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Banking / Investment in Asia

  • Uzbekistan to sell major enterprises’ state shares to foreign investors

    UZBEKISTAN, 2015/05/09 Uzbekistan plans to sell the national share and the share of the economic board in 68 large enterprises of the country to the strategic foreign investors. This is envisaged by the President of Uzbekistan Islam Karimov’s decree "On measures of increasing the share and the price of private property in the economy", published in the local media. The country’s ministries and departments have critically analyzed the availability of the national shares and assets in the statutory funds of the enterprises. The proposals for the cardinal reduction of the national's share in the sectors and areas of the real economy have been worked out, the document says.

  • Eurasian Bank for Reconstruction and Development may issue bonds in manats

    AZERBAIJAN, 2015/05/09 The Eurasian Bank for Reconstruction and Development may issue bonds in manats by late 2015, EBRD President Suma Chakrabarti said at a press conference in Baku on May 8. This is the second visit of Chakrabarti to Azerbaijan in this position, which, as he said, shows the significance of Azerbaijan for the Bank. During his visit, Chakrabarti met with Azerbaijan’s President Ilham Aliyev. The chief of EBRD went on to add that if bonds are issued, EBRD will become the initial international organization to issue bonds in manats.

  • HBL profit surges 63% to record high

    PAKISTAN, 2015/05/04 The Habib Bank Limited (HBL) on Saturday said it has delivered a record post-tax profit of Rs 10 billion during initial quarter 2015, representing a increase of 63% over the same period last year. As a result, earnings per share for the quarter increased to Rs6.73 as against Rs 4.12 for the initial quarter of 2014. Along with the results, the Board declared a quarterly dividend of Rs 3.50 per share.

  • ADB was established in 1966 with 67 member nations, 48 of which come from the Asia Pacific region.

    ASIA, 2015/05/03 The Asian Development Bank (ADB) and the China-led Asian Infrastructure Investment Bank (AIIB) have agreed to join forces in financing Asia Pacific infrastructure development. Last Friday, ADB president Takehiko Nakao and AIIB’s Liqun Jin discussed next collaborations, inclunding co-financing the region’s infrastructure development to support sustainable development and poverty reduction. As well discussed were joint efforts to safeguard policies on environment inclunding social impacts of these efforts. “ADB will cooperate and co-finance with AIIB on infrastructure financing across Asia by using our long experience and expertise in the region,” Nakao said in a statement.

  • President Aliyev receives ADP head

    AZERBAIJAN, 2015/05/01 Azerbaijani President Ilham Aliyev received a delegation led by President of the Asian Development Bank Takehiko Nakao on April 30, AzerTac national news agency. The parties stressed the importance of successful cooperation between Azerbaijan and international financial institutions, inclunding the ADB. They emphasized that Azerbaijan is place hosting high-profile international events. The sides as well underlined the importance of holding the Annual Conference of the Board of Governors of the Asian Development Bank in Baku, and high level preparations for the event were hailed during the conference.

  • ADB meeting in Baku to mull ways of creating new ‘Asian tigers’

    ASIA, 2015/05/01 Asian leaders will gather from May 2 - 5 in Baku, Azerbaijan – on the banks of the Caspian Sea for the 48th annual Asian Development Bank (ADB) meetings. The meetings will take place against the backdrop of gloom over China’s slowdown, but as well optimism about a resurgent India and the prospects for increase in new frontiers like Myanmar. On the initial day of the event, the International Development Research Centre (IDRC) and the JustJobs Network will bring together government, business and civil society officials attending the ADB meetings for a seminar on how manufacturing can create jobs and drive economic increase.

  • Lending to agrarian sector in focus of kazakh banks

    KAZAKHSTAN, 2015/04/25 Kazakhstan’s agrarian sector has become the majority dynamic one on the country’s credit market thanks to the national support. As of February 2015, the portfolio of bank loans to the agrarian sector amounted to 480 billion tenge with the 12.2-% increase during the year or 52.3 billion tenge (185.8 tenge = $1), , Ranking.kz analytical service reported. The gross profit of Kazakhstan’s medium and large agrarian companies exceeded 20 billion tenge, increasing by 66 % in 2014 compared to the same period of 2013. The profitability of the sphere was 8.2 % in 2014. The availability of loans for Kazakhstan’s agricultural enterprises in 2014 was the highest one for the last five years, the statement said. The average yearly fee rate on the long-term loans in this area stood in Jan.-Dec. 2014 at 10.4 %.

  • ADB to increase assistance to Tajikistan

    TAJIKISTAN , 2015/01/16 The Asian Development Bank will increase its assistance to Tajikistan by around $20 million in 2015, raising its full year planned assistance program to $79 million, ADB said on January 15. “Based on the recent country performance assessment, ADB will increase its annual allocation to Tajikistan by around $20 million,” C.C. Yu, ADB’s Country Director for Tajikistan said. “The final all may still change subject to further discussions with the government and funding availability.” The 2015 assistance will be used to support development of the private sector, railways and water resources, and to help strengthening the investment climate.

  • EBRD supports municipalities in Tajikistan

    TAJIKISTAN , 2014/12/31 The European Bank for Reconstruction and Development continues supporting municipalities in Tajikistan to improve people’s living conditions. The bank will lend $2 million, and the EBRD’s Shareholder Appropriate Fund is providing an equal grant of $2 million to the municipality-owned enterprise Khojagii Manziliyu Kommunali under a sovereign guarantee. Technical cooperation for the project’s feasibility study was provided by the EBRD’s Early Transition Nations Fund for $355,000. The government of Austria will finance project implementation support for $600,000.

  • Investment in Georgia ups, Azerbaijan among top three investors

    GEORGIA, 2014/12/17 Georgia’s Foreign Direct Investments picked up the pace in the third quarter of 2014, according to the country's national statistics office Geostat. The service revealed that the in general all of the foreign investments in Georgia grew by 99 % in the third quarter of 2014 compared to the same period in 2013. The preliminary figures released by the service on December 9 revealed Georgia’s FDI to stand at $508 million during the reported period. The fields of economy and industry that gained the majority offshore investments are construction, transport and communication, manufacturing, finance, energy, hotels and restaurants.
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