@rbc.ru

18 Apr 2024
Central Asia, Tajikistan International Affairs, Tajikistan Business Economy, International Affairs, Tajikistan, Business & Economy

Air Travel Between Tajikistan and Russia Rebounding After Terrorist Attack

Passenger traffic on flights between Tajikistan and Russia decreased after the terrorist attack at Crocus City Hall near Moscow on March 22, which Tajik members of the Islamic State (IS) are suspected of perpetrating. But the news site Avesta reports that the flow of passengers between the two countries is increasing again.

Tajikistan’s national airline Somon Air has commented: “Currently, we are observing an increase in the flow of passengers to and from the Russian Federation compared to two weeks ago. We hope that by the end of the month, the flow of passengers will be fully restored to the previous level.”

Representatives of Somon Air mentioned that they didn’t reduce the number of flights to Russian cities in the wake of the terrorist attack and subsequent political friction, and that the frequency of flights on some routes actually increased. The airline operates approximately 130–140 flights between Tajikistan and Russian cities per month.

Avatar

Times of Central Asia

@rfi.fr

18 Apr 2024
Central Asia, Kazakhstan Local Politics, Kazakhstan

Kazakh Military to Receive Transport Plane From Airbus

The world’s largest aerospace company Airbus is preparing to deliver its first military transport aircraft to Kazakhstan. The A400M Atlas aircraft will be used by the Ministry of Defense.

Airbus recently published a video on its website which shows how the aircraft has been painted for the Kazakh Ministry of Defense. The airliner will begin test flights in the near future.

In 2021 Kazakhstan placed an order for a pair of four-engine military transport aircraft. It was subsequently reported that the country intends to use these airliners together with other vessels from the military fleet. Kazakhstan will become the ninth country to operate this type of aircraft — and the first foreign customer since 2005.  The A400M is already in use in Turkey, Belgium, Germany, France, Spain, the United Kingdom, Malaysia and Luxembourg.

The first of the two airplanes, bearing tail number MSN139 and service number 21, is intended to be delivered to the country by the end of this year. The second airliner is scheduled for delivery in 2025. The A400M can carry 116 fully equipped paratroopers and 37 tons of cargo at a time. It quickly transforms into a flying hospital with accommodations for 66 stretchers.

Avatar

Times of Central Asia

@economist.kg

18 Apr 2024
Central Asia, Kyrgyzstan, Business & Economy, Kyrgyzstan Business & Economy, Features

Market Capitalization of the Kyrgyz Stock Exchange Reaches Record Level

In a short period of time, the Kyrgyz Stock Exchange (KSE) has launched various financial instruments: a government securities market, a precious metals market, other commodities instruments, and a sustainable development sector, KSE President Medet Nazaraliev explained at a meeting with representatives of the business community.

The head of the exchange said that businesses registered in Kyrgyzstan have begun to show interest in the opportunities of the KSE, and with increasing financial literacy, more and more companies are interested in issuing securities to raise funds. KSE’s market capitalization, according to official data, reached a record high of $1.25 million in the first quarter of 2024.

“In recent years, the country’s stock market has seen growth in all indicators. For sustainable development, companies need to expand the sources of attracting investments, and today the stock market [helps] to attract investments by issuing shares, bonds, creating a public [market] history and increasing the reputation and recognizability of the company,” said Nazaraliev.

At the meeting with participants of the Kyrgyz Chamber of Commerce and Industry, representatives of the exchange emphasized that it is important to develop not only the securities sector, but also the commodities sector. “One of the important tasks of the stock market is to ensure a high level of liquidity of investments in securities, [and] guarantees of execution of transactions. I hope that in the future the stock exchange will become a place for mass transactions in the commodities sector, as well. All over the world, commodity exchanges help to quickly raise money to increase production of high-demand goods and realize the tasks of creating transparent pricing mechanisms, including for commodities. Exchange mechanisms prove to be effective in terms of developing competition and ensuring equal access to goods,” said KSE Vice President, Aida Chodulova.

Officials are preparing to launch a digital project which will allow citizens to invest in securities online. There are also plans to attract international investments. International ratings agency, S&P Global Ratings is scheduled to evaluate the activities of the KSE, and the Kyrgyz government and business community hope that this will help the Republic multiply its chances of attracting foreign capital through the exchange.

Avatar

Times of Central Asia

tdh.gov.tm

18 Apr 2024
Central Asia, Turkmenistan Home, Turkmenistan, Turkmenistan Business & Economy, Business & Economy

Turkmenistan Opens New Section of Strategic Highway

On April 17, Turkmenistan President Serdar Berdimuhamedov attended the launch of a new section of the Ashgabat-Turkmenabat high-speed highway linking the cities of Tejen and Mary.

Phased construction of one of the most ambitious transport projects in Turkmenistan began in January 2019. Covering 600 kilometres, it comprises three sections – Ashgabat-Tejen (203 kilometres), Tejen-Mary (109 kilometres), and Mary-Turkmenabat (288 kilometres) – and once completed, will provide a faster and more economical means of transporting goods across the country.

Hailing the high-speed Ashgabat-Turkmenabat highway a modern revival of the ancient Silk Road, President Berdimuhamedov reiterated his country’s commitment to the development of transport corridors from East-West and North-South and stated: “Turkmenistan is located at the junction of two continents, and such a favourable location provides a huge advantage in the formation of an international transport and logistics corridor, the integration of the domestic transport sector into the global system and the expansion of trade, economic, cultural and humanitarian ties with partner countries.”

Times of Central Asia

Times of Central Asia

Kazakh Kyrgyz commerce

18 Apr 2024
Central Asia, Kyrgyzstan, Business & Economy, Kazakhstan, Kyrgyzstan Business & Economy, Kazakhstan Business & Economy

Kazakhstan and Kyrgyzstan Sign Commercial Deals Worth $300 Million

On the side-lines of the Kazakhstan and Kyrgyzstan business forum on April 17 in Astana, businesses signed off commercial deals totalling $300 million.

Attended by Deputy Prime Ministers of Kazakhstan and Kyrgyzstan, Serik Zhumangarin and Adylbek Kasymaliev, the forum attracted companies engaged in mechanical engineering, industry, metallurgy, construction, logistics, agriculture, pharmaceuticals, investment, and service industries.

According to a report by the Kazakh Ministry of Trade and Integration, lucrative joint projects include the construction of solar power plants, a ferroalloy plant, a distribution centre in Kyrgyzstan, and the exchange of supplies of agricultural and other products.

In 2023, trade turnover between Kazakhstan and Kyrgyzstan rose by 26% compared to the previous year, reaching $1.6 billion. Kazakhstan’s exports accounted for $1.1 billion, an increase of 35.8%, and imports stood at $495.2 million, an increase of 9%.

Times of Central Asia

Times of Central Asia

@iStock

17 Apr 2024
Features

Uzbekistan’s Population Rises to Almost 37 Million

According to data produced by the Statistics Agency of Uzbekistan, the country’s permanent population reached 36,963,262 on 1 April this year; an increase of 2.1% or 163,500 residents, compared to the beginning of 2023.

Remarkably, records indicate that from January to April, an additional 54,500 people were either born or settled in the country each month and the number of permanent residents is increasing by 1,800 people per day.

Amongst the growing population, 56.3% are citizens of working age and as recorded on 1 January, men outnumber women by 250,266.

Avatar

Times of Central Asia