News: Thursday, July 15, 2010 
Article of the Day
Banks’ Overseas Debt is Half of Peak Figure
By Daniyar Sikhimbayev
The banking sector has halved its international debt from $46 billion at the height of the financial crisis in 2008 to $23 billion today, the head of the central bank said.
Grigory Marchenko said banks’ cumulative foreign assets are $22 billion, just a shade below their combined foreign debt.
When two banks that defaulted in 2009 complete their restructurings this year, the banking sector’s overseas assets will exceed its international debt, Marchenko said, kazinform.kz reported.
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Kazakhstan General
Kazakhstan leads Way in Managerial Hiring
Seventy-four percent of Kazakhstan companies are looking for middle and senior managers, the highest percentage in a survey of 55 countries.
The executive-search firm Antal, which looked
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Water-supply Improvement Funds allocated
The government will spend 90 billion tenge through 2020 to provide residents with drinkable water, according to Kuandyk Bishimbaev, a deputy minister of Economic Development and
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Unemployment Rate in June is 5.7 Percent
The Statistics Agency of Kazakhstan reports an unemployment rate of 5.7 percent in June, down from the 6.1 percent that the World Factbook said the country
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Baikonur Veteran to get Space Burial
By Alexey Eremenko
Vitaly Fyodorov, who devoted 44 years of his life to space launches from Kazakhstan’s Baikonur Cosmodrome will become the first Russian to have his
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Nazarbayev: A Eurasian on His Way to Europe
Commentary by Hélène Carrère d’Encausse
No one is born a politician. A person becomes one.
Yes, it’s an axiom.
But the conventional wisdom that goes against that axiom
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Oil and Gas Sector
Export Tax imposed on Refined Oil Products, Too
Kazakhstan is imposing an export tax on refined petroleum products in addition to crude oil.
The government announced this week that it would slap a duty on
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Austrian Oil Firm may leave Russia for Kazakhstan
Austria’s oil and gas company Petrom is considering selling its Russian operations to focus on Kazakhstan.
Selling the Russian assets will depend on whether it has enough
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Zhaikmunai Gas Facility’s Start-up set for Fall
Zhaikmunai plans to begin operating its new gas treatment facility near Uralsk by September 30.
The company said it expects gas and condensate production to reach capacity
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Energy Industry
Kazakhstan to buy Kyrgyz Power
Five Kazakhstan power companies will buy $56.9 million worth of electricity from Kyrgyzstan this year, according to the Kyrgyz news agency eng.24.kg.
Temirzholenergo, Energopotok, Ontustik Zharyk, GES-Energo
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Finance and Investment
How the Turks Helped Kazakhstan – and Prospered
By Simon Cameron-Moore
Turkish leaders’ efforts to cultivate diplomatic relations outside the West have led to market openings in Kazakhstan and elsewhere that have benefited Turkey’s business
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Alliance Restructuring helps Kazakhstan Debt Picture
Alliance Bank’s restructuring of its international debt has reduced Kazakhstan’s total external debt from 114.5 billion to 110 billion, according to central bank Governor Grigory Marchenko.
Alliance’s
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Kazakhstan Business Delegation is in Kyrgyzstan
By Julia Mazykina
A Kazakhstan business delegation is looking at investment possibilities in Kyrgyzstan.
The 20-person delegation, which includes governors of a number of oblasts and representatives of
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Metals and Minerals
Even with Kazakhstan’s Reserves, Uranium Price to rise
One of the best investments a commodities fan can make at the moment is uranium, according to dailyreckoning.com.
The bottom line is that the uranium supply trails
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Trade and Consumer Goods
Government to help Domestic Drug Makers
By Damir Baimanov
The government has approved a plan under which Kazakhstan companies will make half the pharmaceuticals used domestically by 2014, according to Deputy Minister of
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Children pick Tobacco in Kazakhstan, Report says
By Andrew Clark
Human Rights Watch says children as young as 10 in Kazakhstan are picking tobacco for Philip Morris International, according to Britain’s Guardian newspaper.
The manufacturer
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Regional Business News
Kremlin replacing Powerful Regional Leaders
By Ellen Barry
One of Russia’s last remaining regional strongmen will retire at the end of his term next year.
The retirement of Murtaza G. Rakhimov is part
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Russian Farmers seek Billions in Loans
By Courtney Weaver
Russian farmers have asked government for $1.3 billion in loans to fight the country’s worst drought in 130 years, the Financial Times reports.
Fourteen
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Russia aims to Prevent Slaughter of Cattle
Russia’s government will take steps to prevent cattle breeders from slaughtering livestock as a worsening drought cuts into feed supplies.
Prime Minister Vladimir Putin ordered proposals drawn
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Wheat Prices fall Because Global Supply Still Strong
Wheat futures declined for a third day in four sessions in Chicago on speculation that abundant global supply will make up for losses in Russia.
September delivery
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Clunker-scrapping Subsidies bring Profit at Lada Maker
Russia's leading auto maker returned to profitability in the second quarter thanks to government subsidies to those wanting to replace old cars.
Avtovaz made 1 billion rubles
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Russia, China plan Heavy-lift Helicopter
Russia and China will jointly design and manufacture a new heavy-lift helicopter, according to Deputy Industry Minister Denis Manturov.
“The project will be commercial” rather than military
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Russian Official urges Siestas During Heat
Russia’s public-health chief has urged companies to adopt a siesta regime for workers struggling to cope with a record heat wave.
“Employers should consider moving shifts to
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Prices and Statistics
Volume and Share Index by Visor Capital
Date: July 15, 2010; Source: Visor Capital
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Market Movers by Visor Capital
Date: July 15, 2010; Source: Visor Capital
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Oil and Gas Prices
Date: July 15, 2010; Source: Bloomberg.com
| Petroleum
($/bbl) |
|
Price* |
Change |
%Change |
Time |
| Nymex Crude Future |
76.65
|
-.39
|
-.51
|
02:57 |
| Dated Brent Spot |
75.32 |
-.21 |
-.28 |
03:08 |
| WTI Cushing Spot |
77.04 |
-.11 |
-.14
|
07/14 |
| Petroleum
(cent/gal) |
|
Price* |
Change |
%Change |
Time |
| Nymex Heating Oil Future |
202.47
|
-1.14
|
-.56 |
02:54
|
| Nymex RBOB Gasoline Future |
205.81
|
-.84 |
-.41 |
02:33 |
| Natural gas
($/MMBtu) |
|
Price* |
Change |
%Change |
Time |
| Nymex Henry Hub Future |
4.32 |
.01 |
.28 |
02:57 |
| Henry Hub Spot |
4.41 |
-.07 |
-1.56 |
07/14 |
| New York City Gate Spot |
4.90 |
-.05
|
-1.01 |
07/14
|
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Commodities
Date: July 15, 2010; Source: Bloomberg.com
| Commodity |
Price |
Change |
%Change |
Time |
| COPPER FUTURE (USd/lb.) |
300.800 |
-0.050 |
-0.02 |
02:59 |
| GOLD 100 OZ FUTR (USD/t oz.) |
1210.000 |
3.000
|
0.25 |
02:59 |
| SILVER FUTURE (USD/t oz.) |
18.295 |
0.005
|
0.03
|
02:58 |
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Metal Prices
Date: July 15, 2010; Source: Kitco.com
| Silver |
18.29 |
+0.01 |
| Platinum |
1522.00 |
+1.00
|
| Palladium |
466.00 |
+2.00
|
| Rhodium |
2,350.00 |
0.00
|
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Exchange rates
Date: July 15, 2010; Source: the National Bank of Kazakhstan
| 1 USD |
KZT 147.73 |
1 CHF |
KZT 139.58 |
1 CNY |
KZT 21.80 |
1 TRY |
KZT 95.82 |
10 JPY |
KZT 1.66 |
| 1 EUR |
KZT 187.82 |
1 AUD |
KZT 130.46 |
1 KGS |
KZT 3.23 |
1 UZS |
KZT 0.09 |
|
|
| 1 GBP |
KZT 225.30 |
1 CAD |
KZT 143.16 |
1 RUB |
KZT 4.83 |
100 KRW |
KZT 12.29 |
|
|
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