Despite tense relations with Moscow, Georgian officials insist that foreign investors' interest in Georgia is thriving, while banking community representatives brush off as "baseless" recent Russian allegations of a huge international money-laundering ring involving Georgian banks.
Using a mix of patriotic rhetoric and military jargon, President Mikheil Saakashvili has compared the Russian embargo on Georgian wines, one of the country's top exports, to an "economic war." At the beginning of the harvest season, Saakashvili promised support to farmers and wine companies alike for the battle ahead.
President Mahmoud Ahmadinejad's effort to decentralize Iranian economic planning is generating strong opposition. Domestic critics say the plan is politically motivated and could end up accelerating the deterioration of Iran's economy.
After more than a year of negotiations, Russia has completed the acquisition of Armenia's power distribution network, tightening its grip on the Armenian energy sector. The Armenian government says the $73-million takeover will breathe new life into the Electricity Networks of Armenia (ENA). But government critics have denounced it as a further blow to the country's energy security.
Officials in Yerevan say Armenia will welcome a record-high number of travelers to the small South Caucasus nation this year, with ethnic Armenians from Europe and the United States accounting for the majority of visitors.
Officials in Yerevan say Armenia will welcome a record-high number of travelers to the small South Caucasus nation this year, with ethnic Armenians from Europe and the United States accounting for the majority of visitors.
Almost six months after Russia imposed a ban on Georgian wine imports, the country's vintners continue to struggle to carve out new markets. Georgian officials have high hopes that American consumers can pick up some of the slack created by the Russian embargo, but marketing experts say it will take time to build global brand recognition.
Armenia's Central Bank is holding firm on its fiscal policy in the face of criticism about the strength of the country's currency, which has gained about 40 percent in value against the US dollar in recent years. In defending itself against its critics, Central Bank officials are pointing to recently released data concerning the impact of cash remittances on the country's economy.
Japanese Prime Minister Junichiro Koizumi travels to Central Asia on August 28 for the first visit to the region ever made by a Japanese head of government.
The visit to Kazakhstan and Uzbekistan is the culmination of more than a decade of effort by Japan to forge stronger links with the Central Asian republics.
