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Brazil names 46 suspects in money-laundering, drug probe Police in Brazil have named 46 people, including an ex-executive at oil giant Petrobras, as suspects in an alleged $4.5 billion money laundering and drug operation, officials said.

18 April 2014

Central Bank to raise requirements to banks tenfold by 2020 Central Bank Governor elaborated that consolidation of banks is needed to ensure their competitive ability given the anticipated entry of subsidiaries of international players after 2020.

17 April 2014

$1.3 billion was withdrawn from Kazakhstan’s banks in deposit run following misleading sms campaign Following the 20% currency devaluation in February that there had been a wave of sms spreading information on allegedly approaching bankruptcy of Allaince, Kaspi and Center Credit.

16 April 2014

President Nursultan Nazarbayev on the country’s financial industry Head of State gave a number of instructions to the National Bank and the Government to reduce the share of NPLs, accelerate introduction of Basel III standards, and strengthen safeguards to protect the rights of consumers of banking products.

16 April 2014

LUKOIL sells 50% in Caspian Investment Resources Ltd with assets in Kazakhstan to China’s Sinopec According to Vagit Alekperov, LUKOIL head, the company plans to redirect funds into geological exploration, including in the Kazakhstan’s part of the Caspian Sea.

16 April 2014

China bank loans surge in March: central bank China's bank lending surged in March from the previous month, the central bank said Tuesday, but analysts dismissed the possibility of monetary easing.

16 April 2014

Samruk-Kazyna Head on forthcoming IPOs and privatization plans According to him, plans are there to offer shares in 103 companies belonging to Samruk-Kazyna in 2014-2016.

15 April 2014

$1.3 billion to finance Toxic Assets Fund of Kazakhstan The vehicle will be buying out toxic assets from the country’s banks. Regulating rules will be formulated by July 1, 2014.

15 April 2014

Kazakhstan bank assets to reach 80% of GDP by 2020 According to the National Bank, from 2011 to 2013 Kazakhstan-based banks’ assets grew by 28.5% to reach $85 billion, with the assets to the GDP ratio diminishing from 55% to 46%.

15 April 2014

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Air Astana dropped from EU's grey list Air Astana left the European Commission’s "grey list" and can now increase the number of flights to the European Union countries.

14 April 2014

$2.7 billion out of Kazakhstan National Oil Fund to stimulate economy in 2014 One of the sources to boost the country’s economy growth will be $5.5 billion out of the National Oil Fund to be allocated in 2014 and 2015: Minister of Economic Affairs.

14 April 2014

Talks to be held to boost oil production at other oilfields over failed plans to produce 2.5 million tons at Kashagan Talks will be held with other oil producers to boost crude production and exports by at least 1.5 million tons at other oilfields: Minister of Economic Affairs.

14 April 2014

Consumer loans in Kazakhstan reach 2.3 trillion Tenge Consumer credit for an average wage worker in Kazakhstan does not exceed a four months' salary, Tengrinews reports citing Ranking.kz.

14 April 2014

US launches probe into weight loss company Herbalife US authorities have opened a criminal probe into the nutrition and weight loss company Herbalife Ltd., according to media reports Saturday.

13 April 2014

Chevron, YPF ramp up Argentina shale investment US oil giant Chevron and state-controlled YPF unveiled plans Thursday to spend another $1.6 billion to develop Argentina's Vaca Muerta shale formation for oil and gas projects.

12 April 2014

Central Bank approves Bulat Utemuratov's purchase of Alliance Bank and Temirbank Kazakhstan businessman Bulat Utemuratov has received a permission from the Central bank to finalize his purchase of Alliance Bank and Temirbank.

11 April 2014

President Nazarbayev instructs to develop strategy to invest assets of Single Pension Fund President also stressed that the National Bank should develop extra incentives to reduce dollarization of the banking sector.

11 April 2014

Government should teach Kazakhstan’s citizens to pay off loans: President Nazarbayev President is confident that excessive support to businesses on the part of the Government hampers businesses from developing.

11 April 2014

People in Astana don't like new apartments? Astana folks abstain from buying apartments in new buildings.

11 April 2014