Gulbanu ABENOVA
ASTANA, Sept 9 (THE GLOBE)
�England is one of the leading countries of the world and it may do a lot for Kazakhstan. The most insulting thing is that business circles identify Kazakhstan with other CIS countries. A year and a half ago, when Russian credit rating was reduced, automatically the Kazakhstan�s credit ratings was reduced too,� the head of the Kazakhstan government remarked during his meeting with the Great Britain ambassador extraordinary and plenipotentiary to the Republic of Kazakhstan Richard Jorge Luington on September 9 in Astana.
Nurlan Balgimbaev said to the ambassador of Great Britain, that the government of our republic wished Kazakhstan to be perceived as an independent country. He stated that all conditions necessary for investments were being created in the republic and we had the legislation, which was accurate enough.
�I have a very important task, as it is required to improve further he level of our interaction and co-operation,� the ambassador of Great Britain said. He mentioned that before his departure he had been instructed on problems of the tax regime by one of the biggest companies investing to Kazakhstan, �British Gas International�.
The PM told to the ambassador that that problem had been settled, and it had touched �British Gas International�, �Agip� and �Texaco�. On the next Monday these companies will pay taxes, caused the dispute.
Richard Luington said that in the end of that month the visit to Kazakhstan by members of the House of Lords of the British Parliament, as they had been invited by the Kazakhstan party.
LIMASSOL, Sept 9 Asia Pulse
In its annual report on Kazakhstan�s banking system, Moody�s Investors Service says the outlook for the banks it rates in the country is stable.
�Ongoing consolidation and less government involvement should strengthen the Kazakhstan banking system as a whole�, Moody�s says, �but these positive developments remain highly vulnerable to changes in central bank policy and volatile conditions�.
�Our main concern for all banks in Kazakhstan,� Moody�s says in the report, �is their difficult operating environment, which could, if it deteriorates further, put the ratings under downward pressure.� Moody�s has ratings on three Kazakhstan banks. All have foreign currency deposit ratings of B2, while two of the banks have E+ financial strength ratings, and one a financial strength rating of D.
Kazakhstan�s economy is reeling from depressed commodity prices and the after-affects of the crisis in neighboring Russia. In April, the government allowed the national currency, the tenge, to float freely. Because of the devaluation, Moody�s says, the total assets of the banking system dropped from US$ 2.2 billion on January 1, 1999 to under US$ 2 billion six months later. Moody comments that the banks expected and prepared for the tenge devaluation, as they widened the open foreign currency positions on their balance sheets.
Moody�s is concerned, however, that the devaluation has made it difficult for a number of bank clients to meet sky rocketing debt service costs, especially those that depend heavily on the domestic market. The asset quality of banks therefore may suffer and that the situation requires monitoring.
Central Bank May Ease Monetary Policy The National Bank of Kazakhstan (or NBK) may be coming under pressure to relax the tight monetary policy that has successfully checked inflation. In a June speech, the president of Kazakhstan announced new economic initiatives that, effectively, suggested more expansionary fiscal and monetary policies, Moody�s reports.
�We believe that a hike in inflation rate and subsequent increase in nominal lending rates, coupled with the economic slowdown, may bring about further deterioration in the health of banks,� Moody�s banking analysts say in the report.
Moody�s, however, remains confident that the central bank would come to the rescue of one of the larger banks should it become distressed, a fact reflected Moody�s ratings of these banks.
ALMATY, Sept 9
(THE GLOBE)
The chairman of the tax service department of RK Rakhat Aliev was dismissed, and according to the President�s decree dated September 8 he was appointed the head of the national security department of Almaty and Almaty region, the press secretary of the central department of CNS RK announced to THE GLOBE on Thursday.
According to Beknazir Kenzhebulatov, the general-mayor Rakhat Aliev has started his new work in the morning September 9. Mr. Nurbekov, the head of the Almaty national security department was appointed the deputy the chairman of CNS of the republic of Kazakhstan.
We remind you that one of the closest supporters of the President, Nurtai Abykaev was dismissed from the post after the scandal with the sale of military jet-propelled aircraft to North Korea. Experts suppose that Rakhat Aliev strives for his post.
Comments by the experts:
Seidakhmet Kuttykadam, the leader of �Orleu� movement explained Aliev�s appointment that it was inconvenient for the leaders of the country to appoint him directly to a higher CNS post. But he is sure that by the end of this year, he will fast climb the scale of ranks, and will soon replace Alnur Musaev at his post.
Nurbolat Masanov, an independent expert
said that Rakhat Aliev is being prepared for the post of the chief of CNS of the republic. The appointment of Aliev to CNS was made in the light of the single process of concentration the power. �Everything is evident here, there is no secretes in this appointment,� Mr. Masanov resumed.
Erkanat ABENI
ALMATY, Sept 9
(THE GLOBE)
�The election commissions received an instruction to limit the number observers representing each candidate,� one of candidates of �Orleu� movement announced (basing on words of the secretary of the Central Election Commission) on Thursday in Almaty.
According to Nariman Bereshev he was told at the Central Election Commission that from that time up to 7 proxies of each candidate are permitted at every election district. �On Wednesday September 8 they did not take lists of observers at one of the election districts,� Mr. Bereshev said and quoted a member of the election commission: �We gave you 7 certificates for your proxies, they will be your observers.�
Naturally, the �Orleu� member thinks, that such a small number of observers will neither theoretically nor physically manage to control the election process. Giving an example, he mentioned that in one Alatau election district there were 81 polling districts. To control the election process they will require at least three times more people, who are to poll the voted population from 7 a.m. to the night and write down for whom they voted, in order on the next day they can compare the results with the official figure, the candidate said.
According to Mr. Bereshev, all this is again dine to support the authorities� party, which is obviously not interested in the control for the election.
The member of the Central Election Commission Tatyana Uhlopkova commented that this restriction had been introduced to regulate the election process. That means that all observers are to pass accreditation and they will be given special certificates. �Otherwise, how can they confirm their authority,� she emphasised.
MOSCOW, Sept 9 (AFP)
Interior Minister Vladimir Rushailo said Thursday that terrorists may have been behind the blast at a Moscow apartment block that left 20 dead, according to the latest toll, ITAR-TASS reported.
Rushailo cautioned that no evidence had been found to support such a claim and noted that investigators were looking at several leads in the probe of the explosion shortly after midnight in southeast Moscow.
Separately, the Interfax news agency said an anonymous caller had claimed responsibility for the blast and a car-bomb attack on an apartment building in Dagestan, saying they were �our response to the bombing of villages in Chechnya and Dagestan.�
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