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Kazakhstan
In this issue:
2 Laws & Legislations
2-3 Politics and Economics
2 Kazakhstan plans 2010 budget with deficit at 4.1% of GDP
2 FSA insists on reviewing investment banking system
2 National Bank expects inflation at 1.6-%-1.8% in 3rd quarter, at 3-3.2% in 4th quarter
3 Astana may require that foreign companies keep part of their financial resources in Kazakh banks
3 Banking sector needs more active state regulation
3 Antimonopoly Agency to stop any attempts of collusion between coal companies
3 Kazakhstan commissions $36 million petrochemicals plant
3 Upcoming events
4 Banking
4 ADB to give $500 ml loan to help Kazakhstan respond to crisis
4 Islamic Development Bank opens $10 ml credit line for Nurbank
4 Moody’s affirms ratings for Eurasian Bank
4 FSA annuls license of Astana-Finance for brokerage and dealer activities
4 Alliance Bank gets approval for debt restructuring from Almaty financial court
4 Moody's withdraws Temirbank‘s credit ratings
4 HR News
5-6 Corporate News
5 Zhaikmunai completes placing $300 million through GDRs
5 Russia's MTS won't bid in Kazakh mobile firm tender
5 BG Venture said to seek $700 million from Kazakhstan
5 Lukoil discussing upstream acquisitions abroad, including Kazakhstan
5 StatoilHydro may participate in Caspian offshore projects
6 KMG, SOCAR to establish JV for construction of trans-Caspian system
6 DuPont and KazMunayGas views cooperation opportunities in oil refining and petrochemical industry
6 Polyus Gold sets up business unit on core of KazakhGold assets
6 KSP Steel awarded with API certification and API Monogram
6 IPO and M&A news
7 KASE & Last month gainers/losers
8 AFS-Research news
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In this issue:
2 Laws & Legislations
2-3 Politics and Economics
2 Banks’ loan portfolio continues to deteriorate, FSA
2 Foreign banks will not control Kazakhstan financial institutions
2 Government to provide GDP growth in II half of 2009 at level of 1.8 - 2 %
3 Economic turmoil hinders growth of Kazakh insurance market, although long-term prospects are more promising, S&P
3 Kazakhstan’s GDP ups 3% in Q2Kazakhstan ups oil, condensate
production 6% in Jan-July; gas production grows 3.6%
3 Kazakh economy shrinks 2.3% in H1
3 Upcoming events
4 Banking
4 Nurbank earned 570 million tenge in net profit in H1 2009
4 Assets of Kaspi Bank grew by 21% in H1
4 Troika Dialog Kazakhstan raises Kazkommertsbank rating from “hold” to “buy”
4 BTA Bank downgraded by Moody’s, ratings withdrawn
4 HR News
5-6 Corporate News
5 Antimonopoly agency puts coal companies on the list of monopolies
5 Azia Avto doubles net loss in H1
5 Kazakhtelecom's net profit falls 43% in H1
5 SamrukKazyna values its investment portfolio at $26 billion
5 NCOC fails to meet social commitments
6 Tethys Petroleum Limited: Second Quarter 2009 Financial Results
6 ENRC net profit dropped almost 60% in H1
6 Kazakhmys revenue tumbles 42% in January-June
6 Frontier mining ensures GBP5m (US$8.2m) equity financing
6 IPO and M&A news
7 KASE & Last month gainers/losers
8 AFS-Research news
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In this issue:
2 Laws & Legislations
2-3 Politics and Economics
2 Results of social and economic development of Kazakhstan for first half of 2009
2 President of Russia signed Law on Ratification of Contract on
Establishment of EurAsEC Anti-Crisis Fund
2 Russia extents antidumping probe into Kazakh rolled metal product exports
2 Kazakhstan’s money supply up 8.3% in H1
3 Kazakhstan’s GDP ups 3% in Q2
3 Export of Kazakhstan oil in I half of 2009 increased by 5.4 %
3 Volume of retail trade decreased by 8.6 %
3 Tourist industry in Kazakhstan needs state support
3 Upcoming events
Banking
4 Eurasian Bank assets 30% up in H1
4 Kookmin Bank may increase its stake in Bank CenterCredit up to 40.1%
4 Kazakh bank BTA sees 66-97 pct debt haircuts
4 FSA approves plan for restructuring and recapitalization of Alliance Bank
4 Loss of banks of second level totaled 2190.8 billion KZT
4 HR News
5-6 Corporate News
5 Kazakhstan operator commissions 3,500th base station
5 Kazakhstan resolves issues with ONGC Videsh
5 Zijin terminates talks to buy Kazakhstan gold firm
5 Build Investment Group JSC defaults on US$20m bond payment
5 MTS applies to participate in tender for Kazakhstan’s Mobile
Telecom-Service
6 Kazakh oil firm Zhaikmunai in debt waiver talks
6 KMG EP reduces oil production 3.8% in 1H09
6 KazMunaiGaz Rejects RBS, Sky Bridge in Investment Bank Tender
6 Kazakhmys rated ‘underweight’ at Alfa as prices rally is ‘over’
6 Fitch assigns KMG Finance Sub B.V.’s notes final ‘BBB-’ rating
6 IPO and M&A news
7 KASE & Last month gainers/losers
8 AFS-Research news
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In this issue:
3 Laws & Legislations
3-4 Politics and Economics
3 Kazakhstan’s economy may fall 2% in 2009
3 Manufacture of gold in Kazakhstan increased by 20.5 %
3 410 million KZT allocated for CARICC development
3 Kazakhstan established simplified visa mode with nine EU states
3 Turnover of goods in Kazakhstan in January - April, 2009 reduced by 9.6 %
4 S&P affirms Kazakhstan ratings, outlook changed to stable from negative
4 Volume of construction works in January - April, 2009 reduced by 8.6 %
4 Export of oil and gas condensate increased by 63.3 % in January - March, 2009
4 Coal mining volume decreased by 18 % in January - April, 2009
5 Banking
5 S&P downgrades Kazkommertsbank and Halyk Bank
5 Kazkommertsbank, Halyk, CenterCredit debt ratings cut at Fitch
5 Kazakhstan cuts key interest rate to 9%
5 Eurasian Bank net profit down 58% in 2008
5 ATF Bank sings a credit agreement with EBRD on attracting US $100 million loan
5 HR News
6-7 Corporate News
6 Frontier Mining agrees US$14m financing package
6 ShalkiyaZinc announces delay in publication of accounts and requests suspension of trading
6 Rio, Kazakhmys raised by Barclays on Chinese outlook
6 Max Petroleum’s Kazakhstan exploration license extended 2 years
6 S&P downgrades Kazakhtelecom’s outlook to Negative
6 Fitch downgrades Kazakhgold from “CCC” to “C”
7 Uranium One posts record 1Q2009 output, shows strong cash position of US$204m
7 ENRC reduced manufacture of ferroalloys by 30 %
7 Tethys announced increased loss in 1Q2009
7 Roxi receives extra US$500k Canamens cash infusion
7 Central Asia Resources doubles gold resource at Altyntas prospect
7 IPO and M&A news
8 KASE & Last month gainers/losers
9 AFS-Research news
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In this issue:
3 Laws & Legislations
3-4 Politics and Economics
3 Kazakhstan ready to search for ways to overcome crisis together with other states
3 March inflation in Kazakhstan is 0.8 %
3 642 factories shut down, unemployment rate up to 7% in Kazakhstan
3 Kazakh parliament approves 2009 budget amendments
4 Kazakhstan awaits billions in investments promised by China and the UAE
4 Retail commodity turnover in I quarter 2009 decreased by 3.4 %
4 Small and medium-sized businesses need 450 billion tenge worth of loans
4 Kazakhstan faces high risk of sovereign rating downgrade
5 Banking
5 Kazakhstan’s BTA Bank says it halts principal debt payments
5 S&P downgrades BTA Bank ratings and confirmed its subsidiaries ratings
5 BCC profits slide 64% while deposits surge 36% in 2008
5 Kaspi Bank to double retail lending in 2009
5 NBRK to resell 11.97% stake in Delta Bank under reverse REPO
5 Alliance Bank to keep paying short-term commitments
5 HR News
6-7 Corporate News
6 Kazakhmys profit falls 36% on slump in copper prices
6 Orsu Metals says Varvarinskoye fails debt obligations due 31 March 2009
6 KPO concludes long-term contracts with Kazakh companies to 40 billion tenge
6 KazTransOil increased oil transportation by 4.3 %
6 Assets of Aktau Sea Trade Port in 2008 increased by 36.3 %
7 KazEnergoCable brings investments down by 71% in 2009
7 Steppe to raise 10 mln pounds in offer ; profit halves
7 KazMunaiGas to sign contracts for $400 million
7 Alhambra Resources gets positive court arbitration ruling in Kazakhstan
7 Indian joint venture to invest $400 mln in Satpayev block
7 ZhaikMunai could be target for TNK-BP
7 IPO and M&A news
8 KASE & Last month gainers/losers
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In this issue:
3 Laws & Legislations
3-4 Politics and Economics
3 Kazakh government adopts a readjusted budget for 2009
3 Inflation rate to reach 10% in Kazakhstan in 2009
3 Astana wants a controlling stake in Baku-Ceyhan related project
4 'Euraz' currency could be introduced within 8 - 10 years
4 Kazakhstan decreased light vehicle imports by 53.8% in January
4 Foreign trade turnover of Kazakhstan decreased by 40 %
4 Kazakhstan reduces oil refining 20.5% in Jan-Feb
4 BTA Bank’s former CEO Solodchenko sought by Kazakh prosecutors
5 Banking
5 RBS Kazakhstan may be put up for sale
5 Fitch Downgrades BTA and Temir to CC
5 Eurasian Bank increases capital by KZT3.1bn (US$21m)
5 S&P downgrades BTA Bank and Temirbank; places Alliance Bank on negative outlook
5 HR News
6-7 Corporate News
6 ZhaikMunai makes steady progress
6 Chevron to build two plants in Atyrau
6 Kazakhmys reports 30% drop in profit, scraps dividend
6 Uranium One expects production to rise in 2009
7 KazMunaiGas EP says profit fell 58% on oil-price drop
7 Fitch Rates Mangistau Electricity Distribution Network Company
7 KazMunaiGaz to spend $952 million to buy local goods, services
7 IPO and M&A news
8 KASE & Last month gainers/losers
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In this issue:
3 Laws & Legislations
3-4 Politics and Economics
3 There will be no second wave of devaluation in Kazakhstan
3 KZT cash-in-circulation declines 16.8% MoM to KZT714bn in January
3 Food prices soar as KZT tumbles
3 US$2.5bn deposits move from national to foreign currency in January
4 Fitch shifts Kazakh outlook to negative, cuts banks
4 Experts predict further falling house prices in Almaty in 2009
5 Banking
5 Kazakh backbone banks to receive 476 billion tenge from the state funds, allocated for stabilizing the banking sector
5 Fitch downgrades foreign subsidiaries of BTA Bank and Kazkommertsbank
5 Tsesnabank repays $33.48mn of domestic bonds
5 Halyk Bank to place 326.7m additional shares at KZT102.02 per share
5 Sberbank in acquisition talks with BTA Bank
5 HR News
6-7 Corporate News
6 Caspian Holdings’s loss of Zhengeldy appeal forces financial problems
6 Asia-Auto looses US$5m in 2008
6 BMB Munai reports predictably weak 3Q09 results (2008/2009)
6 Centerra Gold’s earnings and gold production increase in 4Q2008
6 Tethys Petroleum successfully tests Akkulka gas pipeline
7 KMG EP updates on devaluation and financial holdings
7 Kazakhmys plans to invest in exploration and new deposits
7 Max Petroleum increases credit facility
7 Steppe Cement posts preliminary results for FY2008
7 IPO and M&A news
8 KASE & Last month gainers/ losers
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In this issue:
3 Laws & Legislations
3-4 Politics and Economics
3 President to establish common world currency
3 Kazakhstan to sell $992 million bonds to boost construction
3 Almaty budget income equals to 173.7 billion tenge for 2009
3 Kazakhstan joins troika of OSCE chairmen
4 National Fund to allocate KZT 30 bln for support of small and medium business of Astana
4 25 enterprises closed in Kazakhstan over crisis
4 Kazakh President set National Bank leadership tasks to overcome crisis
5 Banking
5 Samruk-Kazyna Fund to deposit US$800m with Kazkommertsbank and Halyk Bank
5 Kazakh banks buy up dollars in wait for tenge devaluation
5 Bank CenterCredit raises US$45m loan from IFC
5 HR News
6-7 Corporate News
6 ZhaikMunai’s Chinarevskoye-Rostoshee pipeline is completed
6 Petrolinvest investing $23 mln to develop field in Kazakhstan
6 Steppe Cement shuts down part of its wet lines
6 Dragon Oil Accumulates $867 Million for Investments
6 ENRC unit to produce 26% less iron ore in 2009
6 Roxi Petroleum gets funding for BNG Contract Area
7 Kazakhmys chairman and chief pledge shares for loans
7 NC KazMunayGas investment program for 2009 amounts to KZT 696 bln
7 IFC provides US$50 million loan to Jambyl Cement Company
7 IPO and M&A news
8 KASE & Last month gainers/losers
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In this issue:
3 Laws & Legislations
3-4 Politics and Economics
3 EBRD invested USD 5 bln in KZ economy
3 Economic growth to be 5% upon the results of 2008
3 National Budget may lose over KZT 150 bln if oil prices stand at $25 per barrel
3 Kazakhstan's foreign trade balance at 27.5%/GDP in 10M08
4 Commodities turnover between Kazakhstan and Russia increased by 24% in 2008: N.Nazarbayev
4 Kazakhstan and United Arab Emirates to sign convention on double taxation avoidance
4 India to invest in uranium mines in Russia, Kazakhstan
5 Banking
5 Kazakh Bank Halyk’s profit falls 47% on provisions
5 BTA completes repayments of foreign obligations for 2008
5 Tsesnabank to increase offered capital by 15%
5 BCC declines State injection offer; expects higher provisions in 4Q2008
5 China Development Bank, Kazakhstan Development Bank extend credit line
5 HR News
6-7 Corporate News
6 Zhaikmunai updates on operations
6 Max Petroleum fails to farm out its acreages
6 Tethys signs preliminary agreement to supply gas to Inter RAO UES
6 BG Group to continue investment in Kazakhstan
6 Gas and oil extraction volumes decrease in Uzen deposit
7 KMG, BG Group, Razvedka Dobycha “KazMunaiGaz” sign agr’t on coop in exploration sphere
7 NC KazMunaiGas to operate Urikhtau gas-condensate field
7 Samruk-Energo wraps up acquisition of 50% in Bogatyr and Severny
7 IPO and M&A news
8 KASE & Last month gainers/losers
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