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News: Friday, May 19, 2017 -- Issue 2740 http://www.newsline.kz/rss/

Article of the Day

Kazakh FM: Date of Caspian states’ summit depends on convention’s readiness
    The timing of the summit of the Caspian littoral states in Kazakhstan depends on the degree of readiness of the convention on the legal status of the Caspian Sea, Kazakhstan’s Foreign Minister Kairat Abdrakhmanov said on May 18.
    "The summit of the Caspian states is planned for adoption of the long-awaited convention on the legal status of the Caspian Sea. We will soon agree on a comprehensive document that will regulate the legal status of the Caspian Sea at the expert level," Abdrakhmanov said at a press conference, TASS reported.
    The legal status of the Caspian Sea has remained unsolved during the past two decades, preventing development and exploitation of its disputable oil and gas fields and creating obstacles to the realization of major projects.
    In the near future "it is planned to meet at the expert level and at the level of special envoys and special representatives in Ashgabat," according to the minister.
    "After that, the Council of Foreign Ministers of the Caspian states will be convened in Ashgabat. And then, as the convention on the legal status of the Caspian Sea is ready, the specific date for the next summit of the leaders of the five Caspian Sea states will be determined,” he said.
    The Caspian Sea is surrounded by the five coastal countries of Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan. The Sea has a total surface area of 371,000 km², holding 78,200 cubic km of water.
    Russia, Kazakhstan, and Azerbaijan hold to the principle of dividing into national sectors based on the “median line” principles since it is an international boundary lake, and leaving the sea surface for general use, i.e. they are for demarcation of mineral resources and the Caspian Sea shelf, but against dividing up its waters.
    Iran seeks an equal division of the Caspian into 5 even sectors, mainly because most of the offshore energy resources are located away from the Iranian coastline. Turkmenistan also demands the division of the Sea into equal parts between the pre-Caspian countries so that each country has 20 percent of the sea.
    The Caspian littoral states signed a Framework Convention for the Protection of the Marine Environment of the Caspian Sea in November 2003.
    By Kamila Aliyeva for AzerNews.

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Kazakhstan General

Kazakhstan getting ready for next round of Syria talks
    Kazakhstan’s Foreign Ministry is actively preparing for a high-level international meeting on the settlement in Syria scheduled for mid-July, Kazakh Foreign Minister Kairat Abdrakhmanov told reporters ...
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Cold snap expected in 5 regions of Kazakhstan on Friday
    Inclement weather will persist in some parts of Kazakhstan today. Rains, hail, fog and stiff wind are expected across the country, Kazinform has learned from Kazhydromet.
    Wind ...
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Expo-2017

Turkish travel agencies have a great interest in Astana EXPO 2017
    According to experts, the exhibition in Astana opens up new opportunities in mastering the energy of the future. The participating countries will not only discuss scientific ...
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Alexander Vinokurov sponsored a project of Monaco pavilion at EXPO 2017
    Olympic champion, general manager of the cycling team "Astana Pro team" Alexander Vinokurov became a sponsor of one of the projects, which will be presented in ...
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Oil and Gas Sector

Aiming to lift production, Kazakhs may not play along with OPEC cuts
    While many oil producers part of the OPEC/non-OPEC agreement to curb production have already stated their support to the deal extension for another nine months, Kazakhstan ...
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Kazakhstan's Kashagan oilfield expected to produce 5 million tons of oil
    The Minister of Energy of Kazakhstan, Kanat Bozumbayev, announced the projected volumes of oil production at the three largest deposits in the country in 2017.
    "This year ...
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SOCAR, Uzbekneftegaz to jointly develop oil & gas fields
    The state energy companies of Azerbaijan and Uzbekistan have agreed to jointly develop oil and gas fields.
    SOCAR President Rovnag Abdullayev and Chairman of the Board of ...
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Med crude-Urals at 22-month highs in northwest Europe on lower June supply
    Urals crude differentials BFO-URL-NWE in northwest Europe rose to the highest level since July 2015 on an expected shortage of supplies in June due to works ...
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Oil prices add to gains, but choppy trade expected ahead of OPEC meeting
    Oil prices traded slightly higher on Thursday, adding to the previous session’s advance on upbeat U.S. inventory data, but the commodity is still expected to face ...
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Gazprom: Alexey Miller speaks at CNPC’s roundtable on oil and gas cooperation as part of Belt and Road Forum
    A roundtable on oil and gas cooperation was held today by China’s CNPC at the Belt and Road International Forum in Beijing. The event was attended ...
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What future for gas?
    Government intervention can make, or break, the prospects for gas, panellists at the launch of “The Future of Gas” report, on May 16 said.
    While UK ...
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Finance and Investment

Three emerging markets that stand out
    A number of emerging markets offer fixed income investors attractive longer-term returns thanks to a combination of the yields they offer and the prospects for their ...
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Sultanov explains non-use of KZT146bn of budgetary funds by governmental structures in 2016
    Kazakh Minister of Finance Bakhyt Sultanov has explained why 146 billion of the budget funds was not utilised in 2016, Kazinform correspondent reports.
    "Nearly KZT146bn of the ...
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The World Bank improved the outlook on Kazakhstan's economy growth in 2017
    According to the published report, the real GDP growth of the country in 2017 will be at 2.4% (in previous report on global economic prospects, the ...
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Kazakh state budget figures in 1Q2017 have improved, but there are several issues of concern
    Increased economic activity, in particular, in the commodity sector is reflected in the improvement of revenues of the State budget in the first quarter of this ...
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KASE day session: USDKZT_TOD = 313.53
    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

Orsu Metals Corporation acquires initial 30% Sergeevskoe gold project; phase 1 programme underway
    Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) is pleased to announce that it has closed the purchase of the initial 30% interest in Sibzoloto ...
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Mining starts at new Kazakhstan chrome deposit
    Ferrochrome producer Eurasian Resources Group (ERG) has started mining a new chrome deposit with mineable reserves of more than three-million tons, the company said in a ...
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Polymetal International price target raised to GBX 1,195
    Polymetal International PLC (LON:POLY) had its price target lifted by Panmure Gordon from GBX 1,192 ($15.39) to GBX 1,195 ($15.43) in a research note issued to ...
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Azerbaijan’s metal production jumps
    The metallurgical industry and metalworking enterprises in Azerbaijan produced goods worth 170.5 million manats (over $100 million) in January-April 2017, the State Statistics Committee reported.
    The volume ...
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Copper tumbles to one-week low on Trump uncertainty
    Copper prices tumbled to one-week lows on Thursday as uncertainty about U.S. President Donald 's future undermined expectations of a boost to infrastructure spending in the ...
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Aluminum prices hold their ground with more upside expected
    The LME’s best performing base metal year-to-date, aluminum, was little changed on Thursday. Although its recent movement has been anemic, it is actually positive with the ...
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Gold edges lower after biggest rally since Brexit vote
    Gold eased on Thursday as a bounce in the dollar prompted some buyers to cash in gains after its biggest one-day rally in nearly a year, ...
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Trade and Consumer Goods

OECD Paris meeting: Deputy Agriculture Minister tells about financing agribusiness in Kazakhstan
    Kazakhstan follows the OECD recommendations in finance agribusiness given after the Organization's country review conducted in 2013, said Deputy Minister of Agriculture Gulmira Issayeva during the ...
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Kazakh beekeepers to export honey to China
    Kazakhstan and China signed the protocol on inspection, quarantine and sanitary requirements for honey exported from Kazakhstan to China during President Nursultan Nazarbayev’s official visit to ...
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Strat Grains cuts hopes for EU wheat, barley harvests
    The process of putting numbers on Europe's crop production losses to cold and dry weather began in earnest as Strategie Grains cuts its grains harvest forecasts, ...
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Brazil bribe scandal sends agro-commodity prices tumbling
    If anyone still needed persuading of the influence of Brazil on agricultural commodity markets, Thursday provided conclusive proof.
    The focus of the world's political news moved ...
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Kazakhstan and China to build plant for soda ash production
    Araltuz, a company based in Kazakhstan, and Chinese Qinghai Soda Desheng AshIndustrial Co. Ltd signed an agreement to establish a joint venture for the production of ...
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Kazakhstan Q1 foreign trade surplus rises to $4.8 bln
    Kazakhstan's foreign trade surplus widened to $4.8 billion in the first quarter from $3.1 billion in the same period last year, the National Statistics Committee data ...
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Communications and Transportation

EAEU digital agenda discussed in Moscow
    First Deputy Prime Minister of Kazakhstan Askar Mamin has attended a regular session at the Council of the Eurasian Economic Commission in Moscow, according to primeminister.kz.
    The ...
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Kazakhstan aviation market: growth slows & competition intensifies as Air Astana prepares for IPO
    Traffic growth in Kazakhstan has slowed significantly due to a sluggish economy and currency depreciation impacting local demand. Passenger traffic in Kazakhstan increased by only 1% ...
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Turkish Atlas Global launches Astana to Istanbul Flights
    Turkish air carrier Atlas Global (former Atlasjet) launched April 28 direct Astana to Istanbul flights. The flights will be carried out twice a week on Tuesday ...
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Kazakhstan, Russia to cooperate in aviation searches and rescues
    Kazakhstan’s lower house of Parliament (Mazhilis) recently ratified an intergovernmental agreement with Russia to cooperate in aviation searches and rescues, according to Sputnik Kazakhstan.
    “Today, through the ...
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Train schedule will change in Kazakhstan from June 1
    The schedule of train traffic will change from June 1, Kazpravda.kz reports with reference to the press service of the JSC "Passenger transportation".
    The timetable will be ...
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Roaming medical trains provide care to more than 6,500 residents of remote regions
    Approximately 6,500 residents in the Karagandy and Mangystau regions have received medical treatment from medical trains at more than 30 stations since the first train began ...
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EEC Council pushes for electronic vehicle passports in EAEU
    The Council of the Eurasian Economic Commission (EEC) reiterated the need during its session on 17 May of introducing a system of electronic vehicle passports in ...
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Kazakhstan to spend KZT 150 bln on digitalisation in 5 years
    Kazakhstan plans to spend more than KZT 150 billion on its state programme 'Digital Kazakhstan' in the period 2017-2021, reports Profit.kz. It intends to spend KZT ...
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Real Estate

Over 1000 unused land plots found in Astana
    For five years in Astana 1084 unused land plots with a total area of 16 thousand hectares were revealed, Kazpravda.kz reports with reference to the site ...
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People and Professional Development

Nazarbayev relieved Johan Merkel of deputy prosecutor position
    The President of Kazakhstan has released Johan Merkel from the post of Deputy Prosecutor General, Kazpravda.kz reports with reference to the Akorda website.
    By the President’s decree, ...
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Culture and Society

Almaty: what to do in Kazakhstan’s cultural capital
    This year, Kraków’s Unsound festival will be coming to Kazakhstan for the first time for a special two-day event in Almaty. To celebrate, here are some ...
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Regional News

Pilot zones for Made in China 2025 slated to open
    China will open a series of pilot zones to press ahead the Made in China 2025 strategy, Premier Li Keqiang said at a State Council executive ...
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China’s Bond Connect to fortify domestic issuance market
    Global bond fund managers welcomed the approval of launching northbound trading of the Bond Connect, saying this is a progressive and incremental step to open the ...
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Investment in Russian economy moves into positive territory — PM Medvedev
    The dynamics of investment in the Russian economy moves into a positive territory, Prime Minister Dmitry Medvedev said on Thursday at a government meeting.
    "Domestic demand will ...
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Italy eyeing wind power projects in Russia
    Italy is interested in promoting wind power projects in Russia, President Vladimir Putin said after talks with Italian Prime Minister Paolo Gentiloni.
    He noted that Russia and ...
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‘Made in Russia’ label to promote national delicacies worldwide
    Russia’s Agriculture Ministry is hammering out a game plan for building up sub-brands of locally-made food products, like ham and tequila, and promoting them on international ...
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Russian state-owned firms ditching foreign software
    As part of the import substitution program, Russia’s largest corporations, among them Transneft, Russian Railways, Rusnano, Alrosa, Rostec, are sharply cutting back their share of foreign ...
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Kyrgyzstan pro-presidential party chooses PM Jeenbekov as presidential candidate
    The pro-presidential Social Democratic Party of Kyrgyzstan (SDPK) has recommended Prime Minister Sooronbai Jeenbekov as the party’s candidate for the presidential election due to be held ...
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Uzbekistan to launch production of fiber-optic cable
    Uzbekistan plans to launch a plant on production of fibre-optic cable, acting Minister of Development of Information Technologies and Communications of Uzbekistan Sherzod Shermatov said.
    He ...
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Bunker found with bags of money, gold and 6 cars belonging to employee of anti-corruption agency in Tajikistan
    Employees of the State Committee for National Security of Tajikistan discovered a bunker containing bags of money, gold, precious stones and 6 Jeep cars belonging to ...
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Afghanistan: 102 militants killed after TV station raid
    One day after a deadly attack on state-run TV by Daesh militants, Afghan security forces claim to have killed 102 militants, including 15 pro-Daesh militants, across ...
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Prices and Statistics

Commodities
    

Date: May 19, 2017; Source: Bloomberg.com

Energy

Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/bbl. 49.83 +0.48 +0.97% Jun 2017 1:28 AM
USD/bbl. 52.95 +0.44 +0.84% Jul 2017 1:28 AM
USd/gal. 161.36 +0.73 +0.45% Jun 2017 1:15 AM
USD/MMBtu 3.20 +0.02 +0.57% Jun 2017 1:28 AM
USd/gal. 155.86 +1.33 +0.86% Jun 2017 1:18 AM
 
Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/t oz. 1,247.70 -5.10 -0.41% Jun 2017 1:28 AM
USD/t oz. 1,248.94 +1.87 +0.15% N/A 1:38 AM
USD/t oz. 16.62 -0.05 -0.33% Jul 2017 1:28 AM
USd/lb. 253.75 +0.60 +0.24% Jul 2017 1:28 AM
USD/t oz. 930.60 -2.28 -0.24% N/A 1:38 AM
Index Units Price Change %Change Contract Time (EDT) 2 Day
USd/bu. 367.25 +1.25 +0.34% Jul 2017 1:28 AM
USd/bu. 428.25 +2.50 +0.59% Jul 2017 1:25 AM
USD/MT 2,084.00 +30.00 +1.46% Jul 2017 5/18/2017
USd/lb. 79.41 +0.17 +0.21% Jul 2017 1:12 AM
USd/lb. 119.65 +0.83 +0.69% Aug 2017 5/18/2017
 

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Exchange Rates
    

Date: May 19, 2017; Source: the National Bank of Kazakhstan

1 USD KZT 313.54 1 CHF

KZT 320.13

1 CNY

KZT 45.5

1 TRY KZT 86.23 1 JPY KZT 2.84
1 EUR

KZT 348.63

1 AUD

KZT 232.71

1 KGS KZT 4.63 100 UZS KZT 8.28 1 BYN KZT 168.07
1 GBP KZT 408.79 1 CAD KZT 229.48 1 RUB KZT 5.42 100 KRW KZT 27.84 1 UAH KZT 11.89

 

 

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