Archive for June 26th, 2009
ANALYSIS: Smaller Kazakh banks under threat from new capital requirements
(bne) - On July 1, new minimum capital requirements for Kazakh banks will enter force. Banks based in Almaty - where the vast majority are located - will be required to have equity capital of at least KZT5 billion ($33.2m), while those headquartered outside the financial capital will need KZT3 billion.
Kazakhstan Daily News Roundup - June 26, 2009
HEADLINES:
Smaller Kazakh banks under threat from new capital requirements
(bne) - On July 1, new minimum capital requirements for Kazakh banks will enter force. Banks based in Almaty - where the vast majority are located - will be required to have equity capital of at least KZT5 billion ($33.2m), while those headquartered outside the financial capital will need KZT3 billion.
Kazakhstan unlikely to participate in Nabucco gas project - official
(SRI) - Kazakhstan will be unable to participate in the Nabucco gas pipeline project because the country does not possess sufficient gas supplies, a government official said on Thursday.
KKB net earnings fall 70 percent in Q1
(SRI) - Kazkommertsbank, Kazakhstan’s second largest bank, reported a 70-percent fall in first-quarter net profit to KZT 5 billion ($33 million).
ENERGY:
Kazakhstan says Rio, Vale, Cameco interested in mines
(Bloomberg) - Rio Tinto Group, Vale SA and Cameco Corp. are among companies that expressed interest in setting up joint ventures in Kazakhstan, according to an official at the mining unit of the country’s sovereign wealth fund.
BUSINESS AND ECONOMY:
Kazakhstan to build four pharmaceutical plants in Astana (SRI)
Halyk closes Mongolian subsidiaries (SRI)
National Bank of Kazakhstan: Exchange rates June 26, 2009 (Kazinform)
POLITICS:
SCO to hold massive anti-terror drill in Kazakhstan (Turkish Weekly)
SOCIETY:
Kazakh residents expect economic situation get better in 2010 - poll (Interfax)
Road police and customs are believed to be most corrupted governmental bodies – poll (Interfax)
Brain drain in Kazakhstan - deterrent to social and economic development of the country (Kazakhstan Today)
Astana name Contador as official team leader (AFP)
REGIONAL:
Kyrgyzstan: US base will aid anti-terror fight (AP)
US-Kyrgyz deal allows shipment of military cargo: US official (AFP)
Kazakhstan Politics Roundup - June 26, 2009
SCO to hold massive anti-terror drill in Kazakhstan (Turkish Weekly)
Kazakhstan Energy Roundup - June 26, 2009
Kazakhstan says Rio, Vale, Cameco interested in mines (Bloomberg)
Kazakhstan unlikely to participate in Nabucco gas project - official (SRI)
Kazakhstan Society Roundup - June 26, 2009
Kazakh residents expect economic situation get better in 2010 - poll (Interfax)
Road police and customs are believed to be most corrupted governmental bodies – poll (Interfax)
Brain drain in Kazakhstan - deterrent to social and economic development of the country (Kazakhstan Today)
Astana name Contador as official team leader
(AFP) - Astana have named former yellow jersey champion Alberto Contador as their leader for the Tour de France, which begins in Monaco and will run from July 4-26.
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Kazakhstan Business and Economy Roundup - June 26, 2009
Smaller Kazakh banks under threat from new capital requirements (bne)
KKB net earnings fall 70 percent in Q1 (SRI)
Kazakhstan to build four pharmaceutical plants in Astana (SRI)
Halyk closes Mongolian subsidiaries (SRI)
National Bank of Kazakhstan: Exchange rates June 26, 2009 (Interfax)
Kazakhstan to build four pharmaceutical plants in Astana
(SRI) - Chimpharm, Kazakhstan’s main domestic pharmaceuticals producer accounting for over half of total local output, reportedly plans to invest $90-$100 million to build of a new pharmaceutical plant in Astana.
Halyk closes Mongolian subsidiaries
(SRI) - Halyk Bank decided to close its subsidiaries in Mongolia - Halyk Dornod and Halyk NBFO.
