Hard times need hard labor laws. At least that is what Kazakhstan has decided. This week, President Nursultan Nazarbayev signed off on legislation that stacks the cards more strongly in favor of employers.
Central Asian countries (CACs), consisting of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, are not yet key export markets or investment destinations for Hong Kong companies, but they are playing an increasingly pivotal role in the China-Central Asia-West Asia Economic Corridor.
Kazakhstan launched property and capital legalisation campaigns in September 2014 that are scheduled to run until Dec. 31, 2015. The campaigns include the approval of a law “On amnesty of Kazakhstan citizens, oralmans (repatriated ethnic Kazakhs) and permanent residence holders in relation to legalisation of their property.”
China will be keeping a close eye on its energy interests in Central Asia as Russia reinforces the borders of the Commonwealth of Independent States (CIS) against external threats.
A significant devaluation of Kazakhstan's the national currency tenge over the last months resulted from the country's high dependence on oil revenues, according to European experts.
It’s unclear that Astana can match big ambitions with the reality of an underdeveloped bureaucracy.
In Texas or the North Sea, oil companies struggling with falling prices are firing thousands of employees. In Kazakhstan, it is not so simple.
Continuing a discussion on the role of money-laundering and the housing bubble. LA Biz Journal. “Economists at UCLA Anderson School of Management foresee healthy growth for the nation’s economy over the next two years, but California will likely experience a slowdown in employment growth. In another essay, Economist William Yu looks at the turmoil in China’s economy and the potential implications for Los Angeles’ economy. Yu says that China’s economy is more volatile than suggested by official numbers and its economy, housing market, stock market, and currency are all in trouble.”
Emerging markets, once the world’s great economic hope, could see the good times end as Beijing falters. We look at which countries are most vulnerable to the 21st century’s next financial crisis
“At the end of the day, most of the oil-producing countries will go into the free floating regime,” including Saudi Arabia and the United Arab Emirates, Karim Massimov said in an interview on Saturday in the capital, Astana. “I do not think that for the next three to five, maybe seven years, the price for commodities will come back to the level that it used to be at in 2014.”
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