News: Thursday, March 04, 2010 
Article of the Day
National Bank may raise Key Rate in 2010
Kazakhstan's central bank said on Wednesday it may raise its key refinancing rate by one percentage point to 8.0 percent this year if oil prices average $70 per barrel.
"Inflationary pressure is unlikely to subside in 2010 due to certain risks," the bank said in a statement, adding those risks stemmed from planned increases in public sector wages as well as higher import duties.
Oil-rich Kazakhstan sees 2010 inflation at 6.0-8.0 percent after consumer prices rose by 6.2 percent last year.
Current account deficit will be 4 percent of gross domestic product if the average oil price is $50 per barrel, and 1 percent of GDP at $70 per barrel, the central bank said, identifying those two scenarios as most likely.
The Central Asian state reduced interest rates throughout last year as its economy briefly slipped into recession. But the government the economy to grow by 2.0 percent this year, up from 1.2 percent in 2009, according to Reuters
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Kazakhstan General
Kazakh Writer Receives German Award
Prominent writer Gerold (Herold) Belger of Kazakhstan has received Germany's Order of Merit award, RFE/RL's Kazakh Service reports.
Belger, 75, is a Kazakh citizen of German
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Oil and Gas Sector
Astana seeks Oil Transit Options
Kazakhstan needs new oil transit routes to handle the expected increase in production from the giant offshore Kashagan field, the Kazak president said.
President Nursultan Nazarbayev said
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President Nazarbayev proposes New Oil Pipeline between Caspian and Black Seas
President Nursultan Nazarbayev has proposed building a new oil pipeline between the Caspian and Black seas, which would be linked to the Konstanta-Triest Pan-European oil pipeline.
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Investment Drop for Oil and Gas Fields could Increase Price for Energy Carriers
Commentary
According to Fatikh Birol, Senior Economist at the International Energy Agency, oil prices may hit $150 per barrel and higher.
A considerable price increase may hit
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Caspian Security to be discussed in Baku
There are plans to hold the next meeting at the level of deputy foreign ministers of the Caspian countries in Baku on March 11-12, Deputy Foreign
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Nazarbayev - Kazakhstan ready for Cooperation with Romania, Energy Sector included
President of Kazakhstan, Nursultan Nazarbayev, declared on Tuesday, at the beginning of talks in Astana with President Traian Basescu, that his country is ready for multi-level
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Med Crude-Weak Urals Differentials seen back to Normal
Urals deals were done in northern and southern Russian ports on Tuesday, level in the Black Sea with the last deal heard and slightly stronger in
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Energy Industry
Kazakhstan signs Cooperation Deal with Japan
Japan and Kazakhstan have signed an agreement to cooperate in the peaceful uses of nuclear power.
Meanwhile, Romania's president has said the country is open to
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Romania seeks Cooperation
Meanwhile, Romanian President Traian Basescu has said that Romania could be a partner in the industrial development of Kazakhstan.
"Categorically, both countries need to develop their bilateral
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CIS Economic Council to discuss Formation of Unified Electricity Energy Market
The CIS Economic Council will discuss the formation of a common electrical energy market of the Commonwealth, the Offical Spokesperson for the Ministry for Foreign Affairs
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Finance and Investment
Kazakhstan and China plan $15 Billion in Trade
Secretary of State - Kazakh Foreign Minister during his official visit, held talks with officials from China in Beijing, Foreign Ministry Spokesman Ilyas Omarov said.
"During the
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Astana Finance gets backing for Restructuring 2010-03-03
Astana Finance proposed restructuring of its financial indebtedness is being supported by the National Welfare Fund Samruk-Kazyna.
The fund also expressed its readiness to support the company
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Eurasian Development Bank and RUSNANO Plan to offer Joint Financing for Nanotechnology Projects
The Eurasian Development Bank (EDB) and the Russian Corporation of Nanotechnologies (RUSNANO) have signed a memorandum of cooperation, agreeing to coordinate economic processes and increase the
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Vladimir Putin meets Prime Minister Karim Masimov
Transcript
Transcript of the beginning of the meeting:
Vladimir Putin: I am very glad to see you, Mr Masimov. Yesterday I had an opportunity to speak with Kazakh
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Trade and Consumer Goods
Kazakhstani Companies wary of Import Costs, Russian Rivals
Kazakhstani companies are concerned about soaring import costs and stiffer competition from Russian rivals since the Central Asian country joined a customs union with Russia and
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Communications and Transportation
Majilis ratifies Agreement between Kazakhstan and Russia on Baikonur
The Majilis at a plenary session ratified the agreement between the Kazakhstan and Russia on the development of cooperation on the effective use of the Baikonur
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Regional Business News
Yukos vs Russia face-off in European Court
By Deborah Seward
Thousands of miles (kilometers) from the Siberian jail where its founder is imprisoned, officals from the ruined Russian oil giant Yukos and the Russian
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Checkpoint on Kyrgyz-Uzbek Border closed
Many people have relatives on both sides of the border
The Kara-Suu checkpoint on the border between Kyrgyzstan and Uzbekistan has been closed, RFE/RL's Kyrgyz Service reports.
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Turkmenistan sees 2010 Foreign Energy Investment up 46 Percent
By Marat Gurt, Olzhas Auyezov
Turkmenistan, Central Asia's largest gas producer, said on Tuesday it expected foreign energy investment, which is almost all under production sharing agreements
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Prices and Statistics
Volume and Share Index by Visor Capital
Date: March 4, 2010; Source: Visor Capital
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Market Movers by Visor Capital
Date: March 4, 2010; Source: Visor Capital
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Oil and Gas Prices
Date: March 4, 2010; Source: Bloomberg.com
| Petroleum
($/bbl) |
|
Price* |
Change |
%Change |
Time |
| Nymex Crude Future |
80.25
|
-.62
|
-.77
|
01:58 |
| Dated Brent Spot |
78.23 |
-.73 |
-.92 |
02:06 |
| WTI Cushing Spot |
80.87 |
1.19 |
1.49
|
03/03 |
| Petroleum
(cent/gal) |
|
Price* |
Change |
%Change |
Time |
| Nymex Heating Oil Future |
207.83
|
-1.54
|
-.74 |
01:56
|
| Nymex RBOB Gasoline Future |
223.50
|
-1.26 |
-.56 |
01:56 |
| Natural gas
($/MMBtu) |
|
Price* |
Change |
%Change |
Time |
| Nymex Henry Hub Future |
4.75 |
-.01 |
-.15 |
01:57 |
| Henry Hub Spot |
4.77 |
-.01 |
-.21 |
03/03 |
| New York City Gate Spot |
5.21 |
.01
|
.19 |
03/03
|
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Commodities
Date: March 4, 2010; Source: Bloomberg.com
| Commodity |
Price |
Change |
%Change |
Time |
| COPPER FUTURE (USd/lb.) |
339.750 |
-3.750 |
-1.09 |
02:14 |
| GOLD 100 OZ FUTR (USD/t oz.) |
1135.000 |
-8.300 |
-0.73 |
02:14 |
| SILVER FUTURE (USD/t oz.) |
17.100 |
-0.229
|
-1.32
|
02:14 |
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Metal Prices
Date: March 4, 2010; Source: Kitco.com
| Silver |
17.06 |
-0.13 |
| Platinum |
1567.00 |
-10.00
|
| Palladium |
446.00 |
-1.00
|
| Rhodium |
2,430 |
0.00
|
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Exchange rates
Date: March 4, 2010; Source: the National Bank of Kazakhstan
| 1 USD |
KZT 147.45 |
1 CHF |
KZT 137.50 |
1 CNY |
KZT 21.60 |
1 TRY |
KZT 95.63 |
10 JPY |
KZT 1.66 |
| 1 EUR |
KZT 201.08 |
1 AUD |
KZT 133.18 |
1 KGS |
KZT 3.30 |
1 UZS |
KZT 0.10 |
|
|
| 1 GBP |
KZT 221.16 |
1 CAD |
KZT 142.46 |
1 RUB |
KZT 4.94 |
100 KRW |
KZT 12.87 |
|
|
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