The Honorary Consulate of the Republic of Kazakhstan has officially opened in Greater Manchester, marking a significant step toward enhancing regional ties between Kazakhstan and the United Kingdom. The opening ceremony was attended by members of Parliament, local political figures, and Kazakh representatives.

The newly established consulate aims to foster cooperation...

Mozambique Seeks to Enhance Cooperation with Kazakhstan.

Ambassador of the Republic of Kazakhstan to the Republic of Mozambique Yerkin Akhinzhanov met with the Minister of Foreign Affairs of Mozambique Verónica Nathaniel Makamo Dlhovo.

The meeting focused on the prospects for strengthening bilateral relations and identifying new areas for cooperation. Both nations share...

The Ambassador-Designate of Kazakhstan to Slovenia Presented Copies of Credentials.

The Ambassador-Designate of the Republic of Kazakhstan to the Republic of Slovenia Daniyar Sarekenov presented copies of his credentials to the Chief of Diplomatic Protocol of the Ministry of Foreign and European Affairs of the Republic of Slovenia Nataša Prah.

During the...

As of September 1, 2024, the pension savings of citizens of Kazakhstan in the Unified Accumulative Pension Fund (UAPF), formed at the expense of mandatory pension contributions (MPC), mandatory occupational pension contributions (MOPC) and voluntary pension contributions (VPC), reached 20.7 trillion tenge. Over the year, the amount increased by 23.7%.

96.94%...

Almost 10 billion tenge will be spent in Kazakhstan on innovative development in the next three years.

According to the budget program of the Ministry of Digital Development, the total amount of expenditures for 2024-2026 is 9.8 billion tenge. Including 4.9 billion tenge this year.

In the previous two years, 10.7 billion...

Deputy Prime Minister-Minister of Foreign Affairs of Kazakhstan Murat Nurtleu has met with President of the European Investment Bank Nadia Calviño in Luxembourg.

The meeting took place within the official visit of Murat Nurtleu to Luxembourg.

The sides discussed a wide range of issues, namely the implementation of investment and technological projects...

In 2025-2026, Kazakhstan will face three economic crises at once: budget, debt, and balance of payments crisis. This was stated by Director of the Institute of Economic Policy Kairbek Arystanbekov in an interview with the Voice of the People. He believes that the National Bank should devalue so that the...

In five years, Kazakhstan's external debt to the UAE has almost doubled. As of July 1, 2024, the republic's debt to other countries reached almost $166.6 billion. Whereas in the same period of 2019, this volume amounted to $158.3 billion. Thus, over the past five years, the growth has increased...

The Moscow Exchange (MOEX) has gotten rid of its stake (13.1%) in the Kazakhstan Stock Exchange (KASE), as announced by the Kazakhstani platform. MOEX stocks were sold to two Russian entities: Tetis Capital and Balance Asset Management, supervising Nigella and Levkoy closed-end investment funds. Currently, they hold 8.5% and 4.6008%...

Broker Halyk Finance rejected the information that he sent messages to citizens of Belarus and Russia about the possible blocking of their assets in connection with the anti-Russian sanctions of the United States.

"Information about sending notifications to clients residents of Russia and Belarus about possible asset blocking does not correspond...

Economic growth is slowing down in Kazakhstan due to lower government spending. AERC CEO Galymzhan Aitkazin came to this conclusion after studying the data of the Bureau of National Statistics on GDP by the end-use method. He gave his reasoning in the Telegram channel Tengenomika.

GDP, calculated by the end–use method,...

On October 1, the average daily dollar-tenge exchange rate was 480.35, and on October 10 it reached 491.74. Such a change in the exchange rate represents a serious weakening of the tenge, especially from the point of view of overcoming the psychological threshold of 490 USD/KZT. The reaction to this...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on October 14, 2024 at 17:00 amounted to 484.52 tenge. Compared with the data at 17:00 on October 11 (486.86 tenge per 1 dollar), the national currency strengthened by 2.34 tenge against the dollar.

According to KASE, at the...

Head of State Kassym-Jomart Tokayev received Chairman of the Board of QazaqGaz National Company Sanzhar Zharkeshov.

Zharkeshov reported on the company’s activities for the past nine months, the development of large investment projects and the transit potential of the country. 

He said construction of the second string of the Almaty -Baiserke -Talgar...

The Ministry of Energy has developed and the government has approved a roadmap for the development of the petrochemical industry, according to which the industry will increase output to 1.8 million tonnes by 2030, or five times compared to 2023.

"The Ministry of Energy has developed a Roadmap for the development...

Eskene LPG company plans to build an export pipeline for liquefied petroleum gas (LPG) with a length of 18.5 km from the existing Bolashak NCOC plant (operator of the Kashagan field) to the tank farm of the future LPG transhipment, processing and filling plant.

"The planned activities within the framework of...

Kazakhstan’s Ministry of Industry and Construction has discovered more than 100 rare metal deposits, including tungsten, molybdenum and lithium, according to a report from Khabar24, a Kazakhstani TV channel. Demand for lithium and other rare metals is expected to double in the coming years, making them increasingly valuable and strategically...

At the general meeting of KEGOC shareholders, it was decided to allocate 22 billion 684 million 120 thousand tenge for the payment of dividends for the first half of 2024. This is 64.5% of the energy monopoly's net income. The company notified KASE about this.

"It was decided to leave the...

In the North Kazakhstan region, a foreign investor faced difficulties in refunding VAT. This was told in the regional prosecutor's office.

In response to the editorial board's request, it is reported that two cases of a Turkish company are currently in the works, which has asked questions about VAT refunds and...

Kazakhstan continues to build five key cross-border hubs. The Ministry of Trade and Integration announced the details. According to the ministry, they will be located on the border with Kyrgyzstan, Uzbekistan, Russia, China and on the shores of the Caspian Sea.

In particular, a trade and logistics complex will be located...

Kassym-Jomart Tokayev has received Minister of Agriculture Aidarbek Saparov.

The Head of State was reported about the results of development of the country’s agricultural sector in 9 months of 2024.

According to the minister, the agrarians have already harvested 98% of croplands, while 25.2 million tons of grain were threshed out.  The...

The workload of oil processing enterprises has remained low in Kazakhstan for several years. In 2019, the use of the average annual capacity of equipment for the production of refined sunflower oil at such plants was within 32.9%, for the production of unrefined oil 44.3%. Four years later, by the...

In total, during the growing season, the Ministry of Water Resources and Irrigation supplied about 11.2 billion cubic metres of water to farmers in Kazakhstan, Kazinform agency reports with reference to the press service of the Government of Kazakhstan.

The irrigation season has officially ended in all regions of the country...

At a recent government meeting chaired by Deputy Prime Minister Serik Zhumangarin, the progress of dairy farm construction across Kazakhstan was reviewed. The meeting focused on replicating the successful model of North Kazakhstan's preferential lending system for dairy farm development under the "Big Project," which began in 2023.

The Big Project's first...

After seven years of growth, the production of motor vehicles in Kazakhstan decreased for the first time, and immediately by 16.8%, to 81 thousand cars in January-August 2024. For comparison, a year earlier there was an increase of 41.8%.

Traditionally, 90% of all vehicles produced were passenger cars. In January-August, their...

FlyArystan will use the new code assigned by the International Air Transport Association (IATA) FS on its flights from January 1, 2025. The airline did this in connection with the decision to separate from the parent structure of Air Astana. Previously, the low-cost airline used the KC code on its...

The Ministry of Digital Development of Kazakhstan has proposed changes to the rules for connecting to the Internet in public places. According to the draft order, users will be able to log in via a subscriber number or using the eGov system to access the network.

So, the new authorisation method...

In 2025, control over the implementation of budget investment projects in the field of construction will be strengthened, with reference to the press service of the Supreme Audit Chamber.

"Control over the implementation of budget investment projects in the field of construction will be strengthened from 2025. The relevant work was...

The cost of medicines and doctors' services has increased for Kazakhstanis. According to the Bureau of National Statistics, in September of this year, healthcare rose in price by 9.6% compared to the same month last year.

The services of specialist doctors in outpatient clinics have become more expensive by 9.5%, dentists...

Leading indicators (GDP proxy) point to the continued cooling of economic growth in Russia in August-September. A fresh weekly monitoring by analysts at the Institute of Transitional Economies of the Central Bank of Finland (BOFIT), based on estimates by the Ministry of Economy and the dynamics of output of basic...

The Russian stock market started the new week with uncertain dynamics in a narrow range. On Monday, October 14, by 14.45 Moscow time, the Moscow Stock Exchange index grows by 0.34% to 2,764.37 points. A possible increase in the Central Bank's key rate at the October meeting to 20% is...

More than a decade ago, the country set the goal of creating 25 million high-performance jobs. This was required to increase the efficiency of production and the standard of living of employees. By 2024, there are about 24 million such places. However, this did not help to reduce restrictions on...

The new tightening of the rules for the withdrawal of foreign owners from Russian assets will significantly slow down this process, experts interviewed by Kommersant believe. After increasing the discount on the transaction and the contribution to the budget to a total of 95% of the market value of the...

Regions with a low level of socio-economic development and budgetary security can receive subsidies from the federal budget to finance infrastructure within the framework of integrated territorial development (ITD), according to a document prepared by the Ministry of Construction. According to experts, poor regions really need support in this regard...

The demographic trend the growing propensity of Russians to live alone can become a problem for the financial sector: the propensity of such people to save is lower, and the motives are more unpredictable and depend little on economic factors, a new scientific report published by the Bank of Russia...

Russia hopes to create a system of cross-border settlements, at least with friendly BRICS countries, that is resistant to American sanctions. The Russian project is based on a network of local banks independent of the dollar to conduct direct cross-border transfers in national currencies. Such a settlement system will save...

China will strengthen financial support for enterprises, taking into account their reputation in the field of quality, Luo Wen, head of the State Administration for Market Regulation of the People's Republic of China, said at a press conference on Monday.

Financial institutions will take into account the quality assurance capabilities, quality...

According to the Chinese Centre for Foreign Exchange Transactions, today, compared with the previous trading day, the central parity rate of the Chinese yuan against the US dollar strengthened by 8 basis points to 7,0723 yuan per dollar.

On the previous trading day, the exchange rate of the yuan against the...

Trading on Chinese stock exchanges ended on Monday with an increase in quotations. The Shanghai Composite index, reflecting the situation on the Shanghai Stock Exchange, increased by 2.07%. compared with the results of the previous trading day, up to 3284.32 points.

The Shenzhen Component indicator, which is an indicator of business...

In the first three quarters of this year, the total volume of imports and exports of goods in China increased by 5.3%. in yuan in annual terms, official data showed on Monday.

According to the data of the State Statistical Office/GSU/PRC, the volume of trade in goods increased to 32.33 trillion...

Date: October 15, 2024; Source: the National Bank of Kazakhstan