Kazakhstan Daily News Roundup - January 30, 2009

news roundup

Kazakhstan Daily News Roundup - January 30, 2009

By SRI ⋅ January 30, 2009 ⋅

HEADLINE NEWS:

Alliance Bank to be taken over by Samruk-Kazyna, market speculates
(SRI) - Alliance Bank, Kazakhstan’s embattled fourth largest bank, denied rumors that Samruk-Kazyna, the state holding and investment company, plans to take over the bank.

ENERGY:

KMG EP announces 2008 results
(SRI) - KazMunaiGas Exploration Production (KMG EP) produced 11.954 million tons of crude oil in 2008, a 12.4 percent increase compared to the previous year.

MINERAL RESOURCES:

Kazakhmys suspends operations, forecasts lower output
(Easy Bourse - Dow Jones) - London-listed Kazakhmys reported a roughly unchanged copper cathode production for 2008 but expects 2009 output to decline 10-15 percent due to company cost-cutting efforts.

Kazakhstan to offer miners tax cuts to avoid layoffs
(Reuters) - The government of Kazakhstan, home to several large mining companies, plans to offer tax cuts to miners in exchange for pledges not to sack their workers.

BUSINESS AND ECONOMY:

Prime Minister tells bankers not to sit on bailout funds (EurasiaNet)

National Bank of Kazakhstan: Exchange rates January 30, 2009 (Kazinform)

Indicators - January 30, 2009 (Reuters)