Business Information

 

Kazakh banks to stop extend loans if monthly payments exceed borrower’s income 50%

March 6, 2014

The National Bank of Kazakhstan introduces restrictions on extending banks loans and credit lines starting from April 1. According to the regulation of the National Bank published on Thursday, the bank should use the borrower’s debt ratio in the loan decision-making.

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Kazakhstan may start exporting fuel to Central Asia in 5 or 6 years, minister

March 4, 2014

After upgrading the refineries and building a new one, Kazakhstan will no longer be dependable on imports of oil products. Kazakhstan currently imports 1.6-1.7 million tonnes of light oil. The ongoing upgrade of the three refineries will boost the capacity of the Pavlodar refinery by 7 million tonnes, the Shymkent refinery by 6 million tonnes and Atyrau refinery by 5 million tonnes.

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Oil tolling contracts not attractive for Kazakhstan any longer – KazMunayGas CEO

March 4, 2014

Oil tolling contracts are becoming unattractive for Kazakhstan in view of the agreements with Russia on duty-free supplies of light oil products, said Sauat Mynbayev, the head of National Company KazMunayGas.

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Samruk-Kazyna to be transformed into a holding company focusing on investment projects

February 27, 2014

In 2014, National Wealth Fund Samruk-Kazyna will be reorganized into a holding company, Samruk-Kazyna says in a press release. The new holding company will focus on two directions: first, increasing the revenue generated by the existing assets through improvement of their business processes at all levels and, second, investing the profit in start-up and innovative projects, according to the press release.

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Samruk-Kazyna sells its stakes in four banks at a loss

February 27, 2014

Samruk-Kazyna Sovereign Wealth Fund, a shareholder of the four banks – Alliance Bank, Temir, KKB and BTA Bank, is taking a loss on its sale of shares. “The fund invested in the banks total nearly 332 billion tenge. The sale of the shares in BTA, Temir and partially Alliance Bank will bring more than 200 billion tenge. Another 70-80 billion tenge we will gain from selling our interest in Kazkommertsbank,” said the head of Samruk-Kazyna Umirzak Shukeyev in Astana on Thursday.

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Ministry of Finance stands for limiting bank cash withdrawals for legal entities

February 27, 2014

Minister of Finance of Kazakhstan Bakhyt Sultanov stands for imposing a legislative restriction on bank cash withdrawals for legal entities. Cash payment is a sore spot. Some countries restricted cash payments. Kazakhstan set the ceiling limit for cash payments between legal entities at 1,000 MCI, but cash withdrawals from bank accounts are still free from any restraints,” he said at the Ministry’s board meeting on Thursday Astana.

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Kazakhstan’s national debt rose to 12.8% of GDP, Ministry of Finance

February 27, 2014

Kazakhstan’s national debt rose to 4.4 trillion tenge, Finance Minister Bakhyt Sultanov said. “The public debt at the beginning of the year rose to 12.8% of GDP and reached 4.4 trillion tenge, or roughly $28.8 billion as of January 1. It mainly consists of government obligations, of which 82% are internal,” said Sultans at a board meting in the Ministry of Finance in Astana on Thursday.

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Mineral resource companies to be granted licenses on a “first come, first served” basis

February 20, 2014

The Ministry of Industry and New Technologies has proposed 189 amendments to the subsoil legislation. According to the amendments, the expertise requirements for license contracts will be reduced to 60%; the terms and conditions of the model contract optimized; the companies extracting solid mineral resources–excluding uranium–will now not have to get approval for changes in the production volumes, Vice Minister of Nurlan Sauranbayev said when presenting the amendments in the Majilis, the lower chamber of the Kazakh parliament.

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Savings of Kazakhstan citizens reach record 3.8 trillion tenge

January 29, 2014

Savings of Kazakhstan citizens have reached amonumental figure for the country, the total deposits are standing at 3.8trillion tenge. The KazakhstaniDeposit Insurance Fundguarantees safekeeping ofindividual’s deposits. The Fund revisesrecommendations onthe remunerationof deposits every quarter.The rate for deposits in tenge is 9% per annum, and the rate for deposits in foreigncurrency is4.5 per annum.

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Kazakhstan to increase export of food products to Moscow

January 28, 2014

Kazakhstan will increase the export of food products to Moscow, kapital.kz reports. Currently, 95 % of Kazakhstan’s exported products are grain, and only 5 % are the other products. Currently Moscow is more interested in the supply of fruit, vegetables and meat.

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Gas and chemical giant

September 27, 2013

Gas and chemical giantConstruction of Kazakhstan’s first integrated gas -chemical complex in Atyrau is to be completed in late 2015. Nursultan Nazarbayev tasked the Government to create our own petrochemical industry. This task will have been implemented after construction of the first integrated chemical complex in Atyrau region.

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Integration is an incentive for business growth

September 27, 2013

The Finance and Budget Committee of RK Senate held a visiting meeting in Uralsk with participation of government officials, representatives of NEPK «Union» Atameken «and entrepreneurs of the West Kazakhstan oblast. The participants discussed the issues of doing business in the conditions of the Customs Union and Common Economic Space.

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Recovery projected for global flour exports in 2013-14

July 12, 2013

LONDON — World trade in wheat flour, as projected by the International Grains Council, will increase by 7% in the 2013-14 crop year. That represents a partial recovery from the 16% drop in the year ending this June 30, and would bring global flour exports to the second largest total of record.

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The Global Competitiveness Report 2012–2013 (World Economic Forum, Davos, 2013)

July 12, 2013

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Kazakhstan and the United Kingdom signed a strategic partnership agreement

July 11, 2013

Cameron_NazarbaevKazakh President Nursultan Nazarbayev and British Prime Minister David Cameron on the 1st Astana, capital of Kazakhstan , signed a strategic partnership agreement. Nursultan Nazarbayev at the signing ceremony held after reporter conference that the signing of this agreement reflects not only the potential of bilateral relations, the two countries also expressed the wish to enhance bilateral relations the wishes of the new level. Kazakhstan, the United Kingdom…

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Business Monitor International

May 21, 2013

Following an estimated 5.3% expansion in 2012, we forecast Kazakh real GDP growth will reach 5.8% in 2013. A recovery in the agricultural sector combined with strong investment and consumer spending will drive growth higher this year. Kazakhstan remains an attractive destination for foreign investment due to its vast natural resources wealth, a good location to export to high growth markets in Asia, and a steadily improving business environment . We see a lot of room for growth across many sectors, particularly alcohol and food retailing. Multinationals led by Nestlé Turkey-basedÜlker and possibly a range of companies in neighbouring Russia, are likely to scale up investment, particularly with much of emerging Europe no longer as attractive on the consumer side following the global financial crisis.

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SUMMARY REPORT THE 4TH MINING AND EXPLORATION FORUM MINEX CENTRAL ASIA 2013

April 25, 2013

MINEX Central Asia 2013 – the 4th Mining and Exploration Forum was held from 16 to 18 April 2013 in Astana, Republic of Kazakhstan. The Forum was organised with the official support of the Ministry of Industry and New Technologies of the Republic of Kazakhstan under the key theme "Promoting partnerships, diversification and investment."

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KEGOC’s shares be placed on People’s IPO in the second quarter of 2013

March 25, 2013

KEGOC'sThe shares of KEGOC JSC will be placed on People’s IPO in the second quarter of 2013, Kairat Kelimbetov, Deputy Prime Minister, said at the meeting, dedicated to the 2nd echelon companies joining the stock market within the framework of the People’s IPO program, BNews.kz correspondent reports.

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Cooperation with JSC «Samruk-Kazyna» group of companies

March 22, 2013

Investment activity of the Company is mainly focused on establishment of the long – term cooperation between current and/or potential local manufacturers and Fund’s companies. This will allow to assure sustainable demand for products and services, which in turn will assist in creation of new competitive production plants in Kazakhstan. Therefore, the Company acts as an accelerator of cooperation between Fund’s companies and private sector.

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Gold may increase in prices to 2 thousand USD per ounce

January 29, 2013

Bloomberg reports that gold may increase in prices to 2000 US dollars per ounce but it is not going to happen soon. The price for gold will reach 1830 US dollars per ounce by the end of this year.

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Kazakhstan ranked second in terms of growth rates of real estate in CIS

January 29, 2013

Kazakhstan occupies second place among four largest countries of the CIS according to the growth rates of the housing construction and third place on the amounts of housing. KazRielt Real Estate reports that Ukraine was inferior to Kazakhstan on the growth rates of housing construction but was superior on its amount.

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Kazakhstan to introduce electronic registry of prices

January 29, 2013

Kazakhstan is to establish an electronic registry of prices. This project, developed together with the World Bank, is expected to be introduced first in Almaty and Astana. Later on, the project will be commissioned in other cities of the country. It will be providing quicker and more reliable information concerning the prices of goods and will minimize the effects of human errors.

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EBRD retains Kazakhstan’s 6 percent GDP growth forecast in 2013

January 28, 2013

In Kazakhstan, GDP growth decreased from 7.5 percent in 2011 to 5 percent in 2012, due to the problems of external factors. It is expected that the GDP growth will recommence in 2013 due to the introduction of Kashagan’s new phase.

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Kazakhstan and Russia discuss new Treaty of Good-Neighbourliness and Alliance Cooperation

January 26, 2013

During the meeting with Russia’s Foreign Minister Sergei Lavrov in Moscow his Kazakh counterpart Yerlan Idrissov has announced that Kazakhstan presented a new Treaty of Good-Neighborliness and Alliance Cooperation in the 21st century.

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Prime Minister sets tasks for Oil & Gas Minister

January 26, 2013

At a Monday meeting of the Ministry of Oil and Gas, the Prime Minister of Kazakhstan Serik Akhmetov announced that in April 2013, the country planned to begin the construction of the Tobol-Kokshetau-Astana pipeline, which would supply northern regions of the country with natural gas.

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Gold market of Kazakhstan

January 26, 2013

Citizens of Kazakhstan, whose wealth and solvency are growing, have begun to buy jewellery more often than they did during the crisis. According to some estimates, the turnover of domestic jewellery market amounts to 150-300 million US dollars. The main part of the market is represented by products for the middle class, but not by exclusive handicrafts.

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Engineering laboratory of Eurasian National University develops new projects

January 21, 2013

The Eurasian National University believes that innovations can serve as strong impetus to the development of scientific innovations and local science has enough potential for it.

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Business Brunch within KBF2012 with participation of Academicians and Professors from UK’ s top Universities

October 19, 2012
Business Brunch  within KBF2012Business Brunch  within KBF2012Business Brunch  within KBF2012
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“The resource curse, the financial crisis and Kazakhstan’s long-term strategy”- The Lecture at the London Business School delivered by Deputy Prime Minister of Kazakhstan Kairat Kelimbetov

October 19, 2012

On the 19th of October the Deputy Prime Minister of Kazakhstan, Kairat Nematovich Kelimbetov, delivered a lecture at the London Business School on the topic: “The resource curse, the financial crisis and Kazakhstan’s long-term strategy”. Organised by the Kazakh–British Chamber of Commerce in cooperation with London Business School’s Energy Club, the event was attended by Kazakh and international students from top UK Universities including the LBS, Cambridge, Oxford, Warwick, UCL, Imperial College, King’s College, CITI, and others.

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Samruk-Kazyna. STATE-OWNED ENTERPRISES: KAZAKHSTAN’S CASE

October 10, 2012

To look and save presentation…

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