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Kazakhstan challenges large asset transfer by ex-president’s foundation

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Kazakhstan challenges large asset transfer by ex-president's foundation

Kazakh prosecutors have filed a lawsuit seeking to nullify the transfer of a local bank’s ownership from ex-president Nursultan Nazarbayev’s non-profit foundation to a foreign company, they said on Thursday.

The foundation established by Nazarbayev, who ran the oil-rich Central Asian nation for three decades until resigning in 2019, used to own Jusan Bank (TSBN.KZ), the sixth-largest lender in the former Soviet republic.

But according to a statement by the prosecutor general’s office, the company through which the foundation owned the bank transferred its shares to Jusan Technologies, a British company, in 2020, “endangering public interest”.

Jusan Technologies’ parent company, Nevada-based Jysan Holding, in a separate statement on Thursday said it has filed a lawsuit in a federal district court in Nevada against the Kazakh government, accusing it “of engaging in a campaign of fear and intimidation in order to seize control of the companies’ Kazakhstan-based assets worth more than $1.5 billion”.

A spokesperson for the Jusan Group said that Nazarbayev had “never had any role or connection – directly or indirectly – with Jusan”.

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“This asset freeze is part of an attempt by the Government of Kazakhstan to unwind lawful transactions involving the Jusan Group that were undertaken with their prior express approval,” the group’s spokesperson said.

Nazarbayev, 82, fell out with his successor Kassym-Jomart Tokayev last year and lost key positions which had given him sweeping powers, such as the chairmanship of the security council, even after his resignation.

The Nazarbayev foundation, run by former education minister Aslan Sarinjipov, acquired Jusan in 2019 after it was bailed out by the state.

According to prosecutors, the foundation asked them this month to look into the case, describing the ownership transfer as a result of illegal actions by several entities.

Neither the foundation, which runs a university and a network of prestigious schools, nor Nazarbayev’s spokesman could be immediately reached for comment.

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India formulate security plan for World Cup 2023

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India formulate security plan for World Cup 2023

 India have chalked out a comprehensive plan for multi-layer security and management of traffic for the upcoming ICC Men’s World Cup 2023. 

A security official told Indian media that arrangements had been made for smooth influx of fans into the stadiums and maintain uninterrupted traffic flow on roads.

He said multi-layer security plan had been designed for the mega event, adding that a communication system would also be established for seamless coordination between security agencies and local cricket association. 

The security teams would ensure the safe movement of teams from hotel to stadium and back by creating secure pathways. 

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As several stadiums, including Pune, are situated at a considerable distance from the city, seamless arrangements have been made to handle the logistical challenge in an effective way.

Commissioner of Pimpri Chinchwad police Vinoy Kumar Choubey said told Indian media, “We will be putting in place a multi-layer security cover in and around the stadium. A detailed plan for the same is in the making.

“Each layer will have a specific purpose and a pre-decided number of personnel and officers will be tasked to secure each layer. A communication channel has been established between the MCA office bearers and our team.”

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South Korea opposition leader ends 24-day hunger strike

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South Korea opposition leader ends 24-day hunger strike

 South Korea’s opposition leader ended a 24-day hunger strike on Saturday, a party spokesperson said, two days after parliament voted to let prosecutors serve an arrest warrant against him for alleged bribery.

Lee Jae-myung, leader of the Democratic Party of Korea, will maintain a schedule including court attendance while hospitalised for the time being, the spokesman told reporters.

Prosecutors this month sought the warrant in an investigation into bribery allegations concerning a development project. Prosecutors accuse Lee of asking a company to illegally transfer $8 million to North Korea when he was the governor of Gyeonggi Province.

He is also accused of breaching his duty over losses of 20 billion won ($15 million) by a municipal development corporation when he was mayor of Seongnam city.

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Lee, who lost South Korea’s presidential election to conservative Yoon Suk Yeol last year, has denied wrongdoing, calling the allegations “fiction” and a “political conspiracy”.

He began his protest on Aug. 31, citing the government’s economic mismanagement, threats to media freedom and the failure to oppose Japan’s release of wastewater from the wrecked Fukushima nuclear plant, among other reasons.

Thursday’s surprise vote by parliament, controlled by Lee’s party, has caused an uproar among his supporters.

Police on Saturday detained a man in his 40s who had posted the names of more than a dozen lawmakers outside Lee’s party faction, writing “gotta search for the sniper rifle at home”, said an official with the Gyeonggi Nambu Provincial Police. Police will seek an arrest warrant against him for intimidation, the official said.

South Korea is to hold parliamentary elections in April.

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Landslide causes large chunk of Swedish motorway to collapse

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Landslide causes large chunk of Swedish motorway to collapse

 A large chunk of a motorway in southwest Sweden collapsed overnight, causing three people to be taken to hospital with light injuries, police said on Saturday.

The landslide damaged the motorway between Sweden’s second-biggest city Gothenburg and Norway’s capital Oslo, near the small town of Stenungsund, around 50 km north of Gothenburg on Sweden’s west coast.

“The landslide has affected an area of around 100 x 150 meters, around ten vehicles, a wooded area, and a business area with a gas station and a fast food restaurant,” the Gothenburg Rescue Services said.

“A number of people have been helped out of vehicles in the slide area with the help of fire personnel and a helicopter,” they said. Several cars and one truck had fallen into holes and cracks caused by the landslide, Swedish news agency TT reported.

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A rescue services spokesperson told public broadcaster SVT all people in the vehicles had been helped out. The rescue services said specially trained staff and search dogs would now search the area, and that further slides could not be ruled out.

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