Uzbekistan successfully completed its first international IPO on the London Stock Exchange. The National Investment Fund, which holds stakes in 13 different infrastructure companies, sold a 30% stake for $604m.
>> The shares rose, slightly, immediately after the IPO.
Our latest frontpage. All the news from Central Asia and the South Caucasus from the past week in eight pages. For a free trial etc, DM.
>> The Bulletin: "Independence, integrity, brevity"
BAKU -- A court in Azerbaijan has sentenced Russian-Armenian leader Ruben Vardanyan to 20 years in prison. >> He was the most high profile of the Armenian leaders captured in Nagorno-Karabakh in 2023. The sentence will likely enflame already-strained Russia-Azerbaijan relations.
BISHKEK -- Kyrgyz Pres. Sadyr Japrov sacks Kamchybek Tashiyev, the powerful head of the GKNB security services. >> This is an unexpected move. The two men had formed an all-powerful duopoly at the top of the Kyrgyz power system since a coup in 2020.
BISHKEK -- Kyrgyz Pres. Japarov wants to reinstate the death penalty for the rape and murder of women and children. He made the announcement after the body of a 17yo woman was found in a park in a village in north Kyrgyzstan.
Kazakhstan and the US secure $4.2b railway deal, reportedly one of the biggest in history. >> This shows the West can make moves in Russia/China-dominated ex-Soviet Central Asia through business and industry.
Latest Bulletin frontpage:
(Issue 601 of the Central Asia/South Caucasus 8-page weekly includes stories on Kyrgyzstan renaming a city as Manas; US cash to develop the 'Trump Route' in Armenia; Kazakh plans to develop the Baikonur Cosmodrome as a tourist site and much more...)
Pashinyan, Armenia's PM, has said he wants to take Armenia out of the Kremlin-led Eurasian Economic Union and to join the EU. This humiliation for the Kremlin came a week after a Russian deputy PM was in Yerevan for talks with Pashinyan. >> Expect a Kremlin backlash
Iran accuses Russia of helping Israel in 12-day war; South Africa says the Kremlin has been luring women to Russia to produce drones
https://t.co/zh3tCjhRzI
Kazakhstan's GDP/capita has overtaken Russia's for the first time, according to the IMF.
>> Kazakhstan's GDP/capita is rising. Russia's isn't. A sign of the times.
Azerbaijani Pres. Aliyev and Armenian PM Pashinyan meet in Dubai in push for lasting peace deal. A land corridor to Nakchivan (an Azerbaijani exclave) from mainland Azerbaijan is top of the agenda.
Charterhouse, the British independent school, will open a campus in Almaty. Haileybury opened one in Almaty in 2008. >> Kazakhstan has become a favourite destination for British schools and unis looking to earn extra cash. Cardiff uni also has plans to open a Kazakhstan campus.
Plenty on Russia's relations with Azerbaijan, Armenia and Kyrgyzstan in today's Memo, plus news of Israel-Russia meetings on Iran.
https://t.co/lxo0azBkM3
The row between Russia and Azerbaijan is worsening. Azerbaijan has now arrested 8 Russians and accused them of drug running and cybercrimes. Russia has arrested two more high profile Azerbaijani businessmen.
Azerbaijan has arrested two journalists from the Kremlin-funded Sputnik news agency for spying >> Relations between Russia and Azerbaijan are worsening. This is an important story as Azerbaijan has become a vital cog in the Kremlin's North-South transport route to South Asia
Is Azerbaijan secretly backing Isreal's bombing runs? Tehran wants to know. >> The latest frontpage from The Cetnral Asia & South Caucasus Bulletin: (sign up for the full story)