Issue 4531 - 09.09.2024
09.09.2024

The Head of State took part in the opening ceremony of the Vth World Nomad Games

The event at the Astana Arena stadium was attended by President of Uzbekistan Shavkat Mirziyoyev, President of Kyrgyzstan Sadyr Zhaparov, Chairman of the Halk Maslahaty of Turkmenistan Gurbanguly Berdimuhamedov, Rais (Head) of the Republic of Tatarstan Rustam Minnikhanov, Head of the Republic of Sakha (Yakutia) Aisen Nikolayev, former President of Mongolia Nambaryn Enkhbayar, President of the World Ethnosport Confederation Bilal Erdoğan, heads of international structures such as UNESCO, CICA, UN World Tourism Organization, Organization of Turkic States, TURKSOY, Turkic Investment Fund, Parliamentary Assembly of Turkic States, Islamic Solidarity Sports Federation, Islamic Organization for Food Security, as well as the European Union Special Representative for Central Asia and other officials.

At the commencement of the ceremony, children representing various ethnic groups in Kazakhstan presented the national flag, after which the national anthem was played.

Then the traditional parade of delegations of participating countries took place. This year's Games will feature athletes from a diverse range of regions, including Asia, Europe, North and South America, Africa, and Australia.

In his speech, Kassym-Jomart Tokayev expressed his gratitude to the leaders of brotherly states, distinguished guests and athletes who came to Kazakhstan to participate in an important event of international scale.

As the President stressed, nomadic civilization has left a deep mark in world history.

– Since ancient times, the nomads of the Great Steppe have lived in  Eurasia. The new technologies they developed provided the impetus for the global progress. Five thousand years ago nomads domesticated the horse and shaped a horseback riding culture that spread across the world. Masters of the steppe created advanced weapons and crafted marvelous jewelry.  The archeological discovery of the Golden men of the Saks period is a bright testimony to that. The Kazakh land is home to outstanding historical figures like Al-Farabi and Khoja Ahmed Yasawi, who made a significant contribution to the development of science and humanistic ideas. Our ancestors created strong states and built beautiful medieval cities in the Great Steppe, including Otyrar, Turkestan, Taraz, and Saraishyk. Serving as a bridge between East and West, nomads played a crucial role in the rapprochement of various cultures. These spacious lands at various times saw the rise of the Hun empire and the Turkic Khaganates, and later the Golden Horde and the Kazakh Khanate, – the President said.

According to the Head of State, the Nomad Games are a special project inspired by the creative goal of protecting the priceless heritage to pass it on to the future generation.

– We are grateful to our Kyrgyz brothers for hosting the first of these tournaments 10 years ago. This is the biggest sports competition of its kind in the world, so to say, the Olympics of nomads.  These games promote nomadic civilization at the global level. Sport itself is a symbol of respect and solidarity. Its key purpose is to strengthen friendship among nations. Kazakhstan is known to everyone as a land of peace and coexistence. Indeed, various ethnic and religious groups coexist peacefully here. We have established close ties with both neighborly and distant countries. We wish to see other states also live in harmony with each other. I am confident that the Nomad Games will help foster international solidarity, – noted Kassym-Jomart Tokayev.

Then the audience was shown a theatrical performance, which was dedicated to the rich culture and history, traditions and customs of nomadic civilization, as well as to the preservation of our common home – the Earth.

Chairman of the Organizing Committee of the 5th World Nomad Games Roman Sklyar and President of the World Ethnosport Confederation Bilal Erdoğan also spoke at the gala event.

By the press service of Akorda

Kazakhstan General

09.09.2024

Kazakh President receives Head of Saha

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...

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...

09.09.2024

Kazakh President received Rais of Tatarstan

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 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...

09.09.2024

Kazakh President received Chairman of Halk Maslakhaty of Turkmenistan

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...

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...

09.09.2024

Kazakhstan and Serbia aim to actively enhance bilateral cooperation

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...

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...

09.09.2024

New Ambassador of Finland to Kazakhstan presented copies of credentials

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...

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...

09.09.2024

Ministries of Foreign Affairs of Kazakhstan and Norway held political consultations

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...

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...

09.09.2024

The Ambassador of Kazakhstan presented the credentials to the acting Head of Cambodia

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...

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...

09.09.2024

“Kazakhstan through the eyes of foreign media”: Results of the International Competition Announced

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...

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...

09.09.2024

Kazakhstan faces 16 strikes

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...

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...

Finance and Investment

09.09.2024

Kazakhstan's exchange offices sell Russian currency for 24 billion tenge more than they buy

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...

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...

09.09.2024

Banks of Kazakhstan in July report increase in balance sheet indicators against background of increased credit risks

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...

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...

09.09.2024

Experts advise Kazakhstani investors to take closer look at yen and yuan

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,...

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,...

09.09.2024

Kazakhstan allows to call debtors on weekdays and weekends several times per week

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...

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...

09.09.2024

Kazakhstan's business activity index climbs to over 51 in August

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...

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...

09.09.2024

EDB invests over $900mn in Kazakhstan's multi-sector projects since early 2024

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...

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...

09.09.2024

Binance poised to become Kazakhstan’s first fully regulated crypto exchange

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,...

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,...

09.09.2024

Kazakhstan's market counts 223 operating microfinance enterprises

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...

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...

09.09.2024

Business in Kazakhstan receives new loans worth 9.7 trillion tenge over seven months

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...

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...

09.09.2024

Kazakhstanis accumulate 20.1 trillion tenge on deposits

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...

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...

09.09.2024

Weighted average US dollar exchange rate on Kazakhstan Stock Exchange reaches 480.55 tenge

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 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...

09.09.2024

Volatile greenback sends stock markets tumbling

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 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...

Insurance and Risk Management

09.09.2024

Insurance companies in Kazakhstan earn 112.5 billion tenge over seven months

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,...

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,...

Oil and Gas Sector

09.09.2024

Repairs at Kashagan field begin on October 3

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....

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....

09.09.2024

Price for Kazakhstani oil exported through Caspian Pipeline Consortium decreases by $4

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...

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...

09.09.2024

Kazakh Caspi Bitumen plant plans to increase annual capacity by 250 thousand tonnes

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 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...

09.09.2024

Oil and gas company associated with former head of QazaqGaz avoids losses, but loses oil production contract

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....

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....

09.09.2024

Brent logs minor gains on lower end

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...

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...

Metals and Minerals

09.09.2024

Kazakh PM discusses NPP construction in Kazakhstan with Stepnogorsk Mining and Chemical Combine personnel

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...

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...

09.09.2024

Kazchrome plans to increase production of ferroalloys

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....

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....

09.09.2024

Eurasian Resources Group structure declares final victory over British authorities in British court

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...

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...

09.09.2024

Kazakh gold mining company needs to invest $1 billion to achieve independence from Russia

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,...

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,...

09.09.2024

Kazakhstan reduces its gold reserves

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...

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...

09.09.2024

Bullion holds position on appeals for safe investment haven

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...

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...

09.09.2024

Non-ferrous base metal price settings move in different directions

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,...

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 Industry

09.09.2024

Two symposiums brainstorm on Kazakhstan’s, region’s energy security, innovation

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...

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...

Manufacturing industry

09.09.2024

Foreign companies help to open plants and factories in Kazakhstan's Almaty region

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...

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...

09.09.2024

Concrete and sand continue to rise in price in Kazakhstan

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%,...

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%,...

09.09.2024

Kazakhstan sees manufacturing overtake mining in GDP share

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...

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...

Agriculture

09.09.2024

Egg production in Kazakhstan decreases by 10%

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 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...

09.09.2024

Kazakhstan's Zhambyl region plans to return 80 thousand hectares of agricultural land to state ownership

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...

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...

09.09.2024

Kazakhstan's Pavlodar region builds dairy farm for 14 billion tenge

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...

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...

09.09.2024

US wheat benchmark retreats as supplies remain abundant

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...

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...

Communications and Transportation

09.09.2024

Revenues from communication services in Kazakhstan in January-July 2024 increase

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...

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...

09.09.2024

IPO of Kazakhstan Temir Zholy may take place in 2025

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...

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...

09.09.2024

Astana launches system for weighing trucks to reduce road wear

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,...

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,...

09.09.2024

Kazakhstan uses Amazon satellites

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...

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...

09.09.2024

Astana Motors to invest $12 million in developing EV charging network in Kazakhstan

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...

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...

09.09.2024

Kazakhtelecom values Tele2 at $1 billion

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...

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...

09.09.2024

Kcell issues $62.2 million in bonds to pursue strategic objectives

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...

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...

Pharmaceutical and Healthcare News

09.09.2024

Split contributions for everyone: Kazakhstan proposes to change medical insurance system

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...

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...

Regional News

09.09.2024

Russia holds elections on single voting day

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 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...

09.09.2024

Russian market in standby mode

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...

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...

09.09.2024

Sber becomes leader of children's banking in Russia

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...

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...

09.09.2024

Eastern Economic Forum discusses Russian-Chinese business

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...

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...

09.09.2024

Yuan holds ground against volatile greenback

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’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...

09.09.2024

China stocks hit bottom on stagnant industry results

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 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...

09.09.2024

China's foreign exchange reserves up 0.98 pct in August

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...

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...

09.09.2024

China to lift foreign investment access restrictions in manufacturing sector

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,...

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,...

09.09.2024

China to strengthen legislative efforts for high-quality economic development

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...

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...

Prices and Statistics

09.09.2024

Commodities

Date: September 09, 2024; Source: Bloomberg.com
...

Date: September 09, 2024; Source: Bloomberg.com

09.09.2024

Exchange Rates

Date: September 6, 2024; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 480.55
1 EURO EUR / KZT 533.75
1 RUSSIAN ROUBLE RUB / KZT 5.36
1 CHINESE YUAN CNY / KZT 67.85
1 KYRGYZIAN SOM KGS / KZT 5.71
1 GREAT BRITAIN POUND GBP / KZT 632.79
1 CANADIAN DOLLAR CAD / KZT 356.15
1 AUSTRALIAN DOLLAR AUD / KZT 323.7
...

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

1 US DOLLAR

USD / KZT

480.55

1 EURO

EUR / KZT

533.75

1 RUSSIAN ROUBLE

RUB / KZT

5.36

1 CHINESE YUAN

CNY / KZT

67.85

1 KYRGYZIAN SOM

KGS / KZT

5.71

1 GREAT BRITAIN POUND

GBP / KZT

632.79

1 CANADIAN DOLLAR

CAD / KZT

356.15

1 AUSTRALIAN DOLLAR

AUD / KZT

323.7