Dmitry's Feed
Apr 4, 2013

Kazakh firm seeks $400 mln from Kyrgyzstan over gold licence

ALMATY/BISHKEK, April 4 (Reuters) – Kazakh company Visor
Holding said it had filed for arbitration of a $400 million
claim against the government of Kyrgyzstan, alleging illegal
expropriation of a licence to develop Jerooy, the second-largest
Kyrgyz gold deposit.

The claim comes as the new coalition government prepares to
put Jerooy up for sale, and it may dampen the new coalition
government’s hopes for the auction to kick off interest by wary
foreign investors in the country, in which violent revolts have
deposed two presidents since 2005.

Apr 3, 2013

Insight: Young nation Kyrgyzstan fights over gold at top of the world

KUMTOR, Kyrgyzstan (Reuters) – In an impoverished young nation with a habit of overthrowing its rulers, the future now balances on a mountain of gold at the top of the world, where the air is so thin collapsing visitors may be rushed to a pressure chamber for oxygen.

After two revolutions in eight years, nationalists in Kyrgyzstan are threatening to return to the streets to topple another government unless it expropriates the Kumtor goldmine, a treasure they say was sold off too cheaply to foreigners.

Apr 3, 2013

Young nation Kyrgyzstan fights over gold at top of the world

KUMTOR, Kyrgyzstan, April 3 (Reuters) – In an impoverished
young nation with a habit of overthrowing its rulers, the future
now balances on a mountain of gold at the top of the world,
where the air is so thin collapsing visitors may be rushed to a
pressure chamber for oxygen.

After two revolutions in eight years, nationalists in
Kyrgyzstan are threatening to return to the streets to topple
another government unless it expropriates the Kumtor goldmine, a
treasure they say was sold off too cheaply to foreigners.

Jan 30, 2013

Kazakhstan buys ConocoPhillips stake in offshore oil block

ALMATY, Jan 30 (Reuters) – Kazakhstan, seeking a greater
role in large oil projects, has bought a 24.5-percent stake held
by ConocoPhillips in the promising offshore oil block
Nursultan in the Caspian, as the U.S. firm sheds overseas
assets.

Kazakh state oil company KazMunaiGas (KMG) will now
own a 75.5-percent stake in the exploration and development
project, and Abu Dhabi state investment company Mubadala
the remaining 24.5 percent, KMG said in a statement.

Dec 26, 2012

Kazakh rescuers find flight recorder after military plane crash

ALMATY (Reuters) – Rescue teams have recovered a flight recorder from a plane which crashed in Kazakhstan on Tuesday, killing all 27 people on board in the country’s worst military air disaster since independence.

The twin-engine Antonov An-72 transport jet disappeared from radar screens at about 1900 local time (1300 GMT) as it was circling in a raging blizzard, trying to land at the city of Shymkent, the capital of the South Kazakhstan Region.

Dec 12, 2012

Kcell shares trade higher after float raises $525 million

ALMATY (Reuters) – Kcell (KCELq.L: Quote, Profile, Research, Stock Buzz) shares traded above their issue price on their market debut after Kazakhstan’s largest mobile phone operator raised $525 million for Nordic parent TeliaSonera (TLSN.ST: Quote, Profile, Research, Stock Buzz).

The flotation of a 25 percent stake in Kcell in London and Kazakhstan was priced at the bottom end of its offered range at$10.50 per global depositary receipt (GDR) and 1,578.68 tenge per ordinary share, the company said on Wednesday.

Dec 12, 2012

Kcell shares open firm after sale raises $525 million

ALMATY, Dec 12 (Reuters) – New shares in Kcell
opened trading slightly higher in London as Kazakhstan’s largest
mobile phone operator raised $525 million in a share sale for
its Nordic parent TeliaSonera.

The flotation of a 25 percent stake in Kcell in London and
Kazakhstan was priced at the bottom end of its offered range
at$10.50 per global depositary receipt (GDR) and 1,578.68 tenge
per ordinary share, the company said in a statement posted on
the Kazakhstan Stock Exchange website.

Nov 21, 2012

Kazakhstan in move to ban opposition parties and media

ALMATY, Nov 21 (Reuters) – The Central Asian state of
Kazakhstan has moved to ban two opposition movements critical of
President Nursultan Nazarbayev and to close dozens of opposition
media outlets for “propagating extremism”.

In a step the opposition denounced as an attack on dissent
in the oil-exporting former Soviet republic, prosecutors linked
their request to last month’s jailing of Vladimir Kozlov, leader
of the unregistered Alga! or “Forward!” party.

Nov 21, 2012

Kazakhstan in legal move to ban opposition parties and media

ALMATY (Reuters) – The Central Asian state of Kazakhstan has moved to ban two opposition movements critical of President Nursultan Nazarbayev and to close dozens of opposition media outlets for “propagating extremism”.

In a step the opposition denounced as an attack on dissent in the oil-exporting former Soviet republic, prosecutors linked their request to last month’s jailing of Vladimir Kozlov, leader of the unregistered Alga! or “Forward!” party.

Nov 15, 2012

Kazakhstan banks’ loan growth could reach 15 pct in 2013 -cbank

ALMATY, Nov 15 (Reuters) – Kazakhstan’s banks could expand
lending by up to 15 percent next year as the economy grows but
it will take a year before a distressed asset fund weeds out bad
loans and restores the sector to health, the central bank says.

The central bank set up the fund this year to handle bad
loans run up by banks in the wake of the global financial crisis
that laid bare banks’ exposure to bloated real estate markets
and foreign borrowing.