Tag Archives: Kazakhstan

Kazakh businessman to sell MEGA

JUNE 1 2016 (The Conway Bulletin) — Nurlan Smagulov, one of Kazakhstan’s wealthiest businessmen, said he has found a buyer for his shopping malls in Astana and Aktobe, both under the MEGA brand. Last year, Mr Smagulov sold his MEGA shopping mall in Shymkent, in the south of the country. Mr Smagulov said proceeds from the sales will fund the growing costs for the completion of the MEGA Silk Way shopping centre in Astana.

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(News report from Issue No. 283, published on June 3 2016)

German investors present resort plan for Kazakhstan

MAY 29 2016 (The Conway Bulletin) — German investors presented a €30b ($34b) plan for the development of Kenderli, a new resort town on Kazakhstan’s Caspian Sea shore. The plan to build a new city near Aktau, to host around 200,000 inhabitants and several thousand tourists, has been touted for years. Now a group of German companies said it is ready to fund an initial €600m ($675m) for the project. Kazakhstan is trying to boost its tourist infrastructure and has earmarked the Caspian for development.

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(News report from Issue No. 283, published on June 3 2016)

Kazakhstan’s oil pipeline company grows by 2%

MAY 30 2016 (The Conway Bulletin) — Revenues for KazTransOil, Kazakhstan’s state-owned oil pipeline company, grew by 2% to 54.7b tenge ($164m) in Q1 2016, compared to the same period last year. As capital expenditures almost halved to 6.6b tenge ($20m), analysts remain confident that the company will benefit from the depreciation of the tenge in Q4 2015 and also from rising oil prices.

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(News report from Issue No. 283, published on June 3 2016)

EEU holds meeting in Kazakh capital

MAY 30 2016 (The Conway Bulletin) — At a meeting in Astana, leaders of the Russia-backed Eurasian Economic Union delayed the establishment of a single energy market to 2025. Previously, the EEU’s plan was to roll out a barrier-free single market for oil and gas by 2024. The parties did not comment on the reasons for the delay.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 283, published on June 3 2016)

 

Land commission dampens protests in Kazakhstan

ALMATY, JUNE 1 2016 (The Conway Bulletin) — Activists in Kazakhstan said President Nursultan Nazarbayev’s move to defer changes to the land code until next year and set up a commission to improve dialogue with ordinary people was a positive step, although frustrations over the economy still lingered.

Proposed changes to the land code, that would have given foreigners more rights to own and lease land, sparked a protest in Atyrau in April. Those protests then spread across Kazakhstan, taking on a more general anti-government flavour although the land reform issue was still a key concern.

In Kazakhstan, analysts have said, it is difficult for ordinary people to protest directly against the government. Police detained hundreds of protesters on May 21 ahead of planned anti-government demonstrations.

Instead it is easier to protest against a single issue, such as land reforms, and use this to channel grievances over a stalling economy, job losses and a currency devaluation.

At press conference in Almaty, Mukhtar Taizhan, a high profile opposition activist who has been appointed to the land reform commission, said that Kazakhstan’s society was still riven through with tension over the economy.

“The work of commission does not eliminate increasing tensions in our economy,” he said. “If we want stability, we need to change our economic politics urgently.”

Other activists interviewed by the Conway Bulletin’s Kazakhstan correspondent agreed. Saken, an activist said: “There will be no mass protests in the near future because the land commission has softened the current situation.”

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(News report from Issue No. 283, published on June 3 2016)

Kazakh President sacks senior officials

JUNE 2 2016 (The Conway Bulletin) — Barely two weeks after the Kazakh authorities quashed unsanctioned protests with dozens of arrests around the country, President Nursultan Nazarbayev sacked Yerlik Kenenbayev, the Presidential Administration’s police supervisor/adviser, and Nurmakhanbet Isaev, the deputy prosecutor. Mr Nazarbayev did not explain the sackings, but analysts have said it could be linked to the May 21 protests.

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(News report from Issue No. 283, published on June 3 2016)

Litigation case will not affect sale, says Kazakh energy company

MAY 30 2016 (The Conway Bulletin) — Kazmunaigas, Kazakhstan’s state- owned energy company, said that a litigation case in Romania involving one of its subsidiaries will not affect the sale of the unit to China’s CEFC. Last December, CEFC agreed to buy a 51% stake in KMG International, formerly Rompetrol. Romanian prosecutors seized KMG International’s refinery earlier in May during an investigation into its privatisation and subsequent sale to to Kazmunaigas.

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(News report from Issue No. 283, published on June 3 2016)

Exchange rate stabilises in Kazakhstan

MAY 30 2016 (The Conway Bulletin) — Kazakhstan’s Central Bank said tenge-denominated deposits had grown steadily in Q1 2016, due to the stabilisation of the exchange rate with the US-dollar after five months of high volatility. Commercial banks increased interest rates on deposits in an effort to attract customers. The C.Bank’s decision to lower interest rates earlier in May could now depress deposits and increase spending.

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(News report from Issue No. 283, published on June 3 2016)

Kazakhstan lifts ban on potato import from Kyrgyzstan

JUNE 1 2016 (The Conway Bulletin) — Kazakh President Nursultan Nazarbayev lifted a ban on the import of potatoes from Kyrgyzstan after meeting with his Kyrgyz counterpart Almazbek Atambayev in Astana. Kazakh authorities had banned Kyrgyz potatoes in early May due to an outbreak of Globod- era rostochiensis, a pest. The Kazakh regulatory agency said it will continue to monitor the presence of the pest in the following months.

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(News report from Issue No. 283, published on June 3 2016)

Kyrgyzstan to pay high price for electricity

JUNE 1 2016 (The Conway Bulletin) — The Kyrgyz government is under pressure to justify paying relatively high prices to Kazakhstan for electricity. Dastan Dzhumabekov, an MP in the ruling government coalition, asked Alibek Kaliyev, head of the National Energy Holding, to clarify why Kyrgyzstan accepted paying 9 tenge ($0.026) per kWh to Kazakhstan, while Kazakhstan charges Russia only 5 tenge ($0.014) per kWh. Mr Kaliyev was unable to give a clear answer which MPs said was illogical given Kyrgyzstan’s membership of the Eurasian Economic Union.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 283, published on June 3 2016)