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Monthly Archives: August 2014

Hong Kong cash haven for Russian telecom over sanctions

Russian mobile network MegaFon has decided to place 40 percent of its cash in Hong Kong dollars to diversify and de-dollarize. The move is also a preventative move to protect against Western-led sanctions. Dollar-based assets are a risk for the company, Chief Financial Officer Gevork Vermishyan toldBloomberg News in a phone …

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Kazakhstan produces 5,650 tons of uranium

Kazakhstan produced 5,650 tons of uranium in the second quarter of 2014. This figure corresponds to the planned indicators, Kazakhstan’s national operator Kazatomprom Joint Stock Company reported. Kazakhstan produced 5,590 tons of uranium in the second quarter of 2013. The volume of uranium production of Kazatomprom amounted to 3,278 tons …

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Kazakhstan to harvest 17 mln tons of grain in 2014

Kazakhstan is expected to harvest about 17 million tons of grains in 2014. The news was announced by Chairman of the Committee of State Inspections in the Agricultural Sector of Kazakh Agriculture Ministry Saktash Khasenov on July 29. ” Based on early estimations of the total harvests of sown areas, …

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ARTGENI 2014 HELD AT ETHNOGRAPHIC MUSEUM WITH HEALTHY WATER SUPPORT

Artgeni 2014 Festival traditionally took start at the Ethnographic Museum in Tbilisi on July 20. One of the supporters of the festival is Company Healthy Water (Tskali Margebeli). The festival guests had the opportunity to taste Margebeli Products as well as Nabeghlavi and Bakhmaro, unique waters of Healthy Water Company. …

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NATAKHTARI BEER FESTIVAL ENDED WITH FIREWORKS IN TELAVI

Telavi hosted the Beer Festival at its main square for the second time on July 26-27. The first Georgian analogue of festivals held in various countries of America and Europe was organized traditionally by Company Natakhtari. The festival in Telavi this year was too crowded. Local residents decided to spend …

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WILL VTB BANK CARDS WORK ABROAD?

The USA Sets Sanctions against VTB and SberBank As it  is known, the U.S. and EU announced sanctions against several Russian state banks, among them “VTB Bank”, which has a branch in Georgia. Whether sanctions will have an impact on the Georgian representation? At this stage, the representatives of “VTB-Georgia” …

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Azerbaijan’s oil funds turning into Chinese Yuan

Azerbaijan’s state oil fund SOFAZ which is in charge of accumulating and managing the country’s oil and gas revenues have taken some measures to include Yuan in its currency portfolio. SOFAZ Deputy Executive Director Israfil Mammadov said the fund has appealed to the People’s Bank of China to obtain quotes …

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AZAL to carry out regular direct flights to Bishkek

Azerbaijan Airlines (AZAL), the biggest Azerbaijani airline and national flag carrier, will perform regular direct flights to Kyrgyzstan’s capital starting from October 26. The news was announced by AZAL on July 22. The direct flights en route Baku-Bishkek-Baku will be implemented on Tuesdays and Sundays. On Tuesdays, the plane will …

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Around 3 bln manats invested in Azerbaijan’s oil sector

Some 2.96 billion manats was invested in Azerbaijan’s oil sector in the first half of 2014. This figure is 31.4 percent more compared to the same period of 2013, Azerbaijan’s State Statistics Committee said. Over 4.82 billion manats were invested in the country’s oil sector in 2013, which is 24.2 …

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