Issue 3089 - 16.10.2018
16.10.2018

Kazakhstan raises rate 25 bps on risks of higher inflation

Kazakhstan’s central bank raised its base rate by 25 basis points to 9.25 percent due to an increase in the risks of higher inflation from the tenge’s depreciation, with future decisions about the base rate dependent on how inflation compares with the bank’s target.

It is the first rate hike by the National Bank of Kazakhstan (NBK) since February 2016 when the base rate was raised to 17.0 percent to curb rising inflation which hit 17.7 percent in July that year.

In May 2016 the NBK began lowering the rate and remained in an easing stance until June this year when it switched to a neutral policy stance.

Between May 2016 and June 2018 the NBK cut its base rate by a total of 800 basis points, including four cuts this year by a total of 125 points.

But in September the central bank said inflation was falling slower than it had expected while economic activity was continuing to strengthen and the tenge was depreciating.

While the central bank said it was maintaining the current interest corridor of 1 percentage points plus/minus around the base rate, it also said it was considering narrowing the boundaries of the corridor to improve the operational effectiveness of its monetary operations so the tenge overnight rate, TONIA, will remain within the target corridor and converge to the target rate.

Headline inflation in Kazakhstan rose to 6.1 percent in September from 6.0 percent in August – a level the central bank described as moderate – and is forecast to remain within the 2018 inflation target of 5.0 – 7.0 percent.

In 2019 the central bank said it expects inflation to “smoothly enter the new corridor” of 4.0 – 6.0 percent and remain close to the upper limit of 6.0 percent.

An increase in exchange rate volatility had triggered a rise in inflationary expectations to 6.4 percent in September from 5.6 percent in July and domestic demand is continuing to expand due to rising incomes.

An increase in the minimum wage will add inflationary pressure while a economic activity remains above the country’s potential, the NBK said, adding the higher base rate will help increase the demand for tenge assets and help keep monetary conditions close to neutral.

In April this year the tenge was hit by worries over a fallout of new U.S. sanctions on Russia and since then it has continued to depreciate as U.S. interest rates rise.

Today the tenge was trading at 368.3 to the U.S. dollar, down 9.6 percent this year.

In August 2015 the tenge plunged following the central bank’s move to a floating exchange rate regime in response to capital outflows and the conversion of many tenge bank deposits to foreign currency. Oil accounts for about 60 percent of Kazakhstan’s exports and over 10 percent of its Gross Domestic Product.

By CentralBankNews.info

Kazakhstan General

16.10.2018

President briefed on tourism, cinema and sports in Kazakhstan

President Nursultan Nazarbayev met with the Minister of Culture and Sports Arystanbek Mukhamediuly, according to the Akorda press service. Key areas of the ministry’s activities were brought up, including legislation in the field of cinematography and development of tourism and sports. According to the Minister of Culture, the bill On...

President Nursultan Nazarbayev met with the Minister of Culture and Sports Arystanbek Mukhamediuly, according to the Akorda press service. Key areas of the ministry’s activities were brought up, including legislation in the field of cinematography and development of tourism and sports. According to the Minister of Culture, the bill On...

16.10.2018

Kazakh government discusses industrialisation and attraction of investments

Prime Minister Bakytzhan Sagintayev held a video conference on the progress of the Third Modernization of Kazakhstan, according to the press service of the Head of Government of the Republic of Kazakhstan.

During the meeting, preliminary reports for nine months and plans before the end of 2018 on digitalization of sectors...

Prime Minister Bakytzhan Sagintayev held a video conference on the progress of the Third Modernization of Kazakhstan, according to the press service of the Head of Government of the Republic of Kazakhstan.

During the meeting, preliminary reports for nine months and plans before the end of 2018 on digitalization of sectors...

16.10.2018

Spring to come to Kazakhstan on time with heavy rainfall

Spring in 2019 will come to Kazakhstan on time, while temperature fluctuations and heavy precipitation will be observed, the director of the RSE Kazhydromet Marina Schmidt said.

“The beginning of the calendar spring will come in average years and will be marked by alternating the return of cold and thaw, as...

Spring in 2019 will come to Kazakhstan on time, while temperature fluctuations and heavy precipitation will be observed, the director of the RSE Kazhydromet Marina Schmidt said.

“The beginning of the calendar spring will come in average years and will be marked by alternating the return of cold and thaw, as...

16.10.2018

Dariga Nazarbayeva told about per capita financing principle of pupils

Per capita education financing has already been introduced in a pilot mode in some educational facilities which, according to the Deputy, will lead to an increase in private schools with the participation of investors. Deputy of the Senate of parliament Dariga Nazarbayeva and Mayor of Almaty Baurzhan Baibek met with directors...

Per capita education financing has already been introduced in a pilot mode in some educational facilities which, according to the Deputy, will lead to an increase in private schools with the participation of investors. Deputy of the Senate of parliament Dariga Nazarbayeva and Mayor of Almaty Baurzhan Baibek met with directors...

Oil and Gas Sector

16.10.2018

Tengiz consortium spends $5 billion on 66 new gas wells

Sixty-six gas wells will be drilled at the Tengiz field as part of the $5 billion North East Ring Project (NERP), said Union of Kazakhstan Oilfield Service Companies Chair Rashid Zhaksylykov at an Oct. 10 press conference. Tengiz is Kazakhstan’s major oil and gas field operated by the Chevron-led joint...

Sixty-six gas wells will be drilled at the Tengiz field as part of the $5 billion North East Ring Project (NERP), said Union of Kazakhstan Oilfield Service Companies Chair Rashid Zhaksylykov at an Oct. 10 press conference. Tengiz is Kazakhstan’s major oil and gas field operated by the Chevron-led joint...

16.10.2018

KazTransGas signs an agreement to increase gas exports to China

KazTransGas has signed a long-term five-year contract with PetroChina International Company Limited on increasing the export of Kazakh gas to 10 billion cubic metres per year since 2019.

This was reported by the press service of KazTranGaz. The document was signed on October 12 in Beijing. The first agreement on the...

KazTransGas has signed a long-term five-year contract with PetroChina International Company Limited on increasing the export of Kazakh gas to 10 billion cubic metres per year since 2019.

This was reported by the press service of KazTranGaz. The document was signed on October 12 in Beijing. The first agreement on the...

16.10.2018

Gasoline production in Kazakhstan increases by 22%

In the first nine months of 2018, the volume of gasoline production in Kazakhstan amounted to 2.84 million tonnes, which is 21.8% more than in the same period of 2017, the statistics committee of the Ministry of National Economy of Kazakhstan reported.

During the reporting period, the volume of kerosene production...

In the first nine months of 2018, the volume of gasoline production in Kazakhstan amounted to 2.84 million tonnes, which is 21.8% more than in the same period of 2017, the statistics committee of the Ministry of National Economy of Kazakhstan reported.

During the reporting period, the volume of kerosene production...

16.10.2018

Italians in Aktau

A memorandum of cooperation with the Italian Lonigo was signed in Aktau between the municipalities of the two cities in order to develop joint investment projects.

The Italian delegation with the participation of the mayor of Lonigo Luca Restello, his adviser Diego Markazan, deputy Ambassador of Italy to Kazakhstan Marco Ezpozto...

A memorandum of cooperation with the Italian Lonigo was signed in Aktau between the municipalities of the two cities in order to develop joint investment projects.

The Italian delegation with the participation of the mayor of Lonigo Luca Restello, his adviser Diego Markazan, deputy Ambassador of Italy to Kazakhstan Marco Ezpozto...

16.10.2018

Offshore contractors pin hopes on better times by the end of the decade

Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude LCoc1 selling for more than $80 a barrel and some are forecasting a full turn in the market by 2020. At the depths of a global...

Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude LCoc1 selling for more than $80 a barrel and some are forecasting a full turn in the market by 2020. At the depths of a global...

16.10.2018

Urals on the lower end of the market on sluggish demand

Kazakhstan’s benchmark Urals’ crude differentials in northwest Europe hit their lowest level since May 4 on Monday on ample supply and sluggish demand for October barrels, while traders expect preliminary loading plans for early October to emerge on Tuesday.

Russia’s Surgutneftegaz added an extra cargo of Urals crude oil to the...

Kazakhstan’s benchmark Urals’ crude differentials in northwest Europe hit their lowest level since May 4 on Monday on ample supply and sluggish demand for October barrels, while traders expect preliminary loading plans for early October to emerge on Tuesday.

Russia’s Surgutneftegaz added an extra cargo of Urals crude oil to the...

16.10.2018

Oil benchmark flat on open questions over demand expectations

Oil prices steadied on Monday, October 15, supported by geopolitical tension over the disappearance of a Saudi journalist, which has stoked worries about supplies from the world’s top crude exporter, but weighed by a falling equities market and concern over long-term demand outlook.

Brent crude futures rose 33 cents to $80.76...

Oil prices steadied on Monday, October 15, supported by geopolitical tension over the disappearance of a Saudi journalist, which has stoked worries about supplies from the world’s top crude exporter, but weighed by a falling equities market and concern over long-term demand outlook.

Brent crude futures rose 33 cents to $80.76...

Finance and Investment

16.10.2018

Kazakhstan looks to stave off rate hike with other ‘manoeuvres’

Kazakhstan’s central bank has a range of options besides changing its key interest rate as it looks to fine-tune monetary policy after markets stabilised and inflation came in below expectations, according to Governor Daniyar Akishev.

With the benchmark held twice at 9 percent after four cuts and anticipation that a hike...

Kazakhstan’s central bank has a range of options besides changing its key interest rate as it looks to fine-tune monetary policy after markets stabilised and inflation came in below expectations, according to Governor Daniyar Akishev.

With the benchmark held twice at 9 percent after four cuts and anticipation that a hike...

16.10.2018

Russia prevails in cash transfers out of Kazakhstan

The volume of remittances sent by individuals from Kazakhstan abroad through the MTS for January-August of the current year amounted to 380.1 billion tenge, which is 27.5% more than the same period last year. In the corresponding period a year earlier, growth was 25.2%.

The number of transactions for 8 months...

The volume of remittances sent by individuals from Kazakhstan abroad through the MTS for January-August of the current year amounted to 380.1 billion tenge, which is 27.5% more than the same period last year. In the corresponding period a year earlier, growth was 25.2%.

The number of transactions for 8 months...

16.10.2018

Number of players in the microcredit system decreases rapidly

The number of microcredit organisations at the end of the second quarter of 2018 decreased by 9.9% (26 organisations) and amounted to 236 companies.

The trend of reducing the number of microloan organisations began in 2014, when their number was 661 organisations. A year later (Q2 2015), their number was already...

The number of microcredit organisations at the end of the second quarter of 2018 decreased by 9.9% (26 organisations) and amounted to 236 companies.

The trend of reducing the number of microloan organisations began in 2014, when their number was 661 organisations. A year later (Q2 2015), their number was already...

16.10.2018

Kazakhstan posts 21.6% on-year increase in capital investments in Q1-3

Investments into equity for the past January-September 2018 reached KZT 7517.1 bln that is 21.6% more than in the same period of 2017, Statistics Committee of the Kazakh National Economy Ministry reports, according to Kazinform.

Investments into vehicles, equipment, transport, instruments and their major repairs increased by 16.5% in...

Investments into equity for the past January-September 2018 reached KZT 7517.1 bln that is 21.6% more than in the same period of 2017, Statistics Committee of the Kazakh National Economy Ministry reports, according to Kazinform.

Investments into vehicles, equipment, transport, instruments and their major repairs increased by 16.5% in January-September this year....

16.10.2018

Encounter due between Kazakh head of state, European politicians and businessmen

Kazakh President Nursultan Nazarbayev will pay an official visit to Finland on October 16-17 at the invitation of President of Finland Sauli Väinämö Niinistö. It is the second official state visit of the Kazakh leader to Finland. The President paid the first visit in March 2009. 

"According to the trip program...

Kazakh President Nursultan Nazarbayev will pay an official visit to Finland on October 16-17 at the invitation of President of Finland Sauli Väinämö Niinistö. It is the second official state visit of the Kazakh leader to Finland. The President paid the first visit in March 2009. 

"According to the trip program...

16.10.2018

World Bank allocates loan for Kazakh, Kyrgyz tourism

Almost 2.5 million people are expected to benefit from sustainable tourism development and greater regional connectivity in Kyrgyzstan’s Issyk-Kul region as part of the Central Asia Regional Links programme’s third phase (CARs-3), reports devdiscourse.com.

The third phase was approved by the World Bank in October, for which $55 million will be...

Almost 2.5 million people are expected to benefit from sustainable tourism development and greater regional connectivity in Kyrgyzstan’s Issyk-Kul region as part of the Central Asia Regional Links programme’s third phase (CARs-3), reports devdiscourse.com.

The third phase was approved by the World Bank in October, for which $55 million will be...

16.10.2018

Demand for Russian rouble, euro on the rise in Kazakhstan

Recently the purchase of Russian rubbles and euros increased in Kazakhstan. A year-on-year 56.2 percent rise in expenses for the Russian rubbles in cash at the National Bank is associated with the increased use of national currencies in trade relations, especially in the border regions, according to the National Bank.

“In...

Recently the purchase of Russian rubbles and euros increased in Kazakhstan. A year-on-year 56.2 percent rise in expenses for the Russian rubbles in cash at the National Bank is associated with the increased use of national currencies in trade relations, especially in the border regions, according to the National Bank.

“In...

16.10.2018

Settlements in dollars among EEU countries decrease to 18.3 percent

The share of payments in U.S. dollars in the total amount of mutual payments for goods and services between the countries of the Eurasian Economic Union decreased from 30 percent in 2013 to 18.3 percent in 2017, aeport of the Eurasian Development Bank says.

It is noted that the countries of the region are actively discussing the possibility of switching to mutual settlements in national currencies. There...

The share of payments in U.S. dollars in the total amount of mutual payments for goods and services between the countries of the Eurasian Economic Union decreased from 30 percent in 2013 to 18.3 percent in 2017, aeport of the Eurasian Development Bank says.

It is noted that the countries of the region are actively discussing the possibility of switching to mutual settlements in national currencies. There...

16.10.2018

Greenback drops marginally to KZT 369.77 on October 15

The national currency exchange, based at the Almaty stock exchange KASE, filed the following trade results.

Based on results of trades on the spot-market:

- weighted average US dollar rate with settlements T+1 in tenge (USDKZT_TOM) made KZT369.77 per US dollar at the trades volume USD47,750 th.;

- on US dollar with settlements...

The national currency exchange, based at the Almaty stock exchange KASE, filed the following trade results.

Based on results of trades on the spot-market:

- weighted average US dollar rate with settlements T+1 in tenge (USDKZT_TOM) made KZT369.77 per US dollar at the trades volume USD47,750 th.;

- on US dollar with settlements...

16.10.2018

Dollar pulled down by negative US market news

The U.S. dollar dipped on Monday after retail sales data for September missed economists' expectations, and as benchmark U.S. Treasury yields consolidated after last week hitting their highest level in seven years.

U.S. retail sales barely rose in September as a rebound in motor vehicle purchases was offset by the biggest...

The U.S. dollar dipped on Monday after retail sales data for September missed economists' expectations, and as benchmark U.S. Treasury yields consolidated after last week hitting their highest level in seven years.

U.S. retail sales barely rose in September as a rebound in motor vehicle purchases was offset by the biggest...

Metals and Minerals

16.10.2018

Kazatomprom plans IPO on the London Stock Exchange and the AIFC Exchange

The Kazatomprom national atomic company has announced plans for an initial public offering of securities on the LSE, the company said. "Kazatomprom announces its intention to publish a registration document today and, in accordance with market conditions, considers an initial public offering (IPO) related to the sale of the company's...

The Kazatomprom national atomic company has announced plans for an initial public offering of securities on the LSE, the company said. "Kazatomprom announces its intention to publish a registration document today and, in accordance with market conditions, considers an initial public offering (IPO) related to the sale of the company's...

16.10.2018

Gold posts gain on equity losses

Gold rose more than 1 percent on Monday to its highest in about 2-1/2 months as investors sought refuge in the metal after mounting tensions between Western powers and Saudi Arabia compounded jitters in global stock markets.

Spot gold was up 1 percent at $1,230.05 per ounce at 1406 GMT, having...

Gold rose more than 1 percent on Monday to its highest in about 2-1/2 months as investors sought refuge in the metal after mounting tensions between Western powers and Saudi Arabia compounded jitters in global stock markets.

Spot gold was up 1 percent at $1,230.05 per ounce at 1406 GMT, having...

16.10.2018

Monetary, trade turmoil keeps base metal prices under pressure

London metal prices slipped on October 15 as the U.S. dollar strengthened and on concerns that escalating global trade tensions could hurt demand.

Concerns remain that trade tensions between China and the U.S. may dampen demand for metals even as China’s September trade data proved more resilient than expected last week. The...

London metal prices slipped on October 15 as the U.S. dollar strengthened and on concerns that escalating global trade tensions could hurt demand.

Concerns remain that trade tensions between China and the U.S. may dampen demand for metals even as China’s September trade data proved more resilient than expected last week. The...

Energy Industry

16.10.2018

Kazakhstan awards 61.5 MW of hydro capacity

Kazakhstan said last week that three projects with a combined power capacity of 61.5 MW have won its hydropower tender. During the bidding process, five companies submitted bids for 101.08 MW of projects, with individual proposals ranging from 13.88 MW to 26 MW in size. According to the Ministry of Energy, the lowest bid was for KZT 14.85 (USD 0.04/EUR 0.03) and the highest was of KZT 16.71 per kWh, compared to a starting price of KZT 22.67 per kWh. The table below presents the list of winners.
Winner Capacity Price per kWh
KazHydro Operating LLP 13.88 MW KZT 14.85
Cascade Karatal HPP LLP 21.6 MW KZT 14.90
Korinskaya HPP-2 LLP 26 MW KZT 15.48
This tender is part of a series of auctions taking place from October 3 to October 18 as the government aims to contract 1 GW of renewable power. The targeted capacity is 290 MW of solar, 620 MW of wind, 75 MW of hydropower and 15 MW of biopower. Last week, 250 MW of wind schemes won a tender. Reported by Renewables Now.

Kazakhstan said last week that three projects with a combined power capacity of 61.5 MW have won its hydropower tender.

During the bidding process, five companies submitted bids for 101.08 MW of projects, with individual proposals ranging from 13.88 MW to 26 MW in size.

According to the Ministry of Energy, the lowest bid was for KZT 14.85 (USD 0.04/EUR 0.03) and the highest was of KZT 16.71 per kWh, compared to a starting price of KZT 22.67 per kWh.

The table below presents the list of winners.

Winner

Capacity

Price per kWh

KazHydro Operating LLP

13.88 MW

KZT 14.85

Cascade Karatal HPP LLP

21.6 MW

KZT 14.90

Korinskaya HPP-2 LLP

26 MW

KZT 15.48

This tender is part of a series of auctions taking place from October 3 to October 18 as the government aims to contract 1 GW of renewable power. The targeted capacity is 290 MW of solar, 620 MW of wind, 75 MW of hydropower and 15 MW of biopower. Last week, 250 MW of wind schemes won a tender.

Reported by Renewables Now.

Trade and Consumer Goods

16.10.2018

Milk and cream production increases by 8% on-year

In the first 8 months, 340.3 thousand tonnes of milk and cream were produced in Kazakhstan - 7.7% more than a year earlier.

Almost two thirds of the production fall on three key regions - North Kazakhstan (25.7% of Kazakhstan), Almaty (20.3%) and Kostanay (16.6%) regions.

Among the key companies in the...

In the first 8 months, 340.3 thousand tonnes of milk and cream were produced in Kazakhstan - 7.7% more than a year earlier.

Almost two thirds of the production fall on three key regions - North Kazakhstan (25.7% of Kazakhstan), Almaty (20.3%) and Kostanay (16.6%) regions.

Among the key companies in the...

16.10.2018

KazAviaSpektr plant to be given for the production of milk powder

On the site of the former KazAviaSpektr factory, they will build workshops of the enterprise for the production of dried horse milk. The Minister of Agriculture, Umirzak Shukeyev, promised to help in the implementation of this project, the Kapital.kz business information centre reports, citing the press service of the administration...

On the site of the former KazAviaSpektr factory, they will build workshops of the enterprise for the production of dried horse milk. The Minister of Agriculture, Umirzak Shukeyev, promised to help in the implementation of this project, the Kapital.kz business information centre reports, citing the press service of the administration...

16.10.2018

Kazakh researchers develop affordable gluten-free food products

The Kazakh Research Institute of Agricultural Products Processing recently developed local, affordable gluten-free products, the press service of the Astana city administration reported Oct. 10.

Being expensive, these products are not always available to residents suffering from celiac disease.

According to the results of the survey, in Kazakhstan 67 percent of patients...

The Kazakh Research Institute of Agricultural Products Processing recently developed local, affordable gluten-free products, the press service of the Astana city administration reported Oct. 10.

Being expensive, these products are not always available to residents suffering from celiac disease.

According to the results of the survey, in Kazakhstan 67 percent of patients...

16.10.2018

Kyrgyzstan and Kazakhstan: chronicles of a trade war

Only five days was enough for Kyrgyzstan to first ban the import of poultry meat and eggs of Kazakhstani production, and then allow it again. Astana managed to “show teeth”, in response to finding particularly dangerous diseases in Kyrgyzstan. However, it did not come down to a big conflict.

The decision...

Only five days was enough for Kyrgyzstan to first ban the import of poultry meat and eggs of Kazakhstani production, and then allow it again. Astana managed to “show teeth”, in response to finding particularly dangerous diseases in Kyrgyzstan. However, it did not come down to a big conflict.

The decision...

Agriculture

16.10.2018

Gross grain harvest in Kazakhstan exceeds 21.7 million tonnes

According to a report by the Ministry of Agriculture, by October 15, 21,735.2 thousand tonnes of grain of the new crop were received in the republic.

In the department's administration, it is noted that by now the harvesting of grain has been carried out on an area of 14,861.7 thousand hectares...

According to a report by the Ministry of Agriculture, by October 15, 21,735.2 thousand tonnes of grain of the new crop were received in the republic.

In the department's administration, it is noted that by now the harvesting of grain has been carried out on an area of 14,861.7 thousand hectares...

16.10.2018

As of October 1, Kazakhstan’s grain stocks totaled over 15 mln tonnes

As of October 1, 2018, the registered carry-over stocks of grains and pulses in Kazakhstan totaled 15.639 mln tonnes. In particular, farming households stored 3.939 thsd tonnes of grains, reported the Statistics Committee at the Ministry of National Economy of the Republic of Kazakhstan. Wheat formed the major share of the...

As of October 1, 2018, the registered carry-over stocks of grains and pulses in Kazakhstan totaled 15.639 mln tonnes. In particular, farming households stored 3.939 thsd tonnes of grains, reported the Statistics Committee at the Ministry of National Economy of the Republic of Kazakhstan. Wheat formed the major share of the...

16.10.2018

Kazakh southeastern province develops new rice species

In the next 3-4 years, new varieties of rice will account for 60-70 percent of rice fields in the Kyzylorda region of Kazakhstan.

To date, the Syr Suluy and Ai-Kerim varieties of rice passed state testing in the region. Following the results of these tests, work has begun on the development...

In the next 3-4 years, new varieties of rice will account for 60-70 percent of rice fields in the Kyzylorda region of Kazakhstan.

To date, the Syr Suluy and Ai-Kerim varieties of rice passed state testing in the region. Following the results of these tests, work has begun on the development...

16.10.2018

Global cereals’ benchmarks down on supply glut fears despite doubts on Russian, Australian harvests

Chicago corn futures lost ground on October 15 as the market took a breather following two sessions of strong gains that were triggered by a forecast of lower U.S. production.

Wheat eased slightly after climbing 1.8 percent on Friday, October 12, with prices supported by weaker production in Russia and Australia.

The...

Chicago corn futures lost ground on October 15 as the market took a breather following two sessions of strong gains that were triggered by a forecast of lower U.S. production.

Wheat eased slightly after climbing 1.8 percent on Friday, October 12, with prices supported by weaker production in Russia and Australia.

The...

Communications and Transportation

16.10.2018

Number of airline passengers increases by 13%

Revenues of transport enterprises in Kazakhstan in January-August 2018 exceeded 1.8 trillion tenge.

Of these, the income of air transport enterprises accounted for 12.2%, or 224.8 billion tenge at growth by 18.1% over the year.

The number of passengers of air transport in January-August 2018 amounted to 5.5 million people, which is...

Revenues of transport enterprises in Kazakhstan in January-August 2018 exceeded 1.8 trillion tenge.

Of these, the income of air transport enterprises accounted for 12.2%, or 224.8 billion tenge at growth by 18.1% over the year.

The number of passengers of air transport in January-August 2018 amounted to 5.5 million people, which is...

Regional News

16.10.2018

EXCLUSIVE – Writings on the wall: new Kyrgyz economic indicators point in different directions, requiring a “French solution”

Through the first three quarters of this year, Kyrgyzstan’s gross domestic product (GDP) topped 368.35 billion Kyrgyz som, or just below 5 billion euro, fresh figures from the National Statistics Agency show. The country’s yet biggest single moneymaker, the Kumtor gold mine, made up for about 10 per cent of...

Through the first three quarters of this year, Kyrgyzstan’s gross domestic product (GDP) topped 368.35 billion Kyrgyz som, or just below 5 billion euro, fresh figures from the National Statistics Agency show. The country’s yet biggest single moneymaker, the Kumtor gold mine, made up for about 10 per cent of...

16.10.2018

China's central SOEs continue rapid revenue growth

China's central state firms continued to see strong revenue growth in the first three quarters of the year, official data showed Monday.

Aggregate revenues of the country's nearly 100 centrally-administered state-owned enterprises (SOEs) increased 11 percent year-on-year to 21.1 trillion yuan (3.05 trillion U.S. dollars) in the January-September period, the State-owned...

China's central state firms continued to see strong revenue growth in the first three quarters of the year, official data showed Monday.

Aggregate revenues of the country's nearly 100 centrally-administered state-owned enterprises (SOEs) increased 11 percent year-on-year to 21.1 trillion yuan (3.05 trillion U.S. dollars) in the January-September period, the State-owned...

16.10.2018

China's top securities regulator vows to protect investors' interests

China's top securities regulator vows to protect investors' interests especially those of the small and medium-sized investors, Securities Times reported on Monday.

China will make efforts to establish an open, fair, just and transparent capital market ecosystem, boosting investors' confidence in capital market's reform and opening-up and regulatory measures.

Liu Shiyu, chairman...

China's top securities regulator vows to protect investors' interests especially those of the small and medium-sized investors, Securities Times reported on Monday.

China will make efforts to establish an open, fair, just and transparent capital market ecosystem, boosting investors' confidence in capital market's reform and opening-up and regulatory measures.

Liu Shiyu, chairman...

16.10.2018

Global investors plan to pour $40bn into the Russian economy

Despite Western sanctions, foreign investors plan to pour $40 bln into Russia’s economy over the next five to seven years, Head of the Russian Direct Investment Fund (RDIF), a sovereign wealth fund, Kirill Dmitriev told Izvestia. More than 20 companies and funds from various countries will invest in Russia. Key...

Despite Western sanctions, foreign investors plan to pour $40 bln into Russia’s economy over the next five to seven years, Head of the Russian Direct Investment Fund (RDIF), a sovereign wealth fund, Kirill Dmitriev told Izvestia. More than 20 companies and funds from various countries will invest in Russia. Key...

16.10.2018

Russia & UK may switch to settlements in national currencies

Russian and British companies could switch to settlements in rubles and pounds, abandoning US currency transactions, in case of political and economic necessity, said Boris Abramov, Russian trade representative in the UK.

He told RIA Novosti that Russian firms doing business with Britain could switch to settlements in pound sterling at...

Russian and British companies could switch to settlements in rubles and pounds, abandoning US currency transactions, in case of political and economic necessity, said Boris Abramov, Russian trade representative in the UK.

He told RIA Novosti that Russian firms doing business with Britain could switch to settlements in pound sterling at...

16.10.2018

Turkmens look to Europe where energy matters

A delegation of Turkmenistan headed by deputy prime minister, Minister of Foreign Affairs of Turkmenistan Rashid Meredov has been recently on a working visit to Brussels, the Turkmen Foreign Ministry said in a message.

During the trip, a meeting was held with European Commission Vice-President for Energy Union Maros Sefcovic, where...

A delegation of Turkmenistan headed by deputy prime minister, Minister of Foreign Affairs of Turkmenistan Rashid Meredov has been recently on a working visit to Brussels, the Turkmen Foreign Ministry said in a message.

During the trip, a meeting was held with European Commission Vice-President for Energy Union Maros Sefcovic, where...

16.10.2018

Saipem appointed contractor at Azeri oil field

Italy’s Saipem company has been awarded a contract for the development of Azerbaijan’s Absheron gas field, said a message from the company.

Total has awarded a SURF (subsea, umbilical, riser and flowline) contract to the consortium between Saipem’s subsidiary, Saipem Contracting Netherlands BV, Boshelf LLC and STAR GULF FZCO, for the...

Italy’s Saipem company has been awarded a contract for the development of Azerbaijan’s Absheron gas field, said a message from the company.

Total has awarded a SURF (subsea, umbilical, riser and flowline) contract to the consortium between Saipem’s subsidiary, Saipem Contracting Netherlands BV, Boshelf LLC and STAR GULF FZCO, for the...

Prices and Statistics

16.10.2018

Exchange Rates

Date: October 16, 2018; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 369.98
1 EURO EUR / KZT 428.7
1 RUSSIAN ROUBLE RUB / KZT 5.64
1 CHINESE YUAN CNY / KZT 53.48
1 KYRGYZIAN SOM KGS / KZT 5.35
1 GREAT BRITAIN POUND GBP / KZT 486.49
1 CANADIAN DOLLAR CAD / KZT 284.36
1 AUSTRALIAN DOLLAR AUD / KZT 264.13

Date: October 16, 2018; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

369.98

1 EURO

EUR / KZT

428.7

1 RUSSIAN ROUBLE

RUB / KZT

5.64

1 CHINESE YUAN

CNY / KZT

53.48

1 KYRGYZIAN SOM

KGS / KZT

5.35

1 GREAT BRITAIN POUND

GBP / KZT

486.49

1 CANADIAN DOLLAR

CAD / KZT

284.36

1 AUSTRALIAN DOLLAR

AUD / KZT

264.13

16.10.2018

Commodities

Date: October 16, 2018; Source: Bloomberg.com Energy
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT) 2 DAY
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 71.86 +0.08 +0.11% Nov 2018 12:53 AM
CO1:COMBrent Crude (ICE) USD/bbl. 81.08 +0.30 +0.37% Dec 2018 12:53 AM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 195.11 +0.68 +0.35% Nov 2018 12:49 AM
NG1:COMNatural Gas (Nymex) USD/MMBtu 3.29 +0.05 +1.54% Nov 2018 12:52 AM
HO1:COMHeating Oil (Nymex) USd/gal. 233.23 +0.66 +0.28% Nov 2018 12:30 AM
Precious and Industrial Metals
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT) 2 DAY
GC1:COMGold (Comex) USD/t oz. 1,229.40 -0.90 -0.07% Dec 2018 12:53 AM
XAUUSD:CURGold Spot USD/t oz. 1,225.83 -1.23 -0.10% N/A 1:04 AM
SI1:COMSilver (Comex) USD/t oz. 14.70 -0.03 -0.18% Dec 2018 12:51 AM
HG1:COMCopper (Comex) USd/lb. 277.65 -1.20 -0.43% Dec 2018 12:53 AM
XPTUSD:CURPlatinum Spot USD/t oz. 841.62 -0.85 -0.10% N/A 1:03 AM
Agriculture
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT) 2 DAY
C 1:COMCorn (CBOT) USd/bu. 376.25 -2.00 -0.53% Dec 2018 12:51 AM
W 1:COMWheat (CBOT) USd/bu. 525.00 0.00 0.00% Dec 2018 12:52 AM
CC1:COMCocoa (ICE) USD/MT 2,141.00 -19.00 -0.88% Dec 2018 10/15/2018
CT1:COMCotton #2 (ICE) USd/lb. 78.74 +0.02 +0.03% Dec 2018 12:18 AM
LC1:COMLive Cattle (CME) USd/lb. 117.98 +1.80 +1.55% Dec 2018 10/15/2018

Date: October 16, 2018; Source: Bloomberg.com

Energy

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT) 2 DAY
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 71.86 +0.08 +0.11% Nov 2018 12:53 AM
CO1:COMBrent Crude (ICE) USD/bbl. 81.08 +0.30 +0.37% Dec 2018 12:53 AM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 195.11 +0.68 +0.35% Nov 2018 12:49 AM
NG1:COMNatural Gas (Nymex) USD/MMBtu 3.29 +0.05 +1.54% Nov 2018 12:52 AM
HO1:COMHeating Oil (Nymex) USd/gal. 233.23 +0.66 +0.28% Nov 2018 12:30 AM

Precious and Industrial Metals

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT) 2 DAY
GC1:COMGold (Comex) USD/t oz. 1,229.40 -0.90 -0.07% Dec 2018 12:53 AM
XAUUSD:CURGold Spot USD/t oz. 1,225.83 -1.23 -0.10% N/A 1:04 AM
SI1:COMSilver (Comex) USD/t oz. 14.70 -0.03 -0.18% Dec 2018 12:51 AM
HG1:COMCopper (Comex) USd/lb. 277.65 -1.20 -0.43% Dec 2018 12:53 AM
XPTUSD:CURPlatinum Spot USD/t oz. 841.62 -0.85 -0.10% N/A 1:03 AM

Agriculture

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT) 2 DAY
C 1:COMCorn (CBOT) USd/bu. 376.25 -2.00 -0.53% Dec 2018 12:51 AM
W 1:COMWheat (CBOT) USd/bu. 525.00 0.00 0.00% Dec 2018 12:52 AM
CC1:COMCocoa (ICE) USD/MT 2,141.00 -19.00 -0.88% Dec 2018 10/15/2018
CT1:COMCotton #2 (ICE) USd/lb. 78.74 +0.02 +0.03% Dec 2018 12:18 AM
LC1:COMLive Cattle (CME) USd/lb. 117.98 +1.80 +1.55% Dec 2018 10/15/2018