Best of Budapest

Smash Hits & Slam Dunks

Currency Conundrum

Going Up?

Employee Spotlight

When Move One opened its office in Tashkent expectations were high but tempered by a realization that the difficulty of doing business in Central Asia would be an obstacle to quick growth.

Tashkent Airport

All the more satisfying it must be then for the Uzbekistan office to be named the largest client of the Tashkent Airport by the airport's authorities. Working in tandem with its sister-company AES Cargo, Move One overtook the top spot by moving 132,236 kg of shipments through the airport for various clients during May. With so many shipments coming and going it was hard not to get noticed. "The customs officers actually joke that they are employed there because of us," remarked the Sarah Tatrallyay, Manager of the AES Group's Uzbekistan operations. Congratulations and continued future success to all of Move One's Uzbekistan staff, both past and present.

For the sixth year running, Move One International Movers has been voted "Best Moving Company" by Budapest's expat community at the annual "Best of Budapest" awards ceremony.

Each year, members of the expat community cast their votes for companies that provide the highest-quality service to their customers in a number of different areas. Move One is grateful to once again receive this award in recognition of our "customer comes first" approach to business. We aspire to continue to provide clients with the most reliable, professional, and competitive service possible.

Over the month of June, with a little help from AES Cargo (Move One's sister-company), music lovers in Central Europe will be able to catch the Harlem Globetrotters sing their latest hits while sports fans can marvel at the high flying slam-dunk antics of Elton John. Or should that be the other way around?

Air Elton - More than your average rock star

Forgive us, as you know, life moves fast in the cargo business and sometimes the job orders tend to blend into one another. Particularly when we're lending a hand to our partner, Rock-It Cargo Ltd., the entertainment industry's preferred choice for tour planning and logistics. Their client base amounts to a dizzying list of rock stars, world-class athletes, touring circuses, and symphony orchestras. If it's an international tour of any kind, it's a safe bet that Rock-It Cargo is involved.

And when Rock-It Cargo's clients are touring through Central and Eastern Europe, they call on AES Cargo to handle the on-the-ground logistics work. AES has assisted with a number of other shows that have visited the region, including U2's 1997 concert in Sarajevo. For Elton John's upcoming tour stops in Bucharest (June 21) and Budapest (June 22) AES is handling the unloading and loading of the AN12 charter that is carrying circa 10-12,000 kg. of Sir Elton's musical equipment. AES provided similar services for the Harlem Globetrotters' stops in Hungary earlier this month.

Much has been made in the international business press about the recent weakening of the U.S. dollar. And with good reason - the USD has dropped 30% against the Euro over the past six months.

Not that this is an indication of how the greenback is faring against other currencies. In Iraq the USD plummeted by 50% overnight in Iraq, a result of the United States government shipping large quantities of dollars into the country to finance the salaries of Iraqi civil servants. On the other hand, after months of tumbling in Hungary (Move One's international headquarters), the dollar's recently staged a comeback against the forint as the Hungarian Central Bank pursues a policy of devaluation.

Needless to say, these fast-paced, up-and-down changes on the currency markets make life difficult for Move One's finance department. To simplify things for our customers the finance department tries to chart and anticipate how currencies match up against one another across the globe. With the majority of our customers requesting quotes in USD, and in light of the greenback's fickle nature of late, this is no small order.

However, that being said, dealing with instability in global currency markets is old hat for our finance team. In this respect, Move One's years of experience in Central Asia has been a useful training ground. One major hurdle is the fact that in most Central Asian economies it is often illegal to pay in USD or Euros. Since no international currency is universally accepted across the region, Move One's truckers have to be prepared to pay duties and taxes in the currencies of every country they traverse. In some cases, shipments to the region can cross up to 5 borders so planning ahead is essential.

Of course, Central Asia is no stranger to devaluation either. All of the Central Asian economies experienced major devaluation periods during their first decade of post-Soviet existence. Here too, devaluation occurred virtually overnight. All of a sudden, a bank note that could once buy you a night on the town couldn't cover the cost of a coffee the following day.

The awkward aspect of the devaluation is the fact that enormous amounts of paper money are now required to pay for even the smallest purchase. As Move One's Managing Director, Curt Clements, points out, Central Asian societies have developed unique ways of handling payments. "When you ask for the bill in a restaurant in Uzbekistan the waiter will bring you a large wooden box which you fill according to how much you owe. Basically, you pay by weight!"

Needless to say, the whole payment process becomes significantly more complicated when paying for an air charter in cash. Such transactions are better suited for a wooden crate rather than a mere box.

Gold teeth: Like money in the bank

Informed by our Central Asian experience, tackling the current up-and-down nature of the USD is nothing new. However, it does prompt us to remind our clients and partners that quotes and rates can be more susceptible to change under these conditions. Furthermore, if a quote is taking longer than you might expect it's likely that our finance department is simply working on providing you with the most accurate quote possible.

The lack of a 'safe haven' currency in today's markets has prompted some Move One employees to consider evasive measures. Indeed, one staff member recently joked that Move One should pay greater attention to one of the more peculiar banking practices in Central Asian. Their solution? Invest in gold - gold teeth that is. Now that's putting your money where your mouth is.

As office manager for AES Cargo's easternmost outpost, Sabina's interaction with our Budapest headquarters' staff is mostly limited to corresponding by email or conversing over a distorted phone line. That all changed this spring as Sabina arrived in Budapest for a training session along with the other new additions to AES Cargo's Central Asian staff.

Sabina Sokolova

Sabina's background is yet another indication of the highly multicultural makeup of AES Cargo's staff. Born in Kyrgyzstan (at the time a part of the Soviet Union), Sabina identifies herself as Buryat, a small ethnic group with its roots in Siberia. Having studied foreign languages at Buryat State University, Sabina derives a great deal of pride from her national identity. She also feels strong links with her Kyrgyz homeland.

It's a homeland that is currently undergoing a tremendous amount of change at an unprecedented rate. "More and more foreigners are coming to live and work in Bishkek. Of course, we have had to adjust to this but overall the changes have been very positive. I feel there is a future here which is important as it's where I grew up and where I want my family to grow up."

Family is a word that's on Sabina's mind a lot lately. Having married her high-school sweetheart two years ago, Sabina and her husband are now expecting their first child in August.

However, it doesn't appear Sabina is willing to let motherhood slow her down. "My main hobby is work - it's something I'm always applying myself to. We've made good progress since the Bishkek office opened but we need to keep the intensity high to ensure that our office continues to grow."