Kazakhstan Chamber of Commerce in the USA

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Kazakhstan Daily News Roundup – October 28, 2010

Posted on October 28, 2010 by KazCham

HEADLINES:

Kazakhstan to levy new $1.2 billion tax claims against Karachaganak venture
(SRI) – Kazakhstan is considering new tax tax claims totaling $1.2 billion against Karachaganak Petroleum Operating (KPO), the Western-led joint venture developing the Karachaganak gas condensate field in western Kazakhstan, Reuters reported on Wednesday, citing a Kazakh official.

Kazakh, Georgian banks more attractive than Russian peers
(bne) – Banks from the former Soviet republics are out performing their Russian rivals, according to a report from VTB Capital. VTB’s top pick from the region is Bank of Georgia, but Kazakhstan’s Halyk Bank and Kazkommertsbank (KKB) are also interesting and trading at a discount to their Global Emerging Markets (GEM) peers.

KazakhGold abandons reverse takeover deal
(SRI) – KazakhGold said on Tuesday it had temporarily abandoned the deal to take over its Russian parent Polyus Gold amid opposition from the Kazakh government.

ENERGY:

Kazakhstan can use pipelines bypassing the Bosporus and Dardanelles – Nazarbayev (Interfax)

Areva presents to Kazakh president a project for construction of a fuel assembly plant (Interfax)

BUSINESS AND ECONOMY:

Central bank to keep refinancing rate at 6-8% until 2015 (SRI)

Kazkommertsbank seeks re-entry into post-crisis Eurobond fold (Financial Times – Mergermarket)

Kazakhs approve 2011 budget with 2.8% deficit (Bloomberg)

France Kazakhstan trade deal (euronews)

Eurocopter signs two strategic agreements with Kazakhstan (defpro)

National Bank of Kazakhstan: Exchange rates October 28, 2010 (Kazakhstan Today)

Indicators – October 27, 2010 (Reuters)

METALS AND MINING:

Frontier Mining close to production (Investors Chronicle)

Central Asia Resources hits shallow gold including 15m at 8.1g/t in Kazakhstan (Proactive Investors)

POLITICS:

Kazakh President and NATO Secretary General discuss cooperation (Interfax)

Kazakh President and European Commission President sign several bilateral agreements (Interfax)

Kazakh politician gets egg on his face for irking nationalists (EurasiaNet)

Kazakhstan to invest $50 million into Afghanistan’s education program (Itar-Tass)

SOURCE: http://silkroadintelligencer.com/2010/10/28/kazakhstan-daily-news-roundup-october-28-2010/

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