Tag Archives: business

Harvey Nichols opens store in Baku

MARCH 25 2015 (The Conway Bulletin) – Harvey Nichols, one of London’s most famous department stores, has opened a branch in Baku, media reported. The 7-storey store underlines Azerbaijan’s draw for luxury brands and cements its place as one of the region’s top shopping destinations.
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(News report from Issue No. 224, published on March 25 2015)

EU wants gas pipeline from Turkmenistan

MARCH 25 2015 (The Conway Bulletin) – The EU wants to revive a project to build a gas pipeline from Turkmenistan to Europe, Reuters reported quoting an EU diplomat based in Ashgabat. Since a civil war erupted in Ukraine last year, the EU has tried to work out how to dilute its reliance on Russia for gas supplies.
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(News report from Issue No. 224, published on March 25 2015)

Tajikistn increases Afghan electricty exports

MARCH 20 2015 (The Conway Bulletin) – Tajikistan increased its export of electricity to Afghanistan by 58% in January and February, Tajik media reported quoting the national statistics agency. Electricity is seen as an important commodity produced by Tajikistan.
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(News report from Issue No. 224, published on March 25 2015)

Azerbaijan’s SOCAR needs $1b to build plant

MARCH 19 2015 (The Conway Bulletin) – SOCAR, Azerbaijan’s state energy company, said it will ask the Central Bank for a 1b manat ($925m) loan to build an oil, gas and petrochemicals plant. This is important because last year SOCAR delayed construction of the $16.5b plant because its funds had dried up.
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(News report from Issue No. 224, published on March 25 2015)

Tajikistan starts to build new city

MARCH 24 2015 (The Conway Bulletin) – Tajikistan’s president launched construction of a new city to be built in a desert in the north of the country, media reported. The US-funded Radio Free Europe/Radio Liberty said the project is designed to generated jobs in the region and that the city would be home to 250,000 people.
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(News report from Issue No. 224, published on March 25 2015)

International Bank of Azerbaijan chief quits

MARCH 19 2015 (The Conway Bulletin) – Jahangir Hajiyev, chairman of the International Bank of Azerbaijan (IBA), resigned for health reasons. IBA is the biggest bank in Azerbaijan and has close ties to the government. Emil Mustafayev, a deputy chairman, was appointed interim chairman.
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(News report from Issue No. 224, published on March 25 2015)

Georgia will build a new hydropower station

MARCH 20 2015 (The Conway Bulletin) – Georgia will build a hydropower station with a $250m loan from the International Finance Corporation (IFC) which will boost electricity production in winter and allow it to export power to neighbouring Turkey. Demand for power in Georgia is increasing.
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(News report from Issue No. 224, published on March 25 2015)

Kazakh corruption allegations in France

MARCH 19 2015 (The Conway Bulletin) – Prosecutors in France have charged Jean-Francois Etienne des Rosaies, an ex-presidential adviser, with corruption over a 2010 deal to sell 295 trains and 45 helicopters to Kazakhstan, AFP reported. Media said he was the fourth person to be charged in connection with the deal.
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(News report from Issue No. 224, published on March 25 2015)

Kazakhstan’s Halyk Bank raises dividend

MARCH 20 2015 (The Conway Bulletin) – After announcing a 58% rise in net profit, Halyk Bank said it would increase its shareholder dividend to 30% of its total profit. This is an increase from 2014 when Halyk Bank paid out dividends worth 25% of its profit. Halyk Bank is one of Kazakhstan’s biggest and most profitable banks.
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(News report from Issue No. 224, published on March 25 2015)

TAPI pipeline to cost $7.6b, says India

MARCH 20 2015 (The Conway Bulletin) – A gas pipeline that will run from Turkmenistan, across Afghanistan to Pakistan and India will cost $7.6b to build, India’s oil and gas ministry said. TAPI, as the pipeline is called, is one of the most ambitious pipeline projects in the world.
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(News report from Issue No. 224, published on March 25 2015)