Uzbekistan tightly controls its currency, in the past year allowing it to depreciate very gradually. Officially, the Uzbek som has avoided the rapid and massive depreciation experienced by the Kazakh tenge, for example. But, unofficially, as Olim Abdullayev wrote for bne Intellinews this week, it’s a whole different story. On the Uzbek black market the som sits at 6,200 sum ...

Ever since the Eurasian recession began in earnest — or, predating that, when it was clear that Russia’s economic engine would stall under Vladimir Putin’s third term — there has nonetheless been a source of hope for Central Asia’s economies: China. On the backs of China’s One Belt, One Road (OBOR) platform, Beijing has stepped in to provide Central Asian ...

Dubai / WAM Mohammad Abdulla Al Gergawi, Chairman of Dubai Holding, announced on Saturday the preliminary unaudited financial results of its business group, Dubai Holding Commercial Operations Group (‘DHCOG’), for the year ended December 31, 2015. DHCOG continued to see good operational progress with all businesses performing well and contributing to Group profitability. Net profit increased to AED 5.83 billion, ...