Issue 4471 - 13.06.2024
13.06.2024

The presidents of Kazakhstan and South Korea discussed cooperation issues

Kassym-Jomart Tokayev held negotiations with the President of the Republic of Korea Yun Seok Yeol in an expanded format.

During negotiations with the participation of delegations of the two countries, Kassym-Jomart Tokayev called the first state visit of Yun Sok Yeol to Kazakhstan a historical event. He emphasized that today's negotiations will expand the scope of Kazakh-Korean integration and raise bilateral ties to a new level.

As the leader of Kazakhstan said, South Korea has become a true economic and technological locomotive on a global scale, and world-famous Korean corporations serve as serious assistance in promoting the country’s position in the international arena as a “key global state.”

Then Kassym-Jomart Tokayev focused on the development of bilateral relations. According to him, Seoul is one of the most important strategic partners of Kazakhstan in the Asia-Pacific region. Korea ranks 4th in foreign trade turnover and is among the ten largest foreign investors in Kazakhstan.

The President of the Republic of Kazakhstan noted that over a third of a century, Kazakhstan and Korea have reached a high level of political dialogue, established fruitful economic cooperation and strong humanitarian ties. The two countries interact in various areas, including interparliamentary, intergovernmental and interdepartmental contacts. The Business Council and the Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation are functioning successfully.

According to Kassym-Jomart Tokayev, regular contacts between entrepreneurs of the two countries play a very important role in building close ties. He was pleased to announce that more than 700 companies with South Korean capital are successfully operating in Kazakhstan.

The parties also focused on the development of cultural and humanitarian ties.

“120 thousand ethnic Koreans in Kazakhstan play an important role and make an invaluable contribution to strengthening our relations. In turn, more than 1 thousand Kazakh students studying in Korea are a “golden bridge of friendship” between our friendly countries,” added Kassym-Jomart Tokayev.

President Yoon Seok Yeol expressed gratitude for the warm welcome on Kazakh soil and noted that this year the Republic of Korea and Kazakhstan are celebrating the 15th anniversary of the establishment of a strategic partnership.

“The Republic of Korea intends to move forward together, hand in hand, towards a brighter and more prosperous future with Kazakhstan, our key strategic partner,” the Korean leader said.

During the negotiations, the prospects for bilateral cooperation in such areas as energy, infrastructure and industry, mechanical engineering, trade, transport and logistics, digitalization and aerospace industry, financial sector, education, healthcare and pharmaceuticals, tourism and culture, ecology and others were discussed.

At the end of the meeting, Kassym-Jomart Tokayev expressed gratitude to the Korean side for meaningful and constructive negotiations.

By the Kazakhstanskaya Pravda

Kazakhstan General

13.06.2024

Presidents of Kazakhstan and Korea adopted a joint statement

Following the negotiations, the presidents of Kazakhstan and Korea Kassym-Jomart Tokayev and Yun Seok Yeol adopted a joint statement.

The following documents were signed by members of official delegations:

1. Agreement on cooperation in the development of the energy industry;

2. Agreement on cooperation in the oil, gas and petrochemical industries;

3. Memorandum of...

Following the negotiations, the presidents of Kazakhstan and Korea Kassym-Jomart Tokayev and Yun Seok Yeol adopted a joint statement.

The following documents were signed by members of official delegations:

1. Agreement on cooperation in the development of the energy industry;

2. Agreement on cooperation in the oil, gas and petrochemical industries;

3. Memorandum of...

13.06.2024

Kazakh and Korean Presidents held negotiations in a limited format

Negotiations between the presidents of Kazakhstan and the Republic of Korea took place in the Eastern Hall in Akorda in a narrow format.

Kassym-Jomart Tokayev thanked Yun Seok Yeol for accepting the invitation to visit Kazakhstan, and noted that he considers this visit as a manifestation of a sincere desire to...

Negotiations between the presidents of Kazakhstan and the Republic of Korea took place in the Eastern Hall in Akorda in a narrow format.

Kassym-Jomart Tokayev thanked Yun Seok Yeol for accepting the invitation to visit Kazakhstan, and noted that he considers this visit as a manifestation of a sincere desire to...

13.06.2024

Presidents of Kazakhstan and the Republic of Korea held a briefing for media representatives

Kassym-Jomart Tokayev expressed sincere gratitude to President Yun Seok Yeol for accepting the invitation to visit our country. The leader of Kazakhstan also said that there is every reason to consider today significant in the history of Kazakh-Korean friendship.

“We attach special importance to the state visit of the Korean President,...

Kassym-Jomart Tokayev expressed sincere gratitude to President Yun Seok Yeol for accepting the invitation to visit our country. The leader of Kazakhstan also said that there is every reason to consider today significant in the history of Kazakh-Korean friendship.

“We attach special importance to the state visit of the Korean President,...

13.06.2024

Kazakhstan notes decrease in number of poor people

There are more poor people in some regions of Kazakhstan. At the end of the first quarter of this year, 928.1 thousand Kazakhstanis survived on incomes below the subsistence level*, which is 4.6% of the total population. Compared to the same period in 2023, their number decreased slightly (-1.6%), reports...

There are more poor people in some regions of Kazakhstan. At the end of the first quarter of this year, 928.1 thousand Kazakhstanis survived on incomes below the subsistence level*, which is 4.6% of the total population. Compared to the same period in 2023, their number decreased slightly (-1.6%), reports...

Finance and Investment

13.06.2024

Medium and large businesses in Kazakhstan prefer short-term loans in anticipation of lower rates

The Analytical Centre of the Association of Financiers of Kazakhstan (AFK) published a review of lending to business entities for the first quarter of 2024.

At the end of the first quarter of 2024, the banking sector issued 4 trillion tenge of new loans to businesses, which is 33% or 1...

The Analytical Centre of the Association of Financiers of Kazakhstan (AFK) published a review of lending to business entities for the first quarter of 2024.

At the end of the first quarter of 2024, the banking sector issued 4 trillion tenge of new loans to businesses, which is 33% or 1...

13.06.2024

Volume of transactions with Kazakhstan Stock Exchange index shares in May reaches 9.3 billion tenge

The KASE Index value in May increased by 0.5% and by the end of the month amounted to 5,038.55 points. The volume of transactions in index shares in May amounted to 9.3 billion tenge, which is 2.0 billion tenge lower than in April, with reference to data from the Kazakhstan...

The KASE Index value in May increased by 0.5% and by the end of the month amounted to 5,038.55 points. The volume of transactions in index shares in May amounted to 9.3 billion tenge, which is 2.0 billion tenge lower than in April, with reference to data from the Kazakhstan...

13.06.2024

Kazakhstan requires banks to indicate fees for payments and transfers separately

The Agency for Regulation and Development of the Financial Market wants to oblige banks to publish information on commissions for non-cash payments and transfers separately from other types of rates and tariffs. The corresponding draft resolution was published on the Open NLA website. Discussion of the document will last until...

The Agency for Regulation and Development of the Financial Market wants to oblige banks to publish information on commissions for non-cash payments and transfers separately from other types of rates and tariffs. The corresponding draft resolution was published on the Open NLA website. Discussion of the document will last until...

13.06.2024

New bank appears in Kazakhstan

Head of State Kassym-Jomart Tokayev supported the decision to transform another MFO into a second-tier bank. “The microfinance organisation BNK Finance Kazakhstan operates in the country. I support the decision to make it a second-tier bank,” he said during a meeting with South Korean President Yoon Seok Yeol.

The sole shareholder...

Head of State Kassym-Jomart Tokayev supported the decision to transform another MFO into a second-tier bank. “The microfinance organisation BNK Finance Kazakhstan operates in the country. I support the decision to make it a second-tier bank,” he said during a meeting with South Korean President Yoon Seok Yeol.

The sole shareholder...

13.06.2024

Kazakhstan attracts investors with benefits

The Ministry of National Economy explained what preferences for investors they plan to include in the new Tax Code.

“The project is considering the possibility of expanding the scope of application of investment benefits in terms of deducting the cost of preference objects and subsequent expenses for reconstruction and modernisation of...

The Ministry of National Economy explained what preferences for investors they plan to include in the new Tax Code.

“The project is considering the possibility of expanding the scope of application of investment benefits in terms of deducting the cost of preference objects and subsequent expenses for reconstruction and modernisation of...

13.06.2024

Weighted average US dollar rate on Kazakhstan Stock Exchange reaches 451.54 tenge

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on June 12, 2024 at 17:00 amounted to 451.54 tenge. Compared to the data as of 17:00 on June 11 (449.95 tenge per 1 dollar), the national currency weakened by 1.59 tenge against the dollar.

According to KASE information,...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on June 12, 2024 at 17:00 amounted to 451.54 tenge. Compared to the data as of 17:00 on June 11 (449.95 tenge per 1 dollar), the national currency weakened by 1.59 tenge against the dollar.

According to KASE information,...

13.06.2024

Greenback nosedives as stock markets hold firm

The dollar tumbled on Wednesday after data showed that consumer prices in May rose less than economists expected, adding to bets that the Federal Reserve may begin cutting interest rates as soon as September. Headline inflation was flat on the month, below expectations for a 0.1% gain. Core prices rose...

The dollar tumbled on Wednesday after data showed that consumer prices in May rose less than economists expected, adding to bets that the Federal Reserve may begin cutting interest rates as soon as September. Headline inflation was flat on the month, below expectations for a 0.1% gain. Core prices rose...

Oil and Gas Sector

13.06.2024

Kazakhstan fully fulfils all obligations within OPEC+ in June

The Ministry of Energy reported that Kazakhstan will fully fulfil all its obligations to the Organisation of Petroleum Exporting Countries (OPEC) and partners (OPEC+) in June.

“Kazakhstan remains fully committed to the OPEC+ agreement. According to estimates from independent sources approved by the agreement, in May Kazakhstan exceeded its obligations by...

The Ministry of Energy reported that Kazakhstan will fully fulfil all its obligations to the Organisation of Petroleum Exporting Countries (OPEC) and partners (OPEC+) in June.

“Kazakhstan remains fully committed to the OPEC+ agreement. According to estimates from independent sources approved by the agreement, in May Kazakhstan exceeded its obligations by...

13.06.2024

Hyundai shares petrochemical technologies with KazMunayGas

The South Korean company Hyundai Engineering Co., Ltd and KazMunayGas signed an agreement on the terms of technology exchange in the petrochemical industry, KMG reported.

KazMunayGas signed a cooperation agreement with the South Korean engineering company Hyundai Engineering Co., Ltd. The parties agreed to cooperate in the oil, gas and petrochemical...

The South Korean company Hyundai Engineering Co., Ltd and KazMunayGas signed an agreement on the terms of technology exchange in the petrochemical industry, KMG reported.

KazMunayGas signed a cooperation agreement with the South Korean engineering company Hyundai Engineering Co., Ltd. The parties agreed to cooperate in the oil, gas and petrochemical...

13.06.2024

Gas continues to rise in price in Kazakhstan

Gas in Kazakhstan will continue to rise in price until wholesale prices are equal to production costs. In Kazakhstan, there are maximum wholesale prices for commercial gas, which are formed separately for each region. The cost of purchased raw materials, transportation costs through main pipelines and storage are taken into...

Gas in Kazakhstan will continue to rise in price until wholesale prices are equal to production costs. In Kazakhstan, there are maximum wholesale prices for commercial gas, which are formed separately for each region. The cost of purchased raw materials, transportation costs through main pipelines and storage are taken into...

13.06.2024

Kazakhstan seeks full-scale transfer of South Korean technologies in oil and gas sector

Kazakh leader Kassym-Jomart Tokayev urged the Republic of Korea to step up partnership in subsoil use while addressing the Kazakhstan-Korea Business Forum underway in Astana. "Let me provide our vision of the most promising areas of cooperation. First, enhanced cooperation in the strategic spheres of our economies, which are subsoil...

Kazakh leader Kassym-Jomart Tokayev urged the Republic of Korea to step up partnership in subsoil use while addressing the Kazakhstan-Korea Business Forum underway in Astana. "Let me provide our vision of the most promising areas of cooperation. First, enhanced cooperation in the strategic spheres of our economies, which are subsoil...

13.06.2024

Brent tops $82/b as demand picks up

Oil prices ticked higher on Wednesday on upbeat global demand views from the U.S. Energy Information Administration and OPEC.

Brent crude futures rose 11 cents, or 0.1%, to $82.04 a barrel at 0016 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 18 cents, or 0.2%, to settle at $78.10.

The...

Oil prices ticked higher on Wednesday on upbeat global demand views from the U.S. Energy Information Administration and OPEC.

Brent crude futures rose 11 cents, or 0.1%, to $82.04 a barrel at 0016 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 18 cents, or 0.2%, to settle at $78.10.

The...

Metals and Minerals

13.06.2024

Solidcore Resources plc promises to consider offers to purchase Kazzinc assets

The second largest gold producer in Kazakhstan, Solidcore Resources plc (formerly Polymetal International plc), has not received offers to purchase any assets of the largest gold producer in the country, Kazzinc, but promises to consider them upon receipt, said the company’s chief executive officer, Vitaly Nesis.

“As for the situation, which...

The second largest gold producer in Kazakhstan, Solidcore Resources plc (formerly Polymetal International plc), has not received offers to purchase any assets of the largest gold producer in the country, Kazzinc, but promises to consider them upon receipt, said the company’s chief executive officer, Vitaly Nesis.

“As for the situation, which...

13.06.2024

Former Polymetal considers returning to London listing in 2026

The Chief Executive Officer of Solidcore Resources plc (formerly Polymetal International plc), Vitaly Nesis, considers 2026 to be the realistic date for a secondary listing on the London Stock Exchange.

“As for returning to London, I confirm that this task is strategic and urgent. We soberly assessed the realistic time frame...

The Chief Executive Officer of Solidcore Resources plc (formerly Polymetal International plc), Vitaly Nesis, considers 2026 to be the realistic date for a secondary listing on the London Stock Exchange.

“As for returning to London, I confirm that this task is strategic and urgent. We soberly assessed the realistic time frame...

13.06.2024

Kazatomprom receives new contract for uranium mining

The national nuclear company Kazatomprom has signed a new contract for uranium mining with the Ministry of Energy. The agreement was reached as a result of direct negotiations. The agreement involves pilot industrial mining of metal at site No. 3 of the Inkai deposit, located in the Suzak district of...

The national nuclear company Kazatomprom has signed a new contract for uranium mining with the Ministry of Energy. The agreement was reached as a result of direct negotiations. The agreement involves pilot industrial mining of metal at site No. 3 of the Inkai deposit, located in the Suzak district of...

13.06.2024

Bullion hovers on US monetary enigma

Gold prices traded in a narrow range on Wednesday as investors awaited the U.S. consumer inflation print due later in the day and the Federal Reserve's commentary on its interest rate policy.

Spot gold was 0.2% lower at $2,312.22 per ounce, trading in a $7 range, as of 1203 GMT. U.S....

Gold prices traded in a narrow range on Wednesday as investors awaited the U.S. consumer inflation print due later in the day and the Federal Reserve's commentary on its interest rate policy.

Spot gold was 0.2% lower at $2,312.22 per ounce, trading in a $7 range, as of 1203 GMT. U.S....

13.06.2024

Soft demand keeps ferrous benchmarks subdued, coal advances

Prices of iron ore futures struggled for direction on Wednesday as support from improved economic data in top consumer China partially offset lingering pressure from tepid near-term demand, high portside stockpiles and a stronger U.S. dollar.

The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade...

Prices of iron ore futures struggled for direction on Wednesday as support from improved economic data in top consumer China partially offset lingering pressure from tepid near-term demand, high portside stockpiles and a stronger U.S. dollar.

The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade...

13.06.2024

Aluminium, nickel depreciate as other base metals rebound

Copper prices bounced on Wednesday as the dollar steadied ahead of key U.S. inflation data and a decision on interest rates from the Federal Reserve.

Traders said expectations of a dovish statement from the Fed and a lower U.S. currency - which makes dollar-priced metals cheaper for holders of other currencies...

Copper prices bounced on Wednesday as the dollar steadied ahead of key U.S. inflation data and a decision on interest rates from the Federal Reserve.

Traders said expectations of a dovish statement from the Fed and a lower U.S. currency - which makes dollar-priced metals cheaper for holders of other currencies...

Trade and Consumer Goods

13.06.2024

Cigarette sales in Kazakhstan increase by 53.4%

In Kazakhstan, public discussion of legislative amendments on establishing minimum retail prices for cigarettes has ended. Already from July 1, tobacco products will rise in price by another 6.5%. The minimum cost of a pack of 20 cigarettes will be 820 tenge (against 770 tenge now). From the beginning of...

In Kazakhstan, public discussion of legislative amendments on establishing minimum retail prices for cigarettes has ended. Already from July 1, tobacco products will rise in price by another 6.5%. The minimum cost of a pack of 20 cigarettes will be 820 tenge (against 770 tenge now). From the beginning of...

Agriculture

13.06.2024

Kazakhstan proposes to build corn processing plant on border with China

Kazakhstan has proposed building a corn processing plant on the border with China. According to MP Ruslan Kozhasbaev, it is necessary to take measures to expand the processing of this cereal in regions where it has historically been grown in large volumes.

“To do this, it is necessary to attract anchor...

Kazakhstan has proposed building a corn processing plant on the border with China. According to MP Ruslan Kozhasbaev, it is necessary to take measures to expand the processing of this cereal in regions where it has historically been grown in large volumes.

“To do this, it is necessary to attract anchor...

13.06.2024

EU wheat benchmark retreats on bouncing euro

Euronext wheat fell on Wednesday after a sharp rebound in the previous session as a jump in the euro and results in an Egyptian tender underscored export challenges while traders adjusted positions before widely watched U.S. crop forecasts.

September wheat on Paris-based Euronext was down 2.3% at 240.75 euro ($261.19) per...

Euronext wheat fell on Wednesday after a sharp rebound in the previous session as a jump in the euro and results in an Egyptian tender underscored export challenges while traders adjusted positions before widely watched U.S. crop forecasts.

September wheat on Paris-based Euronext was down 2.3% at 240.75 euro ($261.19) per...

13.06.2024

US wheat contract falls back as Russia’s harvest outlook weighs

Chicago wheat futures retreated on Wednesday from a strong jump in the previous session, although expectations of further weather-induced damage to the Russian crop provided a floor for prices.

Corn dipped, while soybeans edged higher in position-squaring ahead of monthly U.S. supply-demand reports due later in the day.

“We are looking at...

Chicago wheat futures retreated on Wednesday from a strong jump in the previous session, although expectations of further weather-induced damage to the Russian crop provided a floor for prices.

Corn dipped, while soybeans edged higher in position-squaring ahead of monthly U.S. supply-demand reports due later in the day.

“We are looking at...

Communications and Transportation

13.06.2024

Kazakhstan prefers online services to offline services

As of May 1, 2024, pension savings of citizens of Kazakhstan, formed through compulsory pension contributions (CPC), compulsory professional pension contributions (CPPC) and voluntary pension contributions (VPC), in the Unified Accumulative Pension Fund (UAPF) amounted to almost 19 trillion tenge, 3.2 trillion tenge (or 20.7%) more compared to the same...

As of May 1, 2024, pension savings of citizens of Kazakhstan, formed through compulsory pension contributions (CPC), compulsory professional pension contributions (CPPC) and voluntary pension contributions (VPC), in the Unified Accumulative Pension Fund (UAPF) amounted to almost 19 trillion tenge, 3.2 trillion tenge (or 20.7%) more compared to the same...

13.06.2024

Kazakhtelecom reports results for 1Q2024

Kazakhtelecom company reported on the results of its activities for the 1st quarter of 2024. Performance indicators noticeably deteriorated, which resulted in a drop in the company's business margins. In annual terms, there is an increase in Kazakhtelecom's revenue, but costs are growing faster than income. Kazakhtelecom shareholders decided to...

Kazakhtelecom company reported on the results of its activities for the 1st quarter of 2024. Performance indicators noticeably deteriorated, which resulted in a drop in the company's business margins. In annual terms, there is an increase in Kazakhtelecom's revenue, but costs are growing faster than income. Kazakhtelecom shareholders decided to...

13.06.2024

Increasing ticket prices solves problems of passenger transportation in Kazakhstan

Passenger rail transportation in Kazakhstan will begin to pay off only if ticket prices triple. This was stated by Transport Minister Marat Karabaev.

“Due to the fact that the cost of passenger transportation is not covered by the cost of tickets, the state has to subsidise them. Approximately 23 billion tenge....

Passenger rail transportation in Kazakhstan will begin to pay off only if ticket prices triple. This was stated by Transport Minister Marat Karabaev.

“Due to the fact that the cost of passenger transportation is not covered by the cost of tickets, the state has to subsidise them. Approximately 23 billion tenge....

13.06.2024

Ozon Kazakhstan builds first sorting centres outside largest cities

Ozon Kazakhstan announced the launch of four sorting centres in Kostanay, Aktobe, Atyrau and Shymkent. Their total area is more than 2 thousand square metres. This was reported in an Ozon release at the disposal of Kursiv.

“The expansion of logistics infrastructure in the regions will allow sellers to ship goods...

Ozon Kazakhstan announced the launch of four sorting centres in Kostanay, Aktobe, Atyrau and Shymkent. Their total area is more than 2 thousand square metres. This was reported in an Ozon release at the disposal of Kursiv.

“The expansion of logistics infrastructure in the regions will allow sellers to ship goods...

13.06.2024

Air Astana moves international flights to new terminal of Almaty airport from June 12

The new terminal of Almaty airport will open this evening. Air Astana announced that it is transferring international flights to T2 from June 12. Previously, despite the fact that the first flight was accepted at the new terminal on June 1, passengers complained that they were flying out of the...

The new terminal of Almaty airport will open this evening. Air Astana announced that it is transferring international flights to T2 from June 12. Previously, despite the fact that the first flight was accepted at the new terminal on June 1, passengers complained that they were flying out of the...

13.06.2024

Trains in Kazakhstan late more often

MP Sunkar Islam at a plenary meeting in the Parliament asked the head of the Ministry of Transport, Marat Karabaev, why trains are constantly late in Kazakhstan. According to the minister, there are two reasons for this: the high wear and tear of the railway networks and the lack of...

MP Sunkar Islam at a plenary meeting in the Parliament asked the head of the Ministry of Transport, Marat Karabaev, why trains are constantly late in Kazakhstan. According to the minister, there are two reasons for this: the high wear and tear of the railway networks and the lack of...

Regional News

13.06.2024

Moscow exchange suspends trading in dollar and euro

The Moscow Exchange (MOEX) suspended trading in dollars and euros on Wednesday, the move having been prompted by a new sanctions package unveiled by the US Treasury earlier in the day.

The suspension affects foreign and precious metals trade as well as stock and money trading on Russia’s largest public trading markets,...

The Moscow Exchange (MOEX) suspended trading in dollars and euros on Wednesday, the move having been prompted by a new sanctions package unveiled by the US Treasury earlier in the day.

The suspension affects foreign and precious metals trade as well as stock and money trading on Russia’s largest public trading markets,...

13.06.2024

US slaps new shot of sanctions against Russia as Moscow vows to retaliate

The US government announced a new wave of sanctions against Russia on Tuesday, targeting its energy, metals and mining industries, as well as some of the nation’s major lenders and the Moscow Stock Exchange. The latest round of restrictions appears to be one of the biggest ones since the start...

The US government announced a new wave of sanctions against Russia on Tuesday, targeting its energy, metals and mining industries, as well as some of the nation’s major lenders and the Moscow Stock Exchange. The latest round of restrictions appears to be one of the biggest ones since the start...

13.06.2024

Withdrawal of foreign investors fails to have significant effect for Moscow Region

Sanctions imposed on Russia did not have a significant impact on the economy of the Moscow Region, deputy prime minister of the Moscow Region Ekaterina Zinovyeva told TASS in an interview.

"We had 186 foreign brands present with us before sanctions. It is important that these were the manufacturing companies, that...

Sanctions imposed on Russia did not have a significant impact on the economy of the Moscow Region, deputy prime minister of the Moscow Region Ekaterina Zinovyeva told TASS in an interview.

"We had 186 foreign brands present with us before sanctions. It is important that these were the manufacturing companies, that...

13.06.2024

Russia’s fertinisere exports on steady rise

Exports of Russian fertilisers in 2024 will grow by approximately 10% year on year, Russian Association of Fertiliser Producers (RAFP) President Andrey Guryev told Vedomosti on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

According to his estimates, the production of fertilisers in Russia will also grow by about...

Exports of Russian fertilisers in 2024 will grow by approximately 10% year on year, Russian Association of Fertiliser Producers (RAFP) President Andrey Guryev told Vedomosti on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

According to his estimates, the production of fertilisers in Russia will also grow by about...

13.06.2024

Chinese yuan strengthens to 7.1133 against USD Wednesday

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 2 pips to 7.1133 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity...

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 2 pips to 7.1133 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity...

13.06.2024

Mainland China stock markets veer up as Hong Kong plummets

China stocks edged up at close, while Hong Kong shares fell on Wednesday after data showed consumer prices remained soft, while the dollar held firm ahead of a key U.S. inflation report and Federal Reserve policy decision that would set the near-term course for interest rates.

The consumer price index (CPI)...

China stocks edged up at close, while Hong Kong shares fell on Wednesday after data showed consumer prices remained soft, while the dollar held firm ahead of a key U.S. inflation report and Federal Reserve policy decision that would set the near-term course for interest rates.

The consumer price index (CPI)...

13.06.2024

China's rising CPI points to domestic demand recovery

China's consumer prices gained for the fourth straight month in May in the latest sign of a steady domestic demand recovery, official data showed Wednesday.

The consumer price index (CPI), a main gauge of inflation, was up 0.3 percent year on year last month, said the National Bureau of Statistics (NBS)....

China's consumer prices gained for the fourth straight month in May in the latest sign of a steady domestic demand recovery, official data showed Wednesday.

The consumer price index (CPI), a main gauge of inflation, was up 0.3 percent year on year last month, said the National Bureau of Statistics (NBS)....

Prices and Statistics

13.06.2024

Commodities

Date: June 13, 2024; Source: Bloomberg.com
...

Date: June 13, 2024; Source: Bloomberg.com

13.06.2024

Exchange Rates

Date: June 13, 2024; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 451.77
1 EURO EUR / KZT 485.97
1 RUSSIAN ROUBLE RUB / KZT 5.07
1 CHINESE YUAN CNY / KZT 62.28
1 KYRGYZIAN SOM KGS / KZT 5.19
1 GREAT BRITAIN POUND GBP / KZT 576.46
1 CANADIAN DOLLAR CAD / KZT 328.68
1 AUSTRALIAN DOLLAR AUD / KZT 298.8
...

Date: June 13, 2024; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

451.77

1 EURO

EUR / KZT

485.97

1 RUSSIAN ROUBLE

RUB / KZT

5.07

1 CHINESE YUAN

CNY / KZT

62.28

1 KYRGYZIAN SOM

KGS / KZT

5.19

1 GREAT BRITAIN POUND

GBP / KZT

576.46

1 CANADIAN DOLLAR

CAD / KZT

328.68

1 AUSTRALIAN DOLLAR

AUD / KZT

298.8