Archive for April 8th, 2008
Financial Sector: Is There Light at the End of the Tunnel?
From the Kazakhstan International Business Magazine - the original article can be found here.
According to analysts, global markets have stepped into the second phase of the financial crisis caused by the U.S. subprime mortgage crisis. The reason for this conclusion was a sharp fall in the prices of shares traded by the major stock exchanges in late November. Sceptics began to talk about “black days” of the stock market. And, although the dynamics of stock markets and of economies are not always linked to each other directly, it is likely that bear markets from the New World to the Land of the Rising Sun will affect the debt capital markets. For Kazakh banks this means more than an appreciation in external funds. The very opportunity of borrowing abroad and refinancing earlier debts is now questionable. Analysts say that, in this situation, domestic banks can only rely on domestic funds, their own non-core assets and government support.
News Roundup - April 8, 2008
business and investment:
RIA Novosti: Kazakhstan may impose grain export restrictions
Kazakhstan may introduce grain export duties or ban grain exports completely to protect the domestic market, Prime Minister Karim Masimov told a government conference on Monday…
The Guardian: Kazakhstan may suspend grain exports - PM
Kazakhstan may suspend grain exports altogether or introduce export duties to tame domestic inflation, the Central Asian nation’s prime minister said on Monday…
Prague Daily Monitor: PPF buying smaller bank in Kazakhstan
The PPF group of entrepreneur Petr Kellner is completing the acquisition of a Kazakh bank and the size of the investment ranges from $10m to $50m (up to Kc800m), the weekly Euro writes in an edition to appear on Monday…
Gazeta.KZ: Second level banks used 86,2% capital from budget for business support
“Kazakhstan Today” Second level banks used 86,2% capital, allocated from the budget, to bolster small and medium business. It was announced today by Bakhyt Sultanov, economy minister during selector session in the parliament, agency reports…
Second investment forum “Potential of Caspian Economic Space and Perspectives of Its Development” to take place in the oblast center of Mangystau oblast - in Aktau on April 16…
Cargonews Asia: Lufthansa cargo centre hinges on night flights
Using a carrot-and-stick approach, Lufthansa once again raised the issue of restrictions on night flights at Frankfurt Airport at the presentation of its 2007 annual business report…
Kazinform: “DBK leasing” JSC financing large machine-building project
DBK leasing JSC, subsidiary organization of the Development Bank of Kazakhstan JSC, has started financing the project of “Petropavlovsk Heavy Machine Building Plant”…
real estate:
St. Petersburg Times: Kazakh state helps construction industry
The Kazakh government is spending 242.5 billion tenge ($2 billion) to prop up the construction industry, which is suffering from a shortage of financing amid the global credit crunch…
mineral resources:
ABN Newswire: Central Asia Resources moves from explorer to gold producer in Kazakhstan
Australian resources company Central Asia Resources Limited recently announced revised or maiden Resource statements for Altyntas, Kepken, Kengir and Uenke Bulak gold prospects within Kazakhstan and is now pleased to announce its strategy for these 4 prospects…
energy:
Reuters: Kazakhstan oil blocks offered to investors
Kazakhstan may impose an oil export duty as soon as mid-2008 to stabilise domestic supplies, Deputy Energy Minister Lyazzat Kiinov told Reuters on Monday…
Reuters: Kazakhstan may impose oil duty from 2008
Kazakhstan may impose an oil export duty as soon as mid-2008 to stabilise domestic supplies, a senior government official said on Monday, in a development likely to worry potential newcomers to its oil business…
politics:
Economic Times: India seeks energy cooperation with Kazakhstan
India on Monday sought Kazakhstan’s help to ensure its energy security as the two countries agreed to enhance bilateral trade and economic cooperation…
Gazeta.KZ: President of Kazakhstan to visit India in November
Nursultan Nazarbayev President of Kazakhstan will visit India in November. It was announced during meeting with Mohamad Hamid Ansari, vice-president of India informed Aslan Mussin, chairman of mazhilis of the parliament of Kazakhstan, agency reports…
Gazeta.KZ: Meeting “Three of the EU - Central Asian countries” to be held in Ashgabad
Meeting “Three of the EU - Central Asian countries” to be held in Ashgabad on April 10 on foreign ministers level…
Kazinform: Special rep of NATO Secretary General to visit Astana
“NATO Secretary General’s Special Representative for Caucasus and Central Asia Robert Simmons will pay a visit to Astana on April 10-11,” MFA’s official spokesperson Yerzhan Ashikbayev told a weekly briefing…
Interfax: Anti-corruption center set up in Almaty
Transparency Kazakhstan has launched an anti-corruption consulting center in Almaty, said CEO of Transparency Kazakhstan Vitaliy Voronov…
Interfax: Government manages to maintain inflation within fixed frame - PM
In the first quarter this year Kazakhstan government has managed to keep inflation within the set limits, Prime Minister Karim Masimov said…
education and sport:
Kazinform: Kazakhstan & the 2008 olympics
The National Olympic team of Kazakhstan comprises 365 athletes - among them one Olympic champion and five Olympic runners-up, 15 world champions and 26 world championship prize-takers…
regional news:
The Journal of Turkish Weekly: Winter exposes weaknesses of Central Asian economies
Governments of all Central Asian republics grapple with the problems fomented by the previous winter without any real hope of solving them on their own…
