Kazakhstan News
-
KAZAKHSTAN, 2015/09/15
Standard & Poor's Ratings Services affirmed its long-term foreign and local currency sovereign credit ratings on the Republic of Kazakhstan at 'BBB', the rating agency reported on September 14
At the same time the rating agency affirmed the short-term foreign and local currency ratings at 'A-2' and the Kazakhstan national scale rating at 'kzAA+'.
The outlook on the long-term ratings remains negative.
“The ratings on Kazakhstan continue to be supported by the general government's net investment position, which follows recent years of fiscal and external surpluses.
-
KAZAKHSTAN, 2015/08/27
The Asian Development Bank has approved a loan for Kazakhstan worth $1 billion to assist the Central Asian country to continue implementing government programs aimed at strengthening the national economy in the face of recent challenges.
“This loan from ADB’s Countercyclical Support Facility will give the country the fiscal leeway it needs to mitigate the unanticipated and significant negative impacts of the steep decline in world oil prices and the economic slowdown of the neighboring nations,” Lotte Schou-Zibell, Principal Economist in the Central and West Asia Department, said. “It will help the government modernize infrastructure and maintain spending programs for job creation, social services, support to low-gain households, and private sector development, particularly for small businesses.”
The programs will be supported by transfers from the National Fund of Kazakhstan, ADB’s loan, and proposed funding from other development partners.
-
KAZAKHSTAN, 2015/08/19
Kazakhstan has seen an increase in oil and natural gas production in January-July 2015, the country's Statistics Committee under the National Economy Ministry reported.
The production of oil, inclunding gas condensate, increased by 0.7 % to reach 47 million tons in the reported period.
The committee as well said that the production of gasoline decreased by 2.8 % to 1.6 million tons, and diesel fuel by 2.7 % to 2.7 million tons in the initial seven months of 2015.
In the reported period, the country's electricity production reduced by 2.3 % to 52.8 billion kilowatt/hours.
-
KAZAKHSTAN, 2015/08/06
Kazakh President Nursultan Nazarbayev has urged the government to save budget funds at a conference with Prime Minister Karim Massimov and Chief of the Presidential Government Nurlan Nigmatullin, the press service of the president reported on August 3.
"Due to the deteriorating market conditions, inclunding the lowering prices for our major export products, it is necessary to introduce general saving of funds. These measures should be provided in the next year's budget," the president said.
President Nazarbayev further added that despite all the difficulties, the government should prevent the slowdown of economic increase and the worsening of the social situation of Kazakh citizens.
-
CHINA, 2015/08/05
Kazakhstan Temir Zholy national railways company plans to transit 42,000 containers on the China-Europe-China route, and this figure is almost 40 times additional than in 2011.
This remark was made by company President Askar Mamin at a conference dedicated to the Transport Workers’ Day on August 3.
Mamin said that the additional volume of container transportation from China to Europe and vise-versa in 2014 allowed for an increase of revenues from transit traffic by 13.7 % compared to 2013, Kazakhstan’s Samruk-Kazyna National Welfare Fund reported.
-
KAZAKHSTAN, 2015/07/29
Kazakhstan is considering to establish oil consortium to ensure the implementation of the Eurasia international oil project in the Caspian basin, according to remarks made by Kazakhstan's Deputy Energy Minister Uzakbai Karabalin at a July 27 briefing in Central Communications Service under the president.
"Kazakhstan is considering the establishment of the consortium on public-private partnership with the further implementation of works on the Eurasia project in 2016-2021 in order to ensure the implementation of tasks, in particular on such a large project," he said.
Karabalin as well noted that Kazakhstan is developing a legal code on ubsoil and its adoption is scheduled for 2015-2016. The government plans to make amendments to the Tax Code in order to reduce the tax burden in conducting geological research, exploration of subsoils, inclunding the implementation of the arrangement on the geological study of the Caspian Basin.
-
KAZAKHSTAN, 2015/07/27
Kazakhstan is planning to open direct flights from Astana to six major business centers in the world by the end of 2019, according to a statement by Kazakh Investment and Development Minister Investment Issekeshev at a press conference on July 23.
Issekeshev said that this year, passengers will be given the opportunity to fly due from Kazakhstan's capital Astana to Dubai.
"Air service to Hong Kong will be opened next year and to Tokyo in 2017. Flights to Singapore will be conducted in 2018, while to New York and Shanghai by the end of 2019," the minister noted.
-
KAZAKHSTAN, 2015/07/22
Kazakhstan plans to create aviation hubs in Astana and Almaty to increase the country’s transportation and logistics turnover by 2020.
Speaking at a briefing in Astana, the Minister for Investment and Development Assets Issekeshev recalled his proposals for the extension of the country's air transportation network.
Issekeshev said that the Civil Aviation Committee of the Ministry for Investment and Development seeks reformation on the country's aviation on the model of the UK Civil Aviation Authority.
-
KAZAKHSTAN, 2015/07/11
The German business community intends to cooperate with Kazakhstan in five strategic fields, in particular, textile, car industry, chemical industry, glass production, food industry and agriculture.
This intention was expressed at a conference of the Kazakh-German Business Council held in Berlin, Kazakh Baiterek Holding reported on July 9.
"Over the cooperation years German business circles have invested about $3.1 billion in Kazakhstan. This figure comprises 2.5 % of the total all of foreign direct investment ,\" Kuandyk Bishimbayev, the chairman of Managing Board of Baiterek said at a conference.
He as well informed the German side about five new institutional reforms announced by Kazakh President Nursultan Nazarbayev.
-
CHINA, 2015/06/07
Beijing and Astana's agreement to establish a free trade zone in all major cities along the railway network, running from China to Europe via Kazakhstan is an significant succcess towards the realization of the grand multibillion-dollar Silk Road project.
The relevant agreement was reached in late May at the international customs forum held in Xian, China, the Kazakh Telegraph Agency reported, citing local Chinese media.
"It coincides with our [Kazakhstan's] plans to increase transit through Kazakhstan to other nations. During the year, Western Europe-Western China international transit corridor will be completed as well. We expect that cargos of Chinese goods will be exported to Europe via this corridor. Of course, a lot will depend on the cooperation between the customs services of the two nations," Chairman of the National Revenue Committee of the Ministry of Finance of Kazakhstan, Daulet Ergozhin said.
