This week, Kazakhstan’s National Bank will lift the requirement for quasi-state-owned companies to sell 50% of their foreign currency earnings on the domestic market, a measure introduced last year to support the tenge. National Bank Governor Timur Suleimenov said the requirement was adopted as a temporary anti-crisis measure when the…
The current tariffs for biogas power plants in Kazakhstan are discouraging investment and delaying the launch of new projects, according to Evgeny Churdalev, CIS sales director at Jenbacher & Waukesha Gas Engines. According to Churdalev, the maximum auction price for electricity generated by biogas power plants is 32.23 tenge ($0.068)…
Kazakhstan plans to establish a Data Center Valley, with Amazon and G42 already planning to participate. President Kassym-Jomart Tokayev announced the initiative during a meeting of the Foreign Investors Council. The president said the Digital Code, the Law on Artificial Intelligence, adopted by Parliament, and the Digital Qazaqstan strategy create…
Kazakh President Kassym-Jomart Tokayev met with the President of the Islamic Development Bank (IsDB) Muhammad Sulaiman Al Jasser, the Akorda press service reported. During the meeting, President Tokayev noted that, over the years of cooperation, the IsDB has become a reliable partner in supporting Kazakhstan’s national development priorities. According to…
Conditions for doing business in Kazakhstan’s jewelry industry are more favorable than in neighboring Kyrgyzstan, according to Kazakhstan’s Ministry of Industry and Construction. The ministry said Kazakhstan offers a more comprehensive and flexible support system for jewelry manufacturers, with policies covering the entire production chain — from importing equipment and…
Nace.AI, a U.S.-based startup founded by Kazakhstanis Dos Bakytzhan (CEO and former head of GOAT.AI), Zhanibek Datbayev (CTO and former Meta AI engineer) and Abulhair Saparov (chief scientist and assistant professor of computer science at Purdue University), has attracted a major new investor — Jerry Yang, co-founder of Yahoo!, an…
Kazakhstan has become the first Central Asian country to join Pax Silica, a U.S.-led international technology initiative focused on artificial intelligence and supply chain security that aims to strengthen economic security cooperation among allies and trusted partners. The documents formalizing Kazakhstan’s accession to the alliance, along with the joint statement…
The Eurasian Development Bank (EDB) and AKASHI Data Center PLC have agreed on financing terms for a major infrastructure project. The parties signed a memorandum of cooperation during the EDB’s Annual Meeting and Business Forum in Almaty, the company announced. The memorandum was signed by Sergey Ignatov, senior managing director…
Griffin Partners, a U.S.-based real estate investment and development firm, has signed an agreement with the Eurasian Development Bank to build a 125,400-square-meter warehouse complex in the new city of Alatau. An agreement to create a Class A+ logistics park was signed at the «Eurasia 2030+» EDB annual meeting and…
Chinese technology company SuperX AI Technology Ltd. is considering building a cluster of artificial intelligence data centers in Kazakhstan with a total capacity of up to 1 gigawatt (GW). The project would be implemented in stages between 2026 and 2029. Read also: New 1-gigawatt data center project to transform Kazakhstan’s…
Construction has begun on a new Coca-Cola beverage plant in Aktobe. The project is being implemented by the Turkish conglomerate Anadolu Group, which already operates three production facilities in Kazakhstan. A groundbreaking ceremony was held at the future plant site, officially launching one of the region’s largest manufacturing investment projects.…
Kazakhstan has signed an agreement with Firebird Inc. to develop computing infrastructure projects involving NVIDIA technology. The government said the initiative, known as the Data Center Valley, is expected to attract $10 billion in investment. Read also: What you need to know about Kazakhstan’s new $16B AI strategy. The funding…
Kazakhstan plans to secure financing from the World Bank to restore the North Aral Sea and rehabilitate waterways in the Syr Darya River basin. According to Deputy Prime Minister Serik Zhumangarin, the projects, whose costs have already been disclosed by the government, will require nearly 80 billion tenge ($163 million).…
Deliveries from sex shops have emerged as the fastest-growing business segment for Glovo in Kazakhstan, according to Ruslan Gamayev, the company’s general manager in the country. Read also: Toys ‘are’ us: Kazakh journalist featured on the Guardian cover for sex toy advocacy. Speaking at the New Vision Forum 2026, Gamzaev…
Construction has commenced on a massive “Data Center Valley” cluster near Ekibastuz, a project intended to establish the nation as a premier Eurasian digital hub, according to a report in Kazpravda. The ambitious initiative aims to attract global hyperscalers and will eventually house 10 modern data centers with a total…
Kazakhstan has unveiled a sweeping national roadmap to transform itself into a premier digital hub by 2029, placing artificial intelligence at the center of its economic and social development. The “Digital Qazaqstan” initiative seeks to transition the nation from a service-based digital model to a “platform state” where AI drives…
In fiscal year 2025, Freedom Capital Markets (FCM), the American division of Freedom Holding Corp., operated in 32 U.S. states. In fiscal year 2026, it expanded its license to 35 states and the District of Columbia. In order to get a closer look at Freedom’s American business and capture the…
Freedom Holding Corp. has applied for a banking license in France. As part of its European expansion strategy, the company plans to invest €500 million to launch a digital bank and develop local infrastructure. Freedom Holding CEO Timur Turlov confirmed the plans in an interview with Reuters. «We have submitted…
The completion of a five-year investigation by the U.S. Securities and Exchange Commission (SEC) will allow Freedom Holding Corp. to access new international funding markets and accelerate the acquisition of financial licenses in the U.S. and the European Union, according to the holding company’s CEO Timur Turlov. He made the…
According to Freedom Holding Corp. CEO Timur Turlov, the telecommunications business will become the company’s fourth-largest source of income in the coming years. He made this statement during a live broadcast discussing the company’s financial and operating results for fiscal year 2026. Meanwhile, Freedom is completing several major infrastructure projects…
According to Freedom Holding Corp.’s Form 10-K filing for fiscal year 2026, which ended March 31, 2026, the company’s revenue has increased more than 26-fold since its Nasdaq listing, reaching $2.19 billion. Furthermore, the company has doubled its net profit from $76.2 million in 2025 to $153.3 million in 2026.…
Turkish mining company CoreX Holding plans to increase explored resources at the Manka gold deposit in East Kazakhstan from 195,000 ounces to more than 400,000 ounces of gold, according to the company’s annual report cited by qazba.kz. The company plans to begin mining operations at the deposit in 2026 and…
The U.S. stock market could deliver significantly weaker returns over the next 10 years, according to Aman Alimbayev, an economist and former analyst at the Kazakhstan Stock Exchange (KASE). Read also: Kazakhstan launches its first S&P 500-style index funds. As an example, Alimbayev cited the distribution of 10-year U.S. stock…
Construction has begun on a copper backed by Chinese investment in Aktobe. The groundbreaking ceremony for the Eurasian Integrated Green Copper Plant, which will produce copper rod and cable products, took place in the Aktobe Special Economic Zone. The project is being carried out with support from the Aktobe region…
