Turkmenistan has signed a landmark deal granting Caspian Sea gas exploration and extraction rights to a member of the Nabucco pipeline consortium, state media reported.

Astana, the capital of Kazakhstan, lies thousands of miles from London’s trading rooms – let alone the political lobbyists in Washington. This summer, however, Grigori Marchenko, the Kazakh central bank governor, has reason to follow the US and UK debate about the future of credit derivatives with particular interest.

ATF Bank, a unit of UniCredit SpA, dismissed accusations from the central bank that managers may have contributed to speculation of a devaluation in the tenge by advising clients to buy dollars.