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Kazakhstan Innovation GDP science Russia Massimov media Majilis Kazakh humanization space KazSat-2 Baikonur Masimov loan economy business Asian Development Bank South Kazakhstan oblast fuel crisis profit Oil KazMunaiGas kit earthquake disaster Almaty Iraq Middle East & Africa Ministry of Oil and Gas Nursultan Nazarbayev Ministry of Foreign Affairs Tenge Marchenko currency bank investment growth budget Government inflation

Kazakhstan to spend 1% of its GDP on innovations by 2014 Currently the figure stands at 0.2%.

13 May 2011

Massimov and Vekselberg discuss cooperation between Kazakhstan and Skolkovo Kazakhstan’s Prime Minister wrote about it in his Twitter account.

13 May 2011

MP Solovyova wants media exempt from criminal liability Kazakhstan Majilis Deputy Aigul Solovyova requested to exempt media from criminal responsibility.

13 May 2011

Russia and Kazakhstan to sign a cooperation agreement to build and launch KazSat-2 KazSat-2 was to supplement the KazSat-1 satellite, but will now replace Kazsat-1 due to the complete loss of the first satellite.

12 May 2011

Kazakhstan is leading user of Facebook in Central Asia According to the statistics, the number of Facebook users in Kazakhstan is approaching 288 000.

12 May 2011

Asian Development Bank annual sitting to be held in Astana in 2014 Kazakhstan’s Prime Minister Karim Massimov has met Asian Development Bank's (ADB) Vice-President Xiaoyu Zhao today.

12 May 2011

Asian Development Bank to extend a loan worth $500 million Kazakhstan’s Government, Damu Small Entrepreneurship Development Fund and Asian Development Bank have signed a framework agreement worth $500 million to support small and middle-sized business in Kazakhstan.

12 May 2011

Fuel stations owners complain about fuel deficiency in South Kazakhstan Owners of the fueling stations and main fuel suppliers complain about fuel deficiency in South Kazakhstan oblast.

12 May 2011

Foreign Investors’ Council (FIC) to hold a sitting May 18 The sitting will be focused on modernization of Kazakhstan-based enterprises.

12 May 2011

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Almaty citizens advised to pack their own disaster preparedness kits A representative of Red Croscent Society advised Almaty residents to pack up disaster preparedness kits on their own.

11 May 2011

KazMunaiGas EP exiting negotiations over Akkas gas field in Iraq KazMunaiGas Exploration Production was established in March 2004 and is among the top three oil producers in Kazakhstan.

11 May 2011

New oil refinery may be built in Kazakhstan in 2020 Processing capacities of the current three refineries [based in Pavlodar, Atyrau and Shymkent] can meet the domestic demand: O&G Minister Sauat Mynbayev.

11 May 2011

Kazakhstan to boost oil processing to 17 million tons by 2015 As of today, Kazakhstan-based refineries process a bit over 13 million tons a year: Oil and gas Minister Sauat Mynbayev.

11 May 2011

Russian Foreign Minister to visit Astana on May 13-14 Minister of Foreign Affairs of Russia Sergey Lavrov will visit Astana on May 13-14, 2011.

10 May 2011

National Bank of Kazakhstan planning currency swap operations with China and Russia Both the yuan and the ruble are growing more demanded to service external trade: Gregory Marchenko, Head of Kazakhstan’s National Bank.

10 May 2011

Ministry of Economic Development and Trade unveils a detailed plan to secure 7% GDP growth To secure GDP annual growth at 7%, capital investments for the period of 2011-2015 should grow by 58.5% against 2010: Kairat Kelimbetov, Minister Economic Development and Trade.

10 May 2011

Budget deficit to be cut down from 2.5% to 1.3% of GDP Ministry of Economic Development and Trade forecasts budget deficit will be cut down to 1.3% of the nation’s GDP by 2014.

10 May 2011

Kazakhstan developing Plan B in case of negative economic scenario Early May the Government adopted a plan to secure 7% GDP growth in 2011 in line with President Nazarbayev’s instructions.

10 May 2011

Economy Minister regards year 2011 as “dangerous” in terms of inflation He reminded that in January – April consumer prices grew 4.2% as compared to December 2010.

10 May 2011