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Home Credit Bank (HCB) will retain its credit profile after 100% of its shares are sold to ForteBank, according to Fitch Ratings. Moreover, the rating agency believes the government is unlikely to object if ForteBank provides support to HCB.

According to HCB’s 2024 financial statements, cash loans account for 80% of the bank’s loan portfolio, which also includes consumer loans (13.1%). At the same time, there is no indication that the bank offers mortgages, car loans or business loans.

Fitch expects the sale of HCB will not affect its banking operations. The agency notes that the bank will continue to...

The City Cardiology Center in Almaty has successfully performed a cardioneuroablation — a unique, minimally invasive procedure that allows for heart rhythm restoration without the need to implant a pacemaker, according to Kazakhstan’s Ministry of Health.

A 22-year-old man came to the center with complaints of dizziness and episodes of syncope. Examination revealed that he suffered from an aberrant rhythm unrelated to any organic heart disease.  

Artur Abdymomunov, head of the arrhythmology department, performed the procedure. He explained that previously, patients with such symptoms typically required pacemaker implantation — a solution that significantly restricted their lifestyles, which is particularly...

The Ministry of Employment and Poverty Reduction of Uzbekistan has dismissed the head of Kattakurgan city’s Department of Employment and Poverty Reduction after he was caught off guard — hugging a female colleague on his lap during a Zoom meeting. The video quickly went viral online.

The ministry responded swiftly, firing both officials involved.

Online commenters didn’t miss the chance to share their irony on the situation:

«He provided her with employment and cut poverty.»

«And they’re always ‘in a meeting’ when you try to call or visit.»

«Now we all know what their meetings look...

Kipros, a company controlled by Kazakhstani millionaire Timur Kulibayev, is set to invest around $427 million jointly with Vietnam’s Crystal Bay to modernize the Ak-Bulak ski resort in the Almaty region, as reported by the regional governor’s office. 

The investment will be allocated for building a golf club and expanding the hotel complex, with around 700 new jobs expected to be created. A topographical survey has already been completed, and development of the master plan is currently underway.

The governor’s office also announced plans to expand the Oi-Qaragai mountain resort, increasing its size nearly tenfold — from...

Korean culture, especially its distinctive cuisine, is gaining global popularity. But in Kazakhstan, what’s commonly labeled as «Korean food» often bears little resemblance to traditional South Korean fare. That’s because the cuisine has adapted over generations to local tastes and conditions. Kursiv LifeStyle took a closer look at the unique culinary identity of Koreans in Kazakhstan.

A culinary evolution rooted in history

Ilya Kim, director of the RIS restaurant chain, explained how the food of ethnic Koreans in Kazakhstan reflects their unique post-Soviet identity. Unlike North or South Koreans, local Koreans — descendants of those forcibly...

Click, a payment service in Uzbekistan that is set to become part of Kazakhstan’s Halyk Bank once the bank acquires a 49% stake, plans to establish a next-generation bank, according to Click CEO Ulugbek Rustamov.

«We are entering retail banking. Together with Tenge Bank, we are starting to build a next-generation bank. For us, this is a new market, new processes and new challenges. But it’s also a new opportunity,» Rustamov wrote on LinkedIn.

Earlier this year, the two parties agreed that Halyk Bank would acquire 49% of Click shares for $176.4 million. In...

Over the first six months of 2025, Russia boosted its vodka exports by almost 40% in monetary terms, as reported by the Agroexport Telegram channel (Russia’s Federal Center for Agricultural Export Development under the Ministry of Agriculture), citing external trade data.

From January to June, Russia exported 16,000 tons of vodka worth $25 million, marking a 21% year-on-year increase in volume and 39% in value. During the same period in 2024, exports totaled 13,000 tons and $18 million.

Kazakhstan emerged as the largest importer of Russian vodka in monetary terms. Other top buyers included Georgia, Azerbaijan, China and Israel.

Moreover...

Kazakhstan’s Ministry of Internal Affairs has proposed limiting alcohol sales to specialized shops with restricted working hours. The initiative was presented by Interior Minister Yerzhan Sadenov during a session of the Interdepartmental Commission for the Prevention of Offences in Kazakhstan.

The agency believes that addressing the issue of alcohol abuse requires a comprehensive approach. For example, some entrepreneurs whose licenses have been revoked continue to sell alcohol illegally through straw parties or by operating under the guise of all-night bars.

According to the ministry, police identified and stopped 7,000 violations related to liquor turnover. Business entities were fined a total...

A four-day workweek benefits both businesses and employees, according to a study published on July 21 in the Nature Human Behavior journal. Yet even with no legal obstacles, employers in Kazakhstan remain hesitant to embrace the trend.

Boosting work efficiency

In recent years, over 140 companies across five countries — Australia, Canada, Ireland, the U.K. and the U.S. — participated in a trial replacing the traditional five-day workweek with a four-day schedule. For six months, employees worked 32 hours a week instead of the standard 40. Most enjoyed a third day off, though some companies redistributed hours differently. Firms...

Scientists from the Al-Farabi Kazakh National University (KazNU) presented an innovative mobile unit, Dayar 20, which allows for processing and storing agricultural products for several decades.

According to Yerbol Ikhsanov, PhD, senior lecturer of the Department of Chemistry and Technology of Organic Substances, Natural Compounds and Polymers, and the author of the project, Dayar 20 operates on the principle of lyophilization, or freeze-drying.

This is a method in which water evaporates from a product in a frozen state under low pressure. It preserves the taste, shape, smell, color and useful properties of the products.

«This device...

Safi Holding, a major multi-sector conglomerate in Turkey, is exploring the construction of a sugar refinery in Kazakhstan, with plans to invest up to $200 million.

The plans were discussed during a meeting between Kazakhstan’s Minister of Agriculture Aidarbek Saparov and the holding’s CEO Atakan Safi. The company intends to invest in a high-tech facility with an annual production capacity of 140,000 tons of sugar. To achieve this goal, up to 1 million tons of sugar beet would need to be processed per season.

Therefore, the key factors in selecting the plant’s location include the availability of sufficient cultivation...

The Caspian Sea, the world’s largest inland body of water, has reached its lowest level in recorded history, dropping below minus 29 meters based on the Baltic height system (BHS-77). The sharp decline has particularly impacted the shallow northern part of the sea, which borders Kazakhstan and Russia, according to a report by the TASS news agency, citing the Volga-Caspian branch of the Caspian Fisheries Research Institute (CaspNIRKh).

The primary cause is a reduced inflow from the Volga River, which supplies about 80% of the freshwater entering the Caspian Sea. Since 2020, sea levels have dropped nearly...

Kazakhstan may increase coal exports to Europe, and Russia will earn money from transit, according to Kommersant.ru, citing Maria Nikitina, founder of N.trans Lab, a project dedicated to transport, logistics and supply chain management.

Hot weather in Europe and increased demand for electricity have driven up prices for thermal coal on the local market. The duration of this trend depends on the dynamics of gas prices and the volume of solid fuel reserves in ports.

According to a review by NEFT Research, as of July 11, prices for standard 6,000 kcal/kg NAR quality thermal coal increased by 4% in one...

Assault and threats against health professionals in Kazakhstan may soon carry prison sentences of up to 15 years. The Ministry of Healthcare has initiated a new article to the Criminal Code, according to Health Minister Akmaral Alnazarova.

As she noted, it is planned to introduce Article 158-1 to the code, which will establish various levels of punishment depending on the nature and circumstances of the offense:

Kazakhstan’s Bank CenterCredit (BCC) has become the first bank in the country to enable card-to-card transfers through UnionPay International. The new service, now available through BCC’s mobile app, allows users to send money from Kazakhstan to China and other countries using UnionPay cards, the bank announced in a press release.

Seamless cross-border transfers

UnionPay International is one of the world’s largest payment systems and a dominant player in transfers to China, largely through its Money Express service.

«Our partnership with UnionPay began with the launch of our multi-currency #DragonCard and #GoldCard, which have been...

Although many Kazakhstanis want the option to watch movies in English and with subtitles, the cinema chain Kinopark says the actual demand is very low — only about 1,000 people.

Some viewers in Kazakhstan are dissatisfied with the dubbing of foreign films and prefer to watch original versions. Reasons vary: some want to hear the authentic voices of Hollywood actors, while others use films to practice English.

«Kinopark, bring back movies in English with subtitles like before. Many people prefer the original language for better understanding and perception. I’m from Astana, and we don’t have original-language...

The first international full-cycle laboratory for rock analysis and mineral reserve assessment will be opened in Almaty. The laboratory is being established within the Institute of Geological Sciences named after K.I. Satpayev with support from Chinese investors.

According to Kazakh Invest, the GeoLab Eurasia geological laboratory will include two facilities: a laboratory and educational center at the Institute of Geology — scheduled to open in October 2025 — and an industrial hub with a sample preparation line and storage facility, which will be built outside Almaty in the first quarter of 2026.

The center is expected to conduct high-precision studies...

The Supreme Court of Russia has designated the so-called «International Satanist Movement» an extremist organization and banned its operations across the country, according to an official statement of Russia’s Prosecutor General’s Office. However, media reports note that no legally registered organization under that name exists in Russia.

«The movement is based on an extremist ideology, hatred and enmity toward traditional religious beliefs. Its members publicly call for extremism, destruction and desecration of orthodox temples, chapels, memorial crosses, etc.,» stated Igor Krasnov, prosecutor general, who filed a lawsuit.

The investigation found that the movement’s...

Every morning, Almaty wakes to the dull hum of traffic jams. The air — thick, dusty and heavy — seems to warn: too many cars, too little city.

In recent years, Kazakhstan’s largest metropolis has increasingly resembled Los Angeles, a city where not having a car can feel like being cut off from society. But can Almaty choose a different path, a more European one, where urban life is measured not by traffic jams, but by livability?

Kursiv LifeStyle spoke with three experts who view transportation not just as a means of getting from point A to point B, but...

The Association of Financiers of Kazakhstan (AFK), in its latest daily review of stock exchange events, advocated for Kazakhstan’s National Bank to conduct currency interventions aimed at stabilizing the tenge exchange rate.

The AFK highlighted that during the trading session on the Kazakhstan Stock Exchange on July 23, the USD/KZT exchange rate rose drastically, reaching a record high of 538.64 tenge per U.S. dollar (+6.21 tenge). At the same time, the trading volume was unusually high, totaling $270.9 million.  

Meanwhile, such currency weakening lacks fundamental economic reasons, indicating speculative activity in the foreign exchange market. The growing pressure...

According to the Committee for Combating Drug Crime under the Ministry of Internal Affairs of Kazakhstan, 24,000 account cards with a total value of $4.4 million have been blocked in the country due to suspicious transactions.

The committee said that transactions involving large cash withdrawals, frequent small transfers without clear economic purpose and activities potentially linked to illegal drug circulation were flagged as suspicious. Such cases are identified through the analysis of financial flows – both via alerts from banks and in cooperation with other government agencies.

The Internal Ministry reported that roughly 4,000 drug offenses were identified in Kazakhstan...

The Astana Financial Services Authority (AFSA), the independent regulator of the Astana International Financial Centre (AIFC), has prepared consultation papers featuring amendments aimed at enhancing the center’s effectiveness and aligning it with international standards. The regulator is inviting market participants to provide feedback on the proposals. Furthermore, the membership admission criteria are proposed to be expanded, along with measures to facilitate securities issuance.

The amendments proposed by AFSA are divided into three areas: capital markets, digital assets and crowdfunding. In the capital markets section, the amendments aim to streamline companies’ information disclosure, apply corporate governance requirements only to issuers...

Shares of KazMunayGas (KMG), Kazakhstan’s national oil company, have surged more than 25% over the past two months, despite a lack of clear catalysts, according to data from the Kazakhstan Stock Exchange (KASE).

Steady growth

Since May 22, 2025, KMG stock has climbed steadily, reaching 18,699 tenge (nearly $35) per share on July 22. During that day’s trading session alone, the price rose by 2.69% or $0.91 per share.

Analysts remain puzzled by the continued rally. In its daily market review, Freedom Broker noted that KMG shares hit their target valuation of approximately $33, marking a 22% gain...

Kazakhstan will establish a national cargo air carrier, according to a statement from the cabinet’s press service.

The decision comes amid steady growth in the global air cargo market, which is currently valued at 57.7 million tons. As the ninth-largest country in the world, Kazakhstan accounts for 15% of transit air cargo traffic passing through its airspace.

According to Nurlan Zhakupov, CEO of the state-owned holding Samruk-Kazyna, the initial plan is to lease three aircraft, with the fleet eventually expanding to 10, following common international practices.

«The launch of the first flight operated by the national...