Issue 1474 - 11.09.2024
11.09.2024

Investor allocates more than 1 billion som for reconstruction of Altyn-Kul resort, Kyrgyzstan

A public-private partnership (PPP) agreement was signed between Altyn-Kul state enterprise and R Group LLC on the project for the reconstruction and management of Altyn-Kul resort, the PPP Centre reported.

The project is aimed at improving conditions for vacationers and updating the resort’s infrastructure.

The implementation will take place in two stages: first, repairs will be carried out, the territory will be improved and the cottages will be reconstructed, and then a new building with a conference hall, restaurant and swimming pool will be built.

Investments in the project will exceed 1 billion som, and at least 50 percent of the staff will be residents of the Issyk-Kul region.

By Ilya Petchenko for 24.kg (Kyrgyzstan).

Kyrgyzstan General

11.09.2024

Average salary in Kyrgyzstan reaches 35.6 thousand som

The average monthly nominal salary of one employee, excluding small enterprises, in January-July 2024 amounted to 35 thousand 621 som, an increase of 11.1% compared to the same period in 2023.

At the same time, the real fee, taking into account the increase in consumer prices, increased by 5.8%.

According to the...

The average monthly nominal salary of one employee, excluding small enterprises, in January-July 2024 amounted to 35 thousand 621 som, an increase of 11.1% compared to the same period in 2023.

At the same time, the real fee, taking into account the increase in consumer prices, increased by 5.8%.

According to the...

11.09.2024

Kyrgyzstan-China Friendship Society opens in Bishkek

The grand opening of the Kyrgyzstan-China Friendship Society public association took place today in Bishkek.

The event was attended by First Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan Adylbek Kasymaliev and Ambassador of China to Kyrgyzstan Du Dewen.

Adylbek Kasymaliev noted in his speech that Kyrgyzstan and China are strategic...

The grand opening of the Kyrgyzstan-China Friendship Society public association took place today in Bishkek.

The event was attended by First Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan Adylbek Kasymaliev and Ambassador of China to Kyrgyzstan Du Dewen.

Adylbek Kasymaliev noted in his speech that Kyrgyzstan and China are strategic...

Finance and Investment

11.09.2024

Kyrgyzstan and China sign number of important memorandums of cooperation at Issyk-Kul 2024 International Economic Forum

Within the framework of the Issyk-Kul 2024 International Economic Forum, seven memorandums of cooperation between Kyrgyzstan and China were signed aimed at developing key sectors of the economy.

Thus, the sides signed a memorandum of cooperation between the office of the Plenipotentiary Representative of the President of Kyrgyzstan in the Chui...

Within the framework of the Issyk-Kul 2024 International Economic Forum, seven memorandums of cooperation between Kyrgyzstan and China were signed aimed at developing key sectors of the economy.

Thus, the sides signed a memorandum of cooperation between the office of the Plenipotentiary Representative of the President of Kyrgyzstan in the Chui...

11.09.2024

Kyrgyzstani defrauds Russian company of 10 million som

Law enforcement officers detained a 27-year-old man suspected of committing fraud on an especially large scale using a messaging app. The press service of the Main Department of Internal Affairs of Chui region reported.

A contract was drawn up on March 16, 2024 between M.T.S. LLC and MMK-LMZ LLC (located in...

Law enforcement officers detained a 27-year-old man suspected of committing fraud on an especially large scale using a messaging app. The press service of the Main Department of Internal Affairs of Chui region reported.

A contract was drawn up on March 16, 2024 between M.T.S. LLC and MMK-LMZ LLC (located in...

11.09.2024

Greenback reverses advance as stock markets hover

The dollar slightly declined on Tuesday ahead of critical U.S. inflation data and the upcoming televised presidential debate, which could significantly influence interest rate expectations. Traders are closely watching for Wednesday's U.S. consumer price index report.

Strategists at Barclays observed that the greenback generally weakens ahead of Federal Reserve easing cycles,...

The dollar slightly declined on Tuesday ahead of critical U.S. inflation data and the upcoming televised presidential debate, which could significantly influence interest rate expectations. Traders are closely watching for Wednesday's U.S. consumer price index report.

Strategists at Barclays observed that the greenback generally weakens ahead of Federal Reserve easing cycles,...

Metals and Minerals

11.09.2024

Natural Resources Ministry of Kyrgyzstan decides on size of recycling fee rates

The Ministry of Natural Resources of Kyrgyzstan has decided on the size of the recycling fee rates. The law on recycling fees has come into force in the republic.

The rates proposed by the relevant ministry have to be approved. For now, the draft resolution has been submitted for public discussion.

This...

The Ministry of Natural Resources of Kyrgyzstan has decided on the size of the recycling fee rates. The law on recycling fees has come into force in the republic.

The rates proposed by the relevant ministry have to be approved. For now, the draft resolution has been submitted for public discussion.

This...

11.09.2024

Bullion steady, silver up pending US inflation update

Gold prices were little changed on Tuesday as investors exercised caution ahead of a key U.S. inflation reading on Wednesday that could influence the Federal Reserve's policy decision next week.

Spot gold was steady at $2,506.59 per ounce by 1031 GMT. U.S. gold futures were little changed at $2,535.20.

The U.S. consumer...

Gold prices were little changed on Tuesday as investors exercised caution ahead of a key U.S. inflation reading on Wednesday that could influence the Federal Reserve's policy decision next week.

Spot gold was steady at $2,506.59 per ounce by 1031 GMT. U.S. gold futures were little changed at $2,535.20.

The U.S. consumer...

11.09.2024

Most non-ferrous base metals depreciate with demand in limbo

Copper prices retreated on Tuesday on persistent worries about the health of the Chinese economy and metals demand after fresh data.

Three-month copper on the London Metal Exchange (LME) eased by 0.4% to $9,063.50 a metric ton in official open-outcry trading, having gained 1.1% in the previous session.

Data on Tuesday added...

Copper prices retreated on Tuesday on persistent worries about the health of the Chinese economy and metals demand after fresh data.

Three-month copper on the London Metal Exchange (LME) eased by 0.4% to $9,063.50 a metric ton in official open-outcry trading, having gained 1.1% in the previous session.

Data on Tuesday added...

Energy Industry

11.09.2024

Kyrgyzstan presents its investment opportunities in energy sector

At the Issyk-Kul 2024 International Economic Forum, the discussion of key initiatives in the energy sector ended in the spotlight.

The forum participants, including representatives of a foreign country, discussed the prospects of unification and modern projects aimed at developing the energy infrastructure of Kyrgyzstan.

Deputy Minister of Energy Kursantbek Omurbekov noted...

At the Issyk-Kul 2024 International Economic Forum, the discussion of key initiatives in the energy sector ended in the spotlight.

The forum participants, including representatives of a foreign country, discussed the prospects of unification and modern projects aimed at developing the energy infrastructure of Kyrgyzstan.

Deputy Minister of Energy Kursantbek Omurbekov noted...

11.09.2024

World Bank allocates $13.6 million for Kambarata HPP 1 project

Ceremony of signing a loan and grant agreement on the additional financing for technical assistance to Kambarata HPP 1 project took place on September 9, 2024. The Ministry of Finance of Kyrgyzstan reported.

Funds in the amount of $13.6 million were provided by the International Development Association (World Bank), of which...

Ceremony of signing a loan and grant agreement on the additional financing for technical assistance to Kambarata HPP 1 project took place on September 9, 2024. The Ministry of Finance of Kyrgyzstan reported.

Funds in the amount of $13.6 million were provided by the International Development Association (World Bank), of which...

Agriculture

11.09.2024

Kyrgyzstan’s foreign trade turnover of agricultural products reaches $1.6 billion

On September 10, at the plenary session on the theme Agriculture of the VIII Issyk-Kul 2024International Economic Forum, Director of the Centre for Agribusiness Competitiveness Torogul Bekov spoke.

According to him, the volume of foreign trade turnover of Kyrgyzstan is $1 billion 614 million.

"Of this amount, $1 billion 170 million will...

On September 10, at the plenary session on the theme Agriculture of the VIII Issyk-Kul 2024International Economic Forum, Director of the Centre for Agribusiness Competitiveness Torogul Bekov spoke.

According to him, the volume of foreign trade turnover of Kyrgyzstan is $1 billion 614 million.

"Of this amount, $1 billion 170 million will...

11.09.2024

US wheat contract logs gains pending harvest update

Chicago soybean futures fell to a one-week low on Tuesday, with the benchmark contract Sv1 retreating back under $10 a bushel as better-than-expected U.S. crop ratings bolstered production prospects and eased worries about recent dry weather.

Corn futures declined in range-bound trade while wheat futures rose as market players squared positions...

Chicago soybean futures fell to a one-week low on Tuesday, with the benchmark contract Sv1 retreating back under $10 a bushel as better-than-expected U.S. crop ratings bolstered production prospects and eased worries about recent dry weather.

Corn futures declined in range-bound trade while wheat futures rose as market players squared positions...

Oil and Gas Sector

11.09.2024

Brent slips midrange within $70-$75/b margin

Oil prices edged down on Tuesday as weak Chinese demand offset supply disruptions from Tropical Storm Francine and as global oil oversupply risks continued to weigh on the market.

Brent crude futures were down 4 cents, or 0.06%, to $72.80 a barrel by 0334 GMT. U.S. West Texas Intermediate crude futures...

Oil prices edged down on Tuesday as weak Chinese demand offset supply disruptions from Tropical Storm Francine and as global oil oversupply risks continued to weigh on the market.

Brent crude futures were down 4 cents, or 0.06%, to $72.80 a barrel by 0334 GMT. U.S. West Texas Intermediate crude futures...

Communications and Transportation

11.09.2024

Bishkek-Moscow train starts running from December 18

Bishkek-Moscow train will start running from December 18, Kyrgyz Temir Zholu state enterprise reported.

From September 3 to September 6, specialists of the state enterprise participated in a meeting of authorised representatives of the railway administrations of the CIS countries on the development of the schedule of international passenger trains for...

Bishkek-Moscow train will start running from December 18, Kyrgyz Temir Zholu state enterprise reported.

From September 3 to September 6, specialists of the state enterprise participated in a meeting of authorised representatives of the railway administrations of the CIS countries on the development of the schedule of international passenger trains for...

11.09.2024

Chinese company intends to invest up to $1 billion in infrastructure projects in Kyrgyzstan

The Chinese company Nanjing Huajin Bureau Asset Management Co., Ltd., LTD intends to invest $1 billion in infrastructure projects in Kyrgyzstan. This was announced during the Issyk-Kul 2024 International Economic Forum by Kurmanbek Dyikanbayev, Director of the company's office in Kyrgyzstan.

We are talking about hydropower, the construction of railways and...

The Chinese company Nanjing Huajin Bureau Asset Management Co., Ltd., LTD intends to invest $1 billion in infrastructure projects in Kyrgyzstan. This was announced during the Issyk-Kul 2024 International Economic Forum by Kurmanbek Dyikanbayev, Director of the company's office in Kyrgyzstan.

We are talking about hydropower, the construction of railways and...

Regional News

11.09.2024

Russian market consolidates

The Russian stock market on Tuesday, September 10, was moderately correcting after significant growth in previous sessions. So far, the important mark of 2,700 points has not stood, but there are no active sales, as investors hope that the meeting of the Central Bank of Russia can become a trigger...

The Russian stock market on Tuesday, September 10, was moderately correcting after significant growth in previous sessions. So far, the important mark of 2,700 points has not stood, but there are no active sales, as investors hope that the meeting of the Central Bank of Russia can become a trigger...

11.09.2024

Russian digital asset market grows fivefold

The new market of financial instruments digital will grow at least fivefold in Russia in the coming years and reach a trillion rouble. The secret of CFA's popularity is that modern technologies allow you to raise money faster and cheaper than traditional tools. Experts told Rossiyskaya Gazeta at the forum...

The new market of financial instruments digital will grow at least fivefold in Russia in the coming years and reach a trillion rouble. The secret of CFA's popularity is that modern technologies allow you to raise money faster and cheaper than traditional tools. Experts told Rossiyskaya Gazeta at the forum...

11.09.2024

Russia’s gold reserves approach historic landmark

Russia’s holdings of gold have reached a new high of $188.8 billion and bullion’s share in the country’s international reserves now exceeds 30% for the first time in almost a quarter century, according to the central bank.

The Bank of Russia reported on Friday that the value of monetary gold in...

Russia’s holdings of gold have reached a new high of $188.8 billion and bullion’s share in the country’s international reserves now exceeds 30% for the first time in almost a quarter century, according to the central bank.

The Bank of Russia reported on Friday that the value of monetary gold in...

11.09.2024

China’s yuan dips on firmer dollar

China’s yuan eased slightly against the firmer dollar on Tuesday, but losses were capped by better-than-expected export data.

China’s exports - one of the few bright spots in the sputtering economy - beat forecasts in August, expanding by 8.7% year-on-year by value, the strongest pace in 17 months, customs data showed...

China’s yuan eased slightly against the firmer dollar on Tuesday, but losses were capped by better-than-expected export data.

China’s exports - one of the few bright spots in the sputtering economy - beat forecasts in August, expanding by 8.7% year-on-year by value, the strongest pace in 17 months, customs data showed...