Belarus tests new BUK missile system as a low-key arms race in Eastern Europe gathers momentum
CSTO states express serious concern over terrorist threat in Afghanistan
Armenia refuses to host Eurasian Economic Union summit
COMMENT: Trump 2.0 could be a blessing for Belarus
PANNIER: Why the Turkmenistan, Iran gas “friendship” is back on
Russia’s CBR keeps key rate at 21% under pressure
Russia’s arms exports slump, Kremlin preparing for possible war with Nato
North Korea’s missile support to Russia raises alarms at UN
Ukraine invasion was ‘spontaneous’ and unplanned, Putin claims
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Telia willing to sell its Latvian operations back to government if price is right
The EU Council calls for a European geothermal action plan
FDI in Emerging Europe hit by geopolitical uncertainty and German slowdown
IMF: The 2004 EU enlargement was a success story built on deep reform efforts
Czech National Bank keeps interest rates at 4%
Czech EPH signs agreement with Italian Enel to buy its stake in Slovenske Elektrarne
Hungary grants political asylum to fugitive former PiS minister
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Polish producer price deflation eases further in November
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BALKAN BLOG: What Grenell’s return means for US diplomacy in the Balkans
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Kosovo's population down 12% since 2011
Kosovo’s president slams EU’s “unfair” treatment
Moldova's economy shrinks by 1.9% y/y in Q3
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North Macedonia's central bank lowers key interest rate by 0.25 pp to 5.55%
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Syrian-Kurdish SDF’s fighters from outside Syria will leave if Turkey agrees ceasefire, says commander
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INTERVIEW: Asian Infrastructure Investment Bank financing Central Asia’s green future
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PROFILE: Georgian President Salome Zourabichvili
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Freedom Holding Corp brings FIDE world rapid & blitz chess championships to Wall Street
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Mongolia copper-gold discovery hailed for “globally significant” prospects
Tajikistan: Officials announce discovery of major rare earth deposits
Tajikistan: Rogun Dam is a white elephant in the making – report
COP29: Central Asian states losing arable land
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Russia's budget oil breakeven price world’s second lowest as oil revenues recover
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The hurricane season in 2024 was weird
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Hundreds of millions on verge of starvation, billions more undernourished as Climate Crisis droughts take their toll
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Rain, rain go away
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Tunisian President Kais Saied re-elected for second term
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South Korea’s won slides as martial law crisis sparks market turmoil
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China unveils $71bn swap facility to revitalise flagging economy
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Fukushima's forgotten victims as Japan shifts back to nuclear power
Balancing growth and sustainability: Southeast Asia’s energy dilemma
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UPDATED: Syria's former president Assad arrives in Moscow
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TEHRAN BLOG: Pezeshkian's dilemma over Haniyeh's assassination
Iranian foreign ministry condemns Haniyeh's assassination in Tehran
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IMF: Breaking Latin America’s cycle of low growth and violence
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Mexican cartel boss who created fearsome Zetas returns to face justice after US deportation
Paraguay stands firm with Taiwan amid growing Chinese pressure
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Angkor Archaeological Park attracts nearly 700,000 foreign tourists in nine months
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Rising gold ETF inflows set to drive global bullion prices
Russian exports of diamonds to Hong Kong up 18-fold in 5M24
Gazli Gas responds to reports on Uzbekistan project, refutes any suggestion sanctioned individuals are involved
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INTERVIEW: Jeet Chandan, co-founder of Indian investment platform BizDateUp
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South Korean president impeached, Constitutional Court to sit December 16
Japan plans tax hike to fund $280bn military buildup
BCPG to invest $945mn in power projects, prioritising clean energy
Malaysia’s industrial growth slows in October following mixed sector performance
Myanmar junta to allow observers for controversial 2025 election amid ongoing conflict
Nepal floods - death toll rises to 209
Kolkata hospital rape and murder case sparks international outcry, raises questions
South Asia hit by floods and landslides after heavy rainfall
Russian pivot to the Global South includes unscrupulous army recruiting practices
North Korean troops suffer casualties in Ukraine conflict
South Korea intensifies military drills to bolster defences against North Korean drone threat
Security personnel dead as Imran Khan’s supporters breach Islamabad lockdown
Pakistan could quit TAPI as India now “extremely lukewarm” on gas pipeline project, says report
Papua New Guinea tribal conflict leaves 30 dead amid gold mine dispute
Thousands evacuated as Mt. Kanlaon erupts, threatening more explosive activity
South Korea's acting president rejects six controversial bills amid growing tensions
Korean won dips to crisis levels amid US rate cuts and market volatility
Sri Lanka’s merchandise exports in October up 18.22%
Taiwan boosts defence with advanced Abrams tanks amid rising Chinese tensions
Vietnam faces challenges in meeting carbon emission targets
German Prosecutors Confirm Termination of Money Laundering Investigation Against Alisher Usmanov
Comments by President of the Russian Fertilizers Producers Association Andrey Guryev on bilateral meeting between Indian Prime Minister Narendra Modi and Russian President Vladimir Putin
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Net profit at Uzbekneftegaz (UNG) contracted 53% y/y to Uzbekistani som (UZS) 611.6bn ($48.4mn) in 2023, according to investment company Kapital Depozit.
The bottom line represented a fivefold decrease compared to the annual net profit of UZS 3.3 trillion posted in 2022.
Also in 2023, UNG’s assets rose 13.1% y/y to UZS 89.1 trillion, while revenue gained by 11.2% y/y to UZS 14.7 trillion.
Shareholders' equity dropped by 2.9% y/y to 48 trillion som.
Dividend payments doubled to UZS 2.5 trillion. Long-term bank loans showed a slight decrease from UZS 18 trillion to UZS 17.6 trillion. Short-term loans tripled from UZS 746.8bn to UZS 2.2 trillion som.
UNG’s gas production remained on a downward curve last year. Uzbekistan is stepping up imports of Russian gas to compensate for the lack of domestic gas resource options.
The company, meanwhile, transferred ownership of its UNG Petro fuel stations and Chinaz petroleum refinery plant to Daniyar Kamilov’s Petroleum Technology Group.
UNG is a fully state-owned integrated natural gas and liquid hydrocarbons producer with strong links to the government.
Fitch Ratings said in a November assessment: “We expect UNG's leverage to improve from 2025 as its gas-to-liquids (GTL) plant is now operational and should start to more significantly contribute to UNG's earnings from 2024 but it remains subject to operational risks.
The World Bank has to realise that the Rogun mega project “dream of the biggest dam [in the world] will turn into a nightmare for the people and nature in Tajikistan and beyond” and that it ... more
The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to $10mn (€9.1mn) to TBC Bank Uzbekistan (TBC UZ) to ... more
Uzbekistan's government officials are talking about a new phase of governance, marked by transformative economic and social reforms. GDP has doubled over the past five years to surpass ... more
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