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Kazakhstan’s banks merger: a remedy or a pain killer?

ALMATY (TCA) — Recently a minor-scale bank in Kazakhstan named KazInvest ran aground. Now, another one, Delta Bank, is moving towards the brink of bankruptcy. Yet another “junior”, Temirbank, formerly owned by BTA and now controlled by Fortebank, recently defaulted on its coupon repayment schedule as well. In 2016, Temirbank posted a net income of 10.875 billion tenge which turned into a net loss of 4.41134 billion for the full year during the last quarter. During the last three months, equity capital dwindled from 54.5 billion to 39.2 billion tenge. Current asset par value stands close to 357 billion tenge, but it remains unclear what the percentage of exposed assets within that amount is. Continue reading

8 years ago

Kyrgyzstan Turkmenistan Kazakhstan Central Asia Terrorism Security Islamic State Afghanistan Uzbekistan Taliban

Terrorism: the Afghan war redrawing Central Asia ‘Silk Route of Terror’ (part 2)

LONDON (TCA) — Some attempts have been made to draft a rough sketch of the “Silk Route of Terror” but mapping it proves a bit hard. Besides, that map could fundamentally change if somehow the Afghan government manages to forge a compromise with the Taliban rebels. Presently there are two itineraries for Central Asian would-be terrorists. Either they move from their home country in Central Asia to Turkey, from there to Syria or Iraq, then to Afghanistan and back home enriched by experience and evil plans, or from Central Asia they pass into Afghanistan, from there to the Near-East battleground and back, through Turkey or directly. In both cases, the significance of Afghanistan as a transit hub and training ground is on the rise. Continue reading

8 years ago

Security Kyrgyzstan Tajikistan Kazakhstan Central Asia China Terrorism Islamic State Xinjiang

Terrorism: the ‘forgotten dimensions’ of jihadism in Central Asia, China (part 1)

LONDON (TCA) — Are the governments of Central Asia’s post-Soviet republics taking effective action to root out the phantom of terrorism lurking in all corners of the region? The awkward question was carefully avoided during the latest peace talks on Syria in Astana. Fact remains, however, that thousands of nationals of Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and (most of all) Uzbekistan are “fighting” in Syria and northern Iraq. In the meantime a rather large number of them are also spreading over the world to replace terrorists originating from the Near-East to spread new waves of havoc, while others “bring terror home” by returning to their countries of origin ready to carry out attacks on their own communities. However, so far nobody has properly mapped the overall situation. Continue reading

8 years ago

US Turkey Islamic State Astana Syria Diplomacy Opposition Kazakhstan Russia

Kazakhstan: outcome of Syria talks in Astana

BISHKEK (TCA) — Is Astana going to become a regular meeting point for squabbling parties in troubled corners of the world, shooting it out at home but inclined to compromise to spare lives and economies? The results of the talks on the situation in Syria, which ended with mostly a confirmation of the status quo excluding any outlook of a longer-term political situation in Syria, are an ambiguous indication of such a prospect. UN Special Envoy for Syria, Staffan de Mistura was quoted as stating: "Kazakhstan, under the leadership of President (Nursultan) Nazarbayev, has provided a remarkable contribution to our efforts to push for peace in Syria." Continue reading

8 years ago

Russia US Kazakhstan Turkey Terrorism Islamic State Astana Syria Opposition

Syria talks in Kazakhstan: a possible breakthrough

LONDON (TCA) — What is at stake at the upcoming negotiations in Astana between the parties involved in the terrible civil war in Syria? The fact that the Syrian government and most (though not all) of the so-called moderate opposition have promised to be present means little. Those “moderate” groups are in fact armed militias grouped around political chiefs after the notorious model of Lebanon during its 16-year civil war. Iran, Turkey, Russia and most European states appear to be willing to live with that. Two wildcards remain: the USA and Saudi Arabia. Continue reading

8 years ago