News Roundup

News Roundup - May 20, 2008

By SRI ⋅ May 20, 2008 ⋅

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energy:

Kazakhstan bans export of oil products amid soaring fuel costs

(AP/International Herald Tribune) - Kazakhstan on Monday banned the export of all refined oil products, news agencies reported, as the energy-rich Central Asian nation grapples with soaring fuel costs.

Caspian Energy Hub announces affiliation with three world class technical institutes (AME Info)

Roxi Petroleum provides update of activities in Kazakhstan (OilVoice)

Transmeridian Exploration announces director appointments and director resignations (Prime Newswire/Yahoo! Finance)

business and economics:

Food costs may lift Kazakh inflation to 10 percent - FinMin

(Reuters/Guardian) - Inflation in Kazakhstan could reach double digits this year Finance Minister Bolat Zhamishev said on Sunday as spikes in global food and energy prices slice into consumer spending power in the Central Asian economy.

Qatar, Bahrain Islamic banks eye Kazakh growth

(Reuters) - Qatar Islamic Bank and Bahrain’s Ithmaar Bank on Monday announced moves into Kazakhstan, an increasingly popular destination for Gulf Islamic lenders eyeing deals outside their crowded home markets.

Ithmaar Bank and the government of Kazakhstan ready to launch $1bn CIS regional energy fund

(AME Info) - Ithmaar Bank, a Bahrain-based investment bank with global reach, announced the launch of the $1bn Ithmaar Kazyna CIS Energy Fund, in partnership with Kazyna Capital Management, a subsidiary of Kazakhstan’s Sustainable Fund, Kazyna.

Kazakhstan to resume wheat exports, seek shipments

(Kazinform) - Kazakhstan, the world’s fifth-largest wheat exporter, will allow unlimited grain exports after its ban expires in September, said Bolat Zhamishev, the country’s finance minister.

President Nazarbaev blames speculative activities for world food market cataclysms (Interfax)

Kazakhstan’s economy endures worldwide financial crisis (Stockhouse.com/CaspioNet)

National Bank of Kazakhstan: Exchange rates May 20, 2008 (Kazinform)

Russia, Kazakhstan and Ukraine trade volumes lead in EBRD-backed financing programme (Kazinform)

National Bank’s measures allow preserving country’s financial stability: A. Saidenov (Kazinform)

Kazakh forex reserves +$244.3M to $20.97B in two weeks to May 15 (fxstreet.com/Dow Jones)

Indicators - May 19, 2008

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

politics:

Kazakhstan sees Middle East countries as perspective partners - Nazarbayev (Kazakshtan Today/Gazeta.kz)

Relations of Kyrgyzstan and Kazakhstan becoming as ones of allies (Kazakshtan Today/Gazeta.kz)

President of Kazakhstan and King of Jordan discussed perspectives of bilateral cooperation (Kazakshtan Today/Gazeta.kz)

Kazakh Premier received French delegation (Kazinform)

New Chairman of Astana Nur Otan affiliate elected (Kazinform)

Astana hosts III Session of the SCO Supreme Courts’ heads (Kazinform)

regional news:

Russia-Iran rail link to open in 2011

(Reuters) - A railway linking Russia and Iran via Kazakhstan and Turkmenistan will open in December 2011, a top Turkmen executive said on Monday.