Kazakhstan News
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CHINA, 2015/04/16
Kazakh President Nursultan Nazarbayev received Chinese Ambassador to Kazakhstan Zhang Hanhuey on April 15.
The conference discussed directions of next development of the Kazakh-Chinese relations and preparations for the upcoming visit of Chinese President Xi Jinping to Kazakhstan.
The Kazakh president stressed a high level of friendly relations established between the two nations. He as well spoke about the successful visit of the Chinese National Council’s Premier, Li Keqiang to Kazakhstan last year.
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KAZAKHSTAN, 2015/04/07
Next fears emerged in February that that the tenge will suffer devaluation in view of worsening economic factors and Russia' s financial slump, Kazakhstan’s government is taking aggressive steps to stabilize the country's financial situation.
Kazakhstan has developed new measures to stimulate increase in its mortgage market next turbulence hit the sector. The mortgage market is presently set to recover under the government's influence, reported Ranking.kz – analytic service .
The government plans to allocate 130 billion tenge (185.65 tenge = $ 1) to the refinancing of residential mortgage loans disbursed during the period 2004-2009.
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INDIA, 2015/03/30
India and Kazakhstan are negotiating with Iran to invest in the country’s steel sector.
“We have announced readiness to accept Indian investment in the steel sector and they are planned to start activity in the country,” Iran’s ISNA news agency quoted Iran’s deputy industry minister Mehdi Karbasian as saying on March 24.
“We are as well negotiating with Kazakh companies to invest in our steel, zinc, and aluminum projects,” he added.
A large number of representatives of foreign mining companies have visited Iran over the completed year and have announced readiness to invest in Iran, he said.
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KAZAKHSTAN, 2015/03/19
The Kazakh government is carrying out a number of measures to promote the development of its auto industry, which was significantly impacted by neighboring Russia's economic slump.
Kazakhstan will introduce privileges for the purchase of domestically produced cars starting from April.
The people will be able to buy cars at reduced interest rates - four %, and below six % leasing for legal entities, Almaty TV channel reported.
But these benefits will be applied only to vehicles produced in Kazakhstan. In order to support the domestic auto industry, the government allocated 20 billion tenge ($108 million), 15 of which are intended for individuals.
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KAZAKHSTAN, 2015/03/06
Kazakhstan plans to prohibit gasoline and diesel fuel imports from its biggest trade partner neighboring Russia.
Magzum Mirzagaliyev, vice minister of energy explained that from March 5th Kazakhstan will introduce a ban on gasoline and diesel fuel imports from Russia, Tengrinews reported.
“From March 5 we are introducing a 45-day-long ban on all imports of gasoline and diesel fuel from Russia. The two nations have agreed that in the current year Kazakhstan will import 1,100,000 tons of gasoline and around 760 000 tons of diesel fuel,” Mirzagaliyev said.
He added that in the beginning of the year Kazakhstan has imported a substantial part of this volume.
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KAZAKHSTAN, 2015/03/06
Kazakhstan’s National Bank has developed in cooperation with the government an action plan to reduce the level of dollarization of the Kazakh economy in 2015-2016.
The plan seeks to ensure macroeconomic stability, develop cashless payments, thus reducing the shadow economy, and prioritize the national currency over foreign currencies, according to National Bank.
The initial direction includes measures aimed at diversifying the economy and increase the all of products and services produced and offered in Kazakhstan as opposed to imports.
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KAZAKHSTAN, 2015/02/12
Almaty is applying for hosting the Winter Olympic Games and the Paralympic Games for the second time.
The ideological basis of the Almaty-2022 plan is the ‘Keeping it Real’ concept, according to the organizing committee.
International Olympic Committee’s Evaluation Commission led by Alexander Zhukov, President of the Russian Olympic Committee and Deputy Prime Minister will visit Almaty on February 9.
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KAZAKHSTAN, 2015/02/12
Dramatic changes in Russian economy resulted from the severe political and economic western sanctions imposed on the country have considerably impacted the Russian-related economies.
Hard economic situation in Russia because of sanctions over Ukrainian turmoil has significantly affected Kazakhstan’s economy, as the dramatic fall in Russian ruble made it difficult for the Kazakh producers to compete with cheap Russian goods.
At the end of 2014, the Russian ruble began its dramatic fall exacerbated by low oil prices. The devaluation is at around 80 % compared to the dollar-ruble exchange rate of mid-2014 and Russian currency’s rate to dollar and euro continues falling.
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KAZAKHSTAN, 2015/02/12
Standard & Poor's has lowered the long-term ratings on Kazakhstan to 'BBB' from 'BBB+'.
A statement by the agency gave a negative outlook for Kazakhstan amid the falling oil prices, which have fallen by additional than 50 % since mid-2014. Such a sharp drop in oil prices has greatly affected the increase prospects of Kazakhstan, as the other oil-producing nations.
The fall in the oil prices will have a significant result on the economic increase prospects, external balance and fiscal performance of Kazakhstan, given the high dependence of its economy on oil revenues, according to agency.
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AFGHANISTAN, 2015/01/20
Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday.
In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.
