News Roundup

News Roundup - May 29, 2008

By SRI ⋅ May 29, 2008 ⋅

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energy:

Caspian Holdings raises 200,000 pounds via placement with CEO-associated fund (Hemscott)

business and economy:

Kazakh central bank to cut reserve requirement

(Reuters) - Kazakhstan’s central bank plans to inject more than $800 million into the banking sector by cutting reserve requirements on banks’ foreign liabilities, a central bank official said on Wednesday.

Kazkommertsbank gets control of Russian unit

(Reuters) - Kazkommertsbank, one of Kazakhstan’s largest lenders, said on Wednesday it has raised its stake in Russian subsidiary Moskommertsbank to 100 percent.

Heavier tax burden not to weaken Kazakhstan’s investment appeal

(Interfax) - Kazakhstan Finance Minister Bolat Zhamishev talked about the new Tax Code and the situation in the financial markets in an interview with Interfax.

Ministry of Agriculture considers necessary to regulate grain export (AgriMarket.info)

In Q1 2008 BTA Bank became the largest bank in Kazakhstan by assets (Business Wire)

No prerequisites for systematic financial crisis exist in Kazakhstan – Prime Minister (Interfax)

Almaty hosts “Kazagrofood-2008” Forum (Kazinform)

The next foreign investors session is take place in Aturau on June 6 (Kazakhstan Today/Gazeta.kz)

Chymkent-Urumchi flight temporarily cancelled (Kazakhstan Today/Gazeta.kz)

Microsoft General Manager in Kazakhstan leaves his post (Kazinform)

National Bank of Kazakhstan: Exchange rates May 29, 2008 (Kazinform)

politics:

Dmitry Medvedev looks far beyond an energy alliance with Astana

(Eurasia Daily Monitor) - There was a great deal of political calculation aimed at sobering up adamant western leaders to the hard-line stance of the post-Putin Kremlin in Dmitry Medvedev’s first foreign trip to Astana as Russian President on May 22.

society:

Kazakhstan debates polygamy amid regional rise in popularity

(RFE/RL) - Want a second wife? Then simply get your first wife’s consent and prove you can financially support another family. A new draft law in Kazakhstan would allow any man who is able to meet those two requirements to take a second, third, or even a fourth wife.

Kazakh teachers and doctors register an association to protect their rights (Interfax)

Kazakh-Russian coop in educational sphere to be discussed (Kazinform)

regional news:

Euro-Asian oil transportation corridor proposed at Kyiv energy summit

(Eurasia Daily Monitor) - The presidents of Azerbaijan, Georgia, Ukraine, Poland, and Lithuania agreed on May 22 and 23 in Kyiv on steps to create a Euro-Asian Oil Transportation Corridor. The planned EAOTC is a centerpiece to the concept of an Energy Transit Space, which was also launched at the Kyiv summit of Caspian, Black Sea, and Baltic countries.