Trade hardly can be called a locomotive of Kazakhstani economics, because main money in the country is from oil and metals. However, trade is a back bone of social well-being, because 25 to 28 per cent of economically active population, by analysts' estimate, is engaged in it. Nowadays the trade sphere suffers hard times.
China will soon reach an agreement to receive nuclear power assistance from Kazakhstan, a source told China Daily.
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.
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.
China, Kazakhstan unveil natural gas route tapping into Central Asia's energy riches
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.
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.
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.
