For years, the U.S. has ranked among the largest investors in Kazakhstan. But in 2023, foreign direct investment (FDI) from the U.S. dropped by nearly 80%. In 2024, the country recorded a net outflow of $870 million in U.S. investment, the first such outflow since data tracking began in 2005,…
Kazakhstan’s open defiance of OPEC+ production cut commitments is raising questions about whether the country may exit the alliance, potentially triggering a painful price war at a time of global market volatility, according to the Reuters news agency. Kazakhstan’s Energy Minister Yerlan Akkenzhenov told Reuters on Wednesday, April 23, that…
Kazakhstan, which has frequently exceeded its oil production quotas under the OPEC+ agreement, will independently set its output levels in the future, Energy Minister Yerlan Akkenzhenov said in a recent interview with Reuters. Akkenzhenov emphasized that the ministry will fully support increased production at the country’s largest oil field Tengiz,…
Arbitration proceedings over Kashagan — Kazakhstan’s largest oil field located on the Caspian shelf — could drag on until 2028, according to a new investigation by the International Consortium of Investigative Journalists (ICIJ). ICIJ’s findings are based on a confidential interim ruling in a $160 billion case, which centers on…
The Development Bank of Kazakhstan (DBK), a subsidiary of Baiterek Holding, has borrowed €200 million from the European Investment Bank (EIB). This money will be spent on the support of energy and transport infrastructure, as reported by the Kazakhstan Stock Exchange (KASE). Over the past year, the DBK has already…
Foreign investors began pulling out of Kazakhstani securities after U.S. President Donald Trump announced new tariffs on imported goods from more than 180 countries, according to National Bank Chairman Timur Suleimenov. He addressed the issue during a press briefing on April 11, adding that the situation has since stabilized. Suleimenov…
Kazakhstan’s Agency for Regulation and Development of the Financial Market (ARDFM) is set to allow traditional banks to provide services under the Islamic window format. This is specified in a new draft law on banks and banking activities, which Dauren Salimbayev, director of the Department of Methodology and Prudential Regulation…
Kazakhstan has proposed a uranium mining and fuel supply deal to support Turkey’s growing nuclear energy ambitions, according to Baurzhan Duisebayev, CEO of the Chemical Engineering Design Bureau. «Suddenly, Turkey is leading the way: four reactors are under construction there, and it could become a valuable new partner for Kazakhstan,»…
Kazakhstan is eyeing a mining boom and seeking partners in Canada. During a recent visit to Toronto, Renat Bekturov, governor of the Astana International Financial Centre (AIFC), estimated the value of Kazakhstan’s untapped mineral resources at $40 trillion. He invited Canadian companies to play a role in developing these resources.…
Kazakh Invest, Kazakhstan’s national investment promotion agency, has addressed the recent decline in foreign direct investment (FDI) to the country. In 2024, gross FDI inflows dropped by 28%, from $23.9 billion to $17.1 billion. Meanwhile, net FDI turned negative for the first time since records began in 2005, reaching -$2.55…
Global stock markets took a sharp dive following the U.S. announcement of new import tariffs targeting more than 180 countries. Kazakhstan’s stock exchange followed suit: on April 4, the KASE index dropped 2.7% to 5,522 points. Analysts surveyed by Kursiv.media warn the market may face continued pressure in the days…
Oil and uranium account for 73% of Kazakhstan’s exports to the U.S. This category of goods is likely to be exempt from new tariffs imposed on trade partners of the U.S. by President Donald Trump. The White House has already published a document listing goods free of new duties. The…
Kazakhstan’s National Fund has declined by 819.8 billion tenge (approximately $1.6 billion) since the beginning of the year, according to the Ministry of Finance. In early January, the fund stood at nearly $65.8 billion, but by the end of March, it had dropped to about $64 billion at the current…
The Agency for Regulation and Development of the Financial Market (ARDFM) of Kazakhstan has drafted several laws aimed at regulating investment funds. These drafts are available for public review at Legalacts.egov.kz. Currently, all joint-stock, mutual, venture, Islamic and real estate funds in Kazakhstan are regulated under the law on Investment…
In 2021, Freedom Bank launched its digital mortgage. Since then, the bank has issued 33,500 loans worth $1.2 billion to Kazakhstanis from various walks of life, Timur Turlov, the founder and CEO of Freedom Holding Corp., reported at a government briefing. «Our product — digital mortgage — allows borrowers to…
Halyk Bank shares have reached a multi-year high on the Kazakhstan Stock Exchange (KASE), peaking at 304.88 tenge ($0.61). At the time of publication, the shares were trading at 299.43 tenge ($0.59) per share. This marks the highest level since February 2011, when Halyk Bank shares were traded on KASE…
Kazakhstan’s Prime Minister Olzhas Bektenov has signed a government decree granting Altyn Group Qazaqstan, a subsidiary of the British A Gold Plc, a temporary lease on a 71.37-hectare plot within the former Semipalatinsk nuclear test site. The company plans to expand gold mining operations in the Abay region, where the…
Teniz Capital Brokerage LTD, a sister company of Teniz Capital Investment Banking registered with the Astana International Financial Centre (AIFC), has acquired a 49% stake in the Tabys mobile investment application, as announced by the AIFC. The deal’s value remains undisclosed. According to Tabys representatives, the company does not plan…
Dozens of Kazakhstani investors who lost money through real estate investments on the Proportunity platform plan to file a lawsuit in the Astana International Financial Centre (AIFC) court against the Astana Financial Services Authority (AFSA), AIFC’s independent regulator. The investors, who accuse AFSA of inaction and failing to protect their…
In 2024, Air Astana, Kazakhstan’s national airline, and its low-cost subsidiary FlyArystan generated $1.3 billion in revenue, a 12.4% increase year-on-year (YoY), according to the company’s statements posted on the Astana International Exchange (AIX) website. The growth was driven by passenger and cargo revenues, as well as an aircraft engine…
Orano, a French nuclear fuel company, and Navoiyuran, Uzbekistan’s state-owned uranium mining enterprise, have signed an agreement to advance the industrial development of the South Djengeldi uranium deposit, Orano announced in a statement. Under the deal, uranium production is expected to ramp up to 700 tons per year within the…
Kazakhstan’s fintech giant Kaspi.kz plans to acquire the Turkish subsidiary of the Dutch Rabobank, according to Bloomberg, citing people familiar with the matter. As reported by the media company, the negotiation process is underway, and no final decision has been made. Any potential deal must be approved by Turkish regulators.…
According to Viktoria Ten, vice president of the Association of Kazakhstan’s Developers (AZK), if the value-added tax (VAT) is raised from 12% to 16% and developers lose their VAT exemption, housing prices will increase by 14%. Speaking at the Krysha Novostroiki conference, the expert also discussed the so-called social infrastructure…
A possible acquisition of Jusan Bank by Vyacheslav Kim, a majority shareholder in Kaspi.kz and the richest person in Kazakhstan, may lead to synergy between the two financial institutions. It would also be an additional driver for Kazakhstan’s stock market, analysts from Freedom Broker believe. They made this assumption within…
