Issue 3807 - 23.09.2021
23.09.2021

Kazakh head of state addresses UN Assembly

President of Kazakhstan Kassym-Jomart Tokayev delivered his speech at the General Debates of the 76th session of the United Nations General Assembly themed «Building resilience through hope – to recover from COVID-19, rebuild sustainability, respond to the needs of the planet, respect the rights of people, and revitalize the United Nations» via video, including the following observations:

In the last year, the COVID-19 pandemic has exploded from 32 million to 225 million confirmed cases. We are deeply grateful to all health workers, scientists and vaccine makers who produced in a remarkably short time safe and effective vaccines. But the economic and social repercussions remain very difficult. Unemployment has risen sharply and hundreds of millions of people are losing their livelihoods. More than 130 million people are now living in extreme poverty.

Decades of development progress are being lost. In many ways, the pandemic has exposed our vulnerability and underscored the critical importance of multilateralism and international solidarity. We must build back a more equitable, sustainable, and humane world. We must begin with universal and fair access to vaccines. This matter must be resolved as a matter of global ethics and solidarity. The unjust vaccine gap is a gap multiplier. The IMF notes that the global economic recovery is not global because of the widening gap between advanced vaccinated economies and emerging or developing unvaccinated ones. The net effect will be to wipe out $4.5 trillion of cumulative global GDP by 2025. We must exponentially and urgently increase global access to vaccines.

Kazakhstan has successfully produced its own QazVac vaccine. Two more vaccines are in development. We stand ready to share them bilaterally or under the COVAX facility. The World Trade Organization is critical to ensuring supply chains for essential medical goods and equitable vaccine access. As the Chair of the 12th WTO Ministerial Conference this November, Kazakhstan calls on WTO Members to deliver a meaningful outcome on WTO’s response to the COVID-19 pandemic. We also need more focused cooperation between governments and the pharmaceutical industry on licenses, technology transfers and technical support. In the meantime, economic recovery is subject to many other known unknowns, including technology tensions. An «economic iron curtain» scenario, in which different technologies and rules split the global economy, is becoming more likely. Such a scenario would severely constrain those states who want to trade globally and secure tech-related supplies. Eager to avoid taking sides, they could be forced to form a Technological Non-Alignment Movement to mitigate risks at the intersection of technologies and geopolitics.

Carbon dioxide levels are at record highs. Wildfires, cyclones, floods and droughts have become the new normal, devastating populations and causing much preventable human suffering. As a large landlocked country, Kazakhstan’s climate is warming faster than the global average and threatening our population and economy. The median annual temperature has increased 2°C in the last 75 years with serious droughts now striking twice every five years.

In response, Kazakhstan intends to achieve carbon neutrality by 2060. We are launching a national 2050 low carbon development strategy next month to reduce GDP energy intensity by 50% from 2008 levels. Since almost 70% of Kazakhstan's electricity generation depends on coal, the energy transition presents significant challenges. Access to green financing and green technologies will be critical to this transition, and we look to the upcoming COP26 conference in Glasgow for clear commitment on these issues. Without ambitious green financing, ambitious climate action is empty. We also give great importance to the COP15 of the Convention on Biological Diversity in Kunming in October 2021.

Turning to Afghanistan, we endorse the UN Security Council’s call for the establishment, through negotiations, of a new Government that is inclusive and representative. A consensus-based system must be put in place where groups of different values, or ethnic, religious and gender background can coexist in the same country. In general, Kazakhstan envisions Afghanistan as a truly independent, sovereign nation living at peace with itself and its neighbors. Afghanistan must continue to adhere to its international obligations and ensure its territory is free of terrorists, drugs, and human traffickers.

Whatever our political affiliations or personal feelings, we must not abandon the people of Afghanistan now. The acute humanitarian situation should be our first priority. UN agencies and other humanitarian actors must have immediate, safe and unhindered humanitarian access. Kazakhstan has provided a temporary relocation for UNAMA and other UN offices for Afghanistan. We are ready to provide a logistical platform for humanitarian aid into Afghanistan, as well as to contribute our fair share. The Kazakh initiative to establish a UN Regional hub in Almaty can serve this crucial mission. We are ready to work closely with the UN, regional neighbors and interested states and organizations. The future stability of Afghanistan depends on economic development. Afghanistan is not a threat but an opportunity. If unified and stable, it can contribute to Central Asia’s development.

I turn to several other important UN issues, including the need to revitalize disarmament. Last month, on 29 August, we marked the 30th anniversary of the decision of our First President Mr. Nursultan Nazarbayev to close the Semipalatinsk nuclear test site and relinquish the fourth largest nuclear arsenal in the world. Kazakhstan again urges the nuclear-weapon States to commit themselves to the complete elimination of nuclear weapons by 2045, the Centennial of the United Nations. Similarly, there is more work to be done against existential biological threats. I proposed last year an International Agency for Biological Safety. This is a bold and ambitious idea, but we believe it is timely. Open and transparent dialogue with all stakeholders is ongoing.

Implementation of the 2030 Agenda and SDGs has suffered a considerable setback. Least Developed countries, Landlocked Developing Countries and Small Island Developing States – some 91 countries in total – are disproportionately affected by the pandemic given their limited means to respond to shocks and vulnerability to a debt crisis. As the Global Chair of the LLDCs, Kazakhstan appeals to all UN agencies to work together to deliver on the 2024 Roadmap for Accelerated Implementation of the Vienna Program of Action. The 2030 Agenda will remain unattainable until all countries have the financial capacity to invest in a sustainable and inclusive future. In this regard, we specifically call on all development partners to jointly address international liquidity and debt vulnerabilities.

The World Food Program estimates that 270 million people will face food shortages this year. Kazakhstan is a major grain producer and exporter and a founding member of the Islamic Organization for Food Security, whose fourth General Assembly was held last month in our capital. We invite foreign investors to join us in shaping a better, brighter future for sustainable agriculture.

Sustainable development depends not only on economic growth, but also on social and political development. At 30 years old, Kazakhstan is already a mature and accomplished nation. Over the last few years, we have started shifting from top-down nation-building – which proved extremely efficient during early statehood – to more bottom-up democracy-nurturing. We aim to consolidate our democratic commitment and promote wider citizen engagement in governance. For example, we have introduced direct election of rural mayors for the first time. This will place far more power and control in the hands of more than 40% of Kazakh citizens. We will do the same for district mayors in 2024.

In line with the concept of a state that listens and responds to its citizens, since 2019, my Administration has launched four blocks of essential democratic reforms to strengthen human rights, the rule of law, and anti-corruption. For example, I recently proposed applying the 30 percent quota for women and youth in electoral party lists to the final parliamentary composition. There is no room for complacency. Our goal is to further improve the efficiency of the state, transparency, and competitiveness of the political process.

Political reforms as well as economic reforms will have a dynamic follow-up. In January of this year, Kazakhstan ratified the Second Optional Protocol to the International Covenant on Civil and Political Rights, abolishing the death penalty. In June, the Government approved a Comprehensive Plan for Human Rights Protection, laying down a long-term institutional framework. In close collaboration with our international partners, we are working hard to eliminate human trafficking, which requires extraordinary global cooperation. We are a candidate for membership on the UN Human Rights Council for 2022 -2024. If elected, Kazakhstan will strive to make a real contribution to the Council. We also aim to advance the «democracy – religion – development nexus» during the seventh Congress of Leaders of World and Traditional Religions next April in Kazakhstan.

Turning to Central Asia, despite challenges to stability and security, we see a gradual strengthening of political and economic cooperation. Three Central Asian informal summits – the latest one held last month – are leading to a more cooperative and resilient region. Our regional policy aims to gradually replace the zero-sum politics and «might makes right» of the «Great Game» with genuine cooperation and a people-centered Great Gain in the Heart of Asia. This creates opportunities for greater global community engagement with Kazakhstan and Central Asia. We place great hope in the regional «C5+» dialogue frameworks with major extra-regional actors. In such partnerships, we emphasize Central Asia’s water-related challenges, including water scarcity, degrading quality and inefficient use. Our region’s water security is inextricably linked with energy, food and environment. Despite the diverging interests of riparian states, Kazakhstan remains committed to a regional water-and-hydropower consortium to coordinate different policies towards mutual goals.

Situated at the Eurasian crossroad of civilizations, Kazakhstan remains committed to its well-balanced, constructive foreign policy. We enjoy good relations with all our immediate neighbours, the Western countries, the EU, Asian and Middle Eastern states. This is the spirit of the Conference on Interaction and Confidence-Building Measures in Asia. Next year Kazakhstan, which chairs CICA, will host a summit to mark the 30th Anniversary of the Conference.

Our world is both interconnected and fragile. We desperately need a meaningful multilateralism that gives results to people and effective expression to global solidarity. We need far greater engagement and genuine cooperation from international organizations, financial institutions, civil society, business, local and regional authorities, all in service of the common good. Nothing else will secure our common future. No nation can succeed or prosper alone – there is no vaccine or wall for that. This moment presents a collective opportunity to change the world for the better.

Reported by Kazinform.

Kazakhstan General

23.09.2021

Kazakhstan’s daily COVID-19 case count stands at 2,693

Kazakhstan has reported 2,693 COVID-19 cases over the past day as of Thursday morning. Almaty city has reported the highest number of fresh daily COVID-19 cases with 549. The Karaganda region follows with 431 infections. The Almaty region comes third with 256 COVID-19 cases reported over the past day.

Triple-digit numbers...

Kazakhstan has reported 2,693 COVID-19 cases over the past day as of Thursday morning. Almaty city has reported the highest number of fresh daily COVID-19 cases with 549. The Karaganda region follows with 431 infections. The Almaty region comes third with 256 COVID-19 cases reported over the past day.

Triple-digit numbers...

23.09.2021

Kazakhstan explains reshuffle in Asia power play

If you thought China rising was a threat, try lumping it in with the massive, resource rich landmass north and west of Beijing– linking Russia, the former Soviet states of Central Asia, with the Asia Pacific manufacturing centers. These people are hungry for growth. They’re business savvy. They’re not debating...

If you thought China rising was a threat, try lumping it in with the massive, resource rich landmass north and west of Beijing– linking Russia, the former Soviet states of Central Asia, with the Asia Pacific manufacturing centers. These people are hungry for growth. They’re business savvy. They’re not debating...

23.09.2021

“C5 + 1” Ministerial Meeting

Within the framework of the 76th session of the UN General Assembly in New York, a “С5 + 1” Ministerial meeting was held with the participation of Deputy Prime Minister - Minister of Foreign Affairs of the Republic of Kazakhstan Mukhtar Tileuberdi, the US Secretary of State Antony Blinken, Foreign...

Within the framework of the 76th session of the UN General Assembly in New York, a “С5 + 1” Ministerial meeting was held with the participation of Deputy Prime Minister - Minister of Foreign Affairs of the Republic of Kazakhstan Mukhtar Tileuberdi, the US Secretary of State Antony Blinken, Foreign...

23.09.2021

Tens of thousands of Kazakhstanis leave country every year

Tens of thousands of Kazakhstanis are leaving the country. In the period from 2016 to 2020, the largest outflow of people was recorded in 2019 at more than 45.2 thousand, and the smallest in the pandemic 2020 at 29.1 thousand.

Russia became the new home for most emigrants. Germany holds the...

Tens of thousands of Kazakhstanis are leaving the country. In the period from 2016 to 2020, the largest outflow of people was recorded in 2019 at more than 45.2 thousand, and the smallest in the pandemic 2020 at 29.1 thousand.

Russia became the new home for most emigrants. Germany holds the...

23.09.2021

Regional breakdown: Kazakhstan compiles rating of regions by lowest prices for utilities

Expenses of Kazakhstani families for utilities, housing maintenance and repairs in the second quarter of this year reached an average of 34.5 thousand tenge per household. This is 17.6% more in monetary terms than a year earlier, 36.3% more than 5 years ago, and 84% more than a decade earlier.

In...

Expenses of Kazakhstani families for utilities, housing maintenance and repairs in the second quarter of this year reached an average of 34.5 thousand tenge per household. This is 17.6% more in monetary terms than a year earlier, 36.3% more than 5 years ago, and 84% more than a decade earlier.

In...

23.09.2021

239 new professions may appear in Kazakhstan by 2040

According to the Ministry of Labour and Social Protection of the Population, new professions will appear in such industries as oil and gas, mining, agriculture, transport and logistics, mechanical engineering, information and communication technologies, energy, tourism, construction.

Including, by 2026, a 3D printing master, a big data architect, a digital technologist,...

According to the Ministry of Labour and Social Protection of the Population, new professions will appear in such industries as oil and gas, mining, agriculture, transport and logistics, mechanical engineering, information and communication technologies, energy, tourism, construction.

Including, by 2026, a 3D printing master, a big data architect, a digital technologist,...

23.09.2021

428 COVID-19 patients receive hospital treatment in Kazakh leading oil province

28 patients are under coronavirus treatment at hospitals in Kazakhstan’s oil-rich northwesternmost Atyrau region. As the press service of the health office of Atyrau region stated in a statement, 428 COVID-19 patients are receiving hospital treatment in the region. The number of patients in intensive care units stands at 33,...

28 patients are under coronavirus treatment at hospitals in Kazakhstan’s oil-rich northwesternmost Atyrau region. As the press service of the health office of Atyrau region stated in a statement, 428 COVID-19 patients are receiving hospital treatment in the region. The number of patients in intensive care units stands at 33,...

Finance and Investment

23.09.2021

Kazakh Head of State meets with EBRD President Odile Renaud-Basso

Kazakh Head of State Kassym-Jomart Tokayev has held a meeting with President of the European Bank for Reconstruction and Development Odile Renaud-Basso.

The meeting focused on the results of the Bank’s activities in Kazakhstan and its priorities for further cooperation. Welcoming Ms. Odile Renaud-Basso, the Kazakh President noted that both had...

Kazakh Head of State Kassym-Jomart Tokayev has held a meeting with President of the European Bank for Reconstruction and Development Odile Renaud-Basso.

The meeting focused on the results of the Bank’s activities in Kazakhstan and its priorities for further cooperation. Welcoming Ms. Odile Renaud-Basso, the Kazakh President noted that both had...

23.09.2021

Kazakhstan notes increase in quality of retail loan portfolio

The quality of retail lending in Kazakhstan is steadily improving. Overdue loans in the segment of loans to individuals decreased over the year by 12.3%, to 305.7 billion tenge in the first half of 2021, in the segment of direct consumer loans by 12.2%, to 199 billion tenge.

As a result,...

The quality of retail lending in Kazakhstan is steadily improving. Overdue loans in the segment of loans to individuals decreased over the year by 12.3%, to 305.7 billion tenge in the first half of 2021, in the segment of direct consumer loans by 12.2%, to 199 billion tenge.

As a result,...

23.09.2021

Gross profit of Kazakhstani national companies grows by 52%

For the second quarter of 2021, national companies of Kazakhstan received a gross profit of 146 billion tenge. This is 52% more than in the first quarter, when it was 96 billion tenge.

According to the National Statistics Bureau of Kazakhstan, the total income from the sale of services for April-June...

For the second quarter of 2021, national companies of Kazakhstan received a gross profit of 146 billion tenge. This is 52% more than in the first quarter, when it was 96 billion tenge.

According to the National Statistics Bureau of Kazakhstan, the total income from the sale of services for April-June...

23.09.2021

Asian Development Bank improves Kazakhstan economic growth forecast for 2021 to 3.4%

The Asian Development Bank has lowered its economic growth forecast for developing countries in Asia for 2021 amid lingering concerns over the COVID-19 pandemic, the ADB press office said.

ADB projects growth of 7.1% this year, according to the updated Asia Development Outlook (ADO) 2021, the bank's leading economic publication. For...

The Asian Development Bank has lowered its economic growth forecast for developing countries in Asia for 2021 amid lingering concerns over the COVID-19 pandemic, the ADB press office said.

ADB projects growth of 7.1% this year, according to the updated Asia Development Outlook (ADO) 2021, the bank's leading economic publication. For...

23.09.2021

Bank CenterCredit comments on situation with housing of Almaty shooter

Bank CenterCredit has clarified the details related to the debtor, who opened fire on bailiffs in Almaty. The financial structure clarified that in July 2011 the borrower Nano Plus was provided with two loans for a total of 102 million tenge with a delay in payment of the principal and...

Bank CenterCredit has clarified the details related to the debtor, who opened fire on bailiffs in Almaty. The financial structure clarified that in July 2011 the borrower Nano Plus was provided with two loans for a total of 102 million tenge with a delay in payment of the principal and...

23.09.2021

Nurbank expects changes

The chairman of the board will be replaced in Nurbank in the near future. By the resolution of the ARDFM board, the issuance of consent to Eldar Sarsenov to acquire the status of a large (indirect) participant in Nurbank was approved, which allows him to acquire a 100% stake in...

The chairman of the board will be replaced in Nurbank in the near future. By the resolution of the ARDFM board, the issuance of consent to Eldar Sarsenov to acquire the status of a large (indirect) participant in Nurbank was approved, which allows him to acquire a 100% stake in...

23.09.2021

Kazakhstan demands to return to bill on bankruptcy of individuals after tragedy in Almaty

Kazakhstan demanded to urgently develop a bill on the bankruptcy of individuals. MP Andrey Linnik recalled the tragedy in Almaty, when five people died due to property disputes.

"In this regard, we demand from the Agency for Regulation and Development of the Financial Market to urgently work out the issues of...

Kazakhstan demanded to urgently develop a bill on the bankruptcy of individuals. MP Andrey Linnik recalled the tragedy in Almaty, when five people died due to property disputes.

"In this regard, we demand from the Agency for Regulation and Development of the Financial Market to urgently work out the issues of...

23.09.2021

Eurasian Development Bank places green bonds for KZT20bln

The Eurasian Development Bank (EDB) has placed an issue of three-year green bonds in tenge in the amount of 20 billion at a coupon rate of 10.5% per annum. Listing took place on the Kazakhstan Stock Exchange.

The bank explained that this issue is fully consistent with the principles of green...

The Eurasian Development Bank (EDB) has placed an issue of three-year green bonds in tenge in the amount of 20 billion at a coupon rate of 10.5% per annum. Listing took place on the Kazakhstan Stock Exchange.

The bank explained that this issue is fully consistent with the principles of green...

23.09.2021

Weighted average dollar rate at Kazakhstan Stock Exchange amounts to KZT425.73

The weighted average dollar rate on the Kazakhstan Stock Exchange on September 22, 2021 at 17:00 amounted to 425.73 tenge. According to KASE information, the minimum rate at the trades amounted to 425.5 tenge per dollar, the maximum to 425.95 tenge, the closing rate to 425.6 tenge.

The volume of trades in the...

The weighted average dollar rate on the Kazakhstan Stock Exchange on September 22, 2021 at 17:00 amounted to 425.73 tenge. According to KASE information, the minimum rate at the trades amounted to 425.5 tenge per dollar, the maximum to 425.95 tenge, the closing rate to 425.6 tenge.

The volume of trades in the...

23.09.2021

Rival currencies prevail over greenback after China crash averted

The U.S. dollar slipped ahead of a policy announcement by the FederalReserve on Wednesday, while risk-sensitive currencies such as the Australian dollar and Chinese yuan strengthened after China's Evergrande said it would make a bond coupon payment.

Property giant and Asia's biggest junk bond issuer Evergrande said it "resolved" one payment...

The U.S. dollar slipped ahead of a policy announcement by the FederalReserve on Wednesday, while risk-sensitive currencies such as the Australian dollar and Chinese yuan strengthened after China's Evergrande said it would make a bond coupon payment.

Property giant and Asia's biggest junk bond issuer Evergrande said it "resolved" one payment...

23.09.2021

Bulls regain prevalence over stock markets as Evergrande gets in the clear

European stocks closed in bullish mood on Wednesday ahead worries over Asian property developer China Evergrande abated slightly and investors turned their attention to the latest policy announcement from the US Federal Reserve due later in the day.

The pan-European STOXX 600 closed 0.99% higher. Investors are waiting on comments later today from...

European stocks closed in bullish mood on Wednesday ahead worries over Asian property developer China Evergrande abated slightly and investors turned their attention to the latest policy announcement from the US Federal Reserve due later in the day.

The pan-European STOXX 600 closed 0.99% higher. Investors are waiting on comments later today from...

Oil and Gas Sector

23.09.2021

Commodity sector accounts for 90% of Kazakhstan’s foreign investment portfolio

Over the past 16 years, Kazakhstan has been a net borrower of foreign capital. During this period, net capital inflow into the economy amounted to $26.5 billion, mainly due to foreign portfolio investment. This is stated in the report of the National Bank on the analysis of flows in the...

Over the past 16 years, Kazakhstan has been a net borrower of foreign capital. During this period, net capital inflow into the economy amounted to $26.5 billion, mainly due to foreign portfolio investment. This is stated in the report of the National Bank on the analysis of flows in the...

23.09.2021

Oil price in Kazakhstan more than doubles over 5 years

The cost of oil on the domestic market of Kazakhstan has more than doubled in five years. According to the Bureau of National Statistics, in August 2021, 1 tonne of crude oil was sold by producers at 71 thousand tenge. This is 2.1 times more than in August 2016, when...

The cost of oil on the domestic market of Kazakhstan has more than doubled in five years. According to the Bureau of National Statistics, in August 2021, 1 tonne of crude oil was sold by producers at 71 thousand tenge. This is 2.1 times more than in August 2016, when...

23.09.2021

Uralelectromed supplies its products to one of largest international oil engineering companies

Uralelectromed, an enterprise of the metallurgical complex of UMMC, supplied bronze bearings to a company engaged in the manufacture of submersible pumps.

The workshop for the production of powder products of Uralelectromed managed to master a new type of product within the established time frame. A pilot batch of 5,000 pieces...

Uralelectromed, an enterprise of the metallurgical complex of UMMC, supplied bronze bearings to a company engaged in the manufacture of submersible pumps.

The workshop for the production of powder products of Uralelectromed managed to master a new type of product within the established time frame. A pilot batch of 5,000 pieces...

23.09.2021

Brent continues to strengthen on US reserve drain

Oil prices climbed more than 1% on Wednesday, extending overnight gains after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves.

U.S. West Texas Intermediate (WTI) crude futures rose 89 cents, or 1.3%, to $71.38 a barrel...

Oil prices climbed more than 1% on Wednesday, extending overnight gains after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves.

U.S. West Texas Intermediate (WTI) crude futures rose 89 cents, or 1.3%, to $71.38 a barrel...

23.09.2021

High winds bring North Sea region’s Ntural gas prices down

British and European wholesale gas prices fell on Wednesday morning as expectations of higher output from wind farms curbed power plant demand for gas.

The British within-day gas contract was down 7.00 pence at 173.00 p/therm by 0935 GMT.

The British day-ahead contract was down 7.50 pence at 175.00 p/therm.

Peak wind power...

British and European wholesale gas prices fell on Wednesday morning as expectations of higher output from wind farms curbed power plant demand for gas.

The British within-day gas contract was down 7.00 pence at 173.00 p/therm by 0935 GMT.

The British day-ahead contract was down 7.50 pence at 175.00 p/therm.

Peak wind power...

Metals and Minerals

23.09.2021

Magnitogorsk Metallurgy Combine presents high-strength steel for metalworking

Magnitogorsk Metallurgy Combine takes part in the 19th international exhibition-forum "Industrial Salon. Metalworking", held in Samara.

The event will take place from 22 to 24 September 2021. The topic of this large diversified exhibition project of the Volga region covers such areas as machine tool construction, metalworking equipment, materials for metalworking;...

Magnitogorsk Metallurgy Combine takes part in the 19th international exhibition-forum "Industrial Salon. Metalworking", held in Samara.

The event will take place from 22 to 24 September 2021. The topic of this large diversified exhibition project of the Volga region covers such areas as machine tool construction, metalworking equipment, materials for metalworking;...

23.09.2021

Bullion consolidates as other precious metals appreciate

Gold prices steadied on Wednesday as investors braced for the outcome of a U.S. Federal Reserve meeting and chief Jerome Powell’s remarks on reducing its massive support for the pandemic-hit economy.

Spot gold was little changed at $1,773.81 per ounce by 1110 GMT, while U.S. gold futures fell 0.2% to $1,774.90.

“The...

Gold prices steadied on Wednesday as investors braced for the outcome of a U.S. Federal Reserve meeting and chief Jerome Powell’s remarks on reducing its massive support for the pandemic-hit economy.

Spot gold was little changed at $1,773.81 per ounce by 1110 GMT, while U.S. gold futures fell 0.2% to $1,774.90.

“The...

23.09.2021

Copper leads base metal price surge on China relief

Copper prices shot up 3% on Wednesday on relief that China’s debt-burdened Evergrande would pay interest on a domestic bond, easing fears that the property giant’s troubles might hit the global economy.

Three-month copper on the London Metal Exchange had climbed 3.3% to $9,267 a tonne by 1430 GMT, reversing losses...

Copper prices shot up 3% on Wednesday on relief that China’s debt-burdened Evergrande would pay interest on a domestic bond, easing fears that the property giant’s troubles might hit the global economy.

Three-month copper on the London Metal Exchange had climbed 3.3% to $9,267 a tonne by 1430 GMT, reversing losses...

Manufacturing industry

23.09.2021

Mechanical engineering of Kazakhstan waits for billions of investments

Projects worth $1 billion in the field of mechanical engineering will be implemented in Kazakhstan in the next five years. This was announced by the Vice Minister of Industry and Infrastructure Development Marat Karabaev. Speaking at the Forum of Mechanical Engineers, he noted that this year it is planned to...

Projects worth $1 billion in the field of mechanical engineering will be implemented in Kazakhstan in the next five years. This was announced by the Vice Minister of Industry and Infrastructure Development Marat Karabaev. Speaking at the Forum of Mechanical Engineers, he noted that this year it is planned to...

23.09.2021

Projects in Kazakhstan receive almost 100 billion tenge of investments

Investors will invest almost 100 billion tenge in 10 large projects in the North Kazakhstan region. This was reported in the regional administration. New facilities will appear in 2021-2025 in the field of the agro-industrial complex. The total investment is 99.9 billion tenge. They plan to employ 1.1 thousand people.

The...

Investors will invest almost 100 billion tenge in 10 large projects in the North Kazakhstan region. This was reported in the regional administration. New facilities will appear in 2021-2025 in the field of the agro-industrial complex. The total investment is 99.9 billion tenge. They plan to employ 1.1 thousand people.

The...

23.09.2021

Nur-Sultan implements 10 projects for billions

Production facilities worth 35.4 billion tenge will be opened in Nur-Sultan. Among them a meat processing plant and greenhouses. This was reported in the administration of the capital. In response to the request, it was clarified that 10 projects will be implemented by 2024 in the agro-industrial complex.

In particular, a...

Production facilities worth 35.4 billion tenge will be opened in Nur-Sultan. Among them a meat processing plant and greenhouses. This was reported in the administration of the capital. In response to the request, it was clarified that 10 projects will be implemented by 2024 in the agro-industrial complex.

In particular, a...

23.09.2021

14 new factories launched in Karaganda region this year

Governor of the Karaganda region Zhenis Kasymbek reported to the Public Council of the region, the press service of the regional administration reports.

According to the governor, over 8 months, steady growth is shown: trade by 8.9%; the volume of housing commissioned by 19.9%; agriculture by 3.6%. The growth in industry...

Governor of the Karaganda region Zhenis Kasymbek reported to the Public Council of the region, the press service of the regional administration reports.

According to the governor, over 8 months, steady growth is shown: trade by 8.9%; the volume of housing commissioned by 19.9%; agriculture by 3.6%. The growth in industry...

Trade and Consumer Goods

23.09.2021

Kazakhstan increases volume of international trade

In January-July 2021, Kazakhstan's trade turnover reached $53.7 billion, which is 7.4% more than a year earlier.

Exports accounted for most of the trade turnover at 59.7%. Since the beginning of this year, Kazakhstan has supplied products worth 32 billion US dollar to foreign markets, which is 10.6% more than in...

In January-July 2021, Kazakhstan's trade turnover reached $53.7 billion, which is 7.4% more than a year earlier.

Exports accounted for most of the trade turnover at 59.7%. Since the beginning of this year, Kazakhstan has supplied products worth 32 billion US dollar to foreign markets, which is 10.6% more than in...

23.09.2021

Thai Prime Minister wants Eurasian Economic Union Free Trade Agreement concluded

Thailand hopes to conclude a free trade zone agreement with the Eurasian Economic Union (EAEU), the country’s Prime Minister Prayut Chan-o-cha said during his speech at the recent Far Eastern Economic Forum at the beginning of September.

“We hope that we will be able to conclude a number of free trade...

Thailand hopes to conclude a free trade zone agreement with the Eurasian Economic Union (EAEU), the country’s Prime Minister Prayut Chan-o-cha said during his speech at the recent Far Eastern Economic Forum at the beginning of September.

“We hope that we will be able to conclude a number of free trade...

Agriculture

23.09.2021

Harvesting campaign in Kazakhstan 95% complete

The harvesting campaign in Kazakhstan is nearing completion. As of September 21, about 95% of the harvesting works have been completed. This was announced at a meeting of the Government chaired by the Prime Minister of Kazakhstan Askar Mamin, at which the progress of harvesting work in the current year...

The harvesting campaign in Kazakhstan is nearing completion. As of September 21, about 95% of the harvesting works have been completed. This was announced at a meeting of the Government chaired by the Prime Minister of Kazakhstan Askar Mamin, at which the progress of harvesting work in the current year...

23.09.2021

Quality of Kazakh wheat sizably higher this year

Quality of Kazakh wheat of the harvest-2021 is sizably higher compared to the last year, declared the Prime Minister Askar Mamin, informed the governmental press-service.

“The quality of new-crop wheat is significantly higher. The volume of Hi-Pro wheat with gluten content exceeding 28% amounted to 74% (60% in 2020)...

Quality of Kazakh wheat of the harvest-2021 is sizably higher compared to the last year, declared the Prime Minister Askar Mamin, informed the governmental press-service.

“The quality of new-crop wheat is significantly higher. The volume of Hi-Pro wheat with gluten content exceeding 28% amounted to 74% (60% in 2020) in the overall...

23.09.2021

Kazakh farmers lose profit by supplying grain to Food Contract Corporation

News from the Minister of Agriculture arrived this morning. He asked the governors to ensure the supply of grain to the Food Contract Corporation from farmers under forward contracts. Agricultural producers say that they lose 20-25 thousand tenge from each tonne of grain. In addition, handing over grain to the...

News from the Minister of Agriculture arrived this morning. He asked the governors to ensure the supply of grain to the Food Contract Corporation from farmers under forward contracts. Agricultural producers say that they lose 20-25 thousand tenge from each tonne of grain. In addition, handing over grain to the...

23.09.2021

US wheat, maize contracts crawl out of slumps

Chicago corn futures edged higher on Wednesday, steadying after a one-week low in the previous session as the market assessed mixed reports from an advancing U.S. harvest and sought a clearer picture of export prospects.

Wheat tracked corn higher to also recover from a one-week low, with support from brisk importer...

Chicago corn futures edged higher on Wednesday, steadying after a one-week low in the previous session as the market assessed mixed reports from an advancing U.S. harvest and sought a clearer picture of export prospects.

Wheat tracked corn higher to also recover from a one-week low, with support from brisk importer...

Communications and Transportation

23.09.2021

KazTransCom changes its name to Jusan Mobile

The meeting of KazTransCom shareholders decided to change the name of the company to Jusan Mobile. This became known from a message published on the website of the Kazakhstan Stock Exchange.

The minutes of the decision of the general meeting of shareholders was dated September 13, 2021. It refers to the...

The meeting of KazTransCom shareholders decided to change the name of the company to Jusan Mobile. This became known from a message published on the website of the Kazakhstan Stock Exchange.

The minutes of the decision of the general meeting of shareholders was dated September 13, 2021. It refers to the...

23.09.2021

Kazakhstan resumes and opens regular international flights to 16 countries

Starting from September 21, it is allowed to increase, resume and open regular international flights to 16 countries with a frequency of 114 flights per week from each side. This decision was made by the Interdepartmental Commission to Prevent the Emergence and Spread of Coronavirus Infection in Kazakhstan. This was...

Starting from September 21, it is allowed to increase, resume and open regular international flights to 16 countries with a frequency of 114 flights per week from each side. This decision was made by the Interdepartmental Commission to Prevent the Emergence and Spread of Coronavirus Infection in Kazakhstan. This was...

23.09.2021

Online work brings potential business risks

With the transition to remote mode, the structure of work has changed significantly. Employees of companies had to rebuild and create a workspace at home so that nothing distracted from completing tasks, but at the same time there was time for communication with loved ones.

Of course, the pandemic has made...

With the transition to remote mode, the structure of work has changed significantly. Employees of companies had to rebuild and create a workspace at home so that nothing distracted from completing tasks, but at the same time there was time for communication with loved ones.

Of course, the pandemic has made...

23.09.2021

Pre-orders of new Galaxy Z products in Kazakhstan exceed expectations

Having presented the third generation of foldable mobile devices Galaxy Z Fold3 and Galaxy Z Flip3 in August, Samsung Electronics announced the pre-order of new products in Kazakhstan. The volume of orders turned out to be significantly higher than expected, as a result of which there was a temporary shortage...

Having presented the third generation of foldable mobile devices Galaxy Z Fold3 and Galaxy Z Flip3 in August, Samsung Electronics announced the pre-order of new products in Kazakhstan. The volume of orders turned out to be significantly higher than expected, as a result of which there was a temporary shortage...

Regional News

23.09.2021

Russian national debt service cost on the rise

Rates on 20-year OFZ bonds on the Russian debt market have renewed their five-month high. Ten-year securities rolled back to the values of two months ago. Investors are reducing interest in many asset classes against the background of increased risks of defaults in the world, not the least of which...

Rates on 20-year OFZ bonds on the Russian debt market have renewed their five-month high. Ten-year securities rolled back to the values of two months ago. Investors are reducing interest in many asset classes against the background of increased risks of defaults in the world, not the least of which...

23.09.2021

Russia to expand overseas trade, economic development

Russia’s Economic Development Ministry will have representatives in 52 countries from October 1, 2021. The decree to that effect signed by President Vladimir Putin was published on the official portal of legal information on Tuesday.

“In order to ensure the interests of the Russian Federation in the foreign economic space, I...

Russia’s Economic Development Ministry will have representatives in 52 countries from October 1, 2021. The decree to that effect signed by President Vladimir Putin was published on the official portal of legal information on Tuesday.

“In order to ensure the interests of the Russian Federation in the foreign economic space, I...

23.09.2021

Russian stocks, rouble rally on strong oil prices

The Russian rouble firmed on Wednesday ahead of a treasury bond auction, helped by oil prices rebounding above $75 per barrel amid caution ahead of the U.S. Federal Reserve's looming policy decision.

At 0719 GMT, the rouble was 0.3% stronger against the dollar at 72.86 and had gained 0.2% to trade...

The Russian rouble firmed on Wednesday ahead of a treasury bond auction, helped by oil prices rebounding above $75 per barrel amid caution ahead of the U.S. Federal Reserve's looming policy decision.

At 0719 GMT, the rouble was 0.3% stronger against the dollar at 72.86 and had gained 0.2% to trade...

23.09.2021

China equity down amidst mixed sector trends

Chinese stocks fell on Wednesday, led by banking and consumer staples, while real estate shares jumped after developer China Evergrande assured to make bond interest payment.

The CSI300 index fell 1.1% to 4,801.94 by the end of the morning session, while the Shanghai Composite Index lost 0.3% to 3,603.41.

China Evergrande Group’s...

Chinese stocks fell on Wednesday, led by banking and consumer staples, while real estate shares jumped after developer China Evergrande assured to make bond interest payment.

The CSI300 index fell 1.1% to 4,801.94 by the end of the morning session, while the Shanghai Composite Index lost 0.3% to 3,603.41.

China Evergrande Group’s...

23.09.2021

State refiners, private chemical giants to bid in China reserve auction

Top state refiners Sinopec Corp, PetroChina and leading private chemical giants like Hengli Petrochemical 600346.SS and Zhejiang Petrochemical Corp are set to join the country's first state oil reserve auction on Friday, company and trading sources said.

China, the world's second-largest oil consumer, is set to auction for the first time state crude...

Top state refiners Sinopec Corp, PetroChina and leading private chemical giants like Hengli Petrochemical 600346.SS and Zhejiang Petrochemical Corp are set to join the country's first state oil reserve auction on Friday, company and trading sources said.

China, the world's second-largest oil consumer, is set to auction for the first time state crude...

Prices and Statistics

23.09.2021

Commodities

Date: September 23, 2021; Source: Bloomberg.com

...

Date: September 23, 2021; Source: Bloomberg.com

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23.09.2021

Exchange Rates

Date: September 23, 2021; Source: the National Bank of Kazakhstan
1 US DOLLAR USD / KZT 425.75
1 EURO EUR / KZT 499.32
1 RUSSIAN ROUBLE RUB / KZT 5.85
1 CHINESE YUAN CNY / KZT 65.88
1 KYRGYZIAN SOM KGS / KZT 5.02
1 GREAT BRITAIN POUND GBP / KZT 580.47
1 CANADIAN DOLLAR CAD / KZT 332.9
1 AUSTRALIAN DOLLAR AUD / KZT 308.5
...

Date: September 23, 2021; Source: the National Bank of Kazakhstan

1 US DOLLAR

USD / KZT

425.75

1 EURO

EUR / KZT

499.32

1 RUSSIAN ROUBLE

RUB / KZT

5.85

1 CHINESE YUAN

CNY / KZT

65.88

1 KYRGYZIAN SOM

KGS / KZT

5.02

1 GREAT BRITAIN POUND

GBP / KZT

580.47

1 CANADIAN DOLLAR

CAD / KZT

332.9

1 AUSTRALIAN DOLLAR

AUD / KZT

308.5