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News: Friday, May 27, 2016 -- Issue 2502 http://www.newsline.kz/rss/

Article of the Day

President Nazarbayev offers ambitious proposals at Astana Economic Forum
    On May 25 and 26, Astana hosted the annual Astana Economic Forum on May 25 and 26.
    World renowned experts, politicians, the heads of financial institutions and international organizations are now in attendance. Also present are several Nobel Prize winners and scientists.
    The events main theme is: The New Economic Reality: Diversification, Innovation and the Knowledge Economy.
    Several sessions have been devoted to the development of the financial and banking sector, monetary policy and a possible return to a capital control regime, the forum’s website says.
    President Nursultan Nazarbayev proposed a number of global initiatives during the forum.
    He suggested establishing a Human Capital Development Fund under the aegis of the UN to improve the quality of education and healthcare in the poorest countries.
    “Today, according to experts, between $30 trillion and $40 trillion is being kept on offshore accounts. Th eintroduction of an at least one-percent global tax on those assets would make it possible to improve education and healthcare in developing countries to a qualitatively new level,” a presidential press release quoted Nazarbayev as saying.
    “Money from this tax could be directed to the above-mentioned Human Capital Development Fund. I do believe the International Monetary Fund and the World Bank must step up with effective measures to de-offshorize the global economy.”
    Nazarbayev also suggested a roadmap for the development of a green economy and the rational use of natural resources.
    “It (the roadmap) should not only provide for a reduction in harmful emissions into the atmosphere, but also measures to preserve the soil, freshwater, and the biosphere. At the same time, not only states but also global corporations must assume obligations [to do so],” he said, accoding to the Times of Central Asia.

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Kazakhstan General

Kyrgyz, Kazakh foreign ministries hold political consultations
    The foreign ministries of Kazakhstan and Kyrgyzstan held political consultations on May 25 in Astana, the Foreign Ministry of Kyrgyzstan has said.
    The consultations were held as ...
     Full text available for subscribed users...

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Oil and Gas Sector

Kazakhstan seeks to stabilize oil production, looking for investors
    On May 24, Kazakhstan’s Energy Minister Bozumbayev stated that the country expects its crude oil production to stabilize in 2017 with an outlook of further growth.
    Despite ...
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KMG EP won't pay dividend for 2015
    By Elena Kosolapova
    KazMunaiGas Exploration Production JSC (KMG EP), one of the top three Kazakh oil producers, will pay no dividend on ordinary shares for 2015, the ...
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No decision yet on Tengiz financing
    By Elena Kosolapova
    The Wellhead Pressure Management Project / Future Growth Project (WPMP / FGP), which will make it possible to significantly increase oil production at the ...
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EBRD to finance Kazakh gas projects
    By Elena Kosolapova
    The European Bank for Reconstruction and Development (EBRD) will provide up to 294 million euros in local currency equivalent for two ground-breaking projects to ...
     Full text available for subscribed users...

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Joining TANAP profitable for both Kazakhstan, Turkmenistan
    By Fatma Babayeva
    Kazakhstan is very interested in diversifying transport routes exporting its energy resources to the global market.
    Rahman Alshanov, Rector at Turan University of Kazakhstan told ...
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Nostrum Oil and Gas (NOG) published neutral Q1 2016 financial results
    By Gulmariya Zhapakova
    Q1 2016 revenue went down by 26.3% year-on-year to $73.9 million, largely due to the fall of oil Brent prices by 37% year-on-year to ...
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Reach Energy aims to conclude O&G field acquisition in Kazakhstan by year-end
    Reach Energy Bhd aims to conclude its acquisition of onshore oil and gas (O&G)-producing fields in Kazakhstan by year-end.
    Managing Director/Chief Executive Officer Shahul Hamid Mohd Ismail ...
     Full text available for subscribed users...

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Finance and Investment

Kazakhstan tees up asset selloff to raise more than $6 billion
    By Nariman Gizitdinov
    The countdown is on for the biggest wave of privatization in the history of Kazakhstan.
    Authorities are targeting proceeds at more than $6 billion to ...
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EBRD to finance new Kazakh projects for 350 million euros
    By Elena Kosolapova
    The European Bank for Reconstruction and Development (EBRD) is signing projects worth over 350 million euros in Kazakhstan this week with investments that improve ...
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Kazakh central bank forecasts 2016 inflation
    The National Bank of Kazakhstan forecasts inflation at a level no higher than 8 percent in 2016, the bank's Chairman Daniyar Akishev says.
    He made the remarks ...
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Kazakhstan places special importance on bilateral ties with Azerbaijan
    President Nursultan Nazarbayev has congratulated Azerbaijan's President Ilham Aliyev on the occasion of Republic Day.
    "I heartily congratulate you on the occasion of the great holiday of ...
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EBRD allocates ˆ15 million loan for FoodMaster
    The European Bank for Reconstruction and Development (EBRD) is supporting a a new agriculture and food production project in Kazakhstan to promote private sector participation in ...
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Kazakhstanis sold $763 million over first 3 months of 2016, central bank reports
    Kazakhstan citizens have sold more than US $763 million in currency over the first quarter of this year, Deputy Chairman of the Kazakh central bank, Alpysbay ...
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UNDP praises Kazakh green economy policy
    At a press conference during the Astana Economic Forum on May 26, UN Assistant Secretary-General, UN Development Programme (UNDP) Assistant Administrator and Director of the Regional ...
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Trade and Consumer Goods

Nazarbayev, WTO Director-General exchange viewpoints on cooperation, gifts
    Kazakh President, Nursultan Nazarbayev has met with WTO Director-General Roberto Azevêdo to discuss prospects for cooperation, a news release from Ak Orda states.
    Nazarbayev thanked Azevêdo for ...
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Kazakh plant exporting safflower oil
    In the Zhualy District of the Zhambyl Oblast, a safflower production plant has begun to export its product abroad. Specifically, the facility has begun to ship ...
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Regional News

Russia and Saudi Arabia Are Headed for a Showdown
    By Nikolay Pakhomov
    Today, the Middle East is one of three regions that will define world politics for years to come. While the other two—Europe with its ...
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Russia, Pakistan, others block UN access for Committee to Protect Journalists
    Russia, Pakistan, and Azerbaijan were among a group of countries that blocked giving United Nations accreditation to the media freedom watchdog Committee to Protect Journalists.
    A UN ...
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Turkmenistan to expand gas chemical industry
    By Nigar Abbasova
    Turkmenistan is currently engaged in expanding of its positions in gas chemical industry. The country has recently launched implementation of numerous projects in this ...
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Ismayilova says investigations to continue, shrugs off threats
    Investigative reporter Khadija Ismayilova says the Azerbaijani government decided to release her from prison because her detention had become an embarrassment and had failed to frighten ...
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Prices and Statistics

Commodities
    

Date: May 27, 2016; Source: Bloomberg.com

Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/bbl. 49.10 -0.38 -0.77% Jul 2016 12:49 AM
USD/bbl. 49.16 -0.43 -0.87% Jul 2016 12:49 AM
USd/gal. 161.62 -0.33 -0.20% Jun 2016 12:08 AM
USD/MMBtu 2.14 -0.01 -0.37% Jul 2016 12:47 AM
USd/gal. 149.38 -0.75 -0.50% Jun 2016 5/26/2016
 
Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/t oz. 1,216.90 -3.50 -0.29% Aug 2016 12:48 AM
USD/t oz. 1,218.79 -1.01 -0.08% N/A 1:14 AM
USD/t oz. 16.24 -0.11 -0.66% Jul 2016 12:48 AM
USd/lb. 210.85 +0.60 +0.29% Jul 2016 12:48 AM
USD/t oz. 992.20 -1.29 -0.13% N/A 1:14 AM
Index Units Price Change %Change Contract Time (EDT) 2 Day
USd/bu. 408.75 +0.50 +0.12% Jul 2016 12:48 AM
USd/bu. 479.50 -1.75 -0.36% Jul 2016 12:48 AM
USD/MT 2,916.00 -8.00 -0.27% Jul 2016 5/26/2016
USd/lb. 64.34 +0.01 +0.02% Jul 2016 12:47 AM
USd/lb. 115.35 +1.95 +1.72% Aug 2016 5/26/2016
 

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Exchange Rates
    

Date: May 27, 2016; Source: the National Bank of Kazakhstan

1 USD KZT 333.09 1 CHF

KZT 336.45

1 CNY

KZT 50.81

1 TRY KZT 113.49 1 JPY KZT 3.03
1 EUR

KZT 372.46

1 AUD

KZT 240.22

1 KGS KZT 4.87 100 UZS KZT 11.23 100 BYR KZT 1.7
1 GBP KZT 489.78 1 CAD KZT 256.99 1 RUB KZT 5.11 100 KRW KZT 28.24 1 UAH KZT 13.28

 

 

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