(bne) - Kazakhstan used to be an expensive proposition for international banks, but with their local rivals under pressure following the global liquidity squeeze, these banks have found changed circumstances.
(bne) - Picture Astana’s right bank in 2012. Alongside the Baiterek tower and the blue-domed presidential palace, there will be a new landmark: the Abu Dhabi Palace. This huge complex was inspired by Kazakhstan’s economic growth, designed by renowned British architect Norman Foster, and funded from the United Arab Emirates.
(EurasiaNet) - A three-sided diplomatic scrum is intensifying in Central Asia, as US, Russian and Chinese officials are stepping up efforts to wring energy-export deals from regional leaders.
Today is the time of the Kazakh consumer, according to Eldar Abdrazakov, chief executive of Centras Capital. Almaty-based Centras is about to make the first investment from its buyout fund, through which it plans to benefit from this growing phenomenon.
After more than a year of often-tense negotiations, the Kazakh government is due to finalise an agreement with the consortium developing the enormous Kashagan oilfield in September.
As the nuclear industry enjoys a global revival, Kazatomprom is positioning itself to overtake Cameco as the world’s largest producer of uranium. It said in July that it expects to achieve this as early as next year, rather than in 2010 as originally planned.
Unlike in most emerging economies, Kazakhstan’s banking sector has so far remained largely in local hands. However, recent acquisitions of local lenders by European and Asian banks suggest that the trend is changing.
With a long-standing share dispute now nearing resolution, UniCredit is preparing to start rebranding and growing Kazakhstan’s ATF Bank, its Central Asian acquisition.
KMG E&P, the flagship oil firm of Kazakhstan, represents a strong long term buy at the current market capitalization of $US12Bn.
Private sector involvement in the development of the infrastructure sector is a key objective for the Kazakh government in its quest to create a network of roads and reilways and become an important link in the transfer of goods and resources between China and Europe.