Kazakhstan Chamber of Commerce in the USA


Kazakhstan Daily News Roundup – May 11, 2011 0

Posted on May 11, 2011 by KazCham


Mining a rich seam
(bne) – The rally in global commodity prices that started in late 2009 and persisted throughout last year has put Kazakhstan’s mining sector back on track after some severe setbacks during the international economic crisis.

Central bank to enter into currency swaps with China, Russia to ease trade
(SRI) – Kazakhstan plans to carry out currency swaps with the Russian and Chinese central banks to ease trade with the two countries, National Bank chairman Grigoriy Marchenko said on Tuesday.

Economy expands by 6.9% in Jan-Apr
(SRI) – Kazakhstan’s economy expanded by 6.9% year-on-year in the first four months of 2011, Prime Minister Karim Masimov announced on his Twitter page, referring to the most recent figures released by the State Statistics Agency.


KazMunaiGas EP boosts Q1 net on high oil price
(Reuters) – KazMunaiGas Exploration Production boosted first-quarter net profit by 14% year-on-year due mainly to higher oil prices, the company said on Tuesday.


BTA Bank can continue $4-billion Ablyazov case, judge rules
(Bloomberg) – BTA Bank, the bailed-out Kazakh lender seeking to recover assets for international creditors, can continue its $4 billion fraud lawsuit against ousted Chairman Mukhtar Ablyazov, a U.K. judge ruled.

Kazakhstan vows to reduce business red tape (RIA Novosti)

Kazakh government to draft backup plan to respond to slump in export prices (Interfax)

HRW says Philip Morris is working to improve working standards for labourers in Kazakhstan(AP)

Indicators – May 10, 2011 (Reuters)


Astana powerbrokers wrestling with the succession issue (EurasiaNet)

SOURCE: http://silkroadintelligencer.com/2011/05/11/kazakhstan-daily-news-roundup-may-11-2011/

Kazakhstan Daily News Roundup – May 6, 2011 0

Posted on May 06, 2011 by KazCham


Kazkommertsbank launches $750-million Eurobond
(SRI) – Kazkommertsbank, Kazakhstan’s largest lender, has opened the order book for a $750-million Eurobond issue with a maturity of up to seven years, its subsidiary and organizer of the issue, Kazkommerts Securities, said on Thursday.

Government to present “people’s IPO” plan by June 1 – PM
(SRI) – Kazakhstan’s government will present a concrete plan for the implementation of the planned “people’s IPO” By June 1, Prime Minister Karim Masimov wrote on his blog on Thursday.


KazMunaiGas EP approves KZT800 dividend
(Reuters) – KazMunaiGas Exploration Production’s shareholders have approved a dividend of KZT800 per share for 2010, the highest since the oil company was floated in 2006.


EBRD to invest $1 billion in Kazakhstan in 2011- Finance Minister (SRI)

Air Astana leases three aircraft from ALC (SRI)

Sberbank Kazakhstan triples Q1 income (SRI)

Kazakhstan: Russia pressing for clean-up at China border crossing (EurasiaNet)

Kazakhstan to strengthen economic partnership with EU (Interfax)

Indicators – May 5, 2011 (Reuters)

SOURCE: http://silkroadintelligencer.com/2011/05/06/kazakhstan-daily-news-roundup-may-6-2011/

Kazakhstan Daily News Roundup – March 14, 2011 0

Posted on March 14, 2011 by KazCham

SOURCE: http://silkroadintelligencer.com/2011/03/14/kazakhstan-daily-news-roundup-march-14-2011/


KMG EP to buy 50% stake in Kazakh oil block
(SRI) – KazMunaiGas Exploration Production (KMG EP) announced on Friday it will plans to acquire a 50% stake in Ural Group Ltd, which owns the exploration license for the Fedorovskiy oil and gas block near the city of Uralsk in northwestern Kazakhstan, for $149.1 million.

KazMunaiGas asks banks for $1-billion loan
(Reuters) – Kazakh state oil and gas company KazMunaiGas has asked international banks to submit proposals for a $1 billion five-year unsecured loan, banking sources said on Friday.

Kazatomprom to construct solar panel plant
(SRI) – Kazatomprom, Kazakhstan’s national uranium miner, plans to spend KZT34 billion ($233 million) to build a solar-batteries plant in Astana.

Interview transcript with David Robson, President and CEO of Tethys Petroleum (Proactive Investors)

AES hoping for amicable settlement of conflict over investment commitments (Interfax)

KMG expects feasibility study for modernization of Shymkent refinery to be ready in Q2 (Interfax)


Kazakhstan to ramp up economic relations with Turkey (SRI)

Long-term credit ratings for Kazakhstan banks (Reuters)

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

Indicators – March 11, 2011 (Reuters)


Astana’s rights record in the spotlight (EurasiaNet)

Kazakhstan election boycott activists assaulted, say attack is politically motivated (AP)


Goga Ashkenazi: By royal ascent (Independent)

Kazakh president’s grandson joins Astana football team (Telegraph)


Police break up opposition rally in Azerbaijan (Reuters)

U.S. cites uprisings in Middle East as it urges democratic reform in Central Asia (AP)

Kazakhstan Daily News Roundup – October 26, 2010 0

Posted on October 26, 2010 by KazCham


Kazkommertsbank registers $2-billion debt issue; at risk of breaching debt covenant
(SRI) – Kazkommertsbank, Kazakhstan’s largest bank, has gained UK approval for issuing debt worth up to $2 billion, the bank said in a disclosure statement on the London Stock Exchange Group website on Monday.

Shell cuts second phase Kashagan development costs by $18 billion – newspaper
(SRI) – Royal Dutch Shell Plc has cut the projected cost of the second phase of the Kashagan oil field development program from $68 billion to $50 billion, The Daily Telegraph reported on Monday, citing a senior Kazakh official.

Central bank buys $2.7 billion on open market in 2010 – Marchenko
(SRI) – The National Bank of Kazakhstan has bought $2.7 billion on the foreign exchange market since the beginning of the year, the bank’s chairman Grigoriy Marchenko said on Monday.


KazMunaiGas EP output declines as workers down tools after heroin arrest (Bloomberg)

S&P upgrades Zhaikmunai to B (SRI)

Tethys Petroleum receives state approval for oil reserves at Doris discovery in Kazakhstan (Proactive Investors)

Kazakhstan to build $16-million wind power plant (Interfax)


Kazakhstan to invest $5.4 billion in industrialization in 2011 (SRI)

Lockheed Martin signs $50-million contract with Kazaeronavigatsia (SRI)

Kazakhstan GDP up 7.5% yr/yr in Jan-Sept (Reuters)

EDB to finance Kazakh grain exports to neighboring countries (Interfax)

French-Kazakh company to assemble Eurocopter helicopters at Astana? (AvioNews)

National Bank of Kazakhstan: Exchange rates October 26, 2010 (Kazakhstan Today)

Indicators – October 25, 2010 (Reuters)


Kazakhstan’s presidential race heats up – two years early (EurasiaNet)

SOURCE: http://silkroadintelligencer.com/2010/10/26/kazakhstan-daily-news-roundup-october-26-2010/

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/

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