• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09166 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28573 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09166 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28573 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09166 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28573 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09166 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28573 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09166 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28573 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09166 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28573 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09166 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28573 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09166 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28573 -0.14%

Viewing results 901 - 906 of 1242

Middle Powers Converge: Kazakhstan and Singapore Strengthen Bilateral Ties

During his country’s first presidential-level visit to Singapore in two decades, Kazakhstan’s President Kassym-Jomart Tokayev met with Singapore’s Prime Minister Lawrence Wong on May 23. The meeting represents an alignment of interests and resources between the two middle powers and serves to create a more balanced and cooperative global environment.   Identifying middle powers When global powers become embroiled in their domestic issues or engage in rivalries that prevent effective international cooperation, middle powers step in to fill the leadership void. For instance, Canada has historically taken a lead in peacekeeping missions under the United Nations, advocating for human rights and mediating conflicts where larger powers are either unwilling or unable to engage. Middle powers, also referred to as “swing states”, are defined as influential players in international politics who resist taking sides in major conflicts and possess a specific combination of characteristics such as geostrategic location, demography, economic performance, natural resource wealth, military power and/or political influence. In a January 2024 study, the German Institute of Security and International Affairs (SWS) listed Kazakhstan among twelve notable “middle powers” in the world, who were of great importance to Germany and the EU for either shaping policies or minimizing geoeconomic risks by diversifying foreign policy relations. Kazakhstan possesses immense energy resources and critical materials for the green transition. Bordering Russia, China, and the Caspian Sea, it also offers a land bridge linking East-West and North-South corridors. Singapore is also considered a middle power with its notable regional and international influence, particularly in the Indo-Pacific region. A highly developed country with one of the highest per capita GDPs in the world, Singapore is the only nation in Asia with a “AAA” sovereign credit rating from all major rating agencies. Additionally, it has one of the highest per capita defense expenditures globally and is among the largest arms manufacturers.   A partnership between Kazakhstan and Singapore strengthens their middle power status What distinguishes middle powers from smaller powers is their ability to be more independent and active, particularly in the realm of diplomacy. The collaboration between these two leaders, therefore, helps solidify their middle power status. On a diplomatic level, President Tokayev emphasized Singapore's role as Kazakhstan’s strategic partner in Southeast Asia and expressed confidence that his state visit would strengthen bilateral relations. For his part, Prime Minister Wong highlighted that Singapore could serve as a gateway for Kazakhstan to engage with Association of Southeast Nations (ASEAN) while Kazakhstan could help Singapore build ties with Central Asia. Economically speaking, collaboration offers great potential gains for both sides. Currently, over 140 Singaporean entities and joint ventures operate in Kazakhstan, with total investment exceeding $1.7 billion. These numbers are expected to rise through further integration of their economies. During their recent meeting, the leaders focused on key sectors where Kazakhstan brings high strategic value. For instance, Wong expressed the importation of more agri-food products from Kazakhstan. Singapore’s Indorama Corporation is already in discussions about the production of phosphate fertilizers in Kazakhstan. Logistics is another key...

World Bank Helps Kyrgyzstan To Restore Its Natural Landscape

The World Bank will provide Kyrgyzstan with a $52.4 million loan to restore some of the country's land. The allocated funds will be used to reconstruct over 450km of protective structures, build 26km of dams, strengthen riverbanks, undertake landscaping, and purchase equipment. The project is designed to directly benefit more than 50,000 people in the Jalal-Abad, Osh, Issyk-Kul, and Naryn regions. A government report on the landscaping project says: "Of this amount, 45 million dollars will be provided in the form of a loan from the World Bank, 5 million dollars will come in the form of a grant from the Global Partnership for Sustainable Landscapes (PROGREEN), and another 2.4 million dollars will be allocated by the Korea-World Bank Partnership Fund (KWPF)." The loan will be for 10 years with a grace period of 50 years, with 38 years of the loan being interest-free.

Uzbekistan to Build a Nuclear Power Plant

During the Russian president's state visit to Uzbekistan, a protocol on amending the intergovernmental agreement on cooperation between the two countries in the construction of a nuclear power plant in Uzbekistan was signed, Atom Media reports. On the margins of the event, Russia's Atomstroyexport joint stock company and the Directorate for NPP Construction under the Atomic Energy Agency of the the Cabinet of Ministers of the Republic of Uzbekistan signed a contract for the construction of a small-capacity nuclear power plant (SCNPP). The project envisages a Russian-designed ASMP in the Jizzakh region with a capacity of 330 MW (six reactors with a capacity of 55 MW each). Rosatom will be the general contractor for the construction of the plant, with local companies also be involved in the construction. Thus, Rosatom has signed the first-ever export contract to construct a small-capacity nuclear power plant. "According to forecasts, the demand for energy resources in Uzbekistan will almost double by 2050, and it is obvious that for the stable operation of the energy system and the development of the economy, our country must provide itself with a basic source of energy. All over the world, we are now seeing a growing interest in the creation of new nuclear facilities, both in terms of building large-capacity NPPs and small modular reactor projects. We believe that expansion of cooperation with Rosatom will allow us to strengthen our energy complex with advanced technologies in nuclear energy," Azim Akhmedkhadzhaev, director of the Atomic Energy Agency under the Cabinet of Ministers of the Republic of Uzbekistan commented on the signing. Construction work on the site will begin this summer. The project of construction of ASMM is based on the latest Russian development - the RITM-200n reactor. This development has been tested in Arctic conditions on the newest Russian icebreakers. Since 2012, 10 RITM-200 reactors have been manufactured for the universal nuclear icebreakers Arktika, Sibir, Ural, Yakutia and Chukotka. The first three have already been commissioned and are successfully fulfilling their obligations to guide caravans of ships in the western region of the Arctic. The safety of the planned low-capacity nuclear power plant will be achieved through multilevel systems and containment barriers. The combination of active (requiring power supply sources) and passive (operating without a power source) safety systems makes it possible to achieve the highest possible level of plant safety. These systems are implemented to prevent the possibility of an accident, and several levels of barriers incorporated in the plant design avoid the release of radioactive substances into the environment. According to the IAEA, approximately 50 ASMM designs and concepts are at various stages of development worldwide. Rosatom and Uzatom have yet to announce the cost and planned timing for the completion of the project.

Poland and Russia Ensure Continued Transit of Kazakh Oil to Germany

Pipeline operators PERN (Poland) and Transneft (Russia) have agreed to ensure the continued transit of Kazakh oil to Germany,  reported Reuters. The Druzhba pipeline runs through Russia to the Belarusian city of Mozyr, after which it splits northwards in the direction of Poland and Germany, and southwards, to Hungary, the Czech Republic, Slovakia and Croatia. The northern pipeline has the capacity to  carry  two million barrels of oil per day from Kazakhstan into Poland. Back in  April, Transneft warned Kazakhstan that the transit of its oil to Germany could cease as a result of the situation concerning the certification of oil flow meters in Poland. The devices must be periodically certified for compliance with Russian standards and the verification of oil flow meters on the Polish section of the Druzhba pipeline must be completed by June 5. To  address the issue , the  Polish pipeline operator PERN, Russian state-owned Transneft, and German refiner PCK Schwedt, which receives supplies from Kazakhstan, have agreed that the German company will maintain oil flow meters on the Polish section of the Druzhba pipeline. The work required to maintain metering on the Polish section and in turn, remove the risks imposed by  PERN's sanctions,  are to be undertaken by an unnamed Slovak company.

Uzbekistan Interested in Afghan Oil and Gas

TOLOnews reports that Russian and Uzbek companies have expressed their intention to develop oil and gas fields in Afghanistan, whilst the interest of other Central Asian countries in this field is also growing. "Recently, we had meetings with Uzbek companies," Homayoon Afghan, spokesperson for the Ministry of Mines and Petroleum said. "The Ministry has announced several oil and gas sites to attract investment, including the Herat oil and gas fields.” Plans for the exploration and extraction of oil, gas and other minerals became one of the main topics discussed during the visit of the delegation of Uzbekistan to Kabul. At that time, it was reported that Uzbekistan wanted to buy more than 1 million tons of coal from Afghanistan. Also, on May 21 of this year, Uzbekistan sent humanitarian aid to the people affected by floods in Afghanistan. This aid included 48 tons of flour, 22 tons of rice, 100,000 canned goods and 44 tons of pasta products, 96 water storage tanks of 1,000 liters, etc. The UN World Food Program has reported that more than 300 people have died and 1,000 homes have been destroyed in floods caused by heavy seasonal rains in Afghanistan.

First Uzbek to Receive Doctoral Degree from Harvard Business School

Economist Botir Kobilov has become the first Uzbek to receive a doctoral degree from Harvard Business School (part of Harvard University)  reported Gazeta.uz. The topic of his doctoral dissertation was "The Role of Information and Data in the Financial Market and Economy". According to an earlier report, Kobilov worked as a doctoral student and researcher in empirical law and finance in the corporate governance program of Harvard Law School. Prior to enrolling at Harvard, he attained a master's degree in economics from Duke University in the United States and a bachelor's degree from the Singapore Institute of Management Development in Tashkent. In his early career, he worked as a leading economist at the Central Bank of Uzbekistan. His key areas of interest include the impact of new technologies and new sources of information on financial reporting, law enforcement, compliance, investor communication and decision-making. Botir Kobilov now plans to pursue a faculty position at Texas State University.