Issue 3194 - 20.03.2019
20.03.2019

President of Kazakhstan Nursultan Nazarbayev announces retirement

In an unexpected, unexplained flash move, Kazakhstan’s longstanding head of state Nursultan Nazarbayev on March 19 late in the day announced his decision to retire. "I have decided to end my duties as president," Nazarbayev said in a brief televised address on Tuesday without giving a reason for the decision.

"This year I will have held the highest post for 30 years. The people gave me the opportunity to be the first president of an independent Kazakhstan," he said. 

In line with the country's constitution, Kassym-Jomart Toqaev, the speaker of the country's upper parliament chamber will hold presidential authority for now, Nazarbayev said.

Nazabayev said he will continue as leader of the ruling Nur Otan party and will remain as chairman of the presidential Security Council, which could allow him to retain key powers.

"Dear Kazakhstanis, compatriots, comrades. Today I appeal to you, as I always did at the most important moments in the history of our state, which we built together. But my current address is special. I made a difficult decision for myself - to resign as the President of the Republic of Kazakhstan," Nursultan Nazarbayev said. He noted that he had been ruling the country for almost 30 years. "I was honoured to become the First President of independent Kazakhstan," said the Leader of the Nation.

“As the founder of the independent Kazakh state, I see my future task in ensuring the coming to power of a new generation of leaders who will continue the ongoing reforms,” he said in what he called a “special” address that was delivered in both Kazakh and Russian languages. “The issue of succession of power in Kazakhstan is resolved in the Constitution. In case the current President relinquishes the duties, his duties are transferred to the Chairman of the Senate until the end of the current term. Then, the election of a new President is held.”

Nursultan Nazarbayev had been born in 1942, to a family living in a village near Karaganda that earned its living in the city’s thriving metallurgy industry, and grew up to become a metal engineer. This opened the doors of the Communist Party, which he entered in 1962 while still a student.

Once high up the ladder, Nazerbayev became head of the Kazakh Cabinet of Ministers in 1984. He was known for his sceptism on all too drastic reforms in the Soviet Union but loyal to Gorbatchov and in particular a supporter of holding the Union together at whatever costs. In January 1986, he fell into a row with First Secretary Dinmukhamed Kunayev, and after the latter was topped following deadly riots in December the same year, took his place.

Nursultan Nazarbayev met his first challenge as Kazakhstan's top leader with the outbreak of a strike in the mines and processing facilities in the north. After having solved the dispute with negotiations and promises for improvement (some of which were indeed kept), he consolidated his position with the proclamation, on April 24, 1990, to add to the title of First Secretary the one of President, following Gorbachov's expample in the previous year.

After the events in Moscow, Nazarbayev took the opportunity, on December 16 the same year, to ask the Supreme Soviet of what was still called the Socialist Soviet Republic of Kazakhstan, to declare full independence and proclaim the establishment of the sovereign Republic of Kazakhstan with himself as provisional head of state.

In the country's first presidential election, held on 1 December, he appeared alone on the ballot and won 91.5% of the vote. An April 1995 referendum extended Nazarbayev's term until 2000. He was re-elected in January 1999 and again in December 2005 by an overwhelming majority of 91.15%. Two more elections followed in 2010 and 2015 with similar results.

Kazakhstan’s sovereign dollar bonds fell across the curve after President Nursultan Nazarbayev said on Tuesday he was resigning as the Central Asian nation’s leader after almost three decades in power.

The 2045 issue slipped as much as 1.2 cent to trade at 125.997 cents in the dollar, the biggest daily drop since end-November, Tradeweb data showed.

The London-listed shares of Kazakhstan's biggest bank, Halyk Bank, tumbled 5 percent on Tuesday after the country's President Nursultan Nazarbayev unexpectedly resigned after three decades in power.

Nazarbayev's second daughter Dinara and her husband Timur Kulibayev are also the controlling shareholders of Halyk bank.

By Charles van der Leeuw for Newsline.

Quotes by Al-Jazeera, Kazinform, the Astana Times, Reuters, Nasdaq.

Note From the Editor

20.03.2019

Happy Nauryz!

Dear Valued Members, 

Kazakhstan Newsline would like to wish you and your families a great long weekend and Happy Nauryz! 

Due to the holiday, the next edition of the Kazakhstan Newsline daily digest will be published Tuesday, March 26, 2019. 

The Kazakhstan Newsline Team

...

Dear Valued Members, 

Kazakhstan Newsline would like to wish you and your families a great long weekend and Happy Nauryz! 

Due to the holiday, the next edition of the Kazakhstan Newsline daily digest will be published Tuesday, March 26, 2019. 

The Kazakhstan Newsline Team

...

Kazakhstan General

20.03.2019

Kazakhstan's economy in 2019: rising government spending pushes inflation up

Murat Temirkhanov, the acting chairman of the board of Halyk Finance, believes that economic growth will slow down in 2019 and 5% GDP growth predicted by the government is unlikely. He stated this speaking at the round table under the title Debt Market of Kazakhstan, held in Almaty

"For 2019, our...

Murat Temirkhanov, the acting chairman of the board of Halyk Finance, believes that economic growth will slow down in 2019 and 5% GDP growth predicted by the government is unlikely. He stated this speaking at the round table under the title Debt Market of Kazakhstan, held in Almaty

"For 2019, our...

20.03.2019

Kazakhstanis do not feel sufficiently protected

The volume of investigations and security services in Kazakhstan for 2018 amounted to 223.2 billion tenge, which is 17.7% more than in 2017.

The greatest demand for such services was recorded in Almaty for 60.5 billion tenge, and Astana for 41.8 billion tenge. On the third place is Atyrau region with...

The volume of investigations and security services in Kazakhstan for 2018 amounted to 223.2 billion tenge, which is 17.7% more than in 2017.

The greatest demand for such services was recorded in Almaty for 60.5 billion tenge, and Astana for 41.8 billion tenge. On the third place is Atyrau region with...

20.03.2019

Ambassador of Kazakhstan to Uzbekistan sacked on embezzlement charges

President of Kazakhstan Nursultan Nazarbayev has dismissed Ambassador of Kazakhstan to Uzbekistan Erik Utembaev, Akorda press service reports.

Utembaev was suspended in office in October 2018 on embezzlement suspicion.

On October 16, 2018, the National Counter-CorruptionBureau said the Ambassador of Kazakhstan to Uzbekistan was suspected of large-scale appropriation of public budget funds.

Erik...

President of Kazakhstan Nursultan Nazarbayev has dismissed Ambassador of Kazakhstan to Uzbekistan Erik Utembaev, Akorda press service reports.

Utembaev was suspended in office in October 2018 on embezzlement suspicion.

On October 16, 2018, the National Counter-CorruptionBureau said the Ambassador of Kazakhstan to Uzbekistan was suspected of large-scale appropriation of public budget funds.

Erik...

20.03.2019

Kazakh PM briefed on new Shymkent satellite town’s development

Shymkent city officials briefed Kazakh Prime Minister Askar Mamin March 16 on the city’s project to accelerate its comprehensive development and construction plan.

The acceleration effort and the development plan through 2023 seek to create new jobs, develop small and medium-sized businesses, improve the quality of public services and address social...

Shymkent city officials briefed Kazakh Prime Minister Askar Mamin March 16 on the city’s project to accelerate its comprehensive development and construction plan.

The acceleration effort and the development plan through 2023 seek to create new jobs, develop small and medium-sized businesses, improve the quality of public services and address social...

20.03.2019

The First President – Elbasy signs a number of decisions

The decisions have been published on the website Akorda.

“To appoint Abai Bisembayev as assistant to the First President of Kazakhstan – Elbasy and first deputy head of the Presidential Affairs Office of Kazakhstan,” the decision says.

In addition, by the decision of the First President of the Republic of Kazakhstan –...

The decisions have been published on the website Akorda.

“To appoint Abai Bisembayev as assistant to the First President of Kazakhstan – Elbasy and first deputy head of the Presidential Affairs Office of Kazakhstan,” the decision says.

In addition, by the decision of the First President of the Republic of Kazakhstan –...

Oil and Gas Sector

20.03.2019

Kazakhstan intends to fulfil plan to reduce oil production

Energy Minister Kanat Bozumbayev took part in the meeting of the OPEC + joint ministerial monitoring committee held in Baku on March 17-18. Kazakhstan assured the meeting participants of their intention to fulfil the plan to reduce production in the first six months of 2019," a press service of the...

Energy Minister Kanat Bozumbayev took part in the meeting of the OPEC + joint ministerial monitoring committee held in Baku on March 17-18. Kazakhstan assured the meeting participants of their intention to fulfil the plan to reduce production in the first six months of 2019," a press service of the...

20.03.2019

Atyrau Refinery to build new sewage treatment plant

The Atyrau Refinery will build new treatment plants, the press service of the enterprise reported. “This year we are launching the TAZALYQ project, that is, we will build new sewage treatment plants. It must be admitted that the existing cleaning system is obsolete and technically worn out. We studied the...

The Atyrau Refinery will build new treatment plants, the press service of the enterprise reported. “This year we are launching the TAZALYQ project, that is, we will build new sewage treatment plants. It must be admitted that the existing cleaning system is obsolete and technically worn out. We studied the...

20.03.2019

Urals slides back into discount pending new supply outlook

Kazakhstan’s benchmark Urals crude’s differentials in northwest Europe softened on Tuesday in a deal, while demand for April-loading cargoes was still strong, traders said.

They expect Urals crude provisional loading plan for April 1-10 to emerge on Wednesday.

In the Platts window, Trafigura sold to BP 100,000 tonnes of Urals loading from...

Kazakhstan’s benchmark Urals crude’s differentials in northwest Europe softened on Tuesday in a deal, while demand for April-loading cargoes was still strong, traders said.

They expect Urals crude provisional loading plan for April 1-10 to emerge on Wednesday.

In the Platts window, Trafigura sold to BP 100,000 tonnes of Urals loading from...

20.03.2019

Crude benchmark prices peak on OPEC consistency, sanctions failure

Oil prices were little changed after hitting 2019 highs on Tuesday, maintaining recent strength on the back of expectations for OPEC to continue production cuts.

U.S. oil prices have climbed 9 percent in the last six weeks, as the supply cuts are now expected to continue through the rest of 2019....

Oil prices were little changed after hitting 2019 highs on Tuesday, maintaining recent strength on the back of expectations for OPEC to continue production cuts.

U.S. oil prices have climbed 9 percent in the last six weeks, as the supply cuts are now expected to continue through the rest of 2019....

20.03.2019

North Sea regional gas prices pick up on supply woes, strikes pending

British wholesale gas prices picked up from 18-month lows on Tuesday, as an unplanned outage reduced supplies slightly from Norway and buyers braced for a potential impact of labour strikes due at some platforms.

The within-day gas price rose 0.75 pence to 38.75 p/therm by 0850 GMT.

The day-ahead price had yet...

British wholesale gas prices picked up from 18-month lows on Tuesday, as an unplanned outage reduced supplies slightly from Norway and buyers braced for a potential impact of labour strikes due at some platforms.

The within-day gas price rose 0.75 pence to 38.75 p/therm by 0850 GMT.

The day-ahead price had yet...

Finance and Investment

20.03.2019

Most economical banks to handle salary payrnets

In the last quarter of last year, the average monthly wages of Kazakhstani people already amounted to 176.1 thousand tenge, 7.5% more than in the same period a year earlier. Wage growth overtakes inflation, the purchasing power increased by 2.2% on-year. The wages fund in the fourth quarter of last...

In the last quarter of last year, the average monthly wages of Kazakhstani people already amounted to 176.1 thousand tenge, 7.5% more than in the same period a year earlier. Wage growth overtakes inflation, the purchasing power increased by 2.2% on-year. The wages fund in the fourth quarter of last...

20.03.2019

Tax Amnesty: Kazakhstanis pay up 7.3 billion tenge in tax arrears

As of March 13, 2019, 33,121 taxpayers repaid the amount of arrears, registered as of October 1, 2018, for a total of 7.2 billion tenge. This was reported by the press service of the State Revenue Committee of the Ministry of Finance of Kazakhstan.

"As part of the ongoing tax amnesty,...

As of March 13, 2019, 33,121 taxpayers repaid the amount of arrears, registered as of October 1, 2018, for a total of 7.2 billion tenge. This was reported by the press service of the State Revenue Committee of the Ministry of Finance of Kazakhstan.

"As part of the ongoing tax amnesty,...

20.03.2019

Damu Fund issues first affordable lending subsidy

The Damu Fund issued the first subsidy to the Merke cheese factory in the Zhambyl region under the program of affordable lending to priority projects. The rate of remuneration will be 14.95%, of which 6.95% is subsidised by the state. The loan amount is 16 million tenge for a period...

The Damu Fund issued the first subsidy to the Merke cheese factory in the Zhambyl region under the program of affordable lending to priority projects. The rate of remuneration will be 14.95%, of which 6.95% is subsidised by the state. The loan amount is 16 million tenge for a period...

20.03.2019

ForteBank recognised best bank in Kazakhstan according to Global Finance

On March 12, 2019 in New York, Global Finance magazine announced its 26th annual award ceremony for the best banks in the world.

Global Finance annually conducts research and selects the best financial institutions in more than 150 countries, based on the criteria of dynamic growth, development and implementation of innovative...

On March 12, 2019 in New York, Global Finance magazine announced its 26th annual award ceremony for the best banks in the world.

Global Finance annually conducts research and selects the best financial institutions in more than 150 countries, based on the criteria of dynamic growth, development and implementation of innovative...

20.03.2019

Kazakhstan to impose standard common individual income and property declaration

The Kazakh Finance Ministry State Revenue Committee is testing an electronic submission system for unified declaration of individuals’ income and property to be introduced beginning in 2020 to reduce shadow economy and corruption. The committee reduced the declaration’s volume, corrected taxpayer information discrepancies in government databases and implemented tax deductions...

The Kazakh Finance Ministry State Revenue Committee is testing an electronic submission system for unified declaration of individuals’ income and property to be introduced beginning in 2020 to reduce shadow economy and corruption. The committee reduced the declaration’s volume, corrected taxpayer information discrepancies in government databases and implemented tax deductions...

20.03.2019

Kazakh tenge settles at 376.49 per US dollar on Tuesday

Based on results of trades on the spot-market:

- weighted average US dollar rate with settlements T+1 in tenge (USDKZT_TOМ) made up KZT376.49 per US dollar at the trades volume of USD94,039 th.;

- on US dollar with settlements Т+0 and T+2 in tenge no deals were made; at the session close...

Based on results of trades on the spot-market:

- weighted average US dollar rate with settlements T+1 in tenge (USDKZT_TOМ) made up KZT376.49 per US dollar at the trades volume of USD94,039 th.;

- on US dollar with settlements Т+0 and T+2 in tenge no deals were made; at the session close...

20.03.2019

Greenback keeps losing ground over US monetary policy enigma

The Japanese yen rose on Tuesday, benefiting from a U.S. dollar hit by concern over the U.S. economy and expectations that the Federal Reserve will prove accommodative at a meeting this week.

The euro also profited from the weaker dollar, adding 0.2 percent to $1.1348.

Markets expect the Fed to strike a...

The Japanese yen rose on Tuesday, benefiting from a U.S. dollar hit by concern over the U.S. economy and expectations that the Federal Reserve will prove accommodative at a meeting this week.

The euro also profited from the weaker dollar, adding 0.2 percent to $1.1348.

Markets expect the Fed to strike a...

Metals and Minerals

20.03.2019

Bullion, palladium continue glorious performance on monetary woes, fears of Russian supply restrictions

Palladium surged to a record on Tuesday as the risk of a ban on some Russian exports added to supply concerns for the autocatalyst metal, while gold rose on expectations the U.S. Federal Reserve will stay dovish at its meeting this week.

Spot palladium was up 0.2 percent at $1,586.92 an...

Palladium surged to a record on Tuesday as the risk of a ban on some Russian exports added to supply concerns for the autocatalyst metal, while gold rose on expectations the U.S. Federal Reserve will stay dovish at its meeting this week.

Spot palladium was up 0.2 percent at $1,586.92 an...

20.03.2019

Copper, aluminium pull base metal benchmark prices up on restored trust in demand

Aluminium touched a three-month peak on Tuesday after major producer Norsk Hydro was hit by a cyber attack, causing its giant smelters to switch to manual operation and some extrusion plants to be shut.

Other industrial metals also gained ground on optimism about easy monetary policy ahead of a U.S. central...

Aluminium touched a three-month peak on Tuesday after major producer Norsk Hydro was hit by a cyber attack, causing its giant smelters to switch to manual operation and some extrusion plants to be shut.

Other industrial metals also gained ground on optimism about easy monetary policy ahead of a U.S. central...

Manufacturing industry

20.03.2019

80% of cement certificates from Russia are illegal in Kazakhstan

In three years, almost 80% of Russian certificates for cement from Russia are recognised in Kazakhstan illegally, the press service of Atameken NCE reported. “Previously, the business community of Kazakhstan repeatedly raised the issue of unlawful recognition of Russian certificates. Only for cement in 2016-2018, 161 certificates were issued for...

In three years, almost 80% of Russian certificates for cement from Russia are recognised in Kazakhstan illegally, the press service of Atameken NCE reported. “Previously, the business community of Kazakhstan repeatedly raised the issue of unlawful recognition of Russian certificates. Only for cement in 2016-2018, 161 certificates were issued for...

Agriculture

20.03.2019

Stocks of grain crops in Kazakhstan this year are the lowest in 5 years

An important time for active preparation for the sowing campaign-2019 is coming in Kazakhstan. Farmers check and, if necessary, repair equipment, stock up fuel and lubricants, fertilisers and herbicides. A considerable part of the worries and financial costs are issues of seed procurement. Quality seeds remain one of the main pillars of good grain yield. But this year the level of stocks of seeds of grain crops on March 1 is the lowest for the last 5 years. Grain reserves at the beginning of the new year are recorded at the rate of 14,465,559 tonnes and reduced over the month by 1,328,793 tonnes or 8.4%. As of February 1 of this year, 11,867,608 tonnes of grain were recorded in Kazakhstan, and reserves fell by 2,597,951 tonnes or 18%. By March 1, grain stocks amounted to 10,277,759 tonnes and decreased in February by 1,589,849 tonnes or by 13.4%. The seeds in the grain balance as of March 1, 2019 amounted to 1,599,381 tonnes. Their number decreased in January by 34,998 tonnes or by 2.2% from the beginning of the current year. In February, seeds increased by 26,944 tonnes or 1.7%. However, this year the seed is less than last year by 72.5 thousand tonnes, against 1,671,887 tonnes in 2018. Kazakhstan continues to implement a program to diversify grain areas, primarily for wheat. Perhaps, taking into account their next reduction, the volume of seeds for the upcoming sowing season will be enough. But one cannot count on the fact that the yield of grain crops will grow steadily, and, due to this, the yields will remain at a stable level, despite the reduction in the area. You cannot disregard the climatic factors and changing market conditions. This was shown by January of this year, when the regional market was significantly eased by Kazakhstan's barns, and prices soared significantly. Kazakhstan wheat and barley remain in demand on the world market, but it is needed to pay more attention and effort to improve the quality of the product, logistics and work with potential buyers. By Sergey Bukatov for Kazakh Zerno. Stocks of grain crops as of March 1, 2015-19
Year Grain reserves as of March 1 Seed reserves as of March 1
2015 10908032 1612413
2016 10157069 1691312
2017 11735865 1771383
2018 12096356 1671887
2019 10277759 1599381

An important time for active preparation for the sowing campaign-2019 is coming in Kazakhstan. Farmers check and, if necessary, repair equipment, stock up fuel and lubricants, fertilisers and herbicides. A considerable part of the worries and financial costs are issues of seed procurement. Quality seeds remain one of the main pillars of good grain yield. But this year the level of stocks of seeds of grain crops on March 1 is the lowest for the last 5 years.

Grain reserves at the beginning of the new year are recorded at the rate of 14,465,559 tonnes and reduced over the month by 1,328,793 tonnes or 8.4%. As of February 1 of this year, 11,867,608 tonnes of grain were recorded in Kazakhstan, and reserves fell by 2,597,951 tonnes or 18%. By March 1, grain stocks amounted to 10,277,759 tonnes and decreased in February by 1,589,849 tonnes or by 13.4%.

The seeds in the grain balance as of March 1, 2019 amounted to 1,599,381 tonnes. Their number decreased in January by 34,998 tonnes or by 2.2% from the beginning of the current year. In February, seeds increased by 26,944 tonnes or 1.7%. However, this year the seed is less than last year by 72.5 thousand tonnes, against 1,671,887 tonnes in 2018.

Kazakhstan continues to implement a program to diversify grain areas, primarily for wheat. Perhaps, taking into account their next reduction, the volume of seeds for the upcoming sowing season will be enough. But one cannot count on the fact that the yield of grain crops will grow steadily, and, due to this, the yields will remain at a stable level, despite the reduction in the area. You cannot disregard the climatic factors and changing market conditions. This was shown by January of this year, when the regional market was significantly eased by Kazakhstan's barns, and prices soared significantly.

Kazakhstan wheat and barley remain in demand on the world market, but it is needed to pay more attention and effort to improve the quality of the product, logistics and work with potential buyers.

By Sergey Bukatov for Kazakh Zerno.

Stocks of grain crops as of March 1, 2015-19

Year

Grain reserves as of March 1

Seed reserves as of March 1

2015

10908032

1612413

2016

10157069

1691312

2017

11735865

1771383

2018

12096356

1671887

2019

10277759

1599381

20.03.2019

It is not possible to refuse to subsidise investments in imported equipment in Kazakhstan

Currently, an integrated development plan for the engineering industry of Kazakhstan for 2019-2030 is being developed. This is reported in the response of the Prime Minister of Kazakhstan Askar Mamin to the request of a group of deputies from the Ak Zhol party.

"The comprehensive plan includes the development of various...

Currently, an integrated development plan for the engineering industry of Kazakhstan for 2019-2030 is being developed. This is reported in the response of the Prime Minister of Kazakhstan Askar Mamin to the request of a group of deputies from the Ak Zhol party.

"The comprehensive plan includes the development of various...

20.03.2019

Wheat benchmark holds position on investor support as maize retreats

Chicago wheat futures edged higher on Tuesday as short-covering by investors supported the market, although lacklustre demand for U.S. supplies kept a lid on the market.

Corn and soybeans eased for a second consecutive session.

The most-active wheat contract on the Chicago Board Of Trade was up 0.2 percent at $4.57-1/2 a...

Chicago wheat futures edged higher on Tuesday as short-covering by investors supported the market, although lacklustre demand for U.S. supplies kept a lid on the market.

Corn and soybeans eased for a second consecutive session.

The most-active wheat contract on the Chicago Board Of Trade was up 0.2 percent at $4.57-1/2 a...

Communications and Transportation

20.03.2019

Airline revenues for the winter months of this year amount to almost 50 billion tenge

In two months of 2019, the revenues of air transport enterprises reached 49.7 billion tenge, by 21.2% more than in the same period last year. The share of air transport in the transport industry as a whole amounted to 10.8%. In 2018, the share of airlines was slightly lower at...

In two months of 2019, the revenues of air transport enterprises reached 49.7 billion tenge, by 21.2% more than in the same period last year. The share of air transport in the transport industry as a whole amounted to 10.8%. In 2018, the share of airlines was slightly lower at...

20.03.2019

Kazakhtelecom holds negotiations with minority shareholders

Negotiations were held between representatives of Kazakhtelecom and minority shareholders, who made demands to repurchase shares in connection with their disagreement with the decision of the Board of Directors to conclude a major transaction, that is acquisition of 75% of shares of Kcell.

During the negotiations with the participation of independent...

Negotiations were held between representatives of Kazakhtelecom and minority shareholders, who made demands to repurchase shares in connection with their disagreement with the decision of the Board of Directors to conclude a major transaction, that is acquisition of 75% of shares of Kcell.

During the negotiations with the participation of independent...

20.03.2019

Kazakhstan sees FinTech as its gate to the future

When Kazakhstan’s Ministry of Finance probed a slowdown in processing speed of its computers in February, they found unusual culprits. The ministry’s own IT specialists had secretly installed software on its information processing systems to profit from mining, or encrypting and decrypting, cryptocurrencies – inadvertently also shining...

When Kazakhstan’s Ministry of Finance probed a slowdown in processing speed of its computers in February, they found unusual culprits. The ministry’s own IT specialists had secretly installed software on its information processing systems to profit from mining, or encrypting and decrypting, cryptocurrencies – inadvertently also shining a light on...

Real Estate

20.03.2019

Housing construction investments in 2018 amount to 1.2 trillion tenge

In 2018, 1.2 trillion tenge was invested in housing construction from all sources. This is higher than the level of 2017 by 8.1%. The Minister of Industry and Infrastructure Development of Kazakhstan Roman Sklyar reported about this at a meeting of the government.

He clarified that for each tenge of public...

In 2018, 1.2 trillion tenge was invested in housing construction from all sources. This is higher than the level of 2017 by 8.1%. The Minister of Industry and Infrastructure Development of Kazakhstan Roman Sklyar reported about this at a meeting of the government.

He clarified that for each tenge of public...

People and Professional Development

20.03.2019

The Head of State makes personnel changes

This was reported by the press service of Akorda.

By Decrees of the President of Kazakhstan Nursultan Nazarbayev:

Malik Murzalin relieved of his post as akim of Akmola region, appointed deputy head of the Presidential Administration of the Republic of Kazakhstan;

Yermek Marzhikpayev was appointed akim of Akmola region;

Kairat Kozhamzharov was appointed deputy...

This was reported by the press service of Akorda.

By Decrees of the President of Kazakhstan Nursultan Nazarbayev:

Malik Murzalin relieved of his post as akim of Akmola region, appointed deputy head of the Presidential Administration of the Republic of Kazakhstan;

Yermek Marzhikpayev was appointed akim of Akmola region;

Kairat Kozhamzharov was appointed deputy...

Regional News

20.03.2019

Afghan conflict reaches Central Asia’s doorstep

The years-long standoff between the Taliban and the Afghan authorities has made itself felt in the post-Soviet area, knocking on Turkmenistan’s door. Tensions flared up when the Taliban attacked checkpoints on the Afghan-Turkmen border in the Badghis province. The incident has made it clear that the Taliban is searching for...

The years-long standoff between the Taliban and the Afghan authorities has made itself felt in the post-Soviet area, knocking on Turkmenistan’s door. Tensions flared up when the Taliban attacked checkpoints on the Afghan-Turkmen border in the Badghis province. The incident has made it clear that the Taliban is searching for...

20.03.2019

China eyes multiple measures to improve foreign trade in 2019

China will take an array of measures to support foreign trade this year amid increased uncertainty, a senior official said Monday.

The country's foreign trade development is facing a more complicated and severe environment with greater uncertainty and more risks and challenges, Assistant Commerce Minister Ren Hongbin told a national conference...

China will take an array of measures to support foreign trade this year amid increased uncertainty, a senior official said Monday.

The country's foreign trade development is facing a more complicated and severe environment with greater uncertainty and more risks and challenges, Assistant Commerce Minister Ren Hongbin told a national conference...

20.03.2019

China Telecom net profits grow 14% in 2018

China Telecom, a leading mobile operator in China, reported a 13.9-percent year-on-year increase in net profits in 2018, the company announced Tuesday.

Profits attributable to equity holders totaled 21.2 billion yuan ($3.2 billion) last year, with basic earnings per share standing at 0.26 yuan, according to a company statement.

Operating revenue was...

China Telecom, a leading mobile operator in China, reported a 13.9-percent year-on-year increase in net profits in 2018, the company announced Tuesday.

Profits attributable to equity holders totaled 21.2 billion yuan ($3.2 billion) last year, with basic earnings per share standing at 0.26 yuan, according to a company statement.

Operating revenue was...

20.03.2019

China relies on growing consumption, while Russia bets on national projects

Deep differences between the economic policies of Beijing and Moscow have become evident after Chinese Prime Minister Li Keqiang’s program was translated into Russian. Russia’s authorities set artificial restrictions to limit consumer demand, increase taxes and cut state expenditures, while the Chinese government pursues a policy route that is the...

Deep differences between the economic policies of Beijing and Moscow have become evident after Chinese Prime Minister Li Keqiang’s program was translated into Russian. Russia’s authorities set artificial restrictions to limit consumer demand, increase taxes and cut state expenditures, while the Chinese government pursues a policy route that is the...

20.03.2019

Russian rouble halts upward trend on Kazakh President’s resignation, stock still moves upward

The Russian rouble dipped slightly on Tuesday, moving away from seven-month highs, after Kazakh President Nursultan Nazarbayev announced his resignation.

The rouble had received a boost this week from higher oil prices and month-end tax payments that spurred an increased conversion of foreign currency by Russian export-focused companies...

The Russian rouble dipped slightly on Tuesday, moving away from seven-month highs, after Kazakh President Nursultan Nazarbayev announced his resignation.

The rouble had received a boost this week from higher oil prices and month-end tax payments that spurred an increased conversion of foreign currency by Russian export-focused companies in order to...

20.03.2019

Wind power production in Azerbaijan increases eight-fold

The rapid development of technology in the modern world, offers wide opportunities for developing environmentally friendly and inexhaustible energy resources.

Azerbaijan produced goods and services in the amount of 368.8 million manats ($217.01 million) in production, distribution and supply of electricity, gas and steam in January-February 2019.

According to the State Statistics...

The rapid development of technology in the modern world, offers wide opportunities for developing environmentally friendly and inexhaustible energy resources.

Azerbaijan produced goods and services in the amount of 368.8 million manats ($217.01 million) in production, distribution and supply of electricity, gas and steam in January-February 2019.

According to the State Statistics...

Prices and Statistics

20.03.2019

Commodities

Date: March 20, 2019; Source: Bloomberg.com Energy
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 58.91 -0.12 -0.20% Apr 2019 11:29 PM
CO1:COMBrent Crude (ICE) USD/bbl. 67.60 -0.01 -0.01% May 2019 11:33 PM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 188.98 -0.33 -0.17% Apr 2019 10:49 PM
NG1:COMNatural Gas (Nymex) USD/MMBtu 2.86 -0.01 -0.35% Apr 2019 11:32 PM
HO1:COMHeating Oil (Nymex) USd/gal. 198.78 -0.26 -0.13% Apr 2019 11:28 PM
Precious and Industrial Metals
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
GC1:COMGold (Comex) USD/t oz. 1,304.50 -2.00 -0.15% Apr 2019 11:33 PM
XAUUSD:CURGold Spot USD/t oz. 1,304.75 -1.81 -0.14% N/A 11:42 PM
SI1:COMSilver (Comex) USD/t oz. 15.33 -0.04 -0.27% May 2019 11:32 PM
HG1:COMCopper (Comex) USd/lb. 291.45 -0.85 -0.29% May 2019 11:33 PM
XPTUSD:CURPlatinum Spot USD/t oz. 857.89 +5.46 +0.64% N/A 11:43 PM
Agriculture
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
C 1:COMCorn (CBOT) USd/bu. 371.25 0.00 0.00% May 2019 11:32 PM
W 1:COMWheat (CBOT) USd/bu. 456.50 0.00 0.00% May 2019 11:29 PM
CC1:COMCocoa (ICE) USD/MT 2,202.00 +6.00 +0.27% May 2019 1:29 PM
CT1:COMCotton #2 (ICE) USd/lb. 75.48 -0.17 -0.22% May 2019 11:33 PM
LC1:COMLive Cattle (CME) USd/lb. 122.73 +0.15 +0.12% Jun 2019 2:04 PM

Date: March 20, 2019; Source: Bloomberg.com

Energy

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 58.91 -0.12 -0.20% Apr 2019 11:29 PM
CO1:COMBrent Crude (ICE) USD/bbl. 67.60 -0.01 -0.01% May 2019 11:33 PM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 188.98 -0.33 -0.17% Apr 2019 10:49 PM
NG1:COMNatural Gas (Nymex) USD/MMBtu 2.86 -0.01 -0.35% Apr 2019 11:32 PM
HO1:COMHeating Oil (Nymex) USd/gal. 198.78 -0.26 -0.13% Apr 2019 11:28 PM

Precious and Industrial Metals

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
GC1:COMGold (Comex) USD/t oz. 1,304.50 -2.00 -0.15% Apr 2019 11:33 PM
XAUUSD:CURGold Spot USD/t oz. 1,304.75 -1.81 -0.14% N/A 11:42 PM
SI1:COMSilver (Comex) USD/t oz. 15.33 -0.04 -0.27% May 2019 11:32 PM
HG1:COMCopper (Comex) USd/lb. 291.45 -0.85 -0.29% May 2019 11:33 PM
XPTUSD:CURPlatinum Spot USD/t oz. 857.89 +5.46 +0.64% N/A 11:43 PM

Agriculture

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
C 1:COMCorn (CBOT) USd/bu. 371.25 0.00 0.00% May 2019 11:32 PM
W 1:COMWheat (CBOT) USd/bu. 456.50 0.00 0.00% May 2019 11:29 PM
CC1:COMCocoa (ICE) USD/MT 2,202.00 +6.00 +0.27% May 2019 1:29 PM
CT1:COMCotton #2 (ICE) USd/lb. 75.48 -0.17 -0.22% May 2019 11:33 PM
LC1:COMLive Cattle (CME) USd/lb. 122.73 +0.15 +0.12% Jun 2019 2:04 PM
20.03.2019

Exchange Rates

Date: March 20, 2019; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 376.4
1 EURO EUR / KZT 427.36
1 RUSSIAN ROUBLE RUB / KZT 5.86
1 CHINESE YUAN CNY / KZT 56.08
1 KYRGYZIAN SOM KGS / KZT 5.39
1 GREAT BRITAIN POUND GBP / KZT 499.52
1 CANADIAN DOLLAR CAD / KZT 282.67
1 AUSTRALIAN DOLLAR AUD / KZT 267.13

Date: March 20, 2019; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

376.4

1 EURO

EUR / KZT

427.36

1 RUSSIAN ROUBLE

RUB / KZT

5.86

1 CHINESE YUAN

CNY / KZT

56.08

1 KYRGYZIAN SOM

KGS / KZT

5.39

1 GREAT BRITAIN POUND

GBP / KZT

499.52

1 CANADIAN DOLLAR

CAD / KZT

282.67

1 AUSTRALIAN DOLLAR

AUD / KZT

267.13