news roundup
News Roundup - March 27, 2008
Bloomberg: Kazakhmys rises in London as Kazakhstan seeks stake
Kazakhmys Plc, Kazakhstan’s biggest copper producer, rose in London trading after saying the country is seeking to acquire as much as 15 percent of the company in return for natural-resource assets…
A Kazakh military court Wednesday sentenced the former son-in-law of President Nursultan Nazarbayev in absentia to 20 years in jail on a range of charges, including planning a coup, the Prosecutor General’s office said in a statement…
BBC News: Kazakh son-in-law ‘gets 20 years’
The court said Aliyev and 16 others trained elite forces, and secretly imported military equipment, in order to overthrow the state…
Guardian Unlimited: Bankers urge Kazakh govt to stay out of business
Kazakhstan should not overdo efforts to boost state influence over strategic sectors of the economy if it wants to stay attractive for investors, two senior bankers said on Wednesday…
TREND: Kazakhstan’s parliament approves of bill on ratification of agreement on Azerbaijan’s BTC
On 26 March, Kazakhstan’s Parliament approved of the bill on ratification of the agreement with Azerbaijan on support and assistance to transportation of oil from Kazakhstan via the Caspian Sea and Azerbaijan to the international markets through the Baku-Tbilisi-Ceyhan (BTC) system…
Reuters: Kazakh Alliance bank sees lower profit in 2008
Alliance, Kazakhstan’s fourth-largest bank, expects its net profit to decline this year following a surge in last year’s profits, the bank’s chief executive said on Wednesday…
Reuters: ENRC’s Sittard looking west from Kazakh mines
A family tradition has taken Johannes Sittard from a German classroom to the helm of one of the newest entrants to the FTSE 100 share index, mining firm Eurasian Natural Resources Corp…
Financial Times: Oriel Resources agrees takeover by Russia’s Mechel
Mechel, the Russian miner and steelmaker, has agreed a £749m takeover of London-listed Oriel Resources, a mining company with assets in Russia and Kazakhstan…
Wall Street Journal: Russia’s Mechel to buy Oriel in $1.5 billion deal
OAO Mechel said it agreed to pay $1.5 billion for Oriel Resources PLC, a London-based owner of chrome and nickel mines in Kazakhstan, in a move to boost its access to raw materials…
EurasiaNet: US Diplomat: Gazprom’s gains from Central Asia are put to “nefarious uses”
A US official has welcomed recent news that the Kremlin-controlled gas company Gazprom will start paying higher prices for natural gas from Central Asia, saying that it represents a victory of market forces over state-orchestrated monopolistic practices…
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