The President of Kazakhstan Kassym-Jomart Tokayev will pay an official visit to the Federal Republic of Germany on December 5-6.

The planned negotiations with Chancellor Angela Merkel will consider the state and prospects of the development of bilateral relations between Kazakhstan and Germany. The program of the visit also includes meetings...

At the expanded meeting of the National Qualifications Council chaired by Prime Minister Askar Mamin, issues of developing professional standards were considered.

Minister of Labor and Social Protection of the Population Birzhan Nurymbetov reported on the results of the work on developing qualifications framework and professional standards, Minister of Education and...

Elbasy Nursultan Nazarbayev received chairwoman of the board of directors of Almatykitap baspasy LLP (publishing house) Eleonora Batalov.

Nursultan Nazarbayev highlighted her contribution to the development of the country’s publishing. He also added that Almatykitap publishes interesting and good books.

Batalova, in her turn thanked Nursultan Nazarbayev for his merits to build...

Over 10 months of 2019, the value of pension contributions to the UAPF amounted to 799.7 billion tenge, with an increase by 16.1% compared to the same period last year at 688.5 billion tenge. An increase is observed for all types of deposits.

One of the reasons for the increase in...

According to the results of three quarters, the volume of services rendered to Kazakhstanis in the field of sports and recreation organisation reached 152.4 billion tenge, against 148 billion tenge a year earlier. However, taking into account inflation, the IPO in the sector amounted to only 94.7%, which indicates a...

Schengen visa applications from Kazakh citizens have increased 26 percent in the last two years, reported Schengen Visa Info.

After a five-year low of 124,735 applications in 2016, Kazakh passport holders have increased the number to 157,608, the highest indicator in the last half-decade. According to the most recent Schengen Visa...

The third consolidated unit of Kazakh peacekeeping forces started its operations Nov. 27 as part in the United Nations Interim Forces in Lebanon, reported the Ministry of Defence press service. The company consists of 120 military personnel from regional commands and the country’s Air Assault Forces.

“The first and second rotation...

In October 2019, the volume of non-cash payments on cards used in the territory of Kazakhstan amounted to 1 512.6 billion tenge, an increase of 2.7 times compared to October last year and by 11.5% compared to September. The city of Almaty remains the absolute leader in the volume of...

Fitch Ratings affirmed ATFBank at a long-term issuer default rating (IDR) of B-. The outlook is stable. The opinion of Fitch Ratings analysts is based on the fact that ATFBank has “potentially smaller problems with the quality of assets in relation to capital”, as well as “significant reserves of junior...

Deputies of the Mazhilis of Parliament approved the ratification of the convention between Kazakhstan and Cyprus on avoiding double taxation and preventing tax evasion. Minister of Finance Alikhan Smailova presented this bill to the deputies of the Mazhilis.

According to him, the convention was concluded on the basis of the model...

AIFC investment resident candidates will be checked for the legal origin of the funds. According to the Minister of Finance Alikhan Smailov, the main criteria for refusal of residence for investors are determined by the legislation on migration.

"Anyone who wants to obtain a visa and investment residency status will have...

The AIFC exchange plans to achieve full self-sufficiency in the next three to five years. During the plenary session of the Mazhilis, deputy Sergei Simonov asked for clarification when it is planned to completely stop financing the AIFC from the budget.

To this, Minister of Finance Alikhan Smailov replied that 36...

The Kazakh government will add 40.8 billion tenge (US$105.5 million) to its budget expenditures for 2020-2022, made possible by redistributing budget programme expenses, said Minister of National Economy Ruslan Dalenov in introducing the draft budget during the Senate plenary session.

“Expenses increased by 40.8 billion tenge (US$105.5 million), including 15 billion...

Large Russian and other CIS businesses taking loans from the country’s biggest bank Sberbank, which also holds a leading position in Kazakhstan, will be offered a new loan scheme next year, under which the lender could gain decision-making powers in the companies.

Sberbank announced Tuesday it will introduce a new “golden share”...

The US dollar held firm above a one-month low against its rivals on Wednesday as uncertainty about the progress of trade talks between the United States and China fuelled demand for the greenback.

The dollar had come under some pressure this week as some decent eurozone data and surprisingly strong China...

At the meeting of the board of directors of JS Kazakh Invest National Company chaired by the Prime Minister Askar Mamin, the results of the company’s work for 11 months of this year were considered

Currently, with the assistance of Kazakh Invest, 228 investment projects with a total volume of about...

In 1991, hydrocarbon companies received 4.5 million tonnes of gas condensate. In 1994, this figure decreased 2.6 times to 1.7 million tonnes.

The enterprises managed to restore the previous volumes only in 2000, when 4.6 million tonnes of gas were received.

Four years later, this figure almost doubled to 8.8 million tonnes.

In...

In April-May 2019, an emergency occurred in the pipeline system of Transneft Pdue to the presence of high concentrations of organochlorine compounds in the transported oil, which led to the shipment of substandard oil for Kazakhstan's shippers to tankers in the port of Ust-Luga.

KazTransOil as the national operator of Kazakhstan...

This year marks ten years since the start of operation of the Kenkiyak-Kumkol oil pipeline. A 794.2 km long oil transportation route was built as part of the Kazakhstan-China strategic pipeline project.

It provides for the diversification of domestic oil transportation directions.

At the first stage of the Kazakhstan-China project, the Atasu-Alashankou...

On December 1, 2019, commercial accounting of Kazakhstani oil began for export transportation via the Uzen-Atyrau-Samara trunk pipeline of KazTransOil according to the system for measuring the quantity and quality indicators of oil (SICN) of the 1235 km oil pipeline Uzen - Atyrau - Samara ”, located on the territory...

The CASPIBITUM Joint Venture (JV) plant has begun supplying bitumen to Uzbekistan. The amount of exported product amounted to ten thousand tonnes.

- The first export of road bitumen was sent to Uzbekistan in 2017 in the amount of 650 tonnes. Now, after providing the domestic market, the export of products...

From January 1, 2020, excise taxes per liter of gasoline can increase by 10 tenge in Kazakhstan. At the same time, the Ministry of National Economy does not expect a sharp increase in prices after increasing the excise tax on gasoline. Meanwhile, experts expressed their opinion on the products of...

Despite the Druzhba pipeline’s contamination fiasco not long ago, it did not prevent Russia’s Transneft oil transportation company from extending an agreement with a key transit country, Ukraine, through which about 14 mln tonnes of oil are delivered per year. Supplies include portions from Kazakhstan, Azerbaijan and Turkmenistan.

The terms of...

The head of Lukoil, Vagit Alekperov, has said in an interview with TV station Rossiya-24 that it would not be expedient to deepen global oil production cuts in the winter season, especially for the country.

Alekperov, who is a known opponent of ongoing production cuts agreed between Russia and OPEC, had his comments, recorded last week, aired on Tuesday,...

Oil gained on Wednesday ahead of an expected extension to production curbs by OPEC and its allies, with further support from industry data showing a larger than forecast drop in U.S. crude stockpiles. Brent crude futures were up $1.04, or 1.71%, at $61.86 a barrel by 1320 GMT. U.S. West...

Prompt British wholesale gas prices fell sharply on Wednesday morning, with the UK gas system oversupplied and rising temperatures expected to reduce demand.

The within-day contract was down 2.90 pence at 34.00 p/therm by 1048 GMT.

The day-ahead contract was down 3.33 pence at 34.25 p/therm.

UK gas system was 25.1 million cubic...

Gold mining company Altynalmas acquired a 54.2417% stake in Mining and Metallurgical Concern Kazakhaltyn, this is stated in a message posted on the Kazakhstan Stock Exchange website. AK Altinalmas (Almaty), whose shares are on the official list of the Kazakhstan Stock Exchange (KASE), informed KASE that since November 29, 2019...

Gold steadied on Wednesday, hovering near a one-month high as investors awaited clarity on U.S.-China trade talks, while palladium soared to a record high on scarce supply.

Spot gold was little changed at $1,477.65 an ounce at 1250 GMT, having touched its highest since Nov. 7 at $1,484, while U.S. gold...

Copper rose on Wednesday on reports of progress towards a phase one deal in U.S.-China trade negotiations but expectations that a near-term agreement will not be struck quickly kept a lid on gains.

Bloomberg reported that the United States and China were moving closer to agreeing on the amount of tariffs...

National Atomic Company Kazatomprom JSC (hereinafter referred to as the Company or NAC Kazatomprom JSC) has announced today the results of the absentee voting on each key issue of the agenda of the extraordinary General Meeting of Shareholders (EGM), summed up on December 4, 2019 at 12:00 local time (GMT+6).

At the time of the EGM, the total number of outstanding shares was 259,356,608. According to the list of shareholders compiled by the Central Securities Depository JSC, the total number of voting shares as of October 18, 2019 was 228,003,891. The shareholders and their authorized representatives holding a total of 225,688,310 ordinary shares, which is 98.98% of the Company’s total number of voting shares, took part in the voting. Shareholders voted and made decisions on each key issue included in the EGM agenda.

Appointment of the audit company to conduct an audit of NAC Kazatomprom JSC 

Following the results of the corporate procedures for appointment of the external auditor for the Company, the shareholders decided to approve PricewaterhouseCoopers LLP (PwC) as an audit company to audit the consolidated and separate financial statements of NAC Kazatomprom JSC for 2020, 2021 and 2022 according to the International Financial Reporting Standards.

Peported by the press service of Kazatomprom.

JLG has appointed Riwal as its distributor for Kazakhstan. As such it will be responsible for all sales, marketing, training and after sales service for the full range of JLG aerial work platforms to customers such as rental companies and contractors in the construction, oil & gas, manufacturing and logistics...

The production of chocolate and confectionery from it and sugar in January-October 2019 amounted to 81.2 thousand tonnes - 6.3% less than the same period last year. The decline in production is observed for the second year in a row: in January – October 2018, the volume decreased immediately by...

Prices for food products in January-November of this year increased by 8.4%, non-food - by 4.3%, and for paid services - by 0.4%, the Statistical Committee of the Ministry of Economy and Trade said on Tuesday, December 3.

From the beginning of this year (November 2019 to December 2018), price increases...

Tatarstan since the beginning of the year exported more than 170 thousand tonnes of grain products. According to the correspondent, referring to the data of the regional Office of Rosselkhoznadzor, including sent fourteen thousand tonnes of grain, legumes, oilseeds and industrial crops, and more than 156 thousand tonnes of processed...

Kazakhstan currently has import dependence on six types of products - it is poultry, sausages, cheeses and cottage cheese, apples, sugar and fish.

According to the head of the Ministry of Agriculture, Saparkhan Omarov, at the Government meeting, import dependence today totals $505 million.

In particular, the country imports 191.6 thousand tonnes...

At a government session chaired by Prime Minister Askar Mamin, Minister of Agriculture Saparkhan Omarov reported on new approaches to state support for the agro-industrial complex. As Omarov noted, at present there are a number of problems in the sector that hinder the development of the agricultural sector of Kazakhstan....

For the third consecutive week, Russian wheat prices, which represent a benchmark for wheat from Kazakhstan, recorded a rise last week, driven by higher demand from exporters and domestic processors, which offset rising supply from farmers.

Some 12.5% Russian wheat prices for December delivery were up $0.50 to $208.5 per ton...

Chicago soybean futures edged higher on Wednesday as investors took a more hopeful view on chances for a U.S.-Chinese trade agreement, while wheat also firmed after a two-day slide. Corn was little changed as traders continued to monitor weather-delayed U.S. harvesting. Broadly favourable crop conditions in South America were continuing...

LOT Polish Airlines will increase the number of flights from Warsaw to Nur Sultan from 4 to 7 flights a week from the summer season of 2020. In 2020, LOT Polish Airlines will open a regular flight to Almaty. The plans of the Polish airline also flights to Shymkent.

“Under the“...

Within the framework of the 12th event on negotiations on air communications (ICAN 2019), held under the auspices of the International Civil Aviation Organization (ICAO), the Kazakh delegation held talks with the Finnish aviation authorities, Kazpravda.kz reports with reference to the press service of the MIID of the Republic of...

Air Astana completed its first independent C-check, at its base at Almaty Airport in November 2019. An Airbus A320neo aircraft, registration P4-KBH was selected for this C-check. Air Astana received certification from the European Aviation Safety Agency (EASA) in October to perform this advanced level of maintenance. The certificate allows...

Russia’s services sector declined slightly in November from a one-year high reached a month earlier but remained strong overall this year, supported by a rise in new orders, IHS Markit‘s purchasing managers index (PMI) showed on Wednesday.

The indicator fell to 55.6 in November, from 55.8 in October, but remained well above the 50 mark that...

In January-October of 2019, all types of agricultural organizations of the Russian Federation reduced the selling volumes of grain crops by 11.5% in comparison with the figures in the same period last year — to 48.1 mln tonnes, reported the Federal State Statistics Service (Rosstat) on December 3.

In particular, in...

The Russian rouble strengthened on Wednesday after the finance ministry announced lower than forecast daily purchases of foreign currency for the month ahead.

The finance ministry said it would buy 9.3 billion roubles ($146 million) worth of foreign currency between Dec. 6 and Jan. 14, down from 11.4 billion roubles the...

Shanghai stocks ended lower on Wednesday, as hopes of a quick initial trade deal were dented following U.S. President Donald Trump’s remarks, but a series of recent upbeat data and surveys pointing to pick-ups in the Chinese economy helped check losses.

The blue-chip CSI300 index was unchanged at 3,849.82, while the...

The latest regulation on net capital management of commercial banks' wealth management subsidiaries encourages the subsidiaries to invest in standard and high-grade assets, operate in a prudent manner, and avoid expanding business blindly, analysts said.

The China Banking and Insurance Regulatory Commission has fixed the net capital threshold for commercial lenders'...

Date: December 05, 2019; Source: Bloomberg.com

Energy

Precious and Industrial Metals

Agriculture

Date: December 05, 2019; Source: the National Bank of Kazakhstan