Kazakhstan

Kazakh c bank says expects rating upgrade

KAZAKHSTAN - Kazakhstan's central bank said on Wednesday it expected the country's sovereign credit rating to be upgraded this year and to reach investment rating level next year, paving the way for large scale portfolio investment, reports Reuters.

Kazakh president praises central bank chief

KAZAKHSTAN - President of Kazakhstan Nursultan Nazarbayev has sharply criticized national companies. "National companies have turned into feudal principalities and their leaders into princelings," Nazarbayev told the Cabinet on Thursday. But the…

Kazakh MPs call for c bank no-confidence vote

KAZAKHSTAN - Source Khabar Television. [Presenter] At a plenary sitting of the Majlis [lower house of Kazakh parliament] today, deputies proposed a no-confidence motion against the chairman of the National Bank of Kazakhstan, Grigoriy Marchenko.

Kazakh bank boss cuts beard as deposits top $1 bln

KAZAKHSTAN - Kazakh central bank boss Grigory Marchenko shaved off his beard on Wednesday, 5 September, - fulfilling a vow to sacrifice his whiskers once private deposits in Kazakh banks topped $1 billion, Reuters reports from Almaty.

Kazakh currency expected to devalue 5% in 2001

Kazakhstan's currency, the tenge, will not devalue by more than 5-6% this year, National Bank head Grigory Marchenko told Interfax news agency. He said that Inflation is targeted to drop to 6-8% this year from 9.8% in 2000. The central bank will be able…

Kazakh say close to building stable banking sector

Kazakhstan's central bank said on Feb. 7, 2001 the central asian state would finalise the creation of a stable and transparent banking system this year which would boost confidence among private depositors and foreign investors. Deputy National Bank…

Kazakhs give details of new strategic oil fund

Kazakh President Nursultan Nazarbayev on Jan. 31 issued a decree setting out details of a special fund to make his resource-rich nation less exposed to changing prices for energy and commodities exports. The official Kazakhstanskaya Pravda newspaper said…

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