Kazakhstan Daily News Roundup - July 1, 2009

HEADLINES:

Goldman Sachs quits as advisor to BTA Bank
(SRI) - Goldman Sachs resigned as a restructuring advisor to BTA Bank, Bloomberg reported on Wednesday. This will likely lead to further slowdown of the restructuring of the bank’s $15 billion of debt on which it defaulted in April.

Financial watchdog warns banks over excessive deposit rates
(SRI) - The Financial Supervision Agency (FSA), Kazakhstan’s financial regulator, has warned the country’s banks against offering excessively high rates on deposits saying they created new risks.

BUSINESS AND ECONOMY:

Kazakhtelecom to bring local content to 50 percent (Interfax)

Retail prices for food products in Kazakhstan are 2.5 times as much as wholesale import prices – customs control committee (Interfax)

National Bank of Kazakhstan: Exchange rates July 1, 2009 (Kazinform)

Indicators - June 30, 2009 (Reuters)

MINERAL RESOURCES:

Frontier Mining well position for 2009 - CEO (SRI)

POLITICS:

Israeli president makes landmark Kazakhstan visit (AFP)

Kazakhstan not to supply nuclear materials to other countries - president (Xinhua)

SOCIETY:

Kazakhstan to host interfaith conference (Jerusalem Post)

Team Astana gets new backing just in time for Tour de France (EurasiaNet)

Kazakhstan Society Roundup - July 1, 2009

Kazakhstan to host interfaith conference (Jerusalem Post)

Team Astana gets new backing just in time for Tour de France (EurasiaNet)

Kazakhstan Politics Roundup - July 1, 2009

Israeli president makes landmark Kazakhstan visit (AFP)

Kazakhstan not to supply nuclear materials to other countries - president (Xinhua)

Kazakhstan Business and Economy Roundup - July 1, 2009

Goldman Sachs quits as advisor to BTA Bank (SRI)

Financial watchdog warns banks over excessive deposit rates (SRI)

Kazakhtelecom to bring local content to 50 percent (Interfax)

Retail prices for food products in Kazakhstan are 2.5 times as much as wholesale import prices – customs control committee (Interfax)

National Bank of Kazakhstan: Exchange rates July 1, 2009 (Kazinform)

Indicators - June 30, 2009 (Reuters)

Kazakhstan Mineral Resources Roundup - July 1, 2009

Frontier Mining well position for 2009 - CEO(SRI)

Frontier Mining well position for 2009 - CEO

(SRI) - Kazakhstan-focused Frontier Mining Ltd said it is confident that 2009 the company should see significant growth as the gold and silver production at its Naimanjal project has begun and the group has access to a $14-million financing facility.

(more…)

Goldman Sachs quits as advisor to BTA Bank

(SRI) - Goldman Sachs resigned as a restructuring advisor to BTA Bank, Bloomberg reported on Wednesday. This will likely lead to further slowdown of the restructuring of the bank’s $15 billion of debt on which it defaulted in April.

(more…)

Financial watchdog warns banks over excessive deposit rates

(SRI) - The Financial Supervision Agency (FSA), Kazakhstan’s financial regulator, has warned the country’s banks against offering excessively high rates on deposits saying they created new risks.

(more…)

Israeli president makes landmark Kazakhstan visit

(AFP) - President Shimon Peres was in Kazakhstan on Tuesday in the first visit by an Israeli head of state to the majority Muslim country, following a similar trip to overwhelmingly Shiite Azerbaijan.
(more…)