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News: Tuesday, August 01, 2017 -- Issue 2791 http://www.newsline.kz/rss/

Article of the Day

Kazakhstan: Moody’s Improves Prognosis for Economy
    The era of economic doom and gloom may be coming to a close in Kazakhstan — at least that’s the assessment of international ratings groups like Moody’s.
    Moody’s earlier this week raised Kazakhstan’s sovereign rating to Baa3 and improved its prognosis from negative to stable, as the economy ministry buoyantly revealed.
    The agency cited the economy’s increasing adaptiveness to low oil prices as a decisive factor for the decision.
    Moody’s was similarly positive in its assessment of the state rescue program for the banking system, which has seen bailouts of up to 500 billion tenge ($1.5 billion). These funds have been used to help lenders with huge bad debt portfolios address their liabilities before international creditors.
    The banking sector has been in a state of almost permanent high dudgeon since the 2008 global financial crisis, which had the knock-on effect of driving some major local lenders to ruin. Trouble reared its head again in 2016, when the slumping price of oil slowed economic growth to just 1 percent — a paltry amount compared to the 10.7 percent rate of growth recorded in 2006.
    Moody’s has argued that the country's low debt burden and an accumulation of financial reserves has permitted the government to apply effective measures to stimulate the national economy and thereby avoid a recession. The agency’s analysts believe that Kazakhstan will in coming years be able to stabilize the assets of the rainy day National Fund at around $60 billion, provided oil remains within the $40-60 corridor.
    As of the end of June, Kazakhstan's gold and foreign currency reserves amounted to $29.8 billion, while the assets of the National Fund stood at $62.1 billion.
    Reported by Eurasianet.

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Kazakhstan General

US base in the Caspian? How Russia can stop Washington’s meddling in Kazakhstan
    Kazakhstan and the US have recently renewed an agreement on military cooperation. Outlining the details of this cooperation, Russian experts consider the impact it will have ...
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National concept provides positive indicators for South Kazakhstan’s tourism development
    Approximately 700,000 tourists have visited Turkestan this year, said Akim (Mayor) of the city Alipbek Usserbayev at a July 24 press conference in the regional capital ...
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Fire breaks out in gorges of South Kazakhstan natural park
    A wildfire has occurred in the gorges of the natural park in Tolebi district, South Kazakhstan region.
    On July 30, 2017 at 15:07 the fire department was ...
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Storm warning issued for Atyrau region
    A storm warning was announced in Atyrau region, the regional branch of Kazhydromet reports.
    On August 1 thunderstorms, hail, strong northwestern, western winds up to 15-20 m/s ...
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Expo-2017

EXPO 2017 boosts retail trade in Astana
    In the first month of the EXPO, the volume of retail trade in Astana grew by 37%. On the whole, the sales of consumer goods in ...
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Gourmet lovers get treat at Expo
    EXPO 2017 attracts not only innovators, but also those who appreciate unusual culinary delights. 14 cuisines of the world presented their unique dishes, specially for gourmets.
    The ...
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GCL showcases intelligent energy concept on "GCL Day" at Astana Kazakhstan Expo 2017
    Golden Concord Group Limited (GCL), a global leading renewable energy solution company, hosted "GCL Day" at the Astana Kazakhstan Expo 2017 on July 30th. The company, ...
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Diamond kingdom holds national day at Astana EXPO 2017
    Citizens of Astana and guests of Expo 2017 international exhibition have discovered another unusual tourist route in Africa. Today, the Kingdom of Lesotho, known for its ...
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EXPO-2017 an amazing place - Dr Walter Steinmann
    Dr Walter Steinmann, former Director of the Swiss Federal Office of Energy, believes that Astana EXPO-2017 is an amazing place, Kazinform reports.
    The ex-Director of the Swiss ...
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Oil and Gas Sector

New Kazakh device to save energy, the Aral Sea
    Aral Sea innovators are integrating science into production. Specialists of the design bureau of one of the Kyzylorda companies have developed a unique system for automatic ...
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Condor Petroleum analysts see $-0.08 EPS
    Analysts expect Condor Petroleum Inc (TSE:CPI) to report $-0.08 EPS on August, 11.They anticipate $0.01 EPS change or 14.29% from last quarter’s $-0.07 EPS. After having ...
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Nostrum Oil & Gas reports increase in first-half revenue
    Nostrum Oil & Gas PLC on Monday reported growth in revenue in the first half of 2017 as it revealed production figures for the second quarter ...
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Italy’s Eni confident of dividend even with lower oil prices
    Italian oil major Eni, one of Kazakhstan’s largest investors and operators, said on Friday its dividend was safe even at lower oil prices thanks to a ...
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Turkmenistan keen on boosting petroleum products industry
    Turkmenistan plans to build several new installations in the petroleum refinery complex of Turkmenistan.
    The country, in a bid to develop the sector, plans to construct ...
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Med crude-Urals stable, market assesses impact of Pernis refinery outage
    Kazakhstaan’s benchmark Urals’ differentials remained stable on Monday as market participants tried to evaluate the impact on the market of an outage at Pernis refinery.
    Royal Dutch ...
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Oil at two-month high, ends above $50 a barrel
    Oil prices rose to two-month highs on Monday, ending the strongest month of the year for crude futures, boosted in part by expectations of U.S. sanctions ...
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Finance and Investment

Kazkommertsbank elects new board of directors
    Shareholders of JSC Kazkommertsbank elected a new board of directors. It will include six people for a term of three years.
    The press service of the bank ...
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KASE day session: USDKZT_TOD = 328.35
    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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Deposits into FSMI amounted to more than 800 mln tenge in July 2017
    The deposits into the fund of social medical insurance (FSMI) amounted to 800 mln tenge in July 2017, said Yelena Bakhmutova, chairfigure of the fund of ...
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National Bank of Kazakhstan conducted interventions to $101 mln in June
    The National Bank of Kazakhstan has conducted interventions to $101 mln in June, said the press-service of the regulator.
    "For limitation of growing tenge volatility the National ...
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Metals and Minerals

Head of ArcelorMittal CIS advised to resolve problems with supplies for Karaganda businessmen
    Prime Minister of Kazakhstan Bakytzhan Sagintayev has advised Paramjit Kahlon, head of ArcelorMittal CIS, to settle the problem of supply of metallurgic products to Karaganda businessmen.
    “We ...
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Polymetal gets ACCA employer status in recognition of “high standards”
    Polymetal International PLC said it has become an ACCA approved employer in “recognition of the company’s high standards for employee professional development, particularly in finance and ...
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Gold hits highest in nearly 7 weeks on struggling dollar
    Gold hit its highest in almost seven weeks on Monday, boosted by a struggling dollar and U.S. economic data that has cast doubt on whether the ...
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Manufacturing industry

London copper cracks new two-year peak after China data, hovers below two-year top
    London copper rallied to its highest since more than two years on Monday after manufacturing data from top user China confirmed growth tempered slightly but stayed ...
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Trade and Consumer Goods

Kazakhstan to increase the exports of agricultural products by 600 mln USD
    Kazakhstan plans to increase the supplies of agro-industrial products on foreign markets by 600 mln USD, declared the First Vice-Minister of Agriculture of the Republic of ...
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Kazakhstan exporting wheat bran to China again
    Wheat bran exports from Kazakhstan turned down in April-May 2017. The country exported some 16.1 KMT of wheat bran in May, or 14% less than in ...
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Kazakhstan reduced import of core food products
    Kazakhstan has reduced the volume of imports in domestic consumption of basic food products, Kazpravda.kz reports.
    "Over January-May 2017 on-year decrease was traced in import of 11 ...
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Kazakh Ministry of Agriculture develops map of agro processing enterprise locations
    The Kazakh Ministry of Agriculture has developed a map of its agro processing enterprise locations in order to boost the sector’s growth and increase import substitution, ...
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The creation of 31 cheese factories is planned in Kazakhstan
    Mini milk processing centers and collection points for agricultural raw materials will be created in accordance with the new programmes of the Ministry of agriculture.
    For the ...
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Hedge funds swing back to buying softs, rather than grains
    Hedge funds lost their preference for grains over soft commodities, as fears over North American wheat crop losses went off the boil, while comfort over supplies ...
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Futures: sugar, coffee in vogue - grains out of fashion
    Funds' reversion to a preference for buying softs over grains, as revealed in investor positioning data late last week, seemed a bit of a theme on ...
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Communications and Transportation

Rail cargo transportation grows 13 percent in first six months of 2017
    Kazakh rail cargo transportation grew 13 percent in the first half of 2017 compared to the same period of 2016, reaching 128 million tonnes, announced the ...
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Kazakhstan fleet supplier gets loan for two new charters
    A Kazakhstan based offshore vessel supplier has been given a $14million loan to buy new ships for progressing oilfield operations.
    Circle Maritime Invest has been given the ...
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Soyuz rocket carrying 3 astronauts arrives at ISS
    A Russian Soyuz MS-05 carrying the three new crew members is to join the Expedition 52 docked to the International Space Station (ISS) after a six-hour ...
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Regional News

China's manufacturing activity continues to expand in July
    China's manufacturing sector expanded for the 12th straight month in July, the National Bureau of Statistics (NBS) said Monday.
    The country's manufacturing purchasing managers' index (PMI) came ...
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China QFII quota rises to 93.27 bln USD
    China's dollar-denominated Qualified Foreign Institutional Investors (QFII) program rose to 93.27 billion U.S. dollars at the end of July, the country's forex regulator said Monday.
    A total ...
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China's service trade deficit widens in June
    China's service trade deficit expanded in June after a contraction in May, the State Administration of Foreign Exchange (SAFE) said Monday.
    The deficit stood at 200.8 billion ...
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Russian economy bounces back, yet domestic labour market faces deficit
    The scarcity of labour resources troubling Russia could hinder the nation’s economic recovery and growth, the Central Bank and the Ministry of Economic Development both said ...
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Russia to begin widely accepting Alipay system
    Chinese payment services are on the move expanding their presence in Russia. Alipay (part of the Alibaba Group) has agreed on a partnership with VTB as ...
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159 Azeri state objects to be put up for auction in late August
    The State Committee on Property Issues of Azerbaijan plans to hold an auction on privatisation of state property on August 29.
    In total, 159 state properties are ...
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Kyrgyzstan's economic week, July 24-29, 2017
    Czech convincing. Michal Smelik, the head of Liglass Trading, who won a tender for the construction of the Upper Naryn cascade of hydro power plants, in ...
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Uzbekistan to sell agriculture and food products under UzAgro brand
    Uzbekistan will sell fresh and processed agricultural products, as well as food industry under the brand UzAgro.
    UzAgro will become a guarantor of high quality of ...
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Uzbekistan scraps mandatory currency sales by exporters from 1 August
    The government of Uzbekistan scraped requirement for mandatory sale of the part of hard currency by the exporters from 1 August 2017.
    President of Uzbekistan Shavkat ...
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EBRD launches women in business programme in Tajikistan
    The EBRD is expanding its award-winning Women in Business programme to Tajikistan, which will become the 17th country to benefit from improved financing and business advice ...
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Car bomb targets Iraqi embassy in Afghanistan's capital
    A car bombing targeted the Iraqi Embassy in central Kabul on Monday, followed by gunfire, Afghan police officials said. There were no immediate reports of casualties.
    The ...
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Prices and Statistics

Commodities
    

Date: August 1, 2017; Source: Bloomberg.com

Energy

 
Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/bbl. 50.27 +0.10 +0.20% Sep 2017 1:10 AM
USD/bbl. 52.80 +0.08 +0.15% Oct 2017 1:10 AM
USd/gal. 168.15 +0.49 +0.29% Sep 2017 1:10 AM
USD/MMBtu 2.82 +0.03 +1.04% Sep 2017 1:05 AM
USd/gal. 167.39 +0.65 +0.39% Sep 2017 1:09 AM
 
Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/t oz. 1,276.30 +2.90 +0.23% Dec 2017 1:10 AM
USD/t oz. 1,270.29 +0.85 +0.07% N/A 1:20 AM
USD/t oz. 16.84 +0.05 +0.29% Sep 2017 1:09 AM
USd/lb. 289.55 +0.40 +0.14% Sep 2017 1:10 AM
USD/t oz. 942.40 +1.80 +0.19% N/A 1:20 AM
Index Units Price Change %Change Contract Time (EDT) 2 Day
USd/bu. 384.75 0.00 0.00% Dec 2017 1:10 AM
USd/bu. 477.50 +3.00 +0.63% Sep 2017 1:10 AM
USD/MT 2,060.00 0.00 0.00% Sep 2017 7/31/2017
USd/lb. 69.12 +0.26 +0.38% Dec 2017 1:04 AM
USd/lb. 111.95 -0.47 -0.42% Oct 2017 7/31/2017
 

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Exchange Rates
    

Date: August 1, 2017; Source: the National Bank of Kazakhstan

1 AUSTRALIAN DOLLAR AUD / KZT 261.57  
1 AZERBAIJAN MANAT AZN / KZT 192.88  
10 ARMENIAN DRAM AMD / KZT 6.87  
1 BELARUS ROUBLE BYN / KZT 168.93  
1 BRAZILIAN REAL BRL / KZT 104.73  
10 HUNGARIAN FORINTS HUF / KZT 12.63  
1 HONG KONG DOLLAR HKD / KZT 42.01  
1 GEORGIAN LARI GEL / KZT 137.47  
1 DANISH KRONA DKK / KZT 51.75  
1 UAE DIRHAM AED / KZT 89.32  
1 US DOLLAR USD / KZT 328.07  
1 EURO EUR / KZT 384.83  
1 INDIAN RUPEE INR / KZT 5.11  
1000 IRANIAN RIAL IRR / KZT 10.02  
1 CANADIAN DOLLAR CAD / KZT 263.09  
1 CHINESE YUAN CNY / KZT 48.77  
1 KUWAIT DINAR KWD / KZT 1089.57  
1 KYRGYZIAN SOM KGS / KZT 4.75  
1 MALAYSIAN RINGGIT MYR / KZT 76.65  
1 MEXICAN PESO MXN / KZT 18.45  
1 MOLDAVIAN LEY MDL / KZT 18.18  
1 NORWEGIAN KRONA NOK / KZT 41.31  
1 POLISH ZLOTY PLN / KZT 90.45  
1 SAUDI RIYAL SAR / KZT 87.49  
1 RUSSIAN ROUBLE RUB / KZT 5.47  
1 SDR XDR / KZT 461.1  
1 SINGAPORE DOLLAR SGD / KZT 241.87  
1 TAJIKISTAN SOMONI TJS / KZT 37.24  
1 THAI BAHT THB / KZT 9.86  
1 TURKISH LIRA TRY / KZT 93.16  
100 UZBEKISTAN SUM UZS / KZT 8.07  
1 UKRAINIAN GRIVNA UAH / KZT 12.7  
1 GREAT BRITAIN POUND GBP / KZT 430.1  
1 CRECH KORUNA CZK / KZT 14.77  
1 SWEDISH KRONA SEK / KZT 40.34  
1 SWISS FRANC CHF / KZT 337.94  
1 SOUTH AFRICAN RAND ZAR / KZT 25.05    
100 SOUTH KOREAN WON KRW / KZT 29.3  
1 JAPANESE YEN JPY / KZT 2.97  

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