Page 876 – The Times Of Central Asia

01 Feb 2024

Central Asia, Life & Culture, Kyrgyzstan, Kyrgyzstan Business & Economy, Kyrgyzstan Features

Kyrgyz Gold Mines Produce Over 20 Tons Annually, But Local Jewelers Pay Above Global Price

June 28, 2024
By Times of Central Asia

Jewelers in Kyrgyzstan produced goods worth $1.6 million in 2023, five times more than in 2022, the Ministry of Economy and Commerce of Kyrgyzstan has stated. The ministry said the jewelry industry is important for the republic, not only because of its income, but also because of its importance in the country’s culture, history, and tourism, and the government will support it in every way possible.
“As part of the state support to date, jewelry manufacturers pay VAT with an 80% reduction. The leadership of the ministry highly appreciates the contribution of manufacturers to the preservation and development of this beautiful art,” Deputy Minister of the Economy and Commerce, Ainura Usenbekova said at a meeting with jewelers.
Meanwhile, the jewelers noted that despite the fact that more than 20 tons of gold is mined annually in Kyrgyzstan, the main problem for their industry is the supply of this precious metal.

“The situation in this area has not changed for many years. We do not have physical access to metal, and if we do, it is at an inflated price. Gold bars sold to us by the National Bank between 5 and 20% more expensive than the global gold price. Plus, another 5% is added by Kyrgyzaltyn,” said Stalbek Akmatov, president of the Kyrgyz Jewellers Union. Kyrgyzaltyn a Kyrgyz state company which controls gold circulation in the country
Jewelers believe that until issues with the price of gold are settled so it’s sold on the domestic market at prices comparable to those on the London Mercantile Exchange, serious development of the industry is out of the question. The Ministry of the Economy stated that they are aware of the problem, and the authorities are ready to discuss and work on creating competitive conditions for the continued development of the industry.

01 Feb 2024

Central Asia, Kyrgyzstan Justice, Kazakhstan Justice, Kyrgyzstan, Business & Economy, Kazakhstan, Kazakhstan Business & Economy, Kyrgyzstan Business & Economy, Features, Kyrgyzstan Features, Kazakhstan Featurees

Kyrgyzstan Wins ICC Case Against Kazakh State Gas Company

June 28, 2024
By Times of Central Asia

Officials at the International Chamber of Commerce’s (ICC) International Court of Arbitrations in Paris, France, have ruled unanimously ruled in favor of the Kyrgyz Republic in a case brought by Kazakhstan’s state natural gas company QazaqGaz that sought $35 million, according to the Ministry of Justice of the Kyrgyz Republic.

The Kazakh company’s claim was filed in 2020. QazaqGaz had originally sought $35 million during the arbitration proceedings, but later reduced its claims to $15 million by waiving its claim to lost profit. The claims against the Kyrgyz government were based on “expropriation and other violations of the claimant’s rights.”

In 2004, QazaqGaz, together with the Kyrgyz national gas operator, JSC Kyrgyzgaz, established a joint venture (JV) for the purpose of modernizing and operating the Kyrgyz section of the Bukhara-Tashkent-Bishkek-Almaty gas trunk-line. Under the agreement, the Kyrgyz gas operator transferred its share of the gas pipeline to the new JV. The investment agreement called for pipeline modernization, but later the contract was terminated by mutual consent.

The Kazakh company then made claims based on three legal instruments: the Kyrgyz-Kazakh intergovernmental agreement on the promotion and protection of investments; the International Energy Charter, which includes substantive guarantees for the protection of foreign investments; and the Kyrgyz Republic’s law on investments, which protects investors coming into the country.

“The arbitration tribunal agreed with the Kyrgyz Republic’s argument on the expiration of the statute of limitations on the plaintiff’s claims arising from the Law on Investments in the Kyrgyz Republic and considered them inadmissible,” the Kyrgyz Ministry of Justice said in a statement. It’s worth noting that according to Kyrgyz law, the statute of limitations is three years from the moment the claimant discovered the violation of their rights.

The International Arbitration Court rejected the claim on two other legal instruments. According to the Kyrgyz Ministry of Justice, the arbitration panel agreed with the defendant’s argument that the actions of Kyrgyzgaz – which allegedly violated the rights of the plaintiff – cannot be attributed to the Kyrgyz Republic under the rules of international law on state responsibility. Therefore, the Kyrgyz Government cannot be held liable for the actions of Kyrgyzgaz in allegedly wrongfully terminating the contract.

The International Arbitration Court ordered the Kazakh company to reimburse the Kyrgyz side for 60% of its arbitration costs. The decision can be appealed within one month. KyrgyzGaz is now called Gazprom Kyrgyzstan, and is owned by the Russian state gas company.

31 Jan 2024

Central Asia, Uzbekistan, Uzbekistan Local Politics

Indian Pharma Makes Changes After Cough Syrup Kills Uzbek Children

June 28, 2024
By Times of Central Asia

The deaths of several children in Uzbekistan caused by Marion Biotech’s Dok-1 Max cough syrup have prompted the Indian government to make significant reforms in the pharmaceutical sector.

In December 2022 the deaths of 18 children after taking Dok-1 Max were reported, but the cases didn’t receive much publicity — despite Marion Biotech then losing its license to sell that drug in March 2023. Sales of the syrup continued, and in August 2023 details emerged about 65 more child deaths from the same syrup. Local media reported that during the trial prosecutors said that officials had received a $33,000 bribe to not test the drug.

As a result, 21 managers and employees of Quramax Medikal LLC, the Pharmaceutical Industry Development Agency and the Indian State Center for Expertise and Standardization of Medicines, Medical Devices and Medical Equipment were put on trial.

The Indian Ministry of Health conducted inspections of all pharmaceutical plants in the country and, as it turned out, in addition to a lack of testing of incoming raw materials detected at 162 plants, less than 25% of the existing 8,500 small pharmaceutical plants meet the requirements of WHO international standards.

India has introduced new standards in 2024 to which every company operating in the pharmaceutical industry will have to adhere. According to Tafsilar news agency, the new decrees gave large factories no more than six months to bring everything in line with international standards, while smaller factories were given a year.

31 Jan 2024

Central Asia, Life & Culture, Kazakhstan Life & Culture, Kazakhstan

Model From Kazakhstan Receives Top Award From U.S. Social Media Firm

June 28, 2024
By Times of Central Asia

Kristina Menisova from Almaty has been named the Model of the Year at the U.S.’s National Social Media Awards, an event that honors the best online brands, influencers, models and artists.

The National Social Media Awards are held annually in major cities around the world, including Dubai, Los Angeles and London. Menisova took first place in the Best Model category.

The 29-year-old has already achieved success in the modeling business; for the last six years she has appeared at fashion shows for famous global brands. Her face has also graced the covers of magazines such as Vogue, Marie Claire and Elle. Kristina works with Chopard, Cartier, Michael Costello, Balmain, Roberto Cavalli and Yves Saint Laurent, among others.

The National Social Media Awards is her third major win; she has previously won the Model of the Year category for Glamour Bulgaria and FashionTV Russia’s Model of the Year 2023. In 2022 Kristina took home the title of Miss Universe World International.

31 Jan 2024

Central Asia, Uzbekistan, Uzbekistan Life & Culture

Central Asia’s Only Intercity Trolleybus System: Where Does It Run And How Does It Work?

June 28, 2024
By Times of Central Asia

The only intercity trolleybus route in all of Central Asia, the Urgench – Khiva – Urgench route (about 32km one-way), has been popular with commuters and local residents for 26 years. According to the Uzbek Statistics Agency, demand for the only trolleybus route between the two cities in Khorezm has only increased in recent years.

According to the drivers, tourists are all found the passengers, with an average of two to four on each trip. “Foreign guests like our green trolleybuses very much. They not only photograph [posing with] it in the background, but also film both inside the cabin and video along the way. Sometimes we are asked to pose in front of the camera lenses. We are also pleased that all the passengers are happy,” said Oybek Sobirov, one of the drivers.

The route is also popular with Urgench State University students. They account for a significant share of regular passengers. “The rector of Urgench State University shared with us that the university’s dormitories are not used by students from Khiva, as they travel to study from one city to another by trolleybus. They know that they have regular, safe and fast transportation almost [all the way] to their place of study,” said Ruslan Ruzmetov, head of the Road and River Transport Development Department at the Uzbek Ministry of Transport.

The infrastructure itself was built in 1997 and commissioned in 1998 to coincide with Khiva’s 2,500th anniversary. The total length of the line is almost 36km one-way. The main part of the route is practically in a straight line, and the average trip along it takes 60-70 minutes. At present, the fare is standard for Uzbekistan — 2,000 soums ($0.16) — but traveling on it outside the city is converted into a suburban fare — 4,000 soums ($0.32). On average, 1,700 to 2,000 people travel the route per day, which translates into about 700,000 passengers per year.

On average, eight trolleybuses depart daily, one remains in reserve, and five are currently non-operational. In total, there are 14 trolleybuses on the department’s balance sheet, with the oldest of them more than 25 years old. The line works from early morning until 19:00. Every day, according to the schedule, four trolleybuses depart from the two cities alternately, meaning four vehicles stay overnight in Khiva and Urgench every day.

31 Jan 2024

Central Asia, Kazakhstan Environment, Kazakhstan

Kazakhstan Tries To Ward Off Locust Invasion

June 28, 2024
By Times of Central Asia

Kazakhstan has allocated an additional $8.9m to protect the country’s crops and people from locust swarms. The money will be spent on chemical treatments to stop the short-horned grasshoppers from damaging pastures and destroying crops, as well as to prevent the swarms from migrating to neighboring countries, the government said on January 31st.

Kazakhstan has seen a drastic increase in the area of agricultural land hit by locusts, from 514,000 hectares in 2020 to 1.6 million hectares in 2023. The years 2023 and 2024 will be the peak of an 11-year locust cycle in the country; the government forecasts that 2.5 million hectares will be affected this year.

According to the UN’s Food and Agriculture Organization, locust outbreaks are a severe threat to agriculture in the South Caucasus and Central Asia, with more than 25 million hectares and 20 million people in the region vulnerable to damage done by the migratory pests. Locusts multiply, form groups, and migrate over relatively large distances — they can fly up to 100km per day, settle and breed in various habitats, and are highly adaptable to the impact of climate change.