ArcelorMittal Kazakh Unit Second-Quarter Output Fall on Accident

ArcelorMittal (MT)’s Kazakh unit said second-quarter production was “worse than expected” after an accident at a sintering plant in May.

Rolled-steel output fell 15 percent to 712,900 metric tons from 839,700 tons a year earlier, the AO ArcelorMittal Temirtau unit, said today in an e-mailed statement. That was less than the 715,600 tons produced in the first quarter.

The company cut liquid-steel output 21 percent to 769,200 tons in the second quarter from a year earlier, according to the statement. The company produced 811,800 tons in the first three months of the year.

“The second quarter results were worse than we expected,”Vijay Mahadevan, general director at ArcelorMittal Temirtau, said in the statement. “Production was restricted by the accident at the sintering plant in May, as well as unstable operations of a number of the metal company’s units.”

Article sourced from Bloomberg Businessweek

Kazakh President on business trip to London

The Kazakh Leader Nursultan Nazarbayev has also met with Lord Mayor of the City of London David Wootton. During the meeting, the sides discussed issues of the 30th Summer Olympic Games. Besides, the parties discussed the issues of bilateral relations between the two countries. Kazakh-British trade already exceeded 2 billion US dollars last year with more than 500 joint ventures operating in Kazakhstan. Great Britain is confidently among the top three major investors in Kazakhstan. Nursultan Nazarbayev also left a note in the book of honorable guests and attended a dinner given on behalf of the Lord Mayor. Besides, the Kazakh President visited the reception in honor of Queen Elizabeth II.

Article sourced from Caspio Net

 

M&S opens store in Kazakhstan

The three–storey shop occupies a site in the city’s redeveloped shopping   centre, which also hosts other Western brands such as Gap and Zara.

On Monday afternoon, three days after the store opened for business, a handful of Kazakh shoppers inspected the different clothes in the shop. Most were simply   curious.

“I’m impressed,” said Lena, 28, as she browsed through the women’s pyjama section. “These clothes are for middle-income people like me, they’re not too expensive.”

Similarly to its other overseas shops, Marks & Spencer’s premium Autograph range dominates the store.

Jan Heere, Marks & Spencer’s international director, said the Almaty store opening was in line with the company’s overseas expansion policy.

“With over 40 stores in Russia and Ukraine, our new Kazakh store builds on our established presence in the region which we will continue to grow over the   next few years,” he said in a statement.

Marks & Spencer now has 390 overseas stores spread out across Europe, the Middle East and Asia.

It operates through franchise agreements with local partners, a strategy that allows Marks & Spencer to access local knowledge and spread risk. In   Kazakhstan, Marks & Spencer has teamed up with Al Hokair, which owns a series of shopping malls across the former Soviet Union and the Middle East.

Part of the Marks & Spencer attraction for Kazakh shoppers is its British heritage, associated with old-fashioned steadiness and quality.

Aiganym, 20, was on a shopping trip to the store with her mother Irina, 50.

“We’ve heard it’s good quality,” she said. “It’s a classic collection for all ages.”

The British aspect pervades the Marks & Spencer store.

A full-length photograph of Jamie Redknapp, the ex-England footballer, modelling beachwear hangs in the men’s section.

There was no sign, though, of Marks & Spencer’s new Shwopping campaign, featuring the actress Joanna Lumley, which aims to persuade shoppers to drop   off an unwanted item of clothing each time they shop at a store.

Article sourced from The Daily Telegraph