News: Thursday, July 29, 2010 
Article of the Day
Kazakhstan on Pace to stay Tops in Uranium
By Raushan Nurshayeva
Kazakhstan boosted uranium production by 41 percent in the first six months of 2010 to cement its place as the world's largest producer.
The country produced 8,452 tons of uranium in the first half, said Albert Rau, deputy minister for Industry and New Technologies. It is expected to produce 9,770 tons in the second half, he said.
That would mean 18,222 tons for the year, in line with an earlier forecast and 31 percent more than the 13,900 tons it produced last year.
Kazakhstan overtook Canada in 2009 as the world's biggest uranium miner.
"Kazakhstan will preserve its undisputed position as global leader in uranium production," Rau said at a government meeting.
The country last year accounted for more than a quarter of global uranium output.
Kazakhstan, which holds more than 15 percent of global uranium reserves, has previously said it could raise production to more than 25,000 tons a year by 2015.
Only Australia holds more known uranium reserves in the ground.
The World Nuclear Association said global uranium consumption will be about 68,646 tons this year.
It forecasts consumption rising 33 percent to 91,537 tons a year in 2020 and 55 percent to 106,128 tons a year in 2030.
The state nuclear firm KazAtomProm has ambitions to take its uranium through the entire fuel cycle by 2020, a process that will require it to build a reactor, Reuters reports.
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Kazakhstan General
Use-based Water Rates are coming
Kazakhstan will introduce water rates based on use before 2014.
The current system of a flat monthly rate for water wastes the resources, according to
Nurlan Aldabergenov,
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Karaganda Plant to build Farm Aircraft
Kazakhstan’s need for crop-dusters and other planes for agriculture has led to plans to build a plant that makes the aircraft in Karaganda.
Kazakhstan will need 500
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Oil and Gas Sector
Kazakhstan Aims to End Gas Flaring by 2012
By Madina Imanaliyeva
Kazakhstan has set an ambitious goal of ending flaring in less than 18 months, the Focus business newspaper reports.
Since 2006 it has substantially reduced
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Acquisition boosts KazMunaiGas Unit’s Oil Output
KazMunaiGas Exploration Production’s oil output rose 11 percent in the first six months of the year to 6.28 million tons from 5.66 million in the first
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Tengizchevroil Oil Output at 12.5 Million Tons in Half
Tengizchevroil produced 12.5 million tons of oil and 4 billion cubic meters of gas in the first half.
The oil production amounted to 99.5 million barrels a
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Pipeline Expansion Bids to be sought in 2010
The Caspian Pipeline Consortium, which transports oil from Kazakhstan to the Black Sea, will hold tenders for expansion of the pipeline by the end of the
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Finance and Investment
Islamic Bond Issue replaces Eurobond Plan
By Denis Maternovsky and Khalid Qayu
Kazakhstan, which last sold international debt in 2000, is planning a debut Islamic bond sale to broaden its investor base after
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Kazakhstan, Luxembourg discuss Investment
By Dimash Syzdykov
Investment was a key topic of a recent meeting between Kazakhstan’s ambassador to Luxembourg and the country’s economic and trade minister in Brussels, Kazinform
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Non-bank Firm loses Debt-Restructuring Bid
A non-banking company recently decided that if some of Kazakhstan’s biggest banks could restructure their bond debt, it could, too.
The problem is that the law doesn’t
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Metals and Minerals
Court freezes KazakhGold Family’s Assets
A London court has frozen $500 million of the assets of the Kazakhstan family that once controlled KazakhGold, the Russian newspaper Kommersant reports.
The freeze is the
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Trade and Consumer Goods
Shots stop Dash toward Border
In a scene out of a movie, Kazakhstani border guards fired on an armored personnel carrier trying to roar into Russia with contraband consumer goods.
When the
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Communications and Transportation
Kazakhstan to get SSTL Observation Satellite
London-based SSTL has begun building an earth-observation satellite for Kazakhstan, according to a press release.
The satellite will work in conjunction with an observation satellite that the
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Kazakhstan Business helps Telesens Revenue jump
Telesens, a British company that provides telecommunications software and services to Kazakhstan and other countries in the former Soviet Union, says its revenue surged 21 percent
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Regional Business News
Russia to Raise Drivers’ Taxes to build Roads
By Lucian Kim
Russia will set up a federal fund to upgrade the country’s roads by increasing taxes on drivers.
The 2011 budget will include $12.5 billion for
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Russian Economy expands 5.4% in Second Quarter
Russia’s economic growth jumped 5.4 percent in the second quarter compared with the same quarter of 2009.
Rising consumer demand sparked the surge, Deputy Economy Minister Andrei
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70% of Russian Fund-raising is Bonds, Stock
By Jason Webb and Denis Maternovsky
Russian companies from Nomos Bank to OAO Mobile TeleSystems are depending more on bond and stock markets for financing than at
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Russia’s Second-Quarter Trade Surplus dips 19%
Russia’s trade surplus fell 19 percent to $37.4 billion in the second quarter from $46 billion in the first quarter, Prime-Tass reports.
Exports rose 40.8 percent to
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BP’s New CEO, Ousted One to travel to Russia
BP’s CEO-designate Robert Dudley and his predecessor Tony Hayward will travel to Russia soon to meet with government officials and BP's business partners.
Hayward, who served on
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Wal-Mart hires TNK-BP Executive in Its Russian Effort
Wal-Mart Stores Inc., the world’s biggest retailer, has hired an executive from BP’s Russian joint venture at its Moscow office as it looks toward opening stores
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Russian Internet Crooks faking Checks
By Jordon Robertson
Think of it as one more reason not to write checks.
Hackers believed to be operating out of Russia have figured out a high-tech way
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Prices and Statistics
Volume and Share Index by Visor Capital
Date: July 29, 2010; Source: Visor Capital
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Market Movers by Visor Capital
Date: July 29, 2010; Source: Visor Capital
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Oil and Gas Prices
Date: July 29, 2010; Source: Bloomberg.com
| Petroleum
($/bbl) |
|
Price* |
Change |
%Change |
Time |
| Nymex Crude Future |
77.29
|
.30
|
.39
|
02:58 |
| Dated Brent Spot |
76.44 |
.82 |
1.08 |
03:07 |
| WTI Cushing Spot |
76.99 |
-.51 |
-.66
|
07/28 |
| Petroleum
(cent/gal) |
|
Price* |
Change |
%Change |
Time |
| Nymex Heating Oil Future |
200.22
|
.58
|
.29 |
02:39
|
| Nymex RBOB Gasoline Future |
206.54
|
.20 |
.10 |
02:28 |
| Natural gas
($/MMBtu) |
|
Price* |
Change |
%Change |
Time |
| Nymex Henry Hub Future |
4.73 |
.01 |
.30 |
02:58 |
| Henry Hub Spot |
4.76 |
.05 |
1.06 |
07/28 |
| New York City Gate Spot |
5.13 |
.00
|
.00 |
07/28
|
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Commodities
Date: July 29, 2010; Source: Bloomberg.com
| Commodity |
Price |
Change |
%Change |
Time |
| COPPER FUTURE (USd/lb.) |
324.950 |
0.400 |
0.12 |
02:59 |
| GOLD 100 OZ FUTR (USD/t oz.) |
1171.200 |
8.800
|
0.76 |
02:59 |
| SILVER FUTURE (USD/t oz.) |
17.640 |
0.199
|
1.14
|
02:59 |
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Metal Prices
Date: July 29, 2010; Source: Kitco.com
| Silver |
17.58 |
+0.11 |
| Platinum |
1545.00 |
+8.00
|
| Palladium |
472.00 |
+4.00
|
| Rhodium |
2,200.00 |
0.00
|
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Exchange rates
Date: July 29, 2010; Source: the National Bank of Kazakhstan
| 1 USD |
KZT 147.56 |
1 CHF |
KZT 139.33 |
1 CNY |
KZT 21.77 |
1 TRY |
KZT 97.98 |
10 JPY |
KZT 1.68 |
| 1 EUR |
KZT 192.02 |
1 AUD |
KZT 132.27 |
1 KGS |
KZT 3.22 |
1 UZS |
KZT 0.09 |
|
|
| 1 GBP |
KZT 229.78 |
1 CAD |
KZT 143.10 |
1 RUB |
KZT 4.88 |
100 KRW |
KZT 12.46 |
|
|
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