'Stable' Tenge Exchange Rate Fluctuates
Total Page：16
File Type：pdf, Size：1020Kb
+31° / +18°C WEDNESDAY, AUGUST 9, 2017 No 15 (129) www.astanatimes.com EXPO 2017 welcomes more than two Kazakh FM attends million visitors, one month to go inauguration of Iranian President the level of strategic cooperation,” By Aigerim Seisembayeva Abdrakhmanov said during his ASTANA – On behalf of Kazakh meeting with Rouhani on the same President Nursultan Nazarbayev, day, as reported by the Kazakh for- Foreign Minister Kairat Abdra- eign ministry’s press service. khmanov took part in the Aug. 5 He also highlighted that the task official inauguration ceremony of of the foreign ministries of the newly elected Iranian President two countries is to facilitate the Hassan Rouhani. full implementation of agreements “Today is a big day not only for reached during Nazarbayev’s visit Iran, but also for all the friends of to Tehran and Rouhani’s visit to your country. I am honoured to Astana in 2016. It is very impor- congratulate you on behalf of the tant, Abdrakhmanov said, to im- President of Kazakhstan, Nursul- plement projects in transportation, tan Nazarbayev. In recent years, tourism, agriculture and mining. together with our head of state, you have brought bilateral relations to Continued on Page A3 Tenge exchange rate EXPO 2017 received its 2,000,000th visitor on Aug. 4, the Astana EXPO 2017 national company announced, identifying the lucky person as Gaisa Zhumaliyev (pic- fluctuates, draws tured), 34, a businessman from Uralsk and a Bolashak scholarship graduate of London Business School. ‘‘With 37 days to go, we have already achieved the planned figures [of two million visitors]. Speaking of pavilion visits, there have been 15 million such visits, which is three times the plan,’’ Akhmetzhan Yessimov, chair of the board of Astana EXPO 2017 said. For more stories on expo please see Page B5. increased attention By Mikhail Maksimov from July 26 to Aug. 2, the weighted average rate of the tenge at the Ka- ASTANA – Fluctuations of the zakhstan Stock Exchange decreased Kazakh student promotes nuclear weapons-free tenge’s exchange rate in the cur- by approximately 2.6 percent to rency market are based on a num- 335.21 tenge per one U.S. dollar. ber of factors, including concerns about the future of ruble after the Combination of factors world at Peace Foundation in New Zealand U.S. additional sanctions against The reasons for the recent high After graduating from the Ger- creation of peaceful communities promote nuclear disarmament and Russia, as well as boom demand volatility of the tenge’s exchange By Assel Satubaldina man-Kazakh University in Almaty at all levels. The scope of their a nuclear weapons-free world. on dollars caused by speculative rate against the dollar were com- in 2015, Kubayeva continued her activities includes peaceful educa- The programme’s geographical comments in mass media. mented on by Aliya Moldabeko- ASTANA – Working to pro- studies at the University of Tubin- tion in New Zealand and beyond, scope has expanded since it was Changes of the tenge’s exchange va, director of the Department of mote peaceful practices and a nu- gen in Germany, focusing on peace advising on peace-related policies unveiled in 2002, as it now engag- rate on the internal currency mar- Monetary Operations of Kazakh- clear weapons-free world has been research and international politics. and decision-making bodies as es schools not only in New Zea- ket once again drew the attention of stan’s National Bank. Arailym Kubayeva’s mission for Students there often spend a semes- well as providing a platform for land, but also worldwide. For in- Kazakhs to the information boards the last five months at the Peace ter studying or interning abroad and the exchange of ideas in this field. stance, this year 125 schools from of exchange offices. Over the week, Continued on Page A4 Foundation office in Auckland, while looking for such programmes, “Searching the internet, I found six countries registered for the New Zealand. Kazakhstan-born she encountered an internship oppor- the Peace Foundation from New project. Kubayeva has also been Kubayeva spoke about her pro- tunity at the Peace Foundation. Zealand that does the conflict reso- preparing a Responding to Armed jects at the organisation and her Established in 1975, the Peace lution work in schools, families and Conflict (REACT) presentation on motivations and challenges in an Foundation works to promote communities. I became interested the same topic and presenting it at interview with The Astana Times. peaceful practices that support the in their peer mediation programme Auckland schools. Moody’s Investors as well as national and international The theme of a nuclear weapons- youth programmes in schools. It free world is of particular impor- was [lucky] because they have an tance to Kazakhstan, Kubayeva said. Kazakhstan voluntarily re- Service report international internship programme and that is why they are very in- nounced the world’s fourth largest terested to see an international in- nuclear arsenal, which it inherited tern. My interests and skills fitted after the collapse of the Soviet Union in 1991, and joined major upgrades Kazakhstan ideally to their needs and vision. I have been working for this [non- international nuclear non-prolifer- governmental organisation] for five ation treaties. Given the significance of the months and three weeks are now to ‘stable’ topic to Kazakhstan, Kubayeva remaining until I am done with my worked to involve Kazakh schools tional currency tenge and switched internship,” Kubayeva explained. in this project, and this year the By Assel Satubaldina to a floating exchange rate deter- At the Peace Foundation, Peace Foundation received two mined by demand and supply at Kubayeva is involved in the or- registrations from the Nazarbayev ASTANA – Moody’s Investors the foreign exchange market. ganisation of the Schools’ Peace Intellectual Schools in Astana and Service (Moody’s) report recently However, the country’s major Week, held Aug. 7-11 to raise in Kubayeva’s hometown, Aktobe. changed Kazakhstan’s rating out- financial regulator proceeded with awareness about the adverse con- look from ‘negative’ to ‘stable’. its occasional interventions in the Arailym Kubayeva (C) and her parents. sequences of nuclear weapons and Continued on Page B2 In addition, Moody’s confirmed market to rule out the possibility of the issue and senior unsecured rat- the tenge further losing its value. ings as well as senior unsecured According to Moody’s, the in- medium-term note (MTN) rating creasing flexibility of exchange of Kazakhstan at Baa3. rate together with countercyclical The Baa3 credit rating includes government spending underpinned Tour de France winner Chris Froome to such strengths as a relative large Kazakhstan’s successful efforts in size of the economy, high per capita contending the oil price shock and income levels, high debt affordabili- strengthened policy effectiveness. ty and low level of public debt along Similarly, Kazakhstan’s signifi- race in EXPO 2017 International Criterium with significant fiscal reserves. It cant fiscal reserves, including the Fabio Aru and Paolo Tiralongo, By Anuar Abdrakhmanov also takes into account weaknesses, National Fund that accumulates Kazakhs Andrey Zeits and Bakhti- such as low institutional strength the country’s excess oil revenues, ASTANA – Tour de France 2017 yar Kozhatayev will also compete. and high proportion of foreign cur- helped Kazakhstan manage eco- winner and British cyclist Christo- Fifteen professional cycling teams rency government debt. nomic slowdown, though the fund pher Froome will participate in the and five national teams will ride Though the report recognises the witnessed a decrease in resources Aug. 12 EXPO 2017 International the roads of Astana. The race route rating may be subjective due to its from $77 billion in August 2014 to Criterium cycling event in Astana, consists of 30-35 circles of 1.6 kilo- outlook to the future, it still allows $62 billion in June 2017. President of the Kazakhstan cy- metres around the capital’s iconic investors to gauge economic and in- It will stabilise at $60 billion in cling federation Darkhan Kale- Baiterek Tower along the streets vestment potential in each country. near future, according to Moody’s. tayev announced recently. Turkestan, Dostyk, Akmeshit and A positive change in the Kazakhstan’s efforts to recapi- “A criterium dedicated to the Kunayev. Kazakh pop stars will per- Moody’s rating stems from Ka- talise the banking system, includ- expo will be held in Astana, with form and other entertainment will be zakhstan’s progress in coping with ing the allocation of nearly 4.6 many of the world’s best riders provided as part of the event. low oil prices, the report stated. percent of GDP in 2017 to this pur- coming. The four-time Tour de The race will be broadcasted live A sharp plunge in oil prices in pose, contributed to the country’s France winner Christopher Froome on Eurosport 2 and Kazsport tele- 2014, which continued in sub- progress in Moody’s rating. also confirmed his participation. vision channels between 1:30 p.m. sequent years, produced huge Yet, the banking sector re- I am sure the fans will witness a and 2:30 p.m. Astana time (9:30 adverse consequences for Ka- mains vulnerable to liability risks, good race,” said Kaletayev. a.m. to 10:30 a.m. CET) and an- zakhstan’s economy that largely Moody’s report added. Cycling stars such as Colombian nounced by popular commentator depends on oil. Meanwhile, Fitch credit agency Nairo Quintana from Movistar