Issue 3989 - 27.06.2022
27.06.2022

Kazakhstan President takes part in the High-level Dialogue on Global Development BRICS+

Kassym-Jomart Tokayev, at the invitation of Chinese President Xi Jinping, took part in the High-level Dialogue on Global Development, which was held in virtual format.

The 14th BRICS Summit on the theme “Foster High-quality BRICS Partnership, Usher in a New Era for Global Development” is being held under the China’s chairmanship.

Welcoming the participants of the meeting, President Tokayev expressed gratitude to Chinese President Xi Jinping for his kind invitation and hosting this important event.

“Kazakhstan regards BRICS as a truly influential organization and a key growth engine for the world economy. Kazakhstan has a vital interest in developing vibrant partnership with BRICS countries. Last year, Kazakhstan’s trade with the BRICS exceeded 45 billion US Dollars. Still, we have plenty of room for expanding this volume in the years ahead,” the President stressed.

Speaking about the current global challenges, Kassym-Jomart Tokayev noted that today’s world is beset by crises and facing the unprecedented geopolitical and economic turbulence. In particular, he pointed to the worsening of the food security.

“Over the last few months, the world food situation has gone from bad to worse. Millions of lives are at stake if the global food supply chains continue to degrade. Today, three of the world's four major food producers are BRICS members, and the BRICS countries' total agricultural GDP accounts for more than half the world total,” the leader of Kazakhstan said.

The Head of State believes that resolving effectively the food crisis requires a fully coordinated international response and should include both short-term and long-term measures.

“Kazakhstan is committed to contributing to these efforts by employing its huge agricultural potential. Ensuring food security requires a well-functioning trade system for food and agriculture based on the principles of fairness and non-discrimination. In this regard, the Kazakh Chair of the just concluded 12th WTO Ministerial Conference provided new political direction to the relevant negotiations,” he said.

Kassym-Jomart Tokayev called the rapid soaring of inflation around the world another urgent task that needs to be solved. According to him, worsening financial conditions put serious pressure on highly indebted nations, businesses and families, and also leads to disruptions in global supply chains.

“Kazakhstan could contribute its fair share by playing a kind of “a buffer market” between East and West, South and North. In the long-term, we need to keep an open, fair, interconnected and resilient global economy. Here, I see a lot of potential in the “BRICS plus”, “One Belt - One Road” and the Greater Eurasian Partnership initiatives ushering a new era of growth and connectivity,” the President said.

Furthermore, Kazakhstan’s leader touched upon the climate change issue and spoke about the commitments made by our country to achieve carbon neutrality by 2060. In this regard, he announced plans to include nuclear energy in the country's energy mix and expressed commitment to collaboration with BRICS countries in the field of technical assistance and capacity building in addressing the climate change.

In his speech, President Tokayev focused on existential crisis of multilateralism and global governance, noting that international institutions remain our only tool to tackle the threats that go beyond the capabilities of any one country. He believes that new types of global partnerships should replace confrontation and zero-sum approach with a win-win dialogue. In particular, he commended the vision of the “Community of Common Destiny for Mankind”, as well as the Global Security and Global Development Initiatives put forward by Chairman Xi Jinping.

Addressing the participants of the meeting, President Tokayev pointed out the importance of achieving the Sustainable Development Goals.

“I welcome vigorous efforts by the UN Secretary-General Antonio Guterres to turbocharge the 2030 Agenda, including by convening the Summit of the Future next year. We should renew our commitment to leaving no one behind, especially women, youth, children, elders and disabled persons. The “BRICS plus” nations could contribute to narrowing the North-South gap and addressing the development imbalances,” the Head of State believes.

At the same time, Kassym-Jomart Tokayev focused on the importance of the regional cooperation towards the 2030 Agenda.

“We will continue pushing forward the idea of establishing in Almaty a UN Hub for SDGs for Central Asia and Afghanistan. We need to address the aggravating regional risks related to “water – energy – food security” nexus,” the President said.

Summing up his speech, the leader of Kazakhstan stressed that now is the time to turn this crisis into an opportunity.

“Here, all our efforts must be guided by the moral imperative – to Put People First. I am convinced the “BRICS plus” platform will make a worthy contribution to this endeavour,” Kassym-Jomart Tokayev his speech.

Along with the leaders of Kazakhstan and China, the event was attended by President Vladimir Putin of Russia, Prime Minister Narendra Modi of India, President Cyril Ramaphosa of South Africa, Vice President Antonio Hamilton Martins Mourã of Brazil, President Abdelmadjid Tebboune of Algeria, President Alberto Fernandez of Argentina, President Abdel Fattah El-Sisi of Egypt, President Joko Widodo of Indonesia, President Ebrahim Raisi of Iran, President Macky Sall of Senegal, President Shavkat Mirziyoyev of Uzbekistan, Prime Minister Ismail Sabri Yacoub of Malaysia, Prime Minister Prayut Chan-o-cha of Thailand, Prime Minister Hun Sen of Cambodia, Prime Minister Abiy Ahmed Ali of Ethiopia, Prime Minister Josiah Voreke Bainimarama of Fiji.

By the press service of Akorda

Kazakhstan General

27.06.2022

The President receives OSCE/ODIHR Director Matteo Mecacci

Kassym-Jomart Tokayev receives Director of the OSCE Office for Democratic Institutions and Human Rights Matteo Mecacci.

Welcoming Matteo Mecacci, the President noted that his visit is important in terms of enhancing cooperation with the OSCE.

The two discussed the state and prospects for the development of cooperation between Kazakhstan and the OSCE/ODIHR...

Kassym-Jomart Tokayev receives Director of the OSCE Office for Democratic Institutions and Human Rights Matteo Mecacci.

Welcoming Matteo Mecacci, the President noted that his visit is important in terms of enhancing cooperation with the OSCE.

The two discussed the state and prospects for the development of cooperation between Kazakhstan and the OSCE/ODIHR...

27.06.2022

Majilis Speaker attends 11th plenary session of TurkPA

The parliamentary delegation of Kazahstan led by Majilis Speaker Yerlan Koshanov took part in the 11th plenary session of the Parliamentary Assembly of Turkic-Speaking Countries (TurkPA) themed «Parliamentary diplomacy - the basis of trust and partnership».

Held in Cholpan-Ata city t he forum brought together the leaders of parliaments of Azerbaijan,...

The parliamentary delegation of Kazahstan led by Majilis Speaker Yerlan Koshanov took part in the 11th plenary session of the Parliamentary Assembly of Turkic-Speaking Countries (TurkPA) themed «Parliamentary diplomacy - the basis of trust and partnership».

Held in Cholpan-Ata city t he forum brought together the leaders of parliaments of Azerbaijan,...

27.06.2022

Kazakh Foreign Ministry hosts meeting with OSCE ODIHR Director

Deputy Prime Minister - Minister of Foreign Affairs of the Republic of Kazakhstan Mukhtar Tileuberdi met with the Director of the OSCE Office for Democratic Institutions and Human Rights (OSCE/ODIHR) Matteo Mecacci, as part of his visit to Kazakhstan.

The parties discussed current and future cooperation between Kazakhstan and the OSCE/ODIHR...

Deputy Prime Minister - Minister of Foreign Affairs of the Republic of Kazakhstan Mukhtar Tileuberdi met with the Director of the OSCE Office for Democratic Institutions and Human Rights (OSCE/ODIHR) Matteo Mecacci, as part of his visit to Kazakhstan.

The parties discussed current and future cooperation between Kazakhstan and the OSCE/ODIHR...

27.06.2022

State and Prospects of Kazakh-British cooperation discussed at Kazakhstan Foreign Ministry

Cooperation between Kazakhstan and the United Kingdom is based on solid foundations and has positive prospects for further development across the entire spectrum of relations. This conclusion was reached today by the Deputy Foreign Minister of Kazakhstan Roman Vasilenko and Director of the Eastern Europe and Central Asia Department of...

Cooperation between Kazakhstan and the United Kingdom is based on solid foundations and has positive prospects for further development across the entire spectrum of relations. This conclusion was reached today by the Deputy Foreign Minister of Kazakhstan Roman Vasilenko and Director of the Eastern Europe and Central Asia Department of...

27.06.2022

Kazakhstan Participates in First Consultations of Political Planning Departments of Foreign Ministries of OTS Member Countries

At the initiative of the Turkish side as the chairing country of the Organization of Turkic States (OTS), the first consultations were held with the participation of the directors of the political planning departments of the foreign ministries of the member and observer states of the Organization. The consultations were...

At the initiative of the Turkish side as the chairing country of the Organization of Turkic States (OTS), the first consultations were held with the participation of the directors of the political planning departments of the foreign ministries of the member and observer states of the Organization. The consultations were...

27.06.2022

South of Kazakhstan gets younger, north continues to age

The Billeter's index, which shows the age composition of the country's inhabitants, shows growing positive values in Kazakhstan (that is, a growing proportion of children in the population) for the eleventh year in a row.

In particular, the Billeter's index rose from 13 per 100 people in 2020 to 14.3 per...

The Billeter's index, which shows the age composition of the country's inhabitants, shows growing positive values in Kazakhstan (that is, a growing proportion of children in the population) for the eleventh year in a row.

In particular, the Billeter's index rose from 13 per 100 people in 2020 to 14.3 per...

Finance and Investment

27.06.2022

President instructs AIFC Governor to step up work to attract foreign investment

Kazakh Head of State Kassym-Jomart Tokayev received AIFC Governor Kairat Kelimbetov. The Kazakh President got familiarized with the outcomes of the work of the Astana International Financial Center in 2021.

The President was reported on the readiness for holding the international conference Astana Finance Days. Within it, the most significant issues...

Kazakh Head of State Kassym-Jomart Tokayev received AIFC Governor Kairat Kelimbetov. The Kazakh President got familiarized with the outcomes of the work of the Astana International Financial Center in 2021.

The President was reported on the readiness for holding the international conference Astana Finance Days. Within it, the most significant issues...

27.06.2022

EDB activities should be aimed at helping the countries of the Eurasian region - PM

In Nur-Sultan, under the chairmanship of the Prime Minister of the Republic of Kazakhstan Alikhan Smailov, a meeting of the Council of the Eurasian Development Bank (EDB) was held, at which the results of the bank's work in 2021 were approved.

Thus, last year the bank signed agreements on 19 new...

In Nur-Sultan, under the chairmanship of the Prime Minister of the Republic of Kazakhstan Alikhan Smailov, a meeting of the Council of the Eurasian Development Bank (EDB) was held, at which the results of the bank's work in 2021 were approved.

Thus, last year the bank signed agreements on 19 new...

27.06.2022

Short-term economic indicator of Kazakhstan over five months of this year increases by 5.9% yoy

Over the five months of this year, the short-term economic indicator (STEI) increased by 5.9% yoy. The main contribution to the growth of the indicator was still provided by the sectors of industry, trade and transport. In trade, high growth rates of 10.8% yoy were driven by further growth in...

Over the five months of this year, the short-term economic indicator (STEI) increased by 5.9% yoy. The main contribution to the growth of the indicator was still provided by the sectors of industry, trade and transport. In trade, high growth rates of 10.8% yoy were driven by further growth in...

27.06.2022

Microfinance market in Kazakhstan shows explosive growth

A high concentration is recorded in the microfinance market, but there is a noticeable downward trend. Over three months, the ten largest companies formed 74.4% of all assets and 74.2% of the total loan. This is less than it was a year earlier, by 0.8 and 3.9 p.p. respectively.

The first...

A high concentration is recorded in the microfinance market, but there is a noticeable downward trend. Over three months, the ten largest companies formed 74.4% of all assets and 74.2% of the total loan. This is less than it was a year earlier, by 0.8 and 3.9 p.p. respectively.

The first...

27.06.2022

Indicators of newcomer in banking sector of Kazakhstan very pessimistic

A newcomer to the banking sector: the Russian subsidiary, Alfa-Bank, killed by sanctions, has changed owners. On May 5, Bank CenterCredit completed the acquisition of 100% of Alfa-Bank's ordinary shares. The new fully Kazakhstani subsidiary bank will operate on the market under the Eco Centre Bank brand.

Almost all indicators of...

A newcomer to the banking sector: the Russian subsidiary, Alfa-Bank, killed by sanctions, has changed owners. On May 5, Bank CenterCredit completed the acquisition of 100% of Alfa-Bank's ordinary shares. The new fully Kazakhstani subsidiary bank will operate on the market under the Eco Centre Bank brand.

Almost all indicators of...

27.06.2022

Kazakhstan hopes to see FDI inflow up to $25.5bn in 2026

The level of investment in fixed capital is expected to reach 25.1 percent of GDP, while the inflow of foreign direct investment (FDI) will account for $25.5 billion in 2026, according to the newly approved Investment Policy Concept until 2026, said First Vice Minister of National Economy Timur Zhaksylykov at...

The level of investment in fixed capital is expected to reach 25.1 percent of GDP, while the inflow of foreign direct investment (FDI) will account for $25.5 billion in 2026, according to the newly approved Investment Policy Concept until 2026, said First Vice Minister of National Economy Timur Zhaksylykov at...

27.06.2022

Strong rouble, growing dollar deterrmine economy of Kazakhstan

The national currency on the stock exchange weakened against the rouble to 8.76 tenge, and against the dollar to 465.15 tenge. General Director of AERC Beta Galymzhan Aitkazin (Tengenomika telegram channel) noted that the depreciation of the tenge against the rouble has a negative effect on the cost of imported...

The national currency on the stock exchange weakened against the rouble to 8.76 tenge, and against the dollar to 465.15 tenge. General Director of AERC Beta Galymzhan Aitkazin (Tengenomika telegram channel) noted that the depreciation of the tenge against the rouble has a negative effect on the cost of imported...

27.06.2022

Kazakhstan risks falling under secondary sanctions and finds way to avoid this

In Kazakhstan, re-exports to Russia are actively growing, which increases the risk of moving sanctioned goods there. Therefore, domestic customs officers are going to control their movement when exported to a neighbouring country. According to the State Revenue Committee, a special working group is monitoring the import of sanctioned goods.

"According...

In Kazakhstan, re-exports to Russia are actively growing, which increases the risk of moving sanctioned goods there. Therefore, domestic customs officers are going to control their movement when exported to a neighbouring country. According to the State Revenue Committee, a special working group is monitoring the import of sanctioned goods.

"According...

27.06.2022

Eurasian Bank directs received profit to development of technologies

The Eurasian Bank will use the profits to increase active operations and develop technologies. The sole shareholder of the Eurasian Bank decided not to pay dividends for 2021, but to use net profit in the amount of 12.7 billion tenge to increase capital.

Shukhrat Ibragimov, member of the board of directors...

The Eurasian Bank will use the profits to increase active operations and develop technologies. The sole shareholder of the Eurasian Bank decided not to pay dividends for 2021, but to use net profit in the amount of 12.7 billion tenge to increase capital.

Shukhrat Ibragimov, member of the board of directors...

27.06.2022

UAPF of Kazakhstan tells how profitability of pension assets changes

The UAPF told how the investment yield of pension deposits has changed since the beginning of the year. According to the fund, since the beginning of this year, against the background of the deterioration of the geopolitical situation, volatility has increased in the global financial and commodity markets, which has...

The UAPF told how the investment yield of pension deposits has changed since the beginning of the year. According to the fund, since the beginning of this year, against the background of the deterioration of the geopolitical situation, volatility has increased in the global financial and commodity markets, which has...

27.06.2022

National Bank of Kazakhstan speaks about reasons for strengthening of rouble and dollar

The National Bank explained the strengthening of the dollar and the rouble. Ivan Serdyuk, Deputy Director of the Department of Monetary Operations of the National Bank, specified that the main reason for such dynamics is the growth in demand for foreign currency and the limited sellers on the market.

"General meetings...

The National Bank explained the strengthening of the dollar and the rouble. Ivan Serdyuk, Deputy Director of the Department of Monetary Operations of the National Bank, specified that the main reason for such dynamics is the growth in demand for foreign currency and the limited sellers on the market.

"General meetings...

27.06.2022

China and Kazakhstan in no hurry to make settlements in national currencies with sanctioned banks of Russia

This was stated by Anton Drozdov, Deputy Chairman of Promsvyazbank, a backbone for the military-industrial complex of Russia. Speaking at the Cheboksary Economic Forum, he spoke about the problems in international settlements.

"We are switching to national currencies, soft currencies. We use the Financial Message Transmission System of the Bank of...

This was stated by Anton Drozdov, Deputy Chairman of Promsvyazbank, a backbone for the military-industrial complex of Russia. Speaking at the Cheboksary Economic Forum, he spoke about the problems in international settlements.

"We are switching to national currencies, soft currencies. We use the Financial Message Transmission System of the Bank of...

27.06.2022

Trades on Kazakhstan Stock Exchange close near 467 tenge per dollar

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on June 24, 2022 at 17:00 amounted to 470.18 tenge. Compared to the data at 17:00 on June 23 (465.15 tenge per 1 dollar), the national currency weakened against the dollar by 5.03 tenge. During the trading week,...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on June 24, 2022 at 17:00 amounted to 470.18 tenge. Compared to the data at 17:00 on June 23 (465.15 tenge per 1 dollar), the national currency weakened against the dollar by 5.03 tenge. During the trading week,...

27.06.2022

US dollar depreciates against world currencies

The US dollar slipped against its major counterparts on Friday, extending its first weekly decline this month as investors continue to assess the Fed's policy stance and whether aggressive rate hikes will trigger a recession.

The safe-haven currency also lost support as market sentiment improved, pushing up regional equity markets and...

The US dollar slipped against its major counterparts on Friday, extending its first weekly decline this month as investors continue to assess the Fed's policy stance and whether aggressive rate hikes will trigger a recession.

The safe-haven currency also lost support as market sentiment improved, pushing up regional equity markets and...

27.06.2022

Stock markets rally as bargain hunters jump in

European shares jumped on Friday with investors hunting for bargains, although Italian oilfield services outfit Saipem crashed after warning that it needed to raise cash urgently.

The pan-European Stoxx 600 index rose 2.62% to 412.93, with all major bourses higher and French, Italian and Spanish stocks higher for the week.

Britain's FTSE...

European shares jumped on Friday with investors hunting for bargains, although Italian oilfield services outfit Saipem crashed after warning that it needed to raise cash urgently.

The pan-European Stoxx 600 index rose 2.62% to 412.93, with all major bourses higher and French, Italian and Spanish stocks higher for the week.

Britain's FTSE...

Oil and Gas Sector

27.06.2022

Gasoline prices in Kazakhstan may grow moderately

Rejection of marginal fuel prices may become an additional factor in consumer inflation, which accelerated to 14% year-on-year in Kazakhstan in May.

About a week is left until July 1, 2022, the date when the moratorium on raising retail prices for petroleum products will end. Industry experts are predicting a rise...

Rejection of marginal fuel prices may become an additional factor in consumer inflation, which accelerated to 14% year-on-year in Kazakhstan in May.

About a week is left until July 1, 2022, the date when the moratorium on raising retail prices for petroleum products will end. Industry experts are predicting a rise...

27.06.2022

Kazakhstan plans geological study on 680 thousand square kilometres by 2026

In Kazakhstan, a geological study of the subsoil will be carried out by 2026 on an area of 680 thousand square km. This was announced by the Minister of Ecology, Geology and Natural Resources of Kazakhstan Serikkali Brekeshev.

“There are significant prospects for new discoveries in Kazakhstan. In terms of hydrocarbons,...

In Kazakhstan, a geological study of the subsoil will be carried out by 2026 on an area of 680 thousand square km. This was announced by the Minister of Ecology, Geology and Natural Resources of Kazakhstan Serikkali Brekeshev.

“There are significant prospects for new discoveries in Kazakhstan. In terms of hydrocarbons,...

27.06.2022

Court of Appeal upholds fine of more than 5 billion rouble for oil spill near Novorossiysk

The Fifteenth Arbitration Court of Appeal upheld the decision to recover damages from the Caspian Pipeline Consortium for a spill at a sea terminal near Novorossiysk on August 7, 2021. This was announced by the head of Rosprirodnadzor Svetlana Radionova in her Telegram channel.

The amount that CPC tried to dispute...

The Fifteenth Arbitration Court of Appeal upheld the decision to recover damages from the Caspian Pipeline Consortium for a spill at a sea terminal near Novorossiysk on August 7, 2021. This was announced by the head of Rosprirodnadzor Svetlana Radionova in her Telegram channel.

The amount that CPC tried to dispute...

27.06.2022

Oil steadily rises in price after falling day before

Oil prices are steadily rising on Friday afternoon after falling the day before. "Prices fell despite indications that the oil and fuel market remains tight, underscored by near-record refinery margins that would fall if demand fell," Ole Hansen, an analyst at Saxo Bank, said.

"In the short term, we'll see a...

Oil prices are steadily rising on Friday afternoon after falling the day before. "Prices fell despite indications that the oil and fuel market remains tight, underscored by near-record refinery margins that would fall if demand fell," Ole Hansen, an analyst at Saxo Bank, said.

"In the short term, we'll see a...

27.06.2022

Oil and gas sector stock market for week of June 20–23, 2022

Last week (June 20-23), the Russian oil and gas stock market, with a few exceptions, was in a pronounced bearish trend. First of all, this was due to the fall in oil prices.

The price of Brent crude fell 3.8% over the week, breaking through the psychologically important support level of...

Last week (June 20-23), the Russian oil and gas stock market, with a few exceptions, was in a pronounced bearish trend. First of all, this was due to the fall in oil prices.

The price of Brent crude fell 3.8% over the week, breaking through the psychologically important support level of...

27.06.2022

OPEC+ sticks to plans at June 30 meeting

In August 2022, OPEC+ will follow the plan to increase production by 648 thousand b/d, Reuters reports, citing sources in the alliance. According to one of them, "OPEC+ will not change plans at this month's meeting." The next OPEC+ meeting is scheduled for June 30.

In May 2020, OPEC+, amid falling...

In August 2022, OPEC+ will follow the plan to increase production by 648 thousand b/d, Reuters reports, citing sources in the alliance. According to one of them, "OPEC+ will not change plans at this month's meeting." The next OPEC+ meeting is scheduled for June 30.

In May 2020, OPEC+, amid falling...

27.06.2022

Price of oil increases by more than 1%

World oil prices continue to rise on Friday afternoon, accelerating more and more in anticipation of a summer change in the balance of global supply and demand. This is evidenced by trading data and analysts' comments.

As of 2:45 pm Moscow time, the price of August futures for Brent crude oil...

World oil prices continue to rise on Friday afternoon, accelerating more and more in anticipation of a summer change in the balance of global supply and demand. This is evidenced by trading data and analysts' comments.

As of 2:45 pm Moscow time, the price of August futures for Brent crude oil...

27.06.2022

Gazprom's wholesale gas prices for Russian enterprises grow by 5%

Prices for gas produced by Gazprom and its subsidiaries will increase for industrial consumers by 5% from July 1. The corresponding order was approved by the Federal Antimonopoly Service of Russia (FAS). The document was published on the official Internet portal of legal information.

"To approve, from July 1, 2022, wholesale...

Prices for gas produced by Gazprom and its subsidiaries will increase for industrial consumers by 5% from July 1. The corresponding order was approved by the Federal Antimonopoly Service of Russia (FAS). The document was published on the official Internet portal of legal information.

"To approve, from July 1, 2022, wholesale...

27.06.2022

Eurasian natural gas benchmarks down following overheat

Dutch and British wholesale gas prices mostly fell on Friday morning, correcting gains made the previous day after Germany triggered the second phase of its emergency gas plan.

The benchmark Dutch wholesale gas contract for July delivery was down 4.75 euro at 131.00 euro per megawatt hour (MWh) by 0900 GMT,...

Dutch and British wholesale gas prices mostly fell on Friday morning, correcting gains made the previous day after Germany triggered the second phase of its emergency gas plan.

The benchmark Dutch wholesale gas contract for July delivery was down 4.75 euro at 131.00 euro per megawatt hour (MWh) by 0900 GMT,...

Metals and Minerals

27.06.2022

Kazakh delegation takes part in world’s major mining event in Canada

A delegation from Kazakhstan, including representatives of companies Kazgeology, Kazakh Invest and private sector, participated in Prospectors & Developers Association of Canada (PDAC) Convention, the world’s largest event in the geological and mining industry, according to the press service of the Kazakh MFA.

On the sidelines of PDAC-2022, the reception of...

A delegation from Kazakhstan, including representatives of companies Kazgeology, Kazakh Invest and private sector, participated in Prospectors & Developers Association of Canada (PDAC) Convention, the world’s largest event in the geological and mining industry, according to the press service of the Kazakh MFA.

On the sidelines of PDAC-2022, the reception of...

27.06.2022

Bullion holds firm as gringo dollar plummets

Gold steadied on Friday as the dollar retreated, but bullion was still on pace to post a weekly fall of nearly 1% as the non-yielding asset wrestled with the prospect of higher interest rates.

Spot gold was flat at $1,821.80 per ounce by 09:56 a.m. ET (1356 GMT), after earlier touching...

Gold steadied on Friday as the dollar retreated, but bullion was still on pace to post a weekly fall of nearly 1% as the non-yielding asset wrestled with the prospect of higher interest rates.

Spot gold was flat at $1,821.80 per ounce by 09:56 a.m. ET (1356 GMT), after earlier touching...

27.06.2022

Non-ferrous base metals post daily, weekly losses

Copper prices on Friday were set for their biggest weekly fall in a year, down around 7.5%, as investors worried that efforts by central banks to bring down inflation will stifle global economic growth and reduce demand for metals.

Other industrial metals also tumbled, with nickel down around 13% this week...

Copper prices on Friday were set for their biggest weekly fall in a year, down around 7.5%, as investors worried that efforts by central banks to bring down inflation will stifle global economic growth and reduce demand for metals.

Other industrial metals also tumbled, with nickel down around 13% this week...

Energy Industry

27.06.2022

Reactivation of BN-350 reactor in Aktau needs 115 billion tenge

But the final cost of work on specific projects will be determined by the results of the development of design estimates.

The decommissioning of the BN-350 reactor plant, located on the territory of MAEC-Kazatomprom, was estimated at 114.8 billion tenge. This was announced by Prime Minister Alikhan Smailov.

"In order to bring...

But the final cost of work on specific projects will be determined by the results of the development of design estimates.

The decommissioning of the BN-350 reactor plant, located on the territory of MAEC-Kazatomprom, was estimated at 114.8 billion tenge. This was announced by Prime Minister Alikhan Smailov.

"In order to bring...

Manufacturing industry

27.06.2022

Projects in Kazakhstan’s industry remain idle

Four enterprises are idle in Kazakhstan. This was reported in the Ministry of Industry and Infrastructure Development. "Of the projects commissioned during the first five-year period (2010-2014), there were seven idle industries. And with the achievement of design capacity indicators, three facilities were excluded, and today the number of these...

Four enterprises are idle in Kazakhstan. This was reported in the Ministry of Industry and Infrastructure Development. "Of the projects commissioned during the first five-year period (2010-2014), there were seven idle industries. And with the achievement of design capacity indicators, three facilities were excluded, and today the number of these...

27.06.2022

Regional centre Ulytau expects opening of two production facilities

In the regional centre Ulytau this year it is planned to open two production facilities. According to the administration of Zhezkazgan, in the second half of 2022, they want to open two projects worth 9.4 billion tenge in the city. Up to 247 jobs are expected to be created. Kazakh...

In the regional centre Ulytau this year it is planned to open two production facilities. According to the administration of Zhezkazgan, in the second half of 2022, they want to open two projects worth 9.4 billion tenge in the city. Up to 247 jobs are expected to be created. Kazakh...

Agriculture

27.06.2022

Sunflower oil increases in price in Kazakhstan by almost 20% in year

The production of sunflower oil in Kazakhstan in January-May 2022 amounted to 197.3 thousand tonnes, which is 29.6% more than in the same period last year. Of these, unrefined sunflower oil accounts for 131.4 thousand tonnes, an increase of 61.3% compared to January-May 2021. Refined sunflower oil accounted for 65.9...

The production of sunflower oil in Kazakhstan in January-May 2022 amounted to 197.3 thousand tonnes, which is 29.6% more than in the same period last year. Of these, unrefined sunflower oil accounts for 131.4 thousand tonnes, an increase of 61.3% compared to January-May 2021. Refined sunflower oil accounted for 65.9...

27.06.2022

What goes around comes around

Scientists from the southern region of Kazakhstan gathered the heads of farms in the Turkestan region to once again demonstrate by examples how important the use of resource-saving technologies for growing crops, seed quality and compliance with agricultural technologies are for the development of the agricultural industry.

Leading scientists of the...

Scientists from the southern region of Kazakhstan gathered the heads of farms in the Turkestan region to once again demonstrate by examples how important the use of resource-saving technologies for growing crops, seed quality and compliance with agricultural technologies are for the development of the agricultural industry.

Leading scientists of the...

27.06.2022

Kazakhstan predicts suspension of growth in flour prices

In the summer of 2022, the rise in flour prices will stop in Kazakhstan. Over the year, the price of it has increased by almost thirty%. Due to expensive flour, pasta, bread, rolls and confectionery products have risen in price.

Meanwhile, the Union of Grain Processors believes that now the price...

In the summer of 2022, the rise in flour prices will stop in Kazakhstan. Over the year, the price of it has increased by almost thirty%. Due to expensive flour, pasta, bread, rolls and confectionery products have risen in price.

Meanwhile, the Union of Grain Processors believes that now the price...

27.06.2022

Wheat quotes in US and Europe fall in united front

The futures wheat market for the period from June 10 to June 17, 2022 on the European and American continents has developed in different directions. On Monday, the Chicago Mercantile Exchange did not work, in Europe the day passed with a significant decrease; on Tuesday, on both sides of the...

The futures wheat market for the period from June 10 to June 17, 2022 on the European and American continents has developed in different directions. On Monday, the Chicago Mercantile Exchange did not work, in Europe the day passed with a significant decrease; on Tuesday, on both sides of the...

Communications and Transportation

27.06.2022

Kazakhstan tries to agree on decriminalisation of smuggling of consumer goods

Kazakhstan is discussing the issue of decriminalisation of smuggling of consumer goods. Responding to a request from the deputies, Prosecutor General Berik Asylov noted that at the moment, the Financial Monitoring Agency, the Ministry of Finance and the Atameken NCE are working on developing proposals for the delineation of criminal...

Kazakhstan is discussing the issue of decriminalisation of smuggling of consumer goods. Responding to a request from the deputies, Prosecutor General Berik Asylov noted that at the moment, the Financial Monitoring Agency, the Ministry of Finance and the Atameken NCE are working on developing proposals for the delineation of criminal...

27.06.2022

Qazaq Air launches flights to Baku

From July 7, Qazaq Air opens regular flights on new routes: Aktobe-Baku-Aktobe and Nur-Sultan-Baku-Nur-Sultan (transit through Aktobe).

“The new air connection between Kazakhstan and Azerbaijan will strengthen not only economic cooperation, but also contribute to the development of tourism between the two countries,” commented Suleyman Mirzaev, commercial director of Qazaq Air.

Flights...

From July 7, Qazaq Air opens regular flights on new routes: Aktobe-Baku-Aktobe and Nur-Sultan-Baku-Nur-Sultan (transit through Aktobe).

“The new air connection between Kazakhstan and Azerbaijan will strengthen not only economic cooperation, but also contribute to the development of tourism between the two countries,” commented Suleyman Mirzaev, commercial director of Qazaq Air.

Flights...

27.06.2022

Kazakhstan opens national pavilion on Alibaba.com

In Kazakhstan, on Friday, the opening ceremony of the national pavilion was held online on the international electronic platform Alibaba.com. This was reported by the press service of the Ministry of Trade and Integration of Kazakhstan.

Deputy Minister of Trade and Integration of Kazakhstan Kairat Torebayev noted that the opening of...

In Kazakhstan, on Friday, the opening ceremony of the national pavilion was held online on the international electronic platform Alibaba.com. This was reported by the press service of the Ministry of Trade and Integration of Kazakhstan.

Deputy Minister of Trade and Integration of Kazakhstan Kairat Torebayev noted that the opening of...

Regional News

27.06.2022

Parallel import may save Russia

The countries recognised by the Russian government as unfriendly accounted for about 45% of trade turnover in 2021, they also ensured the largest decline in imports: in money terms, supplies from Germany in March 2022 fell by 58.7% compared to March 2021, and from France and the United States by...

The countries recognised by the Russian government as unfriendly accounted for about 45% of trade turnover in 2021, they also ensured the largest decline in imports: in money terms, supplies from Germany in March 2022 fell by 58.7% compared to March 2021, and from France and the United States by...

27.06.2022

Rouble remains near 7-year highs, OFZ bonds rise

The Russian rouble stabilised near seven-year highs on Friday, helped by capital controls and strong prices for Russian exports such as oil and gas, while OFZ government bond prices rose.

At 12:07 Moscow time, the rouble is up 0.7% against the dollar to 53.12, close to the highest level since mid-2015...

The Russian rouble stabilised near seven-year highs on Friday, helped by capital controls and strong prices for Russian exports such as oil and gas, while OFZ government bond prices rose.

At 12:07 Moscow time, the rouble is up 0.7% against the dollar to 53.12, close to the highest level since mid-2015...

27.06.2022

Russian stock market dips moderately at end of week amid profit taking

Russian stock indices declined moderately on Friday, June 24, but ended the week as a whole with an increase. In recent days, the market has been supported by a certain improvement in sentiment on world stock markets, while the correction in oil prices remained a constraining factor. In addition, Russian...

Russian stock indices declined moderately on Friday, June 24, but ended the week as a whole with an increase. In recent days, the market has been supported by a certain improvement in sentiment on world stock markets, while the correction in oil prices remained a constraining factor. In addition, Russian...

27.06.2022

Central parity rate of yuan against US dollar strengthens by 79 basis points

The central parity rate of the Chinese yuan against the US dollar appreciated by 79 basis points to 6.7000 yuan per dollar today compared to the previous trading day, according to the China Centre for Foreign Exchange Dealings.

On the previous trading day, the yuan exchange rate against the dollar was...

The central parity rate of the Chinese yuan against the US dollar appreciated by 79 basis points to 6.7000 yuan per dollar today compared to the previous trading day, according to the China Centre for Foreign Exchange Dealings.

On the previous trading day, the yuan exchange rate against the dollar was...

27.06.2022

China's external debt falls in 1Q

As of the end of March 2022, China's outstanding national and foreign currency external debt stood at $2.7102 trillion, down 1% from the end of 2021. This is evidenced by the official data released today.

The outstanding foreign debt in national currency amounted to 45% of the total, which is equivalent...

As of the end of March 2022, China's outstanding national and foreign currency external debt stood at $2.7102 trillion, down 1% from the end of 2021. This is evidenced by the official data released today.

The outstanding foreign debt in national currency amounted to 45% of the total, which is equivalent...

27.06.2022

China's external financial assets amount to $9.2383 trillion by end of March

As of the end of March 2022, China's external financial assets stood at $9.2383 trillion. This is evidenced by statistical data on the financial situation of the country, published today by the State Administration of Foreign Exchange Control of China.

The country's external financial liabilities reached $7.2943 trillion, while the external...

As of the end of March 2022, China's external financial assets stood at $9.2383 trillion. This is evidenced by statistical data on the financial situation of the country, published today by the State Administration of Foreign Exchange Control of China.

The country's external financial liabilities reached $7.2943 trillion, while the external...

27.06.2022

China stocks log fourth weekly gain

China stocks log fourth weekly gain China stocks closed up to its highest level since early March on Friday, gaining for a fourth straight week, as the country stepped up effort to stimulate a COVID-hit economy with the infusion of fresh capital into the banking system to keep liquidity stable. The blue-chip...

China stocks log fourth weekly gain

China stocks closed up to its highest level since early March on Friday, gaining for a fourth straight week, as the country stepped up effort to stimulate a COVID-hit economy with the infusion of fresh capital into the banking system to keep liquidity stable.

The blue-chip CSI300 index rose 1.2% to 4,394.77, while the Shanghai Composite Index gained 0.9% to 3,349.75 points.

The Hang Seng index rose 2.1% to 21,719.06, while the China Enterprises Index gained 2.2% to 7,629.06 points.

For the week, the CSI300 Index rose nearly 2%, while the Hang Seng Index added 3.1%.

The People's Bank of China (PBOC) injected 60 billion yuan ($8.96 billion) worth of seven-day reverse repos, as demand for cash for the end of the first half of the year started to pick up.

Global equity markets rose, as commodities including copper and oil dropped, offering a salve for inflation fears.

Refinitiv data showed strong inflows from foreign investors, totalling more than 13.1 billion yuan ($1.96 billion) through the Stock Connect's Northbound leg.,

Chinese battery giant CATL jumped nearly 5% as it will start mass production next year of its latest generation product, with greater efficiency that lets electric cars drive longer distances on each charge.

New energy firms added 2.2%, while shares in defence and tourism went up more than 3% each.

Healthcare firms listed in mainland China gained 2.9%, while peers trading in Hong Kong surged nearly 7%.

"After a swift rebound led by the reopening theme and high-beta stocks/laggards recently, we expect the market to consolidate in the next two months on a mild economic recovery and earnings downgrades," said Meng Lei, China equities strategist at UBS Securities, as the CSI300 has risen roughly 15% since a trough in late April.

He added market pullback in the next two months would likely provide an attractive opportunity and a more material valuation re-rating from late third quarter, when broad estimate cuts potentially come to an end.

Tech giants listed in Hong Kong were up 4.1%, with e-commerce giant Alibaba rising 5.5% amid hints that China's technology crackdown is abating. 

Reported by Reuters.

Prices and Statistics

27.06.2022

Commodities

Date: June 27, 2022; Source: Bloomberg.com
...

Date: June 27, 2022; Source: Bloomberg.com

27.06.2022

Exchange Rates

Date: June 27, 2022; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 470.9
1 EURO EUR / KZT 496.94
1 RUSSIAN ROUBLE RUB / KZT 8.83
1 CHINESE YUAN CNY / KZT 70.33
1 KYRGYZIAN SOM KGS / KZT 5.92
1 GREAT BRITAIN POUND GBP / KZT 579.07
1 CANADIAN DOLLAR CAD / KZT 363.35
1 AUSTRALIAN DOLLAR AUD / KZT 325.72
...

Date: June 27, 2022; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

470.9

1 EURO

EUR / KZT

496.94

1 RUSSIAN ROUBLE

RUB / KZT

8.83

1 CHINESE YUAN

CNY / KZT

70.33

1 KYRGYZIAN SOM

KGS / KZT

5.92

1 GREAT BRITAIN POUND

GBP / KZT

579.07

1 CANADIAN DOLLAR

CAD / KZT

363.35

1 AUSTRALIAN DOLLAR

AUD / KZT

325.72