News

Since March 2023, when the individual bankruptcy law came into effect, Kazakhstanis have had approximately $100 million in loans written off, according to the Ministry of Finance.

Data from Qoldau, a digital platform for businesses and citizens, shows that more than 158,000 citizens have applied for bankruptcy in Kazakhstan. Out of these, 116,300 applications were rejected, over 13,000 were approved and 19,600 cases were finalized.

Nearly two-thirds (62%) of applicants are aged 18 to 40. The Turkestan and Almaty regions lead in the number of applicants, with 18,000 in each region. Almaty city ranks third with 12,800 applicants. In...

KazTransOil (KTO), a Kazakhstani pipeline company and a subsidiary of KazMunayGas, says that a short-term shutdown of the Druzhba pipeline will not impact Kazakhstan’s oil supplies to Germany, as reported by the Interfax news agency. The company also confirmed that oil supplies will proceed as initially scheduled.

«The oil shipment will be fulfilled according to the timeline adopted by the Ministry of Energy of Kazakhstan,» KTO said in a statement.

On Dec. 20, some media outlets reported that oil shipment to Europe via the Druzhba pipeline was suspended due to technical issues. The pipeline is...

Kazakhstani EMC Agro has exported 20 tons of frozen pork to Armenia and is looking into delivering the same amount of meat to Georgia. The Ministry of Agriculture of Kazakhstan believes that new markets are going to increase the export share to potentially 50% of the total meat production.  

«Armenia and Georgia’s markets unlock new horizons. Both nations have expressed their willingness to acquire up to 400 tons of our product monthly,» the company said in a statement.

Previously, EMC Agro, whose current production capacity varies between 700 and 800 tons of pork per...

Artificial intelligence (AI) has the potential to replace civil servants in Kazakhstan for routine tasks, which could lead to a reduction in government staff, according to Minister of Digital Development Zhaslan Madiyev. He made the remarks in response to questions about the future of government jobs amidst the AI boom.

Madiyev explained that AI will automate repetitive tasks, freeing up government officials to focus on more creative, intellectual and strategic work that requires human involvement. However, he noted that there are currently no definitive predictions about the potential scale of staff reductions.

«We aim to improve...

Kazakhstan has not yet launched its supercomputers, despite an initial deadline set for the end of 2024. The delay is due to the country still waiting for the export license for American-made chips from the U.S. government, according to a statement from Kazakhstan’s Ministry of Digital Development in response to an inquiry by Kursiv.media.

«The supercomputer project is currently in the implementation phase. Kazakhstan has submitted a request for an export license for Nvidia chips. Negotiations with the U.S. government regarding the matter are underway,» the statement reads.

An export license is a document issued...

The first ever Turkestan photos were taken in the 1860s and published in 1872 in the Turkestan Album. Later in the 1890s, additional shots were taken, including those by the renowned French photographer Paul Nadar, further shaping Turkestan’s exotic image bewildering European audiences.

The first mentions of the town date back to the 10th century A.D., although Turkestan is officially considered to be 1,500 years old. Over its long history, the city has undergone several name changes. In the 12th century, the prominent Turkic poet and thinker Khoja Ahmed Yasawi was buried there. The mosque and mausoleum built at his...

Over the first 11 months of the year, Almaty hotels reported more than $133 million in revenue, marking a 28% increase compared to the same period last year and a threefold surge compared to pre-pandemic levels. The increased financial indicators have attracted new investors to the industry, and Almaty’s hotel capacity is now expected to grow by one-third by 2027.

“For the third year in a row, Almaty has been experiencing a severe lack of hotel rooms. Accommodating groups of tourists during peak season has become a big challenge. For example, 22 businessmen who arrived in...

Kazakhstan’s government is exploring the use of the digital tenge to improve transparency in spending on energy and utility sector projects, according to a statement from the cabinet.

«Prime Minister Olzhas Bektenov chaired a meeting to discuss the implementation of the President’s directive to modernize the country’s housing and utilities sector. The plans aim to reduce the wear and tear on critical infrastructure: in heat supply from 53% to 40%, in electricity supply from 62% to 45%, in water supply from 39% to 34% and in water disposal from 54% to 40%. By 2029, 6.8 trillion...

In November 2024, Bloomberg columnist Javier Blas referred to Kazakhstan as an «internal foe» of OPEC+ for consistently exceeding its oil production quotas throughout 2024. The nation’s budget heavily relies on oil revenues, leading many experts to argue that adhering to the OPEC+ agreement is financially disadvantageous for Kazakhstan.

Struggles with OPEC+ compliance

In November 2024, Kazakhstan increased its daily oil production (excluding gas condensate) by 16% compared to October, the only month in 2024 when the country significantly reduced its output. By Nov. 24, oil production had reached 1.498 million barrels per day (mmbpd), exceeding its OPEC+ quota of...

President Kassym-Jomart Tokayev met with Energy Minister of Kazakhstan Almasadam Satkaliyev, instructing him to ensure that the utility system functions smoothly during the heating season and to take all necessary measures to accelerate the construction of a nuclear power plant (NPP), as reported by the president’s press service.

«The president debriefed the minister’s report on the key results of the ministry’s work during the year and its plans for the further development of the fuel and energy complex in Kazakhstan. The minister also provided a summary of the implementation of large projects in the oil, gas...

From January to November, Kazakhstani companies slightly increased their fixed capital investments (FSI) by 3.1% year-on-year, up from 1.9% during the first nine months. However, investments from companies’ own funds have been gradually declining, according to analysts from Halyk Finance, who view this trend as negative.

Moreover, Halyk Finance believes the recent acceleration in fixed capital investments is insufficient, as it lags behind last year’s growth of 14.6%. This decline is likely due to a 23.3% drop in investments in the mining sector, compared to a 1.4% increase last year, along with decreases in trade (-17%) and agriculture (-9.3%).

Meanwhile...

YouTube traffic in Russia has dropped to just 20% of its usual rate, leading IT experts to conclude that the platform has effectively been blocked, even though no official announcement has been made.

«YouTube traffic continues to decline. Google’s monitoring service now reports a traffic score of 8.5 from the Russian Federation, down from 40 points before the ‘slowdown.’ This indicates that traffic is currently at only 20% of its normal level. This is not mere throttling but a real blocking. We can confirm: YouTube is effectively blocked in Russia,» IT expert Mikhail Klimarev stated.

Kazakhstan’s National Security Committee (Rus. KNB) reported on the trial of two men who participated in terrorist organizations in Syria. Their return to Kazakhstan was facilitated by the KNB’s collaboration with international partners.

The trials of the two men, who were involved with terrorist organizations in Syria between 2020 and 2022, have concluded. The criminal investigations were conducted by the KNB.

«In close collaboration with foreign partners, our operatives identified the suspects abroad, brought them back to Kazakhstan and placed them under arrest. One of the individuals, a resident of the Turkestan region, was found guilty...

Cargo from China to Uzbekistan will soon bypass Kazakhstan, traveling instead through Kyrgyzstan. The construction of a new railroad connecting China, Kyrgyzstan and Uzbekistan is scheduled to begin on Dec. 27, according to Kyrgyz President Sadyr Japarov, who made the announcement during the third People’s Kurultai (Assembly) in Bishkek.

«The China-Kyrgyzstan-Uzbekistan railroad project, which remained only a concept for decades, is finally becoming a reality. When we initiated this project, many doubted it and even mocked it, calling it a fairy tale. Now, it is clear to everyone that this is no fairy tale but a...

The U.S. government has warned American citizens against traveling to Belarus. Those who are already in the country have been advised to leave as soon as possible. According to the U.S. State Department, there is a high risk of potential protests in Belarus.

«Do not travel to Belarus due to the Belarusian authorities’ arbitrary enforcement of local laws, the risk of detention, the continued facilitation of Russia’s war against Ukraine, the potential for civil unrest, and the Embassy’s limited ability to assist U.S. citizens residing in or traveling to Belarus. U.S. citizens in Belarus should depart...

According to Minister of Transportation Marat Karabayev, Kazakhstan needs a single company responsible for the supply of jet fuel to airports and other market participants throughout the country.

«The supply of jet fuel is one of the most crucial issues for us. Currently, Kazakhstani airports are compelled to acquire jet fuel from neighboring countries. To resolve the problem of shortages of fuel, we are proposing the establishment of a single company responsible for the task. This would allow us to remove ineffective mediators, stabilize fuel supply, and offer our prices on jet fuel for flights going...

In the third quarter (Q3) of 2024, the assets of Kazakhstan’s banking conglomerates rose by 4.7% quarter-on-quarter (QoQ), reaching 48.2 trillion tenge (approximately $92 billion), according to the Agency for Regulation and Development of the Financial Market (ARDFM).

As of Oct. 1, the largest banking groups by assets were:

Collectively, these three banking giants hold $59 billion in...

A farm in Kasymbek Datka village, located in the Turkestan region of Kazakhstan, is celebrating its second banana harvest this year. But how is it possible to grow tropical fruit in Kazakhstan? Kursiv.media decided to find out.

The small village, home to around 4,000 residents, had rarely attracted media attention until 2023, when GenGroup Qazaqstan invested $3.7 million to establish a banana farm. Located 25 kilometers from Shymkent, the agricultural complex spans five hectares and provides jobs for 15 local residents.

This December, farm workers are gathering their second banana harvest of the year. Preliminary estimates suggest the farm will...

Aktau will be developed following the models of Baku and Dubai. As part of this initiative, the site plan has been revised to include the construction of a 10,000-seat stadium, a maritime passenger terminal, new beaches and an architectural structure called Musical Dombra. These plans were announced by Nurdaulet Kilybai, governor of the Mangystau region, during a press conference at the Central Communications Service in Astana.

The region will receive $317 million in investments to implement 14 major projects as part of its tourism development plan through 2027.

The number of domestic and international routes operated by Aktau Airport is...

Kazakhstan is set to launch a new venture capital fund of funds to attract $1 billion in investments. The government believes this initiative will provide access to crucial technologies to help transform the economy.

«Our main goal is to create conditions that retain local talent and attract new expertise, support startups at all stages of their development and bring global competencies to Kazakhstan,» said Prime Minister Olzhas Bektenov.

The new fund will be the first of its kind to invest in venture capital funds. Previously, only a few venture capital funds were established in Kazakhstan...

A groundbreaking ceremony marking the construction of a school financed by Kazakhstan was held in the Gaziantep province of Turkey, a region that heavily suffered from the 2023 earthquakes, as reported by Kazakhstan’s Agency for International Development (KazAID).

«On Dec. 19, 2024, a groundbreaking ceremony was held in the town of Nurdagi, in the Gaziantep province of the Republic of Turkey, marking the start of construction of a school initiated by President of the Republic of Kazakhstan Kassym-Jomart Tokayev. Preparatory work for excavation and mobilization of construction resources has also been completed,» the agency said in...

The Astana trading platform ITS aims to expand its daily trading volume to $100 million or $3 billion per month next year. In November, the platform reported a trading volume of $66 million.

«In October, we reported a trading volume slightly less than $40 million and $66 million in November. Our moderately optimistic goal is to reach $100 million per month by December. In fact, we are targeting $100 million per day in 2025. These goals are ambitious indeed but still achievable. We are connecting new players from various jurisdictions and launching new products. We also...

During a meeting between Hou Qijun, president of China National Petroleum Corporation (CNPC) and Askhat Khassenov, chair of Kazakhstan’s national oil company KazMunayGas (KMG) in Beijing, the two sides reviewed a summary of the draft feasibility study for nitrogen-based fertilizer production. The project is expected to be completed by 2029 at an estimated cost of approximately $1.5 billion, with a planned annual capacity of 1 million tons.

Furthermore, KMG reported exploring new potential oil fields on the eastern side of the Pre-Caspian Depression in collaboration with China Southern Petroleum Exploration and Development Corporation (CNODC), a subsidiary of CNPC.

During the...

Kazakhstan has no intention of legalizing soft drugs, unlike neighboring Kyrgyzstan. The country’s Ministry of Internal Affairs remains focused on combating drug-related crimes and will not reconsider its position on marijuana, according to Sanzhar Adilov, deputy minister of internal affairs.

During a briefing at the Senate, the upper house of Kazakhstan’s parliament, journalists asked Adilov if the ministry might reconsider its stance on drug policy following Kyrgyzstan’s recent legalization of soft drugs and Kazakhstan’s easing of penalties for drug-related offenses. Adilov firmly asserted that this issue is not currently under consideration.

«We are not exploring changes...