Issue 955 - 24.09.2021
24.09.2021

The Foreign Minister of Kyrgyzstan meets with U.S. Assistant Secretary of State

The Foreign Minister of Kyrgyzstan Ruslan Kazakbaev met with the Assistant Secretary of State Donald Lu and the Special Assistant to the President and Senior Director for Russia and Central Asia of the National Security Council Eric Green in New York.

The results of the ministerial meeting in C5 + 1 format, as well as other topical issues of bilateral relations and the regional agenda were discussed.

The American side announced its readiness to additionally provide Kyrgyzstan with vaccines against COVID-19, as well as to continue cooperation in various areas, including further strengthening of democratic institutions.

An agreement was reached to maintain close contact to jointly work out mutually beneficial projects, especially in the trade and economic sphere.

By 24.kg

Kyrgyzstan General

24.09.2021

Digitalisation in Kyrgyzstan accompanied by attempts to introduce large fines

Artur Tashibekov, executive director of the Association of Markets, Trade and Service Enterprises, today, on September 23, at a round table in Bishkek, said that excesses in digitalisation will affect the cost of goods.

The round table was devoted to the draft development strategy of Kyrgyzstan until 2026, presented by the...

Artur Tashibekov, executive director of the Association of Markets, Trade and Service Enterprises, today, on September 23, at a round table in Bishkek, said that excesses in digitalisation will affect the cost of goods.

The round table was devoted to the draft development strategy of Kyrgyzstan until 2026, presented by the...

Finance and Investment

24.09.2021

Mutual direct investments in EAEU quickly recover

In the 1st quarter of 2021, the net inflow of mutual direct investments in the EAEU amounted to USD663.2 million and increased by USD708.6 million compared to the previous quarter. The dynamics of mutual investment flows is shown in the graph.

The predominant instruments of mutual direct investment were investments in...

In the 1st quarter of 2021, the net inflow of mutual direct investments in the EAEU amounted to USD663.2 million and increased by USD708.6 million compared to the previous quarter. The dynamics of mutual investment flows is shown in the graph.

The predominant instruments of mutual direct investment were investments in...

24.09.2021

Inflation in Kyrgyzstan reaches 10% in 2021

The inflation rate in Kyrgyzstan in 2021 will reach 10%. This is stated in the report of the Asian Development Bank.

According to ADB materials, the Kyrgyz economy will recover in the second half of 2021 as mining, trade and other services return to pre-pandemic levels. It should be borne in...

The inflation rate in Kyrgyzstan in 2021 will reach 10%. This is stated in the report of the Asian Development Bank.

According to ADB materials, the Kyrgyz economy will recover in the second half of 2021 as mining, trade and other services return to pre-pandemic levels. It should be borne in...

24.09.2021

Russian-Kyrgyz Development Fund ready to help business of Kyrgyzstan in purchasing European equipment

The Russian-Kyrgyz Development Fund is ready to cooperate with Swiss exporters to enable domestic entrepreneurs to purchase high-tech European equipment on more favourable terms. This became known at the meeting of the head of the foundation Artyom Novikov with the Swiss Ambassador to Kyrgyzstan Olivier Bangerter.

As noted in the fund,...

The Russian-Kyrgyz Development Fund is ready to cooperate with Swiss exporters to enable domestic entrepreneurs to purchase high-tech European equipment on more favourable terms. This became known at the meeting of the head of the foundation Artyom Novikov with the Swiss Ambassador to Kyrgyzstan Olivier Bangerter.

As noted in the fund,...

24.09.2021

Asian Development Bank allocates $80 million to Kyrgyzstan to improve production efficiency

A program was approved to support efforts aimed at diversifying the Kyrgyz economy in the amount of $80 million, reads the website of the Asian Development Bank.

ADB says $80 million is being earmarked to make the country's economy more resilient to global challenges such as the Covid-19 pandemic, and to...

A program was approved to support efforts aimed at diversifying the Kyrgyz economy in the amount of $80 million, reads the website of the Asian Development Bank.

ADB says $80 million is being earmarked to make the country's economy more resilient to global challenges such as the Covid-19 pandemic, and to...

24.09.2021

Kyrgyz Ministry of Economy and Finance expects inflow of remittances from Russia to grow by 5.5-6% in 2022

Due to the gradual recovery of the Russian economy, there is an increase in the gross inflow of remittances from individuals to Kyrgyzstan by 18.6% (January-March 2021). This is stated in the Medium-term forecast of socio-economic development of Kyrgyzstan for 2022-2024, published by the Ministry of Economy and Finance.

According to...

Due to the gradual recovery of the Russian economy, there is an increase in the gross inflow of remittances from individuals to Kyrgyzstan by 18.6% (January-March 2021). This is stated in the Medium-term forecast of socio-economic development of Kyrgyzstan for 2022-2024, published by the Ministry of Economy and Finance.

According to...

24.09.2021

Greenback continues to drop as paper markets pick up

The dollar fell across the board on Thursday as improved risk sentiment in global financial markets erased all the gains it notched in the previous session after the U.S. Federal Reserve flagged plans to reel in stimulus this year.

Investors' risk appetite improved after Beijing injected fresh cash into its financial system...

The dollar fell across the board on Thursday as improved risk sentiment in global financial markets erased all the gains it notched in the previous session after the U.S. Federal Reserve flagged plans to reel in stimulus this year.

Investors' risk appetite improved after Beijing injected fresh cash into its financial system...

24.09.2021

Equity markets back in full swing

European stocks pushed ahead at the opening again on Thursday despite a survey showing a marked slowdown in Eurozone business growth during September.

The pan-European STOXX 600 index gained 0.85% after Asian stocks rose on the back of a 30% spike in Evergrande shares in Hong Kong as worries over the property developer's...

European stocks pushed ahead at the opening again on Thursday despite a survey showing a marked slowdown in Eurozone business growth during September.

The pan-European STOXX 600 index gained 0.85% after Asian stocks rose on the back of a 30% spike in Evergrande shares in Hong Kong as worries over the property developer's...

Metals and Minerals

24.09.2021

Kyrgyzstan produces minerals for 16.9 billion som over 8 months

In January-August 2021, industrial products were produced in the amount of 205 billion 999.6 million som. This is stated in the materials of the National Statistical Committee.

In August 2021, industrial production was produced in the amount of 30 billion 366.9 million som, the physical volume index by August 2020 amounted...

In January-August 2021, industrial products were produced in the amount of 205 billion 999.6 million som. This is stated in the materials of the National Statistical Committee.

In August 2021, industrial production was produced in the amount of 30 billion 366.9 million som, the physical volume index by August 2020 amounted...

24.09.2021

Kumtor Gold Company responds to statements regarding sale of gold, work of Tengiz Bolturuk and mine

Recently, in the media, individual politicians, deputies and experts have been discussing the topic of the activities of Kumtor Gold Company in social networks, KGC reports.

The information is contradictory and sometimes aggressive, despite the fact that the press service of the company provides text and video information about Kumtor's activities...

Recently, in the media, individual politicians, deputies and experts have been discussing the topic of the activities of Kumtor Gold Company in social networks, KGC reports.

The information is contradictory and sometimes aggressive, despite the fact that the press service of the company provides text and video information about Kumtor's activities...

24.09.2021

Bullion draws strength from sliding gringo dollar

Gold firmed on Thursday as the dollar gave up some gains that were driven by the U.S. central bank signalling faster-than-expected interest rate hikes, but receding fears over the Evergrande crisis limited interest for safe-haven bullion.

Spot gold was 0.3% higher at $1,772.62 per ounce by 1213 GMT, while U.S. gold...

Gold firmed on Thursday as the dollar gave up some gains that were driven by the U.S. central bank signalling faster-than-expected interest rate hikes, but receding fears over the Evergrande crisis limited interest for safe-haven bullion.

Spot gold was 0.3% higher at $1,772.62 per ounce by 1213 GMT, while U.S. gold...

24.09.2021

Copper down, nickel flat as other non-ferrous base metals appreciate

Tin prices moved towards record highs on Thursday as a shortage of inventories in the London Metal Exchange (LME) warehouse system pushed up premiums for quickly deliverable material.

Industrial metals broadly were boosted by optimism that China, the biggest market, can avoid a damaging collapse of one of its biggest property...

Tin prices moved towards record highs on Thursday as a shortage of inventories in the London Metal Exchange (LME) warehouse system pushed up premiums for quickly deliverable material.

Industrial metals broadly were boosted by optimism that China, the biggest market, can avoid a damaging collapse of one of its biggest property...

Energy Industry

24.09.2021

National Electric Grid of Kyrgyzstan modernises 4 high-voltage substations in Jalal-Abad region

Power engineers of the Jalal-Abad enterprise of high-voltage electrical grids a branch of the National Electric Grid of Kyrgyzstan are completing the modernisation of 4 large high-voltage substations that provide power supply to the Jalal-Abad region. This was reported by the press service of NEDK.

Thus, in the course of modernisation...

Power engineers of the Jalal-Abad enterprise of high-voltage electrical grids a branch of the National Electric Grid of Kyrgyzstan are completing the modernisation of 4 large high-voltage substations that provide power supply to the Jalal-Abad region. This was reported by the press service of NEDK.

Thus, in the course of modernisation...

Trade and Consumer Goods

24.09.2021

EU imports to Kyrgyzstan in 2021 amount to $162.9 million

In January July 2021, EU imports to Kyrgyzstan amounted to 162.9 million US dollar. Compared to the same period last year, the increase was 28.6%, the EEC reports.

The largest part of imports is occupied by Germany at $32.9 million, followed by France at $25.1 million, Lithuania at $16.8 million and...

In January July 2021, EU imports to Kyrgyzstan amounted to 162.9 million US dollar. Compared to the same period last year, the increase was 28.6%, the EEC reports.

The largest part of imports is occupied by Germany at $32.9 million, followed by France at $25.1 million, Lithuania at $16.8 million and...

Agriculture

24.09.2021

Number of cattle in Kyrgyzstan increases by 15% in 2015-2020

During the period 2015-2020, the number of cattle increased by 15% and amounted to 1 million 715.7 thousand heads. This is stated in the draft Concept of Agrarian Development of Kyrgyzstan for 2021-2025, developed by the Ministry of Agriculture, Water Resources and Regional Development.

Including the number of cows increased by...

During the period 2015-2020, the number of cattle increased by 15% and amounted to 1 million 715.7 thousand heads. This is stated in the draft Concept of Agrarian Development of Kyrgyzstan for 2021-2025, developed by the Ministry of Agriculture, Water Resources and Regional Development.

Including the number of cows increased by...

24.09.2021

US wheat futures up despite absence of supply concerns

Chicago corn futures slid on Thursday, giving up some of the previous session's gains, as expectations of ample supplies from freshly harvested U.S. crop and reports of a possible reduction in U.S. biofuel requirements put pressure to prices.

Soybeans edged higher, while wheat rose for a second session. "But overall the...

Chicago corn futures slid on Thursday, giving up some of the previous session's gains, as expectations of ample supplies from freshly harvested U.S. crop and reports of a possible reduction in U.S. biofuel requirements put pressure to prices.

Soybeans edged higher, while wheat rose for a second session. "But overall the...

Manufacturing industry

24.09.2021

Volume of production of manufacturing industries in Kyrgyzstan in January-August amounts to 160.7 billion som

The volume of production of manufacturing industries in January-August 2021 amounted to 160 billion 656.7 million som. This is stated in the materials of the National Statistical Committee.

Of it, basic metals and finished metal products, except for machinery and equipment, accounted for 104 billion 915.6 million som (50.9% of their...

The volume of production of manufacturing industries in January-August 2021 amounted to 160 billion 656.7 million som. This is stated in the materials of the National Statistical Committee.

Of it, basic metals and finished metal products, except for machinery and equipment, accounted for 104 billion 915.6 million som (50.9% of their...

Oil and Gas Sector

24.09.2021

Heads of Gazprom, Shell discuss situation on European gas market

Chairman of the Gazprom Management Committee Alexey Miller and Chief Executive Officer of Royal Dutch Shell Ben van Beurden have discussed the situation on the European gas market, as well as the operation of the Sakhalin 2 project, the Russian gas producer said in a statement on Wednesday.

"The parties reviewed...

Chairman of the Gazprom Management Committee Alexey Miller and Chief Executive Officer of Royal Dutch Shell Ben van Beurden have discussed the situation on the European gas market, as well as the operation of the Sakhalin 2 project, the Russian gas producer said in a statement on Wednesday.

"The parties reviewed...

24.09.2021

Brent retains $76+/b level

Oil prices rose on Thursday, extending strong gains overnight with fuel demand growing and crude stocks declining as production remains hampered in the U.S. Gulf of Mexico after two hurricanes.

The market was also supported by a broader switch back into risk assets as concerns eased over a potential default by...

Oil prices rose on Thursday, extending strong gains overnight with fuel demand growing and crude stocks declining as production remains hampered in the U.S. Gulf of Mexico after two hurricanes.

The market was also supported by a broader switch back into risk assets as concerns eased over a potential default by...

24.09.2021

Norway supply glut drives North Sea region’s natural gas prices down

British and European wholesale gas prices fell on Thursday morning as stronger flows from Norway after the end of several maintenances.

The British day-ahead contract was down 7.00 pence at 167.00 p/therm by 0932 GMT.

Its Dutch counterpart on the TTF hub was down 1.95 euro at 68.15 euro per megawatt hour...

British and European wholesale gas prices fell on Thursday morning as stronger flows from Norway after the end of several maintenances.

The British day-ahead contract was down 7.00 pence at 167.00 p/therm by 0932 GMT.

Its Dutch counterpart on the TTF hub was down 1.95 euro at 68.15 euro per megawatt hour...

Regional News

24.09.2021

Capital without room for error in Russia demanded

Professional participants in the securities market do not agree to spend extra funds on capital replenishment. They believe that the directive of the Central Bank, which comes into force on October 1, contains an error in the calculation of the sufficiency ratio. Lawyers recommend challenging the instruction in court, since...

Professional participants in the securities market do not agree to spend extra funds on capital replenishment. They believe that the directive of the Central Bank, which comes into force on October 1, contains an error in the calculation of the sufficiency ratio. Lawyers recommend challenging the instruction in court, since...

24.09.2021

Bank of Russia’s Chief urges reducing inflation expectations as soon as possible

The authorities should reduce inflation and inflationary expectations in Russia as soon as possible, head of the Bank of Russia Elvira Nabiullina said speaking at the Federation Council, the upper chamber of parliament.

"When people expect inflation to rise, they start spending more, save less, fearing that money will depreciate, make...

The authorities should reduce inflation and inflationary expectations in Russia as soon as possible, head of the Bank of Russia Elvira Nabiullina said speaking at the Federation Council, the upper chamber of parliament.

"When people expect inflation to rise, they start spending more, save less, fearing that money will depreciate, make...

24.09.2021

Russian equity, rouble appreciate further

The Russian rouble firmed versus the dollar on Thursday, helped by oil prices rising to a more than two-month high, and paring losses from a dip late on in the previous session after the U.S. Federal Reserve left its policy settings unchanged.

At 0751 GMT, the rouble was 0.4% stronger against...

The Russian rouble firmed versus the dollar on Thursday, helped by oil prices rising to a more than two-month high, and paring losses from a dip late on in the previous session after the U.S. Federal Reserve left its policy settings unchanged.

At 0751 GMT, the rouble was 0.4% stronger against...

24.09.2021

China's GDP forecast to hover above 8%

China is expected to see 8.1 percent economic growth this year, as solid export performance and increased fiscal support in the second half will offset a more protracted recovery in household consumption, said economists at the Asian Development Bank.

The forecast made by the Manila-based development bank on Wednesday was unchanged...

China is expected to see 8.1 percent economic growth this year, as solid export performance and increased fiscal support in the second half will offset a more protracted recovery in household consumption, said economists at the Asian Development Bank.

The forecast made by the Manila-based development bank on Wednesday was unchanged...

Prices and Statistics

24.09.2021

Commodities

Date: September 24, 2021; Source: Bloomberg.com

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Date: September 24, 2021; Source: Bloomberg.com

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