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News: Monday, August 07, 2017 -- Issue 2795 http://www.newsline.kz/rss/

Article of the Day

India agrees to enhance military capability of Kazakhstan
    India aspires to create a market for its defense equipment in Central Asian countries including Kazakhstan after the Chabahar port becomes operational within a year or two.
    India has assured Kazakhstan of all possible support in strengthening its counter-insurgency operations. Indian Army Chief Bipin Rawat, who is currently on an official visit to the Central Asian country, gave the assurance during a meeting with his Kazakh counterpart on Thursday.
    "Kazakhstan has sought assistance for capacity enhancement in the areas of counter insurgency operations, military education and training of cadets in India. Chief of the Army Staff assured them of whole hearted support," Indian Army said in a statement.
    The two army chiefs also discussed various aspects of defense cooperation including the upcoming joint exercise to be held at Bakloh in the Himalayan state of Himachal Pradesh this year in Nov. Gen Rawat also conveyed India's support for the deployment of Kazakh armed forces in UN peacekeeping operations.
    The Chief of Indian Army is currently on a six-day official visit to Kazakhstan and Turkmenistan. The visit is part of India's outreach initiative to engage with its extended neighborhood as it aspires to create a market for its defense equipment in Central Asia. Kazakhstan has already exhibited deep keenness in forging joint ventures with India in "upgrading" the erstwhile ‘Soviet' defense equipment they have been using since long.
    Moreover, Kazakhstan will become a center point for India to enter resources rich Central Asia through the International North-South Transport Corridor- a multi-mode network of the sea, rail, and road route especially as India expects Chabahar port will start functioning in next 12-18 months.
    "Chabahar Port will start functioning within 12-18 months. This opens doors for business with Afghanistan & Iran," Nitin Gadkari, India's Minister for Port & Shipping said in Parliament on Friday.
    The port of Chabahar is located on the Makran coast of Sistan and Baluchistan Province, next to the Gulf of Oman and at the mouth of Strait of Hormuz. It is the only Iranian port with direct access to the Indian Ocean. The port will make way for India to bypass Pakistan in transporting goods to Afghanistan and other countries of Central Asia using a sea-land route. At present, Pakistan does not allow India to transport merchandise through its territory.
    Reported by Sputnkinews.

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Kazakhstan General

Third of state court bailiffs subject to optimisation in Kazakhstan
    Vice Justice Minister Zhanat Yeshmagambetov told a briefing in the Government that in the current year, one third of state court bailiffs are to be laid ...
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CSTO is a tool to ensure regional security
    Kazakhstan’s foreign policy is based on several strategic principles. One of them has to do with ensuring national security, defence and the sovereignty of the country, ...
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Kazakhstan, China cooperation named exemplary at China-Central Asia Forum
    The 5th China-Central Asia Cooperation Forum was held in Lianyungang, Kazinform reports from China.
    The event was attended by the Deputy Chairman of the Chinese People's Political ...
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East Kazakhstan, France extend cooperation
    At a meeting in Ust-Kamenogorsk akim of East Kazakhstan region, Danial Akhmetov and the Ambassador of France to Kazakhstan Francis Etienne discussed further deepening of cooperation ...
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Expo-2017

Two-millionth visitor enters Astana EXPO 2017
    The Expo 2017 international exhibition in Astana has been visited by its 2,000,000th visitor today, Kazinform reports.
    The visitor, Gaisa Zhumaliev from Uralsk town, is one of ...
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France’s EXPO pavilion sets event records, displays energy saving technologies
    France is using EXPO 2017 to showcase innovative approaches to meeting future energy demand. The country is the owner of one of the largest pavilions at ...
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Astana prepares rich cultural programme as EXPO 2017 passes halfway point
    EXPO 2017 may have passed its halfway point, but there are still numerous opportunities to enjoy the exhibition. A rich cultural programme of concerts and theatre ...
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Iran's National Day held at EXPO-2017
    At the EXPO in Astana, celebration of the National Day of Iran began, Kazpravda.kz reports.
    The event will be attended by Vice-Minister for Investments and Development of ...
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Ghana Fusion Band makes nation proud at Astana Expo
    The Ghana Fusion Band made the nation proud with a captivating musical drama on the country’s National Day at the ongoing 2017 Astana Expo in Astana, ...
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What to see in Kazakh National Museum during EXPO 2017
    The National Museum of Kazakhstan is hosting several exhibitions within the EXPO 2017 cultural programme. Most will last until Sept. 10 – so don’t miss the ...
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Oil and Gas Sector

Torn between the EU and Russia: Kazakhstan’s oil dilemma
    Kazakhstan, who has joined OPEC and non-OPEC countries to curb oil output with the aim to prop up oil prices, has recently resented the remarks of ...
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Oil shipments from Georgia’s Batumi port fall 33 pct in Jan-July
    Oil and related shipments from Georgia’s Black Sea port of Batumi fell 32.8 percent in January-July of 2017 from a year earlier, a senior official at ...
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Russian antitrust watchdog allows Austrian firm to buy 24.99% in Gazprom JV
    Russia’s Federal Antimonopoly Service (FAS) gave its consent on Friday to an acquisition by Austria’s OMV energy company of a 24.99-percent stake in a Gazprom joint ...
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Oil prices rise on strong U.S. jobs data
    Oil prices rose on Friday after a strong U.S. jobs report bolstered hopes for growing energy demand, but crude prices declined for the week, pressured by ...
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Rising U.S. shale prompts banks to cut oil price forecasts, again
    Some investment banks doubt that the recent stockpile drops will continue after the summer season ends, as growing U.S. output could reverse the inventory trend later ...
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Finance and Investment

Over a billion tenge paid by alimony dodgers in 2017
    Deputy Justice Minister Zhanat Yeshmagambetov told a briefing in the Government that over a billion tenge of alimony had been paid by debtors in 2017 H1, ...
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Tenge exchange rate fluctuates, draws increased attention
    Fluctuations of the tenge’s exchange rate in the currency market are based on a number of factors, including concerns about the future of rouble after the ...
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Kazakh Delta Bank will not accept deposits or open accounts until November
    Delta Bank has been withdrawn of the license for acceptance of deposits and opening of accounts until November 1, said the National Bank of Kazakhstan.
    “By the ...
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Kazakh National Bank says US sanctions on Russia affecting nation’s currency
    The new set of sanctions against Russia passed by the United States Congress and signed into law this week by President Donald Trump have adversely affected ...
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Halyk Bank’s services to be available in Kazpost offices
    Kazakhstan Halyk Bank JSC and Kazpost JSC agreed to develop mutually beneficial cooperation in rendering services, Kazpravda.kz reports.
    In particular, Kazpost starts selling banking products to individuals ...
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Multilateral development banks increase financing for CIS projects
    Multilateral development banks (MDBs) increased financing for Commonwealth of Independent States (CIS) projects, including in Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, in Q2 2017 compared to ...
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KASE day session: USDKZT_TOD = 332.62
    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

Update on investigations into Eurasian Natural Resources Corporation
    On May 8 2017 Justice Andrews handed down judgment in respect of the Serious Fraud Office’s claim for a declaration that documents generated by forensic accountants ...
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ENRC: let’s not repeat the City’s embarrassing mistakes over sovereign-controlled firms
    It’s only four years since the Eurasian Natural Resources Corporation (ENRC) unceremoniously delisted from the London Stock Exchange after a series of very public corporate governance ...
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Zinc climbs as Chinese steel prices surge to new peaks
    Zinc prices clawed higher on Friday, getting a boost from another surge in Chinese steel prices and from investors who are still bullish about shortages of ...
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Gold slips after strong U.S. jobs data boosts dollar
    Gold fell 1 percent on Friday after better-than-expected U.S. jobs data boosted the
    beleaguered dollar and potentially cleared the way for the U.S. Federal Reserve to raise ...
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Uranium prices will ascend regardless of the fate of US nuclear power
    The positive sentiment over future uranium prices stems from the dozens of nuclear power plants under construction around the world. While we don’t go more than ...
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Trade and Consumer Goods

Kazakhstan harvested over 1 mln tonnes of grains as forecasts lowered
    As of August 3, Kazakhstan harvested 1.186 mln tonnes of grains throughout the areas of 584.4 thsd ha (31% of the plan). The average yield reached ...
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Kazakhstan: in the first half of 2017, Food Contract Corporation exported over 60 thsd tonnes of grains and oilseeds
    In the first half year of 2017, NC Food Contract Corporation JSC supplied over 60 thsd tonnes of grains and oilseeds on foreign markets, declared the ...
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Strong Black Sea wheat exports seen as weather boosts crop
    Black Sea wheat producers anticipate strong exports in the current marketing year as recent good weather has buoyed their expectations for bumper crops in Russia and ...
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Weekly grain and oilseeds market view from Europe
    US demand rationing needed poor quality wheat in Germany, Poland and the Baltic countries but rains a help for French corn. In the latest in a ...
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Fitch affirms CAEPCo at ‘B+’; outlook stable
    Fitch Ratings has affirmed Kazakhstan-based Joint Stock Company Central-Asian Electric-Power Corporation’s (CAEPCo) Long-Term Issuer Default Rating at ‘B+’. The Outlook is Stable, said the rating agency.
    “The ...
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Communications and Transportation

Travel company’s weird ad with naked flight attendants doesn’t fly with viewers
    A travel company in Kazakhstan is defending a bizarre ad campaign that’s been widely panned across social media for featuring models posing naked as flight attendants ...
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Kazakhstan gets sea access using Chinese logistics centres
    Chinese logistics centres become more accessible to Kazakhstan within the One Belt, One Road project.
    An initiative announced by Chinese President Xi Jinping in 2013, One Belt, ...
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Air Astana’s international traffic increases 22 percent
    Thanks to steady economic growth, Air Astana’s international passenger traffic posted significant improvement in the first half of the year.
    “The economy of Kazakhstan is showing a ...
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Digitalisation, single window system to ease export-import documentation
    The digitalisation of customs declarations and a single window principle for export-import transactions will be introduced in the country, said Vice Minister of Finance Ruslan Beketayev ...
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Sports

FC Kairat on sale
    The news has broken that the Almaty City Administration is selling its 30% equity stake in FC Kairat, Kazinform reports.
    According to the information published on the ...
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Regional News

China's banking sector to see stable growth: report
    China's banking sector is expected to grow steadily during the 2017-2018 period with a lower non-performing asset ratio.
    The commercial banks' assets are likely to grow by ...
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Economic restructuring leading to quality growth in China
    Economic data published by Chinese provincial-level regions for the first half year show that economic restructuring is bearing fruit and leading to stable and quality growth.
    China's ...
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China Telecom ready to support Kyrgyzstan's digital transformation plans
    China Telecom expressed interest and readiness to cooperate with Kyrgyzstan in digitalizing its telecommunications, the Kyrgyz leader's press service reported Friday.
    The two sides discussed future cooperation ...
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In July 2017, Russia exported 2.46 mln tonnes of grains as harvests progress
    In July 2017, Russia exported nearly 2.46 mln tonnes of grains, against 2.55 mln tonnes in the same month last year, reported the Federal Customs Service ...
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Sanctions against Russia affect European investments
    The German Association of Chambers of Commerce and Industry (DIHK) warned today that the new sanctions imposed by the United States on Russia affect the start-up ...
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Azeri SOFAZ’s financial stock transparency greater than in most funds, GDP poised to rise – Fitch
    The transparency of Azerbaijani State Oil Fund’s (SOFAZ) financial stocks and flows is greater than the sovereign wealth funds of most higher-rated oil producers, according to ...
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Taliban seize control of strategic hub in northern Afghanistan
    Taliban militants have taken control of a key area in the north of Afghanistan, a local official has said, blaming the latest defeat on the central ...
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Prices and Statistics

Commodities
    

Date: August 7, 2017; Source: Bloomberg.com

Energy

Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/bbl. 49.51 -0.07 -0.14% Sep 2017 11:03 PM
USD/bbl. 52.36 -0.06 -0.11% Oct 2017 11:03 PM
USd/gal. 164.39 -0.24 -0.15% Sep 2017 10:47 PM
USD/MMBtu 2.79 +0.02 +0.58% Sep 2017 11:02 PM
USd/gal. 164.67 -0.19 -0.12% Sep 2017 11:03 PM
 
Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/t oz. 1,263.60 -1.00 -0.08% Dec 2017 11:03 PM
USD/t oz. 1,258.06 -0.82 -0.07% N/A 11:13 PM
USD/t oz. 16.22 -0.03 -0.20% Sep 2017 11:03 PM
USd/lb. 287.95 -0.55 -0.19% Sep 2017 11:03 PM
USD/t oz. 960.75 -3.48 -0.36% N/A 11:10 PM
Index Units Price Change %Change Contract Time (EDT) 2 Day
USd/bu. 384.00 +3.00 +0.79% Dec 2017 11:01 PM
USd/bu. 458.25 +3.50 +0.77% Sep 2017 11:02 PM
USD/MT 2,021.00 -65.00 -3.12% Dec 2017 8/4/2017
USd/lb. 70.80 +0.18 +0.25% Dec 2017 11:03 PM
USd/lb. 114.10 -0.72 -0.63% Oct 2017 8/4/2017
 

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Exchange Rates
    

Date: August 7, 2017; Source: the National Bank of Kazakhstan

1 AUSTRALIAN DOLLAR AUD / KZT 265.72    
1 AZERBAIJAN MANAT AZN / KZT 199.62    
10 ARMENIAN DRAM AMD / KZT 6.97    
1 BELARUS ROUBLE BYN / KZT 170.87    
1 BRAZILIAN REAL BRL / KZT 107.09    
10 HUNGARIAN FORINTS HUF / KZT 13.03    
1 HONG KONG DOLLAR HKD / KZT 42.64    
1 GEORGIAN LARI GEL / KZT 139.95    
1 DANISH KRONA DKK / KZT 53.24    
1 UAE DIRHAM AED / KZT 90.77    
1 US DOLLAR USD / KZT 333.36    
1 EURO EUR / KZT 396    
1 INDIAN RUPEE INR / KZT 5.24    
1000 IRANIAN RIAL IRR / KZT 10.17    
1 CANADIAN DOLLAR CAD / KZT 265.31    
1 CHINESE YUAN CNY / KZT 49.62    
1 KUWAIT DINAR KWD / KZT 1108.61    
1 KYRGYZIAN SOM KGS / KZT 4.83    
1 MALAYSIAN RINGGIT MYR / KZT 77.94    
1 MEXICAN PESO MXN / KZT 18.66    
1 MOLDAVIAN LEY MDL / KZT 18.68    
1 NORWEGIAN KRONA NOK / KZT 42.24    
1 POLISH ZLOTY PLN / KZT 93.31    
1 SAUDI RIYAL SAR / KZT 88.89    
1 RUSSIAN ROUBLE RUB / KZT 5.52    
1 SDR XDR / KZT 470.84    
1 SINGAPORE DOLLAR SGD / KZT 245.8    
1 TAJIKISTAN SOMONI TJS / KZT 38.17    
1 THAI BAHT THB / KZT 10.03    
1 TURKISH LIRA TRY / KZT 94.4    
100 UZBEKISTAN SUM UZS / KZT 8.14    
1 UKRAINIAN GRIVNA UAH / KZT 12.91    
1 GREAT BRITAIN POUND GBP / KZT 438.5    
1 CRECH KORUNA CZK / KZT 15.2    
1 SWEDISH KRONA SEK / KZT 41.25    
1 SWISS FRANC CHF / KZT 344.56    
1 SOUTH AFRICAN RAND ZAR / KZT 24.95    
100 SOUTH KOREAN WON KRW / KZT 29.64    
1 JAPANESE YEN JPY / KZT 3.03    

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