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News: Monday, July 10, 2017 -- Issue 2775 http://www.newsline.kz/rss/

Article of the Day

Halyk Bank acquired 96.81% of Kazkom’s ordinary shares
    Halyk Bank of Kazakhstan JSC has completed the acquisition of 96.81% of ordinary shares of Kazkommertsbank JSC, Kazpravda.kz reports with reference to Halyk Bank’s press service.
    "JSC Halyk Bank hereby announces the completion of transactions for acquisition of 96.81% of ordinary shares in JSC Kazkommertsbank, including 86.09% from Mr K.Kh. Rakishev and 10.72% from joint stock company Sovereign Wealth Fund "Samruk-Kazyna", in accordance with the sale and purchase agreements entered into force on 15 June 2017, " says the press release published on the official website of the Halyk Bank.
    According to the press service, the transactions were completed following satisfaction by the parties of certain conditions precedent, including:
    - completion of due diligence by Halyk Bank and the National Bank of the Republic of Kazakhstan ("National Bank");
    - acquisition by Mr. Rakishev of shares in Kazkommertsbank from Mr. N.S. Subkhanberdin and JSC Central Asian Investment Company;
    - full repayment of the loan by BTA Bank to Kazkommertsbank;
    - receipt of customary approvals from the relevant regulatory bodies in Kazakhstan and other applicable jurisdictions;
    - repayment by Kazkommertsbank of 41 billion tenge owed to Samruk-Kazyna for the shares in JSC BTA Bank under the 2014 transaction.
    As announced earlier, Halyk Bank is planning to recapitalize Kazkommertsbank for a total of KZT 185 billion, which will bring Kazkommertsbank's capital adequacy ratio in line with those maintained by domestic peers.
    "Successful completion of the deal to acquire one of Kazakhstan's largest financial institutions, with its extensive branch network, large volume of client transactions, and presence in a number of foreign jurisdictions, has been a result of a concerted effort of Halyk Bank's team and its advisors. Involvement of multiple parties, including the state, as represented by the National Bank of Kazakhstan, the Ministry of Finance, and Samruk-Kazyna, provides further testament to the scale of the transaction. In particular, I would like to highlight Halyk Bank's unprecedented focus on organizing comprehensive due diligence of Kazkommertsbank, to ensure successful completion of the deal, " Umut Shayakhmetova, Chairperson of the Management Board of Halyk Bank commented, adding that they would do their best to sustain and enhance the quality of client service, continue to advance the bank's information technologies, restore customer lending and retain Kazkommertsbank's professional staff.
    Reported by Alexander Kononets for the Kazakhstanskaya Pravda.

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Kazakhstan General

New meeting in Astana on Syria to be held in late August
    Russia, Turkey and Iran have decided to hold the next international meeting in Astana on the settlement in Syria during the last week of August, Kazakhstan’s ...
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Astana explains why Kazakhstan has no plans to send servicemen to Syria
    Zhainakov commented on remarks by head of the Russian delegation at Astana talks Alexander Lavrentyev who said earlier in the day that Moscow would welcome Kazakhstan's ...
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US pressures allies not to attend nuke ban treaty forum
    The United States has urged its allies to skip a forum to discuss the implications of a landmark nuclear weapons ban treaty that is expected to ...
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Expo-2017

UN opens EXPO 2017 pavilion during UN Day celebrations
    The United Nations opened its EXPO 2017 pavilion during the expo’s recent UN Day celebrations. Kazakhstan was named in January a non-permanent member of the UN ...
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EXPO 2017 features nightly music, laser shows and dancing
    EXPO 2017 features nightly music, laser shows and dancing featuring more than 150 performers.
    All of the artists are local and were chosen during a casting call ...
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Expo 2017: Signagelive provides software in Kazakhstan
    Signagelive provided the software used in the light/image sphere at the World Expo 2017 in Kazakhstan Signagelive worked with Peter Grinwis AVDIS BV who partnered with ...
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Oil and Gas Sector

KMG ends hunt for partner at Abay block
    Kazakhstan’s national oil company (NOC), KazMunaiGas (KMG), has ended its one month-long search for a partner at the Abay block in the Caspian Sea, Newsbase reports.
    At ...
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ATR grows upstream support capability in Kazakhstan
    ATR has opened a new base in Kazakhstan. This will initially employ 12 new personnel, 10 locals, with plans to double the size of the team ...
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Hungary & Gazprom agree on gas supplies via Turkish Stream
    Russian energy major Gazprom has signed an agreement with Hungary to deliver gas (including much of the gas produced in Kazakhstan) via the Turkish Stream pipeline, ...
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Does Chevron offer a good energy exposure to passive investors?
    Chevron (CVX ) is one of the biggest oil companies in the world and is part of the Dow Jones Industrial Average and the S&P 100.
    It’s ...
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Urals crude differentials were unchanged on Thursday
    Urals crude differentials were unchanged on Thursday after rising to a two year high earlier in the week due to strong refinery margins, clearing Urals cargoes ...
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Oil prices drop 3 percent on rising global supplies
    Oil prices fell by more than 1 percent on Friday, with U.S. crude futures dipping below $45 per barrel as news of a rise in U.S. ...
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Finance and Investment

Samruk Kazyna ranks among world’s most transparent sovereign wealth funds
    Samruk Kazyna Sovereign Wealth Fund is one of the world’s 20 most transparent sovereign wealth funds, according to the U.S.-based Sovereign Wealth Fund Institute, a global ...
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Chinese boost for Kazakhstan’s new stock exchange
    Kazakhstan’s new stock exchange will play an important role in China’s attempts to expand into nearby capital markets, but is likely to struggle to attract liquidity ...
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TWINO becomes Europe’s first P2P lender to Kazakhstan
    TWINO has started offering Kazakhstan-based loans to investors, becoming the first European lending platform to offer peer-to-peer investment in the Central European country.
    The short-term consumer loans ...
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Metals and Minerals

Polymetal to launch development of the Svetloye gold ore deposit on July 13
    July 13, Polymetal will hold a ceremony to commission the Svetloye gold deposit in the Okhotsk district of the Khabarovsk region, the press centre of the ...
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Central Asia Metals in line to achieve full-year production forecasts
    Central Asia Metals PLC said on Wednesday copper production and cathode sales were up in the first six months of the year, and said it was ...
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Russia may forfeit half of its coal handling due to pollution issues
    Russia’s State Duma MPs have proposed banning the open handling of coal in populated areas starting from this November in a move to protect the environment ...
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The zinc funds-fundamentals pendulum has swung again
    Back in May funds were beating a collective retreat from the London zinc market after a second failed attempt at the big-number $3,000-per tonne resistance level. ...
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Gold at four-month low as U.S. jobs rise makes rate hike likely
    Gold steadied on Thursday off the previous day's two-month low after weaker than expected private sector payrolls data fed into a more cautious view on the ...
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Coal markets brace for China reaction after prices near 600 yuan threshold
    A prolonged heatwave across northern China, hydropower cuts in the south, a fresh crackdown on mine safety and imports curbs have triggered a weeks-long rally in ...
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Uranium prices: market remains fragile, but RBC sees upside a few years away
    Uranium prices have been range bound for weeks, with TradeTech’s spot uranium indicator finding it difficult to stay above $20 per lb. It now seems that ...
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Trade and Consumer Goods

Trade and remittances lay ground for economic recovery in EDB countries — report
    The economic trends improved in Q2 2017 in the member countries of Eurasian Development Bank (EDB) — Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. This development ...
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Rainfalls may put off the start of harvesting in South Kazakhstan
    The winter wheat cultivation areas in the south and south-east of Kazakhstan enjoyed favorable conditions for flowering and full ripening of grain between June 10-20. Rainfalls ...
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Iran resumed sunseed imports from Kazakhstan
    In May 2017, Kazakh sunseed exports hit a new high for this month: 21.6 KMT. At the same time, they decreased 12.5% from April 2017.
    The export ...
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Kazakhstan increased exports of sunflower oil by 2,5 times
    In May of this year from Kazakhstan to foreign markets was delivered 3.1 million tonnes of sunflower oil, which is 9.5% less compared to the previous ...
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Islamic Organisation for Food Security Kazakh office to open by end of year
    The office of the Islamic Organisation for Food Security will open in Astana by the end of the year, Kazakh Vice Minister of National Economy Yernar ...
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Kazakhstan to create a lab to test quality of meat exported to China
    In Astana, the Second meeting of the Alliance of Agricultural Education and Scientific Innovations of the Silk Road was held, which took two days, Kazpravda.kz reports.
    The ...
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Grain prices rise at quickest in 3 years - despite 'abundant' supplies
    The United Nations underlined the "ample" availability of wheat supplies, pegging stocks at a record high, even as it cut its world production forecast - and ...
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Cotton prices to fall next season to nine-year low, says ICAC
    Cotton prices will tumble next season to the lowest in nine years, the International Cotton Advisory Committee said, flagging the prospect of stocks of the fibre ...
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Agriculture misses out on private capital investment boom
    The cautious attitude among hedge funds towards agriculture for much of 2017 appears alive in the private capital market too, with investment vehicles focused on the ...
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Spring wheat futures revive, helping other ags
    Spring wheat futures returned to winning ways, with corn and soybean futures trading higher too, as weather forecasts turned drier for major US growing areas, and ...
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PVC imports into Kazakhstan rise 8% in January-May
    Imports of unmixed polyvinyl chloride (PVC) into Kazakhstan slightly exceeded 18,000 tonnes in January-May 2017, up 8% compared with the same time a year earlier, according ...
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Communications and Transportation

Kcell receives tax claim for 2012 to 2015 period
    Kcell Joint Stock Company (“Kcell” or the “Company”) (LSE, KASE: KCEL), the leading provider of mobile telecommunications services in Kazakhstan by market share in terms of ...
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Minister proposes extending Astana’s open skies regime
    Kazakh Minister for Investments and Development Zhenis Kassymbek has proposed extending the open skies regime to next year to attract more foreign tourists to the capital.
    “The ...
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Kazakh government approves tourism development concept
    Kazakhstan’s government approved June 27 a Concept of Tourism Development until 2023, which incorporates international best practices in state support of tourism and reconfigures some established ...
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Megacom launches new roaming offer
    Kyrgyzstan mobile operator Megacom has launched a new series of roaming packages ‚ called '+996', for subscribers roaming in Russia and Kazakhstan. Calls for low rates ...
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Sports

Silk Way Rally ready to dash off
    The 2017 Silk Way Rally is about to set off from Moscow’s Red Square – on the start of a breathtaking adventure of nearly 10,000 kilometres ...
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Regional News

Putin-Trump first meeting round-up
    The conversation between Russian and US Presidents Vladimir Putin and Donald Trump was very specific, Russian Foreign Minister Sergey Lavrov said following the meeting between the ...
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New rules may block Russian firms’ access to foreign satellites
    Russia’s Radio Frequency Service headed by Communications and Mass Media Minister Nikolay Nikiforov has permitted Russian companies to lease capacities of foreign satellite that "have been ...
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Agriculture Ministry to promote Russian products abroad
    In a move to advertise traditional Russian products with an emphasis on their origin of locality, such as Vologoda butter, Bashkir honey, Altai cheese and Krasnodar ...
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Russia setting its sights on production overseas
    Russia’s Deputy Trade and Industry Minister Gleb Nikitin said that he is currently pushing forward with an intensive policy of exporting production, according to his interview ...
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Russia, China to resume cooperation on Afghanistan
    Moscow and Beijing will carry on the work of a special contact group, the Shanghai Cooperation Organization-Afghanistan, which was halted in 2009. The agreement was struck ...
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China’s economic growth set to reach 6.8 to 6.9%
    China's economic growth could reach 6.8 or 6.9 percent in the first half of this year, a senior national statistics bureau official said on Wednesday.
    "China is ...
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China tops the world in employment performance: report
    China outperformed other countries in employment, a major factor in the country's rising competitiveness rating, which has risen to 18 this year, according to the latest ...
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Airbus signs deal to sell 140 planes to China
    Airbus has signed an agreement to sell 140 planes to China, in a deal worth $22.8 billion.
    The agreement was signed during a visit by Chinese President ...
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BRICS New Development Bank involved in Russian infrastructure projects
    The head of the New Development Bank (NDB), which funds infrastructure projects within the BRICS bloc of developing nations, says it's participating in two Russian projects ...
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Kyrgyzstan starts exporting electricity to Uzbekistan for 2 cents per 1 kWh
    Kyrgyzstan began to export electricity to Uzbekistan from June 16, 2017 in accordance with the relevant agreement between the energy companies signed on June 15, 2017, ...
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Uzbek banks to provide information on accounts of US citizens to IRS
    Commercial banks of Uzbekistan will now to provide information on accounts of the US citizens to the US Internal Revenue Service (IRS).
    On 5 July 2017, ...
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ADB and InFin Bank sign trade finance deal in Uzbekistan
    The Asian Development Bank (ADB) and Uzbekistan’s Invest Finance Bank (InFin Bank) on July 5 signed an agreement enabling cooperation to support trade in Uzbekistan through ...
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Prices and Statistics

Commodities
    

Date: July 10, 2017; Source: Bloomberg.com

Energy

Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/bbl. 43.84 -0.39 -0.88% Aug 2017 5:29 AM
USD/bbl. 46.32 -0.39 -0.83% Sep 2017 5:29 AM
USd/gal. 148.32 -1.52 -1.01% Aug 2017 5:29 AM
USD/MMBtu 2.89 +0.03 +0.94% Aug 2017 5:29 AM
USd/gal. 144.05 -0.77 -0.53% Aug 2017 5:29 AM
 
Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/t oz. 1,206.40 -3.30 -0.27% Aug 2017 5:29 AM
USD/t oz. 1,207.48 -4.98 -0.41% N/A 5:39 AM
USD/t oz. 15.24 -0.19 -1.23% Sep 2017 5:29 AM
USd/lb. 264.10 -0.60 -0.23% Sep 2017 5:29 AM
USD/t oz. 900.72 -6.34 -0.70% N/A 5:39 AM
Index Units Price Change %Change Contract Time (EDT) 2 Day
USd/bu. 399.50 +7.00 +1.78% Sep 2017 5:28 AM
USd/bu. 551.25 +16.25 +3.04% Sep 2017 5:28 AM
USD/MT 1,867.00 -5.00 -0.27% Sep 2017 5:28 AM
USd/lb. 68.41 -0.18 -0.26% Dec 2017 5:22 AM
USd/lb. 114.78 -0.17 -0.15% Aug 2017 7/7/2017
 

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Exchange Rates
    

Date: July 10, 2017; Source: the National Bank of Kazakhstan

1 AUSTRALIAN DOLLAR AUD / KZT 245.94    
1 AZERBAIJAN MANAT AZN / KZT 193.98    
10 ARMENIAN DRAM AMD / KZT 6.76    
1 BELARUS ROUBLE BYN / KZT 165.11    
1 BRAZILIAN REAL BRL / KZT 97.88    
10 HUNGARIAN FORINTS HUF / KZT 11.9    
1 HONG KONG DOLLAR HKD / KZT 41.5    
1 GEORGIAN LARI GEL / KZT 135.65    
1 DANISH KRONA DKK / KZT 49.33    
1 UAE DIRHAM AED / KZT 88.2    
1 US DOLLAR USD / KZT 323.94    
1 EURO EUR / KZT 366.8    
1 INDIAN RUPEE INR / KZT 5    
1000 IRANIAN RIAL IRR / KZT 9.95    
1 CANADIAN DOLLAR CAD / KZT 250.07    
1 CHINESE YUAN CNY / KZT 47.64    
1 KUWAIT DINAR KWD / KZT 1068.76    
1 KYRGYZIAN SOM KGS / KZT 4.68    
1 MALAYSIAN RINGGIT MYR / KZT 75.42    
1 MEXICAN PESO MXN / KZT 17.67    
1 MOLDAVIAN LEY MDL / KZT 17.94    
1 NORWEGIAN KRONA NOK / KZT 38.54    
1 POLISH ZLOTY PLN / KZT 86.41    
1 SAUDI RIYAL SAR / KZT 86.38    
1 RUSSIAN ROUBLE RUB / KZT 5.4    
1 SDR XDR / KZT 449.89    
1 SINGAPORE DOLLAR SGD / KZT 234.25    
1 TAJIKISTAN SOMONI TJS / KZT 37.09    
1 THAI BAHT THB / KZT 9.52    
1 TURKISH LIRA TRY / KZT 90.23    
100 UZBEKISTAN SUM UZS / KZT 8.2    
1 UKRAINIAN GRIVNA UAH / KZT 12.42    
1 GREAT BRITAIN POUND GBP / KZT 418.3    
1 CRECH KORUNA CZK / KZT 14.05    
1 SWEDISH KRONA SEK / KZT 38.01    
1 SWISS FRANC CHF / KZT 334.75    
1 SOUTH AFRICAN RAND ZAR / KZT 24.33    
100 SOUTH KOREAN WON KRW / KZT 28.1    
1 JAPANESE YEN JPY / KZT 2.85    

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