Author Archives: admin

Rail tariff cut to boost trade in Azerbaijan

MARCH 13 2017 (The Conway Bulletin) — Looking to boost trade along the so- called North-South Transport Corridor between Russia and India, Azerbaijan, Russia and Iran agreed to cut rail tariffs by 50%, media reported. The three countries met in Moscow to discuss developments, including a new bridge over the Astara river that joins Azerbaijan’s and Iran’s railway. The North-South Corridor is considered an important component for boosting regional trade.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 321, published on March 20 2017)

Kazakh Central Bank says to buy KKB bad debt

ALMATY, MARCH 15 2017 (The Conway Bulletin) — Kazakhstan’s Central Bank confirmed that it would buy up 2.4 trillion tenge ($7.5b) of bad debt owned by Kazkommertsbank, effectively subsidising its purchase by Halyk Bank.

Halyk Bank, owned by the daughter and son-in-law of Kazakh president Nursultan Nazarbayev, agreed to buy Kazkommertsbank earlier this year for an undisclosed amount in a deal that will give it a 38% market share and Kazakhstan’s elite control of the banking sector.

The 2.4 trillion tenge bad debt held by Kazkommertsbank is a legacy of its purchase of BTA Bank from the government. The government had

bought it in 2008/9 when it was about to collapse during the Global Financial Crisis.

Separately, deputy Central Bank chairman Oleg Smolyakov said it would take two to three months for Halyk Bank to carry out its due diligence of Kazkommertsbank before the takeover could be completed.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 321, published on March 20 2017)

ODIHR chief flies to Uzbekistan

MARCH 16 2017 (The Conway Bulletin) — Michael Georg, head of the OSCE’s election monitoring unit ODIHR, travelled to Tashkent for a meeting with the Uzbek foreign ministry on its findings from its election monitoring mission in December. The meeting is likely to precede a final election monitoring report from ODIHR. The elections last December were the first time that ODIHR had monitored an election in Uzbekistan.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 321, published on March 20 2017)

 

Hundreds more protest in Kyrgyz capital

MARCH 18/19 2017 (The Conway Bulletin) — Police in the Kyrgyz capital broke up a series of anti-government protests complaining about what they said was pressure on free speech. Media reported that hundreds of people turned out for the demonstrations after the government said that it was going to sue two media companies for slandering Kyrgyz President Almazbek Atambayev. There have been a number of anti-government protests in Bishkek since the arrest last month of senior members of the opposition Ata Meken party, including leader and presidential candidate Omurbek Tekebayev.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 321, published on March 20 2017)

Parking ticket sparks riot in Georgian city

TBILISI, MARCH 11/12 2017 (The Conway Bulletin)  — Police and rioters clashed in Batumi, Georgia’s second city, allegedly after an argument over a parking ticket escalated into violence.

Rioters burned cars and fought police who resorted to firing tear gas into the protesters in what observers have said was the worst violence for years in Georgia. Local media said that 85 people were detained after the violence.

For the ruling Georgian Dream coalition, the violence is a potential problem as it may show that people are become increasingly tired with the status quo and also of deal with an economic downturn that has started to impact living standards. A Georgian observer said that the main riot was the culmination of a build-up of a bad feeling towards a new police chief in Batumi who was trying to impose heavier fines for small misdemeanours such as littering the street.

There had been two days of protests before the riot.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 321, published on March 20 2017)

Kazakhstan’s Eurasian Bank plans to expand

MARCH 14 2017 (The Conway Bulletin) — Kazakhstan’s Eurasian Bank plans to expand into Uzbekistan, Kyrgyzstan, Georgia and Azerbaijan in a bid to become a truly regional operator, its CEO Pavel Loginov said in an interview with Forbes Kazakhstan. Almaty, the former capital of Kazakhstan, is considered the financial capital of Central Asia but the only two banks in the region listed on the London Stock Exchange are both Georgian — Bank of Georgia and TBC.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 321, published on March 20 2017)

Islamic finance boosts in Kazakhstan

MARCH 14 2017 (The Conway Bulletin) — The Association of Financiers of Kazakhstan, an industry lobby group, and Islamic Development Bank have signed a deal to look at ways of developing Islamic finance in Kazakhstan, media reported. There are currently two banks in Kazakhstan practising Islamic banking — Zaman Bank and Bank Al-Hilal.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 321, published on March 20 2017)

Kazakhs do not express concerns about constitutional changes

ALMATY, MARCH 20 2017 (The Conway Bulletin) — Betraying a lack of interest in politics, most people in Almaty who spoke to The Conway Bulletin about changes to the Kazakh constitution made earlier this month just shrugged their shoulders.

Some were concerned that Kazakh President Nursultan Nazarbayev made the changes to hand more power to parliament without consultation but they were in the minority.

Aigerim, a 25-year-old woman working in service sector, said casually: “I haven’t heard of the constitutional changes. I don’t know, I couldn’t care less. They will decide [do what they want] anyway, they will not ask us.”

There was also a degree of scepticism over how much power parliament will really be given.

Malik, 60, said: “Parliament will not be given decision-making power, it is just formality. Nazarbayev is and will be the only person in power.”

These views were echoed by most people that the Bulletin spoke to, although the issue of land ownership has dominated some discussion groups.

Land is a touchy subject in Kazakhstan. Last year, people protested in several cities across the country against a change to the law that was going to give foreigners improved rights to land ownership in Kazakhstan. The constitutional changes brought in by Mr Nazarbayev hasn’t touched the issue of land rights but that didn’t stop it dominating conversations.

Rabiga, a pensioner, said: “I do care, I have my family living here. I have heard of (the constitutional changes) but don’t know the details. But I heard there was one article on land that is changed from citizen to anybody. I have read about it a lot.”

Most analysts said that Mr Nazarbayev has tinkered with the constitution to try to split power between a number of people in order to avoid any one person dominating Kazakh politics when he leaves. The 76-year-old hasn’t yet unveiled plans for his accession.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 321, published on March 20 2017)

Kyrgyzstan expels Russian journalist

MARCH 13 2017 (The Conway Bulletin) — Kyrgyzstan expelled a high-profile Russian journalist, triggering an angry response from Russia’s embassy in Bishkek. Officially, Girgory Mikhailov, the Kyrgyzstan bureau chief for the Regnum news agency was expelled for failing to register properly. Mr Mikhailov, who has worked in Kyrgyzstan since 2002, said that he had not committed any infringements and that he didn’t know the real reason for his expulsion.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 321, published on March 20 2017)

Eurasian Bank agrees to loan Kyrgyzstan

MARCH 14 2017 (The Conway Bulletin) — The Eurasian Development Bank has signed a deal with Kyrgyzstan to provide a loan of $110m to finance the construction of Unit 2 at the Kambarata hydropower plant, media reported. The Eurasian Development Bank is the bank of the Eurasian Economic Union. The funds for the hydropower development will come out of a special unit put aside to assist Kyrgyzstan joining the EEU in 2015.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 321, published on March 20 2017)