News: Wednesday, July 21, 2010 
Article of the Day
Bread-price Jump being investigated
The government is investigating whether price fixing is behind a recent jump in the price of flour and bread in South Kazakhstan and Zhambyl Oblasts.
Bakytbek Imanaliyev, deputy governor of Zhambyl Oblast, said bakeries in the region paid 27 tenge a kilogram for flour on June 10. The price spurted to 35 tenge on June 28 and 42 tenge on July 7.
The increases have led to the price of a loaf of bread costing 5 to 7 tenge more than in early June, Minister of Agriculture Akhylbek Kurishbayev said.
A special government antimonopoly agency known as the Competition Protection Agency is looking into the matter.
The government is also advising bakeries to buy flour from the state-owned Prod Corporation rather than from wholesalers. Prod Corporation purchases agricultural products in bulk, then resells them, according to Kazinform and caspionet.kz.
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Kazakhstan General
Foreign Minister attends Afghan Conference
Foreign Minister Kanat Saudabayev had one-on-one meetings Tuesday in Afghanistan with President Hamid Karzai, American Secretary of State Hillary Clinton, United Nations Secretary General Ban Ki
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Oil and Gas Sector
Chinese to Have a Hand in Half of Kazakhstan’s Oil Output
By Damir Mikhametov
China will have a hand in 50 percent or 40 million tons of Kazakhstan's oil production this year, according to government economists.
Joint ventures
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U.S. Ambassador shows Support for Karachaganak Group
Ambassador Richard Hoagland on Tuesday inserted himself into a dispute between the Kazakhstan government and the Karachaganak oil consortium, which includes America’s Chevron Corporation, Dow Jones
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Suit against BMB Munai can go forward
The Kazakhstan oil company BMB Munai has failed to win dismissal of a lawsuit that an American oil company filed against it in New York.
Sokol Holdings
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Tethys to resume drilling Kazakhstan Well
Canada’s Tethys Petroleum will resume drilling a well in western Kazakhstan that another company gave up on nine years ago, Tethys said in a press release.
Its
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Finance and Investment
Government cancels Eurobond Sale
The government of Kazakhstan has cancelled a plan to sell up to $750 million in Eurobonds to overseas investors after the International Bank for Reconstruction and
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Hedge-fund Guru to work for Kazakhstan Bank
One of London's most high-profile hedge fund managers has left his company for a Kazakhstani investment bank.
Turkish-born Cem Habib, who became a partner in Cheyne Capital
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Estonia opens Consulate, discusses Investments
Estonia has opened a consulate in Astana, Baltic-course.com reports.
The consulate will help pave the way for Estonian investments in Kazakhstan, the new consul general said.
In fact,
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Metals and Minerals
Kazakhstan Gold Miner plans Mongolia Project
London-based Ivanhoe Mines, which is developing the Kyzyl gold mine in Kazakhstan, will borrow $2 billion to develop a gold and copper mine at Oyu Tolgoi
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Gold Mining and Processing Complex renewed
The Tort Kudyk gold mining and processing operation in Pavlodar Oblast has completed a 1.29-billion-tenge modernization.
The reconstruction will increase the productivity of the processing operation eightfold,
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Trade and Consumer Goods
Police to lead convoys carrying perishables
Traffic police are helping convoys of trucks carrying fresh fruit and vegetables from southern Kazakhstan, Uzbekistan and Kyrgyzstan get to their destinations in northern Kazakhstan quicker.
Police
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No Import Duties for Aircraft Purchases
Kazakhstan’s purchases of foreign airplanes and spare parts will be exempt from import duties until July 1, 2014, under the new Customs Union regulations, the Russian
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Communications and Transportation
Russia to build Launch Site to rival Baikonur
By Gleb Bryanski
Russia will build an $810-million space launch site that will be a rival to Kazakhstan’s Baikonur.
The site at Korolyov in Russia’s Far East will
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Real Estate
Price of Building Materials rising
The price of construction materials is increasing, a sign that building is picking up again.
Aerated concrete that cost $70 and $80 a cubic meter last year
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Regional Business News
Russia may cut Bureaucracy 20%
By Ira Iosebashvili
Russia may begin reducing the number of government employees by next April, putting into action a plan to cut the bloated bureaucracy by
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Russian Economy rises 4% in First Half
Russia’s economy expanded by 4.2 percent in the first six months of 2010 as the country emerged from its biggest downturn in a decade.
Economic Development Minister
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Indonesian Airline to buy Russian Planes
The Russian plane maker Sukhoi will sell 30 of its Superjet 100 aircraft to Indonesia's Kartika for $951 million deal, the company said at the Farnborough
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Heat Wave keeps hammering Russia
A blistering heat wave has made life miserable for millions of Russians, few of whom have air conditioners.
Work in Moscow has slowed to a crawl, with
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Cyprus becomes Russian Haven
By Borzou Daragahi
The hottest video rental in the beach resort of Limassol, Cyprus, isn't a Hollywood blockbuster, but the Russian miniseries “Brigada.”
It’s about army buddies who
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Foot-and-mouth Disease strikes Russia
Russia is experiencing its first outbreak of foot-and-mouth disease since 2006 in an area near the Chinese border.
The virus infected 112 cattle and four pigs 12
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Georgian railway issues International Bond
The Georgian railway has become the country’s first corporate borrower to issue an international bond.
The $250-million five-year note was priced at $99.517, a figure that would
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Prices and Statistics
Volume and Share Index by Visor Capital
Date: July 21, 2010; Source: Visor Capital
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Market Movers by Visor Capital
Date: July 21, 2010; Source: Visor Capital
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Oil and Gas Prices
Date: July 21, 2010; Source: Bloomberg.com
| Petroleum
($/bbl) |
|
Price* |
Change |
%Change |
Time |
| Nymex Crude Future |
77.74
|
.16
|
.21
|
02:27 |
| Dated Brent Spot |
75.49 |
.08 |
.11 |
02:37 |
| WTI Cushing Spot |
77.44 |
.90 |
1.18
|
07/20 |
| Petroleum
(cent/gal) |
|
Price* |
Change |
%Change |
Time |
| Nymex Heating Oil Future |
203.09
|
.62
|
.31 |
02:20
|
| Nymex RBOB Gasoline Future |
208.57
|
.71 |
.34 |
02:22 |
| Natural gas
($/MMBtu) |
|
Price* |
Change |
%Change |
Time |
| Nymex Henry Hub Future |
4.60 |
.01 |
.24 |
02:27 |
| Henry Hub Spot |
4.59 |
.03 |
.66 |
07/20 |
| New York City Gate Spot |
5.04 |
.04
|
.80 |
07/20
|
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Commodities
Date: July 21, 2010; Source: Bloomberg.com
| Commodity |
Price |
Change |
%Change |
Time |
| COPPER FUTURE (USd/lb.) |
301.400 |
1.250 |
0.42 |
02:29 |
| GOLD 100 OZ FUTR (USD/t oz.) |
1189.200 |
-2.500
|
-0.21 |
02:29 |
| SILVER FUTURE (USD/t oz.) |
17.680 |
-0.013
|
-0.07
|
02:29 |
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Metal Prices
Date: July 21, 2010; Source: Kitco.com
| Silver |
17.65 |
-0.05 |
| Platinum |
1503.00 |
-12.00
|
| Palladium |
446.00 |
-5.00
|
| Rhodium |
2,130.00 |
0.00
|
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Exchange rates
Date: July 21, 2010; Source: the National Bank of Kazakhstan
| 1 USD |
KZT 147.54 |
1 CHF |
KZT 140.38 |
1 CNY |
KZT 21.77 |
1 TRY |
KZT 96.37 |
10 JPY |
KZT 1.70 |
| 1 EUR |
KZT 191.57 |
1 AUD |
KZT 129.73 |
1 KGS |
KZT 3.22 |
1 UZS |
KZT 0.09 |
|
|
| 1 GBP |
KZT 224.66 |
1 CAD |
KZT 140.33 |
1 RUB |
KZT 4.85 |
100 KRW |
KZT 12.23 |
|
|
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