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ALMATY (TCA) — State officials in oil crisis-hit Kazakhstan have discovered a $20 billion hole on the balance sheet of the National Wealth Fund. Should the state funds be spent this way on, the state coffers will be empty before the end of this decade. A political crisis is looming. In a move to avoid it, the Parliament has applied for snap elections to be held as early as March this year. Continue reading
BISHKEK (TCA) — Chinese investors show the strongest dynamics of foreign direct investment (FDI) in the Eurasian Economic Union (EEU) countries (Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia). Between 2008 and 2014, China's FDI stock in the region more than doubled, from $11 billion to $27.1 billion. Over the same period, Japanese FDI reached $14.4 billion and South Korean FDI reached $1.9 billion, according to the report “EEU and Eurasia: Monitoring and Analysis of Direct Investments”, prepared by Eurasian Development Bank's (EDB) Centre for Integration Studies. Continue reading
ALMATY (TCA) — Kazakhstan’s chief banker has said the National Bank of Kazakhstan is not planning any restrictions on operations with cash foreign currency in the country, Novosti-Kazakhstan news agency reported. Continue reading
ASTANA (TCA) — Entrepreneurs from Uzbekistan are interested in growing fruit orchards in southern Kazakhstan, Novosti-Kazakhstan news agency reported citing Nurzhan Altayev, deputy chairman of the National Chamber of Entrepreneurs of Kazakhstan. Continue reading
ASTANA (TCA) — US retail chain Wal-Mart has shown interest in ecologically clean food products from Kazakhstan, Novosti-Kazakhstan news agency reported citing Nurzhan Altayev, deputy chairman of the National Chamber of Entrepreneurs of Kazakhstan. Continue reading
ASTANA (TCA) — Kazakhstan President Nursultan Nazarbayev on January 20 dissolved the lower chamber of the Kazakh parliament, the Mazhilis, and set the early parliamentary elections for March 20. Continue reading
