SEPT. 9 2017 (The Conway Bulletin) — On a visit to Astana lead by Turkish President Recep Tayyip Erdogan, Turkish businesses signed deals worth $590m, Kazakh officials said according to local media. Turkish media said that investments by Turkish business in Kazakhstan now topped $2.1b. These investments are mainly in the construction sector.
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— This story was first published in issue 343 of The Conway Bulletin on Sept. 15 2017
SEPT. 11 2017 (The Conway Bulletin) — A consortium led by Turkey’s Alsim Alarko, a unit of Alarko Holding, has won a tender to build a new ring road around Almaty, Kazakhstan’s largest city. Media didn’t give the size of the tender, which was awarded by Kazakhstan’s investment and development ministry and held in May 2016. The announcement came a couple of days after a visit by Turkish Pres. Recep Tayyip Erdogan to Astana.
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— This story was first published in issue 343 of The Conway Bulletin on Sept. 15 2017
SEPT. 11 2017 (The Conway Bulletin) — A military court near Almaty sentenced Nartay Dutbayev, the former head of Kazakhstan’s National Security Council, to 7-1/2 years in prison for stealing state secrets. Dutbayev had been head of the National Security Council from December 2001 until February 2006. The case was held behind closed doors and no other details of Dutbayev’s offences have been released. Reports said he had been stripped of his rank and medals.
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— This story was first published in issue 343 of The Conway Bulletin on Sept. 15 2017
AUG. 26 2017 (The Conway Bulletin) — The central Kazakh city of Karaganda unveiled a monument to one of the biggest rock artists to come out of the Soviet Union – Viktor Tsoi. He was a founder of the Kino band. Tsoi died in a car crash aged 28 in 1990. He was born and brought up in Leningrad but was famed around the USSR.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 342, published on Sept. 7 2017
SEPT. 4 2017 (The Conway Bulletin) — Iran has lifted an export tax on foodstuffs being sent to Central Asia and the South Caucasus, media quoted Abdollah Mohajer, the head of Mazandaran Province Chamber of Commerce, as saying. The export tax had covered a range of products including pistachio nuts, cabbages, dates and raisins. Ditching the export tax is likely to drop the price of sending foodstuffs to Central Asia by up to 20%. Iran is increasingly trying to tap into Central Asia and the South Caucasus as natural export markets for is various products.
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(News report from Issue No. 342, published on Sept. 7 2017)
AUG. 29 2017 (The Conway Bulletin) — Kazakh President Nursultan Nazarbayev named Yerbolat Dosayev, formerly head of the state investment agency Baiterek, and Askar Zhumagaliyev, formerly head of the nuclear agency Kazatomprom, as deputy PMs. There are now four deputy PMs. Askar Mamin is first deputy Prime Minister in charge of the economy and Askar Myrzakhmetov is deputy PM and the minister for agriculture. Mr Nazarbayev is renowned for reshuffling his government ministers on a fairly regular basis, partly to prevent any from building up their power base too much.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 342, published on Sept. 7 2017)
AUG. 28 2017 (The Conway Bulletin) — Kazakh bank Zaman-Bank officially switched to becoming an Islamic bank on Aug. 17, media reported, making it the second in the country after Al Hilal Bank. Islamic banking has increased in prominence in Central Asia and the South Caucasus. Banks see it as a way of differentiating themselves. Zaman-Bank has been working towards satisfying Islamic banking protocols since signing a deal with the Islamic Corporation for the Development of the Private Sector, a member of the Islamic Development Bank, in 2013.
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(News report from Issue No. 342, published on Sept. 7 2017)
SEPT. 7 2017 (The Conway Bulletin) — KAZ Minerals, the Kazakhstan-focused copper producer, continues to be the stock of the year from the Central Asia region. It is now surfing at around 875p per share, smashing top end expectations only a couple of months ago of sub-800p.
The copper producer’s previous high had been 811p in 2013 and it started 2017 at 375p/share. The share price has been powered by a job in copper prices and also by better output at its mines. Analysts and traders have been falling over themselves to up their new target prices as KAZ Minerals shows no real sign of stopping its upward trend.
Canada-based gold miner Centerra Gold is another share that has looked good over the past few weeks. In mid-July, it was bumping along at around C$6.63/share. This has now climbed to C$7.49, still below its 2017 peak of C$8.24. Its current valuation has split analysts with most recommending a ‘hold’ but one or two advocate a ‘sell’.
Still, it jumped 8.3% in the period from Aug. 25, the region’s top riser.
On the downside, Georgia Healthcare slid 2.6% to 345.25p. It has dipped significantly since June when is shares were valued at over 400p.
Nostrum Oil & Gas also recorded a fall of 1.2%, to 380p, continuing its steady drop from over 530p in June.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 342, published on Sept. 7 2017)
AUG. 31 2017 (The Conway Bulletin) — Kazakhstan’s manufacturing sector has created roughly 100,000 jobs since 2010, the pro-government Astana Times newspaper reported by quoting Alik Aidarbayev, the investments minister. He said that a government funded programme was the main driver of this rise. Economists and analysts have been saying that Kazakhstan needs to diversify its economy away from oil and gas.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 342, published on Sept. 7 2017)
AUG. 31 2017 (The Conway Bulletin) — Galymzhan Pirmatov, formerly deputy chairman of the Kazakh Central Bank, was named head of Kazatompron, Kazakhstan’s atomic energy agency, replacing Askar Zhumagaliyev who was made a deputy PM earlier in August (Aug. 31). Kazatomprom is a high profile company in Kazakhstan, with Pres. Nursultan Nazarbayev pushing nuclear power and uranium mining. Mr Pirmatov has previously been a VP at Kazatomprom.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 342, published on Sept. 7 2017)