Archive for July 9th, 2009
Kazakhstan Daily News Roundup - July 9, 2009
HEADLINES:
Alliance Bank finalizes restructuring plan
(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.
Former Alliance banker to contest suspension; Eurasian Bank names new acting CEO
(SRI) - Former CEO of Alliance Bank, Zhomart Yertayev, said he will challenge in court a decision by the financial regulator to suspend him from his current job as head of Eurasian Bank.
Central bank cuts key refinancing rate
(SRI) - The National Bank of Kazakhstan cut its key refinancing interest rate to 8 percent from 8.5 percent effective on Friday, July 10, citing “trends in financial markets” and slowing inflation.
ENERGY:
KMG shelves overseas expansion plans, names new CEO of Rompetrol (SRI)
Crude oil production up in H1 (SRI)
Rosneftegaz acquired Oman’s stake in CPC (SRI)
S&P affirms KMG EP rating (SRI)
(TREND)
S&P affirms Rompetrol’s B rating (Wall Street - Romania)
BUSINESS AND ECONOMY:
BTA to complete restructuring talks by August (SRI)
Alliance Bank finalizes restructuring plan (SRI)
Former Alliance banker to contest suspension; Eurasian Bank names new acting CEO (SRI)
Central bank cuts key refinancing rate (SRI)
Kazakhstan passed the bottom of second phase of crisis - Marchenko (SRI)
Moody concludes ratings review for government-owned entities (SRI)
Kazakhstan Development Bank to request capital from government (SRI)
Air Astana ramps up action in Asia Pacific (eTravel Blackboard)
National Bank of Kazakhstan: Exchange rates July 9, 2009 (Kazinform)
SOCIETY:
Kazakhstan warns against travel to Xinjiang (Financial Times)
REGIONAL:
U.S. says Russia may continue with unilateral WTO bid (Reuters)
China police fan out to halt Xinjiang unrest (Reuters)
Azerbaijan ready to resolve Caspian Sea dispute (EurasiaNet)
Kazakhstan Regional News Roundup - July 9, 2009
U.S. says Russia may continue with unilateral WTO bid (Reuters)
China police fan out to halt Xinjiang unrest (Reuters)
Azerbaijan ready to resolve Caspian Sea dispute (EurasiaNet)
U.S. says Russia may continue with unilateral WTO bid
(Reuters) - The United States said on Wednesday that Russia had sent signals that it might still pursue a unilateral bid to join the WTO, but Moscow denied such plans saying it would join only together with two neighbors.
(more…)
China police fan out to halt Xinjiang unrest
(Reuters) - Banks of paramilitary police fanned out in the far-flung Chinese city of Urumqi on Wednesday to try to stifle unrest days after 156 people were killed in the region’s worst ethnic violence in decades.
(more…)
Kazakhstan Society Roundup - July 9, 2009
Kazakhstan warns against travel to Xinjiang (Financial Times)
Kazakhstan Business and Economy Roundup - July 9, 2009
BTA to complete restructuring talks by August (SRI)
Alliance Bank finalizes restructuring plan (SRI)
Former Alliance banker to contest suspension; Eurasian Bank names new acting CEO (SRI)
Central bank cuts key refinancing rate (SRI)
Kazakhstan passed the bottom of second phase of crisis - Marchenko (SRI)
Moody concludes ratings review for government-owned entities (SRI)
Kazakhstan Development Bank to request capital from government (SRI)
Air Astana ramps up action in Asia Pacific (eTravel Blackboard)
National Bank of Kazakhstan: Exchange rates July 9, 2009 (Kazinform)
BTA to complete restructuring talks by August
(SRI) - BTA Bank’s restructuring talks with its creditors should be completed by August, the central bank chairman Grigoriy Marchenko said today dismissing the recent departure of Goldman Sachs as the banks advisor as having no impact.
Moody concludes ratings review for government-owned entities
(SRI) - Moody’s concluded its ratings review for ten government-owned corporate issuers.
Kazakhstan Development Bank to request capital from government
(SRI) - Kazakhstan Development Bank (KDB) will request additional capitalization from the Kazakh government to fund investment projects in Kazakhstan, Kazakhstan’s Minister of Industry and Trade and the bank’s chairman Aset Isekeshev said.
Kazakhstan passed the bottom of second phase of crisis - Marchenko
(SRI) - Kazakhstan has begun the road to recovery from the second phase of the economic crisis, central bank chairman Grigoriy Marchenko said at a news conference.
