News

Kazakhstan and Azerbaijan have agreed to design and build a fiber-optic cable between the two countries on the Caspian Sea seabed. The arrangement was officially signed during a visit by Kazakhstan’s Prime Minister Olzhas Bektenov to Baku, Azerbaijan, as reported by Primeminister.kz   

«The project is of strategic importance for enhancing the quality and reliability of communications, as well as improving data transmission between Asia and Europe,» the press release stated.

The construction of the Trans-Caspian fiber-optic cable is expected to be completed in 2025. The project is being implemented by AzerTelecom and Kazakhtelecom, with...

Kazakhstan and China are strengthening their cooperation. The two sides plan to upgrade the Shymkent refinery. They have completed the first phase of modernization and intend to increase the refinery’s capacity to 12 million tons per year in the second phase.

To facilitate this process, the Ministry of Energy of Kazakhstan, KazMunayGas, PetroKazakhstan Oil Products and CNPC have agreed to sign a new agreement to begin expansion work.

Additionally, both sides plan to establish a joint venture to produce up to 1 million tons of carbamide per year to meet the needs of Kazakhstani farmers. The Chinese giant is expected...

Legendary Spanish tenor José Carreras will perform in Astana and Almaty in June 2025 as part of his farewell world tour.

Carreras made his first public performance at the age of eight and launched his professional career in 1970 at Gran Teatre del Liceu in Barcelona at the age of 24. He made his tenor debut in Norma, performing alongside the renowned soprano Montserrat Caballé.

Over the years, Carreras became one of the world’s most celebrated opera singers, earning acclaim for his interpretations of Giuseppe Verdi and Giacomo Puccini operas. He is also widely recognized for his role in The...

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 Freedom Broker’s review of prominent investment ideas for spring 2025.

In its survey, Freedom Broker also covered several Kazakhstani companies, whose stocks may show «quite a good performance.» These include KazMunayGas, which has a stake in the Tengiz field that is expected to significantly boost its production; Halyk Bank, with...

Starting March 3, offerings of securities with settlements in Chinese yuan are available on the Kazakhstan Stock Exchange (KASE), according to a statement from the exchange’s press office.

«New modes for securities offerings are implemented to provide additional opportunities for securities market participants to attract investors,» the release stated.

Securities can be placed through specialized trading, subscription and public offering. In late February 2025, Hong Kong-based fintech company AnchorX received approval to issue stablecoins, a type of cryptocurrency pegged to the yuan, in Kazakhstan.

Kazakhstan’s Energy Ministry is confident that Western sanctions against Russia will not target the Caspian Pipeline Consortium (CPC).

As the ministry told Kursiv.media, Kazakhstan has been negotiating with the U.S. Office of Foreign Assets Control (OFAC) since the beginning of the sanctions campaign to keep the CPC from coming under pressure. So far, the pipeline has not been affected and continues to have access to spare parts and equipment. This situation remained unchanged in the EU’s 16th sanctions package, the agency said.

For Kazakhstan, the CPC is the main export route for its oil and was designed for that purpose...

Studies suggest that frequent use of artificial intelligence (AI) is contributing to a decline in cognitive functions. In response, Kazakhstan plans to regulate AI to ensure that children do not lose the ability to think, analyze and engage in critical thinking, according to a recent presentation of the draft AI law in the Mazhilis, the lower house of Kazakhstan’s parliament.

MP Ekaterina Smyshlyayeva, the author of the draft law, stated that research shows frequent AI use can diminish critical thinking and analytical skills, posing a potential threat to children’s cognitive development.

«Just because you’re using AI...

Kazakhstani banks ramped up the issuance of cards within the Mastercard and Visa payment systems in January, according to the National Bank. This came amid reports that the validity period of cards issued to foreigners would be limited to one year.

As of Jan. 1, there were 54.6 million international payment cards in circulation in Kazakhstan, increasing to 56.7 million by Feb. 1. The month-on-month (MoM) increase was 2.1 million or 3.9%. According to Rbc.ru, this was the sharpest pace of increase since April 2023, when the number of cards rose by 4%.

A similar rate — 3.6% — was...

The Freedom Holding Corp. Kazakhstan Manufacturing PMI (Purchasing Managers’ Index) posted 52.1 in February, up from 51.5 in January. The index ranges from 0 to 100, with readings above 50 indicating growth and below 50 signaling contraction. The latest figure marks 12 consecutive months of strengthening operating conditions.

A key driver of February’s overall improvement was the ability for firms to secure new orders. New business increased for the 13th straight month, growing at a faster pace than in January. Respondents cited improved demand, new contract signings and the impact of advertising.

The increase in new orders led to a...

Kazakhstan has dramatically increased flower imports from China, surging nearly 13 times from $0.6 million in 2023 to $7.5 million in 2024. As a result, China is now the fourth-largest flower supplier to Kazakhstan, rising from its previous fifth-place position.

In 2024, Kazakhstan imported a total of $93.6 million worth of flowers, a 52.8% increase year-on-year (YoY) from $61.3 million.

The top five flower suppliers to Kazakhstan remain Ecuador, the Netherlands, Kenya, China and Colombia, collectively accounting for 97.5% of total flower imports. Even with a 13-fold increase in exports, China’s share of Kazakhstan’s flower imports only reached 8%, though...

Kazakhstan could export up to one million tons of grain to the European Union (EU) if no barriers to exports are set by Russian seaports, Kazakhstan’s Ambassador to Russia Dauren Abayev stated in an interview with Ria.ru. According to the official, Russia does not accept Kazakhstani grain for transshipment, prioritizing local traders instead.

«At numerous meetings and negotiations with our Russian counterparts, we are working to lift the limitations. This would allow Kazakhstan to export up to one million tons of grain to EU markets,» he said.

In 2024, Kazakhstan reported a grain yield of...

Uzbekistan’s President Shavkat Mirziyoyev has approved a new concept of state religious policy, according to the Gazeta.uz portal. The policy was introduced in response to recent attempts to impose religious-based rules that challenge gender equality, scientific progress and national interests.

Although Uzbekistan declared itself a secular state in 1992, the document notes that some citizens have advocated for religious-based restrictions, including:

Additionally, some individuals have questioned gender equality and certain civil servants have failed...

Qarmet, a Kazakhstani steel and mining company, is set to equip all of its mines with underground monitoring systems to oversee 14,000 mine workers in real time.

According to Yerbol Ismailov, managing director for sustainable development at Qarmet, the company is seeking to enhance safety at its facilities. During a meeting with members of the Senate, the upper house of Kazakhstan’s parliament, he revealed the company’s plans aimed at improving safety measures.

«Everything that happens in the mining industry, including the reasons behind strikes and accidents, is always on our agenda. The company’s approach to these...

Azerbaijan’s National Assembly (Milli Majlis) has proposed a law that would require men to make regular contributions to the country’s pension fund on behalf of their unemployed wives. The initiative was introduced by MP Mubariz Gurbanli during a conference marking the Year of the Constitution and Sovereignty of Azerbaijan.

The proposal specifically targets men who prohibit their wives from working.

«Some men do not allow their wives to work, which can impact their financial security in retirement. In such cases, a portion of the husband’s salary should be transferred to his wife’s pension account. This must...

Kazakhstan’s National Security Committee (KNB) is investigating Kazakhstani citizen Petr Miroshnichenko, not for mercenarism, but for participating in foreign armed conflicts, the agency told Kursiv.media.

«The KNB is conducting a pre-trial investigation under Article 172 (Participation in foreign armed conflicts) of the Criminal Code. Other details, under Part 1 of Article 201 of the Criminal Procedural Code, are not subject to disclosure,» the committee stated.

In Kazakhstan, a conviction for mercenarism carries a prison sentence of seven to 12 years, while participation in foreign conflicts is punishable by five to nine years.

On Feb...

On Feb. 27, Kursiv.media released the final issue of its business weekly in Kazakhstan, Tatyana Nikolaeva, editor-in-chief of the Kursiv newspaper, announced. Since its launch in 2002, the newspaper has published 1,073 issues and more than 10,000 pages of printed content.

“If you have been a regular reader of the newspaper, you may have noticed changes in print quality over the past several months. At the beginning of 2025, we had to switch to another print shop. These businesses are also disappearing as the space for print media continues to shrink in today’s digital world,” Nikolaeva...

Kazakhstan will require approximately $9.9 billion to service its public debt and cover the state budget deficit next year. By 2029, this figure could rise to $17.2 billion if there are no restrictions on withdrawals from the National Fund. According to Vice Minister of National Economy Azamat Amrin, raising taxes is the only way to prevent further growth of the state budget deficit.

The new Budget Code stipulates that increases in public spending cannot exceed the long-term average GDP growth over the past 10 years, adjusted for the inflation target. As a result, the ministry projects that spending will reach...

Kazakhstan scored just 23 out of 100 in Freedom in the World 2025, an annual ranking by Freedom House, a U.S.-based nonprofit organization. Freedom House evaluates countries based on political rights and civil liberties, categorizing them as «Free,» «Partly Free» or «Not Free.» Kazakhstan’s score and its corresponding «Not Free» status have remained unchanged for the past five years.

In 2024, Kazakhstanis saw no improvement in their level of freedom. The country scored only 5 out of 40 for political rights and 18 out of 60 for civil liberties.

Experts attribute Kazakhstan’s stagnant ranking to the ongoing persecution of opposition...

A group of Spanish experts will help Kazakhstan in exploring ground water in western Kazakhstan. The country’s Minister of Water Resources and Irrigation, Nurzhan Nurzhigitov, has successfully negotiated with Xcalibur Smart Mapping from Spain. The company, headquartered in Madrid, specializes in airborne and geophysical mapping and has representative offices worldwide, including Astana.

“This year, the two sides are set to conduct an airborne electromagnetic survey to compile maps and explore groundwater reserves in western Kazakhstan,” the agency wrote on Telegram.

According to the ministry, Nurzhigitov is also seeking a grant from the Spanish government to...

Kazakhstan’s government will limit the size of the targeted transfer from the National Fund, following multiple requests from the National Bank, which supervises the fund’s assets. The Ministry of National Economy has finally agreed with the financial regulator’s proposal and introduced concrete initiatives, according to Vice Minister of National Economy Azamat Amrin.

Every year, the cabinet resorts to assets from the National Fund to cover the state budget deficit through two types of transfers: guaranteed and targeted. A guaranteed transfer depends on the cut-off price for oil and has been set at $3.9 billion for the next three years. In...

Today, many people feel that we are living in an era of continuous, large-scale change. Timur Turlov, CEO of Freedom Finance, has observed how countries and industries are evolving rapidly, external relationships and dependencies are shifting, and traditional value chains are dismantled while new ones take shape. The global electronic distribution of products and services is challenging competition and national regulations. Multinational corporations are being replaced by global digital ecosystems. Meanwhile, products are becoming increasingly complex and companies’ profit centers are growing more elusive, a phenomenon that Timur Turlov frequently addresses in his market analyses and investment guidance.

Perhaps most...

According to Sungat Yessimkhanov, Kazakhstan’s deputy prime minister of energy, in 2024, the country spent approximately $199.6 million on electricity imported from Russia.

«We are talking about 100 billion tenge (approximately $199.6 million). We will provide a more precise figure later. We plan to reduce electricity imports from Russia, as we have effectively commissioned several new power plants. Our goal is to make our energy imports not to exceed two billion kilowatt-hours,» he said during a meeting with members of the Senate, the upper house of Kazakhstan’s parliament.

Yessimkhanov emphasized that by 2027, Kazakhstan will...

On Feb. 25, Alibek Kuantyrov, Kazakhstan’s deputy foreign minister, met with Nigeria’s Minister of Communication and Digital Economy Bosun Tijani to discuss the prospects of cooperation in space technologies, electronic government development and cutting-edge financial services. Kazakh officials also proposed that their Nigerian counterparts examine Kazakhstan’s digitalization practices and consider launching joint projects.  

Deputy Chair of Kazakh Invest Madiyar Sultanbek held talks with the Nigerian Investment Promotion Commission on attracting foreign funds and also met with local financial officials. The Nigerian side expressed interest in Kazakhstan’s approach to managing state-owned corporations and financing large projects through special funds.

The...

Amazon Kuiper is anticipated to launch its satellite internet services in Kazakhstan next year. Meanwhile, the company is preparing to roll out commercial services across the country, as reported by Kazakhstan’s Ministry of Digital Development.

The ministry’s officials have already discussed a wide range of issues related to the deployment of the Kuiper network in Kazakhstan with representatives of Amazon.

«The new solution will provide high-speed internet access to regions where traditional network infrastructure operates inefficiently. Amazon is set to launch commercial services in Kazakhstan in 2026,» the agency said in a statement.

The ministry...