Issue 4431 - 12.04.2024

Kazakhstan General

12.04.2024

Kazakhstan and Sri Lanka Intend to Strengthen Bilateral Cooperation

The second round of Kazakh-Sri Lankan political consultations was held at the Ministry of Foreign Affairs of the Republic of Kazakhstan, chaired by Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Bakayev and Foreign Secretary of Sri Lanka Aruni Wijewardane.

During the meeting, the parties discussed a wide...

The second round of Kazakh-Sri Lankan political consultations was held at the Ministry of Foreign Affairs of the Republic of Kazakhstan, chaired by Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Alibek Bakayev and Foreign Secretary of Sri Lanka Aruni Wijewardane.

During the meeting, the parties discussed a wide...

12.04.2024

Astana International Forum Discussed at OECD

Permanent Delegate of Kazakhstan to International Organizations in Paris Askar Abdrakhmanov met with Deputy Secretary General of the Organisation for Economic Co-operation and Development (OECD) Fabrizia Lapecorella.

The parties exchanged views on the current cooperation and plans, as well as a number of issues of the implementation of the Organisation’s recommendations...

Permanent Delegate of Kazakhstan to International Organizations in Paris Askar Abdrakhmanov met with Deputy Secretary General of the Organisation for Economic Co-operation and Development (OECD) Fabrizia Lapecorella.

The parties exchanged views on the current cooperation and plans, as well as a number of issues of the implementation of the Organisation’s recommendations...

12.04.2024

Third attempt to change state planning system of Kazakhstan raises even more questions

On March 29 of this year, the third draft of a government document on changes in the state planning system was published. The first draft was published a year ago (March 9, 2023) and was not approved. The second draft of the document was published on October 26 last year...

On March 29 of this year, the third draft of a government document on changes in the state planning system was published. The first draft was published a year ago (March 9, 2023) and was not approved. The second draft of the document was published on October 26 last year...

12.04.2024

Kazakhstan plans to introduce new restrictions on entry into country

Senator Sovetbek Medebaev presented a bill on migration issues to his colleagues.

The document proposes to limit the entry into the country and the acquisition of citizenship by foreigners convicted of crimes against the sexual integrity of minors. There is also a ban on entry for non-residents involved in extremist or...

Senator Sovetbek Medebaev presented a bill on migration issues to his colleagues.

The document proposes to limit the entry into the country and the acquisition of citizenship by foreigners convicted of crimes against the sexual integrity of minors. There is also a ban on entry for non-residents involved in extremist or...

12.04.2024

Kazakhstan evacuates nearly 98,000 since floods set in

Since the beginning of the floods, 97,852 people, including 32,856 children, have been rescued and evacuated, the Kazakh Ministry of Emergency Situations reported on April 11.

The involved aircraft rescued 2,823 people, including 865 children. Currently, 7,173 people are housed in temporary accommodation centers, 3,494 of whom are children. Additionally, 88,561...

Since the beginning of the floods, 97,852 people, including 32,856 children, have been rescued and evacuated, the Kazakh Ministry of Emergency Situations reported on April 11.

The involved aircraft rescued 2,823 people, including 865 children. Currently, 7,173 people are housed in temporary accommodation centers, 3,494 of whom are children. Additionally, 88,561...

12.04.2024

Kazakhstan looks back on long history of seasonal floods

“Perhaps this is the largest disaster in terms of its scale and consequences in over 80 years,” said Kazakh President Kassym-Jomart Tokayev in his address to the nation on April 6. Prior to that, Tokayev reprimanded the government structures for negligence and a lack of professionalism.  

In recent years, the situation has annually recurred on...

“Perhaps this is the largest disaster in terms of its scale and consequences in over 80 years,” said Kazakh President Kassym-Jomart Tokayev in his address to the nation on April 6. Prior to that, Tokayev reprimanded the government structures for negligence and a lack of professionalism.  

In recent years, the situation has annually recurred on...

12.04.2024

Kazakhstan mobilises over 10,000 military personnel to protect western regions from high water

Kazakh Prime Minister Olzhas Bektenov chaired a working meeting of the republican flood control headquarters, focusing on the situation in the western regions set to face the second wave of flooding, according to the press service of the Kazah government.

During the meeting, vice premier, deputy chief of the headquarters Kanat...

Kazakh Prime Minister Olzhas Bektenov chaired a working meeting of the republican flood control headquarters, focusing on the situation in the western regions set to face the second wave of flooding, according to the press service of the Kazah government.

During the meeting, vice premier, deputy chief of the headquarters Kanat...

12.04.2024

Kazakhstan to build 20 new water reservoirs

Kazakhstan seeks to build 20 new reservoirs and reconstruct 15 existing ones. 20 new reservoirs are set to be built in 11 regions of Kazakhstan. Construction of the five ones will begin in 2024. The water resources and irrigation ministry believe that the new reservoirs will increase the area of...

Kazakhstan seeks to build 20 new reservoirs and reconstruct 15 existing ones. 20 new reservoirs are set to be built in 11 regions of Kazakhstan. Construction of the five ones will begin in 2024. The water resources and irrigation ministry believe that the new reservoirs will increase the area of...

12.04.2024

Number of unemployed in EAEU decreases by 13%

The number of unemployed people registered with the employment services of the states of the Eurasian Economic Union as of the end of February 2024 amounted to 827.5 thousand people, having decreased by 13% compared to the same date in 2023.

Thus, the number of unemployed people is 0.9% of the...

The number of unemployed people registered with the employment services of the states of the Eurasian Economic Union as of the end of February 2024 amounted to 827.5 thousand people, having decreased by 13% compared to the same date in 2023.

Thus, the number of unemployed people is 0.9% of the...

Finance and Investment

12.04.2024

Kazakhstan and Finland discussed issues of investment cooperation

A Kazakh-Finnish roundtable was held in Astana with the participation of the Vice Minister of Ecology and Natural Resources of the Republic of Kazakhstan, Mansur Oshurbayev, and the Minister of International Cooperation and Foreign Trade of Finland, Ville Tavio. The event, organized by the Ministry of Ecology and Natural Resources of the...

A Kazakh-Finnish roundtable was held in Astana with the participation of the Vice Minister of Ecology and Natural Resources of the Republic of Kazakhstan, Mansur Oshurbayev, and the Minister of International Cooperation and Foreign Trade of Finland, Ville Tavio. The event, organized by the Ministry of Ecology and Natural Resources of the...

12.04.2024

Consumer confidence in Kazakhstan enters pessimistic zone in March

The Consumer Confidence Index (CCI) fell to enter the pessimistic zone. Kazakhstanis are less inclined to note an increase in prices for goods and services (although key food products and housing and communal services tariffs continue to be in the top), however, an increase in pessimistic assessments of price dynamics...

The Consumer Confidence Index (CCI) fell to enter the pessimistic zone. Kazakhstanis are less inclined to note an increase in prices for goods and services (although key food products and housing and communal services tariffs continue to be in the top), however, an increase in pessimistic assessments of price dynamics...

12.04.2024

Ratings of STBs of Kazakhstan from Big Three rating agencies listed

On March 19, the Big Three agency Standard & Poor’s revised forecasts for five second-tier banks of Kazakhstan, raising them to Positive, and once again highly assessed the banking sector of Kazakhstan as a whole.

The following received an increase in forecast:

• Halyk Bank. The national scale rating was increased from...

On March 19, the Big Three agency Standard & Poor’s revised forecasts for five second-tier banks of Kazakhstan, raising them to Positive, and once again highly assessed the banking sector of Kazakhstan as a whole.

The following received an increase in forecast:

• Halyk Bank. The national scale rating was increased from...

12.04.2024

KASE Index grows by 21.3% since beginning of year

Since the beginning of the year, the KASE Index value has increased by 21.3% to 5,077.84 points. As of April 1, 2024, the representative list for calculating the KASE Index consists of 10 shares; from March 1, common shares of Air Astana were included in the calculation of the KASE...

Since the beginning of the year, the KASE Index value has increased by 21.3% to 5,077.84 points. As of April 1, 2024, the representative list for calculating the KASE Index consists of 10 shares; from March 1, common shares of Air Astana were included in the calculation of the KASE...

12.04.2024

Asian Development Bank forecasts Kazakhstan's economy to grow by 3.8% in 2024

Kazakhstan's economic growth rate will decline in 2024 amid slowing industrial growth due to stagnation in oil production, and then recover in 2025 due to increased production and investment. This is stated in the Asian Development Outlook (ADO) for April 2024 from the Asian Development Bank, with reference to forecast...

Kazakhstan's economic growth rate will decline in 2024 amid slowing industrial growth due to stagnation in oil production, and then recover in 2025 due to increased production and investment. This is stated in the Asian Development Outlook (ADO) for April 2024 from the Asian Development Bank, with reference to forecast...

12.04.2024

Kazakhstan opposes tracking mobile transfers from 1.5 million tenge

The Ministry of National Economy did not support the idea of tracking only mobile transfers starting from 1.5 million tenge. This is stated in the response of the head of the MNE Nurlan Baybazarov to a deputy request. “The proposal to monitor mobile payments if an individual’s income exceeds 1.5...

The Ministry of National Economy did not support the idea of tracking only mobile transfers starting from 1.5 million tenge. This is stated in the response of the head of the MNE Nurlan Baybazarov to a deputy request. “The proposal to monitor mobile payments if an individual’s income exceeds 1.5...

12.04.2024

Deposit Insurance Agency of Russia must return money of Kazakhstanis after liquidation of Qiwi Bank

Qiwi Kazakhstan responded by telling how the liquidation of the Russian Qiwi Bank would affect the Kazakh structure and its clients. The company will contact the Deposit Insurance Agency (DIA) of Russia to return the funds to Kazakhstanis.

The Moscow Arbitration Court liquidated Qiwi Bank, before which it was deprived of...

Qiwi Kazakhstan responded by telling how the liquidation of the Russian Qiwi Bank would affect the Kazakh structure and its clients. The company will contact the Deposit Insurance Agency (DIA) of Russia to return the funds to Kazakhstanis.

The Moscow Arbitration Court liquidated Qiwi Bank, before which it was deprived of...

12.04.2024

90% of economically active Kazakhstanis have loans

More than 90% of the country's economically active population have loans. This data was provided by Lazzat Usenbekova, director for consumer protection of the Association of Financiers of Kazakhstan.

Usenbekova expressed concern about the high level of loan penetration. According to her calculations, 91% of economically active Kazakhstanis have obligations to...

More than 90% of the country's economically active population have loans. This data was provided by Lazzat Usenbekova, director for consumer protection of the Association of Financiers of Kazakhstan.

Usenbekova expressed concern about the high level of loan penetration. According to her calculations, 91% of economically active Kazakhstanis have obligations to...

12.04.2024

Weighted average US dollar rate on Kazakhstan Stock Exchange amounts to 448.32 tenge

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on April 11, 2024 at 17:00 amounted to 448.32 tenge. Compared to the data as of 17:00 on April 10 (447.36 tenge per 1 dollar), the national currency weakened by 0.96 tenge against the dollar.

According to KASE information,...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on April 11, 2024 at 17:00 amounted to 448.32 tenge. Compared to the data as of 17:00 on April 10 (447.36 tenge per 1 dollar), the national currency weakened by 0.96 tenge against the dollar.

According to KASE information,...

12.04.2024

Greenback frenzy keeps global stock markets subdued

The dollar was firm on Thursday after hotter-than-expected U.S. inflation data squashed lingering expectations of the Fed starting its rate-cutting cycle in June, while the yen languished at the levels last seen in the middle of 1990.

The yen's slide to a 34-year low of 153.24 per U.S. dollar on Wednesday...

The dollar was firm on Thursday after hotter-than-expected U.S. inflation data squashed lingering expectations of the Fed starting its rate-cutting cycle in June, while the yen languished at the levels last seen in the middle of 1990.

The yen's slide to a 34-year low of 153.24 per U.S. dollar on Wednesday...

Insurance and Risk Management

12.04.2024

Two life insurance companies in Kazakhstan account for two-third of premiums collected

The volume of receipts of insurance premiums for voluntary personal life insurance in January-February of this year reached 36.2 billion tenge, 45.9% more than in the same period last year. A year earlier, the volume of premiums showed a decline of 2%.

The share of life insurance premiums from all premiums...

The volume of receipts of insurance premiums for voluntary personal life insurance in January-February of this year reached 36.2 billion tenge, 45.9% more than in the same period last year. A year earlier, the volume of premiums showed a decline of 2%.

The share of life insurance premiums from all premiums...

Oil and Gas Sector

12.04.2024

Caspian Pipeline Consortium resumes oil shipments in Novorossiysk

Oil shipments have resumed at the Caspian Pipeline Consortium (CPC) marine terminal in Novorossiysk, Russia, CPC reported.

“After the completion of the main work at the CPC marine terminal facilities, during the planned shutdown of the oil pipeline on April 11, 24, oil shipments were resumed,” the statement said.

CPC suspended oil...

Oil shipments have resumed at the Caspian Pipeline Consortium (CPC) marine terminal in Novorossiysk, Russia, CPC reported.

“After the completion of the main work at the CPC marine terminal facilities, during the planned shutdown of the oil pipeline on April 11, 24, oil shipments were resumed,” the statement said.

CPC suspended oil...

12.04.2024

February oil exports from Russia and Central Asia increase by 3% compared to January

In February, total oil exports from Russia and Central Asia averaged 6.5 million barrels per day, an increase of 122 thousand bpd over the month, or about 2%, OPEC said in its monthly report.

The growth was driven by increased supplies from the port of Kozmino on the Pacific Ocean, followed...

In February, total oil exports from Russia and Central Asia averaged 6.5 million barrels per day, an increase of 122 thousand bpd over the month, or about 2%, OPEC said in its monthly report.

The growth was driven by increased supplies from the port of Kozmino on the Pacific Ocean, followed...

12.04.2024

Kazakhstan produces more oil and condensate

The US Department of Energy's Energy Information Administration (EIA) has improved its forecast for the volume of production of liquid hydrocarbons (oil and condensate) in Kazakhstan for 2024-2025.

According to the April forecast of the American department, in 2024 Kazakhstan will produce 1.97 million barrels of oil and condensate per day...

The US Department of Energy's Energy Information Administration (EIA) has improved its forecast for the volume of production of liquid hydrocarbons (oil and condensate) in Kazakhstan for 2024-2025.

According to the April forecast of the American department, in 2024 Kazakhstan will produce 1.97 million barrels of oil and condensate per day...

12.04.2024

Kazakhstan changes price of fuel and lubricants for foreign cars

Kazakhstan plans to change prices for regulated types of fuels and lubricants for foreign cars, with reference to the Ministry of Energy.

If now AI-92/AI-93 costs 205 tenge per litre, then for foreign cars it is proposed to set the price at 245 tenge per litre.

The document assumes that the price...

Kazakhstan plans to change prices for regulated types of fuels and lubricants for foreign cars, with reference to the Ministry of Energy.

If now AI-92/AI-93 costs 205 tenge per litre, then for foreign cars it is proposed to set the price at 245 tenge per litre.

The document assumes that the price...

12.04.2024

Flood water seen retreating in Kazakh oil province

30,738 people, including 8,382 children, have been evacuated due to floods in the Zhylyoisk district, Atyrau region. The district observes the floodwater levels to reduce by 5-20 centimeters. The difficult flood situation persists in Zhylyoisk district… According to the national met office Kazhydromet, the level of water in the Ural...

30,738 people, including 8,382 children, have been evacuated due to floods in the Zhylyoisk district, Atyrau region. The district observes the floodwater levels to reduce by 5-20 centimeters. The difficult flood situation persists in Zhylyoisk district… According to the national met office Kazhydromet, the level of water in the Ural...

12.04.2024

Kazakhstan’s crude oil output expected to veer up

Liquids output in Kazakhstan dropped by 13 tb/d, m-o-m, to an average of 2.0 mb/d in February. For 2024, the liquids supply is forecast to increase by about 18 tb/d to average 1.9 mb/d, revised up by 9 tb/d compared with the previous assessment, owing to the higher-than-expected output in...

Liquids output in Kazakhstan dropped by 13 tb/d, m-o-m, to an average of 2.0 mb/d in February. For 2024, the liquids supply is forecast to increase by about 18 tb/d to average 1.9 mb/d, revised up by 9 tb/d compared with the previous assessment, owing to the higher-than-expected output in...

12.04.2024

OPEC sees 2.2% growth in world oil demand through summer 2024

In 2024, global oil demand is expected to grow by a healthy 2.2 mb/d, y-o-y, led by robust demand from non-OECD regions, mainly China, Middle East and Other Asia. On a quarterly basis, global oil demand is expected to grow by around 2.0 mb/d, y-o-y, in 1Q24, 2.2 mb/d y-o-y...

In 2024, global oil demand is expected to grow by a healthy 2.2 mb/d, y-o-y, led by robust demand from non-OECD regions, mainly China, Middle East and Other Asia. On a quarterly basis, global oil demand is expected to grow by around 2.0 mb/d, y-o-y, in 1Q24, 2.2 mb/d y-o-y...

12.04.2024

Fuel and lubricants in Kazakhstan much cheaper than in other EAEU countries

The EAEU postponed the introduction of common markets for gas, oil and petroleum products for two years due to the unpreparedness of states. The Ministry of Energy explained how different prices for fuels and lubricants are in Kazakhstan and other countries of the Union.

As the ministry noted, common markets will...

The EAEU postponed the introduction of common markets for gas, oil and petroleum products for two years due to the unpreparedness of states. The Ministry of Energy explained how different prices for fuels and lubricants are in Kazakhstan and other countries of the Union.

As the ministry noted, common markets will...

12.04.2024

Brent holds narrowly on top of $90/b mark

Oil prices slipped on Thursday as persistent inflation dampened rate cut optimism but stayed near six-month highs as investors braced for a potential attack on Israeli interests by Iran.

Brent crude futures were down 20 cents or 0.2% to $90.28 a barrel at 1220 GMT, while U.S. West Texas Intermediate crude...

Oil prices slipped on Thursday as persistent inflation dampened rate cut optimism but stayed near six-month highs as investors braced for a potential attack on Israeli interests by Iran.

Brent crude futures were down 20 cents or 0.2% to $90.28 a barrel at 1220 GMT, while U.S. West Texas Intermediate crude...

Metals and Minerals

12.04.2024

Kazakhstan expands its exports of cathode copper to China, Turkey and Latvia

In January 2024, Kazakhstan managed to boost its exports of cathode copper abroad from 29,200 tons to 41,700 tons (+42.9%) year-on-year, the Ministry of Industry and Construction reported, citing QazIndustry.

China is the absolute leader in terms of the volume of cathode copper it purchases from Kazakhstan. In January, this country...

In January 2024, Kazakhstan managed to boost its exports of cathode copper abroad from 29,200 tons to 41,700 tons (+42.9%) year-on-year, the Ministry of Industry and Construction reported, citing QazIndustry.

China is the absolute leader in terms of the volume of cathode copper it purchases from Kazakhstan. In January, this country...

12.04.2024

Gold in Kazakhstan reaches record price

The price of gold in Kazakhstan continues to rise to record levels. On April 10, one gram of gold was sold at a price of 33.9 thousand tenge. This is 405 tenge more than the day before, reports the First Credit Bureau, citing data from the National Bank.

The current price...

The price of gold in Kazakhstan continues to rise to record levels. On April 10, one gram of gold was sold at a price of 33.9 thousand tenge. This is 405 tenge more than the day before, reports the First Credit Bureau, citing data from the National Bank.

The current price...

12.04.2024

Kazakh gold miners report about impact of rising metal prices on industry

Gold mining companies, in response to a request from Kursiv, explained how operating profits are affected by the rise in quotations of this precious metal and what will happen to the industry.

World gold prices are set on commodity exchanges such as the London Mercantile Exchange, the Chicago Mercantile Exchange (CME),...

Gold mining companies, in response to a request from Kursiv, explained how operating profits are affected by the rise in quotations of this precious metal and what will happen to the industry.

World gold prices are set on commodity exchanges such as the London Mercantile Exchange, the Chicago Mercantile Exchange (CME),...

12.04.2024

Bullion veers from minor momentary slip

Gold prices climbed on Thursday, recouping losses from the previous session, as geopolitical tensions bolstered demand for the safe-haven metal.

Spot gold was up 0.6% at $2,345.56 per ounce, as of 0317 GMT. Bullion hit a record high for an eighth consecutive session until Tuesday. U.S. gold futures also gained 0.6%...

Gold prices climbed on Thursday, recouping losses from the previous session, as geopolitical tensions bolstered demand for the safe-haven metal.

Spot gold was up 0.6% at $2,345.56 per ounce, as of 0317 GMT. Bullion hit a record high for an eighth consecutive session until Tuesday. U.S. gold futures also gained 0.6%...

12.04.2024

Ferrous, coal benchmarks appreciate on China stimulus

Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed hopes of more stimulus in the second quarter to underpin its economy.

The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.29% higher at 826 yuan...

Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed hopes of more stimulus in the second quarter to underpin its economy.

The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.29% higher at 826 yuan...

12.04.2024

Non-ferrous base metals drop from peak as storage piles up

Copper prices edged lower on Thursday on weak consumer inflation data in top metals consumer China and a firm dollar.

Three-month copper on the London Metal Exchange dipped 0.04% to $9,370 per metric ton by in official open-outcry trading, moving further away from a 14-month peak of $9,523 touched on Tuesday.

Data...

Copper prices edged lower on Thursday on weak consumer inflation data in top metals consumer China and a firm dollar.

Three-month copper on the London Metal Exchange dipped 0.04% to $9,370 per metric ton by in official open-outcry trading, moving further away from a 14-month peak of $9,523 touched on Tuesday.

Data...

Manufacturing industry

12.04.2024

Kazakhstan a key focus for Austrian industry

Ambassador of Kazakhstan to Austria, Mukhtar Tileuberdi, met with the President of the Federation of Austrian Industries, Georg Knill.

Parties discussed various trade, economic, and investment cooperation. Special attention was paid to promising areas of interaction - green economy, infrastructure, energy, machinery. The Ambassador drew attention to the opportunities for Austrian...

Ambassador of Kazakhstan to Austria, Mukhtar Tileuberdi, met with the President of the Federation of Austrian Industries, Georg Knill.

Parties discussed various trade, economic, and investment cooperation. Special attention was paid to promising areas of interaction - green economy, infrastructure, energy, machinery. The Ambassador drew attention to the opportunities for Austrian...

12.04.2024

One of China's leading companies plans to implement pipe and fitting production projects in Kazakhstan

The Deputy Minister of Industry and Construction of the Republic of Kazakhstan, Olzhas Saparbekov, held a meeting with Mr. Gao Zinuo, the Deputy General Director for International Projects of "Xinxing Ductile Iron Pipes," China's largest state-owned company specializing in the production of pipes and fittings.

"Xinxing Ductile Iron Pipes" is one...

The Deputy Minister of Industry and Construction of the Republic of Kazakhstan, Olzhas Saparbekov, held a meeting with Mr. Gao Zinuo, the Deputy General Director for International Projects of "Xinxing Ductile Iron Pipes," China's largest state-owned company specializing in the production of pipes and fittings.

"Xinxing Ductile Iron Pipes" is one...

12.04.2024

New production of automotive components in Kazakhstan

At the site of JSC "NC "KAZAKH INVEST," Yerzhan Yelekeyev, the Chairman of the Board of the national company, met with the management of JSC "MS Automotive," a manufacturer of automotive components, and "Sibur Holding," a polymer manufacturer. During the meeting, the parties discussed the possibilities of localizing the production of automotive components in Kazakhstan...

At the site of JSC "NC "KAZAKH INVEST," Yerzhan Yelekeyev, the Chairman of the Board of the national company, met with the management of JSC "MS Automotive," a manufacturer of automotive components, and "Sibur Holding," a polymer manufacturer. During the meeting, the parties discussed the possibilities of localizing the production of automotive components in Kazakhstan...

12.04.2024

Spanish manufacturer of sanitary ware will expand its activities in Kazakhstan

Asel Suankulova, Deputy Director of the Department for Attracting Investments and Marketing of JSC "NC "KAZAKH INVEST," held a strategic meeting with representatives of the Spanish Roca. During the meeting, the parties discussed the strategic possibility of opening a logistics center and a brand gallery, Roca Gallery, in Kazakhstan and further...

Asel Suankulova, Deputy Director of the Department for Attracting Investments and Marketing of JSC "NC "KAZAKH INVEST," held a strategic meeting with representatives of the Spanish Roca. During the meeting, the parties discussed the strategic possibility of opening a logistics center and a brand gallery, Roca Gallery, in Kazakhstan and further...

12.04.2024

Kazakhstan’s wood manufacturing on the rise

Kazakhstan began to purchase more plywood and other timber from Russia. In 2023, 1.5 million tonnes of wood and wood products were imported into the country, which is 19.5% more than in 2022. The import of these products cost Kazakhstan $589 million.

Particle boards were supplied to the local market in...

Kazakhstan began to purchase more plywood and other timber from Russia. In 2023, 1.5 million tonnes of wood and wood products were imported into the country, which is 19.5% more than in 2022. The import of these products cost Kazakhstan $589 million.

Particle boards were supplied to the local market in...

12.04.2024

Investor abandons project in northern Kazakhstan

An investor from Russia changed his mind about implementing a project in the North Kazakhstan region. The regional administration spoke about this.

It was expected that an idle enterprise would be restored in the region, where production of glass products for construction purposes would be launched.

However, according to the government agency,...

An investor from Russia changed his mind about implementing a project in the North Kazakhstan region. The regional administration spoke about this.

It was expected that an idle enterprise would be restored in the region, where production of glass products for construction purposes would be launched.

However, according to the government agency,...

Trade and Consumer Goods

12.04.2024

Eurasian Economic Commission strives to ensure public procurement on competitive basis in common market of EAEU

Issues of mutual participation of the countries of the Eurasian Economic Union in public procurement were considered by the Minister for Competition and Antimonopoly Regulation of the Eurasian Economic Commission Maxim Ermolovich and the Minister of Finance of Russia Anton Siluanov at a meeting on April 10.

“It is important to...

Issues of mutual participation of the countries of the Eurasian Economic Union in public procurement were considered by the Minister for Competition and Antimonopoly Regulation of the Eurasian Economic Commission Maxim Ermolovich and the Minister of Finance of Russia Anton Siluanov at a meeting on April 10.

“It is important to...

12.04.2024

Eurasian Economic Commission discusses with business and experts prospects for development of digital trade in Union

A seminar “Digital trade global experience and development prospects in the EAEU” was held at the site of the Eurasian Economic Commission, moderated by EEC Minister of Trade Andrey Slepnev.

“Our seminar today is dedicated to the development of digital trade this area is broader than e-commerce, which we have been...

A seminar “Digital trade global experience and development prospects in the EAEU” was held at the site of the Eurasian Economic Commission, moderated by EEC Minister of Trade Andrey Slepnev.

“Our seminar today is dedicated to the development of digital trade this area is broader than e-commerce, which we have been...

Agriculture

12.04.2024

Kazakhstan's farmers may not have enough money

In Kazakhstan, they complained about the lack of funding for the needs of farmers. “The government needs to find funds to pay off debts in 2023 to the farmers of the Zhambyl region and for planned activities in 2024. For example, for the production of sugar beets on an area...

In Kazakhstan, they complained about the lack of funding for the needs of farmers. “The government needs to find funds to pay off debts in 2023 to the farmers of the Zhambyl region and for planned activities in 2024. For example, for the production of sugar beets on an area...

12.04.2024

Head of agricultural department changes in Kazakhstan's Abay region

Ertai Kuanbaev was appointed head of the agriculture department of the Abay region. The department reported this.

Ertai Kuanbaev born in 1989. Graduated from East Kazakhstan State Technical University named after Serikbaev with a degree in Finance and the Shakarim University of Semey with a degree in Technology for the production...

Ertai Kuanbaev was appointed head of the agriculture department of the Abay region. The department reported this.

Ertai Kuanbaev born in 1989. Graduated from East Kazakhstan State Technical University named after Serikbaev with a degree in Finance and the Shakarim University of Semey with a degree in Technology for the production...

12.04.2024

This year's wheat harvest in Kazakhstan may increase by 12%

The year 2023 was unfavorable for Kazakhstan's grain producers, as the harvest of wheat was small and of low quality. This factor will influence the formation of the harvest in 2024. However, the gross wheat harvest may be 12% higher than in 2023, said the director of APK-Inform Asia Elena...

The year 2023 was unfavorable for Kazakhstan's grain producers, as the harvest of wheat was small and of low quality. This factor will influence the formation of the harvest in 2024. However, the gross wheat harvest may be 12% higher than in 2023, said the director of APK-Inform Asia Elena...

12.04.2024

China accounts for 36% of exports of oil and fat products from Kazakhstan

China accounts for 36% of Kazakhstan's total exports of oil and fat products (vegetable oils and meals). China ranks first in the list of importers of these products, said the Chairman of the National Association of Oilseed Processors of Kazakhstan (NOPA) Yadykar Ibragimov during the international conference Chinese Grains&Oils Congress, which...

China accounts for 36% of Kazakhstan's total exports of oil and fat products (vegetable oils and meals). China ranks first in the list of importers of these products, said the Chairman of the National Association of Oilseed Processors of Kazakhstan (NOPA) Yadykar Ibragimov during the international conference Chinese Grains&Oils Congress, which...

12.04.2024

EU wheat benchmark turns bearish on weak euro

European wheat futures fell from a two-week peak on Thursday as participants adjusted positions before widely followed U.S. government crop forecasts.

May milling wheat on Paris-based Euronext was down 1.3% at 201.75 euro ($215.87) a metric ton by 1457 GMT.

It earlier rose to 206.00 euro, a highest since March 25.

A slide...

European wheat futures fell from a two-week peak on Thursday as participants adjusted positions before widely followed U.S. government crop forecasts.

May milling wheat on Paris-based Euronext was down 1.3% at 201.75 euro ($215.87) a metric ton by 1457 GMT.

It earlier rose to 206.00 euro, a highest since March 25.

A slide...

12.04.2024

US wheat futures contract as Black Sea region braves warfare

Chicago corn futures inched up on Thursday as investors evened out positions ahead of a U.S. government report expected to show a decline in inventories.

Wheat edged lower, although tensions in the Black Sea region kept a floor under the market, while soybeans also eased.

The most active corn contract on the...

Chicago corn futures inched up on Thursday as investors evened out positions ahead of a U.S. government report expected to show a decline in inventories.

Wheat edged lower, although tensions in the Black Sea region kept a floor under the market, while soybeans also eased.

The most active corn contract on the...

Communications and Transportation

12.04.2024

Kazakh railway grid promotes Transcaspian transport link among foreign diplomats

Kazakhstan national railway company Temir Zholy held an annual meeting with the foreign diplomats  missions to discuss the issues of development of the Transcaspian International Transport Route.

Those attending the event were ambassadors of more than 30 foreign countries, the representatives of the European Bank for Reconstruction and Development, and Transcaspian...

Kazakhstan national railway company Temir Zholy held an annual meeting with the foreign diplomats  missions to discuss the issues of development of the Transcaspian International Transport Route.

Those attending the event were ambassadors of more than 30 foreign countries, the representatives of the European Bank for Reconstruction and Development, and Transcaspian...

12.04.2024

Vehicle fleet of Kazakhstan increases by 18% over year, but almost half of cars still old

As of February 1 of this year, there were 5.3 million vehicles in Kazakhstan, 18.4% more than a year earlier. Of these, 4.7 million were cars (plus 18.6%), 526.7 thousand were trucks (plus 16.8%), 110.6 thousand were buses (plus 17.5%).

Regionally, the largest number of vehicles was traditionally registered in Almaty:...

As of February 1 of this year, there were 5.3 million vehicles in Kazakhstan, 18.4% more than a year earlier. Of these, 4.7 million were cars (plus 18.6%), 526.7 thousand were trucks (plus 16.8%), 110.6 thousand were buses (plus 17.5%).

Regionally, the largest number of vehicles was traditionally registered in Almaty:...

12.04.2024

Refund air tickets for flights to regions of Kazakhstan

Kazakh airlines explained the conditions under which tickets for flights to cities affected by floods can be returned. All airlines provide refunds for tickets and rebookings, but only for certain dates.

Scat Airlines can return tickets from/to Aktobe and Atyrau if they were purchased before the start of the emergency in...

Kazakh airlines explained the conditions under which tickets for flights to cities affected by floods can be returned. All airlines provide refunds for tickets and rebookings, but only for certain dates.

Scat Airlines can return tickets from/to Aktobe and Atyrau if they were purchased before the start of the emergency in...

12.04.2024

Yandex Cloud begins to provide cloud services based on data centre in Kazakhstan

The Yandex Cloud platform has placed server infrastructure on the territory of Kazakhstan in a data centre in Karaganda. Now users in Kazakhstan and Central Asia have access to a wide portfolio of Yandex Cloud services and technologies: solutions for data storage and processing, artificial intelligence technologies, machine learning and...

The Yandex Cloud platform has placed server infrastructure on the territory of Kazakhstan in a data centre in Karaganda. Now users in Kazakhstan and Central Asia have access to a wide portfolio of Yandex Cloud services and technologies: solutions for data storage and processing, artificial intelligence technologies, machine learning and...

Regional News

12.04.2024

Russian market growth stagnates once more

The Russian market opened Thursday with multidirectional movement of indices. But by mid-day both indices went negative. However, the decrease was still insignificant. By 14.40 Moscow time, the Moscow Exchange index was losing 0.1% to 3,435.52 points, the RTS index was in the red by 0.25% and was trading at...

The Russian market opened Thursday with multidirectional movement of indices. But by mid-day both indices went negative. However, the decrease was still insignificant. By 14.40 Moscow time, the Moscow Exchange index was losing 0.1% to 3,435.52 points, the RTS index was in the red by 0.25% and was trading at...

12.04.2024

Remote work continues to be popular in Russia

More than half (58.6%) of Russian companies allow their employees to work remotely, according to data from the “Monitoring Digital Transformation of Business 2023” by the Higher School of Economics based on surveys of more than 4 thousand organisations in ten sectors of the economy. Let us remind you that...

More than half (58.6%) of Russian companies allow their employees to work remotely, according to data from the “Monitoring Digital Transformation of Business 2023” by the Higher School of Economics based on surveys of more than 4 thousand organisations in ten sectors of the economy. Let us remind you that...

12.04.2024

Road freight carriers in Russia have to register

Kommersant found out what consequences the regulatory changes planned from March 1, 2025 may have for the Russian road freight transportation market. According to the new rules, commercial carriers will have to register in a special registry, as well as register their trucks. The corresponding bill submitted to the State...

Kommersant found out what consequences the regulatory changes planned from March 1, 2025 may have for the Russian road freight transportation market. According to the new rules, commercial carriers will have to register in a special registry, as well as register their trucks. The corresponding bill submitted to the State...

12.04.2024

Seizure of Russian assets deprives West of profits

New proposals for the seizure of Russia's frozen sovereign assets will be presented at the G7 summit in June. British Foreign Minister David Cameron announced some progress in creating schemes for appropriating Russian funds, which have not yet had examples in the history of international relations. Meanwhile, in the West...

New proposals for the seizure of Russia's frozen sovereign assets will be presented at the G7 summit in June. British Foreign Minister David Cameron announced some progress in creating schemes for appropriating Russian funds, which have not yet had examples in the history of international relations. Meanwhile, in the West...

12.04.2024

Yuan hits bottom on low yields, investment outflow

China’s yuan slipped to a five-month low against the dollar on Thursday despite the central bank’s efforts to steer it higher, as hotter-than-expected US inflation numbers pushed out the expected timing of a first Federal Reserve rate cut.

The yuan was trading at 7.2361 per dollar at 0400 GMT, little changed...

China’s yuan slipped to a five-month low against the dollar on Thursday despite the central bank’s efforts to steer it higher, as hotter-than-expected US inflation numbers pushed out the expected timing of a first Federal Reserve rate cut.

The yuan was trading at 7.2361 per dollar at 0400 GMT, little changed...

12.04.2024

China stock markes hover

China shares ended largely flat on Thursday as strong gains in copper miners countered a drag from weak consumer data, while Hong Kong stocks tracked Wall Street lower. ** At the close, the Shanghai Composite index was up 0.23% at 3,034.25.

China released worse-than-expected March consumer data, maintaining pressure on policymakers...

China shares ended largely flat on Thursday as strong gains in copper miners countered a drag from weak consumer data, while Hong Kong stocks tracked Wall Street lower. ** At the close, the Shanghai Composite index was up 0.23% at 3,034.25.

China released worse-than-expected March consumer data, maintaining pressure on policymakers...

12.04.2024

China's PPI down 2.8 pct in March

China's producer price index (PPI), which measures costs for goods at the factory gate, decreased by 2.8 percent year on year in March, the National Bureau of Statistics (NBS) said Thursday.

The decrease widened from a 2.7-percent decline in February. On a monthly basis, the PPI edged down 0.1 percent, narrowing...

China's producer price index (PPI), which measures costs for goods at the factory gate, decreased by 2.8 percent year on year in March, the National Bureau of Statistics (NBS) said Thursday.

The decrease widened from a 2.7-percent decline in February. On a monthly basis, the PPI edged down 0.1 percent, narrowing...

12.04.2024

China's CPI up 0.1 pct in March

China's consumer price index (CPI), a main gauge of inflation, edged up 0.1 percent year on year in March, official data showed Thursday.

On a monthly basis, the CPI went down 1 percent in March, said the National Bureau of Statistics (NBS).

NBS statistician Dong Lijuan attributed the changes in CPI data...

China's consumer price index (CPI), a main gauge of inflation, edged up 0.1 percent year on year in March, official data showed Thursday.

On a monthly basis, the CPI went down 1 percent in March, said the National Bureau of Statistics (NBS).

NBS statistician Dong Lijuan attributed the changes in CPI data...

12.04.2024

China to step up financial support for green development

Chinese authorities have issued guidelines to strengthen the financial support for green and low-carbon development.

According to the document jointly released by several government departments including the People's Bank of China (PBOC), the country will basically build a world-leading financial support system for green development in the next five years and...

Chinese authorities have issued guidelines to strengthen the financial support for green and low-carbon development.

According to the document jointly released by several government departments including the People's Bank of China (PBOC), the country will basically build a world-leading financial support system for green development in the next five years and...

Prices and Statistics

12.04.2024

Commodities

Date: April 12, 2024; Source: Bloomberg.com

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Date: April 12, 2024; Source: Bloomberg.com

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