2009 July 08 | Silk Road Intelligencer

Alliance Bank finalizes restructuring plan

By SRI ⋅ July 8, 2009 ⋅ Post a comment

(SRI) - Alliance Bank said on Wednesday it had reached an agreement with creditors to restructure its $4-billion debt, offering five options ranging from immediate redemption at a deep discount to conversion to equity.

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Kazakhstan Daily News Roundup - July 8, 2009

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HEADLINES:

S&P downgrades KazMunaiGas below investment grade; Fitch affirms its rating
(SRI) - Standard & Poor’s Rating Services has downgraded the rating of KazMunaiGas to BB+ from BBB-, citing “weakened stand-alone credit profile, which incorporates […] concerns about the quality of the company’s liquidity.”

JBIC and VEB to finance Aktobe metallurgic plant
(SRI) - Japan Bank for International Cooperation (JBIC) and Russian Vneshekonombank (VEB) will finance a new metallurgic plant in Aktobe, according to the plant operator SBS Steel.

Kazkommertsbank’s ability to raise bad-loan provisions narrows
(Bloomberg) - Kazkommertsbank, Kazakhstan’s second- largest bank, has enough cash to increase its bad-loan provisions by 4.4 percentage points, the smallest margin among the country’s lenders except for BTA Bank and Alliance Bank.

BUSINESS AND ECONOMY:

Kazkommertsbank repays Eurobond
(SRI) - Kazkommertsbank repaid a JPY25 billion ($263 million) Eurobond on Monday.

Belarusian refrigerator producer to build plant in Astana (SRI)

Fixed capital investment up 14.2 percent in 2008 (SRI)

Kazakhstan ratifies EBRD and ADB loan for China-Europe road link (SRI)

Former BTA executive arrested in Moscow (SRI)

Nazarbayev ratifies construction of Abu Dhabi Plaza in Astana (SRI)

CIS experts praise Kazakh anti-crisis program (SRI)

Financial police not investigating Alliance’s Yertayev (SRI)

DubaiSat-1 reaches its Kazakh launchpad (Emirates Business 24/7)

National Bank of Kazakhstan: Exchange rates July 8, 2009 (Kazinform)

Indicators - July 7, 2009 (Reuters)

SOCIETY:

Homebuyers protest construction delays in Almaty (SRI)

Central Asia worried as Kazakhs warned against China travel (Reuters)

POLITICS:

American delegation to visit Astana (Kazinform)

Kazakhstan ‘very keen’ on Indian vice president’s visit (New Kerala)

REGIONAL:

Kyrgyzstan approves new U.S. air base agreement (Reuters)

Mixed results for Obama’s first Moscow summit (AP)

Mobs spread ethnic strife in western China (AP)

Obama push for Caspian energy routes imperiled by refugee clash (Bloomberg)

Kazakhstan Regional News Roundup - July 8, 2009

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Kyrgyzstan approves new U.S. air base agreement (Reuters)

Mixed results for Obama’s first Moscow summit (AP)

Mobs spread ethnic strife in western China (AP)

Obama push for Caspian energy routes imperiled by refugee clash (Bloomberg)

Kyrgyzstan approves new U.S. air base agreement

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(Reuters) - Kyrgyzstan has signed an agreement allowing the United States to continue using a key air base serving U.S. aircraft in operations in Afghanistan, according to a presidential spokesman.
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Mixed results for Obama’s first Moscow summit

By SRI ⋅ July 8, 2009 ⋅ Post a comment

(AP) - For two days, President Barack Obama pressed the reset button with Russia. The results: He ended up getting the expected agreement on deep cuts in nuclear arsenals, but he is leaving Moscow with few assurances of Kremlin help in solving other issues key to his foreign policy agenda.
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Mobs spread ethnic strife in western China

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(AP) - Sobbing Muslim women scuffled with riot police, and Chinese men wielding steel pipes and meat cleavers rampaged through the streets as ethnic tensions worsened in China’s oil-rich Xinjiang territory, prompting the president to cut short a summit trip abroad Wednesday.
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Kazakhstan Politics Roundup - July 8, 2009

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American delegation to visit Astana (Kazinform)

Kazakhstan ‘very keen’ on Indian vice president’s visit (New Kerala)

Kazakhstan Society Roundup - July 8, 2009

By SRI ⋅ July 8, 2009 ⋅ Post a comment

Homebuyers protest construction delays in Almaty (SRI)

Central Asia worried as Kazakhs warned against China travel (Reuters)

Homebuyers protest construction delays in Almaty

By SRI ⋅ July 8, 2009 ⋅ Post a comment

(SRI) - A group of home buyers who had bought pre-constructed apartments held a press conference in Almaty protesting the delays in construction of the Zhaily residential complex constructed by the Sert real estate developer.

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