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…
Huating Biotechnology Co. Ltd. will open a cattle bone-processing plant in Kazakhstan’s Turkestan region, producing peptone for pharmaceuticals, oil for aviation fuel and bone char for porcelain manufacturing. A correspondent for Kursiv.media visited the future production site and spoke with the head of the Chinese company, Zhao Xuedong, about the…
U.S. authorities are reportedly moving toward dropping criminal fraud charges against Indian billionaire Gautam Adani, following progress in a related civil case and discussions about his planned investments in the U.S., Reuters reported. The U.S. Department of Justice (DOJ) had accused Adani of involvement in a bribery scheme to secure…
South Korea’s semiconductor giants are riding a powerful wave of demand driven by artificial intelligence (AI), pushing SK Hynix, a South Korean manufacturer of dynamic random-access memory (DRAM) chips and flash memory, close to a historic valuation milestone of $1 trillion, Reuters reported. Investor enthusiasm has been fueled by surging…
Qazaq Electric Ltd. plans to develop a network of electric vehicle charging stations in Kazakhstan in collaboration with the S. M. Kirov Machine Building Plant and defense firm Aselsan Engineering. Company Director Renat Zheksembayev announced the plans in an interview with Kursiv.media. «We produce stations ranging from 22 kW to…
The 17.78% drop in gold prices since the start of the Iran conflict falls outside historical norms, according to analysts at Halyk Finance. In a recent report, they noted that the metal could gain as much as 30% over the next 12 months. Liquidity shock drives early decline The outbreak…
Chinese investors planning to build a locomotive plant in Atbasar, northern Kazakhstan, have failed to secure the necessary funding, prompting the government to search for a new investor. According to Deputy Transport Minister Maksat Kaliakparov, construction of the plant in the Akmola region has been delayed due to the investor’s…
A waste incineration project by Junxin Environmental Protection is moving forward in Almaty, with construction planned in the city’s Alatau district. Project scope and capacity The facility is designed to process up to 2,000 tons of waste per day and generate as much as 60 megawatts of electricity, which will…
Two IT hubs with a combined floor area of approximately 80,000 square meters are set to be launched in Almaty. The first is expected to open later this year, while the second — roughly the size of 10 football fields — will be built from scratch, according to Almaty Deputy…
The administration of the Pavlodar region signed a memorandum with China’s Snow Valley Agricultural Group Co. Ltd. to launch a large agro-industrial project with total investments of up to $200 million. Under the agreement signed by Gov. Assain Baikhanov, Snow Valley Agricultural Group Chairman Wang Dengshe, and CEO Zhang Fan,…
Kaspi.kz, Kazakhstan’s leading fintech company, said it has completed the purchase of 6 million American depositary receipts (ADRs) from Baring Fintech Venture Funds. Tencent is among the buyers. Following the transaction, Tencent has become one of Kaspi.kz’s largest shareholders, according to company disclosures. New investors and deal advisers In addition…
Global tech giants such as Amazon, Microsoft and Google may be considering Kazakhstan as a location for data centers, amid rising geopolitical risks in other regions. Shifting focus after Middle East disruptions Speaking at the Kursiv Ecosystems Forum on April 17, Vladislav Minkevich, head of the AKASHI Data Center project…
Kazakhstan has seen an increase in the number of legal entities with foreign capital, rising 10% year over year to 65,952 companies, according to the Bureau of National Statistics. Regional neighbors drive growth The main drivers of this growth over the past year have not been Western countries, but Kazakhstan’s…
