Dubai airport restricts arrivals to manage storm-induced delays
2 hours ago
Kazakhstan's Senate on November 2 approved a new central bank chief after the previous incumbemt, Kairat Kelimbetov, was sacked by President Nursultan Nazarbayev over a loss of trust in the bank and national currency after two devaluations in the space of two years.
The Senate, the upper chamber of the Kazakh parliament, approved the appointment of Daniyar Akishev as central bank governor, who previously was acting aide to the president and head of the presidential administration’s socioeconomic monitoring department.
Explained the change to the Senate, Nazarbayev said: “Trust in the bank and the national currency, the tenge, is falling now and this should be prevented. The country is experience shortages of tenge liquidity and loaning to the economy is falling. These are bad indicators and we should work on correcting them. I am confident that Akishev’s education and experience will help him solve this task.”
Kelimbetov was appointed governor of the central bank on October 1, 2013, and oversaw two devaluations of the national currency – the first in February 2014 and the second in August 2014, when the tenge was allowed to float freely. As governor, Kelimbetov took much for the blame for the devaluations, which were a response to the deteriorating economic conditions due to poor government policies and low oil and metal prices.
Related Content
News
EU’s Von der Leyen, China call for calm following Israeli attacks on Iran
European Commission President Ursula von der Leyen urged Israel and Iran to prevent further escalation in the Middle East following an Israeli strike on Iranian territory
BREAKING: Iran denies 'Israeli strike', admits shooting down drones
Iranian military and government officials confirmed that recent air defence activity in Isfahan province was a routine measure against suspicious aerial objects, with no resulting damages or incidents.
Poland's first nuclear plant may carry €35bn price tag
Construction is expected to start in 2026, but the head of nuclear power SPV Polskie Elektrownie Jadrowe (PEJ) warns the costs will be high.
Parliament of Bosnia’s Republika Srpska passes resolution denying Srebrenica genocide
Bosnian Serb politicians have repeatedly pushed against Bosnia’s state-level legislation, which stipulates that denying the Srebrenica genocide is a crime.
Most Read
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
1 day ago
-
COMMENT: Armenia's decisive turn towards the West
1 day ago
-
US senators seek closer ties with Western Balkans to combat Russia's 'malign influence'
1 day ago
-
Remittances come to the rescue of Lebanon’s battered economy
21 hours ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
2 days ago
-
Iran vs Israel: Who is better equipped for war?
5 days ago
-
Saudi Arabia to scale back plans for Neom city
9 days ago
-
BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
5 days ago
-
PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
6 days ago
-
Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
5 months ago
-
Russia could pay off its entire external debt tomorrow, in cash
19 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
24 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
UBN: Russia could take the Baltic states in 48 hours
29 days ago
-
BRICS announce a blockchain-based payment system to create a common currency
22 days ago