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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Wanda Rich

    Posted on April 19, 2024

    Featured image for article about Top Stories

    Oil-rich regions in Kazakhstan brace for floods, Siberian rivers burst in Russia

    YANVARTSEVO, Kazakhstan (Reuters) – Kazakhstan braced on Friday for levels on the Ural River to rise sharply, something that could threaten two of its western regions and key oil infrastructure, while Russia grappled with floods in and near Siberia.

    Both countries have in the last few weeks battled the worst floods in decades, which have forced tens of thousands people to evacuate.

    Hundreds of people were building a 7-km (4.3-mile) barrier on Friday along the Ural River in the village of Yanvartsevo, in the West Kazakhstan region, about 20 km from the Russian border, which officials said would also protect the regional centre Oral.

    The Ural goes through West Kazakhstan and the Atyrau region as it flows into the Caspian Sea, an area also crossed by the Caspian Pipeline Consortium (CPC) pipeline, which pumps 80% of Kazakhstan’s vital oil exports.

    In the city of Atyrau, local newspaper Ak Zhayik reported many residents were leaving to wait out the peak of the floods in other cities, while some were building sandbag or plastic barriers around their houses.

    Kazakh state oil pipeline company KazTransOil said it was building protective embankments at its facilities in the region, including the Atyrau-Samara pipeline, through which crude is pumped for further delivery, via Russia, to Germany’s Schwedt refinery.

    In Russia, authorities in the Tyumen region in Siberia called for the urgent evacuation of five villages along the Ishim River, instructing people to grab only their documents, medicines and bedclothes.

    In the Russian city of Kurgan, water levels in the Tobol river have risen to a record high, Kurgan regional governor Vadim Shumkov said on the Telegram messaging app, and parts of the city on the right bank of the river have been flooded.

    More than 15,000 people have been evacuated in the Kurgan region, the TASS news agency cited local authorities as saying.

    (Reporting by Tamara Vaal; Writing by Olzhas Auyezov; Editing by Alex Richardson)

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