Category Archives: Uncategorised

Georgian winemakers feel Russian recession pinch

NOV. 5 2015 (The Conway Bulletin) — Georgia’s National Wine Agency said exports of wine fell by 43% in Jan-Oct 2015, a consequence of the economic downturn in Russia and the ongoing crisis in Ukraine.

More positively, exports to Europe and the US increased significantly and, so far this year, Georgia has sold 1.8m bottles of wine to China – an 87% increase.

“China is one of the most strategically important markets for Georgia,” the Agency said in a statement.

Russia remains Georgia’s largest market, although compared to the same period last year, exports have shrunk by 54% to 14.6m bottles. Kazakhstan outpaced Ukraine ranking second, while China jumped to fourth place.

Earlier this year, the Georgian National Wine Agency predicted a 50% fall in exports this year, as economic and political crises bite its most important customers.

Despite the fall in sales, the growth in new markets for Georgian wine should cheer its biggest wine producers — Badagoni, TelianiValley and Tbilvino.

ENDS

(News report from Issue No. 255, published on Nov. 6 2015)

Georgian court hands Rustavi-2 TV to pro-government owner

NOV. 3 2015 (The Conway Bulletin) – A court in Georgia handed the opposition leaning Rustavi-2 television station back to a pro-government businessman who owned it in 2004- 6, drawing accusations it was clamping down on free speech.

Two days after the ruling hundreds of people took to the streets of Tbilisi to protest against what they say is a crackdown on media freedom, ramping up tension in Georgia’s increasingly polarised society.

Under the court ruling, Kibar Kha- lvashi took back control of 60% of the shares in Rustavi-2, one of the most popular TV channels in Georgia, which he said he was pressured into selling to supporters of the then president Mikheil Saaskashvili.

“I declared at the beginning that it was my battle for justice. I want justice to be restored for everyone that suffered from Saakashvili’s regime,” media quoted Mr Khalvashi as saying. “This applies not only to Rustavi-2, but also to all other personal property that has been lost or confiscated.”

The other 40% of Rustavi2 is held by Panorama ltd. The current owners, two businessmen, have appealed the court’s decision.

The row over ownership of Rus- tavi-2 is just the latest increasingly bitter row between supporters of the ruling Georgian Dream coalition and their opponents, mainly Mr Saakashvilil’s former party — the UNM.

The Georgian Dream coalition, bankrolled by Georgian billionaire Bidzina Ivanishvili, won a parliamentary election in Georgian in 2012 and a presidential election in 2013. Since then public prosecutors have accused various supporters of Mr Saaskashvili of crimes when they were in power, imprisoning them or chasing them out of the country.

The US and European governments have warned the Georgian government of pursuing vendettas.

On Friday, several hundred people again gathered outside the headquarters of the TV station.

“We will not let the so-called new management enter our premises,” Rustavi2’s news anchor Zaal Udu- mashvili told the AFP news agency. “We will defend Rustavi-2 physically, using all available legal means.”

ENDS

(News report from Issue No. 255, published on Nov. 6 2015)

Azerbaijani autorirties pay journalist compensation

OCT. 31 2015 (The Conway Bulletin) – The authorities paid a journalist working for the US-funded Radio Free Europe/Radio Liberty $30,000 in compensation after they admitted that police officers had beaten him in 2008. Agil Khalil was beaten by policemen when he tried to take photos in Baku.

ENDS

(News report from Issue No. 255, published on Nov. 6 2015)

Stock market: Roxi Petroleum, KAZ Minerals

NOV. 5 2015 (The Conway Bulletin) — Stock markets saw commodities-focused companies lose terrain this week, despite a brief surge in oil prices above $50/barrel on Tuesday.

Kazakhstan-focused oil company Roxi Petroleum lost 16% in one week closing at 7.88p, perhaps driven down by technical issues slowing down its drilling operations at the BNG contract area in the western part of the country.

After peaking at 122.4p on Tuesday, mining company KAZ Minerals shares were down 8.5% to 105.7p on Friday. KAZ Minerals used to be called Kazakhmys.

In Toronto, Centerra Gold shares lost 3.5% to 7.15 Canadian dollars, continuing a 3-week slump following debates on the formation of a new government in Kyrgyzstan. The Kumtor gold mine in Kyrgyzstan is Centerra’s main asset and the company is a major taxpayer in the country. Centerra has said, though, that production at Centerra would be down this year on earlier forecasts.

A new government has now been formed in Kyrgyzstan, hopefully giving Centerra a stable partner to work with.

Shares in Bank of Georgia were down 4.5% to £19.11 on Friday.

ENDS

(News report from Issue No. 255, published on Nov. 6 2015)

Inflation spikes in Kazakhstan

NOV. 2 2015 (The Conway Bulletin) – Inflation in Kazakhstan grew by 5.2% in October, compared to the previous month, after businesses increased their prices on goods and services across the country to balance a devaluation in the value of the tenge currency. The tenge has now lost half its value against the US dollar since Feb. 2014. Year-on- year inflation now stands at 9.4%.

ENDS

(News report from Issue No. 255, published on Nov. 6 2015)

EBRD raises Azerbaijan’s growth

NOV. 5 2015 (The Conway Bulletin) – The EBRD doubled Azerbaijan’s economic growth predictions to 3% this year, an upgrade that will come as a relief for the the government which has been trying to cope with an economic downturn. It is reliant on oil as its main foreign currency earner. Oil prices have fallen 50% in the past 18 months.

ENDS

(News report from Issue No. 255, published on Nov. 6 2015)

Kazakh and Swedish telecoms form joint venture

NOV. 4 2015 (The Conway Bulletin) – Swedish telecoms company Tele2 and Kazakhstan’s state-owned Altel said they will form a joint venture. The new joint venture will start operations in 2016 and will hold exclusive rights to the country’s 4G network.

ENDS

(News report from Issue No. 255, published on Nov. 6 2015)

JOGMEC explores Kazakhstan

OCT. 30 2015 (The Conway Bulletin) — State-owned Japan Oil, Gas and Metals National Corporation (JOG- MEC) signed a deal with local authorities in Kazakhstan to explore for rare earth materials in the Karaganda and Kostanai regions. Earlier this year, the Japanese ministry of industry closed a deal to build a rare earths production facility in the north of the country. Kazakhstan holds one of the world’s largest reserves of rare earths.

ENDS

(News report from Issue No. 255, published on Nov. 6 2015)

Armenian church re-opens in Georgia

OCT. 31 2015 (The Conway Bulletin) – The Armenian Orthodox Church reconsecrated the Cathedral of St George in Tbilisi, considered one of its most important churches in the region. The Cathedral was closed in 2012 for restoration work.

ENDS

(News report from Issue No. 255, published on Nov. 6 2015)

Flydubai flies to Kazakhstan

NOV. 2 2015 (The Conway Bulletin) — Low-cost airline Flydubai launched its first flight to Astana, expanding its routes in Central Asia and the South Caucasus. Astana will be the third destination in Kazakhstan for Flydubai, a company owned by the Government of Dubai. In Kazakhstan, Flydubai already flies to Almaty and Shymkent.

ENDS

(News report from Issue No. 255, published on Nov. 6 2015)