Issue 2868 - 20.11.2017
20.11.2017

Kazakh innovation park supports digital industrial transformation, cooperates with multinational companies

The Special Economic Zone “Park of Innovative Technologies” (SEZ PIT) was the Asia-Pacific category winner in fDi’s Global Free Zones of the Year 2017. Experts noted the investors enjoy preferential tax rates, including zero-percent property, corporate income, social and land taxes. The international programmes for domestic and foreign start-ups based on venture financing were also specifically recognised.

The Astana Times interviewed Autonomous Cluster Fund CEO Sanzhar Kettebekov to learn about the start-up acceleration, innovative solutions for subsoil users and Industry 4.0 laboratory.

“The entry to the most prestigious free zone ranking proves that measures implemented by the government and the fund in this area are effective and trustworthy,” said Kettebekov.

The Autonomous Cluster Fund, a managing company of SEZ PIT and Tech Garden Innovative Cluster, was established in 2015.

“A new development strategy for local companies has been recently developed and it takes into account new requirements to target external markets. Currently PIT has 134 companies and 1/3 are new comers who joined free zone under our guidance and leadership,” he added.

The total revenue of the companies has doubled since 2015 to 132.6 billion tenge (US$398 million).

At present, the technopark has 66 members working remotely according to the extraterritoriality principle, 46 of which are located in different areas of Almaty.

“With the help of government we opened IT quarter in Almaty. The main goal of IT quarter is to unite IT companies and innovative startups in order to have a synergistic effect of joint work. By the end of this year 10 companies will join IT quarter, and next year up to 40 companies will join us as well,” he said.

The Startup Kazakhstan international acceleration programme has also been launched, aimed at developing domestic and attracting foreign start-ups to the country.

Start-ups at the Tech Garden office will participate in the acceleration programme in Almaty and the Silicon Valley. The investment in start-ups will be up to US$100,000.

“Overall, we plan to finance around 500 innovative startups by 2020 year. The key object is to incubate at least 50 high-tech and export-oriented companies. While this model of attracting startups to the market is a new experience for us it is widely used in developed countries. Foreign startups are officially entering Kazakhstan and hiring local work force that will lead to further development of entrepreneurial culture and exchange of knowledge and experience. Our main focus is still on support and developing Kazakhstan startups. Foreign startups are helping to achieve this,” noted Kettebekov.

He stressed the importance of establishing effective cooperation with global innovation centres. Tech Garden offices have already opened in Silicon Valley and Russia’s technoparks in Skolkovo and Novosibirsk.

“This autumn, 10 companies took the acceleration training programme at our Silicon Valley-based office. They were sector-lead companies, such as Yvision, Orion M2M, Smart Pay etc. The training programme included series of lectures, professional panels, business workshops and one-on-one meetings with mentors, experts, business development specialists and potential partners. According to the participants’ opinion, the training helped them to take a completely new look at the projects and make appropriate adjustments to the business model for entering new markets,” he added.

The Almaty Tech Garden also offers innovative solutions for subsoil users.

“We see high demand for innovative solutions but domestic developers have low qualities compare to the foreign ones. Therefore, our objective is to grow the critical mass of high-tech companies with an appropriate level of competences. At the same time, we should foster a cooperative culture between major enterprises and domestic developers. We have an effective tool that allows the subsoil users to transfer 1 percent of their income to test innovative solutions and this gives an opportunity for tech companies to supply services to subsoil users,” he said.

The fund cooperates with ERG, Kazzinc, Kazakhmys, Voskhod-Oriel and other companies.

“As many as 54 projects like production optimization, energy efficiency, geological exploration etc. worth 2.3 billion tenge have been already funded under this model. We plan to introduce a special information system to automate the process of mining planning and 3D modeling at AK Altynalmas JSC. As a result, we expect a 5 percent decrease in production costs, a 10-15% increase in productivity, 100% downtime removal,” he said.

 “The main function of Special Economic Zone “Park of Innovative Technologies” is serving as the ground for digitalization of the industry. There are sample projects for digitalization, model factories, lab complexes. We have high demand for this kind of solutions not only in domestic market but in foreign market as well. Thus, we form an ecosystem where local developers can raise their competencies and become part of a global supply chain,” said Kettebekov.

The Tech Garden is working to create competence centres in partnership with multinational corporations including IBM, Autodesk and IntelliSense.io.

“Multinationals provide expertise and half of the investments. That proves that market is interested in our activities,” he said.

A laboratory for Industry 4.0 is being created in partnership with IntelliSense.io, a British technology company. The main task of the centre is to introduce the best practices in processing, enrichment, metallurgy and training. As a result, 75 percent of the working processes in the mining and metallurgical company are expected to be digitised.

“We have been working in the partnership with Metalysis, a British innovative metallurgical company. Together we are creating R&D Centre to examine the potential to make 3D powder out of domestic raw material and to implement demo projects of making metal powder. Development of this direction can make Kazakhstan a main exporter within 4-5 years since there are still no leading countries in this area,” he said.

By Zhanna Shayakhmetova for the Astana Times.

Kazakhstan General

20.11.2017

Kazakhstan ranks among states with rapidly changing risks level

Employees of the medical service company International SOS made an interactive map of the world, which marked the most dangerous and safe countries for travelers, Kazpravda.kz reports.

On the map, posted on the company's website, the states are marked in different colors depending on the level of risk to tourists.

According to...

Employees of the medical service company International SOS made an interactive map of the world, which marked the most dangerous and safe countries for travelers, Kazpravda.kz reports.

On the map, posted on the company's website, the states are marked in different colors depending on the level of risk to tourists.

According to...

Oil and Gas Sector

20.11.2017

Shell eyes oil and gas projects in Kazakhstan

President of Kazakhstan Nursultan Nazarbayev has held a meeting with the Chief Executive Officer of Royal Dutch Shell, Ben van Beurden today, Kazinform reports with reference to Akorda press service.

At the meeting, the sides discussed the current issues and prospects for the cooperation in Kazakhstan's oil and gas sector including...

President of Kazakhstan Nursultan Nazarbayev has held a meeting with the Chief Executive Officer of Royal Dutch Shell, Ben van Beurden today, Kazinform reports with reference to Akorda press service.

At the meeting, the sides discussed the current issues and prospects for the cooperation in Kazakhstan's oil and gas sector including...

20.11.2017

Tethys Petroleum announces its results for the quarter ended September 30, 2017

(all figures reported in USD unless stated otherwise. 2016 amounts are for the quarter ended September 30, 2016)

Oil and gas sales and other revenues decreased by 17% to USD2.6 million from USD3.1 million, however, net revenues increased by 43% to USD3.5 million from USD2.5 million because there were no sales...

(all figures reported in USD unless stated otherwise. 2016 amounts are for the quarter ended September 30, 2016)

Oil and gas sales and other revenues decreased by 17% to USD2.6 million from USD3.1 million, however, net revenues increased by 43% to USD3.5 million from USD2.5 million because there were no sales...

20.11.2017

Olisol's Response to Tethys Petroleum

OLISOL Petroleum (hereinafter – Olisol) announced that it acknowledges Tethys Petroleum (hereinafter – TPL) press release with its Q3 financial results dated November 14, 2017.

Taking into account Olisol’s experience in oil and gas market of Russia, Kazakhstan and Central Asia in general, and taking into account the market trends in...

OLISOL Petroleum (hereinafter – Olisol) announced that it acknowledges Tethys Petroleum (hereinafter – TPL) press release with its Q3 financial results dated November 14, 2017.

Taking into account Olisol’s experience in oil and gas market of Russia, Kazakhstan and Central Asia in general, and taking into account the market trends in...

20.11.2017

Gazprom boosts supplies to Europe at record pace

Gazprom, responsible for sales of most of Kazakhstan’s output on top of Russia’s and operator of Kyrgyzstan’s up-, mid- and downstream gas business, continues to maintain very high rates of gas exports to Europe, despite the fact that the effect of the previous cold winter and low stocks in storage...

Gazprom, responsible for sales of most of Kazakhstan’s output on top of Russia’s and operator of Kyrgyzstan’s up-, mid- and downstream gas business, continues to maintain very high rates of gas exports to Europe, despite the fact that the effect of the previous cold winter and low stocks in storage...

20.11.2017

Oil rises over 2 pct, but shows first weekly fall in six

Oil rebounded more than 2 percent on Friday after falling for five straight session as a major U.S. crude pipeline was shut and traders anticipated an OPEC deal to extend curbs on production.

Prices, however, fell for the first week in six, pressured by rising U.S. output data and doubts that...

Oil rebounded more than 2 percent on Friday after falling for five straight session as a major U.S. crude pipeline was shut and traders anticipated an OPEC deal to extend curbs on production.

Prices, however, fell for the first week in six, pressured by rising U.S. output data and doubts that...

Finance and Investment

20.11.2017

Swiss bank includes Kyrgyzstan and Kazakhstan to world's poorest countries

The Swiss bank Credit Suisse in the annual report Global Wealth Report 2017 has included Kyrgyzstan and Kazakhstan to the poorest countries in the world. This was reported by the publication EurAsia Daily.

The bank indicated five countries of the former USSR as the poorest in the world. The indicator of welfare of the population there doesn’t...

The Swiss bank Credit Suisse in the annual report Global Wealth Report 2017 has included Kyrgyzstan and Kazakhstan to the poorest countries in the world. This was reported by the publication EurAsia Daily.

The bank indicated five countries of the former USSR as the poorest in the world. The indicator of welfare of the population there doesn’t exceed $ 5,000 per...

20.11.2017

EAEU central banks discuss approaches to building common financial market

Heads of the central banks of the member states of the Eurasian Economic Union (EAEU) discussed the conceptual approaches to the development of the common financial market, BelTA learned from the information and public relations office of the National Bank of Belarus. 

Minsk played host to the 15th meeting of the...

Heads of the central banks of the member states of the Eurasian Economic Union (EAEU) discussed the conceptual approaches to the development of the common financial market, BelTA learned from the information and public relations office of the National Bank of Belarus. 

Minsk played host to the 15th meeting of the...

20.11.2017

National Fund being drained of its cash reserves

Although world prices for "black gold" are kept at an overall supportive level above $ 60 per barrel, it can hardly escape anyone’s attention that the oil-related cash generator of Kazakhstan is getting emptier and emptier both in tenge and in dollar terms of late.

According to data which the Ministry...

Although world prices for "black gold" are kept at an overall supportive level above $ 60 per barrel, it can hardly escape anyone’s attention that the oil-related cash generator of Kazakhstan is getting emptier and emptier both in tenge and in dollar terms of late.

According to data which the Ministry...

20.11.2017

Astana International Financial Centre was presented to the representatives of German political and business circles

Within the framework of the 20th Anniversary Euro Finance Week, the investment opportunities of the Republic of Kazakhstan and the Astana International Financial Centre (AIFC) were presented to representatives of German political and business circles, including the largest European banks, management companies, and key players of the global financial industry.

At...

Within the framework of the 20th Anniversary Euro Finance Week, the investment opportunities of the Republic of Kazakhstan and the Astana International Financial Centre (AIFC) were presented to representatives of German political and business circles, including the largest European banks, management companies, and key players of the global financial industry.

At...

Metals and Minerals

20.11.2017

PM visits one-of-the-kind mineral fertilizers plant in Zhambyl region

As part of his working trip to Zhambyl region, Prime Minister of Kazakhstan Bakytzhan Sagintayev made a stop at one of the backbone industrial facilities of the region - the only mineral fertilizers plant Kazphosphate LLP. According to primeminister.kz, the project is implemented within the framework of the State Program...

As part of his working trip to Zhambyl region, Prime Minister of Kazakhstan Bakytzhan Sagintayev made a stop at one of the backbone industrial facilities of the region - the only mineral fertilizers plant Kazphosphate LLP. According to primeminister.kz, the project is implemented within the framework of the State Program...

20.11.2017

Kazakhstan's Jan-Oct copper, steel, zinc output rises

Kazakhstan's January-October refined copper output rose 2.8 percent and crude steel output jumped 8.5 percent, while refined zinc production climbed 1.0 percent, Statistics Committee data showed on Friday.

London-listed copper miner KAZ Minerals and Glencore's Kazzinc account for a large part of Kazakhstan's metals production.

ArcelorMittal owns the country's only major steel...

Kazakhstan's January-October refined copper output rose 2.8 percent and crude steel output jumped 8.5 percent, while refined zinc production climbed 1.0 percent, Statistics Committee data showed on Friday.

London-listed copper miner KAZ Minerals and Glencore's Kazzinc account for a large part of Kazakhstan's metals production.

ArcelorMittal owns the country's only major steel...

20.11.2017

Imported flat steel buying thin over lower local prices

Buying activity in the Iranian flat steel import market was modest in the week to Nov. 15, as prices for foreign material were significantly higher than the domestic market, sources told Metal Bulletin.

One reason for high import flat steel prices in Iran is increased cost of freight in the Caspian...

Buying activity in the Iranian flat steel import market was modest in the week to Nov. 15, as prices for foreign material were significantly higher than the domestic market, sources told Metal Bulletin.

One reason for high import flat steel prices in Iran is increased cost of freight in the Caspian...

20.11.2017

Nickel gains capped by caution over high inventories

Nickel and copper led the base metals complex higher on Friday, supported by a softer dollar, though both metals remained on track for weekly declines.

Benchmark copper on the London Metal Exchange was up 0.6 percent at $6,778 a tonne by 1130 GMT and nickel had added 1.5 percent to $11,525.

Nickel,...

Nickel and copper led the base metals complex higher on Friday, supported by a softer dollar, though both metals remained on track for weekly declines.

Benchmark copper on the London Metal Exchange was up 0.6 percent at $6,778 a tonne by 1130 GMT and nickel had added 1.5 percent to $11,525.

Nickel,...

20.11.2017

Gold at one-month top on weak dollar, uncertainty over Trump tax bill

Gold jumped to a one-month high on Friday as the dollar softened on uncertainty

about the progress of a proposed overhaul of the U.S. tax code that would be the biggest since the 1980s.

"With the ultimate fate of tax reform in Congress in serious doubt and the Alabama Senate race threatening...

Gold jumped to a one-month high on Friday as the dollar softened on uncertainty

about the progress of a proposed overhaul of the U.S. tax code that would be the biggest since the 1980s.

"With the ultimate fate of tax reform in Congress in serious doubt and the Alabama Senate race threatening...

20.11.2017

Hedge fund bet on Glencore backfires with $100 million loss

London hedge fund giant Lansdowne Partners lost $100 million from a long-term bet against Glencore, a multinational trader and operator in commodities and owner of Kazakhstan’s largest zinc mining corporation, this year after the spectacular recovery of the miner took some by surprise. For Lansdowne, that bet had generated returns...

London hedge fund giant Lansdowne Partners lost $100 million from a long-term bet against Glencore, a multinational trader and operator in commodities and owner of Kazakhstan’s largest zinc mining corporation, this year after the spectacular recovery of the miner took some by surprise. For Lansdowne, that bet had generated returns...

Manufacturing industry

20.11.2017

Kazakh plant to supply rails to Russia

Kazakh Aktobe Rail-Belt Plant LLP (ARBP) and Russian Railways signed an agreement on supply of 7,500 tons of Р65 rails to Russia.

The agreement was signed by the Head of Kazakhstan Railways Kanat Alpysbaev and the President of Russian Railways Oleg Belozerov at the 19th meeting of the Kazakhstan-Russia intergovernmental commission...

Kazakh Aktobe Rail-Belt Plant LLP (ARBP) and Russian Railways signed an agreement on supply of 7,500 tons of Р65 rails to Russia.

The agreement was signed by the Head of Kazakhstan Railways Kanat Alpysbaev and the President of Russian Railways Oleg Belozerov at the 19th meeting of the Kazakhstan-Russia intergovernmental commission...

Trade and Consumer Goods

20.11.2017

Sagintayev discusses agribusiness development in southern regions

During a working visit to the Zhambyl region, Prime Minister of Kazakhstan Bakytzhan Sagintayev held a meeting with deputy governors of the southern regions on agribusiness development and progress of the State 2017-2021 Program for Agro-industrial Complex Development, Kazpravda.kz reports citing the press service of the PM.

The meeting discussed ways...

During a working visit to the Zhambyl region, Prime Minister of Kazakhstan Bakytzhan Sagintayev held a meeting with deputy governors of the southern regions on agribusiness development and progress of the State 2017-2021 Program for Agro-industrial Complex Development, Kazpravda.kz reports citing the press service of the PM.

The meeting discussed ways...

20.11.2017

Kazakh company exporting canned vegetables to China

Kazakh Baiterek 4 LLC started to export canned vegetables to China.

The company functions in South Kazakhstan and produces 1.5 tons of vegetable products per year, according to executive body of South Kazakhstan region.

“The demand for our products grows every day. I think our consumers are satisfied with our products, and...

Kazakh Baiterek 4 LLC started to export canned vegetables to China.

The company functions in South Kazakhstan and produces 1.5 tons of vegetable products per year, according to executive body of South Kazakhstan region.

“The demand for our products grows every day. I think our consumers are satisfied with our products, and...

20.11.2017

Owners of infected cows receive compensation

The veterinary Service of the Karaganda region does everything to protect the agricultural industry from the impact of diseases. Vaccination of animals is carried out, and, if necessary, infected animals are being destroyed.

Kairbek Tursynbekov, Deputy Head of the Karaganda Regional Veterinary Administration, told about the current situation in Nureynsky district...

The veterinary Service of the Karaganda region does everything to protect the agricultural industry from the impact of diseases. Vaccination of animals is carried out, and, if necessary, infected animals are being destroyed.

Kairbek Tursynbekov, Deputy Head of the Karaganda Regional Veterinary Administration, told about the current situation in Nureynsky district...

20.11.2017

Weekly grain, oilseeds market view from Europe

In Europe, lack of demand has undercut grain prices, with competitively priced Black Sea, US and Argentinian wheat adding more pressure.

Vivergo’s plans to bring forward annual maintenance and close its plant in Hull could put UK farmers’ basis levels under pressure.

And oilseeds markets remain volatile and uncertain.

Global market direction is...

In Europe, lack of demand has undercut grain prices, with competitively priced Black Sea, US and Argentinian wheat adding more pressure.

Vivergo’s plans to bring forward annual maintenance and close its plant in Hull could put UK farmers’ basis levels under pressure.

And oilseeds markets remain volatile and uncertain.

Global market direction is...

20.11.2017

Eurasian Economic Union close to signing free trade zone agreement with China

The Eurasian Economic Union (EAEU), consisting of Kazakhstan, Kyrgyzstan, Russia, Belarus and Armenia, is close to signing an agreement on the establishment of a free trade zone with China, Russia’s First Deputy Prime Minister Igor Shuvalov said in an interview with Rossiya24 TV channel.

"We are ready to sign an agreement...

The Eurasian Economic Union (EAEU), consisting of Kazakhstan, Kyrgyzstan, Russia, Belarus and Armenia, is close to signing an agreement on the establishment of a free trade zone with China, Russia’s First Deputy Prime Minister Igor Shuvalov said in an interview with Rossiya24 TV channel.

"We are ready to sign an agreement...

20.11.2017

Putin ratifies agreement on Eurasian Economic Union customs code

Russian President Vladimir Putin ratified the agreement on the Customs Code of the Eurasian Economic Union (EAEU).

The relevant law was posted on the official portal of legal information on Tuesday.

"To ratify the agreement on the Customs Code of the Eurasian Economic Union, signed in the city of Moscow on April...

Russian President Vladimir Putin ratified the agreement on the Customs Code of the Eurasian Economic Union (EAEU).

The relevant law was posted on the official portal of legal information on Tuesday.

"To ratify the agreement on the Customs Code of the Eurasian Economic Union, signed in the city of Moscow on April...

20.11.2017

Kazakhstan vs Kyrgyzstan: who wins the trade war?

Relations between Kazakhstan and Kyrgyzstan have not yet stabilised, but it is possible to assess what the structure of exports and imports between the two countries was before the conflict caused, in part, by the sharp statements of the President of Kyrgyzstan to the head of Kazakhstan. And how can...

Relations between Kazakhstan and Kyrgyzstan have not yet stabilised, but it is possible to assess what the structure of exports and imports between the two countries was before the conflict caused, in part, by the sharp statements of the President of Kyrgyzstan to the head of Kazakhstan. And how can...

Communications and Transportation

20.11.2017

Kazakh-Russian government commission agreed on Eurasia railway corridor route

At the 19th meeting of the Intergovernmental Cooperation Commission in Aktobe, Kazakhstan and Russia agreed on the proposed route for the high-speed cargo and passenger rail corridor Eurasia, Kazpravda.kz reports citing the press service of the Kazakh Ministry of Investment and Development.

As the ministry says, the parties supported the creation...

At the 19th meeting of the Intergovernmental Cooperation Commission in Aktobe, Kazakhstan and Russia agreed on the proposed route for the high-speed cargo and passenger rail corridor Eurasia, Kazpravda.kz reports citing the press service of the Kazakh Ministry of Investment and Development.

As the ministry says, the parties supported the creation...

20.11.2017

Kazakh Scat company acquires 6 new Boeing airplanes

Kazakh SCAT airline has signed a contract with the American Boeing corporation on purchasing 6 Boeing 737 MAX 8 aircraft.

"The conclusion of this contract is especially significant for our company, taking into account its 20th anniversary this year. The purchase of Boeing 737 MAX 8 SCAT not only raises the...

Kazakh SCAT airline has signed a contract with the American Boeing corporation on purchasing 6 Boeing 737 MAX 8 aircraft.

"The conclusion of this contract is especially significant for our company, taking into account its 20th anniversary this year. The purchase of Boeing 737 MAX 8 SCAT not only raises the...

20.11.2017

National standard of roadside service will start operating in Kazakhstan

Starting from summer 2018, a national standard roadside service will begin to operate in Kazakhstan. This was announced at a briefing in the Ministry of Investment and Development by the managing director for business development of KazAvtoZhol Rustam Isaev, Kazpravda.kz reports.

"One of the tasks of the state program Nurly Zhol...

Starting from summer 2018, a national standard roadside service will begin to operate in Kazakhstan. This was announced at a briefing in the Ministry of Investment and Development by the managing director for business development of KazAvtoZhol Rustam Isaev, Kazpravda.kz reports.

"One of the tasks of the state program Nurly Zhol...

20.11.2017

Rakhim Oshakbayev: Kazakhstan's information market is estimated at 450-500 billion tenge

The information market in Kazakhstan is worth about 450-500 billion tenge, while the industry has great growth opportunities, which are hampered by a lack of quality research and a lack of complete information, including the volume of government orders.

"We have done research on the media market on the basis of...

The information market in Kazakhstan is worth about 450-500 billion tenge, while the industry has great growth opportunities, which are hampered by a lack of quality research and a lack of complete information, including the volume of government orders.

"We have done research on the media market on the basis of...

20.11.2017

Postal services regain interest of Kazakhstanis

After a two-year decline, the volume of postal and courier services returned to growth by 18% for the year so far.

In the first 10 months, the value of services in the postal and courier business segment reached KZT25.5 billion, which is 17.6% more than in the previous year. Taking into...

After a two-year decline, the volume of postal and courier services returned to growth by 18% for the year so far.

In the first 10 months, the value of services in the postal and courier business segment reached KZT25.5 billion, which is 17.6% more than in the previous year. Taking into...

Real Estate

20.11.2017

Rent for up-market offices declines for the third month in a row

Demand for expensive offices in Kazakhstan is falling: the index of prices for renting A class offices is declining for the third consecutive month. After a slight increase in July by 0.1%, the cost of renting of the most expensive office spaces in August again began to fall, and during...

Demand for expensive offices in Kazakhstan is falling: the index of prices for renting A class offices is declining for the third consecutive month. After a slight increase in July by 0.1%, the cost of renting of the most expensive office spaces in August again began to fall, and during...

Regional News

20.11.2017

China to transfer state capital to social security funds

China will transfer some state capital including shares of state-owned companies (SOE) and financial institutions to the country's social security funds as an aging society puts pressure on pension payments, official document showed Saturday.

Capital will be transferred to the National Council for Social Security Fund and wholly state-owned companies, according...

China will transfer some state capital including shares of state-owned companies (SOE) and financial institutions to the country's social security funds as an aging society puts pressure on pension payments, official document showed Saturday.

Capital will be transferred to the National Council for Social Security Fund and wholly state-owned companies, according...

20.11.2017

CBRC tightens rules for commercial banks

China's top banking regulator has drafted a regulation on equity management for commercial banks to tighten controls on financial risk and combat illegal activities.

The China Banking Regulatory Commission started soliciting public opinion on Thursday on the interim regulation on equity management, which would impose stricter supervision on major shareholders of...

China's top banking regulator has drafted a regulation on equity management for commercial banks to tighten controls on financial risk and combat illegal activities.

The China Banking Regulatory Commission started soliciting public opinion on Thursday on the interim regulation on equity management, which would impose stricter supervision on major shareholders of...

20.11.2017

Russian Center for Strategic Research charts course for streamlining government reform

The Center for Strategic Research (CSR) headed by ex-Finance Minister Alexey Kudrin has presented its final proposals on government reform, which had been discussed at a meeting of the working group of the President’s Economic Council earlier this week, RBC daily says. The CSR suggested cutting expenses on government staff...

The Center for Strategic Research (CSR) headed by ex-Finance Minister Alexey Kudrin has presented its final proposals on government reform, which had been discussed at a meeting of the working group of the President’s Economic Council earlier this week, RBC daily says. The CSR suggested cutting expenses on government staff...

20.11.2017

Russian government wants to hand product labelling over to private sector

The product labelling system, which is now handled by the Russian Federal Tax Service, might become a public-private partnership. A partner has already been found - the Center for the Development of Advanced Technologies, owned by the structures of USM Holdings whose co-owners are Alisher Usmanov, the Rostec corporation and...

The product labelling system, which is now handled by the Russian Federal Tax Service, might become a public-private partnership. A partner has already been found - the Center for the Development of Advanced Technologies, owned by the structures of USM Holdings whose co-owners are Alisher Usmanov, the Rostec corporation and...

20.11.2017

Russia increases oil reserves to 15 bln tonnes

Russia beefed up its oil and gas condensate reserves to 15 bln tonnes of oil equivalent - a 7-year record, Izvestia wrote referring to the report by VNIIzarubezhgeologiya (a Rosgeo subsidiary). Reaching the new high was due to both the discovery of new deposits and the OPEC production freeze deal....

Russia beefed up its oil and gas condensate reserves to 15 bln tonnes of oil equivalent - a 7-year record, Izvestia wrote referring to the report by VNIIzarubezhgeologiya (a Rosgeo subsidiary). Reaching the new high was due to both the discovery of new deposits and the OPEC production freeze deal....

20.11.2017

Atambayev meets with Putin

President of Kyrgyzstan Almazbek Atambayev today met with President of Russia Vladimir Putin during his working visit to t St. Petersburg of the Russian Federation.

The Kyrgyz President’s press service reported that Putin warmly welcomed Atambayev and called it symbolic that the first and final visit of the Kyrgyz leader took...

President of Kyrgyzstan Almazbek Atambayev today met with President of Russia Vladimir Putin during his working visit to t St. Petersburg of the Russian Federation.

The Kyrgyz President’s press service reported that Putin warmly welcomed Atambayev and called it symbolic that the first and final visit of the Kyrgyz leader took...

20.11.2017

Uzbekistan revamps downstream gas equipment manufacturing

The demand for gas cylinders produced at Uzbekistan – China joint venture operating in Kokand – “Shaffof metan sanoat” LLC, is growing. Capacities of the enterprise allow to produce 100 thousand cylinders a year, quality and safety of products are guaranteed. In our country, special attention is paid to...

The demand for gas cylinders produced at Uzbekistan – China joint venture operating in Kokand – “Shaffof metan sanoat” LLC, is growing. Capacities of the enterprise allow to produce 100 thousand cylinders a year, quality and safety of products are guaranteed. In our country, special attention is paid to...

20.11.2017

ADB approves first full country partnership strategy for Turkmenistan

The Asian Development Bank’s (ADB) Board of Directors has endorsed a 5-year Country Partnership Strategy (CPS) for Turkmenistan to support regional cooperation and economic diversification during 2017-2021. This is ADB’s first full CPS with Turkmenistan since the country joined ADB in 2000, the Bank said on November 17.

Fuelled by its...

The Asian Development Bank’s (ADB) Board of Directors has endorsed a 5-year Country Partnership Strategy (CPS) for Turkmenistan to support regional cooperation and economic diversification during 2017-2021. This is ADB’s first full CPS with Turkmenistan since the country joined ADB in 2000, the Bank said on November 17.

Fuelled by its...

20.11.2017

Tajikistan's exports up by one third

The export of Tajik industry products since the beginning of 2017 amounted to more than $1 billion, showing a 35 percent ($258 million) increase compared to the January-October 2016, according to the data of the Agency for Statistics under the President of Tajikistan.

The growth of the indicator is explained by...

The export of Tajik industry products since the beginning of 2017 amounted to more than $1 billion, showing a 35 percent ($258 million) increase compared to the January-October 2016, according to the data of the Agency for Statistics under the President of Tajikistan.

The growth of the indicator is explained by...

20.11.2017

Afghanistan highlights importance of infrastructure projects involving Turkmenistan

Turkmen President Gurbanguly Berdimuhamedov has received Chief Adviser on Infrastructure and Technology to the Afghan president Mohammad Humayon Qayoumi, the Turkmen government said in message on November 17.

According to the message, Qayoumi stressed the great importance of the large-scale projects, which are being implemented, for the regional countries.

Among those projects are...

Turkmen President Gurbanguly Berdimuhamedov has received Chief Adviser on Infrastructure and Technology to the Afghan president Mohammad Humayon Qayoumi, the Turkmen government said in message on November 17.

According to the message, Qayoumi stressed the great importance of the large-scale projects, which are being implemented, for the regional countries.

Among those projects are...

20.11.2017

Bank of Mongolia buys 18.4 tons of gold in 2017

As of November 15, Bank of Mongolia (BoM) bought 18.4 tons of gold, the state news agency reported.

Monthly performance indicates that gold purchase is consistently increasing compared to the same period of 2016.

The total amount of gold reached 17.2 tons in the first ten months of 2017, increased by 1.3...

As of November 15, Bank of Mongolia (BoM) bought 18.4 tons of gold, the state news agency reported.

Monthly performance indicates that gold purchase is consistently increasing compared to the same period of 2016.

The total amount of gold reached 17.2 tons in the first ten months of 2017, increased by 1.3...

20.11.2017

Blast near political gathering in Kabul leaves 14 dead

A suicide attacker blew himself up outside a political gathering in Kabul killing at least 14 people, officials said on Thursday.

The deadly attack, claimed by the militant Islamic State (IS) group in a brief message via its Amaq propaganda agency, was the latest to hit the Afghan capital, where militants...

A suicide attacker blew himself up outside a political gathering in Kabul killing at least 14 people, officials said on Thursday.

The deadly attack, claimed by the militant Islamic State (IS) group in a brief message via its Amaq propaganda agency, was the latest to hit the Afghan capital, where militants...

Prices and Statistics

20.11.2017

Commodities

Date: November 20, 2017; Source: Bloomberg.com  Energy
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EST) 2 DAY
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 56.59 +0.04 +0.07% Dec 2017 11:38 PM
CO1:COMBrent Crude (ICE) USD/bbl. 62.56 -0.16 -0.26% Jan 2018 11:39 PM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 174.04 -0.43 -0.25% Dec 2017 11:25 PM
NG1:COMNatural Gas (Nymex) USD/MMBtu 3.08 -0.02 -0.58% Dec 2017 11:40 PM
HO1:COMHeating Oil (Nymex) USd/gal. 194.49 -0.17 -0.09% Dec 2017 11:16 PM
Precious and Industrial Metals
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EST) 2 DAY
GC1:COMGold (Comex) USD/t oz. 1,292.20 -4.30 -0.33% Dec 2017 11:40 PM
XAUUSD:CURGold Spot USD/t oz. 1,292.30 -0.12 -0.01% N/A 11:51 PM
SI1:COMSilver (Comex) USD/t oz. 17.20 -0.17 -1.00% Dec 2017 11:40 PM
HG1:COMCopper (Comex) USd/lb. 307.95 -1.15 -0.37% Mar 2018 11:34 PM
XPTUSD:CURPlatinum Spot USD/t oz. 943.95 -7.98 -0.84% N/A 11:50 PM
Agriculture
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EST) 2 DAY
C 1:COMCorn (CBOT) USd/bu. 355.00 0.00 0.00% Mar 2018 11:28 PM
W 1:COMWheat (CBOT) USd/bu. 439.50 -4.00 -0.90% Mar 2018 11:40 PM
CC1:COMCocoa (ICE) USD/MT 2,131.00 -9.00 -0.42% Mar 2018 11/17/2017
CT1:COMCotton #2 (ICE) USd/lb. 69.50 +0.15 +0.22% Mar 2018 11:36 PM
LC1:COMLive Cattle (CME) USd/lb. 124.68 -0.45 -0.36% Feb 2018 11/17/2017

Date: November 20, 2017; Source: Bloomberg.com 

Energy

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EST) 2 DAY
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 56.59 +0.04 +0.07% Dec 2017 11:38 PM
CO1:COMBrent Crude (ICE) USD/bbl. 62.56 -0.16 -0.26% Jan 2018 11:39 PM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 174.04 -0.43 -0.25% Dec 2017 11:25 PM
NG1:COMNatural Gas (Nymex) USD/MMBtu 3.08 -0.02 -0.58% Dec 2017 11:40 PM
HO1:COMHeating Oil (Nymex) USd/gal. 194.49 -0.17 -0.09% Dec 2017 11:16 PM

Precious and Industrial Metals

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EST) 2 DAY
GC1:COMGold (Comex) USD/t oz. 1,292.20 -4.30 -0.33% Dec 2017 11:40 PM
XAUUSD:CURGold Spot USD/t oz. 1,292.30 -0.12 -0.01% N/A 11:51 PM
SI1:COMSilver (Comex) USD/t oz. 17.20 -0.17 -1.00% Dec 2017 11:40 PM
HG1:COMCopper (Comex) USd/lb. 307.95 -1.15 -0.37% Mar 2018 11:34 PM
XPTUSD:CURPlatinum Spot USD/t oz. 943.95 -7.98 -0.84% N/A 11:50 PM

Agriculture

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EST) 2 DAY
C 1:COMCorn (CBOT) USd/bu. 355.00 0.00 0.00% Mar 2018 11:28 PM
W 1:COMWheat (CBOT) USd/bu. 439.50 -4.00 -0.90% Mar 2018 11:40 PM
CC1:COMCocoa (ICE) USD/MT 2,131.00 -9.00 -0.42% Mar 2018 11/17/2017
CT1:COMCotton #2 (ICE) USd/lb. 69.50 +0.15 +0.22% Mar 2018 11:36 PM
LC1:COMLive Cattle (CME) USd/lb. 124.68 -0.45 -0.36% Feb 2018 11/17/2017
20.11.2017

Exchange Rates

Date: November 20, 2017; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 332.21
1 EURO EUR / KZT 391.74
1 RUSSIAN ROUBLE RUB / KZT 5.57
1 CHINESE YUAN CNY / KZT 50.08
1 KYRGYZIAN SOM KGS / KZT 4.77
1 CANADIAN DOLLAR CAD / KZT 260.41
1 AUSTRALIAN DOLLAR AUD / KZT 250.85

Date: November 20, 2017; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

332.21

1 EURO

EUR / KZT

391.74

1 RUSSIAN ROUBLE

RUB / KZT

5.57

1 CHINESE YUAN

CNY / KZT

50.08

1 KYRGYZIAN SOM

KGS / KZT

4.77

1 CANADIAN DOLLAR

CAD / KZT

260.41

1 AUSTRALIAN DOLLAR

AUD / KZT

250.85