Kazakh economist Rassul Rysmambetov said the tenge could remain in the range of 490-510 per U.S. dollar if global oil prices stay above $100 per barrel amid the ongoing conflict involving Iran. Read also: How $100 oil could pay for Kazakhstan’s nuclear future. According to Rysmambetov, Iran has previously signaled…
The Chinese company Xiamen Tungsten Co., Ltd. has established a subsidiary in the Astana International Financial Centre (AIFC) — Xiamen Tungsten Hanyuan Resources Co., Ltd. — according to Finmentor.kz author Arman Batayev. Previously, Xiamen Tungsten sought to gain control of the largest tungsten deposit in Kazakhstan’s Karaganda region. Operations and…
To curb rising oil prices amid escalating tensions in the Middle East, the U.S. will release 172 million barrels of oil from the Strategic Petroleum Reserve, US Energy Secretary Chris Wright announced. Coordinated release with IEA partners In a statement, Wright said that 32 member countries of the International Energy…
An unprecedented joint Israeli-U.S. military campaign against Iran has delivered a severe blow to China’s broader strategy in the Middle East. The crisis threatens Beijing’s energy security, undermines its defense export ambitions and disrupts key elements of its Belt and Road Initiative, according to reporting by Chinaobservers.eu. Energy network under…
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…
During the second Nuclear Energy Summit in Paris, Emmanuel Macron called on Kazakhstan to increase uranium exports to the European Union. The French president said additional supplies would help Europe meet its goal of expanding nuclear fuel production as part of its long-term energy strategy. Read also: Kazakhstan holds enough…
Yerlan Akkenzhenov, Kazakhstan’s energy minister, said he expects global oil prices to remain around $80 per barrel but noted that a significant increase could bring major additional revenue to the country. Speaking about possible market scenarios, Akkenzhenov said that if oil prices reach $100 per barrel, Kazakhstan could receive about…
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…
Islamic mortgage products could be introduced in Kazakhstan as early as this year, according to Lyazzat Ibragimova, CEO of Otbasy Bank, the sole bank implementing housing construction savings system. Read also: Islamic finance booms in Kazakhstan, but a key piece is missing: mortgages. Ibragimova announced the plan during a briefing following a recent…
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…
Freedom Holding Corp. is acquiring a 99.32% stake in Turkish Bank A.Ş. from Özyol Holding and the National Bank of Kuwait. The deal still has to be approved by Turkish regulators. Deal details and development plans The core of the deal is Turkish Bank A.Ş., which has operated in Turkey…
Authorities in the Philippines are considering introducing a four-day workweek as part of efforts to reduce fuel consumption, according to a report by The Guardian. Read also: The 4-day week is a global hit — so why aren’t Kazakh employers buying in? The proposal comes as global fuel prices rise…
Kazakhstan’s national mining company Tau-Ken Samruk — a subsidiary of the sovereign wealth fund Samruk-Kazyna — is set to develop deposits of rare and rare-earth metals in Rwanda jointly with the country’s Ngali Holdings, Samruk-Kazyna reported. «Nurlan Zhakupov, the head of the fund, met with the management of the Rwanda…
Kazakhstan has joined a new interstate standard (GOST) regulating potato chips. The document has also been adopted by Russia, Armenia, Belarus, Tajikistan, Uzbekistan, and Kyrgyzstan. Previously, there were no unified requirements for the popular snack across these countries, members of the CIS, according to TASS. What the new standard requires…
Kazakhstan will receive loans for several infrastructure projects, including construction of the Zhezkazgan-Karaganda highway and participation in the Kambarata-1 Hydropower Plant project in Kyrgyzstan, where Uzbekistan and Kazakhstan are partners. Read also: Where will Kazakhstan’s $28 billion infrastructure plan go? The loan agreement between Kazakhstan and organizations within the World…
Robinhood Markets Inc., a California-based provider of an electronic trading platform, has announced a new premium product — the Platinum card — aimed at high-income users, Reuters reported. The company’s Platinum card carries a $695 annual fee and offers cashback and other perks. Robinhood said these benefits could total up…
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…
KazMunayGas (KMG), Kazakhstan’s national oil and gas company, reported a record surge in its share price. During trading on the Kazakhstan Stock Exchange (KASE), the stock rose 11.32%, or 2,900 tenge, reaching 29,000 tenge ($58.19) per share. This was the first trading session since the U.S. and Israel launched attacks…
Kazakhstan’s OPEC+ April quota is set at 1.579 million barrels per day (bpd), according to the organization. Meanwhile, the March quota stands at 1.569 million bpd, up by 10,000 bpd. Overall, OPEC+ decided to increase oil production in April by 206,000 bpd: Algeria — 977,000 bpd (up 6,000 bpd); Iraq…
Kaspi.kz, Kazakhstan’s leading fintech company and a major e-commerce ecosystem, has launched a special financial support program for Kazakhstanis facing travel disruptions due to the situation in the Middle East. Read also: No reports of Kazakh casualties in Middle East — Foreign Ministry. The assistance is intended for citizens who…
Kazakh analysts are divided over how escalating tensions between Iran, Israel and the U.S. could affect Kazakhstan’s economy, particularly oil prices and export opportunities. Read also: Uranium and oil dip costs Kazakhstan a massive $4.1B. Some experts believe global markets have already priced in geopolitical risks, making a sustained rise…
Kazakhstan’s sovereign wealth fund Samruk-Kazyna plans to cut about 650 employees, according to the fund’s CEO Nurlan Zhakupov. The move follows criticism from President Kassym-Jomart Tokayev over what he described as an excessive number of administrative staff in the capital. Layoffs to target administrative staff in Astana Zhakupov said the…
Brussels is increasingly concerned about a sharp rise in Kyrgyzstan’s imports of radio equipment and machine tools that are later shipped to Russia in violation of Western sanctions, according to the European Union’s Sanctions Envoy David O’Sullivan. Read also: Ukraine’s war drives Kazakhstan’s exports of laptops, bulldozers to Russia. Speaking…
Kazakhstan may begin supplying horse meat to Japan later this year, according to Zhanibek Kenzhebayev, chairman of the Turan Livestock Association and owner of a farm with 3,000 horses. «We plan to begin supplying horse meat to Japan, possibly in May or June 2026, if direct flights are available,» Kenzhebayev…
