Positive wave rolls on

The wave of flotations that began in 2005 continues and some of the big banks have been joining the fray. Christopher Pala reports from Almaty on the positive effects on political risk.

Waiting for the boom

Kazakhstan stands on the verge of an oil boom but government conditions are putting oil companies off investing in the country. By Christopher Pala.

Independent streak

European banks took over most of their east European counterparts when the Iron Curtain fell. Yet, despite Kazakhstan’s extraordinary boom, its banks have not been bought up. Christopher Pala reports.

Good on assets, short on vision

A thriving and highly profitable banking sector still draws criticism for having a short-term outlook. Christopher Pala reports.

Stalled reforms mar optimism

Despite inflation and diversification worries, the economy is expected to boom for decades to come, but the reform programme is suffering.Christopher Pala reports.

From ‘small and risky’ to a target for partnership

Kazakhstan’s spectacular financial boom is beginning to attract the attention of European banks, reports Christopher Pala from Almaty.European banks have long perceived Kazakhstan, the largest after Russia of the former Soviet republics, as “too far, too small, too risky”. Five times the size of France with its economic capital, Almaty, close to the Chinese border and as far from Paris as Paris is from New York, Kazakhstan’s population is only 15 million: a small market spread over a huge area, ruled by an authoritarian president unwilling to make the transition to democracy.