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banking and finance

Turkmenistan: If I go there will be trouble, and if I stay it will be double

Turkmen President Gurbanguly Berdymukhamedov took time out of his crammed schedule this...

Turkmenistan: Cotton bans and whitewashes

It is not often that you hear about cotton from Turkmenistan, although...

Uzbekistan mulls introducing Islamic banking

Thoughts in Uzbekistan have turned to introducing Islamic banking services — a...

Tajikistan: Saudis to acquire stake in troubled bank

An investment fund from Saudi Arabia has agreed to buy a controlling...

Kyrgyzstan: Probe into ex-deputy PM reveals unexplained riches

An investigation in Kyrgyzstan into the holdings of a former deputy prime...

New report lifts lid on Azerbaijani elites’ business empires

Azerbaijan’s most powerful families have been using offshore networks to make investments...

Tajikistan: Former head of liquidated bank under arrest

The former head of a bank in Tajikistan that collapsed under the weight...

Kazakhstan: President’s remarks precipitate crisis at bank

With words he hoped would serve as a sharp kick in the...

Tajikistan takes another go at bond market

Heavily indebted Tajikistan has reportedly decided to take another run at the...

Tajikistan: With e-wallets scuppered, shoppers more stranded than ever

A recent desperate and quixotic measure by Tajikistan’s government to boost budget...

Breaking Tajikistan's banks: The north falters as ruling family cements position

When the chief executive of one of Tajikistan’s few banking success stories...

Kazakhstan: Police detain top reporter for local Forbes

Police in Kazakhstan have raided the offices of the local online edition...

European Investment Bank Approves $1 Billion Funding for TANAP Gas Pipeline

The European Investment Bank (EIB) has approved 932 million Euros ($1.15 billion)...

Kazakhstan: Two High-Profile Trials Conclude with Jailings

Two high-profile criminal trials in Kazakhstan — one for murder and the...

Perspectives | After Russia's Election, Expect Economy to Putter On as Before

In the two months between Vladimir Putin’s virtually assured victory on March...

Perspectives | What Another Six Years of Putin Spells for Russia’s Economy

Most Russians would be forgiven for skipping this month’s presidential election. With...

Tajikistan: Year After Bank Fails, Depositors Still Can’t Get Cash

One year since a mid-sized bank in Tajikistan collapsed, savers have barely...

With Port Project, Georgia Seeks Place on China's Belt and Road

For years, Beijing has cast a shadow on a patch of swamp...

Tajikistan Debt Crosses a Red Line

Tajikistan’s external debt reached $2.9 billion at the start of 2018, crossing the...

European Bank Approves 1.5 Billion Euros For Azeri Gas Pipeline

The European Investment Bank (EIB) has approved 1.5 billion euros in financing...

TAPI Enters Afghan Phase with Little Cash and Many Problems

It is the natural gas pipeline project that many have long said...

Kyrgyzstan: Freeze Turns to Hot Fury Over Bishkek's Power Plant Failure

Aigul Dogdurova, a 43-year old native of Bishkek, cannot remember anything like...

Tajikistan: Is Islamic Banking the Future?

Many of Tajikistan’s traditional banks are wobbling due to years of chronic...

Tajikistan: How a Broke Government Keeps its Books Balanced

In its annual budget, Tajikistan is relying on unusual accounting maneuvers to ensure...

Tajikistan: Failing Bank Embarks on Fire Sale

One of Tajikistan’s near-insolvent banks has embarked on a desperate fire sale...

Uzbekistan Strikes Multibillion Dollar Deals in Korea, Seeks Mining Help

In his latest foray in the mission to reopen his nation to...

Kazakhstan: Financial Illiteracy Hampering Economic Recovery

Kazakhstan’s National Bank will embark on research next year to find out...

Currency Reform in Uzbekistan: Pain Precedes Gain

On the morning of November 15, motorists in Uzbekistan arrived at filling...

Kazakhstan: State Bailing Out Yet Another Ailing Bank

The government in Kazakhstan is mulling a generous rescue plan for a...

Kazakhstan: President Sees Red Over Collapsing Bank

Kazakhstan’s President Nursultan Nazarbayev has angrily condemned management at  a mid-sized bank...

Russian-Armenian Tycoon Expanding Influence in Armenia

Samvel Karapetyan, an Armenian-born billionaire who has built a business empire in...

Tajikistan: Business Rival of President’s Son-in-Law Neutralized

The owner of a leading chain of gas filling stations in Tajikistan...

Azerbaijan: EBRD Gives Go Ahead for Azeri Pipeline Funding Despite “Laundromat” Allegations

The European Bank of Reconstruction and Development’s board on October 18 approved...

Expert Opinions, Episode 3: Looking at Luxury Real Estate’s Money Laundering Role

A podcast from the Harriman Institute at Columbia University....

Azerbaijan’s Last Free Newswire Fears Closure by December

Azerbaijan is continuing its investigation into the finances of the country’s last-standing...

Ukraine and Chinese Investment: Caution Amid Potential?

As Ukraine’s recent economic difficulties persist—the country registered a modest growth rate...

Azerbaijan Sues French Journalists, In France, For Defamation

Two French reporters appeared in a Parisian court on September 5 to...

Uzbekistan Returns to Currency Convertibility, Delivers Blow to Black Market

The big bang has arrived for Uzbekistan’s financial system, with the government...

Tajikistan: Counting the Cost of a Banking Meltdown

Before hanging himself at the beginning of August, 50-year-old Dushanbe resident Hairiddin...

Kazakhstan: Banking System Undermined by Expensive Credit

Kazakhstan’s banking sector is having trouble finding that light at the end...

Kazakhstan: Research Reveals Chronic Shortfall in Housing Supply

Over the past three years, the volume of real estate construction in...

Georgia: Statistical Hiccup Prompts World Bank Downgrade

Georgia’s economy appeared to take a step backward earlier this summer when...

Uzbekistan: Karimov’s Economic Model Comes Under Attack

Criticizing the policies of the late president of Uzbekistan is very much...

Turkmenistan: Bribery Scandals Galore as Anti-Graft Body Gathers Strength

Another wave of corruption and bribery-related scandals is sweeping through Turkmenistan. The...

Can China Help GUAM Diversify Away from Russia?

Established in 1997, GUAM—a platform named after its members Georgia, Ukraine, Azerbaijan,...

Turkmenistan: President Calls Time on Welfare Benefits

The president of Turkmenistan has in a long-awaited move ordered an end...

Azerbaijan: State-Run Bank Default Vexes International Investors

Azerbaijan rattled international investors this month when the country’s biggest lender, International...

Kazakhstan: Banks Cutting Financing for Construction Sector

Banks in Kazakhstan are cutting back on lending to the construction sector...

Uzbekistan: President Chews Out Former Would-be Rival

Uzbekistan’s President Shavkat Mirziyoyev has in a remarkable outburst dressed down a...

Turkmenistan: Is Corruption Probe Sign of Government Panic?

A very public campaign against corruption in Turkmenistan is picking up steam...

Debt-Troubled Azerbaijan Spending Big on Islamic Games, Formula 1 and Mariah Carey

Just as its largest, government-owned bank defaults on its liabilities, Azerbaijan is...

Uzbekistan: President's China Trip Yields Giant Rewards

Uzbekistan’s president went to China last week with great hope of landing...

New Bank Serves as Financial Catalyst for Central Asia’s “Belt and Road” Development

A two-day summit to unveil what China is portraying as the infrastructure...

China: One Belt, One Road, Lots of Obligations

It’s not often that the leaders of democracies like Switzerland and Spain...

Azerbaijan: Flower Power Struggles to Revive

For over a decade, Azerbaijan celebrated the birthday of former president Heydar...

Azerbaijan: Racing to Develop Natural Gas Potential

Back in 1994, when the so-called “Contract of the Century” was signed,...

The US “Offshore” Industry and the Eurasian Connection

In Cheyenne, Wyoming, a small brick-faced house sits between a Greek Orthodox...

Navigating Offshore: Analyzing International Finance Post-Panama

When a businessman with international holdings and properties rose to the highest...

China’s Strategy in the Caucasus

When leaders of Azerbaijan and Georgia took part in a session titled...

Kyrgyzstan: Former Newspaper Owner Threatened With Arrest

The former owner of Kyrgyzstan’s largest newspaper — which has tacked away...

Uzbekistan: EBRD Visit Marks Win for Liberal Faction

Top representatives of the European Bank of Reconstruction and Development traveled to...

Azerbaijan, Dropping Out of Transparency Initiative, Issues Challenge to Foreign Investors

Azerbaijan has decided to leave the Extractive Industries Transparency Initiative (EITI) after...

Tajikistan: Firing of Official Reignites Talco Intrigue

When top officials are fired in Tajikistan, it is usually with reassuring...

Tajikistan: Currency Embarks on a New Slide

A sudden shortage of dollars in circulation in Tajikistan has led to...

Uzbekistan: Corruption Whistleblower Summoned to Court

An entrepreneur in Uzbekistan who made a splash last year after appearing...

Kazakhstan: Editor of Tribuna Newspaper Detained for Money-Laundering

Anti-corruption officials on February 10 detained the editor of one of Kazakhstan’s...

Tajikistan: Prosecutors Probe Bailed-Out Banks

Weeks after the government in Tajikistan announced an ambitious bond issue to...

Kazakhstan Going Into Soft Power Overdrive

Kazakhstan made the front pages of international newspapers last month when it...

Kyrgyzstan: Rural Residents Cope with Water Woes

In Kyrgyzstan’s southern Batken Region there is a village called Beshkent, where...

Azerbaijan: Is Platform for Peace an Olive Branch or PR Stunt?

At a time when the prospects for peace between Armenia and Azerbaijan...

Team Trump on Russia: Words and Actions

U.S. President-elect Donald Trump has picked his Cabinet members and advisors. Here...

Russia: Geopolitical Gifts Mask an Economic Dilemma for Putin

As Russia prepares to celebrate Orthodox Christmas, Russian leader Vladimir Putin has...

Turkmenistan's Image as Gas Supplier Takes Hit in Iran Row

As Turkmenistan and Iran continue to trade accusations in their unfolding dispute...

Uzbekistan: Azimov Loses Job at Finance Ministry

A man one time considered a possible successor to Uzbekistan’s late president...

Uzbekistan Picks President, But Who Will Be PM?

The main intrigue in Uzbekistan now the presidential election is over concerns...

Uzbekistan: Business Owner Airs Corruption Woes on State TV

Uzbekistan’s state-run Channel One aired a sensational segment during a show called...

Hackers Release More E-Mails They Say Tie Putin Aide to Ukraine Crisis

KYIV -- Ukrainian hackers claim to have broken into a second e-mail...

Kyrgyzstan Faces Mounting Debt Pile

An International Monetary Fund official is sounding the alarm over Kyrgyzstan’s rapidly...

Azerbaijan: Scapegoating Adam Smith

Azerbaijan’s president, Ilham Aliyev, has finally acknowledged that the energy-export-dependent country is...

Kazakhstan: Is Shymkent Tycoon a Coup Plotter or Fall Guy?

A military court in Kazakhstan last week began hearings behind closed doors...

Azerbaijan: Economy Riding in the Breakdown Lane

Just a few months ago, authorities in Azerbaijan spent tens of millions...

What Happened to the August 1991 Soviet Coup Plotters?

Eleven hard-liners in the Soviet government, military, Communist Party, and KGB were...

Uzbekistan: Samarkand Street Sweepers Strike Back

Armed with only the tools of their trade, a group of more...

Tajikistan: Fraud Uncovered at State Bank

Tajikistan’s anticorruption agency says it has uncovered an alleged embezzlement scheme at...

Commentary: Hybrid Business -- The Risks in the Kremlin's Weaponization of the Economy

"How many divisions does the pope have?" Josef Stalin was meant to...

Tajikistan Sees Further Drastic Slide in Currency

Tajikistan’s Finance Ministry has conceded that the national currency will continue to...

Kyrgyzstan Reaches New Heights of Debt

Kyrgyzstan’s state debt has almost hit the $4 billion mark, sailing upward...

Tajikistan Looking for Yet More Bailouts

Tajikistan’s National Bank is once again pleading for an international bailout as...

Tajikistan: Italians Picked for Rogun Dam Contract

The state commission in charge of the project for Tajikistan’s Rogun mega-dam...

Will China Bring Nuclear Power to Moldova?

China appears willing to help Moldova become a nuclear power. But for...

Tajikistan, Turkmenistan Submit to Chinese Capture

Fifth in a Five-Part Series...

Briton Faces Down Kyrgyzstan's Most Wanted Exile

A British court has begun reviewing a civil case involving the youngest...

Georgia: A Happy Hippo and a Rebuilt Zoo for Flood Anniversary

One year after a devastating flood that killed 21 people and sent...

Chafing at Sanctions, Moscow Pokes and Pries at EU Unity

Standing before a classical Greek frieze at a press conference in Athens...

Kazakhstan: Mud-Slinging at Protesters Highlights Apparent Media Double Standards

Aimira Shaukentayeva reads her news bulletins with a stony and ferocious demeanor....

Azerbaijan: Will Khadija Ismayilova's Freedom Open Prison Doors?

Two days before her 40th birthday, Azerbaijani investigative journalist Khadija Ismayilova was released...

The Poor Are the First to Fight in Nagorno-Karabakh

In Armenia, they are called heroes; in Azerbaijan, martyrs. One lived in a...

Russian State Presence in Armenian Energy Sector Declining

Russia’s economic grip over Armenia may be loosening ever so slightly, highlighted...

Another Crack in Uzbekistan's Economic Success Story

A new group of people is joining the ranks of the unemployed...

Tajikistan: Annual Remittance Data Confirm Worst Fears

The annual collapse in migrant laborer remittances from Russia to Tajikistan has...