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The Regions This Week
December 7, 2018 www.intellinews.com I Page 12
Eurasia
Nordic telecoms operator Telia sold its direct holding in Uzbekistan's Ucell to the Uzbek gov- ernment for $215mn on a debt free basis, as part of its strategy to exit its Eurasian businesses. Telia is streamlining its operations to focus on growing its core Nordic business. The company announced it was pulling out of Central Asia following an international investigation.
Kazakhstan could annually export up to 100,000 tonnes of barley to China as it recently received Beijing’s approval to become a supplier, Deputy Agriculture Minister Arman Yevniyev reportedly said. The approval came in November after China launched an anti-dumping probe into barley im- ports from Australia, its top grain supplier, amid strained ties between the two nations.
A ban on exports of tomato paste from Iran was lifted, according to Iran Labour News Agency. In mid-October, the Iranian government banned to- mato exports and extended the ban to tomato paste products following panic buying of toma- to paste, a staple ingredient used in many local dishes.
Mongolia’s prime minister, Ukhnaa Khurelsukh, and his cabinet survived a parliamentary at- tempt to sack them over allegations that senior government officials and parliamentarians chan- nelled over $1mn in government money to their families and friends. Mongolia’s anti-corruption authority is investigating the allegations.
Exxon Mobil and Chevron are looking to sell their stakes in Azerbaijan’s largest oilfield, marking the retreat of the US majors from the former Soviet state after 25 years as they re-focus on domestic production, Reuters reported. Exxon is hoping to raise up to $2bn from the sale of its 6.8% in the Azeri-Chirag-Gunashli (ACG) field in the Caspian Sea, according to cited industry sources.
Georgia’s opposition plans to challenge the va- lidity of the recent presidential election in court. The united opposition will ask a court to declare that the results of the presidential election runoff are null and void. The defeated candidate, Grigol Vashadze, is also demanding that early parlia- mentary elections are called.
The former head of Kyrgyzstan's Customs Ser- vice, Adamkul Junusov, was detained at Baku's Heydar Aliyev International Airport upon a request from the Kyrgyz authorities, RFE/RL reported. The police unit previously charged Junusov for “cor- rupt” activities as head of the Customs Service during 2013-2016.
The ADB's updated 2019-2021 Country Opera- tions Business Plan (COBP) for Tajikistan is set to allocate up to $300mn in grants over the three years, the bank said. The funds are to support pri- vate sector development, road and energy devel- opment, food security, education and healthcare improvement and municipal infrastructure.
The IMF issued a broadly positive report on Armenia’s financial system stability, noting the financial system has been stable and that finan- cial soundness indicators currently show signs
of improvement. All of Armenia’s banks meet the 12% minimum capital requirement, and bank profitability has gradually recovered, although it is still below pre-crisis levels.
Uzbekistan’s flag carrier Uzbekistan Airways will be split into two separate companies, Uz- bekistan Airways and Uzbekistan Airports, accord- ing to a decree signed by Uzbek President Shavkat Mirziyoyev. As the title of the two companies sug- gests, Uzbekistan Airports will exclusively manage the Central Asian nation’s airports.