Archive for April, 2009
Kazakhstan Daily News Roundup - April 29, 2009
HEADLINES:
Alliance plans to keep servicing short-term liabilities, restructure medium- and long-term debt
(SRI) - Alliance Bank, which had recently asked its creditors for a standstill on debt repayments, plans to restructure its medium- and long-term debt but will keep servicing its short-term liabilities.
Sberbank reportedly resumes talks with BTA
(SRI) - Sberbank, Russia’s largest bank, has resumed negotiations to acquire embattled BTA Bank, Interfax reported citing the bank’s deputy CEO Anton Karamzin.
Kazakh bank BTA says assets may be overstated
(Reuters) - BTA Bank said on Tuesday its new state-appointed management had uncovered a “speculative derivatives transaction” that may have been overstated on its balance sheet.
BTA Bank starts debt talks to avert bankruptcy
(Bloomberg) - BTA Bank, Kazakhstan’s largest lender, began talks with creditors to renegotiate payments on as much as $15 billion of debt in a bid to avert bankruptcy, CEO Anvar Saidenov said.
Kazakh-Chinese joint venture begins operating uranium mine
(SRI) - Semizbai-U LLP, a Kazakh-Chinese joint venture, began operating the Irkol uranium mine in the Shieli district of Kyzylorda region, local media reported.
Kazakhstan rejects OSCE reforms ahead of chairmanship
(Reuters) - Kazakhstan will not fully implement legal reforms recommended by the OSCE, Europe’s top security and rights body, before taking charge of the organization in 2010, a senior official said on Tuesday.
ENERGY:
Analysis: China increases stake in Kazakh energy assets (UPI)
Kazakh-Chinese joint venture begins operating uranium mine (SRI)
BUSINESS AND ECONOMY:
Alliance plans to keep servicing short-term liabilities, restructure medium- and long-term debt (SRI)
Sberbank reportedly resumes talks with BTA (SRI)
Kazakh bank BTA says assets may be overstated (Reuters)
BTA Bank starts debt talks to avert bankruptcy (Bloomberg)
Derivatives for make glorious benefit BTA bank… less so Morgan Stanley (FT Alphaville)
Kazakhstan and other countries ban U.S. pork amid swine flu fears (SRI)
Stressed Assets Fund to start working with banks in H2 of 2009 – Samruk-Kazyna head (Interfax)
National Bank of Kazakhstan: Exchange rates April 29, 2009 (Kazinform)
POLITICS:
Kazakhstan rejects OSCE reforms ahead of chairmanship (Reuters)
SOCIETY:
Kazakhstan not to curtail Aral Sea rescue projects – Nazarbayev (Interfax)
REGIONAL:
Rare Central Asia summit on water breaks up in disarray
(Reuters) - A rare Central Asia summit on how to share scarce water resources broke down in bitter disagreement on Tuesday after the region’s five leaders failed to find any common ground in one of the world’s driest regions.
Kazakhstan Society Roundup - April 29, 2009
Kazakhstan not to curtail Aral Sea rescue projects – Nazarbayev (Interfax)
Kazakhstan Politics Roundup - April 29, 2009
Kazakhstan rejects OSCE reforms ahead of chairmanship (Reuters)
Kazakhstan Business and Economy Roundup - April 29, 2009
Alliance plans to keep servicing short-term liabilities, restructure medium- and long-term debt (SRI)
Sberbank reportedly resumes talks with BTA (SRI)
Kazakh bank BTA says assets may be overstated (Reuters)
BTA Bank starts debt talks to avert bankruptcy (Bloomberg)
Derivatives for make glorious benefit BTA bank… less so Morgan Stanley (FT Alphaville)
Kazakhstan and other countries ban U.S. pork amid swine flu fears (SRI)
Stressed Assets Fund to start working with banks in H2 of 2009 – Samruk-Kazyna head (Interfax)
National Bank of Kazakhstan: Exchange rates April 29, 2009 (Kazinform)
Kazakhstan and other countries ban U.S. pork amid swine flu fears
(Reuters) - Outbreaks of swine flu have prompted several countries to ban the import of pork, raising the prospect the disease will add a further protectionist blow to sagging world trade.
Kazakhstan Energy Roundup - April 29, 2009
Analysis: China increases stake in Kazakh energy assets (UPI)
Kazakh-Chinese joint venture begins operating uranium mine (SRI)
Kazakhstan Regional News Roundup - April 29, 2009
Russia, Bulgaria close to deal on pipeline - Putin (AFP)
US sees progress in keeping Kyrgyz base open (Reuters)
Rare Central Asia summit on water breaks up in disarray (Reuters)
Russia, Bulgaria close to deal on pipeline - Putin
(AFP) - Russian Prime Minister Vladimir Putin and his Bulgarian counterpart Sergey Stanishev said Tuesday they were close to signing a deal on the South Stream gas pipeline to Europe after resolving differences.
US sees progress in keeping Kyrgyz base open
(Reuters) - The United States has made progress in trying to persuade Kyrgyzstan not to close a key U.S. air base that supports military operations in Afghanistan, the Pentagon said Tuesday.
Kazakh bank BTA says assets may be overstated
(Reuters) - BTA Bank said on Tuesday it uncovered a “speculative derivatives transaction” that may have been overstated on its balance sheet and admitted it defaulted on notes worth $550 million held by Morgan Stanley and another bank which sought to accelerate debt repayment.
