Kazakhstan’s external debt reached a historic high in 2025. Below is an overview of the country’s external debt profile by sector, creditor type and creditor country. The data are visualized by Nurasyl Abdrazakuly, a Kazakh data scientist and a frequent contributor to our infographics, using official figures from Kazakhstan’s National…
Kazakhstan is set to expand its gambling zones under a new law approved by the Mazhilis, the country’s lower house of parliament, in its second reading. In addition to the already active zones in Borovoe and Qonaev, casinos may be established along the Caspian Sea coast in the Mangystau region,…
Senior executives at Kazakhstan’s ForteBank say remote work undermines teamwork, discipline and corporate culture, arguing that the physical office remains essential to how the bank operates. Timur Issatayev, chairman of the board, and Talgat Kuanyshev, CEO, shared their views during a recent podcast on the YouTube channel «Two Meters.» Office…
Kazakhstan’s National Bank has approved the launch of three pilot projects involving digital assets, including a pilot that would allow cryptocurrency payments via QR codes, the regulator’s press office said. Three areas selected for testing According to the National Bank, the pilot projects will focus on three key areas: QR-code…
Cryptocurrencies cannot be used to pay for goods and services in Kazakhstan, according to Madina Abylkassymova, head of the Agency for Regulation and Development of the Financial Market, who spoke at a recent parliamentary hearing. Her comments came as Kazakhstan’s Senate reviewed a new law on banks and banking activities…
On Dec. 29, one of South Korea’s the largest restaurant franchise groups, Genesis BBQ, which specializes primarily in fried chicken, announced it had signed a master franchise agreement with Kazakhstan-based Restopark KZ LLP, Yonhap reported, citing the company’s press release. The development marks the company’s entry into the Central Asian…
Kazakhstan’s Deputy Prime Minister and Minister of Culture and Information Aida Balayeva announced that a new Tax Code will authorize inspections of organizations that receive foreign funding. Inspections to begin in 2026 Starting Jan. 1, 2026, tax authorities will be permitted to conduct inspections of organizations receiving international funding. The…
The Portuguese company Mota-Engil, whose main shareholders include China Communications Construction Co. (CCCC), is in talks to buy the Brazilian mining company Bamin, which is owned by Kazakhstan’s Eurasian Resources Group (ERG), sources told the Brazilian outlet Valor International. Bamin’s Brazilian concession Bamin holds a concession for a section of…
Kazakhstan’s Minister of Economy Serik Zhumangarin has compared upcoming value-added tax increases in Kazakhstan and Russia, saying the process moved more slowly at home because of extended discussions with businesses and the public. Speaking at a recent press briefing, Zhumangarin was asked about the effectiveness of Kazakhstan’s tax reform. He…
According to Nurdaulet Kilybay, governor of Kazakhstan’s Mangystau region, the Chinese company Zhongyong International plans to begin construction of a new seaport in Aktau next year. The first phase of the project alone is expected to cost $300 million. The agreement follows several years of negotiations with the company that…
In recent years, Kazakhstan has invested about $680 million in Uzbekistan, according to the Eurasian Development Bank (EDB). Companies owned by Kazakhstan’s wealthiest businessmen have accounted for a significant share of that investment, Margarita Bocharova, an author with the Shishkin_like project, wrote in a recent review. EDB analysts say more…
The world’s largest uranium supplier Kazatomprom and one of Japan’s largest electric utilities, Kansai Electric Power Company, have agreed on supplies of Kazakhstani uranium to Japan’s nuclear power plants, Kazatomprom said in a statement. According to the statement, the agreement is important for Japan as the country gradually resumes nuclear…
Jim Beam, owned by Japanese Suntory Global Spirits, will stop production at its main Kentucky distillery for all of next year due to planned upgrades of the site, as reported by the BBC. The company said the decision was made after reviewing production needs based on expected demand for 2026.…
Japanese trading and investment company Sumitomo Corporation, jointly with Kazatomprom, is developing a project in nuclear medicine, aiming to extract medical isotopes from uranium, the Akorda press service reported. President Kassym-Jomart Tokayev met with Shingo Ueno, president and CEO of Sumitomo Corporation, who reported on the joint project with Kazatomprom.…
Sanctions pressure from the EU and the U.S. on Russia continues to intensify, with growing implications for Kazakhstan’s economy. These measures threaten not only asset freezes but also civil and regulatory liability for transactions conducted through Western jurisdictions. Kursiv.media spoke with Andris Ivanovs, an expert at the British law firm…
Singapore-based holding company Food Empire has invested 6.7 billion tenge (about $13 million) in the construction of a tea and coffee production facility in Khorgos, a key gateway city linking Kazakhstan and China. The plant will produce instant coffee under the popular MacCoffee brand. Khorgos emerges as manufacturing hub Speaking…
BAE Systems, the U.K.’s largest multinational aerospace and defense company, has decided to sell half of its stake in Air Astana, Kazakhstan’s national carrier, according to Reuters. Once the deal is completed, the British company’s shareholding will fall from 16.95% to approximately 8%. In 2024, BAE Systems had already reduced…
TotalEnergies has announced that Chinese firms Shanghai Institute of Mechanical and Electrical Engineering and Shanghai Electric Group, along with Kazakhstan-based GCD Partner, have joined a consortium of contractors tasked with designing and building the 1-gigawatt Mirny wind farm in Kazakhstan’s Zhambyl region. Project ownership and partnerships TotalEnergies holds a 60%…
Papa John’s recently announced its withdrawal from Kazakhstan and Kyrgyzstan after losing market share to more flexible regional rivals such as Dodo Pizza, analysts at Teniz Capital Investment Banking said. The U.S.-based pizza chain entered Kazakhstan in 2018, opening 15 restaurants but failing to keep pace with fast-growing local competitors.…
BOE Technology Group Co. Ltd., a China-based manufacturer of display panels, including LCD, OLED and LED screens, is set to establish an LED display and next-generation component factory in Alatau, Almaty region, according to the region’s governor’s office. «A memorandum of cooperation was signed between the region’s Department of Entrepreneurship…
On Dec. 11, South Korea’s Ministry of Trade, Industry and Resources (MOTIR) announced that the Korea-Mongolia Rare Metals Cooperation Center would be officially opened on Dec. 12 in Ulaanbaatar, Yonhap reported. The center, located within the University of Science and Technology will study critical metals, such as tungsten, molybdenum, lithium…
The American restaurant franchise Papa John’s is closing all its locations in Kazakhstan and Kyrgyzstan. Franchisee cites revenue decline, rising costs Restaurateur Daniyar Monolbai announced on social media that his company is ending its role as the master franchisee for Papa John’s in both countries. He said the decision was…
Kazakhstan’s copper-mining giant Kazakhmys is preparing for a change in shareholders, the company announced. Agreement reached between current leaders According to the statement, Kazakhmys President Vladimir Kim and Chairman of the Board of Directors Eduard Ogay have mutually agreed to transfer ownership. The formal sale and purchase agreement is expected…
On Dec. 10, South Korea’s Hyundai Rotem, a subsidiary of Hyundai Motor Group specializing in rail systems and defense solutions, announced the shipment of the first batch of high-speed trains to Uzbekistan, marking the country’s first export of domestically developed high-speed trains, Yonhap reported. The order consists of 42 cars…
