• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09217 0.66%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09217 0.66%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09217 0.66%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09217 0.66%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09217 0.66%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09217 0.66%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09217 0.66%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00201 0%
  • TJS/USD = 0.09217 0.66%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
16 February 2025

Viewing results 619 - 624 of 674

Mudslides in Kyrgyzstan Flood Over 200 Homes

Kyrgyzstan's emergencies ministry has formed an operational headquarters to deal with recent flooding in the south of the country. Rescuers report that hundreds of local residents have been evacuated to safety. Flooding due to heavy rains began last week in Kyrgyzstan's southern Osh region, prompting the region to declare a state of emergency. More than 500 people, including local volunteers, are currently working to clear up the damage caused. "At about 22:00 (April 22), information was received that flood waters inundated houses and roads due to heavy rain in Mady, Besh-Moinok, Kyrgyz-Chek, Asan-Chek villages of the Kara-Suu district of Osh region," the emergency ministry has commented. Unstable weather and heavy rains have already caused mountain mudslides in four regions of Kyrgyzstan. In total more than 30 mudslides have been recorded in recent days, inundating more than 200 homes. Rescuers quickly cleared some villages and districts; however, meteorologists warn that avalanches and flooding may continue until April 26, as the water level in rivers will rise.

Kyrgyzstan’s Law on NGOs: What Alarms Human Rights Activists?

In April 2024 Kyrgyz President Sadyr Japarov signed a law on non-governmental organizations (NGOs). Now all NGOs must submit full financial reports and register with the Ministry of Justice. Despite the authorities' statements about the need for a document regulating the financing of such organizations, the law has numerous opponents. President Japarov himself claims that some NGOs have deceived donors by using foreign funds -- meant for roundtable discussions, training sessions and projects -- for personal purposes. "If you say that this is not true, I can prove it. Why do NGOs in developed countries register with the Ministry of Justice, tax service, open a bank account and do not do the same when they come to us? Or are we a second-rate country? No, we are not. We will not allow such dubious actions anymore," Japarov said after criticism from NGO representatives. Under the new legislation, an NGO that has received foreign aid will be called a "foreign representative". Public activists claim that the rule is consonant with the Russian law on foreign agent status for nonprofits that accept foreign funding. Such a situation will carry certain reputational risks: according to the law, organizations that receive funding from abroad and deal with political issues must be included in a special register and operate under the control of state bodies. In an interview with The Times of Central Asia, Azisbek Ashurov, head of the NGO 'Lawyers of Fergana Valley Without Borders' and a human rights activist, spoke about the pitfalls of the law. In Ashurov's opinion, the document is designed to limit the activities of the private sector. "We are concerned about the re-registration procedure itself. Either it is just an application procedure, or someone will approve, make decisions. When decisions are made, how transparent and non-corrupt will it be?" he asked. Ashurov gave the example that in Kyrgyzstan there are NGOs providing legal assistance to citizens. If there is a dispute with a government body, the decision is challenged in the courts. However, now such structures will be dependent on the state and will not be able to work fully independently. "State bodies have been authorized to interfere in the activities of NGOs. This is participation in their internal activities. We discuss some of our cases [via] collegiums, when lawyers discuss the strategy for different cases. Now, imagine, a representative of the state will sit and listen to confidential information that in the interest of the citizen we should not disclose. The balance is grossly upset. The adversarial principle is violated if we are preparing for court hearings against state bodies, for example, against the Ministry of Justice," Ashurov added. According to him, the Ministry of Justice was given the opportunity to suspend the activities of NGOs for violations. However, the current legislative framework doesn't specify the violations for which an NGO can be suspended. The law prescribes that state bodies may request information from NGOs -- however, it's not specified what kind of information should be provided. In...

Uzbekistan to Open Centres for Workers Seeking Employment Abroad

The Uzbek government is to open 27 educational institutions across the country for the purpose of training potential migrants in professions in demand by foreign employers. Students will also have access to lessons in various languages including English, German, Japanese, Korean and Arabic. Courses will be offered on a paid-contract basis for a year. Attendees with existing proficiency in languages spoken in countries of their choice, will be eligible for a 50% reimbursement by the state of costs incurred in attaining related certificates. Teachers at the centres will receive a 100% salary supplement. The government of Uzbekistan had earlier announced measures to support citizens seeking employment abroad and from June this year, migrant workers will be offered compensation for passing the qualification exam, obtaining a work visa in a foreign country, travel costs and insurance. In addition to training programmes to open up opportunities in better-paid and professional jobs outside Uzbekistan, the government has now confirmed further subsidies for legal and material assistance. According to the Uzbek Agency for External Labour Migration, some 70,000 citizens have legally secured work abroad over the past two years and Germany, Great Britain and Japan have recently shown great interest in employing Uzbek migrants. Remittances from labour migrants to Uzbekistan remain a material part of the country's gross domestic product (GDP) -- accounting for 17.8% in 2023. In neighbouring Tajikistan, migrant remittances account for almost half of the country's economic output, and in Kyrgyzstan, 20%.

Funds from Kazakhstan’s National Fund to be Invested in New Format

The National Bank of Kazakhstan has revealed its strategy for investing the National Fund's money in alternative instruments, emphasizing the gradual increase in money committed to that tranche of investments to $2.5 billion by 2025. This portfolio, launched in 2023, represents 3% of the total allocation of the savings portfolio and will be a key element of asset diversification. National Bank officials note that this decision came as part of a drive to balance the National Fund's assets and improve returns. This, in turn, contributes to additional diversification and mitigation of risks. The National Fund Management Concept to 2030, developed by the country's main bank and approved by president Kassym-Jomart Tokayev, defines strategic principles and approaches aimed at maximizing returns. It includes the use of defensive strategies, factor investing, and also pays attention to ESG (Environmental, Social & Governance) principles. The structure of the National Fund consists of a stabilization portfolio and a savings portfolio. While the former is invested in short-term government securities issued in developed economies, the latter is more diversified and includes a wide range of assets, including alternative instruments and a gold portfolio. The National Fund's assets currently stand at $60.7 billion, despite the withdrawal of 35.5 trillion tenge (~$77 million) over the past ten years, mostly during the pandemic.

Turkmenistan’s Government Employees Should Know President’s Biography in Order to Pass Certification

According to a report by the Chronicles of Turkmenistan, the main questions asked to employees of state bodies in Turkmenistan during the attestation period are related to the president and his relatives. This year, employees of the Transport and Communications Agency, the Health and Medical Industry, the Ministry of Labor and Social Protection of the Population, the Ministry of Public Education, and the Turkmen Oil Concern were certified in Ashgabat. Reportedly, employees of these institutions were warned about the need to pass the certification, and people were prepared for questions about their profession and job responsibilities, with those who had bought a diploma and didn't have a deep understanding of their specialty especially worried. However, the examiners were not interested in the civil servants' professional knowledge, but in the biography of President Serdar Berdymukhamedov. People were asked where he was born and educated, what positions he held, his family members and the books he has purportedly written. Not all civil servants passed the certification. Managers have threatened to demote or cut their salaries of those who failed, whilst encouraging their employees to apply for recertification, the report stated.

Kyrgyz Authorities Seeking Monopoly on Insurance, Industry Group Says

The Kyrgyz Association of Insurers is sounding the alarm that private insurance companies may soon be out of work due to government interference. According to a decree signed by Kyrgyz President Sadyr Japarov, all state bodies and local governments are now instructed to insure all their property with the State Insurance Organization (JSC SIO) in order to develop the national insurance market. "The Cabinet of Ministers of the Kyrgyz Republic will define JSC SIO as the national operator for reinsurance, including export risks, within the framework of cooperation with the Eurasian Reinsurance Company," the document says. The Kyrgyz Association of Insurers appealed to human rights activists to assist in protecting their interests. Private insurers are sure that the new law violates their rights and doesn't comply with Kyrgyzstan's current legislation. "According to insurers, the principles of entrepreneurial activity established by the legislation of the country, such as non-interference of state bodies in the activities of business entities, are violated. In addition, the state guarantees for the protection of the rights of entrepreneurs equal rights and opportunities to access financial resources -- as well as the creation of conditions for the protection and development of competition -- are being violated," - said the International Business Council, which was engaged by Kyrgyz private insurance companies on the matter. The current law "On Organization of Insurance in the Kyrgyz Republic" prohibits interference in insurance activities. Private insurance brokers and business owners argue that the state is playing an unfair game at the legislative level, forcing state-owned companies to insure their property with the SIO. Besides, the financial means to underwrite risk and pay out possible insurance claims are miniscule to the capitalization of private insurers. Last year, the authorities increased the capitalization of the SSO to 1 billion som, and this year they will allocate another 300 million som by presidential decree. "In the prescribed manner by 2027 to find and gradually allocate funds in the amount of 5 billion som to JSC "SIO" to increase the authorized capital... By 2027, the annual profit in the amount of 100 percent, received from the activities of JSC "SIO," will be directed to increase the authorized capital at the expense of the distribution of budget revenues and expenditures," the law reads. Today, 15 insurance companies, including SSS -- as well as several Chinese and Kazakhstani insurers -- operate in the Kyrgyz market. People familiar with the situation who spoke to The Times of Central Asia say most of the major national companies are already insured with SIO, meaning that only civil insurance lines -- like health and life -- and auto insurance remain for private insurers.