News

American Wabtec, controlling a locomotive assembly plant in Astana, plans to invest $200 million over 10 years, starting in 2027, in the production of models powered by alternative fuels, the cabinet’s press office reported.

In June, the company established a new engineering facility where eco-friendly locomotives powered by alternative fuels are currently being designed.

Wabtec owns the Lokomotiv Kurastyru Zauyty manufacturing plant in Astana. The factory produces freight, passenger and shunting locomotives for both domestic and foreign markets, such as Azerbaijan, Tajikistan, Turkmenistan, Kyrgyzstan and Mongolia. The enterprise employs 800 people and grants the opportunity to get training in the...

Russia’s Ministry of Foreign Affairs (MFA) has renamed its Department of European Cooperation (DEC) into the Department of European Problems, the Russian media outlet Kommersant reported.

According to Maria Zakharova, the MFA’s official spokesperson, the renaming followed changes in «geopolitical realities and the necessity for the agency to adjust itself to those changes» as well as due to the «obvious degradation of European structures for multilateral cooperation.»

She told RBK, another Russian media outlet, that the department will continue to supervise issues related to international organizations in Europe such as the OCSE, the Council of Europe, the EU, and NATO.

Kazakhstan’s Ministry of Agriculture has denied any wrongdoing in response to the Russian Federal Service for Veterinary and Phytosanitary Supervision (Rosselkhoznadzor) claiming that Kazakhstani authorities promoted illegal cross-border transportation of goods. Earlier this week, the Russian agency claimed that Kazakhstan allegedly used record details of more than 100 entities with no links to export activities to issue phytosanitary certificates. Supposedly, this scheme was performed to evade taxes and product-quality audits. 

In turn, Kazakhstan’s Ministry of Agriculture said it has nothing to do with “shady businesses” and placed the responsibility on unscrupulous private entities.

«Issuing phytosanitary certificates...

Kazakhstan has secured a €365 million (about $396 million) syndicated international loan, organized by the European Bank for Reconstruction and Development (EBRD), to build a 630-bed hospital in Kokshetau. Six institutions, including the Development Bank of Kazakhstan, will participate in this loan arrangement, the EBRD reports.

The syndicate includes the Asian Infrastructure Investment Bank, Deutsche Investitions- und Entwicklungsgesellschaft (a subsidiary of Germany’s state-owned KfW bank), the Islamic Corporation for the Development of the Private Sector, Proparco (a subsidiary of France’s Agence Française de Développement group) and the Development Bank of Kazakhstan. The EBRD alone will allocate €105 million.

The hospital...

Tajikistani authorities have prohibited playing the popular game series Grand Theft Auto (GTA) and Counter Strike, citing their negative impact on teenagers «persuading them to commit crimes,» the country’s Ministry of Internal Affairs (MIA) reported. Tajikistan became the first country in Central Asia to ban these popular video games.

«We inform citizens, especially those running video game clubs, that it is strictly forbidden to spread videos and games containing immoral and violent nature in accordance with the legislation of the Republic of Tajikistan,» the MIA said in a statement.

The agency noted that GTA and...

Kazakhstan’s Nurkozha Kaipanov has won the gold medal in freestyle wrestling at the World Championships in Tirana, Albania, securing victory in a non-Olympic weight category after a decisive match against Japan’s Yoshinosuke Aoyagi, according to Kazakhstan’s National Olympic Committee (NOC).

«In the final bout in the 70 kg weight category, he faced Japanese competitor Yoshinosuke Aoyagi. Kaipanov emerged victorious, winning the World Championship gold for the first time in his career,» the NOC stated.

This victory marks a career milestone for Kaipanov, who previously won silver in the same weight category at the World...

Kazakhstan and Russia have reached an agreement to open regular flights to Baikonur, aiming to attract tourists interested in visiting space facilities located within the cosmodrome. This agreement was finalized at the International Civil Aviation Organization Air Services Negotiation Event (ICAN 2024) in Malaysia.

«The Kazakhstan delegation held a meeting with Russia’s Deputy Minister of Transport Vladimir Poteshkin during which both parties agreed to establish air service from Kazakhstan and Russia to Baikonur to support tourism to the space station,» reported Kazakhstan’s Ministry of Transport.

Additionally, Kazakhstan secured agreements to increase weekly flights with four...

Following the introduction of visa-free travel between Kazakhstan and China, the number of Chinese tourists visiting Kazakhstan has surged. Since early 2024, over 122,000 tourists from China have visited, marking a 64% increase year-on-year.

According to Kazakhstan’s Ministry of Tourism and data from the eQonaq tourist flow and migration control system, the first 10 months of 2024 saw 122,000 Chinese tourists, up from 78,515 visitors during the same period last year. This increase aligns with the recent mutual visa-free travel agreement and the Year of Kazakhstan Tourism in China.

«The visa-free policy and frequent flights have...

President Kassym-Jomart Tokayev traveled to Mongolia for a business visit on Oct. 28 and 29, 2024. The guard of honor, horse guard, and nomad tent welcomed him in the capital, Ulaanbaatar. Kursiv.media has interviewed experts to understand the goals of this trip.

During a closed meeting with Mongolian President Ukhnaagiin Khürelsükh, President Tokayev referred to Mongolia as one of Kazakhstan’s most important partners and emphasized the special significance of the visit. Political analyst Gaziz Abishev views this visit as a step toward strengthening Kazakhstan-Mongolia relations on a regional scale.

«This is a regular state visit, which...

Kazakhstan Mobility Engineering, a joint venture established by Astana Motors and South Korean Motrex Co., has launched a new factory producing multimedia systems for cars. They are powered by software developed by Motrex Co. and support Kazakh language. The investments rate amounted roughly $31.7 million.   

Kanat Sharlapaev, minister of industry and construction, Nurlan Smagulov, founder of Astana Motors, Kim Junseon, CEO of Motrex, and Beknur Nessipbayev, CEO of Astana Motors, attended the facility’s official opening ceremony. The first batch of equipment for the Tucson and Elantra models has already been sent to the Hyundai Trans Kazakhstan plant. This production...

Kazakhstani researchers have found an innovative, eco-friendly approach to combat corrosion in oil production equipment using apple pectin. While still in the research phase and pending practical trials, this new method could substantially enhance the economic efficiency and environmental sustainability of Kazakhstan’s oil industry.

Given the sector’s role as a key contributor to the national GDP and budget, this breakthrough holds significant potential. Environmental risks such as oil spills remain a serious yet infrequent concern.

These risks are heightened at fields like Kashagan in the northern Caspian Sea, known for oil with high sulfur content.

Compounds such...

Kazakhstan’s Ministry of Digital Development is considering launching a pilot project aimed at simplifying the issuance of residence permits for foreign IT specialists. Under this plan, applicants could apply for permits remotely. Once confirmed as eligible, an applicant would then be able to enter Kazakhstan to complete the process and receive a residence permit, according to a resolution published on the www.legalacts.egov.kz website.

The pilot project is expected to be available in Astana and Almaty until the end of 2025, specifically for foreign IT specialists working with artificial intelligence (AI). To participate, applicants must submit a formal request at the...

Kazatomprom, a subsidiary of Samruk-Kazyna, and Mongolia’s Mon-Atom have agreed to cooperate on uranium exploration and production in Mongolia, the Kazakhstani atomic company announced in a statement.

«Kazakhstan — the world leader in uranium production — is focused on further strengthening its status. Collaboration with Mon-Atom is an important step in this direction. This partnership opens new prospects for joint uranium production projects in Mongolia, allowing both countries to solidify their positions in the uranium industry,» the company stated.

The agreement for strategic cooperation between the two mining companies was reached during President Kassym-Jomart Tokayev’s...

The Ministry of Ecology of Kazakhstan has identified a potential cause for the mass deaths of seals in the Mangystau region, suggesting that some of the animals may have died due to human factors, specifically entanglement in fishing nets.

According to Vice Minister of Ecology Zhomart Aliyev, the Ministry of Ecology and Natural Resources is closely monitoring the situation with the seals and a special regional commission is investigating the case.

«The information regarding the seal deaths has been confirmed and water samples have been collected. The regional commission includes representatives from veterinary inspection and the...

According to the Ministry of Finance, the government has achieved only 75.6% of its tax revenue target. Commenting on the matter, Finance Minister Madi Takiyev told a Kursiv.media correspondent that last year’s overly optimistic projections are partly to blame for the shortfall.

The minister explained that when planning this year’s budget, the ministry relied on budget performance data from previous years. Notably, in 2022, budget revenue increased by 143%, which was factored into projections for 2023 and subsequently 2024.

Due to lower-than-expected tax revenue, the budget deficit reached $6 billion in September, 17.7% higher than the planned $5.1 billion.

However...

From January to September, Kazakhstan’s export of crude oil and gas condensate to the U.S. reached 1.4 million tons, worth $934.2 million, marking a 1.7-fold increase in volume and a 1.8-fold increase in revenue, as reported by the State Revenue Committee under the Ministry of Finance.

According to open-source data, overall oil exports from Kazakhstan grew by 0.7% year-on-year to 53.8 million tons ($33.9 billion) over the first nine months of the year. Italy remains the largest importer of Kazakhstani oil, purchasing 23 million tons (+27.8%) produced in Kazakhstan for $14.9 billion (+41.9%).

The Netherlands acquired 5.5 million tons of...

Cheap Russian wheat is creating problems for Kazakhstani grain producers. In response, Kazakhstani authorities have introduced a temporary ban on grain imports to protect the domestic market. However, these measures are insufficient to address systemic issues within the industry, as reported by Halyk Finance.

According to the company’s analysts, Kazakhstan is experiencing tough competition in the global grain market, intensified by the influx of cheap Russian commodities. As a result, Kazakhstani producers are forced to lower their prices or risk losing traditional markets such as Uzbekistan, Afghanistan and Turkmenistan. According to the Ministry of Trade, over the first eight months...

Nurlan Smagulov, founder of Astana Motors, plans to expand vehicle leasing for individuals and businesses, with support from the U.S.-based Penske Automotive Group.

«Greg [Gregory Penske, head of the Penske Automotive Group] has given us valuable advice on developing our business. Next month, we’re sending our specialists to the U.S. to learn from Penske’s vehicle leasing operations. Penske is a market leader in the U.S., and we want them to help us develop this business in Kazakhstan, offering vehicle leasing to both individuals and businesses. We aim to introduce car leasing and elevate the market to...

A citizen of Kazakhstan saved four people, including a nine-year-old child, by donating his heart, kidneys and lungs for transplant, the Ministry of Healthcare reported. 

The donor was a 39-year-old man whose relatives consented to the transplant. The operation took place on Oct. 23 in the East Kazakhstan region.

«A male, born in 1977, received a heart; a female, born in 1962, received lungs; a child, born in 2015, received a kidney; and a female, born in 1966, obtained another kidney,» the statement read.

In Kazakhstan, an adult citizen who has been declared dead may...

Kazakhstan’s oil and gas company KazMunayGas (KMG), a subsidiary of Samruk-Kazyna, and China National Petroleum Corporation (CNPC), Asia’s largest oil and gas producer, will collaborate on oil prospecting in Kazakhstan’s Kyzylorda region, according to KMG.

«In 2013, oil production in the Kyzylorda region peaked at 11 million tons, but output has since dropped significantly, reaching under 4 million tons by 2023. This year’s forecast anticipates an additional 3% decline, bringing production to around 3.6 million tons, down 100,000 tons from last year. Therefore, KMG plans to ramp up exploration, survey new areas and introduce innovative technologies...

Thousands of people have gathered near the country’s parliament to protest the preliminary results of parliamentary elections, which declared the victory of the Georgian Dream political party. This victory would allow Georgian Dream to form a cabinet for the fourth time in a row, as reported by the BBC. Both President Salome Zourabichvili and the opposition have refused to accept the final results of the elections.

Giorgi Vashadze, one of the leaders of the United National Movement opposition party, spoke on behalf of the coalition of opposition parties, calling for new elections under «the supervision of an international election administration...

Qazaq Air, a Kazakhstani airline controlled by the Samruk-Kazyna National Welfare Fund, has successfully passed the IATA Operational Safety Audit (IOSA). The procedure covered all key company activities, including flight safety and passenger service. The recently obtained certificate will be valid until November 2026, according to the airline’s media statement. 

The audit procedures were carried out by an independent company certified by the International Air Transport Association (IATA) to do so. The air carrier believes that certificate will enable the company to reinforce its position in the airline market and continue enhancing its safety standards.

In late May, President Kassym-Jomart...

Analysts from Freedom Broker recommend buying shares of Kaspi.kz, a fintech company, following the publication of its third-quarter 2024 financial statements. They expect the price of the company’s American Depositary Share (ADS) to rise by 22%, increasing from $108.40 to $132 on Nasdaq.

«We have updated overall financial indicators in our valuation model, most of which have remained at the same level. We have also reduced the equity value, resulting in a price update for one ADS of Kaspi.kz, now set at $132, with a 22% growth potential from the current price. Thus, we have upgraded...

Kcell issued three-year coupon bonds worth $30.5 million on the Astana International Exchange (AIX), with proceeds allocated for refinancing existing liabilities, according to details shared with the Kazakhstan Stock Exchange (KASE). Just under a month earlier, Kcell closed a $184 million loan facility with Halyk Bank.

This latest bond issue marks the fourth under Kcell’s $203.7 million bond program. The recent issue volume is 150 units at a par value of $203,700 each and a 14.75% coupon rate (0.5% above the National Bank’s base rate).

On Sept. 4, 2024, Kcell issued $61 million in coupon bonds to improve its loan...