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The Regions This Week
May 3, 2019 www.intellinews.com I Page 7
Eurasia
Dozens of protesters were detained across Ka- zakhstan as several hundred people joined pro- tests calling for a boycott of the upcoming snap presidential election along with the release of all political prisoners. The protests hit the capital Nur-Sultan, the commercial capital Almaty, Kara- gandy, Aqtobe and Shymkent, though no arrests were reported in the latter two cities.
Tashkent plans to sell government stakes in Coca-Cola Bottlers Uzbekistan and 30 other companies. President Shavkat Mirziyoyev ap- proved a list of companies with state-owned shares that will be offered for sale to foreign investors as part of Tashkent’s plans to attract more FDI.
With 87 votes for and 33 against, Georgia’s parlia- ment endorsed controversial amendments to the Law on Common Courts. The ruling Georgian Dream party backed the passing of the legislation in what was its third and final hearing.
The EBRD invested over €1bn in 62 projects in the Central Asian region last year, the bank said in a statement. The EBRD is stepping up its in- vestment activity amid a “strong market demand for what the Bank can offer,” the bank said.
Iran is set to use Turkish internet connections
following an agreement between ministers, Mehr News Agency reported. Iran aims to boost its con- nectivity in the region and thwart attempts by the US to disconnect the country from internet access.
The Central Bank of Armenia CBA decided
to leave its refinancing rate unchanged at
5.75%. The last change to the rate was made on January 29, when the CBA cut the rate by 0.25 of a percentage point to the current rate of 5.75%.
A Kazakh court sentenced former Kyrgyz law- maker Damirbek Asylbek-Uulu to 10 years
in prison on smuggling charges. The court in Almaty convicted Asylbek-Uulu of planning the smuggling of goods and taking part in the opera-
tions of an organised criminal group. After Asylbek-Uulu was sentenced, the relatives of the defendants started a brawl in the courtroom.
The EBRD board of directors approved a new five-year strategy for Azerbaijan. The primary focus of the new strategy will be on diversifying the economy of Azerbaijan, which is heavily de- pendent on oil and gas, including by developing the renewables sector.
Mongolia’s foreign trade surplus stood at $485.9mn in the first quarter of 2019, up from the $351.9mn recorded in the same period of 2018, Montsame news agency reported. The sur- plus expanded thanks to growth of 19.5% y/y in exports to $1.77bn, driven by growing shipments of mineral products.
Tajikistan-based Avesto is to construct a $10mn plant to produce bottled drinking water and alco- holic beverages, Tajikistan’s State Committee on Investments and State Property Management said. Avesto group is a diversified company operating in industries such as manufacturing, trade and con- struction. It also provides commercial services.
Kazakhstan’s central bank issued freshly minted coins engraved with the country's new Latin- based alphabet in denominations of 1, 2, 5, 10, 20, 50 and 100 tenge. The design on the coins includes Kazakhstan’s state coat of arms with the word Qazaqstan on the reverse along with the text Qazaqstan Respyblikasy (Republic of Kazakhstan).
A possible joint venture between Russian automo- tive giant LADA and third largest Iranian carmaker Pars Khodro was cancelled, Asbe Bokhar auto- motive magazine wrote. Following last year’s US reimposition of sanctions against Iran and foreign companies who choose to stay in business with the country, investment-starved Iranian carmak- ers looked to tie up with firms that have no pres- ence on the American market and thus less risk of being caught out by Washington’s hardball policies.