Money Market

One of Yahoo’s newest employees is a 17-year-old high school student in Britain. As of Monday, he is one of its richest, too. That student, Nick D’Aloisio, a programming whiz who wasn’t even born when Yahoo was founded in 1994, sold his news-reading app, Summly, to the company on Monday for a sum said to be in the tens of millions of dollars.

Angry Russian residents of Cyprus are talking of giving up on the Mediterranean island over a eurozone bailout deal which they say unfairly targets their money, AFP reports.

Kazakhstan’s citizens’ deposits kept with Cypriot banks do not exceed $40-50 million, a Tengrinews.kz journalist reports, citing FINAM investment holding company experts. Individuals account for most of the deposited amount.

Almaty is over-saturated with bank loans, Ranking.kz writes. 63 percent of all the loans in Kazakhstan fall on Almaty citizens, with overdue loans amounting to over $10 billion.