The head of state signed the Law of the Republic of Kazakhstan on amnesty in connection with the thirtieth anniversary of Independence of the Republic of Kazakhstan, according to the press service of the President of the Republic of Kazakhstan.

According to the law, under some articles of the Criminal Code,...

More than 24% of the working population of Kazakhstan is self-employed. In 1991, the self-employed accounted for 4.2% of all workers in Kazakhstan. Until 1999, their share was growing and exceeded 45%. After this year, the indicator steadily declined until 2020, when the share was 23.4%.

And at the end of...

SMEs in Kazakhstan believe in improving their financial condition in 2022. According to a study by Kaspersky Lab, this year the overall financial well-being in 68% of SMEs has declined since March 2020. At the same time, 58% of the surveyed business representatives believe that the financial difficulties observed over...

704 cases of the coronavirus infection have been detected in the country in the past 24 hours as of Wednesday morning. The Karaganda region and Nur-Sultan city have logged the biggest triple-digit numbers of daily coronavirus infections with 129 and 122, respectively.

Out of the daily cases, the Pavlodar region has...

The 4th annual Kazakhstan Global Investment Roundtable kicked off in Nur-Sultan.

Addressing those gathered Kazakh Deputy PM – Foreign Minister Mukhtar Tileuberdi said that this year marks the 30th anniversary of independence of Kazakhstan. For the past three decades Kazakhstan achieved great economic success. Kazakhstan is the biggest economy in Central...

Deputy Chairman of the National Bank of the Republic of Kazakhstan Akylzhan Baimagambetov announced the GDP forecast in 2021.

“I'll start with economic activity. The dynamics are developing according to our optimistic scenario of the last forecast round, which assumed the price of Brent crude at $ 70 per barrel. Taking...

Total staff costs in Kazakh banks in the pandemic year decreased for only two of the 14 AQR participants. The average remuneration of non-top management employees at least did not change, but increased in most banks.

Contrary to initial expectations and pessimistic forecasts, the domestic banking sector, unlike many other industries,...

The pandemic and lockdowns have noticeably accelerated the trend, which has already been observed in recent years, of switching to a remote format of working, studying and receiving all possible services. Coronacrisis proved the importance of digitalisation and widespread technological transformation, which have turned from a desirable trend into a...

In Kazakhstan, CIT and VAT rates are low, and the budget requires additional sources of income to maintain stability. This opinion was voiced for the Ministry of National Economy. The department noted that now in Kazakhstan, budget expenditures are growing annually to fulfil socio-economic obligations.

"According to the International Monetary Fund,...

The National Bank kept the base rate at the level of 9.75% per annum with an interest rate corridor of +/– 1 pp. The rate on standing access operations to provide liquidity will be 10.75%, and on standing access operations to withdraw liquidity 8.75%.

"The Monetary Policy Committee of the National...

The National Bank told about the reasons for keeping the base rate at the level of 9.75%. Deputy Chairman of the Department Akylzhan Baimagambetov noted that slowdown and temporary stabilisation of stable components of inflation are observed in Kazakhstan.

"Cleared of seasonality, consumer price inflation in November of this year fell...

Kazakh Invest National Company JSC CEO Meirzhan Yussupov outlined the most promising sectors to invest.

«The key task, first of all, is to attract investments into priority economic sectors,» Yussupov told the 4th annual Kazakhstan Global Investment Roundtable kicked off in Nur-Sultan.

He also focused on creating conditions for investors.

Yussupov noted that...

How the KZT/USD rate will develop was assessed by the interviewed professional participants. General Director of AERC Beta Galymzhan Aitkazin (Telegram channel Tengenomika) noted that the decision of the National Bank to intervene was made to prevent speculative sentiment and destabilizing exchange rate surges. This was preceded by negative external...

The volume of investments in fixed assets of Almaty for 10 months of this year amounted to 873.7 billion tenge. This was reported in the Department of Entrepreneurship and Investment of the city.

As explained in the department, this is 8.8% of the total volume of investments in Kazakhstan. "Investments were...

As a result of trades at the Kazakhstan Stock Exchange (KASE) on Tuesday, the value of the KASE index increased by 1.44% from 3,615.49 to 3,667.66.

The volume of deals in shares included in the KASE index representative list decreased relative to the previous trading day by 27.4% and amounted to...

The weighted average dollar rate on the Kazakhstan Stock Exchange (KASE) on December 7, 2021 at 17:00 amounted to 434.61 tenge. According to the KASE, the minimum rate at the trades amounted to 434 tenge per dollar, the maximum to 436 tenge, the closing rate to 434.50 tenge.

The volume of...

Easing Omicron COVID-19 variant worries and a timely booster shot of Chinese stimulus helped lift riskier currencies on Tuesday with the Australian dollar leading the charge.

Global stock markets and oil gained, leaving traders to dump safe-haven currencies and bonds, as markets took confidence from reports in South Africa earlier in the week...

European shares extended gains at midday on Tuesday as investors continued to punt on the new Omicron variant of the coronavirus not being as severe as first thought.

The pan-European Stoxx 600 index was up 1.92% with all major regional bourses following suit. In Asia, Chinese property stocks rose after Beijing which cut...

Chevron will invest $2 billion to expand the Tengiz field in 2022. According to the corporation's report, in 2022 its capital investments in exploration and production will amount to about $8 billion, of which about $2 billion is associated with the future growth project the wellhead pressure management project at...

The UK decided to use old oil and gas wells as carbon dioxide dumps. Such an unexpected application for oil and gas facilities was found within the framework of a project of a consortium of energy companies and universities of the country, inbusiness.kz reports with reference to lenta.ru. The Net Zero Rise research...

This year, all regional centres in the Kyzylorda region have been supplied with gas, and there are seven of them. This year, work on gasification in the centres of the Karmakshy, the Zhalagash and the Syrdarya regions was completed, more than 46 thousand residents received access to natural gas.

In the...

Gazprom Neft is the 1st oil company in Russia to be awarded 2 of a new kind of upstream license - for developing technologies for prospecting for hard-to-recover reserves - at the same time. Technological test sites for evaluating domestic solutions are to be established at the Palyanovsky and Salymsky-3 license blocks in the Khanty-Mansi Autonomous...

Russian President Vladimir Putin has reportedly ordered the government to outline detailed proposals for the state-run energy giant Rosneft to supply up to 10 billion cubic meters of pipelined natural gas exports to Europe.

The proposals are set to be worked out in close cooperation with Rosneft management and rival energy...

Oil prices rose on Tuesday, extending the previous day's almost 5% rebound as concerns over the impact of the Omicron coronavirus variant on global fuel demand eased and Iran nuclear talks stalled, delaying the return of Iranian crude.

Brent crude futures were up $1.49, or 2%, at $74.57 a barrel by...

European and British wholesale gas prices rose on Tuesday morning with cooler temperatures and concerns over winter supply buoying the market.

The British day-ahead gas contract rose 16.30 pence to 2.417 pound per therm by 1047 GMT.

The Dutch day-ahead contract rose 8.13 euro to 95.70 euro per megawatt hour (MWh).

The benchmark...

Ariana Resources plc, the AIM-listed mineral exploration and development company with joint-venture (JV) gold mining operations in Europe, has announced the second investment of the Asgard Metals Fund (the fund and a wholly owned subsidiary of Ariana), which is being developed as part of its proprietary Project Catalyst Strategy.

Asgard Metals...

Gold prices were flat on Tuesday, as a firmer dollar and U.S. Treasury yields weighed on its appeal and confined the metal to a tight $4 range.

Spot gold was little changed at $1,778.79 per ounce by 0130 GMT. U.S. gold futures were flat at $1,780.00.

The dollar index steadied, hanging on...

Copper prices rose on Tuesday after China's central bank eased monetary policy and as imports into the world's top metals consumer climbed in November.

The People's Bank of China said on Monday it would cut the amount of cash that banks must hold in reserve, its second such move this year,...

A law on industrial policy is set to be adopted by the yearend in Kazakhstan, President Kassym-Jomart Tokayev said. “In my Address I set a task to increase manufacturing exports by 1.5-fold and labor productively by 30% by 2025. These are serious goals for achievement of which we have the...

In the Zhambyl region, it is planned to implement over 100 projects worth 2.7 trillion tenge. This was announced by the head of the region Berdibek Saparbayev. According to him, 107 investment projects with a total investment of 2.7 trillion tenge will be launched in the region by 2025. In...

In the Pavlodar region, they plan to establish a new production for 70 billion tenge. This was reported in the regional administration. The project will be implemented on the territory of Ekibastuz. In a single-industry town, at the expense of private investment, they want to build a complex for the...

In Shymkent, on the site of a pharmaceutical plant, they want to open a furniture production. This was reported in the regional administration. In the megalopolis, it was previously planned to launch a project for the production of medicines without the manufacture of substances for 5.9 billion tenge. However, the...

This year in Kazakhstan there is a rapid growth of furniture enterprises. Today, there are 1,491 small and medium-sized enterprises operating in the country. For 10 months, they produced products for 49.3 billion tenge, which in nominal terms is higher than the indicator of the corresponding period of 2020 by...

The agricultural sector is a strategically important sector of any state that forms food security. The COVID-19 pandemic has shown how important the agro-industrial complex is in the face of lockdown and border closures.

In Kazakhstan, the development of agriculture is given close attention. This is confirmed, among other things, by...

In the East Kazakhstan region, they plan to build a greenhouse for 12.8 billion tenge. This was reported in the regional administration. They want to implement a new project in Ridder. According to the information, it is currently at the design stage. It is expected that a greenhouse complex for...

Wheat stepped back for a third straight session overnight as traders position ahead of the U.S. Agriculture Department's monthly supply and demand report, which is due to be released on Thursday.

The USDA is expected to increase U.S. ending wheat stocks by 6,000 tonnes to 589,000 tonnes, according to a Reuters...

The production of passenger cars over 10 months of this year amounted to a record 61.8 thousand, 19% more than a year earlier.

In value terms, the production of vehicles, trailers and semi-trailers reached 556.9 billion tenge over 10 months, against 460.9 billion tenge in the same period last year. This...

Over 9M2021, the company's revenue and net income grew by 13% and 37% yoy, respectively, which is in line with our forecast expectations. The significant increase in net income was driven by faster income growth versus cost, an increase in other operating income, and compensation from Telia and Turkcell. We...

Now delivery of finished documents to the home has also become available in Taldykorgan, Petropavlovsk, Aktau and Aktobe. Residents of these cities can order documents for state registration of rights (encumbrances) to real estate, acts on land plots, apostilled documents on education, archival certificates, duplicates of military cards and other...

Economic Union in terms of customs regulation of cross-border electronic trade in goods. They are expected to come into force in the next two years. We are talking about goods purchased by consumers on foreign Internet sites and delivered to the customs territory of the countries of the economic union...

The volume of the National Wealth Fund as of December 1, 2021 amounted to 13.886 trillion rouble, or $185.2 billion, the Finance Ministry said. This is 12% of the projected Russian GDP in 2021. Over the month, the size of the fund decreased by 58.7 billion rouble.

Of this total, the...

The Russian rouble firmed on Tuesday ahead of a video call between Russian President Vladimir Putin and his U.S. counterpart Joe Biden later in the day, with the threat of new sanctions against Moscow lingering over the talks.

Biden will warn Putin of severe economic consequences should Russia go ahead with an invasion of Ukraine, a...

The Mainland China share market finished session mild higher on Tuesday, 07 December 2021, as investors sentiments lifted up on shining trade data and the central bank's decision to cut banks reserve requirement ratios (RRR). Also, market sentiments boosted up on easing concerns about the coronavirus Omicron variant after indications...

China's foreign exchange reserves unexpectedly rose in November, official data showed on Tuesday, even as the dollar posted a gain against a basket of major currencies.

The country's foreign exchange reserves - the world's largest - rose by $4.77 billion to $3.222 trillion last month, compared with $3.212 trillion forecast in...

China's foreign trade maintained growth momentum in the first 11 months of the year amid signs of global economic recovery and resilient demand.

During the Jan.-Nov. period, total imports and exports of the country expanded 22 percent year on year to 35.39 trillion yuan (5.55 trillion U.S. dollars), official data showed...

Date: December 08, 2021; Source: the National Bank of Kazakhstan