During the meeting, the Kazakh Head of State noted that a stable dialogue has developed between the countries on the entire spectrum of interstate relations. 

According to him, the agreements reached during the recent official visit of Russian President Vladimir Putin to Astana once again confirmed the mutual desire to comprehensively...

President of Kazakhstan Kassym-Jomart Tokayev, during a conversation with ambassador of the People's Republic of China to Kazakhstan Zhang Xiao noted the positive dynamics of the development of bilateral cooperation.

The President said that Kazakhstan seeks to intensify interaction with China in all directions.

The importance of further enhancement of mutually beneficial...

The 1st round of Kazakh-Kuwaiti political consultations was held via video conference, chaired by the Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Bakaev and the Assistant Foreign Minister for Asian Affairs of the State of Kuwait Sameeh Essa Johar Hayat (in the rank of Deputy Minister).

During...

Kazakhstan, with money from the ADB, will reform financial management and increase the economy’s resilience to external shocks, with reference to the bank’s press service.

“Kazakhstan’s reforms are critical to strengthening financial governance, transparency and sustainability, as well as the stability and inclusiveness of the financial sector. Progress in these areas...

The assets of investors from Kazakhstan, blocked in the securities of Russian issuers, exceeded $160 million. In response to an official request, the ARDFM noted that as of November 1 of this year, the total amount of funds on Eurobonds of issuers from Russia, not received by Kazakh investors, increased...

Fitch Ratings has confirmed the long-term issuer default ratings of Kazakhstan Sustainability Fund (KSF) in foreign and local currencies at the level of BBB with a Stable outlook.

“The rating was confirmed on November 20, 2023 by Fitch without changes. At the end of 2022, Fitch assessed the government's ability and...

The National Bank of Kazakhstan, together with the Agency for Regulation and Development of the Financial Market, the National Payment Corporation, the Association of Financiers of Kazakhstan and second-tier banks, held a meeting on the development of the National payment system, digital financial infrastructure and the expansion of lending to...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on December 5, 2023 at 17:00 amounted to 461.00 tenge. Compared to the data as of 17:00 on December 4 (461.38 tenge per 1 dollar), the national currency strengthened by 0.38 tenge against the dollar.

According to KASE information,...

The U.S. dollar regained some ground on Tuesday and hovered near a one-week high against a basket of currencies, ahead of a flurry of employment data that could upend investor expectations for the outlook for interest rates.

The euro took an early knock from comments by European Central Bank member Isabel...

On December 4, in the Mugalzharsky district of the Aktobe region, the East Urikhtau field was put into commercial operation, with reference to KazMunayGas. As reported on the official website of the national company KazMunayGas, the East Urikhtau oil and gas field was discovered in 2015. Recoverable oil reserves amount...

The draft joint order of several government agencies proposes to extend the ban on the export of gasoline, diesel fuel and other petroleum products from Kazakhstan for six months from February 14, 2024, that is, until mid-August next year.

“Introduce a ban for a period of six months on the export...

Oil prices jumped by nearly 1% on Tuesday, lifted by uncertainty over voluntary output cuts by the OPEC+ group of producers, tensions in the Middle East and some encouraging economic signals in Europe.

Brent crude futures rose 63 cents, or 0.8%, to $78.66 a barrel by 0946 GMT. U.S. West Texas...

Freedom Broker analysts analysed Kazatomprom’s reporting for nine months and set a target price for the company’s shares at 22.5 thousand tenge, which is 22% higher than current market quotes. Experts advise buying papers from a uranium producer.

The authors call Kazatomprom’s interim reporting moderately positive, but not yet indicative enough,...

Gold prices edged lower on Tuesday, trading $100 below the record high level hit in the last session, as the dollar held firm and investors awaited more U.S. economic data this week that could influence the Federal Reserve's rate outlook.

Spot gold was down 0.3% at $2,024.30 per ounce by 1200...

Dalian iron ore futures declined on Tuesday on lingering fears of China's supervision of the markets to ensure price stability, though analysts cautioned that the downward trend may be short-lived.

The most-traded January iron ore contract on China's Dalian Commodity Exchange DCIOcv1 fell 0.4% to 966 yuan ($135.12) per metric ton at closing.

On...

Base metals prices mostly declined on Tuesday, as a steady dollar made greenback-priced commodities more expensive to holders of other currencies.

Three-month copper on the London Metal Exchange (LME) was almost flat at $8,446 per metric ton by 0554 GMT, while the most-traded January copper contract on the Shanghai Futures Exchange (SHFE) SCFcv1 fell 0.9%...

The director of Bagis was authorised a preventive measure in the form of detention for the misappropriation and embezzlement of 400 million tenge from depositors of the unfinished Atameken residential complex in Aktau, the Agency of Financial Monitoring of Kazakhstan (AFM) reported. The director of the company is also listed...

Kazakhstan sold South Korea not only watches, but also deer antlers. In January-October this year, exports to this country amounted to 5 million tonnes, which is 2.5% more than in the same period last year. Kazakhstan earned $3.4 billion.

Mostly oil was transported to South Korea at 5 million tonnes (+2.3%)....

The State Revenue Committee of the Ministry of Finance of Kazakhstan published statistics on the import of citrus and exotic fruits. From January to October of the current year, a total of citrus and exotic fruits weighing 51,969.9 tonnes worth 35,607.2 thousand dollar were imported into the country (for 10...

In Kazakhstan, issues regarding 12.7 million hectares of problem lands have been resolved: since the beginning of 2022, 9.5 million hectares have been returned to the state, land users have begun to develop 3.2 million hectares, with reference to the government press service.

“The head of state has set the task...

Chicago wheat futures fell on Tuesday after rising to their highest since August in the previous session when the U.S. government confirmed the largest one-off private wheat sale to China in years.

Soybeans edged higher after falling in recent sessions as rain forecasts eased fears about supply from drought-stricken areas of...

At the end of October this year, the most popular social media in Kazakhstan were Pinterest and YouTube, with a share of 28.1% and 20.64% respectively. Facebook (18.1 per cent), Instagram (10.16 per cent) and Twitter (9.82 per cent) followed. The Russian social network VKontakte also accounted for a significant...

On December 5, during a government meeting, Prime Minister Alikhan Smailov summed up the development of road freight transportation and transit in Kazakhstan. Separately, he focused on questions regarding roadside service.

“For example, the transit corridor Western Europe Western China was introduced more than 5 years ago, but the development of...

The volume of transit traffic through Kazakhstan may increase fivefold by 2029. According to Vice Minister of Transport Satzhan Ablaliev, today 370 Kazakh carriers with a fleet of 7.6 thousand vehicles operate long distances.

“It is expected that by 2029 the volume of transit traffic will increase fivefold. This is facilitated...

Kazakhstan has found alternative routes for transporting goods to Europe by road. According to Vice Minister of Transport Satzhan Ablaliev, 8 out of 13 checkpoints located between Belarus and European countries are currently closed.

“Also, all checkpoints between Russia and Finland are closed, that’s eight units. According to the Belarusian side,...

Kazakh operators were fined billions of tenge due to communication problems. This was reported by the Ministry of Digital Development.

According to the department, as of November 24, 2023, 685 unscheduled inspections were carried out against telecom operators regarding poor quality services. As a result, fines amounting to 2.6 billion tenge...

Previously, I already outlined plans for the development of the telecom department of the large business Freedom Holding Corp. (FRHC), now it’s time to talk about this most important project of the group in more detail, including what resources it will be supported by and why we chose this particular...

The reduction in exports from the EU countries, Great Britain and the USA under the influence of sanctions for the Russian military operation in Ukraine becomes less pronounced when taking into account supplies to the countries of Central Asia, as well as Armenia, Azerbaijan, Georgia and Belarus; in some cases,...

The energy and metallurgical holding En+ was included in the Forbes rating of 30 largest companies investors in Russia 2023. The group took 11th place, rising 11 positions from the previous ranking. In 2022, the volume of En+ investments amounted to 118.5 billion rouble.

As explained in Forbes, to calculate the...

China's yuan held steady against the U.S. dollar on Tuesday, as the sale of dollars by major state-owned banks outweighed Moody's decision to cut China's credit outlook.

The spot yuan opened at 7.1374 per dollar and closed the domestic session at 7.1420 per dollar, 15 pips firmer than the previous late session close.

The...

China's blue-chip stocks slumped to nearly five-year lows on Tuesday amid worries about the country's growth, with talks of a possible cut to China's sovereign ratings by Moody's denting sentiment during the session.

Foreign investors sold the most shares in one month and a half, while market participants cautiously awaited fresh...

Date: December 06, 2023; Source: the National Bank of Kazakhstan