Economy

(SRI) - The 2010 budget for the development of the Kashagan field in Kazakhstan could be cut to $7.4 billion from an earlier plan of $10.4 billion, Kazakh state oil and gas company KazMunaiGas (KMG) proposed last week.

Prime Minister Vladimir Putin on Wednesday said Russia had won Turkey's backing for Moscow to build a key section of a new gas pipeline seen as a rival of an EU-backed project in Turkish waters.

LONDON -(Dow Jones)- Kazakhmys PLC (KAZ.LN) Wednesday said it has signed a $200 million loan facility with China Development Bank Corp. and Kazakh sovereign wealth fund JSC Samruk-Kazyna to develop existing mining projects, the latest installment from a $2.7 billion finance package.

mailChina is in an unfortunate position regarding their energy consumption.

masimov_1Karim Massimov defends growing links with China


tengeKazakhstan's central bank widened the corridor used to control the exchange rate of the national currency against the dollar.

 

Kazakhstan's economic performance in 2010 will be closely correlated to international macroeconomic developments and trends in world commodity markets.

 

Trade hardly can be called a locomotive of Kazakhstani economics, because main money in the country is from oil and metals. However, trade is a back bone of social well-being, because 25 to 28 per cent of economically active population, by analysts' estimate, is engaged in it. Nowadays the trade sphere suffers hard times.

 

China will soon reach an agreement to receive nuclear power assistance from Kazakhstan, a source told China Daily.

 

 

The creditors of Alliance Bank, Kazakhstan's second-largest lender to default this year, voted to approve a plan to restructure KZT677 billion ($4.5 billion) of debt.

 


 

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