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News: Friday, February 24, 2017 -- Issue 2687 http://www.newsline.kz/rss/

Article of the Day

Putin to visit Kazakhstan, Tajikistan, and Kyrgyzstan on February 27–28
    Russian President Vladimir Putin will meet with President of Kazakhstan Nursultan Nazarbayev in Almaty on February 27. The two presidents are expected to discuss current bilateral cooperation in trade and the economy, culture and the humanitarian sector, energy and outer space, and also key issues on the international agenda. The two leaders will also examine some aspects of further steps in the Eurasian integration process, Kremlin website reported.
    The same day, Mr Putin will make an official visit to Dushanbe at the invitation of President of Tajikistan Emomali Rahmon. Mr Putin and Mr Rahmon will exchange views on the outlook for trade, investment, cultural, science and education cooperation between Russia and Tajikistan, and will discuss a number of regional issues. A package of bilateral agreements will be signed following the talks.
    On February 28, the President will make an official visit to Bishkek at the invitation of President of Kyrgyzstan Almazbek Atambayev. The two presidents will discuss a broad range of bilateral cooperation matters in the political, economic and humanitarian areas, and also the prospects for expanding cooperation within the Eurasian Economic Union.
    Reported by Vestnik Kavkaza.

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Kazakhstan General

Kazakh delegation attended Munich security conference
    Kazakhstan's main priority as a non-permanent member of the UN Security Council is to stop nuclear weapons proliferation. This was announced by the Kazakh Senate Speaker ...
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Kazakhstan launches first ODA project in Afghanistan, with support from UNDP and Japan
    A Kazakh delegation presented the country’s first official development assistance (ODA) project to the Afghan government Feb.12-17 in Kabul.
    The project seeks to strengthen the economic independence ...
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EAEU gives positive assessment on Kazakh reforms
    Kazakhstan’s third modernisation program takes into account global economic processes. The head of the Business Council of the Eurasian Economic Union and the former Russian vice ...
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Ex-deputy chairman of Kazakhstan Engineering arrested
    Former deputy chairman of the Kazakhstan Engineering company, Kanat Sultanbekov, has been arrested, the press service of the Astana court said Thursday.
    "Kanat Sultanbekov has been taken ...
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Expo-2017

BIE officials, EXPO 2017 organisers, commissioners meet in Astana
    The Kazakh capital hosted Feb. 22-23 the EXPO 2017 third international participants’ meeting, the main and final event on the eve of the international specialised exhibition.
    Three ...
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Oil and Gas Sector

Ukraine to participate in EXPO-2017
    Ukraine has signed an agreement to participate in the international exhibition EXPO-2017 in Astana, Kazinform reports citing the secretariat of the EXPO-2017 Commissioner.
    Today, within the framework ...
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Kazakhstan reveals oil production forecast for 2017
    Resource-rich Kazakhstan has set its oil production forecast for 2017 at the level of 81 million tons. Economy minister of the country Timur Suleymanov said that ...
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Kazakhstan eyes breakthrough in hydrocarbon sector
    Kazakhstan will increase oil production this year. According to the Kazakh energy Minister, it will reach 81 million tons of oil. According to Kanat Bozumbayev, last ...
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Sumatec to expand Kazakh oil and gas facilities
    Sumatec Resources Bhd is ready to embark on a three-year development plan to ramp up the production of its Rakushechnoye oil and gas field in Kazakhstan ...
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ExxonMobil announces 2016 reserves
    Exxon Mobil Corporation (NYSE:XOM) announced proved reserves were 20 billion oil-equivalent barrels at year-end 2016, inclusive of a net reduction of 3.3 billion oil-equivalent barrels from ...
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Oil prices up but gains pared after 7th straight stock build
    Oil prices rose but gains were pared Thursday after U.S. government data showed a seventh straight build in crude stocks, suggesting high inventories could undermine OPEC's ...
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Why a weaker dollar won’t boost oil prices
    The U.S. dollar, along with a variety of other factors, used to be an important component in deciding the direction of oil prices. This was true ...
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Finance and Investment

OECD to hold Eurasia Week in Almaty for the first time
    This year for the first time in the history of OECD the Eurasia Week will take place in Almaty, Kazinform correspondent reports with reference to the ...
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Expert consults citizens on IPO investments as privatisation advances
    Forex Club information and analysis centre head Nikolai Ivchenko has advised citizens to invest funds intelligently when purchasing national companies’ shares at initial public offerings (IPOs), ...
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ATF Bank reports results over the first three quarters of 2016
    During 9M2016 net interest income increased by 34% y/y. The bank's assets increased by 11% since the beginning of the year, liquid assets increased by 54% ...
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Development Bank of Kazakhstan backs construction of Turgusunskaya Hydro Power Plant in East Kazakhstan region
    Development Bank of Kazakhstan (Astana), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with a press release to announce "the project ...
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EBRD doubled its investments in EK’s infrastructure
    This year, European Bank for Reconstruction and Development will make twice more investments in infrastructure development of East Kazakhstan, in comparison with the previous year, regional ...
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Terms of loan agreement with international organizations to reduce by half
    Terms of the loan agreement with international organizations will reduce by half. This was announced by Minister of National Economy of Kazakhstan Timur Suleimenov at the ...
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Metals and Minerals

KAZ Minerals’ Bozymchak license for development of Sary-Kamysh sand and gravel deposit revoked
    Licensing Commission has revoked the license of the KAZ Minerals Bozymchak company for the development of the Sary-Kamysh sand and gravel deposit in Kyrgyzstan. The decision ...
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KazMinerals announces results over 2016
    Highlights:
    • Gross EBITDA1 of $492 million (2015: $208 million) driven by Bozshakol and Aktogay
    – EBITDA of $351 million (2015: $202 million), excludes pre-commercial earnings
    – Operating profit ...
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Trade and Consumer Goods

E-commerce gains momentum in Kazakhstan
    E-Commerce is developing rapidly in Kazakhstan. According to experts, this sector’s output increased by 20% last year. Kazakhstan is negotiating with China on expanding the e-Commerce. ...
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Kazakhstan exported over 5 mln tonnes of grains and flour – Ministry of Agriculture
    Since the beginning of the current marketing year, Kazakhstan already supplied more than 5.3 mln tonnes of grains and flour on foreign markets, declared the Ministry ...
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Kazakhstan. Temperature swings and uneven snow cover distribution endanger winter crops
    During February 1-10, air temperatures in the south and southeast of Kazakhstan were 1-6˚C below normal, while precipitation was mostly above normal.
    The alternation between a 3-6-day ...
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Soyabean prices slump on record US acres forecast
    Grain futures slumped, as funds pulled back, and US soyabean sowings were forecast at a record high.
    The USDA at its annual outlook conference, forecast US soyabean ...
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Rabo sanguine on cocoa, soy, wheat prices - but cautious on cotton
    Rabobank lifted its forecast for wheat futures, and flagged potential for soybean price gains, in a briefing which saw cotton values easing ahead – despite Chinese ...
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Communications and Transportation

Employee of KazAvtoZhol detained for bribery
    In Petropavlovsk, the head of the regional branch of JSC National Company KazAvtoZhol Zhankin was detained for a bribe, Kazpravda.kz reports citing the press service of ...
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Uzbekistan interested to join Trans-Caspian transport route
    Kazakhstan Temir Zholy (Kazakh railways) and O’zbekiston temir yo’llari (Uzbek railways) discussed the possibility of Uzbek export and import through Kazakh ports of Aktau and Kuryk ...
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Kazakhstan, Uzbekistan agree on tariff discounts for railway export transit
    On February 22 in Tashkent, in the framework of the upcoming 16th session of the Joint Intergovernmental Commission on cooperation between Kazakhstan and Uzbekistan, the President ...
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Astana Airport terminal construction nears completion
    The project to build a new 60.2 billion tenge (US$188.7 million) terminal for the capital’s airport is being implemented. However, the terminal construction requires 20 billion ...
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Kazakhstan builds 'cyber shield' to counter recruiting and propaganda
    Kazakhstan is developing a cyber-security planning document, or "kontseptsiya", to combat extremist recruiting and propaganda online, Kazakhstani Defence and Aerospace Industry Ministry officials told Caravanserai.
    The ...
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Pharmaceutical and Healthcare News

RK Health Ministry holds press conference on health insurance
    RK Health Minister Elzhan Birtanov has held a press conference on compulsory health insurance, Kazpravda.kz reports.
    In the morning, the Health Minister and Astana Mayor Aset Issekeshev ...
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Kazakhstan to regulate drug prices in retail market
    To date, we studied international experience and developed amendments to the Code of Kazakhstan "On people's health and health care system," said Minister of Health Yelzhan ...
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Sports

2017 Asian Winter Games: Vishnevskaya, Raikova win gold and bronze
    Kazakhstani biathletes Galina Vishnevskaya and Alina Raikova won gold and bronze in 7.5 km sprint race at the 2017 Asian Winter Games in Sapporo, Sports.kz reports.
    Yang ...
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Regional News

January mining output increases more than twice in Kyrgyzstan
    Kyrgyzstan's January mining output increased more than twice and totaled C 1.291 billion.
    In monetary terms, the mining output totaled C 14,793.4 billion. Without the Kumtor ...
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Glencore ready to pay out, snap up assets after profit rebound
    Commodities trader and miner Glencore reported an 18 percent rise in 2016 profit on Thursday, buoyed by a rebound in raw material prices, and said ...
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Copper tumbles as Chinese demand worries resurface
    Copper prices tumbled on Thursday as worries about demand in top consumer China resurfaced after the country's housing minister suggested moves were afoot to stabilise the ...
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Glencore sees zinc, nickel, copper price rally continuing
    Miner and commodities trader Glencore (LON:GLEN) produced some stellar results on Thursday and the Switzerland-based company also provided a positive outlook for 2017, particularly for its ...
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Gold pushes to 3.5-mo. high on safe-haven buying, weaker greenback
    Gold prices ended the U.S. day session with solid gains and notched a 3.5-mongh high Thursday. Silver prices also hit a 3.5-month high. Buy stops in ...
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China’s economy seen to stabilise; gains momentum for 2017
    China's economy is expected to maintain an "L shape," and may later transition from a steep drop to a relatively steady one.
    This was the forecast ...
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Uzbek FEZ Angren develops infrastructure
    About 22 infrastructure projects will be realised in the Free Economic Zone “Angren” in 2017.
    About 52 billion soum of public funds will be allocated to ...
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Uzbekistan and Belarus to jointly produce confectionery
    Uzbekistan has reached an agreement with the Kommunarka company of Belarus to set up a joint venture for production of confectionery and pasta in Uzbekistan, the ...
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January textile output 27.4% down in Kyrgyzstan
    In January 2017, textile manufacturing output in Kyrgyzstan decreased by 27.4%, as reported by the National Statistics Committee.
    The volume of production of manufacturing industries amounted to ...
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High-ranking Tajik police official suspected of large-scale fraud
    A high-ranking police official holding the rank of lieutenant-colonel is suspected of a large-scale fraud.
    According to the Agency for State Financial Control and Combating Corruption, criminal ...
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Prices and Statistics

Commodities
    

Date: February 24, 2017; Source: Bloomberg.com

Energy

Index Units Price Change %Change Contract Time (EST) 2 Day
USD/bbl. 54.45 0.00 0.00% Apr 2017 12:28 AM
USD/bbl. 56.61 +0.03 +0.05% Apr 2017 12:18 AM
USd/gal. 152.50 -0.36 -0.24% Mar 2017 2/23/2017
USD/MMBtu 2.61 0.00 -0.15% Mar 2017 12:26 AM
USd/gal. 165.30 -0.37 -0.22% Mar 2017 2/23/2017
 
Index Units Price Change %Change Contract Time (EST) 2 Day
USD/t oz. 1,250.90 -0.50 -0.04% Apr 2017 12:27 AM
USD/t oz. 1,249.92 +0.36 +0.03% N/A 12:37 AM
USD/t oz. 18.24 +0.06 +0.30% May 2017 12:23 AM
USd/lb. 267.35 +1.45 +0.55% May 2017 12:27 AM
USD/t oz. 1,012.45 +2.84 +0.28% N/A 12:37 AM
Index Units Price Change %Change Contract Time (EST) 2 Day
USd/bu. 372.25 -0.25 -0.07% May 2017 12:27 AM
USd/bu. 451.50 -2.00 -0.44% May 2017 12:28 AM
USD/MT 2,026.00 +31.00 +1.55% May 2017 2/23/2017
USd/lb. 76.44 +0.34 +0.45% May 2017 12:26 AM
USd/lb. 116.53 +0.45 +0.39% Apr 2017 2/23/2017
 

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Exchange Rates
    

Date: February 24, 2017; Source: the National Bank of Kazakhstan

1 USD KZT 312.65 1 CHF

KZT 309.52

1 CNY

KZT 45.47

1 TRY KZT 87.41 1 JPY KZT 2.76
1 EUR

KZT 329.6

1 AUD

KZT 240.4

1 KGS KZT 4.52 100 UZS KZT 9.47 1 BYN KZT 167.1
1 GBP KZT 389.75 1 CAD KZT 238.49 1 RUB KZT 5.39 100 KRW KZT 27.49 1 UAH KZT 11.62

 

 

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