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News: Tuesday, May 29, 2012 -- Issue 1526 http://www.newsline.kz/rss/

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 Russias 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 Russias 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 ...
     Full text available for subscribed users...

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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, Indonesias 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 Irans 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 ...
     Full text available for subscribed users...

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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
    Kyrgyzstans 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
Volume and Share Index

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Market Movers by Visor Capital
    Date: May 29, 2012; Source: Visor Capital Market Movers

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Oil and Gas Prices
    Date: May 29, 2012; Source: Bloomberg.com
Petroleum ($/bbl)
Price* Change %Change Time
Nymex Crude Future




Dated Brent Spot 108.11 0.04


WTI Cushing Spot 90.66 0.25


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





Nymex RBOB Gasoline Future


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





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    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.)




SILVER FUTURE (USD/t oz.) 28.465




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Metal Prices
    Date: May 29, 2012; Source: Kitco.com
Silver 28.47 +0.04






Rhodium 1,275.00


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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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