Central Asia

UBS and Citi trader Tom Hayes was jailed for 11 years for manipulating Libor. But while the trader argued that he was made a scapegoat for the financial crisis, perhaps the rate he rigged is a bigger victim.

The sellers of Oltin, a closed-ended fund seeking to invest in Uzbekistan, have decided to postpone a public listing and proceed with private fundraising after investors expressed a preference for an unlisted fund structure.

Investors in London have been considering the opportunity to invest in Uzbekistan this week, through a new closed-end fund, Oltin, the first internationally listed security giving investors exposure to the Central Asian republic.

Kazakhstan is one of the most interesting and exciting investment stories in the equity capital markets given its privatisation plans. But the events surrounding its election over the weekend reminded investors of the risks they face.

GlobalMarketscan reveal that the European Investment Bank is preparing to launch a new entity — potentially called the European Bank for Sustainable Development — that will focus on sustainable projects outside the EU.

The political uncertainty triggered by the decision to re-run the municipal elections in Istanbul has not dented international lenders’ appetite for financing Turkey’s banks, market participants tell GlobalMarkets

A Ukrainian bank believes it can overturn a court ruling against its nationalisation that was seen as good news for the oligarch who used to own it and who is a supporter of the incoming president.

Emerging markets investors are looking ahead to a series of privatisations in Kazakhstan following the economic reforms unveiled by outgoing president Nursultan Nazarbayev that should be implemented by his successor

As Uzbekistan takes its first steps towards opening up to international investors, Europe and US are trailing behind their Russian and Chinese counterparts.

After decades of self-imposed isolation, Uzbekistan is embarking on a range of projects with the help of Chinese assistance — and finance — to slowly start to stitch a recently remote country back into the global economy

After being off limits to foreign investors for many years, Uzbekistan has raced to catch up for lost time by seeking investments by European banks and international financial institutions

Four decades after declaring independence, a successful Eurobond issue and major reforms show Uzbekistan is finally growing up and engaging with the world on its own terms