Kazakhstan Chamber of Commerce in the USA

KazCham



Kazakhstan Daily News Roundup – March 3, 2011 0

Posted on March 03, 2011 by KazCham

SOURCE: http://silkroadintelligencer.com/2011/03/03/kazakhstan-daily-news-roundup-march-3-2011/

ENERGY:

KMG EP board recommends record dividend, ups capex budget
(SRI) – KazMunaiGas Exploration Production (KMG EP) plans to pay a dividend of KZT800 ($5.48) per share for 2010, according to recommendation of the oil company’s Board of Directors.

KMG’s Rompetrol to be back in black in 2012 (Reuters)

KMG’s Rompetrol willing to borrow to repay back taxes to Romania (Bloomberg)

Zhaikmunai LP – issuer substitution and KASE (Marketwire)

BUSINESS AND ECONOMY:

Eurasian Bank acquires Kazakh microlender
(SRI) – Eurasian Bank, Kazakhstan’s tenth largest bank, has completed the acquisition of microlender ProstoKredit from French banking group Societe Generale, Eurasian said in a statement on Tuesday.

Kazakh president pushing ENRC and Kazakhmys into ‘People’s IPOs’ (Telegraph)

Lithuania urges Kazakhstan to accelerate transport cooperation (Interfax)

Indicators – March 2, 2011 (Reuters)

METALS AND MINING:

ENRC to spend $6.8 billion on Kazakh, Brazilian iron ore growth (Bloomberg)

ENRC to produce 45 million tons of iron ore in Brazil – Interfax (Bloomberg)

Sunkar Resources Subsoil Use Contract changes ratified (Mineweb)

POLITICS:

Four candidates to run in Kazakh presidential election (RFE/RL)

REGIONAL:

China,Turkmenistan agree on new natural gas supply (Reuters)

RWE, OMV, Nabucco partners must each give $2.3 billion in guarantees (Bloomberg)

Kazakhstan Daily News Roundup – February 22, 2011 0

Posted on February 22, 2011 by KazCham

HEADLINES:

Race for rare earths in Central Asia
(bne) – China’s decision to drastically cut exports of rare earth metals in 2010 has forced manufacturers of products from iPhones to satellite systems to look for new sources in Central Asia.

ENERGY:

Kazakh president’s China visit seen advancing Beijing’s interests in key energy supplier (AP)

Tethys unit forms joint venture to make rail terminal (Reuters)

BUSINESS AND ECONOMY:

Kazakhstan’s BTA Bank saw assets decline 4% last year (Bloomberg)

Kazakhstan to spend $87 million on domestic grains for reserves (Bloomberg)

National Bank of Kazakhstan: Exchange rates February 22, 2011 (Kazakhstan Today)

Indicators – February 21, 2011 (Reuters)

METALS AND MINING:

Race for rare earths in Central Asia (bne)

Fortis Mining to acquire rights to potash assets in Kazakhstan (Proactive Investors)

POLITICS:

Opposition fields featherweights in Kazakh election (Telegraph)

Kazakhs deny poll move linked to Egypt (Financial Times)

Kazakhstan boosts army spending 17% this year – president (Bloomberg)

SOCIETY:

How Borat still hurts Kazakhstan (Telegraph)

Presidential candidate vows to find husbands for Kazakhstan’s single women (Telegraph)

REGIONAL:

Nabucco pipeline still in limbo (AFP)

Azerbaijan urges citizens to fight corruption online (AFP)

U.S. hails Uzbek cooperation on NATO supply routes (AFP)

SOURCE: http://silkroadintelligencer.com/2011/02/22/kazakhstan-daily-news-roundup-february-22-2011/

Kazakhstan Daily News Roundup – December 3, 2010 0

Posted on December 03, 2010 by KazCham

Kazakhstan Daily News Roundup – December 3, 2010

HEADLINES:

No plans to revise oil and gas contract as long as oil majors honor commitments – PM
(SRI) – Prime Minister Karim Masimov denied that Kazakhstan plans to revise oil and gas contracts it signed with international oil companies in the 1990’s, as long as the oil majors honor their commitments.

OSCE fails to gain powers as old conflicts smolder
(Reuters) – Unresolved conflicts across the former Soviet Union thwarted attempts by Europe’s main security watchdog to adopt new powers on Friday, sending world leaders home empty-handed from the first OSCE summit in over a decade.

ENERGY:

CPC pipeline November exports down 9.5% year-on-year (SRI)

Kazakhstan’s role as a nuclear leader (PennEnergy)

BUSINESS AND ECONOMY:

PromMashKomplekt to launch a $64-million project to manufacture track switches and railway wheels (Interfax)

National Bank of Kazakhstan: Exchange rates December 3, 2010 (Kazakhstan Today)

Indicators – December 2, 2010 (Reuters)

METALS AND MINING:

ArcelorMittal slows Kazakh furnaces after power cut (Bloomberg)

Russia’s Evraz to build steel mills in Kazakhstan, Russia (Reuters)

REGIONAL:

U.S. seeks support for Kyrgyz base, offers fuel deal (Reuters)

Turkmenistan signals readiness for Nabucco (CACI Analyst)

SOURCE: http://silkroadintelligencer.com/2010/12/03/kazakhstan-daily-news-roundup-december-3-2010/

Kazakh leader says EU should do more on Nabucco 0

Posted on July 22, 2010 by KazCham

Reuters, by Raushan Nurshayeva

ASTANA, July 18 (Reuters) – Kazakhstan’s leader said on Sunday the European Union was doing too little to bring to life the Nabucco pipeline, which aims to take Caspian Sea gas to Europe and reduce the bloc’s independence on Russia. “In Europe there is a lot of talk on Nabucco … but in reality little gets done,” Nursultan Nazarbayev said at a joint news briefing with German Chancellor Angela Merkel in the Kazakh capital, adding that his comments were not criticism.

Kazakhstan remains close to Russia nearly two decades after the breakup of the Soviet Union, but energy has become a bone of contention. Its willingness to join Nabucco could hamper its relations with Russia, Europe’s biggest gas supplier.

Nabucco shareholders have struggled to reach the gas supply deals they need to secure financing for around 70 percent of project costs for the 7.9 billion-euro ($10.25 billion), 3,300-km (2,000-mile) pipeline.

Nazarbayev added that for Kazakhstan to supply the pipeline, expected to open by end-2014, the Nabucco consortium would have to either extend the link under the Caspian Sea or set up liquefied natural gas (LNG) plants. “But nothing is happening with either of those issues besides talk,” he said.
Kazakhstan, Turkmenistan, Azerbaijan and Iran are all viewed as potential suppliers for the pipeline, which is expected to carry 31 billion cubic metres a year.

Merkel, who was at the end of a five-day tour to Russia, China and Kazakhstan in the aim of boosting trade and energy supplies, said she welcomed trade with Astana.

“We’ll support new business with state export guarantees,” she said, referring to Germany’s promise to refund exporting companies if the importing country dodges the bill.

Nazarbayev said he was disappointed so few German companies had invested in Kazakhstan and said he would welcome their involvement in the metals and chemicals sectors.

Nabucco’s consortium includes Germany’s RWE, Austria’s OMV, Hungary’s MOL, Bulgarian EnergyHolding, Romania’s Transgaz and Botas of Turkey.

SOURCE: Release of the Embassy of the Republic of Kazakhstan to the United States of America, No 20 July 19, 2010

Kazakhstan Daily News Roundup – July 21, 2010 0

Posted on July 21, 2010 by KazCham

HEADLINES:

Temirbank to return to profit in 2010 following successful debt restructuring
(SRI) – Temirbank, one of four Kazakh lenders which had defaulted in 2009, expects to post net profit of KZT2-3 billion ($13.6-20.4 million) this year, following the completion of its debt restructuring, its CEO Yerzhan Shaikenov said on Monday.

BTA to issue bonds to complete restructuring
(SRI) – BTA Bank, Kazakhstan’s third largest bank, will place nine bonds issues as part of its debt restructuring plan, the bank said in a statement.

Oil in Kazakhstan may be too rich for tax to deter Chevron – energy markets
(Bloomberg) – Kazakhstan’s oil reserves may be too valuable for an export-tax increase to deter companies from drilling for crude in the former Soviet republic.

ENERGY:

Ministry of Oil and Gas revokes 10 subsoil licenses (SRI)

Kazakhstan’s oil grab (The Oil and the Glory)

U.S. Ambassador demonstrates support for Karachaganak group (Dow Jones – NASDAQ)

Tethys Petroleum re-enters Akkulka well to test extension of Doris oil discovery (Proactive Investors)

BUSINESS AND ECONOMY:

Kazakhs drop planned 2010 Eurobond sale after $1 billion World Bank loan (Bloomberg)

Kazakh National Bank not to revise inflation forecast for 2010 (Interfax)

Headhunter Antal Russia opens in Almaty (EmergingMarkets.me)

Surrey building Kazakh Earth observation satellite for 2013 launch (Space News)

Cheyne’s Habib guits for Kazakh private equity gig (FINalternatives)

Kazakhstan may spent KZT580 billion on modernization of utilities in 2011-2015 (Interfax)

POLITICS:

Kazakhstan secures OSCE summit commitment (EurasiaNet)

REGIONAL:

Southern Kyrgyzstan forces may have used torture – UN (AFP)

Italy’s ENI turns to Azerbaijan for Nabucco supply (Reuters)

China seeks copper, tungsten, chromium in Central Asia – Ernst & Young (Bloomberg)

SOURCE: http://silkroadintelligencer.com/2010/07/21/kazakhstan-daily-news-roundup-july-21-2010/



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