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Weekly Roundup: January 18 – 24, 2010
The Caspian Sea from above. Photo courtesy of NASA.
This past week: Kazakhstan announces the imminent sale of BTA Bank, Caspian energy dynamo Tethys Petroleum lists in Hong Kong while in Azerbaijan, a new report on residential real estate prices in the secondary market has been released. The Caspian Business Journal also has published the most recent Turkmenistan Energy Weekly and a recap of its conference call on January 23rd with AccessBank.
BTA Bank to be sold to Russia’s Sberbank in Q2
Silk Road Intelligencer (SRI, link) is reporting that Kazakhstan’s state holding company Samruk-Kazyna is in talks to sell troubled BTA Bank to Russia’s largest financial institution, Sberbank as early as the second quarter of 2010. BTA Bank is undergoing a complete restructuring of its debt load and had previously been attempting to slim down for a second chance at life in 2010.
According to SRI the bank is hoping to have its remaining legal documents signed with its creditors by the end of January.
The restructuring and sale of BTA should signal continued progress in unwinding and unloading of Kazkahstan’s troubled banking sector and improved hope for stability and growth in 2010.
Tethys Petroleum lto list on the Hong Kong Stock Exchange
Tethys Petroleum, a Caspian and Central Asian focused energy firm, is preparing to list on the Hong Kong Stock Exchange, demonstrating its continued growth in region. Tethys focuses its efforts on oil and gas exploration and development in Kazakhstan, Uzbekistan and Tajikistan. It currently manages almost 1/3 of all PSAs in Tajikistan.
Tethys Petroleum is already listed on the Toronto Stock Exchange. Tethys, “TPL”, closed at Can$0.94 on Friday January 22.
New Figures for Residential Real Estate in Baku, Azerbaijan
A report released by the Property Market Union of Azerbaijan now lists residential property in Baku at a price of $1,186 USD per square meter.
According to the report which is being detailed in Today.az, “The average number of rooms is 2.5, the average price of one room – $46,721 and average price of apartments is $112,650 USD. “
Turkmen Weekly Energy Review – Available Below
TURKMEN WEEKLY ENERGY REVIEW 01-18-10
AcessBank Conference Call Roundup
On January 21st the Caspian Business Journal hosted an interactive conference call with AccessBank’s Managing Director, Andrew Pospielovsky and Brien Desilets of Claret Consulting. Mr. Desilets’ feature article with original analysis of AccessBank can be located here.
The full recap can be viewed here.
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