Archive for March 26th, 2009
Kazakhstan Daily News Roundup - March 26, 2009
HEADLINES:
Samruk-Kazyna may withhold support for BTA over early debt repayment
(SRI) - BTA Bank plans to continue repaying its foreign debt as scheduled, however, if any of its creditors ask for early debt repayment, Kazakhstan’s government may reconsider its support for the recently nationalized bank.
Temirbank repays USD150 million Eurobond
(SRI) - Temirbank, a retail-focused subsidiary of Kazakhstan’s biggest bank BTA fully repaid a USD150 million Eurobond due March 23.
Fitch Ratings downgrades BTA and Temirbank
(Fitch Ratings) - Fitch Ratings has today downgraded Kazakhstan-based BTA Bank’s and its subsidiary Temirbank’s Long-term foreign currency Issuer Default Ratings (IDRs) to ‘CC’ from ‘B+’.
KEPCO and Samsung secure USD2.5 billion power plant project
(SRI) - A South Korean consortium led by Korea Electric Power Corp (KEPCO) and building group Samsung C&T has signed a USD2.5 billion deal to build and operate a coal power plant in Kazakhstan, the company said on Wednesday.
ENERGY:
KEPCO and Samsung secure USD2.5 billion power plant project (SRI)
RWE Dea seeks Caspian region gas licences - paper
(Reuters) - RWE oil and gas unit Dea is looking to expand operations in the Caspian gas region, Dea Chief Executive Georg Schoening said.
KazMunaiGas plans to acquire assets in CIS (Interfax)
Arawak moves to cancel stock exchange listings (CNW)
MINERAL RESOURCES:
ENRC looking at “substantial” acquisitions in future
(Dow Jones - NASDAQ) - London-listed Kazakh miner Eurasian Natural Resources Corporation (ENRC) is looking to expand its geographical and commodity footprint through acquisitions on a global basis.
ENRC can exploit the downturn, so hold on for now (Telegraph)
Management changes could be key to ENRC’s future (Times Online)
BUSINESS AND ECONOMY:
Samruk-Kazyna may withhold support for BTA over early debt repayment (SRI)
Temirbank repays USD150 million Eurobond (SRI)
Fitch Ratings downgrades BTA and Temirbank (Fitch Ratings)
Alliance appoints new deputy chairman (SRI)
Kazakhstan’s banking sector hit by allegations of politically motivated manipulation
(EurasiaNet) - Kazakhstan’s Authorities have opened a criminal investigation into the activities of the country’s largest bank. The chief suspects in the case have fled the country, alleging that the charges are politically motivated.
UniCredit to cut 1,400 jobs in Ukraine and Kazakhstan - report (Reuters)
National Bank of Kazakhstan: Exchange rates March 26, 2009 (Kazinform)
Indicators - March 25, 2009 (Reuters)
SOCIETY:
US billionaire promises productive space trip (AP)
BOTA Foundation managing USD84 million in frozen funds in Switzerland embarks on social projects (Interfax)
Kazakhstan Business and Economy Roundup - March 26, 2009
Samruk-Kazyna may withhold support for BTA over early debt repayment (SRI)
Temirbank repays USD150 million Eurobond (SRI)
Fitch Ratings downgrades BTA and Temirbank (Fitch Ratings)
Alliance appoints new deputy chairman (SRI)
Kazakhstan’s banking sector hit by allegations of politically motivated manipulation
(EurasiaNet) - Kazakhstan’s Authorities have opened a criminal investigation into the activities of the country’s largest bank. The chief suspects in the case have fled the country, alleging that the charges are politically motivated.
UniCredit to cut 1,400 jobs in Ukraine and Kazakhstan - report (Reuters)
National Bank of Kazakhstan: Exchange rates March 26, 2009 (Kazinform)
Indicators - March 25, 2009 (Reuters)
Kazakhstan Mineral Resources Roundup - March 26, 2009
ENRC looking at “substantial” acquisitions in future
(Dow Jones - NASDAQ) - London-listed Kazakh miner Eurasian Natural Resources Corporation (ENRC) is looking to expand its geographical and commodity footprint through acquisitions on a global basis.
ENRC can exploit the downturn, so hold on for now (Telegraph)
Management changes could be key to ENRC’s future (Times Online)
Kazakhstan Energy Roundup - March 26, 2009
KEPCO and Samsung secure USD2.5 billion power plant project (SRI)
RWE Dea seeks Caspian region gas licences - paper
(Reuters) - RWE oil and gas unit Dea is looking to expand operations in the Caspian gas region, Dea Chief Executive Georg Schoening said.
KazMunaiGas plans to acquire assets in CIS (Interfax)
Kazakhstan Society Roundup - March 26, 2009
US billionaire promises productive space trip (AP)
BOTA Foundation managing USD84 million in frozen funds in Switzerland embarks on social projects (Interfax)
Alliance appoints new deputy chairman
(SRI) - Alliance Bank named Askar Bishigayev acting deputy chairman of the bank’s management board, the bank said on Wednesday.
Samruk-Kazyna may withhold support for BTA over early debt repayment
(SRI) - BTA Bank plans to continue repaying its foreign debt as scheduled, however, if any of its creditors ask for early debt repayment, Kazakhstan’s government may reconsider its support for the recently nationalized bank, the bank’s chairman said on Wednesday.
Fitch Ratings downgrades BTA and Temirbank
(Fitch Ratings) - Fitch Ratings has today downgraded Kazakhstan-based BTA Bank’s and its subsidiary Temirbank’s Long-term foreign currency Issuer Default Ratings (IDRs) to ‘CC’ from ‘B+’.
Temirbank repays USD150 million Eurobond
(SRI) - Temirbank, a retail-focused subsidiary of Kazakhstan’s biggest bank BTA fully repaid a USD150 million Eurobond due March 23, the bank announced on Wednesday.
KEPCO and Samsung secure USD2.5 billion power plant project
(SRI) - A South Korean consortium led by Korea Electric Power Corp (KEPCO) and building group Samsung C&T has signed a USD2.5 billion deal to build and operate a coal power plant in Kazakhstan, the company said on Wednesday.
