Tag Archives: business

French foreign minister visits Uzbekistan

APRIL 17 2017 (The Conway Bulletin) — On a trip to Tashkent, French foreign minister Jean-Marc Ayrault discussed improving security relations with Uzbekistan. Mr Ayrault is the most senior Western government official to visit Uzbekistan since Shavkat Mirziyoyev took over as president in September 2016. He has opened up the country to the West, including persuading the EBRD to start investing in Uzbekistan once again.

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(News report from Issue No. 325, published on April 17 2017)

Armenian Investor’s Club acts

APRIL 13 2017 (The Conway Bulletin) — Drawing comparisons with Russia’s oligarch network, the so-called Investors’ Club of Armenia pledged to invest $300m in stimulating business across a range of sectors from tourism to IT to energy. The Investors’ Club is a group of Armenia’s wealthiest businessmen brought together by PM Karen Karapetyan. He set up the group just before an election earlier this month.

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(News report from Issue No. 325, published on April 17 2017)

 

Georgian airports post growth

APRIL 15 2017 (The Conway Bulletin) — Georgia’s airports have handled 621,800 people in the first three months of 2017, an increase of 43.6% from the same period in 2016, media reported quoting figures released by the national civil aviation authority. The data highlights the huge growth in the number of air- lines flying to Georgia and, also, Georgia’s growing attraction as a stable country that straddles both Asia and Europe.

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(News report from Issue No. 325, published on April 17 2017)

After 25 years, Uzbek Air flies to Dushanbe

DUSHANBE, APRIL 11 2017 (The Conway Bulletin) — After three aborted attempts blamed on a variety of different issues, Uzbekistan Airways made its first flight between Tashkent and Dushanbe for 25 years.

A spokesman at Dushanbe Airport said that the Uzbekistan Airways flight had landed at 8.03am local time. Earlier in the year a flight by the privately-owned Somon Air landed at Tashkent airport from Dushanbe.

The resumption of flights between the two capitals was considered a vital sign of improved relations between the neighbours. Uzbekistan Airways has said that it now intends to fly between Tashkent and Dushanbe twice a week.

Under Uzbek president Islam Karimov, Uzbekistan perused an isolationist policy, especially with regards to Tajikistan which he viewed virtually as a pariah state.

Karimov was particularly incensed by plans drawn up by his Tajik counterpart, Emomali Rakhmon, to build a dam across rivers that feed Uzbekistan’s cotton fields. His successor, Shavkat Mirziyoyev has been more avuncular and has patched up damaged relations.

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(News report from Issue No. 324, published on April 13 2017)

Capital Bank in Kazakhstan appoints new chairman

APRIL 12 2017 (The Conway Bulletin) — Kazakhstan-based Capital bank promoted Bakhtiyar Ilyasov to be chairman, replacing Ghani Uzbekov. He had previously been the bank’s deputy chairman. In a note, the bank said that Mr Ilyasov would oversee the merger with Tengri bank, announced in March.

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(News report from Issue No. 324, published on April 13 2017)

Tajik banking sector needs reform, says ADB

APRIL 6 2017 (The Conway Bulletin) — Tajikistan’s banking sector needs urgent reform if it is going to pull out of the current crisis, the Asian Development Bank said. Among other things, Tajik banks should increase their capital levels and improve their ownership transparency. Tajikistan’s banks have been teetering on the verge of bankruptcy. Only investments from the government and international institutional banks have averted a collapse of the banking sector.

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(News report from Issue No. 324, published on April 13 2017)

Kazakh nuclear company signs deal with Areva

APRIL 10 2017 (The Conway Bulletin) — Kazakhstan’s state-owned nuclear company Kazatomprom signed a deal with France’s Areva to strengthen their partnership, an agreement which they said would see them working together for another 20 years. The two companies have worked together since 1996 on their Katco JV.

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(News report from Issue No. 324, published on April 13 2017)

Azerbaijani arms sales hit $101m

APRIL 11 2017 (The Conway Bulletin) — Azerbaijani defence minister Yaver Jamalov estimated that the value of the country’s defence industry was around $101m this year and that it will sell arms and military equipment to 10 countries. Azerbaijan has invested heavily into building up its arms industry. It has boasted that arms it manufactures were used effectively in April 2016 when tension around the disputed region of Nagorno-Karabakh spilled over into battles with Armenia- backed rebels for a couple of days.

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(News report from Issue No. 324, published on April 13 2017)

Georgia to sell its fighter jets

APRIL 12 2017 (The Conway Bulletin) — Speaking to parliament, Georgian defence minister Levan Izoria said that the Georgian military intended to sell its 12 Su-25 Soviet-era jets and use the cash raised to buy helicopters and drones. The Georgian military said earlier in the year that it was going to ditch using fighter jets altogether.

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(News report from Issue No. 324, published on April 13 2017)

Uzbekistan to upgrade plastics plant

APRIL 4 2017 (The Conway Bulletin) — State-owned Uzbekneftegaz plans a $400m expansion of its Shurtan Gas Chemical Complex in the south of the country, media reported by quoting officials from the plant. The plant is one of the biggest employers in the region and its expansion mirrors President Shavkat Mirziyoyev’s call to boost industry and create more jobs. Media reports said that the expansion plan aims to boost output to 200,000 tonnes of polyethylene, a plastic, up from 75,000 tonnes currently.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 324, published on April 13 2017)