Kazakhstan Chamber of Commerce in the USA


Kazakhstan Daily News Roundup – October 25, 2010 0

Posted on October 25, 2010 by KazCham


KazMunaiGas EP discovers oil in western Kazakhstan
(SRI) – KazMunaiGas Exploration Production (KMG EP), the upstream-focused subsidiary of the Kazakh national oil company, said on Friday it had struck oil at the Liman Block in western Kazakhstan.

Moody’s downgrades debt rating of four Kazakh banks
(SRI) – Moody’s, the credit rating agency, downgraded last week the long-term senior unsecured and subordinated debt ratings of Kazkommertsbank, Halyk Bank, Bank CenterCredit (BCC), and Alliance Bank.

ATF Bank appoints new CEO
(SRI) – ATF Bank, a subsidiary of Italian Unicredit Group and Kazakhstan’s fifth largest bank, named Romeo Collina the new chief executive officer last week replacing Alexander Picker.


Kelimbetov on KazMunaiGas IPO – video (Bloomberg)

Kazakh oil workers strike over detained union activist (RFE/RL)

World Petroleum Council will hold next meeting in Astana in 2012 (Interfax)


Kazakhstan seeks to strengthen ties with EU (Dow Jones)

Almaty subway line tested for first time (RFE/RL)

Agency for Local Content Development complains subsoil users don’t buy enough products offered by domestic light industry (Interfax)

Indicators – October 22, 2010 (Reuters)


KazakhGold must end rows before Polyus deal – government (Reuters)


Kazakh opposition leader announces plan to run for presidency (RFE/RL)


Russia may join pipeline through Taliban area (AFP)

Hundreds rally in Kyrgyzstan against security boss (AP)

Turkmenistan keen to boost gas exports to Russia – president (AFP)

SOURCE: http://silkroadintelligencer.com/2010/10/25/kazakhstan-daily-news-roundup-october-25-2010/

Kazakhstan Daily News Roundup – September 7, 2010 0

Posted on September 07, 2010 by KazCham

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 27, 2010 0

Posted on August 27, 2010 by KazCham


Kazakhmys warns on costs after H1 EPS rises 130%
(Reuters) – Kazakh copper miner Kazakhmys posted an expected 130% rise in underlying first-half earnings per share on higher prices and warned about rising costs in the second half.

Bank CenterCredit net income falls by half in H1
(SRI) – Bank CenterCredit (BCC), Kazakhstan’s fifth largest bank, said its net profit was KZT2.0 billion ($13.4 million) in the first six months of 2010, down 48.2% year-on-year, according to its IFRS consolidated financial results.

Samruk-Kazyna files claim against BTA over loans (SRI)


Zhaikmunai completes first oil shipment via Ukrainian Black Sea port (SRI)


BTA Bank commences distribution of entitlements (Interfax)

Kazakhstan to extend grain sales market (AgriMarket.Info)

IFC helps Kazakh poultry business expand production, improve standards (Media Newswire)

National Bank of Kazakhstan: Exchange rates August 27, 2010 (Kazakhstan Today)


KazakhGold issues statement on tax audit (Tax-News.com)

Alhambra announces financial and operating results for Q2 (Marketwire)


Rotating statue of late Turkmen dictator removed (AP)

Exxon Mobil to open Turkmenistan office in race for Central Asian reserves (Bloomberg)

SOURCE: http://silkroadintelligencer.com/2010/08/27/kazakhstan-daily-news-roundup-august-27-2010/

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 17, 2010 0

Posted on August 17, 2010 by KazCham


Cost control key to Kashagan second phase – Mynbayev
(SRI) – Cost control will be key during the second phase of development of the Kashagan oil field, local news agencies quoted Oil and Gas Minister Sauat Mynbayev as saying.

No provision for maximum depth in Tengzichevroil contract – Mynbayev
(SRI) – The contract under which a Chevron-led consortium is developing the Tengiz oil field does not restrict the depth of its drilling activities, Kazakh Minister of Oil and Gas of Kazakhstan Sauat Mynbayev said on Monday.

Trade surplus up threefold in H1 2010
(SRI) – Kazakhstan’s foreign trade surplus reached $16.7 billion in the first half of 2010, up more than threefold from $4 billion dollars in the first half of 2009 , the State Statistics Bureau said Friday.


Kazakhstan’s oil export duty in force (SRI)

Tethys Petroleum announces updates on operations in Central Asia (Proactive Investors)


Eurocopter ready to set up helicopter production JV in Kazakhstan (Interfax)

Hryvnia, tenge may gain 6% as food prices fuel inflation – UniCredit (Bloomberg)


Kazakhgold’s subsidiary loses appeal to unfreeze bank accounts (SRI)


President Nazarbayev holds a meeting to get ready for OSCE summit in Astana (Interfax)


Kyrgyz army involved in mob violence – right group (AP)

Chevron, Conoco, Bush brother’s company may get Caspian exploration rights (Bloomberg)

SOURCE: http://silkroadintelligencer.com/2010/08/17/kazakhstan-daily-news-roundup-august-17-2010/

Kazakhstan Daily News Roundup – August 4, 2010 0

Posted on August 04, 2010 by KazCham


BTA Bank reports net loss of $796 million in H1
(SRI) – Kazakhstan’s BTA Bank reported a 2010 first-half net loss of KZT117.137 billion ($796 million), compared to a net loss of KZT1.518 trillion ($10.3 billion) in the same period of 2009.

Account freeze escalates KazakhGold dispute
(Reuters) – Financial police in Kazakhstan have frozen accounts of KazakhGold’s (KZGq.L) main operating unit, the latest step in a legal battle frustrating plans by the company’s Russian owners to create a London-traded mining giant.

CPC shipments up 13% month-on-month in July
(SRI) – The Caspian Pipeline Consortium (CPC), which transports Kazakh and Russian crude to the Black Sea via the CPC pipeline, shipped 3.002 million tons of crude oil in July, up 12.8% from June (2.661 million tons), Russian RIA Novosti news agency reported.


July inflation 0.2% – statistics agency (SRI)

Kazakh Ministry of Agriculture raises grain export forecast to 8 million tons for 2010-2011 (Interfax)

Kazakhstan presents its first official website of toursim and travel (Interfax)

National Bank of Kazakhstan: Exchange rates August 4, 2010 (Kazinform)


Nazarbayev University has grand educational vision for Kazakhstan (EurasiaNet)


Parched Russia warns on harvest, wheat prices surge (AFP)

U.S. companies eye Turkmen energy projects – envoy (Reuters)

SOURCE: http://silkroadintelligencer.com/2010/08/04/kazakhstan-daily-news-roundup-august-4-2010/

Kazakhstan Daily News Roundup – July 30, 2010 0

Posted on July 30, 2010 by KazCham


Karachaganak should not pay export duty – BG Group CFO
(SRI) – BG Group believes that Karachaganak Petroleum Operating (KPO) should not be liable for Kazakhstan’s planned export duty, the company’s CFO, Ashley Almanza, told reporters on a conference call on Wednesday.

Kazakhmys H1 output beats forecast on strong demand
(SRI) – Kazakh miner Kazakhmys said its first-half output of finished metal from its own concentrate fell 3.4% but the company beat its guidance and reiterated its full-year target as demand stayed strong.


Ekibastuz GRES-1 income $70 million in H1 2010 (SRI)

Tengizchevroil’s direct payments to Kazakhstan increased by 77% in H1 (Interfax)


CenterCredit probe by financial police shows no violations (SRI)

Bank lending slightly down in H1 – central bank (SRI)

Moody’s downgrades ATF Bank to Ba2 (SRI)

Steppe Cement H1 revenues up 20% in H1 2010 (SRI)

GSM Kazakhstan installs 4G base station in Astana (TeleGeography)

National Bank of Kazakhstan: Exchange rates July 30, 2010 (Kazinform)


Financial police suspects Polyus Gold directors of fraud in KazakhGold deal (Interfax)


The U.S., Kazakhstan and stresses of empire (The Globalist)

Nuclear Center prepares documents for Semipalatinsk nuclear test site land reclamation (Interfax)


Disco fever fails to grip Almaty (EurasiaNet)


Uzbeks flee Kyrgyzstan for Russia (Global Post)

Food crisis next challenge for Kyrgyzstan? (EurasiaNet)

U.S. aims to expand its presence in Uzbekistan (CACI Analyst)

SOURCE: http://silkroadintelligencer.com/2010/07/30/kazakhstan-daily-news-roundup-july-30-2010/

Kazakhstan Daily News Roundup – July 29, 2010 0

Posted on July 29, 2010 by KazCham


KMG EP first half crude output up 11 percent
(SRI) – KazMunaiGas Exploration and Production (KMG EP) increased crude oil output by 11 percent year-on-year in the first half of 2010, following the acquisition of a stake in PetroKazakhstan, the company said on Wednesday.

Tengizchevroil produces 12.5 million tonnes in H1 2010
(SRI) – Tengizchevroil (TCO), the Chevron-led venture developing the giant Tengiz oil field, produced 12.5 tonnes of crude oil and 4 billion cubic meters of gas in the first half of 2010, the company said on Wednesday.


Export duty variable, based on price – Masimov (SRI)

CPC to hold tenders for expansion by end of 2010 – Transneft (SRI)

U.S. looks forward to settlement of TCO dispute (Interfax)

U.S. special envoy dismisses critical remarks over Nabucco project (Interfax)


Polyus reverse takeover may boost market value (Bloomberg – Moscow Times)

KazakhGold investors approve annulment of Eurobond covenants (RBC News)


Kazakhstan turns to sukuk after Eurobond offering dropped (Bloomberg)

National Bank of Kazakhstan: Exchange rates July 29, 2010 (Kazinform)

SOURCE: http://silkroadintelligencer.com/2010/07/29/kazakhstan-daily-news-roundup-july-29-2010/

Kazakhstan Daily News Roundup – July 26, 2010 0

Posted on July 26, 2010 by KazCham


KazMunaiGas partners up with Shell on Kashagan production
(SRI) – KazMunaiGas (KMG), Kazakhstan’s state oil and gas company, said on Friday that it has signed a partnership agreement with Royal Dutch Shell Plc to jointly manage production at the Kashagan oil field in the Caspian Sea.

KazakhGold refunds VAT to Kazakhstan’s budget
(SRI) – KazakhGold Group has refunded a KZT4.7 billion ($32-million) Value-Added Tax (VAT) to Kazakhstan’s state budget after the company discovered that it had been improperly reimbursed under its former management, the company’s press office said on Friday.

Bank lending lags Kazakh recovery (bne)


China’s crude exports from Kazakhstan up 45 percent in H1 2010 (SRI)

Kazakhstan, Russia set up JV to build NPP in Mangystau region (Itar-Tass)

Petrokazakhstan suits settled (Calgary Herald)


National Bank of Kazakhstan: Exchange rates July 24-26, 2010 (Kazinform)


Turkey extradites Kazakhstan’s former antidrug czar (RFE/RL)

SOURCE: http://silkroadintelligencer.com/2010/07/26/kazakhstan-daily-news-roundup-july-26-2010/

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