Investor's Newsletter for January 2009: Central Asia & Caspian Region

In this issue:

3 Laws & Legislations
3-4 Politics and Economics
3 Azerbaijan SWF looks at U.S. stocks, scolds managers
3 Kyrgyzstan requires $8.2 billion for Country Development Strategy
3 Former Tajik Gas official urged reduction in dependency on Uzbek gas
4 Economic Research Center says annual inflation was 15.4% in Azerbaijan in 2008
4 Kyrgyz President takes working trip to Moscow
4 Official hints Ashgabat has enough gas to supply NABUCCO
4 Delegation of Russian Gubkin Oil and Gas University arrives in Ashgabat
5 Banking
5 National Bank of Azerbaijan to reduce discount reduce to 5%
5 International banks give $200 millions to Georgia’s biggest bank
5 National Bank forecasts rough year for Kyrgyz
5 Azerbaijan National Bank’s portfolio of centralized credits reduced by 0.4% in January
5 HR News
6-7 Corporate News
6 One more petrol station under SOCAR brand opens in Georgia
6 Gas shortage causes business losses
6 Dragon Oil publishes drilling update
6 SOCAR puts off purchase of Tekfen Inshaat till September of 2009
7 Russia LUKOIL finds no oil, gas in Azeri project-source
7 Mobile communication subscribers in Kyrgyzstan increases 13.6 times since 2004
6 IPO and M&A news
7 Last month gainers / losers
8 Market Spotlight: GAZPROM OAO