Kazakhstan Chamber of Commerce in the USA

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Kazakhstan-born financier to buy Barclays’s Russian bank 0

Posted on October 29, 2011 by Alex

Kazakhstan-born financier Igor Kim  has  emerged as  thefrontrunner to acquire Barclays Bank’s Russian retail subsidiary, Expobank, the  Kommersant business weekly reported on Friday.

Kim and Barclays reportedly  finalized the deal on Friday, according to sources cited by Kommersant.  Kim  outbid Russia’sRenaissance Capital in a  contest to  obtain the asset, after Kazakhstan’s Kazkommertsbank decided last month not to pursue the deal.

Kazakhstan struggles with grain export bottlenecks Kazakhstan has been using all available means to store its grain crop, including rail trucks, as it struggles to find suitable options to export its record harvest.  Kazakhstan, a large landlocked country, historically used Black Sea ports in Russia to ship its grain.

However, Russia faces its own logistical bottlenecks this year as it struggles to deal with its own strong harvest. On Friday, Kazakhstan’s Ministry of Agriculture said the country harvested 28.2 million tonnes of grain on 16 million hectares, or 99% of the total area to be harvested.

SOURCE: Kazakhstan Daily News Brief, dated October 24, 2011 available at http://silkroadintelligencer.com/wp-content/files/srikznewsbrief_oct24_2011.pdf

Kazakhstan Daily News Roundup – September 1, 2011 0

Posted on September 01, 2011 by Alex

ENERGY:

Chinese joint venture buys Kazakh gas field
(SRI) – A Chinese joint venture has agreed to buy the rights to explore and develop the Pridorozhnoye gas field in southern Kazakhstan for $20 million, Chinese newswires reported on Tuesday.

BUSINESS AND ECONOMY:

“People’s IPOs” to expand Kazakh investment universe
(bne) – The range of publicly traded equities for Kazakhstan-focused funds to invest in has so far been limited mainly to the commodity and banking sectors. But the planned “People’s IPO” program is set to change that, ushering in an age of exchange-traded funds.

Russian authorities complete investigation of BTA’s fraudulent real estate deal in Moscow
(SRI) – Russia’s Interior Ministry has completed a preliminary investigation of several Russian businessmen accused of being involved in a $730-million fraud scheme surrounding land deals of Kazakhstan’s BTA Bank in Moscow, RIA Novosti reported Wednesday.

Barclays close to selling Russian subsidiary to Kazkommertsbank – report (SRI)

Kazkommertsbank posts $81.3-million net profit in H1; non-performing loans grow (SRI)

IFC signs currency swap agreement with National Bank of Kazakhstan (SRI)

Indicators – August 31, 2011 (Reuters)

SOCIETY:

Kazakhstan says detains extremists, foils “terror” (Reuters)

REGIONAL:

Uzbekistan shows off Central Asia’s first high-speed train (AFP)

Tajikistan shows off world’s tallest flagpole (Reuters)

SOURCE: http://silkroadintelligencer.com/2011/09/01/kazakhstan-daily-news-roundup-september-1-2011/



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