Archive for August 6th, 2009
Kazakhstan Daily News Roundup - August 6, 2009
HEADLINES:
Chinese-Kazakh MangistauMunaiGas deal delayed; KMG acquires Pavlodar refinery
(SRI) - The joint acquisition of the upstream assets of MangistauMunaiGas, a Kazakhstan-focused oil company, by Chinese and Kazakh state oil firms has been delayed due to unidentified unresolved issues.
Kazakh banking system sound; state to keep supporting largest banks - Nazarbayev
(SRI) - President Nursultan Nazarbayev expressed his confidence in the Kazakh banking system and said he would not allow foreign banks to take control of the domestic banking sector.
Foreign reserves increase 0.6 percent in July
(SRI) - Kazakhstan’s foreign reserves (including the National Fund) grew by 0.6 percent to $42.4 billion in July, the National Bank said.
ENERGY:
CPC pipeline exports up 12 percent through July (SRI)
Kazakh government to ease tax burden on oil sector in 2010-2011 (Interfax)
BUSINESS AND ECONOMY:
BaselCement to invest $10 million in Kazakh subsidiary (SRI)
Producer Price Index up 3.3 percent in July (SRI)
Fitch upgrades Temirbank (SRI)
Distressed Asset Fund to work with state-controlled banks (SRI)
Kazkommertsbank sells KZT965 million of bonds, 32 percent of plan (Bloomberg)
Kazakhstan to increase grain exports to 9.2 million tons (AgriMarket.Info)
Indicators - August 5, 2009 (Reuters)
Kazakhstan Business and Economy Roundup - August 6, 2009
Kazakh banking system sound; state to keep supporting largest banks - Nazarbayev (SRI)
Foreign reserves increase 0.6 percent in July (SRI)
BaselCement to invest $10 million in Kazakh subsidiary (SRI)
Producer Price Index up 3.3 percent in July (SRI)
Fitch upgrades Temirbank (SRI)
Distressed Asset Fund to work with state-controlled banks (SRI)
Kazkommertsbank sells KZT965 million of bonds, 32 percent of plan (Bloomberg)
Kazakhstan to increase grain exports to 9.2 million tons (AgriMarket.Info)
Indicators - August 5, 2009 (Reuters)
BaselCement to invest $10 million in Kazakh subsidiary
(SRI) - BaselCement, a Russian cement producer, plans to invest $10 million in its Kazakh subsidiary, Sastobe-Cement, which operates a cement plant in the Southern Kazakhstan region.
Producer Price Index up 3.3 percent in July
(SRI) - Kazakhstan’s Producer Price Index (PPI) increased by 3.3 percent compared to the previous month but declined 33.6 percent year-to-date, the state statistics agency reported on Tuesday.
Kazakhstan Energy Roundup - August 6, 2009
Chinese-Kazakh MangistauMunaiGas deal delayed; KMG acquires Pavlodar refinery (SRI)
CPC pipeline exports up 12 percent through July (SRI)
Kazakh government to ease tax burden on oil sector in 2010-2011 (Interfax)
Chinese-Kazakh MangistauMunaiGas deal delayed; KMG acquires Pavlodar refinery
(SRI) - The joint acquisition of the upstream assets of MangistauMunaiGas, a Kazakhstan-focused oil company, by Chinese and Kazakh state oil firms has been delayed due to unidentified unresolved issues.
Kazakh banking system sound; state to keep supporting largest banks - Nazarbayev
(SRI) - President Nursultan Nazarbayev expressed his confidence in the Kazakh banking system and said he would not allow foreign banks to take control of the domestic banking sector.
Foreign reserves increase 0.6 percent in July
(SRI) - Kazakhstan’s foreign reserves (including the National Fund) grew by 0.6 percent to $42.4 billion in July, the National Bank said.
Fitch upgrades Temirbank
(Fitch Ratings) Fitch Ratings has upgraded BTA subsidiary Temirbank’s Long-term Issuer Default Rating (IDR) to CC from C. The Long-term and Short-term IDRs remain on Rating Watch Negative (RWN).
CPC pipeline exports up 12 percent through July
(SRI) - In January through July 2009, the Caspian Pipeline Consortium (CPC) increased crude oil exports by 12.2 percent compared to the same period last year, Kazakhstan Today reported.
