Page 7 - bne_newspaper_August_18_2017

The Regions This Week
August 18, 2017 www.intellinews.com I Page 7
Eurasia
Iran’s President Rouhani warned Iran could quit the 2015 nuclear deal with world powers “within hours” if the Trump administration keeps tighten- ing its unilateral sanctions screw. If Tehran aban- doned it, the Iranians would return to the previous nuclear development programme. It would be at a more advanced stage than when the deal led to its withdrawal, Rouhani pointed out.
Azerbaijan's customs committee failed to regis- ter $24.8bn worth of imports between 2010 and 2015, resulting in $5bn worth of state budget tax losses, a Meydan TV investigation revealed. Trade data reported by the committee and by UN trade agency Comtrade was compared.
The Kazakh central bank said it might recapital- ise local banks by injecting an extra $1.8bn-3bn via bond purchasing to help lenders write off bad loans. Problem loans in 2016 amounted to 37% of total loans, Moody's Investors Service said.
Iran's Ghadir Investment, Russia's Zarubezhneft and Turkey's Unit International have linked up to invest $7bn in drilling for oil and gas in three fields including Azadegan and part of South Pars.
Iran will use incentives to try to get some 700,000 clunkers off its roads in the current Per- sian year (started March 21). During the nuclear sanctions years, vehicle sales collapsed and the average car age in Iran is now around 10-years- old. Some 240,000 vehicles were sent to scrapy- ards in the previous calendar year.
Iran’s Persian rug exports moved up 7.3% y/y
across the first four months of the Persian calen- dar year. The export value was $89mn. Production of the rugs was directly targeted by US sanctions during 2011-15. The US used to account for to- wards a fifth of exports. Sales to American buyers are being rebuilt.
The Chief of Staff of the Iranian Armed Forces visited Turkey for the first time since 1979. General Mohammad Baqeri met Turkish President Recep Tayyip Erdogan and Defence Minister Nurettin Canikli. Both countries are concerned about Kurdish efforts to set up an independent state.
Beijing Construction Engineering Group is to build a $250mn DIY hypermarket in east Tehran in a deal with Iran’s Civil Servants Pension Organ- isation. Iran’s retail environment is underdevel- oped, especially in the DIY sector. The traditional bazaar remains the destination for people looking for construction materials and paint.
Iran is in negotiations with Airbus to buy 45 emergency medical service helicopters. Three search-and-rescue helicopters might also be acquired.
London-listed Kazakh copper giant KAZ Min- erals narrowed its 2017 output guidance to 235,000-260,000 tonnes from 225,000-260,000 tonnes thanks to the commissioning and expan- sion of new production. Its H1 operating profit was $291mn against $68mn a year ago. EBITDA grew to $429m, from $115m.
Kazakhstan started work on a regulatory appa- ratus for cryptocurrency controls. Astana In- ternational Financial Center (AIFC), working with Deloitte, Waves, Ukrainian law firm Justcutum and Kesarev Consulting hope to create a "highly progressive framework" for blockchain and cryp- tocurrency companies.
Israeli agro-consortium Polevoi Group is to invest up to $1bn in Kazakhstan's agro-industry. The top Kazakh agricultural export item is grain. The consortium will mostly provide financing for Israeli machinery and equipment.