News Roundup

News Roundup - March 31, 2008

By SRI ⋅ March 31, 2008 ⋅

Forbes: Kazakhstan’s Zhaikmunai prices IPO at 10 usd per GDR

Zhaikmunai, a privately-owned Kazakh oil and gas group, said the global depositary receipts it is listing on the London Stock Exchange have been priced at 10 usd apiece, valuing the company at 1.1 bln usd…

Reuters: Kazakh ZhaikMunai raises $100 mln via London issue

Kazakh-focused oil and gas producer ZhaikMunai ZKMq.L said on Friday it had raised $100 million by placing a new share issue on the London Stock Exchange to fund growth and new projects…

Reuters: Nazarbayev says will not nationalise oil sector

Kazakh President Nursultan Nazarbayev told Reuters in an interview on Friday he had no intention of following an example set by some Latin American states and nationalising his nation’s booming energy sector…

Reuters: Kazakh leader hints at succession plan

Kazakhstan’s long-serving President Nursultan Nazarbayev made a rare reference to the succession on Friday, saying the time would come when he had to make way for a younger generation…

Reuters: Excerpts of Kazakh president’s interview with Reuters

Kazakh President Nursultan Nazarbayev fielded questions from Reuters on Friday on issues ranging from his possible successor to domestic banking problems, democracy and relations with NATO…

Reuters: Kazakh credit crunch good for equity deals -bankers

The credit crunch that has slowed down Kazakhstan’s stellar economic growth and raised concerns about the stability of its financial system has also created good opportunities for equity investors, bankers say…

Reuters: Kazakh net FDI inflow up in 2007 - central bank

The net inflow of foreign direct investment (FDI) into Kazakhstan increased in 2007, central bank Deputy Chairman Daniyar Akishev said on Thursday…

Reuters: Kazakh state energy firm weighs foreign partnership

Kazakhstan’s state energy firm KazMunaiGas is considering strategic partnerships with Western players to gain access to technology as it ramps up production with a long-term aim of tripling output…

Guardian Unlimited: Kazakh president rules out help for banks

President Nursultan Nazarbayev ruled out state support for Kazakhstan’s beleaguered banking sector on Friday, saying it was already recovering from problems linked to the global credit crunch…

Forbes: Mangistau region’s long-term foreign currency rating raised to ‘BB+’ - Fitch

Fitch Ratings said it upgraded the long-term foreign and local currency ratings of the Mangistau region in Kazakhstan to ‘BB+’ from ‘BB’ with a stable outlook reflecting the region’s almost debt-free status and strong and improving budgetary performance…

HULIQ: Deepest foreign debt dilemma of Kazakhstan is getting worse

Below find the comparison table on economic indexes of particular countries, both Kazakhstan’s partners and those having social, economic or political systems similar to Kazakhstan’s. The data was taken from the above-mentioned sources…

Fox Business: Tethys Petroleum Limited: Secondary listing on Kazakhstan RFCA approved

Tethys Petroleum Limited today announced that the listing of its securities on the Official List of the Regional Financial Centre of Almaty (”RFCA”) Special Trading Floor operated by the Kazakhstan Stock Exchange JSC (”KASE”) has been approved by a Resolution of the Expert Council of the RFCA…

Interactive Investor: Eurasian Natural Resources gets approval for Kazakhstan Stock Exchange listing

Eurasian Natural Resources Corp PLC (ENRC) said the Kazakhstan Stock Exchange (KASE) has approved listing of the company’s shares on the exchange, and that trading on KASE is expected to be on or around April 7…

International Herald Tribune: Kazakh banker criticizes Fed’s help of troubled banks

If Marchenko were in charge of the Fed, some U.S. banks would already have been allowed to fail, and the unprecedented injections of liquidity over the last eight months might not have taken place…

Oil and Gas Journal: PetroChina’s Dushanzi refinery nears completion

China National Petroleum Corp. said the Dushanzi refinery, operated by subsidiary PetroChina Co. Ltd. as part of a larger petrochemical facility, will begin trial operations in August…

RIA Novosti: Apartment building fire hospitalizes 27 people in Kazakhstan

Twenty-seven people, including 14 children, have been hospitalized after inhaling combustion products in an apartment building fire in Kazakhstan’s capital, the republic’s emergencies ministry said on Sunday…