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BISHKEK (TCA) — Despite the risks that remain due to low raw material prices and the condition of the global economy, the development of Eurasian Development Bank (EDB) countries (Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan) in the first six months of 2016 suggests they do adapt gradually to the shocks of several recent years. Negative trends in EDB economies that aggravated in 2015 because of falling raw material prices weakened to some extent, and the region's economies began to improve their macroeconomic indicators in the first six months of 2016, including leading indicators, the rates of exchange, inflation expectations, and stabilization in the financial markets, EDB said with reference to the findings made in The Macroeconomic Review prepared by the Chief Economist Group at EDB. Continue reading
ALMATY (TCA) — The Council of Businesswomen of the Chamber of Entrepreneurs of Almaty and Shinhan Bank Kazakhstan (subsidiary of Shinhan Bank of South Korea) have agreed on cooperation, the Atameken National Chamber of Entrepreneurs of Kazakhstan reported on July 11. Continue reading
ALMATY (TCA) — Kazakhstan’s international reserves, including gold and foreign currency reserves of the National Bank and National Fund assets, amounted to $96.2 billion at the end of June 2016, the press service of the National Bank said. Continue reading
BISHKEK (TCA) — The World Bank’s Board of Executive Directors has approved a US $24 million Programmatic Governance and Competitiveness Development Policy Operation (DPO) for the Kyrgyz Republic. The operation – the first in a series of two consecutive budget support operations – comprises a highly concessional credit of $13.2 million and a grant of $10.8 million from the International Development Association, the World Bank said. Continue reading
BISHKEK (TCA) — A five-day training course supported by the OSCE Centre in Bishkek on a risk-oriented approach in supervising activities related to anti-money laundering and combating the financing of terrorism concluded on July 8 in Bosteri village in Kyrgyzstan’s Issyk-Kul region. Continue reading
TASHKENT (TCA) — The Asian Development Bank (ADB) has approved a $100 million loan that will be extended to four financial institutions for on lending to small businesses—the backbone of Uzbekistan’s economy, the ADB Country Office said. Continue reading
