Archive for October 29th, 2008
Kazakh banks’ combined profits down 61.5 percent in first nine months of 2008
(SRI) - The combined net profit of all 36 banks operating in Kazakhstan for the first nine months decreased by 61.5 percent to KZT 71.0 billion (USD 592 million) compared to the same period last year.
ShalkiyaZinc’s first half results disappoint
(SRI) - ShalkiyaZinc NV, a London-listed mining company reported a net loss of USD 8.439 million in the first six months of 2008, compared to a net profit of $2.762 million in the same period last year.
Kazakhstan Daily News Roundup - October 29, 2008
ENERGY:
Kashagan deal to be signed by Friday
(SRI) - Kazakhstan and AgipKCO, the consortium of oil companies developing the giant Kashagan oil field, hope to sign a final agreement over the project on Friday, putting an end to a dispute that started almost 18 months ago.
Petrolinvest studying merger with MI Energy Corporation
(SRI) - Petrolinvest, the Kazakhstan-focused oil exploration company, signed a letter of intent with Chinese MI Energy Corporation to study the possibility of a merger between the two companies.
Rosco announces cash offer for Arawak
(OilVoice) - The board of Rosco announces the terms of a pre-conditional all cash offer to be made by Rosco for the entire issued and to be issued share capital of Arawak.
MINERAL RESOURCES:
Kazakh miners cut output as crisis hits demand
(Reuters - Guardian) - Kazakhstan’s leading miners, ENRC and Kazakhmys, are scaling back production as the global financial crisis hits demand for their metals.
Industry and Trade Minister suggests steps to prop up metal and mining sector (Interfax)
Kazakhstan Industry Ministry suggests lifting export customs duties on aluminium (Kazakhstan Today)
BUSINESS AND ECONOMY:
Kazakh government to pump USD 5 billion into largest banks
(SRI) - Kazakh government offered to take equity stakes of up to $5 billion in the country’s four largest banks to prevent potential collapse of the banking sector during the global financial crisis.
Kazakh government will purchase USD 5 billion in SamrukKazyn obligations
(Interfax) - Kazakhstan will use National Fund resources to purchase $5 billion in obligations of SamrukKazyna national welfare fund.
Kazakh Government not to nationalize banks (Kazinform)
Kazakhstan Prime Minister and Hong Kong investment company Oriental Patron Financial Group discussed bilateral cooperation (Kazakhstan Today)
National Bank of Kazakhstan: Exchange rates October 29, 2008 (Kazinform)
Indicators - October 28, 2008 (Reuters)
POLITICS:
Russian PM to visit Kazakhstan (Kazinform)
Backgrounder: Basic facts about China-Kazakhstan relations (Xinhua)
Kazakhstan-NATO coop should be raised to a brand new level: Ministry of Defense (Kazinform)
SOCIETY:
Architectural emblems of Kazakhstan’s energy wealth (Architectural Record)
Kazakhstan Society Roundup
Architectural emblems of Kazakhstan’s energy wealth (Architectural Record)
Kazakhstan Politics Roundup - October 29, 2008
Russian PM to visit Kazakhstan (Kazinform)
Backgrounder: Basic facts about China-Kazakhstan relations (Xinhua)
Kazakhstan-NATO coop should be raised to a brand new level: Ministry of Defense (Kazinform)
Kazakhstan Business and Economy Roundup - October 29, 2008
Kazakh government to pump USD 5 billion into largest banks
(SRI) - Kazakh government offered to take equity stakes of up to $5 billion in the country’s four largest banks to prevent potential collapse of the banking sector during the global financial crisis.
Kazakh government will purchase USD 5 billion in SamrukKazyn obligations
(Interfax) - Kazakhstan will use National Fund resources to purchase $5 billion in obligations of SamrukKazyna national welfare fund.
Kazakh Government not to nationalize banks (Kazinform)
Kazakhstan Prime Minister and Hong Kong investment company Oriental Patron Financial Group discussed bilateral cooperation (Kazakhstan Today)
National Bank of Kazakhstan: Exchange rates October 29, 2008 (Kazinform)
Indicators - October 28, 2008 (Reuters)
Kazakhstan Mineral Resources Roundup - October 29, 2008
Kazakh miners cut output as crisis hits demand
(Reuters - Guardian) - Kazakhstan’s leading miners, ENRC and Kazakhmys, are scaling back production as the global financial crisis hits demand for their metals.
Industry and Trade Minister suggests steps to prop up metal and mining sector (Interfax)
Kazakhstan Industry Ministry suggests lifting export customs duties on aluminium (Kazakhstan Today)
Kazakhstan Energy Roundup - October 29, 2008
Kashagan deal to be signed by Friday
(SRI) - Kazakhstan and AgipKCO, the consortium of oil companies developing the giant Kashagan oil field, hope to sign a final agreement over the project on Friday, putting an end to a dispute that started almost 18 months ago.
Petrolinvest studying merger with MI Energy Corporation
(SRI) - Petrolinvest, the Kazakhstan-focused oil exploration company, signed a letter of intent with Chinese MI Energy Corporation to study the possibility of a merger between the two companies.
Rosco announces cash offer for Arawak
(OilVoice) - The board of Rosco announces the terms of a pre-conditional all cash offer to be made by Rosco for the entire issued and to be issued share capital of Arawak.
Kazakh government to pump USD 5 billion into largest banks
(SRI) - Kazakh government offered to take equity stakes of up to $5 billion in the country’s four largest banks to prevent potential collapse of the banking sector during the global financial crisis.
Kashagan deal to be signed by Friday
(SRI) - Kazakhstan and AgipKCO, the consortium of oil companies developing the giant Kashagan oil field, hope to sign a final agreement over the project on Friday, putting an end to a dispute that started almost 18 months ago.
