Cash Master Ablyazov’s Beautiful Laundrette/II

Cash Master Ablyazov’s Beautiful Laundrette/IIIt is like Doctor Faustus’ pact with Mephistopholes: immediate benefit to be paid for in treacherous longer-term loss. But should the pact, preliminarily agreed upon between the current state-controlled board of BTA Bank, materialise, those who created the current mess will still be in charge of the process getting out of it.

» Read more

Kazakh bankers: jailhouse rock

Kazakh bankers: jailhouse rockOverdue financial reports from Kazakhstan’s troubled banks over the first half year are nonetheless true eye-openers to the general public and judicial investigators alike. As it seems, far less the global financial and subsequent economic slump than massive embezzlements have been behind the cash-drain that has hit the Kazakh banking and finance sector.

» Read more

Kazakhstan’s fragile banking system: will it hold?

Kazakhstan's fragile banking system: will it hold?Four out of seven leading banks in Kazakhstan as of mid-August had still to report to the Almaty Stock Exchange’s supervising board on their results over the first half of the current year. “Preliminary” figures, reported to and divulged by the country’s overall financial watchdog, however, show worse situations in the country’s bruised and battered banking sector than feared.

» Read more

Kazakh private enterprise remains in downward spiral

Kazakh private enterprise remains in downward spiralDelays in proper reporting by Kazakh companies quoted on the Almaty Stock Exchange are rampant – and for a reason. As provisional reports suggest, the effects of state support for private enterprise in the latter’s books remain to be seen, and into the current year more companies have been sliding into worse trouble rather than turning better.

» Read more

Kazakh enterprises remain under scrutiny

Kazakh enterprises remain under scrutinyThose who had pinned their hopes on troubled Kazakh companies getting a facelift in the eyes of the international financial world by government interventions have so far been disappointed.

» Read more

Moody’s unifies Kazakhstan’s government ratings at Baa2, outlook negative

Moody’s Investors Service has downgraded Kazakhstan’s local currency government rating to Baa2 from Baa1, the same as its foreign currency rating, and changed the outlook to negative. The rating action reflects continuing fragility in the Kazakh banking system because of its large short-term foreign currency debt obligations.

» Read more
1 41 42 43 44