Kazakhstan News
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KAZAKHSTAN, 2016/01/11
Kazakhstan’s “Kokel Munay” company received 50 % of the subsoil use rights in "Bekturly Vostochnyi" in the Mangystau region of Kazakhstan, which follows from the supplement, signed to the arrangement between the Ministry of Energy of Kazakhstan, the Kazakh national oil and gas company "KazMunayGas" in 2015, Kazakhstan Stock Exchange (KASE) reported on its website.
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AFGHANISTAN, 2016/01/02
World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday.
IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide.
Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
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KAZAKHSTAN, 2015/11/28
The situation in Kazakhstan's economy is likely worse than it was predicted at the beginning of the year, Dosym Satpayev, the Director of the Kazakh Risk Assessment Group, believes.
"Since the end of last year, the Kazakh government is trying to prevent rising unemployment. The government has signed memorandums with large Kazakh enterprises that they will guarantee the preservation of jobs, or in the case of layoff of an employee, they will search an extra job for him/her," the expert told Trend on November 25.
On November 23, Kazakh Energy Minister Vladimir Shkolnik suggested that additional than 40,000 employees of the oil and gas sector of the country could face layoffs, and wages will be reduced by a third if oil prices remain at a low level in 2016. Next year, the major international financial institutions expect the average price of Brent at $55-$58 per barrel.
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AUSTRIA, 2015/11/22
The trade turnover between Austria and Kazakhstan has increased additional than 12 times over the completed years.
The figure was 3.1 billion euro in 2014, Chairman of the Union of Machine Builders of Kazakhstan Meyram Pshembaev said during the forum recently held in Vienna.
Kazakh and Australian businessmen discussed the business partnership in the machinery industry within the Kazakh-Austrian business forum of mechanical engineering of Austria.
Pshembaev as well stressed that the priority directions of developing the Kazakh-Austrian economic cooperation are the engineering industry, investment cooperation and business partnership.
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KAZAKHSTAN, 2015/11/22
Kazakhstan plans to commission 106 facilities to generate energy from renewable energy sources by late 2020, according to the country’s Energy Ministry.
The country will commission 28 solar power plants with a capacity of 713.5 megawatts in Almaty, Zhambyl, Atyrau, Karaganda, Kyzylorda, South Kazakhstan and Mangistau provinces, the ministry told Trend.
The total capacity of these facilities will all to around 3.055 megawatts.
The ministry said all these projects are being implemented with foreign funds and are not financed from the national budget.
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JAPAN, 2015/10/29
Kazakhstan's Kazatomprom Company has signed an agreement on cooperation with Qatar in solar energy development.
Kazatomprom reported on October 28 that a framework agreement on a joint venture in the field of solar energy was signed with Qatar Solar Energy.
According to the agreement, Kazatomprom is becoming a strategic shareholder of the Qatari company and is able to expand the chain of production of solar panels from raw materials to the electricity generation, to increase the production capacity of existing enterprises and to start producing ingots and cells with a capacity up to 1,000 MW.
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KAZAKHSTAN, 2015/10/14
The Scottish oil field services company Wood Group will provide the Tengizchevroil crude storage capacity project at the Tengiz field with detailed engineering, control hardware and remote instrument enclosures in order to help increase its storage capacity.
Wood Group will assume control over the work at the Tengiz field as part of a multi-million dollar arrangement, which the group had won in Kazakhstan from US civil engineering outfit Bechtel.
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CHINA, 2015/10/14
Astana and Beijing signed an agreement on provision of free of charge technical assistance to the armed forces of Kazakhstan.
Kazakhstan’s Defense Ministry said that the agreement was signed during a conference between Kazakhstan’s Defense Minister Imangali Tasmagambetov and China’s Defense Minister Chang Wanquan.
The document stipulates the transfer of bolster-type tractors with trawls and loading-unloading platforms by China to Kazakhstan’s armed forces.
The significant aspect of cooperation between the defense ministries of Kazakhstan and China lies in a joint training and experience exchange in capacity building for countering asymmetric threats (training of appropriate forces units), said the message.
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KAZAKHSTAN, 2015/10/14
The Organization of the Petroleum Exporting Nations forecasted the decrease in Kazakhstan’s oil production by 20,000 barrels per day in 2015 to average 1.62 million barrels per day.
As compare with its September oil market statement, OPEC predicted that Kazakhstan’s oil production will decrease by 10,000 barrels per day in 2015.
OPEC said that Kazakhstan’s August output declined compared to July by a steep 86,000 barrels per day to 1.51 million barrels per day, the lowest level since October 2014. This was due to a 0.1 million barrel per day decline in Tengiz field output.
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KAZAKHSTAN, 2015/09/24
The housing sector has had a positive impact on the construction industry in Kazakhstan, according to the Ranking.kz analytical service.
Kazakh construction companies have added an all-time high of roughly 719,000 cubic meters of new residential property in August. This amounts to a 30.5 % increase in new residential property compared to last August, adding 3,259 apartments and 2,391 single-family houses on a turnkey basis.
The top three areas for housing construction are Astana, Almaty and the Almaty region, while the highest increase rate was seen in East Kazakhstan, West Kazakhstan, and the Akmola region.
