International ride-hailing service inDrive acquired Pakistani quick-commerce startup Krave Mart in an all-stock deal, TechCrunch reported. TechCrunch said the deal was agreed to in 2025 and approved by Pakistan’s Competition Commission. Financial terms were not disclosed. The acquisition supports inDrive’s strategy to become a SuperApp as it expands beyond ride-hailing…
Kazakhstan is experiencing a dynamic surge in food and beverage production. Government forecasts anticipate food production volume to hit a remarkable 4.7 trillion tenge (approx. $9.7 billion) by the end of 2026. Beverage sector expansion Coca-Cola Almaty Bottlers is poised to drive growth in the beverage sector. The company plans…
InDrive CEO Arsen Tomsky said the company’s revenue grew by 31% last year compared with 2024, reaching $601.6 million. In an interview with Reuters, Tomsky said profitability per ride has improved after several years of rapid expansion. The privately held U.S.-based company is now seeking to expand its business in…
U.S.-based Cove Capital and Kazakhstan’s Tau-Ken Samruk are set to develop tungsten deposits in Kazakhstan. Investors from the U.S. plan to establish two processing plants and a metallurgical plant worth $1.1 billion. Kazakhstan’s Minister of Industry and Construction Yersayin Nagaspayev held talks with Cove Kaz Capital Group LLC CEO Dominic…
Organizers of a financial pyramid scheme allegedly posed as representatives of a company called Sirius Energy, which they claimed was involved in solar power generation projects in Chile. The suspects persuaded residents of Kazakhstan to invest in what they described as high-return renewable energy ventures. Read also: How Kazakhstanis lost…
Air taxis from Alatau — Kazakhstan’s flagship future city — are expected to fly to Almaty and other cities in the Almaty region. Aircraft testing is expected to begin this year, according to the Almaty region akimat, the local executive authority. Read also: Kazakhstan to launch the region’s first dedicated…
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan (ARDFM) is preparing to simplify investor access to initial public offerings (IPOs). As part of its 2026 supervisory agenda, the regulator announced plans to eliminate the requirement to pre-fund IPO applications. According to a policy…
The United Kingdom has expanded its anti-Russian sanctions list, adding 240 companies, seven individuals and 50 ships, including three entities linked to Russia’s state nuclear corporation Rosatom and two employees of its subsidiaries. Read also: Why Russia’s Rosatom is the undisputed pick for Kazakhstan’s first nuclear plant. The updated sanctions…
Kazakhstan is awaiting an official position from participants in the Turkmenistan-Afghanistan-Pakistan-India gas pipeline (TAPI) regarding its potential involvement in the project, the country’s Ministry of Energy told Interfax-Kazakhstan. «As part of a preliminary exchange of views, an official letter expressing interest in exploring possible forms of Kazakhstan’s participation in the…
A new phase of the major pharmaceutical project Polpharma Santo, owned by Polish billionaire Jerzy Starak, is being launched in Shymkent. Phase one of the new facility is expected by the end of 2029, creating 300 jobs and totaling $79.5 million in investment. The government of Kazakhstan has already approved…
A controversy involving the fast-food chain Burger King in Kazakhstan has drawn widespread attention on social media, where users have posted criticism and negative reviews. What began as a private labor dispute has expanded into a broader discussion about inclusion, corporate culture and employee treatment. Social media post triggers public…
Kazakh President Kassym-Jomart Tokayev criticized government agencies for irrational spending on digitalization during an expanded government meeting Feb. 10. The head of state called for the creation of a unified digital platform without requesting «huge sums of money» from the state budget. According to Tokayev, the lack of unified oversight…
Air Astana shareholders have approved a deal with Airbus to purchase 25 aircraft. Renewing its fleet will cost the airline at least 550 billion tenge ($1 billion). The decision, made at a special shareholders meeting, was announced on the Kazakhstan Stock Exchange. Air Astana is expected to place a firm…
China State Construction Engineering Corporation (CSCEC), the largest construction company in China, will participate in the construction of Alatau City, an ambitious new project in the Almaty region. According to regional authorities, the company’s engagement is the result of an agreement signed in September in Beijing between Kazakhstan’s National Investment…
Freedom Holding Corp. (FRHC) aims to create a fully-fledged digital infrastructure in Kazakhstan that contributes to the country’s development, according to the company’s CEO Timur Turlov. He made this statement at the FRHC Strategic Summit held from Jan. 25 to Jan. 29 in Limassol, Cyprus. Global scale The Freedom Holding…
Kazakhstan’s President Kassym-Jomart Tokayev said effective engagement with investors requires cooperation among government agencies through a single coordination and decision-making center. New appointments to oversee investment work Presidential aide Murat Nurtleu has been appointed coordinator for work with foreign investors, while presidential adviser Asset Irgaliyev will oversee engagement with international…
Alatau, Kazakhstan’s new flagship megaproject, is set to become the region’s first fully digital city, featuring blockchain integration and a cryptocurrency-based economy, according to the Almaty regional administration, where the city is located. International partnerships and investment During a recent visit to China, a Kazakh delegation concluded agreements worth billions…
Timur Turlov’s Freedom Holding Corp. (FRHC) released its financial results for the third quarter of fiscal year 2026 (ended Dec. 31, 2025), revealing $1.688 billion in revenue and $145 million in net profit for the first nine months of the fiscal year. The company also reported strong growth in key…
The international trading platform ITS has completed the regular rebalancing of its flagship ITS World Index, increasing the number of Kazakhstani issuers in the index from two to five. Who joined the top list? The index basket, which tracks 50 of the world’s largest corporations, added three new representatives from…
On Feb. 4, as part of Kazakhstan President Kassym-Jomart Tokayev’s state visit to Pakistan, he and Prime Minister Shehbaz Sharif attended the Kazakhstan-Pakistan Business Forum, according to the Akorda press service. Speaking at the forum, Tokayev thanked the Pakistani prime minister for initiating the event, calling his first state visit…
ASML Holding NV plans to eliminate roughly 1,700 positions, primarily within its technology divisions, according to Chief Executive Officer Christophe Fouquet, Bloomberg reported. The announcement came as the Dutch tech giant reported its 13th straight year of revenue growth. Most of the job reductions will take place in the Netherlands,…
The Kazakhstan Stock Exchange (KASE) plans to launch the country’s first exchange-traded funds linked to KASE indices, marking a milestone for Kazakhstan’s capital markets. The move will allow retail investors to gain exposure to the domestic market using a structure similar to widely followed global benchmarks such as the S&P…
Kazakhstan’s government has approved major investment projects to build four modern pharmaceutical manufacturing plants to expand domestic drug production. The total investment is estimated at 173 billion tenge (about $340 million). The projects will be implemented by four companies: AltINFARM LLP; Nobel Almaty Pharmaceutical Factory JSC; Abdi Ibrahim Global Pharm…
Amid a sharp rise in Kazatomprom’s share price in early 2026, Kursiv.media calculated the increase in value of Kazatomprom and KazMunayGas shares purchased in 2023 and 2024 using money from Kazakhstan’s National Fund. The analysis shows that the combined unrealized profit has already exceeded 2 trillion tenge (about $4 billion).…
