The biggest bank in Georgia TBC is to arrive in Uzbekistan by buying local payment service Payme. It is acquiring a 51% stake for $5.5mn.
Opportunity knocked at start of 2019 after US Fed indicated it was retreating from tightening. That switched bond investors to risk-on and yield-hungry, attracting many to Emerging Europe markets.
Milestone will help country with its bid to restore its image as a welcoming destination for foreign traders and investors.
Kazakhstan’s ruler of 30 years Nursultan Nazarbayev has gone. Only he’s not gone. And ordinary Kazakhs who’ve lived through three “Soviet-groomed” decades don’t hold out much hope a handpicked successor will change much about their lives.
Tashkent broker trades shares for foreign investor on nascent local stock market and repatriates proceeds in USD to Hong Kong.