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Tag: uzbekistan
Mixed feedback on cotton harvest labour in Uzbekistan
2015-11-24 13:21:00| Daily apparel & textile news and comment - from just-style.com
Monitoring of workers during the 2015 cotton harvest in Uzbekistan has offered a mixed assessment, with no systematic use of child labour found but "serious concerns" raised over the risk of forced labour.
Tags: feedback
mixed
cotton
labour
Vimpelcom posts USD 1 bln loss in Q3 on Uzbekistan provision
2015-11-06 09:06:00| Telecompaper Headlines
(Telecompaper) Vimpelcom reported a net loss of USD 1.005 billion for the third quarter, versus a profit of USD 105 million a year earlier, due to a provision of USD 900 million for possible damages from the pending investigation into its Uzbekistan activities. Underlying results were also under pressure from negative currency effects and difficult economic conditions in some of the Russian company's markets. Revenues fell 31 percent to USD 2.442 billion, and EBITDA was down 96 percent to USD 58 million. On an organic basis excluding currency effects, Vimpelcom said revenues were up 2 percent, while EBITDA excluding one-time items was down just 1 percent. The new CEO Jean-Yves Charlier said the company was sticking to its financial targets as the transformation programme started earlier this year makes progress. The company will give more details on its strategy at the full-year results penetration next year, he said. For 2015, Vimpelcom forecasts service revenue flat to a single-digit decline, the underlying EBITDA margin flat to minus 1 percent point, and capital expenditure excluding licence fees at 18-20 percent of revenue. In the first nine months of the year, service revenue was flat, the underlying EBITDA margin fell 1.2 percent points to 41.3 percent, and capital expenditure nearly halved to USD 1.137 billion, or 15.5 percent of revenue. Operating cash flow in the nine months was down 23 percent year-on-year to USD 1.887 billion, but Vimpelcom said it will pay a dividend of USD 0.035 per share in December.
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loss
usd
provision
Ex-Vimpelcom CEO arrested in Uzbekistan probe
2015-11-06 01:00:00| Total Telecom industry news
Jo Lunder held by Norwegian authorities on suspicion of corruption.
Tags: ceo
probe
uzbekistan
arrested
Telenor worried as Vimpelcom makes $900m Uzbekistan provision
2015-11-03 01:00:00| Total Telecom industry news
Russian company says it cannot be certain of outcome or final cost of ongoing corruption probe.
Tags: makes
provision
uzbekistan
worried
Uzbekistan - ISA Country Report
2015-11-02 01:00:00| Apparel & textile industry market research - from just-style.com
This report contains detailed forecasts and analysis for Uzbekistan, including trade and investment analysis, economic forecasts, political risk assessments and demographic trend analysis.
Tags: report
country
uzbekistan
isa
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