Issue 3966 - 25.05.2022
25.05.2022

President addresses World Economic Forum

On the sidelines of the World Economic Forum, currently taking place in Davos, Switzerland, Kazakhstan’s President Kassym-Jomart Tokayev made a video address to a roundtable organized by the Astana International Financial Centre.

In his address, the Head of State focused on the pressing issues of the global agenda.

According to President Tokayev, the COVID-19 pandemic and the situation in Ukraine have fragmented and regionalized the global economy, which now faces a new geopolitical stress test on the Eurasian continent. The President spoke about the measures taken by Kazakhstan to improve the healthcare system in the context of tackling the consequences of the pandemic, as well as to support small and medium-sized enterprises and infrastructure projects.

In addition, Kassym-Jomart Tokayev informed the forum participants in detail about the ongoing large-scale political and economic reforms and preparations for the upcoming national referendum on amendments and additions to the Constitution. The Head of State noted that Kazakhstan is committed to environmental, social, and corporate governance (ESG) goals. He stated that the country remains a reliable partner in ensuring continuous supply chains of goods, raw materials and agricultural products to global markets.

«Growing a green economy, promoting energy efficiency and driving the renewable energy sector will be priorities of our Low-Carbon Development Strategy which will provide the optimal pathway to net zero by 2060,» the President of Kazakhstan said.

In conclusion, Kassym-Jomart Tokayev underlined Kazakhstan's commitment to its international obligations and universal principles of human rights and the rule of law.

The roundtable was attended by representatives of major global investment companies, the non-profit sector, and international media.

By Kazinform

Kazakhstan General

25.05.2022

Head of State received chairman of the Anti-Corruption Agency

Head of State Kassym-Jomart Tokayev received chairman of the Anti-Corruption Agency Olzhas Bektenov. The latter reported on the anti-corruption measures taken countrywide.

He stated that for the past five months over 1,000 corruption-related crimes recorded in Kazakhstan. Over 600 officials were convicted of corruption charges. Bektenov also reported on the President’s...

Head of State Kassym-Jomart Tokayev received chairman of the Anti-Corruption Agency Olzhas Bektenov. The latter reported on the anti-corruption measures taken countrywide.

He stated that for the past five months over 1,000 corruption-related crimes recorded in Kazakhstan. Over 600 officials were convicted of corruption charges. Bektenov also reported on the President’s...

25.05.2022

Kazakhstan redefines tasks of National Security Committee

Head of State Kassym-Jomart Tokayev received Chairman of the National Security Committee Yermek Sagimbayev. Tokayev heard a report on the main outcomes of the work of the Committee for the current month, tasks for the upcoming period, and measures to realize the Decree on the National Security Committee's reformation.

Sagimbayev briefed...

Head of State Kassym-Jomart Tokayev received Chairman of the National Security Committee Yermek Sagimbayev. Tokayev heard a report on the main outcomes of the work of the Committee for the current month, tasks for the upcoming period, and measures to realize the Decree on the National Security Committee's reformation.

Sagimbayev briefed...

25.05.2022

3 out of 10 Kazakhstani baby boomers born in large families

The years of the pandemic, which closed the Kazakhs at home, influenced the explosive growth in the birth rate. Kazakhstan's baby boom began in 2020, during which 426.8 thousand babies were born in the country. However, 2021 also broke this record: the number of newborns reached 446.5 thousand children, plus...

The years of the pandemic, which closed the Kazakhs at home, influenced the explosive growth in the birth rate. Kazakhstan's baby boom began in 2020, during which 426.8 thousand babies were born in the country. However, 2021 also broke this record: the number of newborns reached 446.5 thousand children, plus...

25.05.2022

13% of couples in Kazakhstan who decide to divorce have been married for more than 20 years

In the first quarter of this year, according to the data of the Civil Registry Office (excluding court decisions on divorce), the number of registered divorces amounted to 4.1 thousand, having decreased by 10.3% on-year. In villages, the number of divorces decreased by 27.5%, to 721, in cities by 5.5%,...

In the first quarter of this year, according to the data of the Civil Registry Office (excluding court decisions on divorce), the number of registered divorces amounted to 4.1 thousand, having decreased by 10.3% on-year. In villages, the number of divorces decreased by 27.5%, to 721, in cities by 5.5%,...

25.05.2022

Kazakhstan boosts housing and communal services

In 2010, the Program for the Modernisation of Housing and Communal Services until 2020 was adopted. It expired in April 2011. The program was too short lived to record any results. But she had an ideological follower the Housing and Utilities Modernisation Program for 2011-2020. Later, other programs were proposed,...

In 2010, the Program for the Modernisation of Housing and Communal Services until 2020 was adopted. It expired in April 2011. The program was too short lived to record any results. But she had an ideological follower the Housing and Utilities Modernisation Program for 2011-2020. Later, other programs were proposed,...

Finance and Investment

25.05.2022

Almost half of foreign direct investment in Kazakhstan falls on EU countries and United Kingdom

The gross inflow of foreign direct investment (FDI) into Kazakhstan from the countries of the European Union (EU) and the UK in 2021 reached almost 11.2 billion US dollar by 23.8% more than in 2020 and by 0.9 % more compared to the pre-corona crisis 2019. In 2019, the share...

The gross inflow of foreign direct investment (FDI) into Kazakhstan from the countries of the European Union (EU) and the UK in 2021 reached almost 11.2 billion US dollar by 23.8% more than in 2020 and by 0.9 % more compared to the pre-corona crisis 2019. In 2019, the share...

25.05.2022

Kazakh Tenge may further strengthen against US dollar

The national currency may strengthen to 400 tenge per $1 if the rouble continues to rise in price. This forecast was shared by the CEO of AERC Beta Galymzhan Aitkazin. The analyst noted that on the eve of the Ministry of Finance of Russia reduced the requirement for the mandatory...

The national currency may strengthen to 400 tenge per $1 if the rouble continues to rise in price. This forecast was shared by the CEO of AERC Beta Galymzhan Aitkazin. The analyst noted that on the eve of the Ministry of Finance of Russia reduced the requirement for the mandatory...

25.05.2022

Agency for regulation and development of financial market of Kazakhstan tells about blocked money of Sberbank, Alfa and VTB

9.2 billion tenge of subsidiaries of Russian banks are blocked on accounts in foreign correspondent banks. This was reported by the Agency for the regulation and development of the financial market.

"According to the information received by the ARDFM from the subsidiaries of Russian Sberbank, Alfa-Bank and VTB Bank in Kazakhstan,...

9.2 billion tenge of subsidiaries of Russian banks are blocked on accounts in foreign correspondent banks. This was reported by the Agency for the regulation and development of the financial market.

"According to the information received by the ARDFM from the subsidiaries of Russian Sberbank, Alfa-Bank and VTB Bank in Kazakhstan,...

25.05.2022

Kazakhstan opposes introducing additional 5% contribution to UAPF

The introduction of additional contributions in the amount of 5% to the UAPF may increase the number of informally employed. Such a statement was made in the Atameken NCE. The National Chamber recalled that from 2023, employers will transfer to the pension fund a contribution in the amount of 5%...

The introduction of additional contributions in the amount of 5% to the UAPF may increase the number of informally employed. Such a statement was made in the Atameken NCE. The National Chamber recalled that from 2023, employers will transfer to the pension fund a contribution in the amount of 5%...

25.05.2022

Kazakhstan wants mortgages to be cheaper

Kazakhstan may start subsidising mortgages. This was reported in the Ministry of Industry and Infrastructure Development. The department explained that the end of the preferential mortgage program is expected today. Pension withdrawals are also being reduced. In this regard, as an alternative, the possibility of introducing mortgage subsidies is being...

Kazakhstan may start subsidising mortgages. This was reported in the Ministry of Industry and Infrastructure Development. The department explained that the end of the preferential mortgage program is expected today. Pension withdrawals are also being reduced. In this regard, as an alternative, the possibility of introducing mortgage subsidies is being...

25.05.2022

Atameken NCE criticises Tax Code of Kazakhstan

The current tax legislation in Kazakhstan does not allow businesses to grow and consolidate. This opinion was voiced by Deputy Chairman of the Board of the Atameken NCE Yerbol Ustemirov.

According to him, businessmen at a meeting with the country's President Kassym-Jomart Tokayev raised the issue of fiscal policy stability. The...

The current tax legislation in Kazakhstan does not allow businesses to grow and consolidate. This opinion was voiced by Deputy Chairman of the Board of the Atameken NCE Yerbol Ustemirov.

According to him, businessmen at a meeting with the country's President Kassym-Jomart Tokayev raised the issue of fiscal policy stability. The...

25.05.2022

Tenge, dollar, rouble: what currency best to keep money in crisis

Chief Analyst at Halyk Global Markets Amir Aktanov noted that currently tenge deposits can offer high returns. In addition, taking into account high oil prices (more than $113 per barrel), the expert does not see any serious prerequisites for the depreciation of the national currency above the budgeted level of...

Chief Analyst at Halyk Global Markets Amir Aktanov noted that currently tenge deposits can offer high returns. In addition, taking into account high oil prices (more than $113 per barrel), the expert does not see any serious prerequisites for the depreciation of the national currency above the budgeted level of...

25.05.2022

Kazakh tenge settles at 412 per US dollar

The weighted average dollar exchange rate on Kazakhstan Stock Exchange (KASE) on May 24, 2022 at 17:00 amounted to KZT416.79. Compared to the data at 17:00 on May 23 (424.47 tenge for 1 dollar), the national currency against the dollar strengthened by 7.68 tenge. According to KASE, the minimum rate...

The weighted average dollar exchange rate on Kazakhstan Stock Exchange (KASE) on May 24, 2022 at 17:00 amounted to KZT416.79. Compared to the data at 17:00 on May 23 (424.47 tenge for 1 dollar), the national currency against the dollar strengthened by 7.68 tenge. According to KASE, the minimum rate...

25.05.2022

Greenback extends downfall as paper markets pick up

The U.S. dollar index hit nearly a one-month low on Tuesday after European Central Bank President Christine Lagarde said euro zone interest rates will likely be in positive territory by the end of the third quarter, giving the euro a boost.

Lagarde's comments implied an increase of at least 50 basis...

The U.S. dollar index hit nearly a one-month low on Tuesday after European Central Bank President Christine Lagarde said euro zone interest rates will likely be in positive territory by the end of the third quarter, giving the euro a boost.

Lagarde's comments implied an increase of at least 50 basis...

25.05.2022

Bulls cautiously hold on to stock markets

Europe's main equity indices buckled near the end of trading as selling on Wall Street picked up, especially in the technology space.

"It should be clear by now, even to the most enthusiastic dip buyer, that markets are not going to bounce any time soon," said IG chief market analyst Chris Beauchamp.

"Last week's...

Europe's main equity indices buckled near the end of trading as selling on Wall Street picked up, especially in the technology space.

"It should be clear by now, even to the most enthusiastic dip buyer, that markets are not going to bounce any time soon," said IG chief market analyst Chris Beauchamp.

"Last week's...

Oil and Gas Sector

25.05.2022

Oil output at Kazakhstan's Kashagan field cut down to half

Oil output at Kazakhstan's giant offshore Kashagan oilfield has almost halved since May 20 to 220,000 barrels per day (bpd) from more than 400,000 bpd in early May due to maintenance, two industry sources said on Tuesday.

The oilfield is undergoing planned maintenance from May 19 until Aug. 3, and production...

Oil output at Kazakhstan's giant offshore Kashagan oilfield has almost halved since May 20 to 220,000 barrels per day (bpd) from more than 400,000 bpd in early May due to maintenance, two industry sources said on Tuesday.

The oilfield is undergoing planned maintenance from May 19 until Aug. 3, and production...

25.05.2022

Subsoil users receive new preferences in Kazakhstan

Prime Minister Alikhan Smailov has instructed to work out a final package of preferences for gas projects by June 15. According to the head of government, the growing needs of the population and industry require sufficient volumes of gas. Therefore, expanding the resource base, including large-scale exploration work, should be...

Prime Minister Alikhan Smailov has instructed to work out a final package of preferences for gas projects by June 15. According to the head of government, the growing needs of the population and industry require sufficient volumes of gas. Therefore, expanding the resource base, including large-scale exploration work, should be...

25.05.2022

Kazakhstan plans to increase level of gasification to 58% in 2022

At the end of 2021, the overall level of gasification of the country amounted to 57.67% of the total population (11 million people received access to gas). Energy Minister Bolat Akchulakov spoke about this at a government meeting, citing the press service of the department.

He recalled that the gasification of...

At the end of 2021, the overall level of gasification of the country amounted to 57.67% of the total population (11 million people received access to gas). Energy Minister Bolat Akchulakov spoke about this at a government meeting, citing the press service of the department.

He recalled that the gasification of...

25.05.2022

Kazakh oil province to build 5 new medical facilities

This year the city of Atyrau and the region of the same name, which locate Kazakhstan’s main upstream oil resources’ exploitation, will build five more medical facilities.

Construction of 25-seat outpatient clinics in Kokarna and Kara depo city districts, and a 75-bed infectious diseases hospital in Kulsary continues. Construction of a...

This year the city of Atyrau and the region of the same name, which locate Kazakhstan’s main upstream oil resources’ exploitation, will build five more medical facilities.

Construction of 25-seat outpatient clinics in Kokarna and Kara depo city districts, and a 75-bed infectious diseases hospital in Kulsary continues. Construction of a...

25.05.2022

Nostrum quarterly revenue climbs on higher oil price

Nostrum Oil & Gas PLC, an Amsterdam-headquartered oil and gas company with operations in Kazakhstan, posted higher revenue in the quarter ended March 31 than a year ago. Revenue rose to USD60.2 million from USD46.2 million a year ago.

Daily sales volumes averaged 14,059 barrels of oil equivalent per barrel, down...

Nostrum Oil & Gas PLC, an Amsterdam-headquartered oil and gas company with operations in Kazakhstan, posted higher revenue in the quarter ended March 31 than a year ago. Revenue rose to USD60.2 million from USD46.2 million a year ago.

Daily sales volumes averaged 14,059 barrels of oil equivalent per barrel, down...

25.05.2022

Saudi energy minister says Russia will remain a part of OPEC+ group

Saudi Arabia says it will still include Russia in the OPEC+ group and intends to continue to work with Russia and other non-OPEC oil-producing states to balance global energy markets, despite Western sanctions on the trade in Russian crude.

Prince Abdulaziz bin Salman, the kingdom’s energy minister, told the Financial Times...

Saudi Arabia says it will still include Russia in the OPEC+ group and intends to continue to work with Russia and other non-OPEC oil-producing states to balance global energy markets, despite Western sanctions on the trade in Russian crude.

Prince Abdulaziz bin Salman, the kingdom’s energy minister, told the Financial Times...

25.05.2022

Azerbaijan exports 9.4m tons of oil from January to April

Azerbaijan has exported 9.4 million tons of oil worth $3.6 billion from January to April 2022, Azernews reports, citing the State Customs Committee.

In the first four months of the year, Italy was the main oil importer from Azerbaijan, accounting for 4.3 million tons of oil worth $3 billion.

The top five...

Azerbaijan has exported 9.4 million tons of oil worth $3.6 billion from January to April 2022, Azernews reports, citing the State Customs Committee.

In the first four months of the year, Italy was the main oil importer from Azerbaijan, accounting for 4.3 million tons of oil worth $3 billion.

The top five...

25.05.2022

Brent marginally gains on stringent supply outlook

Oil edged higher on Tuesday, recovering earlier losses, as tight global supply and an expected pick-up in demand during the U.S. summer driving season balanced concerns over a possible recession and China's COVID-19 curbs.

In a step that analysts say will further tighten the market, the European Union is moving closer...

Oil edged higher on Tuesday, recovering earlier losses, as tight global supply and an expected pick-up in demand during the U.S. summer driving season balanced concerns over a possible recession and China's COVID-19 curbs.

In a step that analysts say will further tighten the market, the European Union is moving closer...

25.05.2022

EU natural gas benchmark on the rise as UK counterpart drops

British wholesale gas prices fell on Tuesday morning as the end of some maintenance lifted flows of Norwegian gas and more wind is set to lower demand in the power sector, while Dutch prices rose from 3-month lows.

British gas for immediate delivery fell by 15 pence to 119 pence per therm...

British wholesale gas prices fell on Tuesday morning as the end of some maintenance lifted flows of Norwegian gas and more wind is set to lower demand in the power sector, while Dutch prices rose from 3-month lows.

British gas for immediate delivery fell by 15 pence to 119 pence per therm...

Metals and Minerals

25.05.2022

Announcement: Kazatomprom Update Regarding the Privatization of Some of its Assets

JSC National Atomic Company “Kazatomprom” (“Kazatomprom” or “the Company”) informs that the list of companies subject to privatization included in the draft Decree of the Government of the Republic of Kazakhstan ("RK") "On amendments and additions to the Decree of the Government of the Republic of Kazakhstan dated 29 December...

JSC National Atomic Company “Kazatomprom” (“Kazatomprom” or “the Company”) informs that the list of companies subject to privatization included in the draft Decree of the Government of the Republic of Kazakhstan ("RK") "On amendments and additions to the Decree of the Government of the Republic of Kazakhstan dated 29 December...

25.05.2022

Kazatomprom meets with Marubeni Corporation

On May 20, Mazhit Sharipov, Chief Executive Officer and Chair of the Management Board, NAC Kazatomprom JSC met in Nur-Sultan with the representative of the consortium of Japanese partners – Mr. Tadanori Tobita, President and CEO, Marubeni Utility Services, Ltd.

During the meeting, the parties discussed the matters relating to the...

On May 20, Mazhit Sharipov, Chief Executive Officer and Chair of the Management Board, NAC Kazatomprom JSC met in Nur-Sultan with the representative of the consortium of Japanese partners – Mr. Tadanori Tobita, President and CEO, Marubeni Utility Services, Ltd.

During the meeting, the parties discussed the matters relating to the...

25.05.2022

Glencore prepares to pay up to $1.5 bln to settle U.S., UK, Brazil probes

Glencore Plc, which among other activities owns and exploits Kazakhstan’s major mining combine Kazzinc, said on Tuesday it anticipates paying up to $1.5 billion to settle accusations of bribery and market manipulation by U.S., British and Brazilian authorities, and three of its units agreed to enter guilty pleas.

The miner and commodity trading...

Glencore Plc, which among other activities owns and exploits Kazakhstan’s major mining combine Kazzinc, said on Tuesday it anticipates paying up to $1.5 billion to settle accusations of bribery and market manipulation by U.S., British and Brazilian authorities, and three of its units agreed to enter guilty pleas.

The miner and commodity trading...

25.05.2022

Bullion keeps riding high on ailing greenback

Gold prices extended gains for a fifth straight session on Tuesday, hovering near a two-week high hit in the previous session, as a sell-off in dollar and stock markets bolstered bullion's safe-haven appeal.

Spot gold was up 0.2% at $1,856.03 per ounce, as of 1013 GMT, after hitting its highest since...

Gold prices extended gains for a fifth straight session on Tuesday, hovering near a two-week high hit in the previous session, as a sell-off in dollar and stock markets bolstered bullion's safe-haven appeal.

Spot gold was up 0.2% at $1,856.03 per ounce, as of 1013 GMT, after hitting its highest since...

25.05.2022

China stimulus, supply worries fire up iron ore prices

Iron ore prices cheered China’s decision to cut its benchmark interest rate for mortgages by an unexpectedly wide margin, and there are several factors that suggest a renewed rally is on the cards.

Spot 62% iron ore for delivery to north China, as assessed by commodity price reporting agency Argus, jumped...

Iron ore prices cheered China’s decision to cut its benchmark interest rate for mortgages by an unexpectedly wide margin, and there are several factors that suggest a renewed rally is on the cards.

Spot 62% iron ore for delivery to north China, as assessed by commodity price reporting agency Argus, jumped...

25.05.2022

Non-ferrous base metals take blow on negative economic sentiments

Copper prices fell on Tuesday, pressured by fears of slowing global economic growth that also pulled down equities and oil, though a weakening dollar helped to limit losses.

Benchmark copper on the London Metal Exchange (LME) was down 1% at $9,451 a tonne by 0926 GMT.

Prices hit a seven-month low of $8,938...

Copper prices fell on Tuesday, pressured by fears of slowing global economic growth that also pulled down equities and oil, though a weakening dollar helped to limit losses.

Benchmark copper on the London Metal Exchange (LME) was down 1% at $9,451 a tonne by 0926 GMT.

Prices hit a seven-month low of $8,938...

Energy Industry

25.05.2022

Nuclear power plant in Kazakhstan may appear in 2035

The preliminary terms for the construction of nuclear power plants in Kazakhstan have become known. According to Timur Zhantikin, director general of Kazakhstan Nuclear Power Plants, if Kazakhstan makes a decision on the supplier and develops a feasibility study in 2023, then commissioning of the nuclear power plant is possible...

The preliminary terms for the construction of nuclear power plants in Kazakhstan have become known. According to Timur Zhantikin, director general of Kazakhstan Nuclear Power Plants, if Kazakhstan makes a decision on the supplier and develops a feasibility study in 2023, then commissioning of the nuclear power plant is possible...

Manufacturing industry

25.05.2022

Kazakhstan needs hundreds of machine-building plants

Chairman of the People's Party of Kazakhstan Yermukhamet Yertysbayev visited the existing and under construction machine-building plants in the city of Kostanay, where he held meetings with workers.

The head of the NPC noted that in every region, in every region there should be enterprises with highly qualified jobs. Because the...

Chairman of the People's Party of Kazakhstan Yermukhamet Yertysbayev visited the existing and under construction machine-building plants in the city of Kostanay, where he held meetings with workers.

The head of the NPC noted that in every region, in every region there should be enterprises with highly qualified jobs. Because the...

25.05.2022

Ministry of Ecology predicts collection on waste payments for 690 billion tenge by end of year

The Ministry of Ecology plans to completely revise the entire investment policy of Zhasyl Damu and is ready to consider proposals for the abolition of the waste collection. On the sidelines of the government, Minister of Ecology, Geology and Natural Resources Serikkali Brekeshev answered journalists' questions about the waste collection.

"Of...

The Ministry of Ecology plans to completely revise the entire investment policy of Zhasyl Damu and is ready to consider proposals for the abolition of the waste collection. On the sidelines of the government, Minister of Ecology, Geology and Natural Resources Serikkali Brekeshev answered journalists' questions about the waste collection.

"Of...

Trade and Consumer Goods

25.05.2022

Kazakhstan buys tomatoes and cabbage from Turkmenistan and sells wheat and smartphones

In January-March 2022, Kazakhstan's exports to Turkmenistan amounted to $89 million with an increase of 3.4%. The list includes wheat, smartphones, flour, iron bars, asbestos, televisions, etc.

Imports also increased by 1.2%, to $15 million. Tomatoes, cabbage, lubricating oils, bed linen, synthetic fabrics, fertilizers, packing bags and packages were imported from...

In January-March 2022, Kazakhstan's exports to Turkmenistan amounted to $89 million with an increase of 3.4%. The list includes wheat, smartphones, flour, iron bars, asbestos, televisions, etc.

Imports also increased by 1.2%, to $15 million. Tomatoes, cabbage, lubricating oils, bed linen, synthetic fabrics, fertilizers, packing bags and packages were imported from...

25.05.2022

Among EAEU countries, Kazakhstan ranks second in terms of inflation growth in April

The highest inflation among the EAEU countries in April was observed in Armenia at 2.3%, in Kazakhstan and Kyrgyzstan at 2% each, in Russia and Belarus at 1.6% each. This is reported by the Bureau of National Statistics of Kazakhstan.

“Over the year (in April 2021 compared to April 2022), prices...

The highest inflation among the EAEU countries in April was observed in Armenia at 2.3%, in Kazakhstan and Kyrgyzstan at 2% each, in Russia and Belarus at 1.6% each. This is reported by the Bureau of National Statistics of Kazakhstan.

“Over the year (in April 2021 compared to April 2022), prices...

Agriculture

25.05.2022

Kazakhstan’s deep south regions’ water supplies streamlined

The situation with water management is stable in the southern regions of Kazakhstan, Minister of Ecology, Geology, and Natural Resources of Kazakhstan Serikkali Brekeshyev said.

Reconstruction of 259 hydro-technical installations in the basins of transboundary rivers is carried out in Kazakhstan. According to the Ecology Ministry, mechanical cleaning of 535km of...

The situation with water management is stable in the southern regions of Kazakhstan, Minister of Ecology, Geology, and Natural Resources of Kazakhstan Serikkali Brekeshyev said.

Reconstruction of 259 hydro-technical installations in the basins of transboundary rivers is carried out in Kazakhstan. According to the Ecology Ministry, mechanical cleaning of 535km of...

25.05.2022

Kazakhstan reduces area under crops of rice, cotton and onions

Of the total water intake, regular irrigation accounts for about 11.6 km3 of water, of which 11.3 km3 or 97% for 4 regions, including the Almaty, Zhambyl, Turkestan and Kyzylorda regions. Serikkali Brekeshev, Minister of Ecology, Geology and Natural Resources, spoke about this at a government meeting, citing the press service of...

Of the total water intake, regular irrigation accounts for about 11.6 km3 of water, of which 11.3 km3 or 97% for 4 regions, including the Almaty, Zhambyl, Turkestan and Kyzylorda regions. Serikkali Brekeshev, Minister of Ecology, Geology and Natural Resources, spoke about this at a government meeting, citing the press service of...

25.05.2022

Kazakhstan intends to limit export of sunflower oil until autumn

Kazakhstan plans to impose a restriction on the export of sunflower oil. The proposed oil export quota is 48 thousand tonnes for June-August 2022, according to the draft order of the Minister of Agriculture.

This applies to sunflower oil, refined or unrefined, raw and other, as well as mixed vegetable oils....

Kazakhstan plans to impose a restriction on the export of sunflower oil. The proposed oil export quota is 48 thousand tonnes for June-August 2022, according to the draft order of the Minister of Agriculture.

This applies to sunflower oil, refined or unrefined, raw and other, as well as mixed vegetable oils....

25.05.2022

Kazakh farmers pay for water in new way

In Kazakhstan, they want to introduce payment for farmers for the volume of irrigation water used, and not for water use per hectare of irrigated land. Prime Minister Alikhan Smailov instructed the Ministry of Ecology and Foreign Affairs to develop a clear position on water diplomacy and ensure its promotion...

In Kazakhstan, they want to introduce payment for farmers for the volume of irrigation water used, and not for water use per hectare of irrigated land. Prime Minister Alikhan Smailov instructed the Ministry of Ecology and Foreign Affairs to develop a clear position on water diplomacy and ensure its promotion...

25.05.2022

EU supports sustainable grazing and pasture management in Kazakhstan

On May 23, the kick-off conference to launch the EU-funded Project Jaylym Multi-actor partnerships and innovation at the service of economic and environmental sustainability of grazing activities in Enbekshi-Kazakh District» was held in the city of Esik of the Enbekshi-Kazakh District, the press and information team of the...

On May 23, the kick-off conference to launch the EU-funded Project Jaylym Multi-actor partnerships and innovation at the service of economic and environmental sustainability of grazing activities in Enbekshi-Kazakh District» was held in the city of Esik of the Enbekshi-Kazakh District, the press and information team of the EU Delegation to...

25.05.2022

US wheat benchmark further appreciates on US harvest pains

Chicago wheat futures extended gains on Tuesday as weekly U.S. crop data underscored harvest risks that could heighten supply tensions created by the war in Ukraine. U.S. corn edged lower as the United States Department of Agriculture's (USDA) weekly crop update showed planting advanced more quickly than expected last week,...

Chicago wheat futures extended gains on Tuesday as weekly U.S. crop data underscored harvest risks that could heighten supply tensions created by the war in Ukraine. U.S. corn edged lower as the United States Department of Agriculture's (USDA) weekly crop update showed planting advanced more quickly than expected last week,...

25.05.2022

Kazakhstan against Russia's proposal to limit grain exports from EAEU

Russia wants all countries of the Eurasian Economic Union to introduce quotas for the export of grain. According to the sources of the publication, at a meeting of the Eurasian Economic Commission on May 20, Russia insisted that all members of the EAEU introduce quotas and duties on grain exports...

Russia wants all countries of the Eurasian Economic Union to introduce quotas for the export of grain. According to the sources of the publication, at a meeting of the Eurasian Economic Commission on May 20, Russia insisted that all members of the EAEU introduce quotas and duties on grain exports...

Communications and Transportation

25.05.2022

Iran teams up with Kazakhstan on transnational railway

The heads of the railways of Iran and Kazakhstan signed a memorandum of understanding (MOU) to increase transportation cooperation and set preferential tariffs between the two countries in order to increase the transit of goods passing through Iran.

The MOU was signed on Monday during a meeting between a high-ranking delegation...

The heads of the railways of Iran and Kazakhstan signed a memorandum of understanding (MOU) to increase transportation cooperation and set preferential tariffs between the two countries in order to increase the transit of goods passing through Iran.

The MOU was signed on Monday during a meeting between a high-ranking delegation...

25.05.2022

Second phase of Dostyk TransTerminal launched

The launch of the second stage of the cargo transhipment terminal Dostyk TransTerminal in the direction of China Europe will unload the border railway junction on the border of Kazakhstan and China and double the cargo flow from 160 thousand to 320 thousand containers per year.

The first phase of the...

The launch of the second stage of the cargo transhipment terminal Dostyk TransTerminal in the direction of China Europe will unload the border railway junction on the border of Kazakhstan and China and double the cargo flow from 160 thousand to 320 thousand containers per year.

The first phase of the...

25.05.2022

Kazakhtelecom focuses on fixed wireless communication, 5G and development of Internet in villages

Chief Innovation Officer of Kazakhtelecom Nurlan Meirmanov took part in the forum Communication as a way to sustainable development, organised by the Affiliated Centre of the 4th Industrial Revolution of the World Economic Forum in Kazakhstan. International experts, representatives of ministries and departments, as well as telecom operators discussed the...

Chief Innovation Officer of Kazakhtelecom Nurlan Meirmanov took part in the forum Communication as a way to sustainable development, organised by the Affiliated Centre of the 4th Industrial Revolution of the World Economic Forum in Kazakhstan. International experts, representatives of ministries and departments, as well as telecom operators discussed the...

Real Estate and Construction

25.05.2022

Housing prices in Kazakhstan continue rising

The main reason for the significant increase in housing prices is associated with an increase in the cost of construction due to the rise in the cost of materials and work, developers assure. After monitoring, the Agency for the Protection and Development of Competition established many facts of unreasonable overpricing...

The main reason for the significant increase in housing prices is associated with an increase in the cost of construction due to the rise in the cost of materials and work, developers assure. After monitoring, the Agency for the Protection and Development of Competition established many facts of unreasonable overpricing...

Regional News

25.05.2022

Russia gets rid of new foreign direct investment

The Central Bank has published a fresh batch of data on foreign direct investment (FDI, includes equity participation, reinvestment of income and debt instruments) in Russia by country for 2021. Although in 2021, compared to 2013, the entire FDI inflow decreased by 45% (the volume of 2019 was exceeded by...

The Central Bank has published a fresh batch of data on foreign direct investment (FDI, includes equity participation, reinvestment of income and debt instruments) in Russia by country for 2021. Although in 2021, compared to 2013, the entire FDI inflow decreased by 45% (the volume of 2019 was exceeded by...

25.05.2022

Russia's Sberbank pays in roubles on dollar-denominated Eurobonds

Russian lender Sberbank on Tuesday said it had made a coupon payment on dollar-denominated subordinated Eurobonds in roubles at the central bank exchange rate.

The ability of Russia to service its debt is in focus as the country faces the prospect of sovereign default after Western capitals imposed sweeping sanctions in...

Russian lender Sberbank on Tuesday said it had made a coupon payment on dollar-denominated subordinated Eurobonds in roubles at the central bank exchange rate.

The ability of Russia to service its debt is in focus as the country faces the prospect of sovereign default after Western capitals imposed sweeping sanctions in...

25.05.2022

Russia attempts to balance rouble exchange rate

Russia’s authorities decided to soften the requirements for Russian exporters on the mandatory sale of foreign exchange earnings, reducing the threshold from 80% to 50%. This decision was made due to the stabilisation of the rouble exchange rate and a sufficient level of foreign currency liquidity on the domestic market,...

Russia’s authorities decided to soften the requirements for Russian exporters on the mandatory sale of foreign exchange earnings, reducing the threshold from 80% to 50%. This decision was made due to the stabilisation of the rouble exchange rate and a sufficient level of foreign currency liquidity on the domestic market,...

25.05.2022

Russian rouble firms past 57 to the dollar as stocks retreat

The Russian rouble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by export-focused companies selling foreign currency to pay taxes and shrugging off a slight easing of capital controls.

The rouble has firmed about 30% against the dollar this year despite a full-scale economic crisis...

The Russian rouble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by export-focused companies selling foreign currency to pay taxes and shrugging off a slight easing of capital controls.

The rouble has firmed about 30% against the dollar this year despite a full-scale economic crisis...

25.05.2022

Bug busting frenzy puts China stock markets down

China shares fell on Tuesday while Hong Kong's benchmark index also slumped, as stricter COVID-19 measures in the country's capital reignited worries over slowing growth despite Beijing's pledges of further economic support.

At the close of trade, Hong Kong's Hang Seng index was down 357.96 points or 1.75% at 20,112.10. The...

China shares fell on Tuesday while Hong Kong's benchmark index also slumped, as stricter COVID-19 measures in the country's capital reignited worries over slowing growth despite Beijing's pledges of further economic support.

At the close of trade, Hong Kong's Hang Seng index was down 357.96 points or 1.75% at 20,112.10. The...

25.05.2022

China steps up credit support to stabilise economy

Chinese authorities have pledged to increase credit issuance and enhance financial support for key businesses and fields.

Strengthened financial support will be given for micro, small and medium-sized enterprises, green development, scientific and technological innovation, energy supply, water conservancy and infrastructure, among others, according to a meeting jointly held by the...

Chinese authorities have pledged to increase credit issuance and enhance financial support for key businesses and fields.

Strengthened financial support will be given for micro, small and medium-sized enterprises, green development, scientific and technological innovation, energy supply, water conservancy and infrastructure, among others, according to a meeting jointly held by the...

Prices and Statistics

25.05.2022

Commodities

Date: May 25, 2022; Source: Bloomberg.com
...

Date: May 25, 2022; Source: Bloomberg.com

25.05.2022

Exchange Rates

Date: May 25, 2022; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 416.91
1 EURO EUR / KZT 446.47
1 RUSSIAN ROUBLE RUB / KZT 7.34
1 CHINESE YUAN CNY / KZT 62.53
1 KYRGYZIAN SOM KGS / KZT 5.24
1 GREAT BRITAIN POUND GBP / KZT 520.68
1 CANADIAN DOLLAR CAD / KZT 325.71
1 AUSTRALIAN DOLLAR AUD / KZT 294.84
 ...

Date: May 25, 2022; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

416.91

1 EURO

EUR / KZT

446.47

1 RUSSIAN ROUBLE

RUB / KZT

7.34

1 CHINESE YUAN

CNY / KZT

62.53

1 KYRGYZIAN SOM

KGS / KZT

5.24

1 GREAT BRITAIN POUND

GBP / KZT

520.68

1 CANADIAN DOLLAR

CAD / KZT

325.71

1 AUSTRALIAN DOLLAR

AUD / KZT

294.84