• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.10526 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.10526 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.10526 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.10526 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.10526 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.10526 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.10526 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.10526 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%

Viewing results 1405 - 1410 of 2392

Kazakh Tourists Who Left Greece Face Charges in Island Fire

The Greek authorities have charged eight Kazakh citizens with complicity in arson after a forest fire that was allegedly caused by fireworks on the tourist island of Hydra, according to Greek media. Some of the tourists are believed to be wealthy, prominent figures in Kazakhstan and the case has stirred anger in Greece, which has experienced high temperatures and wildfires in recent weeks. The Kazakh tourists were on a luxury boat near Hydra around the time of the fire on the night of June 21, but are unlikely to appear in a Greek court soon because they left Greece by plane on the morning after the blaze. Media reports say a number of minors with the Kazakh group have not been charged. Greek outlet tovima.com said the charge was a misdemeanor. The captain and 12 crew-members of the vessel Persephone were charged with the felony of arson and authorities are investigating how the boat passengers from Kazakhstan were able to leave the country before they could be questioned. The charges against the Kazakh tourists came after investigators found the remains of firecrackers on a Hydra beach and concluded that the passengers were on the beach at the time. Initial reports said fireworks were fired from the boat but have since been discounted. Greek authorities have asked their Kazakh counterparts for help in the case, reported Kathimerini, a Greek newspaper. Another media outlet, Proto Thema, said “the only possibility” that the suspects could be brought to court is if they return voluntarily to Greece, though it also said they could theoretically be subject to arrest and transfer to Greece if they are found in another European country. Citing a “manifest obtained by journalists,” the OCCRP, an investigative reporting group, listed the names of some of the Kazakh passengers who were on the Persephone. The names are now circulating in Greek media, with some reports referring to them as “oligarchs.”

Turkmenistan Discusses TAPI Pipeline with Officials from UAE, Pakistan

The Turkmenistan-UAE business forum was held in Turkmenistan on June 25. According to the portal Chronicles of Turkmenistan, the country has signed a memorandum of understanding with Abu Dhabi National Oil Company (ADNOC) on cooperation in developing the third stage of the Galkinish field, a potential primary supply source through the TAPI gas pipeline. This gas pipeline is essential for the country from an economic point of view, both at the national level and for transit countries and consumers. Turkmenistan's president Serdar Berdimuhamedov, and his father, the former president Gurbanguly Berdimuhamedov -- who is now the chairman of the country's People's Council -- discussed with Pakistan's minister for industries Rana Tanveer Hussain the construction of the TAPI (Turkmenistan-Afghanistan-Pakistan-India) gas pipeline project, and the TAP (Turkmenistan-Afghanistan-Pakistan) route. The discussions covered high-level visits between the two countries, trade and economic cooperation, transport communications, transit and trade collaboration, parliamentary cooperation, and people-to-people relations.

Tajikistan and OSCE Discuss Cooperation

Tajikistan's president Emomali Rahmon has received the OSCE chairperson-in-office, Maltese foreign minister Ian Borg, in Dushanbe. The meeting discussed cooperation issues in various spheres, Rahmon's press service is reporting. "From the first days of establishing relations with the Organization, we have expressed readiness to expand mutually beneficial cooperation," Rahmon stressed. The parties discussed regional and global problems and the expansion of military-political, economic, and environmental ties within the Organization for Security and Cooperation in Europe (OSCE) framework. The need for close cooperation among the Organization's member states in preventing and mitigating the negative consequences of climate change, such as unprecedented warming, floods, prolonged droughts, fires, and other natural disasters, was recognized. During the conversation, the sides exchanged views on security, combating cybercrime, and preventing the misuse of the internet to promote and agitate extremism, radicalism, and violence. In bilateral relations, there was satisfaction with the cooperation within international organizations, particularly the OSCE and the European Union. In addition, ways to expand bilateral relations between Tajikistan and Malta in areas such as inter-parliamentary ties, trade, investment, entrepreneurship, tourism, and cultural and humanitarian cooperation were discussed.

EU-Funded Projects Strengthen Central Asia’s Trade and Economic Ties

On 26 June, Almaty hosted the closing meeting of two regional projects in Central Asia funded by the European Union: the ITC Ready4Trade Central Asia and the OECD Policy Component of the EU Central Asia Invest Programme. As reported by the Delegation of the European Union to Kazakhstan, both initiatives have done much to support Central Asian countries' efforts to advance trade reforms, enhance competitiveness, foster connectivity and strengthen regional cooperation. The event brought together policymakers and key stakeholders from private and public sectors in Central Asia, as well as representatives of the European Union, the International Trade Centre (ITC), and the Organisation for Economic Co-operation and Development (OECD). "The European Union has long been supporting the governments of Central Asian countries in their business environment and trade and transport connectivity reform efforts together with international partners, including ITC and the OECD,” said Kestutis Jankauskas, Ambassador of the European Union to Kazakhstan. “Going forward, we will endeavour to develop the potential of the Trans-Caspian Transport Corridor together with our Central Asian partners to make it a competitive, multimodal and sustainable corridor that can bring Central Asia and Europe closer together. We look forward to the new EU-funded Prosperity Programme to be implemented by ITC and the OECD to support the implementation of this goal.” The ITC Ready4Trade Central Asia project has made significant progress in enhancing intra-regional and international trade across five Central Asian countries. In close collaboration with the governments, the project tackled obstacles to cross-border trade by simplifying and digitalising trade procedures, ensuring greater transparency and efficiency terms of cost and time. The project also established national SME Trade Academies, providing tailored on-the-job coaching and enhancing the capacity of SMEs to participate in the global market. The OECD has supported reforms in areas including  private sector development, internationalization, digitalisation, trade and transport connectivity, and resilience to shocks. Zhanel Kushukova, Vice-Minister of Trade and Integration of Kazakhstan, commented: “In recent years, significant work has been done in Central Asian countries to simplify and optimize trade procedures, reduce the time for trade operations and automate customs processes. This has allowed us to almost double the volume of trade turnover over the past five years, to $10 billion. In the medium term, Kazakhstan plans to increase trade turnover with Central Asian countries to $15 billion.” Kazakhstan’s QazTrade agency estimates that the implementation of the recommendations proposed by the above projects and the transition to paperless trade will lead to a 30 percent increase in trade turnover in the medium term.  

Kyrgyzstan and EU Strengthen Economic Cooperation

During his working visit to Brussels, Kyrgyz President Sadyr Japarov held talks with Valdis Dombrovskis, the Executive Vice President of the European Commission. The main topics of discussion were deepening trade and economic cooperation, attracting investment, realizing joint projects in mining and the green economy, introducing digital technologies, and developing human resources. Dombrovskis emphasized the importance of strengthening partnerships between Kyrgyzstan and the European Union. He noted that signing the Enhanced Partnership and Cooperation Agreement opens new opportunities for realizing mutually beneficial trade and economic projects. He also expressed the EU's readiness to deepen economic cooperation and interest in participating in significant energy and infrastructure projects, such as the Kambarata HPP-1 and the China-Kyrgyzstan-Uzbekistan railroad, emphasizing their financial potential. Sadyr Japarov thanked the EU for its support and for signing the new Agreement on Enhanced Partnership and Cooperation, expressing his confidence that it would strengthen the agreements reached and create a modern legal basis for future bilateral interaction. The President noted that Kyrgyzstan provides significant opportunities for trade and investment due to its geographical location and transit potential. Japarov also emphasized the country's commitment to the green agenda, stating its intention to reduce greenhouse gas emissions by 44% by 2030 and achieve carbon neutrality by 2050. As part of the initiative to develop a green economy, Japarov proposed exchanging foreign debt for green projects, thus improving the global environmental situation. Projects on water management and the introduction of environmentally friendly technologies in Kyrgyzstan's mining industry were also discussed.

Kazakhstan Stock Exchange Set to Recoup Shares from Moscow Exchange

The Kazakhstan Stock Exchange (KASE) has approached the Moscow Exchange (MOEX) with an offer to buy back its shares. The move was prompted by the US sanctions imposed on MOEX, Russian publication Frank Media reported, citing sources close to the Russian trading floor. Moscow Exchange presently owns 13.1% of KASE shares. It acquired the first part of this stake (3.3%) in early 2020 and increased it to the current level at the end of the same year. The KASE shares were obtained as part of a strategic partnership for the Russian side's technology. The stake has a market value of KZT 12.1 billion, equivalent to RUB 2.2 billion ($25.9 million). In mid-June 2024, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) included the Moscow Exchange in the SDN list and issued a license to curtail operations with MOEX until August 13. The UK has joined the sanctions against MosBirch. "KASE will consider continuing business relations with MOEX taking into account the sanctions restrictions," stated the Kazakh exchange, the day after sanctions against Mosbirzhya were imposed. Timur Suleimenov, chairman of the National Bank of Kazakhstan, who has repeatedly mentioned the possible buyout of MOEX's stake in KASE, was vague however, when citing various options. "The National Bank has 47% in KASE. We have our funds, so we will buy out [Moscow Exchange's stake if such a decision is made]," he said on June 13, immediately after the sanctions against the Russian exchange were imposed. The head of the republic's regulator also said that KASE is negotiating with MOEX and considering various options, including possibly buying back shares. Some indirect data point to the preparation for the buyout. In the middle of last week, KASE announced the convocation of the extraordinary general meeting of shareholders in a month, at which the only question to be discussed is the methodology change for determining the cost of shares of Kazakhstan exchange at their redemption. According to the FM interlocutor close to the Russian Central Bank, Mosbirzha may agree to sell its stake in the Kazakhstan Stock Exchange under these conditions. In the past, entering the capital and providing technologies to KASE had a strategic goal—to leave it in the zone of Russian influence, he noted. In particular, American Nasdaq could provide technologies for the Kazakhstan stock exchange. South Korea has  likewise expressed interest in KASE .