PPI inflation made up 2.8% y/y in July, the State Stat Agency has informed. In m/m terms, inflation stood at 1.8%. Prices in the mining sector went up by 2.9% m/m while in the manufacturing industry decreased by 0.7% m/m. Prices for the produced goods went up by 1.8% m/m while for production services grew by 0.8% m/m. Among goods, prices went up for gas condensate (17.4% m/m), natural gas (3.3% m/m), black oil (1.6% m/m) and crude oil (by 1.2%). On the other hand, prices for petrol went down by 1.8% m/m, propane-butane by 1.6% m/m and for coal – by 1.2% m/m.
The deal under which China’s troubled CEFC will take over 51% in Romanian unit KazMunayGas International (KMGI) from Kazakhstan's KazMunayGas (KMG) has not been cancelled but has been postponed ... more
A Kazakh court on March 14 sentenced former Kazakh Economy Minister Kuandyk Bishimbayev to 10 years in prison after he was found guilty of bribery and embezzlement. Judge Adilkhan ... more
Russia’s Energy Minister Aleksander Novak has said Iran could join the Eurasian Economic Union (EEU) by May, RT reported on March 10. Tehran has repeatedly lobbied Moscow over the past year to ... more