Latest news with #Kazakhstan
South China Morning Post
27 minutes ago
- Business
- South China Morning Post
Central Asia friendship pact bolsters stability
Amid wars in the Middle East and Eastern Europe and geopolitical tensions, Central Asia is a comparative oasis of peace, stability and cooperation. This was reflected this week in the second China-Central Asia Summit. Advertisement The six countries signed a landmark permanent friendship pact, and President Xi Jinping pledged 1.5 billion yuan (HK$1.6 billion) in livelihood and development assistance to China's five partners – Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. China shares land borders with 14 neighbouring countries, and Central Asia is one of the least troublesome regions. In his keynote summit address, Xi stressed the need for cooperation amid global upheaval and transformation. Reiterating that there would be no winners in the tariff and trade war, he said: 'Supporters of protectionism and hegemonism will harm others and themselves.' The region, where Russia is historically dominant, is integral to Beijing's Belt and Road Initiative global development strategy, evidenced by heavy investment in energy pipelines, infrastructure and mining projects. Expansion plans include renewable energy and sustainable development – a focus of Xi's talks with the leaders of the five states. He also defended multilateralism and the global trade order at meetings, reflecting China's efforts to position itself as a reliable trade partner. Advertisement Beijing sees terrorism, separatism and extremism as threats to national and regional security, and Xi returned to this theme repeatedly in meetings with leaders. Notwithstanding the historical emphasis on economic development in the region, China has expanded its security presence through joint counterterrorism exercises, training programmes and aid.
CNA
6 hours ago
- Business
- CNA
Russia's Rosatom to explore construction of high-capacity nuclear plant in Uzbekistan
ST. PETERSBURG, Russia :Russia's state nuclear corporation Rosatom signed an agreement on Friday with Uzbekistan's atomic energy agency to study the feasibility of building a large-capacity nuclear power plant in the Central Asian country. Rosatom, which signed the agreement with the Uzbek government at the St. Petersburg International Economic Forum, already has plans to construct smaller nuclear units in Uzbekistan. The Russian energy company was also tapped over the weekend by the government of Kazakhstan to lead a consortium to build the first nuclear power plant there. There are currently no nuclear power plants in any of the five ex-Soviet Central Asian republics, although Uzbekistan and its neighbour Kazakhstan, both uranium producers, have long said their growing economies need them. The Uzbekistan plant will employ two Russian-designed VVER-1000 reactors, with the possibility to scale up to four. Last May, Russian President Vladimir Putin and Uzbek President Shavkat Mirziyoyev agreed on a deal for Rosatom to construct smaller-capacity plants with a capacity of 55 megawatts each in Uzbekistan. On Friday, Rosatom head Alexei Likhachev said Rosatom was discussing building two low-power and two high-power nuclear units in Uzbekistan. "The small modular nuclear power plant in Uzbekistan is the first export product of modern small power plants on the planet," Likhachev told reporters in St. Petersburg. He said the plants would help Uzbekistan respond to its growing electricity needs. He also told journalists the firm had approved a preliminary roadmap with Kazakhstan for two units there using Russian-made VVER-1200 reactors.
Reuters
6 hours ago
- Business
- Reuters
Russia's Rosatom to explore construction of high-capacity nuclear plant in Uzbekistan
ST. PETERSBURG, Russia, June 20 (Reuters) - Russia's state nuclear corporation Rosatom signed an agreement on Friday with Uzbekistan's atomic energy agency to study the feasibility of building a large-capacity nuclear power plant in the Central Asian country. Rosatom, which signed the agreement with the Uzbek government at the St. Petersburg International Economic Forum, already has plans to construct smaller nuclear units in Uzbekistan. The Russian energy company was also tapped over the weekend by the government of Kazakhstan to lead a consortium to build the first nuclear power plant there. There are currently no nuclear power plants in any of the five ex-Soviet Central Asian republics, although Uzbekistan and its neighbour Kazakhstan, both uranium producers, have long said their growing economies need them. The Uzbekistan plant will employ two Russian-designed VVER-1000 reactors, with the possibility to scale up to four. Last May, Russian President Vladimir Putin and Uzbek President Shavkat Mirziyoyev agreed on a deal for Rosatom to construct smaller-capacity plants with a capacity of 55 megawatts each in Uzbekistan. On Friday, Rosatom head Alexei Likhachev said Rosatom was discussing building two low-power and two high-power nuclear units in Uzbekistan. "The small modular nuclear power plant in Uzbekistan is the first export product of modern small power plants on the planet," Likhachev told reporters in St. Petersburg. He said the plants would help Uzbekistan respond to its growing electricity needs. He also told journalists the firm had approved a preliminary roadmap with Kazakhstan for two units there using Russian-made VVER-1200 reactors.
Arabian Business
7 hours ago
- Business
- Arabian Business
Americana in talks to acquire Five Guys in the region: reports
Americana Restaurants International, the largest out-of-home dining and quick service restaurant operator in the Middle East and North Africa and Kazakhstan with a portfolio that includes brands like KFC, Pizza Hut, Hardee's, Krispy Kreme, Wimpy and Costa Coffee, is reportedly considering adding Five Guys, Cinnabon and Seattle's Best Coffee to that list. Bloomberg has reported, with information from people familiar with the matter, that Americana is in talks to acquire Cravia Inc. from Fajr Capital, the private equity company that has owned Cravia since 2016. Talks are at an early stage, and there is no certainty a deal will be reached, the sources told Bloomberg, which could not get a response from Americana, while Fajr declined to comment. Americana eyes Five Guys acquisition Americana declared a revenue growth of 16.2 per cent for the first quarter of 2025, compared to the same period last year, with like-for-like sales improvements and the expansion of the store network. It reported an EBITDA of $121.7m, an increase of 17.4 per cent and net profit attributable to shareholders was $32.6m, a 16.5 per cent YoY increase. The company generated $33.5 million in Free Cash Flow during the quarter, while maintaining a strong balance sheet with no leverage and healthy cash reserves. Cravia has 78 outlets and more than 2,000 employees. In addition to Five Guys and Cinnabon, it operates or manages brands like Zaatar W Zeit, Seattle's Best Coffee and Carvel.
Associated Press
13 hours ago
- Business
- Associated Press
Across the Silk Road, Into China's "Wardrobe"
BEIJING, June 20, 2025 /PRNewswire/ -- A report from China Daily: From 'new Chinese-style' to fast-fashion wholesale, from e-commerce to brick-and-mortar stores, a Gen Zer from Kazakhstan has discovered a sartorial paradise in China—where no outfit is out of reach. As China cements its role as the 'world's wardrobe,' its speed, design prowess, and boundless options empower people everywhere to find their perfect style. View original content to download multimedia: SOURCE China Daily
