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News: Monday, July 17, 2017 -- Issue 2780 http://www.newsline.kz/rss/

Article of the Day

President Nazarbayev unveils Nurly zhol park in E Kazakhstan
    Head of State Nursultan Nazarbayev has unveiled today a new park Nurly Zhol in Ust-Kamenogorsk, Kazinform reports.
    The new park appeared on a waste land and was designed taking into account modern trends in landscape design. Now the park has a drama theater, a school and a rehabilitation center.
    Architect Sarsen Siitov revealed plans to build a huge residential complex in the area. The new park also boasts the Nurly zhol monument consisting of two steles and symbolizing two continents - Europe and Asia. The steles are roofed under one shanyrak with an eagle soaring above it. The eagle is made of leaf gold.
    While in the city, President Nazarbayev also attended an architectural exhibition showcasing 2,000 artifacts found during the excavations of Shiliktinsk burial mounds in Zaisan, in Berel burial mounds and at Ablaikit pagoda.
    Talking to labour unions, heads of agricultural associations and enterprises, Nursultan Nazarbayev noted that much has already been done in Kazakhstan, the country is developing, but there is much yet to do, Kazinform reports.
    According to the President, "there are so many lands in the country, and as far as there is no advanced processing, we sell cheap raw materials".
    "We can process wheat and sell it as macaroni. We still do not process meat, milk, vegetables and oilseeds to the full extent. The country has meat processing plants, dairies, however their load does not exceed 40 percent on average. When I saw into the problem, it turned out that there is not any raw material. Actually, there is, but it needs to be delivered and handed over so that to get the money for the products. If we develop cooperation, then this system will work out. There will be an operating organization that will link producers and consumers together," the Head of State noted.
    The road that will run throughout Kazakhstan and connect China with Western Europe is under construction now. According to the President of Kazakhstan, this route is a new opportunity for the farmers working in East Kazakhstan. Using that road, agrarians will deliver their products to the largest cities of the country.
    As it has been already noted, the Head of State opened a new park "Nurly Zhol" in the left-bank district of Ust-Kamenogorsk town today as part of his working visit to East Kazakhstan region. There, he saw the exhibition of the archaeological artifacts found in the sacred places of the region. In addition, Nursultan Nazarbayev talked to the public of the town and the leaders of the large industrial enterprises that invested their own assets for the new park construction. The Head of State also visited the Pilot Farm of Oilseeds, where he got aware not only of its scientific and production potential, but also communicated with the agrarians of the region.
    Reported by Kazinform.

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Kazakhstan General

Fire kills foreign family in Astana
    The Astana Department of Internal Affairs has identified those who died in the fire that occurred in the Highvill housing estate in the capital of Kazakhstan, ...
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Rains, thunderstorms expected in Kazakhstan on July 17
    In most parts of Kazakhstan on Monday, with the passage of the frontal sections, unstable weather persists, rains with thunderstorms are expected. Meteorologists say hail is ...
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Expo-2017

Sale of season tickets for EXPO 2017 began
    A 50% discount is announced for season tickets for EXPO-2017. Daulet Yerkimbaev, director of commercialization department of JSC "NC" Astana EXPO-2017" told about new price policy ...
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12 countries marked national days at EXPO 2017
    Within the framework of EXPO-2017, the celebration of the National Days of 12 countries of the Caribbean Community was held, Kazpravda.kz correspondent reports.
    Deputy Minister of Foreign ...
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Experts discuss nuclear rehabilitation, green technologies in nuclear energy at EXPO 2017
    Kazakh radioecology experts and representatives of non-governmental organisations recently discussed the rehabilitation of land at the former Semipalatinsk nuclear test site, the use of green technologies ...
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Oil and Gas Sector

Kazakhstan confirms commitment to OPEC agreement to cut oil production
    Kazakhstan confirmed July 12 its commitment to agreements between the Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC countries to reduce oil production until April ...
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Sino-Russia oil pipeline expands
    Joint energy projects between Russia and China are in full swing as Russia has reached out to tackle the gigantic Chinese market amid economic woes.
    On Wednesday, ...
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Oil up 1 percent, posts weekly gain of 5 percent
    Oil rose 1 percent on Friday, boosted as U.S. crude producers added only two rigs in the latest week and on signs of increased Chinese demand, ...
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Finance and Investment

Kazakh megamerger brings relief as concerns over CIS banks linger
    Kazakhstan largest banks US$560mn takeover of its biggest rival is expected to bring more stability the countrys fragile banking system and leave a positive footprint on ...
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Al-Hilal Bank expands services in Kazakhstan
    The Abu Dhabi-based Al Hilal Bank is expanding its range of services and launching Islamic banking products for individual customers, according to forbes.kz.
    In the medium term, ...
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Fitch places AMANAT Insurance on rating watch negative
    Fitch Ratings-Moscow/London-13 July 2017: Fitch Ratings has placed Kazakhstan-based AMANAT Insurances (AMANAT) Insurer Financial Strength (IFS) rating of B and National IFS rating of BB+(kaz) on ...
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Halyk insurance companys rating reaffirmed by AM Best
    A.M. Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of bbb- of Halyk-Life, Life Insurance Subsidiary Company of ...
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KASE day session: USDKZT_TOD = 327.43
    The day foreign currencies trading session ended on Kazakhstan Stock Exchange (KASE).
    Based on results of trades on the spot-market:
    - weighted average US dollar rate with settlements ...
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Metals and Minerals

Kazakhstan: iron ore output up in H1 2017
    In January-June Kazakhstan mined 19.07 million tons of iron ore, up by 10.4% YoY.
    According to the Ministry of the national economy, copper ore output totalled 48.528 ...
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Central Asia Metals Ltd earns buy rating from FinnCap
    FinnCap restated their buy rating on shares of Central Asia Metals Ltd (LON:CAML) in a research note released on Wednesday, July 5th. FinnCap currently has a ...
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London copper, aluminium supported by China demand hopes
    London copper and aluminium were marking time near recent highs on Friday, underpinned by encouraging economic reports from China and the prospect of aluminium production cuts.
    China's ...
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Gold hits near 2-week high after U.S. data disappoint
    Gold prices jumped 0.4 percent to the highest level in nearly two weeks on Friday after data pointed to weak U.S. inflation, reaffirming doubts that the ...
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Uranium: new bull market on the horizon
    Its been a tough few years for uranium miners. The price of uranium has been falling since 2007. Back then it cost around $136 a pound. ...
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Trade and Consumer Goods

Kazakhstan, China ink $160m in agricultural agreements.
    Kazakhstan and China signed $160 million in agreements July 11 during the Kazakh-Chinese Agriculture Investment Forum held as part of a two-day visit to the capital ...
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Kazakhstan: favourable conditions for grain filling in winter wheat
    The June 21-30 weather conditions were favoruable for grain filling and full ripening. At the same time, precipitation events improved air and soil moisture supply to ...
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President instructs E Kazakhstan farmers to be into crop processing
    Nazarbayev has visited the Pilot Farm of Oil Plants LLP and met with representatives of agrarian dynasties, Kazinform correspondent reports.
    The Head of the agricultural holding Farid ...
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Russian wheat market: price growth continued last week
    Price growth continued in the Russian wheat market, which also serves as a benchmark for Kazakh wheat, during last week. Export prices for Russian milling wheat ...
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Analysts wrong-footed by corn price dip - but not by falls in soya, wheat
    Analysts appear to have been caught out among this week's grains corrections particularly by corn's retreat, with their forecasts for soybean and wheat still suggesting scope ...
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Futures: dollar weakness, US weather spur ag price gains
    The dollar eased by 0.6% against a basket of currencies to a nine-month low, boosting the value of dollar-denominated exports, such as many commodities, by making ...
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Kazakhstan creates online platform for wholesale trade in Central Asian Region
    Entrepreneurs from Commonwealth of Independent States (CIS) countries will no longer need to travel to China, Kyrgyzstan or Uzbekistan to purchase goods, as Central Asian region ...
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Communications and Transportation

Ukraine to build An-74 aircraft for Kazakhstan
    The Kharkov aircraft factory will build an An-74 aircraft for Kazakhstan. This was stated by the general director of the enterprise Alexander Krivokon, Kazpravda.kz reports with ...
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Telia warns one-off items to hit Q2 earnings
    Telia Company is facing a 1.2 billion crown ($144 million) hit on second-quarter earnings due to capital losses and other one-off items, the Nordic telecom operator ...
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Carrier-rocket launched from Baikonur to put 73 satellites into orbit
    The first carrier-rocket from the Baikonur cosmodrome was launched to put 73 spacecraft into near-earth orbit, Kazpravda.kz reports with reference to the press service of the ...
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Sports

Astana to host President Cup International Tennis Tournament
    As part of EXPO-2017 International Specialized Exhibition, the 19th International Tennis Tournament of ATP Challenger and ITF Women's "President's Cup-2017" with a total prize fund of ...
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Regional News

Sberbank closes first deal on Shanghai Gold Exchange
    Sberbank (Switzerland) AG, the subsidiary of Sberbank CIB, started trading in physical gold on the Shanghai Gold Exchange (SGE), the Russian bank said in its press ...
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Chinese economic expansion squeezes out Moscows lead in EAEU
    Almost all member-states of the Eurasian Economic Union (EAEU) have been shifting their economic activities from Russia to China recently as Beijing has increased its share ...
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Russia may be hit by $43.4 mln in crop losses
    Due to the unusually cold and rainy summer which has led to poor crops, Russian agriculture producers may be facing up to 2.6 bln rouble ($43.4 ...
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Russia plans to develop cruise tourism in Caspian Sea
    Cruise tourism is one of the steadily growing segments of the tourism sector and can make a significant contribution to a destinations economy.
    Generating an estimated $18 ...
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China to pour trillions into Belt and Road projects
    China's well-funded Belt and Road Initiative has rolled out with thousands of Chinese enterprises going all out in the vast, new market created by participating countries ...
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China sees faster fiscal revenue growth as economy improves
    China posted faster growth in fiscal revenue in June as it saw signs of improvement in the economy, official data showed Friday.
    Fiscal revenue rose 8.9 percent ...
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Statistics Committee registers increase of Kyrgyz cultivation areas
    The total area of lands used for cultivation of all types of crops amounted to 1,207,100 hectares in 2017, which is 1.2% or 14,800 hectares more ...
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Issyk-Kul 2017: which resorts belong to foreigners?
    About 192 recreation centers and resorts operate in Kyrgyzstan to date, according to the National Statistics Committee.
    83 of them are resorts, 5 resorts for treatment, ...
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Kyrgyzstan- Uzbekistan trade turnover soars
    The trade turnover between Kyrgyzstan and Uzbekistan increased by 1.5 times in 1H2017 compared to the same period of 2016.
    This fact was noted at a meeting ...
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Azerbaijan Caspian Shipping Company expands its fleet
    The Azerbaijan Caspian Shipping Company increased the number of vessels sailing in international waters.
    The tanker "Professor Aziz Aliyev" belonging to the shipping company will be operated ...
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Fitch affirms 4 state-owned Uzbek banks at 'B+' with stable outlooks
    Fitch Ratings has affirmed the Long-Term Foreign Currency Issuer Default Ratings (IDRs) of Uzbek Industrial and Construction Bank Joint-Stock Commercial Bank (Uzpromstroybank; UPSB), Asaka Bank (Asaka), ...
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Uzbekistan places special emphasis on Afghanistan
    Uzbekistani officials are offering to help build Afghanistan and calling for the international community to aid their war-stricken neighbour.
    A number of Uzbekistani initiatives aimed at helping ...
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Uzbekistan revitalises GTL plant construction project
    A unique project on the construction of a gas-to-liquid (GTL) plant in Uzbekistans Kashkadarya region had been pendent for a long time, but it has found ...
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Prices and Statistics

Commodities
    

Date: July 17, 2017; Source: Bloomberg.com

Energy

Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/bbl. 46.67 +0.13 +0.28% Aug 2017 1:51 AM
USD/bbl. 49.08 +0.17 +0.35% Sep 2017 1:51 AM
USd/gal. 156.21 +0.16 +0.10% Aug 2017 1:49 AM
USD/MMBtu 2.99 +0.01 +0.40% Aug 2017 1:50 AM
USd/gal. 152.06 +0.56 +0.37% Aug 2017 1:47 AM
 
Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/t oz. 1,230.40 +2.90 +0.24% Aug 2017 1:52 AM
USD/t oz. 1,231.14 +2.44 +0.20% N/A 2:02 AM
USD/t oz. 16.03 +0.09 +0.58% Sep 2017 1:52 AM
USd/lb. 270.70 +1.60 +0.59% Sep 2017 1:52 AM
USD/t oz. 924.66 +3.38 +0.37% N/A 2:02 AM
Index Units Price Change %Change Contract Time (EDT) 2 Day
USd/bu. 371.75 -4.50 -1.20% Sep 2017 1:51 AM
USd/bu. 504.50 -6.25 -1.22% Sep 2017 1:50 AM
USD/MT 1,915.00 +43.00 +2.30% Sep 2017 7/14/2017
USd/lb. 66.75 +0.17 +0.26% Dec 2017 1:42 AM
USd/lb. 118.58 +0.75 +0.64% Oct 2017 7/14/2017
 

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Exchange Rates

Date: July 17, 2017; Source: the National Bank of Kazakhstan

1 AUSTRALIAN DOLLAR AUD / KZT 253.44
1 AZERBAIJAN MANAT AZN / KZT 191.94
10 ARMENIAN DRAM AMD / KZT 6.84
1 BELARUS ROUBLE BYN / KZT 166.69
1 BRAZILIAN REAL BRL / KZT 101.74
10 HUNGARIAN FORINTS HUF / KZT 12.17
1 HONG KONG DOLLAR HKD / KZT 41.84
1 GEORGIAN LARI GEL / KZT 136.59
1 DANISH KRONA DKK / KZT 50.15
1 UAE DIRHAM AED / KZT 88.96
1 US DOLLAR USD / KZT 326.72
1 EURO EUR / KZT 372.89
1 INDIAN RUPEE INR / KZT 5.07
1000 IRANIAN RIAL IRR / KZT 10.02
1 CANADIAN DOLLAR CAD / KZT 256.41
1 CHINESE YUAN CNY / KZT 48.17
1 KUWAIT DINAR KWD / KZT 1078.28
1 KYRGYZIAN SOM KGS / KZT 4.73
1 MALAYSIAN RINGGIT MYR / KZT 76.14
1 MEXICAN PESO MXN / KZT 18.49
1 MOLDAVIAN LEY MDL / KZT 18.08
1 NORWEGIAN KRONA NOK / KZT 39.69
1 POLISH ZLOTY PLN / KZT 88.44
1 SAUDI RIYAL SAR / KZT 87.12
1 RUSSIAN ROUBLE RUB / KZT 5.48
1 SDR XDR / KZT 453.91
1 SINGAPORE DOLLAR SGD / KZT 237.72
1 TAJIKISTAN SOMONI TJS / KZT 37.38
1 THAI BAHT THB / KZT 9.65
1 TURKISH LIRA TRY / KZT 91.78
100 UZBEKISTAN SUM UZS / KZT 8.15
1 UKRAINIAN GRIVNA UAH / KZT 12.57
1 GREAT BRITAIN POUND GBP / KZT 423.53
1 CRECH KORUNA CZK / KZT 14.31
1 SWEDISH KRONA SEK / KZT 39.15
1 SWISS FRANC CHF / KZT 336.93
1 SOUTH AFRICAN RAND ZAR / KZT 24.77
100 SOUTH KOREAN WON KRW / KZT 28.81
1 JAPANESE YEN JPY / KZT 2.89

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