Kazakhstan Chamber of Commerce in the USA

KazCham



Kazakhstan Daily News Roundup – September 22, 2011 0

Posted on September 22, 2011 by Alex

Kazakhstan Daily News Roundup – September 14, 2011 0

Posted on September 14, 2011 by Alex

BUSINESS AND ECONOMY:

Astana Finance to sell banking subsidiary
(SRI) – Astana Finance, a large Kazakh financial services company which had defaulted on its debt in 2009, said on Tuesday it plans to sell its commercial banking subsidiary, Bank Astana Finance.

Kazakhstan raises 2011 industrial growth forecast; cuts projected deficit
(SRI) – Kazakhstan raised its 2011 industrial output growth forecast to 6.0% from 4.8%, based on projected growth in mining and processing, and cut its projected 2011 deficit by 0.1% to KZT730.4 billion ($4.95 billion), or 2.8% of GDP.

Kazakhstan to spend KZT5 billion to subsidize grain exports (SRI)

Industrial production slows in Jan-Aug (SRI)

METALS AND MINING:

Kazzinc commissions new copper smelter in Kazakhstan
(SRI) – Kazzinc, a subsidiary of Swiss commodity trader Glencore International, said on Tuesday it has commissioned a new copper smelter in Kazakhstan and will complete the construction of a new lead smelter at the site in the first half of 2012.

Polyus Gold extends deadline for AltynGroup deal (SRI)

POLITICS AND SECURITY:

On the move: Ministry of Defense, Ministry of Agriculture (SRI)

Nazarbayev receives new Italian, Slovak, Estonian, Malaysian ambassadors (SRI)

REGIONAL:

EU kicks off talks on Caspian gas pipeline (AFP)

Russia calls on EU to halt talks on Caspian gas pipeline (Reuters)

Russian, Central Asian militaries to practice counterinsurgency, naval warfare (EurasiaNet)

SOURCE: http://silkroadintelligencer.com/2011/09/14/kazakhstan-daily-news-roundup-september-14-2011/

Kazakhstan Daily News Roundup – August 9, 2011 0

Posted on August 08, 2011 by KazCham

ENERGY:

KazMunaiGas raises $1-billion syndicated loan (SRI)

Kazakhstan increases uranium output in H1 (SRI)

Max Petroleum makes new oil discovery in Kazakhstan (Proactive Investors)

BUSINESS AND ECONOMY:

BTA reshuffles management amid performance worries
(SRI) – BTA Bank is set to replace chairman Arman Dunayev with CEO Anvar Saidenov as it tries to improve performance, Bloomberg reported last week, citing two sources familiar with the decision.

On the move: Kazkommertsbank (SRI)

Sberbank to issued $684-million worth of debt by 2012 (SRI)

Inditex to buy out its franchises in Kazakhstan (SRI)

Fitch withdraws ratings of Astana Finance and Astana Finance Leasing (Fitch)

Kazakhstan to produce 18-20 million tonnes of grains in 2011 – Nazarbayev (Interfax)

Indicators – August 8, 2011 (Reuters)

METALS AND MINING:

ENRC Q2 ferrochrome up, running at full capacity (Reuters)

ArcelorMittal Temirtau in $150 mln furnace upgrade (Reuters)

Polyus has 3 million ounces of gold in Kazakhstan, Romania (Bloomberg)

Frontier Mining: Three directors boost holdings in firm (Proactive Investors)

POLITICS AND SECURITY:

Kazakhstan returns prisons to tough Interior Minsitry control after riots and breakouts (The Telegraph)

Kazakhstan makes ‘quantum leap’ in its EU relations (TheParliament)

Kazakhstan launches Steppe Eagle exercises (Trend)

SOCIETY:

Is state-sponsored hacking curbing Internet freedom? (EurasiaNet)

REGIONAL:

Turkmenistan sets presidential vote for February 12 (AFP)

Central Asia’s 10 most influential (and connected) women (RFE/RL)

Kazakh bid for more Kyrgyz water comes up dry (RFE/RL)

Tajikistan bans youth from mosques (AFP)

SOURCE: http://silkroadintelligencer.com/2011/08/09/kazakhstan-daily-news-roundup-august-9-2011/

Kazakhstan Daily News Roundup – July 8, 2011 0

Posted on July 07, 2011 by KazCham

Samruk-Kazyna will inject cash into BTA Bank if needed – executive

(SRI) – Kazakhstan’s state-owned holding and investment company Samruk-Kazyna will inject cash into BTA Bank if the lender requires financing to avoid a second default, Bloomberg reported on Thursday, citing deputy CEO Aidan Karibzhanov.

KMG EP blames strikes, power cuts for fall in H1 production
(SRI) – KazMunaiGas Exploration Production (KMG EP) blamed emergency power cuts and strikes at its major producing fields for a 3% year-on-year fall in crude oil output in the first half of this year.

ENERGY:

CPC exports down 4.4% in H1 (SRI)

Kazakhstan, Russia to invest $1 billion to upgrade power plant (SRI)

Integra sets up geophysical surveys at Lake Zaisan in Kazakhstan (OilVoice)

Tethys announces pre-acidized flow rate of 520 bpd at AKD05 Doris well (Proactive Investors)

KMG EP calls for unbiased attitude to ongoing industrial action (Interfax)

BUSINESS AND ECONOMY:

Astana Finance settles arbitration proceedings with Barclays (SRI)

Central bank to buy stake in State Pension Fund from EBRD – Marchenko (SRI)

Kazakhstan’s foreign reserves decline by 1.9% in June – central bank (SRI)

Metrokombank raises capital to fulfill requirements (SRI)

Current account grows 58% in Q1 – central bank (SRI)

Kazakhstan to increase financing of science (Interfax)

Indicators – July 7, 2011 (Reuters)

METALS AND MINING:

ArcelorMittal sees Kazakh unit buoyed by CIS demand (Reuters)

POLITICS AND SECURITY:

Kazakhstan is safe from Islamist revolution (The Moscow Times)

Suspects in the murder of policemen identified as members of radical Islam sect – media(Interfax)

87 candidates to vie for 16 seats in the Senate (Interfax)

SOCIETY:

Bringing Kazakh drylands back to life (World Bank Group)

SOURCE: http://silkroadintelligencer.com/2011/07/08/kazakhstan-daily-news-roundup-july-8-2011/

 

Kazakhstan Daily News Roundup – October 4, 2010 0

Posted on October 04, 2010 by KazCham

Kazakhstan’s Lenders Won’t Sell Bonds Overseas This Year, Government Says 0

Posted on July 27, 2010 by KazCham

Bloomberg, By Nariman Gizitdinov

Kazakhstan’s banks won’t sell any bonds abroad this year, removing the need for the government to create a benchmark for its fixed-income markets by selling debt on international capital markets, the Finance Ministry said.

The ministry said July 20 it canceled plans to sell as much as $750 million of bonds to investors outside its borders this year after obtaining a $1 billion loan from a World Bank unit.

BTA Bank, Alliance Bank, AO Astana Finance and Temirbank, then controlled by BTA, defaulted last year, leaving about $20 billion in debt to be restructured. State-controlled Alliance and Temirbank have completed their debt restructuring efforts, and BTA struck a deal with creditors in May.

Kazakhstan “is studying the possibility of selling Islamic bonds,” Finance Ministry spokeswoman Anna Zhekenova said by telephone from Astana today, without elaborating.

Kazakhstan wants to tighten environmental safety requirements on Royal Dutch Shell’s giant offshore Kashagan development in the wake of BP’s ongoing Gulf of Mexico disaster, in a further sign that the blow-out will increase the cost of oil projects worldwide.

Sauat Mynbayev, Kazakhstan’s Minister of Oil and Gas said: “It’s clear that we need the consortium members to take seriously the signals from the Gulf of Mexico event, and it’s clear that going forward, environmental issues will find their expression not simply in making more environmental constraints.”

Kashagan’s total expected costs have already ballooned from $57bn (?39bn) to $136bn, making it one of the most costly projects under development anywhere in the world today. Further safety measures risk making costs blow out still further.

Mynbayev said that Kashagan was in some ways much simpler than BP’s Gulf of Mexico well: while BP is drilling at a depth of 1.5km, Kashagan is in such shallow water that it almost qualifies as an onshore field. The development is taking place on an artificial island in the North of the Caspian.

But he said that the dangers were in other ways greater. An oil spill in the land-locked Caspian could have more far-reaching environmental consequences as the oil would have nowhere to dissipate, and the extremely high concentrations of sulphur in the Kashagan reservoir mean that a leak would kill anything living nearby. “Obviously we must take all measures to make sure that that doesn’t happen,” he said.

Shell has a 16.8pc stake in the North Caspian Operating Company developing the field, alongside France’s Total, and Italy’s ENI, which is overseeing the development.



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