Issue 4406 - 01.03.2024
01.03.2024

Kazakh President receives head of Anti-Corruption Agency

Kazakh President Kassym-Jomart Tokayev received head of the Anti-Corruption Agency Askhat Zhumagali.

The latter reported on the results of the Agency’s operations for 2023. 1,629 corruption-related crimes were registered last year, and 1,324 people were apprehended, of which 161 held various top leadership posts. 1,221 cases were referred to the court. He also said 1.02 trillion tenge (above 2.2 billion US dollars) of property assets and monetary funds were recovered since 2022 to the state and quasi-public sector.

Zhumagali also briefed on several investigations. Under the prejudicial investigation into Kairat Satybaldy 82.6 billion tenge or more than 185 million US dollars was recovered to the budget since January 2024. Besides, 942 hectares of land in Kosshy town in Akmola region worth over 13 billion tenge were recovered to the state.

He also said in 2023 Kazakhstan ranked 93rd among 180 countries in Transparency International climbing 8 spots up.

Following the meeting the Head of State set certain tasks for further fight against corruption and upgrading preventive measures.

By Kazinform

Kazakhstan General

01.03.2024

Head of State meets with NOC President Gennady Golovkin

During the meeting, the Kazakh Head of State Kassym-Jomart Tokayev drew attention to a number of priorities for the work ahead of the National Olympic Committee. 

The Kazakh President stressed the importance of greater relations with the International Olympic Committee based on trust and productiveness in the first place.

Tokayev pointed out...

During the meeting, the Kazakh Head of State Kassym-Jomart Tokayev drew attention to a number of priorities for the work ahead of the National Olympic Committee. 

The Kazakh President stressed the importance of greater relations with the International Olympic Committee based on trust and productiveness in the first place.

Tokayev pointed out...

01.03.2024

Russia, Kazakhstan reaffirm willingness to step up cooperation

Speaker of Parliament Yerlan Koshanov received Russian ambassador to Kazakhstan Alexei Borodavkin. The sides discussed the development of bilateral relations. Greeting the Russian diplomat, Koshanov noted that Russia and Kazakhstan have been consistently developing cooperation based on the agreement on good-neighborliness and alliance.

The Heads of State give high dynamics to...

Speaker of Parliament Yerlan Koshanov received Russian ambassador to Kazakhstan Alexei Borodavkin. The sides discussed the development of bilateral relations. Greeting the Russian diplomat, Koshanov noted that Russia and Kazakhstan have been consistently developing cooperation based on the agreement on good-neighborliness and alliance.

The Heads of State give high dynamics to...

01.03.2024

Cost of living on the rise in Kazakhstan

The cost of living in Kazakhstan in February of this year amounted to 48,363 tenge per month. Compared to the same month in 2023, this figure increased by 5%.

For able-bodied men over 18 years of age, the cost of living amounted to 57,427 tenge, and for women to 45,590 tenge....

The cost of living in Kazakhstan in February of this year amounted to 48,363 tenge per month. Compared to the same month in 2023, this figure increased by 5%.

For able-bodied men over 18 years of age, the cost of living amounted to 57,427 tenge, and for women to 45,590 tenge....

01.03.2024

Kazakhstan shifts to single time zone

Kazakhstan will switch to a single time zone (UTC+5) from 12 a.m. on March 1 following a government decree on time calculation procedures.

From the night of Feb. 29 to March 1, the cities of Astana, Almaty, and Shymkent, as well as the Abai, Akmola, Almaty, Zhambyl, Zhetisu, Karagandy, Kostanai, Pavlodar,...

Kazakhstan will switch to a single time zone (UTC+5) from 12 a.m. on March 1 following a government decree on time calculation procedures.

From the night of Feb. 29 to March 1, the cities of Astana, Almaty, and Shymkent, as well as the Abai, Akmola, Almaty, Zhambyl, Zhetisu, Karagandy, Kostanai, Pavlodar,...

Finance and Investment

01.03.2024

S&P publishes forecast for banking sector of Kazakhstan for 2024

After exceptional growth in 2022-23, GDP growth in Central Asia and the Caucasus is slowing, although remaining strong, with GDP growth forecast to average 4% in 2024. This is stated in the analytical review “Forecast for the banking sector for 2024: countries of Central Asia and the Caucasus” by S&P...

After exceptional growth in 2022-23, GDP growth in Central Asia and the Caucasus is slowing, although remaining strong, with GDP growth forecast to average 4% in 2024. This is stated in the analytical review “Forecast for the banking sector for 2024: countries of Central Asia and the Caucasus” by S&P...

01.03.2024

Borrowed funds remain expensive for Kazakh businesses

The National Bank of Kazakhstan made the fifth consecutive reduction in the base rate, lowering it to 14.75%. However, the real rate level is at one of the highest levels in recent years, leaving the cost of borrowing relatively expensive for businesses.

The Monetary Policy Committee of the National Bank of...

The National Bank of Kazakhstan made the fifth consecutive reduction in the base rate, lowering it to 14.75%. However, the real rate level is at one of the highest levels in recent years, leaving the cost of borrowing relatively expensive for businesses.

The Monetary Policy Committee of the National Bank of...

01.03.2024

Foreign investors take root in Kazakh banking market

The announced arrival of the Qatari Lesha Bank in Kazakhstan, which intends to buy Bereke, will be the first appearance of foreign strategic investors in the local financial market over the past 6 years. The global bankers of the West, with the exception of the City, did not do well...

The announced arrival of the Qatari Lesha Bank in Kazakhstan, which intends to buy Bereke, will be the first appearance of foreign strategic investors in the local financial market over the past 6 years. The global bankers of the West, with the exception of the City, did not do well...

01.03.2024

Kazakhstan changes rules for exporting cash

Banks were allowed to export currencies of EAEU member countries from Kazakhstan in cash. This decree was signed by President Kassym-Jomart Tokayev. In addition, the head of state lifted the ban on the export of investment coins made from ALTYN BARYS gold and KÚMIS BARYS silver coins, which are issued...

Banks were allowed to export currencies of EAEU member countries from Kazakhstan in cash. This decree was signed by President Kassym-Jomart Tokayev. In addition, the head of state lifted the ban on the export of investment coins made from ALTYN BARYS gold and KÚMIS BARYS silver coins, which are issued...

01.03.2024

Assets of banking sector in Kazakhstan decrease by 400 billion tenge in January

As of February 1, 2024, the banking sector of Kazakhstan is represented by 21 second-tier banks, of which 11 are banks with foreign participation, including 8 subsidiary banks. The assets of the banking sector in this period amounted to 51.1 trillion tenge, having decreased in January of this year by...

As of February 1, 2024, the banking sector of Kazakhstan is represented by 21 second-tier banks, of which 11 are banks with foreign participation, including 8 subsidiary banks. The assets of the banking sector in this period amounted to 51.1 trillion tenge, having decreased in January of this year by...

01.03.2024

Banks of Kazakhstan want to force creation of debt restructuring services

In Kazakhstan, they propose to oblige banks to create services that will deal with requests from problem borrowers. According to the first deputy chairman of the Agency for the Development of the Financial Market, Nurlan Abdrakhmanov, it is necessary to increase the responsibility of the management of banks and microfinance...

In Kazakhstan, they propose to oblige banks to create services that will deal with requests from problem borrowers. According to the first deputy chairman of the Agency for the Development of the Financial Market, Nurlan Abdrakhmanov, it is necessary to increase the responsibility of the management of banks and microfinance...

01.03.2024

Kazakhstan develops social entrepreneurship

As of February 1, 2024, the Ministry of National Economy of Kazakhstan included 261 SMEs in the register of social entrepreneurs, including 46 entities based in Almaty.

On January 1, 2022, the Law on Social Entrepreneurship came into force in Kazakhstan.

Social entrepreneurship is the activity of small and medium-sized businesses aimed...

As of February 1, 2024, the Ministry of National Economy of Kazakhstan included 261 SMEs in the register of social entrepreneurs, including 46 entities based in Almaty.

On January 1, 2022, the Law on Social Entrepreneurship came into force in Kazakhstan.

Social entrepreneurship is the activity of small and medium-sized businesses aimed...

01.03.2024

Weighted average dollar rate on Kazakhstan Stock Exchange amounts to 450.65 tenge

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on February 29, 2024 at 17:00 amounted to 450.65 tenge. Compared to the data as of 17:00 on February 28 (451.09 tenge per 1 dollar), the national currency strengthened by 0.44 tenge against the dollar.

According to KASE information,...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on February 29, 2024 at 17:00 amounted to 450.65 tenge. Compared to the data as of 17:00 on February 28 (451.09 tenge per 1 dollar), the national currency strengthened by 0.44 tenge against the dollar.

According to KASE information,...

01.03.2024

Stock markets withstand fresh dollar hike pending US inflation data

The dollar rose on Thursday in choppy trading and was on track for its second consecutive monthly gain against the euro and yen, overcoming an earlier dip after data showed that U.S. inflation was as expected in January.

The yen gained after a policymaker hinted at the need to exit ultra-easy...

The dollar rose on Thursday in choppy trading and was on track for its second consecutive monthly gain against the euro and yen, overcoming an earlier dip after data showed that U.S. inflation was as expected in January.

The yen gained after a policymaker hinted at the need to exit ultra-easy...

Oil and Gas Sector

01.03.2024

Kazakh oil KEBCO sells at premium plus $2-2.5 to Brent in 2024

In 2024, Kazakh oil KEBCO is sold at a premium of plus $2-2.5 to Brent. This was stated by the Chairman of the Board of the Kazakh national company KazMunayGas (KMG) Magzum Mirzagaliev.

More than a year ago, Kazakhstan launched its own oil brand KEBCO Kazakh Export Blend Crude Oil. Historically,...

In 2024, Kazakh oil KEBCO is sold at a premium of plus $2-2.5 to Brent. This was stated by the Chairman of the Board of the Kazakh national company KazMunayGas (KMG) Magzum Mirzagaliev.

More than a year ago, Kazakhstan launched its own oil brand KEBCO Kazakh Export Blend Crude Oil. Historically,...

01.03.2024

Kazakhstan does not look for alternative to Caspian Pipeline Consortium oil pipeline

Kazakhstan plans to develop oil transportation via the Baku-Tbilisi-Ceyhan oil pipeline, but this does not mean that the republic is looking for an alternative to the Caspian Pipeline Consortium (CPC) oil pipeline. This was stated by the chairman of the board of the Kazakh national company KazMunayGas, Magzum Mirzagaliev.

He recalled...

Kazakhstan plans to develop oil transportation via the Baku-Tbilisi-Ceyhan oil pipeline, but this does not mean that the republic is looking for an alternative to the Caspian Pipeline Consortium (CPC) oil pipeline. This was stated by the chairman of the board of the Kazakh national company KazMunayGas, Magzum Mirzagaliev.

He recalled...

01.03.2024

Kazakhstan plans to produce new oil products

Kazakhstan will have more oil tankers. Also, a completely new production facility may appear in the country. Such plans were voiced by the head of KazMunayGas Magzum Mirzagaliev. He recalled that last year, a joint venture with Abu Dhabi Ports Group (UAE) and Kazmotransflot (Kazakhstan) acquired two tankers Taraz and...

Kazakhstan will have more oil tankers. Also, a completely new production facility may appear in the country. Such plans were voiced by the head of KazMunayGas Magzum Mirzagaliev. He recalled that last year, a joint venture with Abu Dhabi Ports Group (UAE) and Kazmotransflot (Kazakhstan) acquired two tankers Taraz and...

01.03.2024

KazMunayGas plans to increase its fleet of Aframax tankers to 12

The national company KazMunayGas plans to increase its fleet of Aframax tankers to 12 within several years. This was stated by the Chairman of the Board of KMG Magzum Mirzagaliev.

The head of the company recalled that in January 2023, a joint venture was created with partners from the United Arab...

The national company KazMunayGas plans to increase its fleet of Aframax tankers to 12 within several years. This was stated by the Chairman of the Board of KMG Magzum Mirzagaliev.

The head of the company recalled that in January 2023, a joint venture was created with partners from the United Arab...

01.03.2024

Brent steadies despite Middle East concerns

Oil prices were little changed Thursday as investors kept their powder dry ahead of U.S. data expected to offer further clues on the outlook for interest rates.

Brent crude futures for April were down 36 cents at $83.32 a barrel by 1157 GMT. The April contract expires on Thursday and the...

Oil prices were little changed Thursday as investors kept their powder dry ahead of U.S. data expected to offer further clues on the outlook for interest rates.

Brent crude futures for April were down 36 cents at $83.32 a barrel by 1157 GMT. The April contract expires on Thursday and the...

Metals and Minerals

01.03.2024

Poland and Estonia buy coal from Kazakhstan

More brown coal began to be exported from Kazakhstan abroad. In 2023, the country produced 116.3 million tonnes of hard and brown coal. This is 1.2% less than in 2022.

Imports of hard coal and solid fuels from it increased by 32.3%, to 701.5 thousand tonnes. The suppliers were Russia, Kyrgyzstan,...

More brown coal began to be exported from Kazakhstan abroad. In 2023, the country produced 116.3 million tonnes of hard and brown coal. This is 1.2% less than in 2022.

Imports of hard coal and solid fuels from it increased by 32.3%, to 701.5 thousand tonnes. The suppliers were Russia, Kyrgyzstan,...

01.03.2024

Gold processing plant appears in Kazakhstan's Zhambyl region

Five projects for the production of high-value products are being implemented in the Zhambyl region. The regional administration listed enterprises that should open.

New facilities are planned to be launched in the mining, metallurgical and agro-industrial complex, and the construction industry. 426 jobs will be created. The administration noted that all...

Five projects for the production of high-value products are being implemented in the Zhambyl region. The regional administration listed enterprises that should open.

New facilities are planned to be launched in the mining, metallurgical and agro-industrial complex, and the construction industry. 426 jobs will be created. The administration noted that all...

01.03.2024

Kazatomprom’s subsidiary tries to sell motor ship worth 76 million tenge for 18th time

The Ulba Metallurgical Plant once again put up for auction the Yuri Murin motor ship with a starting price of 228 million tenge. This is already the 18th attempt by the Ulba plant to sell this non-core asset.

The Yuri Murin service and traveling motor ship, designed for 12 passengers, was...

The Ulba Metallurgical Plant once again put up for auction the Yuri Murin motor ship with a starting price of 228 million tenge. This is already the 18th attempt by the Ulba plant to sell this non-core asset.

The Yuri Murin service and traveling motor ship, designed for 12 passengers, was...

01.03.2024

Bullion flat as silver, platinum advance

Gold prices held ground on Thursday as traders awaited the Federal Reserve's preferred inflation gauge due later in the day that could provide a fresh perspective into when the U.S. central bank could start cutting interest rates.

Spot gold was steady at $2,035.78 per ounce, as of 0210 GMT. U.S. gold...

Gold prices held ground on Thursday as traders awaited the Federal Reserve's preferred inflation gauge due later in the day that could provide a fresh perspective into when the U.S. central bank could start cutting interest rates.

Spot gold was steady at $2,035.78 per ounce, as of 0210 GMT. U.S. gold...

01.03.2024

Ferrous, coal benchmarks mixed pending fresh China measures

Iron ore futures held in a tight range on Thursday as investors reassessed near-term demand prospects in top consumer China amid expectations of steel mills ramping up production despite lingering concerns about the property sector.

The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) closed daytime trade 0.17%lower...

Iron ore futures held in a tight range on Thursday as investors reassessed near-term demand prospects in top consumer China amid expectations of steel mills ramping up production despite lingering concerns about the property sector.

The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) closed daytime trade 0.17%lower...

01.03.2024

Non-ferrous base metals veer up on supply concerns

Nickel prices touched their highest in more than two months on Thursday as some investors bet that a slide in the market had hit a floor on worries about supply from top producer Indonesia.

Three-month nickel on the London Metal Exchange rose 0.6% to $17,700 a metric ton in official open-outcry...

Nickel prices touched their highest in more than two months on Thursday as some investors bet that a slide in the market had hit a floor on worries about supply from top producer Indonesia.

Three-month nickel on the London Metal Exchange rose 0.6% to $17,700 a metric ton in official open-outcry...

Energy Industry

01.03.2024

EAEU single energy market may not work in 2025

The EAEU wants to postpone the launch of a single energy market for gas, oil and petroleum products. In 2025, common markets for energy resources (electricity, gas, oil and petroleum products) for the Union member countries were to open. However, on March 4, at a meeting of the oil and...

The EAEU wants to postpone the launch of a single energy market for gas, oil and petroleum products. In 2025, common markets for energy resources (electricity, gas, oil and petroleum products) for the Union member countries were to open. However, on March 4, at a meeting of the oil and...

Manufacturing industry

01.03.2024

Furniture and household items in Kazakhstan up in price by 12%

In January-December 2023, the country produced furniture in value terms for 82.6 billion tenge - 27.7% more than a year earlier. The industrial production index (IPI) totalled 143.5%.

In regional terms, the most furniture was traditionally produced in Almaty: 22.8 billion tenge, plus 29.5% for the year. The second and third...

In January-December 2023, the country produced furniture in value terms for 82.6 billion tenge - 27.7% more than a year earlier. The industrial production index (IPI) totalled 143.5%.

In regional terms, the most furniture was traditionally produced in Almaty: 22.8 billion tenge, plus 29.5% for the year. The second and third...

01.03.2024

Kazakhstan puts up unprofitable machine-building plant for sale

The unprofitable Kirov Machine-Building Plant was put up for sale to produce armoured vehicles. Purchase applications are accepted until 8:00 March 12. Bidding will open two hours later on the same day. This is the only manufacturer of torpedoes with a thermal engine in the CIS, according to the auction...

The unprofitable Kirov Machine-Building Plant was put up for sale to produce armoured vehicles. Purchase applications are accepted until 8:00 March 12. Bidding will open two hours later on the same day. This is the only manufacturer of torpedoes with a thermal engine in the CIS, according to the auction...

01.03.2024

Number of subsidies in Kazakhstan paid on basis of illegal certificates

In Kazakhstan, it was proposed to create a separate government agency to monitor product safety. According to Senator Andrei Lukin, the main problem with the circulation of dangerous and counterfeit products is the inadequate functioning of the technical regulation system.

“Because of this, there are facts, for example, of illegal receipt...

In Kazakhstan, it was proposed to create a separate government agency to monitor product safety. According to Senator Andrei Lukin, the main problem with the circulation of dangerous and counterfeit products is the inadequate functioning of the technical regulation system.

“Because of this, there are facts, for example, of illegal receipt...

01.03.2024

Kazakhstan’s automotive sector ramps up with launch of new factories

In recent years, Kazakhstan has been experiencing rapid growth in the automotive industry. In 2023, the country produced over 148,000 cars, which is 30% more than a year earlier. One step at a time, economic diversification policy brings promising results in the development of the real economy. 

Last year marked the 5.1% growth of...

In recent years, Kazakhstan has been experiencing rapid growth in the automotive industry. In 2023, the country produced over 148,000 cars, which is 30% more than a year earlier. One step at a time, economic diversification policy brings promising results in the development of the real economy. 

Last year marked the 5.1% growth of...

Agriculture

01.03.2024

Imports of Russian wheat to Kazakhstan in 2023 up 20%

In 2023, Kazakhstan significantly increased imports of Russian wheat, according to official statistics.

For 12 months of 2023, 1.988 mln tonnes of wheat were imported to the Republic of Kazakhstan from the Russian Federation. This is 20% higher than the figure for 2022.

In particular, in December 2023, Kazakhstan imported the highest...

In 2023, Kazakhstan significantly increased imports of Russian wheat, according to official statistics.

For 12 months of 2023, 1.988 mln tonnes of wheat were imported to the Republic of Kazakhstan from the Russian Federation. This is 20% higher than the figure for 2022.

In particular, in December 2023, Kazakhstan imported the highest...

01.03.2024

Companies from Kazakhstan and UAE sign agro export contracts worth $28.6 million

A meeting of the Business Council and a trade and economic mission of Kazakh enterprises took place from February 27 to 29 in the United Arab Emirates. The business delegation from Kazakhstan was headed by the Minister of Trade and Integration Arman Shakkaliev. During the trade mission, the Kazakh-Emirates business...

A meeting of the Business Council and a trade and economic mission of Kazakh enterprises took place from February 27 to 29 in the United Arab Emirates. The business delegation from Kazakhstan was headed by the Minister of Trade and Integration Arman Shakkaliev. During the trade mission, the Kazakh-Emirates business...

01.03.2024

Abundant supplies subdue US grain contracts

Chicago soybean futures fell on Thursday to a new three-year low,pressured by an advancing harvest in top producer Brazil and tepid U.S. exports.

Corn edged down after earlier reaching a two-week high that had lifted it away from last week’s three-year trough.

Wheat also eased.

Short-covering by speculative investors has helped grain markets...

Chicago soybean futures fell on Thursday to a new three-year low,pressured by an advancing harvest in top producer Brazil and tepid U.S. exports.

Corn edged down after earlier reaching a two-week high that had lifted it away from last week’s three-year trough.

Wheat also eased.

Short-covering by speculative investors has helped grain markets...

Communications and Transportation

01.03.2024

Caspian crossroad brings Kazakhstan opportunities, challenges

In recent years, the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, has been gauging increased attention in Kazakhstan and among other stakeholders. As countries began to seek diversification of routes due to geopolitical developments, the corridor became a viable alternative option, offering opportunities yet formidable challenges.

TITR...

In recent years, the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, has been gauging increased attention in Kazakhstan and among other stakeholders. As countries began to seek diversification of routes due to geopolitical developments, the corridor became a viable alternative option, offering opportunities yet formidable challenges.

TITR...

01.03.2024

Kazakhstan excells among EAEU and CA countries in mobile internet speeds

Over the year, mobile Internet speed in Kazakhstan increased by 59% to 35.21 Mbps. By this indicator, the country surpassed all EAEU partners and Central Asian neighbours.

In Speedtest's global ranking of mobile internet speeds, Kazakhstan moved up three places to 69th place by the end of January 2024.

Meanwhile, Armenia ranked...

Over the year, mobile Internet speed in Kazakhstan increased by 59% to 35.21 Mbps. By this indicator, the country surpassed all EAEU partners and Central Asian neighbours.

In Speedtest's global ranking of mobile internet speeds, Kazakhstan moved up three places to 69th place by the end of January 2024.

Meanwhile, Armenia ranked...

01.03.2024

Kazakhstan Railways may transfer some functions to Ministry of Transport

Some functions may be separated from Kazakhstan Temir Zholy and transferred to the Ministry of Transport. The relevant department announced the details.

Earlier, MP Mukash Iskandirov spoke about the need to quickly reform KTZ by separating the functions of the national carrier from the functions of the national infrastructure operator (mainline...

Some functions may be separated from Kazakhstan Temir Zholy and transferred to the Ministry of Transport. The relevant department announced the details.

Earlier, MP Mukash Iskandirov spoke about the need to quickly reform KTZ by separating the functions of the national carrier from the functions of the national infrastructure operator (mainline...

01.03.2024

Air Astana denies airline data leak

Air Astana denies the data leak, which became known in February. Then it turned out that one Chinese hacker group had full access to the critical infrastructure of Kazakh telecom operators for about two years. Air Astana was also mentioned in the leak.

According to the air carrier, immediately after the...

Air Astana denies the data leak, which became known in February. Then it turned out that one Chinese hacker group had full access to the critical infrastructure of Kazakh telecom operators for about two years. Air Astana was also mentioned in the leak.

According to the air carrier, immediately after the...

01.03.2024

Kazakhstan wants spend billions to attract 3.5 million tourists

Kazakhstan will spend billions of tenge on tourism development in the next three years. According to the budget program of the Ministry of Tourism and Sports, these expenses will increase the number of foreign tourists from 2 million people in 2024 to 3.5 million people in 2026 (+75%). The number...

Kazakhstan will spend billions of tenge on tourism development in the next three years. According to the budget program of the Ministry of Tourism and Sports, these expenses will increase the number of foreign tourists from 2 million people in 2024 to 3.5 million people in 2026 (+75%). The number...

01.03.2024

Kazakh Samruk-Kazyna announces competition for construction of towers for Tele2 for 50 billion tenge

The Samruk-Kazyna Fund has announced a competition for the construction of cellular towers for the mobile operator Mobile Telecom Service (operating under the Tele2 and Altel brands), as follows from publications on the fund’s procurement portal. In mid-February, it became known that an agreement had been reached to sell the...

The Samruk-Kazyna Fund has announced a competition for the construction of cellular towers for the mobile operator Mobile Telecom Service (operating under the Tele2 and Altel brands), as follows from publications on the fund’s procurement portal. In mid-February, it became known that an agreement had been reached to sell the...

01.03.2024

Kazakhstan creates National Artificial Intelligence Platform

On February 28, an extended meeting of the board of the Ministry of Digital Development, Innovation and Aerospace Industry of Kazakhstan was held, during which the results and priorities of work in the supervised areas were discussed. The meeting was attended by Deputy Prime Minister Chief of Staff of the...

On February 28, an extended meeting of the board of the Ministry of Digital Development, Innovation and Aerospace Industry of Kazakhstan was held, during which the results and priorities of work in the supervised areas were discussed. The meeting was attended by Deputy Prime Minister Chief of Staff of the...

01.03.2024

Kazakhstan provides over 90% of public services online

Kazakhstan provides 92% of all government services online, with 85% of them available from a mobile phone, Minister of Digital Development, Innovation and Aerospace Industry Bagdat Mussin said during the ministry’s extended meeting on Feb. 28, reported the ministry’s press service.

Summarizing the outcomes of last year, Mussin informed about the...

Kazakhstan provides 92% of all government services online, with 85% of them available from a mobile phone, Minister of Digital Development, Innovation and Aerospace Industry Bagdat Mussin said during the ministry’s extended meeting on Feb. 28, reported the ministry’s press service.

Summarizing the outcomes of last year, Mussin informed about the...

Real Estate and Construction

01.03.2024

Kazakhstan restores order in housing market and prescribes work rules for realtors

In Kazakhstan, they plan to legislatively regulate the activities of realtors. On the sidelines of the Senate, First Vice Minister of Economy Timur Zhaksylykov commented on the situation on the housing market.

“When we began to analyse this problem, it turned out that there is practically no regulation of real estate...

In Kazakhstan, they plan to legislatively regulate the activities of realtors. On the sidelines of the Senate, First Vice Minister of Economy Timur Zhaksylykov commented on the situation on the housing market.

“When we began to analyse this problem, it turned out that there is practically no regulation of real estate...

Regional News

01.03.2024

Population in Russia prevents economy from cooling down

Rosstat published a new batch of macroeconomic data for 2023 and January 2024, confirming strong consumer demand supported by accelerating wage growth and falling unemployment. Calculations by the Ministry of Economy show that real consumer spending (the sum of retail, catering and paid services turnover) in January increased by 8%...

Rosstat published a new batch of macroeconomic data for 2023 and January 2024, confirming strong consumer demand supported by accelerating wage growth and falling unemployment. Calculations by the Ministry of Economy show that real consumer spending (the sum of retail, catering and paid services turnover) in January increased by 8%...

01.03.2024

Russian stock market and rouble take President’s message calmly

The Russian stock market started the last day of February of the leap year on a moderately positive note, but trading participants were cautious in anticipation of the message from the President of Russia to the Federal Assembly. Experts did not rule out an increase in volatility in the event...

The Russian stock market started the last day of February of the leap year on a moderately positive note, but trading participants were cautious in anticipation of the message from the President of Russia to the Federal Assembly. Experts did not rule out an increase in volatility in the event...

01.03.2024

Russia can count on acceptable oil prices within two years

The countries participating in the OPEC+ agreement are ready to extend restrictions on oil production beyond March, when previous agreements should formally cease to apply. The leading countries of the OPEC cartel do not plan to change their policy of limiting the supply of black gold. However, cartel participants will not...

The countries participating in the OPEC+ agreement are ready to extend restrictions on oil production beyond March, when previous agreements should formally cease to apply. The leading countries of the OPEC cartel do not plan to change their policy of limiting the supply of black gold. However, cartel participants will not...

01.03.2024

Agricultural boycott prepares against Russia

A new step in the escalation of the sanctions war against Russia could be a ban on its agricultural products. Following the boycott of Russian energy, some countries are already demanding the introduction of an official ban on all agricultural products from Russia. The introduction of agricultural sanctions against Russia may...

A new step in the escalation of the sanctions war against Russia could be a ban on its agricultural products. Following the boycott of Russian energy, some countries are already demanding the introduction of an official ban on all agricultural products from Russia. The introduction of agricultural sanctions against Russia may...

01.03.2024

Yuan veers up mildly as bulls return to Chinese stock markets

China's yuan rose slightly against the dollar on Thursday, underpinned by robust northbound inflows into Chinese stocks, while investors awaited the annual meeting of the country's parliament and key U.S. data for more clues on the economic agenda for this year. A-share performance has affected broader financial market sentiment over...

China's yuan rose slightly against the dollar on Thursday, underpinned by robust northbound inflows into Chinese stocks, while investors awaited the annual meeting of the country's parliament and key U.S. data for more clues on the economic agenda for this year. A-share performance has affected broader financial market sentiment over...

01.03.2024

China stock markets gain ground as wild speculators bite dust

China stocks rose on the last trading day of the month after the securities regulator said it would tighten scrutiny of derivatives in the stock market, while investor expectations for further stimulus ahead of a key policy meeting also helped lift sentiment.

China's blue-chip CSI 300 Index expanded gains in the...

China stocks rose on the last trading day of the month after the securities regulator said it would tighten scrutiny of derivatives in the stock market, while investor expectations for further stimulus ahead of a key policy meeting also helped lift sentiment.

China's blue-chip CSI 300 Index expanded gains in the...

01.03.2024

China's pro-foreign investment measures strengthen investor confidence

China's 24 pro-foreign investment measures have further strengthened the investment confidence of foreign-funded enterprises, a commerce ministry spokesperson said on Thursday.

Spokesperson He Yadong said at a regular press conference that the ministry held a special roundtable on the implementation of the 24 pro-foreign investment measures on Wednesday.

Representatives of more than...

China's 24 pro-foreign investment measures have further strengthened the investment confidence of foreign-funded enterprises, a commerce ministry spokesperson said on Thursday.

Spokesperson He Yadong said at a regular press conference that the ministry held a special roundtable on the implementation of the 24 pro-foreign investment measures on Wednesday.

Representatives of more than...

Prices and Statistics

01.03.2024

Commodities

Date: March 01, 2024; Source: Bloomberg.com

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Date: March 01, 2024; Source: Bloomberg.com

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01.03.2024

Exchange Rates

Date: March 01, 2024; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 450.61
1 EURO EUR / KZT 488.91
1 RUSSIAN ROUBLE RUB / KZT 4.97
1 CHINESE YUAN CNY / KZT 62.63
1 KYRGYZIAN SOM KGS / KZT 5.04
1 GREAT BRITAIN POUND GBP / KZT 570.61
1 CANADIAN DOLLAR CAD / KZT 331.77
1 AUSTRALIAN DOLLAR AUD / KZT 292.99
...

Date: March 01, 2024; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

450.61

1 EURO

EUR / KZT

488.91

1 RUSSIAN ROUBLE

RUB / KZT

4.97

1 CHINESE YUAN

CNY / KZT

62.63

1 KYRGYZIAN SOM

KGS / KZT

5.04

1 GREAT BRITAIN POUND

GBP / KZT

570.61

1 CANADIAN DOLLAR

CAD / KZT

331.77

1 AUSTRALIAN DOLLAR

AUD / KZT

292.99