Kazakhstan Chamber of Commerce in the USA

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Kaspi Bank shareholders to set up new holding company 0

Posted on October 23, 2011 by Alex

Kaspi Bank, Kazakhstan’s eighth largest bank, said on Monday that the National Bank of Kazakhstan had approved an application of its shareholders to create a new Kazakhstan-registered holding company to manage their banking assets. Caspian Financial Group, the new  holding  company, will replace Dutch  Caspian  Group BV, which held roughly 95% of shares in the bank.  Just like the Dutch investment vehicle, the new holding will be jointly owned by the Baring Vostok Private Equity Fund III and Kaspi’s chairman, Vyacheslav Kim.

“The main and only activity of the holding will be the ownership and management of its financial assets. At the moment, it is [only] Kaspi Bank, but we do not rule out the possibility of expanding the range of financial services offered to our clients,” Kaspi Bank CEO Michael Lomtadze was quoted as saying in the statement.

SOURCE: http://silkroadintelligencer.com/wp-content/files/srikznewsbrief_oct19_2011.pdf

Kazakhstan Daily News Roundup – May 10, 2011 0

Posted on May 10, 2011 by KazCham

HEADLINES:

Glencore to increase stake in Kazzinc; Kazakh presidential advisor to reap profits
(SRI) – Glencore, the Swiss commodity trader which is poised to complete a record $11-billion IPO this month, is set to increase its stake in Kazakh miner Kazzinc and make a close presidential advisor a billionaire in the process.

Kazakh leaders talk up upcoming “people’s IPO”
(SRI) – The “people’s IPO” privatization program will be implemented transparently and will provide equal access to all Kazakh participants, head of the state holding and investment company Samruk-Kazyna, Timur Kulibayev, said on Friday.

On the move: government, KazMunaiGas, KaR-Tel
(SRI) – Kazakh President Nursultan Nazarbayev made several senior level appointments last week, the presidential press office reported.

ENERGY:

Tethys exploratory wells under test (Oil and Gas Journal)

BUSINESS AND ECONOMY:

Kaspi Bank Q1 profit rises to $10 million (SRI)

Temirbank reports $6.1-million first-quarter income (SRI)

Kazakhstan’s foreign reserves grow 5.9% in April (SRI)

Monthly inflation 0.5% in April (SRI)

EPC approves 7% economic growth plan (Interfax)

Indicators – May 6, 2011 (Reuters)

METALS AND MINING:

ENRC shareholders want board to face election, FT says (Bloomberg)

Frontier Mining acquires new deposit to expand Benkala copper mine (Proactive Investors)

POLITICS:

Kazakhs appoint new customs chief after China smuggling probe (Bloomberg)

REGIONAL:

Central Asian nations feel the pinch of dwindling fuel supplies as Russia tightens supplies (AP – Washington Post)

China, Kyrgyzstan, Tajikistan hold anti-terror drill

(AFP)

Kazakhstan Daily News Roundup – October 18, 2010 0

Posted on October 18, 2010 by KazCham

HEADLINES:

Kazakhstan sees first Islamic bond by year-end
(bne) – After a lengthy delay, the government is on track to issue Kazakhstan’s first sovereign sukuk, or Islamic bond, before the end of this year – a key step in the country’s desire to become a regional financial hub, says Arken Arystanov, head of the Regional Financial Centre of Almaty City (RFCA).

ENERGY:

KazMunaiGas to issue $680-million bond on KASE (SRI)

Kashagan production seen by 2013 (New Europe)

KazMunaiGas, CNPC plan pipeline JV for Q4 2010 (Oil and Gas Eurasia)

Ukraine may build power stations in Kazakhstan (Interfax – Kyiv Post)

BUSINESS AND ECONOMY:

Jan-Aug GDP up 7.9% year-on-year (SRI)

Kazakhstan, Hong Kong billionaires plan fund – Kazakh PM (Bloomberg)

Kazakh tenge may advance 3.9% next year on inflation, oil – Citigroup (Bloomberg)

Kazakhstan exported 2.2 million tonnes of grains in current marketing year (AgriMarket.Info)

Kazakhstan may introduce income declaration before 2016 (Interfax)

Kaspi Bank keeps plans for external borrowings on hold (Interfax)

Kazakhstan to trim civil service personnel by 26,000 (Interfax)

National Bank of Kazakhstan: Exchange rates October 16-18, 2010 (Kazakhstan Today)

Indicators – October 15, 2010 (Reuters)

METALS AND MINING:

ENRC planning to boost African copper output by more than six-fold by 2013 (Bloomberg)

Kazakh potash `wild card’ firm Satimola seeks $100-million IPO in 2011 (Bloomberg)

POLITICS:

Turkey trains Kazakh troops – minister (Today’s Zaman)

Kazakhstan and NATO to develop cooperation in order to maintain regional security (Interfax)

SOCIETY:

Storck to quit as Kazakh coach (AFP)

REGIONAL:

U.S. ready for talks with Kyrgyzstan on base

(AFP)

Kyrgyz parties agree vote recount after protests (Reuters)

Kazakhstan Daily News Roundup – September 29, 2010 0

Posted on September 29, 2010 by KazCham

HEADLINES:

Mittal sells stake in Kazakh oil company to Chinese Sinopec
(SRI) – Mittal Investment Sarl, the investment vehicle of India’s steel tycoon Lakshmi Mittal, sold its stake in Kazakhstan-focused oil company Caspian Investment Resources to Chinese Sinopec for an undisclosed sum, local media reported on Tuesday.

Bank of China lends $232 million to KMG, Citic joint venture
(SRI) – Bank of China Ltd. has agreed to lend $232 million to the joint venture of Kazakhstan’s KazMunaiGas and Chinese Citic Group to build a bitumen plant in Aktau.

Kaspi Bank to boost lending by up to 15% in 2010 – CEO
(SRI) – Kaspi Bank, Kazakhstan’s eighth largest bank, plans to grow its loan portfolio by 10-15% in 2010 as it expects to rebound from last year’s net loss, the bank’s CEO Mikhail Lomtadze told Reuters.

ENERGY:

Max Petroleum to drill well at Asanketken (SRI)

Russia, Kazakhstan plan to develop renewable energy industry (RIA Novosti)

BUSINESS AND ECONOMY:

Airstream arranges ERJ-145 delivery to Kazakhstan (ERAA)

National Bank of Kazakhstan: Exchange rates September 29, 2010 (Kazakhstan Today)

Indicators – September 28, 2010 (Reuters)

METALS AND MINING:

New rebar mini-mill commissioned in southern Kazakhstan (SteelOrbis)

Alhambra closes oversubscribed equity financing for $8 million (Marketwire)

POLITICS:

Kazakhstan’s president confidence rating high (Interfax)

Issues of opposing nuclear terror financing discussed in Astana (Itar-Tass)



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