News

Russian insurance company AlfaStrakhovanie has paid compensation for the Embraer 190 aircraft operated by Azerbaijan Airlines (AZAL) that crashed near Aktau on Dec. 25, 2024, and has begun paying compensation to its passengers, Minval.az reported, citing Ilya Kabachnik, the general director of aviation and space insurance at AlfaStrakhovanie.    

“We paid full compensation for the aircraft in February. The primary part of the risk was reinsured by the Russian National Reinsurance Company,” he said.

The exact amount of compensation has not been disclosed, although experts estimate it at between $25 million and $30 million.

The...

Kazakhstan will adhere to its OPEC+ obligations and plans to compensate for excess oil production ahead of schedule, according to Minister of Energy Almassadam Satkaliyev. He made the statement during a recent meeting with OPEC+ members.

«Kazakhstan will take further measures to comply with its obligations, including the submission of an updated and front-loaded compensation plan to account for its outstanding compensation volumes recorded since January 2024,» the Ministry of Energy said.

The agency added that Kazakhstan took all necessary steps last month to fulfill its commitments.

In early February 2025, media reports indicated

A new $1.3 billion fertilizer manufacturing plant will be built in Kazakhstan by ESTA Construction, according to the government’s press service.

After negotiations with ESTA Construction CEO Mustafa Toprak, Prime Minister Olzhas Bektenov instructed the cabinet to sign an investment agreement with the Turkish company within two weeks.

The plant will be built in the Mangystau region, near the port of Kuryk, to streamline the export of fertilizers across the Caspian Sea. The new facility will produce up to 700,000 tons of carbamide and 42,000 tons of ammonia per year. This will reduce Kazakhstan’s dependence on imported fertilizers and provide...

Currently, no banks in Kazakhstan are using the Bank of Russia’s System for Transfer of Financial Messages (SPFS), the Russian equivalent of the SWIFT financial transfer system, according to the National Bank of Kazakhstan.

Kazakhstan’s National Payment Corporation (NPC), a subsidiary of the National Bank responsible for interbank payments and money transfers, previously cooperated with SPFS. In the summer of 2024, the NPC was integrated with Russia’s SPFS through an intermediary bank messaging system (BMS). At that time, at least one Kazakhstani bank, Bereke Bank, was using SPFS.

The National Bank did not directly answer Kursiv.media’s inquiry about whether it...

President Vladimir Putin of Russia would never use nuclear weapons, according to Belarusian President Alexander Lukashenko. He made this statement in an interview with Mario Nawfal, the host of the largest show on X (formerly Twitter), as reported by the BeLTA news agency.

«Putin wasn’t in a situation where there was a need to push the nuclear button. I don’t think so. At least, he has never mentioned that he was ready for such radical measures. He wasn’t ready, I suppose. He was as ready to push the nuclear button as you were in the...

Starting March 20, Uzbekistan will restrict access to the Chinese marketplace Temu. The country’s officials have advised customers to stop ordering goods from the platform, cancel existing orders and request refunds, as reported by Gazeta.uz.

«The decision has been made in accordance with a resolution by the country’s cabinet, which requires that only Uzbek residents operate e-commerce platforms,» Gazeta.uz reported.

Uzbek officials are allegedly unhappy with international platforms violating the country’s legislation regulating e-commerce, retail, data privacy and consumer rights.

According to Gazeta.uz, new rules for international online platforms will take effect in Uzbekistan on...

Between March 3 and March 10, Uzbekistan will host the Week of Respect for Women, a nationwide initiative aimed at honoring and supporting women. During this period, women will receive free medical checkups and participate in workshops on cooking and sewing, according to the Gazeta.uz news portal.

In celebration of International Women’s Day, the country will award 331 women with the «Mutabar Ayol» («Honorable Woman») badge for their contributions to public life. Young women listed in the Women’s Notebook, a database of those in need of social support, will receive discounted or free access to museums, theaters, cinemas and concerts...

Multimillion-dollar spending on image-building forums pays off through investment flows to Kazakhstan, according to Arman Kassenov, deputy minister of national economy. He said such events are a crucial tool for attracting capital and promoting exports.

«Image-building events are not used exclusively by Kazakhstan but are a common practice worldwide. They promote exports and attract investment. Therefore, a reasonable number of such events is justified,» Kassenov said during a meeting of the country’s cabinet.

He highlighted that Kazakhstan receives around $20 billion in foreign investment annually and an average of $50 million daily. According to Kassenov...

The volume of trade in stocks and deposit receipts on the International Trading System (ITS) in Astana hit a historic high of $806 million in February, marking a 20.3% increase from $670 million in January, the platform said in a statement.

«The trade volume at ITS continues to grow as the number of investors joining the platform — following trends in the global stock market — also increases,» the ITS press service emphasized.

According to the platform, the surge in trade volume is driven by soaring demand for new instruments, particularly ETF shares. This demand...

The Kazakh-British Technical University (KBTU) has been returned to state control. The prestigious university was previously owned by the Nursultan Nazarbayev Educational Foundation (NNEF), which was established by Dinara Kulibayeva, the middle daughter of former president Nazarbayev, along with two other individuals.

As of Feb. 27, 2025, KBTU’s financial statements confirm that the university’s ownership was transferred to the Returned Asset Management Company (RAMC), a government-owned commercial entity.

Concurrently, NNEF has relinquished its shareholding in the university. Public records on the eGov.kz portal list Dinara Kulibayeva, Galina Samarskaya and Askar Nurpeisov as the three founders of the foundation.

KBTU was...

Kazakhstan’s Ministry of Internal Affairs and Ministry of Digital Development, Innovation and Aerospace Industry plan to launch a pilot project allowing Kazakhstani citizens to obtain identity cards and passports online.

«To launch a pilot project for providing a government service for online issuing of identification cards and passports as an alternative option to the existing procedure,» stated a draft law published on Legalacts.egov.kz.

According to the draft document, every action required for reissuing an expired ID can be completed via the eGov.kz website and mobile app.

«The project has been developed...

Kazakhstan’s Ministry of Energy needs more time to assess the feasibility of building an oil export pipeline along the Caspian seabed toward Azerbaijan, the agency told Kursiv.media. The project would also require coordination with other coastal states in the Caspian Sea.

«Given the expected increase in oil production in the medium term, and as part of the development of the Trans-Caspian International Transport Route, the ministry, along with the national company KazMunayGas (KMG) JSC and other stakeholders, is working to establish additional transportation routes. As for the potential construction of a new oil pipeline along the...

Kazakhstan and Azerbaijan have agreed to design and build a fiber-optic cable between the two countries on the Caspian Sea seabed. The arrangement was officially signed during a visit by Kazakhstan’s Prime Minister Olzhas Bektenov to Baku, Azerbaijan, as reported by Primeminister.kz   

«The project is of strategic importance for enhancing the quality and reliability of communications, as well as improving data transmission between Asia and Europe,» the press release stated.

The construction of the Trans-Caspian fiber-optic cable is expected to be completed in 2025. The project is being implemented by AzerTelecom and Kazakhtelecom, with...

Kazakhstan and China are strengthening their cooperation. The two sides plan to upgrade the Shymkent refinery. They have completed the first phase of modernization and intend to increase the refinery’s capacity to 12 million tons per year in the second phase.

To facilitate this process, the Ministry of Energy of Kazakhstan, KazMunayGas, PetroKazakhstan Oil Products and CNPC have agreed to sign a new agreement to begin expansion work.

Additionally, both sides plan to establish a joint venture to produce up to 1 million tons of carbamide per year to meet the needs of Kazakhstani farmers. The Chinese giant is expected...

Legendary Spanish tenor José Carreras will perform in Astana and Almaty in June 2025 as part of his farewell world tour.

Carreras made his first public performance at the age of eight and launched his professional career in 1970 at Gran Teatre del Liceu in Barcelona at the age of 24. He made his tenor debut in Norma, performing alongside the renowned soprano Montserrat Caballé.

Over the years, Carreras became one of the world’s most celebrated opera singers, earning acclaim for his interpretations of Giuseppe Verdi and Giacomo Puccini operas. He is also widely recognized for his role in The...

A possible acquisition of Jusan Bank by Vyacheslav Kim, a majority shareholder in Kaspi.kz and the richest person in Kazakhstan, may lead to synergy between the two financial institutions. It would also be an additional driver for Kazakhstan’s stock market, analysts from Freedom Broker believe. They made this assumption within Freedom Broker’s review of prominent investment ideas for spring 2025.

In its survey, Freedom Broker also covered several Kazakhstani companies, whose stocks may show «quite a good performance.» These include KazMunayGas, which has a stake in the Tengiz field that is expected to significantly boost its production; Halyk Bank, with...

Starting March 3, offerings of securities with settlements in Chinese yuan are available on the Kazakhstan Stock Exchange (KASE), according to a statement from the exchange’s press office.

«New modes for securities offerings are implemented to provide additional opportunities for securities market participants to attract investors,» the release stated.

Securities can be placed through specialized trading, subscription and public offering. In late February 2025, Hong Kong-based fintech company AnchorX received approval to issue stablecoins, a type of cryptocurrency pegged to the yuan, in Kazakhstan.

Kazakhstan’s Energy Ministry is confident that Western sanctions against Russia will not target the Caspian Pipeline Consortium (CPC).

As the ministry told Kursiv.media, Kazakhstan has been negotiating with the U.S. Office of Foreign Assets Control (OFAC) since the beginning of the sanctions campaign to keep the CPC from coming under pressure. So far, the pipeline has not been affected and continues to have access to spare parts and equipment. This situation remained unchanged in the EU’s 16th sanctions package, the agency said.

For Kazakhstan, the CPC is the main export route for its oil and was designed for that purpose...

Studies suggest that frequent use of artificial intelligence (AI) is contributing to a decline in cognitive functions. In response, Kazakhstan plans to regulate AI to ensure that children do not lose the ability to think, analyze and engage in critical thinking, according to a recent presentation of the draft AI law in the Mazhilis, the lower house of Kazakhstan’s parliament.

MP Ekaterina Smyshlyayeva, the author of the draft law, stated that research shows frequent AI use can diminish critical thinking and analytical skills, posing a potential threat to children’s cognitive development.

«Just because you’re using AI...

Kazakhstani banks ramped up the issuance of cards within the Mastercard and Visa payment systems in January, according to the National Bank. This came amid reports that the validity period of cards issued to foreigners would be limited to one year.

As of Jan. 1, there were 54.6 million international payment cards in circulation in Kazakhstan, increasing to 56.7 million by Feb. 1. The month-on-month (MoM) increase was 2.1 million or 3.9%. According to Rbc.ru, this was the sharpest pace of increase since April 2023, when the number of cards rose by 4%.

A similar rate — 3.6% — was...

The Freedom Holding Corp. Kazakhstan Manufacturing PMI (Purchasing Managers’ Index) posted 52.1 in February, up from 51.5 in January. The index ranges from 0 to 100, with readings above 50 indicating growth and below 50 signaling contraction. The latest figure marks 12 consecutive months of strengthening operating conditions.

A key driver of February’s overall improvement was the ability for firms to secure new orders. New business increased for the 13th straight month, growing at a faster pace than in January. Respondents cited improved demand, new contract signings and the impact of advertising.

The increase in new orders led to a...

Kazakhstan has dramatically increased flower imports from China, surging nearly 13 times from $0.6 million in 2023 to $7.5 million in 2024. As a result, China is now the fourth-largest flower supplier to Kazakhstan, rising from its previous fifth-place position.

In 2024, Kazakhstan imported a total of $93.6 million worth of flowers, a 52.8% increase year-on-year (YoY) from $61.3 million.

The top five flower suppliers to Kazakhstan remain Ecuador, the Netherlands, Kenya, China and Colombia, collectively accounting for 97.5% of total flower imports. Even with a 13-fold increase in exports, China’s share of Kazakhstan’s flower imports only reached 8%, though...

Kazakhstan could export up to one million tons of grain to the European Union (EU) if no barriers to exports are set by Russian seaports, Kazakhstan’s Ambassador to Russia Dauren Abayev stated in an interview with Ria.ru. According to the official, Russia does not accept Kazakhstani grain for transshipment, prioritizing local traders instead.

«At numerous meetings and negotiations with our Russian counterparts, we are working to lift the limitations. This would allow Kazakhstan to export up to one million tons of grain to EU markets,» he said.

In 2024, Kazakhstan reported a grain yield of...

Uzbekistan’s President Shavkat Mirziyoyev has approved a new concept of state religious policy, according to the Gazeta.uz portal. The policy was introduced in response to recent attempts to impose religious-based rules that challenge gender equality, scientific progress and national interests.

Although Uzbekistan declared itself a secular state in 1992, the document notes that some citizens have advocated for religious-based restrictions, including:

Additionally, some individuals have questioned gender equality and certain civil servants have failed...