ALMATY, Feb 27 (Reuters) – Kazakhstan will create a new
airline to serve domestic routes and has entered a partnership
agreement with Canada’s Bombardier Inc on delivery of
its first 10 planes, the oil-rich country’s sovereign wealth
fund said on Thursday.
President Nursultan Nazarbayev met Bombardier Chief
Executive Officer Pierre Beaudoin on Wednesday and told him that
the company would perform domestic flights and be called Air
Kazakhstan, the presidential press service said.
ALMATY, Feb 19 (Reuters) – Kazakhstan’s central bank on
Wednesday accused anonymous “provocateurs” of stirring up panic
on the market, still jumpy after last week’s tenge devaluation,
by using social media to trigger a run on deposits at three
The central bank devalued the tenge by 19 percent on Feb. 11
to about 185 per dollar to prevent large-scale foreign exchange
speculation and adjust to a freer rouble float in neighbouring
Russia, Kazakhstan’s main trading partner.
ALMATY, Feb 6 (Reuters) – Kazkommertsbank
(KKB) is to buy rival BTA Bank jointly with
Kazakh businessman Kenes Rakishev for about $1 billion, in a
deal that will shift BTA’s bad debts left over from the
financial crisis into the private sector.
BTA is currently majority-owned by Kazakh sovereign wealth
fund Samruk-Kazyna, which bailed out the bank in 2009 during the
ALMATY, Jan 30 (Reuters) – KCell ,
Kazakhstan’s largest mobile phone operator, has made little
headway in obtaining a licence for a 4G high-speed wireless
network in the booming oil-rich nation, leaving state-controlled
Kazakhtelecom as the only holder of a licence in the country.
Posting a 2.5 percent rise in net profit for 2013, the group
which is controlled by Nordic parent TeliaSonera said
it was continuing talks on a licence to offer 4G services -
which are driving increased mobile data usage in many western
markets – but had not yet been successful.
ALMATY, Jan 23 (Reuters) – Kazakhstan’s Alliance Bank has
set out terms for a second debt restructuring in the wake of the
global financial crisis, saying it aimed to complete
negotiations with investors by June.
The central Asian nation’s ninth-largest lender by assets,
in which sovereign wealth fund Samruk-Kazyna owns 67 percent,
said its latest proposals applied to debts worth around 127.3
billion tenge ($818 million).
MOSCOW (Reuters) – Mikhail Kalashnikov, the Russian designer of the AK-47 assault rifle which has killed more people than any other firearm in the world, died on Monday aged 94, officials said.
Kalashnikov, who was in his 20s when he created the AK-47, died in his home city of Izhevsk near the Ural Mountains, where his gun is still made, a spokesman for the Udmurtia province’s president said on state television.
ALMATY (Reuters) – Turkmenistan’s President Kurbanguly Berdymukhamedov says Sunday’s parliamentary election is a democratic milestone for his gas-rich nation, but critics say it merely slaps a veneer on what they call a repressive autocracy.
The 56-year-old leader wields virtually unlimited power and is officially nicknamed Arkadag, or The Patron, in his mainly Muslim Central Asian state of 5.5 million which holds the world’s fourth largest reserves of natural gas.
MILAN/ALMATY (Reuters) – A pipeline inspection robot is set to join efforts to discover why the biggest new oilfield in decades is crippled and whether materials, construction methods, a design fault or all three are at the root of the problem.
Its arrival at the Kashagan project on the Caspian Sea this week comes after the field’s trouble-strewn 13-year, journey towards commercial production took another twist in September as it delivered its first oil but began leaking toxic gas from a processing pipeline.
MILAN/ALMATY, Nov 14 (Reuters) – A pipeline inspection robot
is set to join efforts to discover why the biggest new oilfield
in decades is crippled and whether materials, construction
methods, a design fault or all three are at the root of the
Its arrival at the Kashagan project on the Caspian Sea this
week comes after the field’s trouble-strewn 13-year, journey
towards commercial production took another twist in September as
it delivered its first oil but began leaking toxic gas from a
DUSHANBE (Reuters) – Tajikistan’s President Imomali Rakhmon has won a new seven-year term after his only serious rival was barred from running, but he faces a hard task ensuring stability in a volatile country that borders Afghanistan.
The Moscow-backed strongman leader, who has run the poorest former Soviet republic since 1992, keeps Tajikistan’s small and disparate opposition in check and civil society is weak. But he must contend with rising social tensions in a Muslim nation where nearly half the 8 million population live in poverty.