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News: Tuesday, January 24, 2017 -- Issue 2664 http://www.newsline.kz/rss/

Article of the Day

Astana talks draft communique: Russia, Turkey, Iran to fight against IS, al-Nusra together
    Russia, Turkey and Iran welcome the separation of terrorists and groups of armed opposition and plan to jointly fight against militants of the Islamic State and the al-Nusra terrorists groups, a draft communique due to be signed after the Astana talks says.
    "Iran, Russia and Turkey confirm their determination for joint fight against the IS and al-Nusra and their separation from the armed opposition groups," says the document that the countries-guarantors plan to sign after the talks in Astana on Tuesday.
    Russia, Turkey and Iran plan to set up a trilateral mechanism to monitor the ceasefire in Syria, as follows from the final communique the guarantor countries plan to sign upon completion of the talks on Syria in Astana.
    "We are planning to create a trilateral mechanism to make sure the ceasefire be observed and to prevent any provocations," says the draft communique.
    "We express the certainty that there is a real need for exerting efforts for the resumption of the negotiating process in keeping with Resolution 2254 of the UN Security Council," says the draft resolution.
    The parties pledge to support the government of Syria and the opposition at a meeting in Geneva under the UN auspices on February 8 and also to provide assistance to the armed opposition groups that wish to participate in these negotiations.
    On Sunday, the delegations of three countries-guarantors - Russia, Iran and Turkey - held a meeting to discuss the draft final communique of talks in the Kazakh capital, Tass reported.

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Kazakhstan General

Nazarbayev meets with the UN Secretary General Special Envoy for Syria Staffan de Mistura
    President Nursultan Nazarbayev met with the UN Secretary General Special Envoy for Syria Staffan de Mistura.
    During the meeting the parties discussed the forthcoming negotiations on settling ...
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Foreign officials upbeat about Kazakhstan’s perspectives
    Kazakhstan has vast opportunities for successful growth, foreign political scientists and analysts say. Kazakhstan has already achieved impressive results. Kazakhstan’s economy has grown by more than ...
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Snowstorm, precipitations and fog forecasted for most parts of Kazakhstan
    Kazhydromet forecasts unstable weather with snow, snowstorm, fog, ice, strong winds in Kazakhstan on Tuesday with the movement of atmospheric fronts.
    Strong wind up to 15-20 m/s ...
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Expo-2017

Japan hopes EXPO 2017 will offer new opportunities for business
    The Embassy of Japan in Kazakhstan congratulates Kazakhstanis on 25 years since the establishment of diplomatic relations between the two countries.
    "Our countries established diplomatic relations ...
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Oil and Gas Sector

Light oil and gas field found in Atyrau province
    Kazakhstan’s Energy Ministry announces a discovery of light oil and gas reserves in the Devonian subsalt deposit of Ansagan, Kazpravda.kz reports citing the Ministry’s press-service.
    The Ansagan ...
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TCO to supply dry gas to new gas chemical complex in Atyrau
    After completion of the construction project of Kazakhstan’s first integrated Gas Chemical Complex the raw material will be supplied from Tengiz field.
    Each year the Gas Chemical ...
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Kazakhstan poised to deliver up ton 13 bln m3 of gas to Russia
    Kazakhstan and Russian oil and gas giants KazMunayGas and Gazprom agreed on the Kazakh gas supplies for 2017, reports the KazTransGas company.
    Thus, Kazakhstan will deliver about ...
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TAPI project contract signed in Ashgabat
    A contract for development of pre-project documentation (Front End Engineering & Design) and provision of services for project management and technical supervision for the Afghanistan-Pakistan stretch ...
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Unlike the Saudis, Russia can't simply shut off oil taps
    Moscow is committed to the OPEC agreement to cut oil production, but it can’t technically slash its output instantly, according to Russian Energy Minister Aleksandr Novak.
    “We ...
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OPEC, Russia say oil cuts are deeper and faster than expected
    OPEC and Russia said they are ahead of schedule implementing their historic agreement to curb oil output and boost prices.
    Saudi Arabia, Algeria and Kuwait have already ...
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Rosneft will boost oil supplies to China to 31 mln tonnes in 2017
    Russia’s top oil producer Rosneft plans to boost oil supplies to China to 31 mln tonnes in 2017, Chief Executive Officer Igor Sechin said at a ...
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Russia’s Lukoil plans to broaden presence in Baltic Sea
    Russian oil and gas major Lukoil plans to strengthen its presence in offshore oil and gas projects in the Baltic Sea, Minister of Natural Resources Sergei ...
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Oil prices rebound on weaker dollar, production cuts
    by Naveen Thukral
    Oil climbed on Tuesday as a weaker U.S. dollar and production cuts announced by OPEC and other producers buoyed the market, but an ...
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What's affecting oil prices this week? (Jan. 23, 2017)
    As has been the case since the election of Donald J. Trump, Stratas Advisors' Geopolitical Team has been assessing the impact of the new administration on ...
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Europe’s gas reserves dwindle, production costs up against stagnating sales prices
    The European Union’s crusade against the "dependence" on Russian gas is finishing in the most ignominious way.
    Gas Infrastructure Europe (GIE) reports that the reserves of gas ...
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Finance and Investment

PM meets with Ambassador of the Kingdom of the Netherlands to Kazakhstan Dirk Jan Kop
    Prime Minister of Kazakhstan Bakytzhan Sagintayev held a meeting with Ambassador Extraordinary and Plenipotentiary of the Kingdom of the Netherlands to the Republic of Kazakhstan Dirk ...
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It’s time for business to respond to state support – Nazarbayev to top managers of NCE Atameken
    Chairman of the Presidium of the National Chamber of Entrepreneurs "Atameken" Timur Kulibayev and board chairman of the NCE Ablay Myrzahmetov accounted to the President on ...
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Korea’s Kookmin to sell Kazakh bank stake amid losses
    by Yoon Ja-young
    KB Kookmin Bank will sell its stake in a Kazakh bank that it acquired in 2008 after the Kazakh enterprise suffered huge losses.
    The bank ...
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Gov’t to Spend $27.1 million for Development of Kentau Infrastructure
    by Lyubov Dobrota
    The government is going to finance Kentau from the national and regional budgets to the amount of 9 billion tenge (US$27.1 million) this ...
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When bankers put on social caps
    Kazakhstan’s banks are becoming more and more friendly towards clients and more often accept an informal tone in communication with them in social media. To react ...
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Metals and Minerals

Russia expected to sell Klondike gold deposit cheap amid sanctions - sources
    by Polina Devitt
    Russia is expected to sell discounted rights to one of the world's largest untapped gold deposits this week to a joint venture of miner ...
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Copper leads metals markets higher on weak dollar
    Copper led most base metals higher on Tuesday as the dollar struggled amid concerns of U.S. protectionism under the newly-formed administration of U.S. President Donald Trump.
    Three-month ...
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Gold Price Hits 9-Week High as Dollar Falls, Trump Trade Tariffs 'Threaten Inflation', Silver Comex Bulls +10%
    by Adrian Ash
    Gold prices touched 9-week highs against a falling Dollar on Monday, rising while world stock markets fell amid fresh concerns over inflation as new ...
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Diversification: Buying gold as investment insurance
    Does buying gold make sense for investors wanting diversification for their portfolio?
    Historical data show gold acting as "investment insurance" – a simple tool for smoothing your ...
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Capacity cuts to take heat off coal
    A price adjustment scheme will help stabilize China's coal industry in 2017 as the authorities press ahead with capacity reduction, according to the chief of the ...
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Uranium week: there can only be upside
    by Greg Peel
    This week sees the global Nuclear Fuel Suppliers Forum held in Washington, which typically slows down market activity given participants are absent. Last week ...
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Trade and Consumer Goods

Grain stocks in Kazakhstan are up 7.4% from last year
    According to the Statistics Committee of the Republic of Kazakhstan, farms of all types held 14.82 million tonne of cereals and pulses as of January 1, ...
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Agriculture: Kazakhstan unveils new master plan
    Over the next four years, Kazakhstan plans to improve the profitability of its grain industry by 30% to 40% through the introduction of a new state ...
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AM markets: retreat of Argentine rains dries up soy buying
    The Argentine weather outlook, the biggest price moving factor for grain markets of late, is not so bad for farmers, for now.
    The rains that have plagued ...
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Communications and Transportation

Kazakh car makers confident in their ability to reinforce market position
    Kazakhstan’s car market is expected to be successful in 2017. This forecast was provided by the management of the Kazakhstan’s Car Business Association. According to experts, ...
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Culture and Society

After Hollywood and Bollywood, Kallywood?
    Kazakhstan plans to create a fund to support domestic cinematography following the example of foreign countries, as well as to attract investors to the industry from ...
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Regional News

Hopes and fears on people’s Silk Road in Kyrgyzstan
    by Gabrielle Battaglia
    Cisulu grimaces while talking about the gauntlet she has been thrown by foreign competitors. “The Chinese say, ‘You took away our market, we will ...
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Russia’s industry minister says tax-free system may soon be introduced
    Russia’s Industry and Trade Ministry has submitted proposals on tax-free system to be introduced in Moscow, St. Petersburg and Sochi to the Finance Ministry, Industry and ...
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China sets up US$14.6 billion internet investment fund: Xinhua
    China has set up a 100 billion yuan (US$14.55 billion) fund to support investment in the internet sector, the official news agency Xinhua said on Sunday.
    The ...
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China's service sector shines despite slowing economy
    Despite a slowing economy, China's service sector was eye-catching in terms of growth, investment attraction and tax contribution in 2016, an official said Sunday.
    Xu Jianyi, with ...
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Uzbek companies sign contracts for over US$10m at first days of Green Week
    The 82nd International trade exhibition for the food, agriculture, and gardening industry – Green Week 2017 – is taking place in Berlin, Germany.
    International exhibition “Green ...
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Uzbekistan created Uzshahar Qurilish Invest
    President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On additional measures on effective realization of the programme on construction and reconstruction of affordable apartment houses in ...
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EU to grant ˆ168 to Uzbekistan for agricultural sector
    The European Union plans to provide grant to Uzbekistan in the amount of 168 million euros.
    The money will be spent for support of agriculture in rural ...
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‘Operation Firewood’ aims to cut down Tajik deforestation
    While with Tajikistan facing one of its harshest winters in recent years, forest rangers in southern Khatlon Province are working overtime to save trees.
    “Winter came early ...
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Prices and Statistics

Commodities
    

Date: January 24, 2017; Source: Bloomberg.com

Energy

Index Units Price Change %Change Contract Time (EST) 2 Day
USD/bbl. 52.97 +0.22 +0.42% Mar 2017 12:43 AM
USD/bbl. 55.50 +0.27 +0.49% Mar 2017 12:42 AM
USd/gal. 157.80 +1.13 +0.72% Feb 2017 12:25 AM
USD/MMBtu 3.27 +0.03 +0.86% Feb 2017 12:42 AM
USd/gal. 163.22 +0.57 +0.35% Feb 2017 1/23/2017
 
Index Units Price Change %Change Contract Time (EST) 2 Day
USD/t oz. 1,216.00 +0.40 +0.03% Feb 2017 12:43 AM
USD/t oz. 1,215.78 -2.45 -0.20% N/A 12:52 AM
USD/t oz. 17.19 +0.00 +0.02% Mar 2017 12:42 AM
USd/lb. 265.20 +0.45 +0.17% Mar 2017 12:42 AM
USD/t oz. 982.57 +0.22 +0.02% N/A 12:53 AM
Index Units Price Change %Change Contract Time (EST) 2 Day
USd/bu. 370.25 +0.75 +0.20% Mar 2017 12:43 AM
USd/bu. 434.50 +1.25 +0.29% Mar 2017 12:41 AM
USD/MT 2,165.00 +25.00 +1.17% Mar 2017 1/23/2017
USd/lb. 74.91 +0.28 +0.38% Mar 2017 12:34 AM
USd/lb. 119.18 +0.20 +0.17% Apr 2017 1/23/2017
 

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Exchange Rates
    

Date: January 24, 2016; Source: the National Bank of Kazakhstan

1 USD KZT 331.42 1 CHF

KZT 331.88

1 CNY

KZT 48.35

1 TRY KZT 87.98 1 JPY KZT 2.92
1 EUR

KZT 355.75

1 AUD

KZT 250.45

1 KGS KZT 4.77 100 UZS KZT 10.15 1 BYN KZT 171.72
1 GBP KZT 412.85 1 CAD KZT 249.68 1 RUB KZT 5.58 100 KRW KZT 28.39 1 UAH KZT 12.14

 

 

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