Head of State Kassym-Jomart Tokayev received Children’s Ombudsman Aruzhan Sain to debate pressing children’s healthcare and social protection issues, child abuse countermeasures.

The Head of State drew attention to the importance of taking effective measures to ensure security and prevent violations of law against the minors, to observe guarantees of the...

Head of State Kassym-Jomart Tokayev took to his official Twitter account to congratulate Kazakhstanis on the International Day for Protection of Children.

In his tweet, President Tokayev noted that children are the future of our country and should be taken care of.

Creation of favorable conditions for the development of the coming...

The Republic ranked 39 places above Russia and 47 places above Uzbekistan.In 2015, UN Member States adopted the Sustainable Development Goals and approved a plan to achieve them by 2030. The goals are intended to promote business development and social needs without harming the environment, echoing the ESG principles of...

First Deputy Minister of Foreign Affairs of Kazakhstan Kairat Umarov spoke on the country’s efforts in non-proliferation and disarmament of weapons of mass destruction (WMD) during a May 30 Proliferation Security Initiative (PSI) 20th anniversary high-level political meeting in Jeju Island, South Korea, as reported by the ministry’s press service. 

The...

The Prime Minister of Kazakhstan Alikhan Smailov held another meeting with representatives of medium-sized businesses, organized with the assistance of NCE Atameken. The event on June 1 was attended by entrepreneurs of Atyrau, Aktobe, West Kazakhstan, Mangystau and Kyzylorda regions.

The Head of Government said that over the last three years,...

Against the backdrop of a recovery in economic activity, revenues to the state budget in 1Q 2023 increased by 5.1% qoq to T5.6trln. Despite the fact that the size of transfers from the NF to the state budget increased by 5.6% qoq, their share in total revenues did not change,...

Kazakhstan’s UAPF reported that the current outstanding debt, which the fund is trying to collect, is 90 billion tenge. The amount looks insignificant compared to the total amount of pension assets, which reached 15.7 trillion tenge as of May 1, 2023. But it is quite comparable with the annual expenses...

The Eurasian Development Bank (EDB) improved the forecast for Kazakhstan's GDP growth and worsened for inflation. The June review of the organisation says that in 2023 the republic's economy will grow by 4.3%, and not by 4.2%, as expected in November.

The EDB summed up the results of the economic development...

As of April 1, retail deposits at Kazakhstan's banks reached 17.2 trillion tenge. In the first quarter of this year the figure grew by an impressive 232bn tenge.Remarkably, in this quarter the dynamics of the index was uneven: so, in January the volume of retail deposits fell by 136.2 billion...

Pro-inflationary risks remain in Kazakhstan. Analysts of the Eurasian Development Bank came to this conclusion. "The fragmentation of the world economy has reinforced and extended in time the risks of accelerating the growth of producer costs and, as a result, an increase in consumer prices," the financial institute believes.

The bank...

The first results of the referral program on AIX, according to which Kazakhstanis are involved as IPO agents, have become known. In a conversation, AIX CFO Zharas Musabekov noted that there are already applications from the market.

"We have already received a lot of good feedback, and there are about 10...

A visa-free regime between Kazakhstan and China may lead to an increase in the volume of trade in yuan and reduce the shares of other foreign currencies.

Finam analyst Andrey Maslov said that the simplification of entry and exit between countries can serve as an additional incentive to increase the share...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on June 1, 2023 at 17:00 amounted to 448.67 tenge. Compared to the data at 17:00 on May 31 (447.71 tenge per 1 dollar), the national currency weakened by 0.96 tenge against the dollar.

According to KASE, the minimum...

The dollar was on track for its worst daily loss in nearly a month on Thursday as U.S. manufacturing data and comments by Federal Reserve officials reinforced expectations the Federal Reserve will likely skip an interest rate hike at its upcoming meeting.

The euro recovered from a two-month low on Thursday...

The Head of Samruk-Kazyna, Nurlan Zhakupov, stated this today during theon-site inspection of the Ulba Metallurgical Plant in Ust-Kamenogorsk. It is the largest enterprise for the production of fuel pellets for nuclear power, tantalum, niobium, beryllium and their alloys. The company’s products are used in nuclear, aviation, rocket and space...

Prices for Kazakhstan's CPC blend oil grade have risen this year compared to 2022 as a reduced risk of sanctions and more stable supplies have won back buyers, three traders said and Reuters calculations showed.

The average discount for CPC blend oil cargoes BFO-CPC has narrowed to $3.7 per barrel so far this...

A subsidiary of KazMunayGas, KMG PetroChem, and Tengizchevroil (TCO) signed on June 1, 2023 the main terms of the agreements for the implementation of the Gas Separation Complex (GSC) project, with reference to the KMG press service.

“Thanks to the document signed today, we have become one step closer to the...

Kazakhstan exported more of its oil to the European Union in the first quarter of 2023 than a year ago as it squeezed some supplies out of Russia.

The country sent 71% of its oil exports to the EU, compared to 65% a year earlier.

Kazakhstan exports two main grades of oil:...

Kazmunaigas is considering the possibility of acquiring Lukoil's assets in Romania and Moldova. Applications for the purchase of assets of the Russian company in these countries, in addition to KMG, were also sent by Shell.

We are talking about the Romanian refinery Petrotel in Ploiesti with a capacity of 2.5 million...

Reports about the end of the activities of the special working group in Zhanaozen do not correspond to reality. This was reported in the press service of KazMunayGas. “Today, a special working group continues its activities, inspects oilfield service enterprises, holds meetings with labour collectives and trade union organisations of...

OPEC and its allies, known as GLOPEC and including Kazakhstan, Russia and Azerbaijan, are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance told Reuters.

OPEC+, which groups the Organization of the Petroleum Exporting...

Oil prices dipped in early trade on Thursday for the third straight session after data showed an unexpected, large build in U.S. crude stocks last week, triggering fears of an oversupply amid signs of weaker Chinese demand, too.

Brent crude futures for August delivery fell 40 cents, or 0.6% to $72.20...

British and Dutch wholesale gas prices declined on Thursday morning after a leak at a Norwegian liquefied natural gas (LNG) plant was stopped.

The benchmark Dutch front-month contract down 1.70 euro at 24.90 euro per megawatt hour (MWh), while the Q4 price declined by 0.55 euro to 39.20 euro per MWh,...

In the Karaganda region, they are waiting for the opening of new industries, with reference to the Ministry of Industry and Infrastructure Development. Already in November 2023, a new plant at Shubarkol Komir can be launched to produce 400 thousand tonnes of special coke per year. The construction of the...

Timur Zharkenov, Deputy Chairman of the Atameken NCE, noted the need to develop a program for the development of the coal industry in Kazakhstan.

“In international experience, including our closest neighbour in the face of Russia, there is a Program for the Development of the Coal Industry, which clearly defines further...

Gold prices rose after mixed U.S. jobs data on Thursday, as the dollar tumbled on expectations of the Federal Reserve skipping an interest rate hike at its next policy meeting.

Spot gold rose 0.5% to $1,972.39 per ounce by 9:37 a.m. EDT (1337 GMT). It fell 1.4% in May. U.S. gold...

Dalian and Singapore iron ore futures hit their highest in two weeks on Thursday as sentiment improved on the prospects of Chinese stimulus policies to revive the economy, better-than-expected factory activity data and supply disruption worries.

Weak manufacturing data has raised expectations of policy support for industry, analysts at investment bank...

Base metals prices rose in London on Thursday, supported by unexpected growth in factory activity in top metals consumer China and a vote of approval from the House of Representatives to suspend the U.S. debt ceiling.

Benchmark copper on the London Metal Exchange (LME) rose 1.7% to $8,226 a tonne in...

Annual inflation in Kazakhstan at the end of May 2023 amounted to 15.9%, in May to 0.6%, citing data from the National Statistics Bureau.

The bureau clarified that over the year, prices for food products increased by 16.5%, non-food products by 17.2%, paid services by 13.5%.

“Compared to May 2022, the price...

Kazakhstan supplied the most large and small cattle to Uzbekistan. In January-March of this year, more than 5 thousand cattle were exported from Kazakhstan abroad. Sheep and goats were also exported 1.5 thousand, pigs 176. Supplies of horses increased nine times 312 heads.

Uzbekistan became the main buyer of Kazakh cattle.

As...

An analysis of the annual reports of the four largest public telecommunications companies in Kazakhstan shows that 2022 was generally successful for them: key indicators grew due to traditional services. Revenue dynamics of new product lines is also positive, but its weight is still too small to turn double-digit growth...

Vice Minister of Culture and Sports of Kazakhstan Yerzhan Yerkinbayev met with Ambassador of Sri Lanka Janita Liyange and Ambassador of the Philippines Igor Bailen. The meeting was held at the office of Kazakh Tourism National Company. Yerzhan Yerkinbayev discussed with the ambassadors cooperation in the field of tourism, sports...

In recent years, cases of telephone fraud committed on behalf of bank employees have become more frequent. In their scams, scammers most often use number replacement services. Last year, police officers identified 3,600 such crimes.

In this regard, the Ministry of Internal Affairs initiated the issue of their blocking. The agency,...

Satellite internet has become increasingly popular in Kazakhstan, and for good reason. The vast country has many remote areas where traditional internet infrastructure is difficult to install, making satellite internet a practical solution. Here are some of the advantages of using satellite internet in Kazakhstan.

Firstly, satellite internet provides coverage in...

Airbus deliveries for May appear on course to reach at least 60 aircraft, subject to the final tally of a busy close to the month and a routine audit, industry sources said.

That represents an increase of some 30% from the same month last year and would bring deliveries so far...

Air traffic took off in April, industry data showed on Thursday, as easing inflation helped boost demand.

According to the Geneva-based International Air Transport Association, total traffic - measured in revenue passenger kilometres (RPK) - rose 45.8% year-on-year in April, with an industry load factor of 81.3%.

Traffic is now at 90.5%...

Chicago wheat futures gained more ground on Thursday, as the market continued to recover from last session's lowest in more than two years on bargain buying and concerns over rains damaging China's wheat crop.

Soybeans and corn prices rose with dryness forecast for the newly planted crops in the U.S. Midwest.

The...

In April, industrial production growth, which has been ongoing (seasonally adjusted) since February 2023, accelerated to 1.7% after 1.3% a month earlier and 0.6% in February, according to data from Rosstat. Seasonally adjusted, according to the Ministry of Economy, the growth in processing in April amounted to 2.8% (plus 3.6% in...

The latest data on the money supply recorded the continued degradation of foreign currency deposits in the banking system:

• Corporate deposits fell by $1.7bln mom and $25.2bn yoy to $112.2bln.

• Household deposits declined by $2.2bln mom and $23.7bn yoy to $46.6bln.

Since the end of 2021, foreign currency deposits have decreased...

The Russian stock market on Thursday failed to show a single dynamics: the Moscow Exchange index sags by 0.06% to 2,715.9 points, the RTS index grows by 0.05% to 1,057.17 points. The MOEX index remains near the annual maximum, expecting support in the form of positive news, the main support...

The more I look at the growing stock quotes of the Moscow Exchange, the more I want to sell them (at least partially). I haven't made a final decision yet, but my hands are already itching, to be honest.

The main reason for this desire was a very strange decision of...

China's yuan firmed against the dollar on Thursday, recouping some ground after three straight days of losses that dragged it to six-month lows.

The Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose to 50.9 in May from 49.5 in April, above the 50-point index mark that separates growth from contraction, beating expectations.

This...

China stocks gave up earlier gains on Thursday to close with a mixed bag, even after a private sector survey showed the country's factory activity unexpectedly swung to growth in May from decline in the previous month.

The blue-chip CSI300 Index ended up 0.2%, while the Shanghai Composite Index finished flat.

Hong...

Foreign capital has continued to flow into China's stock market this year, with a net influx of 170 billion yuan (24 billion U.S. dollars) through stock connect programs recorded in the first five months, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said on Thursday.

Fang made the remarks...

China's futures market reported double-digit year-on-year growth in both trading volume and turnover last month, industrial data showed.

Total trading volume topped 825 million lots in May, increasing 75.16 percent year on year, according to data from the China Futures Association.

The market's trading turnover stood at 50.37 trillion yuan (about 7.1...

China's factory activity in May expanded for the first time in three months, driven by an upturn in production and other factors, a private survey showed on Thursday.

Meanwhile, as manufacturers in China still face pressure and difficulties such as weak demand, a more challenging external environment and slumping profits, there...

Date: June 02, 2023; Source: the National Bank of Kazakhstan