News

In the first six months of 2025, Lotte Rakhat Confectionery reported a profit of about $3.9 million, down 53.4%, or $4.4 million, from the same period last year, according to the company’s filing on the Kazakhstan Stock Exchange (KASE) website.

The drop was largely due to a 23.4% fall in gross receipts to nearly $14 million. While revenue from confectionery sales rose year-on-year by about $9 million, production costs increased by $13 million. The biggest rise in costs came from materials — primarily ingredients — which jumped $12 million, or 25%, compared to last year.

General, administrative and selling...

Tengizchevroil (TCO), 50% of which is owned by U.S.-based company Chevron, produced 19.46 million tons of oil from the Tengiz field in the first six months of 2025. In the same period in 2024, the company reported production of 14.4 million tons, or 114.6 million barrels, marking a 35.1% year-on-year (YoY) increase.

«Once all Tengiz facilities are operating at full capacity, TCO’s total annual crude oil production is expected to reach approximately 40 million tons per annum,» the company said in a statement.

In the first half of 2025, TCO sold more than...

The United Arab Emirates-based company Presight is set to launch a new AI-powered surveillance system in Astana this December, the city’s mayor Zhenis Kassymbek announced during a meeting with residents.

“In line with the agreement, the company must complete this stage by the end of the year. In addition, more than 20,000 cameras will be installed on top of those already in place. We plan to finish in December and launch then,” Kassymbek said.

Presight’s office in Astana opened in May 2025. Earlier, the Sergek project, which had operated in the capital since 2017, was...

Investment management company Fonte Capital has announced the listing of the Fonte Bitcoin Exchange Traded Fund (ETF) on the Astana International Exchange (AIX), according to a statement on the company’s website.

An ETF is an exchange-traded investment fund that is traded in a way similar to ordinary shares. Typically, it is a basket of assets such as shares, bonds, commodities or a combination of them — bitcoin in this case. When an investor buys one ETF share, they effectively acquire a small stake in all the assets included in the ETF.

Trading in the fund’s shares began on Aug...

Kazakhstan has received $365 million in dividends from Eurasian Resources Group (ERG) that had been frozen in Luxembourg, Finance Minister Madi Takiyev said at a recent government briefing.

«This year, we received $365 million in dividends for previous years,» Takiyev said. «For 2024, the financial statements have just been completed; I haven’t seen the results yet. We’ll review those next year. But for 2021-2022, we received our money. They were unblocked.»

ERG’s ownership is split among the Ministry of Finance of Kazakhstan (40%), the heirs of the late Alexander Mashkevich and the Ibragimov...

Mobile rates for Altel and Tele2 customers in Kazakhstan are off-limits to government scrutiny until the end of 2026, following a court decision tied to an international agreement with Qatar.

Mobile Telecom-Service (MTS), which owns the Altel and Tele2 brands, won its case in the Almaty Court of Appeal, which canceled an antitrust probe into alleged overpricing for SMS notification services. Case details were published on the Supreme Court’s Office.sud.kz portal.

The investigation was dropped under a Kazakhstan-Qatar agreement that bars authorities from interfering in MTS operations or reviewing its rates until 2027.

In late 2023, the Specialized...

In July 2025, air carriers in Kazakhstan served 1.7 million people, marking a record for at least the past 18 years, according to data from Kazakhstan’s Bureau of National Statistics.

Air travel

In July, airlines operating flights within and outside Kazakhstan served 1.7 million people, the highest figure since at least 2007.

The number of passengers transported increased by 13% year-on-year (YoY). Passenger turnover also reached a record high, totaling more than 3.4 billion passenger-kilometers, up 7% YoY.

Taxi

This means of transport also saw a rise in usage, with the number of passengers transported by taxis increasing 3.7-fold...

Volkswagen’s sales in Kazakhstan have plunged in recent years, and once the Touareg model is discontinued in 2026, the brand could disappear from the country altogether, according to Artur Miskaryan, head of the Automotive Market Monitoring and Analysis Agency.

Writing on his Telegram channel, Miskaryan noted that just a few years ago, the German automaker consistently ranked among the top 10 most popular brands in Kazakhstan. In 2021, local dealers sold more than 4,000 Volkswagens, accounting for about 3% to 4% of new car sales. At the time, the most popular models came from Kaluga and Nizhny Novgorod...

The co-founder of the Save the Caspian Sea movement, Vadim Ni, has filed a lawsuit against Kazakhstan’s Ministry of Energy, demanding that the production sharing agreements for the country’s largest oil projects — Kashagan, Tengiz and Karachaganak — be made public.

Ni told Kursiv.media that the case has already reached the Supreme Court. Environmentalists also plan to present a 10-step plan to save the Caspian Sea to President Kassym-Jomart Tokayev soon.

«As for transparency, these three fields should operate under open agreements,» Ni said. «We requested the environmental conditions for the projects from...

A HOWO truck production facility is set to be established in the city of Saran in the Karaganda region. The Chinese heavy-duty truck manufacturer Sinotruk has joined the Kazakh company Saran Machinery, as reported by Primeminister.kz.

The plant is expected to produce up to 10,000 commercial and specialized vehicles annually. It will also be equipped with a modern cataphoretic metal coating line — the first of its kind in Kazakhstan — a technology that protects vehicle bodies from corrosion and extends their lifespan.

Several components are planned to be made from galvanized steel produced at Qarmet, a Kazakh metallurgical...

The growing complexity of the overall picture in global politics, the accumulation of macro-level statistics, and the broadening of data assessment methods have been shattering one stereotype of mainstream economists and political scientists after another.

Kursiv.media recently reported that in just the past few years, economists’ views on industrial policy have undergone a complete reversal. Once condemned, then rationalized, industrial policy has ultimately emerged as a tool more actively used by developed countries than developing ones in recent decades. The paradox is that it was precisely the developing countries pursuing catch-up development models that faced the harshest criticism, even...

Starting Aug. 13, Kazakhstanis can connect to Starlink internet. The company has officially launched its satellite internet service in the country, according to the Ministry of Digital Development, Innovations and Aerospace Industry.

The Starlink website lists the monthly fee for home internet starting at 23,000 tenge (approximately $43), but the company’s device is required for access. There are two options: standard and mini. The standard device is suitable for everyday home internet use, while the mini is designed for basic applications. The standard costs 201,000 tenge ($373) and the mini 104,000 tenge ($193). Delivery is promised within one to...

Foreign internet platforms that pay Kazakhstan residents will soon be required to report those payments to the country’s tax authorities. This rule encompasses major social networks, including YouTube and TikTok.

The provision is included in Kazakhstan’s new Tax Code, according to the State Revenue Department of the Mangystau region.

«This is necessary for desk audits of the income of individuals receiving remuneration through digital platforms, such as YouTube, TikTok, and others,» the department said.

The agency has prepared a list of answers to frequently asked questions about the new code — reviewed...

Kazakhstan’s shadow economy was estimated at 16.71% of GDP in 2024, down nearly one percentage point from the previous year, according to the Bureau of National Statistics. However, the Supreme Audit Chamber says the methodology for assessing the so-called non-observed economy is flawed and that government efforts to combat it remain insufficient.

Non-observed economy in 2024

In late July 2025, the Bureau of National Statistics (BNS) updated its estimate of Kazakhstan’s non-observed economy (NOE). The shadow sector declined from 17.58% to 16.71% of GDP in 2024, a drop of 0.87 percentage points (p.p.). In current prices, that amounts...

The Andorran company Pas Grau Internacional (PGI) Management, which will help build a ski resort at Kok-Zhailau, has registered a subsidiary with the Astana International Financial Centre (AIFC). The move was first reported by Arman Batayev, owner of the Finmentor Telegram channel.

PGI is a global leader in ski resort development, with more than 120 projects completed worldwide. Its portfolio includes renowned destinations such as Davos and St. Moritz in Switzerland, Courchevel in France, Ischgl and the Tyrol region in Austria, Vail and Aspen in the U.S., Whistler Blackcomb in Canada and several resorts in Andorra. In 2024, Andorra’s...

Eduard Bazrov, coach of prominent Kazakhstani UFC fighter Shavkat Rakhmonov, discussed whether the fighter will return to the Octagon before the end of the year. The Russian specialist described Rakhmonov’s situation as «very difficult.»

«About the situation with Shavkat, I can’t say anything for sure. The only thing is, Shavkat is training and working out. Of course, the situation is very difficult. And it’s also hard to get yourself mentally prepared for work,» Bazrov told Legalbet.kz.

After the tragic car accident in the Zhambyl region involving Rakhmonov’s family, the fighter has not appeared...

Hackers are often among the first to adopt artificial intelligence (AI), and they’re already putting it to work. The consensus in the industry is that generative AI acts as a force multiplier for cybercriminals, greatly expanding their capabilities.

To better understand how this technology is reshaping both cyberattacks and cyber defense, Kursiv Research examined insights from experts in the Russian and Kazakhstani markets. One of the most alarming events in Kazakhstan in recent months was the leak of personal data belonging to 16 million citizens.

Why AI is strengthening cybercriminals

Nearly every major 2024 cybersecurity report identifies AI...

Rosatom Technical Academy is set to train about 2,000 people to operate Kazakhstan’s first nuclear power plant (NPP), Russian media outlet TASS reported, citing the academy’s Rector Yuri Seleznev.

«We will train operations personnel. The number of future trainees will be determined by the contract — somewhere between 1,500 and 2,000 people,» Seleznev said.

Construction of Kazakhstan’s first NPP is scheduled for completion between 2035 and 2036. Training of operations personnel is expected to begin five years before the plant’s launch, the rector noted. Rosatom Technical Academy will also develop and equip the training...

A meeting on artificial intelligence development, chaired by President Kassym-Jomart Tokayev, has been held. The president stated that the progress in carrying out his instructions on building the necessary infrastructure, developing legislation and implementing AI has been unsatisfactory.

In his speech, Tokayev noted that the world is experiencing significant technological changes driven by rapid AI development. For example, in July, the administration of U.S. President Donald Trump unveiled America’s AI Action Plan, which recognizes AI as a key tool for maintaining U.S. technological, economic and defense leadership.

«Our specialists should carefully study this and other similar...

President Kassym-Jomart Tokayev has proposed a competition to choose the best name for the country’s first nuclear power plant (NPP).

«The joint construction of the first nuclear power plant with Rosatom is of strategic importance. Construction of the plant officially began recently. The NPP is not just an energy facility, but a symbol of scientific and technological progress. The plant does not have a name yet. Since it is the first in our country, I believe we could launch a nationwide competition to choose the best name,» Tokayev said during a meeting with winners and runners-up...

President Kassym-Jomart Tokayev has ordered that all state communications containing personal data be transferred from foreign messaging platforms to the domestic app Aitu. He made the announcement Aug. 11 during a meeting on artificial intelligence development.

Tokayev said much of the business and official correspondence, including the exchange of citizens’ personal information, is now conducted through international messaging services. This often involves sending personal identification numbers, health data and other sensitive details, he noted, which violates Kazakhstan’s data protection laws and risks information being leaked beyond the country’s jurisdiction.

«Meanwhile, Kazakhstan has...

The Asian U19 & U22 Boxing Championships wrapped up Aug. 11 in Bangkok, Thailand, with Kazakhstan taking home five gold medals and four silvers.

U22 men
In the men’s U22 finals, Kazakhstan’s team faced Uzbekistan in five gold-medal bouts, winning three.

Nurislam Kaldybayev (60 kg), Sanzhar-Ali Begaliyev (80 kg, pictured) and Temirlan Mukatayev (90 kg) claimed continental titles, defeating Shohruh Abdumalikov, Rakhmatullo Boymatov and Shakhzod Polvonov, respectively.

Silver medals went to Ilya Kalinin (65 kg) and Nurbek Mursal (70 kg).

In the unofficial medal table for the U22 men, Kazakhstan placed second with three gold and two silver medals...

A village in Kazakhstan showcasing its own «Wonders of the World» is rapidly gaining popularity on social media. Kursiv Lifestyle reveals where you can see the Statue of Liberty next to the Taj Mahal.

Blogger Pavel Zoteev shared photos from an unusual village on Threads. He was traveling with his wife and son across the Kostanay region and visited the village of Amangeldi, located 410 kilometers from the city of Kostanay — about a five-hour drive by car.

Replicas of world-famous landmarks are located in a multifunctional tourist complex on the outskirts of the village. The Eiffel Tower...

Kazakhstan’s Prime Minister Olzhas Bektenov has held talks with CEO of Russia’s state-owned Rosatom Alexey Likhachev.

Likhachev reported that construction of Kazakhstan’s first nuclear power plant began on Aug. 8 in the Almaty region. The sides discussed ensuring local content in goods and services, using domestic equipment and materials, hiring local specialists and exchanging experience.

«Issues of localizing nuclear fuel cycle processes were raised. Practical aspects of forming an international consortium that will unite leading Kazakhstani and foreign partners were also considered. The Russian side confirmed its readiness to cooperate with suppliers from Kazakhstan and other...