Kazakhstan Chamber of Commerce in the USA

KazCham



Nurbank names new acting CEO 0

Posted on October 29, 2011 by Alex

Nurbank, Kazakhstan’s tenth-largest lender, said on Friday it had named Saken Akhmetov acting CEO effective on October 14.  Akhmetov replaced acting CEO Rauan Daukenov who had been appointed to the position following the departure of Marat Zairov, a former CEO who left Nurbank on August 15 to head BTA Bank.

SOURCE: Kazakhstan Daily News Brief, dated October 24, 2011 available at http://silkroadintelligencer.com/wp-content/files/srikznewsbrief_oct24_2011.pdf

Nurbank repays Eurobond 0

Posted on October 23, 2011 by Alex

Nurbank, Kazakhstan’s tenth largest bank, repaid a $150-million Eurobond on Monday, the profinance.kz news portal reported, citing the bank’s press office.  The Eurobond, issued in 2006, was the bank’s last remaining foreign obligation.  Nurbank used its own used its own funds to repay the debt, the bank said.

SOURCE: Kazakhstan Daily News Brief, October 18, 2011

Kazakhstan Daily News Roundup – September 19, 2011 0

Posted on September 19, 2011 by Alex

ENERGY:

Lukoil not interested in Kashagan – Alekperov (SRI)

KMG EP to buy back up to $300 million worth of shares (SRI)

Kazatomprom net income rises 77% in first half (SRI)

Max Petroleum to drill ‘deep salt’ Emba B target next month (Proactive Investors)

Fitch raises rating of Kaztransgas to BB+ (SRI)

BUSINESS AND ECONOMY:

BTA Bank seeks Ablyazov arrest amid claims of Kazakh strike support (SRI)

Polish company to buy Kazakhstan’s largest pharmaceutical producer (SRI)

Kazakhstan intends to become an important transit country for China-Europe trade – Issekeshev (SRI)

Grain harvest may reach record levels in 2011 (SRI)

Nurbank reports positive income in H1 (SRI)

Indicators – September 16, 2011 (Reuters)

METALS AND MINING:

Mashkevich stresses he has no plans to sell ENRC stake (SRI)

Hambledon Mining acquires two new Kazakh gold projects to boost future production (Proactive Investors)

ENRC to invest $6 billion in Kazakhstani assets development (Interfax)

Kazakhstan to create metallurgical free economic zone (Interfax)

SOCIETY:

‘We don’t have anything to eat’ – Desperation and poverty growing as Kazakh strikes drag on(RFE/RL)

Kazakhstan ready to re-open access to LiveJournal after banned content is removed (Interfax)

U.S.-Russian space trio lands safely in Kazakhstan (Reuters)

REGIONAL:

EU trio takes 50% stake in Russia’s South Stream (AFP)

Uzbek leader’s daughter hits fashion controversy (AFP)

Kazakh PM says Kyrgyzstan should join CIS Customs Union (RFE/RL)

SOURCE: http://silkroadintelligencer.com/2011/09/19/kazakhstan-daily-news-roundup-september-19-2011/

Kazakhstan Daily News Roundup – August 25, 2011 0

Posted on August 25, 2011 by Alex

Kazakhstan Daily News Roundup – August 19, 2011 0

Posted on August 19, 2011 by Alex

ENERGY:

CAPEC profit down 29.1% in first half (SRI)

Lukoil Overseas to commence gas utilization at its western Kazakhstan fields by year-end (Interfax)

BUSINESS AND ECONOMY:

Rail sector manufacturers set up in Astana
(bne) – Astana is becoming the centre of a brand new manufacturing industry as the Kazakh government’s lavish spending on the country’s railways draws in international firms Alstom, GE and Talgo.

Profile: Marat Zairov – CEO of BTA Bank (SRI)

BTA loses $331 million in first half (SRI)

Kazkommertsbank to finance $1 billion of construction and infrastructure projects in Almaty (SRI)

On the move: Nurbank (SRI)

Indicators – August 19, 2011 (Reuters)

METALS AND MINING:

Kazakh company sells majority stake in Kyrgyz gold venture
(SRI) – Kazakhstan-based mining company Summer Gold sold its stake in a joint venture developing the Taldy-Bulak Levoberezhny gold deposit in Kyrgyzstan to Chinese Zijin Mining Group.

REGIONAL:

Turkmen leader wages war on satellite dishes (AFP)

SOURCE: http://silkroadintelligencer.com/2011/08/19/

 

Kazakhstan Daily News Roundup – July 26, 2011 0

Posted on July 25, 2011 by KazCham

HEADLINES:

Kulibayev would succeed Nazarbayev if needed – presidential advisor
(SRI) – Timur Kulibayev, the powerful son-in-law of Kazakhstan’s President Nursultan Nazarbayev, could succeed the aging leader, Nazarbayev’s confidant Yermukhamet Yertysbayev told a Russian newspaper.

Fast food on the steppe
(bne) – Americana Group has brought several fast food franchises – KFC, Pizza Hut and most recently Hardee’s – to the Kazakh market. But unlike Russia and the western part of the Commonwealth of Independent States, Kazakhstan has yet to see the arrival of McDonald’s and its big rival Burger King.

ENERGY:

Tethys shares start trading on LSE (SRI)

Fitch affirms Tengizchevroil notes, changes Outlook to Positive (SRI)

Kazakhstan’s Pavlodar refinery restarts after 30 days of repairs (Oil and Gas Eurasia)

BUSINESS AND ECONOMY:

Nurbank first-half income up 17-fold (SRI)

Kazakhstan’s grain harvest to reach 16-17 million tonnes in 2011 (SRI)

Kazakh Foreign Ministry denies notification of Ablyazov’s political shelter in the UK (Interfax)

Etihad Crystal Cargo announces new freighter operation to Almaty (LogisticsWeek)

Indicators – July 25, 2011 (Reuters)

METALS AND MINING:

Court hears ENRC bid to strike out $2-billion lawsuit (Reuters)

POLITICS AND SECURITY:

Kazakhstan objects to inclusion on “terror” list, but U.S. stands behind it (EurasiaNet)

SOURCE: http://silkroadintelligencer.com/2011/07/26/kazakhstan-daily-news-roundup-july-26-2011/

 

Kazakhstan Daily News Roundup – January 13, 2011 0

Posted on January 12, 2011 by KazCham

HEADLINES:

Millions back campaign to skip Kazakh election
(Reuters) – More than half of Kazakhstan’s 9 million voters have backed a referendum to extend veteran leader Nursultan Nazarbayev’s rule of the oil-rich Central Asian state for a third decade, organisers of the plan said on Wednesday.

Kazakh Nurbank sees 2010 loss as provisions soar
(Reuters) – Nurbank, Kazakhstan’s ninth-largest lender by assets, expects a net loss for 2010 after revealing provisions doubled last year to 40% of its total loan portfolio.

ENERGY:

Natixis lends $32 million to Kazatomprom to buy desalination plants (SRI)

KEGOC returns to profit as power demand recovers (KEGOC)

Roxi Petroleum receives $15.6 million from sale of 40% in Galaz and Company (Proactive Investors)

JSPL carrying out due diligence for stakes in Kazakh oil block (Economic Times)

BUSINESS AND ECONOMY:

Al-Hilal Bank financed 7 projects worth $23 million in Kazakhstan (Kazinform)

National Bank of Kazakhstan: Exchange rates January 13, 2011 (Kazinform)

Indicators – January 12, 2011 (Reuters)

POLITICS:

OSCE summit brought Kazakh people together – Nazarbayev (Interfax)

REGIONAL:

Tajikistan says ends century-old China border row (Reuters)

How not to get your money back in Turkmenistan (The Oil and the Glory)

Beijing’s stealthy expansion in Central Asia (RFE/RL)

SOURCE: http://silkroadintelligencer.com/2011/01/13/kazakhstan-daily-news-roundup-january-13-2011/

Nurbank profits up six-fold in 2009 0

Posted on May 19, 2010 by KazCham

(SRI) – Nurbank, Kazakhstan’s eight largest bank, reported a net profit of KZT762 million ($5.18 million) in 2009, up from KZT129 million ($0.88 million) in 2008, the bank said in a press release.

Nurgroup, which besides Nurbank includes subsidiaries providing banking, insurance, brokerage, leasing, pension funds and asset management services, recorded a net profit of KZT275 million ($1.87 million) in 2009, up from a net loss of KZT1.5 billion ($10.2 million) in 2008.

According to Nurbank CEO Marat Zairov, Nurbank plans to double its profit in 2010.

In April 2009, Nurbank redeemed ahead of schedule a $100-million syndicated loan, significantly reducing its foreign debt. The bank may return to international capital markets later this year and issue a Eurobond and raise smaller syndicated loans, according to Zairov.

“By the end of the year the bank may tap the Eurobond market [with an issue of] up to $200 million,” Zairov told reporters on Wednesday.

The majority owner of Nurbank is President Nursultan Nazarbayev’s eldest daughter Dariga Nazarbayeva who holds a 50.69-percent stake.

SOURCE: http://silkroadintelligencer.com/2010/05/13/nurbank-profits-up-six-fold-in-2009/



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