Economy

Ex-Soviet Turkmenistan's strongman leader broke ground on a new and presently nameless city close to the capital Ashgabat Wednesday.

Kazakhstan has lots of oil, but it’s hard to reach and doesn’t fetch the best prices. We explain.

Before China began courting Southeast Asia with infrastructure investments through its Belt and Road Initiative, Japan was the region's top development financier.

On a windswept steppe in southwestern Kazakhstan, the new Chinese-backed cement plant on the outskirts of the village of Shieli stands as a gleaming symbol to some of the Central Asian country's industrialisation.

No firm date has been set for the IPO, however

Royal Dutch Shell Plc dropped plans to purchase a stake in KazMunayGas National Co. after a due diligence process that included discussions about the risk of corruption at the Kazakh state oil company, people with knowledge of the matter said.

With the outlines of its six idle cranes obscured by thick fog and pouring rain, Kazakhstan's Caspian seaport Aktau seems an unlikely stop on China's much-hyped new silk road.

Seeking to attract more foreign investment from its prime position in China's huge Belt and Road trade project, Kazakhstan launched a new financial hub on Thursday which has already secured the backing of its giant neighbour.

Political uncertainty and over-reliance on external borrowing make the country more vulnerable than lower-rated sovereigns.