The number of billionaires worldwide continues to rise, but a key shift is underway: Europe is strengthening its position and could narrow the gap with the U.S. According to a report by Knight Frank, the global billionaire population is projected to reach 3,110 in 2026, up from 2,723 in 2021…
Iranian company Golrang Industrial Group is planning to construct an oil extraction plant and a broiler poultry farm totaling around $120 million, Kazakhstan’s Ministry of Agriculture reported. «As part of efforts to attract foreign investors, an agreement has been reached with the Iranian Golrang Industrial Group to implement two major…
Increased competition between Kazakhstan and Uzbekistan is a positive development for Kazakhstan’s economy, political scientist Dossym Satpayev said in an interview with Armanzhan Baitassov. Central Asia emerging as an «island of stability» «Currently, two regions stand out for relative stability and investor interest: the Caucasus — particularly Azerbaijan — and…
Kazakhstan has no plans to change its format of participation in the OPEC+, the country’s Energy Ministry said. «Currently, the issue of changing the country’s format of participation in the alliance is not on the agenda,» the ministry said in a statement. Market context Reports that the United Arab Emirates…
The National Bank of Kazakhstan may cut its base rate at its June meeting, according to Akylzhan Baimagambetov, deputy governor of the central bank. «A transition to a lower base rate is possible if inflation slows sustainably. Currently, the National Bank is closely monitoring the economic situation to make a…
The United Arab Emirates will withdraw from OPEC and the broader OPEC+ alliance on May 1, ending nearly six decades of membership to pursue a sovereign energy strategy, Gulf News reported. The decision terminates a partnership that began in 1967, allowing the federation to now determine its oil output independently…
Petroleum continues to be a primary driver of international economic stability and political influence. A recent ranking by World Population Review highlights how various nations manage this finite resource, ranging from absolute reliance to strategic diversification. The Middle East powerhouses Saudi Arabia remains a central figure, controlling nearly 17 percent…
Chinese investors planning to build a locomotive plant in Atbasar, northern Kazakhstan, have failed to secure the necessary funding, prompting the government to search for a new investor. According to Deputy Transport Minister Maksat Kaliakparov, construction of the plant in the Akmola region has been delayed due to the investor’s…
Kazakhstan increased exports to France, Turkey and the United Kingdom early this year, while its trade share with Italy and Russia declined, economist Ruslan Sultanov said on his Tengenomika channel. At the same time, the country is becoming increasingly dependent on industrial imports from China and Russia, he noted. Strategic…
A waste incineration project by Junxin Environmental Protection is moving forward in Almaty, with construction planned in the city’s Alatau district. Project scope and capacity The facility is designed to process up to 2,000 tons of waste per day and generate as much as 60 megawatts of electricity, which will…
Two IT hubs with a combined floor area of approximately 80,000 square meters are set to be launched in Almaty. The first is expected to open later this year, while the second — roughly the size of 10 football fields — will be built from scratch, according to Almaty Deputy…
The rise of remote work has fundamentally altered how American households consume and spend, according to a new study published by the National Bureau of Economic Research (NBER). Researchers utilized data from the Nielsen Consumer panel to track how the shift to working from home (WFH) has influenced shopping modalities,…
Despite a broader global trend toward easing monetary policy, the start of 2026 introduced new uncertainty tied to the conflict in the Middle East. In response, central banks in the world’s largest economies have avoided firm forward guidance, preserving flexibility to react quickly to potential inflation shocks. Against this backdrop,…
Platform workers should be guaranteed basic labor benefits — including the right to paid vacation and sick leave — according to Kazakh lawmaker Bibigul Zheksenbai. She has also proposed introducing a minimum hourly wage for platform workers. Proposal targets drivers and couriers The initiative would apply to taxi drivers and…
Kazakhmys Copper, which consolidates the copper assets of Vladimir Kim, will not delist from the Kazakhstan Stock Exchange. The decision was made by the company’s sole shareholder. The shareholder reversed an earlier decision, announced April 14, to voluntarily delist the company’s shares from KASE. As a result, the shares will…
The Kaspi.kz app has introduced a new «split bill» feature that allows users to divide payments among multiple people after a shared order at a café or restaurant, according to Finratings. How it works The process is straightforward: one person pays the full bill using Kaspi QR. After the transaction,…
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.…
