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Kazakhstan Daily News Roundup – August 11, 2010 0

Posted on August 11, 2010 by KazCham

HEADLINES:

Alliance posts $2 billion H1 profit on restructuring
(SRI) – Alliance Bank, one of Kazakhstan’s recently restructured banks, posted a net profit of KZT298.9 billion ($2 billion) in the first half of 2010, mainly driven by income resulting from its debt restructuring.

Kazakh mining association opposes export tariffs
(SRI) – The Kazakhstan Association of Mining and Metallurgic Enterprises (AMME) has criticized the introduction of a minerals export tax and said that a profit-based tax would be preferable.

ATF Bank reports $120 million H1 loss
(SRI) – ATF Bank, Kazakhstan’s fourth-largest bank, posted a net loss of KZT17.6 billion ($120 million) in the first six months of 2010, compared to a net profit of KZT3.2 billion ($22 million) in the same period of 2009.

BUSINESS AND ECONOMY:

Moody’s assigns B3 to subordinated bonds of Kazinvestbank; stable outlook (Moody’s)

Accounts Committee critical of Air Astana performance (Interfax)

Mineral resource companies to start using electronic procurement system from October 1 (Interfax)

National Bank of Kazakhstan: Exchange rates August 11, 2010 (Kazakhstan Today)

METALS AND MINING:

Kazakhaltyn may stop work from August 16 over frozen accounts (RIA Novosti)

SOURCE: http://silkroadintelligencer.com/2010/08/11/kazakhstan-daily-news-roundup-august-11-2010/



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