News

Azerbaijan and Kazakhstan have started deploying the first-ever fiber-optic cable between the countries, Kazakhtelecom CEO Bagdat Mussin announced on his Telegram channel.

The cable will run along the seabed of the Caspian Sea, from the Kazakh city of Aktau to the Azerbaijani city of Sumgayit. The project is expected to be completed by the end of 2026. The cable’s capacity is designed for many years to come and expected to be no less than 400 terabits per second.

«Today marks the start of the most interesting part of the project. A special vessel has...

Kazakhstan is turning to cutting-edge technology to tackle inflation, deploying a powerful supercomputer to analyze price data and monitor commodity flows across the country in real time.

Ablaikhan Ospanov, acting chairman of Kazakhtelecom, the national telecommunications operator, announced at a recent government meeting that the company’s supercomputer will be used to regulate trade and track the movement of goods. The system will be fed data from the Bureau of National Statistics, the Ministry of Finance, and the Ministry of Trade and Integration.

«We will be able to load the necessary data into the supercomputer...

KMG PetroChem, a subsidiary of Kazakhstan’s national oil and gas company KazMunayGas (KMG), has signed an engineering, procurement and construction (EPC) contract with Tecnimont S.p.A. of Italy and Consolidated Contractors International Company (CCIC) of Lebanon for the construction of a gas separation facility (GSF) at the Tengiz field, KMG announced.

According to the release, the EPC contract covers the design, procurement and turnkey construction of a gas separation complex with a processing capacity of up to 9.1 billion cubic meters of dry gas per year.

The GSF will supply raw materials for the future Sillenno LLP plant, which...

Car prices in China have dropped so low that President Xi Jinping is reportedly personally concerned, according to CarScoops. He has urged automakers to end the ongoing price wars, which he says are harming the country’s economy. If manufacturers fail to comply, the government may step in to regulate the situation.

Kursiv Auto spoke with industry experts to explore how this situation could impact Kazakhstan.

In mid-July, Xi emphasized in a speech the need to combat deflation, which has affected several key sectors, including the auto industry.

To attract consumers, Chinese automakers have increasingly turned to aggressive price cuts...

Kyrgyzstan’s Chüy Region, near the city of Tokmok, is set to host the country’s first theme park of international standard. The project is being implemented in partnership with U.S.-based IdeAttack Inc., renowned for developing iconic parks in the U.S., the United Arab Emirates, China and South Korea. This will be the company’s first project in Central Asia.

According to Kabar.kg, the Kyrgyz Tourism Development Support Fund and the Chüy District Administration have signed a cooperation agreement. A 50-hectare land plot that meets all international standards has already been allocated for construction. Negotiations and preparations for the project’s implementation have...

KMF, Kazakhstan’s largest microfinance organization (MFO), has reregistered as a bank and changed its name to KMF Bank, according to a statement published on the Kazakhstan Stock Exchange (KASE) website.

The company received a re-registration certificate on Aug. 1, 2025. From July 30 to Aug. 3, the MFO suspended all operations in preparation for its reorganization into a bank, for which it obtained permission in March 2025 from Kazakhstan’s Agency for Regulation and Development of Financial Markets (ARDFM).

However, KMF has not yet received a banking license from ARDFM.

«KMF is currently in the process...

The cost per kilowatt-hour (kWh) of electricity that Kazakhstan purchased from Russia between January and May was 7.64 cents, according to customs data.

During the period, Kazakhstan imported 1.03 billion kWh of electricity from Russia worth $78.8 million (7.64 cents per kWh). Kazakhstan exported nearly the same volume — 1 billion kWh — to Russia but earned only $19 million (1.89 cents per kWh).

The large price imbalance may be due to Kazakhstan’s traditional deficit of electricity during evening peak hours, when prices are highest, while surplus electricity is exported during low-price periods.

In addition, between January and May, Kazakhstan...

Kazakh investors can now buy shares in major American companies such as Amazon and Google for as little as $1, thanks to a new feature rolled out in the Tabys app by the Astana International Exchange (AIX), according to the Kazakhstan Association of Minority Shareholders (QAMS).

The Tabys app, in its Pro mode, has launched fractional trading of U.S. stocks listed on the NASDAQ and New York Stock Exchange (NYSE). This means users can purchase a portion of a share based on the amount they invest. For example, if a stock is priced at $200, an investor can...

ForteBank has postponed its extraordinary general meeting of shareholders from Aug. 14 to Oct. 29. The key issue to discuss will be the bank’s reorganization in the form of Home Credit Bank’s (HCB) accession to ForteBank.

The meeting’s agenda remains unchanged. Shareholders are to approve amendments to the methodology for determining the value of shares and global depositary receipts (GDRs) when acquired by ForteBank and make a decision on the absorption of HCB.

The list of shareholders entitled to participate in the meeting will be compiled on Oct. 3. If a quorum is not present, another meeting will take place...

Central banks around the world purchased 22 tons of gold in June, according to the latest data from the World Gold Council (WGC). The majority of those purchases, more than 70%, were made by Uzbekistan and Kazakhstan.

Uzbekistan added 9 tons to its gold reserves, marking a sharp shift after four consecutive months of net sales. The National Bank of Kazakhstan also made a significant addition, increasing its holdings by 7 tons.

Other central banks made more modest acquisitions: China, the Czech Republic and Turkey each purchased 2 tons, while Qatar, Ghana, the Philippines and Kyrgyzstan each bought...

A farewell ceremony was held Aug. 6 in Almaty for Kazakh cosmonaut and national hero Talgat Musabayev, who died Aug. 4 at age 74.

State officials, colleagues, family and friends gathered at the House of Officers to pay their final respects. A guard of honor stood at the entrance during the ceremony.

On behalf of President Kassym-Jomart Tokayev, State Counselor Yerlan Karin delivered condolences to Musabayev’s family and friends. In his remarks, he highlighted Musabayev’s contributions to Kazakhstan’s space program and scientific development.

«Talgat Amangeldievich is one of the brightest personalities in the...

In today’s business culture, outcomes such as financial success or market dominance often overshadow how they are achieved, even when those means involve aggressive tactics or ethical compromises.

A contrasting perspective, however, emphasizes the integrity of intentions behind actions. As the great 19th-century Kazakh poet and philosopher Abai wrote in his Book of Words, «Judge a man’s qualities by the intentions of his action and not by its outcome.»

As Kazakhstan marks the 180th anniversary of Abai’s birth this year, his philosophy remains strikingly relevant — even in fields where one might not expect it, such as entrepreneurial...

A test launch of satellite internet service by China’s Shanghai SpaceSail has been carried out in the Almaty region.

«The tests were conducted with the participation of the company’s specialists, who arrived in Kazakhstan to showcase the technology. A connection speed of up to 200 megabits per second was recorded during the tests, confirming the technology’s high potential,» Kazakhstan’s Ministry of Digital Development, Innovations and Aerospace Industry reported.

The ministry noted that the Shanghai SpaceSail system is based on low-orbit satellite communications. Such satellites provide stable, high-speed connectivity even in remote areas where deploying fiber-optic...

The ceremony for the commencement of construction of the first nuclear power plant (NPP), led by Russia’s Rosatom, is scheduled for Aug. 8 near the village of Ulken in the Zhambyl district of the Almaty region, according to the company Kazakhstan Nuclear Power Plants (KNPP).

«On Aug. 8, 2025, near the village of Ulken in the Zhambyl district of the Almaty region, an official ceremony will be held to mark the launch of the nuclear power plant construction project in Kazakhstan,» according to a media advisory.

The ceremony will include official speeches and the start...

On Aug. 4, KazMunayGas (KMG, a subsidiary of Samruk-Kazyna) exported its first batch of oil to Hungary via Croatia, according to the company’s press release. The shipment, totaling 85,000 tons of Kazakh oil, was part of a strategic expansion of cooperation between KMG and Hungary’s MOL Group.

Kazakh oil is transported via the Caspian Pipeline Consortium (CPC) to the Port of Novorossiysk in Russia. From there, maritime delivery to Croatia’s Port of Omišalj was handled by national carrier Kazmortransflot — a KMG subsidiary — aboard its tanker Alatau. The oil is scheduled to continue via the Adria oil pipeline...

An administrative court in Astana has overturned a $4.2 billion environmental fine imposed on the North Caspian Operating Company (NCOC), the operator of the Kashagan oil field, citing procedural violations by the regional environmental authority.

The court emphasized that its decision to nullify the order issued by the Atyrau Regional Department of Ecology (ARDE) does not mean environmental violations did not occur. Instead, the court found that the order was issued in violation of Kazakhstan’s Administrative Procedure and Process-Related Code.

«The cancellation of the order due to non-compliance with proper procedure does not imply...

Kazakh schoolchildren are competing in the World Chess Championship, currently underway in the U.S.

The tournament runs from Aug. 3 to 6 on the campus of Episcopal High School in Alexandria, Virginia. This year’s World Schools Team Championship features 286 young players across 55 teams representing 48 countries. Among them are six teams of Kazakhstani students from the Republican School of Physics and Mathematics, the SEED Educational Complex in Astana, Zholdasbekov IT Lyceum No. 9 in Shymkent and Konayev Gymnasium School in Aktobe.

The opening ceremony was attended by FIDE President Arkady Dvorkovich, International School Chess Federation (ISCF) President...

Murat Alikhanov, co-founder of the fitness startup 1Fit — which offers services through a single-membership model across various fitness centers — has stepped down as the company’s CEO, he announced on Instagram.

«After seven years, I’m leaving my role as CEO of 1Fit. I remain a shareholder,» Alikhanov wrote in his Instagram Stories.

The businessman stated that he would take a break to rest and recover before embarking on major new projects.

In recent years, 1Fit has faced multiple setbacks in international markets. In late April, the startup announced it was shutting down...

A corporate conflict is intensifying in Kazakhstan over control of the Eurasian Financial Company (EFCO), which owns Eurasian Bank and Eurasia Insurance Company. Mounissa Chodieva, daughter of Eurasian Resources Group (ERG) co-owner and EFCO shareholder Patokh Chodiev, has joined a growing legal battle involving top figures connected to the firm.

In late July, EFCO filed a counterclaim against two members of its board of directors — Shukhrat Ibragimov, son of the late tycoon Alijan Ibragimov and CEO of ERG, and Andrei Kopov — according to case files published on the Supreme Court’s Office.sud.kz portal.

Banana gross yield in Kazakhstan’s greenhouses from April to June amounted to 70 tons on 52,500 square meters, the Bureau of National Statistics reported. The entire harvest came from the Turkestan region.

The country also reported harvesting 208 tons of strawberries on 87,000 square meters: 158 tons in the Almaty region and 50 tons in the Turkestan region.

From April to June 2025, the gross yield of tomatoes grown under cover in Kazakhstan totaled 50,400 tons. Most of the tomatoes were harvested in greenhouses of the Turkestan region — 36,800 tons. Over the three-month period, 5,700 tons were harvested...

Eight OPEC+ countries — Saudi Arabia, Russia, Iraq, the United Arab Emirates (UAE), Kuwait, Kazakhstan, Algeria and Oman — have agreed on a quota increase of 547,000 barrels per day (bpd) for September, according to a statement on the organization’s website following the Aug. 3 meeting. In particular, Kazakhstan’s quota will rise to 1.55 million bpd in September, up from 1.532 million bpd in August and 1.514 million bpd in July.

Quotas for other members will be as follows:

Leading Turkish e-commerce platform D-MARKET Electronic Services & Trading (Hepsiburada) has reported a net loss of 1.1 billion Turkish lira (approximately $27 million) over the first six months, up 1.5 times from the same period in 2024 ($17.5 million), according to its financial results.

At the same time, Hepsiburada’s revenue increased by 5.9% year-on-year (YoY), reaching 32 billion Turkish lira ($787 million) compared to 30.2 billion Turkish lira ($742.5 million) in the first six months of 2024.

The number of orders rose by 0.1% to 37.1 million. However, the average order value remained unchanged, with the number of active...

Jennifer Lopez’s first-ever concert in Kazakhstan has ignited a heated debate — not about her performance, but her wardrobe.

Astana city maslikhat (local council) member Saule Samidin criticized the pop star’s revealing stage outfits, suggesting they were not culturally appropriate for a Kazakh audience. The concert, held Aug. 1 at Astana Arena, featured Lopez performing her iconic hits in a high-energy show packed with dancing and special effects.

Samidin commented on social media that her 16-year-old daughter had compared Lopez’s wardrobe choices in Astana to her concerts in the United Arab Emirates, where the singer had opted for more...

Oil majors developing the Kashagan field — Kazakhstan’s largest oil and gas field on the Caspian shelf — have won a $4.2 billion environmental dispute in an Astana appeals court, according to Bloomberg.

Sulfur dispute

The case stemmed from a 2022 fine imposed by Kazakh authorities over excessive sulfur storage at the field. Kashagan’s high-sulfur crude requires safe processing and removal, and Kazakh regulators claimed that open-air sulfur storage violated environmental laws. The penalty against the North Caspian Operating Company (NCOC), the consortium operating the field, was initially 2.3 trillion tenge — about $5.1 billion at 2022 exchange...