S&P upgrades GAMMA corporate governance rating to GAMMA-5+ for Development Bank of Kazakhstan

S&P upgrades GAMMA corporate governance rating to GAMMA-5+ for Development Bank of KazakhstanStandard & Poor’s Governance Services said it has raised its governance, accountability, management, metrics, and analysis (GAMMA) score on JSC Development Bank of Kazakhstan (DBK) to GAMMA-5+ from GAMMA-5. The raising of the GAMMA score primarily reflects the appointment of two additional independent directors to the board and the adoption of a long-term strategy in 2010. DBK is a Kazakhstani development institution wholly owned by “Samruk-Kazyna” Sovereign Wealth Fund.

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Underwritings of USD 1 billion for the Kazakhstan insurers in 2010

Underwritings of USD 1 billion for the Kazakhstan insurers in 2010Insurance companies in Kazakhstan registered last year a volume of gross written premiums worth around USD 1 billion, up 24% compared with the previous year, said Alina ALDAMBERGEN, Vice President, Insurance Supervisory Agency of Kazakhstan, in opening of the International Conference “Insurance in Central Asia”, that took place on the 3rd and 4th of March, 2011, in Alma-Ata. This evolution comes after two consecutive years of decline, of 9% in 2008 and of 15% in 2009, according to official data.

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Reduction of administrative barriers stimulated business activity

Reduction of administrative barriers stimulated business activityThrough the years of independence the business sector has played a prominent part in Kazakhstan’s economy. The state reached the main strategic goal – created all necessary conditions for the development of small and medium businesses. An opportunity to be engaged in business has become a real and integral part of the life of the Kazakhstanis.

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Uranium development set for growth on back of good results in 2010

The establishment of a national industrial complex, competitive in both domestic and overseas markets, is the top goal of the Kazakhstan’s national atomic company, Kazatomprom, the country’s operator for production, import and export of uranium, rare metals, nuclear fuel, power plants, special equipment and dual-purpose materials.

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