Issue 4457 - 24.05.2024
24.05.2024

Kazakh President took part in the closing ceremony of the Kazakhstan-Singapore Business Forum

Addressing those gathered the Head of State said Kazakhstan is a country with economic reforms like Singapore, Kazakhstan has huge untapped potential and a dynamically developing economy.

Kazakhstan started large-scale reforms aimed at developing a free market, encouraging innovations and transferring to the knowledge-based economy. These reforms conform to the highest international standards, including the OECD standards. Recently I signed an important decree for significant liberalization of the national economy. We launch a new investment cycle with a strategic goal to attract 150 billion US dollars in direct foreign investments by 202 to let Kazakhstan remain a key regional center for the attraction of investments, the Head of State said. He said to this end Kazakhstan created the Investment Council to curate strategic investment projects.

The Head of State said despite geographic distance Kazakhstan and Singapore have always been and remain close economic and political partners.

He added last year the bilateral commodity turnover between Kazakhstan and Singapore reached 1.8 billion US dollars. Singapore’s investment in Kazakhstan exceeded 1.7 billion US dollars.

Kassym-Jomart Tokayev outlined several promising directions for cooperation. He believes the construction of a new integrated megacity in Kazakhstan is an ambitious project. The project designed as the Singapore of Central Asia is called to turn into a leading international business hub. Its territory covering 1,000 square km will be developed as a special economic zone. The project's master plan was elaborated by Singapore’s Surbana Jurong.

By Kazinform

According to the Kazakh President, there are great opportunities for interaction in the field of biotechnology and medicine.

Our pharmaceutical market is among fastest growing in the region. Many leading world companies such as Pfizer, Roche, GE Healthcare and Philips plan to localize production of pharmaceuticals and medical equipment. We welcome the plans of the Baiterek national holding and Forebright company to establish an investment fund to fund joint studies as well as produce pharmaceuticals and biological products, said the Head of State.

Another promising area contributing to greater productivity and economic growth is the digital sector. According to Tokayev, Kazakhstan following the example of Singapore seeks to turn into a leading technological and IT hub in the Eurasian continent.

In particular, Kazakhstan aims for large-scale cooperation in spheres such as R&D projects, startups, education to create new integrated IT projects, especially in the AI field. In conclusion, the Kazakh President drew attention to competitive advantages the Astana International Financial Center (AIFC) has in investment promotion.

Presently, there are over two thousand companies from 80 countries working in the AIFC, attracting investment capital to Kazakhstan and the entire region. Over 30 Singaporean companies are AIFC residents. I believe that their number will rise in the future. The Financial Center actively cooperates with the Monetary Authority of Singapore to promote mutually beneficial partnership in fields of fintech, green finance and Islamic banking. Creation of the Kazakhstan-Singapore Direct Investment Fund in the AIFC could serve as a platform for financing joint enterprises in both countries, concluded the Kazakh President.

Following the Forum, a ceremony of signature of commercial documents took place in presence of Head of State Tokayev and Singapore’s deputy Prime Minister – Coordinating Minister for Economic Policies Heng Sui Keata.

The documents signed as follow:

1. Agreement on strategic cooperation between Kazpost JSC and SingPost;

2. Declaration on launch of a digital corridor between KTZ Express JSC and Global DTC;

3. Memorandum on further cooperation between Kazakhstan Temir Zholy JSC and PSA KZ Pte Ltd, KPMC Ltd and G-trans Service;

4. Investment agreement on the Forebright Life Science Technology Fund between Forebright Capital Asia Private Limited, АО Qazaqstan Investment Corporation and BGI Hong Kong Tech Co., Limited;

5. Agreement between Biryuk Altyn and AlDigi Holdings Pte. Ltd.;

6. Memorandum of mutual understanding between the Foreign Trade Chamber of Kazakhstan and the Singaporean Manufacturing Federation;

7. Memorandum of mutual understanding and cooperation between Caspian Group JSC and China Regional Development and Planing Institute Co., Limited;

8. Memorandum of mutual understanding between Caspian Group JSC and KPMG Samjong Accounting Corp.;

9. Cooperation agreement between Mandarin building, Singapore International School Kazakhstan LLP and Kinder World International Group;

10. Memorandum of mutual understanding between the Kazakh Ministry of Digital Development, Innovation and Aerospace Industry and Nomadic Innovation Hub;

11. Investment agreement between Nomadic Innovation Hub and Clockster;

12. Investment agreement between Nomadic Innovation Hub and Snap hunt recruitment platform.

By Kazinform

Kazakhstan General

24.05.2024

Head of State held a meeting with Prime Minister of Singapore Lawrence Wong

Kassym-Jomart Tokayev congratulated Lawrence Wong on his recent appointment as the Prime Minister of Singapore and wished him success in his governmental activity.

The Kazakh President said Singapore had been Kazakhstan’s strategic partner in Southeastern Asia and highly appreciated longstanding partnership between the two countries.

"We attach great importance to our multifaceted...

Kassym-Jomart Tokayev congratulated Lawrence Wong on his recent appointment as the Prime Minister of Singapore and wished him success in his governmental activity.

The Kazakh President said Singapore had been Kazakhstan’s strategic partner in Southeastern Asia and highly appreciated longstanding partnership between the two countries.

"We attach great importance to our multifaceted...

24.05.2024

Kazakh President and President of Singapore held talks

Kazakh President Kassym-Jomart Tokayev and President of Singapore Tharman Shanmugaratnam held talks.

The Head of State thanked for the warm welcome noting that it is the first visit of the President of Kazakhstan to Singapore in more than 20 years. He underlined that he knows Singapore well as he worked there...

Kazakh President Kassym-Jomart Tokayev and President of Singapore Tharman Shanmugaratnam held talks.

The Head of State thanked for the warm welcome noting that it is the first visit of the President of Kazakhstan to Singapore in more than 20 years. He underlined that he knows Singapore well as he worked there...

24.05.2024

Kazakhstan and Singapore sign 6 documents

The Head of State, Kassym-Jomart Tokayev, and Prime Minister of Singapore Lawrence Wong held talks.

The parties debated the strengthening of cooperation in the sphere of education and science, including cooperation between universities, exchange of students, etc.

The sides also agreed on joint efforts to expand ties between the business circles of...

The Head of State, Kassym-Jomart Tokayev, and Prime Minister of Singapore Lawrence Wong held talks.

The parties debated the strengthening of cooperation in the sphere of education and science, including cooperation between universities, exchange of students, etc.

The sides also agreed on joint efforts to expand ties between the business circles of...

24.05.2024

Kazakhstan and Russia strengthen cooperation in Foreign Policy Planning

As part of agreements’ implementation between the Ministries of Foreign Affairs of Kazakhstan and the Russian Federation, consultations on foreign policy planning issues were held in Astana at Department directors’ level.

Kazakh side was represented by Head of the Department of Foreign Policy Analysis and Strategic Planning of Kazakhstan MFA Anuarbek...

As part of agreements’ implementation between the Ministries of Foreign Affairs of Kazakhstan and the Russian Federation, consultations on foreign policy planning issues were held in Astana at Department directors’ level.

Kazakh side was represented by Head of the Department of Foreign Policy Analysis and Strategic Planning of Kazakhstan MFA Anuarbek...

24.05.2024

Political will elementary Kazakhstan’s Green Economy Transition

Political leadership and effective policies could be pivotal in driving Kazakhstan’s transition to a green economy, similar to the successful approach in Latin America, said Andrés Rebolledo, the executive secretary of the Latin American Energy Organization (OLADE) and Honorary Consul of Kazakhstan in Chile in an interview with The Astana...

Political leadership and effective policies could be pivotal in driving Kazakhstan’s transition to a green economy, similar to the successful approach in Latin America, said Andrés Rebolledo, the executive secretary of the Latin American Energy Organization (OLADE) and Honorary Consul of Kazakhstan in Chile in an interview with The Astana...

Finance and Investment

24.05.2024

Kazakh President, Singapore Deputy PM cover new economic cooperation prospects

The President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, met with Deputy Prime Minister and Coordinating Minister for Economic Policies of Singapore Heng Swee Keat.

During the meeting, the Head of State expressed gratitude to the Government of Singapore for organizing the Kazakhstan-Singapore Business Forum. President Tokayev stated this event would...

The President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, met with Deputy Prime Minister and Coordinating Minister for Economic Policies of Singapore Heng Swee Keat.

During the meeting, the Head of State expressed gratitude to the Government of Singapore for organizing the Kazakhstan-Singapore Business Forum. President Tokayev stated this event would...

24.05.2024

Kazakh President receives Temasek Holdings director general Dilhan Pillay Sandrasegara

President of Kazakhstan Kassym-Jomart Tokayev met Temasek Holdings director general Dilhan Pillay Sandrasegara to discuss prospects for building a strategic partnership between the Samruk Kazyna Fund and Temasek Holdings.

The Head of State said it will contribute to expanding business ties and encouraging economic growth. He said Kazakhstan is interested in...

President of Kazakhstan Kassym-Jomart Tokayev met Temasek Holdings director general Dilhan Pillay Sandrasegara to discuss prospects for building a strategic partnership between the Samruk Kazyna Fund and Temasek Holdings.

The Head of State said it will contribute to expanding business ties and encouraging economic growth. He said Kazakhstan is interested in...

24.05.2024

Mobile banking approaches peak in Kazakhstan

As of April 1, 2024, the number of active users of online banking services amounted to 23.3 million. Compared to the same period last year, there is a slight increase. Over two years, the increase in the number of active mobile banking users was 15.1%. Such dynamics indicate approaching the...

As of April 1, 2024, the number of active users of online banking services amounted to 23.3 million. Compared to the same period last year, there is a slight increase. Over two years, the increase in the number of active mobile banking users was 15.1%. Such dynamics indicate approaching the...

24.05.2024

Kazakhstanis can receive loans on new terms

The lending market is changing in Kazakhstan. Senator Sergei Karplyuk presented amendments to the legislation to protect the rights of borrowers.

“The law provides for several blocks of changes, which include the introduction of a ban on banks and microfinance organisations to provide loans to citizens if they already have problem...

The lending market is changing in Kazakhstan. Senator Sergei Karplyuk presented amendments to the legislation to protect the rights of borrowers.

“The law provides for several blocks of changes, which include the introduction of a ban on banks and microfinance organisations to provide loans to citizens if they already have problem...

24.05.2024

Weighted average US dollar rate on Kazakhstan Stock Exchange amounts to 442.96 tenge

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on May 23, 2024 at 17:00 amounted to 442.96 tenge. Compared to the data at 17:00 on May 22 (441.79 tenge per 1 dollar), the national currency weakened by 1.10 tenge against the dollar.

According to KASE information, the...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on May 23, 2024 at 17:00 amounted to 442.96 tenge. Compared to the data at 17:00 on May 22 (441.79 tenge per 1 dollar), the national currency weakened by 1.10 tenge against the dollar.

According to KASE information, the...

24.05.2024

Advancing greenback keeps stock markets subdued

The dollar rose against the euro on Thursday after data showed U.S. business activity accelerated to the highest level in just over two years in May, suggesting that economic growth picked up half-way through the second quarter.

S&P Global said that its flash U.S. Composite PMI Output Index, which tracks the...

The dollar rose against the euro on Thursday after data showed U.S. business activity accelerated to the highest level in just over two years in May, suggesting that economic growth picked up half-way through the second quarter.

S&P Global said that its flash U.S. Composite PMI Output Index, which tracks the...

Oil and Gas Sector

24.05.2024

15 countries buy Kazakhstan’s crude oil

South Korea and Spain began to purchase less Kazakh oil. In the first quarter of this year, more than 17.8 million tonnes of black gold were exported from the country, which is 7.5% more than in the same period last year. In money terms, the figure increased by 6%, to...

South Korea and Spain began to purchase less Kazakh oil. In the first quarter of this year, more than 17.8 million tonnes of black gold were exported from the country, which is 7.5% more than in the same period last year. In money terms, the figure increased by 6%, to...

24.05.2024

KazMunayGas increases investments in geological exploration by 40%

KazMunayGas (a subsidiary of Samruk-Kazyna) will invest $191 million in geological exploration in 2024, compared to $135 million in 2023, by drilling 17 exploration and appraisal wells.

“USD191 million is planned to be invested in geological exploration in 2024. It is planned: to drill the first exploratory well in the Turgai...

KazMunayGas (a subsidiary of Samruk-Kazyna) will invest $191 million in geological exploration in 2024, compared to $135 million in 2023, by drilling 17 exploration and appraisal wells.

“USD191 million is planned to be invested in geological exploration in 2024. It is planned: to drill the first exploratory well in the Turgai...

24.05.2024

Russian refinery in Bulgaria increases purchases of Kazakh oil after ban on buying raw materials from Russia

The oil refinery of the Russian Lukoil in Bulgaria increased purchases of Kazakh oil after the country banned the purchase of oil from Russia, the Russian publication Vedomosti reports.

In May of this year, Kazakhstan became the largest supplier of oil to Bulgaria: the Lukoil Neftochim Burgas plant purchased about 80.4...

The oil refinery of the Russian Lukoil in Bulgaria increased purchases of Kazakh oil after the country banned the purchase of oil from Russia, the Russian publication Vedomosti reports.

In May of this year, Kazakhstan became the largest supplier of oil to Bulgaria: the Lukoil Neftochim Burgas plant purchased about 80.4...

24.05.2024

Kulibayev's oil company appoints former top manager of Pavlodar oil refinery to board of directors

Timur Kulibayev's oil producing company Kristall Management has changed the composition of the board of directors. It included Azamat Temirgalin, a former top manager of the Pavlodar Petrochemical Plant (known as the Pavlodar Oil Refinery), according to a message on KASE.

From 2020 to August 2021, Azamat Temirgalin was the head...

Timur Kulibayev's oil producing company Kristall Management has changed the composition of the board of directors. It included Azamat Temirgalin, a former top manager of the Pavlodar Petrochemical Plant (known as the Pavlodar Oil Refinery), according to a message on KASE.

From 2020 to August 2021, Azamat Temirgalin was the head...

24.05.2024

Brent stays stagnant at $82/b

Oil prices were little changed on Thursday after the minutes of a U.S. Federal Reserve meeting revealed discussions of a further tightening of interest rates if inflation remained sticky, a move that could hurt oil demand.

Brent crude futures were up 10 cents, or 0.1%, at $82.00 a barrel by 0850...

Oil prices were little changed on Thursday after the minutes of a U.S. Federal Reserve meeting revealed discussions of a further tightening of interest rates if inflation remained sticky, a move that could hurt oil demand.

Brent crude futures were up 10 cents, or 0.1%, at $82.00 a barrel by 0850...

Metals and Minerals

24.05.2024

Kazakhstan is ready to supply critical raw materials and resources to Singapore – Kazakh President

Kazakh leader Kassym-Jomart Tokayev stated the readiness of Kazakhstan to provide supplies of critical raw materials and natural resources to Singapore.

Given the fact that the global demand for rare metals will rise by four times by 2040, Kazakhstan, that holds around 5,000 unexplored deposits, could become a reliable partner for...

Kazakh leader Kassym-Jomart Tokayev stated the readiness of Kazakhstan to provide supplies of critical raw materials and natural resources to Singapore.

Given the fact that the global demand for rare metals will rise by four times by 2040, Kazakhstan, that holds around 5,000 unexplored deposits, could become a reliable partner for...

24.05.2024

Metallurgical plant appears in Kazakhstan's Shymkent

A plant will appear in Shymkent for $1.7 billion. According to the city administration, the project will be implemented by Fujian Hengwang Investment Co., Ltd on the territory of the Temir industrial zone. It is expected that the metallurgical plant will be built and commissioned within five years. In general,...

A plant will appear in Shymkent for $1.7 billion. According to the city administration, the project will be implemented by Fujian Hengwang Investment Co., Ltd on the territory of the Temir industrial zone. It is expected that the metallurgical plant will be built and commissioned within five years. In general,...

24.05.2024

Kazakh Qarmet buys plant for recycling old cars

A plant for recycling old cars in Karaganda, which previously belonged to Aliya Nazarbayeva, was sold at an auction to Andrey Lavrentyev’s Qarmet company, Kursiv was told in the Karaganda Department of State Property and Privatisation.

The department has already concluded a purchase and sale agreement with Qarmet, and the transfer...

A plant for recycling old cars in Karaganda, which previously belonged to Aliya Nazarbayeva, was sold at an auction to Andrey Lavrentyev’s Qarmet company, Kursiv was told in the Karaganda Department of State Property and Privatisation.

The department has already concluded a purchase and sale agreement with Qarmet, and the transfer...

24.05.2024

Kazakhstan’s decarbonisation quest challenges mining industry

Kazakhstan is actively joining global efforts to combat climate change by taking measures to achieve carbon neutrality. Critical milestones of this process are marked by the adoption of the Concept of Transition to a Green Economy in 2013, the ratification of the Paris Agreement in 2016, and the recent approval...

Kazakhstan is actively joining global efforts to combat climate change by taking measures to achieve carbon neutrality. Critical milestones of this process are marked by the adoption of the Concept of Transition to a Green Economy in 2013, the ratification of the Paris Agreement in 2016, and the recent approval...

24.05.2024

Bullion and peers retreat on firmer US dollar

Gold prices declined to a one-week low on Thursday, extending their fall a third consecutive session on profit taking after minutes from Federal Reserve's latest meeting indicated that interest rates would stay higher for longer.

Spot gold fell 0.7% to $2,361.76 per ounce as of 0939 GMT, after hitting its lowest...

Gold prices declined to a one-week low on Thursday, extending their fall a third consecutive session on profit taking after minutes from Federal Reserve's latest meeting indicated that interest rates would stay higher for longer.

Spot gold fell 0.7% to $2,361.76 per ounce as of 0939 GMT, after hitting its lowest...

24.05.2024

Ferrous, coal benchmarks retreat pending China state intervention’s effects

Iron ore futures declined on Thursday, tracking a weaker base and precious metals market as a stronger U.S. dollar fuelled a broad risk-off appetite.

The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) ended morning trade 1.09% lower at 906.5 yuan ($125.13) a metric ton.

The benchmark June iron ore on...

Iron ore futures declined on Thursday, tracking a weaker base and precious metals market as a stronger U.S. dollar fuelled a broad risk-off appetite.

The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) ended morning trade 1.09% lower at 906.5 yuan ($125.13) a metric ton.

The benchmark June iron ore on...

24.05.2024

Profit taking pulls non-fertrous base metals down

Copper prices fell for a third consecutive session as profit-taking continued on Thursday and consumers refused to buy at near-record levels.

Three-month copper on the London Metal Exchange (LME) was down 0.9% at $10,330 a metric ton by 1036 GMT. It has fallen 7% since surging to an all-time high of...

Copper prices fell for a third consecutive session as profit-taking continued on Thursday and consumers refused to buy at near-record levels.

Three-month copper on the London Metal Exchange (LME) was down 0.9% at $10,330 a metric ton by 1036 GMT. It has fallen 7% since surging to an all-time high of...

Manufacturing industry

24.05.2024

Kazakhstan's Atyrau region plans to establish production of carriages

The production of freight cars will be established in the Atyrau region. The regional administration spoke about this.

According to the information provided, the project is estimated at 76 billion tenge. The production of railway freight cars is expected to start in 2027. The enterprise will create 1.7 thousand jobs. Implementation...

The production of freight cars will be established in the Atyrau region. The regional administration spoke about this.

According to the information provided, the project is estimated at 76 billion tenge. The production of railway freight cars is expected to start in 2027. The enterprise will create 1.7 thousand jobs. Implementation...

24.05.2024

Two new factories appear in Karaganda region of Kazakhstan

In the Karaganda region they plan to implement two projects by the end of this year. The first production will be launched on the basis of a former metal structures plant in Shakhtinsk. According to the city administration, it is planned to open a foundry of small moulds here.

The second...

In the Karaganda region they plan to implement two projects by the end of this year. The first production will be launched on the basis of a former metal structures plant in Shakhtinsk. According to the city administration, it is planned to open a foundry of small moulds here.

The second...

Trade and Consumer Goods

24.05.2024

Retail sales in Kazakhstan already exceed 5 trillion tenge

The volume of retail trade in Kazakhstan for January-April 2024 reached 5.4 trillion tenge, 12.1% more in monetary terms than for the same period in 2023 (PVI at 105.2%). A year earlier, there was an immediate increase of 31% in monetary terms (PVI at 110.5%).

The share of retail in the...

The volume of retail trade in Kazakhstan for January-April 2024 reached 5.4 trillion tenge, 12.1% more in monetary terms than for the same period in 2023 (PVI at 105.2%). A year earlier, there was an immediate increase of 31% in monetary terms (PVI at 110.5%).

The share of retail in the...

Agriculture

24.05.2024

Food prices in Kazakhstan increase by 6% over year

Prices for socially important food products (SFP) in Kazakhstan as of May 14 of this year have increased by 0.3% since the beginning of the year, although compared to the same period in 2023 they decreased by 0.4%.

In weekly dynamics, prices for onions (by 8.7%), potatoes (by 4.4%) and carrots...

Prices for socially important food products (SFP) in Kazakhstan as of May 14 of this year have increased by 0.3% since the beginning of the year, although compared to the same period in 2023 they decreased by 0.4%.

In weekly dynamics, prices for onions (by 8.7%), potatoes (by 4.4%) and carrots...

24.05.2024

Ministry of Agriculture warns farmers in three regions of Kazakhstan about invasion of dangerous locusts

The Ministry of Agriculture predicts the spread of herd locusts over an area of 2.5 million hectares. Dangerous pests threaten farmers in the Aktobe, Kostanay and Turkestan regions. This year, 8.1 billion tenge were allocated from the national reserve to fight locusts.

More than 270 species of locust insects live in...

The Ministry of Agriculture predicts the spread of herd locusts over an area of 2.5 million hectares. Dangerous pests threaten farmers in the Aktobe, Kostanay and Turkestan regions. This year, 8.1 billion tenge were allocated from the national reserve to fight locusts.

More than 270 species of locust insects live in...

24.05.2024

US wheat contract continues advance on Black Sea jitters

Chicago Board of Trade wheat futures extended gains on Thursday after reaching a 10-month peak a day earlier, as lingering dryness and worries over the Black Sea crop continued to underpin the market.

However, some traders said it looks like the market is losing momentum.

Reduced forecasts for Russia’s wheat production fueled...

Chicago Board of Trade wheat futures extended gains on Thursday after reaching a 10-month peak a day earlier, as lingering dryness and worries over the Black Sea crop continued to underpin the market.

However, some traders said it looks like the market is losing momentum.

Reduced forecasts for Russia’s wheat production fueled...

Communications and Transportation

24.05.2024

Germany’s Rhenus Group interested in new projects with Kazakhstan

Prime Minister of Kazakhstan Olzhas Bektenov held a meeting with Chairman of the Board of Germany’s Rhenus Group Tobias Bartz to discuss cooperation in transport and logistics.

During the meeting, the ongoing projects as well as prospects for creation of new Kazakh-German enterprises aiming at boosting the transit capacity of Kazakhstan...

Prime Minister of Kazakhstan Olzhas Bektenov held a meeting with Chairman of the Board of Germany’s Rhenus Group Tobias Bartz to discuss cooperation in transport and logistics.

During the meeting, the ongoing projects as well as prospects for creation of new Kazakh-German enterprises aiming at boosting the transit capacity of Kazakhstan...

24.05.2024

Cars become cheaper in Kazakhstan

Kazakhstanis have become less active in purchasing cars. Because of this, dealers began offering more discounts and lowering prices. CEO of Astana Motors Beknur Nesipbaev told the details.

In a conversation with a correspondent, he explained that now all official sellers have begun to provide various kinds of financial programs and...

Kazakhstanis have become less active in purchasing cars. Because of this, dealers began offering more discounts and lowering prices. CEO of Astana Motors Beknur Nesipbaev told the details.

In a conversation with a correspondent, he explained that now all official sellers have begun to provide various kinds of financial programs and...

24.05.2024

Speed cameras appear on national highways of Kazakhstan

New speed cameras have appeared on the national highways of Kazakhstan. Information about speeding will be transmitted to law enforcement agencies, the KazAvtoZhol press service reports.

“In order to ensure road safety on highways of national significance, a decision was made to record violations of the speed limit on sections of...

New speed cameras have appeared on the national highways of Kazakhstan. Information about speeding will be transmitted to law enforcement agencies, the KazAvtoZhol press service reports.

“In order to ensure road safety on highways of national significance, a decision was made to record violations of the speed limit on sections of...

24.05.2024

Kazakhtelecom completes payment of dividends for 2023

The country's leading telecom operator Kazakhtelecom announced the successful completion of the process of paying dividends for 2023. The dividend per preferred share amounted to 1,796.6 tenge, while the dividend per common share amounted to 2,096.6 tenge.

For holders of preferred securities, the same amount of payments was provided as for...

The country's leading telecom operator Kazakhtelecom announced the successful completion of the process of paying dividends for 2023. The dividend per preferred share amounted to 1,796.6 tenge, while the dividend per common share amounted to 2,096.6 tenge.

For holders of preferred securities, the same amount of payments was provided as for...

24.05.2024

Planet Russia project may ease burden from oil sector

The achievement of national goals, which are formulated in the new May decree of Russian President Vladimir Putin, may be hampered by external and internal factors. In the coming years, our country will face increased global competition and conflict, a change in the structure of world markets and a compression...

The achievement of national goals, which are formulated in the new May decree of Russian President Vladimir Putin, may be hampered by external and internal factors. In the coming years, our country will face increased global competition and conflict, a change in the structure of world markets and a compression...

Regional News

24.05.2024

Russian rouble may strengthen to 88 per dollar in coming month

The situation is repeating last year, when in May there was a local strengthening of the Russian rouble to 75 per dollar. The key factors supporting the rouble at present are: the extension of the government decree on the mandatory sale of foreign currency earnings by Russian exporters, a seasonal...

The situation is repeating last year, when in May there was a local strengthening of the Russian rouble to 75 per dollar. The key factors supporting the rouble at present are: the extension of the government decree on the mandatory sale of foreign currency earnings by Russian exporters, a seasonal...

24.05.2024

Russian industry loses demand

The first estimates of the survey indicator of industrial optimism in May 2024, made by the Institute of National Economic Forecasting of the Russian Academy of Sciences (previously carried out by the Gaidar Institute), record a noticeable decrease in the indicator in May (as of May 21) actually to the...

The first estimates of the survey indicator of industrial optimism in May 2024, made by the Institute of National Economic Forecasting of the Russian Academy of Sciences (previously carried out by the Gaidar Institute), record a noticeable decrease in the indicator in May (as of May 21) actually to the...

24.05.2024

Forces of bulls and bears on Russian market come to balance

On Thursday, May 23, the drain of Gazprom shares continued: the security fell by another 3.12% to 135 rouble the holding’s board of directors, as expected, recommended not to pay dividends for 2023. However, active purchases in other index securities allowed the Russian market to level out the decline. At...

On Thursday, May 23, the drain of Gazprom shares continued: the security fell by another 3.12% to 135 rouble the holding’s board of directors, as expected, recommended not to pay dividends for 2023. However, active purchases in other index securities allowed the Russian market to level out the decline. At...

24.05.2024

Politics, US monetary moves subdue yuan

China’s yuan slipped on Thursday to hover near a three-week low, as the dollar firmed following hawkish Federal Reserve minutes, while tensions around Taiwan also kept investors nervous.

Prior to the market open, the People’s Bank of China (PBoC) set the midpoint rate, around which the yuan is allowed to trade...

China’s yuan slipped on Thursday to hover near a three-week low, as the dollar firmed following hawkish Federal Reserve minutes, while tensions around Taiwan also kept investors nervous.

Prior to the market open, the People’s Bank of China (PBoC) set the midpoint rate, around which the yuan is allowed to trade...

24.05.2024

Global economic controversy pulls China stock markets down

China and Hong Kong stocks closed down on Thursday, tracking regional markets lower as investors digested the implications of policymakers in major economies preferring to take a patient approach to monetary easing amid sticky inflation.

Geopolitical tensions also kept investors nervous as China's military started two days of "punishment" drills held in five...

China and Hong Kong stocks closed down on Thursday, tracking regional markets lower as investors digested the implications of policymakers in major economies preferring to take a patient approach to monetary easing amid sticky inflation.

Geopolitical tensions also kept investors nervous as China's military started two days of "punishment" drills held in five...

24.05.2024

China's public offering fund value hits 30.78 trln yuan

Assets under the management of China's public offering funds totaled 30.78 trillion yuan (about 4.33 trillion U.S. dollars) by the end of April, data from the Asset Management Association of China showed Thursday.

In comparison with the end of March, the figure saw an increase from 29.2 trillion yuan, the data...

Assets under the management of China's public offering funds totaled 30.78 trillion yuan (about 4.33 trillion U.S. dollars) by the end of April, data from the Asset Management Association of China showed Thursday.

In comparison with the end of March, the figure saw an increase from 29.2 trillion yuan, the data...

24.05.2024

China outlines measures to reduce business costs

China's National Development and Reform Commission and three other state agencies announced a series of measures on Thursday to lower business costs nationwide this year.

The country will appropriately reduce import tariffs on advanced technological equipment and resources, while cracking down on irregular fees charged by government departments, industry associations, financial...

China's National Development and Reform Commission and three other state agencies announced a series of measures on Thursday to lower business costs nationwide this year.

The country will appropriately reduce import tariffs on advanced technological equipment and resources, while cracking down on irregular fees charged by government departments, industry associations, financial...

24.05.2024

China reports steep growth in overseas investment

China saw accelerated overseas investment in the first four months of 2024, official data showed on Thursday, indicating the country's broadened engagement in cooperation on the global market.

China's non-financial outbound direct investment (ODI) came in at 343.47 billion yuan (48.3 billion U.S. dollars) from January to April, up 18.7 percent...

China saw accelerated overseas investment in the first four months of 2024, official data showed on Thursday, indicating the country's broadened engagement in cooperation on the global market.

China's non-financial outbound direct investment (ODI) came in at 343.47 billion yuan (48.3 billion U.S. dollars) from January to April, up 18.7 percent...

Prices and Statistics

24.05.2024

Commodities

Date: May 24, 2024; Source: Bloomberg.com

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Date: May 24, 2024; Source: Bloomberg.com

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24.05.2024

Exchange Rates

Date: May 24, 2024; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 443.03
1 EURO EUR / KZT 480.38
1 RUSSIAN ROUBLE RUB / KZT 4.91
1 CHINESE YUAN CNY / KZT 61.19
1 KYRGYZIAN SOM KGS / KZT 5.03
1 GREAT BRITAIN POUND GBP / KZT 563.67
1 CANADIAN DOLLAR CAD / KZT 324.14
1 AUSTRALIAN DOLLAR AUD / KZT 294.17
...

Date: May 24, 2024; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

443.03

1 EURO

EUR / KZT

480.38

1 RUSSIAN ROUBLE

RUB / KZT

4.91

1 CHINESE YUAN

CNY / KZT

61.19

1 KYRGYZIAN SOM

KGS / KZT

5.03

1 GREAT BRITAIN POUND

GBP / KZT

563.67

1 CANADIAN DOLLAR

CAD / KZT

324.14

1 AUSTRALIAN DOLLAR

AUD / KZT

294.17