Freedom Holding Corp. has completed the acquisition of a Turkish bank. On July 31, 2026, the transfer of a controlling stake in Turkish Bank A.Ş. to Freedom Finansal Hizmetler A.Ş., a subsidiary of Freedom Holding Corp., was completed. The financial institution has changed its name to Freedom Bank A.Ş., and…
Freedom Finance Global has announced its results for the first quarter of fiscal year 2027 (from April 1 to June 30, 2026). During the reporting period, the company generated $227.90 million in revenue, a significant increase from $136.06 million in the same period a year earlier. During the first quarter,…
Lotte Rakhat plans to expand its exports to the Persian Gulf and Caucasus, Chairman Akhmed Akhrarov said. «Currently, Lotte Rakhat products are supplied to Russia, Central Asian countries, China, Mongolia, Afghanistan and Germany. We continue to expand our sales geography while exploring new promising markets, including the Persian Gulf and…
KMG International, a subsidiary of KazMunayGas (KMG), Kazakhstan’s national oil and gas company, reported a profit of $87 million in the first six months of 2026, compared with a $6 million loss in the same period of 2025, KMG reported. Consolidated EBITDA reached $203 million, up 40% year over year,…
Scammers in the crypto industry are increasingly using a scheme known as a «honeypot,» which allows investors to easily purchase a token but makes it impossible to sell, Binance Kazakhstan told Kursiv.media. As a result, the asset’s value appears to rise on the investor’s screen, but the investor can no…
In terms of assets, Kazakhstan’s banking sector is larger than those of all Eurasian Economic Union (EEU) member states except Russia. Kazakh banks have 10 times the assets of banks in Kyrgyzstan and 2.5 times those of banks in Belarus, according to EEU data. The total assets of Kazakhstan’s banks…
Negotiations to sell Brazilian mining company Bahia Mineração (Bamin), part of Kazakh mining group Eurasian Resources Group (ERG), to Portugal’s Mota-Engil are in the final stages. An agreement could be signed within the next few weeks, according to BNamericas. Read also: China enters talks for Kazakhstan’s stalled Brazilian mega-project. The…
Kazakhstan-based Resurs 2018 plans to develop the Bayan tungsten deposit in the Aiyrtau district of the North Kazakhstan region, with production of up to 1 million tons of tungsten ore per year expected to begin in 2027. The project’s ultimate beneficial owners include several individuals, including Mukadaskhan Ibragimova and billionaire…
British oil and gas company Nostrum Oil & Gas announced on the Astana International Exchange (AIX) that it is in talks to sell its Kazakhstan business, with all of the company’s assets located in the country. The company said it has received interest from a potential buyer. According to Nostrum…
Nine industry-specific and 20 regional atlases of emerging professions have been compiled in Kazakhstan, Sayasat Nurbek, minister of science and higher education, said at a recent government meeting. The updated industry atlases for mechanical engineering and logistics, along with those for the Kostanay and Karaganda regions, for the first time…
Kazakhstan’s government plans to reduce the shadow economy to 13.8% of GDP by 2028. To identify businesses operating outside the formal economy, the country is launching an AI-powered digital monitoring platform. The platform will combine data from government agencies to identify and help prevent risks associated with the shadow economy…
Kazakhstan currently has nine billionaires, according to Forbes. Below is an updated infographic highlighting Kazakhstan’s richest people and their key assets. The visual was compiled by Nurasyl Abdrazakuly, a Kazakh data scientist and frequent collaborator on our infographics. As in the previous infographic, each billionaire is shown alongside the logo…
The Caspian Pipeline Consortium (CPC) has resumed oil shipments after previously suspending loadings at its marine terminal near Novorossiysk, Russia, following attacks by unmanned aerial vehicles (UAVs) and uncrewed surface vessels (USVs) on tankers, Kazakhstan’s Ministry of Energy said. The Energy Ministry confirmed that the CPC resumed operations. “The Caspian…
The government of Kazakhstan has approved rules for strategic digital mining. Large mining companies will be able to purchase electricity at a price not exceeding the maximum rate charged by electricity producers by signing 10-year contracts. In return, they will donate a portion of their mined digital assets each month,…
Tengizchevroil (TCO), which operates Kazakhstan’s Tengiz oil field, plans to produce up to 40 million tons of oil by the end of 2026, according to Kazakhstan’s Ministry of Energy. In 2025, TCO produced 39 million tons of oil. In the first half of 2026, TCO produced 16.6 million tons of…
Hungarian banking group OTP Bank decided to strengthen its position in Europe instead of entering Kazakhstan, as previously planned. The bank has signed an agreement to acquire 100% of the shares of Luminor Holding, the parent company of Luminor Bank, which operates in the Baltic states. The sellers are a…
Between January and May 2026, Kazakhstan exported 7,990 tons of chilled beef worth $56.7 million. Uzbekistan was by far the largest destination for Kazakhstan’s chilled beef exports. According to TradeReport, the country accounted for about 91% of Kazakhstan’s total chilled beef exports during the period, highlighting the sector’s heavy reliance…
Kazakhstan’s National Bank is evaluating several models for integrating confiscated cryptocurrency into the country’s financial system, including the possible creation of a National Strategic Cryptocurrency Reserve. In a statement, the central bank said it is working with other government agencies on arrangements for seizing, confiscating, storing and managing digital assets…
A factory producing humanoid and educational robots will be built in Almaty, becoming the first overseas manufacturing facility for Chinese robotics company UBTECH Robotics. Agreement signed in Shanghai According to the Almaty akimat (mayor’s office), the agreement was signed during a business forum in Shanghai attended by Kazakh President Kassym-Jomart…
In 2025, China was the largest export market for nine of Kazakhstan’s regions, while Russia ranked first for seven. Italy, Switzerland and Uzbekistan were the top export destinations for the remaining regions. Read also: Between giants: Kazakhstan’s deepening ties to China and Russia. The map below shows the country to…
Most Kazakhstani banks have joined the Interbank Mobile Payment System (IMPS), which is designed to simplify purchases through a single QR code. The service will officially launch on July 19, with additional features to be introduced gradually. Speaking at the IMPS launch ceremony, National Bank Deputy Chairman Binur Zhalenov said…
Kazakhstan’s Ministry of Justice says the country is not obligated to comply with an interim ruling issued by the U.N. Commission on International Trade Law (UNCITRAL) arbitration tribunal. As a result, shareholders in the Kashagan consortium could still be required to pay a 2.3 trillion tenge environmental fine, along with…
Kazakhstan’s commercial banks, including Halyk Bank and Freedom Bank, have begun offering mortgages under the Housing and Construction Savings (HCS) system, joining Otbasy Bank in providing loans with interest rates ranging from 5% to 10%. The new products could divert some demand from traditional market-rate mortgages, Ramazan Dossov, chief analyst…
Starting July 18, provisions will enter into force establishing the digital tenge as a digital form of the national currency and recognizing it as legal tender. The relevant provisions are set out in a law on issues concerning the regulation and development of the financial market, communications and bankruptcy. The…
