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News: Thursday, July 13, 2017 -- Issue 2778 http://www.newsline.kz/rss/

Article of the Day

Kazakh, German presidents discuss Putin and Trump's agreements, joint economic development
    Kazakh President Nursultan Nazarbayev and President of the Federal Republic of Germany Frank-Walter Steinmeier have exchanged their views on the talks between Russian and US leaders Vladimir Putin and Donald Trump at the G20 Summit in Hamburg. The German President announced this today after the talks within the framework of his official visit to Kazakhstan, Kazinform correspondent reports.
    "During our conversation, we were discussing in detail that we hope the agreement, just reached by President Putin and President Trump on the locally restricted ceasefire, cannot be the end of the consent of the Syrian conflict, but only the beginning so as to resolve this conflict and find the solution to this conflict," Frank-Walter Steinmeier said.
    Recall that discussing the Syrian conflict at the G20 meeting, Russia and the United States undertook a commitment to ensure the ceasefire compliance by all the groups there, as well as to provide humanitarian access and establish contacts between oppositionists in the region and the Monitoring Center, which is under establishment in the capital of Jordan.
    After holding talks with President of Kazakhstan Nursultan Nazarbayev, Federal President of Germany Frank-Walter Steinmeier has shared his ideas about the reforms underway in Kazakhstan, Kazinform correspondent reports.
    "Yesterday evening, when I had a conversation with representatives of political funds, I heard they are doing a good job here and find the working conditions to be good. Moreover, our proposals, as from consultants for improving the rule-of-law state, sit well. Indeed, the changes in the Kazakh constitution have been made. You did what is not taken for granted. You have given part of the powers to the Parliament and the Government. I daresay we would like to see that the path of opening towards Europe and the expansion of the rule of law, initiated by you, as well as the reforms under implementation here in Kazakhstan will be continued," the German President said addressing Nursultan Nazarbayev in a joint statement.
    He emphasized that for 25 years Kazakhstan has followed the policy driven by the principality of diplomacy and strived for a balance of interests with its neighbors. According to President Steinmeier, Kazakhstan is actively involved in the world politics, takes the role as a responsible partner in the UN Security Council, and also promotes peace talks for resolving the Syrian conflict.
    "You know I highly appreciate your analysis, advice on the situation in the region [Central Asia] as a whole. Speaking today about the conflict in Ukraine and the Middle East, we have conducted an open and honest exchange of views. In the bilateral relations, we are not limited to economic issues, although there is, certainly, a mutual interest in that line. We are very pleased that our diplomatic relations are turning 25 years old. We have a reason to celebrate them solemnly. Over that time, the diplomatic relations have become not only closer, but also more diverse," Frank-Walter Steinmeier said.
    The German President noted that Kazakhstan is the anchor of stability in Central Asia. "We know that Kazakhstan is an independent and self-confident state. We do not forget your decision, dear President Nazarbayev, to renounce nuclear weapons in order to ensure peaceful development in the region and on the whole," he concluded.
    President of Kazakhstan Nursultan Nazarbayev has summed up the results of the negotiations with German Federal President Frank-Walter Steinmeier held today in Akorda residence, Astana, Kazinform correspondent reports.
    The Head of Kazakhstan noted that the talks were meaningful as they discussed the issues on development of political, economic, cultural and humanitarian cooperation. At the same time, the issues of international and regional processes were not neglected. As a result, the leaders reached agreements to strengthen the ties between Kazakhstan and Germany.
    "Today, we are entering the level of the strategic partnership for the widest range of political and economic relations. (...) I informed the President on the processes of Kazakhstan development, foreign policy targets, and about our region," Nursultan Nazarbayev noted.
    The President of the host country reminded that Germany is a reliable friend and key economic partner of Kazakhstan. Over 900 enterprises with stakes belonging to German businesses are successfully operating in our country. More than $4 billion of direct investment has been attracted.
    "We continue that work, upscaling our relations. We have discussed the possibility that German businesses would be involved in using advanced technologies in Kazakhstan industrialization process. The main emphasis is on the effective implementation of the agreement for partnership in raw material, industrial and technological areas we have. It is necessary to strengthen collaboration as to privatization, and training of professional technical personnel. It is important to intensify bilateral cooperation in energy, agriculture, transit and transport. Taking into account the favorable geographic location, we intend to join efforts in promoting the overland delivery of goods through Asia from China to Germany. For the first time we are entering the joint projects introducing the elements of the Fourth Industrial Revolution in Kazakhstan," the Head of State said.
    According to Nursultan Nazarbayev, the efficient work by the Joint Intergovernmental Commission and the Business Council is of utmost importance. The President informed that over 20 documents worth nearly $1bn have been signed following the results of the business council session today.
    "We are working in research, educational, cultural and humanitarian spheres. The strong ties between the German community of thousands in Kazakhstan and Kazakhstani Germans in Germany are important for the partnership," he added.
    The Leader of the Nation also highlighted the commonality of the two countries' approaches to the current issues of the international politics. "Owing to Germany's support and Mr. Steinmeier's personal efforts, the European Union's first Central Asia Strategy for 2007-2013 was adopted, as well as the Water Initiative for our region was launched. We express our gratitude to you and your country for ratifying the Enhanced Partnership and Cooperation Agreement between the EU and Kazakhstan. We highly appreciate the role of Germany in the world politics, in particular, the G20 Summit hosted recently in Hamburg. Needless to say, we have discussed the problem in Ukraine and the Middle East and touched upon the topic of humanitarian and cultural relations, expansion of the Kazakh-German University and personnel training," Nazarbayev concluded.
    Reported by Kazinform.

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Kazakhstan General

Kazakhstan ratifies cooperation protocols with Kyrgyzstan
    The Head of State has signed the Law of the Republic of Kazakhstan "On ratification of the Protocol between the Government of the Republic of Kazakhstan ...
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Maltese lawyer acquitted of misappropriating ˆ1.5 million from Rakhat Aliyev over lack of evidence
    A Maltese lawyer has been cleared of misappropriating funds belonging to Elnara Shorazova and Rakhat Aliyev, the former son-in-law of Kazakh President Nursultan Nazarbayev, due to ...
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Storm warning declared in Astana and Akmola region
    Due to the deterioration of weather conditions in Astana and the Akmola region, a storm warning has been announced. A strong wind is expected in the ...
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South Korea tightens border checks as number of Kazakh illegal migrants soars
    In an attempt to curb the inflow of illegal migrants from Kazakhstan, South Korea has tightened document checks at its border, Kazinform reports.
    It was announced ...
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Expo-2017

Latvian President visits Astana, attends EXPO 2017
    Kazakh Prime Minister Bakytzhan and Latvian President Raimonds Vejonis discussed July 10 in Astana bilateral trade and economic cooperation in the light and food industries, agriculture, ...
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Oil and Gas Sector

BMB Munai estimated at $0.00
    Wall Street await BMB Munai Inc. (OTCMKTS:BMBM) to release earnings on July, 13. The stock increased 13.33% or $0.004 on July 11, reaching $0.034. About 248,814 ...
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Reach Energy, Mangystau ink MoU to enhance Malaysia-Kazakhstan ties
    Reach Energy Bhd, a listed Malaysian oil and gas exploration production company, on Wednesday inked a memorandum of understanding (MoU) with Akimat, the regional government of ...
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OPEC sees marginal oil output rise in Kazakhstan, FSU, stable markets
    Oil production in the FSU is expected to grow by 70 tb/d to average 13.93 mb/d in 2017. This indicates an upward revision of 41 tb/d ...
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Turkmenbashi Refinery Complex boosts production and oil product supplies
    Over the first six months of 2017, the Turkmenbashi Refinery Complex and Seidi Refinery over-fulfilled the oil supply targets by 103.7% and delivered 3.3 million tons ...
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China plans to expand oil, gas pipeline networks
    China will increase its oil and natural gas pipelines during the coming years as the world's largest energy consumer moves to secure stable supplies and clean ...
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Med crude-Urals slightly down in Baltic
    Med crude-Urals slightly down in Baltic, CPC Blend exports seen lower in Aug
    differentials moved slightly lower in northwest Europe, but demand for July volumes of the ...
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Oil rises as U.S. crude stocks drop by more than expected
    Oil futures rose, maintaining some gains from earlier in the day, as a report showing hefty drawdowns in U.S. crude inventories was offset by data pointing ...
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Natural gas prices drift lower, demand expectations remain supportive
    Natural gas prices have drifted lower, although retreats have been limited by underlying confidence surrounding demand.
    After a firm rally during Tuesday, natural gas prices were unable ...
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Gazprom’s budget constraints drive sales
    There are some similarities to the backward bending labour supply curve. People at first try to work more as wages go up, but once income reaches ...
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Finance and Investment

NBK international reserves despite the intervention moderately increased in June
    Despite the increased volatility in the FX market and NBK intervention there was moderate increase of international reserves of the National Bank by $115 million to ...
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Kazakh state to provide over 500 bln tenge to support banks
    Kazakhstan’s central bank estimates that the state will provide more than 500 billion tenge ($1.52 billion) to support the nation’s banking system, Kazakh Deputy National Bank ...
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Halyk Bank injected KZT185bn equity in Kazkommertsbank
    JSC Halyk Bank (“Halyk Bank”) announces that on 11 July 2017 the Board of Directors of Halyk Bank approved the execution of its pre-emptive rights with ...
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Halyk Finance Research publicises H1 economic performance report
    In the first half of this year, the main economic indicators in industry, trade, transport showed strong performance against the backdrop of low base in the ...
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Fitch affirms Kazakhmys Insurance at IFS ‘B+’; outlook stable
    Fitch Ratings has affirmed JSC Kazakhmys Insurance Company’s (Kazakhmys Ins) Insurer Financial Strength (IFS) Rating at ‘B+’ and its National IFS rating at ‘BBB(kaz)’. The Outlooks ...
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Metals and Minerals

Copper and the making of Kazakhstan’s new metal moguls
    Commodity prices have found a “new normal” but copper is doing much better.
    What seemed to be a widespread disease impacting commodity prices turned out to be ...
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Tumbling inventories push zinc to three-month highs
    Zinc prices climbed to their highest in more than three months on Wednesday as the market worried about falling stocks in exchange warehouses, shortages and expectations ...
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Gold holds steady as investors await Fed testimony
    Gold steadied on Wednesday, holding above this week's near four-month low ahead of a closely watched speech by U.S. Federal Reserve Chair Janet Yellen later
    in the ...
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Spot uranium higher for sixth-consecutive week
    TradeTech’s weekly spot uranium price indicator climbed last week for the sixth consecutive session; however, the rise was very modest. Uranium spot prices advanced by just ...
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Trade and Consumer Goods

EU increased wheat imports from Kazakhstan by 27%
    Kazakhstan exported 354.3 KMT of wheat in May 2017, or 3.5% more than in the previous month and 13.8% more than at the same time last ...
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Russia upgraded to top rank in world wheat exports in 2017-18
    Russia, which maintains a joint marketing system with Kazakhstan, was promoted by US officials to top rank in world wheat exports thanks to an upgrade to ...
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Hedge fund shorts leave softs 'collectively vulnerable' to a rally
    The extent of selling by hedge funds in soft commodities makes the complex "collectively vulnerable" to a price spike, sector specialist Judith Ganes-Chase said, while naming ...
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Corn, winter wheat drag grains lower, as US supply hopes top expectations
    Corn and winter wheat futures led grains lower, undermining resilience in soyabean and spring wheat prices, after US officials, in long-awaited crop data, held with their ...
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Communications and Transportation

Kar-Tel offers new conditions to Sim re-sellers
    Mobile operator Kar-Tel, working under the Beeline Kazakhstan brand, has modified partnership conditions applied to ipartners re-selling Sims. The operator will pay partners 50 percent of ...
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Kazakh, Russian special services prepare for Soyuz 2.1a launch
    It's not only the cosmodrome services that prepare for the upcoming launch of the Soyuz 2.1a rocket on July 14, 2017, but also special units serving ...
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People and Professional Development

Flemish expert appointed head of Atakent centre, Almaty
    On the 4th of July 2017, by Decision No. 10 made on 03.07.2017 by the Board of Directors of Joint-Stock Company Kazakh Center of Business Cooperation ...
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Culture and Society

Nicolas Cage, John Malkovich to attend film festival in Astana
    The 13th Eurasia International Film Festival will be held in Astana between 22nd and 28th July, the organizers told a briefing in the Central Communications Service.
    It ...
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Regional News

China to deepen reforms to promote mass entrepreneurship, innovation
    China's cabinet on Wednesday adopted guidelines with detailed measures to boost mass entrepreneurship to achieve innovation-driven growth.
    China will deepen reforms in innovation-driven development to expand the ...
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Economic development in Xinjiang on fast lane
    Every evening, workers gather in the Shenzhen Industrial Park in Kashgar, Xinjiang Uygur Autonomous Region, waiting for buses to take them home.
    Companies based in the park, ...
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China securities regulator pledges to strengthen market supervision
    China will strengthen oversight on the securities market to keep it fair, open and impartial, a senior official said Wednesday.
    Jiang Yang, vice chairman of the China ...
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Throughput of Russian seaports in Jan-June'17 up 11.3% Y-o-Y to 384 mln t
    In January-June 2017, Russian seaports handled 348 mln t of cargo (+11.3%, year-on-year), says the press center of Association of Commercial Sea Ports.
    Transshipment of dry bulk ...
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Western businesses ‘making a comeback’ to Russia
    Western businesspeople have been gradually restoring their interest in Russia, as real estate firms have reported an increase in demand for residential rentals for corporate clients ...
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Russia harvested 5.8 mln tonnes of grains - Ministry of Agriculture
    As of July 10, southern regions of Russia continued harvesting grain crops and pulses. Generally, agrarians in the country harvested grains throughout the areas of nearly ...
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Russian tycoon gets five years in jail, but walks free as statute of limitations expires
    Despite finding Russian businessman Sergey Polonsky guilty of embezzling more than 2.6 billion rubles ($43 million) in real estate fraud, Moscow’s Presnensky court ruled to release ...
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Kyrgyzstan: mudflows damage houses and wash away hectares of crops in Naryn
    Several villages in Jumgal district of Naryn village suffered from mudflows, Turmush reported.
    As a result of mudflows, Tuura-Terek and Jayilma rivers overflowed the banks and flooded ...
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Growth in Turkmenistan in H1 2017 was 6.4%
    Growth in Turkmenistan in the first half of 2017 was 6.4%, Deputy Prime Minister Byashimurad Hojammamedov said during the extended meeting of the Cabinet of Ministers ...
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Tajikistan harvested nearly 0.5 mln tonnes of grains
    As of July 3, Tajikistan harvested 432.7 thsd tonnes of grain crops throughout the areas of 303.9 thsd ha, declared the Ministry of Agriculture of the ...
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Belarusian agricultural machinery to be assembled in Tajikistan
    There are plans to start assembling Belarusian agricultural machinery in Tajikistan this autumn, Belarus’ BelTA news agency reported citing Ambassador of Belarus to Tajikistan Oleg Ivanov.
    The ...
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Uzbekistan electrifies Karshi-Kitab railway line
    Uzbekistan starts to implement an investment project “Electrification of the Karshi-Kitab railway line with adaption to high-speed passenger trains”.
    On 10 July 2017, President of Uzbekistan ...
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War of words heats up between Iran and Afghanistan over water resources
    A long-running diplomatic squabble between Iran and Afghanistan over shared water resources appears to be intensifying, with the two countries’ presidents trading barbs in speeches over ...
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Afghanistan : Taliban commander killed in infighting
    A Taliban commander has been killed during the latest infighting among the Taliban insurgents in eastern Nangarhar province of Afghanistan, state-run news agency Khaama Press said.
    The ...
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Taliban murder seven passengers in West of Afghanistan
    The Taliban insurgents have “executed” at least seven passengers in western Farah province of Afghanistan, state-run news agency Khaama Press said.
    The report quoted local officials as ...
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Steve Bannon is back — and while we’re all distracted he wants to outsource the war in Afghanistan
    So according to Donald Trump Jr.’s own emails it looks like he, Jared Kushner and Paul Manafort knowingly met with a woman said to be representing ...
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Prices and Statistics

Commodities
    

Date: July 13, 2017; Source: Bloomberg.com

Energy

Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/bbl. 45.48 -0.01 -0.02% Aug 2017 12:54 AM
USD/bbl. 47.73 -0.01 -0.02% Sep 2017 12:52 AM
USd/gal. 151.47 -0.61 -0.40% Aug 2017 12:53 AM
USD/MMBtu 3.01 +0.02 +0.80% Aug 2017 12:53 AM
USd/gal. 147.37 0.00 0.00% Aug 2017 12:51 AM
 
Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/t oz. 1,222.10 +3.00 +0.25% Aug 2017 12:54 AM
USD/t oz. 1,223.23 +2.72 +0.22% N/A 1:04 AM
USD/t oz. 15.90 +0.01 +0.08% Sep 2017 12:54 AM
USd/lb. 268.60 +0.20 +0.07% Sep 2017 12:53 AM
USD/t oz. 918.79 +2.23 +0.24% N/A 1:04 AM
Index Units Price Change %Change Contract Time (EDT) 2 Day
USd/bu. 381.75 -3.75 -0.97% Sep 2017 12:50 AM
USd/bu. 529.25 -7.75 -1.44% Sep 2017 12:54 AM
USD/MT 1,821.00 +4.00 +0.22% Sep 2017 7/12/2017
USd/lb. 67.39 +0.12 +0.18% Dec 2017 7/12/2017
USd/lb. 117.88 +3.00 +2.61% Oct 2017 7/12/2017
 

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Exchange Rates
    

Date: July 13, 2017; Source: the National Bank of Kazakhstan

1 AUSTRALIAN DOLLAR AUD / KZT 251.25    
1 AZERBAIJAN MANAT AZN / KZT 196.72    
10 ARMENIAN DRAM AMD / KZT 6.89    
1 BELARUS ROUBLE BYN / KZT 166.3    
1 BRAZILIAN REAL BRL / KZT 100.95    
10 HUNGARIAN FORINTS HUF / KZT 12.24    
1 HONG KONG DOLLAR HKD / KZT 42.05    
1 GEORGIAN LARI GEL / KZT 137.8    
1 DANISH KRONA DKK / KZT 50.62    
1 UAE DIRHAM AED / KZT 89.44    
1 US DOLLAR USD / KZT 328.52    
1 EURO EUR / KZT 376.45    
1 INDIAN RUPEE INR / KZT 5.09    
1000 IRANIAN RIAL IRR / KZT 10.08    
1 CANADIAN DOLLAR CAD / KZT 254.23    
1 CHINESE YUAN CNY / KZT 48.4    
1 KUWAIT DINAR KWD / KZT 1086.38    
1 KYRGYZIAN SOM KGS / KZT 4.75    
1 MALAYSIAN RINGGIT MYR / KZT 76.54    
1 MEXICAN PESO MXN / KZT 18.35    
1 MOLDAVIAN LEY MDL / KZT 18.2    
1 NORWEGIAN KRONA NOK / KZT 39.8    
1 POLISH ZLOTY PLN / KZT 88.7    
1 SAUDI RIYAL SAR / KZT 87.61    
1 RUSSIAN ROUBLE RUB / KZT 5.41    
1 SDR XDR / KZT 455.89    
1 SINGAPORE DOLLAR SGD / KZT 237.89    
1 TAJIKISTAN SOMONI TJS / KZT 37.29    
1 THAI BAHT THB / KZT 9.66    
1 TURKISH LIRA TRY / KZT 91.26    
100 UZBEKISTAN SUM UZS / KZT 8.19    
1 UKRAINIAN GRIVNA UAH / KZT 12.68    
1 GREAT BRITAIN POUND GBP / KZT 422.21    
1 CRECH KORUNA CZK / KZT 14.42    
1 SWEDISH KRONA SEK / KZT 39.09    
1 SWISS FRANC CHF / KZT 341.25    
1 SOUTH AFRICAN RAND ZAR / KZT 24.52    
100 SOUTH KOREAN WON KRW / KZT 28.7    
1 JAPANESE YEN JPY / KZT 2.9    

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