Kazakhstan Chamber of Commerce in the USA

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Kazakhstan Daily News Roundup – March 15, 2011

Posted on March 15, 2011 by KazCham

Source: http://silkroadintelligencer.com/2011/03/15/kazakhstan-daily-news-roundup-march-15-2011/

HEADLINES:

KazakhGold deal hits a snag
(SRI) – Last year’s agreement between Polyus Gold and the Assaubayev family to resolve an impasse over the earlier acquisition of KazakhGold, a large Kazakh miner, has hit an obstacle as the miner’s original owners have been unable to raise funds to buy back its main production assets.

Kazakhstan may issue $500-million Islamic bond this year
(Reuters) – Kazakhstan will revive plans this year for a $500 million debut sukuk issue that could create a benchmark for corporate lenders aiming to develop an Islamic finance sector in Central Asia’s top economy.

Central Asia struggles to profit from high cotton prices
(bne) – Record prices should be good news for Central Asia’s cotton producers, especially Uzbekistan, but raising production in response to high demand is proving difficult.

ENERGY:

Kazakhstan’s oil, gas and coal production up in Jan-Feb (SRI)

BUSINESS AND ECONOMY:

Kazakh economy expanded 6.3% in January – Statistics Agency (Bloomberg)

National Bank has purchased $6 billion this year to stabilize tenge exchange rate (Interfax)

Kazakh trade surplus shrinks to $2.4 billion in January (Reuters)

Belarus, Kazakh, Russia delegations to discuss Customs Union (Itar-Tass)

National Bank of Kazakhstan: Exchange rates March 15, 2011 (Kazakhstan Today)

METALS AND MINING:

Kazakhstan issues January to February 2011 production results (Steel Guru)

Hambledon’s Daffern says placing will improve Sekisovskoye and save costs ‘sooner rather than later’ (Proactive Investors)

POLITICS:

Kazakh opposition calls for election boycott (Reuters)

U.S. helping build Caspian navies (EurasiaNet)

Kazakh Senate Speaker to head UN office in Geneva (Interfax)

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