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JSC BTA Bank Signs a Memorandum of Understanding with the Creditors Steering Committee to restructure BTA Banks Financial Indebtedness

JSC BTA Bank ("BTA") announced today that it has entered into a Memorandum of Understanding ("MOU") with the Creditors' Steering Committee (the"Steering Committee") to restructure BTA's financial indebtedness (the"Restructuring").

The objective of the Restructuring shall be to satisfy the regulatory capital requirements of the FMSA as of the effective date of the Restructuring.

24 2009 | Viewed: 867 | News / Theme of day | Read full
Kazakh BTA creditors draft own restructuring plan

ALMATY, Sept 22 (Reuters) - The creditors of Kazakh bank BTABTAS.KZhave proposed their own plan to restructure its $10 billion debt, according to the memorandum published by BTA.

23 2009 | Viewed: 719 | News / Theme of day | Read full
UPDATE 2-Kazakh bank BTA signs debt restructuring MOU

ALMATY, Sept 22 (Reuters) - Kazakh state-run bank BTABTAS.KZon Tuesday reported progress in talks to restructure its $10 billion debt by signing a memorandum of understanding (MOU) with its creditors' steering committee.

23 2009 | Viewed: 719 | News / Theme of day | Read full
BG seeks over $1 billion from Kazakhstan in duty dispute

ASTANA (Reuters) - British energy firm BG is seeking to recover more than $1 billion in oil export duty paid to Kazakhstan through an international arbitration court, Kazakh Energy Minister Sauat Mynbayev said Tuesday.

23 2009 | Viewed: 733 | News / Theme of day | Read full
Kazakhstan, Ukraine are big trade finance risks - WTO

GENEVA, Sept 22 (Reuters) - The danger of bank defaults in Kazakhstan and Ukraine poses a risk to trade finance markets, the World Trade Organisation (WTO) said on Tuesday.

23 2009 | Viewed: 667 | News / Theme of day | Read full
JSC Alliance Banks Application for Restructuring Approved by the Court

JSC Alliance Bank (the "Bank") is pleased to announce that the Specialised Financial Court of Almaty (the "Court") has approved the Bank's application for restructuring by a decision dated 18 September 2009.

23 2009 | Viewed: 890 | News / Theme of day | Read full
Obama pushes economic message before big summits

NEW YORK (Reuters) - President Barack Obama's multi-tasking abilities will be tested this week as he juggles war, diplomacy and finance on the world stage while dealing with the American public's top concern: the U.S. economy.

21 2009 | Viewed: 661 | News / Theme of day | Read full
UPDATE 2-ENRC settles deal to buy CAMEC for $955 mln

LONDON, Sept 18 (Reuters) - Kazakh mining group ENRC on Friday (ENRC.L) wrapped up a $955 million cash deal to buy junior firm CAMEC (CFM.L), which will diversify the firm into metals such as copper and into high-risk areas of Africa.

21 2009 | Viewed: 702 | News / Theme of day | Read full
No deal yet on Kazakh BTA debt - analyst

ALMATY, Sept 18 (Reuters) - Kazakh bank BTABTAS.KZhas not yet agreed a debt restructuring deal with its creditors which it must submit to the regulator on Friday, an analyst at Commerzbank, one of BTA creditors, told Reuters.

21 2009 | Viewed: 738 | News / Theme of day | Read full
Kazakh regulator awaits BTA debt restructuring plan

ALMATY, Sept 18 (Reuters) - Kazakhstan's Financial Supervision Agency (FSA) expects state-run bank BTABTAS.KZto submit its $10 billion debt restructuring plan in full by the end of Friday, FSA head Yelena Bakhmutova told Reuters.

21 2009 | Viewed: 781 | News / Theme of day | Read full
Skype founders sue eBay, investors

SAN FRANCISCO (Reuters) - The founders of Skype have sued owner eBay Inc and an investor group that has agreed to buy the Webphone service, accusing them of copyright violation and potentially disrupting the $1.9 billion deal.

18 2009 | Viewed: 682 | News / Theme of day | Read full
Kazakh economy needs more state aid - banker

ALMATY, Sept 15 (Reuters) - Kazakhstan's crisis-hit economy needs more state aid on top of the already allocated $19 billion, the head of medium-sized local lender NurbankNRBN.KZsaid on Tuesday.

17 2009 | Viewed: 616 | News / Theme of day | Read full
Wealth Gap Widening in Kazakhstan

Despite its mineral-led economic boom, the Central Asian nation's development agenda is inchoate-leaving most of the benefits to cities like Astana and Almaty.

16 2009 | Viewed: 696 | News / Theme of day | Read full
Obama urges Wall Street co-operation

President Barack Obamaon Monday sought to capitalise on the anniversary of thebankruptcy of Lehman Brothersto urge Wall Street to co-operate with Congress to enact the "most ambitious overhaul of the financial system since the Great Depression".

16 2009 | Viewed: 706 | News / Theme of day | Read full
GM to sell control of Opel to Russia-backed Magna

BERLIN/FRANKFURT (Reuters) - General Motors agreed to sell a 55 percent stake in Opel to a group led by Canada's Magna after months of fraught negotiations that had weighed on the European unit and its 50,000 workers.

14 2009 | Viewed: 687 | News / Theme of day | Read full
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