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…
The North Caspian Operating Company (NCOC), operator of the Kashagan oil field, has lost its appeal of a 2.3 trillion tenge environmental fine in Kazakhstan’s Supreme Court. Oil and gas industry expert Nurlan Zhumagulov said on his Energy Monitor channel that the company is delaying payment pending a decision by…
The Senate of Kazakhstan has approved an agreement with Uzbekistan and Azerbaijan to create a shared corridor for green energy. The project aims to link Central Asia’s energy systems with Europe. Under the plan, electricity will initially be transmitted via a cable across the Caspian Sea to Azerbaijan, then routed…
According to Freedom Holding Corp. (FRHC) partner Vladimir Pochekuev, who also serves as chairman of the board of directors of Freedom Broker Global Markets (UAE) and Freedom Yatirim (Turkey), FRHC is considering acquiring a bank in Armenia. The key obstacle to this move is the relatively high cost of financial…
Kazakhstan’s oil and gas companies are gradually increasing their use of locally sourced materials and suppliers, though progress remains uneven. A former manager at Tengizchevroil (TCO) says internal concerns — including fear of lobbying accusations and inflated pricing by domestic producers — continue to slow broader adoption. Former TCO manager…
Tiryaki Agro Holding, one of the largest agro-holdings in Turkey, intends to build a vegetable oil processing plant in the North Kazakhstan region, the regional administration announced. The plant will be located in the Qyzyljar Special Economic Zone in Petropavlovsk. With a capacity of up to 1,500 tons of product…
Kyrgyzstan has openly expressed frustration that, following the outbreak of the war in Ukraine, European countries sharply increased investment in Kazakhstan and Uzbekistan while largely overlooking Kyrgyzstan, Tazabek reported. Investment concentrated in two countries Kyrgyzstan’s ambassador to Germany, Omurbek Tekebayev, told a parliamentary committee meeting on April 7, 2026, that…
Kazakhstan is planning to launch two plants that will convert coal into diesel fuel, Energy Minister Yerlan Akkenzhenov said at a recent cabinet meeting. Coal-to-chemicals projects expand According to Akkenzhenov, three major coal chemical industry projects are currently underway. These include: A metallurgical coke plant in the Karaganda region with…
South Korea’s chief of staff will visit Kazakhstan and other oil-producing countries to negotiate raw material supplies. The country is suffering difficulties due to delays in oil transit through the Strait of Hormuz, Reuters reported. Kang Hoon-sik will arrive in Astana as a special representative of South Korean President Lee…
The International Finance Corporation (IFC) continues to help Kazakhstan attract private investment, diversify its economy and improve its infrastructure and financial systems, according to Lisa Kaestner, IFC director for Turkey, Kazakhstan and Uzbekistan. «Kazakhstan remains attractive for foreign investment due to its strategic location and resource base,» she told Kursiv.media,…
On April 6, the Kazakhstan Stock Exchange (KASE) launched trading in the currency pairs involving the Arab dirham, the exchange said in a statement. In particular, since April 6, 2026, the official KZT/AED exchange rate has been set on KASE. However, market participants can trade both the AED/KZT pair and…
Kazakhstan has delivered its first batch of halal-certified products to Saudi Arabia after receiving official accreditation, becoming the first country in Central Asia to obtain such certification from the kingdom. Access to a demanding market Saudi Arabia is one of the most stringent markets for halal products, according to KazStandard.…
A hydrocarbon field comparable in scale to the Kashagan oil field could be discovered at significant depths on the Zhylyoi platform, according to Kurmangazy Iskaziyev, first deputy CEO of KazMunayGas (KMG), Kazakhstan’s national oil and gas company. Exploration is expected to target depths of between 5 and 9 kilometers. Large-scale…
Croatia will take part in the exploration and production of hydrocarbons at the Shygys site in the Aktobe region, western Kazakhstan, the Ministry of Energy reported. The contract was signed by the ministry, KazMunayGas and Geoenergija Razvoj d.o.o — a subsidiary of the Croatian Hydrocarbon Agency — during the Geoscience…
According to Kazakhstan’s Ministry of Trade, Chinese company Fujian Hengwang Investment plans to build a large steel plant in the country. The announcement followed a visit to China by Minister of Trade and Integration Arman Shakkaliyev. The company is ready to invest about $1.2 billion in the project, with a…
