30.01.2012 Kazakhstan Ministry of Finance may consider issuing Eurobonds and Sukuk
Kazakhstan's Finance Ministry may consider issuing Eurobonds and Islamic bonds, said Finance Ministry Bolat Zhamishev.
"Issuing Eurobond and sukuk depends on the current market conditions and plans of the corporate sector to enter capital markets. Constant monitoring of the world financial market situation is underway," he said at the Ministry's board on Monday in Astana.
"In fact, we don't need funds to cover the budget deficit, but if corporations start raising money on capital market and benchmark is relevant, we may issue Eurobonds and Islamic bonds," said Zhamishev.
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.
27.01.2012 Kazakhstan to focus on economic development of all regions - Nazarbayev
Kazakh President Nursultan Nazarbayev has said that the republic should focus on economic development of all its regions.
"Kazakhstan will be strong only if all its regions are strong. We need to insure local economic growth, which will benefit the whole country. We need to build new plants, create working places and develop social infrastructures in the regions. That is what the rest of the world normally does," Nursultan Nazarbayev said in his annual address to the people of Kazakhstan.
27.01.2012 Nazarbayev orders to finance infrastructure development for innovation clusters
Kazakh President Nursultan Nazarbayev has ordered the Cabinet to allocate money to finance infrastructure development for the innovation clusters.
"The government has to provide necessary funds for infrastructure development of the innovation clusters", Nazarbayev said in his annual address to the people of Kazakhstan.
The president stressed the importance of social projects that are being implemented within the national program for industrial and innovation development of Kazakhstan.
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.
23.01.2012 Massimov: Kazakhstan not to put off "People's IPO" in the face of new crisis
Kazakhstan is not planning to put off the "People's IPO," if exposed to a new wave of crisis, Prime Minister of the Republic Karim Masimov.
"We are not going to put the People's IPO on hold. It is quite another matter to choose the right timing. The "People's IPO" is offered to benefit the citizens of Kazakhstan, not to maximize profits of the companies. Therefore, when the market hits the bottom, it will be a good opportunity for the citizens to buy and profit later during IPOs in London or Hong Kong," said Massimov in an interview with Kommersant on Monday.
10.01.2012 Kazakhstani GDP rose 7.5% in 2011 - Premier
The GDP of Kazakhstan grew by 7.5% in 2011, the country's Prime Minister Karim Massimov said.
"The GDP growth came to 7.5% in 2011," Massimov wrote in his Twitter page on Monday.
"The per capita GDP amounted to $11,300 last year," he added.
In late December 2011 the Ministry of Economic Development of Kazakhstan predicted the country's GDP would grow by 7.3% to $180 billion by the end of 2011 instead of the earlier forecast of a 7% growth.
As reported, in 2010 the Kazakhstani GDP increased by 7% compared to 2009 to reach 21.514 trillion tenge ($148.29 tenge /$1).
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.
