30.01.2012 Nazarbayev instructs National Bank to ensure best exchange rate to support exporters
Kazakh President Nursultan Nazarbayev has told the National Bank and the government to ensure the best exchange rate to support the Kazakh exporters.
"External factors may cause devaluation of our trading partners' currencies. That is why the National Bank and the Cabinet should control this situation and ensure the best Tenge exchange rate to support the domestic exporters," the president told the Cabinet meeting in Astana on Friday.
The president said that the financial sector should be ready for a crisis.
26.01.2012 WB gives $27 billion to Europe and Central Asia to fend off crisis in 2012-2013
The World Bank Group will provide $27 billion over the next two years to Europe and Central Asia (ECA) to mitigate the effect of the crisis.
"The World Bank Group is making $27 billion in funding available over the next two years for countries of Emerging Europe and Central Asia (ECA) impacted by the Eurozone crisis," the bank said in a press release on Thursday.
23.01.2012 Masimov: new crisis is a stress testing of Kazakhstan's integration with Russia and Belarus
Macroeconomic stabilization in the face a second wave of the impeding global crisis becomes the first priority for the Kazakh Government, however the integration processes within the CEE must not stagnate, says Prime Minister Karim Masimov.
"The crisis must not be the reason for the integration of Russia, Kazakhstan and Belarus to burst at the seams," said Massimov in an interview to Kommersant on Monday.
05.01.2012 Kazakhstan and China cooperate fruitfully in different areas - Hu Jintao
Kazakh President Nursultan Nazarbayev received a letter from Chinese President Hu Jintao congratulating him on the 20th anniversary of diplomatic relations between the two countries.
In his letter Hu Jintao stressed that China attached great importance to developing the relations with Kazakhstan, its good neighbor, close friend and important strategic partner, according to a Wednesday press release issued by the Kazakh president's press office.
13.12.2011 S&P revises ratings of 11 Kazakhstan-based banks
Standard & Poor's Ratings Services has revised its ratings on 11 Kazakhstan-based banks after applying the new bank ratings criteria, which was published on November 9, 2011, the rating agency says in a today's statement.
The changes in the ratings are as follows:
Alliance Bank JSC - Issuer credit rating has been changed to B-/Stable/C from B-/Stable/C; Kazakhstan national scale rating to kzBB- from kzBB-.
Halyk Savings Bank of Kazakhstan - Issuer credit rating has been changed to BB/Stable/B from B+/Stable/B.
12.12.2011 Direct U.S. investment in Kazakhstani economy reaches $16.5 billion - U.S. Ambassador
The U.S. Ambassador to Kazakhstan Kenneth Fairfax is satisfied with the level of trade cooperation between the U.S. and Kazakhstan.
At a Friday reception at the U.S. Embassy to mark the 20th anniversary of the independence of Kazakhstan Fairfax noted that from the day that Kazakhstan gained independence to the present moment American companies had invested over $16.5 billion in the country's economy, which made the U.S. the third biggest direct investor in Kazakhstan.
08.12.2011 Kazakhstan has large potential to attract investment - Ex-World Bank chief
The former head of the World Bank James Wolfensohn believes Kazakhstan has good potential for attracting investment.
"If I were younger and had more money, I would definitely invest in Kazakhstan," he told a Kazakhstani-American investment forum in New York.
Wolfensohn's words were quoted in a statement published at the official Facebook page of the Samruk-Kazyna state fund.
According to Wolfensohn, Kazakhstan has a unique geographic advantage being located between the West and East.
08.12.2011 Kazakhstan raised $136 billion in foreign investments over 20 years of independence
Over 20 years of its independence Kazakhstan's economy has been boosted by $136 billion in foreign direct investment, said Minister for Economic Integration Zhanar Aitzhanova at the Kazakh-US Investment Forum in New York.
"Over 20 years of its independence, Kazakhstan has raised $136 billion in foreign direct investments, with half of them injected in the past three years. It demonstrates the country maintained its investment appeal despite the global crisis, she was quoted as saying in a statement on the Facebook wall of Samruk-Kazyna.
24.11.2011 EDB gets $50 mln loan from Bank of Tokyo-Mitsubishi UFJ for developing financing instruments
Eurasian Development Bank (EDB) has signed a loan agreement with The Bank of Tokyo-Mitsubishi UFJ Ltd. (Japan), according to which the Japanese bank will provide EDB a loan worth $50 million.
EDB said that the funds will be allocated in two tranches. The funds will be earmarked for financing the bank's projects in programs for developing trade financing and micro-financing instruments, as well as support for small and medium-businesses.
24.11.2011 EU firmly established as a leading trade and investment partner of Kazakhstan, Foreign Minister
The European Union is firmly established as a leading trade and investment partner of Kazakhstan, Foreign Minister Yerzhan Kazykhanov said at the international conference "Kazakhstan - Europe: results and new horizons of cooperation" on Thursday in Astana.
"State Program, the Path to Europe "is one of the key initiatives of our successfully implemented in recent years. Through this program, the European Union is firmly established as a leading trade and investment partner of Kazakhstan," said Kazykhanov.
