News

Tau-Ken Samruk, Kazakhstan’s national mining company and a subsidiary of sovereign wealth fund Samruk-Kazyna, may start developing the Kuirektykol rare earth metal deposit in the Karaganda region, according to a statement published on the Primeminister.kz website. The deposit was discovered in 2024, and the government has tasked officials with evaluating its development potential.

«As part of the objectives set at the cabinet meeting on Dec. 3, 2024, regarding state-owned companies’ involvement in natural resource exploration, cooperation with the national mining company Tau-Ken Samruk has been strengthened… Under this arrangement, pilot projects are underway at the Karatas...

An explosion at a mosque in the Izboskan district of Uzbekistan’s Andijan region killed three people and injured 10, according to the country’s Ministry of Emergency Situations.

Regional emergency officials said the blast was caused by a gas leakage in the mosque’s restroom. The injured were taken to a hospital for treatment.

Authorities, including the regional governor, emergency services, law enforcement, the National Security Committee, the healthcare department, the prosecutor’s office and the local gas supply company, responded to the scene. Efforts are underway to assess and mitigate the damage.

An investigation into the incident is ongoing.

Halyk Bank shares have reached a multi-year high on the Kazakhstan Stock Exchange (KASE), peaking at 304.88 tenge ($0.61). At the time of publication, the shares were trading at 299.43 tenge ($0.59) per share.

This marks the highest level since February 2011, when Halyk Bank shares were traded on KASE at 435 tenge ($0.86). At the same time, several financial publications and Telegram channels, including the Qazaq Association of Minority Shareholders (QAMS) channel, referred to the current figure as a historical record for the issuer.

Freedom Broker analysts also highlighted the rise in Halyk Bank’s share price in their daily...

Armenian authorities have notified the Collective Security Treaty Organization (CSTO) secretariat that the country would not contribute to the organization’s funding, as reported by the Sputnik Armenia news agency, citing the country’s Ministry of Foreign Affairs.

“The Armenian side has officially notified the CSTO Secretariat that it refrains from signing the resolution on the 2025 CSTO budget and, subsequently, from financing the organization’s activities,” the agency said in a statement.

In February 2024, Armenian Prime Minister Nikol Pashinyan accused CSTO of reluctance to protect Armenia’s sovereignty and stated that Yerevan had frozen its participation in...

The process for issuing banking cards is set to become stricter for foreigners without a residence permit in Kazakhstan. They will now be required to verify their identity every month to maintain access to banking services.

The Agency for Regulation and Development of the Financial Market (ARDFM) of Kazakhstan has prepared a draft regulation proposing new measures to counter fraudulent activities, money laundering and the financing of terrorism.

Under the new rules, when issuing a card to a nonresident, any Kazakhstani bank must:

Kazakhstan’s National Bank is set to prohibit exchange offices from placing currency rate boards on building facades and along roads, a move that has drawn criticism from industry representatives.

Archin Galimbaev, head of the Association of Exchange Offices of Kazakhstan, called the decision unreasonable, arguing that it would only complicate people’s lives.

On March 28, the National Bank published a draft decree on the Legalacts.egov.kz platform, proposing the ban on foreign exchange displays. The draft is open for public comment until April 14.

The regulator claims that currency rate boards are often placed along roads, on building facades, at crosswalks...

At an extraordinary general meeting, shareholders of Cyprus-based Ros Agro approved the delisting of the company’s global depositary receipts (GDRs) from the Moscow Exchange (MOEX) and the Astana International Exchange (AIX), according to Ros Agro’s website. The decision comes amid criminal proceedings against the holding’s founder Vadim Moshkovich, who is accused of large-scale fraud in Russia.

Ros Agro’s main asset is Rusagro, a Russian food producer and a leading player in the local margarine, mayonnaise, sunflower oil, sugar and pork markets. The current delisting is a result of a process initiated last July when Rusagro was included in the list...

Kazakhstan’s Prime Minister Olzhas Bektenov has signed a government decree granting Altyn Group Qazaqstan, a subsidiary of the British A Gold Plc, a temporary lease on a 71.37-hectare plot within the former Semipalatinsk nuclear test site. The company plans to expand gold mining operations in the Abay region, where the test site is located.

The cabinet resolution, obtained by Kursiv.media, states:

«Transfer the 71.37-hectare land plot from the category of reserve lands within the former Semipalatinsk nuclear test site in the Abay region to the category of lands designated for industry, transport, communications, space exploration, defense...

The Akorda Residence hosted an official ceremony to welcome Slovenian President Nataša Pirc Musar, who arrived in Kazakhstan on an official visit.

The presidents of Kazakhstan and Slovenia introduced their delegation members to each other, after which the Chief of the Guard of Honor gave a salute.

“The ceremony was accompanied by the national anthems of Kazakhstan and Slovenia. Following the event, the presidents proceeded to the conference hall,” the Akorda press service reported.

Last week, Uzbek President Shavkat Mirziyoyev arrived in Kazakhstan for an informal meeting with President Kassym-Jomart Tokayev. Despite the visit’s unofficial...

Kazakhstan must invest $610 billion to achieve carbon neutrality by 2060, according to Natalia Bachinskaia, business development manager at Chapter Zero Kazakhstan, a part of the global Climate Governance Initiative (CGI) network, which aims to combat climate change and enhance business sustainability.

“Kazakhstan will need to invest $610 billion to achieve carbon neutrality by 2060, $10 billion of which is required by 2030. This goal is unattainable without international investment. Decarbonization projects, such as those related to renewable energy, can be commercially attractive. However, other initiatives, including carbon capture and storage, as well as forestry and...

Singapore’s GK Hyperscale Ltd will participate in the construction of two 200 MW data centers in the Akmola and Karaganda regions, according to Kazakhstan’s Ministry of Digital Development, Innovation and Aerospace Industry. Minister Zhaslan Madiyev announced the project at the AlmatyFair.ai exhibition, briefing Kazakhstan’s President Kassym-Jomart Tokayev and Uzbekistan’s President Shavkat Mirziyoyev, who attended the event.

«To support large-scale artificial intelligence (AI) initiatives, significant infrastructure is required. In this regard, two major data centers with a capacity of 200 MW will be built in Kazakhstan,» officials stated.

The project will be implemented in collaboration with...

During his recent visit to Almaty, President Kassym-Jomart Tokayev instructed the city’s mayor Yerbolat Dossayev to address key urban issues, including street lighting, water supply and overall municipal improvement.

«During his working visit to Almaty, President Kassym-Jomart Tokayev met with Akim (mayor) Yerbolat Dossayev and assigned several tasks, including ensuring proper street lighting at night, guaranteeing timely and sufficient water supply to residents and improving streets and residential courtyards,» presidential spokesman Ruslan Zheldibay wrote on his Telegram channel.

Tokayev also emphasized the importance of holding regular «Taza Kazakhstan» («Clean Kazakhstan») initiatives, expanding green spaces and...

Teniz Capital Brokerage LTD, a sister company of Teniz Capital Investment Banking registered with the Astana International Financial Centre (AIFC), has acquired a 49% stake in the Tabys mobile investment application, as announced by the AIFC. The deal’s value remains undisclosed. According to Tabys representatives, the company does not plan to sell the remaining shares.

Tabys expects that its partnership with the broker will expand the range of available financial instruments in its application.

The platform will include shares and bonds listed on the Astana International Exchange (AIX), along with other financial instruments, and will provide users with access...

Serik Tolbassy on the first sale of REIT TSPG preferred shares

The launch of the REIT TSPG real estate investment fund in May 2024 marked a significant milestone for Kazakhstan’s commercial real estate market, opening new opportunities for investors. The fund boasts a high-quality portfolio of properties and offers attractive investment returns. The fund’s anchor investor and entrepreneur, Serik Tolbassy, has put up for sale a portion of his preferred shares in the REIT TSPG Umbrella Fund, with a minimum transaction amount equivalent to $50,000. This significantly lowers the entry threshold for investors, as previously, participation in a real estate...

China’s AirNet Technology Inc. is considering establishing a Bitcoin mining farm in Kazakhstan, according to a notice published on the Nasdaq website.

The company has signed an investment letter of intent (LOI) with Kazakhstani STH Corp. for potential investment in a 130-megawatt (MW) mining farm project in Kazakhstan.

The project includes:

AirNet Technology highlighted that the LOI does not obligate either party to proceed with a deal. The company will...

European and international financial institutions are ready to invest €10 billion in developing the Trans-Caspian International Transport Route (TITR), according to Kaja Kallas, High Representative of the European Union for Foreign Affairs and Security Policy.

During a press conference in Ashgabat, Turkmenistan, she stated that the development of TITR is a major ongoing project, and many European and international financial institutions are prepared to invest more than €10 billion into it, as reported by Turkmenportal.com.

TITR is a key logistical corridor stretching from China to Europe via Kazakhstan, the Caspian Sea, Azerbaijan, Georgia and Turkey. Also known as the Middle...

At a recent meeting with Kazakhstan’s President Kassym-Jomart Tokayev in Almaty, Vice President of the European Commission Kaja Kallas announced that a process has begun to simplify the visa regime between Kazakhstan and European countries.

«Kallas announced the beginning of the procedure to conclude a visa facilitation agreement between the European Commission and Kazakhstan,» Akorda reported.

In response, Tokayev welcomed the development, emphasizing its significance for strengthening ties with Europe.

«Kazakhstan takes this news very positively, as this step opens up broad opportunities for strengthening interpersonal contacts and business ties with...

The men’s short program has concluded at the World Figure Skating Championships in Boston, with Kazakhstan’s Mikhail Shaidorov delivering a standout performance. Shaidorov, who has made a sensational breakthrough into the world’s elite this season, scored 94.77 points, placing third out of 39 competitors. He lost points due to a hand touch on the ice during his triple Axel, which prevented him from achieving a higher score.

Reigning world champion Ilia Malinin of the U.S. took the lead with 110.41 points, followed by Japan’s Yuma Kagiyama with 107.09. Shaidorov rounded out the top three.

The 20-year-old Kazakhstani athlete has been...

Kia, a popular South Korean automobile brand, may return to Russia thanks to Kazakhstan. Sorento and Sportage are expected to be the first models to re-enter the market. However, for this to happen, Russia must exempt Kazakhstan-assembled vehicles from the country’s disposal fee. Kazakh authorities have already made the corresponding request.

How Kazakhstan could help Kia return to Russia

A report on the implementation of the Ministry of Industry and Construction’s development plan for the 2023-2027 period, summarizing the results of 2024, includes a curious clause. Kazakhstan’s agency suggests that its Russian counterparts allocate quotas for Kazakhstan-manufactured cars, exempting them...

Uzbek President Shavkat Mirziyoyev signed into law a regulation introducing penalties for the financing of civil disorders, as reported by Gazeta.uz. The regulation was introduced based on the experience of “neighboring countries,” where organizers of such events were allegedly paid for their activities.

A sentence of 10 to 15 years in prison will be imposed for financing disorders involving devastation, arson and resistance to authorities in Uzbekistan. According to an explanatory note, this criminal rule is necessary “based on modern realities,” in which, in “neighboring countries,” civil disorders have, in several cases, been financed by third parties.

Furthermore, the document...

Russian President Vladimir Putin continues to challenge the legitimacy of Ukraine’s government, casting doubt on ongoing peace negotiations between the two countries. He has proposed placing Ukraine under interim governance overseen by the UN to conduct elections, going beyond just a presidential vote.

«External governance would allow elections to take place in Ukraine and bring to power a capable and trusted government of the people. With them, Russia could negotiate a peace treaty and sign documents that would be globally recognized, reliable and stable,» Putin said, according to Russia’s RBC news agency.

He claimed that...

Today, on March 27, the Senate, the upper house of Kazakhstan’s parliament, endorsed amendments to the law on physical culture and sports, banning the use of state funds to finance international athletes. Senators reviewed the document in two readings, with Senator Assem Rakhmetova noting that the draft legislation includes 11 new provisions.

Apart from restricting state financing for non-resident athletes of Kazakhstan, the law also establishes priority sports eligible for prioritized funding based on the results achieved by national teams at the Olympic, Paralympic, Deaflympic, Asian and Asian Para Games.

Following the meeting, reporters asked Kazakhstan’s Deputy Minister of Tourism...

Kazakhstan’s sports federations will be required to help prevent extremism and terrorism due to the spread of religious movements among athletes, according to Vice Minister of Tourism and Sports Serik Zharasbayev.

A provision addressing extremism and terrorism prevention was included in the new law on physical culture and sports, which was adopted by the Senate, the upper house of Kazakhstan’s parliament, on March 27. Speaking to reporters at the parliament, Zharasbayev said the measure is necessary because religious movements have begun to emerge within the sports community.

«This provision has been introduced to combat these factors...

Freedom Finance Global has been researching consumer confidence, inflation and devaluation expectations of Kazakhstan residents for the past twenty-eighth month. In February 2025, the Consumer Confidence Index (CCI) remained neutral at 93 points, marking the second consecutive time it reached the lowest value in the history of the research. Negative responses continue to outweigh positive ones. Optimism regarding economic forecasts has noticeably declined again. However, a slight recovery is observed in a couple of other components. Inflation estimates have been rising for the fourth month in a row amid accelerating official inflation and worsening export forecasts. Inflation expectations remained at...