EuromoneyFXNews.com

EuromoneyFXNews.com

Sign up to receive free alerts from our foreign exchange news service

China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

May 1999

The biathletes of Kazakhstan



We know that the cloggies of ABN Amro and ING Barings are deadly rivals the world over and eat each other's client lists for breakfast. In Almaty, Kazakhstan, that competition extends to the bankers' leisure time. And these aren't even Dutchmen, they're Kazakhs. They issue mad challenges to each other: downhill racing, skeet shooting, computer warfare, it's all in a day's fun.

I encounter the ING Barings downhill ski team limbering up at Chimbulak - an acceptable 2,300 to 3,200 metre resort with four lifts - just 20 minutes out of town.

At around $20 a day you can equip yourself with boots and skis, not the latest parabolic shape but decently maintained, and the lifts cost 100 tenge ($1) a ride. The jeunesse dorée of Kazakhstan are here sporting the latest gear. Is that Nurdin Damitov in a dashing blue-and-yellow jacket? Surely only yesterday he was nursing a damaged...


You must be a trialist or subscriber to view this content

Please Subscribe or take a Free Trial below.
Already a subscriber? Log in here.





Download the Free Euromoney iPad app today