Economy

British court orders freeze on BTA ex-chairman’s assets

altThe English High Court has granted a worldwide injunction to freeze the assets of former BTA Bank chairman Mukhtar Ablyazov and other former top managers, according a BTA press release.

 

Caspian oilfield is Big Oil's new energy frontier

Face wrapped in a thick scarf against clouds of blinding dust, the electrician gazed at a maze of pipes and pumps teeming with 15,000 workers and said his work was like building the Tower of Babel.

 

 

 

Alliance Bank: Clear as mud

Former CEO of Alliance Bank and Eurasian Bank Zhomart Yertayev and his deputy Aleksei Ageyev have been arrested last weekend in connection with several deals sealed during their tenure at Alliance, the KazTAG news agency reported on Monday.

Interview: KazInvestBank CEO calls Kazakh bank system dysfunctional

Official data on non-performing loans is only the tip of the iceberg and drastic action is needed to stop the mountains of debt from dragging Kazakhstan’s economy into a lengthy recession, warns KazInvestBank’s chief executive, Adnan Ally Agha.

 

Kazakh Stocks Fall Most in a Month on Copper, Oil Price Drop

Kazakhstan’s stocks declined the most in almost a month, led by commodity producers, as the price of copper sank and oil dropped to a two-week low.

 

Banking associations appeal for trade finance debt to be excluded from restructuring

Two international banking industry associations appealed to Kazakh President Nursultan Nazarbayev to ensure that Kazakhstan’s troubled banks exclude trade finance debt from restructuring, Reuters reported on Friday.

 

Kazakhstan’s BTA Bank First-Half Losses Swelled to $9.9 Billion

BTA Bank, Kazakhstan’s largest lender by assets, saw losses expand to 1.5 trillion tenge ($9.9 billion) in the first half, the country’s financial regulator said, citing preliminary data.

 

Kazakhstan: Restructuring may reveal emperor’s new clothes

Bad debts rise to new highs; Investors tire of mounting problems

 

ENRC Withdraws From $910 Million China Rail Project

Eurasian Natural Resources Corp., a maker of ferroalloys and iron ore in Kazakhstan, pulled out of a $910 million rail project to connect its plants to China after failing to reach an agreement with the central Asian nation.

 

Kazakhstan's uranium boss ill in detention.

Kazakhstan's most prominent uranium industry figure, whose arrest has alarmed foreign investors in Central Asia's biggest economy, is in poor health and requires urgent medical attention, his wife said on Friday.

 

Kazakhstan: Nervous authorities keep election observers at arm’s length

Kazakhstan: Nervous authorities keep election observers at arm’s length

More details
Central Asian Economies: Thirty Years After Dissolution of the Soviet Union

Central Asian Economies: Thirty Years After Dissolution of the Soviet Union

More details
Europe’s weak protections for refugees leave Central Asian dissidents at extreme risk

Europe’s weak protections for refugees leave Central Asian dissidents at extreme risk

More details