Latest Central Asia News
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Asia Currency Sell-Off Goes From Bad to Ugly
On top of funds flowing out of Asia on worries about the Fed unwinding its asset-purchase program, Citi Research expects sovereign risk ...
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Scandal undermines Karimov succession
By Alexander Kim The issue of power succession in Uzbekistan has gained momentum as a serious investigation has been launched in Sweden against Gulnara Karimova, the 40-year-old daughter of Uzbekistan's President Islam Karimov. She is suspected of receiving a US$320 million bribe, paid to her company Takilant Ltd in exchange for a 3G mobile license and frequency, thus granting the ...
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Arabtec-led JV wins $1bn Kazakhstan project deal
Jasan Abdullah Ismaik, managing director and CEO of Arabtec Holding, said: "This new project brings the total gross value of contracts awarded in 2013 to nearly AED13bn, which is anticipated to have a positive impact on Arabtec's performance over the near to mid ...
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World Bank projects Uzbekistans economic growth to reach 7.4
(MENAFN) The World Bank (WB) stated in a report that it expected Uzbekistan's economy to grow 7.4 by the end of this year, reported Xinhua News.In the WB's Global Economic Prospects June 2013, the bank projected 2014's growth to reach 7.1 percent, while the figure gows down to 6.7 percent in 2015.WB's Uzbekistan's 2013 growth estimates come in line with those of the ...
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Chief of Staff of the President False accusation regarding the mining fraud
Chief of Staff of the President P. Tsagaan gave information to the press regarding the news that has been published on various Indian news sources about the Mongolian President Ts. Elbegdorj committing a fraud on mining licenses. He stated: ';the false accusations and information is being published on not only local but foreign media sources in connection to the current election. There is ...
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Erdenes TT shipment will commence this week
After resolving the long awaited inland customs issue Erdenes TT is now able to transport its coal to Gants Mod port directly from its mining site. Previously, Erdenes TT used to unload then reload the coal at Tsagaan Khad site for customs documentation purposes. The issue was resolved after a long talk with the current buyer Chalco of China. Mr. Batsuuri Ya. CEO of Erdenes TT stated that this ...
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TABLE-Long-term credit ratings for Kazakhstan banks
June 17 (Reuters) - Following are long-term credit ratings for Kazakhstan's major banks as defined by international ratings agencies Standard & Poor's (S&P), Moody's and Fitch. Outlook in parentheses: positive (pos), stable (stab), neative (neg), developing (dev). * updated today S&P MOODY'S FITCH Alliance ...
Turkmenistan Featured
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Turkmenistan's new olympic development could be blessing or curse
Work has finally begun on the massive Ashgabat Olympic complex development, a US $5 billion project that aims to enhance the standing of the capital city when Turkmenistan makes a bid to host the Olympic Games.
The sports complex being built in Ashgabat will be the largest and most state-of-the-art of its kind in Central Asia, underscoring Turkmenistan’s position as a regional power due to the country’s extensive natural gas and oil reserves, while its completion will also illustrate the growing presence of the country in the international community. Read more
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