The creditors of Alliance Bank, Kazakhstan's second-largest lender to default this year, voted to approve a plan to restructure KZT677 billion ($4.5 billion) of debt.
Economy
BG Group and Eni, the two oil companies operating the giant Karachaganak gas condensate field in western Kazakhstan, are in talks to sell a stake in the project to the Kazakh government, Bloomberg reported on Friday.
By Karin Matussek
With 9 Million Euros... To win orders linked to the country's gas pipeline
PETER LEONARD
China, Kazakhstan unveil natural gas route tapping into Central Asia's energy riches
Stephen King
In recessions past, the Western economies exported their problems to countries elsewhere in the world. As the US and European economies tripped up, so their demand for raw materials would drop. Commodity prices would plunge. Raw materials producers, mostly to be found in the emerging world, would suddenly find themselves in trouble. Their export earnings would spiral downward, leaving them unable to repay past debts. Currency collapse and debt default typically followed shortly afterwards.
by Olzhas Auyezov
Kazakh uranium output growth is likely to moderate due to technological and economic considerations as it is set to become the world's largest producer this year.
BTA Bank, Kazakhstan's embattled lender, has reached a deal to restructure its $11.6-billion debt on December 7, the bank said in a statement.
By Stefan Wagstyl
Companies from Kazakhstan plan to move part of their fundraising away from London, according to the country's central bank governor, because UK investors failed to stand by the central Asian state during the financial crisis.
Kazakhstan's Kazmunaigas and Uzbekistan's Uzbekneftegas appear in the Top 50 for the first time.
PETER LEONARD
Central Asia braces for shortages as Uzbekistan plans to pull out of electricity grid
Experts of the Committee against Torture Commend Kazakhstan for Enhanced Legislation
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Kazakh official: Not the time to resolve differences through war
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