News: Wednesday, March 03, 2010 
Article of the Day
Economic Growth of over 7% per Year could lead to Market Bubble - Masimov
Prime Minister Karim Masimov said that economic growth of over than 7% per year could cause market bubbles.
"I think that figures over 7% could cause dangers. It could lead to the emergence of pursuant bubbles", Masimov said in a speech given at the expanded session of the parliamentary Nur Otan “faction,” CEIBCNews reports, citing Novosti-Kazakhstan IA.
The head of the government promised that growth may be provided within 7%. If figures turn out to be over than 7% then we have to slow down," he said.
He reminded those present that economic growth was at 9%-10% during 2000-2007, according to Kazakhstan Today.
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Kazakhstan General
Astana finds that running OSCE a Constant Challenge
The responsibility of running the Organization for Security and Cooperation in Europe may be having a moderating effect on Kazakhstan, Vladimir Shkolnikov, an expert on the
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President of Romania supports Carrying out OSCE Member States in Astana
President of Romania, Trajan Basesku, during a meeting with the President of Kazakhstan, Nursultan Nazarbayev, said he believes the Summit of the Heads of the OSCE
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Presidents of Kazakhstan and Romania meet at Akorda
A meeting of the Presidents of Kazakhstan, Nursultan Nazarbayev, and Romania, Trajan Basesku, is being held in Ak Orda, Kazakhstan Today reports.
Basesku arrived today for a
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Saudabayev to visit Switzerland
Secretary of State - Minister for Foreign Affairs of Kazakhstan, OSCE Chairman, Kanat Saudabaev, will visit the Swiss Confederation on March 3 - March 6, 2010,
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Oil and Gas Sector
Kazakhstan considers Oil Pipeline across Caucasus
Kazakhstan, Central Asia's largest oil producer, is interested in a new pipeline that would link the Caspian to the Black Sea, crossing the Caucasus, Kazakh President
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CPC Shipment down 10 Percent in February
The Caspian Pipeline Consortium (CPC), which transports Kazakh crude to the Black Sea via the CPC pipeline, shipped 713,400 barrels per day in February, down 10.3
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KMG E&P Net Profit down 13 Percent in 2009
KazMunaiGas Exploration and Production (KMG E&P), the London-listed subsidiary of the Kazakh national oil company, said its net profit declined 13 percent to KZT 209.7 billion
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Government to provide Petroleum Products for Farmers at reduced Prices
The government of Kazakhstan has decided to provide reduced-price petroleum products for farmers, Prime Minister of Kazakhstan, Karim Masimov, said during a meeting with the Nur
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Finance and Investment
Czech Fund with 150% Gain says Russia Stocks Top Pick
By Krystof Chamonikolas
The Czech unit of Erste Group Bank AG that returned more than 150 percent on its Sporotrend stock fund last year says Russian equities
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National Bank buys $7.5 Billion to curb Tenge Climb
The National Bank of Kazakhstan has bought over $7.5 billion on the open market since last November, to slow the appreciation of the tenge, Grigoriy Marchenko
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Fitch Withdraws Ratings Of BTA Bank Georgia
Fitch Ratings-London/Moscow-02 March 2010: Fitch Ratings has today maintained the 'CCC' Long-term Issuer Default rating (IDR) of JSC BTA Bank (Georgia) (BTAG)'s on Rating Watch Negative
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Government confirms Budget Amendments for 2010
The Cabinet of Ministers has passed the amended national budget for 2010 at a government session on Monday, Kazakhstan Today reports.
Prime Minister Karim Masimov said the
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Entrepreneurs to get Online Outlet for dealing with Rights Violations
Entrepreneurs in Kazakhstan will now be able to register complaints via Internet to the head of state on violation of their rights on part of law
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Trade and Consumer Goods
Kazakhstan, Russia: moving further toward Integration
By Mikhail Klimentyev
Prime Minister Karim Masimov (L) with Russian President Dmitri Medvedev on Dec. 11, 2008 in Gorki, Russia
Summary
A meeting March 3 between the Kazakh
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Kazakhstan to receive 7.36% of Total Customs Duties under Customs Union
The session of the Customs Union Commission on February 26 in Moscow concluded with a decision that Kazakhstan would receive 7.36 % of total amount of
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Regional Business News
Turkmenistan pledges to improve its Prison System
By Alexander Verhinin
Turkmenistan's president has ordered the country's maximum prison sentence cut to 15 years and called for improving prison conditions, state media reported Tuesday.
The measures
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Strong Earthquake jolts Kyrgyzstan
A strong earthquake measuring 6.3 on the Richter scale struck Kyrgyzstan's capital area, the Institute of Seismology of Kyrgyzstan's National Academy of Sciences said on Tuesday.
The
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Tajik Opposition disputes Election of President Rakhmon
The election was expected to return President Emomali Rakhmon to office.
The opposition in Tajikistan has said it will mount a legal challenge to parliamentary elections.
The election
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Activists: Uzbekistan orders Forced Sterilizations
By Mansur Mirovalev
A human rights group and a think-tank alleged Tuesday that Uzbekistan's government has instructed health workers to surgically sterilize women as part of a
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Prices and Statistics
Volume and Share Index by Visor Capital
Date: March 3, 2010; Source: Visor Capital
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Market Movers by Visor Capital
Date: March 3, 2010; Source: Visor Capital
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Oil and Gas Prices
Date: March 3, 2010; Source: Bloomberg.com
| Petroleum
($/bbl) |
|
Price* |
Change |
%Change |
Time |
| Nymex Crude Future |
79.64
|
-.04
|
-.05
|
01:13 |
| Dated Brent Spot |
77.21 |
-.17 |
-.22 |
01:17 |
| WTI Cushing Spot |
79.68 |
.98 |
1.25
|
03/02 |
| Petroleum
(cent/gal) |
|
Price* |
Change |
%Change |
Time |
| Nymex Heating Oil Future |
206.05
|
.44
|
.21 |
00:13
|
| Nymex RBOB Gasoline Future |
219.76
|
.10 |
.05 |
00:19 |
| Natural gas
($/MMBtu) |
|
Price* |
Change |
%Change |
Time |
| Nymex Henry Hub Future |
4.73 |
.02 |
.38 |
01:11 |
| Henry Hub Spot |
4.78 |
-.04 |
-.83 |
03/02 |
| New York City Gate Spot |
5.20 |
-.07
|
-1.33 |
03/02
|
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Commodities
Date: March 3, 2010; Source: Bloomberg.com
| Commodity |
Price |
Change |
%Change |
Time |
| COPPER FUTURE (USd/lb.) |
336.550 |
-4.600 |
-1.35 |
01:13 |
| GOLD 100 OZ FUTR (USD/t oz.) |
1134.000 |
-3.400 |
-0.30 |
01:13 |
| SILVER FUTURE (USD/t oz.) |
17.000 |
-0.064
|
-0.38
|
01:13 |
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Metal Prices
Date: March 3, 2010; Source: Kitco.com
| Silver |
16.96 |
+0.03 |
| Platinum |
1571.00 |
+4.00
|
| Palladium |
444.00 |
+4.00
|
| Rhodium |
2,430 |
0.00
|
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Exchange rates
Date: March 3, 2010; Source: the National Bank of Kazakhstan
| 1 USD |
KZT 147.36 |
1 CHF |
KZT 135.83 |
1 CNY |
KZT 21.59 |
1 TRY |
KZT 95.81 |
10 JPY |
KZT 1.65 |
| 1 EUR |
KZT 198.71 |
1 AUD |
KZT 132.45 |
1 KGS |
KZT 3.30 |
1 UZS |
KZT 0.10 |
|
|
| 1 GBP |
KZT 219.60 |
1 CAD |
KZT 141.54 |
1 RUB |
KZT 4.91 |
100 KRW |
KZT 12.80 |
|
|
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