FEB. 5 2014 (The Conway Bulletin) — Mohammad al-Mosallam, deputy head of business development at Qatar Holding, visited Baku and held talks with the Azerbaijani minister of agriculture, Heydar Asadov, about possibly investing in the sector. Qatar Holding is one of the biggest investment groups in the world and could be a boost for Azerbaijan’s agriculture.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 171, published on Feb. 12 2014)
FEB. 6 2014 (The Conway Bulletin) — Kyrgyzstan’s parliament ratified a deal to split control of the Kumtor gold mine 50:50 with Canadian miner Centerra Gold. The deal is vital to Kyrgyzstan as Kumtor is its single biggest economic asset. Protests over the ownership have forced Centerra Gold to cede increasingly large stakes in the mine to Kyrgyzstan.
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(News report from Issue No. 171, published on Feb. 12 2014)
FEB. 6 2014 (The Conway Bulletin) — Kazkommertsbank, Kazakhstan’s largest bank, and Kenes Rakishev, the son-in-law of the mayor of Astana, finalised a $1b deal to buy most of BTA Bank from the Kazakh government. The merger will happen by the end of the year, said Kaskommertsbank. The Kazakh government bought debt ridden BTA Bank in 2009.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 171, published on Feb. 12 2014)
FEB. 10 2014 (The Conway Bulletin) — Azerbaijan underlined its credentials as a regional energy transport lynchpin by offering to pump Iraqi gas to Europe through its pipeline network.
The offer came during a trip to Baghdad by Azerbaijani foreign minister Elmar Mammadyarov and underlines the importance of the so-called Southern Gas Corridor.
“The project is there, so if there are other countries that want to join the Southern Gas Corridor, including Iraq which has already expressed some interest in this project, we are ready to start negotiations,” the AFP news agency quoted Mr Mammadyarov as saying.
Azerbaijan is planning a massive boost to its gas extraction and pipeline infrastructure over the next few years to cope with a rise in gas exports. This means developing the Southern Gas Corridor and attracting partners to tap into it.
Iraq is, of course, trying to boost its gas exports since the end of the US-led war and has turned to Azerbaijan for help.
To make the deal go through, Azerbaijan needs the support of Turkey which is its partner in the Trans- Anatolian Gas Pipeline (TANAP). Turkey, a NATO member and ally of the United States, is likely to agree.
All this underlines the importance of the Southern Gas Corridor running through the South Caucasus between the Azerbaijani sector of the Caspian Sea and Europe.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 171, published on Feb. 12 2014)
FEB. 6 2014 (The Conway Bulletin) — Highlighting Azerbaijan’s poor infrastructure, the Asian Development Bank (ADB) pledged to lend $150m to build new roads. The loan is part of a multi-tranche plan by the ADB to boost the road network across the country. The total cost of the project is $625m with ADB funding $500 and the Azerbaijani government the other $125m
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(News report from Issue No. 171, published on Feb. 12 2014)
FEB. 11 2014 (The Conway Bulletin) — Around 700 workers building the 88-storey Abu Dhabi Plaza in Astana went on strike after complaining about their pay, media reported. The Abu Dhabi Tower project was unveiled last year to much fanfare. UAE investors are funding the $1.6b tower which was expected to be finished by 2016.
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(News report from Issue No. 171, published on Feb. 12 2014)
FEB. 11 2014 (The Conway Bulletin) — Rovnag Abdullayev, the head of Azerbaijan’s state-owned energy company SOCAR, said that demand for petrol in Azerbaijan was rising by 10-11% each year, media reported. This is important because is both serves as an economic indicator and also shows the need to boost refinery capacity in Azerbaijan.
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(News report from Issue No. 171, published on Feb. 12 2014)
FEB. 5 2014 (The Conway Bulletin) — Uzbekistan’s state-owned Uzavtoprom exported 90,800 cars in 2013, official media reported, up around 20% from 2012. Uzbekistan’s car manufacturing sector is increasingly important to the country. It mainly exports to Russia, Kazakhstan, Ukraine and Turkmenistan.
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(News report from Issue No. 171, published on Feb. 12 2014)
FEB. 11 2014 (The Conway Bulletin) — Russian energy company Rosneft and Italian tyre manufacturer Pirelli are considering building a rubber plant in Armenia, media reported. The plant would be a boost for Armenian industry and would also underscore the close relationship between Russia and Armenia. Armenia is joining the Russia-led Customs Union this year.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 171, published on Feb. 12 2014)
JAN. 30 2014 (The Conway Bulletin) — KCell, Kazakhstan’s largest mobile telecoms provider, posted full year net profit for 2013 up 2.5% to $408m mainly driven by increased demand for 3G data services. The company, majority owned by Sweden’s TeliaSonera, said mobile penetration measured 180% by the end of 2013. This high penetration rate is an indicator of development.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 170, published on Feb. 5 2014)