Head of State Kassym-Jomart Tokayev held talks with President of Togolese Republic Faure Essozimna Gnassingbé, who arrived in Kazakhstan for an official visit. 

Kassym-Jomart Tokayev said greeting Faure Essozimna Gnassingbé that his historical visit to Kazakhstan marks a turning point in bilateral relations.

The Head of State said Kazakhstan is interested in...

Kazakh President Kassym-Jomart Tokayev congratulated President of Albania Bajram Begaj on Independence Day.

Albania has achieved significant success in the sphere of sustainable development, raising people’s welfare and strengthening its standing in the international arena, the telegram reads.

The Head of State wished Albania to advance on the path of steady growth...

Deputy Prime Minister – Minister of Foreign Affairs of the Republic of Kazakhstan Murat Nurtleu took part in the Second Conference of the States Parties to the Treaty on the Prohibition of Nuclear Weapons (TPNW).

Murat Nurtleu spoke at the high-level session of the conference and drew the attention of the...

In October, 21.6 billion tenge was sent from Kazakhstan to Turkiye through international money transfer systems (IMTS). This is almost 7% (1.3 billion tenge) more than in September, and also the maximum for 11 months, according to data from the National Bank of Kazakhstan. Turkiye found itself practically on the...

Every year, over 1 trillion tenge does not reach Kazakh businesses due to transactions on commodity exchanges. Prime Minister Alikhan Smailov stated this. According to him, there are 10 commodity exchanges in Kazakhstan that trade grain, oil products, coal and other goods.

"Great expectations were associated with them. However, commodity exchanges...

The government is living beyond its means, and Kazakhstanis will have to pay for it sooner or later. This opinion was voiced by expert Olzhas Baidildinov. In the conversation, he said that, despite the instructions of President Kassym-Jomart Tokayev to rationally spend the funds of the National Fund, there are...

Over the year, transfers from abroad to Kazakhstan have decreased significantly. According to the National Bank, in October of this year, Kazakhstan received 23.5 billion tenge from foreign countries, while for the same period in 2022 at 74.3 billion tenge. Thus, over the year the volume of remittances decreased by...

The national company Kazakhstan Engineering, which carries out the state defence order, wants to be exempted from transferring funds to the National Fund from the sale of three companies so that the company can pay off its internal debt. This is stated in the minutes of the meeting of the...

Financiers from the AFK (Association of Financiers of Kazakhstan) explained the strengthening of the tenge. Buyers of the national currency had an advantage at the opening of currency trading this week, despite the decline in oil prices and the risk appetite of global investors. At the end of trading on...

The Ministry of Internal Affairs proposed to prohibit foreigners from obtaining an IIN through the e-government portal. Instead, they will have to personally come to the public service centre at their place of residence and submit an application.

Changes to the order of the head of the Ministry of Internal Affairs...

The weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) on November 28, 2023 at 17:00 amounted to 459.05 tenge. Compared to the data at 17:00 on November 27 (459.33 tenge per 1 dollar), the national currency strengthened by 0.28 tenge against the dollar.

According to KASE information, the...

The U.S. dollar hit a three-month low against a basket of peers on Tuesday before steadying, as traders continued to unwind long dollar positions before this week's U.S. and euro zone inflation data.

The dollar index, a measure of the greenback against six major currencies, was last at 103.17, a whisker...

Oil production at Kazakhstan's largest fields fell by 56%, said Shyngys Ilyasov, adviser to the Minister of Energy of Kazakhstan.

“At the moment, at the country’s large fields, the decline in production is 56%,” Ilyasov told reporters on Tuesday.

The largest oil and gas fields in Kazakhstan are Tengiz, Kashagan, Karachaganak.

As reported...

Since the beginning of this year, as of November 24, the Caspian Pipeline Consortium (CPC) has shipped almost 57.5 million tonnes of oil for export, compared to 51 million tonnes on the same date a year earlier, CPC reported.

“The current volumes of oil transportation through the CPC system significantly exceed...

Kazakhstan gas pipeline operator KazTransOil reported consolidated financial results for the first nine months of 2023. The document was published on the website of the Kazakhstan Stock Exchange (KASE).

The company's consolidated revenue in January-September increased by 16.6% in annual terms, to 209.4 billion tenge. Consolidated net profit increased by 32.3%...

OPEC+ talks on oil policy are difficult, making a rollover a possibility rather than deeper production cuts to support the market, four OPEC+ sources said on Tuesday. The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia and Kazakhstan, known as OPEC+ or popularly GLOPEC, is currently...

Oil prices rose on Tuesday with the Brent benchmark rising above $80 a barrel, supported by expectations that the OPEC+ producer group may deepen and extend output cuts due to concern over softer global demand.

OPEC+, which combines the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, will...

A tin project is being implemented in the North Kazakhstan region for 150 billion tenge. This was reported to the regional administration.

Currently, the subsoil user has approved the documentation for the construction of the necessary infrastructure. Development of design and estimate documentation for the construction of a mining and metallurgical...

The management of the Kazakhmys Group of Companies decided to suspend mining and capital works at all underground mines of the corporation for inspection. This is due to the death of two workers at the Zhaisan mine.

“Internal emergency commission inspections have been created at the mines. The commissions are headed...

Gold rose for a fourth consecutive session on Tuesday and hit a more than six-month high, driven by a retreating dollar and expectations that the U.S. Federal Reserve has finished hiking interest rates.

Spot gold gained 0.8% to $2,030.49 per ounce by 10:50 a.m. ET (1550 GMT), highest since May 11.

U.S....

Dalian iron ore futures hit a one-week low on Tuesday as the Chinese government continued to monitor prices and intervene in the market to curb a price rally.

The most-traded January iron ore on China’s Dalian Commodity Exchange DCIOcv1 recorded its steepest decline in more than a month and fell 2.6%...

Copper prices edged higher on Tuesday on hopes that top metals consumer China will extend support measures for its economy while nickel rebounded from three-year lows.

Benchmark copper on the London Metal Exchange was up 0.1% at $8,374 a metric ton at 1200 GMT after falling by 0.8% on Monday from...

KEGOC provided positive financial results, recording double-digit growth rates in revenue and profit. The company's income continued to grow at a rate faster than cost, which had a positive impact on the company's business margins. In addition to rising tariffs and increasing operating indicators, the noticeable increase in KEGOC's profitability...

The Parliament of Kazakhstan will ratify an agreement with Russia, according to which Russia will cover the hourly shortage of electricity in the republic, according to documents accompanying the draft law.

“The main purpose of the agreement between the governments of Kazakhstan and Russia on measures to ensure parallel operation of...

The prosecutor's office of the Ulytau region protected the rights of the Chinese investor from the fiscal authorities, which paralyzed the activities of Mezgilder Qushteri. The company is building a wind farm in Kazakhstan worth 75 billion tenge, the press service of the supervisory authority reports.

According to the prosecutor's office,...

They are building a car production plant in Almaty, and also intend to organise the production of its components and accessories. The city administration provided details about the creation of the cluster.

The government agency reported that the impetus for its development was the launch of an automobile plant in 2020...

Based on the results of January–September of this year, trade turnover between Kazakhstan and Uzbekistan amounted to $3.3 billion, which is 4% less than a year earlier.The majority of trade turnover traditionally came from exports from Kazakhstan: $2.3 billion - 7% less than in the same period in 2022. At...

Exports to Mongolia in January-September 2023 decreased by 20%, to 13.3 thousand tonnes, compared to the same period in 2022. Kazakhstan earned $99.7 million from supplies.

The main volume of supplies fell on smartphones at 128.8 thousand units (-22.9%), diesel-electric locomotives at 4 units and monitors at 9.3 thousand units (+28...

Since the beginning of the year, trade turnover between Kazakhstan and China has increased by 24%. This was announced during negotiations between the Prime Minister of Kazakhstan Alikhan Smailov and the Deputy Prime Minister of the State Council of China Ding Xuexiang, who is in Astana on a working visit.

“Over...

According to the results of January-September 2023, Kazakhstan reduced imports of vegetables in many categories. For example, imports of white cabbage decreased by 57.6% to 38.6 thousand tonnes, carrots by 45.1% to 22 thousand tonnes, peppers by 36.9% to 17.6 thousand tonnes, garlic by 36.4% to 2.6 thousand tonnes, gourds...

The official meeting of the Minister of Agriculture of Kazakhstan Aidarbek Saparov with the Chairman of the General Administration of Customs of China, Yu Jianhua, took place on November 27, reports the press service of the Ministry of Agriculture of Kazakhstan.

At the meeting, issues of increasing the trade turnover of...

In early November, after negotiations with the Minister of Trade and Integration Arman Shakkaliev in Beijing, the General Administration of Customs of China expressed its readiness to purchase stone fruits from Kazakhstan. Now the Ministry of Agriculture of Kazakhstan has signed a corresponding Protocol with the State Technical University of...

The Ministry of Trade and Integration proposes to separate socially significant food products from the general list of exchange goods. Their trading will be carried out on special exchanges determined by the government on a competitive basis. Minister of Trade and Integration Arman Shakkaliev announced this during a government meeting.

"The...

Chicago wheat edged higher on Tuesday in a technical recovery from a day-earlier slide, with traders watching to see if recent price lows will stir export demand.

Corn also steadied after a sharp fall on Monday, with the market still capped by the arrival of a bumper U.S. harvest.

Soybeans rose as...

The volume of freight traffic along the Trans-Caspian International Transport Route (TITR, another name is the Middle Corridor) could triple by 2030, to 11 million tonnes, the World Bank predicts. The significance of the TITR, which runs through China, Kazakhstan, the Caspian Sea, Azerbaijan, Georgia, Turkiye and Europe, is only...

Kazakhstan plans to make changes to the list of narcotic drugs, psychotropic substances and precursors subject to control. The corresponding resolution of the Minister of Internal Affairs was published on the Open NLA portal.

As indicated in the comparative table, they want to add several items to the list of narcotic...

A transport and logistics hub (TLH) will be created in the Almaty region. Such plans were announced in the relevant department. According to the Ministry of Transport, together with the Kazakhstan Temir Zholy and the regional administration, the issue of the TLC project is being worked out, since the main...

Transport Minister Marat Karabaev told how 52 billion tenge allocated from the National Fund for the LRT project in Astana was spent. “Yes, at the beginning of this year, 52 billion tenge were allocated. Piling work for the construction of supports was completed by 96%. The construction of the supports...

In Kazakhstan, starting from 2024, there will be 1.2 thousand km more toll roads. According to Transport Minister Marat Karabaev, about 60 billion tenge is required annually to maintain the country’s highways.

“To reduce the burden on the budget, toll sections are being gradually introduced. To date, the toll system has...

For 10 months of 2023, the volume of cargo transhipment through the seaport of Kuryk exceeded 1.8 million tonnes, which is 15% higher than the same period last year, reports the press service of Kazakhstan Temir Zholy.

It is specified that over 1.2 million tonnes were delivered to the port by...

The event was organised by the Ministry of Commerce of China and the Zhejiang Provincial Government. The Kazakh delegation included representatives of the Ministry of Trade and Integration of Kazakhstan, the Embassy of Kazakhstan in the PRC and the Digital Kazakhstan Association.

More than 60 countries, international organisations, chambers of commerce...

The Russian stock market remained in the red zone on Tuesday. External factors have not changed significantly. There are no internal bright ideas either. By 14.20 Moscow time, the Moscow Exchange index was losing 0.77% to 3,166.57 points, the RTS index was in the red by 0.5% to 1,126.19 points.

The shares...

The overheated labour market, most economists are convinced, will become almost the main limitation to the accelerated economic growth of Russia in the foreseeable future. Analysts from the ACRA agency, having updated their medium-term macro forecast until 2026, note that low economic growth in the forecast period will be accompanied...

The noticeable November surge in inflation expectations, recorded by the Central Bank after their short-term stabilisation, appears to be no coincidence. The population from the middle class and workers to the poorest households is not only again interested in consumption, but also has or expects to receive the resources for...

The net profit of TransContainer (part of the Delo Group) according to IFRS in the third quarter of 2023 increased by 35% year-on-year, to 4.709 billion rouble, the company’s report says.

For 9 months, net profit amounted to 19.378 billion rouble, which is 1.7 times more than in January-September 2022.

The company's...

On December 4, the Moscow Exchange will launch new instruments on the foreign exchange market for the Chinese yuan/Russian rouble pair, which will allow participants to enter into transactions at the weighted average rate of the yuan and at currency fixing, according to a press release from the trading platform.

In...

China's yuan firmed slightly against the dollar on Tuesday, after the People's Bank of China (PBOC) emphasised its determination to keep the currency stable in a quarterly policy implementation report released a day earlier.

Addressing the exchange rate, the report said PBOC would "resolutely correct pro-cyclical market activities, deal with behaviors that disrupt...

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