Umirzak Shukeyev News
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Kazakhstan’s President Nursultan Nazarbayev ordered the sale of state stakes in BTA Bank, Alliance Bank and Temirbank in 2013.
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State-run BTA Bank remains in a “zone of turbulence” as bad-loan recovery was less than expected, Kommersant reported, citing an interview with Umirzak Shukeyev, head of Kazakhstan’s sovereign-wealth fund.
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Kazakh officials gave striking oil workers one week to accept job offers arranged by the government in a bid to subdue the worst unrest since the former Soviet republic won independence two decades ago.
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BTA Bank has access to about 40 billion tenge ($271 million) of funding via repurchase transactions with the central bank as inflows of corporate and household deposits resumed, said BTA Chairman Anvar Saidenov.
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Kazakhstan’s sovereign wellbeing fund Samruk-Kazyna said it will support BTA Bank’s proposed debt restructuring and the situation at the lender will be stabilized, according to Umirzak Shukeyev, who heads the fund.
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Kazakhstan’s sovereign-wealth fund ordered BTA Bank, which is seeking a second debt restructuring in as many years, to sell construction assets as part of an initiative to make state-controlled companies more efficient.
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Kazakh Prime Minister Karim Massimov was reaffirmed at a parliamentary confidence vote today in the capital, Astana.
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Kazakh opposition groups warned unrest may spread after at least 15 people died in riots that followed Independence Day celebrations in the Central Asian country’s oil-producing province.
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Kazakhstan’s sovereign wealth fund Samruk-Kazyna named Yelena Bakhmutova, the former head of the State Agency for Financial Supervision, deputy chief executive officer.
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Kazakh President Nursultan Nazarbayev told government and central bank officials to steady BTA Bank and Alliance Bank, two of the defaulted lenders brought under state control in 2009.
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