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…
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…
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.…
Investment in fixed assets across enterprises in Kazakhstan continues to grow. Notably, this growth is driven less by oil projects and more by infrastructure developments, including schools and hospitals. Despite this shift, the ratio of investments to GDP has declined, reaching a 10-year low. Top 100 largest investment projects by…
For years, the U.S. has ranked among the largest investors in Kazakhstan. But in 2023, foreign direct investment (FDI) from the U.S. dropped by nearly 80%. In 2024, the country recorded a net outflow of $870 million in U.S. investment, the first such outflow since data tracking began in 2005,…
Foreign investors began pulling out of Kazakhstani securities after U.S. President Donald Trump announced new tariffs on imported goods from more than 180 countries, according to National Bank Chairman Timur Suleimenov. He addressed the issue during a press briefing on April 11, adding that the situation has since stabilized. Suleimenov…
Kazakhstan is eyeing a mining boom and seeking partners in Canada. During a recent visit to Toronto, Renat Bekturov, governor of the Astana International Financial Centre (AIFC), estimated the value of Kazakhstan’s untapped mineral resources at $40 trillion. He invited Canadian companies to play a role in developing these resources.…
Kazakh Invest, Kazakhstan’s national investment promotion agency, has addressed the recent decline in foreign direct investment (FDI) to the country. In 2024, gross FDI inflows dropped by 28%, from $23.9 billion to $17.1 billion. Meanwhile, net FDI turned negative for the first time since records began in 2005, reaching -$2.55…
Global stock markets took a sharp dive following the U.S. announcement of new import tariffs targeting more than 180 countries. Kazakhstan’s stock exchange followed suit: on April 4, the KASE index dropped 2.7% to 5,522 points. Analysts surveyed by Kursiv.media warn the market may face continued pressure in the days…
The Agency for Regulation and Development of the Financial Market (ARDFM) of Kazakhstan has drafted several laws aimed at regulating investment funds. These drafts are available for public review at Legalacts.egov.kz. Currently, all joint-stock, mutual, venture, Islamic and real estate funds in Kazakhstan are regulated under the law on Investment…
Halyk Bank shares have reached a multi-year high on the Kazakhstan Stock Exchange (KASE), peaking at 304.88 tenge ($0.61). At the time of publication, the shares were trading at 299.43 tenge ($0.59) per share. This marks the highest level since February 2011, when Halyk Bank shares were traded on KASE…
Teniz Capital Brokerage LTD, a sister company of Teniz Capital Investment Banking registered with the Astana International Financial Centre (AIFC), has acquired a 49% stake in the Tabys mobile investment application, as announced by the AIFC. The deal’s value remains undisclosed. According to Tabys representatives, the company does not plan…
Dozens of Kazakhstani investors who lost money through real estate investments on the Proportunity platform plan to file a lawsuit in the Astana International Financial Centre (AIFC) court against the Astana Financial Services Authority (AFSA), AIFC’s independent regulator. The investors, who accuse AFSA of inaction and failing to protect their…
In 2024, Air Astana, Kazakhstan’s national airline, and its low-cost subsidiary FlyArystan generated $1.3 billion in revenue, a 12.4% increase year-on-year (YoY), according to the company’s statements posted on the Astana International Exchange (AIX) website. The growth was driven by passenger and cargo revenues, as well as an aircraft engine…
The world’s largest cities are overcrowded, and there is no end in sight to their growth. This makes alternatives to traditional ground transportation increasingly necessary. One of them is air taxis. In fact, JPMorgan sees the air taxi market reaching $1.0 trillion by 2040, versus just over $3.5 billion in…
Shares of biotech micro cap Equillium soared 33% yesterday, Thursday, February 6, although some of the gains have been lost before the opening bell today. The company announced that its drug for ulcerative colitis, which it is testing together with Indian pharmaceutical giant Biocon, has shown results that are no…
Quotes on the small-cap telemedicine platform Teladoc Health surged almost 6% yesterday, Wednesday, February 5, before extending the gains in premarket trading today. The trigger was an announcement that the company had signed an agreement to acquire Catapult Health, which provides at-home diagnostic kits. The deal follows a challenging period…
Shares of Zedge, a micro-cap company that offers an emoji encyclopedia, ringtones, and wallpapers for mobile phones, surged almost 11% yesterday, Wednesday, February 5, after the company announced new restructuring steps aimed at saving up to $4 million annually. Details Yesterday, Zedge advanced almost 11% on the New York Stock…
Micro-cap space services provider Sidus Space soared more than 10% yesterday, Tuesday, February 4, after an announcement that the company’s third satellite had arrived at a California space facility for final preparations ahead of launch. The mission will be carried out in collaboration with SpaceX, owned by Elon Musk, Sidus…
Quotes on the small-cap MAIA Biotechnology jumped almost 6% yesterday, Tuesday, February 4, after the company revealed phase II clinical trial results for its drug that is said to offer a fundamentally new approach to cancer treatment. The therapy has proved to be superior to existing treatments, MAIA claims, and…
