President Kassym-Jomart Tokayev has met with his Chinese counterpart Xi Jinping in Bishkek.

The Kazakh Leader thanked Xi Jinping for warm congratulations on his election victory and inauguration as the President of the Republic of Kazakhstan.

"I view the results of the election as the nation's trust in me and support of...

Head of State Kassym-Jomart Tokayev has met with President of Afghanistan Mohammad Ashraf Ghani in Bishkek.

The Kazakh Leader welcomed his Afghan counterpart and noted a high level of the bilateral cooperation as well as close interaction in a multilateral format.

"Mr. President, I am pleased to meet you in Bishkek within...

Head of State Kassym-Jomart Tokayev who is paying a visit to Bishkek has met with President of the Kyrgyz Republic Sooronbay Jeenbekov.

Kassym-Jomart Tokayev thanked his Kyrgyz counterpart for a warm welcome.

"Our meeting in Bishkek after my inauguration is a good sign. We have recently met in Nur-Sultan and discussed a...

An official opening ceremony of the Kazakh-Malaysian Business Council office was held in Kuala Lumpur. Those attending the event were the executives of government agencies, development institutions, mass media, national and private companies of the two countries.

The Kazakh-Malaysian Business Council held a working session during the event. The sides shared...

Kazakhstan President Kassym-Jomart Tokayev divided June 13 the Agency for Civil Service Affairs and Anti-Corruption into separate state bodies. Both bodies will be subordinate to the president. The change took effect immediately.

The Agency for Civil Service Affairs and Anti-Corruption was renamed the Agency for Civil Service Affairs. It will oversee...

On June 13 at an extraordinary meeting of the municipal maslikhat, President Kassym-Jomart Tokayev announced his decision to appoint Altay Kulginov as a new mayor of the city.

The deputies backed Kulginov's candidacy for this post.

The President said that important tasks are set to the new Mayor of the city.

"Altay Kulginov...

Askhat Aimagambetov has been appointed as the Minister of Education and Science of the Republic of Kazakhstan.

The President of Kazakhstan decreed to appoint Mr. Aimagambetov as the Minister of Education and Science on June 12, 2019.

Additionally, Kulyash Shamshidinova was relieved of the post of the Minister of Education and Science.

By...

President of the Republic of Kazakhstan Kassym-Jomart Tokayev gave interviews to Euronews and The Wall Street Journal, for the first time after the swearing-in ceremony.

The journalists asked the President questions regarding the further development of Kazakhstan, the current focal points of Kazakhstan's foreign policy.

By Kazinform.

957 people were brought to administrative responsibility for participation in extralegal actions, said Saparbek Nurpeisov, head of the Public Interest Protection Service of the General Prosecutor's Office of the Republic of Kazakhstan, at a briefing.

“For participation in extra-legal actions, for non-fulfillment of legal demands of police officers, 957 people...

The Ministry of the Interior Affairs told how much damage was caused by fraudsters in Kazakhstan. According to the ministry, this year the damage to individuals amounted to 24.6 billion tenge.

"Currently, 1.9 billion tenge has already been reimbursed to victims. In 2018, the damage amounted to 16 billion tenge, and...

Minister of Industry and Innovative Development of the Republic of Kazakhstan Roman Sklyar told at the reporting meeting with the population about how many jobs will be created in the country in the coming years thanks to the state programmes.

"This year, as part of the Industrialization Map, we plan to...

As of the end of May of this year, the funds of the National Fund of Kazakhstan amounted to 26 trillion tenge, the amount increased by 12.3% on-year. In the same period last year, the funds of the National Fund amounted to 23.1 trillion tenge, with an increase by 1.1%...

The amount of cash withdrawn in April amounted to 1.3 trillion tenge, 4.2% more than in March, and by 18.2% more compared to April 2018. Despite the increase in cash withdrawal, the share of the transaction from card turnover decreased to 59.9% in April 2019, a month earlier it reached...

Russian Economic Development Minister Maxim Oreshkin predicts that Uzbekistan may soon become the second economy in the post-Soviet space. Thus, independent economist Alexander Yurin recalled that Uzbekistan as a whole has a rather high potential both as a sales market and as a supplier of certain types of products that...

On June 12, 2019, S&P Global Ratings reported confirming the credit rating assigned to the Eurasia Insurance Company in November 2018 at the BBB- level with a Stable outlook and at kzAAA on the national rating scale.

Thus, despite the period of turbulence, changing external conditions and increased competition in the...

Based on results of trades on the spot-market:

- weighted average US dollar rate with settlements T+1 in tenge (USDKZT_TOМ) made up KZT384.44 per US dollar at the trades volume of USD73,954 th.;

- on US dollar with settlements Т+0 and T+2 in tenge no deals were made; at the session close...

The U.S. dollar was little changed against the euro on Thursday as investors were reluctant to take large positions before next week’s Federal Reserve meeting and the G20 summit in Japan later this month.

Tepid inflation and weakening economic data in the midst of a U.S.-China trade war has fed expectations...

The international price agency Argus presents an overview of the promising markets for Kazakhstan’s gasoline and invites to participate in the third Argus Oil and Gas Market of Kazakhstan and Central Asia 2019 international conference, which will be held on June 27-28 in Almaty.

The total gasoline surplus in Kazakhstan this...

Kazakhstani refiners visited production assets and the KazMunayGas International corporate centre in Romania. The delegation included representatives of KazMunayGas NC, as well as the Atyrau and Pavlodar refineries.

According to Muratzhan Musaybekov, the managing director of oil refining at KazMunayGas NC, the main objectives of the visit to Romania were to...

Kazakhstan supports extending a global output cut deal by OPEC and non-OPEC producers until the end of this year, Kazakh Energy Minister Kanat Bozumbayev told Reuters.

Bozumbayev said Central Asia's biggest oil exporter had outperformed in terms of compliance with the pact so far this year by cutting output to 1.76...

Offshore oil services providers stand to gain as oil companies increase approvals for new projects, but the activity boom raises risks of cost overruns and could deter future spending, researcher Rystad Energy said on Thursday.

A rush to accelerate projects, especially those involving tailor-made designs, increases the uncertainty of their final...

Kazakhstan’s benchmark Urals crude’s oil differentials against dated Brent edged lower on Thursday in the Mediterranean and northwest Europe regions as sellers unsuccessfully tried to shift remaining June cargoes amid weak demand.

Backwardation in dated Brent weighed on the grade’s values, especially for cargoes loading towards the end of the month,...

Oil prices jumped as much as 4% on Thursday after a suspected attack on two tankers in the Gulf of Oman near Iran and the Strait of Hormuz, through which a fifth of global oil consumption passes.

The Marshall Islands-flagged Front Altair carrying naphtha and the Panama-flagged Kokuka Courageous carrying methanol...

The authorities of Kazakhstan received more than 100 applications for the issuance of licenses for the use of mineral resources for solid minerals on the basis of the first application.

"To date, more than 100 applications have already been received. Now they are waiting for the deadline to receive subsoil use...

Technogran Aktobe plans to build a pig iron plant worth $200 million in Mangistau region, deputy regional governor Nurdaulet Kilybai told. According to him, the parties signed a memorandum on the implementation of the project.

"The plant is planning to produce 250 thousand tonnes of pig iron, 250 thousand tonnes of...

Giessenhaus, located on the territory of the Pavlodar FEZ, began shipping alloys to Uzbekistan, the head of the FEZ, Aibek Tursyngaliyev, told. "The Pavlodar company has signed a contract for the supply of doped aluminium to Uzbekistan. Today, the first batch of more than 46 tonnes has been shipped," Tursyngaliyev...

Gold prices advanced on Thursday as demand for the safe-haven metal rose on expectations of an interest rate cut by the U.S. Federal Reserve following soft inflation data, and on escalating trade tensions between the world’s top two economies.

Spot gold was up 0.3% at $1,337.41 per ounce, as of 0706...

Copper prices slipped towards the five-month lows seen earlier this month on Thursday as nervousness about demand in top consumers China and the United States, weak Chinese data and higher inventories hit sentiment.

Benchmark copper on the London Metal Exchange was untraded in official rings, but bid down 0.4% at $5,827...

Standard Hydro Power is planning to build two cascades of hydropower plants on the Buyen River in the Aksu district of the Almaty region, the regional administration reported. The total cost of construction of small hydropower plants on the Buyen River and its tributaries is 6.01 billion tenge.

According to the...

Kazakhstan must first use idle coal capacity, and then think about nuclear energy. This opinion was expressed by Nikolay Radostovets, the Executive Director of the National Association of Mining and Metallurgical Enterprises.

The issue of nuclear energy should be viewed not from the point of view of someone’s interests, but from...

In January-May 2019, retail trade turnover amounted to more than 3.9 trillion tenge, with an increase by 5% compared with the corresponding period of 2018. The share of food products in total trade amounted to 32.4% or about 1.3 trillion tenge, non-food products to 67.6% or about 2.7 trillion tenge.

At...

Kokshetau plans to build a noodle factory worth 200 million tenge. An agreement with a Chinese investor on the construction of the enterprise has been reached.

"The initiator of the project is MK Ramadan. The construction of the plant is scheduled to begin in the third quarter of 2019. Currently, the...

Over four months of the current year, prices for exported Kazakhstan goods increased by 2.5%, for imported by 3.1%, the Statistics Committee of the Ministry of National Economy of Kazakhstan reported.

According to statistical data, over the past period, prices for export supplies increased for wheat by 13.6%, cotton by 4.4%,...

North Kazakhstan is one of the largest regions by the production of livestock products. Currently, an important area in animal husbandry is the development of beef cattle. Beef cattle stands for specialised beef breeds of livestock, and the availability of growing technologies that ensure maximum productivity.

Breed, as a means of...

Chicago corn extended a rally to approach a one-year high on Thursday as forecasts of more rain in the U.S. Midwest threatened to exacerbate planting delays that have put a question mark over this year's harvest. Soybeans rose for a fourth consecutive session as the persistent rain in the Midwest...

The volumes of production of motor vehicles, trailers and semi-trailers in Kazakhstan are growing for the third year in a row and amounted to 83.9 billion tenge in January-April 2019. The industrial production index reached 145.8% compared to January-April 2018.

In real terms, in April 2019, 4.05 thousand vehicles were produced...

The diverse relations between China and Azerbaijan, which have intensified in recent years, are expected to enter a new phase within the Belt and Road Initiative.

Cooperation in the trade, economic and humanitarian fields is an important part of Chinese-Azerbaijani relations, Ambassador of China to Azerbaijan Wei Jinghua told Trend.

In his words,...

China saw steady foreign direct investment (FDI) growth in May, official data showed Thursday.

FDI reached 63.83 billion yuan (about 9.47 billion U.S. dollars) last month, up 8.5 percent year on year, according to the Ministry of Commerce (MOC).

Total foreign investment actually utilized in the past five months stood at 369.06...

Chinese stocks closed mixed on Thursday, with the benchmark Shanghai Composite Index up 0.05 percent to finish at 2,910.74 points.

The Shenzhen Component Index closed 0.03 percent lower at 8,951.61 points.

The combined turnover of stocks in the two indices stood at 449.7 billion yuan (about 65.23 billion U.S. dollars), shrinking from...

The Russian rouble weakened on Thursday, falling from a two-week high it reached earlier this week as traders were pricing in a drop in oil prices on Wednesday, when the Moscow Exchange was closed for a public holiday.

At 0732 GMT, the rouble was 0.1% weaker against the dollar at 64.63,...

The Central Bank of Russia (CBR) reported Thursday that the country’s international reserves amounted to $502.7 billion last week, thus exceeding the target level set by the regulator.

The figure is up by $7.5 billion from the level seen a week earlier. According to the CBR, reserves increased by 1.5 percent...

More than 90% of the Russian business community have complained about increasing interference by domestic law enforcement structures in commercial disputes, RBC writes citing its new opinion poll carried out in late May-early June. The poll, titled RBC Market Researches, questioned more than 3,200 respondents, half of them businesspersons and...

Mongolian industrial output increased by 15.7 percent year-on-year in the first five months of 2019, reaching 6.9 trillion Mongolian tugriks (2.6 billion U.S. dollars), official data showed Thursday.

The growth was mainly attributed to a significant increase in the output of main mining and extractive products, according to the National Statistical...

Liquefied natural gas (LNG) has played an important role in the global energy system during the last decades as many countries began using this type of gas.

SOCAR Trading, which is the trading house of Azerbaijan’s state oil company SOCAR, has raised the trade in LNG more than four times, the...

Date: June 14 2019; Source: Bloomberg.com

Energy

Precious and Industrial Metals

Agriculture

Date: June 14, 2019; Source: the National Bank of Kazakhstan