Kazakhstan Chamber of Commerce in the USA

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Kazakhstan Daily News Roundup – May 4, 2011 0

Posted on May 04, 2011 by KazCham

ENERGY:

CPC expansion, regardless of Bosporus bypass – KMG head (New Europe)

World Wide comments on Kazakhstan arbitration (Marketwire)

BUSINESS AND ECONOMY:

Kazakhstan tries to beef up exports
(bne) – Kazakhstan wants to take advantage of its proximity to the world’s largest beef importers. The country’s abundance of pastureland and history of nomadic herding is a good start, but investment in modern technologies and good breeding stock are going to be equally important.

Mittal rumored to buy KazStroyService
(SRI) – Lakshmi Mittal, the India-born billionaire, plans to buy a 35% stake in Kazakh engineering, procurement and construction firm KazStroyService, India’s Business Standard reported on Sunday.

A new Silk Road beckons from Central Asia, igniting dreams in Kazakhstan
(Washington Post) – A thousand years after the Silk Road began disappearing into the wind-blown steppe, the people of Kazakhstan are awaiting a modern, paved, high-speed version carrying 21st-century jewels such as jobs, indoor plumbing and connections to the global economy.

Kelimbetov to end stint on Sberbank’s supervisory board (SRI)

Kazakhstan to raise per capita income by 50% by 2016 – Nazarbayev (SRI)

Halyk posts biggest first-quarter profit among Kazakh lenders (Bloomberg)

Venus Airport Investments takes over Almaty airport (Interfax)

Kazakh president wants ‘road map’ for new international currency (RFE/RL)

Indicators – May 3, 2011 (Reuters)

POLITICS:

Obama, Kazakh leader talk ‘democratization’
(AFP) – President Barack Obama spoke with the Kazakh leader Saturday about the central Asian country’s need for “greater democratization,” the White House said in a statement.

Kazakhs ratifies agreement with US on air transit of supplies and troops (AP)

Two former top Kazakh judges detained for suspected corruption (RFE/RL)

SOCIETY:

Magnitude 5.4 earthquake hits Kazakhstan – USGS (Reuters)

SOURCE: http://silkroadintelligencer.com/2011/05/04/kazakhstan-daily-news-roundup-may-4-2011/

KazStroyService to acquire 27 percent of Zhaikmunai 0

Posted on May 06, 2010 by KazCham

SRI) – Kazakh authorities have approved a bid by KazStroyService Global BV to acquire 27 percent of the London-traded oil company Zhaikmunai LP.

“Completion of the acquisition […] is expected to occur shortly,” Zhaikmunai said in a statement on Tuesday.

Claremont Holdings Ltd., controlled by Zhaikmunai’s chairman, Frank Monstrey, agreed to sell 50 million global depositary receipts (GDRs) for $200 million to the affiliate of JSC OGCC KazStroyService, a construction company building a gas treatment plant for the oil producer, Zhaikmunai said in November.

KazStroyService is reportedly controlled by Timur Kulibayev, President Nursultan Nazarbayev’s son-in-law. Kulibayev is the Deputy CEO of Kazakhstan’s state-owned investment and holding company Samruk-Kazyna.

Zhaikmunai announced last month it plans to issue a debut Eurobond later this year. Citigroup, ING and JP Morgan are reportedly arranging the offering.

SOURCE: http://silkroadintelligencer.com/2010/05/05/kazstroyservice-to-acquire-27-percent-of-zhaikmunai/



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