News Roundup - March 20, 2008

Financial Times: Kazakhstan court ruling fuels gas row

An environmental dispute brewing between Kazakhstan and a foreign oil consortium tapping the Karachaganak field might herald further moves by the central Asian country to gain influence over the crown jewels of its oil industry…

Bloomberg: Kazakhstan Curbs Foreign Borrowing by Banks to Ease Dependence

Kazakhstan will curb foreign borrowing by domestic banks as it seeks to strengthen its financial markets in response to the global credit squeeze…

Forbes: Kazakhstan’s Kazatomprom upgraded to ‘BBB-’; outlook cut to stable - Fitch

Fitch Ratings upgraded Kazakhstan-based JSC National Atomic Company Kazatomprom and revised the outlook to stable from positive…

Reuters: Kazkommertsbank sees net profit up 20 pct in 2008

Kazkommertsbank, Kazakhstan’s biggest bank, expects its 2008 net profit to grow by about 20 percent compared to last year, a senior bank official said on Wednesday…

Reuters: Kazkommertsbank 2007 profit more than doubles

Kazkommertsbank, Kazakhstan’s biggest bank, said on Wednesday its net profit more than doubled to 57.8 billion tenge ($478 million) in 2007 largely due to higher interest income…

Reuters: Kazakhstan gold/forex reserves rise to $19.5 bln

Kazakhstan’s net gold and foreign currency reserves rose to $19.5 billion as of March 14 from $19.0 billion on Feb.29, the central bank said on Wednesday…

CNN Money: Bank Centercredit IDR outlook changed to evolving on Kookmin’s stake buy - Fitch

Fitch Ratings said it has changed the outlook on Kazakhstan-based Bank Centercredit’s ‘BB-’ long-term issuer default rating to evolving from negative and affirmed the rating, after South Korea’s largest lender, Kookmin Bank, said it has agreed to purchase a majority stake in BCC in a bid to expand its global operations…

Hemscott: Roxi Petroleum gets approval for acquisition of seismic survey in Kazakhstan

Roxi Petroleum PLC said it has received all environmental and regulatory approvals for the acquisition of a 121 square kilometre 3D seismic survey over the Beibars contract area in western Kazakhstan after a three-month delay…

Interfax: FSA introduces new requirements to support stability of commercial banks

The National Financial Supervision Agency (FSA) is introducing new requirements aimed at supporting the stability of the commercial banks…

Interfax: Trade unions may go to court against government to raise salaries for employees paid from budget

Leaders of Kazakhstan’s trade unions may go to court against the government to get a raise in the salaries of the employees paid from the budget…

Ferghana.ru: Kazakhstan: 25,000 domains in the national web-zone

Kazakhstan Today reported 16,431 domains registered in the .KZ zone in early 2007. PROFIT Online evaluated their number at 25,000 a year later…

Regnum: Kazakhstani expert: Serious struggle for Chinese energy market may start in Central Asia

The expert was commenting on Kazakhstan and China’s agreement to construct a section of a gas pipeline through which Turkmenistan has taken an obligation to annually supply 30 bn cubic meters of gas to the Chinese Republic of China, starting in 2009…

Neweurasia.net: Turkish Saga Continued

Nearly a month ago neweurasia reported on the incident that had taken place in Almaty in late January - then a group of 30 masked men attacked 40 Turkish employees of the construction firm BN Pegasus…

RIA Novosti: Kazakhstan bus crash claims 7 lives

Seven people were killed and 20 injured in a bus crash in Kazakhstan on Tuesday, the emergencies ministry said…