In March 2025, Kazakhstani banks reported a combined profit of $432.5 million, while the sector’s total profit for the first quarter reached $1.2 billion. Monthly profit fell by 5.8% year-on-year, while cumulative profit for the entire first quarter declined by 12%, according to the National Bank. The decline in profit…
Kazakhstan’s Ministry of Ecology said a court in Astana has upheld a 2.4 trillion tenge environmental fine imposed on a consortium of major international oil companies. The entities, which are part of the North Caspian Operating Company (NCOC), are continuing to appeal the ruling, Bloomberg reported. Supreme Court rejects appeal…
A Chinese mining company has established a new subsidiary in Kazakhstan with a registered capital of $150 million at the Astana International Financial Centre, according to a report by Finmentor. The company, Beijing Huaxia Jianlong Mining Science & Technology Co., Ltd., registered its local entity under the name Tianlong Mining…
Global tech giants such as Amazon, Microsoft and Google may be considering Kazakhstan as a location for data centers, amid rising geopolitical risks in other regions. Shifting focus after Middle East disruptions Speaking at the Kursiv Ecosystems Forum on April 17, Vladislav Minkevich, head of the AKASHI Data Center project…
Kazakhstan has seen an increase in the number of legal entities with foreign capital, rising 10% year over year to 65,952 companies, according to the Bureau of National Statistics. Regional neighbors drive growth The main drivers of this growth over the past year have not been Western countries, but Kazakhstan’s…
According to Kazakh economist Ruslan Sultanov, the structure of foreign investment in Kazakhstan has shifted. By the end of 2025, the manufacturing sector attracted more investment than mining for the first time. Gross foreign direct investment (FDI) inflows reached $20.4 billion, up 14.4% from $17.9 billion in 2024. The growth…
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…
