Archive for June 20th, 2008
ANALYSIS: Kazakhstan’s stock market - the missing link
Although the Kazakhstan Stock Exchange (KASE) is the most developed in Central Asia, its development has been slow compared to the country’s banking sector. It now faces an uphill struggle due to intense competition from foreign exchanges for Kazakhstan’s highly attractive pipeline of IPOs.
Kazakhstan Mineral Resources Roundup - June 20, 2008
ArcelorMittal wins in Kazakhstan tax appeal case
(Reuters) - A Kazakh court confirmed on Thursday its decision to cancel a $830 million back tax claim against ArcelorMittal’s local subsidiary, officials at the company and the Tax Committee said.
Sunkar Resources to float on AIM (Silk Road Intelligencer)
European Minerals and Lero Gold complete business combination (Marketwire)
Kazakhstan News Roundup - June 20, 2008
energy:
Toshiba to develop, procure metals from Kazakhstan
(Reuters) - Japan’s Toshiba Corp is to sign an agreement with Kazatomprom on a partnership to develop rare metals in a bid to counter rising raw materials prices, a Japanese government source said on Friday.
Kazakh, Azeri relations linked to BTC line
(UPI) - The Baku-Tbilisi-Ceyhan oil pipeline provides Azerbaijan and Kazakhstan an opportunity to make an impact in the world energy market, a lawmaker said.
Azerbaijan and Kazakhstan announce coordinated transit policy on energy resources (Azerbaijan Business Center)
Caspian Energy says Baktygaryn 703 exploration well to be plugged (Hemscott – Thomson Financial)
mineral resources:
ArcelorMittal wins in Kazakhstan tax appeal case
(Reuters) - A Kazakh court confirmed on Thursday its decision to cancel a $830 million back tax claim against ArcelorMittal’s local subsidiary, officials at the company and the Tax Committee said.
Sunkar Resources to float on AIM (Silk Road Intelligencer)
European Minerals and Lero Gold complete business combination (Marketwire)
business and economy:
Islamic financing to launch in Kazakhstan
(Silk Road Intelligencer) - Kazakhstan will launch first Islamic banking products by the end of 2008, said BTA Bank board member Georgiy Iosifyan.
Kazakhstan: grain millers are not able to export flour
(Agrimarket.info) - Almost over the whole territory of Kazakhstan grain millers report that since this week the national company “Kazakhstan temir zholy” blocked flour shipments for export, reported Eugene Gann, President of Union of Grain Processors and Bakers of Kazakhstan.
K-cell consolidates lead as penetration reaches 83 percent
(Cellular News) - The number of mobile connections in Kazakhstan reached 12.7m at the end of Q1 08, an increase of 4.7m or 58.3% year on year.
Session concerning Kazakhstan accession to WTO held in Almaty
(Kazakhstan Today) - The session concerning Kazakhstan accession to World Trade Organization (WTO) took place in Almaty, the agency reports referring to the press service of European Commission Representation in Kazakhstan and Kyrgyzstan.
World Bank says fishing will return to the Aral Sea
(AP – IHT) - The people of the Aral Sea region, site of one the world’s worst ecological disasters, may soon see their economy revitalized and large-scale fishing and farming return, World Bank President Robert Zoellick said Thursday.
World Bank could finance Western Europe-Western China road construction
(Interfax) - The Kazakh government and the World Bank (WB) are completing talks on financing the project for construction of the Western Europe - Western China road, Kazakh’s Prime Minister Karim Masimov said.
World Bank Group president praises prudent policies and reaffirms commitment to support growth in Kazakhstan (World Bank Group)
JSC Compass Asset Management acquires shares in Khan Resources Inc. (CNW Group)
N. Nazarbayev stands for Kazakh-Japanese economic partnership enlargement (Kazinform)
National Bank of Kazakhstan: Exchange rates June 20, 2008 (Kazinform)
Indicators – June 19, 2008
(Reuters) - Kazakhstan’s economic indicators based on data provided by the State Statistics Agency, government institutions, the central bank and exchanges.
politics:
Nazarbaev awarded with Japan’s highest order (Interfax)
society:
Forge a Unity of Purpose, Then Conquer the World
(New York Times) - “Mongol” — or, as I prefer to think of it, “Genghis Khan: The Early Years” — is a big, ponderous epic, its beautifully composed landscape shots punctuated by thundering hooves and bloody, slow-motion battle sequences.
Kazakhstan Society Roundup - June 20, 2008
Forge a Unity of Purpose, Then Conquer the World
(New York Times) - “Mongol” — or, as I prefer to think of it, “GenghisKhan: The Early Years” — is a big, ponderous epic, its beautifully composed landscape shots punctuated by thundering hooves and bloody, slow-motion battle sequences.
Business and Economy Roundup - June 20, 2008
Islamic
financing to launch in Kazakhstan
(
will launch first Islamic banking products by the end of 2008, said BTA Bank
board member Georgiy Iosifyan.
Kazakhstan:
grain millers are not able to export flour
(Agrimarket.info) - Almost over the whole territory of
Kazakhstan grain millers report that since this week the national company
“Kazakhstan temir zholy” blocked flour shipments for export, reported
Eugene Gann, President of Union of Grain Processors and Bakers of Kazakhstan.
K-cell
consolidates lead as penetration reaches 83 percent
(Cellular
News) - The number of mobile connections in
reached 12.7m at the end of Q1 08, an increase of 4.7m or 58.3% year on year.
Session
concerning Kazakhstan accession to WTO held in Almaty
(
Today) - The session concerning
accession to World Trade Organization (WTO) took place in Almaty, the agency
reports referring to the press service of European Commission Representation in
World
Bank says fishing will return to the Aral Sea
(AP – IHT) - The people of the
region, site of one the world’s worst ecological disasters, may soon see their
economy revitalized and large-scale fishing and farming return, World Bank
President Robert Zoellick said Thursday.
World
Bank could finance Western Europe-Western China road construction
(Interfax) - The Kazakh government and the World Bank (WB)
are completing talks on financing the project for construction of the
Europe
Minister Karim Masimov said.
World
Bank Group president praises prudent policies and reaffirms commitment to
support growth in Kazakhstan (World Bank Group)
JSC
Compass Asset Management acquires shares in Khan Resources Inc. (CNW Group)
N.
Nazarbayev stands for Kazakh-Japanese economic partnership enlargement
(Kazinform)
National Bank of Kazakhstan: Exchange rates
June 20, 2008 (Kazinform)
Indicators
– June 19, 2008
(Reuters) - Kazakhstan’s economic indicators based on data
provided by the State Statistics Agency, government institutions, the central
bank and exchanges.
Islamic financing to launch in Kazakhstan
(Silk Road Intelligencer) - Kazakhstan will launch first Islamic banking products by the end of 2008, said BTA Bank board member Georgiy Iosifyan.
Iosifyan said that a legal framework enabling Islamic banking in Kazakhstan was likely to be adopted by the end of the year, speaking on Wednesday at the round table conference Banking Sector of Kazakhstan in Almaty.
“Islamic banking is a must for any country with large Moslem population. Since Kazakhstan has several million of Moslems who would like to conduct their basins in line with Shariah laws, it would be useful to provide them with Islamic financing,” he pointed out.
BTA Bank plans to promote Islamic banking beyond Kazakhstan’s borders. “First, BTA Bank plans to introduce Islamic banking in Kazakhstan and then we plan to take it out to the CIS countries that have Moslem population.”
Islamic finance is finance in accordance with Islamic law (Sharia) principles and guided by Islamic economics. In particular, Islamic law prohibits usury, the collection and payment of interest. In addition, Islamic law prohibits investing in businesses that are considered unlawful, such as businesses that sell alcohol, cigarettes or arms.
Sunkar Resources to float on AIM
(Silk Road Intelligencer) - Sunkar Resources, an integrated phosphate fertiliser manufacturer, announced its plans to float on the AIM, reported Interfax.
The UK registered company has a 90 percent interest in Temir-Service LLP, a limited liability partnership in Kazakhstan. Temir Service LLP holds the subsoil use contract with the Ministry of Energy and Mineral Resources in Kazakhstan for the production of phosphorite ore on the Chilisai Deposit. The Chilisai phosphate deposit is one of the largest known deposits in the former Soviet Union.
The company’s nominated adviser and broker is Canaccord Adams. The dealing in the company’s shares is expected to start in late June.
Energy Roundup - June 20, 2008
Toshiba
to develop, procure metals from Kazakhstan
(Reuters) -
Toshiba Corp is to sign an agreement with Kazatomprom on a partnership to
develop rare metals in a bid to counter rising raw materials prices, a Japanese
government source said on Friday.
Azeri relations linked to BTC line
(UPI) - The Baku-Tbilisi-Ceyhan oil pipeline provides
and
an opportunity to make an impact in the world energy market, a lawmaker said.
Kazakhstan announce coordinated transit policy on energy resources (
Caspian
Energy says Baktygaryn 703 exploration well to be plugged (Hemscott –
Thomson Financial)
ENRC sells bulk of its aluminum and iron ore production to Russia
Kazakh miner Eurasian Natural Resources Corporation (ENRC) sells the bulk of its alumina to United Company RUSAL (UC RUSAL), the Russian aluminum giant, Kazakhmys plc, the copper corporation that owns 14.59% of ENRC, said in a prospectus.
