Archive for September 23rd, 2008
Russia expected to close the deal on CPC within a month
(SRI) - Russia expects to reach a deal on the acqusitions of Oman’s stake in the Caspian Pipeline Consortium (CPC) pipeline within a month and buy its entire 7 percent stake, Russian Energy Minister Sergei Shmatko said.
Avtovaz bought a blocking stake in Azia Avto
(SRI) - Russian carmaker Avtovaz has signed an agreement to purchase a 25 percent plus one share stake in Kazakhstan’s Azia Avto during President Medvedev’s visit to Kazakhstan this week, the two companies announced.
Fitch report on Kazakhstani oil, gas industry
(Fitch Ratings) - Fitch Ratings says in a special report published today that the Kazakhstani oil and gas industry is poised for strong growth, albeit with certain operational and financial risks inherent in its development.
Kazakhstan and Russia to create a venture capital fund focused on nanotechnology
(SRI) - Kazakhstan and Russia are considering the creation of joint venture capital fund that would invest in innovative projects in nanotechnology in Kazakhstan and Russia, Kazakh President Nursultan Nazarbayev said on Tuesday, according to Kazakhstan Today.
Kazakhstan Daily News Roundup - September 23, 2008
ENERGY:
Experts split on possible buyer of BP’s CPC stake
(RBC News) - BP has opened talks with all other CPC participants, of whom Transneft looks to some analysts as the likeliest buyer.
Kazakh leader urges expanding Caspian Pipeline Consortium pipeline (BBC Monitoring - redOrbit)
Kazakhstan seeks to export oil via Russia
(RIA Novosti) - Kazakhstan will increase oil production by 12 million metric tons in 2009 and is interested in pumping it via Russia, the Kazakh president said Monday.
Cameco says has not committed to Kazakh exchange
(Reuters) - Canada’s Cameco Corp said on Monday it wants more transparency in uranium pricing but that it has not pledged support for a Kazakh plan to create an international uranium exchange.
Astana proposes tax changes that would hit energy producers
(EurasiaNet) - Kazakhstan’s government officials seek changes to the county’s tax code to stimulate economic activity among small- and medium-sized businesses. The new code, once approved, would significantly increase the tax burden on large energy companies.
MINERAL RESOURCES:
Frontier says Benkala tests show heap leaching method, SW-EX processing viable
(Thomson Financial - Forbes) - Frontier Mining Ltd. said results from metallurgical tests conducted on ore samples at the Benkala project indicate the viability of heap leaching methods and SX-EW processing for the oxidized part of the Benkala deposit.
BUSINESS AND ECONOMY:
Kazakh market drops as investors turn tail
(bne) - The darling of the emerging markets only a year ago, Kazakhstan’s young stock market is proving unable to withstand the global tide of selling as emerging market investors turn tail and flee.
Kazakh banks CDS debt insurance cost around record
(Reuters) - The cost of insuring the debt of Kazakhstan’s highly leveraged banks was trading around record levels on Monday, with the Central Asian country’s banks seen amongst the most exposed to the global credit crunch.
Russia’s VEB lends Kazakh peer $300 million
(Reuters) - Russia’s state-owned Vneshekonombank (VEB) opened on Monday a $300 million credit facility for the Development Bank of Kazakhstan to finance imports from Russia.
Kazkommertsbank says Kazakh issuers share price drop unreflective of bank
(Thomson Financial - Forbes) - JSC Kazkommertsbank said its net income, asset quality and debt repayment capacity remain unaffected by the sharp decline in equity prices of Kazakh issuers.
Kazakhs drop Georgia port plan, cite instability
(Reuters) - Kazakhstan has abandoned plans to build a grain terminal in Georgia’s port of Poti due to political instability, a worrying sign for the Georgian economy’s hopes of bouncing back after war with Russia.
Kazakh-Russian goods turnover made USD 12 bln in Jan-Jul, 2008: Nazarbayev (Kazinform)
National Bank of Kazakhstan: Exchange rates September 23, 2008 (Kazinform)
Indicators - September 22, 2008 (Reuters)
POLITICS:
Kazakh, Russian Presidents met in Aktobe (Kazinform)
New ambassador of Kazakhstan to Turkmenistan appointed (Kazinform)
Kazakhstan Mineral Resources Roundup - September 23, 2008
Frontier says Benkala tests show heap leaching method, SW-EX processing viable
(Thomson Financial - Forbes) - Frontier Mining Ltd. said results from metallurgical tests conducted on ore samples at the Benkala project indicate the viability of heap leaching methods and SX-EW processing for the oxidized part of the Benkala deposit.
Kazakhstan Business and Economy Roundup - September 23, 2008
Kazakh market drops as investors turn tail
(bne) - The darling of the emerging markets only a year ago, Kazakhstan’s young stock market is proving unable to withstand the global tide of selling as emerging market investors turn tail and flee.
Kazakh banks CDS debt insurance cost around record
(Reuters) - The cost of insuring the debt of Kazakhstan’s highly leveraged banks was trading around record levels on Monday, with the Central Asian country’s banks seen amongst the most exposed to the global credit crunch.
Russia’s VEB lends Kazakh peer $300 million
(Reuters) - Russia’s state-owned Vneshekonombank (VEB) opened on Monday a $300 million credit facility for the Development Bank of Kazakhstan to finance imports from Russia.
Kazkommertsbank says Kazakh issuers share price drop unreflective of bank
(Thomson Financial - Forbes) - JSC Kazkommertsbank said its net income, asset quality and debt repayment capacity remain unaffected by the sharp decline in equity prices of Kazakh issuers.
Kazakhs drop Georgia port plan, cite instability
(Reuters) - Kazakhstan has abandoned plans to build a grain terminal in Georgia’s port of Poti due to political instability, a worrying sign for the Georgian economy’s hopes of bouncing back after war with Russia.
Kazakh-Russian goods turnover made USD 12 bln in Jan-Jul, 2008: Nazarbayev (Kazinform)
National Bank of Kazakhstan: Exchange rates September 23, 2008 (Kazinform)
Indicators - September 22, 2008 (Reuters)
Kazakhstan Energy Roundup - September 23, 2008
Experts split on possible buyer of BP’s CPC stake
(RBC News) - BP has opened talks with all other CPC participants, of whom Transneft looks to some analysts as the likeliest buyer.
Kazakh leader urges expanding Caspian Pipeline Consortium pipeline (BBC Monitoring - redOrbit)
Kazakhstan seeks to export oil via Russia
(RIA Novosti) - Kazakhstan will increase oil production by 12 million metric tons in 2009 and is interested in pumping it via Russia, the Kazakh president said Monday.
Cameco says has not committed to Kazakh exchange
(Reuters) - Canada’s Cameco Corp said on Monday it wants more transparency in uranium pricing but that it has not pledged support for a Kazakh plan to create an international uranium exchange.
Astana proposes tax changes that would hit energy producers
(EurasiaNet) - Kazakhstan’s government officials seek changes to the county’s tax code to stimulate economic activity among small- and medium-sized businesses. The new code, once approved, would significantly increase the tax burden on large energy companies.
Kazakhstan Politics Roundup - September 23, 2008
Kazakh, Russian Presidents met in Aktobe (Kazinform)
New ambassador of Kazakhstan to Turkmenistan appointed (Kazinform)
Astana proposes tax changes that would hit energy producers
(EurasiaNet) - Kazakhstan’s government officials seek changes to the county’s tax code to stimulate economic activity among small- and medium-sized businesses. The new code, once approved, would significantly increase the tax burden on large energy companies.
