Kazakhstan Chamber of Commerce in the USA


Kazakhstan Daily News Roundup – April 11, 2011 0

Posted on April 11, 2011 by KazCham


Kazakhstan considering delaying second phase of Kashagan development
(SRI) – The Kazakh government may suspend work to expand the Kashagan oil field for three years, the Daily Telegraph reported last week, citing an unidentified official.

Kazakh strongman vows reform in new term
(AFP) – President Nursultan Nazarbayev was on Friday sworn in for a third decade of his strongman rule, vowing to implement reform in the face of Western criticism of Kazakhstan’s democratic standards.


KMG EP names new old boss (SRI)

KMG EP output slightly down in Q1 (SRI)

Uranium One eyes Moscow listing (Bloomberg – Moscow Times)


BTA repays first restructured trade tranche (SRI)

Kazakhstan to invest $10.5 billion in industrial projects in 2011 (SRI)

Kazakhstan’s foreign reserves grow 3.9% in March (SRI)

National Bank of Kazakhstan: Exchange rates April 8, 2011 (Kazakhstan Today)

Indicators – April 8, 2011 (Reuters)


Masimov reappointed PM following Nazarbayev’s inauguration (SRI)

Sensational: Kazakhstan’s thumping election (The Economist)

In Kazakhstan, a good old-fashioned sham election (New York Times)

An observer’s reflections on the presidential election (EurasiaNet)


ENRC’S Mashkevich launching venture to rival Al Jazeera (AP)


Monthly inflation in Kazakhstan slowed to 0.5% in March, down from 1.5% last month, the State Statistics Agency said last week.

South Korean chemical manufacturer LG Chem is seeking to invest up to $1.3 billion in a Kazakhstan facility to produce 551,000 tons of polypropylene annually, the European Plastics News portal www.europeanplasticsnews.com reported last week.

The average monthly wage amounted to KZT 78,083 ($533) in February, up 17.7% year-on-year in nominal terms and up 8.2% in real terms, the State Statistics Agency said on Friday.

Fitch Ratings has affirmed the Long-term Issuer Default Rating (IDR) for Kazakhtelecom at BB with a Stable outlook, the rating agency said last week.

Kazakhstan plans to increase gold production from current 30 tonnes per annum to 70 tonnes per annum by 2014, Minister of Industry and New Technology Asset Isekeshev said last week.

SOURCE: http://silkroadintelligencer.com/2011/04/11/kazakhstan-daily-news-roundup-april-11-2011/

Kazakhstan Daily News Roundup – March 4, 2011 0

Posted on March 04, 2011 by KazCham

SOURCE: http://silkroadintelligencer.com/2011/03/04/kazakhstan-daily-news-roundup-march-4-2011/


KMG EP boosts 2010 profit 12% on higher oil prices
(Bloomberg) – KazMunaiGas Exploration Production increased 2010 profit by 12% because of increased oil prices and a higher share of income from ventures.

Roxi Petroleum falls 15% as partner cancels $12-million payment (Guardian)


Kazakhstan may sell BTA stake in “people’s IPO”
(SRI) – Kazakh state-owned investment and holding company Samruk-Kazyna may sell part of its stake in BTA Bank as part of the “people’s IPO, central bank chairman Grigoriy Marchenko said on Thursday.

Kazakhstan makes early switch to managed float for tenge
(bne) – Kazakhstan’s central bank has abandoned the trading corridor for the national currency, the tenge, several weeks earlier than planned.

Kazakhstan does not plan to limit or close grain exports (AgriMarket.Info)

National Bank of Kazakhstan: Exchange rates March 4, 2011 (Kazakhstan Today)

Indicators – March 3, 2011 (Reuters)


Kazakhmys sees ‘strong’ copper prices, studies options for ENRC
(Bloomberg) – Kazakhmys rose 3.5% to 1,487 pence at the close in London trading, the biggest one-day gain in a month, after posting a 67% increase in earnings before interest, tax, depreciation and amortization.


Kazakhstan election campaign begins (BBC News)

Kazakh opposition launches ‘Don’t Vote’ campaign (Telegraph)

Social media livening up Kazakhstan’s election season (EurasiaNet)

Kazakhstan Daily News Roundup – February 14, 2011 0

Posted on February 13, 2011 by KazCham


KEGOC, Samruk-Energo, Kazpost to launch “people’s IPO” – Nazarbayev
(SRI) – Kazakh president Nursultan Nazarbayev instructed his government to prepare state-owned Samruk-Energo, Kazakhstan Electricity Grid Operating Company (KEGOC), and Kazpost for domestic initial public offerings by the end of the year as part of the so-called “people’s IPO.”

BTA to list shares in Luxemburg, on KASE
(SRI) – BTA, Kazakhstan’s third-largest bank, intends to list around 16% of its shares in Luxembourg in the form of global depositary receipts (GDRs) within the next two or three months, Reuters reported on Friday, citing a BTA spokeswoman.

Kazakhmys plans $6-billion investment program
(SRI) – Kazakh copper miner Kazakhmys plans to spend $6 billion over the next three to four years to upgrade its metal plants and develop energy and mining projects, the company’s chairman Vladimir Kim said on Friday.


Air Astana plans new international routes Aktau-Istanbul and Aktau-Amsterdam (TREND)

National Bank of Kazakhstan: Exchange rates February 12-14, 2011 (Kazakhstan Today)

Indicators – February 11, 2011 (Reuters)


MPs urge tighter rules after ENRC’s Africa mine deal (Telegraph)

Sunkar seeks partners (Growth Company Investor)


The Kazakhstan election puzzle (Global Post)

Kazakhstan opposition to boycott presidential polls (AFP)

U.S. helps secure Kazakhstan’s Soviet-era nuclear stock (UPI)

SOURCE: http://silkroadintelligencer.com/2011/02/14/kazakhstan-daily-news-roundup-february-14-2011/

Kazakhstan Daily News Roundup – November 22, 2010 0

Posted on November 22, 2010 by KazCham


Kazakhstan accuses Eni of $110-million fraud
(SRI) – Kazakhstan’s authorities accused Eni SpA, the Italian energy group, of a $110-million fraud committed while operating the giant Kashagan offshore project.

Kazakh officials press for review of oil and gas contracts
(SRI) – Kazakh officials pressed for the need to review production sharing agreements (PSAs) with foreign oil and gas majors and harmonize them with the current legislation.

Kazakh bribe defendant is Cold War hero – N.Y. judge
(AP) – A businessman once accused of bribing officials in Kazakhstan was praised as a Cold War hero Friday by a judge who said he helped thousands of Soviet Jews emigrate to the West and played a key role in secret talks between the U.S. and the Soviet Union at the time.


Kazakhs may jail oil executives for ecological damage (Bloomberg)

Environmental damage cased by oil companies in 2010 exceeds KZT5 billion (Interfax)


BTA Bank reports positive 2010 results driven by restructuring (SRI)

Will Kazakhstan stay as flour export leader in 2010/11? (AgriMarket.Info)

Government not to support enterprises that are on the verge of bankruptcy – Deputy PM (Interfax)

National Bank of Kazakhstan: Exchange rates Novembver 20-22, 2010 (Kazakhstan Today)

Indicators – November 19, 2010 (Reuters)


Taking on Kazakhstan’s Kafkaesque bureaucracy with Soviet-style samizdat (EurasiaNet)

Nation-hopping Kazakh trio thrown out of hockey tournament (Reuters)


Turkmenistan says wins backing for gas to Europe (Reuters)

Caspian states may impose sturgeon fishing ban – Moscow (AFP)

Azerbaijan frees second critical blogger (Reuters)

Kazakhstan Daily News Roundup – September 30, 2010 0

Posted on September 30, 2010 by KazCham


Chevron-led Kazakh venture with Exxon doubles oil-extraction tax payments
(Bloomberg) – Chevron Corp.’s Kazakh oil venture, the country’s biggest exporter of the fuel, more than doubled crude extraction tax payments as the government seeks a larger share of resource revenue.

Kazakhstan Temir Zholy launches $700-million bond at 6.375% – Reuters
(SRI) – Kazakhstan Temir Zholy, the state-owned railway operator, has launched a $700 million 10-year Eurobond at 6.375% and received investor bids of over $8 billion for the issue, Reuters reported on Wednesday citing a source at one of the lead managers.

Metro opens second store in Kazakhstan
(SRI) – German retailer Metro Cash & Carry opened its second Kazakh store on Wednesday in Almaty, following the opening of its first outlet last year in Astana.


Lukoil, China National to expand exploration cooperation, may swap assets (Bloomberg)

Japan firms to provide nuclear estimates to Kazakhstan (Reuters)

Kazakh-Chinese company wins tender for drilling operations at Urikhtau field (Interfax)


Kazakh banks may write off as much as 15% of loans, S&P’s Trofimova says (Bloomberg)

BTA Bank has claims against offshore companies affiliated with Eurasia Logistic (Interfax)

National Bank of Kazakhstan: Exchange rates September 30, 2010 (Kazakhstan Today)

Indicators – September 29, 2010 (Reuters)


Kazakh court refuses to issue warrant for minister’s arrest (RFE/RL)

Kazakh-South Korean military ties deepen (UPI)

SOURCE: http://silkroadintelligencer.com/2010/09/30/kazakhstan-daily-news-roundup-september-30-2010/

Kazakhstan Daily News Roundup – September 14, 2010 0

Posted on September 14, 2010 by KazCham


Kazakhstan sees 2011 oil output at 81 million tonnes (Reuters)

BG, Eni-led Kazakh venture engineer gunned down near his home (Bloomberg)

CPC October program at 2.877 million tons, up 172,500 tons on month (Dow Jones)

BMB Munai reaches restructuring agreement (PR Newswire)

Tethys begins oil sales in Kazakhstan under test scheme (Proactive Investors)

Ukrainian-Kazakh construction of LNG terminal postponed – official (Interfax – Kyiv Post)


BTA says $5 billion in Russian loans “problematic” (SRI)

Chagala revenues jump in H1 (SRI)

Kazakh companies should invest at home – Samruk-Kazyna (New Europe)

Kazakhstan coal supplies to Russia threatened by lack of rail cars (RIA Novosti)

Kazakhstan not to impose limitations for grain exports (AgriMarket.Info)

Kazakhstan to supply 1.5 million tonnes of grains to Russia (AgriMarket.Info)

KTZh to receive $665,000 from USTDA to improve rail infrastructure (Interfax)

Kazakhstan falls five places in Global Competitiveness Report (Interfax)

Kazakhstan to start introducing EU construction standards in 2011 (Interfax)


ENRC steps up defence of Congo deal (Financial Times)

Kazakh Jan-Aug copper output rises 7.8% year-on-year (Reuters)


Kazakh president’s confidant dies (Reuters)

SCO exercises in Kazakhstan to train new counter terrorism techniques (Itar-Tass)


20 militants killed on Tajik-Afghan border – official (AFP)

Wildfires destroy over 400 homes in Siberia (Reuters)

Georgia eyes tourist future for one-time rebel hotspot (AFP)

SOURCE: http://silkroadintelligencer.com/2010/09/14/kazakhstan-daily-news-roundup-september-13-2010/

Kazakhstan Daily News Roundup – September 3, 2010 0

Posted on September 03, 2010 by KazCham


BTA Bank completes debt restructuring
(SRI) – BTA Bank, Kazakhstan’s third-largest lender, said on Wednesday it had completed the restructuring of its $16.7-billion debt, reducing its liabilities to $4.2 billion.

A bazaar business
(bne) – Border closures after the Kyrgyz revolution and Kazakhstan’s entry into the Customs Union with Russia have presented challenges for Central Asia’s hundreds of thousands of bazaar vendors and shuttle traders this year. But the region’s multi-billion-dollar bazaar trade has always proved to be enormously flexible.

Vale to explore for Kazakh copper, gold with Tau-Ken Samruk
(SRI) – Vale SA, the world’s largest iron ore producer, will search for copper and gold in Kazakhstan together with Tau-Ken Samruk, the state-owned mining holding, Bloomberg reported on Thursday citing a government official.


Pavlodar refinery net income rises in H1 (SRI)

CPC revises up September crude shipments 5% to 2.7 million tons (Dow Jones – NASDAQ)

Tethys Petroleum up 3.5% on Kazakhstan operations update (Proactive Investors)

Max Petroleum gets extension to Blocks A&E licence exploration period (Oil and Gas Eurasia)

Kazakhstan to develop regulations for operation and safety of oil pipelines – PGO (Interfax)


Halyk to buy back shares from government by end of 2010 – CEO (SRI)

Tau Capital buys stake in Kazakh pharma distributor (SRI)

Kazakh leader urges restraint in public spending (Reuters)

Kazakh grain looks beyond drought to new markets (Reuters – Forexyard)

Kazakh Ministry of Industry terminated 43 subsoil use contracts since January 2010 (Interfax)

Kazakhstan to double exploration funds in 2011 (Interfax)

Kazakhstan to tighten banking controls (RIA Novosti)

Ulf Wokurka appointed new Head of Deutsche Bank Kazakhstan (The Financial)


Kazakhstan hopes KazakhGold conflict will be resolved by September (RIA Novosti)


Kazakhstan to prepare everything for OSCE summit – Nazarbayev (Itar-Tass)

SOURCE: http://silkroadintelligencer.com/2010/09/03/kazakhstan-daily-news-roundup-september-3-2010/

Kazakhstan Daily News Roundup – August 25, 2010 0

Posted on August 25, 2010 by KazCham


U.S. judge rejects BTA Bank’s bid to stop lawsuit
(SRI) – A federal bankruptcy judge has denied BTA Bank’s attempt to use U.S. bankruptcy law to shield it from an overseas legal proceeding, a ruling that limits the reach of the U.S. bankruptcy court in foreign insolvency disputes.

CPC may borrow $1 billion to fund expansion
(SRI) – The Caspian Pipeline Consortium (CPC) plans to invest up to $4.6 billion by 2014 to increase the capacity of the CPC pipeline which connects oil fields in western Kazakhstan with the Russian Black Sea port of Novorossiisk, CPC head Aleksander Tarakanov said on Tuesday.

Kazakhstan first in, first out of crisis (bne)


Average grain yield in Kazakhstan (AgriMarket.Info)

National Bank of Kazakhstan: Exchange rates August 25, 2010 (Kazakhstan Today)


KazakhGold initiates unscheduled tax audit of Kazakhaltyn subsidiary (Interfax)


Nazarbayev appoints new head of National Security Committee (Itar-Tass)

Ministries of Internal Affairs and Emergency Situations to devise migration regulation plan (Interfax)

Kazakh official injured in drive-by shooting (RFE/RL)

SOURCE: http://silkroadintelligencer.com/2010/08/25/kazakhstan-daily-news-roundup-august-25-2010/

Kazakhstan Daily News Roundup – August 24, 2010 0

Posted on August 24, 2010 by KazCham


Kazakhstan first in, first out
(bne) – Predictions that Kazakhstan would be first in, first out of the crisis have proved to be not far from the truth. The rise in commodity prices over the last year has boosted the natural resources sector, which has in turn dragged the rest of the economy, including the banking sector, along with it.

PetroKazakhstan and Lukoil end ownership dispute over Kazakh oil field
(SRI) – Russian Lukoil signed an agreement with PetroKazakhstan, a Kazakh-Chinese joint venture, that will pay the Russian oil company about $438 million in damages to bring an end to a prolonged ownership dispute over the Kazakh Turgai Petroleum oil venture.

Kazakhstan ready to increase grain exports to drought-stricken Russia
(SRI) – Kazakhstan is ready to supply up to 2 million tonnes of grain to Russia this season, about 25% of its total exports, as Russia may face shortage caused by prolonged heat wave and draught, Reuters reported last week.


KMG EP first-half income falls 22% on forex (SRI)

KazMunaiGas said to plan joint exploration venture with BG in North Sea (Bloomberg)

Tax police to complete KPO tax probe in two weeks (Interfax)

Tethys Petroleum: Kazakhstan Kul-Bas exploration period extended (Marketwire)


Kazakhstan pushes Islamic finance post-crisis (Reuters)

BTA issues shares as part of restructuring (SRI)

ATF reports losses in January – July (SRI)

Financial police probing alleged misappropriation of KZT58.7 million at Almaty Airport (Interfax)

Kazakhstan to build new crop-duster aircraft (RIA Novosti)

National Bank of Kazakhstan: Exchange rates August 24, 2010 (Kazakhstan Today)


ENRC buys into disputed Congo project (Financial Times)

Alhambra, John Komarnicki and Hillcrest Investments announce conversion of secured debentures into shares (Marketwire)

Alhambra closes $4.6-million first tranche of $6.0-million equity financing (Marketwire)


Ablyazov asylum case could lead to rift with Kazakhstan (Telegraph)


Tajik borders tightened after deadly jailbreak (AFP)

Southern Kyrgyz mayor challenges government authority (AP)

Azerbaijan Supreme Court rejects bloggers’ appeal – lawyer (AFP)

SOURCE: http://silkroadintelligencer.com/2010/08/24/kazakhstan-daily-news-roundup-august-24-2010/

Kazakhstan Daily News Roundup – August 9, 2010 0

Posted on August 09, 2010 by KazCham


BTA back from brink but still has legacy issues

(bne) – With its $11-billionn debt restructuring agreed, BTA Bank, once Kazakhstan’s largest lender, is set to resume its position as a serious competitive force within the sector.

Kazakh bribe case fizzles; Giffen pleads to tax count

(AP) – A businessman once accused of paying tens of millions of dollars in bribes to officials in Kazakhstan pleaded guilty Friday to a misdemeanor tax count.


Kazakhstan faces dismal harvest as drought devastates crops (EurasiaNet)

No need for grain export embargo – Kazakhstan (AgriMarket.Info)

Kazakh President assigns government to ensure stability of prices for bread and flour (Interfax)

National Bank of Kazakhstan: Exchange rates August 7-9, 2010 (Kazinform)


ENRC Q2 ferroalloy, iron ore output surges (Reuters)

Kazakhstan miners oppose export tax (Steel Guru)


OSCE to hold next summit on December 1-2 in Astana (Interfax)

State official in East Kazakhstan ignored utility bills over 10 years – utility service (Interfax)


Kazakhstan plans homegrown ‘Borat’ sequel – report (AFP)

In Kazakhstan’s energy hub, profits slow to trickle down (EurasiaNet)


Fears over plan to sell strategic Georgian pipeline (AFP)

Iran wants cooperation with Afghanistan, Tajikistan (AP)

‘Attempted coup’ rocks tense Kyrgyzstan (AFP)

SOURCE: http://silkroadintelligencer.com/2010/08/09/kazakhstan-daily-news-roundup-august-9-2010/

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