Kazakhstan plans to offer its first foreign-currency bonds in a decade next year, joining Russia in seeking to lure back investors as rising energy prices spur the former Soviet region's economic recovery.
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.
Italian aerospace and defense company Finmeccanica has signed a memorandum of understanding with a Kazakhstan sovereign wealth fund for a raft of cooperation deals.
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.
BTA Bank, until recently Kazakhstan’s biggest bank, lost KZT2 trillion ($13.4 billion) in January through September, the bank reported on Thursday.
Kazakhstan’s current account deficit in the first nine months of 2009 totaled $3.4 billion, the National Bank of Kazakhstan reported last week.
