A hydrocarbon field comparable in scale to the Kashagan oil field could be discovered at significant depths on the Zhylyoi platform, according to Kurmangazy Iskaziyev, first deputy CEO of KazMunayGas (KMG), Kazakhstan’s national oil and gas company. Exploration is expected to target depths of between 5 and 9 kilometers. Large-scale…
Croatia will take part in the exploration and production of hydrocarbons at the Shygys site in the Aktobe region, western Kazakhstan, the Ministry of Energy reported. The contract was signed by the ministry, KazMunayGas and Geoenergija Razvoj d.o.o — a subsidiary of the Croatian Hydrocarbon Agency — during the Geoscience…
According to Kazakhstan’s Ministry of Trade, Chinese company Fujian Hengwang Investment plans to build a large steel plant in the country. The announcement followed a visit to China by Minister of Trade and Integration Arman Shakkaliyev. The company is ready to invest about $1.2 billion in the project, with a…
The Asian Development Bank (ADB) has approved a loan of 90 billion tenge (about $173.6 million) to Kazakhstan’s Otbasy Bank to expand access to mortgages, particularly for women, and to support environmentally friendly housing finance. The funding is part of the «Promoting Inclusive and Green Housing Finance» project. Read also:…
Kazakhstan’s National Bank will consider lowering its base rate once inflation shows a sustained decline both month over month and year over year, and if forecasts are met, Governor Timur Suleimenov said. He noted that in the second quarter, the economy is expected to continue adjusting to the new Tax…
Just over a quarter of online shoppers in Kazakhstan still pay cash on delivery, with that share rising to 57.5% in Astana. At the same time, about half of all e-commerce transactions in the country fall in the range of 25,000 to 100,000 tenge (roughly $50 to $200). Kursiv.media analyzed…
Kazakhstan’s business activity deteriorated in March 2026, with the Freedom Holding Corp. Manufacturing PMI falling to 47.4, reflecting a solid weakening in the manufacturing sector’s health, the most pronounced since 2022. The rate was down from 48.1 in February and remained below the 50.0 no-change mark for a third consecutive…
As of Jan. 1, 2026, Kazakhstan’s external debt stood at $181.8 billion, up $17.2 billion from 2025, according to data from the National Bank of Kazakhstan. At the same time, the increase over the last quarter amounted to $10.4 billion. The regulator attributed the increase in external debt to a…
Samruk-Kazyna plans to cut 11% of its administrative and management staff in Astana, aiming to save about 5 billion tenge (roughly $10.5 million) in salary costs starting in 2026, the fund told Interfax-Kazakhstan. Read also: A house divided: Kazakhstan’s government at odds with its own wealth fund reform. The reduction…
KazMunayGas (KMG), Kazakhstan’s national oil and gas company, is advancing 22 exploration projects with a combined resource base of 4.7 billion tons of hydrocarbons, CEO Askhat Khassenov said. Read also: How $100 oil could pay for Kazakhstan’s nuclear future. Khassenov said the company is pursuing a strategy focused on deep…
Four-legged robots, often called quadrupeds, are gaining traction among AI companies. These robotic «dogs» are now being deployed to guard and patrol sprawling data centers across the U.S., according to a Fortune report. Growing demand for robotic security Tech firms are investing heavily in artificial intelligence infrastructure, with spending approaching…
Japan’s INPEX has signaled its readiness to redirect part of its oil production in Central Asia to the domestic market, according to Yomiuri Shimbun. Focus on Kazakhstan and Azerbaijan assets INPEX holds stakes in the Kashagan oil field and the Azeri-Chirag-Gunashli oil fields. Until now, oil from these projects has…
Profits at microfinance organizations (MFOs) in Kazakhstan fell by nearly half in 2025, while the volume of loans overdue by more than 30 days rose by more than a quarter. Read also: Kazakh banks face 2025 profit dip amid tax and reserve hikes. The sector has grown to a scale…
Kazakhstan emerged as one of the largest buyers of Russian-made potato chips in January 2026, importing more than $7 million worth of products from its neighbor. At the same time, construction of a major potato chip plant backed by PepsiCo is nearing completion in Alatau, a flagship new city development…
KazMunayGas (KMG), the national oil company in Kazakhstan, has suspended work on the Kalamkas-Sea and Khazar fields in the Caspian Sea, which it has been developing in conjunction with Russia’s Lukoil, a company targeted by Western sanctions, Interfax reported. The news was officially confirmed by KMG CEO Askhat Khasenov. «We…
Hong Kong-based Chinese company Jiaxin International Resources reported a profit of $40 million, reversing a $22.5 million loss in 2024. The turnaround follows the launch of a tungsten ore processing plant at the Boguty deposit in southern Kazakhstan — the world’s fourth-largest tungsten reserve — according to Interfax, citing the…
Abu Dhabi Commercial Bank (ADCB), a full-service commercial bank from the United Arab Emirates (UAE), has received permission from Kazakhstan’s Agency for Regulation and Development of the Financial Market (ARDFM) to establish a subsidiary bank in the country. ADCB is one of the largest banks in the UAE and holds…
The long-promised wave of AI-driven filmmaking — cheaper and faster than productions involving human crews — has yet to materialize. Expectations surrounding tools like Sora have not translated into a meaningful shift in how movies are made or consumed, according to 404 Media. Disney’s ambitious plan unravels Just a few…
The government of Kazakhstan has approved a 7.5 trillion tenge (about $16 billion) national program to develop coal-fired power generation, including incentives such as preferential mortgages for plant employees, the cabinet said. Plan aims to expand capacity and meet demand Prime Minister Olzhas Bektenov signed the program, which runs through…
Authorities in Astana have placed a blogger known as Ilyarchik (andersonchik1) on an international wanted list on suspicion of involvement in illegal online gambling, the Financial Monitoring Agency of Kazakhstan said. Allegations of illegal gambling activity The blogger, identified as Ilyar Yuvashev, born in 1998, has about 62,000 followers on…
Kazakhstan’s Minister of Energy Yerlan Akkenzhenov held talks with U.S. Secretary of Energy Christopher Wright at the CERAWeek international conference in Houston. The two sides discussed global energy security, the development of alternative export routes and the expansion of investment cooperation. The officials emphasized the strategic nature of their more…
Kazakhstan is no longer considering the construction of a natural gas processing plant (NGPP) at Karachaganak under the final production sharing agreement (FPSA), according to PSA, the country’s authorized body overseeing the project. According to PSA, construction of the NGPP by the project operator is impractical from a technical, commercial…
Domestic manufacturers in Kazakhstan are facing a sharp decline in demand as Chinese online marketplaces gain market share, according to Inna Apenko, founder of local brands Mimioriki and Global Nomads. Read also: Chinese e-commerce giants Temu and Pinduoduo expanding partnerships with Kazakhstan. Speaking during a discussion on the impact of…
Halyk Bank, Kazakhstan’s largest bank by assets, has not completed its planned acquisition of a 49% stake in Uzbek payment service Click within the expected timeframe, according to materials prepared for the bank’s upcoming annual general meeting of shareholders scheduled for April 23. Deal terms and timeline The bank announced…
