Category Archives: Uncategorised

Azerbaijani court releases rights activist

NOV. 12 2015 (The Conway Bulletin) – A court in Baku released jailed human rights activist Arif Yunus from prison because of his failing health. Yunus will have to serve the rest of his sentence for various financial crimes under house arrest. He was sent to prison with his wife Leyla in August for 7 years. Leyla received a prison sentence of 8-1⁄2 years. Human rights campaigners have said they are political prisoners.

ENDS

(News report from Issue No. 256, published on Nov. 13 2015)

Tethys does deal with Kazakh investment group Olisol

NOV. 9 2015 (The Conway Bulletin) — Canadian oil and gas company Tethys Petroleum said it has entered into a non-binding agreement worth around $34m with Kazakhstan-based Olisol Investments, allowing it to refinance its debt and inject cash into exploration projects.

Tethys operates oil and gas projects in Kazakhstan, Tajikistan and Georgia.

Olisol upped its previous offer per share from 0.16 to 0.17 Canadian dollars, for a total of 25.5m Canadian dollars. In addition, Olisol will lend Tethys $15m. Last month, an Olisol statement said that it had worked with Tethys since 2009 and that it wanted to created a fully integrated oil and gas company in Kazakhstan.

Tethys, which was close to reaching a deal with London-listed Nostrum Oil & Gas earlier in September and has also attracted interest from AGR Energy, a company owned by the Kazakh Assaubayev family, said it was happy with the deal.

“We are pleased to have reached conditional agreement with Olisol on a potentially transformational refinancing,” the company statement quoted Tethy’s CEO, John Bell, as saying.

Analysts, though, were cautious on the real value of the deal.

“There is a lot of movement around Tethys, with offers being made and later being pulled. I would remain cautious of the whole situation, until a deal is signed,” Stephane Foucaud, managing director at First- Energy Capital investment firm, told the Bulletin.

“It is still unclear what kind of securities will Olisol use as a warranty for its interim financing. In these deals debt can often be used as a weapon.”

Perhaps most importantly for Tethys shareholders is that the deal spares it from working with AGR Energy and the Assaubayev family which has a mixed reputation in Kazakh business circles.

Tethys’ share price surged in London and Toronto on the day of the announcement, although it lost ground later.

ENDS

(News report from Issue No. 256, published on Nov. 13 2015)

Kyrgyz-Tajik border row lingers

NOV. 6 2015 (The Conway Bulletin) – A land transfer deal between Kyrgyzstan and Tajikistan which was supposed to solve the neighbour’s long-running border dispute has been postponed, media reported. The row has flared into violence over the past couple of years and could even destabilise the region.

ENDS

(News report from Issue No. 256, published on Nov. 13 2015)

Tajik President travels to Pakistan for trade talks

NOV. 12 2015 (The Conway Bulletin) – Tajik president Emomali Rakhmon travelled to Islamabad for a two-day visit that will culminate with talks with Pakistani PM Nawaz Sharif on plans to create a regional power market.

Tajikistan and Kyrgyzstan hope to supply Pakistan and Afghanistan with power generated by their hydropower stations in a project dubbed CASA- 1000. The project is viewed as vital for increasing trade and diplomatic links between the neighbours.

And CASA-1000 already appears to be having a positive impact on relations between Tajikistan and its neighbours. This trip to Pakistan, will be Mr Rakhmon’s sixth.

An official at the Tajik embassy in Islamabad also said that wider trade relations would be discussed.

“During the Tajik president’s visit, they will discuss energy import, transit trade and linking the region through the China-Pakistan Economic Corridor, which will bring prosperity in the entire area,” the unnamed official told the Express Tribune newspaper.

Electricity is one of Tajikistan’s and Kyrgyzstan’s main exports. Pakistan and Afghanistan are deficient in electricity.

Tajikistan and Pakistan don’t share a land border. A sliver of Afghanistan separates the countries.

ENDS

(News report from Issue No. 256, published on Nov. 13 2015)

Two Tajik officers die of knive attacks

NOV. 8 2015 (The Conway Bulletin) – Unknown assailants armed with knives attacked four Tajik army officers in Dushanbe, killing two of them. The army has not given a motive for the attack although the officers were involved with Tajikistan’s military draft. Officially at least, all Tajik men have to serve two years in the army.

ENDS

(News report from Issue No. 256, published on Nov. 13 2015)

Georgia’s court reinstates Rustavi-2 TV management

NOV. 12 2015 (The Conway Bulletin) – A court in Tbilisi reinstated the former management of the Rustavi-2 TV station, the focus of an ownership tug-of-war between supporters of the ruling Georgian Dream coalition against supporters of the former government of the UNM party. Earlier this month a court handed control of the station to a pro-government businessman.

ENDS

(News report from Issue No. 256, published on Nov. 13 2015)

Kazakh President’s daughter makes online profit

NOV. 11 2015 (The Conway Bulletin) – An investigation by a Kazakh website showed a company linked to the youngest daughter of President Nursultan Nazarbayev, Aliya Nazarbayeva, is charging 2% for online payments through Kazakhtelecom.

In June, Kazakhtelecom, Kazakhstan’s largest provider of internet services, imposed a 2% charge when customers paid for its services online.

An investigation by the informburo.kz website showed that the service company Instant Payments had become the intermediary for these transactions and was the ultimate beneficiary of the 2% fee. Ms Nazarbayeva is the founder and owner of Instant Payments, informburo.kz reported. Within a day, the report had disappeared from the informburo.kz website but not before it had triggered public anger.

Typical of this anger was a comment from Vladimir P on alau.kz. “We are living a crisis, but everything goes in their large, immense pockets, not to the people,” he wrote.

Neither Ms Nazarbayeva nor Kazakhtelecom have commented. There is no suggestion of any wrong-doing.

ENDS

(News report from Issue No. 256, published on Nov. 13 2015)

Uzbekistan says it wants foreign investment

NOV. 6 2015 (The Conway Bulletin) – Uzbekistan’s government said it wanted foreign investors to buy stakes in state-owned enterprises, part of a privatisation plan it said was designed to bring expertise into some of its biggest companies.

Deputy PM Rustam Azimov made the statement at an investment forum in Tashkent.

“[The plan is] to attract strategic investors who are able to bring new technology and equipment (and) organise the production of modern and competitive products,” Reuters quoted Mr Azimov as saying.

He cherry-picked three companies, seemingly as a teaser to pique foreign investor interest. These were cement maker Kizilkumcement, chemical producer Ferganaazot and electronics plant Foton.

For foreign investors, though, Uzbekistan has always been a complicated to do business in. It holds a high level of natural resources, mainly gold, gas and cotton, but is riddled through with corruption and intrigue. Western companies have previously had their assets taken by the Uzbek state too.

It remains to be seen if Uzbekistan is serious about opening up to foreign investors — and also whether these investors are Western, Korean, Chinese, Russia or from elsewhere.

The Uzbek government does need to raise funds though to deal with the current economic malaise.

ENDS

(News report from Issue No. 256, published on Nov. 13 2015)

EU chief praises Georgia

NOV. 11 2015 (The Conway Bulletin) – On a visit to Tbilisi, Federica Mogherini, the EU’s foreign policy chief, praised Georgia’s contribution to EU-led military peace operations in Africa but also warned the country that it shouldn’t take media freedom for granted.

ENDS

(News report from Issue No. 256, published on Nov. 13 2015)

Azerbaijani President fires communications minister

NOV. 12 2015 (The Conway Bulletin) – Azerbaijan’s President Ilham Aliyev fired his long-serving communications minister Ali Abbasov, the second sacking of a government minister in two months.

Mr Aliyev has generally preferred to keep people in key positions for years, so the sackings have created an unusual sense of instability around the Azerbaijani government.

Mr Abbasov had been communications minister for over 11 years.

The presidential press service announced the sacking through an online statement. No reason was given for the sacking although shortly afterwards police arrested 10 senior officials in the communications ministry and charged them with corruption.

The pattern is similar to the sacking last month of national security minister Eldar Mahmudov. He had also been in the job since 2004. Similarly, after Mr Mahmudov was sacked, police arrested several senior officials in the national security ministry for corruption.

Azerbaijan is routinely criticised for its corruption levels but it is unusual for the state to purge its own ranks for alleged graft and even more unusual for an internal investigation to trigger ministerial sackings.

ENDS

(News report from Issue No. 256, published on Nov. 13 2015)