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Kazakhs bet on Russian presidential polls

Kazakh citizens are making bets on Russian presidential polls, ExpressK reports.Victor Demyanov, owner of a book-maker office, said that bets can be made for any candidate, except Vladimir Putin. He said that any tenge for other candidates can increase 555-fold.Others are making bets on the number of votes Putin will get. A local from Astana bets 5 million tenge that the Russian prime minister will gain over 51.25% of vote. In this case, he will win 2.5 million tenge (payment coefficient of 1.57).

Kazakh National Bank expects inflation at 6-8% in 2012

The Kazakh National Bank expects inflation at 6-8% in 2012, CA-News reports.The inflation rate will be set by industrial growth, sustainable increase of population’s income, reduction of unemployment, gradual restoration of credit activity in banks.The National Bank will stress on prevention of fluctuations of national currency and will encourage a flexible currency rate of tenge.

New mayor in Janaosen

Serikbay Trumov has become the new Mayor of Janaozen, a Kazakh city which experienced disorders in December 2011, News Kazakhstan cites Nurbol Telegenov, spokesman of the head of the Mangistau Region, as saying.Janaozen experienced mass disorders on December 16, resulting in 16 people killed and over 100 injured. 125 facilities were set on fire or looted. The unrest was started by former staff of OzenMunayGaz. The damage caused totals billions of tenge.

5,000 tenge banknote redesigned in Kazakhstan

Kazakhstan has changed the design of  the 5,000 tenge banknote, first issued in 2011, Kazinform reports.The banknote has a size of 144x76 mm. Its main colour is red with vertical images. The red-blue colour dominates the other side with horizontal images. 1 dollar is worth 148.29 tenge.

KazMunayGad to spend over $3.77 billion in next 5 years

The Kazakh National Oil and Gas Company KazMunayGaz plans to spent over $3.77 billion for geological exploration in 2012-2016, including 499 billion tenge for drilling 435 exploratory boreholes and seismological exploration on an area of 12,024 square km, News Kazakhstan reports.

Kazakhstan increases uranium mining

Kazakhstan mined 9148 tons of uranium in the first half of 2011,exceeding production in the same period of 2010 by 9%, Trend reports.Kazatomprom plans to mine 10,130 tons of uranium in the second half of 2011.Kazatomprom mined 5235 tons of uranium.The company plans to earn 144,851 million tenge in the first half of2011, exceeding the indicator in the same period of 2010 by 37%.Net income in the first six months will reach 30,369 million tenge,exceeding the previous year's indicator by 63%.

Kazakhstan approves language development state program

Kazakh President Nursultan Nazarbayev has passed a state program forthe development and functioning of languages in Kazakhstan for2011-2020. The order was signed on June 29, 2011, News Kazakhstanreports.

Kazakhstan and China agree to use national currencies in swap operations

Kazakhstan and China have agreed to exchange national currencies in the framework of swap transactions involving tenge and yuan, Trend reports. The agreement was signed between the National Bank of Kazakhstan and the People's Bank of China during a visit of Chinese delegation to Astana.The Chinese delegation headed by President Hu Jintao is on a visit to Astana from June 12. China and Kazakhstan have also reached agreements on environmental protection and all-round strategic partnership during the meeting

Kazakhstan invested $107 billion in oil and gas in last decade

Kazakhstan has invested about $107 billion in the oil and gas sector in the last decade, the Kazakh oil and gas minister, Sauat Mynbayev, told the Fourth Economic Forum in Astana today. The minister clarified that 60% of the sum involves transnational corporations.The Karachaganak, Tengiz and Kashagan projects were realized with the participation of the world's largest oil and gas companies. 56 million tons of oil out of 80 million were extracted by transnational corporations. The Oil Fund received some 2 trillion tenge from the companies in 2010.

Millions on the rise

In the international airport of Aktau, the customs officers averted an attempt to transfer abroad a large sum of money in the dollars and tenge, CaspioNews reports. The undeclared money (18 thousand dollars and 1 million 116 thousand tenge)  was found in the luggage of 24-year old Kazakh during the customs check-up. He was registered on international flight 84 Aktau - Tbilisi.

Kazakhstan lifts currency band for tenge

Kazakhstan has returned to the floating rate of the tenge on February 28, after two years of using the currency band, deputy head of the National Bank Daniyar Akishev said at a seminar in Astana on Monday, RIA Novosti reports.

KazMunayGaz to make 6,000 employees redundant

KazMunayGaz plans to make 6,000 employees redundant, it was announcedby managing director of the National Wealth Fund ‘Samruk-Kazyn’,Nurlan Rakhmetov, KazTAG reports.Rakhmetov said that the economic effect from realizing non-core assetsis equal to 34 billion tenge.