Issue 4537 - 17.09.2024
17.09.2024

Kazakh President addresses Kazakhstan-Germany Business Forum

Head of State Kassym-Jomart Tokayev addressed the Kazakhstan-Germany Business Forum in the Kazakh capital of Astana. In his speech, Tokayev expressed gratitude to German Chancellor Olaf Scholz and the representatives of the major German businesses for their participation in the forum. Tokayev pointed out that the official visit of the German Chancellor, representing a millstone in the Kazakh-German relations, offers new opportunities for greater interaction.  

Close diplomatic relations between our countries are the key factor, contributing to the development of a wide range of economic ties, that underpin our multilateral relations. Being one of the major and most developed economies of the world, Germany sets global standards in areas of manufacturing, technologies, green economy and innovation. German products are known for their exceptional quality, said the Head of State. 

As Tokayev said, last year the bilateral trade turnover rose 41% to 3.9 billion US dollars. Direct investments from Germany also rose by a whopping 64%, reaching a record of 770 million US dollars.

Agreements were reached on a comprehensive portfolio of 66 joint investment projects worth 55 billion US dollars. We look forward to seeing German enterprises expand their presence in our country, localizing their production under our brand ‘Made in Kazakhstan with German quality!, said Tokayev.

The Kazakh President pointed out that Kazakhstan promotes a new economic paradigm, aimed at establishing an economy based on knowledge and innovations. To this end, the country is carrying out profound economic and social reforms to liberalize the economy based on the principles of fair competition and freedom of enterprise. Striving for further growth, Kazakhstan launched a new investment cycle in order to attract 150 billion US dollars in direct foreign investments by 2029.

In his speech, Tokayev outlined a number of promising areas of cooperation.

Extraction and processing of natural resources based on the pragmatic formula ‘investments and technologies in exchange for essential raw materials. Our country’s mineral resource base includes over five thousand undiscovered deposits, estimated at trillions of dollars. As of today, we produce 19 out of the 34 rare-earth materials that are crucial to the EU economies. As part of these efforts, the German Mineral Resources Agency (DERA) and Kazakhstani partners are establishing a raw materials consortium. We look forward to the practical realization of this initiative. Besides, we welcome the plans of HMS Bergbau to carry out geological works to build a plant for processing lithium in East Kazakhstan. The volume of investments in this project stands at 500 million US dollars. The country’s rich strategic resource base provides many opportunities to expand industrial cooperation, said the Kazakh leader.

According to President Tokayev, the field of energy is another promising area. The Head of State noted that Kazakhstan holds the second-largest oil reserves in Eurasia and is a major exporter of energy resources to the global markets. Taking into account that the country’s 70% of oil exports fall at the European Union, Tokayev stressed the readiness to boost Kazakhstan’s export capacity and help reduce the global shortage of energy resources.

Localization of German production of oil and gas equipment and components in our country is a key priority. In a few words, our country welcomes the presence of German productions in Kazakhstan, so as to bring additional advanced technologies to our industrial landscape. Kazakhstan holds the considerable untapped potential in the sector of renewable energy, which attracts many major global players. For instance, investments of Germany’s Svevind group in Kazakhstan stand at 50 billion US dollars. The project’s goal is to produce green hydrogen and export it to European markets, added Tokayev.

According to the Kazakh leader, the strategic location of Kazakhstan makes it a key intraregional trade and logistics center in Eurasia.

Tokayev pointed out that the Middle Corridor is, currently, the shortest and most reliable route in Europe with the potential throughput of up to 10 million tons of cargo. Tokayev proposed to connect the Middle Corridor with the Trans-European Transport Network and the ЕС Global Gateway initiative to support the ever-increasing volume of trade between East and West.

The Head of State also pointed to huge opportunities for greater cooperation with Germany in the pharmaceutical area, noting that Kazakhstan is actively developing production of pharmaceuticals and medical equipment with the aim to increase the share of domestic products in the country by 50% by 2025.

As was said earlier, Kazakhstan attaches great attention to the promotion of agriculture. Ranked among the world’s top grain exporters, Kazakhstan aims to upgrade its agro-industry complex, introducing high technology and agro-technology innovations.

Kazakhstan intends to become the leading center of information technologies in Eurasia. The UN already included our country in the top 30 countries in terms of digitalization. Our country seeks broader cooperation within research projects, startups, technical education and trainings, as well as new complex IT projects, especially in the AI field, said Tokayev.

The Kazakh President stated that the Astana International Financial Center is ready to assist German companies to explore new opportunities for partnership.

Today’s AIFC is a unique regional center of investment, innovation and financial services, which embraces all advantages of the leading international financial centers such as Frankfurt, London, Dubai, New York and Singapore. The Center provides unprecedented conditions to attract investments, including favorable tax, visa and labor policies, individual support for each investor and impartial judicial system based on British law. Presently, around three thousand companies from 80 countries, including 20 German companies, operate within the Center. We hope this figure will rise in the nearest future, said Tokayev.

In conclusion, the Kazakh leader expressed confidence that today’s meeting will end up in significant results and become a significant step toward further deepening of economic ties between Kazakhstan and Germany.

By Kazinform

Kazakhstan and Germany sign key cooperation agreements.

Kazakhstan and Germany signed a number of strategic agreements within the Business Forum in the Kazakh capital of Astana.

Head of State of Kazakhstan Kassym-Jomart Tokayev and Federal Chancellor of Germany Olaf Scholz exchange the documents signed within the forum:

1. Roadmap for the Kazakh-German initiative to cooperate in the field of technical regulation between the Kazakh Industry and Construction Ministry and the Eastern Committee of the Germany Economy;

2. Memorandum of cooperation in the field of studies regarding the project ‘Green hydrogen’ between the Kazakh Science and Higher Education Ministry and Svevind Energy;

3. Strategic memorandum of mutual understanding between Kazakhstan’s Ecology and Natural Resources Ministry, Digital Development, Innovation and Aerospace Industry Ministry and Siemens;

4. Agreement on strategic partnership between Samruk Kazyna and Siemens Central Asia;

5. Framework agreement on mutual implementation of a project for joint construction of an international cargo and passenger airport between the Kazakh Transport Ministry and SKYHANSA;

6. Agreement on cooperation between Baiterek National Management Holding and HORSCH Maschinen GmbH;

7. Memorandum of mutual understanding between Baiterek Holding and KfW Bankengruppe;

8. Memorandum of mutual understanding between Baiterek Holding and CLAAS Global Sales GmbH;

9. Memorandum of intent between Kazakhstan’s National Center of Technology Foresight and the Federal Institute for Geosciences and Natural Resources (BGR);

10. Mandate letter between Kazakhstan Development Bank and Deutsche Bank;

11. Memorandum of mutual cooperation on the project for construction of a potassium salt and boric acid processing and production complex near the Satimola deposit in West Kazakhstan region between Qazaq Kalium Ltd. and KfW Bankengruppe, Euler Hermes Group;

12. Agreement to implement a project for joint production of Condor seed drills in Kostanay region between Agromashholding and Amazonen-werke h. Dreyer Se & Co.Kg.

During the visit of the German delegation, 23 more documents between different central and local government bodies and business structures of the two countries were signed.

By Kazinform

Kazakhstan General

17.09.2024

Kazakh President awards Sat Tokpakbayev title of National Hero

The Head of State awarded outstanding public and political figure, Colonel General, a veteran of the national security and defense bodies Sat Tokpakbayev the title of the Khalyk Kakharmany (National Hero) and a special insignia – The Golden Star and Otan Order.

The solemn awarding ceremony was held at the Akorda...

The Head of State awarded outstanding public and political figure, Colonel General, a veteran of the national security and defense bodies Sat Tokpakbayev the title of the Khalyk Kakharmany (National Hero) and a special insignia – The Golden Star and Otan Order.

The solemn awarding ceremony was held at the Akorda...

17.09.2024

Kazakh President greets German Chancellor Olaf Scholz

President of Kazakhstan Kassym-Jomart Tokayev greeted Federal Chancellor of Germany Olaf Scholz at the presidential palace Akorda.

German Chancellor Olaf Scholz was officially welcomed to Akorda by a guard of honour, with the presidential orchestra performing the national anthems of Kazakhstan and Germany.

Kassym-Jomart Tokayev and Olaf Scholz walked down the carpet...

President of Kazakhstan Kassym-Jomart Tokayev greeted Federal Chancellor of Germany Olaf Scholz at the presidential palace Akorda.

German Chancellor Olaf Scholz was officially welcomed to Akorda by a guard of honour, with the presidential orchestra performing the national anthems of Kazakhstan and Germany.

Kassym-Jomart Tokayev and Olaf Scholz walked down the carpet...

17.09.2024

Kazakhstan, Germany enjoy strong friendship- Kazakh President

President of Kazakhstan Kassym-Jomart Tokayev revealed what issues were under discussion during his private meeting with Federal Chancellor of Germany Olaf Scholz. 

The Head of State of Kazakhstan highlighted that this is the first official visit of German Chancellor Olaf Scholz to the country.

We attach particular importance to this event. I’m...

President of Kazakhstan Kassym-Jomart Tokayev revealed what issues were under discussion during his private meeting with Federal Chancellor of Germany Olaf Scholz. 

The Head of State of Kazakhstan highlighted that this is the first official visit of German Chancellor Olaf Scholz to the country.

We attach particular importance to this event. I’m...

17.09.2024

Kazakh President and German Chancellor hold talks in extended format

Kazakh President Kassym-Jomart Tokayev and German Chancellor Olaf Scholz held talks in an extended format with the participation of members of the official delegations.

During the talks, the Kazakh leader pointed out the special importance of the first official visit of the German Chancellor to Kazakhstan and expressed confidence that today’s...

Kazakh President Kassym-Jomart Tokayev and German Chancellor Olaf Scholz held talks in an extended format with the participation of members of the official delegations.

During the talks, the Kazakh leader pointed out the special importance of the first official visit of the German Chancellor to Kazakhstan and expressed confidence that today’s...

17.09.2024

Kazakhstan and Germany sign Declaration on Cooperation

Following the talks between President of Kazakhstan Kassym-Jomart Tokayev and Federation Chancellor of Germany Olaf Scholz, the Joint Declaration on Cooperation between Kazakhstan and the Federal Republic of Germany was signed.

The members of the official delegations inked the following documents:

Memorandum of mutual understanding on technical issues of cooperation between central...

Following the talks between President of Kazakhstan Kassym-Jomart Tokayev and Federation Chancellor of Germany Olaf Scholz, the Joint Declaration on Cooperation between Kazakhstan and the Federal Republic of Germany was signed.

The members of the official delegations inked the following documents:

Memorandum of mutual understanding on technical issues of cooperation between central...

Finance and Investment

17.09.2024

President holds meeting with German business representatives

President of Kazakhstan Kassym-Jomart Tokayev met with the representatives of German business circles ahead of the Kazakh-German Business Forum in Astana.

The Kazakh leader said that the presence of the leading German companies in Kazakhstan is clear evidence of a shared commitment to the development of economic cooperation between the two...

President of Kazakhstan Kassym-Jomart Tokayev met with the representatives of German business circles ahead of the Kazakh-German Business Forum in Astana.

The Kazakh leader said that the presence of the leading German companies in Kazakhstan is clear evidence of a shared commitment to the development of economic cooperation between the two...

17.09.2024

Kazakh PM and Deputy Managing Director of the IMF Bo Li discuss financial and economic cooperation issues

The Prime Minister of Kazakhstan Olzhas Bektenov met with the Deputy Managing Director of the International Monetary Fund Bo Li.The meeting focused on cooperating in the financial and economic areas.Kazakhstan has been a member of the IMF since 1992.

Long-term partnership with the Fund is important to ensure economic stability of...

The Prime Minister of Kazakhstan Olzhas Bektenov met with the Deputy Managing Director of the International Monetary Fund Bo Li.The meeting focused on cooperating in the financial and economic areas.Kazakhstan has been a member of the IMF since 1992.

Long-term partnership with the Fund is important to ensure economic stability of...

17.09.2024

KAZAKH INVEST took part in the Eurasian Conference of the Society of Honorary Consuls

Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Gabidulla Ospankulov and Deputy Chairman of the Board of JSC "NC "KAZAKH INVEST" Madiyar Sultanbek spoke at the Eurasian Conference of the Society of Honorary Consuls, organized with the support of the Ministry of Foreign Affairs of the...

Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Gabidulla Ospankulov and Deputy Chairman of the Board of JSC "NC "KAZAKH INVEST" Madiyar Sultanbek spoke at the Eurasian Conference of the Society of Honorary Consuls, organized with the support of the Ministry of Foreign Affairs of the...

17.09.2024

Kazakh economist forecasts tenge exchange rate changes during year

Almas Chukin, Chairman of the Board of Directors of Halyk Bank Kyrgyzstan, as well as Visor Managing Partner, gave a forecast for the tenge exchange rate for the year.

"From October to November, the tenge exchange rate will strengthen somewhere until April-May in the area of 440-460 tenge, and then by...

Almas Chukin, Chairman of the Board of Directors of Halyk Bank Kyrgyzstan, as well as Visor Managing Partner, gave a forecast for the tenge exchange rate for the year.

"From October to November, the tenge exchange rate will strengthen somewhere until April-May in the area of 440-460 tenge, and then by...

17.09.2024

Kazakhstanis can permanently refuse loans from banks and MFIs

Kazakhstanis can establish a voluntary waiver of bank loans and microcredits for an indefinite period. This can be done on the portal eGov.kz. To do this, go to the "Customs and Taxes" section and open the "Economics and Finance" subsection.

Then you need to select the service "Voluntary refusal to receive...

Kazakhstanis can establish a voluntary waiver of bank loans and microcredits for an indefinite period. This can be done on the portal eGov.kz. To do this, go to the "Customs and Taxes" section and open the "Economics and Finance" subsection.

Then you need to select the service "Voluntary refusal to receive...

17.09.2024

Foreign companies in Kazakhstan can receive even more pension money

Foreign companies can get more pension money into management. This rule is currently being discussed. Dauren Tasmagambetov, Managing Director of the AFK Securities Market Development Centre, spoke about what this could lead to.

In his opinion, the transfer of part of the UAPF funds may arouse additional interest from foreign financial...

Foreign companies can get more pension money into management. This rule is currently being discussed. Dauren Tasmagambetov, Managing Director of the AFK Securities Market Development Centre, spoke about what this could lead to.

In his opinion, the transfer of part of the UAPF funds may arouse additional interest from foreign financial...

17.09.2024

Assets and funds of National Fund of Kazakhstan increase by 4% over month

The volume of funds (assets plus money in accounts) of the National Fund of Kazakhstan in August increased by 4% compared to July, to 33.6 trillion tenge. This is evidenced by the statistics of the National Bank. A week ago, the Ministry of Finance called other data: the volume of...

The volume of funds (assets plus money in accounts) of the National Fund of Kazakhstan in August increased by 4% compared to July, to 33.6 trillion tenge. This is evidenced by the statistics of the National Bank. A week ago, the Ministry of Finance called other data: the volume of...

17.09.2024

Weighted average US dollar exchange rate on Kazakhstan Stock Exchange reaches 480.65 tenge

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on September 16, 2024 at 17:00 amounted to 480.65 tenge. Compared with the data at 17:00 on September 13 (479.51 tenge per 1 dollar), the national currency against the dollar weakened by 1.14 tenge.

According to KASE, at the...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on September 16, 2024 at 17:00 amounted to 480.65 tenge. Compared with the data at 17:00 on September 13 (479.51 tenge per 1 dollar), the national currency against the dollar weakened by 1.14 tenge.

According to KASE, at the...

17.09.2024

Stock markets stay depressed as greenback hits fresh bottom

The dollar weakened, while the yen soared to its highest level in more than a year on Monday. Market participants increased their expectations for an oversized rate cut by the Federal Reserve later this week. The dollar hit a low of 139.58 yen, falling from the 140.285 end-December level to...

The dollar weakened, while the yen soared to its highest level in more than a year on Monday. Market participants increased their expectations for an oversized rate cut by the Federal Reserve later this week. The dollar hit a low of 139.58 yen, falling from the 140.285 end-December level to...

Oil and Gas Sector

17.09.2024

Factors of growth and transformation of Kazakhstan's petrochemical industry named

Kazakhstan's petrochemical industry has shown a tendency to grow and diversify in recent years. This sector is playing an increasingly important role in the country's economy, which is striving to reduce dependence on exports of basic commodities.

The development of the industry is characterized by several key trends.

Firstly, there is an...

Kazakhstan's petrochemical industry has shown a tendency to grow and diversify in recent years. This sector is playing an increasingly important role in the country's economy, which is striving to reduce dependence on exports of basic commodities.

The development of the industry is characterized by several key trends.

Firstly, there is an...

17.09.2024

Ken-Ai-Oil Kyzylorda Company plans to supply oil to China

Ken-Ai-Oil Kyzylorda, owned by Kenelbek Igenbayev and Sabyr Seitkhanov, plans to supply oil produced in the Syrdarya district of the Kyzylorda region to China.

"The planned activity is the Taikazan field development project… Access to the export route (to China) is possible via the Kumkol-Atasu-Alashankou oil pipeline with an oil reception...

Ken-Ai-Oil Kyzylorda, owned by Kenelbek Igenbayev and Sabyr Seitkhanov, plans to supply oil produced in the Syrdarya district of the Kyzylorda region to China.

"The planned activity is the Taikazan field development project… Access to the export route (to China) is possible via the Kumkol-Atasu-Alashankou oil pipeline with an oil reception...

17.09.2024

Companies from USA and South Africa want to localise production in Kazakhstan

Production facilities for the production of goods most in demand in the oil and gas industry are being localised in Kazakhstan. The Ministry of Energy gave details.

In response to the readjustment request, it is reported that the facilities want to open before the end of 2027 with global companies. The...

Production facilities for the production of goods most in demand in the oil and gas industry are being localised in Kazakhstan. The Ministry of Energy gave details.

In response to the readjustment request, it is reported that the facilities want to open before the end of 2027 with global companies. The...

17.09.2024

Kazakhstan Petrochemical Industries Inc. trains specialists for petrochemical industry

Kazakhstan Petrochemical Industries Inc. (KPI) has established itself as a key player in Kazakhstan's petrochemical industry, demonstrating an innovative approach not only in production processes, but also in human resource management strategies. As the first joint venture (KazMunayGas and SIBUR) for deep processing of raw materials from the Tengiz field,...

Kazakhstan Petrochemical Industries Inc. (KPI) has established itself as a key player in Kazakhstan's petrochemical industry, demonstrating an innovative approach not only in production processes, but also in human resource management strategies. As the first joint venture (KazMunayGas and SIBUR) for deep processing of raw materials from the Tengiz field,...

17.09.2024

Kazakhstan's Atyrau refinery stops for repairs from October 1

Atyrau oil refinery will stop for scheduled repairs from October 1 to October 25, the Ministry of Energy of Kazakhstan reported on Monday.

"In accordance with the approved schedule of scheduled preventive maintenance for 2024, the Atyrau refinery is scheduled to be repaired from October 1 to October 25," the Ministry...

Atyrau oil refinery will stop for scheduled repairs from October 1 to October 25, the Ministry of Energy of Kazakhstan reported on Monday.

"In accordance with the approved schedule of scheduled preventive maintenance for 2024, the Atyrau refinery is scheduled to be repaired from October 1 to October 25," the Ministry...

17.09.2024

Brent remains stable on lower end on US output break

Oil prices stabilised on Monday as ongoing disruption to U.S. Gulf oil infrastructure balanced persistent demand concerns after a fresh round of Chinese data while investors await news on U.S. interest rates this week.

Brent crude futures for November were up 23 cents, or 0.32%, at $71.84 a barrel by 0934...

Oil prices stabilised on Monday as ongoing disruption to U.S. Gulf oil infrastructure balanced persistent demand concerns after a fresh round of Chinese data while investors await news on U.S. interest rates this week.

Brent crude futures for November were up 23 cents, or 0.32%, at $71.84 a barrel by 0934...

Metals and Minerals

17.09.2024

Eurasian Resources Group holds first hackathon in aluminium industry in Kazakhstan

Decades ago, academician Kanysh Satpayev wrote: "We do not think of science divorced from practice. The success of science lies in the fact that scientists work in conjunction with production workers and at the main facilities. This means that scientists should direct their efforts to large facilities of great economic...

Decades ago, academician Kanysh Satpayev wrote: "We do not think of science divorced from practice. The success of science lies in the fact that scientists work in conjunction with production workers and at the main facilities. This means that scientists should direct their efforts to large facilities of great economic...

17.09.2024

Sokolovsko-Sarbayskoye Mining and Processing Production Association increases supplies to Qarmet

Sokolovsko-Sarbayskoye Mining and Processing Production Association (SSGPO), part of the ERG owned by Alexander Mashkevich, Patokh Shodiev and the Ibragimov family, increased the supply of iron ore raw materials (pellets and iron ore concentrate) to the Karaganda Metallurgical Combine (Qarmet), owned by Andrey Lavrentiev, in January-August to 1.6 million tonnes...

Sokolovsko-Sarbayskoye Mining and Processing Production Association (SSGPO), part of the ERG owned by Alexander Mashkevich, Patokh Shodiev and the Ibragimov family, increased the supply of iron ore raw materials (pellets and iron ore concentrate) to the Karaganda Metallurgical Combine (Qarmet), owned by Andrey Lavrentiev, in January-August to 1.6 million tonnes...

17.09.2024

Bullion, silver hit fresh peaks on ailing US dollar

Gold prices charged to a record high on Monday as a weaker dollar and the prospects of aggressive U.S. monetary policy easing boosted non-yielding bullion's appeal.

Spot gold was up 0.1% at $2,579.09 an ounce by 1059 GMT after touching a record peak of $2,589.59. U.S. gold futures edged down by...

Gold prices charged to a record high on Monday as a weaker dollar and the prospects of aggressive U.S. monetary policy easing boosted non-yielding bullion's appeal.

Spot gold was up 0.1% at $2,579.09 an ounce by 1059 GMT after touching a record peak of $2,589.59. U.S. gold futures edged down by...

17.09.2024

Non-ferrous base metals mixed with demand in limbo

Aluminium prices rose through key resistance levels on Monday, supported by lower inventory, a weaker dollar and expectations the U.S. Federal Reserve will this week announce a bigger rate cut.

Three-month aluminium on the London Metal Exchange (LME) was up 1.8% at $2,515 a metric ton by 0943 GMT, the highest...

Aluminium prices rose through key resistance levels on Monday, supported by lower inventory, a weaker dollar and expectations the U.S. Federal Reserve will this week announce a bigger rate cut.

Three-month aluminium on the London Metal Exchange (LME) was up 1.8% at $2,515 a metric ton by 0943 GMT, the highest...

Manufacturing industry

17.09.2024

Industrial production decreases in six regions of Kazakhstan

In Kazakhstan, in January-August 2024, industrial production increased by 4.9% year-on-year, but a decrease was noted in six regions. Almaty showed the worst result among them, the figure is 6.5%. This follows from the data provided by the Bureau of National Statistics (BNS). Almaty showed a decline the following year,...

In Kazakhstan, in January-August 2024, industrial production increased by 4.9% year-on-year, but a decrease was noted in six regions. Almaty showed the worst result among them, the figure is 6.5%. This follows from the data provided by the Bureau of National Statistics (BNS). Almaty showed a decline the following year,...

17.09.2024

Kazakhstan's Pavlodar region builds new factories and plants

Three new projects are planned to be implemented in the Pavlodar region, with reference to the regional administration. The possibility of launching the production of high-purity battery grade manganese is being considered in the region.

"At the moment, Taza Metal Technologies is ready to build a new enterprise in the Aksu...

Three new projects are planned to be implemented in the Pavlodar region, with reference to the regional administration. The possibility of launching the production of high-purity battery grade manganese is being considered in the region.

"At the moment, Taza Metal Technologies is ready to build a new enterprise in the Aksu...

Trade and Consumer Goods

17.09.2024

Kazakhstan's trade turnover increases by 0.1%

By the end of July, Kazakhstan's foreign trade turnover decreased by 3%, to $12 billion compared to the end of the year, but compared to June, turnover increased by 3%. The indicator grew by 0.1% year-on-year. Exports also decreased by 5.2% compared to the end of the year, to $6.8...

By the end of July, Kazakhstan's foreign trade turnover decreased by 3%, to $12 billion compared to the end of the year, but compared to June, turnover increased by 3%. The indicator grew by 0.1% year-on-year. Exports also decreased by 5.2% compared to the end of the year, to $6.8...

Agriculture

17.09.2024

Urea production in Kazakhstan affects development of agriculture

Zhanna Almanova, Head of the Centre for Agrobioresources and Ecology Sciences of the National Academy of Sciences of Kazakhstan, PhD in Soil Science and Agrochemistry, spoke about the advantages of nitrogen fertilisers.

One of the key problems of crop production in Kazakhstan is definitely a shortage of fertilisers. Currently, domestic agriculture...

Zhanna Almanova, Head of the Centre for Agrobioresources and Ecology Sciences of the National Academy of Sciences of Kazakhstan, PhD in Soil Science and Agrochemistry, spoke about the advantages of nitrogen fertilisers.

One of the key problems of crop production in Kazakhstan is definitely a shortage of fertilisers. Currently, domestic agriculture...

17.09.2024

Kazakhstan digitizes processes of export and import of agricultural products

The Ministry of Agriculture plans to start digitizing the processes of passing agricultural goods across the border of Kazakhstan (export-import). This was reported in the press service of the department.

It is noted that these measures will ensure end-to-end traceability of all livestock products, electronic certification of animals and goods of...

The Ministry of Agriculture plans to start digitizing the processes of passing agricultural goods across the border of Kazakhstan (export-import). This was reported in the press service of the department.

It is noted that these measures will ensure end-to-end traceability of all livestock products, electronic certification of animals and goods of...

17.09.2024

US grain benchmarks undergo backlash from over speculation

Chicago wheat futures dipped from three-month highs on Monday although the market was underpinned by crop concerns in Europe and escalating tensions between Russia and Ukraine.

Corn and soybean futures also fell as the United States geared up for large harvests of both crops.

The most-active wheat contract on the Chicago Board...

Chicago wheat futures dipped from three-month highs on Monday although the market was underpinned by crop concerns in Europe and escalating tensions between Russia and Ukraine.

Corn and soybean futures also fell as the United States geared up for large harvests of both crops.

The most-active wheat contract on the Chicago Board...

Communications and Transportation

17.09.2024

Another door opens from Kazakhstan to China

A new route to China will be paved from Kazakhstan in the next three years. This was reported by the Ministry of Transport.

According to the ministry, the government is implementing the Bakhty Ayagoz project, which will open a third border crossing on the border with China. In addition, a railway...

A new route to China will be paved from Kazakhstan in the next three years. This was reported by the Ministry of Transport.

According to the ministry, the government is implementing the Bakhty Ayagoz project, which will open a third border crossing on the border with China. In addition, a railway...

17.09.2024

Kazakhstan connects to European Internet

Kazakhstan will receive alternative Internet access next year. According to the Ministry of Digital Development, the laying of fibre-optic communication lines (fibre optic lines) along the bottom of the Caspian Sea continues together with Azerbaijan.

It is expected that this will provide an alternative physical route to the Internet and connect...

Kazakhstan will receive alternative Internet access next year. According to the Ministry of Digital Development, the laying of fibre-optic communication lines (fibre optic lines) along the bottom of the Caspian Sea continues together with Azerbaijan.

It is expected that this will provide an alternative physical route to the Internet and connect...

17.09.2024

Kazakhtelecom replaces 300 thousand old routers with new ones for its customers

By the end of the year, Kazakhtelecom will replace 300 thousand old routers with new ones for its customers in order to improve the quality of the Internet. This was announced by the head of the company, Bagdat Musin, in his Telegram channel.

"When I came to Kazakhtelecom, I came across...

By the end of the year, Kazakhtelecom will replace 300 thousand old routers with new ones for its customers in order to improve the quality of the Internet. This was announced by the head of the company, Bagdat Musin, in his Telegram channel.

"When I came to Kazakhtelecom, I came across...

17.09.2024

Yandex sells telemedicine line to Genotek

Yandex sells telemedicine under the Yandex Health brand to Genotek, a company in the field of genetic research, the Internet company said in a statement. Telemedicine has been an experimental field for Yandex since 2016.

The amount of the transaction was not disclosed.

As part of the sale, Yandex will transfer the...

Yandex sells telemedicine under the Yandex Health brand to Genotek, a company in the field of genetic research, the Internet company said in a statement. Telemedicine has been an experimental field for Yandex since 2016.

The amount of the transaction was not disclosed.

As part of the sale, Yandex will transfer the...

Pharmaceutical and Healthcare News

17.09.2024

Egyptian EIPICO invests in construction of biopharmaceutical plant in Kazakhstan

Egyptian EIPICO is investing in the construction of a biopharmaceutical plant in Kazakhstan, with reference to the press service of the Ministry of Health.

"The Minister of Health of Kazakhstan Akmaral Alnazarova held a meeting with representatives of the Egyptian pharmaceutical company EIPICO. The parties discussed an investment project for the...

Egyptian EIPICO is investing in the construction of a biopharmaceutical plant in Kazakhstan, with reference to the press service of the Ministry of Health.

"The Minister of Health of Kazakhstan Akmaral Alnazarova held a meeting with representatives of the Egyptian pharmaceutical company EIPICO. The parties discussed an investment project for the...

Regional News

17.09.2024

Russian market turns green, but unlikely to maintain steady growth

The Russian stock market continued to grow on Monday, September 16, playing back the results of Friday's meeting of the Central Bank, at which the regulator made a compromise decision, raising the rate by 100 bps to 19%. The head of the Bank of Russia, Elvira Nabiullina, said that the...

The Russian stock market continued to grow on Monday, September 16, playing back the results of Friday's meeting of the Central Bank, at which the regulator made a compromise decision, raising the rate by 100 bps to 19%. The head of the Bank of Russia, Elvira Nabiullina, said that the...

17.09.2024

Millions of Russians risk to get unnecessary outrated diplomas

About a million people enrol in Russian universities every year, many of them risk getting outdated or unclaimed qualifications. Already today, more than a third of graduates do not find a place in the labour market. The situation can get much worse: the labour market in Russia is changing so...

About a million people enrol in Russian universities every year, many of them risk getting outdated or unclaimed qualifications. Already today, more than a third of graduates do not find a place in the labour market. The situation can get much worse: the labour market in Russia is changing so...

17.09.2024

Russians' spending on summer holidays increases to 67.4 thousand rouble per person this year

Spending by Russian tourists on summer holidays in 2024 amounted to 67.4 thousand rouble per person, which is 7% more than a year earlier, and 75% more than in 2022, said Kirill Rodin, Director of Public Relations at VTSIOM on Monday.

"We asked: estimate how much money was spent on your...

Spending by Russian tourists on summer holidays in 2024 amounted to 67.4 thousand rouble per person, which is 7% more than a year earlier, and 75% more than in 2022, said Kirill Rodin, Director of Public Relations at VTSIOM on Monday.

"We asked: estimate how much money was spent on your...

17.09.2024

China logs increase in value-added industrial output

China is likely to gradually introduce new policies to bolster quality-oriented growth in the near term, as the latest indicators suggest the economy is still feeling the pinch of lackluster demand and low confidence among investors and consumers, analysts said.

Existing policies are expected to be implemented in the following months...

China is likely to gradually introduce new policies to bolster quality-oriented growth in the near term, as the latest indicators suggest the economy is still feeling the pinch of lackluster demand and low confidence among investors and consumers, analysts said.

Existing policies are expected to be implemented in the following months...

17.09.2024

China's aggregate social financing figure for Januaray-August released

China's aggregate social financing — the total amount of financing to the real economy — stood at 21.9 trillion yuan ($3.09 trillion) during the January-August period, down 3.32 trillion yuan compared with the same period of last year, official data showed.

The People's Bank of China, the country's central bank, said on Friday...

China's aggregate social financing — the total amount of financing to the real economy — stood at 21.9 trillion yuan ($3.09 trillion) during the January-August period, down 3.32 trillion yuan compared with the same period of last year, official data showed.

The People's Bank of China, the country's central bank, said on Friday...

Prices and Statistics

17.09.2024

Commodities

Date: September 17, 2024; Source: Bloomberg.com
...

Date: September 17, 2024; Source: Bloomberg.com

17.09.2024

Exchange Rates

Date: September 17, 2024; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 480.61
1 EURO EUR / KZT 534.53
1 RUSSIAN ROUBLE RUB / KZT 5.28
1 CHINESE YUAN CNY / KZT 67.76
1 KYRGYZIAN SOM KGS / KZT 5.7
1 GREAT BRITAIN POUND GBP / KZT 634.07
1 CANADIAN DOLLAR CAD / KZT 354.01
1 AUSTRALIAN DOLLAR AUD / KZT 323.98
...

Date: September 17, 2024; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

480.61

1 EURO

EUR / KZT

534.53

1 RUSSIAN ROUBLE

RUB / KZT

5.28

1 CHINESE YUAN

CNY / KZT

67.76

1 KYRGYZIAN SOM

KGS / KZT

5.7

1 GREAT BRITAIN POUND

GBP / KZT

634.07

1 CANADIAN DOLLAR

CAD / KZT

354.01

1 AUSTRALIAN DOLLAR

AUD / KZT

323.98