Kazakhstan Chamber of Commerce in the USA

KazCham



Kazakhstan Daily News Roundup – November 10, 2011 0

Posted on November 10, 2011 by Alex

Russian Promsvyazbank opens Almaty office 0

Posted on October 23, 2011 by Alex

Russia’s Promsvyazbank, one of Russia’s ten largest banks by assets, has opened a representative office in Almaty, RIA Novosti reported on Tuesday. Promsvyazbank said in July it was  planning to  branch out into Kazakhstan.  There are already three other Russian banks operating in the country – Sberbank, Alfa-Bank and VTB Bank.

Moody’s, the credit rating agency, changed to stable from negative the outlook on the B3 corporate family rating and the B3 default probability rating of RG Brands,  a  Kazakh food and  soft  drinks producer.

SOURCE: http://silkroadintelligencer.com/wp-content/files/srikznewsbrief_oct19_2011.pdf

Kazakhstan Daily News Roundup – August 9, 2011 0

Posted on August 08, 2011 by KazCham

ENERGY:

KazMunaiGas raises $1-billion syndicated loan (SRI)

Kazakhstan increases uranium output in H1 (SRI)

Max Petroleum makes new oil discovery in Kazakhstan (Proactive Investors)

BUSINESS AND ECONOMY:

BTA reshuffles management amid performance worries
(SRI) – BTA Bank is set to replace chairman Arman Dunayev with CEO Anvar Saidenov as it tries to improve performance, Bloomberg reported last week, citing two sources familiar with the decision.

On the move: Kazkommertsbank (SRI)

Sberbank to issued $684-million worth of debt by 2012 (SRI)

Inditex to buy out its franchises in Kazakhstan (SRI)

Fitch withdraws ratings of Astana Finance and Astana Finance Leasing (Fitch)

Kazakhstan to produce 18-20 million tonnes of grains in 2011 – Nazarbayev (Interfax)

Indicators – August 8, 2011 (Reuters)

METALS AND MINING:

ENRC Q2 ferrochrome up, running at full capacity (Reuters)

ArcelorMittal Temirtau in $150 mln furnace upgrade (Reuters)

Polyus has 3 million ounces of gold in Kazakhstan, Romania (Bloomberg)

Frontier Mining: Three directors boost holdings in firm (Proactive Investors)

POLITICS AND SECURITY:

Kazakhstan returns prisons to tough Interior Minsitry control after riots and breakouts (The Telegraph)

Kazakhstan makes ‘quantum leap’ in its EU relations (TheParliament)

Kazakhstan launches Steppe Eagle exercises (Trend)

SOCIETY:

Is state-sponsored hacking curbing Internet freedom? (EurasiaNet)

REGIONAL:

Turkmenistan sets presidential vote for February 12 (AFP)

Central Asia’s 10 most influential (and connected) women (RFE/RL)

Kazakh bid for more Kyrgyz water comes up dry (RFE/RL)

Tajikistan bans youth from mosques (AFP)

SOURCE: http://silkroadintelligencer.com/2011/08/09/kazakhstan-daily-news-roundup-august-9-2011/

Kazakhstan Daily News Roundup – May 31, 2011 0

Posted on May 30, 2011 by KazCham

ANALYSIS:

Grigoriy Marchenko – Chairman of the National Bank
(SRI) – The nomination of Kazakhstan’s central bank chairman Grigoriy Marchenko to head the International Monetary Fund (IMF) has brought well deserved international recognition to Kazakhstan’s top banker.

Sberbank outlines conditions for BTA deal – Gref
(SRI) – Russia’s Sberbank has outlined the conditions under which it would be willing to acquire Kazakhstan’s BTA Bank, Sberbank’s head German Gref told the Russian business daily Kommersant.

Almaty metro nears end of line
(bne) – Almaty’s metro has become known locally as the “golden metro” because of the amount of money sunk into the project over the last two decades. After many false starts, trains are now being tested, and the latest date for its opening is December 2011.

ENERGY:

On the move: KEGOC
(SRI) – Bakytzhan Kazhiev has been appointed the new head of Kazakhstan Electricity Grid Operating Company (KEGOC), the national transmission grid operator.

Kazakhstan to keep cap tariffs for power stations after 2015 (Interfax)

BUSINESS AND ECONOMY:

BTA Bank’s bad loans may top original estimate – advisor
(Bloomberg) – BTA Bank, Kazakhstan’s biggest lender before its nationalization and default two years ago, may have underestimated its bad-loan total and may require more government aid or risks being broken up.

Indicators – May 30, 2011 (Reuters)

POLITICS:

Kazakh President’s family feud spills over into Washington (New York Times)

SOCIETY:

Hundreds of rare antelopes die in Kazakhstan (AFP)

 

Kazakhstan Daily News Roundup – May 6, 2011 0

Posted on May 06, 2011 by KazCham

HEADLINES:

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.

ENERGY:

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.

BUSINESS AND ECONOMY:

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 – 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/

Kazakhstan Daily News Roundup – April 27, 2011 0

Posted on April 27, 2011 by KazCham

ENERGY:

Former Deputy Minister named head of MangistauMunaiGas
(SRI) – Asset Magauov, former Deputy Minister of Oil and Gas, has been appointed the new head of MangistauMunaiGas, a subsidiary of Kazakhstan’s national oil and gas company KazMunaiGas.

BUSINESS AND ECONOMY:

BTA wrote off $3.3 billion in last 12 months
(SRI) – BTA Bank, Kazakhstan’s third-largest by assets, wrote off KZT481 billion ($3.3 billion) of loans in the 12 months to April 1, Bloomberg reported on Tuesday.

Sberbank aims to triple investment in Kazakhstan
(Reuters) – Sberbank’s Kazakh unit aims to grow net income this year by carving a larger niche in the local market and together with its Russian parent plans to boost investment in the country to almost $1 billion.

Kazakhstan said to seek sale of Alliance Bank stake to EBRD after bailout
(Bloomberg) – Kazakhstan wants to sell a stake in Alliance Bank to the European Bank for Reconstruction and Development (EBRD), potentially making it the first of the Kazakh banks that defaulted during the financial crisis to attract an international investor, said three people familiar with talks.

Kazakhstan’s ATF Bank plans $276-million stock issue
(Reuters) – Kazakhstan’s ATF Bank , majority owned by Italian bank UniCredit SpA , plans to raise $276 million by issuing 7.66% of its ordinary shares.

EBRD extends trade finance guarantee facility to VTB Kazakhstan
(SRI) – The European Bank for Reconstruction and Development (EBRD) has extended a $20-million trade finance guarantee facility to VTB Kazakhstan.

Halyk Bank allocates $37.8 million for 2010 dividend
(SRI) – Halyk Bank, Kazakhstan’s second largest lender by assets, said on Tuesday it would allocate KZT5.5 billion ($37.8 million) from its 2010 net profit to pay dividends on its preferred shares.

Kazakh 2011 GDP growth may accelerate to 7% – Kelimbetov (Reuters)

National Bank of Kazakhstan: Exchange rates April 27, 2011 (Kazakhstan Today)

Indicators – April 26, 2011 (Reuters)

METALS AND MINING:

KazakhGold reduces net loss by 60% in 2010
(SRI) – KazakhGold, the Kazakhstan-focused subsidiary of Russian miner Polyus Gold, reported a net loss of $57.3 million in 2010, compared with a loss of $143.7 million in 2009.

SOCIETY:

High rollers hit Kaz Vegas, a far cry from Las Vegas (EurasiaNet)

REGIONAL:

Energy-rich Central Asia, Gulf states plan new rail route (Reuters)

Disappointed by West, Uzbekistan turns to China (AFP)

Turkmen president hosts horse beauty contest (AFP)

SOURCE: http://silkroadintelligencer.com/2011/04/27/kazakhstan-daily-news-roundup-april-27-2011/

Kazakhstan Daily News Roundup – December 9, 2010 0

Posted on December 09, 2010 by KazCham

HEADLINES:

Polyus Gold reaches agreement with former KazakhGold owners, sells back assets
(SRI) – Polyus Gold, Russia’s largest gold producer, said on Wednesday it had sold the main production assets of its KazakhGold subsidiary back to the original owners of the unit, the Assaubayev family, for $509 million in cash.

Russia, Kazakhstan eye missile warning system work – sources
(Reuters) – Russia and Kazakhstan are looking to cooperate on a ballistic missile early warning system and Moscow is planning to sell Astana its S-300 defense missile system, Russian agency Itar-Tass reported Wednesday.

Sberbank to expand loan portfolio by 40% in 2011 – CEO
(SRI) – The Kazakh subsidiary of Russia’s largest bank, Sberbank, aims to expand its loan portfolio by 40% next year as Kazakhstan’s economy heads for recovery, Oleg Smirnov, the bank’s CEO, told Reuters on Wednesday.

ENERGY:

Kazakhstan and Kyrgyzstan reach landmark electricity deal (SRI)

Oil export duty brought Kazakhstan KZT86 billion in August-November – Ministry of Finance (Interfax)

Kazakh companies to enjoy Russia’s and Belarus’s domestic tariffs on railway and oil pipeline transportation in 2013 (Interfax)

BUSINESS AND ECONOMY:

Halyk Finance to accept applications for Development Bank of Kazakhstan Eurobond issue (SRI)

Air Astana boosts long haul services to Asia (eTravel Blackboard)

National Bank of Kazakhstan: Exchange rates December 9, 2010 (Kazakhstan Today)

Indicators – December 8, 2010 (Reuters)

SOURCE: http://silkroadintelligencer.com/2010/12/09/kazakhstan-daily-news-roundup-december-9-2010/

Kazakhstan Daily News Roundup – October 19, 2010 0

Posted on October 19, 2010 by KazCham



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