News Roundup - April 29, 2008

energy:

KazMunaiGas E&P Q1 oil output grows 26 pct

(Reuters) - London-listed Kazakh oil producer KazMunaiGas Exploration and Production (KMG E&P) said on Monday its output rose 26.4 percent in the first quarter of 2008 due mainly to acquisitions…

Imperial Energy to cut investment 7% to 8.75 bln rubles in 2008 (Interfax)

TMK begins delivery large diameter pipes for Kazakhstan-China oil pipeline (Thomson Financial/Forbes)

mineral resources:

ENRC’s meteoric ascent checked by broker downgrade

(Financial Times) - The Kazakh miner has been a phenomenal performer since its float late last year, rising more than 160 per cent in four months to touch another record high earlier this week. The rise was checked yesterday as ABN Amro slashed its stance on the stock from “buy” to “hold”…

Zincox profits triple after sale of Kazakh mine interest

(ShareCast/Yahoo! Finance) - Pre-tax profits in the year to December 31 rose to £15.5m from £4.9m the previous year, due to deferred payments from the sale of interests in the Shaimerden Zinc mine in Kazakhstan…

business and economy:

Kazkommertsbank says written off loans a very small portion of provisions

(Thomson Financial/Hemscott) - JSC Kazkommertsbank has responded to a critical Fitch Ratings report on Kazakh banks by saying its written-off loans have historically always been a very small portion of accrued provisions…

Lufthansa hopes to increase passenger traffic to Kazakhstan by 5%-6% in 2008 (Interfax)

Air Astana appoints GSA for Australia and New Zealand (Kazinform)

Railway tariffs for export, import freights to grow: Minister S. Akhmetov (Kazinform)

Kazakhstan - Kazakhstan - April 28

(Reuters) - Kazakhstan’s economic indicators based on data provided by the State Statistics Agency, government institutions, the central bank and exchanges…

politics:

Kazakhstan intends to study Singapore expertise in public administration (Kazakhstan Today/Gazeta.kz)

Perspectives of cooperation with Kazakhstan with the Persian Gulf countries will be discussed in Kuwait (Kazakhstan Today/Gazeta.kz)

Amman ready to establish cooperation relations with Astana (Kazinform)

Kazakhstan to attend International Islamic Economic Forum (Kazinform)

society:

Growing threats to religious property in Kazakhstan (Christian Today)

other news:

Earthquake in Western Kazakhstan damages 120 houses

(Interfax) - The earthquake of 5.5 on the Richter scale that shook the Rybtsekh village in Western Kazakhstan last Statuary damaged 123 houses and a school building, a special committee concluded after examining the area…

Israeli communications satellite launched

(AFP) - A rocket carrying an Israeli communications satellite was successfully launched Monday from a Russian base in Kazakhstan, television footage showed…

analysis:

Central Asia: Water woes stoke economic worries

After enduring extreme cold this past winter, Central Asia is bracing for what some officials say will be a dry summer. Those predictions, in turn, are stirring fears of prolonged power shortages that seriously impair economic functions…