• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10896 -0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10896 -0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10896 -0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10896 -0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10896 -0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10896 -0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10896 -0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00196 -0%
  • TJS/USD = 0.10896 -0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
09 December 2025

A Tale of Two Mountain Climbers in Asia: One Prevails, Another Succumbs

 The line between triumph and disaster is sometimes thin in the world of mountain climbing.

On Aug. 11, Eduard Kubatov of Kyrgyzstan reached the summit of K2 in Pakistan without supplemental oxygen, part of his bid to climb the 14 mountains internationally recognized as “eight-thousanders,” or peaks that are more than 8,000 meters above sea level.

On the same day, hundreds of kilometers to the north, Russian Nikolay Totmyanin, 66, died after ascending another extremely challenging mountain – Pobeda Peak, which lies on the border between Kyrgyzstan and China and is 7,439 meters above sea level. It is also known by the Kyrgyz name Jengish Chokusu (Victory Peak).

Totmyanin made the summit but then fell ill on the way down.

“He came down on his own, pushing hard, knowing he had to get lower as quickly as possible. On the evening of August 10, 2025, he was admitted to intensive care in Bishkek. By morning, he was gone,” said Anna Piunova, editor of Mountain.RU, a Russian website that covers climbing news.

“His climbing resumé is staggering, hard to believe a single lifetime could hold so much,” Piunova said on Instagram. “More than 200 ascents in the Caucasus, Pamirs, Tien Shan, Alps, Himalayas, Karakoram, and North America, including 63 big-wall climbs.”

Piunova did not go into detail about Totmyanin’s illness, but the lack of oxygen at such heights can have lethal effects.

Both K2 and Pobeda Peak can be approached from the Chinese side of the borders, but the difficulty of access and logistical challenges deter most international climbers from a route via China.

While Totmyanin was a more recognized figure on the international climbing scene, Kubatov, the 53-year-old head of Kyrgyzstan’s Mountaineering Federation, has been building an impressive record and enjoys wide appreciation in Central Asia. Kubatov has scaled several of the eight-thousanders without supplemental oxygen. He celebrated the K2 achievement with a message on Facebook on Thursday that acknowledged the dangers of the mountain, where climbers faced an especially tough environment this season because of low snowfall and an increased threat of rockfalls.

“Friends, K2 is ours! On August 11 at 17:00, I was on this great summit without using oxygen!” the Kyrgyz climber said. “Friends, yesterday, August 13 at 5 a.m., I descended from the summit of K2 — 8,611 meters! Unfortunately, during the descent, many suffered severe injuries, and one female climber died.”

The climber, Guan Jing of China, died on Aug. 12 while descending from the K2 peak with an expedition led by Imagine Nepal, a company founded by Sherpas. The Tourism Times, a publication based in Kathmandu, reported on Wednesday that efforts were underway to recover her body.

Kubatov was with a joint team from Seven Summit Treks and 14 Peaks Expedition, which are also based in the Himalayan country. The climber, who will surely receive a big welcome on his return to Kyrgyzstan, said he was “slightly unwell” but looking forward to going home.

Totmyanin, the Russian climber known in some mountaineering circles as “Iron Uncle Kolya,” climbed K2 nearly two decades ago. Like Kubatov, he did it without bottled oxygen. His funeral is scheduled for Sunday in Smolensk, Russia.

World Bank: Central Asia’s Growth to Slow but Remain Resilient

Central Asia is set to remain one of the world’s fastest-growing regions, although its economic momentum is expected to moderate in the coming years, according to the World Bank’s Spring 2025 Europe & Central Asia Economic Update. The region posted a growth rate of 5.5% in 2024, with projections of 5.0% for 2025 and 4.4% for 2026 as oil output normalizes in Kazakhstan, re-exports fade, and remittance inflows settle. The World Bank also revised its 2024 forecast upward by 0.8 percentage points, citing stronger-than-anticipated domestic demand. The forecasts incorporate data available through April 10, 2025.

Country-Level Outlook

Uzbekistan is forecast to grow by 6.5% in 2024, followed by 5.9% in both 2025 and 2026. Kyrgyzstan is expected to expand by 9.0% in 2024 and 6.8% in 2025. Tajikistan will grow by 8.4% in 2024 and 6.5% in 2025. Kazakhstan’s growth is projected to be more moderate, at 4.8% in 2024 and 4.5% in 2025.

The World Bank attributes much of the region’s expansion to robust domestic demand, including household consumption, investment, and government spending, rather than export performance. Remittances continue to play a vital role in economic stability: they account for nearly 40% of GDP in Tajikistan, over 20% in Kyrgyzstan, and are critical in reducing poverty in Uzbekistan, where poverty rates would nearly double in their absence.

Investment and Long-Term Prospects

With investment comprising about 26% of GDP, Central Asia boasts one of the highest investment-to-GDP ratios among developing regions. This is largely driven by construction and large-scale infrastructure projects, particularly in the energy and transport sectors.

However, the road to high-income status remains long. According to the Bank, based on current trajectories, it would take Kazakhstan and Turkmenistan approximately 40 years, Kyrgyzstan 70 years, and Uzbekistan and Tajikistan over 100 years to reach the high-income threshold of $14,005 in per capita income, a benchmark set for 2023.

Risks and Policy Recommendations

These forecasts are based on data available through April 10, 2025, and reflect persistent challenges stemming from the COVID-19 pandemic, ongoing cost-of-living pressures, and regional trade disruptions since 2022.

To sustain momentum, the World Bank urges policymakers to pursue structural reforms and channel investment into productivity enhancements, technology adoption, and innovation. Without such efforts, growth could fall below potential in the years ahead.

ValueLBH Fund to Invest Up to $1.5 Billion in Kazakhstan’s Economy

Kazakhstan is exploring joint investment projects worth up to $1.5 billion with international investment firm ValueLBH Fund, targeting key sectors of the national economy.

Talks were held in Astana between Gabidulla Ospankulov, Chairman of the Investment Committee under the Ministry of Foreign Affairs of Kazakhstan, and Shimon Ben Hamo, Chairman of the Board of Directors of Dan Capital and Managing Director and Partner at ValueLBH Fund.

The discussions focused on expanding investment cooperation and launching projects in transport and logistics infrastructure, agriculture, raw materials processing, renewable energy, oil refining, and high-tech manufacturing.

According to Kazakhstan’s Ministry of Foreign Affairs, the two sides examined specific initiatives such as the construction and modernization of logistics hubs linked to international transport corridors, the deployment of advanced technologies in agriculture, the creation of joint ventures in solar and wind energy, and the development of domestic oil refining capacities.

Ospankulov stated that Kazakhstan is prepared to offer a comprehensive range of state support measures while ensuring access to global markets. “Partnerships with leading investment funds create valuable opportunities for Kazakhstan to diversify its economy and introduce cutting-edge technologies,” he said.

Ben Hamo underscored the country’s strategic location and stable macroeconomic fundamentals, highlighting its potential for integration into global supply chains. The parties agreed to continue consultations and explore the signing of framework agreements.

ValueLBH Fund operates across real estate, energy, infrastructure, and agribusiness, with a strong commitment to environmental sustainability and social responsibility.

As previously reported by The Times of Central Asia, the Eurasian Development Bank (EDB) recently launched the Eurasian Transport Network Observatory, a database tracking 325 infrastructure projects across 13 countries, representing a combined investment of $234 billion as of July 1, 2025.

Turkmenistan and Iran to Build Dual-Gauge Rail Lines at Sarakhs Border Crossing

Turkmenistan and Iran have agreed to construct two new railway lines at the Sarakhs border crossing to enhance freight transport between the two countries, Iranian Railways chief Jabbar Ali Zakeri announced following talks with Turkmenistan’s Minister of Railways, Mammet Akmammedov.

The agreement was reached during bilateral meetings in Turkmenbashi, held on the sidelines of the Third UN Conference on Landlocked Developing Countries, Iran’s Ministry of Roads and Urban Development reported on August 12, according to Biznes Turkmenistan.

Zakeri stated that the project will include the construction of one standard-gauge and one broad-gauge line connecting the Sarakhs stations on both sides of the border. He emphasized the significance of expanding rail infrastructure to improve regional connectivity and noted that technical discussions between the two countries’ rail administrations would follow shortly.

The Sarakhs crossing is a critical transit hub linking Iran to Central Asia and forms part of the International North-South Transport Corridor, aimed at facilitating trade between Asia and Europe.

This initiative aligns with Turkmenistan’s broader strategy to diversify its export routes. Despite possessing the world’s fourth-largest natural gas reserves, the country has long struggled to access stable foreign markets.

In October 2024, Ashgabat signed a landmark deal to supply 10 billion cubic meters of gas annually to Iraq, its first major export agreement in nearly two decades. While Turkmenistan maintains two gas pipelines to Iran with a combined capacity of 20 billion cubic meters, exports have been minimal since 2017 due to ongoing payment disputes.

Kyrgyzstan and Afghanistan Aim to Boost Trade and Economic Ties

Kyrgyzstan and Afghanistan have agreed to open trading houses in each other’s countries as part of a broader effort to deepen bilateral trade and economic cooperation.

The agreement was reached on August 13 during the visit of an Afghan delegation to Bishkek, led by Nooruddin Azizi, Acting Minister of Industry and Commerce of the Islamic Emirate of Afghanistan.

Azizi met with the Kyrgyz Minister of Economy and Commerce, Bakyt Sydykov. The two ministers signed a roadmap for future cooperation, along with a memorandum of understanding focused on enhancing trade and economic ties.

Sydykov described the visit as a significant step toward strengthening bilateral relations and highlighted Kyrgyzstan’s interest in exploring new, mutually beneficial areas of cooperation. He noted that the two countries hold considerable potential for expanding trade.

Discussions also touched on digitalization, with the Kyrgyz side offering to share its experience in the sector with Afghan partners.

According to Afghanistan’s Ministry of Industry and Commerce, the two countries recorded $66 million in bilateral trade during the last solar year (March 2024-March 2025), with Afghan exports accounting for $7 million of that figure. Key Afghan exports to Kyrgyzstan include aluminum and copper utensils, pressure cookers, carpets, fruits, and vegetables.

In January-February 2025 alone, Kyrgyzstan exported $11.5 million worth of petroleum products to Afghanistan, according to Kyrgyz media.

Trade between the two countries has seen an uptick following Kyrgyzstan’s September 2024 decision to remove the Taliban from its list of prohibited organizations. The Kyrgyz Ministry of Foreign Affairs said the move was aimed at promoting regional stability and fostering constructive dialogue.

On September 6, 2024, then-Chairman of the Cabinet of Ministers Akylbek Japarov met with Afghanistan’s Chargé d’Affaires in Kyrgyzstan, Nurullah Amin, to discuss ways to advance bilateral relations. The Kyrgyz side expressed interest in enhancing trade and transport links, jointly developing Afghan mineral resources, and cooperating in energy, industry, and agriculture.

Kazakhstan to Freeze Minimum Wage in 2026 Despite Earlier Promises

Kazakhstan will maintain its current minimum wage of 85,000 KZT per month (approximately $157) in 2026, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin confirmed at a recent press conference.

This announcement contradicts earlier statements made in June by Minister of Labor and Social Protection Svetlana Zhakupova, who indicated that the government intended to raise the minimum wage from January 1, 2026. Finance Minister Madi Takiev had even suggested a possible increase to just over 90,000 KZT ($166). However, Zhumangarin stated that the proposed adjustment has been scrapped.

“We currently have no plans to increase the minimum wage. As of today, it remains at 85,000 KZT, and we are not considering an increase at this time,” he said.

Zhumangarin noted that while pensions and benefits are indexed annually to inflation, the government has allocated 800 billion KZT ($1.4 billion) in the 2026 budget to cover these costs. Takiev added that while calculations had been made for a potential increase, “given the current situation,” the decision was made to leave the wage unchanged.

The minimum wage was last raised in January 2024, from 70,000 KZT ($135 at the time) to its current level. Some members of parliament have called for a broader review of the minimum wage, the minimum subsistence level, and the structure of the official food basket.

In response to a reporter’s question, Zhumangarin acknowledged that he himself could not live on 85,000 KZT per month under current market conditions but stressed that the issue must be approached cautiously.

According to the Ministry of Labor, approximately 170,000 people in Kazakhstan currently earn the minimum wage, while another 160,000 earn around 100,000 KZT monthly. As of the first quarter of 2025, the total number of employed individuals in the country stood at 9.3 million.

Over the summer, AMANAT parliamentary faction leader Yelnur Beisenbayev criticized government statistics, particularly the official average salary figure of 423,000 KZT ($830).

“In our country, three million people earn around 200,000 KZT, of whom 1.8 million live on the minimum wage of 85,000 KZT. So the question arises: who earns 423,000? I believe the government calculates it like this: if Asan earns 1 million KZT, and Yessen and Usen earn 100,000 each, then the average among them is 400,000,” he remarked.