Kazakhstan Sweep 101102
· Astana will host the 7th World Islamic Economic Forum on 7-9 June 2011 according to Kazakhstan’s Ministry of Industry and New Technologies in a November 2nd press release, Interfax Kazakhstan reported.
· Kazakhstan will extend the ban on export of petroleum products until the end of the year, Minister of Oil and Gas Sauat Mynbayev told reporters in Astana on November 2nd, Interfax Kazakhstan reported.
· This week Kazakh National Company KazMunayGas is going to float 11-year bonds worth $1.5 billion, a source in the banking circles told Interfax Agency of Financial Information (AFI), Interfax Kazakhstan reported on November 2nd.
· Kazakhstan's sovereign fund Samruk-Kazyna has no plans to sell oil firm KazMunaiGas (KMG) through an initial public offering (IPO) in the near future, Samruk-Kazyna CEO Kairat Kelimbetov told reporters on November 2nd, Reuters Africa reported.
· Kazakhstan’s military will be buying six retrofitted U.S. Huey helicopters for its Caspian Sea defense needs, giving it eight Hueys altogether for that effort, Eurasianet reported on November 2nd, citing Kazakhstan government run Central Asia Newswire.
· Kazakh authorities intend to make it obligatory for foreign companies working in the republic to deposit at least 35 percent of their money in Kazakh banks, the country's Deputy Prime Minister Berik Kamaliyev said in a November 2nd government meeting.
· The quantity of imports from Russia and Belarus has grown by 14 % from July 1 until October 20, 2010, the chairman of Tax Committee of the Ministry of Finance of Kazakhstan Daulet Ergozhin said in a November 2nd government meeting, Kazakhstan Today reported.
1) Astana to host World Islamic Economic Forum in June 2011
http://www.interfax.kz/?lang=eng&int_id=10&news_id=3861
Astana. November 2. Interfax-Kazakhstan – Astana will host the 7th World Islamic Economic Forum on 7-9 June 2011.
“Astana has become the host of the 7th World Islamic Economic Forum in 2011. The capital of Kazakhstan will welcome business representatives of the world Muslim community on 7-9 June,” Kazakhstan’s Ministry of Industry and New Technologies said in a press-release on Tuesday.
2) Kazakhstan to extend ban on export of petroleum products until the end of the year
http://www.interfax.kz/?lang=eng&int_id=10&news_id=3862
Astana. November 2. Interfax-Kazakhstan - Kazakhstan will extend the ban on export of petroleum products until the end of the year, said Minister of Oil and Gas Sauat Mynbayev.
"The ban will certainly be in effect until the end of the year," he told reports in Astana on Tuesday.
Last week a source in the Ministry of Oil and Gas told Interfax-Kazakhstan the Kazakh government might extend the ban on exports of petroleum products: on gasoline until January 1, 2011 and on kerosene and gas oils until December 1 this year.
As reported, starting May 29 this year the Kazakh government banned ban till July 1, 2010 the exports from the Republic of Kazakhstan of motor gasoline (code ВЭД ТС 2710 11 310 0-2710 11 700 0), kerosene (code ТН ВЭД ТС 2710 19 210 0-2710 19 250 0) and gas oil (code ТН ВЭД ТС 2710 19 410 0-2710 19 490 0) except for heating oil.
In July this year the ban was extended till November 1, 2010.
3) KazMunayGas to float 11-year bonds this week
http://www.interfax.kz/?lang=eng&int_id=10&news_id=3863
Moscow. November 2. Interfax-AFI – This week Kazakh National Company KazMunayGas is going to float 11-year bonds worth $1.5 billion, a source in the banking circles told Interfax Agency of Financial Information (AFI).
As reported, the road show for potential investors will be held in Europe, Kazakhstan, and the United States.
The presentation of the new bonds for potential Kazakh investors will take place in Almaty November 2 at 3:00 p.m.
JSC Halyk Finance and JSC Visor Capital are lead arrangers of the deal in Kazakhstan.
KazMunayGas appointed Credit Suisse, The Royal Bank of Scotland and UBS Investment as the organizers of its Eurobond issue in dollars.
The placement will be held in accordance with Reg S/144A as part of the company's midterm borrowing program valued at $7.5 billion.
Moody's Investors Service assigned a provisional (P)Baa3 rating to the bond issue, while Fitch Ratings assigned this upcoming notes issue an expected senior unsecured 'BBB-' rating.
The company is going to raise the funds in order to finance its current debts and refinance the capital investments in the Kashagan project in 2011.
JSC National Company KazMunayGas JSC is a national operator for exploration, production, processing and transportation of hydrocarbons. The company represents the state interests in the oil and gas sector of Kazakhstan. KazMunayGas is wholly owned by Samruk-Kazyna National Welfare Fund.
4) RPT-Kazakhstan not planning near-term IPO of oil firm KMG
http://af.reuters.com/article/energyOilNews/idAFLDE6A11MA20101102
ASTANA Nov 2 (Reuters) - Kazakhstan's sovereign fund Samruk-Kazyna said on Tuesday it has no plans to sell oil firm KazMunaiGas [KMG.UL] (KMG) through an initial public offering (IPO) in the near future.
CEO Samruk-Kazyna Kairat Kelimbetov told Reuters in an interview in London last month that the wealth fund could sell 10-20 percent in the oil firm through an IPO next year.
But on Tuesday he told reporters: "Samruk Kazyna would like to make clear that, without prejudice to future decisions that may be taken by its board and management team, it has no plans to IPO...KazMunaiGas in the near future."
5) Kazakhstan to get more helicopters for Caspian Navy
http://www.eurasianet.org/node/62284
Kazakhstan is planning to acquire an additional six "Huey" helicopters from the U.S. to augment the two it already has, the Kazakhstan government-run Central Asia Newswire is reporting:
Kazakhstan’s military will be buying six retrofitted U.S. Huey helicopters for its Caspian Sea defense needs, giving it eight Hueys altogether for that effort, Central Asia Newswire (CAN) has learned.
The Hueys are part of Kazakhstan’s effort to build a naval and air presence in the Caspian, where the country is investing heavily in oil and gas development....
When it contracted for the work on the two Hueys in 2007, Kazakhstan took out an option with US Helicopter to retrofit six more Hueys. It apparently decided to exercise that option.
The article doesn't include any information on how Kazakhstan will pay for the helicopters; the first two were bought with U.S. military aid. There is also no word on what the Hueys (more precisely, UH-1H Iroquois) will be used for, but they are small and usually pretty lightly armed and are usually used for medical evacuation or light transport.
Kazakhstan also recently announced it will launch its first naval vessel in the Caspian in 2012 and Russia is set this month to launch the "Dagestan" frigate, which will apparently be the second-largest naval vessel in Russia's Caspian Fleet. The Caspian naval buildup is proceeding apace…
6) Kazakhstan moves to make foreign companies increase deposits in Kazakh banks
http://en.rian.ru/business/20101102/161177002.html
Kazakh authorities intend to make it obligatory for foreign companies working in the republic to deposit at least 35 percent of their money in Kazakh banks, the country's deputy prime minister said on Tuesday.
The move is yet another step in a broader government strategy aimed at supporting domestic businesses.
The government also wants to oblige foreign companies to float up to 20 percent of share emissions on the Kazakh stock market and introduce restrictions for insurance companies on reinsuring risks abroad, Berik Kamaliyev told a government meeting.
7) Number of importers from Russia and Belarus grown by 14 %
http://www.kt.kz/?lang=eng&uin=1133435041&chapter=1153527108
Astana. November 2. Kazakhstan Today - The quantity of importers from Russia and Belarus has grown by 14 % from July 1 until October 20, 2010. The chairman of Tax Committee of the Ministry of Finance of Kazakhstan, Daulet Ergozhin, informed today at the round table 'Customs Union: From the Theory to Practice, the agency reports.
"The quantity of importers from Russia amounted to 7682 and Belarus - 667 within July 1 until October 20, 2010. The number of importers has grown by 14 %," D. Ergozhin said.
The quantity of importers from Russia amounted to 6587 and from Belarus - 690 within July 1 - September 30, 2009.
He also informed that the Customs Union member countries are considering the questions of excise import tax payment on diesel fuel, gasoline, and alcoholic production.