Traditions of the Kyrgyz people were being formed with the help of economic, trade, domestic and other relations with kindred and other tribes that were closely related to the geography of their ha...

After the coup of 19 March 1953 in the socio-political history of Iran there were fundamental changes: the powers of parliament were limited and the absolute power of Mohammad Reza Shah Pahlavi was...

In the Middle East, Saudi Arabia and the Islamic Republic of Iran are two countries that claim to leadership in the region. With a powerful resources and political potential these countries are the...

Business & Economics

22.02.2017

On February 20, Minister of Investment and Development of Kazakhstan Jenis Kasymbek named digitalization of the republic's industries as one of the Ministry's main tasks for the current and subsequent years. “Industry 4.0” provides both new challenges and additional opportunities for Kazakhstan. We will be able to reduce the impact of the negative factors, such as the shortage of highly qualified labor force, the long distances and the absence of access to sea trade routes, and the small domestic market.

22.02.2017

On February 20, the National Bank of Kazakhstan published the report dedicated to the implementation of the department's strategic plan in 2016. One of the main issues was the deterioration of financial stability of the banking system. This document also focuses on the measures taken in order to achieve sustainability of the Kazakh banks: namely, inspections, the introduction of new rules, etc. In addition, there was noted the introduction of high risks on unsecured consumer loans.

 

21.02.2017

Over the next five years, Uzbekistan plans to increase the volume of coal mining by 3.1 times. This year, the country will produce about 3.92 million tons of coal; in 2019, the figure should reach the level of 4.78 million tons; in 2021, it will increase to 11.67 million tons. Worth recalling, 3.87 million tons of coal were produced in the country in 2016.

 

21.02.2017

The State Committee of Uzbekistan on Geology and Mineral Resources must work more on the involvement of foreign investment in the sphere of exploration and development of deposits of strategically important solid minerals. This follows from the draft decree of President Shavkat Mirziyoev, which was submitted for the public debate on the Single portal of online public services. The work to attract foreign investment in the development and exploration of solid minerals has been conducted in the country since 2009.

19.02.2017

In 2016, Kazakhstan's trade turnover with the members of the Eurasian Economic Union decreased by 16.8 percent as compared to the 2015 results. This information was reported by the press service of the Ministry of National Economy of the Republic. “In January-December 2016, the volume of mutual trade between Kazakhstan and the EEU countries amounted to $13.58 billion, which is 16.8 percent less than the results of January-December 2015,” the press release reads.

 

19.02.2017

In 2016, the State Tax Service of Kyrgyzstan implemented the plan for tax collection only for 93.6 percent, having transferred to the state budget KGS67.81 billion, which is KGS4.6 billion less than predicted earlier. Deputy Chairman of the Service Kubanichbek Kumash made this statement while delivering a speech at the meeting of the departmental board. According to him, this shortfall was caused mainly by the fact that some legislative acts were amended in 2016.

19.02.2017

In 2016, the volume of bilateral trade turnover between Uzbekistan and the United Kingdom amounted to $151.3 million, which is 43 percent more than in 2015. According to the report of the British Embassy in Tashkent, Uzbekistan's exports to the United Kingdom consists mostly of iron and cotton. As for the British supplies to Uzbekistan, the main imports are different types of machinery and equipment, services, pharmaceuticals, chemicals and consumer products.

 

19.02.2017

In summer 2018, Kazakhstan will begin to export gasoline instead of importing it from Russia. Minister of Energy of the Republic Kanat Bozumbayev made this statement on February 16. “We will be able to export gasoline, because we will proceed from the current deficit of the 92th gasoline to its surplus. Thus, according to our forecasts, by mid-2018, we will become completely self-sufficient in all the essential oil products, for the first time since independence,” he said.

 

19.02.2017

Established in 2006, the consortium “Aral Sea Operating Company” (which included LUKOIL and CNPC with shares at 33.3 percent each, and “Uzbekneftegaz” with a share of 33.4 percent) has announced on its official website that the joint venture dealing with development of the Uzbek part of the Aral sea will be disestablished. In accordance with the PSA (Production Sharing Agreement), Uzbekistan received at least half of all extracted raw materials at the initial stage.

 

18.02.2017

As of today, Kazakhstan has one toll highway: Astana – Shchuchinsk. Since 2013, the tariff for passenger cars has been KZT1.00 per kilometer, while the length of the section is 217 kilometers. This value will be taken as the base when planning the tariffs for the new toll roads in the country, as reported by Deputy Minister of Investment and Development Roman Sklyar on February 16. “We do not plan to raise the payment above this norm on the new road sections,” he stressed during the recent government briefing.