Kazakhstan Chamber of Commerce in the USA

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Kazakhstan Daily News Roundup – December 8, 2010

Posted on December 08, 2010 by KazCham

HEADLINES:

Central bank to support managed float for tenge in 2011
(SRI) – The National Bank of Kazakhstan would support the return of the tenge currency to a managed float next year and the removal of its current trading corridor, the central bank’s chairman, Grigoriy Marchenko, said on Tuesday.

First Quantum sues ENRC over Congolese mining project
(SRI) – Canada-based First Quantum Minerals Ltd. on Friday launched a $2-billion lawsuit against Kazakhstan’s Eurasian Natural Resources (ENRC), related to a disputed purchase of a copper and cobalt project in the Congo, wire services reported.

Kashagan to begin commercial production in 2012 – Mynbayev (SRI)

BUSINESS AND ECONOMY:

Kazakhstan’s foreign reserves decrease 0.6% in November (SRI)

ATF Bank reports $175-million loss in Jan-Sep (SRI)

Kazakh government approves documents on Common Economic Space (Itar-Tass)

Kazakh president approves state budget for 2011-2013 (Interfax)

National Bank of Kazakhstan: Exchange rates December 8, 2010 (Kazakhstan Today)

Indicators – December 7, 2010 (Reuters)

METALS AND MINING:

Renaissance Capital sues ENRC subsidiary Camec over $14 million deal advice fee (Bloomberg)

Orsu Metals reports progress on Karchiga project feasibility study (Marketwire)

SOCIETY:

Kazakhstan’s president for life asks for more life (CBS News)

SOURCE: http://silkroadintelligencer.com/2010/12/08/kazakhstan-daily-news-roundup-december-8-2010/

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