News: Tuesday, May 29, 2012 -- Issue 1526 
Article of the Day
Medvedev makes first foreign visit as Prime Minister
The extension of the Agreement on Friendship and Cooperation between Russia and Kazakhstan will be the key topic during the first visit of Dmitry Medvedev as Prime Minister. The two sides are also planning to discuss several amendments to the agreement which marked its 20th anniversary this year. For one, Kazakhstan suggests making several amendments linked to the creation of the Single Economic Space.
Kazakhstan is one of Russia’s strategic partners. This is the reason why Prime Minister Dmitry Medvedev will visit Astana, followed by President Vladimir Putin who will go there a week later. These visits should give impetus to joint investment projects of the two countries, says director of the Center for studying the former Soviet Republics, Alexei Grozin.
“There is no partner of Russia in Central Asia closer than Astana. Last year, bilateral trade volume between Russia and Kazakhstan reached a record level and exceeded 24 billion U.S. dollars. The overall trade volume between Russia and other Central Asian republics is far less than this sum. Why is Dmitry Medvedev to first to visit Kazakhstan? This is because Russia’s relations with Kazakhstan are being built on the basis of practical cooperation. There is less geo-politics but more economics, consequently, the Prime Minister has all the cards in his hands,” Alexei Grozin said.
Nevertheless, the key topic of the meetings in Astana will be the discussion of the necessary amendments, which will be included in the Friendship and Cooperation agreement between Russia and Kazakhstan signed on the 25th of May 1992. This agreement is the basis for cooperation between the two countries in many areas. Its 5th article guarantees mutual assistance in case of an attack by a third country. Neither Russia nor Kazakhstan has such bilateral agreements with other countries.
During his tour of Central Asia, Dmitry Medvedev will visit Ashkhabad, Turkmenistan where the Prime Ministers of the Commonwealth of Independent States will meet, the Voice of Russia said.
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Kazakhstan General
Kazakhstan seeks to crack down on smoking
By Olga Pavlovskaya
Almaty resident Aleksandr Magayev, 22, who started smoking eight years ago, hopes a Kazakh bill that would intensify the fight against smoking will help ...
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Caucasian Muslims spiritual leader to visit Astana
By D. Mukhtarov
The Caucasian Muslims Office (CMO) Chairman Sheikh-ul-Islam Haji Allahshukur Pashazade will pay a visit to Astana on May 29, the Azerbaijanian Embassy in Kazakhstan ...
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Oil and Gas Sector
Med crude-Kazakh CPC hits all-time low on weak naphtha
By Dmitry Zhdannikov
Kazakhstan's CPC Blend crude oil weakened to its all-time low on Monday due to very low naphtha prices and a glut of light ...
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Pertamina looks to Kazakhstan to up 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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Russian gas production to be profitable even after tax hikes - LUKoil
By Nadia Rodova
Gas production in Russia will remain economically viable even after a planned increase in gas taxes, Leonid Fedun, president of Russian oil company LUKoil ...
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Oil India eyes ConocoPhillips, Chesapeake stakes
By Rakesh Sharma
Oil India Ltd. said Monday it is in talks to buy stakes in ConocoPhillips's COP -0.06% oil sand assets in Canada, Chesapeake Energy ...
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Oil rises above $91 in Asia as traders eye Iran nuclear tensions
Oil prices rose slightly to above $91 a barrel Tuesday in Asia amid concerns that tensions over Iran’s nuclear program could escalate as sanctions tighten this ...
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Finance and Investment
Kazakhstan Kagazy announces improved terms for EBRD loan restructuring
Kazakhstan Kagazy JSC has agreed new and improved terms for its outstanding liabilities with the European Bank for Reconstruction and Development ("EBRD"), as the Group said ...
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On Heels of Customs Pact – Kazakhstan-Government Supported Investment
Road Show for Ajman Free Zone set for June 14 in Almaty
Kazakhstan and the United Arab Emirates customs authorities have recently signed a major bilateral trade ...
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Kazakhstan businessmen flock to American Chamber of Commerce
More and more Kazakh businessmen are trying to get a membership in the American Chamber of Commerce, AmCham Executive Director Doris Bradbury told Tengrinews.kz in an ...
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Metals and Minerals
Hambledon Mining announces negative 2011 results
Hambledon Mining yesterday announced its final 2011 results. A US$7.8m charge for leak of a tailings dam resulted in a 2011 loss from continuing operations of ...
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ABB wins $44 million gearless mill drive order in Kazakhstan
Three gearless mill drive systems to provide reliable, cost-effective ore extraction and processing for new copper mine
ABB has won an order worth $44 million to deliver ...
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Communications and Transportation
New PSC planned as MPs ask for cellular tariff reduction
Public Service Centres for motorists are to open this year as four pilot establishments are now being opened in Almaty, Astana, Aktau, and Karaganda.
They will register ...
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Real Estate
Monument of glorious history unveiled in Almaty Oblast
The Zhambyl district in the Almaty Oblast has unveiled a new monument to Baiteli Baba, a legendary personality of the 18th century.
The 18-meter monument has ...
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Pharmaceutical and Healthcare News
Kazakhstan implements cancer care program
Prime Minister of Kazakhstan Karim Massimov chaired a session of the government focused on the Program for oncologic service development in Kazakhstan for 2012-2016 today.
In ...
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Regional News
Kyrgyz opposition fails to mobilize public
Kyrgyzstan’s opposition has ended its series of anti-governmental rallies in the country's regions, claiming that it has tried to make the government respond to the needs ...
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Prices and Statistics
Volume and Share Index by Visor Capital
Date: May 29, 2012; Source: Visor Capital
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Market Movers by Visor Capital
Date: May 29, 2012; Source: Visor Capital
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Oil and Gas Prices
Date: May 29, 2012; Source: Bloomberg.com
| Petroleum
($/bbl) |
|
Price* |
Change |
%Change |
Time |
| Nymex Crude Future |
91.32
|
0.46
|
0.51
|
01:48 |
| Dated Brent Spot |
108.11 |
0.04 |
0.04
|
02:00 |
| WTI Cushing Spot |
90.66 |
0.25 |
0.28
|
05/25 |
| Petroleum
(cent/gal) |
|
Price* |
Change |
%Change |
Time |
| Nymex Heating Oil Future |
283.18
|
0.30
|
0.11 |
01:30
|
| Nymex RBOB Gasoline Future |
290.94
|
1.65 |
0.57 |
01:30 |
| Natural gas
($/MMBtu) |
|
Price* |
Change |
%Change |
Time |
| Nymex Henry Hub Future |
2.52. |
-0.05 |
-2.02 |
01:21 |
| 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 29, 2012; Source: Bloomberg.com
| Commodity |
Price |
Change |
%Change |
Time |
| COPPER FUTURE (USd/lb.) |
347.750 |
2.950 |
0.86 |
01:50 |
| GOLD 100 OZ FUTR (USD/t oz.) |
1,576.900
|
5.700
|
0.36
|
01:50 |
| SILVER FUTURE (USD/t oz.) |
28.465 |
0.079
|
0.28
|
01:49 |
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Metal Prices
Date: May 29, 2012; Source: Kitco.com
| Silver |
28.47 |
+0.04 |
| Platinum |
1432.00
|
-1.00
|
| Palladium |
604.00
|
+1.00
|
| Rhodium |
1,275.00 |
0.00
|
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Exchange Rates
Date: May 29, 2012; Source: the National Bank of Kazakhstan
| 1 USD |
KZT 148.02 |
1 CHF |
KZT 154.88 |
1 CNY |
KZT 23.33 |
1 TRY |
KZT 80.70 |
10 JPY |
KZT 1.86 |
| 1 EUR |
KZT 186.18 |
1 AUD |
KZT 145.89 |
1 KGS |
KZT 3.13 |
1 UZS |
KZT 0.08 |
1 BYR |
KZT 0.02 |
| 1 GBP |
KZT 232.11 |
1 CAD |
KZT 144.54 |
1 RUB |
KZT 4.64 |
1 KRW |
KZT 12.49 |
1 UAH |
KZT 18.32 |
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