Latest news with #Uzbekistan
Malay Mail
4 hours ago
- Business
- Malay Mail
Malaysia eyes nuclear energy revival, stronger ties with Uzbekistan, Russia
MOSCOW, June 28 — Deputy Prime Minister Datuk Seri Fadillah Yusof has concluded his eight-day working visit to Uzbekistan and Russia, marking a pivotal step in Malaysia's renewed efforts to strengthen strategic international partnerships. The visit focused on the potential revival of Malaysia's nuclear energy programme, alongside collaboration in the halal economy, tourism, energy investments and Islamic finance. A key milestone was the signing of a non-disclosure agreement (NDA) between MyPower Corporation, a special-purpose agency under the Ministry of Energy Transition and Water Transformation (PETRA), and the Russian state atomic energy agency Rosatom. The agreement paves the way for potential cooperation in the peaceful use of nuclear technology, as Malaysia re-evaluates its long-term energy strategy. As Malaysia advances its National Energy Transition Roadmap, nuclear energy is being seriously considered as a reliable, clean baseload option to diversify the energy mix and achieve long-term climate and energy security goals. Malaysia previously had a robust nuclear development agenda, including plans to commission two nuclear power plants by 2021. However, these plans were shelved, and the Malaysia Nuclear Power Corporation was disbanded in 2018. Today, amid increasing pressure to decarbonise and diversify its energy sources, nuclear energy is once again under consideration as a viable low-carbon option. A recently completed pre-feasibility study yielded encouraging findings, prompting the government to explore implementation pathways that align fully with global safety, security and non-proliferation standards. The visit also reinforced Malaysia's global halal leadership. Both Uzbekistan and Russia expressed strong interest in leveraging Malaysia's well-established halal ecosystem. Additionally, the Uzbek government extended a formal invitation to Malaysia's national oil and gas company, Petroliam Nasional Bhd (Petronas), to consider reinvesting in the republic's energy sector. Petronas had exited Uzbekistan in 2013, but new opportunities in exploration and upstream development have emerged as Uzbekistan seeks to revitalise its energy landscape. Tourism ties were boosted by AirAsia X's launch of direct flights from Kuala Lumpur to Tashkent, operating three times weekly. Recognising the potential to further enhance travel and trade, Fadillah encouraged AirAsia X to expand its route to include Samarkand, a historic Silk Road city and UNESCO World Heritage Site, offering added value for both leisure and cultural tourism. Uzbekistan is also keen to collaborate with Malaysia on carbon trading, and has expressed interest in tapping Malaysia's extensive experience in developing the sukuk market — an area in which Malaysia is widely recognised as a global leader in Islamic finance. — Bernama
Japan Times
4 hours ago
- Politics
- Japan Times
EU proposes eel trade restriction despite opposition from Japan
The European Union on Friday proposed making all eel species, including the Japanese eel, subject to regulation under an international treaty to protect endangered species — a move that Japan opposes. The EU, along with the Dominican Republic, Panama and Honduras, submitted the proposal to the secretariat of the Convention on International Trade in Endangered Species of Wild Fauna and Flora, or CITES. The proposal is aimed at putting fry, full-grown eels and processed eel products of all 18 species under regulation. CITES, also known as the Washington convention, lists animals and plants requiring protection in annexes on three levels depending on the degree of regulation. The EU and others seek to add all eel species to the second level. The proposal will be discussed among parties to the pact at a conference in Uzbekistan from November to December. If the proposal is approved, exporters will be obliged to issue permits based on scientific assessments, putting eels and processed products under stricter trade control. Japan, where eels are prized food, opposes the proposal. "There is no risk of eels becoming extinct due to international trade," a fisheries agency official has said. On Friday, agriculture minister Shinjiro Koizumi voiced deep regret over the situation, adding that his country will do everything it can to block the adoption of the proposal in cooperation with China and South Korea.
NHK
10 hours ago
- Business
- NHK
EU proposes international trade regulations on all eel species
The European Union has proposed making all eel species, including the Japanese eel, subject to trade regulations under an international convention. The EU and other countries, including the Dominican Republic, submitted the proposal on Friday to the secretariat of the Convention on International Trade in Endangered Species of Wild Fauna and Flora. The convention regulates international trade in endangered species. The EU calls for all non-listed eel species to be subject to trade controls under the pact. Parties to the convention will discuss the proposal at a meeting in Uzbekistan starting in November. If they approve the proposal, international trade in the eel species will come under the regulations, which require exporting countries to issue permits. A series of moves have been made to strengthen protection of eels. Parties to the convention made the European eel subject to the regulations in 2009. In 2016, they adopted a proposal by the EU to conduct a study of the global eel trade. The EU cited a lack of transparency in such trade.
Malay Mail
2 days ago
- Business
- Malay Mail
Migrant-funded dreams: How Kyrgyzstan is growing on foreign wages
BATKEN (Kyrgyzstan), June 26 — In a remote town in southern Kyrgyzstan, teacher Nur Akhmatov watched workers building a library, conference hall and women's sports centre — construction mostly funded by Kyrgyz emigrants sending money home from Russia. The project in Batken is a snapshot of how important emigrant labour has become for economies across Central Asia. The flow of remittances to the region came in at record amounts last year, according to World Bank data. An all-time high of US$3 billion (RM12.67 billion) flowed into Kyrgyzstan from migrant workers living abroad, accounting for around 25 per cent of the country's gross domestic product. In neighbouring Tajikistan, the US$6 billion made-up almost half its GDP — the highest level in the world. Uzbekistan, the region's most populous nation, received US$14.8 billion — 14 per cent of GDP. 'When I worked in Moscow, I donated 300 som (RM12) a month,' said Akhmatov, who is supervising the construction of the building in his home village. He said some 1,500 migrants recently contributed to build a new school in Batken, where the average salary is around US$235. A new sports centre is a particular source of pride for teacher Abazbek Abdinabiyev. 'Children would play in the dust ... now we have this, and a pitch,' he told AFP, showing off the bright blue and yellow indoor sports court. 'The contribution made by migrants has been enormous. Despite being far away, they have all helped to ensure that their children and brothers could have this opportunity,' Abdinabiyev told AFP. In a remote town in southern Kyrgyzstan, teacher Nur Akhmatov watched workers building a library, conference hall and women's sports centre — construction mostly funded by Kyrgyz emigrants sending money home from Russia. — AFP pic 'Duty of every citizen' Local currencies have slipped against the Russian rouble in recent months, pushing up the spending power of what migrant workers send back. The Kyrgyz government estimates that without remittances, the country's poverty rate would shoot up from 29 per cent to 41 per cent. Unable to fund such projects alone, governments encourage the contributions. 'Beautifying the country is the duty of every citizen,' reads a government banner stretched over the road in Mehrobod, northern Tajikistan. 'Each district is trying to solve its own problems: getting our children into school, keeping the streets clean and well-maintained,' said villager Abdukakhor Majidov. Around him, crews on rollers and with shovels were levelling the ground ahead of tarmacking. A new school and bridge were already completed last year. 'As soon as one street is repaired, we move on to the next,' said Majidov, who handles fundraising. Workers build a library, conference room and sports hall for women, funded by contributions from Kyrgyz migrant workers abroad. — AFP pic 'Less emigration' But leaving for Russia has lost some of its appeal since Moscow invaded Ukraine in 2022. While Russia's arms factories are booming and job opportunities are plenty, many fear being sent to fight in Ukraine. Around 20,000 Central Asian migrants who received Russian citizenship are already serving in the army, Moscow said last month. The recruitment triggered a backlash among Russia's traditional allies in the region. Without specifying what he was referring to, Tajik President Emomali Rakhmon has expressed concern about the 'hundreds of repatriated coffins' coming back from Russia, filled with those who had left 'to earn bread for their families'. There has also been a surge in anti-migrant sentiment in Russia following the arrest of four Tajiks as the suspected perpetrators of the 2024 massacre at a music venue outside Moscow, Russia's deadliest terror attack in two decades. Alongside a spike in violence and street harassment, Moscow passed laws making it easier to expel migrants. Kadyrbek Tashimbekov, 29, is among the 300,000 Kyrgyz who have left Russia — willingly or by force — between 2023 and 2024, according to Bishkek's statistics. The exodus accounts for more than half of all Kyrgyz migrants who were living in Russia. 'I was expelled after working there for eight years,' he told AFP. Now he operates the crane picking up the beams for the frame of Batken's new school. Kyrgyzstan President Sadyr Japarov has pledged to encourage labour migrants back to the country. Meanwhile locals hope to use their funds to boost living standards at home and break the cycle of emigration. The three former migrants that AFP spoke to — Abdinabiyev, Akhmatov and Tashimbekov — all said salaries were growing at home and do not plan to return to Russia. 'We are building this with the hope that if we have such centres, we will train them in the right professions, guide them,' said Akhmatov. 'And maybe there will be less emigration.' — AFP
Bloomberg
3 days ago
- Business
- Bloomberg
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.
