News

According to statistics published by the National Bank, foreign direct investment (FDI) inflows plummeted 30-fold, from $2.3 billion to $72.9 million over the first nine months of 2024. Kazakh Invest, a national company dedicated to assisting foreign investors in Kazakhstan, has described this anti-record as a temporary event, driven by objective economic reasons and cyclical factors.    

«Decline in FDI inflows is not related to inefficiencies in investment policy but rather to objective economic factors, including commodity market volatility and investors’ decisions. Taking into account the mining sector’s high share in the FDI structure, these processes...

Despite recent remarks from President Kassym-Jomart Tokayev suggesting that previous guidelines no longer work due to currency depreciation and rising inflation, Kazakhstan’s National Bank will remain independent from the cabinet. Deputy Chairman of the National Bank Berik Sholpankulov reaffirmed this stance during a briefing in the Senate, the upper house of Kazakhstan’s parliament.

«Tackling inflation is a joint, extensive effort between the government and the National Bank. It is not a unilateral effort. Most likely, the comprehensive plan adopted by both parties to curb inflation will be adjusted to reflect the president’s latest directives,» Sholpankulov stated.

Astana’s Nur Alem sphere, the legacy of EXPO 2017, is set to host the Alem.AI artificial intelligence center, according to the Informburo.kz news portal, citing QazExpoCongress.

QazExpoCongress, the national company managing EXPO facilities in Astana, has confirmed plans for the upcoming renovation. Currently, the dismantling of exhibits from the Future Energy Museum, housed within the sphere, is underway. However, no structural changes to the building are planned.

The Alem.AI international artificial intelligence center, a project previously approved by President Kassym-Jomart Tokayev, is expected to open on the premises. The EXPO site covers 25 hectares and consists of 15 facilities.

On Jan. 29, Kazakhstan-based fintech company Kaspi.kz announced it had finalized a deal to acquire a 65.41% stake in Turkish marketplace Hepsiburada worth $1.1 billion.

Kaspi.kz bought 40 million class A shares and 173.2 million class B shares of D-Market Electronic Services & Trading (Hepsiburada) under an agreement signed on Oct. 17, 2024.

The deal was approved by Turkish regulators. Its total value reached $1.127 billion, of which $600 million was paid in cash upon closing. The remaining $526.9 million will be transferred in cash no later than six months after the deal’s conclusion. Both companies will keep...

A passenger aircraft of the Russian airline Pobeda, flying from Dubai to Moscow, sent a Mayday call while flying over the Caspian Sea. Later, Mash.ru reported that the plane had made an emergency landing in Astrakhan.

According to FlightRadar24, the aircraft descended in altitude after sending out a Mayday call but continued flying along the route. The air carrier has confirmed the incident and is investigating its cause.

After the aircraft safely landed at Astrakhan Airport, some media outlets reported that the mayday call might have been sent because of a false fire alarm on board. This data is preliminary...

A Kazakhstani company has been supplying Belarus with hydrochloric acid — a critical material used in microchip production, which in turn is utilized in Russian weaponry — according to a recent report from the Belarusian Investigative Center (BIC), an independent media outlet.

«In 2021, hydrochloric acid with a purity of 99.999% was supplied to Integral (the Belarusian state-owned company) by the German company UrSeCo Handels GmbH & Co. KG. But a new delivery scheme emerged in 2022, when sanctions banned the chemical from entering Russia. The supplies passed through Poland and Turkey to Kazakhstan before reaching Belarus...

The Ministry of National Economy of Kazakhstan plans to raise VAT from the current 12% to up to 20%, according to Minister Serik Zhumangarin. Speaking at a press briefing following a cabinet meeting, he acknowledged that the increase would impact prices but assured that the government is taking measures to mitigate its effects.

«We have not yet decided whether the new VAT rate will be 16% or 20%. Naturally, this will have consequences. Our calculations indicate that the increase will add an average 4% cost burden per entity, which will inevitably be passed on to consumers...

Kyrgyzstan has introduced a draft law aimed at curbing extravagant spending on celebrations.

According to the Kaktus.media news portal, Kyrgyz MPs Shairbek Tashiev and Zamirbek Mamasadykov, who proposed the draft law, argue that local traditions and customs have increasingly become a platform for excessive displays of wealth and social competition.

The lawmakers highlight that while weddings and funerals were once held to seek communal blessings, they have now become status-driven events. Common questions are fueling unnecessary competition: «How much money will guests bring?» «I spent a lot on their wedding. Will they repay me in kind?» «Will the collected money...

The total amount of claims filed by Russian state TV channels against YouTube has reached 1.8 duodecillion rubles — a figure with 39 zeros — the Russian business media outlet RBC reported, citing sources familiar with the matter.

«The specified amount represents the debt accumulated by Google as of Jan. 15 for failing to comply with the demand to restore the accounts of Russian media on YouTube,» RBC cited the source.

Meanwhile, the debt continues to grow each week.

Legal proceedings against YouTube in Russia began as early as five years ago, initiated by the...

Karlygash Bakirova, a doctor from Kazakhstan, saved an 85-year-old passenger’s life during a flight from Astana to Moscow. She carried out a resuscitation procedure and insisted on an emergency landing. The incident happened on Jan. 24 on a flight operated by the Kazakh air carrier SCAT.

«During the flight, Viktor Karpin, 85, who was traveling with his grandson, began to feel unwell and almost fainted. Upon noticing his worsening condition, the flight attendants called for a doctor via the intercom. Karlygash Bakirova, an Astana Medical University graduate and otoneurologist, responded to the call immediately and rushed...

Kazakhstan may commence the simultaneous construction of two nuclear power plants (NPPs), Kazakhstan’s Minister of Energy Almassadam Satkaliyev said in response to President Kassym-Jomart Tokayev’s comments on the need to create a nuclear cluster in the country.

«Given that the electricity shortage in Kazakhstan is worsening, the country should accelerate the construction of generating capacity and the development of a nuclear cluster. These measures will also allow us to reduce our carbon footprint, thus fulfilling our liabilities under the green agenda. Therefore, I believe the simultaneous implementation of two NPP projects is possible as we possess...

China Energy, the largest energy company specializing in coal production and processing in the world, is reviewing coal mines in Kazakhstan to select the best one. This is part of a broader effort to boost the development of coal chemistry in the country, according to Prime Minister Olzhas Bektenov.

«China Energy has confirmed its interest in implementing investment projects related to coal chemistry in Kazakhstan, amounting to $4 billion. Currently, the company is looking for a coal field that will suit its needs the most,» he said during a cabinet meeting attended by President Kassym-Jomart Tokayev.

Kazakh superstar Dimash Qudaibergen has joined the judging panel for the 10th anniversary season of «Virtuosos,» a classical music competition that showcases young, exceptionally talented musicians from around the world. The show is currently being filmed in Budapest, Hungary.

According to the DimashNews portal, the competition features talented musicians from Hungary, Austria, Slovenia, Serbia and Montenegro.

The first day of filming was marked with heartfelt reunions and the excitement of new connections. While many jury members have been part of the show for years, some are stepping into their roles for the first time. This is Dimash’s second time serving...

A FlyArystan plane reported a bird strike while conducting a regular flight from Uralsk to Astana. Despite the collision, the aircraft continued its flight and safely landed in the capital city of Kazakhstan. Later, service technicians identified «multiple damages to the aircraft» and the remains of birds inside the engine.

The incident occurred on Jan. 26 during the departure of the FlyArystan plane from Uralsk to Astana.

«The collision occurred with a flock of birds at Uralsk Airport. Since there were no failures in the aircraft’s engines or other systems, the crew decided to continue the...

According to President Kassym-Jomart Tokayev, Kazakhstanis will continue to see rising utility and motor fuel prices. During a cabinet meeting, he emphasized that the country should eliminate the tariff imbalance with other CIS countries, where electricity and gasoline costs are significantly higher.

«The cabinet should continue implementing its new tariff policy. Tariffs must align with the market; otherwise, the reliable supply of electricity, water and heat could be at risk,» Tokayev stated.

He pointed out that almost all CIS countries impose higher tariffs on electricity, natural gas and oil products than Kazakhstan.

President Kassym-Jomart Tokayev sees the need to streamline legal circulation of digital assets in Kazakhstan through expansion of corresponding infrastructure. He shared this idea during a cabinet meeting on Jan. 28.   

As the president noted, transactions with cryptocurrencies are currently allowed only on licensed platforms within the Astana International Financial Centre (AIFC). However, according to various experts, only 5% of Kazakhstani cryptocurrency investors use AIFC-approved platforms, while most prefer to operate in the gray zone.    

«The task of creating an infrastructure for broader legal circulation of digital assets is urgent. Financial regulators must step...

Kazakhstan’s national project for the modernization of the energy and utility sectors, adopted at the end of 2024, marks the launch of the most significant investment cycle in the country’s housing and utility infrastructure in decades. Between 2025 and 2029, 15.1 trillion tenge (approximately $28 billion) will be allocated for constructing new power plants and upgrading heating, electricity, water supply and wastewater networks. Notably, 10% of these funds will come directly from the state budget.

Overview of the national project

The national infrastructure project, adopted by a government decree on Dec. 25, 2024, and published in early January 2025, was...

President of Kazakhstan Kassym-Jomart Tokayev has instructed the cabinet to accelerate negotiations with foreign investors on the extension of production sharing agreements (PSAs) under new, preferential terms for Kazakhstan.

«With the help of production sharing agreements, Kazakhstan has become a reliable supplier of energy carriers on the global market… Meanwhile, large investments require a long-term planning timeframe. This is why the cabinet should advance negotiations about extending PSAs under renewed, more beneficial conditions for the country,» he said during a cabinet meeting.

He also highlighted that these projects play a crucial role in the socio-economic...

Prime Minister of Kazakhstan Olzhas Bektenov has revealed the status of the Baiterek space rocket complex project, which is being implemented at the Baikonur Cosmodrome.

The project is being developed based on the Zenit-M complex infrastructure. This facility has been under Kazakhstan’s control since 2018, when Russia stopped leasing it.

The Baiterek space rocket complex is a joint project of Russia and Kazakhstan, with Kazakhstan investing approximately $121 million from the state budget between 2025 and 2027. Notably, in 2024, investments totaled around $28 million.

The Roscosmos-affiliated Center for Ground-Based Space Infrastructure Facilities Operation is the primary developer of the...

According to the Ministry of Agriculture of Kazakhstan, a large greenhouse park will be built in Shymkent. The total investment in the project is estimated at $650 million.

The deal was formally sealed on Jan. 27, when the Ministry of Agriculture, Alarko Holding, the administration of the city of Shymkent and Alsera KZ, a Kazakhstani subsidiary of Alarko, signed an agreement on the implementation of the project. Turkish Ambassador to Kazakhstan Mustafa Kapucu, along with representatives from Kazakhstan’s Ministry of Foreign Affairs and Kazakh Invest, also took part in the negotiations on the project.

Once commissioned, the greenhouse park will...

Graceful birds have been spotted in Almaty at Lake Sayran and the Esentai River. Despite obvious admiration, users on social media have also expressed their concerns about the herons’ safety.

Enthusiasts explained on social media that Sayran attracts the herons with fish. Additionally, many concerned citizens come to the lake with their children to feed the herons. The lake’s avian variety also includes numerous ducks and cormorants.   

One more...

The Ministry of Agriculture of Russia is trying to reach a new transit agreement with Kazakhstan as it wants tariffs for Russian grain suppliers to be the same as for Kazakhstani suppliers, the Interfax news agency reported, citing Russian Agriculture Minister Oksana Lut, who made this statement at a forum called «The Development of Small Agricultural Business in Russia.»

«We are trying to reach an agreement with the neighboring country to align these transit tariffs with tariffs for residents of Kazakhstan and create the same condition for all suppliers,» the minister said.

She emphasized that...

Last week, Kazakhstan Cadet and Junior Chess Championship 2025, in which around 950 players participated, was held in Almaty, the Kazakhstan Chess Federation (KazChess) reported.

The tournament (Jan. 15 to Jan. 25) featured three formats: classical, rapid and blitz chess. Players from seven age groups, ranging from 6 to 18, competed in the event.

Last year, only one participant, Alimzhan Zhauynbay managed to secure the absolute champion’s title in the O10-age category. However, this year, four players claimed first place across all three formats: Makar Chernyshov (O6), Danis Kuandykuly (O12), Zhansaya Sholpanbek (G12) and Elnaz Kaliakhmet, who emerged victorious in...

OnlineKazFinance, a microfinance organization operating under the Solva brand, announced its plans to enter the Uzbekistani market. The statement was made during the Investor Day at KASE event. The company anticipates obtaining a license in the first half of 2025, according to its presentation.

Solva announced that it had already developed a dedicated IT platform for doing business in Uzbekistan, with preparations for entering the country’s market having been underway for over a year.

The primary effort of a future Uzbekistani subsidiary will be focused on financing small and medium-sized businesses. Solva analysts highlighted that this expansion will help diversify...