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News: Friday, August 11, 2017 -- Issue 2799 http://www.newsline.kz/rss/

Article of the Day

Kazakh diplomatic missions to search for potential investors abroad
    The Ministry of Foreign Affairs of Kazakhstan and national company KAZAKH INVEST have inked a memorandum of cooperation and mutual understanding today, Kazinform reports. As per the memorandum, Kazakhstani diplomats will help the national company attract investments in the country.
    "Presently, the ministry together with the economic bloc of our Government and KAZAKH INVEST are busy working on new measures to attract foreign direct investments and promote Kazakh export products abroad. The ministry will also assist KAZAKH INVEST in raising awareness about the opportunities for foreign investors in Kazakhstan in line with the plan that was approved earlier," Minister of Foreign Affairs Kairat Abdrakhmanov told the journalists on Thursday.
    Minister Abdrakhmanov assured that the ministry is committed to helping the company in its work with foreign business partners.
    Abdrakhmanov stressed that for this to happen the ministry will use the potential of the Kazakh diplomatic missions abroad to the maximum. He said: "We will step up joint work of the Kazakh embassies and offices of the company abroad. Kazakhstan is represented in over 90 countries worldwide."
    Maksat Kabashev, CEO of KAZAKH INVEST JSC, elaborated that utmost attention will be paid to attracting investments in non-oil and gas sector. He stressed that at this point it is the key goal for the company.
    "We've determined the sectors and countries we will focus our attention on. Those are agricultural processing, chemical and petrochemical industry, pharmaceuticals, and engineering industry. We will mainly work with the EU, Turkey, the Middle East, China, Russia and the U.S.," Kabashev said.
    In his words, reps of the company and the Kazakh diplomats posted abroad will invite international companies to Kazakhstan and urge them to open projects here.
    Reported by Kazinform.

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Kazakhstan General

Training plane crashed near Almaty
    Two people were killed as a result of the crash of the training aircraft near Almaty, Kazpravda.kz reports with reference to the Civil Aviation Committee of ...
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OIC to hold 1st summit on science, technology in Kazakhstan
    The Organization of Islamic Cooperation (OIC) will hold its first Summit on Science and Technology in Kazakhstan in September, local media reported Thursday.
    The summit will be ...
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Nurly Zhol: Kazakhstan’s own Belt & Road initiative takes hold
    Kazakhstan has paid lip service to becoming a clean energy, technology, and innovation hub in Central Asia for many years. Increasingly, the aim is taking hold. ...
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Belarus companies to hold exhibition in Kazakhstan
    Kazakhstan and Belarus, both being member states of the Eurasian Economic Union, need to explore joint innovative projects, Ambassador of Belarus to Kazakhstan Anatoly Nichkasov said ...
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Thousands of Kazakhstanis seek help on Hotline 114
    An Astana-based combination hotline and chat site (known as Hotline 114) is providing Kazakhstanis with answers to their questions about religion, as well as help if ...
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Weather in Kazakhstan on Friday
    The passage of atmospheric fronts will bring changeable weather to most parts of Kazakhstan occasional rains with thunderstorms, wind turning into squalls, and hails, while the ...
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Expo-2017

National Day of Switzerland held at EXPO-2017
    The international specialized exhibition EXPO-2017 started broadcasting the celebration of the National Day of the Swiss Confederation, Kazpravda.kz reports.
    The official part of the event will be ...
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South Korea’s, Germany’s representatives laud Kazakhstan’s “green” commitment
    EXPO 2017 is the indicator of growth and development of Kazakhstan, professor of Korea Research Institute for Human Settlements, Choi Jae Seong believes. He says the ...
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Oil and Gas Sector

Petrofac hires top lawyer as fraud probe continues
    Petrofac has hired a top litigator to oversee the Serious Fraud Office’s (SFO) investigation into the Unaoil corruption scandal.
    Edward Sparrow, a partner at law firm Ashurst ...
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Weekly broker update – Nostrum Oil & Gas
    Recently stock market analysts have updated their consensus ratings on shares of Nostrum Oil & Gas (LON:NOG). The latest broker reports which are currently outstanding on ...
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Kazakh oil production curve “stagnant” as FSU sales drop - OPEC
    In June, total crude oil exports from the former Soviet Union dropped by 408 tb/d, or 6%, to average 6.8 mb/d. Crude exports through Russian pipelines ...
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Med crude-Urals stable, attention turns to September volumes
    Kazakhstan’s benchmark Urals’ differentials remained unchanged on Thursday in low trading activity as the market turned its attention to September volumes.
    In the window bid for 100,000 ...
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Oil slides on worries about global crude glut, Wall Street slump
    Oil prices fell more than 1.5 percent on Thursday, as a bruising day on Wall Street bolstered fears of slowing demand amid lingering concerns over a ...
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Finance and Investment

Kazakh National.Bank plans $3 bln bond-buying scheme to ease debt crisis
    Kazakhstan's central bank plans to inject 0.6-1.0 trillion tenge ($1.8-3.0 billion) into local banks through a bond-purchasing programme to help them write off bad loans, provided ...
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Kazakhstan leads the five Central Asian nations with FDI topping $20 billion in 2016
    The economy of Kazakhstan has outperformed in the first half of 2017 in the lead up to EXPO 2017 in Astana. GDP growth was recorded at ...
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Turkey might boost investments to Kazakhstan
    Turkey might increase its investments to Kazakhstan to $10 billion, said the country's Economy Minister Nihat Zeybekci at the Kazakhstan-Turkey Business Forum in Astana today.
    He stressed ...
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KASE day session: USDKZT_TOD = 332.68
    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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Russia's Sberbank, Yandex creating joint venture, bank to invest $500 million
    Russian state-owned bank Sberbank and the Yandex Internet-related services company are establishing a joint venture based on the Yandex.Market platform, the companies said in a joint ...
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Metals and Minerals

Evraz PLC lowered to sell at Zacks Investment Research
    Zacks Investment Research cut shares of Evraz PLC (NASDAQ:EVRZF) from a hold rating to a sell rating in a research report sent to investors on Friday, ...
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Shanghai metals fall on U.S.-N Korea tensions
    Most Chinese base metals were trading lower on Friday, pressured by uncertainty over U.S.-North Korea tensions that was shifting investment into gold and low-risk instruments.
    "Rising ...
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Gold hits two-month high on Trump, North Korea war of words
    The price of gold climbed to the highest levels in two months on Thursday as the United States and North Korea exchanged more threats, prompting investors ...
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Iron ore is ripping higher as Chinese steel prices surge
    Iron ore continues to march higher, hitting the highest level in four months on Thursday on the back of another surge in steel prices.
    According to Metal ...
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Trade and Consumer Goods

Kazakhstan harvested over 1.6 mln tonnes of grains - Ministry of Agriculture
    As of August 10, Kazakhstan harvested 1.624 mln tonnes of grains throughout the areas of 797 thsd ha (35.2% of the plan). The average yield reached ...
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Vegoil production in Kazakhstan gained 1.5%
    Kazakhstan’s fat-and-oil plants produced 160.7 KMT of vegoils in H1 2017, or 1.5% more than a year earlier, reports UkrAgroConsult.
    The lion’s share in vegoil output is ...
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USDA forecasts record Black Sea wheat crop
    Black Sea region wheat production is the major contributor to a big lift in the grain’s global outlook.
    The US Department of Agriculture has forecast wheat production ...
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Kazakhstan: horse milk gallops into the dairy market
    As Kazakhstan now bets on agriculture in an effort to boost the country’s production and exports, more attention is being paid to such traditional food products ...
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Stratégie Grains flags north-south divide in EU wheat yields, quality
    Stratégie Grains nudged higher its forecast for the European Union soft wheat harvest – but cautioned that the upgrade disguised mixed results, on quality as well ...
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Cotton futures plunge limit down, after US forecasts record yield
    Cotton futures plunged limit down after the US hiked expectations for the domestic output of the fibre – defying some expectations of a downgrade – lifting ...
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Corn, soya, wheat prices plunge on buoyant US crop supply hopes
    Corn, soyabean and wheat futures tumbled after US officials, in a much-anticipated briefing, pegged domestic supplies of all three crops above market expectations – with world ...
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Development Bank of Kazakhstan offers affordable financing for non-oil export trade
    The Development Bank of Kazakhstan (DBK), a subsidiary of Baiterek National Holding, is seeking to provide financing for 13 non-oil exporters as part of the Nurly ...
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Share of China's imports into Kazakhstan rises from 22% to 27%
    Kazakhstan's foreign trade turnover in the first six months of 2017 has grown by 29% over the same period last year. This includes the exports increased ...
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Communications and Transportation

ICAO promotes aviation development priorities in Kazakhstan
    Highlighting that only 5% of annual global development financing currently supports aviation infrastructure or related projects, ICAO Secretary General Dr. Fang Liu delivered a determined message ...
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Regional News

Resilience and risks of Chinese economy in transformation
    A year ago, economic forecasters at home and abroad bet on the sharp depreciation of the renminbi, or the yuan, in 2017 due to a flagging ...
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Azerbaijan, Turkmenistan shake hands to cooperate on energy deliveries to Europe
    Azerbaijan and Turkmenistan signed a declaration on strategic partnership, which envisages cooperation in the area of energy deliveries to Europe, a Sputnik correspondent reported Wednesday.
    The declaration ...
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EU supports rural and ecotourism project in Uzbekistan
    A project to support the construction of guest houses and the development of rural and ecotourism is getting started in Uzbekistan’s Tashkent and Surkhandarya regions, the ...
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AIIB considering infrastructure projects in Uzbekistan
    President of Uzbekistan Shavkat Mirziyoyev on August 8 in Tashkent received the President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun, who was on a ...
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Insecurity, lack of infrastructure and electricity cause business decline in Afghanistan
    A survey by the Afghanistan Chamber of Commerce and Industry (ACCI) shows that problems facing Afghan businesses continue and optimism for investments in the country has ...
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IS commander killed in clashes with Taliban in northern Afghanistan
    A key commander of the Islamic State (IS) group named Ansar has been killed in clash with the Taliban militants in Qushtipa district of the northern ...
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Prices and Statistics

Commodities
    

Date: August 11, 2017; Source: Bloomberg.com

Energy

Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/bbl. 48.39 -0.20 -0.41% Sep 2017 11:04 PM
USD/bbl. 51.55 -0.35 -0.67% Oct 2017 11:04 PM
USd/gal. 158.85 -1.43 -0.89% Sep 2017 11:04 PM
USD/MMBtu 2.98 -0.01 -0.20% Sep 2017 11:04 PM
USd/gal. 162.27 -0.86 -0.53% Sep 2017 11:04 PM
Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/t oz. 1,292.10 +2.00 +0.16% Dec 2017 11:04 PM
USD/t oz. 1,286.45 -0.08 -0.01% N/A 11:15 PM
USD/t oz. 17.09 +0.02 +0.12% Sep 2017 11:05 PM
USd/lb. 288.35 -1.95 -0.67% Sep 2017 11:04 PM
USD/t oz. 981.54 -0.19 -0.02% N/A 11:15 PM
Index Units Price Change %Change Contract Time (EDT) 2 Day
USd/bu. 373.50 +2.50 +0.67% Dec 2017 11:04 PM
USd/bu. 470.50 +1.75 +0.37% Dec 2017 11:04 PM
USD/MT 1,965.00 -40.00 -2.00% Dec 2017 1:29 PM
USd/lb. 68.16 +0.05 +0.07% Dec 2017 11:04 PM
USd/lb. 106.60 -1.45 -1.34% Oct 2017 2:04 PM

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Exchange Rates
    

Date: August 11, 2017; Source: the National Bank of Kazakhstan

1 AUSTRALIAN DOLLAR AUD / KZT 262.16  
1 AZERBAIJAN MANAT AZN / KZT 195.62  
10 ARMENIAN DRAM AMD / KZT 6.98  
1 BELARUS ROUBLE BYN / KZT 170.61  
1 BRAZILIAN REAL BRL / KZT 105.43  
10 HUNGARIAN FORINTS HUF / KZT 12.76  
1 HONG KONG DOLLAR HKD / KZT 42.57  
1 GEORGIAN LARI GEL / KZT 139.55  
1 DANISH KRONA DKK / KZT 52.38  
1 UAE DIRHAM AED / KZT 90.58  
1 US DOLLAR USD / KZT 332.69  
1 EURO EUR / KZT 389.58  
1 INDIAN RUPEE INR / KZT 5.21    
1000 IRANIAN RIAL IRR / KZT 10.13    
1 CANADIAN DOLLAR CAD / KZT 261.45  
1 CHINESE YUAN CNY / KZT 50.01  
1 KUWAIT DINAR KWD / KZT 1102.72  
1 KYRGYZIAN SOM KGS / KZT 4.82    
1 MALAYSIAN RINGGIT MYR / KZT 77.55  
1 MEXICAN PESO MXN / KZT 18.55  
1 MOLDAVIAN LEY MDL / KZT 18.69  
1 NORWEGIAN KRONA NOK / KZT 41.76  
1 POLISH ZLOTY PLN / KZT 91.19  
1 SAUDI RIYAL SAR / KZT 88.72  
1 RUSSIAN ROUBLE RUB / KZT 5.56  
1 SDR XDR / KZT 468.56  
1 SINGAPORE DOLLAR SGD / KZT 243.89  
1 TAJIKISTAN SOMONI TJS / KZT 37.78  
1 THAI BAHT THB / KZT 10.01  
1 TURKISH LIRA TRY / KZT 94.14  
100 UZBEKISTAN SUM UZS / KZT 8.07  
1 UKRAINIAN GRIVNA UAH / KZT 12.97  
1 GREAT BRITAIN POUND GBP / KZT 432.16  
1 CRECH KORUNA CZK / KZT 14.91  
1 SWEDISH KRONA SEK / KZT 40.72  
1 SWISS FRANC CHF / KZT 344.44  
1 SOUTH AFRICAN RAND ZAR / KZT 24.87  
100 SOUTH KOREAN WON KRW / KZT 29.15  
1 JAPANESE YEN JPY / KZT 3.03    

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