News Roundup

News Roundup - March 17, 2008

By SRI ⋅ March 17, 2008 ⋅

Reuters: Kookmin Bank to buy Kazakh bank stake for $623 mln

South Korea’s Kookmin Bank said on Monday it would buy a 30 percent stake in mid-size Kazakh bank CenterCredit CCBN.KZ for $623 million and raise its holding to more than half over the next few years…

Kazinform: Kazakhstan and Oman activate coop in energy sector

Kazakhstan and Oman activate cooperation in energy sector, Minister of Foreign Affairs of Kazakhstan Marat Tazhin has told during a briefing after the bilateral meeting with his counterpart Yusuf bin Alawi bin Abdullah…

Rigzone: Parker takes reduction in final resolution of Kazakhstan tax case

Parker Drilling Company, a global drilling contractor and service provider, announced a $20 million reduction in the interest assessment in accordance with the recent ruling of the Kazakhstan court…

Interfax: Petrolinvest to create oil drilling firm in Kazakhstan, hopes to floatit in London

Polish oil firm Petrolinvest wants to build a new oil drilling company in Kazakhstan and possibly float it on the London Stock Exchange, the company’s chief executive Pawel Gricuk said, according to Polish daily Puls Biznesu…

Interfax: Kazzinc acquires Kaz-Tyumen

Kazzinc has become an owner of Kaz-Tyumen (Ridder city, East-Kazakhstan) processing lead accumulator scrap, Kazzinc said in a press release…

Interfax: KazMunaiGas acquires Naftrans assets for $220 ml

The KazMunaiGas group has acquired all operating assets of Naftrans for $220 ml, ENR Russia Invest, one of Naftrans investors, said in a press release…

Interfax: Government approves farm produce supply policy for northern regions

State committee on Modernization of Economy backed the proposal submitted by civic entrepreneurial corporations (SEC): Sary-Arka (Akmola oblast) and Ontustik (South-Kazakhstan oblast) suggesting ways to meet the farm produce demand in the northern regions of the republic…

Hemscott: JSC Halyk Savings Bank awarded licence to carry out operations in Mongolia

JSC Halyk Savings Bank of Kazakhstan said its Mongolian subsidiary Halyk Astana Dornod LLC has been awarded a licence to carry out non-banking financial operations in the territory of Mongolia for three years…

EurasiaNet: Russia makes financial gamble to retain control of Central Asia energy exports

Kazakhstan, along with its Central Asian neighbors Turkmenistan and Uzbekistan, will receive a huge increase in energy-related revenue following a flurry of regional diplomatic activity. Ukraine, meanwhile, stands to lose the most under the new pricing framework for Central Asian natural gas…

UPI: Analysis: Central Asia and Gazprom

Kazakhstan, Turkmenistan and Uzbekistan have long chafed under Gazprom’s pricing arrangements for their natural gas exports, as the energy giant has long adhered to the policy of buy cheap, sell dear…

Neweurasia.net: A Central Asian gas OPEC

The fact that Russia may pay ‘European prices’ for the Central Asian gas next year does not necessarily mean that the Great Game is over and that the West and China have nothing to look for in the region…

World Magazine: Mafia state

Last month, police and state security forces subjected Grace Church of Almaty to a 17-hour raid, confiscating computer hardware and Christian literature. State-run media alleged that the church was engaged in espionage, financial impropriety, and possession of drugs…

TREND: Turkmenistan to take part in Caspian and trans-Caspian gas pipeline projects: President

Turkmenistan will participate both in the Caspian and trans-Caspian gas pipeline projects, Turkmen President Gurbanguly Berdymukhamedov said, ITAR-TASS reports…