News

Freedom Holding Corp. (FRHC, +30% this year) is going to acquire MKM Partners, a brokerage firm from the U.S. This is the second U.S. company Freedom is going to buy in the country. Under the terms of the agreement, Freedom will acquire all the member interest of MKM Partners for cash and Freedom common stock. Completion of the transaction is subject to certain conditions, including approval of FINRA.

As Timur Turlov, Freedom Holding Corp. CEO noted MKM Partners is a well-respected institutional equity trading, sales, and research firm. With one of the largest distribution forces in the U.S. and a...

Dmitry Rogozin, head of the Russian space agency Roscosmos, has called on his CIS counterparts to consider creating the Eurasian Space Agency, according to the RIA Novosti news agency. 

While speaking at the EAEU Space Integration Business Forum, Rogozin said that he would like to discuss this topic because the Eurasian Space Agency would be able to unite many countries.

Rogozin noted that industrial facilities across the former Soviet Union used to work in conjunction with each other.

He also said that Roscosmos will not cooperate with SpaceX directly because SpaceX has tried to push Russia out of the market...

According to the press service of the Financial Monitoring Agency, fraud with state subsidies for farmers was solved in the Turkestan region.

As a result of the law enforcement operation called Kazyna, the police have solved a fraud case. Two residents of the Turkestan region, who were representatives of the local company Sybaga, had applied to the state-owned Agrarian Credit Corporation for an $875,254 loan. They claimed they need this money to purchase breeding stock. They even approached the corporation’s officials with documents proving a money transfer to Russia where local company Merkit acted as a supplier. 

To cover part...

Every third vehicle produced in Kazakhstan will be exported abroad, according to BeibutAtamkulov, minister of industry and infrastructural development.

As the official stated during the government’s meeting today, the country is going to be a vital part of the global supply chain for KAMAZ and Hyundai once the industrial strategy is completed in 2025. 

«One in three automobiles produced in Kazakhstan is going to be headed abroad,» he said.

Thanks to the growing amount of auto parts that are produced inside the country (bumpers, wheels, rubber carpets, accumulators, etc.) the percentage of local content in goods is going...

The liquid gas production in Kazakhstan is going to be increased by 300,000 tons and reach 3.5 million tons by 2025 in total, according to Minister of Energy Magzum Mirzagaliyev’s report to the government.

As the official noted, the number of investments for this sector is going to reach $1.2 billion by 2025. In addition, the country is going to raise natural gas production by 1.5 billion cubic meters.

However, to achieve that goal and increase the liquid gas production, three additional projects must be implemented first, Mirzagaliyev said. 

«First of all, this is a small gas treatment plant...

The Central Electoral Commission (CEC) of Kyrgyzstan has published preliminary results of the parliamentary elections held on Sunday, the Kabar news agency reported.

According to the CEC, it has received data from 2,247 automatic ballot paper counting machines (Kyrgyzstan has 2,494 such automated ballot boxes). 

«As preliminary data shows 1,182,291 voters out of 3,703,420 (31.92%) took part in the elections,» the CEC said.

So far, there are six political parties that are mentioned by CEC as winners of the elections: Ata Zhurt (16.44%), Ishenim (13.2%), Yntymak (10.65%), Alliance (8.07%), Butun Kyrgyzstan (6.58%) and Yiman Nuru (5.95%). All of...

Some people are preparing for a violent takeover in the country. After the parliamentary elections, the government will play hardball, according to the Interfax-Kazakhstan news agency citing President SadyrJaparov.

The authorities have gathered proof and know for sure about the mounting coup, said Japarov.

«People who will take to the streets for no reason will be punished. We are going to work transparently and fairly. After the upcoming elections, there will be five years with no elections; we have to deal with the economic issues,» added Kyrgyz leader.

On Thursday the Kyrgyzstani government rolled out heavy security in...

North Caspian Operating Company (NCOC), a consortium of six foreign companies and Kazakhstan’s national company KazMunayGaz, is going to start next year to develop a basic design of the second phase of the Kashagan project. It is expected that the production level will surge at least twofold.

The first stage of the project at a cost of $55 billion has been implemented since 2016 and will last until the end of 2024.

So far, Kashagan produces about 400,000 barrels of oil per day. Once the first stage of the expansion is completed, the peak of production might reach 450,000 barrels...

President Kassym-Jomart Tokayev has appointed Kanat Bozumbayev, a former minister of energy as the new head of the Almaty region, the president’s press service reported.

Bozumbayev is going to replace Amandyk Batalov, who served as akim (governor) of the region up until recently. The president has already signed all proper documents.

«To appoint Kanat Bozumbayev to the post of governor of the Almaty region and discharge him from the position of an assistant to the president of the Republic of Kazakhstan,» the president’s edict said.

Kanat Bozumbayev is an economist; he has graduated from the Kazakh State Academy...

Russian Ministry of Transport has suggested to charge alternative fuel motorists a tax for any kilometer they drive, the Izvestiya newspaper reports.

According to the ministry, alternative fuel vehicles have the same impact on road infrastructure as traditional transport does. The maintenance of all these roads is supported with money from so-called road funds.

Also, the agency wants the government to impose excise duty on natural gas-based fuel, power for electric cars and hydrogen. Moreover, the transport system officials suggest charging cargo truck drivers for using any roads except municipal roads. This would allow the ministry to raise more money...

Two former prime ministers of Kyrgyzstan Djoomart Otorbayev and Temir Sariyev, who are the key figures of the cause celebre linked to the Kumtor gold mine, have written their pledge to not leave the country, according to the 24.kg website. 

Among other charged offenders who have been released out of jail recently are Torobai Zulpukarov and Iskhak Pirmatov, former deputies of the Kyrgyz parliament; former prime minister Omurbek Babanov, deputies Talant Uzakbaev and Almazbek Baatyrbekov. All of them have written a pledge to not leave the country and have received their new pre-trial restrictions.

However, several former top officials are...

Polish Prime Minister Mateusz Morawiecki said that the government is ready to tighten sanctions against Belarus including closing border crossings to halt transit of cargo through the neighboring country, according to the Interfax news agency.

While speaking at the press conference in Tallinn, Estonia, Morawiecki said that the Belarusian side uses migrants from the Middle East as a human shield and is trying to create an energy crisis.

«This is a hybrid war; the pressure on the eastern border of the EU is rising,» he said.

The Polish government does not hide its anxiety about the behavior of...

Kazakhstani Mazhilis has approved a draft law on ratification of the agreement between the governments of the U.S. and Kazakhstan on air travel, the Interfax Kazakhstan news agency reported.

According to Beibut Atamkulov, minister of industry and infrastructural development of Kazakhstan, the agreement is aimed at the creation of a legal basis for direct air travel between Kazakhstan and the U.S.

«In accordance with recommendations of the International Civil Aviation Organization on liberalization of air travel and suggestions from the American side, the agreement will allow any airlines to set any number of direct flights to any cities in...

Shareholders of the Caspian Pipeline Consortium (CPC) are going to increase its capacity up to 80 million tons of crude oil per year. The project was announced by the President of Kazakhstan Kassym-Jomart Tokayev, who took part in the official event commemorating the company’s 25th anniversary.

As Tokayev noted, CPC is an impressive example of how smoothly and effectively all shareholders can work with each other.

«Since 2011 more than 750 million tons of Kazakhstani crude oil have been exported through CPC to the global market. The pipeline’s capacity has grown 2.5-fold to 67 million tons. Now, we are...

Kazakhstan Football Federation is going to skip the state or quasi-state organizations’ money as an option of its funding starting from 2022, according to Azamat Aitkhozhin, secretary-general of the federation.

Starting next year, the Kazakhstan Football Federation is going to cover all its needs with money from UEFA and sponsors only.

The decision was made after the total defeat during the 2022 World Championship qualification match against France with an 8:0 score. The federation was immediately criticized for the poor management of the team.

«First of all, I want to say sorry to all our fans because we’ve lost...

Prominent professional boxer from Kazakhstan Gennadiy Golovkin has announced his next world champion title fight.

The next opponent of Golovkin, the current middleweight IBF, IBO world champion (41-1-1, 36 КО) is Ryota Murata, a WBA (Super) champion from Japan (16-2, 13 КО).

«Big drama in Japan. See you on December 29,» wrote GGG on his Instagram account. 

The title fight is going to be on December 29 at Saitama Super Arena in the Japanese city of Saitama. The facility is designed to house about 37,000 spectators. However, the only way to attend the event for viewers is to prove that...

The Kazakhstan Association of Blockchain Technology discussed issues of electricity supply for persons engaged in digital mining activities. The meeting was held in the Ministry of Energy, and it was also attended by representatives of the Blockchain Association and the data-centers and technology industry, the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, and KEGOC JSC.

Participants of the meeting have received a proposal from the Ministry of Energy to identify “grey” miners who are not registered in the national register to confirm the legal status of their business activity. In addition, it has been discussed...

The Kazakhstan Association of Blockchain Technology discussed issues of electricity supply for persons engaged in digital mining activities. The meeting was held in the Ministry of Energy, and it was also attended by representatives of the Blockchain Association and the data-centers and technology industry, the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, and «KEGOC» JSC

«We have built a constructive dialogue with the Ministry of Energy. Herewith we have got all the answers to our questions that were troubling. Of course, as citizens of our country, we are also interested in...

2021 COAS Pakistan Open Tae Kwon Do Championships have ended in Islamabad. According to the Tae Kwon Do Federation of Kazakhstan, sportswomen from Kazakhstan impressed both competitors and spectators.

Kazakhstani athletes won six gold and one silver medal in the G-1 class competitions, including Aidana Edilbaeva in the weight category up to 46 kg, Nurai Bauyrzhanova (up to 49 kg), Zhadyr Khairullina (up to 62 kg), Nurai Khusainova (up to 67 kg), Jansel Deniz (up to 73 kg) and Aigul Elubai (over 73 kg).

Diana Absenova, representing Kazakhstan in the weight category up to 62 kg, became the silver medalist...

Over nine months of this year, the number of people who traveled by air increased by 81% up to 6.9 million, according to the country’s Ministry of Industry and Infrastructural Development.

The number of those passengers who received airport services has also increased by 70% to 12.6 million people (7.4 million over the same period of 2020 and 12.3 million in 2019).

All flight destinations inside the country have been restored at the moment (57 routes with 744 flights per week). Also, the country’s airlines have restored flights to 23 international destinations (63 routes with 247 flights per week) such as...

Due to a shortage of electricity during peak-hours, Kazakhstan is going to import that lacking power from Russia starting from November. The country may purchase about 300-400 Megawatts at private rates. Given that it is unlikely Kazakhstan would be able to solve the problem soon, the imports of energy from the north may last three or even five years.

This winter Kazakhstan has come across with quite a big deficit of electricity. 

«During peak activity hours the power consumption in the country exceeds the same rate last year by 1000-1500 Megawatts,» said KEGOC, a company that runs a national...

Kazatomprom, the national nuclear company in Kazakhstan has lowered its outlook for uranium production this year from 22,500 tons to 21,700 tons, according to the company.

Lower expectations in production results in 2021 have been caused by delays in mine preparation work due to the pandemic. COVID-19’s impact on the entire supply chain was tremendous. Now the company has no or limited access to some materials and equipment (chemicals, some pipes and pumps, etc.). That’s why the company has adjusted the schedule.

«The output is expected about 21,700 – 22,000 tons (previously it was 22,500 – 22,800 tons),» the...

Transtelecom, a communication company from Kazakhstan has announced its plans to launch five Starlink base stations in the country. The company reported that the facilities are going to be stationed in the following regions: Nur-Sultan, Almaty, Aktau, Uralsk and Kyzylorda.

The project has been shown to President Kassym-Jomart Tokayev during Digital Bridge, an international forum that is occurring in the capital of Kazakhstan – Nur-Sultan. 

«Starlink experts have reviewed the technical potential of our optical fiber system and data centers and their verdict was positive. Currently, we are working on bringing Starlink equipment to Kazakhstan,» the company said.

The government has decided to sell Ust-Kamenogorsk and Shulba hydro-electric power stations to a consortium of investors from Kazakhstan and Abu Dhabi. The deal is a part of a $6 billion investment contract. Investors have agreed to make both stations private and to build new energy facilities in the country.

The acquisition of the largest hydropower stations in the East Kazakhstan region was supposed to take place in May. However, the signing of a contract is scheduled for December 1, according to the website of the Committee on State Property and Privatization.

«Both stations are going through an assessment...