Author Archives: admin

Georgia CBank wants loans restructured

FEB. 25 2015 (The Conway Bulletin) – Georgia’s Central Bank wants commercial banks to present plans to restructure US dollar loans to help them cope with the drop in the value of the lari. An estimated 60% of banks’ loans are held in foreign currencies making them more expensive to service.
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(News report from Issue No. 221, published on March 4 2015)

China to build lead plant in Tajikistan

MARCH 2 2015 (The Conway Bulletin) – Underscoring China’s influence over Tajikistan’s economy, a Chinese company has agreed to build a $200m lead producing plant, media reported quoting a senior Tajik government official. China has increased its influence over Tajikistan over the past few years.
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(News report from Issue No. 221, published on March 4 2015)

Georgian opposition plan protest

FEB. 28 2015 (The Conway Bulletin) – The opposition United National Movement (UNM) called for a rally in Tbilisi against the government on March 21. The UNM has said Georgia’s economy is on the verge of collapse and blames the government. The demonstration may attract large numbers and is a potential flashpoint.
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(News report from Issue No. 221, published on March 4 2015)

Cycling union accuses Team Astana of doping

FEB. 27 2015 (The Conway Bulletin) -The International Cycling Union accused Team Astana of misleading it over anti-doping policies and called for its competition license to be withdrawn. Team Astana has near official backing in Kazakhstan and wears the national colours. A Team Astana rider won the 2014 Tour de France but other riders have failed drugs tests.
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(News report from Issue No. 221, published on March 4 2015)

Azerbaijani manat devaluation hurts banks

FEB. 25/MARCH 2 2015 (The Conway Bulletin) – Ratings agencies warned that the 30% devaluation of the Azerbaijani manat last month would hurt the capitalisation of the country’s banks. Fitch said that most of debt held by Azerbaijani banks was in foreign currencies, making it more expensive for them to service.
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(News report from Issue No. 221, published on March 4 2015)

Azerbaijani airline orders Boeings

MARCH 3 2015 (The Conway Bulletin) – Baku-based freight carrier Silk Road West has ordered three Boeing 747-8 cargo planes for a reported $1.1b, Boeing said in a statement. The deal is a major one for Boeing and shows Silk Road West’s confidence.
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(News report from Issue No. 221, published on March 4 2015)

Tax on alcohol in Georgia rises

MARCH 1 2015 (The Conway Bulletin) – Georgia increased the amount of tax imposed on alcoholic drinks by 50% to 60 tetri. The government said the rise is needed to align its tax base with EU regulations. Opponents said this is not the case and that it is just trying to raise extra revenues.
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(News report from Issue No. 221, published on March 4 2015)

EU backs Kazakhstan for business

MARCH 3 2015 (The Conway Bulletin) – Kazakhstan’s foreign minister Erlan Idrissov flew to Brussels for a meeting with the EU where both sides committed to deepening their partnerships. The EU’s backing is important for Kazakhstan because of the growing stigma in the West over former Soviet countries’ ties to Russia.
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(News report from Issue No. 221, published on March 4 2015)

Remittance flows to Tajikistan drop

FEB. 25 2015 (The Conway Bulletin) – Remittance flows from Russia to Tajikistan dropped by 8.3% in 2014 compared to 2013, the Tajik Central Bank said. Remittances are vital to the Tajik economy but have dried up slightly since sanctions and a drop in energy prices hit the Russian economy.
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(News report from Issue No. 221, published on March 4 2015)

Azerbaijan paying for teams to go to the Games

FEB. 25 2015 (The Conway Bulletin) – Azerbaijan is paying Britain to send a team of 160 athletes to compete at the inaugural European Games in Baku this year, the Guardian newspaper reported. In an interview, the British team manager, Mark England, said Azerbaijan was giving “participation grants”. Azerbaijan’s Olympic Committee said it was paying travel and other costs for all 50 teams to compete.
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(News report from Issue No. 221, published on March 4 2015)