Fitch Affirms KazMunaiGaz National Company at ‘BBB-‘; Outlook Stable

Fitch Affirms KazMunaiGaz National Company at 'BBB-'; Outlook StableFitch Ratings has today affirmed Kazakhstan-based KazMunaiGaz National Company’s (NC KMG) Long-term foreign and local currency Issuer Default Ratings (IDRs) at ‘BBB-‘ and ‘BBB’ respectively. Fitch has additionally affirmed NC KMG’s senior unsecured rating at BBB-‘ and Short-term foreign currency IDR at ‘F3’. The Outlooks for the Long-term IDRs are Stable.

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Ablyazov’s schemes: the oil connection – a black hole of black gold

Ablyazov’s schemes: the oil connection - a black hole of black goldIt has been stated, claimed, exclaimed, demanded in all tones of voice: Kazakhstan wants, needs and facilitates foreign investments. Not just in the exploitation of natural resources but in virtually all sectors of the economy, the key question in pursuing that goal remains not just who the investor is but also where the investment comes from.

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Kazakhstan-based Nurbank informs on Y2009 highlights

Kazakhstan-based Nurbank informs on Y2009 highlightsIn 2009 Nurbank continued to abide by its mid-term strategy pursuing leadership in the Kazakhstan banking system. The bank is following a moderate conservative policy, with preference to invest into quality products and services. Bank assets as on January 1, 2010 reached KZT295 bn, own capital – KZT45 bn, net profit reached KZT762 m. with an increase of KZT633 m on year-to-year basis.

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Moody’s downgrades five Kazakh financial institutions

Moody's downgrades five Kazakh financial institutionsMoody’s Investors Service has today concluded its review for possible downgrade of six Kazakh financial institutions with the downgrade of the ratings of five financial institutions, four of which are financial Government-Related Issuers (GRIs) – namely Development Bank of Kazakhstan, Kazakhstan Mortgage Company, KazAgroFinance and Agrarian Credit Corporation.

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Ablyazov & Associates: the making of a diversion scheme/III

Ablyazov & Associates: the making of a diversion scheme/IIIMoney (especially where lots of it are at stake) works under the law of Archimedes’ communicating tubes. What one party loses, another party is bound to gain. Identifying the losing party is usually not a major problem in “classical” cases of embezzlement – since that party will be the first to complain in the open.

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National company KazMunaiGas participates in the Republican workshop on Kazakhstan content development

National company KazMunaiGas participates in the Republican workshop on Kazakhstan content developmentNational company KazMunaiGas (Astana), bonds of which are present in Kazakhstan Stock Exchange (KASE) official list, informed KASE that on March 31 in Astana started the republican workshop on Kazakhstan contend development with involvement of the Prime Minister K. Massimov, representatives of aikmats, government bodies, enterprises and national companies. Within this event was organized an exhibition of Kazakhstan goods producers “Goszakaz 2010”.

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