Kazakhstan may limit foreign ownership of banks and other financial companies to reduce the risk of a credit crunch, central bank chairman Grigoriy Marchenko said on Tuesday.
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Italian aerospace and defense company Finmeccanica has signed a memorandum of understanding with a Kazakhstan sovereign wealth fund for a raft of cooperation deals.
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According to Mr Duysenbay Turganov deputy minister of energy and mineral resources of Kazakhstan in 2009 Kazakhstan will reduce its coal output by about 12 million tonnes YoY to around 93 million tonne.
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Stephen Brown
Italy's Silvio Berlusconi praised the virility of Kazakhstan's men during a visit to Rome by its president, Nursultan Nazarbayev, saying this was the reason for the former Soviet country's population growth.
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BTA Bank, until recently Kazakhstan’s biggest bank, lost KZT2 trillion ($13.4 billion) in January through September, the bank reported on Thursday.
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Kazakhstan’s current account deficit in the first nine months of 2009 totaled $3.4 billion, the National Bank of Kazakhstan reported last week.
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By Guy Dinmore in Rome
Italy's Eni group and Kazakhstan's London-listed KazMunaiGas last night signed a preliminary agreement that could result in up to $50bn of investments in the central Asian state's upstream and downstream oil and gas sectors.
