Tag Archives: Kazakhstan

Pro-government protesters target US consulate in Kazakh city

ALMATY, MAY 31 2016 (The Conway Bulletin) — Roughly two dozen people protested in front of the US consulate in Almaty against what they said was the influence of foreign governments in demonstrations across Kazakhstan since April.

Most of the people at the protest were the same protagonists who had staged demonstrations against banks earlier in the year. The impression was that a group with close links to the authorities had organised the protest to show support for the government. And in contrast to anti- government protests on May 21, police didn’t intervene.

Zhanna Sadykova, a leader of the so-called Give People Housing movement, said one of the demonstrators’ targets were protests against the Kazakh government in the US last week.

“Those who protested in US cities are not citizens of our country and therefore have no right to interfere with our internal policies,” she said.

The protests that have swept Kazakhstan since April have been unprecedented. What started as an isolated protest against land reforms has morphed into a general gripe against the government and the country’s stagnating economy.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

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

 

Kazakhstan cycling team wins the race

MAY 29 2016 (The Conway Bulletin) — Vincenzo Nibali, captain of the Kazakhstan-sponsored Astana Cycling Team, won the Giro d’Italia, one of the classic cycling races. Mr Nibali won after the race leader Giacomo Nizzolo was disqualified for irregular conduct. Kazakhstan’s sovereign wealth fund Samruk-Kazyna sponsors and funds the Astana Team. Wearing the country’s light blue colours, Mr Nibali has also won the Tour de France in 2014 and another Giro in 2013.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

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

Editorial: Pro-government demonstrations in Kazakhstan

JUNE 3 2016 (The Conway Bulletin) — A pro-government protest demonstrating against anti-government protests is not a new practice in Central Asia.

This was the scenario in Kazakhstan this week and even if it might not be a new issue but it is still an insightful one. The authorities are getting increasingly worried that their opponents are gaining in strength.

The main targets of the pro-government protest this week were the US consulate in Almaty and expatriate Kazakhs in San Francisco and New York.

The pro-government protesters, well organised and clearly linked to the authorities, accused the US of stirring anti-government feelings, a standard complaint by former Soviet governments facing popular discontent. They also denounced the protesters in the US as traitors who didn’t understand how loved President Nursultan Nazarbayev was in Kazakhstan.

But rather than criticise the protesters in the US and the US consulate in Almaty, perhaps it would be more effective for the authorities in Kazakhstan to listen to their critics.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

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

 

Subsistence level rises in Kazakhstan

JUNE 1 2016 (The Conway Bulletin) — The minimum subsistence level in Kazakhstan increased by 0.5% in May, indicating that inflation and slower economic growth have hit people’s livelihoods. The Statistics Committee said Kazakhs need a minimum of 20,630 tenge ($61) to survive. This is 8.5% higher than in May last year but is still slower than annualised inflation of 16.7%.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

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

Kazakhstan’s stock lists Magnum’s bond

MAY 27 2016 (The Conway Bulletin) — KASE, Kazakhstan’s stock exchange, said it listed 10-year bonds issued by Magnum Cash & Carry, a chain of discount stores in Kazakhstan. The total issue amounted to 33b tenge (around $100m), one-third of the amount that Magnum plans to issue in the short term to finance its expansion in the country. In May 2014, Kenes Rakishev, son-in-law of Kazakhstan’s defence minister and closely-linked to the elite, bought a minority share in the company.

ENDS

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

 

KazKom buys back bonds

JUNE 2 2016 (The Conway Bulletin) — Kazkommertsbank, Kazakhstan’s largest lender, said it had bought back part of its outstanding bonds, spending around $35m in total. In May, CEO Kenes Rakishev had said the bank was ready to repurchase as much as $500m in outstanding bonds. After the latest transaction, KazKom has to pay back around $522m from two bond issues due later this year and €392m ($437m) due in February 2017.

ENDS

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

Kazakh electricity company eyes up CASA-1000

MAY 20 2016 (The Conway Bulletin) — KEGOC, a state-owned electricity distributor in Kazakhstan, said it would be open to exporting electricity to Afghanistan and Pakistan through the CASA-1000 line. The CASA-1000 project is scheduled for completion by 2020.

ENDS

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(News report from Issue No. 282, published on May 27 2016)

Kazakh bank’s profits fell by 33%

MAY 23 2016 (The Conway Bulletin) — Halyk Bank, Kazakhstan’s second- largest bank, said profits fell by 33% in Q1 2016, compared to 2015 due to a slowdown in lending. The bank said high interest rates at the beginning of the year had scared away consumers. Importantly, Halyk also said the proportion of bad loans in its portfolio increased to 11.7% from 9.1% in Q4 2015.

ENDS

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(News report from Issue No. 282, published on May 27 2016)

Kazakh minister comment triggers diplomatic row

BISHKEK, MAY 23 2016 (The Conway Bulletin) — A comment about Kyrgyz women cleaning lavatories in Moscow by Kazakhstan’s minister of culture, Arystanbek Mukhamediuly, hit a raw nerve with Kyrgyzstan and triggered a diplomatic row.

In comments to media, Mr Mukhamediuly said Kyrgyz women cleaning lavatories in Moscow reflected poorly on Kyrgyzstan.

“Every time I fly to Moscow and other cities I see that young Kyrgyz ladies, our neighbours, are cleaning toilets,” he said. “It hurts me, as I see these young creatures who had to leave Kyrgyzstan because of unemployment and the absence of opportunities.”

Thousands of people leave Kyrgyzstan each year to find work in Russia and send back remittances. It is a system that spans Central Asia.

And both the Kyrgyz government, which sent an official note of protest to the Kazakh embassy, and ordinary Kyrgyz took umbrage at Mr Mukhamediuly’s comments.

In Bishkek Ulukbek, 20, said the comments had been disrespectful. “As a high-rank official, he should not have talked about our migrants,” he said.

Some others, though, felt that the Kazakh minister had made a good point. “I do not think that he was wrong about us, thousands of my fellow citizens have to work in Russia to earn some money,” said Bolot, 42. “We should blame our government and our president as it is their fault.”

ENDS

Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 282, published on May 27 2016)

Kazakhstan’s wealth fund considers selling off stake

MAY 23 2016 (The Conway Bulletin) — Kazakhstan’s sovereign wealth fund Samruk-Kazyna said it is considering selling off its 10.72% stake in Kazkommertsbank. Kenes Rakishev, a businessman with links to the elite, has increased his stake to 71.2%. He has offered to buy out minority stakeholders.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 282, published on May 27 2016)