S&P Global Ratings affirmed its ‘B-/C’ long- and short-term counterparty credit ratings on Capital Bank Kazakhstan JSC (CBK). The outlook is negative. At the same time, S&P affirmed ‘kzB+’ Kazakh national scale rating on the bank. “The affirmation follows an improvement in CBK’s liquidity metrics in the first half of February,” S&P said. “The bank’s…
Air Astana, the principal airline and the flag carrier of the Republic of Kazakhstan, has announced it will increase weekly frequency from Astana to London. Starting in June the carrier will perform flights on Sundays in addition to existing operations on Mondays, Tuesdays, Thursdays and Saturdays. Flights will be operated on Boeing 757’s. Flight time…
Aivar Baikenov, the Head of Asset Management Divisionof Kazkom Securities commented on the situation with the exchange rate of Kazakhstani tenge. “Tenge strengthening, in our opinion, is only temporary. It was caused by two factors. The first is a favorable and stable situation on the oil market, where we see, in fact, minimal fluctuations in…
Moody’s Investors Service expects Kazakh banks to continue facing solvency risks over the next 12-18 months amid a challenging business environment, the rating agency said in its report entitled “Banks – Kazakhstan; Heightened Insolvency Risks Drive the Negative Outlook”. “Asset quality remains weak across Kazakhstan’s banking sector as the depreciated tenge, combined with challenging operating…
Turkish investors intend to build a hydropower plant with the capacity of 4,2 MW in South Kazakhstan. Akim of Tulkubas district of South Kazakhstan region Auyelkhan Turymbekov has met with investors from Turkey to discuss construction of the hydropower plant. There are several rives in the region where the HPP can be built, such as…
Kazakh Ambassador to Tajikistan Nurlan Seitimov has invited Tajik investors to participate in privatization of Kazakhstan’s state assets. A source at the Kazakh Embassy in Dushanbe says this issue has been discussed at a meeting of Seitimov with Fayziddin Qahhorzoda, the head of the State Committee on Investment and State-owned Property Management of Tajikistan (GosKomInvest).…
A press conference dedicated to the launch of the Astana-Warsaw direct flight has been held at the Central Communications Service in Astana. Earlier it was reported that LOT would start operating the Warsaw-Astana flight on May 8, four times a week (on Mondays, Wednesdays, Fridays and Saturdays). “It is no coincidence that the launch of…