Issue 1443 - 25.07.2024
25.07.2024

Exports of goods from Kyrgyzstan to China in H1 2024 reaches $100 million

The export of goods from Kyrgyzstan to China in the first half of 2024 amounted to $100 million, according to the data of the General Customs Administration of China.

The volume of exports amounted to $105.2 million.

The main share in exports is occupied by supplies to China of gold ($53.7 million), ores and concentrates of precious metals ($24.4 million) and cotton ($5.4 million).

Deliveries increased 4.1 times compared to the first half of 2023.

Reported by Tazabek (Kyrgyzstan).

Kyrgyzstan General

25.07.2024

Chairman of Kyrgyzstan's Cabinet receives Director General of Qatar Charity branch in Bishkek

Chairman of the Cabinet of Ministers Head of the Presidential Administration Akylbek Zhaparov received Abdekarim Alimam Albasheir Mohamed, Director General of the Bishkek branch of the Qatar Charity Foundation.

During the meeting, the issues of further development and intensification of cooperation on humanitarian, social, medical projects, projects to provide clean water...

Chairman of the Cabinet of Ministers Head of the Presidential Administration Akylbek Zhaparov received Abdekarim Alimam Albasheir Mohamed, Director General of the Bishkek branch of the Qatar Charity Foundation.

During the meeting, the issues of further development and intensification of cooperation on humanitarian, social, medical projects, projects to provide clean water...

25.07.2024

State Tax Service of Kyrgyzstan exceeds plan by more than 5 billion som

According to the results of the first half of 2024, the State Tax Service collected 138.6 billion som of taxes and insurance premiums, exceeding the established plan by more than 5 billion som.

Compared to the same period last year, tax receipts and payments increased by 22.4 billion som, or the...

According to the results of the first half of 2024, the State Tax Service collected 138.6 billion som of taxes and insurance premiums, exceeding the established plan by more than 5 billion som.

Compared to the same period last year, tax receipts and payments increased by 22.4 billion som, or the...

Finance and Investment

25.07.2024

FDI inflows in Kyrgyzstan increase by 17.2% and amount to $200.3 million in January-March

The inflow of foreign direct investment in January-March 2024 increased by 17.2% compared to the same period in 2023 and amounted to 200.3 million US dollar. This is stated in the materials of the National Statistical Committee.

At the same time, the inflow exceeded the outflow level by $100.1 million.

In the...

The inflow of foreign direct investment in January-March 2024 increased by 17.2% compared to the same period in 2023 and amounted to 200.3 million US dollar. This is stated in the materials of the National Statistical Committee.

At the same time, the inflow exceeded the outflow level by $100.1 million.

In the...

25.07.2024

Turkiye and Kyrgyzstan continue to work in field of e-commerce

The Trade Representative of Kyrgyzstan in Turkiye, Chyngyz Toktobekov, held a meeting with the Director General of the General Directorate of the Turkish Postal and Telegraph Organisation (PTT), Hakan Cevikoglu, to discuss further cooperation in the field of e-commerce and logistics.

During the meeting, Toktobekov proposed to organise a regular meeting...

The Trade Representative of Kyrgyzstan in Turkiye, Chyngyz Toktobekov, held a meeting with the Director General of the General Directorate of the Turkish Postal and Telegraph Organisation (PTT), Hakan Cevikoglu, to discuss further cooperation in the field of e-commerce and logistics.

During the meeting, Toktobekov proposed to organise a regular meeting...

25.07.2024

Kyrgyz entrepreneurs issue electronic invoices for almost 950 billion som

In the six months of this year, business entities issued more than 9.3 million electronic invoices (e-invoices) for a total turnover of 947.6 billion som. This became known during a press conference dedicated to the results of the work of the State Tax Service.

Since the beginning of the implementation of...

In the six months of this year, business entities issued more than 9.3 million electronic invoices (e-invoices) for a total turnover of 947.6 billion som. This became known during a press conference dedicated to the results of the work of the State Tax Service.

Since the beginning of the implementation of...

25.07.2024

Retreating greenback drags stock markets along

The dollar sank to a two-month low against the yen on Wednesday. This decline comes as investors unwound short-yen carry trades ahead of the Bank of Japan's forthcoming meeting, anticipating a hawkish move towards removing monetary stimulus. The yen hit its highest level against the euro since mid-May.

The dollar index,...

The dollar sank to a two-month low against the yen on Wednesday. This decline comes as investors unwound short-yen carry trades ahead of the Bank of Japan's forthcoming meeting, anticipating a hawkish move towards removing monetary stimulus. The yen hit its highest level against the euro since mid-May.

The dollar index,...

Metals and Minerals

25.07.2024

Ounce of gold at National Bank of Kyrgyzstan falls by 319 som

As of July 24, the cost of an ounce of gold of the National Bank weighing 31.1035 grams was set at 208 thousand 425 som. The information was posted on the regulator's website.

On July 23, its price was 208 thousand 105.5 som. Thus, an ounce fell in price by 319.5...

As of July 24, the cost of an ounce of gold of the National Bank weighing 31.1035 grams was set at 208 thousand 425 som. The information was posted on the regulator's website.

On July 23, its price was 208 thousand 105.5 som. Thus, an ounce fell in price by 319.5...

25.07.2024

Bullion and peers rebound with US monetary course in limbo

Gold prices inched up on Wednesday, as market participants assessed the timing and number of U.S. interest rate cuts and awaited U.S. economic data for further clarity on monetary policy.

Spot gold was up 0.2% at $2,413.63 per ounce, as of 1013 GMT. U.S. gold futures gained 0.3% to $2,414.40.

"The medium...

Gold prices inched up on Wednesday, as market participants assessed the timing and number of U.S. interest rate cuts and awaited U.S. economic data for further clarity on monetary policy.

Spot gold was up 0.2% at $2,413.63 per ounce, as of 1013 GMT. U.S. gold futures gained 0.3% to $2,414.40.

"The medium...

25.07.2024

Lead, copper, nickel lose more ground as other base metals appreciate

Copper prices slipped to their lowest in three-and-a-half months on Wednesday, hurt by rising inventory and selling by commodity trading funds.

Three-month copper on the London Metal Exchange (LME) was up 0.1% at $9,176.5 per metric ton as at 1023 GMT, after dipping to $9,105 per metric ton to its lowest...

Copper prices slipped to their lowest in three-and-a-half months on Wednesday, hurt by rising inventory and selling by commodity trading funds.

Three-month copper on the London Metal Exchange (LME) was up 0.1% at $9,176.5 per metric ton as at 1023 GMT, after dipping to $9,105 per metric ton to its lowest...

Energy Industry

25.07.2024

Kyrgyzstan ready to provide investors with land for construction of hydroelectric power plants

Kyrgyzstan is ready to provide investors with land for the construction of gas stations. This was announced on July 24, 2024, by Nurlan Sadykov, General Director of Chakan HPP, on the air of Birinchi Radio.

According to him, Kyrgyzstan has suitable sites for the construction of hydroelectric power plants, and they...

Kyrgyzstan is ready to provide investors with land for the construction of gas stations. This was announced on July 24, 2024, by Nurlan Sadykov, General Director of Chakan HPP, on the air of Birinchi Radio.

According to him, Kyrgyzstan has suitable sites for the construction of hydroelectric power plants, and they...

Agriculture

25.07.2024

Economist reports on need to develop meat processing industry of Kyrgyzstan

Against the background of the active expansion of economic ties between Kyrgyzstan and Uzbekistan, significant prospects for the export of various goods are being considered, economist Nurgul Akimova said on July 24, 2024, during a video bridge

According to him, the Kyrgyz side expressed interest in joint projects with Uzbek partners...

Against the background of the active expansion of economic ties between Kyrgyzstan and Uzbekistan, significant prospects for the export of various goods are being considered, economist Nurgul Akimova said on July 24, 2024, during a video bridge

According to him, the Kyrgyz side expressed interest in joint projects with Uzbek partners...

25.07.2024

Kyrgyzstan funds 3.9 thousand farmers to improve dairy sector

The additional financing project "Integrated productivity improvement of the dairy sector" provided a revolving fund in the amount of 9.6 million rouble. After the official approval of the World Bank, starting from April 13, 2023, contracts were concluded and payments were made to farmers. This is reported by the press...

The additional financing project "Integrated productivity improvement of the dairy sector" provided a revolving fund in the amount of 9.6 million rouble. After the official approval of the World Bank, starting from April 13, 2023, contracts were concluded and payments were made to farmers. This is reported by the press...

25.07.2024

Drought concerns drive US wheat benchmark up

Chicago wheat and corn gained strength on Wednesday as the market monitored a hot, dry spell forecast in parts of North America, but gains were capped by sizeable global supplies.

The most-active wheat contract on the Chicago Board of Trade (CBOT) ended up 4-1/4 cents at $5.47 per bushel.

CBOT corn rose...

Chicago wheat and corn gained strength on Wednesday as the market monitored a hot, dry spell forecast in parts of North America, but gains were capped by sizeable global supplies.

The most-active wheat contract on the Chicago Board of Trade (CBOT) ended up 4-1/4 cents at $5.47 per bushel.

CBOT corn rose...

Manufacturing industry

25.07.2024

Average cost of construction of 1 sq. m in Kyrgyzstan in January-June reaches 22.5 thousand som

The average actual cost of construction of one square metre of the total area of individual residential buildings in the republic (according to estimates) in January-July 2024 amounted to 22.5 thousand som. This is stated in the materials of the National Statistical Committee.

Of these, in cities 29.5 thousand som, in...

The average actual cost of construction of one square metre of the total area of individual residential buildings in the republic (according to estimates) in January-July 2024 amounted to 22.5 thousand som. This is stated in the materials of the National Statistical Committee.

Of these, in cities 29.5 thousand som, in...

Oil and Gas Sector

25.07.2024

Kyrgyzstan builds 250-300 kilometres of gas pipelines every year

Every year in Kyrgyzstan, 250-300 kilometres of gas pipelines are built. This was reported by Arzymat Aldayarov, Deputy General Director for Economics and Finance of Gazprom Kyrgyzstan, at a briefing.

Aldayarov stated that during the company's activity, over 1,250 kilometres of distribution gas pipelines have been built as part of the...

Every year in Kyrgyzstan, 250-300 kilometres of gas pipelines are built. This was reported by Arzymat Aldayarov, Deputy General Director for Economics and Finance of Gazprom Kyrgyzstan, at a briefing.

Aldayarov stated that during the company's activity, over 1,250 kilometres of distribution gas pipelines have been built as part of the...

25.07.2024

Brent veers up within $80-$85 margin

Oil prices rebounded on Wednesday, snapping three straight sessions of decline, as falling U.S. crude inventories and growing supply risks from wildfires in Canada boosted prices.

Brent crude futures for September rose 40 cents, or 0.5%, to $81.41 a barrel by 0650 GMT. U.S. West Texas Intermediate crude for September also...

Oil prices rebounded on Wednesday, snapping three straight sessions of decline, as falling U.S. crude inventories and growing supply risks from wildfires in Canada boosted prices.

Brent crude futures for September rose 40 cents, or 0.5%, to $81.41 a barrel by 0650 GMT. U.S. West Texas Intermediate crude for September also...

Communications and Transportation

25.07.2024

Expert discusses results of construction of China-Kyrgyzstan-Uzbekistan railway

During the video bridge, several member countries of the expert group discussed significant results from the upcoming construction of the railway connecting China-Kyrgyzstan-Uzbekistan

According to economist Nurgul Akimova, the railway offers Kyrgyz entrepreneurs new opportunities to export goods to China

"Within the framework of the One Belt- One Road square, various projects...

During the video bridge, several member countries of the expert group discussed significant results from the upcoming construction of the railway connecting China-Kyrgyzstan-Uzbekistan

According to economist Nurgul Akimova, the railway offers Kyrgyz entrepreneurs new opportunities to export goods to China

"Within the framework of the One Belt- One Road square, various projects...

Regional News

25.07.2024

Russian market turns around but buyers stay cautious

The Russian stock market opened in the red on Wednesday, but soon turned around. The reason was the statements of the Head of the Ministry of Foreign Affairs of Ukraine Dmitry Kuleba about the readiness of negotiations with Russia. By 14.30 Moscow time, the Moscow Stock Exchange index was growing...

The Russian stock market opened in the red on Wednesday, but soon turned around. The reason was the statements of the Head of the Ministry of Foreign Affairs of Ukraine Dmitry Kuleba about the readiness of negotiations with Russia. By 14.30 Moscow time, the Moscow Stock Exchange index was growing...

25.07.2024

Debt crisis scenario in Russia becomes more predictable

The growth of corporate lending in Russia, which is still ongoing, is causing more and more concern among experts. Loans are issued and refinanced at exorbitant rates and the ceiling for rates has not been reached. As a result, the thesis about the likelihood of a debt crisis ceases to...

The growth of corporate lending in Russia, which is still ongoing, is causing more and more concern among experts. Loans are issued and refinanced at exorbitant rates and the ceiling for rates has not been reached. As a result, the thesis about the likelihood of a debt crisis ceases to...

25.07.2024

Russian container market grows by 9.8% in H1 2024

In the 1st half of the year, the Russian container market increased by 9.8% compared to the same period last year to 3.309 million TEU, according to the FESCO transport group.

According to the group's analysts, imports increased by 6%, to 1,415 million TEU, exports by 10%, to 907 thousand TEU,...

In the 1st half of the year, the Russian container market increased by 9.8% compared to the same period last year to 3.309 million TEU, according to the FESCO transport group.

According to the group's analysts, imports increased by 6%, to 1,415 million TEU, exports by 10%, to 907 thousand TEU,...

25.07.2024

Yuan hits bottom on weak commodities

China's yuan slipped to its lowest point in more than eight months on Wednesday as commodities-linked currencies broadly lost further ground on a bleak outlook for Chinese demand.   

Funding conditions remained tight offshore, however, making it costly for investors to short the yuan and limiting yuan losses, market participants said.     

As of...

China's yuan slipped to its lowest point in more than eight months on Wednesday as commodities-linked currencies broadly lost further ground on a bleak outlook for Chinese demand.   

Funding conditions remained tight offshore, however, making it costly for investors to short the yuan and limiting yuan losses, market participants said.     

As of...

25.07.2024

Discouraging data subdue China stock markets

Chinese stocks declined on Wednesday, with the Shanghai Composite Index hitting its lowest level in over five months, as investors turned to risk-off mode amid weak economic data and U.S. election risks.

The Shanghai Composite Index slipped below the key 2,900 level briefly, but it was slightly above 2,900 points at...

Chinese stocks declined on Wednesday, with the Shanghai Composite Index hitting its lowest level in over five months, as investors turned to risk-off mode amid weak economic data and U.S. election risks.

The Shanghai Composite Index slipped below the key 2,900 level briefly, but it was slightly above 2,900 points at...