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British MP chairs Kazakhstan company Sir Tony Baldry was elected new chairman of Kazakhstan paper producer Kagazy Plc.

09 August 2013

US sues Bank of America for fraud over mortgage bonds The US government on Tuesday sued Bank of America for defrauding investors in the sale of $850 million in mortgage-backed securities ahead of the housing bust.

08 August 2013

Airbus complaint against Boeing ad dismissed Boeing did not mislead readers of a trade magazine when touting the advantages of its 747-8 jumbo jet over rival Airbus' A380 model.

08 August 2013

South Korean businessmen rally for reopening of Kaesong Hundreds of S. Korean businessmen rallied Wednesday near the border with N. Korea, urging the swift resumption of operations at their abandoned plants in a shuttered inter-Korean industrial zone.

07 August 2013

China fines baby formula firms $108 million for price-fixing: Xinhua China has fined six mostly foreign baby formula companies a total of $108 million for price-fixing.

07 August 2013

Amazon's Bezos buys Washington Post for $250 mn The Washington Post, the legendary newspaper that broke the Watergate scandal, is being sold to Amazon founder Jeff Bezos as it seeks to survive the onslaught of the Internet.

06 August 2013

Virgin Australia expects loss of $98 mln for year Virgin Australia said Monday it was expecting a full-year loss of Aus$95-$110 million (US$84-98 million).

05 August 2013

New York Times sells Boston Globe to baseball team owner The New York Times Company announced Saturday that it has agreed to sell The Boston Globe newspaper for $70 million cash to the principal owner of the Boston Red Sox baseball team.

05 August 2013

US antitrust regulators bid to rein in iTunes The US Department of Justice on Friday launched a bid to more tightly regulate Apple's wildly lucrative iTunes storefront, after the tech giant lost a price-fixing case.

03 August 2013

Bank of America may face civil charges over financial crisis Bank of America may face civil charges over its actions during the financial crisis related to its mortgage products.

03 August 2013

Australian mine firm guilty of Aboriginal site desecration An Australian mining firm was convicted Friday of desecrating a sacred outback Aboriginal site in a landmark ruling protecting the beliefs of the beleaguered minority in the country.

02 August 2013

Huawei lashes out at ex-CIA chief over spying claims Chinese telecoms giant Huawei has hit back at allegations by a former CIA chief that the company spies for Beijing, labelling them "defamatory" and "baseless".

02 August 2013

Energy drink makers on defensive at US Senate hearing The multi-billion-dollar global energy drink industry joined forces on Capitol Hill on Wednesday to fight off growing claims that their caffeine-rich products are hazardous to young people's health.

01 August 2013

Kazakhstan’s AsiaCredit Bank discloses reasons why the National Bank suspends its license for taking in deposits Up to October 30 individuals won’t be able to open deposits or accounts with the Bank, with all the contracts signed with individuals before July 30 being fully valid.

31 July 2013

Kazakhstan National Bank suspends license of AsiaCredit Bank AsiaCredit Bank's license to accept deposits and open bank accounts for individuals has been suspended.

31 July 2013

US fines Wyeth $490.9 mn for illegal drug marketing Wyeth Pharmaceuticals has pleaded guilty to misbranding a drug that prevents the rejection of organ transplants and agreed to pay $490.9 million.

31 July 2013

Pavlodar-based oil refinery lowering its earlier announced capabilities The project to modernize the oil refinery is estimated at $1.07 billion. The Company plans to spend about $300 million to purchase equipment this year.

30 July 2013

EADS to decide on Airbus name change in restructuring drive European aerospace giant EADS is set to decide Tuesday whether to change its name to Airbus, its better-known plane unit, as part of an overhaul that will also merge its defence and space units.

30 July 2013

Apple China supplier imposes overtime, hires minors: group Three Chinese factories making Apple products impose excessive overtime and employ minors, a US-based advocacy group said, renewing scrutiny of labour practices by the US tech giant's suppliers.

29 July 2013

Depositors to play no role in managing pension savings: Central Bank Governor The compound of the Single Pension Fund’s Managing Board is subject to Kazakhstan President’s approval. It is to include reps of the Government, Central Bank, financial market players as well as independent experts.

29 July 2013

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