Economy

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Interview: KazInvestBank CEO calls Kazakh bank system dysfunctional

Official data on non-performing loans is only the tip of the iceberg and drastic action is needed to stop the mountains of debt from dragging Kazakhstan’s economy into a lengthy recession, warns KazInvestBank’s chief executive, Adnan Ally Agha.

 

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Kazakh Stocks Fall Most in a Month on Copper, Oil Price Drop

Kazakhstan’s stocks declined the most in almost a month, led by commodity producers, as the price of copper sank and oil dropped to a two-week low.

 

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Banking associations appeal for trade finance debt to be excluded from restructuring

Two international banking industry associations appealed to Kazakh President Nursultan Nazarbayev to ensure that Kazakhstan’s troubled banks exclude trade finance debt from restructuring, Reuters reported on Friday.

 

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Kazakhstan’s BTA Bank First-Half Losses Swelled to $9.9 Billion

BTA Bank, Kazakhstan’s largest lender by assets, saw losses expand to 1.5 trillion tenge ($9.9 billion) in the first half, the country’s financial regulator said, citing preliminary data.

 

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Kazakhstan: Restructuring may reveal emperor’s new clothes

Bad debts rise to new highs; Investors tire of mounting problems

 

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ENRC Withdraws From $910 Million China Rail Project

Eurasian Natural Resources Corp., a maker of ferroalloys and iron ore in Kazakhstan, pulled out of a $910 million rail project to connect its plants to China after failing to reach an agreement with the central Asian nation.

 

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Kazakhstan's uranium boss ill in detention.

Kazakhstan's most prominent uranium industry figure, whose arrest has alarmed foreign investors in Central Asia's biggest economy, is in poor health and requires urgent medical attention, his wife said on Friday.

 

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S&P downgrades Kazakhstan’s banking sector

Standard & Poor’s Ratings Services said on Wednesday it revised downward to Group 9 from Group 8 its Banking Industry Country Risk Assessment (BICRA) on the Republic of Kazakhstan (foreign currency rating BBB-/Stable/A-3, local currency rating BBB/Stable/A-3).
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Kazakh’s BTA Bank Says It May Take Years to Recover Its Assets

BTA Bank, Kazakhstan’s largest lender, said it may take years to recover some of its assets after previous management fled.
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BTA Bank projects up to 97 percent creditor losses

Uncertainty around the bank’s financial situation and the lack of progress in negotiating a restructuring agreement.

Experts of the Committee against Torture Commend Kazakhstan for Enhanced Legislation

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

Kazakh official: Not the time to resolve differences through war

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Oil majors sued by Kazakh government over billions in revenue

Oil majors sued by Kazakh government over billions in revenue

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