Kazakhstan’s central bank devalued the tenge by the most since 2009 as reduced bond buying by the U.S. Federal Reserve sparks capital outflows from emerging markets and the currency of its main trading partner weakens.
On a blustery February morning in 2011, Chris Hardman waited anxiously inside a Big Yellow Self Storage center in north London. A banner fastened to the box- shaped building’s facade read “Get some space in your life.” All Hardman wanted to do was see the contents of storage unit E2010.
Kazakhstan, Central Asia’s biggest energy producer, is pushing ahead with plans to sell shares to citizens in initial public offerings, even with the current global market turmoil, Economic Development and Trade Minister Kairat Kelimbetov said.
Kazakhstan plans to sell 5 percent to 10 percent of the shares in major state-owned companies to its citizens through “people’s IPOs” that will start in October, said Economic Development and Trade Minister Kairat Kelimbetov .