Between January and May 2025, Kazakhstan’s Tengiz field produced 15.9 million tons of crude oil, according to KazMunayGas (KMG), the national oil and gas company. Output at the country’s largest oil and gas field is now projected to reach 35.7 million tons by the end of the year, an upward…
According to Kazakhstan’s Minister of National Economy Serik Zhumangarin, the Astana International Financial Centre (AIFC) has become a tool that foreign companies use to evade taxes, turning it into something like an offshore zone within the country. The official made this claim during a discussion of the new Tax Code…
A plant for recycling plastic waste and producing PET (polyethylene terephthalate) preforms is set to be built in Almaty. The announcement came from Darkhan Satybaldy, the city’s mayor, following a recent meeting with Murat Kökoğlu, CEO of Turkish firm Köksan Holding. The facility will be constructed on a 15-hectare site…
KazMunayGas (KMG), the national oil company of Kazakhstan, has become the largest company in Kazakhstan by market capitalization, surpassing fintech giant Kaspi.kz, which has moved to second place, according to the Qazaq Association of Minority Shareholders (QAMS), which first noted this shift. Since the beginning of the year, KMG’s market…
Kazakhstan’s Ministry of Energy announced that plans to build a gas processing plant (GPP) at the Karachaganak field have been shelved after talks with foreign investors collapsed over financial terms. The government declined conditions proposed by the consortium, led by Eni and Shell, which included a demand for an additional…
According to Timur Turlov, the founder and majority shareholder of Freedom Holding Corp., the Freedom SuperApp will offer users the option to buy and sell crypto assets by the end of this year. He made this statement during a broadcast on the Freedom Broker Kazakhstan YouTube channel, presenting the company’s…
China Road and Bridge Corporation has been modernizing Kyrgyzstan’s largest airport, Manas International Airport in Bishkek, since April. It will also upgrade the country’s second-largest airport in Osh and plans to build a completely new airport in Jalal-Abad within two years. The most interesting part is that this is being…
BCC Invest, a Kazakhstani brokerage company, has raised its valuation of KazMunayGas (KMG) shares following the company’s Q1 2025 financial results. Analysts set a new target price at approximately $35 per share. BCC Invest’s projection increased by more than 9%, compared to its previous forecast from April 2025. As a…
Kazakhstani startup Metaclinic, which provides online medical consultations, has closed a $150,000 funding round at a $2 million valuation, Digitalbusiness.kz reported. The investment came from a multi-specialty clinic chain. The Metaclinic team plans to allocate the raised funds toward further developing and scaling the service through B2B partnerships. While the…
The recently concluded U.S.-China trade talks, which resumed on June 9 in London, focused on easing tensions over rare earth elements and advanced technology. These developments could place Kazakhstan and Ukraine at the forefront of the search for alternative sources of critical minerals. President Donald Trump has authorized his trade…
Freedom Broker has officially launched operations in Kyrgyzstan, marking its entry with a grand opening ceremony in Bishkek. The event was attended by Minister of Economy and Commerce Bakyt Sydykov, Freedom Holding Corp. CEO Timur Turlov and representatives of Kyrgyz public agencies, development funds, banks, major local companies and investors.…
Kashagan, Kazakhstan’s largest oil and gas field on the Caspian shelf, is scheduled for an equipment upgrade in 2026, according to the North Caspian Operating Company N.V. (NCOC), the field’s operator. Holding production steady The planned upgrade will enable additional lines to be connected to the existing process pipeline system…
Several governments and central banks worldwide have recently voiced alarm regarding the risks of buying or investing in cryptocurrencies. Fabio Panetta, a policymaker at the European Central Bank and governor of the Bank of Italy, expressed concern about the reputational risks banks could face by offering services related to crypto-assets,…
Chevron, Eni, Shell and other global oil majors are being pushed to increase their reliance on local suppliers as Kazakhstan moves to strengthen domestic economic participation in its multibillion-dollar energy projects. Kazakhstan’s Prime Minister Olzhas Bektenov has called on operators of the country’s three largest oil and gas fields —…
Chinese-linked companies have emerged as major winners in Kazakhstan’s latest online auction of hydrocarbon blocks, securing rights to half of the available sites, according to the country’s Ministry of Energy. Four blocks for hydrocarbon exploration and production were awarded in the subsoil use rights auction. The winning companies are as…
Kazakhstani banks earned approximately $1.7 billion in net profit during the first four months of 2025, according to data released by the National Bank. April alone accounted for nearly $470 million, a record monthly figure so far this year. Top 5 banks by net profit (January-April 2025): Halyk Bank –…
Foreign shareholders of Karachaganak Petroleum Operating B.V. (KPO) are reportedly unwilling to invest in the construction of a gas processing plant (GPP) with an annual capacity of 4 billion cubic meters at the Karachaganak field in the West Kazakhstan region. The news was reported via the Energy Monitor Telegram channel,…
First Heartland Jusan Bank, operating under the Jusan Bank brand, has announced its rebranding, changing its name to Alatau City Bank. The decision was made during the annual general shareholders’ meeting held on May 15. The bank highlighted that the new name reflects its strategy and ambitions. The name will…
David Brown, a British citizen, has rejoined the board of directors of Bereke Bank, which he left at the beginning of the year, according to a statement from the Kazakhstan Stock Exchange (KASE) available on its website. The governing body of the credit institution, which was sold to the Qatari…
According to the latest report from Kazakhstan’s National Bank, the deposit volume increased by 2% in April, reaching 41.3 trillion tenge (approximately $81 billion) in the country. The upward trend was observed in deposits denominated in both national and foreign currencies. Despite the base rate remaining unchanged in April at…
Kazakhstan is expected to emerge as the regional leader in Islamic finance, according to a recent report by the Eurasian Development Bank (EDB). The report, developed in collaboration with the Islamic Development Bank, forecasts that Kazakhstan’s Islamic banking sector will grow to $3.3 billion by 2033. EDB’s analysts are optimistic…
Prices for Kazakhstani oil, which is being exported in growing volumes to the global market, may decline, according to Dex Wang, director of strategy development at S&P Global Commodity Insights, a leading provider of energy and commodities market intelligence. During the annual S&P Global Commodity Insights Astana Market Briefing on…
Kazatomprom, Kazakhstan’s national nuclear company, has not reported corporate events to the Kazakhstan Stock Exchange (KASE) since October 2024 and no longer provides information on its ownership structure, according to the company’s response to a recent inquiry from Kursiv.media. The company said the change aligns with KASE’s internal rules for…
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…
