(bne) – New modern warehouses are being built in Kazakhstan, but the country still has a pressing need for more, especially in the far-flung central and western cities where food is still stored in rat-infested Soviet buildings.

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(bne) – Prices have at last bottomed out and started to rise again in Kazakhstan’s real estate market. For 2010, the forecast is a fragile recovery and the gradual completion of many part-finished construction projects.

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(bne) – Top bankers in Kazakhstan expect the residential real estate sector to recover in two to three years time when demand will once again outstrip supply.

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(bne) – Kazakhstan’s economy is slowing faster than the government predicted. As the crisis forces changes in the economy, Visor Capital believes there is a chance for Kazakhstan to achieve more stable and sustainable growth in the future, but careful planning and improvements in education are needed.

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(bne) – Prices have been slashed, developers are making decisions about whether to scrap or salvage unfinished projects, and behind the scenes deals are being done: Kazakhstan’s frozen real estate market has finally started to thaw.

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(bne) – Between downtown Almaty and the mountains, is the area that Capital Partners hopes will become the business hub not just for the city, but for the whole of Central Asia.

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(bne) – While work on numerous real estate developments in Almaty has stalled, Woolim is continuing with its debut Kazakhstan project – Apple Town.

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(bne) – One of Kazakhstan’s two designated gambling zones, Kapchagay will soon see the creation of a $10bn casino city. A major tourist resort will later be built here as part of the $20bn G4 City project.

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(bne) – There isn’t much to be optimistic about right now, so it should be no surprise that there is little evidence Kazakhstan’s dire residential real estate sector is bottoming out. Renaissance Capital is forecasting a gradual recovery over the next two to three years. Strong state support for the sector is expected to continue.

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Recessionary trends still continue in the Kazakh banking sector
(Interfax) – Ekaterina Trofimova, a credit analyst of Standard & Poor’s international rating agency, says that the situation in Kazakhstan is not changing to the better and may even aggravate.

Uzbekistan and Kazakhstan reach water agreement, discuss new gas deal
(Turkish Weekly) – An important agreement covering the release of water on the Syrdarya River has been reached.

Kazakhstan Temir Zholy JSC summed up half year results
(Kazinform) – “Income for the first six months of 2008 was KZT 208.6 bln which is 16% higher than the last year. Cargo turnover for the first half-year has increased 10.2%.”

Fitch affirms BTA Bank’s ratings; highlights downward pressure on individual rating (SRI)

Fitch affirmed Kazkommertsbank’s ratings at ‘BB+’ downward pressure on ‘C/D’ individual rating (SRI)

Housing prices in Kazakhstan down in June (SRI)

Developers plan $1.5 Billion resort casino for Kazakhstan (SRI)

Kazakhstan will supply wheat to Kyrgyzstan despite the export ban (AgriMarket.info)

National Bank of Kazakhstan: Exchange rates July 10, 2008 (Kazinform)

Indicators – July 9, 2008 (Reuters)