Forbes Kazakhstan has published its updated ranking of the 50 most influential businessmen in Kazakhstan. Vyacheslav Kim has overtaken Bulat Utemuratov for the No. 1 spot. The ranking is based not only on business activity but also on public and philanthropic efforts of the country’s most prominent and active businessmen.…
Tether, the issuer of USDT, the world’s most widely used stablecoin pegged to the U.S. dollar, has signed an agreement with the National Bank of Kazakhstan and the administration of the city of Alatau, Kazakhstan’s new flagship megaproject. The parties have agreed to explore the possibility of launching a stablecoin pegged…
Kazakhstan’s government securities have moved closer to global financial markets. Following a review of the 2026 classification, J.P. Morgan placed Kazakhstan’s bonds on Index Watch-Positive. Kazakhstan’s Ministry of Finance highlighted that this development paves the way for the potential inclusion of Kazakhstani government securities in the leading emerging-market bond index,…
Kazakhstan’s Ministry of Energy and Dunga Operating GmbH have resolved a long-running dispute over nonrecoverable historical costs at the Dunga oil field. The investors will provide agreed financial compensation to the state and invest in a new phase of development, the ministry reported. An agreement settling disputes related to the…
Altyn Bank, a subsidiary of China CITIC Bank Corp. Ltd., has begun accepting retail deposits in Chinese yuan. Starting Oct. 5, 2026, individuals can open term and savings deposits denominated in yuan at the bank. The “Gold Reserve” yuan deposit is already available among the bank’s products. Customers can add…
Kazakhstani manufacturers of energy equipment aim to secure up to 52% of the construction costs of solar power plants in the country. Sergey Agafonov, chairman of the Kazakhstan Association of Energy Repair, Design and Engineering Companies, made the proposal in a letter to Ryskhan Nugurbekov, managing director of Baiterek, a…
By 2030, Kazakhstan expects to not only fully meet domestic fuel demand but also begin exporting finished petroleum products to Central Asian countries. To achieve this, the country is expanding the capacity of existing refineries and preparing a project to build a fourth refinery. Energy Minister Yerlan Akkenzhenov made the…
September figures from the Freedom Holding Corp. PMI (Purchasing Managers’ Index) indicate a further slowdown in growth in Kazakhstan’s services sector. The modest rise in activity was accompanied by a weakening inflow of new orders and the slowest rate of services price inflation since December 2020. Business activity trends The…
Artificial intelligence will help people in Kazakhstan find jobs, create resumes and identify risks of unemployment. The Ministry of Labor and Social Protection is developing a digital employment service powered by AI, according to the ministry. The system will create digital profiles of citizens based on their education, work experience…
Plunging global agricultural prices significantly increase the risk of civil war in developing countries, according to a column by economist Antonio Ciccone published by the Centre for Economic Policy Research (CEPR). Analyzing extensive data from 118 low- and middle-income countries between 1957 and 2007, Ciccone finds that a one-standard-deviation drop…
Kazakhstani banks can now set the validity period for bank cards issued to foreigners at their own discretion, Oninvest reported. Previously, such cards were subject to a 12-month limit. The changes took effect as part of amendments to the internal control rules aimed at preventing the legalization of criminal proceeds…
According to Timur Turlov, CEO and majority shareholder of Freedom Holding Corp., the company is training an AI agent to assist Freedom SuperApp users. The company expects the agent to help users choose investment and insurance products, book travel and flights, and even apply for visas. «We want to ensure…
The Silk Road Electronics plant in Saran, Karaganda region, plans to expand its operations and begin manufacturing ultrasound diagnostic systems. The facility currently produces Samsung home appliances, including televisions and washing machines. The project’s partner is South Korean company Samsung Medison, which specializes in medical ultrasound systems. Its equipment is…
Uzbek fintech company Alif Moliya is preparing to issue Islamic sukuk in Kazakhstan, economist Arman Batayev said. To facilitate the issuance, a special-purpose company, Alif Moliya Sukuk SPC Ltd., was registered at the Astana International Financial Centre (AIFC) on Sept. 3. It will serve as the issuance vehicle for the…
Shipments of Kazakhstani grain to Afghanistan increased 4.4-fold in the first eight months of 2026, reaching 655,000 tons, according to Deputy Minister of Transport Zhanibek Taizhanov. Read also: Cheap Russian grain threatens Kazakhstani farmers’ key markets. Kazakhstan transported 9.3 million tons of grain by rail during the period, up 13%…
Carlsberg Kazakhstan has officially opened a new non-alcoholic beverage plant in Boraldai, a settlement in the Almaty region, with $344 million invested in the facility. The plant will produce beverages under a license from PepsiCo and will have an annual production capacity of up to 1 billion liters. The beverages…
Kazakhstani company Integra Construction KZ has completed the third section of the Khaf-Herat railway in Afghanistan, the Ministry of Trade and Integration reported. Businessman Shakhmurat Mutalip is the company’s sole ultimate owner. The Ministry of Foreign Affairs of Kazakhstan previously announced the signing of a contract between the Afghanistan Railway…
The 2 tenge-per-kilowatt-hour tax ($0.0045) on electricity consumed by cryptocurrency mining farms should be abolished, according to Daniyar Mubarakov, president of the Blockchain and Crypto Mining Association. «With an electricity surplus expected following the commissioning of new generating capacity in Kazakhstan, we propose reclassifying miners as standard wholesale consumers and…
Kazakhstanis expect cryptocurrencies to become part of their everyday financial lives, including for paying for goods and services, within the next three to five years. That is according to a 2026 survey of 1,930 users conducted by Binance Kazakhstan. The study found that 32.8% of participants cited paying for goods…
The ownership structure of Sozak Oil and Gas, a gas producer planning to develop fields in the South Kazakhstan protected zone, has undergone a major transformation. How the ownership structure changed During the first half of 2026, the company’s principal shareholder significantly reduced its stake, while five new investors acquired…
Kazakhstan Temir Zholy (KTZ), the national railway operator and a subsidiary of Samruk-Kazyna, intends to raise up to $5 billion through an initial public offering (IPO), targeting a total business valuation of up to $30 billion. The information was reported by Hong Kong financial publication etnet and highlighted by the Kazakhstan…
Existing insurance companies in Kazakhstan will be able to establish «Islamic windows» without creating separate legal entities, according to the Agency for Regulation and Development of the Financial Market (ARDFM). The initiative is aimed at developing Islamic insurance, known as takaful. Takaful means «providing mutual guarantees.» It is an insurance…
Kazakhstan has signed an agreement with the Asian Infrastructure Investment Bank (AIIB) that will allow it to attract up to $6 billion in additional loans. Minister of National Economy Serik Zhumangarin said foreign borrowing poses no threat to the country’s economy. During a recent briefing at the Kurultai, Kazakhstan’s new…
Speaking at the «Kazakhstan-China» Investment Forum, Kazakhstani President Kassym-Jomart Tokayev announced the creation of a Kazakh-Chinese investment fund. According to Tokayev, the fund will serve as a channel for attracting financing for major projects, as Chinese companies in Kazakhstan should be not just trading partners but also long-term investors in…
