Kazakhstan Chamber of Commerce in the USA

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Kazakhstan Daily News Roundup – August 12, 2011 0

Posted on August 12, 2011 by KazCham

Central Asian fuel crisis eases
(bne) – Russian gas deliveries to Kyrgyzstan and a cut in export duties for Tajikistan are bringing to an end the price hikes and fuel shortages that have crippled parts of Central Asia over the past few months.

Karachaganak partners and Kazakh government continuing dispute settlement negotiations(SRI)

Korea may offer stake in energy company in exchange for uranium access in Kazakhstan (SRI)

Oil and gas production up in Jan-July (SRI)

Uranium One jumps most in three years as quarterly profit climbs fivefold (Bloomberg)

BUSINESS AND ECONOMY:

KASE Index up and down in wake of global market volatility
(SRI) – Following the global trend, Kazakh stock market soared the most in two years on Wednesday on U.S. Federal Reserve pledges to keep interest rates near zero, only to give up much of the gains the following day.

Industrial production goes up 4.8% in Kazakhstan for Jan-July (Interfax)

Nazarbayev and Yanukovych discuss trading and economic cooperation (Interfax)

Ukraine’s PM offers Russia, Kazakhstan to coordinate grain policy (Interfax – Kyiv Post)

Fitch assigns Alliance Bank senior unsecured notes ‘RR4? recovery rating (SRI)

Indicators – August 11, 2011 (Reuters)

METALS AND MINING:

ENRC admits inquiry over audit allegations (The Telegraph)

Kazakhmys eyeing Central Asia for business expansion (Interfax)

POLITICS AND SECURITY:

U.S. and UK continue training of Kazakhstan military after Afghanistan rebuff (EurasiaNet)

SOCIETY:

U.S. rights body urges release of Kazakh lawyer
(Reuters) – The U.S.-based human rights body Freedom House has demanded the immediate release from prison of a Kazakh labor lawyer, saying trumped-up accusations were used to punish her for supporting striking oil workers.

REGIONAL:

China train maker signs $395-million contract with Turkmenistan (AFP)

Land seizures in China’s Kashgar fuel anger among Uighurs (Reuters)

SOURCE: http://silkroadintelligencer.com/2011/08/12/kazakhstan-daily-news-roundup-august-12-2011/

Kazakhstan Daily News Roundup – May 16, 2011 0

Posted on May 16, 2011 by KazCham

HEADLINES:

New focus on “people’s IPO” following election
(bne) – With Kazakhstan’s presidential elections out of the way, the focus in Astana is on the “People’s IPOs”. Plans to sell minority stakes in various state-owned enterprises are a little behind schedule, but due to take place by the end of the year.

ENERGY:

MIE Holdings issues $400-million bond to buy Kazakh oil junior (SRI)

Max Petroleum begins drilling NARS-1 exploration well on Narmundanak South prospect(Proactive Investors)

Tub-Karagan-2 exploration well completed (Interfax)

Uranium One turns a profit in the first quarter, posts record revenue (Proactive Investors)

BUSINESS AND ECONOMY:

Kazkommertsbank issues $300-million Eurobond
(SRI) – Kazkommertsbank, Kazakhstan’s largest lender by assets, has placed a seven-year Eurobond worth $300 million at an annual rate of 8.50% on May 5, the bank said last week.

Kazakh bank BTA returns to profit, may sell assets
(Reuters) – Kazakh bank BTA is open to offers for its Belarussian and Turkish assets and will seek to expand lending to the retail sector and small businesses at home this year, the bank’s chief executive said last Thursday.

Kazakhstan Temir Zholy repays $450-million Eurobond (SRI)

Asian Development Bank to lend $500 million to Kazakhstan for SMEs (SRI)

On the move: Samruk-Kazyna (SRI)

Kazakhstan GDP grows 6.6% in Q1 – statistics agency (Reuters)

Kazakhstan oligarch suffers setback in London legal battle (EurasiaNet)

Indicators – May 13, 2011 (Reuters)

METALS AND MINING:

Glencore’s $7.6-billion Kazakh business under threat
(Telegraph) – Kazakhstan’s leading opposition figures have accused Glencore of benefiting from an illegal privatisation of assets, amid fears the recent commodities sell-off could hurt the company’s valuation or force it to pull its $61-billion flotation.

ENRC warns on cost pressures, Q1 output rises (Reuters)

POLITICS:

Kazakhstan making steady progress against corruption (The Hill)

Kazakhstan: Washington experts go on spin cycle (Eurasia Review)

Kazakhstan and NATO preparing for a new partnership stage (Interfax)

 

Kazakhstan Daily News Roundup – April 11, 2011 0

Posted on April 11, 2011 by KazCham

HEADLINES:

Kazakhstan considering delaying second phase of Kashagan development
(SRI) – The Kazakh government may suspend work to expand the Kashagan oil field for three years, the Daily Telegraph reported last week, citing an unidentified official.

Kazakh strongman vows reform in new term
(AFP) – President Nursultan Nazarbayev was on Friday sworn in for a third decade of his strongman rule, vowing to implement reform in the face of Western criticism of Kazakhstan’s democratic standards.

ENERGY:

KMG EP names new old boss (SRI)

KMG EP output slightly down in Q1 (SRI)

Uranium One eyes Moscow listing (Bloomberg – Moscow Times)

BUSINESS AND ECONOMY:

BTA repays first restructured trade tranche (SRI)

Kazakhstan to invest $10.5 billion in industrial projects in 2011 (SRI)

Kazakhstan’s foreign reserves grow 3.9% in March (SRI)

National Bank of Kazakhstan: Exchange rates April 8, 2011 (Kazakhstan Today)

Indicators – April 8, 2011 (Reuters)

POLITICS:

Masimov reappointed PM following Nazarbayev’s inauguration (SRI)

Sensational: Kazakhstan’s thumping election (The Economist)

In Kazakhstan, a good old-fashioned sham election (New York Times)

An observer’s reflections on the presidential election (EurasiaNet)

SOCIETY:

ENRC’S Mashkevich launching venture to rival Al Jazeera (AP)

IN SHORT:

Monthly inflation in Kazakhstan slowed to 0.5% in March, down from 1.5% last month, the State Statistics Agency said last week.

South Korean chemical manufacturer LG Chem is seeking to invest up to $1.3 billion in a Kazakhstan facility to produce 551,000 tons of polypropylene annually, the European Plastics News portal www.europeanplasticsnews.com reported last week.

The average monthly wage amounted to KZT 78,083 ($533) in February, up 17.7% year-on-year in nominal terms and up 8.2% in real terms, the State Statistics Agency said on Friday.

Fitch Ratings has affirmed the Long-term Issuer Default Rating (IDR) for Kazakhtelecom at BB with a Stable outlook, the rating agency said last week.

Kazakhstan plans to increase gold production from current 30 tonnes per annum to 70 tonnes per annum by 2014, Minister of Industry and New Technology Asset Isekeshev said last week.

SOURCE: http://silkroadintelligencer.com/2011/04/11/kazakhstan-daily-news-roundup-april-11-2011/

Kazakhstan Daily News Roundup – September 1, 2010 0

Posted on September 01, 2010 by KazCham

HEADLINES:

Kazakhstan to double crude oil export duties in 2011
(AFP) – Energy-rich Kazakhstan will double its crude export duty tax to 40 dollars (31.51 euros) per tonne next year to boost revenue, the country’s finance ministry said on Tuesday.

Halyk quadruples first-half net income
(SRI) – Halyk Bank, Kazakhstan’s second largest lender, almost quadrupled its net income to KZT16.6 billion ($113 million) in the first six months of 2010, the bank said in a statement on Tuesday.

Kazakhstan forecasts 3.1% GDP growth in 2011
(Reuters) – Kazakhstan, the biggest oil producer in Central Asia, forecast on Tuesday that economic growth would slow to 3.1 percent next year from a forecast 4.0 percent in 2010 before picking up over the following two years.

ENERGY:

KMG EP looks beyond Kazakhstan in BG North Sea deal (Reuters)

Uranium One shareholders approve asset swap deal with ARMZ (RIA Novosti)

Kazakhstan may supply crude oil to Belarus, ambassador says (Belarus News)

Kazakh envoy to Baku: Keep pipe dreaming (EurasiaNet)

BUSINESS AND ECONOMY:

Kazkommertsbank net income up 3% in first half (SRI)

National Bank of Kazakhstan: Exchange rates September 1, 2010 (Kazakhstan Today)

SOCIETY:

Beatlemania in Kazakhstan as country hosts first Beatles festival (Telegraph)

SOURCE: http://silkroadintelligencer.com/2010/09/01/kazakhstan-daily-news-roundup-september-1-2010/

Kazakhstan Daily News Roundup – August 10, 2010 0

Posted on August 10, 2010 by KazCham

HEADLINES:

Max Petroleum shares soar on new oil find
(SRI) – Max Petroleum, a Kazakhstan-focused oil junior, said it had struck oil oil at a greater depth, potentially extending its existing Zhana Makat oil field in western Kazakhstan.

Unicredit not expecting further writedowns of ATF Bank
(SRI) -UniCredit does not plan to further write down the value ATF Bank, after it marked down the value of its Kazakh subsidiary by more than half a billion euros in less than a year, the head of its Austrian arm said last week.

Eurasian Bank reports $9.5 million net loss in H1
(SRI) – Eurasian Bank reported last week a net loss of KZT1.4 billion ($9.5 million) in the first half of 2010, compared to a net profit of KZT158.9 million ($1.58 million) in the same period last year.

ENERGY:

Kazatomprom’s uranium output continues to rise in H1 2010
(SRI) – Kazatomprom, Kazakhstan’s national uranium company, said it produced 8,452 tonnes of uranium in the first six months of 2010, a 42% increase compared to the same period in 2009.

Uranium One shares jump on narrower loss, forecast (Reuters)

BUSINESS AND ECONOMY:

Central bank reports current account surplus of $5.7 billion in H1 (SRI)

Moody’s changes outlook on Kazkommertsbank’s financial strength rating to stable from negative (Moody’s)

Kazakhstan imposes no restrictions on grain exports (Itar-Tass)

Russia to become Kazakhstan’s main grain export destination – Agricultural Ministry (Interfax)

Share of Kazakhstan-produced goods in procurement by state authorities exceeded 55% in H1 (Interfax)

National Bank of Kazakhstan: Exchange rates August 10, 2010 (Kazinform)

METALS AND MINING:

Bitter row knocks sheen off Kazakh gold company (EurasiaNet)

ArcelorMittal Temirtau to make own billet (Steel Business Briefing)

Kazatomprom and Toshiba to establish rare metals production JV by year-end (Interfax)

SOURCE: http://silkroadintelligencer.com/2010/08/10/kazakhstan-daily-news-roundup-august-10-2010/

Kazakhstan Daily News Roundup – July 19, 2010 0

Posted on July 19, 2010 by KazCham

HEADLINES:

Kazakhstan opens criminal case against Tengizchevroil
(SRI) – Kazakhstan’s financial police said on Thursday it had opened a criminal case against Tengizchevroil (TCO), a Chevron-led joint venture, accusing it of illegally producing $1.4 billion worth of crude oil.

Oil consultant Giffen returns to court in delayed Kazakhstan bribery case
(Bloomberg) – Oil consultant Jim Giffen was told by a U.S. judge six months after his 2003 arrest in an international bribery scheme that he would go on trial in the fall of 2004. He’s still waiting.

Confusion surrounding Tristan Oil deal
(SRI) – Kazakhstan’s Oil and Gas Ministry said last week it had received an official letter from Cliffson Company Ltd informing the authorities that it intended to withdraw from the planned acquisition of Kazakhstan-focused oil company Tristan Oil.

ENERGY:

Kazakh leader says EU should do more on Nabucco (Reuters)

Uranium One recommends stake sale to Russia’s ARMZ (Reuters)

Central Asia pipeline brings 2 bcm of gas to China (Reuters)

OVL turns down Mittal offer to buy stake in Kazakh oil company (Economic Times)

Kazakhstan-based subsidiary of Rumania’s Petrom pays 59.8 ml tenge in fines for associated gas flaring above limits (Interfax)

BUSINESS AND ECONOMY:

Tobacco company makes changes after Kazakhstan child-labor report (AFP)

National Bank of Kazakhstan: Exchange rates July 17-19, 2010 (Kazakhstan Today)

METALS AND MINING:

Assaubayev family says Polyus is diverting attention from government probe (Bloomberg)

POLITICS:

Kazakhstan wins right to bring world’s leaders to Astana (Telegraph)

Astana fencing off Kyrgyzstan (EurasiaNet)

OSCE summitt must examine Astana’s poor rights record – press watchdog (EurasiaNet)

SOCIETY:

Kazakhstan to invest $50 million in Afghan education project (RIA Novosti)

On architecture: The big top comes to Kazakhstan (EurasiaNet)

REGIONAL:

U.S. says Kyrgyz must act now to stop more violence (Reuters)

Kyrgyzstan forms new government (AP)

Uzbeks tortured by Kyrgyz police – rights group (AP)

SOURCE: http://silkroadintelligencer.com/2010/07/19/kazakhstan-daily-news-roundup-july-19-2010/



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