Business News in Brief

Nasdaq Dubai and the Kazakhstan Stock Exchange (KASE) signed a Memorandum of Understanding (MoU) May 12 to explore collaboration possibilities and exchange information about their markets. Under the MoU, the exchanges will work together to develop initiatives for cooperation between the Dubai and Almaty markets, including links between central securities depositories. They will also examine how to cooperate to promote Islamic capital markets products and solutions. The MoU was signed in Dubai by Hamed Ali, Chief Executive of Nasdaq Dubai, and Maxat Kabashev, Chief Executive of KASE, during a visit to the emirate by a delegation of Kazakh leaders including head of the National Bank of Kazakhstan Kairat Kelimbetov. “Kazakhstan’s ties to the UAE are growing in importance in various sectors ranging from economic and financial to social and cultural. I believe that as our two nations cooperate further there will be growing synergies between KASE and Nasdaq Dubai,” said Kelimbetov. “Nasdaq Dubai looks forward to exploring a wide range of potential collaboration projects with KASE for the benefit of both exchanges and their market participants. As the international exchange serving the region, we are committed to creating new avenues for financial cooperation to promote cross-border economic growth and wealth creation,” said Ali. According to Kabashev, there are expanding opportunities for cooperation between the exchanges in a number of areas.

 

The third international transport and logistics business forum titled New Silk Road, which will be held within the Astana Economic Forum (AEF) 2015, will be attended by more than 200 heads of railway administrations from around the world, the national company Kazakhstan Temir Zholy recently reported. “On May 22, within the third international transport and logistics business forum on New Silk Road, more than 200 representatives of the railway administrations, including the leaders of DP World and railways from Turkey, China, Azerbaijan, Georgia, Iran, Lithuania and Latvia will take part,” according to Kazakhstan Temir Zholy. As noted by the national company, issues of international cooperation in the development of international transport corridors, the Trans-Caspian route and implementation of transport and logistics solutions to the countries of the Eurasian continent, as well as further development of the New Silk Road, are expected to be discussed. The topics will be related to the formation of a stable transport system for international transport, the development of an integrated container service between Asia and Europe and enhancing the role of business in development of transport and logistics infrastructure.

 

A test batch of goods was released from Zhan Arai Zhem in Kyzylorda, the modern compound feed mill company built for 375 million tenge (US$2 million) under the state programme of industrial and innovative development. The commissioning work has been completed and the plant will begin full production in a few days. The capacity is five tonnes/hour, or 120 tonnes/day, and in a year it will be expected to produce about 30 million tonnes of forage. The plant will produce two types of feed – loose and granular, with the basic ingredients of rice, wheat, corn and sunflower. The cost of one kilogramme of feed will be 50 tenge (US$.27). The operation is only one part of a large project that will also include two more objects – a rice processing plant with a capacity of 150 tonnes and a workshop for pasta production. The construction work on the projects has already been started and at full load the plant is expected to create 250 new jobs. The problem of raw materials was solved, which will be not only purchased, but also grown on their own farmland.

Get The Astana Times stories sent directly to you! Sign up via the website or subscribe to our Twitter and Telegram!