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News: Thursday, July 20, 2017 -- Issue 2783 http://www.newsline.kz/rss/

Article of the Day

Kazakhstan to put in electronic customs clearance
    Kazakhstan will introduce the electronic declaring procedure without supporting documents at customs, Deputy Minister of National Economy Yernar Bakenov told a round table themed "The New Customs Code of the Republic of Kazakhstan", Kazinform reports.
    "The Draft Customs Code of the Republic of Kazakhstan includes the norms specified by the Eurasian Economic Union Customs Code and establishes the legal relations that are completely controled by national rulemaking. The main difference between the two codes from the current legislation is a fundamentally new approach to customs regulation. The main principle of the new customs regulation is the automation of business processes at customs. We implement electronic declaring. This means that the declaring procedure will be carried out in electronic format. There is no need to attach any supporting documents. All the required information is put right in the declaration. Declaring in hard copies will remain in certain cases only, for example, in case of technical failures," Bakenov said, presenting the bill.
    According to him, adoption of the new Code will make it possible to release goods automatically. The customs authorities' information system will issue a declaration without officials if no violations found. Moreover, the draft new Code specifies the single window system. Thus, the customs authorities will now not require a declarant to provide the documents they can obtain using the information systems of state bodies within information exchange.
    As Bakenov said, in addition to the emphasis on information technology, the Code offers a number of opportunities for participants of foreign economic activities enabling them to optimize their expenses. It introduces the mechanism of advance payments - a declarant will be able to pay all the due amount of customs payments without breaking down into duties, fees and taxes. The customs authorities' system will further distribute them by types of payment. This reduces the risk of debt or erroneous payment. All participants of foreign economic activities will be able to obtain a delay in paying customs duties and taxes. If a declarant cannot immediately square accounts with the budget as to customs duties and taxes for any reason, the state entitles him to use a deferral for a month with interest charges, and for six months in some cases. In certain cases, installment plan for up to 6 months without interest is provided, for instance, when importing agricultural machinery, seed materials and pedigree animals.
    The vice-minister also noted that for investors, the law would broaden the investors' opportunities to release goods before filing a customs declaration. As part of the implementation of investment projects, investors will be able to withdraw their goods over a claim with a subsequent filing of a declaration no later than the 10th day of the following month. This norm extends now to free warehouses, special economic zones, customs processing procedures.
    Reported by Kazinform.

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Kazakhstan General

New Kazakhstan policy aims to achieve greater religious stability
    A newly adopted religious policy in Kazakhstan for 2017-2020 aims to strengthen tolerance and combat extremism in society.
    The effort comes with hundreds of radicalised Kazakhstanis ...
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6 young people wounded in shootout in Kazakhstan
    At least six people received injuries as a result of the skirmish among young people on the night of July 18 in Kurdyk village, Kara-Kiya district, ...
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Alert on latest amendments to the Criminal Code in Kazakhstan
    On 17 July 2017, the Law of the Republic of Kazakhstan dated 3 July 2017 No. 84-VI On amendments and additions to some legislative acts of ...
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Fervent heat to descend on South Kazakhstan in upcoming days
    Fair weather with some clouds is expected in southern Kazakhstan in three upcoming days. However, Kazhydromet warns that fervent head is heading to that part of ...
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Expo-2017

Astana Economic Forum Focuses on Sustainable Energy
    Renewable energy and green economy as well as sustainable economic growth, world trade and infrastructure were the principal themes of the recent Astana Economic Forum (AEF) ...
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Fans besiege Korean celebrity at Astana Expo 2017
    The National Day of the Republic of Korea has been celebrated in a large cultural program at Expo 2017 international exhibition, Kazinform correspondent reports.
    As tradition demands, ...
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African pavilion tops the list of most popular at EXPO-2017
    The results of the last week at the international exhibition EXPO-2017 in Astana were announced, Kazinform correspondent reports.
    According to EXPO's media center, over 277,000 people visited ...
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Oil and Gas Sector

Londons investor battle steps up over Kazakhstans oil riches
    Trade minister Greg Hands leads a charm offensive in Kazakhstans capital Astana today on a mission to drum up business for the City of London in ...
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New eurobonds of Nostrum Oil and Gas
    Nostrum Oil and Gas placed a new issue of Eurobonds in USD amounted to $725mn with the 8% return for the period of 5 years.
    According ...
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Med Crude-Urals diffs jump in NWE, down in Mediterranean
    Kazakhstans benchmark Urals crude differentials in the northwest Europe jumped on Wednesday on strong margins and healthy demand, while in the Mediterranean the grade was softer, ...
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Oil jumps to six-week high on surprisingly big US inventory draws
    Oil prices jumped almost 2 percent to a six-week high on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and ...
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UK natural gas: Robust system weighs on NBP near-term gas prices
    UK prompt natural gas near-term prices extended losses on the day Wednesday morning on the back of comfortable system fundamentals.
    Within-day and day-ahead were trading at 34.20 ...
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Finance and Investment

Economic growth accelerated in the second quarter
    According to preliminary data, the economic growth in the first half of this year reached 4.2% yoy, after 3.6% in the first quarter. In our assessment, ...
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Mortgage lending in Kazakhstan picks up with volume increase by KZT118 billion
    In May this year, the mortgage market experienced a sharp jump - just during the month the volume of mortgage loans in the country increased by ...
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Moody's says Halyk's acquisition of Qazkom trades short-term pain for long-term gain
    The acquisition by Halyk Savings Bank of Kazakhstan of its insolvent rival Kazkommertsbank; will impact the group's core capital ratios, before the bank's strong earnings restore ...
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Interpol removes ex-banker Ablyazov from wanted list
    Interpol excluded the former chairman of the board of directors of Kazakhstan's BTA Bank Mukhtar Ablyazov from the list of persons on international wanted list, TASS ...
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KASE day session: USDKZT_TOD = 326.13
    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 volatility in session
    Shares of Kazakhstan Potash Corp Ltd (KPC.AX) have seen the needle move 29.41% or 0.005 in the most recent session. The ASX listed company saw a ...
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Central Asia Metals production results for 1H2017 are in line with expectations
    In the beginning of July, the company published production results for 6M 2017.
    According to the report, Central Asia Metals (CAML) produced 7 027 tons of copper ...
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Evraz sees Russian, Kazakh Q3 crude steel output up 3 pct q/q
    Russia's No.2 steelmaker Evraz said on Wednesday it expected its third-quarter crude steel output in Russia and Kazakhstan to rise by 3 percent on the second ...
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LME copper hovers near 4-1/2 month peak, China outlook underpins
    London copper consolidated near four-and-a-half month highs on Wednesday, weighed down by a slightly firmer dollar but supported by a pick-up in China's industrial activity that ...
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Gold retreats towards $1,240/oz as dollar recovers from 10-month low
    Gold retreated towards $1,240 an ounce on Wednesday as the dollar's recovery from 10-month lows dampened upward momentum in the metal after three straight sessions of ...
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Live spot prices precious metals (USD / Troy Oz)
    --- / BID / ASK / +/- / LDN
    GOLD / 1,238.45 / 1,238.75 / -2.90 / 04:47
    SILVER / 16.225 / 16.250 / -0.027 / 04:47
    PLATINUM / 917.0 / ...
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China iron ore rises for fourth day, as coking coal eases on profit taking
    China iron ore futures rose a fourth day on Thursday, holding near multi-month highs as speculative investors continued to add bullish bets amid hopes of robust ...
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Trade and Consumer Goods

Grain harvest is picking up pace in South Kazakhstan region
    A total 218 Th ha was planted to cereals in the region, including 165 Th ha of winter ones as the most productive crops. The rest ...
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Tight wheat supply risks leaving U.K. reliant on imports again
    The U.K., the European Unions third-largest wheat grower, is entering the new season with the unusual prospect that it may be a net importer of the ...
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Dry weather threatens top quality wheat in world awash with grain
    Hot, dry weather has seen high-protein wheat emerge as the one tight spot in a global grains market swamped with abundant stocks, after four years of ...
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Communications and Transportation

Tele2 Kazakhstan net sales swell by 18% in Q2 amid new tariffs
    Net sales at mobile operator Tele2 Kazakhstan grew by 18 percent year-on-year to SEK 604 million from SEK 713 million in the second quarter of this ...
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Air Astana was built without state subsidies, says airline president
    Air Astana, Kazakhstans national carrier and a leading airline in the Central Asian region, was built without state help, said company president Peter Foster in an ...
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Halyk Finance views Kazakhtelecom financial results for 1q2017
    According to its statements, the company increased revenue by 2.1% relative to 1q2016, from T49 023mln to T50 061mln. An increase in cost of goods sold ...
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Javid Gurbanov: cargo transportation via BTK railway to increase to 500,000 containers
    An agreement to establish a logistics center was signed in Kars In the framework of the Baku-Tbilisi-Kars (BTK) railway project.
    Javid Gurbanov, the head of Azerbaijan Railways ...
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Culture and Society

Culture Minister announces Kazakhstani film premieres
    At the briefing in the Government today, the Minister of Culture and Sport of the Republic of Kazakhstan, Arystanbek Mukhamediuly announced the coming Kazakhstani film premieres, ...
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Tourism

New tourism development project launched in Almaty region
    Amazing beauties of Zhetysu will be shown in MOLOOKO online magazine, according to the authors and heads of the magazine.
    Speaking at the briefing of the regional ...
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Regional News

Putin puts digital economy on list of main goals of Russia's strategic development
    The digital economy should be included in the list of the main dgoals of Russia's strategic development until 2025. That is according to the minutes of ...
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Russias farm unions, government issue different harvest forecasts
    In 2017, the general harvest of grain crops in Russia will total nearly 115-118 mln tonnes, and in terms of favourable weather conditions, the figures will ...
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Rouble trying to build on its BRICS base
    The rouble occupies the 20th place out of 150 currencies in terms of its use in international settlements and the Russian currency accounts for 0.26% of ...
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New industrial wave will boost Chinas economy
    The nation's next wave of growth will be fueled by new industries such as biotechnology, clean energy and advanced manufacturing, according to a government think thank.
    The ...
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Kyrgyzstan: construction of Upper Naryn cascade of HPPs may begin in October 2017
    The construction of the Upper Naryn cascade of HPPs may begin in October this year, director of the project for the construction of Liglass Trading CZ, ...
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Uzbekistan reforms its tax system
    The tax system of Uzbekistan is developing in line with the countrys course of reforms. Currently, Uzbekistan plans to reform its tax system following the signing ...
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Prices and Statistics

Commodities
    

Date: July 20, 2017; Source: Bloomberg.com

Energy

Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/bbl. 47.10 -0.02 -0.04% Aug 2017 1:27 AM
USD/bbl. 49.66 -0.04 -0.08% Sep 2017 1:43 AM
USd/gal. 161.25 -0.44 -0.27% Aug 2017 1:09 AM
USD/MMBtu 3.08 +0.01 +0.29% Aug 2017 1:44 AM
USd/gal. 154.93 -0.21 -0.14% Aug 2017 1:41 AM
 
Index Units Price Change %Change Contract Time (EDT) 2 Day
USD/t oz. 1,237.70 -4.30 -0.35% Aug 2017 1:44 AM
USD/t oz. 1,238.28 -2.97 -0.24% N/A 1:54 AM
USD/t oz. 16.20 -0.10 -0.60% Sep 2017 1:44 AM
USd/lb. 271.15 +0.10 +0.04% Sep 2017 1:44 AM
USD/t oz. 918.56 -2.40 -0.26% N/A 1:54 AM
Index Units Price Change %Change Contract Time (EDT) 2 Day
USd/bu. 381.00 -1.50 -0.39% Sep 2017 1:44 AM
USd/bu. 497.50 -5.50 -1.09% Sep 2017 1:43 AM
USD/MT 1,944.00 +33.00 +1.73% Sep 2017 7/19/2017
USd/lb. 68.25 +0.14 +0.21% Dec 2017 1:36 AM
USd/lb. 118.88 +2.00 +1.71% Oct 2017 7/19/2017
 

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Exchange Rates
    

Date: July 20, 2017; Source: the National Bank of Kazakhstan

1 AUSTRALIAN DOLLAR AUD / KZT 258.53    
1 AZERBAIJAN MANAT AZN / KZT 191.58    
10 ARMENIAN DRAM AMD / KZT 6.83    
1 BELARUS ROUBLE BYN / KZT 167.53    
1 BRAZILIAN REAL BRL / KZT 103.36    
10 HUNGARIAN FORINTS HUF / KZT 12.27    
1 HONG KONG DOLLAR HKD / KZT 41.76    
1 GEORGIAN LARI GEL / KZT 136.3    
1 DANISH KRONA DKK / KZT 50.55    
1 UAE DIRHAM AED / KZT 88.76    
1 US DOLLAR USD / KZT 326.02    
1 EURO EUR / KZT 375.87    
1 INDIAN RUPEE INR / KZT 5.07    
1000 IRANIAN RIAL IRR / KZT 9.98    
1 CANADIAN DOLLAR CAD / KZT 258.05    
1 CHINESE YUAN CNY / KZT 48.27    
1 KUWAIT DINAR KWD / KZT 1080.61    
1 KYRGYZIAN SOM KGS / KZT 4.72    
1 MALAYSIAN RINGGIT MYR / KZT 76.09    
1 MEXICAN PESO MXN / KZT 18.62    
1 MOLDAVIAN LEY MDL / KZT 18.07    
1 NORWEGIAN KRONA NOK / KZT 40.41    
1 POLISH ZLOTY PLN / KZT 89.33    
1 SAUDI RIYAL SAR / KZT 86.93    
1 RUSSIAN ROUBLE RUB / KZT 5.52    
1 SDR XDR / KZT 455.91    
1 SINGAPORE DOLLAR SGD / KZT 238.28    
1 TAJIKISTAN SOMONI TJS / KZT 37.01    
1 THAI BAHT THB / KZT 9.7    
1 TURKISH LIRA TRY / KZT 92.39    
100 UZBEKISTAN SUM UZS / KZT 8.07    
1 UKRAINIAN GRIVNA UAH / KZT 12.56    
1 GREAT BRITAIN POUND GBP / KZT 424.64    
1 CRECH KORUNA CZK / KZT 14.44    
1 SWEDISH KRONA SEK / KZT 39.32    
1 SWISS FRANC CHF / KZT 341.92    
1 SOUTH AFRICAN RAND ZAR / KZT 25.25    
100 SOUTH KOREAN WON KRW / KZT 29.07    
1 JAPANESE YEN JPY / KZT 2.91    

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