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Christine Lagarde’s appointment as IMF Managing Director is a “done deal”, Grigori Marchenko, the IMF candidate backed by the former Soviet block, has said, as he prepares to back out of the race as early as Friday evening.
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The European Commission has come under fire for awarding a £3.5 million grant to a charity controlled by Lola Karimova-Tillyaeva, the daughter of Uzbekistan’s strongman president.
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Turkmenistan has ripped down the notorious sun-tracking statue to its founding president, only to build it 60 feet higher.
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Royal Dutch Shell will shut its Caspian office for the second phase of the giant Kashagan oil field at the end of this month, effectively putting the crucial £30bn ($50bn) second phase of the project on ice for at least two years.
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Kazakhstan’s leading opposition figures have accused Glencore of benefiting from an illegal privatisation of assets, amid fears the recent commodities sell-off could hurt the company’s valuation or force it to pull its $61bn flotation.
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In about two months’ time, or at least by the end of this year, $3.2 billion will drop into the corporate bank accounts of Timur Issatayev, chief executive of of Verny Capital.
The little-known Kazakh private equity outfit has shot to prominence since it emerged last month as the largest external beneficiary of Glencore’s IPO. A full 40% of the proceeds will go to buying out a 42.3% stake Verny holds in Kazzinc, Glencore’s local mining venture.
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A French court will be asked to rule next week on whether Islam Karimov, the president of Uzbekistan, qualifies as a “dictator”, in an unprecedented libel case involving his glamorous daughter.
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One of the closest aides of Kazakhstan’s President could become his country’s richest man when Glencore, the Swiss trading giant, floats in London this month.
Eurasian Natural Resources Corporation has held an emergency board meeting amid a bitter split between directors of the FTSE 100 miner.
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In the West, memories of the Space Race are dominated by Neil Armstrong and Apollo. But in Russia, it is the cult of Gagarin that rules, says Richard Orange.