Number of foreign companies in Kazakhstan increases 25 percent in the past year

ASTANA – The number of foreign businesses operating in Kazakhstan increased 25 percent in the last year to 3,400, according to finprom.kz. With the number of all businesses increasing 7 percent, the share of foreign companies increased from 5.9 percent to 6.9 percent over the last year. “According to analysts, the growth of foreign companies

AAA-rated star mines golden frontier opportunity

Commodity companies extracting natural resources in Mongolia can offer huge opportunities to frontier investors look for contrarian calls, according to Thomas Hugger. Citywire AAA-rated Hugger, who runs the AFC Asia Frontier (Non-US) fund, told Citywire Selector the country was his top anti-consensus play at present. ‘We think certain natural resources have bottomed out and are

Central Bank Policy Rate Down

Mongolia’s Central Bank cut its policy rate by 200bp to 12%, saying inflation had now stabilized around its target and uncertainty surrounding its economy had eased following the IMF support package. It is the first rate cut by the Bank of Mongolia (BOM) this year and the second after a 100bp cut last December. Mongolia’s

IMF’s Mongolia Deal Comes With Plan to Avoid Boom-Bust-Bailout

(Bloomberg) — The International Monetary Fund approved a loan package of $434 million to Mongolia on Thursday to support an economy recovering from weak commodity prices and low foreign investment. The IMF contributions are part of a $5.5 billion deal that includes money from the Asian Development Bank and the World Bank, with Japan and

Malaysia-Kazakhstan bilateral trade continues to grow

ASTANA: MALAYSIA looks forward to increase increasing trade with Kazakhstan, its second-largest trading partner in the Commonwealth of Independent States (CIS). region, the Republic of Kazakhstan. Newly-appointed Malaysian ambassador to Kazakhstan, Syed Mohamad Bakri Syed Abd Rahman, 48, said trade volume between Malaysia and Kazakhstan is relatively small but has been increasing every year. He

Iran signs €2.2bn rail deal with China’s CMC

Iran has finalised a €2.2bn deal with China National Machinery Import and Export Corporation (CMC) to electrify a 926-km railway from Tehran to the northeastern city of Mashhad, a deputy minister of roads and urban development said. Two-thirds of the contract are financed by the Chinese government with a very low interest rate, with the

Repositioning Myanmar through the Belt and Road Initiative

IN MAY, just months after United States President Donald Trump pulled his country out of the Trans-Pacific Partnership, his Chinese counterpart Xi Jinping invited dozens of world leaders to Beijing to showcase his ambitious Belt and Road initiative, which was first announced in 2013. The TPP was a cornerstone of former president Barack Obama’s Asia

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ICD and JSC “Hamkorbank” sign US$12m agreement

Tashkent, Uzbekistan (UzDaily.com) — The Islamic Corporation for the Development of the Private Sector, the private sector arm of IDB Group, will provide US$12 million of financial resources to JSC “Hamkorbank” to finance SMEs in Uzbekistan.The document was signed during IDB 42nd Annual Meeting which took place in Jeddah, Saudi Arabia. The collaboration will focus

The project “Silk Road Economic Belt” in the context of long-term economic interests of Uzbekistan

The project “Silk Road Economic Belt of the” – one of China’s initiatives, political and economic goals of which are concentrated on the creation of seven “zones”: transport, energy, investment, information, scientific and technical, agricultural and tourism. The need for the formation of economic belt of the Silk Road Chinese experts specify by the realities