Uzbekistan's Largest Digital Banking Platform Names Board Chairman
Uzbekistan's largest digital banking platform named Oliver Hughes, who previously ran Russia's biggest fintech business, to be chairman of the supervisory board, as the firm aims to ramp up its expansion in Central Asia's most populous nation.
The board will also include directors David Nangle, co-founder of Stockholm-listed investment firm Vef AB, and Matthew Risley, a partner emeritus at US-based QED Investors, TBC Digital JSC said in a statement on Wednesday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Air Astana: How can Kazakhstan's flag carrier boost its dwindling share price?
As Central Asia's only airline listed on three stock exchanges, Kazakhstan's flagship carrier Air Astana has led the region's aviation sector for over 20 years. Since its IPO in February 2024, the airline's share price has dipped. Ahead of their half year results, Euronews sat down with Air Astana's CEO, Peter Foster, to discuss his plans to raise share prices and expand Kazakhstan's flag carrier's global presence. Q: How do you assess investor sentiment following Air Astana's IPO, and what key strategies do you plan to implement to maintain stock and shareholder value? A: The stock price has been a bit disappointing since the IPO in February of last year — the stock price has declined. The main point to make is that the company, in fact, has performed extremely well and continues to do so. So of course, our job is to manage the company to the best of our ability and of course to maximise shareholder value. We have recently announced a very substantial dividend. In fact, the largest dividend that we've ever paid, and one of the largest dividends in the airline industry today. And that's a reflection of the strong performance, of the strong balance sheet, the strong cash balance. We believe that if we continue to manage the company well and if it performs well, the stock price will follow eventually. The key really is to continue managing the airline in the way that we have in all [my] 20 years here: To keep focussed on cost, to keep cost competitive so that the airline remains competitive in an increasingly challenging global marketplace and to maximise service levels to ensure top class safety standards and by doing so, we can leverage the quality of the product to ensure the airline continues being profitable. Related The Big Question: How will AI transform the travel industry? Airbus pledges higher dividends as it confirms financial guidance Q: You have outlined major strategic opportunities for international growth — in the Gulf, Western Europe, China, Korea, Japan and India. What would these partnerships entail? A: Kazakhstan is a country of 20 million people and yet Air Astana today is at 62 aircraft and of course we intend to grow that to 84 aircraft by the end of 2028. When you look at the size of Air Astana and growth profile and the overall size of the Kazakhstan market, you see that of course we are proud to serve the Kazakhstan market and Kazakhstan's travellers, but it's not sufficient to enable the airline to grow as we are doing into a significant international airline player. Therefore, we absolutely need to leverage our position in close proximity to some of the world's largest markets to ensure that we are also getting a significant portion of our customers from those large markets which are much bigger than Kazakhstan. The best way to leverage that geographical position is to work with partner airlines from those countries. We're presently in discussions with China Southern in China, we are having discussions with carriers in India, we've recently signed a code share with Japan Airlines for the Japanese market, we have an existing commercial relationship with Lufthansa for western Europe, with Turkish Airlines for Turkey. So, this is the way that an airline of our aspiration with a home market that is relatively small can leverage the quality of the airline and the geography of location of the airline with partners to expand beyond its own borders. Q: With the current shortage of fuel-efficient aircraft, how is Air Astana adapting its operational strategies? A: The manufacturers and the engine manufacturers introduced new engine technology from NASA ten years ago. Without going into technical detail, it was technology that was primarily driven by the need to provide higher bypass engines, which are more fuel-efficient. You get more power from less fuel burned, which saves the airline money and of course, it's more environmentally sustainable. In fact, on an average flight, it takes to London [from Astana], a 7.5-hour flight, we can save up to 20-25% more fuel than would have been burning in the past times. So that's very good. The problem with that is that the engine technology is relatively new, complex and it has been subject to reliability issues which are ongoing and so we're not getting quite the efficiency or the sustainability readings that we had hoped for. But those problems will resolve themselves in time and therefore we can expect to get the full benefits both in terms of economics and the environment as we go forward. Related 'Geologically blessed': How Kazakhstan can help Europe's green transition Volvo Cars CEO: dual tech for China and the West is new trade reality Q: What green technologies or sustainability initiatives is Air Astana adopting to contribute to Kazakhstan's net-zero goals? A: We were one of the first movers to bring in the Airbus neo long-range aircraft. In fact, we were the first airline to sign for those aircraft at Paris Air Show ten years ago. They are significantly better, more optimal than the previous engine technology that was deployed on aircraft on those long routes and we will continue to introduce those aircraft in order to meet the sustainability targets. The manufacturers are working on enhanced technology in terms of aerodynamics, in terms of wing design, in terms of engine design, as we go forward. But inevitably the significant portion of our realisation of net zero will come from carbon credits and the CORSIA scheme (Carbon Offsetting and Reduction Scheme for International Aviation), which has been introduced and endorsed by the United Nations and all member states. Sign in to access your portfolio
Yahoo
3 hours ago
- Yahoo
Air Astana: How can Kazakhstan's flag carrier boost its dwindling share price?
As Central Asia's only airline listed on three stock exchanges, Kazakhstan's flagship carrier Air Astana has led the region's aviation sector for over 20 years. Since its IPO in February 2024, the airline's share price has dipped. Ahead of their half year results, Euronews sat down with Air Astana's CEO, Peter Foster, to discuss his plans to raise share prices and expand Kazakhstan's flag carrier's global presence. Q: How do you assess investor sentiment following Air Astana's IPO, and what key strategies do you plan to implement to maintain stock and shareholder value? A: The stock price has been a bit disappointing since the IPO in February of last year — the stock price has declined. The main point to make is that the company, in fact, has performed extremely well and continues to do so. So of course, our job is to manage the company to the best of our ability and of course to maximise shareholder value. We have recently announced a very substantial dividend. In fact, the largest dividend that we've ever paid, and one of the largest dividends in the airline industry today. And that's a reflection of the strong performance, of the strong balance sheet, the strong cash balance. We believe that if we continue to manage the company well and if it performs well, the stock price will follow eventually. The key really is to continue managing the airline in the way that we have in all [my] 20 years here: To keep focussed on cost, to keep cost competitive so that the airline remains competitive in an increasingly challenging global marketplace and to maximise service levels to ensure top class safety standards and by doing so, we can leverage the quality of the product to ensure the airline continues being profitable. Related The Big Question: How will AI transform the travel industry? Airbus pledges higher dividends as it confirms financial guidance Q: You have outlined major strategic opportunities for international growth — in the Gulf, Western Europe, China, Korea, Japan and India. What would these partnerships entail? A: Kazakhstan is a country of 20 million people and yet Air Astana today is at 62 aircraft and of course we intend to grow that to 84 aircraft by the end of 2028. When you look at the size of Air Astana and growth profile and the overall size of the Kazakhstan market, you see that of course we are proud to serve the Kazakhstan market and Kazakhstan's travellers, but it's not sufficient to enable the airline to grow as we are doing into a significant international airline player. Therefore, we absolutely need to leverage our position in close proximity to some of the world's largest markets to ensure that we are also getting a significant portion of our customers from those large markets which are much bigger than Kazakhstan. The best way to leverage that geographical position is to work with partner airlines from those countries. We're presently in discussions with China Southern in China, we are having discussions with carriers in India, we've recently signed a code share with Japan Airlines for the Japanese market, we have an existing commercial relationship with Lufthansa for western Europe, with Turkish Airlines for Turkey. So, this is the way that an airline of our aspiration with a home market that is relatively small can leverage the quality of the airline and the geography of location of the airline with partners to expand beyond its own borders. Q: With the current shortage of fuel-efficient aircraft, how is Air Astana adapting its operational strategies? A: The manufacturers and the engine manufacturers introduced new engine technology from NASA ten years ago. Without going into technical detail, it was technology that was primarily driven by the need to provide higher bypass engines, which are more fuel-efficient. You get more power from less fuel burned, which saves the airline money and of course, it's more environmentally sustainable. In fact, on an average flight, it takes to London [from Astana], a 7.5-hour flight, we can save up to 20-25% more fuel than would have been burning in the past times. So that's very good. The problem with that is that the engine technology is relatively new, complex and it has been subject to reliability issues which are ongoing and so we're not getting quite the efficiency or the sustainability readings that we had hoped for. But those problems will resolve themselves in time and therefore we can expect to get the full benefits both in terms of economics and the environment as we go forward. Related 'Geologically blessed': How Kazakhstan can help Europe's green transition Volvo Cars CEO: dual tech for China and the West is new trade reality Q: What green technologies or sustainability initiatives is Air Astana adopting to contribute to Kazakhstan's net-zero goals? A: We were one of the first movers to bring in the Airbus neo long-range aircraft. In fact, we were the first airline to sign for those aircraft at Paris Air Show ten years ago. They are significantly better, more optimal than the previous engine technology that was deployed on aircraft on those long routes and we will continue to introduce those aircraft in order to meet the sustainability targets. The manufacturers are working on enhanced technology in terms of aerodynamics, in terms of wing design, in terms of engine design, as we go forward. But inevitably the significant portion of our realisation of net zero will come from carbon credits and the CORSIA scheme (Carbon Offsetting and Reduction Scheme for International Aviation), which has been introduced and endorsed by the United Nations and all member states. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10 hours ago
- Yahoo
Robinhood co-founder's big bet on solar energy
Most investors would know Baiju Bhatt as the co-founder of Robinhood. He still sits on the company's board. But now, he has a new venture called Aetherflux. The startup aims to transmit solar energy through satellites. Bhatt he explains how it works to Yahoo Finance Executive Editor Brian Sozzi. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. Robinhood's co-founder, Biju Bhat, stepped down from his executive role at the Fintech giant last year to pursue a new endeavor, a space-based solar energy company called Etherflux. Our very own Brian Sozzy got a chance to sit down with him to discuss the company's mission as well as his role on Robinhood's board. Take a listen. The mission is to deliver energy to planet Earth. So, what does that mean? So we're taking this idea of space solar power, which an old NASA idea, Department of Energy from the '70s, of collecting solar power in space, beaming it down to the ground as an alternative energy source. Wild idea. Very wild. So if you pull off what you're trying to pull off, and I hope this doesn't sound really simple and borderline dumb, would we need solar panels anymore on people's roofs? Is that what you're trying to get rid of? I mean, I think it's a technology that kind of both is very complementary to that, and also is in many ways like a direct competitor to that. So when I think about, I think solar panels on roof, like those are useful in some capacity to people. Um, but I think the idea of having these really large solar farms on the ground that take up a tremendous amount of land that have adverse effects on the ecosystem underneath where the solar farms are, right? We can actually take that infrastructure and put it in space. This is kind of what our idea is. And instead project down a beam of power that uses way less real estate on the ground. So maybe this is a good time to just kind of broadly explain what the idea is. Yeah, far, yeah, please. Far out intended, far away. Far out actually. So you have solar panels in space, you have the sunlight from the sun that hits them in space. And the cool thing is, is that if you put it in the right orbit in space, you can have your satellite either continuously illuminated or illuminated a really large percentage of the time. And you get a constant amount of sunlight energy. So that sunlight energy is then converted to electricity on the satellite. And it's either stores the electricity in batteries or directly transmits that electrical power to the thing that transmits the power down to the ground, which is an infrared laser. So you have I'll put it in there far away. You're still on the Robinhood board. Now we, the past few years, I I've marveled at what Robinhood has done. Um, culturally, the company seems different. The top and bottom line results are different. They actually won our comeback of the year award last year. Um, has visions of potentially being a future JP Morgan, acquisitions. Like, what was a turning point inside of Robinhood that can help explain why the stock now near at a record high? Like, did something happen? I think we've been pretty focused on the mission from the beginning, right? And I think that's kind of been the sort of North Star, kind of coming back to the the parallel to Etherflux, right? The mission of democratizing finance for all. I think it's one of the things that motivates the company and motivates a lot of the decisions that we make there. And it's just been like really hard work and execution year and year out. I think, from my perspective, having, you know, co-founded the company with Vlad, I kind of see like all the little steps along the way and kind of the hard work it take took to get to every one of the different steps. And, yeah, I'm I'm proud of the execution. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
