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Uzbekistan Plans Privatization Drive

The Associated Press

... former Soviet nation. ALMATY, Kazakhstan — Uzbekistan's government says it plans to sell off almost 500 state assets over the next two years in an ongoing drive to expand the private sector in this former Soviet nation. Media in Uzbekistan cited Uzbek state property committee deputy chairman Saifitdlin Gafarov as saying Tuesday that assets in the oil, gas, energy, metals, agriculture, electronics and pharmaceuticals sectors will be made available for purchase. Privately owned news portal UzReport...

Newsmaker: Usmanov Took Long Road to Become Rich

By Howard Amos / The Moscow Times

... fortune, which he amassed through a myriad of investments from iron ore producers to stakes in Facebook, is currently estimated at more than $18 billion, after it bounced back from $1.6 billion during the 2009 crisis, according to Forbes. After the Uzbek-born tycoon spent six years in prison in the 1980s for extortion, alongside the son of a regional KGB deputy, his first successful business foray was into plastic bag manufacturing. Unlike other modern Russian oligarchs, he did not shoot to fabulous...

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