Kazakhstan Chamber of Commerce in the USA

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Kazakhstan Daily News Roundup – April 20, 2011 0

Posted on April 20, 2011 by KazCham

ENERGY:

CPC shareholders agree to launch Expansion Project construction (Trend)

BUSINESS AND ECONOMY:

Kazakhstan to manage stakes in failed lenders via new vehicle
(Bloomberg) – Kazakhstan will consolidate state stakes in BTA Bank, Temirbank and Alliance Bank, three of the four Kazakh lenders that defaulted in 2009, in a new management company, central bank Chairman Grigoriy Marchenko said.

Kazakh tenge gain may not slow inflation – central bank
(Bloomberg) – A stronger currency doesn’t necessarily help slow inflation in countries like Russia and Kazakhstan, according to Grigoriy Marchenko, governor of the National Bank of Kazakhstan.

Kazakhstan urges Russia, Belarus to coordinate currency policies
(Bloomberg) – Kazakhstan urged Russia and Belarus to align currency policies between the three members of a customs union and avoid “sharp, unilateral” devaluations.

Kazakhstan open to discuss turning Baikonur Space Center into joint stock company (RIA Novosti)

Kazakhstan to increase annual financing of geological exploration to KZT40 billion (Interfax)

All projects receiving state support to undergo local content expertise from 2012 (Interfax)

Turkey’s Aselsan to set up plant in Kazakhstan (Trend)

Indicators – April 19, 2011 (Reuters)

METALS AND MINING:

ArcelorMittal Kazakh unit plans $900-million investment
(Reuters) – ArcelorMittal, the world’s largest steelmaker, plans to invest nearly $900 million by 2015 to upgrade its Temirtau plant in Kazakhstan, a company official said.

Workers at Kazakh copper giant go on strike (RFE/RL)

POLITICS:

Kazakhstan makes real progress toward democracy (The Hill)

Kazakh President Nazarbayev sets off for official visit to Estonia (RIA Novosti)



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