On this page we inform our readers about the latest economic news on Central Asia.

20 May Russia: “No Plans” to Close Kyrgyz Airbase

Russian planes in the the airbase of the town of Kant

VORONEZH (RIA Novosti) – No decision has been made to withdraw the Russian airbase from the town of Kant, Kyrgyzstan, an aide to the Russian defence minister said on Thursday.>>

Category: Kyrgyzstan

20 May OSCE Supports co-Operation of Border and Customs Officers from Tajikistan and Kyrgyzstan

OSCE workshop

DUSHANBE (Press release) – A three-day OSCE workshop on the detection and identification of forged documents for Border Troops and Customs Services from Kyrgyzstan and Tajikistan concluded in Dushanbe today. >>

Category: Tajikistan, Kyrgyzstan

19 May ArcelorMittal’s Workers in Kazakhstan Demand Salary Hike

ALMATY (Associated Press) – Workers at a Kazakhstan plant owned by steel giant ArcelorMittal have held a demonstration to demand higher salaries.>>

Category: Kazakhstan

19 May S. Korean Venture Inks $2.5 Bn Uzbek Gas Deal

Uz-Kor Gas Chemical logo

TASHKENT (AFP) – A South Korean joint venture in Uzbekistan said Saturday it had secured a $2.5 billion credit line to build a new chemical and gas production unit by 2016.>>

Category: Uzbekistan

18 May S&P Rates Uzbekistan-Based Turkiston Bank

Turkiston Bank logo

On May 17, 2012, Standard & Poor’s Ratings Services assigned its ‘B-’ long-term and ‘C’ short-term counterparty credit ratings to Turkiston Bank. The outlook is stable.>>

Category: Uzbekistan

18 May India Authorizes to Sign TAPI Gas Sales and Purchase Pact

NEW DELHI (RTTNews) – The Indian Cabinet allowed state-run gas-firm GAIL (India) Ltd to sign the Gas Sale and Purchase Agreement or GSPA with TürkmenGaz, Turkmenistan’s national oil company, for the $7.6 billion TAPI Gas pipeline project. Next week,...>>

Category: Turkmenistan, Afghanistan

17 May CASA-1000: Afghanistan Assures Security of the Electricity Transport

Map of the CASA-1000 route

DUBAI (Daily Times, Zeeshan Javaid) – Under the head of Central Asia, South Asia (CASA-1000) electricity trade, Afghanistan has assured complete security for the project of electricity transmission of 1,000 megawatts (MW) of surplus electricity from...>>

Category: Afghanistan, Kyrgyzstan, Tajikistan

17 May TAPI Price Deal Seems to Be Closed

KABUL – Meshrano Jirga, or upper house of parliament of Afghanistan, approved the agreement on a gas pipeline running from Turkmenistan through Afghanistan to Pakistan and India.>>

Category: Afghanistan

17 May Kazakhstan Launches Contest for National Superhero

Central Downtown Astana panorama.

ASTANA (RIA Novosti) – Kazakhstan has announced a contest to create an image of a national superhero who will be named after the Central Asian country’s capital, Astana, the capital’s web site reported on Wednesday.>>

Category: Kazakhstan

17 May Exhibition of Leather, Footwear, Apparel and Accessories Opened at Uzkurgazmasavdo

Inside of Uzkurgazmasavdo 2012

TASHKENT (UzA, Sayyora Shoyeva) – The second International exhibition of leather, footwear, apparel and accessories opened at Uzkurgazmasavdo complex. About 100 companies from nearly 10 countries are representing their products at the exhibition...>>

Category: Uzbekistan

17 May 20 Years on, CSTO Focuses on Threats to Central Asia

(RIA Novosti, Konstantin Bogdanov) – With its membership now stable, the Collective Security Treaty Organization has shifted its focus to resolving conflicts and dealing with terrorist threats in the post-Soviet space, predominantly in Central Asia.>>

Category: Central Asia

17 May Tethys Petroleum Limited: New Oil Field Acquired

TASHKENT (Press release)– Tethys Petroleum today announced Chegara Production Limited (CPL), its 100% owned subsidiary, has signed a Production Enhancement Contract (PEC) for a new oil field, the Chegara Group of Fields, in Uzbekistan. In addition...>>

Category: Uzbekistan

16 May Tajik Airlines to Start Flights to Pakistan

Tajik Air Boeing 757-200

KARACHI (Pakistan Daily Times) – Major breakthrough in bilateral trade relations between Pakistan and Tajikistan is in the offing as Tajik Airlines is starting its flight operation from Dushanbe to Islamabad from next month. This was stated by...>>

Category: Tajikistan

11 May Tajik Aluminium Output Falls 11.6%

TALCO facilities

DUSHANBE (Reuters) – Tajikistan Aluminium Company, or TALCO, produced 97,863 tonnes of the metal in January-April 2012, or 11.6% less than in the same four months last year, a source close to the company's management told Reuters on Friday.>>

Category: Tajikistan

10 May BTA Says Court Approves Debt Deal

ALMATY (Reuters) – A court in Kazakhstan has approved a draft debt restructuring plan filed by troubled bank BTA and granted legal protection for its successful completion, the bank said on Thursday.>>

Category: Kazakhstan

09 May Ratification of Production Sharing Agreement in Tajikistan

Workers and oil rig

BAAR, Switzerland (Press release) – Manas Petroleum Corp. announced today that on May 7, 2012 the Production Sharing Agreement (PSA) between the Government of the Republic of Tajikistan and Joint Closed Stock Company Somon Oil, a 90% subsidiary of...>>

Category: Tajikistan

09 May Uzbekistan to Get ¥202 Million in Aid from Japan

(Kyodo) – Japan will provide ¥202 million in grant aid to Uzbekistan over three years from this April to help the Central Asian republic develop human resources, the Foreign Ministry said Monday.>>

Category: Uzbekistan

08 May IMF Approves $20.2 Million Disbursement for Tajikistan

WASHINGTON (IMF press release) – The Executive Board of the International Monetary Fund (IMF) has completed its sixth review of Tajikistan’s economic performance under a program supported by the Extended Credit Facility (ECF) arrangement. The...>>

Category: Tajikistan

06 May Kazakhmys’ Miners Go on Strike for Higher Wages

A truck inside Annensky mine

ALMATY (Reuters) – Copper miners in Kazakhstan went on strike on Saturday, staying inside a mine owned by Kazakhmys to demand higher wages from their employer in a move likely to unnerve authorities in the Central Asian state just months after...>>

Category: Kazakhstan

05 May Turkmenistan TV Equips State-of-the-Art TV Tower With Complement of Wohler Monitoring Gear

TV broadcast tower at Ashgabad

Wohler Technologies today announced that the state-of-the-art broadcast facility, newly opened in Ashgabad, is being equipped with a range of Wohler audio and video monitoring, switching, and processing systems. Provided by Wohler dealer Radikal...>>

Category: Turkmenistan

05 May Russia, Kazakhstan Sign Helicopter Repair Deal

Photo of a Kamow Ka-32A-12

MOSCOW (RIA Novosti) – Russia and Kazakhstan signed an agreement on Saturday to provide after-sale services and repair of Russian helicopters in the Central Asian country.>>

Category: Kazakhstan

05 May S&P Rates Uzbek Ipoteka Bank B+/B

Image of a Ipoteka Bank credit card

In the Satndanrd & Poor’s opinion, Uzbekistan-based JSCM Ipoteka Bank has an adequate business position, adequate capital and earnings, a moderate risk position, average funding, and adequate liquidity.>>

Category: Uzbekistan

05 May Tajikistan Tries New Methods to Curb Islamism

Photo of a car blown off during the suicide bombing of Khujand Police station in September 2010

KHUJAND (Central Asia Online, Negmatullo Mirsaidov) – Eighteen months after a major terror attack, Tajikistan has taken steps to fight extremism through programmes that aim to keep youth out of the hands of radicals. But the task is challenging, as...>>

Category: Tajikistan

04 May Xtract Energy Exits Kyrgyzstan Joint Venture

(Press release) – Xtract Energy (LON:XTR) announced it has pulled out of its joint venture in Kyrgyzstan, which will allow previously committed funds to be diverted to other investment opportunities. The company held 25% of Zhibek Resources, which...>>

Category: Kyrgyzstan

03 May Russian MTS Returning to Turkmenistan

MOSCOW (The Associated Press) – Cellular operator Mobile TeleSystems says it is returning to the isolated Central Asian nation of Turkmenistan almost 1½ years after its operations in the country were suspended.>>

Category: Turkmenistan

02 May Japan, Kazakhstan Agree to Expand Joint Rare Earth Development Project

Photo of a set of rare earths

ASTANA (Kyodo) – Japan and Kazakhstan agreed Tuesday to expand their countries’ joint rare earth development project and promote their cooperation in radioactive decontamination. The agreement came at talks between Japanese industry minister Yukio...>>

Category: Kazakhstan

01 May Afghan Foreign Minister in India to Boost Strategic Partnership

Suicide bombing outside Indian Embassy in Kabul

NEW DEHLI (Hindustan Times) – India and Afghanistan are looking to revamp their intelligence sharing system after the recent multiple strikes by Taliban in Kabul and other parts of Afghanistan, Indian media reported on Monday.>>

Category: Afghanistan

01 May Gazprom to Acquire 75% of KyrgyzGaz

KygyzGaz logo

MOSCOW (Kommersant) – Russian Gazprom has a plan to acquire 75% of the KyrgyzGaz, a company that controls all transportation and distribution of natural gas in Kyrgyzstan, in August 2012. Kyrgyz leaders hope to import Russian gas and to have Gazprom...>>

Category: Kyrgyzstan

30 Apr Bangladesh-Uzbek Officials to Discuss Cotton Trade

Photo of cooton stock in Uzbekistan

DHAKA (Fibre2fashion) – A team of Bangladesh Government officials and businessmen, led by Commerce Secretary Md. Ghulam Hussain, will visit Uzbekistan next month to discuss import of cotton from the CIS country.>>

Category: Uzbekistan

28 Apr Bishkek to Host Discovery Central Asia Travel Forum 2012

Discovery Forum logo

Central Asian government agencies, tourism operators, hotel and catering sector representatives, and education institutions and experts from North America, Europe, South Asia, and whole Central Asia are gathering at the Discovery Central Asia Travel...>>

Category: Central Asia