Tag Archives: business

Aliyev hosts president of Republic of the Congo

BAKU/APRIL 4 2024 (The Bulletin) — Ilham Aliyev, Azerbaijan’s president, hosted Denis Sassou Nguesso, president of the Republic of the Congo, in what analysts said was part of Azerbaijan’s pre-COP29 diplomatic push.

Although no major deals were signed, both leaders said that their meeting in Baku had laid the foundation for more bilateral cooperation, especially in the energy sector.

“We have had a wide exchange of views with you today on cooperation in energy and agriculture sectors, and still there is no difference of opinion,” said Mr Aliyev. “We look forward to working together on COP29 and thank you for your support.”

The visit by Mr Nguesso was a rare one by an African leader to Baku and highlights Mr Aliyev’s growing status  and also how Azerbaijan’s low key but expansive diplomatic push is paying off. 

In Africa, Azerbaijan has opened embassies in Algeria, Egypt, Ethiopia, Kenya, Morocco and South Africa.

In power since 2003, analysts have said that Mr Aliyev has impressed other hardman leaders with his longevity and his defeat of ethnic Armenian forces over disputed land. Azerbaijan’s closeness with the Kremlin and gas trades with the EU, as well as its chairmanship of the COP29 environmental summit, have also given it kudos in certain circles.

“We have huge potential in the field of renewable energy, we have the sun all year round, and we can take advantage of Azerbaijan’s rich experience in this field,” said Mr Nguesso.

Mr Aliyev has been trying to woo African states for some time, carefully building relations.

He chaired the Non-Aligned Movement (NAM) in 2019-2022, a Cold War-era talking shop that was favoured by African countries looking to balance the US and the USSR. 

During his tenure as NAM chairman, Mr Aliyev criticised France’s “neo-colonialism in Africa”, a dig linked to Paris’ support for Armenia.

ENDS

— This story was published in issue 564 of the Central Asia & South Caucasus Bulletin, on April 15 2024

— Copyright the Central Asia & South Caucasus Bulletin 2024

Azerbaijan imposes new rules on taxi drivers

March 28 2024 (The Bulletin) — Azerbaijan introduced new rules for taxi drivers which it said were aimed at improving the environment and reducing the number of taxi drivers in Baku by a third to 20,000. Drivers and their cars now need to pass more stringent tests and also carry contactless payment terminals. Taxi drivers have complained that the new rules are unfair.

ENDS

— This story was published in issue 564 of the Central Asia & South Caucasus Bulletin, on April 15 2024

— Copyright the Central Asia & South Caucasus Bulletin 2024

Kazakh inflation hits Steppe Cement profit

JAN. 11 2023 (The Bulletin) — London-listed Steppe Cement said that high inflation in Kazakhstan would hit its profit in 2022, forcing its share price to drop by 15%. The announcement was significant because it was one of the first times that business has admitted that high inflation in Kazakhstan, at 20%, is hurting it.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

UAE’s Masdar signs deal to build solar power plant in Kyrgyzstan

JAN. 10 2023 (The Bulletin) — The UAE’s Masdar has signed a deal to build a 200MW solar power station in Kyrgyzstan, media reported. Kyrgyzstan, like the rest of the Central Asia region, needs to ramp up its electricity production fast. It has also come under major criticism for the collapse in the quality of air around Bishkek.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Turkey lifts ban on sending cargo flights to Armenia

JAN. 6 2023 (The Bulletin) — Turkey lifted a ban on cargo flights to Armenia, part of its package to “normalise” relations. The move was agreed in July 2022 and is designed to lay the foundations for the slow opening of the Armenia-Turkey border. There have been no diplomatic or trade relations between Turkey and Armenia since 1993 when the border was closed. Armenia and Turkey have agreed to open the border to citizens of third countries although they have not put a timeline on this.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Energy ministers agree to build hydropower plant in Kyrgyzstan

JAN. 6 2023 (The Bulletin) — The energy ministers of Kyrgyzstan, Uzbekistan and Kazakhstan signed a deal to develop a major hydropower station in Kyrgyzstan which they hope will help to ease pressure on the region’s power production capacity. Plans to build Kambarata HPP-1 in Kyrgyzstan’s Jalalabad region have been on the drawing board for years and signing the deal is considered a major regional diplomatic success. Construction is scheduled to take up to 10 years. Central Asia’s power grid systems are interconnected.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Azerbjainan’s energy fund SOFAz denies it plans to buy Latvian gas firm

JAN. 5 2023 (The Bulletin) — Azerbaijan’s energy wealth fund SOFAZ was forced to deny that it intended to buy Latvia’s biggest gas trading company Lavija Gaze after some news agencies reported that it would shortly become the biggest shareholder. SOFAZ’s cash pile has been swelled by huge inflows from oil and gas sales this year and analysts have said that it is looking to buy assets, especially in Europe.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Poisonous cough medicine kills 19 children in Uzbekistan

JAN. 2 2023 (The Bulletin) — Poisonous cough medicine has killed at least 19 children in Uzbekistan, officials said. The Doc-1 Max cough medicine, produced by Indian manufacturer Marion Biotech, reportedly contained excessive levels of toxins used to make antifreeze. All Doc-1 Max products have now been withdrawn from Uzbekistan and reports said that Uzbek police had arrested several officials who had approved the cough medicine. Campaigners say the authorities need to tighten up their oversight of drugs sold in Uzbekistan.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Chodiyev nephew buys Uzbek bank

DEC. 28 2022 (The Bulletin) — The nephew of Patokh Chodiyev, one of the owners of Kazakhstan’s Eurasian Natural Resources Corporation, has agreed to buy Uzbekistan’s state-owned UzAgroExportBank for $85b, the Uzbek government reported. Alimzhan Chodiyev is buying the bank through his company, Support Level. Critics of the Uzbek government’s privatisation scheme say it is set up for well-connected Uzbek businessmen to buy the best state assets.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

New Mercure hotel opens in Bukhara old town

DEC. 27 2022 (The Bulletin) — Accor, the French hospitality group, opened a Mercure hotel in the old town of Bukhara. Bukhara, and nearby Samarkand, have been the focus of a major tourism drive by the Uzbek government which wants tens of thousands more people to visit the sites each year. Culture campaigners have warned that Bukhara is too small and fragile to cope with a massive growth in tourist numbers.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023