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“Kazakhstan: Local Ethnic Conflict Exposes National Fault Lines”, “Kazakhstan Tells Companies to Prop Up Tenge in Ruble Rout”, "Kazakhstan to take measures to maintain national currency rate ", “Sale of interest in the Galaz Contract Area”

February 11 2015, 16:00

eurasianet.org. “Kazakhstan: Local Ethnic Conflict Exposes National Fault Lines” - “Kazakhstan is a land of unity and accord,” reads the billboard looming over the highway to the southern village of Bostandyk, which was hit by ethnic clashes between the Kazakh and Tajik communities last week.

bloomberg.com.- “Kazakhstan Tells Companies to Prop Up Tenge in Ruble Rout” - Kazakhstan won’t allow sudden exchange-rate jolts and state-run companies must sell dollars to bolster the tenge, according to President Nursultan Nazarbayev. “The central bank must not allow a high rate of inflation or sharp moves in the tenge and it must ensure financial resources get to the real economy,” Nazarbayev said Wednesday at a meeting with government and central bank officials in the capital, Astana. State-owned companies and investors “can’t keep their money in dollars just in case they need to switch into tenge,” he said in comments broadcast on 24.kz TV channel.

trend.az. "Kazakhstan to take measures to maintain national currency rate – president" - Kazakhstan will take all necessary measures to prevent sharp fluctuations of the national currency rate – tenge, Kazakh President Nursultan Nazarbayev said at the enlarged session of the government Feb. 11.

energyglobal.com. “Sale of interest in the Galaz Contract Area” - Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, has announced the conditional sale of the company's equity and debt interests in the Galaz Contract Area, the second of the company's principal assets, for net proceeds of US$20.72 million after estimates of associated taxes. In the event that the price of Brent Crude reaches US$60 per bbl by 28 April 2015, a further US$2.9 million after taxes will become payable to Roxi.

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