Search Site

Trends banner

Alpha Dhabi H1 profit $1.79bn

Adjusted EBITDA rises to $2.36bn.

Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

Kazakhstan impounds jewels worth US$230m from ex-leader’s nephew

Kazakh President Kassym-Jomart Tokayev (R) and President of the European Council Charles Michel hold a joint media briefing in Astana. (AFP)
  • The agency said in a statement that exclusive gems and precious stones worth 230 million US dollars were seized in "operational-search activities"
  • The anti-corruption agency also said that $300 million that he had invested abroad will be "soon be given to the budget of Kazakhstan"

AlmatyKazakhstan—Kazakhstan’s anti-corruption agency said Wednesday it had seized jewels worth more than $230 million, in a case involving the nephew of ex-leader Nursultan Nazarbayev.

“As a result of operational-search activities, exclusive gems and precious stones worth 230 million US dollars” were seized, the agency said in a statement.

The agency gave no details on what kind of stones were seized.

It confirmed to AFP the jewels were found as part of a new investigation against businessman Kairat Satybaldy, a nephew of Nazarbayev.

Nazarbayev, now 82, ruled the Central Asian country from 1991 until 2019.

Satybaldy was arrested in March and charged with embezzlement from national telecommunications operator Kazakhtelecom and “other crimes undermining state security.”

He was handed a six-year prison term in September.

Satybaldy is the first member of the Nazarbayev family to be arrested.

The anti-corruption agency also said Wednesday that $300 million that he had invested abroad will be “soon be given to the budget of Kazakhstan.”

In January 2021, more than 230 people were killed in riots in the Central Asian country, their cause are still mysterious.

Current President Kassym-Jomart Tokayev had estimated that they were the result of a plot from abroad, saying “terrorists” wanted to take power, without ever providing evidence to this claim.

Tokayev, who is running for re-election on November 20, has since undertaken to strengthen his position and weaken that of his authoritarian predecessor.

The capital Astana, which was renamed in honor of Nazarbayev in 2019, regained its original name in September.