Kazakh Head of State Kassym-Jomart Tokayev sent a congratulatory letter to Saudi Arabia's Crown Prince Mohammed bin Salman on winning the bid to host the Expo 2030 in Riyadh. 

Choosing your country as the host of the significant event once again confirms the status of Saudi Arabia at the global level...

The Head of State sent a congratulatory telegram to the President of Romania.

On his behalf and on behalf of the people of Kazakhstan, Kassym-Jomart Tokayev congratulated President Klaus Iohannis on the national holiday of Romania, the Great Union Day.

Romania, which achieved great success in strengthening its economy, is an active...

The cost of living in Kazakhstan in November 2023 was at 47,501 tenge per month, which is 10.5% less than in October. In the previous month, this figure was equal to 53,054 tenge.

According to the National Statistics Bureau, the cost of living for able-bodied men over 18 years of age...

The share of private management funds is less than 1% of the UAPF portfolio, although from July 1, 2023, pension fund investors have the right to transfer up to 50% of the amount of their pension savings to private management. Today it is about 8.6 trillion tenge. This year, most...

Loans from the banking sector of the real economy of Kazakhstan to 1 October this year reached 12.1 trillion tenge. We are talking about loans from second-tier banks and Development Bank of Kazakhstan (DBK), issued for business activities.

Of this 12.1 trillion tenge, bank loans to legal entities amounted to 8.9...

The National Bank of Kazakhstan considers it possible to introduce a system of tax deductions for citizens on transactions carried out on the Kazakhstan securities market. The head of the monetary regulator, Timur Suleimenov, announced this in response to a request from Parliament members.

“The National Bank considers it possible to...

In Kazakhstan, it is proposed to revise the date of entry into force of the rules on taxation of bank income from government securities issued by the National Bank. The Senate returned the law on taxes and other obligatory payments to the budget to the Parliament to make some changes.

In...

For the effective operation of the Baiterek national holding, professional participants recommend establishing the temporary nature of state support and launching instruments for the securitisation of mortgage loans. During the discussion of the World Bank report “Towards Change”, dedicated to the activities of the development institution, Deputy Chairman of the...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on November 30, 2023 at 17:00 amounted to 458.24 tenge. Compared to the data at 17:00 on November 29 (459.02 tenge per 1 dollar), the national currency strengthened by 0.78 tenge against the dollar.

According to KASE information, the...

The dollar was rooted near a three-month low on Thursday and was set to post its steepest monthly decline in a year as investors ramped up bets that the Federal Reserve is done with rate hikes ahead of a crucial inflation report later in the day.

The dollar index, which measures...

On 30 November 2023, oil lifting on tankers was resumed at the Marine Terminal of Caspian Pipeline Consortium. Lifting was suspended in accordance with the storm warnings issued by the Novorossiysk Harbor Master and actual adverse weather conditions. Floating hoses and Single Point Moorings were inspected, according to the Caspian Pipeline...

Large oil producing company Karachaganak Petroleum Operating B.V. significantly reduced oil production due to a storm in the Black Sea.

According to the Ministry of Energy, due to the suspension of the Caspian Pipeline Consortium from loading oil into tankers due to weather conditions in the port of Novorossiysk on November...

Oil production at the Karachaganak field decreased over the past 24 hours by 34% to 23.8 thousand tonnes, reported the Situational Analytical Centre of the Fuel and Energy Complex of Kazakhstan.

“Following TCO and NCOC, another large Kazakh company, KPO, reduced oil production due to the Caspian Pipeline Consortium (CPC) suspending...

The head of Gazprom, Alexey Miller, discussed with First Deputy Prime Minister of Kazakhstan Roman Sklyar the issues of developing interaction within the framework of the strategic cooperation agreement signed in November. As the concern clarifies, in particular, they discussed the prospects for long-term supplies and transportation of Russian natural...

A road map was signed in Shymkent that will resolve priority issues regarding the project to expand the capacity of the local oil refinery from 6 to 12 million tonnes per year, KazMunayGas reported.

President of PKOP Erbolat Kozhabayev and Mayor of Shymkent Gabit Syzdykbekov signed a roadmap for the allocation...

In 2024, the volume of transit of Russian oil through the territory of Kazakhstan to Uzbekistan is expected to increase to 500 thousand tonnes. The director of the transportation department of KazTransOil, Abay Beisembayev, spoke about this at the Issuer Day organised by the Kazakhstan Stock Exchange, with reference to...

The economic demonopolisation commission chaired by Kazakh Prime Minister Alikhan Smailov focused on the recovery of illegally obtained commercial gas transportation assets. The Prosecutor General’s Office detected that in 2021 a private company acquired in Atyrau region a gas pipeline with a length of above 200 meters at an understated...

OPEC+ producers have agreed to voluntary oil output cuts for the first quarter next year in an attempt to boost the market, but crude prices fell after the move.

Saudi Arabia, Russia, Kazakhstan and other members of OPEC+, who pump more than 40 percent of the world’s oil, met online on...

The 51st Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 36th OPEC and Non-OPEC Ministerial Meeting (ONOMM) took place on November 30 via videoconferencing. Kazakh Energy Minister Almasadam Satkaliyev took part in the meeting.

Those present debated the current situation in the oil market.

Kazakhstan agreed to further voluntarily cut...

Oil prices fell on Thursday on weaker-than-expected Chinese manufacturing data, but investors maintained caution ahead of an OPEC+ meeting where production cuts are expected.

Brent crude futures fell 28 cents, or 0.3%, to $82.90 a barrel by 0024 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 24 cents, or...

In the East Kazakhstan region they plan to develop new fields and implement large projects. The head of the region, Ermek Kosherbaev, spoke about this. According to him, the priority is the development of polymetallic deposits. It is expected that by 2030 such large city-forming deposits as Maleevskoye and Ridder-Sokolnoye...

Kazatomprom and its subsidiary KAP Technology entered into a strategic cooperation agreement with Siemens in the field of digitalisation and automation of subsidiaries of the nuclear holding, with reference to the press service of the national company.

Since 2019, Siemens has been an official partner of KAP Technology in providing process...

The copper mining group KAZ Minerals produced 301.2 thousand tonnes of copper in January–September, which is 7% more than in the same period in 2022.

“In the first nine months of 2023, the KAZ Minerals group produced more than 300 thousand tonnes of copper, which is 7% more than in the...

Gold prices eased on Thursday as the dollar staged a rebound ahead of U.S. inflation data, although bullion was heading for its second monthly rise boosted by hopes that the Federal Reserve would cut interest rates soon.

Spot gold eased 0.3% to $2,038.59 per ounce by 1207 GMT. Bullion is up...

Dalian iron ore futures rose on Thursday after declining for five straight sessions, helped by market optimism that Beijing’s stimulus efforts would revitalise the ailing property sector.

The most-traded January iron ore on China’s Dalian Commodity Exchange DCIOcv1 rose 1.4% to 956.5 yuan ($134.15) per metric ton at closing.

This month, the...

London copper prices rose on Thursday, on track for their first monthly gain in four months, on a weaker dollar and hopes of demand growth in the last quarter.

Three-month copper on the London Metal Exchange was up 0.7% at $8,477.50 per metric ton by 0640 GMT. The contract is up 4.6% month-on-month.

The...

The Eurasian Development Bank (EDB) will purchase ESG bonds for the reconstruction of Almaty CHPP-3. The organisation signed a corresponding agreement with the Almaty Electric Power Plants company (AlES, owned by Samruk-Energo). The total volume of the first bond program will be up to 236.8 billion tenge.

The AlES bond program...

More soft toys and puzzles for children began to be imported to Kazakhstan. In January-September this year, 34.7 thousand tonnes of children's toys were supplied to the country, which is 31.5% more than in the same period last year. Imports cost Kazakhstan $166.1 million.

Kazakhstan began to purchase twice as many...

The state was offered to buy 3 million tonnes of extracurricular grain from farmers. According to MP Serik Egizbayev, today the government must make non-standard decisions and adopt an anti-crisis road map in support of farmers.

“It should include the following measures. Following the example of the 2011 harvest, carry out...

Kazakh farmers, who received a meagre and low-quality harvest this year, found themselves in a difficult situation; many had problems paying off current obligations. Most farmers do not know how they will sow in 2024. Mechanisms to support farmers were discussed at a meeting at the Chamber of Entrepreneurs of...

In the East Kazakhstan region they want to launch meat production for 117 billion tenge. The regional administration spoke about this.

According to the information, the project will be implemented with an investor from Cyprus. It is expected that a meat production complex will open in the region. Cost is estimated...

Chicago wheat edged down on Thursday after rebounding this week from contract lows, with participants awaiting export data for an indication on demand for U.S. supplies.

Soybeans eased as the oilseed market assessed forecasts in Brazil while corn was little changed.

The consolidation trend in grains reflected caution in financial markets before...

Kazakhstan and Turkmenistan reached an agreement in developing the China–Kazakhstan–Turkmenistan–Iran corridor during the Kazakh-Turkmen working group’s first meeting on developing transport, transit, and logistics on Nov. 26-27 in Ashgabat, reported the Kazakh Transport Ministry press service.  

The meeting was co-chaired by Kazakh Deputy Minister of Transport Talgat Lastayev and Deputy Director-General...

Under persistent reminders from the head of the Ministry of Digital Development, Bagdat Musin, about the need to sell one of the two mobile operators operating in the structure of the national company Kazakhtelecom, Kursiv Research decided to analyse what share of profits this listed national company will lose with...

Due to the growth in cargo transportation, Kazakhstan again requested an additional volume of permit forms from the PRC, the press service of the Ministry of Transport of Kazakhstan reports.

According to the department, in accordance with the intergovernmental agreement on road transportation, at the beginning of the year, Kazakhstan received...

Parliament deputies approved the draft law on Mass Media in the first reading. As noted by the Minister of Culture and Information Aida Balaeva, the current legislation does not keep up with the pace of development of today’s information sphere. Therefore, time itself required the adoption of a completely new...

From January 1, 2024, Qazaq Air will resume flights from Astana to Zhezkazgan. Flights will be operated daily on modern Canadian-made De-Havilland Dash 8-Q400 airliners. The cost of one-way tickets starts from 18,000 tenge, with reference to the airline’s press service.

Flight schedule:

IQ 389 Astana 09:55 - Zhezkazgan 11:00;

IQ 390 Zhezkazgan...

On 14 November 2023, a significant event took place in Kazakhstan: the population reached 20 million people. At the same time, the problem of providing the country's population with housing is becoming more and more acute. By the end of 2022, the housing provision per resident in Kazakhstan was 23.4...

The Ministry of Economic Development of Russia proposed the following parameters for the federal budget for 2024: the average annual exchange rate of the dollar USDRUB at 90.1 rouble, with the price of Urals oil at $70 per barrel.

Thus, a barrel of oil in the Russian budget for next year...

The share of the yuan in Russian exports at the end of September increased to 35% against 13% in January, according to the Financial Stability Review of the Central Bank of Russia. The share of rouble exports also remains significant at 39% in September.

“The restoration of import volumes has become...

The Russian market was declining in the first half of the day on Thursday. The dynamics of the rouble and oil contributed to the growth to a greater extent. However, the market was pulled down by the metals and mining (-0.9%) and financial (-0.8%) sectors. The volume of transactions on...

Russian GDP growth in October 2023, according to the Ministry of Economic Development, amounted to 5.0% year-on-year after an increase of 5.6% in September, 5.5% in August, 5.2% in July, 5.7% in June, down 5.8% in May, down 3.6% in April, down 0.7% in March, down 2.6% in February and...

The next session of the UN climate negotiations (COP28) opens on Thursday in Dubai (UAE). Key issues of the conference: summing up the implementation of the Paris Agreement, adopting a new global goal for adaptation to climate change, launching a financial mechanism to compensate for climate losses in developing countries....

Forecasts for the Russian economy are becoming increasingly bleak. The Organisation for Economic Cooperation and Development (OECD) has adjusted its estimates for next year. True, even the improved version assumes that Russia’s GDP will grow by only 1.1% in 2024, which is twice as bad as the government’s forecast. The...

Disappointing Chinese factory activity data kept a cap on the yuan on Thursday, but the currency looked set for its biggest monthly gain in a year against the weakening dollar. Spot yuan was changing hands around 7.1250 at midday, little changed from the previous late session close. It will have...

China stocks were roughly flat on Thursday after downbeat manufacturing data, with investors calling for more easing measures. Hong Kong stocks were down to their lowest level in a year before edging up.

China's blue-chip CSI300 Index and the Shanghai Composite Index both inched up 0.2% by the lunch break. Hong...

The revenue and profits of China's state-owned enterprises (SOEs) and state holding enterprises registered steady expansion in the first 10 months of this year, official data showed.

The combined operating revenue of these enterprises stood at 68.97 trillion yuan (about 9.71 trillion U.S. dollars) during the period, up 3.9 percent year...

China's non-manufacturing activity maintained expansion in November, with the purchasing managers' index for the sector reaching 50.2, the National Bureau of Statistics (NBS) said Thursday.

A reading above 50 indicates expansion, while a reading below reflects contraction.

The sub-index for the service sector was 49.3 in November, down from 50.1 in October,...

Date: December 01, 2023; Source: the National Bank of Kazakhstan