business
Kazakhstan Business and Economy Roundup - July 18, 2008
Fitch: Kazakhstan externals improve, bank risks up
(Dow Jones) - Fitch has said in a special report published today that Kazakhstan’s external finances have strengthened, but bank asset quality is deteriorating in a worsening macroeconomic climate.
HSBC expands in Central Asia’s biggest economy
(The FINANCIAL) - HSBC has opened its first branch in Astana, the capital of Kazakhstan, increasing its presence in Central Asia’s biggest economy.
Prod Corporation to purchase 1 million tons of grain for commercial resources (Kazakhstan Today)
National Bank of Kazakhstan: Exchange rates July 18, 2008 (Kazinform)
Indicators - July 17, 2008 (Reuters)
Canada’s Bombardier may start manufacturing railcars in Kazakhstan
(SRI) - Kazakhstan’s Ministry of Transportation is considering cooperation with Canada’s Bombardier in railway transportation and civil aviation, Interfax reported on Thursday.
ANALYSIS: UniCredit prepares to press on with integration of Kazakh bank ATF
With a long-standing share dispute now nearing resolution, UniCredit is preparing to start rebranding and growing Kazakhstan’s ATF Bank, its Central Asian acquisition.
Kazakhstan’s Astana Motors plans IPO in 2009
(SRI) - Astana Motors, part of the Astana Group holding, is preparing for an initial public offering in 2009, said Astana Group President Nurlan Smagulov in an interview with Interfax.
Kazakhstan Business and Economy Roundup - July 15, 2008
Kazakhstan Kagazy says paper business granted tax holidays until 2013
(Thomson Financial - Hemscott) - Kazakhstan Kagazy Plc. said its paper business, Kagazy Recycling LLP, has been granted tax holidays until 2013 within the framework of the state scheme to promote domestic producers.
Kazakhstan may harvest 17 million tons of grain in 2008 (SRI)
Prices for agricultural products in Kazakhstan rose almost 13 percent in H1 (SRI)
Kazakhstan: grain productivity in the south of the country decreased by 50% (AgriMarket.info)
Kazakhstan’s Tsesnabank selects BPC card processing technology (finextra.com)
UAE and Kazakhstan look to forge strategic partnership (Khaleej Times)
Astana hosts forum on water management in Central Asia (Kazinform)
National Bank of Kazakhstan: Exchange rates July 15, 2008 (Kazinform)
Indicators - July 14, 2008 (Reuters)
ATF Bank raised $100 million
ATF Bank, Kazakhstan’s fifth largest bank and a subsidiary of Italian UniCredit, has raised $100 million in loan funds, the bank announced.
The loan consists of two tranches payable in three and five years. It will be insured by SACE - Servizi Assicurativi del Commercio Estero, an export loan agency of Italy.
Citibank N.A. is the loan’s organizer while Citibank International Plc, London is the agent. “Along with organizer, the loan will be provided by several major financial institutions,” the statement said.
The funds will be used to finance the bank’s corporate targets.
Kazakhstan Business and Economy Roundup - July 14, 2008
Kazakhstan H1 industrial production growth stalls
(Reuters) - Kazakhstan’s industrial production growth stalled in the first half of this year to 3.8 percent compared with 6.8 percent in the same period of 2007.
Kazakhstan gears up to tackle food crisis
(Xinhua) - Kazakhstan, a central Asian country that has also been severely affected by the worldwide food crisis, has put in place a series of significant measures to curb the skyrocketing food prices.
Kaztemirtrans, Kazmortransflot pool efforts to develop transport infrastructure (SRI)
Aktau sea port transshipped over 56.000 tonnes of grain during 6 months (AgriMarket.info)
National Bank of Kazakhstan: Exchange rates July 12-14, 2008 (Kazinform)
Indicators - July 11, 2008 (Reuters)
Kazakhstan to halve corporate tax rate
Kazakhstan may halve the corporate income tax rate to 15 percent while introducing a tax of up to 20 percent that will apply only to the oil and mining sectors, Askar Aubakirov, a member of the working group that is developing the new tax code, said on Friday.
Kazkommertsbank - preparation key to surviving crisis
Kazkommertsbank initially established itself as Kazakhstan’s largest corporate lender, but the 2007 crisis forced it into an increased focus on its retail business.
Kazakhstan Business and Economy Roundup - July 3, 2008
Kazakh BTA to decide on Temir Bank in 2 months
(Reuters) - BTA, one of Kazakhstan’s largest banks, will decide within the next two months whether to sell its largest subsidiary, retail-focused Kazakh Temir Bank.
Living wage increased by 19.6 % and made 12 874 KZT in June (Kazakhstan Today)
National Bank of Kazakhstan: Exchange rates July 3, 2008 (Kazinform)
Indicators - July 3, 2008
(Reuters) - Kazakhstan’s economic indicators based on data provided by the State Statistics Agency, government institutions, the central bank and exchanges.
