news roundup
News Roundup - April 10, 2008
energy:
RIA Novosti: Kazakhstan to invest $10 bln in Caspian oil and gas center
Kazakhstan intends to invest about $10 billion to create a Caspian oil and gas industry center in the country’s west, the press office of the Kazakhstan president said on Wednesday…
Kazinform: Kazakh President approved realization of Caspian energy hub project
“President of Kazakhstan Nursultan Nazarbayev has approved realization of Caspian energy hub project,” chairman of PFC Energy International company Vahan Zanoyan told a briefing after the meeting of the Head of the State with a group of foreign inverstors…
Rigzone: Gulf Finance House plans $10B energy city in Kazakhstan
Gulf Finance House, a Bahrain-based Islamic investment bank, plans to invest $10 billion over the next three to five years to establish an oil and gas services and technology hub in the Kazakh city of Aktau…
neweurasia.net: Kazakhstan introduces oil export tax
Kazakhstan will impose a crude export duty of $109.91 per tonne from May. Although officials have reassured Western companies that the duty is unlikely to affect their existing contracts, but new investors will be liable, it would logically make sense to impose new tax on all exporters…
Kazinform: Kazakhstan, China plan to start work on gas pipeline
China and Kazakhstan will start building a cross-border natural gas pipeline this year and the second phase of a crude oil link between the nations, a China National Petroleum Corp. executive said, Kazinform cites Bloomberg…
Reuters: China’s Datang to build power plants in Kazakhstan
Chinese state-run power producer Datang Corp will sign a deal later on Wednesday to build several power stations in Kazakhstan, in the firm’s biggest investment in the central Asian nation…
Transitions Online: Adding fuel to the fire?
A few months ago a train headed from Kyrgyzstan to Iran was turned back at the Uzbek border after it was found to be carrying highly radioactive material. It had already traveled through southern Kazakhstan without the substance being detected at border checkpoints…
Telegraph: BP and its bosses sued over alleged bribery of officials
British oil giant BP, Tony Hayward and Lord Browne of Madingley have been named in a multi-million dollar lawsuit involving allegations of bribery of government officials in Kazakhstan…
mineral resources:
Reuters: ENRC 2007 pretax profit up 36 pct to $1.32 bln
Kazakh mining group Eurasian Natural Resources posted a 36 percent rise in annual pretax profit on Wednesday as commodity prices surged and said it expects a “strong year” in 2008…
Reuters: ENRC says Kazakhmys one of many global opportunities
Kazakh mining group Eurasian Natural Resources Plc (ENRC.L: Quote, Profile, Research) said it was looking at growth opportunities worldwide and that a possible takeover of rival Kazakhmys (KAZ.L: Quote, Profile, Research) was only one of them…
Forbes: ENRC Booming; Kazakmhys Bid Looming?
Strong commodity prices have helped Eurasian Natural Resources Corp. post record-busting annual profits and fueled talk of a possible bid for fellow miner Kazakhmys…
This Is Money: Booming ENRC defends Footsie presence
We are not just a Kazakhstan company,’ he said. ‘We have growth and acquisition targets to grow internationally. London is the place for a company like us to be. It is the place where the largest mining companies in the world are.’ …
Telegraph: ENRC shows its mettle as Clipper finally spreads its wings
The situation is complicated by the fact the Kazhakstan government holds a stake in both companies, and copper producer Kazakhmys owns 14.6pc of ENR. It means the outcome is less likely to be decided by shareholders than by the Kazakhstan government…
Financial Times: Lombard: A tale of two Kazakh miners
What is the Kazakh equivalent of the UK’s Takeover Panel? The question comes to mind as the two Kazakh miners that are part of the blue-chip FTSE 100 index use Britain’s pukka takeover regulator to resolve the question of whether Eurasian Natural Resources Corporation really intends to buy the other Kazakhmys…
business and investment:
Reuters: Kazakh central bank to buy into banks in case of emergency
Kazakhstan’s central bank told private banks on Wednesday it was ready to buy into their capital should any of them require extra liquidity as a result of the global credit crunch…
Interfax: Kazakhstan’s foreign debts grew 30% in 2007 – National Bank
As at the end of 2007 Kazakhstan’s total external debts reached $96.4 billion vs. $74 billion as at the end of 2006, according to Daniyar Akishev, the deputy chairman of the National Bank’s managing board…
Interfax: Chinese-Kazakh trade turnover may reach $15 billion by 2010 – Kazakh PM
Kazakhstan and China should improve their export-import relations and give more attention to cooperation in the non-primary commodity sectors, Kazakh Prime Minister Karim Masimov said at the Kazakh-Chinese business forum held in Beijing on Wednesday…
The dificit of the current account of Kazakhstan’s balance of payments in 2008 is expected to be at $6-7 billion, according to Daniyar Akishev, the chairman of the National Bank’s managing board…
Economic Times: China to lend Kazakhstan $300 million
Export-Import Bank of China will extend $300 million in preferential loans to the Development Bank of Kazakhstan to finance projects agreed between the two countries, EXIM Bank Governor Li Ruogu said on Wednesday…
Gazeta.KZ: “Caspiy” SEC to launch 10 investment projects in 2008
National company social-entrepreneurial corporation (SEC) “Caspiy” is planning in 2008 to realize 10 investment projects on Mangistay and Atyrau oblasts’ areas…
Kazinform: Fitch assigns Halyk Bank’s upcoming eurobond expected ‘BB+’ rating
Fitch Ratings has today assigned HSBK (Europe) B.V.’s upcoming Eurobond issue of unsecured senior notes an expected Long-term ‘BB+’ rating…
politics:
Kazinform: We reached good political dialogue with Kazakhstan: NATO Special Representative
Kazakhstan and NATO have achieved great advances in cooperation during the recent years. NATO Secretary General’s Special Representative for Caucasus and Central Asia Robert Simmons has made it public today in Almaty at a press conference…
People’s Daily: China, Kazakhstan ink deals
China and Kazakhstan will jointly develop more than 40 projects in sectors such as natural resources, and otherwise expand bilateral economic cooperation, the countries’ premiers agreed yesterday…
Gazeta.KZ: Rearrangements in two core cities of Kazakhstan
The head of Kazakhstan reported about staff rearrangement in the government. He changed the heads of city administrations in Astana and Almaty and gave a number of tasks concerning Kazakhstani capital infrastructure development…
regional news:
Health officials and experts gathered at a regional forum in the Turkmen capital, Ashgabat, on 8 April to assess the achievements and challenges relating to mother and child nutrition in Central Asia…
EurasiaNet: Central Asia: US diplomat claims democratization success for American policy
Washington’s deliberate approach on encouraging democratization in Central Asian states is bearing some fruit, a senior US diplomat contended during an April 8 congressional hearing…
Deutsche Welle: EU walks fine line on trade and human rights in Central Asia
Europe has belatedly discovered Central Asia as an energy supplier. But with its focus on human rights, the EU is likely to have a tougher time wooing the region’s nations than Russia and China…
Moscow Times: EU visiting Turkmenistan to talk energy
Senior EU officials will descend on Turkmenistan this week to promote cooperation with Central Asia, a region that is key to Europe’s ambitions to diversify energy supplies and reduce its dependence on Russia…
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