The escalation of conflict in the Middle East, along with the risk of a closure of the strategically vital Strait of Hormuz, is putting significant pressure not only on global energy markets but also on the economic stability of countries across the region. Amid rising geopolitical uncertainty and the potential…
Despite the continued dominance of the state in Uzbekistan’s banking sector, private players — particularly young digital banks — are expanding more rapidly. The gradual denationalization of the economy is also expected to revive the local stock market, which currently lacks attractive instruments for investors. Assets of Uzbekistan’s credit institutions…
The price of Kazakhstan’s CPC Blend crude has been declining on global markets. According to the latest data, the benchmark traded at $114.47 on Friday but fell to $112.23 on Monday, April 20. The drop suggests shifting supply-and-demand dynamics and increased investor caution. Middle East tensions weigh on market Ongoing…
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,…
Kazakhtelecom, Kazakhstan’s largest telecommunications operator and part of the Samruk-Kazyna sovereign wealth fund, plans to replace some employees with artificial intelligence as early as 2026. The changes will primarily affect call center staff, whose functions will be partially automated, CEO Bagdat Mussin said during a meeting of Samruk-Kazyna’s public council,…
Tau-Ken Samruk, Kazakhstan’s national mining company and a subsidiary of sovereign wealth fund Samruk-Kazyna, has agreed to sell a 70% stake in the North Katpar tungsten deposit to U.S.-based Cove Kaz Capital Group LLC. The company said it approved the transaction on April 16. The share purchase agreement for a…
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…
Tajikistan is interested in importing Kazakh grain, flour and sunflower oil, said Nurmahmad Akhmadzoda, director of the Agency for State Material Reserves of Tajikistan. The Ministry of Agriculture quoted him following a meeting with the leadership of Kazakhstan’s Food Contract Corporation (FCC), a state-owned company that regulates the grain market.…
In March 2025, Kazakhstani banks reported a combined profit of $432.5 million, while the sector’s total profit for the first quarter reached $1.2 billion. Monthly profit fell by 5.8% year-on-year, while cumulative profit for the entire first quarter declined by 12%, according to the National Bank. The decline in profit…
Kazakhstan’s Ministry of Ecology said a court in Astana has upheld a 2.4 trillion tenge environmental fine imposed on a consortium of major international oil companies. The entities, which are part of the North Caspian Operating Company (NCOC), are continuing to appeal the ruling, Bloomberg reported. Supreme Court rejects appeal…
A Chinese mining company has established a new subsidiary in Kazakhstan with a registered capital of $150 million at the Astana International Financial Centre, according to a report by Finmentor. The company, Beijing Huaxia Jianlong Mining Science & Technology Co., Ltd., registered its local entity under the name Tianlong Mining…
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…
According to Kazakh economist Ruslan Sultanov, the structure of foreign investment in Kazakhstan has shifted. By the end of 2025, the manufacturing sector attracted more investment than mining for the first time. Gross foreign direct investment (FDI) inflows reached $20.4 billion, up 14.4% from $17.9 billion in 2024. The growth…
On April 17, Freedom Holding Corp. announced the acquisition of ChessBase, one of the world’s oldest and largest providers of chess software, analytics and data. The company aims to strengthen its market position by expanding AI use and integrating the platform into its digital ecosystem, with planned investments of around…
The Development Bank of Kazakhstan (DBK), a subsidiary of Baiterek Holding, may finance two rare earth metal mining projects, Baiterek Managing Director Aidyn Akan told reporters on the sidelines of the MINEX Kazakhstan 2026 forum. Read also: US moves to counter China on minerals with new Kazakhstan pact. Akan said…
In the first quarter of 2026, Kazakhstan’s National Fund, a sovereign wealth fund financed by oil revenues, received 784 billion tenge (about $1.6 billion) from oil companies — an increase of 162 billion tenge compared with the previous year. However, the additional revenue did not offset the 800 billion tenge…
Iranian businessman Gholam-Ali Soleimani has applied for financing from the Development Bank of Kazakhstan (DBK) to support construction of a dairy processing plant in Qonaev, in southeastern Kazakhstan. Read also: Elite only: who benefits from Kazakhstan’s Development Bank? A project to build a dairy plant in Qonaev producing cultured milk…
Kazakhstan’s Agency for Regulation and Development of the Financial Market, together with the National Bank, has approved new rules on biometric authentication. The regulation mandates verification through the Identification Data Exchange Center (IDEC) for banks, microfinance institutions and payment organizations. In addition to facial recognition, the rules allow the use…
Shareholders of Kazakhstan’s state-owned uranium giant, Kazatomprom, have approved a transaction with India’s Department of Atomic Energy, according to the company’s disclosed corporate filings. Long-term supply agreement The documents indicate that the deal is a long-term contract for the purchase and sale of natural uranium concentrates. Under the agreement, Kazatomprom…
Hungary’s OTP Bank sees Central Asia as one of its priority regions for business expansion and mergers and acquisitions, according to the group’s full-year 2025 results. The report highlights that the bank is prioritizing organic growth while continuing to pursue value-creating deals both across its current footprint and beyond. «Management…
Kazakhstan’s oil exports fell to 15.3 million tons in January to March, down 21.5% year-on-year, according to Energy Minister Yerlan Akkenzhenov. «Over the reporting period, oil and gas condensate production volume made 19.7 million tons, equal to 80.2% of the same period last year… Oil exports over three months totaled…
Kazakh consumers often cannot obtain compensation from major international companies — even in cases involving proven defects. While courts in other countries have forced corporations to pay billions in damages, consumers in Kazakhstan are frequently left without recourse. Lawmakers are now looking to change that. Kazakhstan’s lower house of parliament…
Deputy Governor of the Aktobe region Abzal Abdikarimov met with a delegation from Shell Kazakhstan to discuss investment projects, further cooperation and the launch of geological exploration at the Zhanaturmys oil and gas block under a project implemented by the company as part of a contract with Kazakhstan’s Ministry of…
