News

Kazakhstan’s renewable energy capacity could reach 19 gigawatts (GW) by 2030, representing at least 30% of the nation’s total generating capacity, according to Nabi Aitzhanov, CEO of the Kazakhstan Electricity Grid Operating Company (KEGOC). To support this expansion, the country would require a minimum of 3 GW of energy storage capacity.

«Kazakhstan has already issued technical specifications for renewable energy projects totaling 19 GW. These are projects that could be implemented by 2030,» Aitzhanov told reporters at a recent energy storage forum. «The preliminary volume we currently project for energy storage is 3 GW.»

The...

Kazakhstan’s National Bank has released the results of its latest macroeconomic survey conducted between May 14 and May 20 among representatives of analytical centers and financial organizations. Experts who participated in the survey have revised their expectations for several key economic indicators.

Inflation

The inflation forecast for late 2025 has been revised upward from 10.6% to 10.7%, and from 6.1% to 6.8% for 2027. These adjustments reflect rising inflation expectations and continued pressure on consumer prices. The inflation rate in April stood at 10.7%.

Base rate

Amid inflationary risks, analysts have adjusted their forecasts for the base rate upward...

Kazakhstan’s state-owned Samruk-Kazyna National Welfare Fund and the Rwanda Mines, Petroleum and Gas Board (RMB) have signed a cooperation agreement, as reported by the fund’s press service.

Under the agreement, Kazakhstan will acquire beryllium extracted in Rwanda to meet the needs of uranium giant Kazatomprom.

RMB is a Rwandan government agency that regulates and manages the production of oil, gas and other natural resources.

Furthermore, on May 28, President Kassym-Jomart Tokayev held talks with Rwandan President Paul Kagame, who arrived in Kazakhstan on an official visit. During the meeting, the two sides discussed logistics for delivering Kazakhstani agricultural products to...

Freedom Holding Corp. has announced that its shares will be included in the Russell 3000 stock market index, which tracks the performance of the largest American companies.

The stock will be added to the U.S. index on June 27, 2025, after market close. The Russell 3000 Index comprises more than 3,000 publicly traded companies, representing 98% of the U.S. equity market. According to Freedom Holding Corp., being included in such a benchmark reflects investor recognition and could attract interest from global investment funds such as the iShares Russell 3000 ETF (IWV) and the Vanguard Russell 3000 ETF (VTHR).

First Heartland Jusan Bank, operating under the Jusan Bank brand, has announced its rebranding, changing its name to Alatau City Bank. The decision was made during the annual general shareholders’ meeting held on May 15. The bank highlighted that the new name reflects its strategy and ambitions.

The name will be legally changed once state re-registration is completed. The company cited further development and modernization as the reasons for the move.

«Renaming the bank is more than just changing the signage. It reflects our strategy, ambitions and vision for the future development of the financial...

A hydrogen gas release caused a fire on May 26 at the Bolashak mine in Kazakhstan’s Aktobe region, forcing a suspension of operations. The mine is part of the Donskoy Ore Mining and Processing Plant, operated by Kazchrome, one of the country’s leading chromium ore producers and a major global supplier of ferroalloys.

Three on-duty electrical fitters suffered burns to their faces and hands. All three were hospitalized in Khromtau, with two in intensive care in serious condition, and the third in moderate condition in the trauma department, according to the Diapazon.kz news portal.

Kazakhstan’s Ministry of Emergency Situations reported...

Four women in Tajikistan have been detained on suspicion of providing magical services, according to the Asia-Plus news agency.

The arrests took place in the Khatlon region. The Ministry of Internal Affairs identified the suspects as:

The women are being charged under the Code of Administrative Offenses for witchcraft and fortune-telling. Their cases are expected to be sent to court, where they could face significant fines.

The ministry urged citizens not to consult fortune tellers and encouraged the public to...

Several media outlets in Georgia have reported that one of the most recognizable, although controversial, buildings in Tbilisi, the Music Theatre and Exhibition Hall designed by architect Massimiliano Fuksas, may be dismantled. The pipe-shaped structure is located in the capital’s Rhike Park.

The Italian architect completed the hall in 2012 under President Mikheil Saakashvili. As such, the building is widely associated with the previous Georgian administration. Although the complex was intended to become a center for contemporary art, it has never been used for its original purpose and has remained empty.

The «pipes» have changed hands multiple times since...

Kazakhstan’s Ministry of National Economy reported that the government failed to meet its 2024 national budget goals, particularly in reducing the non-oil deficit, which excludes revenues from the oil and gas sector. The ministry attributed the shortfall to unexpectedly high revenues from the oil export duty.

The government’s long-term fiscal strategy, outlined in its public finance management concept through 2030, targets a reduction of the non-oil deficit to 5% of GDP by the end of the decade. A milestone of 7.9% of GDP had been set for 2024, but the actual figure came in slightly higher, at 8% or roughly...

France and Kazakhstan have been implementing 10 joint projects with a total value of $1.1 billion, creating 2,000 new jobs. Six of these projects, worth $900 million, are already complete, according to Yersaiyn Nagaspayev, Kazakhstan’s minister of industry and construction, who spoke at the Kazakhstan-France business forum in Astana.

Counting already implemented projects, the minister mentioned Alstom’s locomotive production facility in Astana ($392 million); Schneider Electric’s pressure sensor production in the Atyrau region ($6.3 million); Vicat’s cement plant in the Zhambyl region ($467 million); Air Liquide’s compressed air and nitrogen facility in the Atyrau region ($16 million); Saint-Gobain’s building materials...

Minister of Industry and Construction of Kazakhstan Yersain Nagaspayev has offered French companies the opportunity to purchase critical minerals from Kazakhstan. The official made this proposal during the Kazakh-French business forum in Astana today.

«We already can supply 21 types of critical materials from the EU’s list of 34. Moreover, in the medium term, we can ensure supplies of the remaining 13 types. Kazakhstan is ready to serve as a reliable supplier of critical raw materials and to enter into offtake contracts [with producers] in exchange for stable supply commitments,» Nagaspayev said.

The minister also noted that Kazakhstan already has...

Kazakhstan will open a cultural center in Beijing, according to a decree recently signed by Prime Minister Olzhas Bektenov.

The plan to establish the center was first revealed last year when Kazakhstan’s Senate, the upper house of parliament, ratified agreements signed in 2023 with China to open cultural centers in both countries.

Kazakhstan’s Ministry of Culture and Information will oversee the new institution.

The center will feature a multifunctional hall for events and film concerts, a library, exhibition and multimedia spaces, and a dedicated tourism corner.

The Kazakh Cultural Center in Beijing will employ 13 people, three from Kazakhstan and...

Almaty and Astana have been recognized as the top cities in Central Asia, according to the 2025 Global Cities Index by Oxford Economics. On the global scale, the Kazakhstani metropolises outperformed Moscow. Meanwhile, New York was ranked number one in the world.

Specialists at Oxford Economics annually assess the world’s 1,000 largest cities using five criteria: economy, human capital, environment, governance and quality of life. Although the authors of the index admitted that evaluating cities’ challenges and prospects can be a complicated task due to structural differences of urban areas across regions, they maintain that the Global Cities Index...

On May 29, a new international tourist train will depart from Xi’an, China, to Almaty, Kazakhstan, arriving on May 31, according to Kazakhstan’s Tourism Industry Committee.

More than 250 passengers are expected on the inaugural journey, including not only tourists but also civil servants, researchers, physicians, athletes and Vice Mayor of Xi’an Xiao Qi. The group will stay in Almaty for five days, with the return trip scheduled for June 5.

A full itinerary has been prepared for the visitors, including attendance at the opening ceremony of Shaanxi-Almaty Week, participation in conferences and business meetings, and guided tours of Almaty’s...

Freedom Holding Corp. has taken first place among financial companies in the ranking of the most attractive employers in Kazakhstan, compiled by the recruiting company Ancor. The study covered 50 of the country’s largest companies.

First place across all sectors was taken by Tengizchevroil, the operator of the Tengiz oil field in the West Kazakhstan region. Almost 70% of the 1,700 respondents named TCO as attractive in terms of employment, while 35.14% said it is recognizable. Karachaganak Petroleum Operating (operator of the Karachaganak field), Kazatomprom, KazMunaiGas and ERG rounded out the top five employers.

Freedom Holding Corp. (FRHC) ranked 15th...

Kazakhstan and Uzbekistan have agreed to establish an international academic hub for diagnosing and treating childhood cancers. This announcement was made at a conference on child health in Central Asia held in Tashkent, according to the Ministry of Healthcare of Kazakhstan.

Kazakhstan’s Minister of Healthcare Akmaral Alnazarova held talks with her Uzbek counterpart Asilbek Khudayarov on developing joint healthcare projects, sharing expertise and improving the quality of treatment. Among the key topics discussed was the environmental impact on human health, particularly in the area surrounding the Aral Sea.

Kazakhstan proposed taking the lead in establishing a hub that will serve...

Ticketon.kz has released ticket prices for Jennifer Lopez’s Aug. 10, 2025, concert at Central Stadium in Almaty.

The most expensive seats, located in the VIP zone directly in front of the stage, are priced at 180,000 tenge (about $350). Seats in rows closest to the stage are slightly cheaper, at roughly $312. Fan zone and side-section seats are priced around $235, while dance floor tickets cost approximately $175. In more distant sections, prices range from $78 to $156.

Ticket sales opened at 10 a.m. local time on May 28 through Ticketon.kz.

To accommodate the concert, the Kairat football club...

Maten Petroleum, an oil-producing company, reported that its net income in 2024 decreased to 12.1 billion tenge (approximately $23.6 million). This marks a 3.1-fold decrease, as the figure stood at 38 billion tenge ($74.2 million) in 2023. Notably, this is the second consecutive year the oil producer has seen a drop in net income, as Maten Petroleum earned 43.05 billion tenge ($84.1 million) in 2022.

The company’s revenue stood at 127.37 billion tenge ($248.6 million) in 2024, down from 162.52 billion tenge ($317.2 million) in 2023. Meanwhile, Maten’s general and administrative expenses in 2024 reached 17.5 billion tenge ($34.2 million...

Kursiv.media compared five-night stays at Rixos resort hotels in Egypt, Turkey and Kazakhstan, finding that Rixos Water World Aktau is, on average, 36% cheaper than similar Rixos hotels in Turkey and 20% cheaper than those in Egypt.

The comparison was based on bookings for two adults from Aug. 1 to 6, 2025, in a standard room with a king-size bed, garden or mountain view, and all-inclusive meals.

Kazakhstan

Rixos Water World Aktau
Located 48 kilometers from Aktau Airport, this resort features a water park, swimming pool, fitness center, spa, hammam steam room, tennis courts and a kids’ club. Guests can...

Asia is increasingly emerging as a key force in the global economy and political landscape. The meeting of the Experts Club under the Senate focused on the prospects of the «Asian Century» and the role of middle powers amid the ongoing global crisis.

The event was attended by Senate Speaker Maulen Ashimbayev, Professor Kishore Mahbubani — a renowned Singaporean diplomat — and Timur Turlov, a Kazakhstani businessman and CEO of Freedom Holding Corp.

«This meeting takes place against the backdrop of a global security crisis and rising geopolitical tensions. Previous models of cooperation have become outdated...

In the first quarter of 2025, Kazakhstan’s oil exports dropped more than 20%, driving a 12% decline year-on-year in the country’s total exports. Copper cathode exports also fell 15%. As a result, Kazakhstan’s exports to its three main markets — the European Union, China and Russia — have declined.

Kazakhstan’s oil exports

Kazakhstan’s top 10 export items, excluding oil

Kazakhstan’s top 10 fast-growing export items

Kazakhstan’s major export destinations

Kazakhstan’s oil exports

In the first quarter (Q1) of 2025, Kazakhstan’s total exports fell by $2.2 billion to $16.4 billion, an 11.9% decrease year-on-year (YoY). The...

According to the latest pension index, published annually by the prominent insurance company Allianz, Kazakhstan was ranked 26th out of 71 countries, with a grade of 3.5. This marks a significant improvement since 2023, as the country climbed eight positions. This year, Kazakhstan outperformed Slovakia, Indonesia, Cyprus, Malta, Austria, Singapore and China, but fell behind Greece, South Korea and Finland. The top three leaders are Denmark, the Netherlands and Sweden.

The index’s authors considered several parameters divided into three sub-indexes: starting points, sustainability and adequacy. Adequacy refers to the ability of pension benefits to cover basic human needs, the...

According to Yersain Nagaspayev, Kazakhstan’s minister of industry and construction, the new PepsiCo plant will be located in a special economic zone offering tax benefits.

When asked about state support for the chip plant, which PepsiCo plans to build in the Almaty region, the minister said the launch of such a large investment project is a positive development for the country.

«The goal of investment projects is to ensure that capable and reputable companies enter Kazakhstan’s market. The PepsiCo project is being managed by the Ministry of Agriculture. On our side, I’d like to note that...

According to Kazakhstan’s Nuclear Energy Agency, Kazakhstan is ready to cooperate with China regarding the country’s first nuclear power plant (NPP) construction.

«Almassadam Satkaliyev, chair of Kazakhstan’s Nuclear Energy Agency, held talks with Dong Baotong, China’s vice minister of ecology and environment and head of the National Nuclear Safety Administration… The sides emphasized possible cooperation in NPP project implementation, development of the nuclear fuel cycle and enhancement of scientific and technical infrastructure. The Kazakh side expressed its interest in studying Chinese expertise in nuclear, water and environmental safety across all stages of NPP implementation,» the agency...