Kazakhstan Chamber of Commerce in the USA

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Kazakhstan Daily News Roundup – February 24, 2011

Posted on February 24, 2011 by KazCham

ENERGY:

KEGOC awards $100-million substation rehabilitation order to Hyundai, Korea Electric (SRI)

CNPC, KazMunaiGas in deal to tap Urikhtau gas field (Reuters)

BUSINESS AND ECONOMY:

Banking sector loses $22 million in January – regulator
(SRI) – Kazakhstan’s banking sector posted a cumulative net loss of KZT3.3 billion ($22 million) in January, driven by losses posted by BTA Bank and Alliance Bank, according to a monthly report published by the Kazakh Financial Supervision Agency (FSA).

Kazakh president energized after China trip
(RFE/RL) – Kazakh President Nursultan Nazarbaev has wrapped up a visit to China and is heading home with lucrative contracts to supply China with energy resources and promises of some $7 billion in Chinese loans for projects in Kazakhstan.

Kazakhstan and China to set up a $1-billion joint investment fund (SRI)

Kazakhstan’s BTA Bank reports loss in January – regulator (Bloomberg)

Kazakh MPs bow to president, boost social spending (Reuters)

National Bank of Kazakhstan: Exchange rates February 24, 2011 (Kazakhstan Today)

Indicators – February 23, 2011 (Reuters)

METALS AND MINING:

ENRC to get part of $2-billion Chinese loan to Kazakhstan fund (Bloomberg)

Friedland’s Kazakh JV announces 50% gold resource increase (Mineweb)

REGIONAL:

Azerbaijan plans to reduce investment spending 17% this year (Bloomberg)

Uzbekistan warns over ‘evil, satanic’ rock music (AFP)

SOURCE: http://silkroadintelligencer.com/2011/02/24/kazakhstan-daily-news-roundup-february-24-2011/

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