News

Timur Turlov, head of Freedom Holding Corp. (FRHC), has surpassed Vyacheslav Kim, co-owner of Kaspi.kz and the former richest person in Kazakhstan, to become the country’s wealthiest individual, according to Forbes’ World’s Billionaires List.

Currently, Turlov’s fortune is valued at $7.2 billion vs. Kim’s $7.1 billion. Notably, just several days ago, the fortune of the FRHC CEO was evaluated at $5.8 billion.

As a result, the top six richest Kazakhstanis occupy the following positions in the global ranking: Timur Turlov (471st) with $7.2 billion, Vyacheslav Kim (474th) with $7.1 billion, Vladimir Kim (628th) with $5.7 billion, Dinara Kulibayeva (676th...

Today, on March 14, Tajik President Emomali Rahmon signed a law revoking criminal liability for likes and reactions on social media, as reported by the government’s press service.

The new law eliminates penalties for social media posts previously considered by the Tajik authorities to support extremism.

Prior to the introduction of the new law, likes and reposts of prohibited content could be regarded as public justification of terrorism, carrying a penalty of up to 15 years in prison.

The penalization of internet activity had long been criticized by human rights activists, who viewed it as a violation of freedom of...

After negotiations with Deputy Prime Minister of Kazakhstan Kanat Bozumbayev, representatives of the World Bank announced their readiness to support the implementation of a national project to upgrade the country’s energy and utility sectors, as reported by Primeminister.kz. The national project was adopted in late 2024 and includes 15.1 trillion tenge (approximately $29.7 billion at the current exchange rate) in investments planned between 2025 and 2029.

«Kanat Bozumbayev discussed the implementation of the national project to modernize the energy and utility sectors with the World Bank’s board… During the talks, representatives of the World Bank expressed...

Between January and April 2025, Kazakhstan’s major oil refineries produced 2.082 million tons of gasoline, marking a 25% increase year-on-year (YoY), according to Reuters, citing data from the Situational Analytical Center of the Fuel and Energy Complex of Kazakhstan (SAC). However, gasoline output in April declined by 7% month-on-month (MoM) due to a surplus of motor fuel in the domestic market.

Notably, in the first four months of 2025, diesel fuel production rose by 19%, reaching 1.921 million tons, while jet fuel output increased by 5% to 0.255 million tons.

Despite the reduction in gasoline production in April due to...

Chevron Direct Investment Fund Ltd. (CDIF) will invest $10 million in BioOperations, a Kazakhstani company engaged in the production of bioethanol and the supply of this fuel to the European market. The investment will support the expansion of BioOperations’ manufacturing capacity and the creation of new jobs.

BioOperations is part of KazFoodProducts, a holding controlled by Yerlan Baymuratov, who ranks 68th on the list of the richest people in Kazakhstan, with a fortune of $108 million.

BioOperations is the only company in Central Asia engaged in the deep processing of wheat. Its plant, located in the small town of Tayinsha...

Terminals Astana Airport Limited, a company owned by the United Arab Emirates (UAE)-based Terminals Holding and registered with the Astana International Financial Centre (AIFC), is set to invest $1.1 billion in the development of Nursultan Nazarbayev International Airport in Astana. The company and Kazakhstan’s Ministry of Transport have already signed a long-term investment agreement, as reported by the agency.    

The agreement includes constructing a second runway, a third passenger terminal and a cargo terminal. The investor also undertakes to establish a multi-functional complex featuring an industrial and logistics zone along with a business cluster, which will include hotels, retail...

Kazakhstan is set to launch direct flights to Jordan in mid-2026. The flights will be operated twice a week by Jordan’s flag carrier airline Royal Jordanian, according to Kazakhstan’s Ministry of Transport.

Currently, flights to Jordan from Kazakhstan require a connection in Abu Dhabi or Sharjah. The Freedom Travel service offers air tickets from Almaty to Amman, Jordan’s capital, starting at approximately $265.

Plans for direct flights between the two countries were originally announced in 2012, with Air Astana and Royal Jordanian expected to operate the routes. However, neither airline currently offers direct service.

Jordan is a popular...

Digital mining farms could contribute to the development of power stations in Kazakhstan, according to Kanysh Tuleushin, first vice minister of digital development, innovation and aerospace industry of Kazakhstan. The official also believes that energy for mining farms could be produced by burning associated petroleum gas.

«Miners could help us upgrade our energy system. In the U.S., they participate in balancing the power grid, consuming extra energy when demand is low. In Kazakhstan, we have the 70/30 project, where foreign investors finance the modernization of thermal power stations, directing 70% of new capacity to the national...

According to Olzhas Abishev, a renowned expert on digital transformation, criminal liability must be introduced in Kazakhstan for those who allow personal data leaks.

A draft law about artificial intelligence (AI) has been introduced in the Mazhilis, the lower house of Kazakhstan’s parliament. Proposed amendments aim to protect the rights of AI users and their personal data and ensure the safe distribution of AI-generated content.

Abishev took part in discussions within a working group on AI regulation in the Mazhilis, where one of the key topics under consideration was the protection of personal data.

«As an...

In the first quarter of 2025, 77,300 children were born in Kazakhstan, a 16% decline year-on-year (YoY), marking the lowest figure in 11 years, according to the Data Hub Telegram channel.

Experts note that the drop in birth rates affected all 20 regions, with the steepest declines in the Akmola (-22%) and Zhetysu regions (-20.1%). Rural areas experienced a sharper decline than urban areas, with birth rates falling 18.1% compared to 14.2%, respectively.

The total fertility rate — the number of births per 1,000 people — dropped to 15.39, a 2.94-point decrease YoY. Analysts indicate that this negative trend began...

Kazakhstan’s national oil and gas company KazMunayGas (KMG), a subsidiary of Samruk-Kazyna, and Uzbekistan’s state-owned oil and gas holding Uzbekneftegaz (UNG) are exploring joint participation in international petroleum projects, according to KMG’s recent announcement. The potential collaboration was discussed in Tashkent by KMG CEO Askhat Khassenov and UNG CEO Bakhodirjon Sidikov.

«As part of the cooperation agreement signed in March between the two companies, the parties discussed plans to implement geological exploration projects in the border regions of Kazakhstan and Uzbekistan,» KMG said. «The companies also plan to establish a shared information space for exchanging geological...

The Kentucky Consular Center has announced the selectees of the DV-2025 Diversity Visa Program. This program, conducted under Section 203(c) of the U.S. Immigration and Nationality Act, provides selected individuals with the opportunity to apply for a Green Card, officially known as a permanent resident card that allows foreigners to live and work in the U.S.

Uzbekistan topped the list of winners, with 5,564 nationals selected for the Green Card. Among neighboring states, Kyrgyzstan followed with 3,095 selectees, while Kazakhstan lagged behind with only 2,004.

The program grants up to 55,000 permanent resident visas each year to citizens of countries...

KMK Munai, an oil company owned by China’s CNPC, CITIC Group and Suntime Group, reported a net profit of approximately $7.2 million in 2024, a sharp 48.9% decline year-on-year, according to statements posted on the Kazakhstan Stock Exchange (KASE) website.

Pre-tax profit fell even further, dropping 55.8% to nearly $10.5 million, compared to $24.5 million in 2023. Meanwhile, KMK Munai’s revenue slipped just 3% to $121 million, while its cost of sales jumped 18.5% to $68 million.

Despite shrinking profits, the company’s assets grew 2.3% to approximately $213 million, liabilities fell 2% to $120 million and equity rose 8.3% to...

Kazakhstani fintech giant Kaspi.kz looks forward to spending $650 million raised from Eurobond placement in late March to fund its fintech strategy in Turkey along with acquiring a Turkish subsidiary of the Netherlands-based Rabobank group, as stated in the company’s latest financial report.

According to the document, the company plans to allocate $300 million raised from the bond placement to finance its fintech strategy in Turkey this year. The remaining funds are expected to be used to acquire Rabobank Group’s Turkish subsidiary. However, no details have been revealed.

Kaspi.kz placed five-year USD-denominated Eurobonds on the London Stock Exchange’s International Securities...

The Central Bank of Russia foresees the base rate decreasing to a yearly average of 13% to 14% in 2026 and 7.5% to 8.5% in 2027. These projections were outlined in the regulator’s comment to the medium-term forecast, published on May 12, following a board meeting on the base rate held on April 25, 2025.

In late April, the Bank of Russia kept the base rate at 21%. This record-high rate, set in October 2024, hasn’t changed since then. As the regulator noted, inflationary pressure is gradually easing, although it remains significant. Domestic demand still outpaces the prospects for expanding...

According to Minister of Agriculture Aidarbek Saparov, more than 200 anthrax disposals in Kazakhstan do not meet safety requirements and must be fixed.

The government has been working on this issue since it formed a special commission in 2024. Since then, specialists from the ministry have examined several regions and brought 340 disposals into compliance with safety requirements. They plan to continue checking and reconstructing all other disposals across the country.

«We’re working on this. There is a commission that has operated since last year. They visit each region and have already fixed 340 disposals. Over...

Bishkek’s preparatory high school No. 33 has been named after the prominent Kazakh writer Kemel Tokayev (1923-1986), the father of Kazakhstan’s President Kassym-Jomart Tokayev, according to the Kaktus.media news portal.

The initiative originated with Kyrgyz President Sadyr Japarov, who personally shared his decision with Tokayev during a recent working visit to Russia.

Notably, Kemel Tokayev studied at the Frunze (now Bishkek) Military School during the Great Patriotic War (1941-1945). From there, he was sent to the front. This historic building is now home to the high school.

Earlier media reports highlighted that during Victory Day celebrations in Moscow last...

Companies from Kazakhstan and the United Arab Emirates (UAE) have entered into commercial agreements in key economic sectors, worth roughly $5 billion, as reported by Akorda, the official residence and workplace of Kazakhstan’s president.

Nine key documents, including agreements related to the construction of a sugar factory and a data processing center in Kazakhstan, were signed on the sidelines of the Kazakhstan-UAE Business Forum. Moreover, the Astana International Financial Center and Abu Dhabi Global Market inked a memorandum of understanding for international cooperation and mutual assistance in the regulation of laws protecting personal data, while Kazakhstan’s Chamber of International Commerce...

The Mazhilis, the lower house of Kazakhstan’s parliament, will consider a draft law on artificial intelligence (AI) in its first reading, according to the parliament’s press office. The proposed law aims to establish a unified legal framework for using AI technologies.

The legislation outlines measures to:

The draft AI law was introduced in the Mazhilis in early March. MP Ekaterina Smyshlyayeva, the author of...

Taobao, a Chinese online shopping platform, has announced its full-fledged entry into the Kazakhstan market, introducing a new Russian language option in its mobile app. Furthermore, the platform revealed its plan to encourage Kazakhstani users to share their unboxing experiences, offering the opportunity to earn up to 200 yuan ($27.63) in vouchers for future purchases.

By eliminating language barriers, Taobao aims to provide users in Kazakhstan and other Central Asian countries with seamless access to its wide range of products, particularly in categories such as fashion, accessories, household items, and goods for mothers and children. As part of its official...

Starting Jan. 1, 2026, Kazakhstan will change the funding structure for several major institutions, including Nazarbayev University (NU), the Astana International Financial Centre (AIFC) and the Social Health Insurance Fund (SHIF).

The new regulations were adopted following inspections by the Supreme Audit Chamber (SAC) into these entities. NU’s operations were audited in the second half of 2024.

Previously, these organizations received government funding through earmarked contributions and transfers. According to auditors, this approach reduced transparency and prevented the state’s assets from being accurately reflected in consolidated financial statements.

Additionally, the funding method did not contribute to an increase in the...

President Kassym-Jomart Tokayev has signed a law ratifying the intergovernmental agreement between Kazakhstan and the United Arab Emirates (UAE) on the construction of a one-gigawatt wind farm. Earlier this year, the administration of the Zhambyl region announced that Masdar, a state-owned renewable energy company in the UAE, was set to implement this project in the region.

«The head of state has signed a law of the Republic of Kazakhstan ratifying the agreement between the governments of the Republic of Kazakhstan and the United Arab Emirates to implement the wind farm project,» the president’s press service reported.

Kazakhstan’s membership in the Eurasian Economic Union (EEU) has been positively impacting the modernization of its national economy, according to the country’s Ministry of Trade and Integration. The agency outlined the benefits Kazakhstan gains from its participation in the union.

Currently, the EEU member states include Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. Customs declarations have been abolished between all these countries, enabling the unimpeded movement of goods and reducing business time and costs. The Ministry of Trade and Integration noted that this interaction, in turn, provides Kazakhstan’s population with access to a wider range of higher-quality goods.

Within the EEU...

The East Kazakhstan region is set to build a new cross-border road for tourists from China. The road will span from Kanas Lake in China to Lake Markakol in the Katon-Karagay district of Kazakhstan, as reported by the Ministry of Tourism and Sports of Kazakhstan, citing the administration of the East Kazakhstan region.

Interested state agencies are already discussing the project. For example, the Kazakh Foreign Ministry and the Ministry of Finance have begun negotiations with their Chinese counterparts to promote the opening of an international border crossing near Markakol village.

«When all necessary arrangements are...