Kazakh President Kassym-Jomart Tokayev received the Head of the Republic of Sakha (Yakutia), Aisen Nikolayev, who arrived in Astana to attend the V World Nomad Games opening ceremony.

The parties debated the key directions for strengthening interregional cooperation and expanding bilateral ties.

Kassym-Jomart Tokayev said all-round development of cooperation between the regions...

The Kazakh President received Rais of Tatarstan Rustam Minnikhanov who arrived in the Kazakh capital to participate in the opening ceremony of the V World Nomad Games.

The Head of State expressed gratitude to Rustam Minnikhanov for his participation in this important international gathering.

In turn, he thanked the Head of State...

The Kazakh President received Chairman of Halk Maslakhaty of Turkmenistan Gurbanguly Berdimuhamedov.

The Head of State expressed gratitude to Gurbanguly Berdimuhamedov for his participation in the opening ceremony of the V World Nomad Games in Astana.

In turn, he thanked the Head of State for a warm welcome and wished success in...

Roman Vassilenko, Deputy Foreign Minister of the Republic of Kazakhstan, paid a working visit to Belgrade. His visit included discussions with Serbian government and parliamentary officials, as well as participation in a meeting of the Intergovernmental Commission on Trade and Economic Cooperation between Kazakhstan and Serbia (IGC).

During the meeting with...

First Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Akan Rakhmetullin received copies of credentials from newly appointed Ambassador of the Republic of Finland to the Republic of Kazakhstan Janne Heiskanen.

Welcoming the new Ambassador, Akan Rakhmetullin commended the progressive development of Kazakh-Finnish relations in the political, economic, cultural...

The Ministries of Foreign Affairs of Kazakhstan and Norway held the fourth round of political consultations.

Welcoming the Norwegian delegation, Kazakhstan’s Deputy Minister of Foreign Affairs Roman Vassilenko highlighted the importance of the development of Kazakh-Norwegian political and economic cooperation as well as people-to-people ties. He reiterated the commitment to deepen...

Ambassador of the Republic of Kazakhstan Kanat Tumysh presented credentials to the acting Head of the Kingdom of Cambodia, Chairman of the Senate of the Parliament Samdech Hun Sen.

At the beginning of the meeting, Hun Sen warmly welcomed and congratulated Kanat Tumysh on his appointment as Ambassador of the Republic...

The Ministry of Foreign Affairs of Kazakhstan hosted a solemn award ceremony for the winners of the 9th annual international contest “Kazakhstan Through the Eyes of Foreign Media”. This year, the jury recognized the works of journalists from Azerbaijan, Brazil, Egypt, Spain, Italy, Kyrgyzstan, Russia, and Japan as the best...

Since the beginning of the year, there have been 16 strikes at enterprises in Kazakhstan. This was reported by the Ministry of Labour and Social Protection of the Population.

According to the ministry, all of them took place at 11 enterprises of the Mangystau region. There has been one rolling protest...

The volume of net sales of Russian rouble by Kazakhstani exchange offices in July 2024 amounted to minus 9.5 billion tenge, that is, more rouble was sold to exchange offices than was bought. A month earlier, net sales amounted to minus 8.6 billion tenge, and in July last year to...

In July 2024, Kazakhstan's banking sector showed moderate growth in assets, loan portfolio and deposits. The banks' assets continued to grow, which, among other things, was facilitated by the expansion of the deposit base. The loan portfolio grew due to an increase in lending to individuals, which was accompanied by...

Kazakhstani investors are advised to take a closer look at the yen and yuan. This opinion was voiced by analysts. Zarina Skripchenko, a leading analyst at AFK, noted that in order to minimize risk, free funds are usually placed in various assets, including currencies of other states.

"When making such investments,...

The Agency for Regulation and Development of the Financial Market wants to allow microfinance organisations to call their customers who have overdue payments on weekends and holidays. The relevant draft resolution has been published on the Open NPAs portal and is available for discussion until September 19.

The Agency intends to...

Kazakhstan's Business Activity Index (BAI) increased to 51.4 in August from 50.9 in July, as reported by the National Bank of Kazakhstan. This index reflects improvements in business activity based on a monthly survey of enterprises. All sectors experienced an upward trend. The mining sector saw the most significant improvement, with its...

Since early 2024, the Eurasian Development Bank (EDB) has injected over $900mn into a range of projects spanning multiple sectors across Kazakhstan.

Kazakhstan's Prime Minister, Olzhas Bektenov recently met with Nikolai Podguzov, Chairman of EDB Management Board, to explore opportunities for expanding investment collaboration and the EDB’s role in key infrastructure projects across...

Binance is on track to become Kazakhstan’s first fully regulated cryptocurrency exchange.

As of September 6, Binance Kazakhstan has secured “formal consent” from the Astana Financial Services Authority (AFSA) for a complete regulatory license, moving closer to full compliance.

The local branch of Binance has met all licensing requirements, including passing thorough financial audits,...

As of July 1, 2024, the assets of institutions engaged in microfinance activities (MFIs) amounted to 2.8 trillion tenge, an increase of 5.1% or 136 billion tenge in the 2nd quarter. The increase in assets is due to the growth of the loan portfolio of microfinance organisations, with reference to...

Loans to the economy issued by second-tier banks increased by 1.4% to KZT30.5 trillion in July 2024. Since the beginning of the year, the indicator has increased by 9.3%, with reference to data from the Agency for Regulation and Development of the Financial Market.

The volume of loans in national currency...

In July 2024, the volume of deposits of Kazakhstanis in deposit organisations increased by 2.1%, to 36.5 trillion tenge. Basically, the Agency for Regulation and Development of the Financial Market explains, this was due to an increase in deposits in tenge by 2.7%, to 28.5 trillion tenge, with reference to...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on September 6, 2024 at 17:00 amounted to 480.40 tenge. Compared with the data at 17:00 on September 5 (482.75 tenge per 1 dollar), the national currency strengthened by 2.35 tenge against the dollar.

During the trading week, the...

The dollar moved erratically on Friday following the release of U.S. employment data that indicated slower-than-anticipated job growth in August. Nonfarm payrolls showed an increment of 142,000 jobs last month, falling short of expectations and suggesting a steady deceleration in the labor market. This development is expected to support gradual...

The assets of insurance and reinsurance companies increased by 3.7% to 2.7 trillion tenge by the end of July 2024. Since the beginning of the year, this indicator has increased by 9%, with reference to data from the Agency for Regulation and Development of the Financial Market.

As of August 1,...

Repairs at the Kashagan field will begin in accordance with the schedule from October 3, 2024, with reference to the press service of the Ministry of Energy of Kazakhstan.

"Media reports that the Ministry of Energy has asked the shareholders of the Kashagan oil field to postpone maintenance are not true....

Oil prices continue to fall on world markets, and Kazakh grades of oil are no exception. Following the ban on Libyan oil exports, the value of the Kazakh CPC brand, which is exported through the Caspian Pipeline Consortium (CPC), decreased from $81 to $74.89 per barrel last week.

As for another...

The annual capacity of the Caspi Bitumen plant is planned to be increased by 250 thousand tonnes. This is reported in a press release from the press service of NC KazMunayGas.

"Chairman of the Management Board of NC KazMunayGas Askhat Khasenov visited Aktau bitumen plant of JV Caspi Bitumen in Mangistau...

The Ushkuyu oil and gas company, one of the shareholders of which is the former head of QazaqGaz, Kairat Sharipbayev, has improved its financial performance. In 2023, it received 29.4 billion tenge of profit against a loss of 13.7 billion tenge a year earlier, according to the company's financial statements....

Oil pared gains on Friday after data showed U.S. employment increased less than expected in August, and was on track for a heavy weekly loss as demand concerns outweighed a delay to supply increases by OPEC+ producers.

Brent crude futures rose 29 cents, or 0.4%, to $72.98 a barrel by 1320...

Prime Minister Olzhas Bektenov during his working trip to Akmola region visited Stepnogorsk Mining and Chemical Combine, which is one of the flagships of domestic industry, where he met with the staff and discussed topical issues of energy security and development of domestic industry. Attention was paid to the implementation of...

Kazchrome (part of the ERG Group) plans to increase production in 2024, said Sergey Prokopyev, CEO of the company.

"This year, Kazchrome plans to produce 1,860-1,895 million tonnes of ferroalloys. This is the corridor we are counting on. If we talk about ore extraction, it is more than 6 million tonnes....

Eurasian Natural Resources Corporation (ENRC), which ceased to exist as an independent company in 2013 and became part of the Eurasian Resources Group (ERG), won a final victory in the Court of Appeal of England and Wales over the UK Serious Fraud Office (SFO), according to an ERG release.

The Court...

The Kazakh gold mining company Solidcore Resources (formerly Polymetal) needs to invest $1 billion in order to achieve final operational independence from Russia, citing the words of the company's financial director Maxim Nazimok.

"We need to invest $1 billion to achieve final operational independence from Russia. This is, first of all,...

Kazakhstan continues to reduce the share of precious metals in the structure of gold and foreign exchange assets. In response to an official request, the National Bank noted that according to the results of the first half of 2024, gross international reserves amounted to $39.9 billion. And the share of...

Gold prices were steady near one-week highs on Friday, on track for a small weekly rise, aided by a weaker dollar as investors awaited U.S. payrolls data to gauge the strength of labor market and the scale of a potential interest rate cut this month.

Spot gold was little changed at...

Copper prices were on track for a second consecutive weekly fall on Friday as concerns about global economic growth kept industrial metals under pressure.

The three-month copper contract on the London Metal Exchange (LME) rose 0.1% to $9,105.50 a metric ton by 1021 GMT but was down 1.3% over the week.

Copper,...

Energy Week Central Asia and Caspian 2024 took place on Sept. 5-6 in Astana, focusing on the region’s green transition. The event featured in-depth discussions on policy and regulatory frameworks, financing renewable energy, and technology-specific projects, including solar PV, storage, wind energy, green hydrogen, and hydropower.

The region’s substantial untapped renewable...

There are plans to launch three production facilities with foreign participation in the Almaty region. This was told in the regional administration.

An investor from Uzbekistan will help open a rolled metal production plant for 27.7 billion tenge. It is expected that the capacity of the enterprise will amount to 400...

It has become more expensive to build in Almaty, Astana and Shymkent. In January-August of this year, prices for stone, limestone, slate and gypsum soared 1.6 times compared to the same period last year, according to the Bureau of National Statistics.

The cost of refined petroleum products also increased by 11.2%,...

Manufacturing has overtaken the mining industry in terms of its share in the GDP of Kazakhstan in 2024, Industry and Construction Minister Kanat Sharlapaev said during the Astana Finance Days 2024 Conference in the Kazakh capital of Astana.

During the event, the Kazakh minister pointed out that Kazakhstan is interested in...

In January-July of this year, Kazakhstani poultry farms and farmers received 2.6 billion eggs, 10.3% less than in the same period of 2023.

In the regional context, the Akmola region became the leader: 404.6 million eggs. There is a decrease of 5.3% in the annual dynamics. The Karaganda region (375.4 million...

In the Zhambyl region, it is planned to return 80 thousand hectares of agricultural land to state ownership, with reference to the press service of the Land Management Committee.

"The Committee on Land Management of the Ministry of Agriculture for 2024 in the Zhambyl region plans to return agricultural land with...

10 billion tenge was allocated for the construction and expansion of six dairy farms in Pavlodar region. Among them are four operating: Agro Trade PV, Galitsky, Ushterek and K and Pakhar. The implementation of these projects will increase milk production by 37.4 thousand tonnes, and breeding stock by 4.7 thousand...

Chicago soybeans and wheat eased on Friday as traders decided that a fortnight-long rally which lifted prices from near four-year lows has left the contracts overvalued amid plentiful supply, while corn edged higher after falling the previous day.

All three crops were nevertheless on track for weekly gains.

The most-active wheat contract...

According to the Bureau of National Statistics of Kazakhstan, in January-July 2024, Kazakhstani telecom operators earned 774.465 billion tenge, which is 21% more than the volume of communication services in Kazakhstan in January-July 2023.

The volume of local telephone services in January-July amounted to 17.4 billion tenge, which is at the...

This was told by the chairman of the Management Board of the company, Nurlan Sauranbayev. Speaking during the Astana Finance Days 2024 session, the head of KTZ answered a question about the expected initial placement of KTZ.

"We want to offer the transit part to investors. And in order to use...

The work of the truck weighing system has started in the capital, which should help ensure the safety of roads and protect other road users, the press service of the Ministry of Transport of Kazakhstan reported.

The Automatic Vehicle Weighing System (AVWS) monitors the excess weight limit and photographs the vehicle,...

In order to strengthen cooperation in the field of space technologies and satellite communications in Kazakhstan, the Ministry of Digital Development, Innovation and Aerospace Industry and Amazon Kuiper signed a memorandum of understanding. The signing of this document opens up new prospects for the introduction of innovations in the satellite...

Astana Motors will invest $12 million in the construction of 250 EV charging stations in Astana, Almaty and Shymkent. The company expects to put them in service before 2028, Head of Distribution in Astana Motors Akylbek Anarbayev said at the Astana Finance Days conference.

The enterprise has already launched the My Charge project...

Kazakhtelecom has valued its wholly-owned subsidiary Mobile Telecom Service (which operates the Tele2 and Altel brands) at $1.1 billion of assets, according to the national operator’s statement for the first six months of 2024, posted on the Kazakhstan Stock Exchange (KASE) website. The buyer is Qatar-based Power International Holding (PIH).

The...

Kcell, a Kazakhstani mobile operator that operates the Kcell and Activ brands, has placed three-year bonds with a total nominal value of $62.2 million on the Astana International Exchange (AIX), according to a company statement posted on the Kazakhstan Stock Exchange (KASE) website. The funds raised will be used to...

In Kazakhstan, it is proposed to revise the system of contributions for compulsory medical insurance. In an interview, Chairman of the Board of Nomad Life Yerlan Kambetbayev spoke about the initiative, which was sent to the ARDFM and professional participants.

"We propose to review the distribution of contributions to the Social...

The second Sunday of September is a Single Voting Day (SVD) in Russia. In 2024, the SVD is multi-day for the fifth time and will be held from the 6th to the 8th, including online. More than 57 million people in all regions except the Magadan Region and Ingushetia, as...

The Russian market has been stormy all week. Friday ended neutrally. At the end of the day, the Moscow Stock Exchange index increased by a symbolic 0.07% and amounted to 2,623.37 points, the RTS index lost 0.06% to 920.06 points. "The limiting factors were the deterioration of the market conditions...

At the beginning of a new academic year, traditionally a lot of attention is paid to what knowledge the modern younger generation receives. The development of financial literacy is now playing an increasingly important role in children's and adolescent education. Special offers from banks for a young audience help to...

On the second day of the EEF, participants actively discussed the prospects of doing business with China sanctions significantly limited the presence of delegations from other countries that had previously actively attended the forum. The Chinese business is increasing its presence in the Russian market. However, the reverse process the...

China’s yuan was steady on Friday, as easing expectations offset the positive impact from a weaker dollar.

It changed hands at roughly 7.090 per dollar at midday, barely moving from the previous day’s close.

The Chinese currency has strengthened more than 2.6% since the end of July, as the greenback weakened amid...

China stocks finished at seven-month lows on Friday, as sharp falls in technology and property shares outweighed gains in brokerages fuelled by consolidation bets.

The Shanghai Composite index closed down 0.81% at 2,765.81 points, while the blue-chip CSI300 index ended 0.81% lower at 3,231.35 points. Both recorded their lowest closing levels...

China's foreign exchange reserves totaled 3.2882 trillion U.S. dollars as of the end of August, up by 31.8 billion dollars, or 0.98 percent compared to the end of July, official data showed Saturday.

China's foreign exchange reserves have remained stable above 3.2 trillion U.S. dollars for nine consecutive months, according to...

Restrictions on foreign investment in the manufacturing sector will be lifted with the release of the 2024 version of the negative list for foreign investment access, China's top economic planner announced Sunday.

Jointly issued by the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOC), the negative list,...

The Ministry of Justice said Friday that it would proactively enhance legislative efforts in key sectors to spur high-quality economic development and improve the macroeconomic governance system.

Aiming at building a unified national market and improving the business environment, the ministry has accelerated the process of revising the Anti-Unfair Competition Law...

Date: September 6, 2024; Source: the National Bank of Kazakhstan