Tag Archives: Kazakhstan

Kazakh minister looks for healthcare gain

MAY 23 2017 (The Conway Bulletin) — Kazakhstan’s health minister Yelzhan Birtanov said that he intended to boost state spending in the private healthcare sector to try and attract more investors. He also said that, ultimately, he’d like to see Kazakhstan become a hub for health tourism in the region. Healthcare has become a major business in the former Soviet Union as governments turn to the private sector to improve their Soviet-era systems.

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(News report from Issue No. 330, published on May 28 2017)

 

Kazakh CB chief orders IBA debt investigation

MAY 24 2017 (The Conway Bulletin) — Kazakh Central Bank chief Daniyer Akishev said that he had ordered an investigation into why Kazakhstan’s state-run pension fund had bought $250m of debt from the International Bank of Azerbaijan (IBA) in October 2014, just as the price of oil started to collapse. Oil is Azerbaijan’s main export and its collapse triggered an economic downturn. This month IBA said that it was having to restructure its debt.

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(News report from Issue No. 330, published on May 28 2017)

 

Two smaller Kazakh banks set to merge

ALMATY, MAY 23 2017 (The Conway Bulletin) — Two small Kazakh banks, RBK Bank and Qazaq Banki, said that they were preparing to merger, marking more consolidation in Kazakhstan’s finance sector.

Kazakh banks have been encouraged to merge in a drive designed to strengthen the sector which analysts have said has become weak and fragmented.

In a statement, RBK said: “The decision to merge was dictated by a desire from shareholders to use the new business opportunities in a changing economic environment.”

Both RBK and Qazaq Banki are linked closely to members of the Kazakh elite, including Dinmukhamed Idrisov, Kazakhstan’s 20th wealthiest man according to Forbes. He owns stakes of under 10% in both banks.

Earlier this year, Halyk Bank and Kazkommertzbank, Kazakhstan’s two biggest banks, agreed to merge creating a mega bank with around 40% of the market. The new bank will be controlled by Halyk, which is owned by the daughter of Kazakh President Nursultan Nazarbayev and her husband, Timur Kulibayev.

Kazakh banks accrued a high proportion of bad loans over the past few years because of a downturn in economic conditions linked a fall in oil prices and a recession in Russia.

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(News report from Issue No. 330, published on May 28 2017)

 

Kazakhstan’s GDP will rise, says WB

MAY 22 2017 (The Conway Bulletin) — In a new report, the World Bank said that it predicted economic growth in Kazakhstan of between 2% and 3% over the next three years. It said that GDP numbers showed improvements, despite the economic downturn, because of planned investments in the oil and gas sectors. The Kashagan and Tengizchevroil projects have both attracted major investments over the last few years which are coming through into Kazakh GDP growth now.

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(News report from Issue No. 330, published on May 28 2017)

 

Kazakhstan’s deal on to send uranium to Iran

MAY 26 2017 (The Conway Bulletin) — Kazakhstan’s nuclear agency Kazatromprom has no plans to renege on a deal to export 950 tonnes of uranium to Iran despite reports in media that the agreement had been cancelled, the head of the Atomic Energy Organisation of Iran, Ali Akbar Salehi, told media. Kazakhstan is the world’s biggest producer of uranium and has been pushing to increase exports. Media reports had said that the US’ anti-Iran rhetoric had swayed Kazakhstan away from deals with Tehran.

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(News report from Issue No. 330, published on May 28 2017)

 

Kazakhstan develops ties with UEA

MAY 22 2017 (The Conway Bulletin) — Businessman from the UAE and Kazakhstan signed an agreement to set up a forum to develop ties and deals between the countries. The Atameken group that signed the deal on the Kazakh side is a quasi-government business group. Kazakhstan has said that it has aspirations to start exporting Halal meat to nearby Arab countries.

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(News report from Issue No. 330, published on May 28 2017)

 

Iveco buses arrive in Kazakh capital

MAY 22 2017 (The Conway Bulletin) — Italy-based bus maker Iveco shipped 210 buses to Astana, part of a programme to upgrade the city’s fleet ahead of EXPO-2017. Iveco said that the new buses will join 358 Iveco buses already operating in Astana. The buses are manufactured at a factory in France and partly re-assembled at a plant in Kostanay, north Kazakhstan. EXPO- 2017 is giving the Kazakh economy a boost.

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(News report from Issue No. 330, published on May 28 2017)

 

Kazakh human rights defender quits

ALMATY, MAY 22 2017 (The Conway Bulletin) — Civil rights activists and opposition journalists in Kazakhstan blamed the authorities for pressuring human rights campaigner Olesya Khalabuzar into quitting an anti- government party she established a few years ago.

Known for her forthright statements, Ms Khalabuzar had been viewed as something of a superstar in Kazakhstan’s small activist scene. She was head of the Justice party that she set up in 2015.

“She’s been pressurised by the authorities,” said one journalist in Almaty who asked to remain anonymous. “The anti-government space is getting smaller and smaller here. This is just another instance of the state pressuring an activist to give up their work.”

Rights campaigners have said that the authorities have taken an increasingly tough line on dissenters, cracking down on people who challenge the authorities.

On May 17, in a surprise announcement, Ms Khalabuzar wrote on Facebook that she had decided to give up politics.

“Probably, people will think that I am giving up because of a criminal case against me this is not the case – these people do not understand my situation,” she wrote. “I am leaving public activity. I want to become an ‘ordinary citizen’ and devote the remaining time to my family. This is the most sacred thing.”

In her post she also said that she regretted some of her actions which she described as “counterproductive” and “short-sighted”.

This year, police have detained Ms Khalabuzar for involvement in what they described as an illegal protest. They have also searched her office and she has been the subject of a civil complaint.

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(News report from Issue No. 330, published on May 28 2017)

 

UAE to develop chemicals in Kazakhstan

MAY 23 2017 (The Conway Bulletin) — UAE’s Mubadala Development Company and Kazakhstan’s United Chemical Company agreed to develop a chemical complex in the west of Kazakhstan that will produce 800,000 tonnes of polyethylene each year. Kazakh deputy energy minister Magzum Mirzagaliyev told the media that the plant is planned for the western Atyrau region. Kazakhstan and the UAE have been developing bilateral ties. Polyethylene is the plastic, primarily used to produce plastic bags and plastic bottles.

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(News report from Issue No. 330, published on May 28 2017)

 

Construction of Kazakh light railway to begin

MAY 23 2017 (The Conway Bulletin) — After years of delay and prevarications, a consortium of Chinese companies will begin construction of the Astana Light Railway at the end of this month. The $1.8b light railway system, it is planned, will link the airport with various sites in the new sector of Astana including the planned Astana International Finance Centre, the government sector and the new railway station. According to the Astana Times, the network will have 18 stations and a capacity of 150,000 people.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 330, published on May 28 2017)