ALMATY (Reuters) – With his biggest prize escaping his grasp in Ukraine, Vladimir Putin is likely to turn to the autocrats of Central Asia, particularly Kazakhstan’s Nursultan Nazarbayev, to further his aim of erecting a Eurasian Union of former Soviet states.
The Russian president’s swift annexation of Crimea has earned him huge popularity at home but ends his dream for now of bringing the rest of Ukraine voluntarily into the new structure he plans to build on as much as possible of the ex-Soviet space.
ALMATY, March 18 (Reuters) – A consortium developing
Kazakhstan’s huge Kashagan oilfield said it had appealed a 134.2
billion tenge ($737 million) fine by a regional Kazakh authority
for ecological damage at the site in the Caspian Sea.
The fine adds to the woes of the multinational group, which
has already spent about $50 billion after numerous delays.
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.