Issue 4175 - 29.03.2023
29.03.2023

Contracts worth over $565 million signed by Kazakhstan and China

Participants of the 2nd Friendly Dialogue of Cross-Border Cooperation between Kazakhstan and China agreed to strengthen bilateral economic relations.

The dialogue was held in Almaty within the framework of the official visit of a member of the Politburo of the CPC Central Committee, Secretary of the CPC Party Committee of the Xinjiang Uygur Autonomous Region of the PRC Ma Xingrui to Kazakhstan.

As noted in the Government, a special nature of relations has developed between Kazakhstan and China in all areas of activity. This is evidenced by the continuous interaction of countries in matters of trade, investment and logistics.

“The heads of state pay considerable attention to the development of comprehensive cooperation. This year, the Belt and Road Initiative turns 10 years old. During this period, our partnership has reached a new qualitative level. Positive dynamics is observed in all areas of cooperation. Today, 3,300 joint ventures operate in Kazakhstan in such strategic sectors as the mining and metallurgical complex, manufacturing and others,” Deputy Prime Minister - Minister of Trade and Integration of the Republic of Kazakhstan Serik Zhumangarin said opening the forum.

The key region traditionally linking the countries is Chinese Xinjiang, which accounts for more than 40% of the total trade turnover between Kazakhstan and China. Meanwhile, the two states have a huge potential for expanding trade and economic cooperation.

According to the Deputy Prime Minister, Kazakhstan is ready to offer a wide range of industrial and agricultural products to the Chinese buyer in 135 commodity items worth over $1 billion. In particular, Kazakh enterprises can supply chilled meat products, fish products, poultry meat and offal, pork, eggs to China. , horsemeat and other types of high-margin goods.

“For this, it is very important to remove restrictions on the export of Kazakh meat products to China related to animal diseases. The other day, the World Organization for Animal Health recommended confirming the status of five south-eastern zones of Kazakhstan free from FMD with vaccination,” Serik Zhumangarin addressed the representatives of the Chinese delegation.

During his speech at the forum, the vice-premier also noted the need for the arrival of specialists from the General Administration of Customs of China to Kazakhstan to inspect Kazakh producers of crop and livestock products. This will speed up the procedure for signing and agreeing on protocols on requirements for certain types of domestic agricultural products.

“Kazakhstan is ready to increase the volume of annual wheat supplies to China to 1 million tons and more. For this, among other things, there are infrastructural opportunities. I have given instructions on the pilot direction of one railway train of grain to the bonded zone of the PRC,” Serik Zhumangarin informed the participants of the event and proposed the establishment of a Subcommittee on Agriculture between the Republic of Kazakhstan and the PRC to promptly resolve issues of mutual trade.

At the cross-border cooperation forum, the parties discussed ways to improve the efficiency of checkpoints, logistics centers and transport infrastructure along the border.

Currently, measures are being taken to modernize the trade infrastructure and the border control system at the Khorgos ICBC and the Khorgos-Eastern Gate FEZ. Transit directions are being developed, including within the framework of the Trans-Caspian International Transport Route. In 2022, the volume of cargo transportation in transit by the railway of Kazakhstan increased by 1.1 million tons and amounted to 9.4 million tons. Transit transportation by road from China doubled and amounted to 980.6 thousand tons.

According to the Deputy Prime Minister - Minister of Trade and Integration of the Republic of Kazakhstan, in the port of Lianyungang, together with the Kazakh-Chinese logistics terminal, the necessary base for the unhindered transit of goods has been formed. To create favorable infrastructure conditions, it is planned to build a trade hub in Urumqi and Almaty. In addition, a third railway crossing between Kazakhstan and China will be opened in the area of ​​the automobile checkpoint Bakhty (RK) - Chuguchak (PRC).

The event was attended by akims of the city of Almaty, four border regions of Kazakhstan (Abay, Zhetysu, Almaty, East Kazakhstan) and representatives of the XUAR, as well as business delegations of the two countries. In particular, more than 150 Kazakh entrepreneurs, 20 leading Xinjiang businessmen, 10 representatives of large Chinese investment enterprises present in Kazakhstan arrived at the forum.

On the sidelines of the forum, bilateral B2B negotiations were held between Kazakh and Chinese entrepreneurs in various sectors of the economy: construction, energy, mining, agriculture, food industry, engineering, tourism, investment and others. 16 bilateral documents were signed, including 5 commercial ones worth $565.4 million.

The event was organized by the Ministry of Trade and Integration of the Republic of Kazakhstan with the support of the Almaty Akimat and QazTrade Trade Policy Development Center JSC.

At the end of 2022, mutual trade between Kazakhstan and China reached $24 billion. Exports of Kazakh products to China grew by more than a third and exceeded $13 billion. Imports increased by 33.5% and amounted to $11 billion.

Kazakhstan exports oil, copper and copper cathodes, copper ores and concentrates, natural gas, ferroalloys, uranium, sunflower oil to China. China mainly imports telephones, computers, electric generating sets, ferrous metal products, tires, parts and accessories for automobiles and tractors, road and construction equipment, and automobiles.

By the Kazakhstanskaya Pravda

Kazakhstan General

29.03.2023

Kazakhstani delegation takes part in 10th Asia-Pacific Forum on Sustainable Development

The delegation of the Republic of Kazakhstan headed by Ambassador of Kazakhstan to Thailand and Permanent Representative of Kazakhstan to UN ESCAP Arman Issetov took part in the Tenth Asia-Pacific Forum on Sustainable Development under the theme «Accelerating the recovery from the coronavirus disease (COVID-19) and the full implementation of...

The delegation of the Republic of Kazakhstan headed by Ambassador of Kazakhstan to Thailand and Permanent Representative of Kazakhstan to UN ESCAP Arman Issetov took part in the Tenth Asia-Pacific Forum on Sustainable Development under the theme «Accelerating the recovery from the coronavirus disease (COVID-19) and the full implementation of...

29.03.2023

Intergovernmental commission discusses host of measures for supporting Kazakhstan’s ethnic germans

Kazakhstan’s Deputy Foreign Minister Roman Vassilenko and Germany’s Federal Government Commissioner for Repatriates and National Minorities, Bundestag MP Natalie Pawlik co-hosted the 19th meeting of the Kazakh-German Intergovernmental Commission for the Affairs of Ethnic Germans in Kazakhstan.

The Intergovernmental Commission holds regular meetings to lend support to 226 thousand ethnic Germans living...

Kazakhstan’s Deputy Foreign Minister Roman Vassilenko and Germany’s Federal Government Commissioner for Repatriates and National Minorities, Bundestag MP Natalie Pawlik co-hosted the 19th meeting of the Kazakh-German Intergovernmental Commission for the Affairs of Ethnic Germans in Kazakhstan.

The Intergovernmental Commission holds regular meetings to lend support to 226 thousand ethnic Germans living...

29.03.2023

Thousands of HIV cases in Kazakhstan remain unnoticed

As of June 30, 2022, Kazakhstan had about 30,000 registered HIV-positive patients, according to the Kazakh Research Centre for Dermatology and Infectious Diseases of the Kazakh Ministry of Health. Of those, 89.6% (26,900) were Kazakhstani men aged 15-49.

The main indicator for the disease globally is the HIV prevalence rate in...

As of June 30, 2022, Kazakhstan had about 30,000 registered HIV-positive patients, according to the Kazakh Research Centre for Dermatology and Infectious Diseases of the Kazakh Ministry of Health. Of those, 89.6% (26,900) were Kazakhstani men aged 15-49.

The main indicator for the disease globally is the HIV prevalence rate in...

Finance and Investment

29.03.2023

The President approved the adjustment of the budget for 2023-2025

An additional increase in spending is 2.2 trillion tenge, which will be used to implement the initiatives of the head of state from the message and the election program.

The head of state signed the Law of the Republic of Kazakhstan “On Amendments and Additions to the Law of the Republic...

An additional increase in spending is 2.2 trillion tenge, which will be used to implement the initiatives of the head of state from the message and the election program.

The head of state signed the Law of the Republic of Kazakhstan “On Amendments and Additions to the Law of the Republic...

29.03.2023

Russia, Uzbekistan top lists in Kazakhstan’s cross-border cash traffic

The volume of money transfers through international money transfer systems increased by 32.7% last year, to 1.8 trillion tenge, follows from the data published by the National Bank.

According to the regulator, the main share of transactions (94.7%) fell on cross-border transfers between Kazakhstan and other countries. Most of all, Kazakhstanis...

The volume of money transfers through international money transfer systems increased by 32.7% last year, to 1.8 trillion tenge, follows from the data published by the National Bank.

According to the regulator, the main share of transactions (94.7%) fell on cross-border transfers between Kazakhstan and other countries. Most of all, Kazakhstanis...

29.03.2023

Kazakh banks’ consumer loan conditions compared

One of the most popular credit products among Kazakhstanis is consumer loans without collateral and without restrictions on the purposes for which funds can be used. Today, 12 out of 21 BSTBs in Kazakhstan offer unsecured consumer loans for any purpose.

Bereke Bank offers the lowest rate in the segment: from...

One of the most popular credit products among Kazakhstanis is consumer loans without collateral and without restrictions on the purposes for which funds can be used. Today, 12 out of 21 BSTBs in Kazakhstan offer unsecured consumer loans for any purpose.

Bereke Bank offers the lowest rate in the segment: from...

29.03.2023

Work of banks and MFIs in Kazakhstan changes

Kazakh banks want to oblige them to sell distressed assets on special digital platforms. Olzhas Kizatov, Deputy Chairman of the Agency for Financial Market Regulation, spoke about what other changes await the financial market.

According to him, this year the regular AQR will be held on 11 banks. It is scheduled...

Kazakh banks want to oblige them to sell distressed assets on special digital platforms. Olzhas Kizatov, Deputy Chairman of the Agency for Financial Market Regulation, spoke about what other changes await the financial market.

According to him, this year the regular AQR will be held on 11 banks. It is scheduled...

29.03.2023

Kazakhstan wants to change budget for 2023

Kazakhstan plans to amend the budget for 2023. According to the draft resolution, the national budget revenues for 2023 will be increased from 17.5 trillion tenge to 19.1 trillion tenge. Tax revenues will increase to 14.3 trillion tenge (previously 13.5 trillion tenge), non-tax revenues will amount to 351.8 billion tenge...

Kazakhstan plans to amend the budget for 2023. According to the draft resolution, the national budget revenues for 2023 will be increased from 17.5 trillion tenge to 19.1 trillion tenge. Tax revenues will increase to 14.3 trillion tenge (previously 13.5 trillion tenge), non-tax revenues will amount to 351.8 billion tenge...

29.03.2023

Capital adequacy ratio of 10 banks in Kazakhstan decreases by 1.7% after AQR

Since 2022, the AQR assessment of the quality of assets of the banking sector has been carried out in 10 large second-tier banks, which occupy a 71% share in the assets of the banking sector. Olzhas Kizatov, Deputy Chairman of the Agency of Kazakhstan for Regulation and Development of the...

Since 2022, the AQR assessment of the quality of assets of the banking sector has been carried out in 10 large second-tier banks, which occupy a 71% share in the assets of the banking sector. Olzhas Kizatov, Deputy Chairman of the Agency of Kazakhstan for Regulation and Development of the...

29.03.2023

National currency of Kazakhstan strengthens against US dollar by almost four tenge

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on March 28, 2023 at 17:00 amounted to 454.74 tenge. Compared to the data as of 17:00 on March 27 (458.63 tenge per 1 dollar), the national currency strengthened against the dollar by 3.89 tenge.

According to KASE, the...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on March 28, 2023 at 17:00 amounted to 454.74 tenge. Compared to the data as of 17:00 on March 27 (458.63 tenge per 1 dollar), the national currency strengthened against the dollar by 3.89 tenge.

According to KASE, the...

29.03.2023

Global stock markets thrive on depressed greenback

The U.S. dollar slid for a second day against major peers on Tuesday as receding fears of a full-blown banking crisis sapped demand for the safest assets.

The yen, traditionally also a safe haven, however, rebounded strongly for overnight losses, with analysts pointing to likely repatriation of overseas profits by Japanese...

The U.S. dollar slid for a second day against major peers on Tuesday as receding fears of a full-blown banking crisis sapped demand for the safest assets.

The yen, traditionally also a safe haven, however, rebounded strongly for overnight losses, with analysts pointing to likely repatriation of overseas profits by Japanese...

Oil and Gas Sector

29.03.2023

Baku-Tbilisi-Ceyhan pipeline transports 125,000 tonnes of oil from Tengiz in April

The KazTransOil company in the port of Aktau shipped 9,959 tonnes of oil from the Kazakh Tengiz field to the President Heydar Aliev tanker for further delivery of raw materials to the Baku-Tbilisi-Ceyhan oil pipeline. According to the company's press service, by the end of March it is planned to...

The KazTransOil company in the port of Aktau shipped 9,959 tonnes of oil from the Kazakh Tengiz field to the President Heydar Aliev tanker for further delivery of raw materials to the Baku-Tbilisi-Ceyhan oil pipeline. According to the company's press service, by the end of March it is planned to...

29.03.2023

Kazakhstan's role in Russia’s oil strategy may be more significant than expected

Russia could agree with Kazakhstan on a rather interesting scheme for the supply of oil to the countries of the European Union. Stanislav Mitrakhovich, an expert from the National Energy Security Fund and the Financial University under the Government of Russia, came to this conclusion. In an interview with the...

Russia could agree with Kazakhstan on a rather interesting scheme for the supply of oil to the countries of the European Union. Stanislav Mitrakhovich, an expert from the National Energy Security Fund and the Financial University under the Government of Russia, came to this conclusion. In an interview with the...

29.03.2023

Doomsday for KazMunayGas in sight

The KazMunayGas national company is forced to conduct legal disputes in several jurisdictions at once. This became known from the published consolidated financial statements of KMG for 2022.

As it turned out, the international consortium Karachaganak Petroleum Operating (KPO) in August last year filed a lawsuit with the International Chamber of...

The KazMunayGas national company is forced to conduct legal disputes in several jurisdictions at once. This became known from the published consolidated financial statements of KMG for 2022.

As it turned out, the international consortium Karachaganak Petroleum Operating (KPO) in August last year filed a lawsuit with the International Chamber of...

29.03.2023

Russia deviates all oil supplies from hostile to friendly customers

Russia has successfully redirected all its crude oil exports affected by Western sanctions over Ukraine to "friendly" countries, Energy Minister Nikolai Shulginov said on Tuesday, while still a decline in oil and gas output this year.

The West imposed wide-ranging sanctions, including an embargo on seaborne Russian oil imports, after Moscow...

Russia has successfully redirected all its crude oil exports affected by Western sanctions over Ukraine to "friendly" countries, Energy Minister Nikolai Shulginov said on Tuesday, while still a decline in oil and gas output this year.

The West imposed wide-ranging sanctions, including an embargo on seaborne Russian oil imports, after Moscow...

29.03.2023

Bulls stick to Brent on northern Iraq aggravation

Crude prices edged higher on Tuesday, extending sharp gains from the previous session on supply disruption risks from Iraqi Kurdistan and hopes that turmoil in banking is being contained.

Brent crude futures gained 32 cents, or 0.4%, to $78.44 a barrel by 1408 GMT. West Texas Intermediate U.S. crude was up...

Crude prices edged higher on Tuesday, extending sharp gains from the previous session on supply disruption risks from Iraqi Kurdistan and hopes that turmoil in banking is being contained.

Brent crude futures gained 32 cents, or 0.4%, to $78.44 a barrel by 1408 GMT. West Texas Intermediate U.S. crude was up...

29.03.2023

Howling winds, warming air pull natural gas benchmarks down

British and Dutch wholesale gas prices fell on Tuesday morning as milder temperature and stronger wind forecasts curbed demand.

The front-month contract at the Dutch TTF hub edged down by 0.20 euro to 41.30 euros per megawatt hour (MWh), while the May contract was 0.55 euro lower at 41.40 euros/MWh by...

British and Dutch wholesale gas prices fell on Tuesday morning as milder temperature and stronger wind forecasts curbed demand.

The front-month contract at the Dutch TTF hub edged down by 0.20 euro to 41.30 euros per megawatt hour (MWh), while the May contract was 0.55 euro lower at 41.40 euros/MWh by...

Metals and Minerals

29.03.2023

Instability in financial markets supports demand for gold in Kazakhstan

In April, high demand for gold will continue. Oksana Lukicheva, an analyst at Otkritie Investments, shared this opinion. During the conversation, the expert noted that several factors currently influence the gold market. First of all, it is financial instability in the economies of Western countries, as well as throughout the...

In April, high demand for gold will continue. Oksana Lukicheva, an analyst at Otkritie Investments, shared this opinion. During the conversation, the expert noted that several factors currently influence the gold market. First of all, it is financial instability in the economies of Western countries, as well as throughout the...

29.03.2023

Kazzinc intends to spend 722 million tenge on environmental protection measures in 2023

The largest company in the region continues to take measures to reduce the burden on the environment. Significant results have been achieved in 26 years. Ust-Kamenogorsk Metallurgical Complex (UK MK) has significantly reduced the amount of sulphur dioxide emissions from 69 thousand tonnes in 2001 to 16 thousand tonnes in...

The largest company in the region continues to take measures to reduce the burden on the environment. Significant results have been achieved in 26 years. Ust-Kamenogorsk Metallurgical Complex (UK MK) has significantly reduced the amount of sulphur dioxide emissions from 69 thousand tonnes in 2001 to 16 thousand tonnes in...

29.03.2023

Enterprises of Kazakhstan able to buy copper rod at reduced price

The Ministry of Industry and Infrastructure Development of Kazakhstan hosted a ceremony of signing a tripartite agreement on providing domestic raw materials to manufacturing enterprises in the copper industry. The document was concluded between MIID, Kazakhmys Corporation and manufacturing enterprises, the press service of the Ministry of Industry reports.

The ministry...

The Ministry of Industry and Infrastructure Development of Kazakhstan hosted a ceremony of signing a tripartite agreement on providing domestic raw materials to manufacturing enterprises in the copper industry. The document was concluded between MIID, Kazakhmys Corporation and manufacturing enterprises, the press service of the Ministry of Industry reports.

The ministry...

29.03.2023

Bullion gathers steam on ailing gringo dollar

Gold prices edged up on Tuesday as the U.S. dollar eased, although an improvement in risk appetite after efforts by regulators to contain worries over the global banking system limited the safe-haven metal's appeal .

Spot gold was up 0.1% at $1,958.85 per ounce, as of 0048 GMT. U.S. gold futures...

Gold prices edged up on Tuesday as the U.S. dollar eased, although an improvement in risk appetite after efforts by regulators to contain worries over the global banking system limited the safe-haven metal's appeal .

Spot gold was up 0.1% at $1,958.85 per ounce, as of 0048 GMT. U.S. gold futures...

29.03.2023

Iron ore, coal veer up, steel benchmarks mixed

Dalian and Singapore iron ore futures rebounded on Monday from oversold levels, although traders’ disappointment particularly over tepid demand for construction steel products in China capped gains.

Benchmark prices of the steelmaking ingredient slumped last week, hitting the lowest levels in more than five weeks on China’s Dalian Commodity Exchange and...

Dalian and Singapore iron ore futures rebounded on Monday from oversold levels, although traders’ disappointment particularly over tepid demand for construction steel products in China capped gains.

Benchmark prices of the steelmaking ingredient slumped last week, hitting the lowest levels in more than five weeks on China’s Dalian Commodity Exchange and...

29.03.2023

Lead, tin, nickel advance amidst other base metals’ retreat

Nickel prices extended gains on Tuesday, boosted by dwindling inventories and short covering by speculators, but expectations of rising supply from Indonesia curbed the upside.

Three-month nickel on the London Metal Exchange gained 0.1% to $23,865 a tonne in official open-outcry trading after earlier climbing as much as 1% and following...

Nickel prices extended gains on Tuesday, boosted by dwindling inventories and short covering by speculators, but expectations of rising supply from Indonesia curbed the upside.

Three-month nickel on the London Metal Exchange gained 0.1% to $23,865 a tonne in official open-outcry trading after earlier climbing as much as 1% and following...

Energy Industry

29.03.2023

Kazakhstan selects contractor for construction of gas power plant

Samruk-Kazyna Construction, which is in charge of the construction of a new 1,000 MW gas power plant in the Turkestan region, has identified a contractor to create its main site, citing the press service of the Samruk-Kazyna Foundation.

“In March, an open tender was held for the purchase of complex turnkey...

Samruk-Kazyna Construction, which is in charge of the construction of a new 1,000 MW gas power plant in the Turkestan region, has identified a contractor to create its main site, citing the press service of the Samruk-Kazyna Foundation.

“In March, an open tender was held for the purchase of complex turnkey...

Manufacturing industry

29.03.2023

Kazakhstan receives 50 million euro from French investors

The French company may invest 50 million euro in Kazakhstan. This was reported in the Foreign Ministry. The investor is interested in the production and maintenance of locomotives and rolling stock equipment. The company from France also wants to invest in railway infrastructure projects. The Foreign Ministry noted that the...

The French company may invest 50 million euro in Kazakhstan. This was reported in the Foreign Ministry. The investor is interested in the production and maintenance of locomotives and rolling stock equipment. The company from France also wants to invest in railway infrastructure projects. The Foreign Ministry noted that the...

29.03.2023

Kazakhstan and China agree to implement projects worth $565 million

Projects worth $565.4 million are planned to be implemented by Kazakhstan jointly with China. Within the framework of the II Friendly Dialogue of Cross-Border Cooperation between Kazakhstan and China (Xinjiang Uygur Autonomous Region) 16 documents were signed. Including five commercial contracts for $565.4 million. Six interregional agreements and five memorandums...

Projects worth $565.4 million are planned to be implemented by Kazakhstan jointly with China. Within the framework of the II Friendly Dialogue of Cross-Border Cooperation between Kazakhstan and China (Xinjiang Uygur Autonomous Region) 16 documents were signed. Including five commercial contracts for $565.4 million. Six interregional agreements and five memorandums...

29.03.2023

Investors from China help Kazakhstan launch new projects

Kazakhstan plans to start construction work on 12 projects worth more than $6 billion, Kazakh Invest said. Construction of new facilities will begin in 2023-2025. All these 12 projects are planned to be implemented with investors from China.

Thus, in Kazakhstan, companies from the Middle Kingdom will help establish the production...

Kazakhstan plans to start construction work on 12 projects worth more than $6 billion, Kazakh Invest said. Construction of new facilities will begin in 2023-2025. All these 12 projects are planned to be implemented with investors from China.

Thus, in Kazakhstan, companies from the Middle Kingdom will help establish the production...

29.03.2023

Investor from Turkey can finance plant in Turkestan region of Kazakhstan

It is planned to open a zinc plant in the Turkestan region, with reference to the regional administration. The Turkish company Jayland Holding is interested in the implementation of the project. It is expected that the zinc plant will start working on the territory of the free economic zone.

"A foreign...

It is planned to open a zinc plant in the Turkestan region, with reference to the regional administration. The Turkish company Jayland Holding is interested in the implementation of the project. It is expected that the zinc plant will start working on the territory of the free economic zone.

"A foreign...

Trade and Consumer Goods

29.03.2023

Kazakhstani retailers seek replacement for expensive goods

A survey of Kazakhstani retail chains showed that retailers are looking for more affordable goods to replace the more expensive categories. According to the study, 45.5% of Kazakhstani retail chains participating in the survey admit that the current trend of this year is the search for more affordable goods to...

A survey of Kazakhstani retail chains showed that retailers are looking for more affordable goods to replace the more expensive categories. According to the study, 45.5% of Kazakhstani retail chains participating in the survey admit that the current trend of this year is the search for more affordable goods to...

Agriculture

29.03.2023

Kazakhstan sells more cucumbers and tomatoes to Russia

Kazakhstan began to sell more cucumbers and tomatoes to Russia, but less cabbage. Traditionally, the country supplied vegetables to Russia, Uzbekistan, Turkmenistan, Pakistan and Afghanistan.

In January 2023, potato exports increased by 28.4 times and amounted to 19.8 thousand tonnes compared to the same period in 2022. Uzbekistan became the largest...

Kazakhstan began to sell more cucumbers and tomatoes to Russia, but less cabbage. Traditionally, the country supplied vegetables to Russia, Uzbekistan, Turkmenistan, Pakistan and Afghanistan.

In January 2023, potato exports increased by 28.4 times and amounted to 19.8 thousand tonnes compared to the same period in 2022. Uzbekistan became the largest...

29.03.2023

Farmers of Kazakhstan wait for two years of abyss

Agricultural prices will remain low for at least the next two seasons. The reason is the record carry-over stocks accumulated by buying countries during the pandemic, as well as good harvests from the main producing countries.

It will be especially difficult for Kazakhstan in this situation, since our domestic market will...

Agricultural prices will remain low for at least the next two seasons. The reason is the record carry-over stocks accumulated by buying countries during the pandemic, as well as good harvests from the main producing countries.

It will be especially difficult for Kazakhstan in this situation, since our domestic market will...

29.03.2023

East of Kazakhstan prepares for sowing campaign

The region plans to start the spring campaign in traditional agricultural terms. The amount of state support that will be allocated for these purposes is already known.

How is the situation with subsidies for fertilisers, herbicides and other necessary components to guarantee a good harvest, told the Department of Agriculture.

For the...

The region plans to start the spring campaign in traditional agricultural terms. The amount of state support that will be allocated for these purposes is already known.

How is the situation with subsidies for fertilisers, herbicides and other necessary components to guarantee a good harvest, told the Department of Agriculture.

For the...

29.03.2023

US wheat futures keep riding high as maize contract depreciates

Chicago corn futures slipped on Tuesday, after touching a one-month high in the previous session on concerns over Argentina and U.S crops, while wheat and soy futures were little changed.

Traders are looking ahead to Friday’s annual U.S. Agriculture Department (USDA) planting intentions report.

U.S. 2023 corn seeding is seen at 90.880...

Chicago corn futures slipped on Tuesday, after touching a one-month high in the previous session on concerns over Argentina and U.S crops, while wheat and soy futures were little changed.

Traders are looking ahead to Friday’s annual U.S. Agriculture Department (USDA) planting intentions report.

U.S. 2023 corn seeding is seen at 90.880...

Communications and Transportation

29.03.2023

Beeline increases speed of mobile Internet in Kazakhstan

Modern life is unimaginable without mobile Internet, the consumption of which is growing rapidly. Beeline shares its data. If in 2021 the company's subscriber spent on average about 12 GB of mobile Internet, then in 2022 this figure increased by 25% and amounted to 15 GB. The leaders in consumption...

Modern life is unimaginable without mobile Internet, the consumption of which is growing rapidly. Beeline shares its data. If in 2021 the company's subscriber spent on average about 12 GB of mobile Internet, then in 2022 this figure increased by 25% and amounted to 15 GB. The leaders in consumption...

29.03.2023

Kazakhstan spends billions of tenge to solve problem of wear and tear of trains

Depreciation of locomotives in Kazakhstan is planned to be reduced at the expense of billions of tenge. The Ministry of Industry and Infrastructure Development announced the details. According to the agency, as of March 1, the depreciation of the locomotive fleet was 64.7%. The average age is 24 years. The...

Depreciation of locomotives in Kazakhstan is planned to be reduced at the expense of billions of tenge. The Ministry of Industry and Infrastructure Development announced the details. According to the agency, as of March 1, the depreciation of the locomotive fleet was 64.7%. The average age is 24 years. The...

29.03.2023

Yandex Plus begins to form regional hub in Almaty of Kazakhstan

Yandex Plus announces the expansion of the international team and the formation of a regional cluster in the countries of Central Asia, where Kazakhstan will become a focus region. The head office of the cluster will be located in the city of Almaty.

The local hub will allow Plus to continue...

Yandex Plus announces the expansion of the international team and the formation of a regional cluster in the countries of Central Asia, where Kazakhstan will become a focus region. The head office of the cluster will be located in the city of Almaty.

The local hub will allow Plus to continue...

Real Estate and Construction

29.03.2023

Kazakhstan subsidises employers who build rental housing in rural areas

The Ministry of Investment and Development of Kazakhstan has developed the Rules for subsidising the costs of employers who have built rental housing in a village, township, rural district. Lists of villages, settlements, rural districts, on the territory of which employers plan to build dwellings, are determined by administrations and...

The Ministry of Investment and Development of Kazakhstan has developed the Rules for subsidising the costs of employers who have built rental housing in a village, township, rural district. Lists of villages, settlements, rural districts, on the territory of which employers plan to build dwellings, are determined by administrations and...

Regional News

29.03.2023

Russia's endowment funds on the rise

In 2022, the volume of endowment funds managed by management companies more than tripled, exceeding RUB120 billion. This was facilitated by the formation by the Vladimir Potanin Charitable Foundation of six endowment funds, most of which were transferred to market management companies, as well as the emergence of several smaller...

In 2022, the volume of endowment funds managed by management companies more than tripled, exceeding RUB120 billion. This was facilitated by the formation by the Vladimir Potanin Charitable Foundation of six endowment funds, most of which were transferred to market management companies, as well as the emergence of several smaller...

29.03.2023

Russian rouble loses local support for national exporters

The dollar fell by 39.5 kopeck to 76.68 rouble this week. The euro slipped by 6 kopeck to 82.65 rouble. The Chinese yuan fell by 2.6 kopeck to 11.113 rouble.

• Trading volume in USDRUB and CNYRUB decreased versus Friday, while volume in EURRUB increased. For the first time in the...

The dollar fell by 39.5 kopeck to 76.68 rouble this week. The euro slipped by 6 kopeck to 82.65 rouble. The Chinese yuan fell by 2.6 kopeck to 11.113 rouble.

• Trading volume in USDRUB and CNYRUB decreased versus Friday, while volume in EURRUB increased. For the first time in the...

29.03.2023

Russian market believes in Unipro's future dividends

The Russian stock market by the middle of the Tuesday session, after rising at its beginning, corrected down. By 14:05 Moscow time, the Moscow Exchange Index fell by 0.28% to 2,433.81 points, while the dollar RTS fell by less than 0.1% to 1,001.41 points.

The rouble on the Moscow Exchange changed...

The Russian stock market by the middle of the Tuesday session, after rising at its beginning, corrected down. By 14:05 Moscow time, the Moscow Exchange Index fell by 0.28% to 2,433.81 points, while the dollar RTS fell by less than 0.1% to 1,001.41 points.

The rouble on the Moscow Exchange changed...

29.03.2023

Russian exporters in top of profitable ideas

Finam analysts assessed the effectiveness of previously released forecasts for securities. Among the most profitable were the shares of Russian oilmen and metallurgists Bashneft, Rosneft, Polymetal and Rusal.

Uncertainty remains on the Russian stock market, which is reinforced by growing geopolitical tensions. Nevertheless, the investment ideas of Finam analysts, including the...

Finam analysts assessed the effectiveness of previously released forecasts for securities. Among the most profitable were the shares of Russian oilmen and metallurgists Bashneft, Rosneft, Polymetal and Rusal.

Uncertainty remains on the Russian stock market, which is reinforced by growing geopolitical tensions. Nevertheless, the investment ideas of Finam analysts, including the...

29.03.2023

Russia and Belarus come to balance

Against the backdrop of sanctions against Russia and Belarus, their trade turnover in 2022 grew to a record $43 billion. As was reported on Monday, March 27, at a meeting of the Council of Ministers of the Union State, Russian supplies decreased, and Belarusian supplies due to the reorientation of...

Against the backdrop of sanctions against Russia and Belarus, their trade turnover in 2022 grew to a record $43 billion. As was reported on Monday, March 27, at a meeting of the Council of Ministers of the Union State, Russian supplies decreased, and Belarusian supplies due to the reorientation of...

29.03.2023

Yuan holds back pending fresh China macroeconomic data

China's yuan weakened on Tuesday while holding to a narrow range, as investors waited on the sidelines for further evidence that the country is on track for a solid economic recovery after recent data gave mixed signals.

The yuan meandered within a tight range of 133 pips during the morning in...

China's yuan weakened on Tuesday while holding to a narrow range, as investors waited on the sidelines for further evidence that the country is on track for a solid economic recovery after recent data gave mixed signals.

The yuan meandered within a tight range of 133 pips during the morning in...

29.03.2023

Mainland China stocks depressed as Hong Kong market surges

Hong Kong stocks rose on Tuesday, as investor fears of deeper banking stress were eased after failed Silicon Valley Bank secured a buyer. Chinese shares, however, were dragged lower by information technology companies.

Hong Kong's benchmark Hang Seng Index climbed 1.1%, and the China Enterprises Index added 1.2%.

China's blue-chip CSI300 Index...

Hong Kong stocks rose on Tuesday, as investor fears of deeper banking stress were eased after failed Silicon Valley Bank secured a buyer. Chinese shares, however, were dragged lower by information technology companies.

Hong Kong's benchmark Hang Seng Index climbed 1.1%, and the China Enterprises Index added 1.2%.

China's blue-chip CSI300 Index...

29.03.2023

Leading business players upbeat about China's economic outlook

Economic experts and business leaders showed optimism about China's economic growth outlook in 2023 at the just-concluded China Development Forum (CDF) 2023, saying that China is a major driver of the global economy and a reliable supplier for industrial and supply chains.

In its government work report, China unveiled an around...

Economic experts and business leaders showed optimism about China's economic growth outlook in 2023 at the just-concluded China Development Forum (CDF) 2023, saying that China is a major driver of the global economy and a reliable supplier for industrial and supply chains.

In its government work report, China unveiled an around...

Prices and Statistics

29.03.2023

Commodities

Date: March 29, 2023; Source: Bloomberg.com
...

Date: March 29, 2023; Source: Bloomberg.com

29.03.2023

Exchange Rates

Date: March 29, 2023; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 455
1 EURO EUR / KZT 492.13
1 RUSSIAN ROUBLE RUB / KZT 5.94
1 CHINESE YUAN CNY / KZT 66.11
1 KYRGYZIAN SOM KGS / KZT 5.2
1 GREAT BRITAIN POUND GBP / KZT 559.29
1 CANADIAN DOLLAR CAD / KZT 332.58
1 AUSTRALIAN DOLLAR AUD / KZT 303.53
...

Date: March 29, 2023; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

455

1 EURO

EUR / KZT

492.13

1 RUSSIAN ROUBLE

RUB / KZT

5.94

1 CHINESE YUAN

CNY / KZT

66.11

1 KYRGYZIAN SOM

KGS / KZT

5.2

1 GREAT BRITAIN POUND

GBP / KZT

559.29

1 CANADIAN DOLLAR

CAD / KZT

332.58

1 AUSTRALIAN DOLLAR

AUD / KZT

303.53