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Economy

September 2, 2025

Kraft Heinz to break up into two companies by 2026

Tanat Kozhmanov

Tanat Kozhmanov

t.kozhmanov@kursiv.media

Kraft Heinz announced Tuesday that it will split into two publicly traded companies in 2026, marking the end of its troubled decade-long merger, according to CNN. One new company will house faster-growing brands like Heinz ketchup, Kraft Mac & Cheese, and Philadelphia cream cheese. The other will focus on slower-performing…

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August 27, 2025

Underground gold mining launches at Central Asia’s largest mine

Svyatoslav Antonov

Svyatoslav Antonov

Business News Correspondent s.antonov@kursiv.media

Kyrgyz President Sadyr Japarov announced the launch of an underground gold mining project at Kumtor, Central Asia’s largest gold mine, as reported by Interfax Kazakhstan. «The underground gold mining project is set to operate for 17 years, with geological reserves of 147 tons of gold officially added to the national…

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August 26, 2025

Despite expanding nuclear energy, China still leans on coal for electricity

Nikolai Marchenko

Nikolai Marchenko

n.marchenko@kursiv.media

A recent environmental report shows China added more coal power plant capacity in the first half of 2025 than in any year since 2016, despite having significant renewable resources, according to DW.com, citing the Center for Research on Energy and Clean Air (CREA) and Global Energy Monitor (GEM). The findings…

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August 22, 2025

Freedom Broker presents investment ideas for fall 2025

Farid Veliyev

Farid Veliyev

Business News Correspondent

Fall traditionally revives financial markets: the companies publish financial reports, investors revise their portfolios and stock prices gain fresh momentum. Analysts at Freedom Broker have highlighted key investment ideas for Kazakhstan and global markets.    Kazakhstan’s market One of the fall’s wild cards is the Kazakhstan Electricity Grid Operating Company…

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August 21, 2025

Weak tenge boosts KazMunayGas revenue

Farid Veliyev

Farid Veliyev

Business News Correspondent

KazMunayGas (KMG), Kazakhstan’s national oil company, reported revenue of 4.5 trillion tenge for the first six months of 2025 (about $8.8 billion at the period’s average exchange rate), up 6.2% year-on-year (YoY). Growth was driven by higher processing volumes at KMG International refineries and the weakening of the tenge, which…

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August 19, 2025

Kazakhstanis demonstrate optimism toward banking system while building savings

Zhanel Zhazetova

Zhanel Zhazetova

Senior Business News Correspondent z.zhazetova@kursiv.media

About 50% of regular deposits are under $27,000, according to the Kazakhstan Deposit Insurance Fund (KDIF). According to the fund’s methodology, there are three types of retail deposits denominated in tenge: mass (up to 15 million tenge), medium (from 15 million to 50 million tenge) and large (over 50 million…

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August 18, 2025

Kazakhstan’s processing industry demonstrates steady growth

Aisha Kutubayeva

Aisha Kutubayeva

General News Correspondent

Kazakhstan’s processing industry has shown steady growth, with output reaching approximately $29.6 billion in the first seven months of 2025. According to the Ministry of Industry and Construction, the processing industry grew by 6.1%, with its share in the country’s economy reaching 13.9% over the period from January to July…

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August 15, 2025

Kazzinc cuts zinc, boosts silver production

Zhanbolat Mamyshev

Zhanbolat Mamyshev

Senior Business News Correspondent zh.mamyshev@kursiv.kz
 kazzinc.com, бильд-редактор: Дина Карамчакова

Kazakhstan’s largest gold producer, Kazzinc, 70.2% of which is owned by Switzerland-based Glencore, reduced zinc production from its own sources to 61,800 tons in the first six months of 2025, down 3% year-on-year (YoY), according to Glencore’s report. Meanwhile, zinc in concentrate production rose by 13% to 37,200 tons, while…

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August 15, 2025

Newly licensed South Korean bank quickly violates requirements

Farid Veliyev

Farid Veliyev

Business News Correspondent

BNK Commercial Bank — formerly the microfinance organization BNK Finance Kazakhstan and recently transformed into a bank — has received a written directive from Kazakhstan’s Agency for Regulation and Development of the Financial Market (ARDFM) for violating prudential ratios, the agency reported. The former MFO received its banking license on…

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August 15, 2025

Kazakhstan accuses Eurasian Union trade partners of erecting barriers

Farid Veliyev

Farid Veliyev

Business News Correspondent

Kazakh companies face double taxation and full veterinary, sanitary and customs checks when exporting goods to other Eurasian Economic Union (EEU) members, Prime Minister Olzhas Bektenov said at the Eurasian Intergovernmental Council meeting in Cholpon-Ata, Kyrgyzstan. «In a number of cases, unimpeded transit through the territory of EEU member states…

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August 15, 2025

Lotte’s Kazakh factory profit falls 53.4%

Svyatoslav Antonov

Svyatoslav Antonov

Business News Correspondent s.antonov@kursiv.media

In the first six months of 2025, Lotte Rakhat Confectionery reported a profit of about $3.9 million, down 53.4%, or $4.4 million, from the same period last year, according to the company’s filing on the Kazakhstan Stock Exchange (KASE) website. The drop was largely due to a 23.4% fall in…

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August 14, 2025

Mrs. Kazakhstan Globe finalist launches Kazakhstan’s first Bitcoin ETF

Farid Veliyev

Farid Veliyev

Business News Correspondent

Investment management company Fonte Capital has announced the listing of the Fonte Bitcoin Exchange Traded Fund (ETF) on the Astana International Exchange (AIX), according to a statement on the company’s website. An ETF is an exchange-traded investment fund that is traded in a way similar to ordinary shares. Typically, it…

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August 14, 2025

Mining giant ERG delivers $365 million dividend payout to Kazakhstan

Zhanel Zhazetova

Zhanel Zhazetova

Senior Business News Correspondent z.zhazetova@kursiv.media

Kazakhstan has received $365 million in dividends from Eurasian Resources Group (ERG) that had been frozen in Luxembourg, Finance Minister Madi Takiyev said at a recent government briefing. «This year, we received $365 million in dividends for previous years,» Takiyev said. «For 2024, the financial statements have just been completed;…

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August 14, 2025

Kazakhstan’s hands are tied: Altel, Tele2 rates shielded from scrutiny until 2027

Zhanel Zhazetova

Zhanel Zhazetova

Senior Business News Correspondent z.zhazetova@kursiv.media

Mobile rates for Altel and Tele2 customers in Kazakhstan are off-limits to government scrutiny until the end of 2026, following a court decision tied to an international agreement with Qatar. Mobile Telecom-Service (MTS), which owns the Altel and Tele2 brands, won its case in the Almaty Court of Appeal, which…

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August 14, 2025

Eco-activists sue ministry of energy over transparency in Kashagan & Tengiz deals

Zhanbolat Mamyshev

Zhanbolat Mamyshev

Senior Business News Correspondent zh.mamyshev@kursiv.kz
Save the Caspian Sea қозғалысы энергетика министрлігін сотқа берді/фото: Жанболат Мамышев

The co-founder of the Save the Caspian Sea movement, Vadim Ni, has filed a lawsuit against Kazakhstan’s Ministry of Energy, demanding that the production sharing agreements for the country’s largest oil projects — Kashagan, Tengiz and Karachaganak — be made public. Ni told Kursiv.media that the case has already reached…

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August 11, 2025

Analysts downgrade tenge exchange rate outlook for next year

Danil Tumashevich

Danil Tumashevich

Copy editor d.tumashevich@kursiv.kz
shutterstock, бильд-редактор: Дастан Шанай

Analysts at the Association of Financiers of Kazakhstan (AFK) have significantly raised their one-year forecast for the dollar to 573 tenge, up from 548.5 in the previous outlook — a deterioration of 24.5 tenge for the local currency, according to an AFK statement. They have also slightly downgraded their forecast…

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August 11, 2025

Kazakhstan’s national reserves rebound, ending two-month decline

Zhanel Zhazetova

Zhanel Zhazetova

Senior Business News Correspondent z.zhazetova@kursiv.media

Kazakhstan’s net international reserves, which include gold and foreign exchange assets, rose in July for the first time in two months, increasing 1.45% from the previous month to $50.3 billion, according to data from the National Bank. Reserves are up 15.54% since the start of the year. Gross international reserves…

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August 7, 2025

AI vs. inflation: Kazakhstan deploys supercomputer to tackle rising prices

Svyatoslav Antonov

Svyatoslav Antonov

Business News Correspondent s.antonov@kursiv.media

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…

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August 7, 2025

Italy, Lebanon to build new gas processing plant at Kazakhstan’s Tengiz field

Zhanbolat Mamyshev

Zhanbolat Mamyshev

Senior Business News Correspondent zh.mamyshev@kursiv.kz
 КМГ

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.…

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August 6, 2025

Microfinance organization KMF reregisters as a bank

Zhanel Zhazetova

Zhanel Zhazetova

Senior Business News Correspondent z.zhazetova@kursiv.media

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…

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August 6, 2025

The $1 American dream: New service lets Kazakhs invest in Amazon and Google

Svyatoslav Antonov

Svyatoslav Antonov

Business News Correspondent s.antonov@kursiv.media

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…

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August 6, 2025

ForteBank pushes back Home Credit Bank absorption to October

Zhanel Zhazetova

Zhanel Zhazetova

Senior Business News Correspondent z.zhazetova@kursiv.media

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…

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August 6, 2025

Uzbekistan and Kazakhstan emerge as world’s top gold buyers

Zhanel Zhazetova

Zhanel Zhazetova

Senior Business News Correspondent z.zhazetova@kursiv.media

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…

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August 5, 2025

Procedural errors void $4.2 billion fine against Kashagan operator, court says

Zhanel Zhazetova

Zhanel Zhazetova

Senior Business News Correspondent z.zhazetova@kursiv.media

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…

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Latest news
September 2, 2025

Kraft Heinz to break up into two companies by 2026

August 27, 2025

Underground gold mining launches at Central Asia’s largest mine

August 26, 2025

Despite expanding nuclear energy, China still leans on coal for electricity

August 22, 2025

Freedom Broker presents investment ideas for fall 2025

August 21, 2025

Weak tenge boosts KazMunayGas revenue

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