Kazakhstan’s financial police said a former Atyrau regional governor, Bergei Ryskaliyev, and his associates committed crimes that caused 71 billion tenge ($459 million) in damages to the state and individuals.
In August, Russian President Vladimir Putin flew to the Black Sea resort of Sochi, where his country is spending a record $48 billion on the 2014 Winter Olympics. A regular visitor, with an official residence in town, Putin watched mixed-martial-arts contests at Oblaka nightclub with Russian Prime Minister Dmitry Medvedev and Kazakh President Nursultan Nazarbayev.
When Bulat Utemuratov’s boss told him to go to Europe and open the first trading house for their newly independent Kazakhstan, his reaction was pure Soviet. “Oh no, They want to exile me,” Utemuratov remembers thinking with alarm.
Kazakhstan’s sovereign wealth fund Samruk-Kazyna said it’s scrapping a planned acquisition of three pension funds controlled by commercial lenders after Halyk Bank halted talks on buying the government’s shares in BTA Bank.
Kazakh President Nursultan Nazarbayev named his deputy chief of staff as finance minister and deputy premier after faulting the government for its shortcomings on spending policy and fighting the shadow economy.