News

A new Kia vehicle plant will be launched in the Kostanay region in October 2025, the President’s Office said in a statement, citing Kia Qazaqstan Managing Director Kim Dae-Ki’s report to President Kassym-Jomart Tokayev. 

The first test vehicle is scheduled for production in July 2025. The first model chosen for serial production at the plant is the Kia Sorento followed by the updated version of Sportage in January 2026. The plant will have an annual capacity of 70,000 vehicles.

Construction of the facility began in October 2023. It will be equipped with 70 robotic systems across the welding, coating and...

Solidcore Resources, a Kazakhstani gold mining company formerly known as Polymetal, needs $1 billion in investments to stop being dependent on Russia, according to Interfax Kazakhstan, citing Chief Financial Officer at Solidcore Resources Maxim Nazimok. 

«We need to invest $1 billion to achieve total operational independence from Russia. Primarily, it refers to the construction of the Irtysh GMK (a mining and metallurgic company) in Kazakhstan. This project requires around $800 million in investments over the next five years, including some in-house projects at the existing deposits,» said Nazimok at the Astana Finance Days conference. 

Even...

Moody’s has improved Kazakhstan’s long-term rating from Baa2 to Baa1 and the outlook has been changed to «stable.» This is the highest rating in the country’s history, according to the Ministry of National Economy. The upgrade of Kazakhstan’s credit rating strengthens economic stability, enhances its international reputation and facilitates foreign direct investment.

The agency raised Kazakhstan’s credit rating due to ongoing improvements in the country’s institutional and policy framework, along with sustained progress in economic diversification.

Moody’s reports that Kazakhstan is increasing the share of the non-oil sector in its economy, thereby reducing its dependence on fluctuations in oil prices...

Kazakhstan’s mortgage market is showing signs of recovery. In the first seven months of 2024, the volume of new mortgage loans increased by 16% to $2 billion. This recovery is largely driven by the expansion of commercial bank programs, which saw a 62% increase due to process automation and partnerships with developers. Meanwhile, new housing prices fell by 1.2% and secondary housing prices rose by 3.5%, according to the Association of Financiers of Kazakhstan (AFK).

The share of market-based programs in the total volume of new mortgage loans rose to 35%, the highest level in seven years. Leading the growth...

The Astana International Exchange (AIX) has announced that Qiwi, a payment service provider based in Cyprus, can now trade its American depositary shares (ADSs) at the exchange, which operates as part of the Astana Financial Centre’s (AIFC). 

The company’s securities are traded in U.S. dollars under the QIWI ticker, although the group is in the process of changing its name to NanduQ.

At the same time, the Nasdaq Stock Market has resolved to delist Qiwi’s ADSs. This decision will take effect at the start of the trading session on Sept. 16, the company reported. 

Nasdaq initially notified Qiwi of its...

Authorities are pushing to introduce mandatory home insurance for emergencies. A draft law has already been submitted to the Mazhilis for consideration. If approved, large retail outlets will be required to have insurance (the first stage of the initiative), while the general Kazakhstani population will face similar requirements within the next several years.

«There is currently no mechanism to cover fire loss damages for third-party individuals, including those affected or even deceased. Introducing a civil liability system for large retail outlet owners would provide a comprehensive solution to the issue. First, it would help reduce social...

Astana Arena hosted the opening ceremony of the 5th World Nomad Games, bringing together more than 2,000 athletes and official representatives from 89 countries.

President of Kazakhstan Kassym-Jomart Tokayev delivered a welcome speech, highlighting the importance of this event in preserving and promoting the culture of nomadic people, which connects many nations.

«The Nomad Games are a celebration of unity and friendship. May our friendship be everlasting,» Tokayev declared, officially opening the 5th World Nomad Games.

The president also stressed Kazakhstan’s role as a model of unity and friendship among the peoples of Eurasia and...

The Prosecutor General’s Office of Kyrgyzstan issued an updated terrorist list with no mentioning of the Taliban. The Ministry of Foreign Affairs of Afghanistan praised the decision by Kyrgyzstani authorities, stating that it signifies an “expansion of political recognition of Afghanistan.”

The State Commission for Religious Affairs was unable to specify when or why the organization in question was delisted, Kaktus.media, a Kyrgyzstani online media outlet reported.

«You better ask the judiciary as they can provide you with more detailed information or ask the Prosecutor General’s Office which issued the list,» said Azamat Yusupov, head of...

Astana Motors will invest $12 million in the construction of 250 EV charging stations in Astana, Almaty and Shymkent. The company expects to put them in service before 2028, Head of Distribution in Astana Motors Akylbek Anarbayev said at the Astana Finance Days conference.

The enterprise has already launched the My Charge project aimed at developing a network of charging stations throughout the country. They plan to open 42 stations by the end of this year. So far, there are four charging stations in Almaty: at the Mega Alma-Ata trading and entertainment center, Hyundai Premium on Al Farabi Avenue, Hyundai...

The pension savings of Kazakhstanis might be entrusted to foreign investment managers. President Kassym-Jomart Tokayev introduced this idea during a meeting with the Astana International Financial Centre (AIFC) Management Council, according to Akorda.

According to the president, liquidity (the ease of selling assets at market price) is one of the most important indicators of a stock market’s level of development.

Tokayev also noted that under national legislation, Kazakhstanis can transfer up to 50% of their retirement savings to private management companies.

«In light of this, the president proposed considering foreign investment management companies to gain access...

According to the Ministry of Tourism and Sports of the Republic of Kazakhstan, judoka Akmaral Nauatbek won a gold medal in the final match against Sandrina Martine from France at the Paralympics in Paris.

«Akmaral Nauatbek has won at the Paralympic Games in Paris in the J2 category for 48 kilograms. In the final against French judoka Sandrina Martine, she won by ippon,» the ministry said in a statement.

In the semifinal, the 25-year-old Kazakhstani judoka also won by ippon against Cahide Eke from Turkey. In the quarterfinal, she defeated Kokila Kaushiklate, a Para athlete...

President Kassym-Jomart Tokayev has reinforced his stance on maintaining the current tax regime in the Astana International Financial Centre (AIFC), according to Akorda (the official residence of the president of Kazakhstan). This announcement followed a proposal to cancel tax benefits for investors at the Astana International Exchange, a platform within the AIFC. The initiative was part of the discussions surrounding the updated Tax Code.

«The tax regime within the AIFC is guaranteed by constitutional law and is a crucial element of the center’s development strategy. It is vital for making Kazakhstan more attractive to global investors...

According to Timur Turlov, CEO of Freedom Holding Corp., it is often a good idea to invest in microcap stocks. During his speech at the ITS Ideas conference, he encouraged investors to consider buying shares in microcap businesses. He explained that while large businesses report impressive financial results, they are increasingly subject to stricter public regulations. Although these companies may continue to generate profits, a significant portion of these earnings would likely be redirected to the government, leaving less for minority shareholders.

«I think it’s safe to say that we are entering a period where governments...

Kazakhtelecom has valued its wholly-owned subsidiary Mobile Telecom Service (which operates the Tele2 and Altel brands) at $1.1 billion of assets, according to the national operator’s statement for the first six months of 2024, posted on the Kazakhstan Stock Exchange (KASE) website. The buyer is Qatar-based Power International Holding (PIH).

The notes to the interim consolidated statement mention the reclassification of Mobile Telecom Service’s assets and liabilities. These are now considered as assets held for sale, along with related liabilities. As of the end of June, the assets were valued at $1.1 billion, while the liabilities totaled $367 million. The...

According to Freedom Holding Corp. CEO Timur Turlov, the world has been dealing with a conundrum over the past several decades: the key interest rate designed to regulate economic activity stopped working. Lending activities were growing moderately amid extremely low rates after the 2008 financial crisis. However, now, when the rates are at their peak, the economy keeps advancing thanks to a securities market increase driven by technological innovation.

«We have never seen such a long period of absolute zero rates in the developed world — an outstanding 15 years. And, overall, we have never had...

Kcell, a Kazakhstani mobile operator that operates the Kcell and Activ brands, has placed three-year bonds with a total nominal value of $62.2 million on the Astana International Exchange (AIX), according to a company statement posted on the Kazakhstan Stock Exchange (KASE) website. The funds raised will be used to «improve the loan portfolio parameters to pursue strategic objectives further and ensure financial stability.»

The coupon rate for the bonds is floating, set at the prime rate of the National Bank plus 0.5 percentage points with maturity in September 2027.

Since February, Kcell has been utilizing a credit facility from...

Armenian-based Invia Investments is set to become the first international broker to provide access to Kazakhstan’s ITS trading platform for its clients. The broker has recently obtained a license from the Astana International Financial Center (AIFC) and completed all necessary procedures to connect to the ITS platform, according to a report presented at the ITS IDEAS 2024 conference during the Astana Finance Days forum.

 «This will soon enable Invia Investments to provide its clients in Armenia with access to trade some of the most liquid global stocks available on ITS. We expect the number of ITS...

Kazakhstani Para powerlifter David Degtyarev won a gold medal at the 2024 Paralympics in Paris, while Para shot putter Dastan Mukashbekov earned a bronze medal, Olympic.kz reported.

«Degtyarev has won his second Paralympic medal, having previously triumphed in Tokyo. He is the first Kazakhstani to win in the Paralympic Games twice,» Olympic.kz said.

Minister of Tourism and Sports Yerbol Myrzabosynov congratulated the athlete, saying that he was proud of him.

«Our athlete once again showed an unbending will, determination and champion attitude. At the Tokyo Paralympics, Degtyarev also won gold and...

Arab financial institutions have decided to invest $7 billion in Kazakhstan’s economy, according to the press service of Kazakhstan’s prime minister. The announcement followed a round table discussion by the Arab Consultative Group, which led to the signing of several documents.

The group includes institutions such as the Islamic Development Bank, the Saudi Fund for Development, the OPEC Fund for International Development, the Kuwait Fund for Arab Economic Development, and the Abu Dhabi Fund for Development.

«The total amount of long-term direct investments in Kazakhstan’s economy under these agreements is expected to be around $7 billion...

According to a press release by Solidcore Resources (formerly known as Polymetal), a gold mining company that moved from the British island of Jersey to Kazakhstan last year, has recently gotten approval from the Moscow Exchange (MOEX) to delist its shares. Trading will cease on Oct. 15, 2024.

The delisting from MOEX will not affect Solidcore Resources’ share listing status on the Astana International Exchange (AIX). The company emphasized that AIX remains its primary trading platform, allowing investors to continue executing transactions there. The decision to delist from MOEX was made as part of the company’s broader development strategy and...

The International Canine Federation (FCI) has officially recognized the Kazakh Tazy as a distinct breed and confirmed Kazakhstan as the holder of the breed standard, according to the Department of Presidential Affairs of the Republic of Kazakhstan.

«After extensive procedures, the FCI Standards Commission, in collaboration with the FCI Scientific Commission, recommended that the General Committee approve the breed. Congratulations! Now you have ten years of work ahead. This time is meant for data collection required by the FCI Scientific Commission, including various health checks, breed statistics and information on the registered pups,» said FCI President...

Kazakhstan is keeping pace with international film festival trends. Recently, the country launched a festival featuring the latest works by women directors. The organizers even managed to showcase Payal Kapadia’s All We Imagine as Light, an Indian tale of love and sisterhood that won this year’s Grand Prix at the Cannes Film Festival, as well as Molly Manning Walker’s How to Have Sex, a winner of the Cannes’ «Un Certain Regard» competition.

However, the most well-attended screenings were for films by local directors, highlighting Kazakhstan’s growing pool of talented filmmakers. Among these are Tul by Sharipa Urazbayeva, Madina by Aizhan...

According to data from the Bureau of National Statistics, Kazakhstanis consumed less tea in the first six months of 2024. At the same time, the country’s import of coffee increased. 

«Over the first months of the year, Kazakhstan imported 13,400 tons of tea for $40.4 million, which is a 28.1% decline compared to the same period of last year,» the agency said.

Most of Kazakhstan’s tea imports come from Kenya (4,800 tons), India (4,700 tons), China and Russia (1,100 tons each). Other suppliers include Vietnam, Iran, Sri Lanka and Georgia.

Meanwhile, Kazakhstan actively imported coffee...

According to Minister of Digital Development Zhaslan Madiyev, Kazakhstan is about to sign an agreement with Amazon Kuiper on satellite internet provision. He believes that introducing a Starlink alternative will boost competition in the market, ultimately providing Kazakhstanis with better services.

«We will sign a number of agreements, including one with Amazon Kuiper, a Starlink-like satellite internet technology. By accelerating the competition in this industry, we may provide our citizens with better services at reasonable prices,» Madiyev explained.

Kuiper Systems LLC, a subsidiary of Amazon established in 2019, specializes in developing satellite broadband internet. The...