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News: Monday, May 28, 2012 -- Issue 1525 http://www.newsline.kz/rss/

Article of the Day

Kazakhstan warns on social sites
    Nursultan Nazarbayev, the president of Kazakhstan, has criticised social-media outlets that have played a big role in the Arab Spring.
    "New global communications should not be used for provocation or the destruction of morals in states that have fallen out of favor," he said.
    The 71-year-old president, who has run Kazakhstan since it broke away from the Soviet Union in 1991, said there should be "mandatory principles for world order, and the first one should be evolution, not revolution. You have got to preserve the global architecture.
    "The Arab Spring shows how revolution can put the brakes on the social and economic development of countries in the Middle East."
    In a wide-ranging speech at the first plenary session of the Astana Economic Forum yesterday, Nazarbayev also outlined his country's future economic policy, aiming at further diversifying away from dependence on oil and other natural resources."There is a need for more justice in the global economy," he said. "The exploitation of natural resources in the Third World is immoral."
    He estimated foreign direct investment had injected a total of US$150 billion (Dh550.98bn) into his country's economy, and he appealed to foreign investors for further assistance in helping Kazakhstan to industrialize more rapidly.
    He also wants Kazakhstan to be at the heart of Asian development in a "new silk road" linking China and Europe.
    Kazakhstan already has a customs union with Russia and Belarus, and Mr Nazarbayev said he would like to see the creation of a Eurasian economic union by 2015.
    Kazakh policymakers had put in place a crisis management plan, he said, based on further global financial instability and scenarios for a fall in oil prices by as much as $50 per barrel.
    "I believe we are still on the first wave of the financial crisis," he said. "We have $86bn in foreign reserves and sovereign wealth funds, so we are in a good position to manage any crisis," according to the National.

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Kazakhstan General

Sri Lanka, Kazakhstan sign MoU to enhance bilateral cooperation
    Lanka and Kazakhstan have signed a Memorandum of Understanding (MoU) to expand the bilateral relations between the two countries and hold regular consultations between the respective ...
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Corruption probes launched into Duke of York's £15m home deal
    By Vanessa Allen
    The sale of the Duke of York's martial home is being examined by two international money-laundering investigations, it has been claimed
    A controversial deal in ...
     Full text available for subscribed users...

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Oil and Gas Sector

KazTransGas-Almaty to spend over KZT 2 billion for gasification
    This year, it is planned to spend over 2 billion tenge to gasify several districts of the Almaty region. The commissioning of 170 kilometers of medium ...
     Full text available for subscribed users...

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Pertamina Looks to Kazakhstan In an Effort to Increase Production
    Pertamina, Indonesia’s state oil and gas company, is exploring opportunities to acquire oil and gas blocks in Central Asia as it looks to increase production and ...
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Oil rises above $91 in Asia as Greek polls suggest pro-austerity parties may form government
    By Alex Kennedy
    Oil rose above $91 a barrel Monday in Asia as Greek polls suggested pro-austerity parties might win elections next month, raising the likelihood the ...
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Finance and Investment

Almaty to become a dream city for foreign businessmen
    President Nazarbayev has discussed the future of Almaty, during his trip to the region, Tengrinews.kz reports.
    “The work will be continued to create a modern transport infrastructure ...
     Full text available for subscribed users...

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E-tenge introduced
    Citing Eximbank of Kazakhstan, KazTAG has announced the bank is the first in the country to issued the new e-tenge electronic currency.
    Eximbank says its new ...
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Kazakhstan may limit borrowing by state firms
    By Agnes Lovasz and Nariman Gizitdinov
    Kazakhstan is planning to impose borrowing limits on state-run companies after the government of President Nursultan Nazarbayev brought its debt ...
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Metals and Minerals

Mexico, Kazakhstan, Ukraine bought gold in April
    Mexico, Kazakhstan and the Ukraine were active buyers in the gold market last month, while the Philippines' central bank lifted its gold reserves by more than ...
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Trade and Consumer Goods

Kazakhstan’s licensed film and music market to drop
    Due to the growth and penetration of Internet use in the count, experts predict a 15% decline in the sales of licensed audio and video products.
    Analysts ...
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Communications and Transportation

Almaty subway wins International Award
    The Almaty Subway system has been awarded The Golden Chariot International Public Transport Prize in the category of The Transport Project of the Year in the ...
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Pharmaceutical and Healthcare News

Health Ministry and pharma companies sign memo
    During the Vth Astana Economic Forum in Nazarbayev University on May 24 took place panel session titled, Pressing Problems of Medicine and Pharmaceutical Industry.
    Organizers were ...
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Regional News

Medvedev Appointed Chairman of United Russia
    By Alexander Bratersky
    Medvedev addresses delegates and guests at United Russia's 13th party congress, where he was formally elected the party's chairman.
    Prime Minister Dmitry Medvedev called for ...
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Prices and Statistics

Volume and Share Index by Visor Capital
    Date: May 28, 2012; Source: Visor Capital
Volume and Share Index

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Market Movers by Visor Capital
Date: May 28, 2012; Source: Visor Capital Market Movers

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Oil and Gas Prices
    Date: May 28, 2011; Source: Bloomberg.com
Petroleum ($/bbl)
Price* Change %Change Time
Nymex Crude Future

91.87

1.01

1.11

03:04
Dated Brent Spot 108.56 0.61

0.57

03:16
WTI Cushing Spot 90.66 0.25

0.28

05/25
Petroleum (cent/gal)
Price* Change %Change Time
Nymex Heating Oil Future

284.34

1.46

0.52

03:06

Nymex RBOB Gasoline Future

291.50

2.21 0.76 03:01
Natural gas ($/MMBtu)
Price* Change %Change Time
Nymex Henry Hub Future 2.49 -0.08 -2.92 03:05
Henry Hub Spot 2.57 -0.10 -3.75 05/25
New York City Gate Spot

2.75

-0.11

-3.85

05/25

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Commodities
    Date: May 28, 2012; Source: Bloomberg.com
Commodity Price Change %Change Time
COPPER FUTURE (USd/lb.) 349.300 4.500 1.31 03:00
GOLD 100 OZ FUTR (USD/t oz.)

1,583.800

12.600

0.80

02:59
SILVER FUTURE (USD/t oz.) 28.710

0.324

1.14

02:59

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Metal Prices
    Date: May 28, 2012; Source: Kitco.com
Silver 28.63 +0.10
Platinum

1437.00

+9.00

Palladium

592.00

+2.00

Rhodium 1,275.00

0.00

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Exchange rates
    Date: May 28, 2012; Source: the National Bank of Kazakhstan
1 USD KZT 147.62 1 CHF KZT 154.62 1 CNY KZT 23.27 1 TRY KZT 80.23 10 JPY KZT 1.85
1 EUR KZT 185.79 1 AUD KZT 144.40 1 KGS KZT 3.12 1 UZS KZT 0.08 1 BYR KZT 0.02
1 GBP KZT 231.23 1 CAD KZT 143.96 1 RUB KZT 4.64 1 KRW KZT 12.45 1 UAH KZT 18.38

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