Kazakhstan Chamber of Commerce in the USA

KazCham



Kazakhstan Daily News Roundup – September 7, 2010 0

Posted on September 07, 2010 by KazCham

Kazakhstan Daily News Roundup – August 27, 2010 0

Posted on August 27, 2010 by KazCham

HEADLINES:

Kazakhmys warns on costs after H1 EPS rises 130%
(Reuters) – Kazakh copper miner Kazakhmys posted an expected 130% rise in underlying first-half earnings per share on higher prices and warned about rising costs in the second half.

Bank CenterCredit net income falls by half in H1
(SRI) – Bank CenterCredit (BCC), Kazakhstan’s fifth largest bank, said its net profit was KZT2.0 billion ($13.4 million) in the first six months of 2010, down 48.2% year-on-year, according to its IFRS consolidated financial results.

Samruk-Kazyna files claim against BTA over loans (SRI)

ENERGY:

Zhaikmunai completes first oil shipment via Ukrainian Black Sea port (SRI)

BUSINESS AND ECONOMY:

BTA Bank commences distribution of entitlements (Interfax)

Kazakhstan to extend grain sales market (AgriMarket.Info)

IFC helps Kazakh poultry business expand production, improve standards (Media Newswire)

National Bank of Kazakhstan: Exchange rates August 27, 2010 (Kazakhstan Today)

METALS AND MINING:

KazakhGold issues statement on tax audit (Tax-News.com)

Alhambra announces financial and operating results for Q2 (Marketwire)

REGIONAL:

Rotating statue of late Turkmen dictator removed (AP)

Exxon Mobil to open Turkmenistan office in race for Central Asian reserves (Bloomberg)

SOURCE: http://silkroadintelligencer.com/2010/08/27/kazakhstan-daily-news-roundup-august-27-2010/

Kazakhstan Daily News Roundup – July 27, 2010 0

Posted on July 27, 2010 by KazCham

HEADLINES:

Kazakhstan cancels Tristan Oil’s subsoil licenses
(SRI) – Tristan Oil, a Kazakhstan-focused oil company, said on Sunday that Kazakhstan’s Ministry of Oil and Gas had cancelled the subsoil use contracts issued to its two production subsidiaries, Kazpolmunai and Tolkynneftegas.

Kazakhstan to expand Caspian fleet – Minister
(SRI) – Kazakhstan plans to secure more than 50 percent of the Caspian Sea commodity cargo market by 2013 as it expands its tanker fleet with the help of private investors, Reuters reported on Monday citing the country’s Minister of Transport and Communications Abelgazi Kusainov.

Zhaikmunai charged over illegal crude exports
(SRI) – Zhaikmunai LP, a Kazakhstan-focused oil company, has been charged over illegal crude oil exports to Finland, the regional prosecutor’s office said in a statement on Saturday.

ENERGY:

GE signs service deal in Kazakhstan (Upstream Online)

BMB Munai announces completion of prospective resources report (PR Newswire)

BUSINESS AND ECONOMY:

Environmental NGOs in Kazakhstan wield increasing influence over policy in Kazakhstan (EurasiaNet)

IBA Group opens office in Kazakhstan (PR Newswire)

National Bank of Kazakhstan: Exchange rates July 27, 2010 (Kazinform)

METALS AND MINING:

Frontier Mining’s second gold pour and production progress (Mineweb)

POLITICS:

U.S. President won’t attend OSCE summit in Astana – source (Interfax)

Kazakhstan and the OSCE can take the lead in Kyrgyzstan (RFE/RL)

SOCIETY:

Aral Sea trickles back to life (bne)

SOURCE: http://silkroadintelligencer.com/2010/07/27/kazakhstan-daily-news-roundup-july-27-2010/

KazStroyService to acquire 27 percent of Zhaikmunai 0

Posted on May 06, 2010 by KazCham

SRI) – Kazakh authorities have approved a bid by KazStroyService Global BV to acquire 27 percent of the London-traded oil company Zhaikmunai LP.

“Completion of the acquisition […] is expected to occur shortly,” Zhaikmunai said in a statement on Tuesday.

Claremont Holdings Ltd., controlled by Zhaikmunai’s chairman, Frank Monstrey, agreed to sell 50 million global depositary receipts (GDRs) for $200 million to the affiliate of JSC OGCC KazStroyService, a construction company building a gas treatment plant for the oil producer, Zhaikmunai said in November.

KazStroyService is reportedly controlled by Timur Kulibayev, President Nursultan Nazarbayev’s son-in-law. Kulibayev is the Deputy CEO of Kazakhstan’s state-owned investment and holding company Samruk-Kazyna.

Zhaikmunai announced last month it plans to issue a debut Eurobond later this year. Citigroup, ING and JP Morgan are reportedly arranging the offering.

SOURCE: http://silkroadintelligencer.com/2010/05/05/kazstroyservice-to-acquire-27-percent-of-zhaikmunai/

Zhaikmunai plans to issue Eurobond 0

Posted on April 30, 2010 by KazCham

(SRI) – Zhaikmunai LP, a Kazakhstan-focused oil company, plans to tap into the international debt market as it prepares for a debut Eurobond issue.

Last, Standard & Poor’s Ratings Services has assigned a B- long-term corporate credit rating to Zhaikmunai and a preliminary B long-term issue rating to its proposed long-term senior fixed-income notes.

Moody’s has assigned a B3 rating to the oil company and its senior notes with a positive outlook.

Zhaikmunai has not announced specifics on its proposed bond issue.

SOURCE: http://silkroadintelligencer.com/2010/04/26/zhaikmunai-plans-to-issue-eurobond/



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