Economy

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BTA submits restructuring plan to FSA

BTA Bank has reportedly submitted its restructuring plan to Kazakhstan’s Financial Supervision Agency (FSA) on Friday, the bank said without providing further details. The FSA confirmed the receipt of the plan.

 

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Central Asia’s biggest mall opens in Almaty

International retailers have been slow to come to Kazakhstan, but that is set to change with the opening of Central Asia’s largest mall in mid-September.

 

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Wealth Gap Widening in Kazakhstan

Despite its mineral-led economic boom, the Central Asian nation's development agenda is inchoate—leaving most of the benefits to cities like Astana and Almaty

 

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Kazakhstan ready to sacrifice growth for stability

Kazakhstan, one of the early victims of the global crisis, is ready to sacrifice future growth rates in favour of stability and will likely keep tight state control over the economy as it recovers.

 

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BTA to reduce debt by $8 billion with restructuring

Kazakhstan’s largest bank, BTA, presented a restructuring proposal to investors last week that would allow it to cut its $10.3 billion debt by $8 billion to avoid bankruptcy.

 

 

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Kazakh BTA Bank Sues for Millions, Gets Boxer Shorts in

altLawsuits filed by state-controlled BTA Bank, Kazakhstan’s largest lender, to recover 917 million tenge ($6 million) from a newspaper and a charity have so far yielded nothing but seven pairs of boxer shorts.

 

 

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Foreign investors remain sceptical about Kazakhstan

Kazakhstan-focused funds suffered big losses over the past year. But even with stock prices now rebounding, it’s proving difficult to attract international investors, who remain sceptical about the country’s prospects.

 

 

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British court orders freeze on BTA ex-chairman’s assets

altThe English High Court has granted a worldwide injunction to freeze the assets of former BTA Bank chairman Mukhtar Ablyazov and other former top managers, according a BTA press release.

 

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Caspian oilfield is Big Oil's new energy frontier

Face wrapped in a thick scarf against clouds of blinding dust, the electrician gazed at a maze of pipes and pumps teeming with 15,000 workers and said his work was like building the Tower of Babel.

 

 

 

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Alliance Bank: Clear as mud

Former CEO of Alliance Bank and Eurasian Bank Zhomart Yertayev and his deputy Aleksei Ageyev have been arrested last weekend in connection with several deals sealed during their tenure at Alliance, the KazTAG news agency reported on Monday.

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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