business and economy
Kazakhstan Business and Economy Roundup - September 8, 2008
Middle and Far East investors target Kazakhstan
(bne) - Picture Astana’s right bank in 2012. Alongside the Baiterek tower and the blue-domed presidential palace, there will be a new landmark: the Abu Dhabi Palace. This huge complex was inspired by Kazakhstan’s economic growth, designed by renowned British architect Norman Foster, and funded from the United Arab Emirates.
Kazakh cement manufacturer Steppe Cement lifts profits, fears tough conditions (ShareCast)
Russia to get tax privileges if investing to KZ non-primary sector: Premier (Kazinform)
Kazakh-Russian trade turnover to exceed $20 bln in 2008: PM (Kazinform)
Kazakhstan: Fears of aggravation of crisis
(Global Voices) - Although Kazakhstan, enjoying booming economy fueled by extractive industries, remains the leading state among Central Asian republics, the volatile situation in the country’s economy gives grounds for anxiety among bloggers.
Indicators - September 5, 2008 (Reuters)
Kazakhstan Business and Economy Roundup - September 5, 2008
Metro group prepares market entry into Kazakhstan
(Flex News) - METRO Group plans the market entry of its self-service wholesale subsidiary Metro Cash & Carry into Kazakhstan.
Astana Finance mulls private equity funds
(SRI) - Astana Finance is considering the launch of several private equity funds worth up to $1 billion, Interfax reported on Wednesday citing the Deputy Chief Executive officer Alexander Savchuk.
Eurasian Bank plans to increase market share (SRI)
Azia Avto to broaden partnerships (SRI)
Samruk to borrow $400 million (SRI)
RFCA, Hyundai Securities signed memo of coop (Kazinform)
Kazakhstan gold/forex reserves rise to $21.7 bln (Reuters)
Kazakhstan harvested 10 mln tonnes of grain (AgriMarket.Info)
National Bank of Kazakhstan: Exchange rates September 5, 2008 (Kazinform)
Indicators - September 4, 2008 (Reuters)
Astana Finance mulls private equity funds
(SRI) - Astana Finance is considering the launch of several private equity funds worth up to $1 billion, Interfax reported on Wednesday citing the Deputy Chief Executive officer Alexander Savchuk.
Eurasian Bank plans to increase market share
(SRI) - Eurasian Bank, the 10th largest bank in Kazakhstan, wants to expand its market share in Kazakhstan’s banking from current 2 percent to 7 percent by the end of 2010, Interfax reported citing the bank’s CEO Zhomart Yertaev.
Azia Avto to broaden partnerships
(SRI) - The Kazakh car producer Azia Avtois to seal its agreement with Russia’s AvtoVAZ to sell a blocking share to the latter on September 22 in Aktau at a forum of Kazakh and Russian border regions’ chiefs, Azia Avto president Erzhan Mandiev said in an interview with Interfax.
Samruk to borrow $400 million
(SRI) - Samruk, the Kazakh national holding company which owns a range of companies including Kazmunaigas, KazPost or Air Astana, is raising a syndicated loan of $400 million.
Kazakhstan Business and Economy Roundup - September 4, 2008
Air Astana goes green
(Bangkok Post) - Air Astana, the national carrier of Kazakhstan, has joined the green bandwagon by going for fuel efficient aircraft and embracing best management practices, as advocated by the International Air Transport Association (Iata).
Air Astana expands fleet, network (Aircargo)
Kazakhstan: wheat export prices decrease (AgriMarket.Info)
Food Corporation plans to purchase up to 2 mln tons of milling wheat (Kazinform)
National Bank of Kazakhstan: Exchange rates September 4, 2008 (Kazinform)
Indicators - September 3, 2008 (Reuters)
Kazakhstan Business and Economy Roundup - September 3, 2008
Centras builds up Kazakh private equity business
(bne) - Almaty-based Centras is about to make the first investment from its buyout fund, through which it plans to benefit from this growing phenomenon.
No threat to Kazakh investments
(Georgian Messenger) - Georgia’s withdrawal from the CIS will not damage Kazakh investments in Georgia. By withdrawing from the CIS Georgia is not planning to revise any bilateral agreements with any CIS countries except Russia.
Kazakhstan lifts wheat export ban (SRI)
August inflation 0.8 percent (SRI)
Turkish Is Bank signs deal to grow in Russia, Kazakhstan (Reuters)
New Tax Code will improve investment climate in Kazakhstan, President Nazarbaev (Interfax)
Kazakh businessmen to meet with reps of South Korean companies (Kazinform)
Kazakhstan: 3-grade wheat purchasing prices decreased (AgriMarket.Info)
National Bank of Kazakhstan: Exchange rates September 3, 2008 (Kazinform)
Indicators - August 2, 2008 (Reuters)
August inflation 0.8 percent
(SRI) - Inflation in August was 0.8 percent and 7.5 percent since January, the national statistics agency reported on Tuesday. The year-on-year inflation (August 2007 vs. August 2008) totaled 20.1 percent.
The National Bank forecasts annual inflation at 7.9%-9.9% in 2008, 7.5%-9.5% in 2009.
Kazakhstan lifts wheat export ban
(SRI) - On September 1, Kazakhstan lifted government’s ban on wheat export imposed in April, Interfax reported.
A response to rising prices of bread, the ban was intended to ensure the nation’s food stocks and to insulate the domestic market from price increases on world grain markets.
Prime Minister Karim Massimov said earlier that the ban would be lifted only if he was personally convinced that the domestic market would not suffer and all regions have sufficient grain stocks.
“If the grain supply is guaranteed in the republic, we will not impose any type of bans in the future” he said.
Kazakhstan harvested a record high grain crop of 20.1 million tons in 2007, 22% more than in 2006, including 16.6 million tons of wheat (compared to 13.5 million tons in 2006).
