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News: Thursday, August 10, 2017 -- Issue 2798 http://www.newsline.kz/rss/

Article of the Day

US hits imports from Kazakhstan with punitive duties
    US Department of Commerce issued preliminary countervailing duty determinations yesterday on products from China, Australia, Brazil, and Kazakhstan.
    Secretary of Commerce Wilbur Ross announced an affirmative preliminary determination in the countervailing duty (CVD) investigation of aluminum foil from China, finding that Chinese exporters of aluminum foil received subsidies of 16.56 to 80.97 percent.
    Ross also announced the preliminary findings determinations of investigations of silicon metal from Australia, Brazil, and Kazakhstan. Those investigations found that silicon metal exporters from those markets received subsidies of 16.23 percent, 3.69 to 52.07 percent, and 120 percent, respectively.
    The Commerce Department will instruct US Customs and Border Protection to collect cash deposits from importers of all of the products involved based on these preliminary rates. Ross added that the department will continue to validate the information provided to us that brought us to this decision.
    US countervailing duty law allows the US government to impose duties on imports where it is found the products are subsidized by the governments of the exporter.
    With respect to the Chinese aluminum foil matter, Commerce calculated preliminary subsidy rates of 28.33 percent for Dingsheng Aluminum Industries (Hong Kong) Trading Co., Ltd., and 16.56 percent for Jiangsu Zhongji Lamination Materials Co., Ltd., the two companies that ultimately participated in the proceeding.
    Loften Aluminum (Hong Kong) Limited refused to participate. Manakin Industries LLC claimed to only be an importer, although the Commerce analysis revealed that Manakin Industries LLC and Suzhou Manakin Aluminum Processing Technology Co., Ltd. worked jointly to export Chinese aluminum foil to the United States. The department requested information from Suzhou Manakin regarding its Chinese suppliers, but this information was not provided. The preliminary subsidy rates for these three companies were determined on the basis of adverse facts available due to their failure to provide information.
    In 2016, imports of aluminum foil from China were valued at $389 million.
    The countervailing duty case against aluminum foil from China is independent of the Section 232 aluminum investigation, launched on April 27, to consider whether aluminum overcapacity, dumping, illegal subsidies, and other factors, threaten US economic security and military preparedness.
    Commerce is currently scheduled to announce its final CVD determination on the Chinese aluminum foil investigation on October 24.
    The petitioner in the silicon metal case was Globe Specialty Metals, Inc. The company has production facilities in Alabama, New York, Ohio, and West Virginia. In 2016, imports of silicon metal from Australia, Brazil, and Kazakhstan were valued at $33.9 million, $60.0 million, and $17.5 million, respectively.
    Commerce is scheduled to announce its final CVD determinations for the silicon metal investigations on December 19.
    With respect to both matters, the US International Trade Commission must still determine whether US industry was injured by the foreign subsidies. If Commerce makes negative final determinations of subsidization or the ITC makes negative final determinations of injury, the investigations will be terminated and no final orders will be issued.
    Written by Peter Buxbaum for Global Trade.

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Kazakhstan General

Astanas multi-vector policy goes against Moscows interests
    The annual international peacekeeping tactical exercise Steppe Eagle-2016 with the participation of NATO and CIS countries has concluded in Kazakhstan. The exercises distinguishing feature is the ...
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Astana to a get new monument
    A new monument under the name "Qazaq eline myn algys!" ("Thousand thanks to Kazakh land!") will soon be erected in the Kazakh capital, according to Deputy ...
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Hundreds of Kazakhstani inmates reject radicalisation
    Authorities in Kazakhstan are reporting success in reversing radicalisation among inmates and ex-cons, as well as among radicalised citizens who have not yet committed any offences. ...
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Kazakhstan in for unstable weather as Met Office extends warning of thunderstorms, hail
    Weather remains changeable as the atmospheric fronts will bring occasional rains with thunderstorms, wind strengthening, and hail to most regions, except for the west and southeast ...
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Six ways green technology will be a game changer for Belt and Road countries
    The Belt and Road initiative promises massively increased interconnectivity across Eurasia and most people think of improved trains, rail and roads, but there is another overlooked ...
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Oil and Gas Sector

Opec says Iraq, UAE, Kazakhstan affirm commitment to cuts
    Opec said Iraq, the United Arab Emirates and Kazakhstan - who have lagged in their implementation of a deal to cut production - affirmed their commitment ...
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Kazakhstan reassures US oil producers over new sanctions
    US oil producers have been given assurances that their projects in Kazakhstan will not be affected by the new round of sanctions against Moscow, easing fears ...
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KMGI to expand petrol station network in Romania, Bulgaria once legal issues resolved
    Oil refiner KMG International(KMGI) wants to open more petrol stations in Romania and Bulgaria and is on the lookout for acquisitions in central Europe once its ...
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Med Crude-Urals at 48-month high in NWE, but traders eye softer levels for Sept
    Urals crude differentials to dated Brent in northwest Europe rose to their highest in 48 months on Wednesday, while traders expect the grade to soften when ...
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Oil prices edge lower as market settles into range
    Oil prices were about 1 percent higher on Wednesday after a report showed U.S. refineries processed record amounts of crude in the latest week, eating into ...
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Natural gas prices poised to rise as exports boom
    New data from the Energy Information Administration (EIA) has brought some good news for advocates of US natural gas production. In three of the first five ...
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Energy Industry

Uranium prices stutter after prior weeks steep ascent
    Spot uranium prices were unable to follow up the prior weeks steep ascent, with TradeTechs weekly spot indicator shedding 20 cents to $20.40 per lb with ...
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Zhambyl region promotes renewable energy projects, expands production at 50MW solar park
    Burnoye Solar 2, the first large-scale solar plant in the country with a capacity of 50 megawatts, will be constructed in the Zhualynsky district of ...
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Finance and Investment

South Kazakhstan attracts $543 million in investments in first half of 2017
    Over first six months of 2017, the volume of attracted investments in the South Kazakhstan region reached 180.6 billion tenge (US$543.78 million), having increased 33 percent ...
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Kazakh economy grows 4.2 percent, other indicators positive, according to 7 months economic report
    The Kazakh economy grew 4.2 percent, the unemployment rate was 4.9 percent and investment in fixed assets increased 3.7 percent over the first seven months of ...
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Consolidated reserves fell due to an increased use of transfers
    In view of the increased use of funds from NF, the country's consolidated reserves fell by $1.4 billion at the end of July to $90.8 billion. ...
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The State budget in 1H2017
    The recovery of economic activity, supported by rising prices for oil and metals at 30% yoy in the first half of 2017, has had a positive ...
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Kazakhstan-based ATF Bank B and kzBB ratings placed on CreditWatch Negative on asset quality concerns- S&P
    S&P Global Ratings has placed its B long-term counterparty credit rating and kzBB Kazakhstan national scale rating on ATFBank JSC on CreditWatch with negative implications. At ...
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KASE day session: USDKZT_TOD = 332.51
    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

Kazakhstan Potash Corp seeing increased action in session
    Shares of Kazakhstan Potash Corp Ltd (KPC.AX) have seen the needle move 4.55% or 0.001 in the most recent session. The ASX listed company saw a ...
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Kaz Minerals raised to Buy at Zacks Investment Research
    Kaz Minerals Plc (NASDAQ:KZMYY) was upgraded by Zacks Investment Research from a sell rating to a buy rating in a research report issued on Wednesday. The ...
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Aluminium and copper extend rally on capacity cuts
    LME copper and aluminium rose to 2-1/2 year highs on Wednesday on expectations of output cuts in across many commodities in top producer China during the ...
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Gold hovers near two-month highs on N.Korea tensions
    Gold hit a near two-month peak on Wednesday, after North Korea said it is considering an attack on the U.S. Pacific territory of Guam and U.S. ...
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China steel spreads with iron ore, hard coking coal brace for new multi-year high
    China steel mill margins are reaching new highs as HRC prices in China Wednesday added upward pressure on spreads with coking coal and iron ore, analysis ...
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Trade and Consumer Goods

Grain harvest gaining pace in South Kazakhstan
    The grain harvest has started in four regions of the Republic of Kazakhstan, including South Kazakhstan, Zhambyl, Almaty and Kyzylorda regions, reports UkrAgroConsult.
    According to Kazakhstans Ag ...
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Kazakhstan: in January-July, JSC Ak Biday Terminal transshipped nearly 180 thsd tonnes of grains
    During seven months of 2017, the grain terminal JSC Ak Biday Terminal, the subsidiary company of National Company Food Contract Corporation JSC, shipped 178 thsd tonnes ...
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Brokers upbeat on corn, cotton, sugar price outlook - but not wheat
    Brokers still see prospects for gains in corn, cotton and sugar futures, but are downbeat on the outlooks for wheat, seeing values next year well below ...
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What will the Wasde bring? Grains make small gains, for now
    The, modestly, positive tone around in early deals was there at the close too, as traders proved reluctant to take values too far in any direction ...
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Communications and Transportation

Comlux KZ gains access to Europe
    Comlux KZ, a Kazakhstans subsidiary of the Swiss business aviation operator Comlux cleared by the European Aviation Safety Agency (EASA) to fly to the EU countries ...
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Samsung runs smartphone trade-in scheme in Kazakhstan until end-August
    Samsung has launched a smartphone trade-in scheme in Kazakhstan, reports Profit.kz. Customers are able to return their used smartphones in part-exchange for new Galaxy S8 and ...
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Culture and Society

Dimash wins Golden melody awards in Hong Kong
    Dimash Kudaibergenov has received a prize at Golden Melody Awards in Hong Kong, the Kazakh singer broke the news on his Instagram account.
    "Suyinshi [meaning good news ...
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Pharmaceutical and Healthcare News

Turkish AIGP invests $30 million in pharmaceutical plant in Kazakhstan
    This year marks the fifth anniversary of the presence of Turkish pharmaceutical industry leader Abdi İbrahim on the Kazakh pharmaceutical market. Over these years, the company ...
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Sports

Atyrau Sport Fest 2017 to gather martial arts practitioners from 16 countries
    The Atyrau Sport Fest 2017 martial arts festival dated to the Day of Sport will be held on August 19, Kazinform has learnt from the regional ...
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Regional News

China makes all-out rescue effort after 7.0-magnitude quake
    China has begun all-out efforts in relief and rescue work after a 7.0-magnitude earthquake struck a remote area in southwest China's Sichuan Province Tuesday night, killing ...
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China's foreign trade outlook positive, uncertainties remain
    Despite slower-than-expected monthly expansion, China's foreign trade growth is expected to remain on a positive track amid uncertainties for the year.
    The country's exports in yuan-denominated terms ...
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Russia-China trade grows 25%, $100 bln still out of reach
    The trade turnover between Russia and China is growing - in January-July 2017 the figure increased by 25.5% and reached $46.82 bln. At this rate, by ...
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Rosneft interested in cooperation with China on Eastern Petrochemical Complex
    Rosneft received proposals on the Eastern Petrochemical Complex from the US partners but the company is more interested in cooperation with China, Chief Executive Officer of ...
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Russian imports from countries outside CIS up 27% this year
    Russia has drastically increased imports from non-CIS (Commonwealth of Independent States) countries through July this year, according to the data from Russias Federal Customs Service.
    CIS members ...
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Russian import substitution can rake in $8 bln by 2020
    The revenue from selling 678 import substitution projects by 2020 will reach 500 bln rubles ($8.35 bln), Russian Minister of Industry and Trade Denis Manturov said ...
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Kyrgyzstan starts issuing electronic visas
    The Ministry of Foreign Affairs of Kyrgyzstan demonstrated the procedure for obtaining electronic visas and described in which cases it is issued.
    Business or tourist electronic visa ...
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FRDU to open credit lines for US$100m to finance projects, implemented in FEZ
    The Fund for Reconstruction and Development of Uzbekistan (FRDU) will open credit lines for total amount of US$100 million to the commercial bank to finance investment ...
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Taliban releases hundreds of prisoners after seizing Afghanistan village when army 'ran out of bullets'
    Hundreds of prisoners have been released by Taliban fighters who seized a village as soldiers claimed they have almost run out of bullets.
    Insurgents have freed 235 ...
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Prices and Statistics

Commodities
    

Date: August 10, 2017; Source: Bloomberg.com

Energy

Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/bbl. 49.56 0.00 0.00% Sep 2017 11:43 PM
USD/bbl. 52.74 +0.04 +0.08% Oct 2017 11:43 PM
USd/gal. 162.62 +0.62 +0.38% Sep 2017 11:43 PM
USD/MMBtu 2.88 -0.01 -0.24% Sep 2017 11:42 PM
USd/gal. 165.46 +0.13 +0.08% Sep 2017 11:43 PM
 
Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/t oz. 1,281.80 +2.50 +0.20% Dec 2017 11:43 PM
USD/t oz. 1,276.58 -0.72 -0.06% N/A 11:54 PM
USD/t oz. 16.88 +0.02 +0.10% Sep 2017 11:43 PM
USd/lb. 292.60 -0.10 -0.03% Sep 2017 11:43 PM
USD/t oz. 972.27 -3.18 -0.33% N/A 11:53 PM
Index Units Price Change %Change Contract Time (EDT) 2 Day
USd/bu. 385.25 -1.00 -0.26% Dec 2017 11:42 PM
USd/bu. 485.75 -1.00 -0.21% Dec 2017 11:37 PM
USD/MT 2,005.00 -23.00 -1.13% Dec 2017 1:29 PM
USd/lb. 71.04 -0.07 -0.10% Dec 2017 11:42 PM
USd/lb. 108.05 -2.55 -2.31% Oct 2017 2:04 PM
 

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Exchange Rates
    

Date: August 10, 2017; Source: the National Bank of Kazakhstan

1 AUSTRALIAN DOLLAR AUD / KZT 262.39  
1 AZERBAIJAN MANAT AZN / KZT 199.04  
10 ARMENIAN DRAM AMD / KZT 6.97  
1 BELARUS ROUBLE BYN / KZT 170.46  
1 BRAZILIAN REAL BRL / KZT 106.28    
10 HUNGARIAN FORINTS HUF / KZT 12.83  
1 HONG KONG DOLLAR HKD / KZT 42.52  
1 GEORGIAN LARI GEL / KZT 139.43  
1 DANISH KRONA DKK / KZT 52.51  
1 UAE DIRHAM AED / KZT 90.5  
1 US DOLLAR USD / KZT 332.39  
1 EURO EUR / KZT 390.53  
1 INDIAN RUPEE INR / KZT 5.21    
1000 IRANIAN RIAL IRR / KZT 10.13  
1 CANADIAN DOLLAR CAD / KZT 262.32  
1 CHINESE YUAN CNY / KZT 49.78  
1 KUWAIT DINAR KWD / KZT 1101.72  
1 KYRGYZIAN SOM KGS / KZT 4.82    
1 MALAYSIAN RINGGIT MYR / KZT 77.53  
1 MEXICAN PESO MXN / KZT 18.5  
1 MOLDAVIAN LEY MDL / KZT 18.67  
1 NORWEGIAN KRONA NOK / KZT 41.79  
1 POLISH ZLOTY PLN / KZT 91.6  
1 SAUDI RIYAL SAR / KZT 88.63  
1 RUSSIAN ROUBLE RUB / KZT 5.54    
1 SDR XDR / KZT 468.97  
1 SINGAPORE DOLLAR SGD / KZT 243.96  
1 TAJIKISTAN SOMONI TJS / KZT 37.73  
1 THAI BAHT THB / KZT 10    
1 TURKISH LIRA TRY / KZT 93.86  
100 UZBEKISTAN SUM UZS / KZT 8.06  
1 UKRAINIAN GRIVNA UAH / KZT 12.93    
1 GREAT BRITAIN POUND GBP / KZT 432.31  
1 CRECH KORUNA CZK / KZT 14.96  
1 SWEDISH KRONA SEK / KZT 40.6  
1 SWISS FRANC CHF / KZT 345.09  
1 SOUTH AFRICAN RAND ZAR / KZT 24.69  
100 SOUTH KOREAN WON KRW / KZT 29.23  
1 JAPANESE YEN JPY / KZT 3.03  

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