Issue 3361 - 20.11.2019
20.11.2019

Kazakh, Azeri PMs cut ribbon for construction of fiber optic links along the bottom of the Caspian Sea

Prime Minister of Kazakhstan Askar Mamin and Prime Minister of Azerbaijan Ali Asadov attended the ceremony of launching the construction of the TransCaspian Fiber Optic in Aktau. The fiber-optic communication line between the two countries will be laid along the bottom of the Caspian Sea.

The project is transcontinental and will create a digital telecommunications corridor between Europe and Asia. The cable with a length of about 380-400 km along the bottom of the Caspian Sea will be laid by Transtelecom JSC, KazTransCom and the Azerbaijani telecom operator AzerTelecom. The cable will be put into operation by the end of 2021, it will allow the transmission of data with a capacity of at least 4-6 terabits/s.

“Azerbaijan is a strategic partner of Kazakhstan. The principles of friendship and mutually beneficial cooperation were laid down by the First President – Elbasy Nursultan Nazarbayev, the National Leader of the Azerbaijani people Heydar Aliyev and subsequently the President of the Republic of Azerbaijan Ilham Aliyev. President of Kazakhstan Kassym-Jomart Tokayev, continuing the foreign policy of Elbasy, attaches particular importance to the development and deepening of bilateral relations with Azerbaijan,” Mamin said.

The head of government of Kazakhstan emphasized that the joint TransCaspian Fiber Optic project will allow to reach a higher level of development of a high-speed and secure data transmission infrastructure, enter the number of leading Europe-Asia trunk routes and take its rightful place in world data transit.

Mamin and Asadov discussed the state and prospects of cooperation between the two countries in trade, economic, investment, transport and logistics, agriculture, space and cultural and humanitarian spheres.

As part of a working trip to Mangystau region, Prime Minister Askar Mamin attended a capsule laying ceremony at the construction site of a methanol and olefin plant. The project is being implemented by Singapore-based WestGasOil, with an investment of $1.8 billion. The plant’s capacity is 300 thousand tons of methanol and 600 thousand tons of olefins per year. For the construction period, 4,000 jobs will be created, after commissioning in 2023, the company’s staff will be 650 people.

The head of government also inspected the construction of the multi-functional and tourist complex Aktau Resort Hotel, as well as the work of KazAzot, Mangystau Oil Refining enterprises and the Maga-Bread bakery. Mamin visited the Kekilbayev Cultural Center, where he examined the museum and memorial of the national writer of Kazakhstan.

Reported by the Kazakh PM’s press office.

Kazakhstan General

20.11.2019

New housing programme, results of pilot project on health insurance and food prices discussed at Kazakh cabinet session

On Nov. 18, 2019, at the government session, the progress of the Nurly Zher State Program for Housing Construction and its project for 2020-2025, the implementation of the pilot project on the introduction of compulsory social health insurance in the Karaganda region, as well as the increase in food prices...

On Nov. 18, 2019, at the government session, the progress of the Nurly Zher State Program for Housing Construction and its project for 2020-2025, the implementation of the pilot project on the introduction of compulsory social health insurance in the Karaganda region, as well as the increase in food prices...

20.11.2019

Kazakhstan continues to lay off workers

Over 9 months of 2019, more than 17.9 thousand workers were reduced in Kazakhstan. While in January-September 2019, 17.9 thousand workers fell under the reduction, more than 12 thousand were reduced for the same period in 2018. Thus, the indicator grew almost 1.5 times.

At large enterprises, due to the reduction...

Over 9 months of 2019, more than 17.9 thousand workers were reduced in Kazakhstan. While in January-September 2019, 17.9 thousand workers fell under the reduction, more than 12 thousand were reduced for the same period in 2018. Thus, the indicator grew almost 1.5 times.

At large enterprises, due to the reduction...

20.11.2019

Mountain troops of the Uzbek-Kazakh armies conduct joint drills

Joint exercises of the mountain troops of the Armed Forces of Kazakhstan and Uzbekistan was led by the Department of Special Operations Forces in Uzbekistan, the Defense Ministry of Kazakhstan said.

From Kazakhstan, the military personnel of the Mountain Training Center of the Central Army Sports Club under the Kazakh Defense...

Joint exercises of the mountain troops of the Armed Forces of Kazakhstan and Uzbekistan was led by the Department of Special Operations Forces in Uzbekistan, the Defense Ministry of Kazakhstan said.

From Kazakhstan, the military personnel of the Mountain Training Center of the Central Army Sports Club under the Kazakh Defense...

20.11.2019

Kazakh ministers focus on social issues at press conference

During a press conference following the latest cabinet session, Kazakhstan’s First Vice Minister of Industry and Infrastructure Development Kairbek Uskenbayev spoke about the draft of the new Nurly Zher program for 2020-2025.

According to him, the ladder of housing affordability will be introduced, the determining factor will be the income of...

During a press conference following the latest cabinet session, Kazakhstan’s First Vice Minister of Industry and Infrastructure Development Kairbek Uskenbayev spoke about the draft of the new Nurly Zher program for 2020-2025.

According to him, the ladder of housing affordability will be introduced, the determining factor will be the income of...

20.11.2019

Ambassador of Kazakhstan discussed development of Kazakh-Indian relations in West Bengal

On November 18-19, 2019, Ambassador of Kazakhstan to India Yerlan Alimbayev paid a working visit to one of the largest economic and financial centers of India – Kolkata (former Calcutta). It is the capital of the state of West Bengal and serves as the headquarters for many industrial companies of...

On November 18-19, 2019, Ambassador of Kazakhstan to India Yerlan Alimbayev paid a working visit to one of the largest economic and financial centers of India – Kolkata (former Calcutta). It is the capital of the state of West Bengal and serves as the headquarters for many industrial companies of...

20.11.2019

Embassy of Kazakhstan to Germany hosts the Head of the Delegation of German Economy for Central Asia in Almaty

The Ambassador of Kazakhstan to Germany, Dauren Karipov, met today with Mr. Hovsep Voskanyan, the new Head of the Delegation of German Economy for Central Asia, which is based in Almaty, as well as with Ms. Inna Schirly, the Deputy Head of the Delegation and Director General of DEinternational Kazakhstan.  

During...

The Ambassador of Kazakhstan to Germany, Dauren Karipov, met today with Mr. Hovsep Voskanyan, the new Head of the Delegation of German Economy for Central Asia, which is based in Almaty, as well as with Ms. Inna Schirly, the Deputy Head of the Delegation and Director General of DEinternational Kazakhstan.  

During...

20.11.2019

President of the Swiss Confederation to pay official visit to Kazakhstan

Swiss President Ueli Maurer will arrive in Kazakhstan on an official visit, Strategy2050.kz reports with reference to the President’s Press Secretary Berik Uali.

“On November 21-22, at the invitation of President Kassym-Jomart Tokayev, President of the Swiss Confederation - Minister of Finance Ueli Maurer will pay an official visit to Kazakhstan....

Swiss President Ueli Maurer will arrive in Kazakhstan on an official visit, Strategy2050.kz reports with reference to the President’s Press Secretary Berik Uali.

“On November 21-22, at the invitation of President Kassym-Jomart Tokayev, President of the Swiss Confederation - Minister of Finance Ueli Maurer will pay an official visit to Kazakhstan....

Finance and Investment

20.11.2019

Kazakhstanis owe more than 334 billion tenge in taxes

The tax debt of Kazakhstanis decreased by 16.5%. Such data was provided by the State Revenue Committee. As of October 1, the budget did not receive 334.5 billion tenge of taxes and payments. In this case, the idea of obligations for all previous fiscal periods.

In comparison with the same indicator...

The tax debt of Kazakhstanis decreased by 16.5%. Such data was provided by the State Revenue Committee. As of October 1, the budget did not receive 334.5 billion tenge of taxes and payments. In this case, the idea of obligations for all previous fiscal periods.

In comparison with the same indicator...

20.11.2019

Revenues of Kazakhstan's local budgets jump by 19% on-year

Over 9 months of this year, local budget revenues increased by 19.4% over the same period a year earlier and amounted to 4.2 trillion tenge. This is a record value in the corresponding period in history. For the same period last year, revenues amounted to 3.5 trillion tenge.

Own revenues of...

Over 9 months of this year, local budget revenues increased by 19.4% over the same period a year earlier and amounted to 4.2 trillion tenge. This is a record value in the corresponding period in history. For the same period last year, revenues amounted to 3.5 trillion tenge.

Own revenues of...

20.11.2019

Kazakhstan Stock Exchange puts into operation new trading and clearing system

The Kazakhstan Stock Exchange is introducing a new ASTS + Trading and Clearing System and is starting to act as a central counterparty in the stock market.

“The ASTS + system was developed on the basis of the MOEX TCS as part of the implementation of the Strategic Partnership Agreement with...

The Kazakhstan Stock Exchange is introducing a new ASTS + Trading and Clearing System and is starting to act as a central counterparty in the stock market.

“The ASTS + system was developed on the basis of the MOEX TCS as part of the implementation of the Strategic Partnership Agreement with...

20.11.2019

Mortgage for women appears in Kazakhstan

The Asian Development Bank will provide a loan to Housing Construction Savings Bank for 38 billion tenge. According to the HCSB, funds will be allocated as part of a project to promote gender equality in housing finance.

The corresponding agreement was signed by ADB Director General for Central and West Asia,...

The Asian Development Bank will provide a loan to Housing Construction Savings Bank for 38 billion tenge. According to the HCSB, funds will be allocated as part of a project to promote gender equality in housing finance.

The corresponding agreement was signed by ADB Director General for Central and West Asia,...

20.11.2019

AIFC Court, IAC sign memoranda of understanding with Russian arbitration institutions

The AIFC Court and the International Arbitration Centre («IAC») signed two Memoranda of Understanding with leading arbitration institutions in Russia, according to the AIFC’s press service.

In Moscow, the AIFC Court and IAC Registrar and Chief Executive signed MOUs with the Russian Arbitration Association (RAA), which unites legal practitioners, law firms...

The AIFC Court and the International Arbitration Centre («IAC») signed two Memoranda of Understanding with leading arbitration institutions in Russia, according to the AIFC’s press service.

In Moscow, the AIFC Court and IAC Registrar and Chief Executive signed MOUs with the Russian Arbitration Association (RAA), which unites legal practitioners, law firms...

20.11.2019

Citi wins custody mandate from Astana International Exchange (AIX) central securities depository (CSD) in Kazakhstan

Citibank Kazakhstan has been selected as a custodian of the Astana International Exchange (AIX) central securities depository (CSD), offering settlement and safekeeping services for foreign securities trading.

AIX was formed in 2017 to develop an active capital market in Kazakhstan and the region by providing clear and favourable conditions for attracting...

Citibank Kazakhstan has been selected as a custodian of the Astana International Exchange (AIX) central securities depository (CSD), offering settlement and safekeeping services for foreign securities trading.

AIX was formed in 2017 to develop an active capital market in Kazakhstan and the region by providing clear and favourable conditions for attracting...

20.11.2019

Greenback hangs on between politics and economics

The U.S. dollar was little-changed against a basket of currencies on Tuesday as continued lack of clarity on the fate of the U.S.-China trade talks kept investors cautious. The dollar index, which compares the dollar against six major currencies, was up 0.01%. The index has shed 0.6% over the last...

The U.S. dollar was little-changed against a basket of currencies on Tuesday as continued lack of clarity on the fate of the U.S.-China trade talks kept investors cautious. The dollar index, which compares the dollar against six major currencies, was up 0.01%. The index has shed 0.6% over the last...

Oil and Gas Sector

20.11.2019

Where Kazakhstan’s oil goes

All the years of independence, the authorities of Kazakhstan have been betting on the export of minerals, in which oil reigns supreme. The Soviet potential, which provided diversification of the economy, has been exhausted. The republic has practically lost its own production in many sectors of the manufacturing industry. Attempts...

All the years of independence, the authorities of Kazakhstan have been betting on the export of minerals, in which oil reigns supreme. The Soviet potential, which provided diversification of the economy, has been exhausted. The republic has practically lost its own production in many sectors of the manufacturing industry. Attempts...

20.11.2019

Share of Kazakhstan in the total volume of oil production in the country is 30%

Currently, Kazakhstan is one of the largest oil producing countries. The total reserves are estimated at 11-12 billion tonnes. Almost 70% of these resources are concentrated in the western regions of Kazakhstan. The country has more than 170 oil fields. The largest of them are Tengiz, Kashagan, Karachaganak, Uzen, Zhetybai,...

Currently, Kazakhstan is one of the largest oil producing countries. The total reserves are estimated at 11-12 billion tonnes. Almost 70% of these resources are concentrated in the western regions of Kazakhstan. The country has more than 170 oil fields. The largest of them are Tengiz, Kashagan, Karachaganak, Uzen, Zhetybai,...

20.11.2019

Investments of KazMunayGas in waste processing triples

KazMunayGas National company increases environmental costs. Over the past few years, the growth of investments in waste processing amounted to more than 3 times. Such data are provided in the KMG Sustainability Report for 2018.

The company plans to process historical waste and restore contaminated land. In the next 5 years,...

KazMunayGas National company increases environmental costs. Over the past few years, the growth of investments in waste processing amounted to more than 3 times. Such data are provided in the KMG Sustainability Report for 2018.

The company plans to process historical waste and restore contaminated land. In the next 5 years,...

20.11.2019

Kazakhstan student discovers a new way to increase oil production

A student at the Nazarbayev School of Mining and Geosciences at the University of Damir Karimov investigated the effect of combining salted water and polymer flooding in Kazakhstan’s oil and gas fields. Through experiments, he calculated the optimal concentration of active elements in the waters of the Caspian Sea, which...

A student at the Nazarbayev School of Mining and Geosciences at the University of Damir Karimov investigated the effect of combining salted water and polymer flooding in Kazakhstan’s oil and gas fields. Through experiments, he calculated the optimal concentration of active elements in the waters of the Caspian Sea, which...

20.11.2019

PetroKazakhstan launches social, ecological charm offensive

PetroKazakhstan Oil Products (PKOP) reaffirmed its commitment to the safety and health of its employees as well as to protecting the environment, putting these outcomes among its top goals in a conversation with The Astana Times. The company shared its efforts and achievements in these fields.

Environmental issues are concerning the...

PetroKazakhstan Oil Products (PKOP) reaffirmed its commitment to the safety and health of its employees as well as to protecting the environment, putting these outcomes among its top goals in a conversation with The Astana Times. The company shared its efforts and achievements in these fields.

Environmental issues are concerning the...

20.11.2019

Cheaper oil costs Gazprom Neft 20% of profit in Q3

Gazprom Neft reported mixed financials for the first nine months of this year, posting a marginal 2% increase in revenues to 1.87 trillion rubles ($29.2 billion) but also a third-quarter net profit decrease of 2.1% to 104.9 billion rubles ($1.64 billion) due to a decline in global oil...

Gazprom Neft reported mixed financials for the first nine months of this year, posting a marginal 2% increase in revenues to 1.87 trillion rubles ($29.2 billion) but also a third-quarter net profit decrease of 2.1% to 104.9 billion rubles ($1.64 billion) due to a decline in global oil prices, RNS reported.

The oil arm...

20.11.2019

PetroChina eyes major role in oil pricing

Chinese oil and gas giant PetroChina's partnering with some of the world's biggest energy companies to launch a new crude oil futures exchange in the Middle East, is an important move for the company to better leverage the international crude oil trading mechanism to gain profits and hedge losses, analysts...

Chinese oil and gas giant PetroChina's partnering with some of the world's biggest energy companies to launch a new crude oil futures exchange in the Middle East, is an important move for the company to better leverage the international crude oil trading mechanism to gain profits and hedge losses, analysts...

20.11.2019

Construction of TurkStream’s rival completed in Turkey

The second and final part of the first stage of the Trans-Anatolian Natural Gas Pipeline (TANAP) will be commissioned on November 30. TANAP is the Turkish section of the Southern Gas Corridor, which is supposed to ensure gas supplies from Azerbajan’s Shah Deniz field to markets in Turkey and Southeastern...

The second and final part of the first stage of the Trans-Anatolian Natural Gas Pipeline (TANAP) will be commissioned on November 30. TANAP is the Turkish section of the Southern Gas Corridor, which is supposed to ensure gas supplies from Azerbajan’s Shah Deniz field to markets in Turkey and Southeastern...

20.11.2019

Urals maintains premium over Brent as refining margins increase

Kazakhstan’s benchmark Urals crude’s differentials to dated Brent in northwest Europe and the Mediterranean remained stable on Tuesday as the market awaited more dates from next month’s loading programme.

Complex oil plants cracking Urals in the Mediterranean stood to make a loss of $3.48 a barrel on Tuesday, down from minus...

Kazakhstan’s benchmark Urals crude’s differentials to dated Brent in northwest Europe and the Mediterranean remained stable on Tuesday as the market awaited more dates from next month’s loading programme.

Complex oil plants cracking Urals in the Mediterranean stood to make a loss of $3.48 a barrel on Tuesday, down from minus...

20.11.2019

Brent edges further down on ample supplies, doubts over demand

Oil fell for a second day on Tuesday, dropping below $62 a barrel on limited progress toward resolving the U.S.-China trade dispute, higher than expected Norwegian oil output and forecasts of rising U.S. crude inventories.

A Chinese government source was quoted by CNBC on Monday as saying there was gloom in...

Oil fell for a second day on Tuesday, dropping below $62 a barrel on limited progress toward resolving the U.S.-China trade dispute, higher than expected Norwegian oil output and forecasts of rising U.S. crude inventories.

A Chinese government source was quoted by CNBC on Monday as saying there was gloom in...

20.11.2019

Demand slump sends North Sea region’s natural gas prices down

British prompt wholesale gas prices were mostly lower on Tuesday morning amid expectations of weakening demand in the coming days.

Within-day gas price fell 0.15 p at 39.00 p/therm by 0954 GMT, while weekend gas was down 0.50 p at 37.00 p/therm.

Temperatures are expected to get start rising from Wednesday, which...

British prompt wholesale gas prices were mostly lower on Tuesday morning amid expectations of weakening demand in the coming days.

Within-day gas price fell 0.15 p at 39.00 p/therm by 0954 GMT, while weekend gas was down 0.50 p at 37.00 p/therm.

Temperatures are expected to get start rising from Wednesday, which...

Metals and Minerals

20.11.2019

Kazakhstan’s copper output up; steel, zinc down

Kazakhstan's non-ferrous, steel and precious metals output

Oct       Sept       Jan-Oct

 REFINED COPPER (tonnes)      39,551     41,571     394,387

 mth/mth pct change             -4.9       -3.7         ---

 yr/yr pct change               -2.3        6.0         9.5

 REFINED ZINC (T)             27,362     19,894     263,276

 mth/mth pct change             37.5      -16.3         ---

 yr/yr pct change                2.2      -22.0        -0.6

 ZINC CONCENTRATE (T)         26,100     21,000     200,400

 mth/mth pct change             24.3        5.5         ---

 yr/yr pct...

Kazakhstan's non-ferrous, steel and precious metals output

Oct       Sept       Jan-Oct

 REFINED COPPER (tonnes)      39,551     41,571     394,387

 mth/mth pct change             -4.9       -3.7         ---

 yr/yr pct change               -2.3        6.0         9.5

 REFINED ZINC (T)             27,362     19,894     263,276

 mth/mth pct change             37.5      -16.3         ---

 yr/yr pct change                2.2      -22.0        -0.6

 ZINC CONCENTRATE (T)         26,100     21,000     200,400

 mth/mth pct change             24.3        5.5         ---

 yr/yr pct...

20.11.2019

Russia to dominate world’s platinum & palladium production with new Arctic project

The Arctic Palladium project which involves development of several platinum-group metal deposits on Russia’s Taimyr Peninsula is nearing completion. It is expected to turn Russia into the world’s top producer of platinum metals.

The platinum-group metals (PGMs) is a group of six metals: ruthenium, rhodium, palladium, osmium, iridium, and platinum. They...

The Arctic Palladium project which involves development of several platinum-group metal deposits on Russia’s Taimyr Peninsula is nearing completion. It is expected to turn Russia into the world’s top producer of platinum metals.

The platinum-group metals (PGMs) is a group of six metals: ruthenium, rhodium, palladium, osmium, iridium, and platinum. They...

20.11.2019

Nornickel to lower dividends after 2022

Russia’s Norilsk Nickel (Nornickel) has laid out a plan to raise investment in projects boosting output which would result in reducing dividend payments after 2022, the mining giant’s Vice President has said.

Sergey Dubovitsky was speaking to reporters at a briefing ahead of the Russian company’s capital markets...

Russia’s Norilsk Nickel (Nornickel) has laid out a plan to raise investment in projects boosting output which would result in reducing dividend payments after 2022, the mining giant’s Vice President has said.

Sergey Dubovitsky was speaking to reporters at a briefing ahead of the Russian company’s capital markets day in London...

20.11.2019

Precious investments: which metals to rise in price by the end of the year

Analysts forecast a rise in the value of precious metals by the end of 2019. According to Oksana Lukicheva, an Opening Broker expert, seasonal factors contribute to the increase in demand. She recalled that since the beginning of this year, palladium has risen in price by almost 35%, gold by...

Analysts forecast a rise in the value of precious metals by the end of 2019. According to Oksana Lukicheva, an Opening Broker expert, seasonal factors contribute to the increase in demand. She recalled that since the beginning of this year, palladium has risen in price by almost 35%, gold by...

20.11.2019

Bullion down, other precious metals up as China-Trump speculation persists

Gold prices were subdued on Tuesday as Washington granted an extension for U.S. companies to continue doing business with Chinese company Huawei, a move that markets took as a sign of progressing U.S.-China trade relations.

Spot gold eased 0.1% to $1,469.76 per ounce as of 10:13 a.m. ET (1513 GMT), slightly...

Gold prices were subdued on Tuesday as Washington granted an extension for U.S. companies to continue doing business with Chinese company Huawei, a move that markets took as a sign of progressing U.S.-China trade relations.

Spot gold eased 0.1% to $1,469.76 per ounce as of 10:13 a.m. ET (1513 GMT), slightly...

20.11.2019

Copper, lead edge up, other non-ferrous base metals down on stalemates between supply and demand

Copper rose on Tuesday on hopes a trade deal could be reached between the United States and China, but gains were capped by concern that a full agreement was some way off.

Three-month copper on the London Metal Exchange (LME) was bid up 0.2% to $5,841 a tonne after failing to...

Copper rose on Tuesday on hopes a trade deal could be reached between the United States and China, but gains were capped by concern that a full agreement was some way off.

Three-month copper on the London Metal Exchange (LME) was bid up 0.2% to $5,841 a tonne after failing to...

Manufacturing industry

20.11.2019

Chemical industry of Kazakhstan increases production by 2%

The production value of the chemical industry of Kazakhstan in January – October 2019 reached 386.4 billion tenge. The industrial production index compared to the same period last year amounted to 102.3%. A year earlier, the volume of production was equal to 311.3 billion tenge, IPP 108.5%.

In general, in 2018,...

The production value of the chemical industry of Kazakhstan in January – October 2019 reached 386.4 billion tenge. The industrial production index compared to the same period last year amounted to 102.3%. A year earlier, the volume of production was equal to 311.3 billion tenge, IPP 108.5%.

In general, in 2018,...

20.11.2019

Three productions worth 10.4 billion tenge appear in Aktobe region

In Aktobe region, they plan to launch three new enterprises worth 10.4 billion tenge. In response to an official request from the editorial office, it says that projects are being implemented in the industrial zone of Aktobe. At the end of 2019 the beginning of 2020, it is expected to...

In Aktobe region, they plan to launch three new enterprises worth 10.4 billion tenge. In response to an official request from the editorial office, it says that projects are being implemented in the industrial zone of Aktobe. At the end of 2019 the beginning of 2020, it is expected to...

20.11.2019

President vows support for major manufacturing giants of Kazakhstan

President Kassym-Zhomart Tokayev instructed to select at least three to five technologically advanced industries that are competitive at least on a regional scale. To this, the Ministry of National Economy replied that the country focused on six manufacturing sectors. In total, 14 sectors were allocated for state support.

"In the state...

President Kassym-Zhomart Tokayev instructed to select at least three to five technologically advanced industries that are competitive at least on a regional scale. To this, the Ministry of National Economy replied that the country focused on six manufacturing sectors. In total, 14 sectors were allocated for state support.

"In the state...

Trade and Consumer Goods

20.11.2019

QazTrade to launch Export Acceleration Programme in 2020

Deputy Chair of QazTrade Center for Trade Policy Development Assel Egemberdiyeva noted in an interview with PrimeMinister.kz thet QazTrade is currently developing and implementing the Export Acceleration Programme.

This new support measure will be offered to exporters from next year.

“This year we are developing a methodological basis, studying international experience. We...

Deputy Chair of QazTrade Center for Trade Policy Development Assel Egemberdiyeva noted in an interview with PrimeMinister.kz thet QazTrade is currently developing and implementing the Export Acceleration Programme.

This new support measure will be offered to exporters from next year.

“This year we are developing a methodological basis, studying international experience. We...

20.11.2019

Turkish investors to build a new shopping center in Nur-Sultan

Turkish investors will build a new shopping center in Nur-Sultan. KAZAKH INVEST intends to support the Project, in this vein the Memorandum was signed between the National company and the representatives of the Kayatürk Group.

Within the framework of the document, the Turkish company expressed its intention to build a modern...

Turkish investors will build a new shopping center in Nur-Sultan. KAZAKH INVEST intends to support the Project, in this vein the Memorandum was signed between the National company and the representatives of the Kayatürk Group.

Within the framework of the document, the Turkish company expressed its intention to build a modern...

Agriculture

20.11.2019

Russia may export record volume of grain to Kazakhstan in this year

In this agricultural year, July 2019 to June 2020, Russia can export a record grain volume of 1.5-2.5 million tonnes to Kazakhstan, experts at the SovEco centre reported, relying on market participants' estimates.

In their opinion, the lowest harvest since 2012, harvested in Kazakhstan this year, will contribute to the supply...

In this agricultural year, July 2019 to June 2020, Russia can export a record grain volume of 1.5-2.5 million tonnes to Kazakhstan, experts at the SovEco centre reported, relying on market participants' estimates.

In their opinion, the lowest harvest since 2012, harvested in Kazakhstan this year, will contribute to the supply...

20.11.2019

Kazakh Ministry of Agriculture creates a blacklist of unscrupulous land users

The Ministry of Agriculture of Kazakhstan plans to create a public register of unscrupulous land users and prohibit their subsidies, the press service of the department said. "In the near future, it is planned to publish books on the history of fields and pastures in the public domain, create a...

The Ministry of Agriculture of Kazakhstan plans to create a public register of unscrupulous land users and prohibit their subsidies, the press service of the department said. "In the near future, it is planned to publish books on the history of fields and pastures in the public domain, create a...

20.11.2019

Only 36% of Kazakh villagers are satisfied with their life

According to a study conducted by Kazakh scientists, only 36% of women living in the village are satisfied with their life. In recent years, urbanization of the population has been recorded. More and more villagers are leaving their homes and moving to cities.

Least of all those who want to move...

According to a study conducted by Kazakh scientists, only 36% of women living in the village are satisfied with their life. In recent years, urbanization of the population has been recorded. More and more villagers are leaving their homes and moving to cities.

Least of all those who want to move...

20.11.2019

KazAgroFinance issues bonds for 20 billion tenge with a period of 5 years

On November 14, Fitch Ratings assigned the issue of priority unsecured bonds to KazAgroFinance, the expected long-term rating of BB + (EXP) and the expected national long-term rating of AA (kaz) (EXP). This was reported on the website of the Kazakhstan Stock Exchange.

Tenge-denominated bonds will be issued under the second...

On November 14, Fitch Ratings assigned the issue of priority unsecured bonds to KazAgroFinance, the expected long-term rating of BB + (EXP) and the expected national long-term rating of AA (kaz) (EXP). This was reported on the website of the Kazakhstan Stock Exchange.

Tenge-denominated bonds will be issued under the second...

20.11.2019

Wheat benchmark futures receive some comfort as FSU suppliers up sales prices

Chicago corn rose on Tuesday on buying interest after hitting a two-month low on Monday, with the slow pace of U.S. harvesting lending support.

Soybeans also rose on bargain-hunting after hitting a seven-week low on Monday, while firmer Black Sea prices helped support wheat. Gains were limited by renewed doubts over...

Chicago corn rose on Tuesday on buying interest after hitting a two-month low on Monday, with the slow pace of U.S. harvesting lending support.

Soybeans also rose on bargain-hunting after hitting a seven-week low on Monday, while firmer Black Sea prices helped support wheat. Gains were limited by renewed doubts over...

Communications and Transportation

20.11.2019

Investments in trade and repair of cars in Kazakhstan increase by 11%

Investments in the field of wholesale and retail trade, as well as repair of cars and motorcycles, for January-October 2019 amounted to 171.9 billion tenge, 10.7% more than for the same period last year.

A year earlier, an increase of 1.9% was noted in money, up to 155.3 billion tenge. However,...

Investments in the field of wholesale and retail trade, as well as repair of cars and motorcycles, for January-October 2019 amounted to 171.9 billion tenge, 10.7% more than for the same period last year.

A year earlier, an increase of 1.9% was noted in money, up to 155.3 billion tenge. However,...

20.11.2019

EBRD to finance reconstruction of road to eastern Kazakhstan leisure resort

At the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan the loan agreement on the Kurt-Kapshagay project was signed between the European Bank for Reconstruction and Development (EBRD) and KazAvtoZhol JSC, according to the press service of the RK MIID.

The loan amount is 34479.7 million tenge, these...

At the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan the loan agreement on the Kurt-Kapshagay project was signed between the European Bank for Reconstruction and Development (EBRD) and KazAvtoZhol JSC, according to the press service of the RK MIID.

The loan amount is 34479.7 million tenge, these...

20.11.2019

Almaty hosted a seminar on air freight security

The International Air Transport Association (IATA) has held a seminar under the topic "Supply chain security in air transportation" engaging the specialists from the Transport Workers’ Union of Kazakhstan "KAZLOGISTICS" in Almaty, Strategy2050.kz informs with reference to the Union’s press service.

IATA has conducted a training seminar for the employees of...

The International Air Transport Association (IATA) has held a seminar under the topic "Supply chain security in air transportation" engaging the specialists from the Transport Workers’ Union of Kazakhstan "KAZLOGISTICS" in Almaty, Strategy2050.kz informs with reference to the Union’s press service.

IATA has conducted a training seminar for the employees of...

20.11.2019

Boeing, Air Astana announce intent to buy 30 737 MAX airplanes

Air Astana intends to order 30 Boeing 737 MAX 8 airplanes to serve as the backbone of its new low-cost airline FlyArystan, the Kazakh flag carrier and Boeing announced at the Dubai Airshow. The companies on Tuesday signed a letter of intent for the 30 airplanes with a list price...

Air Astana intends to order 30 Boeing 737 MAX 8 airplanes to serve as the backbone of its new low-cost airline FlyArystan, the Kazakh flag carrier and Boeing announced at the Dubai Airshow. The companies on Tuesday signed a letter of intent for the 30 airplanes with a list price...

Real Estate

20.11.2019

Over 20 construction companies in Uralsk are left without orders for the whole year

Local enterprises turned to the Atameken regional chamber with a request to help in this situation. Each year, companies serviced six to seven construction sites. But this year they are being given to large companies from Almaty and Aktobe.

The fact is that the amount of taxes paid now affects the...

Local enterprises turned to the Atameken regional chamber with a request to help in this situation. Each year, companies serviced six to seven construction sites. But this year they are being given to large companies from Almaty and Aktobe.

The fact is that the amount of taxes paid now affects the...

Regional News

20.11.2019

Russia's VTB to expand grain business to abandon it later

Russia’s VTB bank, which is expanding in commodities in a bid to create a national grains champion, will exit the sector once it has built up the assets in the next few years, its CEO told Reuters.

Andrey Kostin also said in an interview that VTB plans to start trading wheat...

Russia’s VTB bank, which is expanding in commodities in a bid to create a national grains champion, will exit the sector once it has built up the assets in the next few years, its CEO told Reuters.

Andrey Kostin also said in an interview that VTB plans to start trading wheat...

20.11.2019

Russian stocks, currency ride high on strong demand

The rouble gained on Tuesday, with local taxes propping up demand for roubles and protecting the Russian currency from discouraging news regarding U.S-China trade talks.

At 0745 GMT, the rouble was 0.1% stronger against the dollar at 63.79 and had gained 0.1% to trade at 70.65 versus the euro.

CNBC had reported...

The rouble gained on Tuesday, with local taxes propping up demand for roubles and protecting the Russian currency from discouraging news regarding U.S-China trade talks.

At 0745 GMT, the rouble was 0.1% stronger against the dollar at 63.79 and had gained 0.1% to trade at 70.65 versus the euro.

CNBC had reported...

20.11.2019

China’s share prices revive on stimuli

China stocks rose the most in two weeks on Tuesday, as a cut in a key interbank funding rate on Monday bolstered hopes for more government stimulus to prop up slowing growth. The blue-chip CSI300 index rose 1.0%, to 3,947.04, while the Shanghai Composite Index gained 0.9%, to 2,933.99.

The People’s...

China stocks rose the most in two weeks on Tuesday, as a cut in a key interbank funding rate on Monday bolstered hopes for more government stimulus to prop up slowing growth. The blue-chip CSI300 index rose 1.0%, to 3,947.04, while the Shanghai Composite Index gained 0.9%, to 2,933.99.

The People’s...

20.11.2019

China's fiscal revenue up 3.8% in January-October

China's fiscal revenue increased 3.8 percent year-on-year to around 16.77 trillion yuan ($2.39 trillion) in the first 10 months of 2019, data showed Tuesday.

The central government collected about 8.07 trillion yuan in revenue during the period, up 4.4 percent year-on-year, while local governments saw revenue up 3.3 percent to about...

China's fiscal revenue increased 3.8 percent year-on-year to around 16.77 trillion yuan ($2.39 trillion) in the first 10 months of 2019, data showed Tuesday.

The central government collected about 8.07 trillion yuan in revenue during the period, up 4.4 percent year-on-year, while local governments saw revenue up 3.3 percent to about...

20.11.2019

China sweetens offer as global FDI bright spot

China continues to see an uptrend in foreign direct investment (FDI) inflow as investors remain bullish on tapping into a huge market with growing ease of doing business.

Monday's data from the Ministry of Commerce (MOC) showed that FDI into the Chinese mainland expanded 6.6 percent year-on-year to 752.41 billion yuan...

China continues to see an uptrend in foreign direct investment (FDI) inflow as investors remain bullish on tapping into a huge market with growing ease of doing business.

Monday's data from the Ministry of Commerce (MOC) showed that FDI into the Chinese mainland expanded 6.6 percent year-on-year to 752.41 billion yuan...

20.11.2019

IMF forecasts 6.3-percent GDP growth in Turkmenistan

International Monetary Fund (IMF) has said that Turkmenistan's GDP will grow by 6.3 percent in 2019, according to the IMF mission’s press release, published on the Fund’s website.

IMF mission led by Natalia Tamirisa visited Ashgabat during November 5-12, 2019 to assess recent developments and discuss economic and financial policy priorities with senior government...

International Monetary Fund (IMF) has said that Turkmenistan's GDP will grow by 6.3 percent in 2019, according to the IMF mission’s press release, published on the Fund’s website.

IMF mission led by Natalia Tamirisa visited Ashgabat during November 5-12, 2019 to assess recent developments and discuss economic and financial policy priorities with senior government...

Prices and Statistics

20.11.2019

Commodities

Date: November 20, 2019; Source: Bloomberg.com   Energy
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EST)
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 55.12 -0.09 -0.16% Dec 2019 12:59 AM
CO1:COMBrent Crude (ICE) USD/bbl. 60.77 -0.14 -0.23% Jan 2020 1:12 AM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 159.50 -0.87 -0.54% Dec 2019 1:10 AM
NG1:COMNatural Gas (Nymex) USD/MMBtu 2.52 +0.01 +0.52% Dec 2019 1:11 AM
HO1:COMHeating Oil (Nymex) USd/gal. 185.91 +0.17 +0.09% Dec 2019 1:02 AM
Precious and Industrial Metals
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EST)
GC1:COMGold (Comex) USD/t oz. 1,475.10 +0.80 +0.05% Dec 2019 1:12 AM
XAUUSD:CURGold Spot USD/t oz. 1,474.52 +2.06 +0.14% N/A 1:22 AM
SI1:COMSilver (Comex) USD/t oz. 17.13 +0.01 +0.04% Mar 2020 1:12 AM
HG1:COMCopper (Comex) USd/lb. 265.85 -1.00 -0.37% Mar 2020 1:10 AM
XPTUSD:CURPlatinum Spot USD/t oz. 909.79 -1.08 -0.12% N/A 1:22 AM
Agriculture
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EST)
C 1:COMCorn (CBOT) USd/bu. 379.75 -1.00 -0.26% Mar 2020 1:11 AM
W 1:COMWheat (CBOT) USd/bu. 515.25 0.00 0.00% Mar 2020 1:11 AM
CC1:COMCocoa (ICE) USD/MT 2,653.00 -11.00 -0.41% Mar 2020 11/19/2019
CT1:COMCotton #2 (ICE) USd/lb. 65.64 +0.29 +0.44% Mar 2020 1:12 AM
LC1:COMLive Cattle (CME) USd/lb. 125.05 -0.05 -0.04% Feb 2020 11/19/2019

Date: November 20, 2019; Source: Bloomberg.com

 

Energy

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EST)
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 55.12 -0.09 -0.16% Dec 2019 12:59 AM
CO1:COMBrent Crude (ICE) USD/bbl. 60.77 -0.14 -0.23% Jan 2020 1:12 AM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 159.50 -0.87 -0.54% Dec 2019 1:10 AM
NG1:COMNatural Gas (Nymex) USD/MMBtu 2.52 +0.01 +0.52% Dec 2019 1:11 AM
HO1:COMHeating Oil (Nymex) USd/gal. 185.91 +0.17 +0.09% Dec 2019 1:02 AM

Precious and Industrial Metals

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EST)
GC1:COMGold (Comex) USD/t oz. 1,475.10 +0.80 +0.05% Dec 2019 1:12 AM
XAUUSD:CURGold Spot USD/t oz. 1,474.52 +2.06 +0.14% N/A 1:22 AM
SI1:COMSilver (Comex) USD/t oz. 17.13 +0.01 +0.04% Mar 2020 1:12 AM
HG1:COMCopper (Comex) USd/lb. 265.85 -1.00 -0.37% Mar 2020 1:10 AM
XPTUSD:CURPlatinum Spot USD/t oz. 909.79 -1.08 -0.12% N/A 1:22 AM

Agriculture

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EST)
C 1:COMCorn (CBOT) USd/bu. 379.75 -1.00 -0.26% Mar 2020 1:11 AM
W 1:COMWheat (CBOT) USd/bu. 515.25 0.00 0.00% Mar 2020 1:11 AM
CC1:COMCocoa (ICE) USD/MT 2,653.00 -11.00 -0.41% Mar 2020 11/19/2019
CT1:COMCotton #2 (ICE) USd/lb. 65.64 +0.29 +0.44% Mar 2020 1:12 AM
LC1:COMLive Cattle (CME) USd/lb. 125.05 -0.05 -0.04% Feb 2020 11/19/2019
20.11.2019

Exchange Rates

Date: November 20, 2019; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 387.16
1 EURO EUR / KZT 428.47
1 RUSSIAN ROUBLE RUB / KZT 6.08
1 CHINESE YUAN CNY / KZT 55.13
1 KYRGYZIAN SOM KGS / KZT 5.55
1 GREAT BRITAIN POUND GBP / KZT 501.45
1 CANADIAN DOLLAR CAD / KZT 293.24
1 AUSTRALIAN DOLLAR AUD / KZT 263.73

Date: November 20, 2019; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

387.16

1 EURO

EUR / KZT

428.47

1 RUSSIAN ROUBLE

RUB / KZT

6.08

1 CHINESE YUAN

CNY / KZT

55.13

1 KYRGYZIAN SOM

KGS / KZT

5.55

1 GREAT BRITAIN POUND

GBP / KZT

501.45

1 CANADIAN DOLLAR

CAD / KZT

293.24

1 AUSTRALIAN DOLLAR

AUD / KZT

263.73