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Kazakhstan to allocate $17.5 million for oil exploration

Kazakhstan will allocate over $17.5 million for oil exploration in 2015 to conduct geological exploration, Kazakh Investment and Development Minister, Asset Issekeshev, said at the first forum 'Exploration in Kazakhstan: the focus on oil and gas' today.

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Fitch: Kazakhstan to conduct devaluation of its national currency

Fitch Ratings has presented its report 'Russian slowdown hits CIS states'.  The agency says that the slowdown in Russia’s economy is a significant shock for the economies of other CIS countries, but the impact on these countries’ credit profiles varies considerably. 

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Kazakhstan limits the growth of gasoline retail prices

The Ministry of Energy of Kazakhstan has introduced maximum prices for fuels and lubricants. Minister of Energy Vladimir Shkolnik issued the order 'on the limits of the price of retail sales of petroleum products' yesterday, the department said.The maximum allowable retail price of diesel fuel is 99 tenge per liter, gasoline AI-80 – 89 tenge per liter, AI-92/93 – 99 tenge per liter, Trend reports.The official exchange rate today is 185.05 tenge per dollar. 

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Oil company causes environmental damage in Kazakhstan

Prosecutors of the Kyzylorda Province of Kazakhstan have won the case against PetroKazakhstan Kumkol Resources. The company will pay 17 billion tenge ($1 – 184.1 tenge) for excessive waste, as stated by Kazakhstani Prosecutor General Askhat Daulbayev at a meeting of the board of the Prosecutor General’s Office on Friday, rounding up 2014, Trend reports.The sum the company will pay amounts to 10.7% of the province’s budget (167 billion tenge in 2014).

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100 tons of smuggled copper confiscated on Russian-Kazakh border

Kazakh border guards of the Zhaysan Post (Aktyube border unit) confiscated about 100 tons of copper and detained 5 Kazakh citizens moving from trucks from Karaganda to Orenburg, Trend reports.The suspects lacked licenses for processing and export of copper. Their cargo was worth 120 million tenge ($1 = 183.52 tenge). The copper was handed to the Financial Police of the Aktyube Region of Kazakhstan

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Eurasian Union Treaty text published

The website of the Kazakh Ministry of Economy and Budget Planning has published the latest version of the second part of the Treaty of the Eurasian Economic Union. Economists Oleg Noginsky, Alexander Mikhailenko and Vladimir Lepekhin commented on this version of the second part (the first one is still a secret) for VK. 

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Presenting the new Criminal Code of Kazakhstan to the country's parliament, Kazakh Deputy Prosecutor General Johan Merkel said that the document will punish people caught rumour-mongering, Tengrinews.kz reports.Rumour-mongering is categorized …

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Prices for purchase of grain and prices for housing and utilities services until May 1 have been frozen in Kazakhstan, according to Prime Minister Serik Ahmetov, ITAR-TASS reports.The PM noted the need to stabilize prices for basic food products, social goods, fuel, medicaments. He demanded ministers reconsider conditions for attraction of investments, reminding about President Nursultan Nazarbayev’s criticism of their work.The Kazakh National Bank announced devaluation of the national currency (tenge) on February 11.

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Kazakh currency rate stabilizes

The Kazakh national currency rate stabilized at 184.5 tenge per USD at the end of trade on Wednesday, ITAR-TASS reports.The Kazakh National Bank declared devaluation of the tenge on Tuesday.

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President of the Kazakh National Bank Kayrat Kelimbetov said today that no repeat devaluation of the national currency (tenge) will happen, Lenta.ru reports.He sais the population should not believe wild rumours about another dramatic fall of …

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Protesters demand resignation of president of Kazakh National Bank

Protesters have gathered at the Kazakh National Bank in Almaty to demand the resignation of the bank’s president, Kayrat Kelimbetov, over the loss of 20% of the national currency's (tenge) value yesterday.The demonstrators demanded Kelimbetov to come out and hear their protest. The president of the National Bank is currently in Astana. His deputy Kuat Kozhakhmetov agreed to talk with the activists. The Bank was surrounded by police officers.

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The price for dollars increased by 0.06 rubles and for euros by 0.21 rubles today. High oil prices and interventions by the Russian Central Bank have stabilized the situation, News Kazakhstan reports.Pavel Demeshik of ING Eurasia said that …

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Russian Deputy Minister for Economic Development Andrey Klepach said that devaluation of the Kazakh currency, tenge, this morning will have little impact on Russia, Interfax reports.He noted that Kazakhstan was exporting most of its products to faraway states and was importing a lot of food and non-food products from Belarus and China and less from Russia.The deputy minister believes that the value of the Russian ruble is more important for Kazakhstan than the value of the tenge.

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