Kazakhstan Chamber of Commerce in the USA

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Kazakhstan Daily News Roundup – September 14, 2011 0

Posted on September 14, 2011 by Alex

BUSINESS AND ECONOMY:

Astana Finance to sell banking subsidiary
(SRI) – Astana Finance, a large Kazakh financial services company which had defaulted on its debt in 2009, said on Tuesday it plans to sell its commercial banking subsidiary, Bank Astana Finance.

Kazakhstan raises 2011 industrial growth forecast; cuts projected deficit
(SRI) – Kazakhstan raised its 2011 industrial output growth forecast to 6.0% from 4.8%, based on projected growth in mining and processing, and cut its projected 2011 deficit by 0.1% to KZT730.4 billion ($4.95 billion), or 2.8% of GDP.

Kazakhstan to spend KZT5 billion to subsidize grain exports (SRI)

Industrial production slows in Jan-Aug (SRI)

METALS AND MINING:

Kazzinc commissions new copper smelter in Kazakhstan
(SRI) – Kazzinc, a subsidiary of Swiss commodity trader Glencore International, said on Tuesday it has commissioned a new copper smelter in Kazakhstan and will complete the construction of a new lead smelter at the site in the first half of 2012.

Polyus Gold extends deadline for AltynGroup deal (SRI)

POLITICS AND SECURITY:

On the move: Ministry of Defense, Ministry of Agriculture (SRI)

Nazarbayev receives new Italian, Slovak, Estonian, Malaysian ambassadors (SRI)

REGIONAL:

EU kicks off talks on Caspian gas pipeline (AFP)

Russia calls on EU to halt talks on Caspian gas pipeline (Reuters)

Russian, Central Asian militaries to practice counterinsurgency, naval warfare (EurasiaNet)

SOURCE: http://silkroadintelligencer.com/2011/09/14/kazakhstan-daily-news-roundup-september-14-2011/

Kazakhstan Daily News Roundup – August 26, 2011 0

Posted on August 27, 2011 by Alex

ENERGY:

LG Chem to build $4-billion petrochemical plant in Kazakhstan
(SRI) – LG Chem, South Korea’s largest chemical company, signed a $4-billion deal on Thursday to develop a long-planned petrochemical complex in Kazakhstan, the company said in a statement.

Kazakhstan, Korea agree on guarantees for the Balkhash power plant project
(SRI) – Kazakhstan and South Korea signed an “intergovernmental agreement” on Thursday guaranteeing Korean companies a 70% stake in a $4.5-billion project to develop and finance the construction of a coal-fired power plant in the city of Balkhash.

Kazakhmys sells oil unit for $100 million (SRI)

KazMunaiGas, Korean oil consortium sign agreement on drilling rig (SRI)

BUSINESS AND ECONOMY:

Development Bank of Kazakhstan loses $61 million in first half (SRI)

Indicators – August 25, 2011 (Reuters)

METALS AND MINING:

Kazakhmys to buy back $250 million of shares listed in London
(SRI) – Kazakhstan’s Kazakhmys, a London-listed copper miner, said on Thursday its first-half profit before tax declined to $550 million from $631 million in the previous year and announced a share buyback worth up to $250 million.

Kazakhmys approves Bozshakol development project
(SRI) – Kazakhstan’s largest miner Kazakhmys has approved a $1.8-billion development of the Bozshakol deposit, a major copper growth project equivalent to a third of Kazakhmys’ current output, the miner said as it presented its first-half earnings.

Glencore to consider options for gold assets in 2012 (SRI)

Kazzinc accumulates copper concentrate stockpile worth $127 million (SRI)

Kazakhmys welcomes central bank’s decision to buy Kazakh gold (SRI)

REGIONAL:

PetroChina in Dushanzi refinery overhaul – sources (Reuters)

Russian spaceship crashes back to Earth (AFP)

SOURCE: http://silkroadintelligencer.com/2011/08/26/

 

Kazakhstan Daily News Roundup – July 11, 2011 0

Posted on July 10, 2011 by KazCham

Kazakhstan Daily News Roundup – June 23, 2011 0

Posted on June 23, 2011 by KazCham

ANALYSIS:

Strikes cripple oil production at major KMG EP oil fields
(SRI) – KazMunaiGas Exploration Production (KMG EP), the London-traded Kazakh oil company, continues to suffer production losses amid prolonged strikes at two of its major oil fields.

ENERGY:

Samruk-Energo reaches framework agreement with China Exim Bank (SRI)

BUSINESS AND ECONOMY:

Fitch affirms BTA Bank and Alliance Bank ratings (Fitch)

BTA Bank posted net loss last month – central bank (Bloomberg)

Indicators – June 22, 2011 (Reuters)

METALS AND MINING:

Kazakhmys to raise copper output 60% with new deposits
(SRI) – Kazakhmys, Kazakhstan’s largest copper miner, said the expected combined annual copper production at the Bozshakol and Aktogay deposits will be 200,000 tonnes, increasing the company’s copper output by 60%.

Kazzinc, BHP to vie for Tajik silver deposit
(Reuters) – A consortium led by Glencore-owned Kazzinc and BHP Billiton are the only contenders for Tajikistan’s largest silver field after three Chinese rivals withdrew their bids, a government official said.

SOCIETY:

Kazakhstan to introduce satellite surveillance to track immigrants avoiding extradition (Interfax)

SOURCE: http://silkroadintelligencer.com/2011/06/23/kazakhstan-daily-news-roundup-june-23-2011/

 

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)



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