JUNE 5 2015 (The Conway Bulletin) – Arsen Julfalakian and Artur Aleksanian, two Olympic medal winning Armenian wrestlers, have pulled out of the European Games in Baku because they said that it would be biased towards their Azerbaijani competitors, Radio Free Europe/Radio Liberty reported.
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(News report from Issue No. 235, published on June 11 2015)
JUNE 9 2015 (The Conway Bulletin) – Foreign direct investment (FDI), so important to Georgia’s economy, halved in the first three months of this year compared to the last quarter of 2014, GeoStat, the Georgian statistics agency, said.
GeoStat measured total FDI in Georgia at $175m, down from $349m in Q4 2014. Georgia’s attractiveness as a foreign investment destination was rebounding after the global economic crisis of 2008/9 and a war against Russia in 2008, so the data will disappoint.
Apart from the second quarter of 2014, this was the weakest FDI data for Georgia since 2009. The biggest drop was in construction and manufacturing, reflecting the recession which has hit the region, triggered by a struggling Russian economy.
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(News report from Issue No. 235, published on June 11 2015)
JUNE 10 2015 (The Conway Bulletin) – Doctors and other health workers will leave Kyrgyzstan for better paid jobs in Kazakhstan and Russia now that the country has joined the Kremlin- led Eurasian Economic Union, media quoted Kyrgyz health minister Talantbek Batyraliyev as saying. Kyrgyzstan’s health service is already in a precarious states.
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(News report from Issue No. 235, published on June 11 2015)
JUNE 10 2015 (The Conway Bulletin) – Officials in Azerbaijan are considering increasing the electricity tariff to a more equitable market rate, media reported. Electricity across the former Soviet Union is generally subsidised although governments are reducing this, much to the irritation of ordinary people.
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(News report from Issue No. 235, published on June 11 2015)
JUNE 5 2015 (The Conway Bulletin) – Oleg Smolyakov, deputy chairman of Kazakhstan’s Central Bank, said a change of monetary policy to target inflation instead of a stable exchange rate would not be possible within the next couple of years, the first sign of a row back on the high- profile strategy.
The potential row-back will disappoint businesses and international observers who have urged the Kazakh Central Bank to allow its tenge currency to float more freely.
“We believe that we cannot afford switching to inflation targeting within a time range of one to two years,” media quoted Mr Smolyakov as saying.
This is a departure from the bullish declaration by Central Bank chief Kairat Kelimbetov who said Kazakhstan would liberalise its currency market.
According to Mr Smolyakov, Kazakhstan needs more tools to switch from the current currency corridor to targeting inflation. A sharp fall in the value of the Russian rouble since last summer has pressured currencies and economies across the region.
Also, seemingly eager to smooth public concerns over a volatile currency, Mr Smolyakov said the Kazakh tenge would remain stable with oil prices over $50 per barrel.
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(News report from Issue No. 235, published on June 11 2015)
JUNE 9 2015 (The Conway Bulletin) – New York-based ContourGlobal bought Armenia’s largest hydro-electric complex for $250m, media reported, the first major investment by a Western company in the Armenian energy sector. Russian companies dominate Armenia’s power generation sector.
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(News report from Issue No. 235, published on June 11 2015)
JUNE 5 2015 (The Conway Bulletin) – Azerbaijan’s oil shipments via the Baku-Novorossiisk pipeline increased 40% in the first five months of the year compared to the same period in 2014, media reported quoting the state energy company. The increased oil flow through Russia is scheduled.
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(News report from Issue No. 235, published on June 11 2015)
JUNE 9 2015 (The Conway Bulletin) – A Kazakh agricultural equipment manufacturer is in negotiations with a Turkish company to buy the licence to manufacture its armoured vehicles. Kazakhstan has previously said that it wants to improve and strengthen its defence sector manufacturing base.
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(News report from Issue No. 235, published on June 11 2015)
JUNE 9 2015 (The Conway Bulletin) – Pakistani PM Nawaz Sharif flew to Dushanbe for talks with Tajik president Emomali Rakhmon, his first visit to Tajikistan since the neighbours agreed an electricity supply deal earlier this year.
At this meeting the two leaders agreed to speed up building the infrastructure needed for Tajikistan to send electricity generated from its hydropower stations to Pakistan under the CASA-1000 deal.
Importantly they agreed to improve communication and links.
This is important. International organisations as well as Western states have supported the CASA-1000 deal. They want electricity sent to Pakistan improved as well as cash flowing into Tajikistan’s economy.
They also want to encourage deeper relations between countries, including between Tajikistan and Pakistan.
JUNE 10 2015 (The Conway Bulletin) – Kyrgyzstan’s GDP was 6.9% higher at the end of May than it was a year earlier, the Kyrgyz national statistics office said. The main driver of this growth was the Kumtor gold mine, Kyrgyzstan’s largest industrial project.
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(News report from Issue No. 235, published on June 11 2015)
