KMG International, a subsidiary of Kazakhstan’s national oil and gas company KazMunayGas (KMG), has resumed operations at a petrochemical unit within the Petromidia refinery in Romania, the company announced. Amid rising demand for petrochemical products in the European market, KMG has launched a low-density polyethylene (LDPE) production plant. The company…
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…
Vyacheslav Kim has retained the top spot on the list of the richest Kazakhstanis in 2025. Timur Turlov rose from 5th to 2nd place, while Vladimir Kim stepped up from 4th to 3rd. Timur Kulibayev and his wife Dinara dropped from 2nd to 6th, and Bulat Utemuratov was ranked 6th,…
According to Chinese Ambassador to Russia Zhang Hanhui, Russian gas delivered to China via Kazakhstan may be too expensive. The official stated that a more viable option would be gas supplies via Mongolia. «Delivering Russian gas through Kazakhstan doesn’t work because there is just one pipeline, and it already operates…
Kazakhstan’s government has introduced new pricing rules that cap discounts on the purchase of key nuclear materials at 15%. The regulation applies to uranium hexafluoride — produced by converting uranium oxide, a finished product of Kazakhstan’s uranium industry — and enriched uranium products. Under the new rules, the government will…
Kazakhstan’s latest macroeconomic review by analysts at the Applied Economics Research Centre (AERC) has amended the tenge exchange rate forecast to reflect its greater devaluation. In 2025, the exchange rate is expected to stand at 512.8 tenge per dollar on average, whereas the previous outlook from January suggested a rate…
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,…
Kazakhstan’s open defiance of OPEC+ production cut commitments is raising questions about whether the country may exit the alliance, potentially triggering a painful price war at a time of global market volatility, according to the Reuters news agency. Kazakhstan’s Energy Minister Yerlan Akkenzhenov told Reuters on Wednesday, April 23, that…
Kazakhstan, which has frequently exceeded its oil production quotas under the OPEC+ agreement, will independently set its output levels in the future, Energy Minister Yerlan Akkenzhenov said in a recent interview with Reuters. Akkenzhenov emphasized that the ministry will fully support increased production at the country’s largest oil field Tengiz,…
Arbitration proceedings over Kashagan — Kazakhstan’s largest oil field located on the Caspian shelf — could drag on until 2028, according to a new investigation by the International Consortium of Investigative Journalists (ICIJ). ICIJ’s findings are based on a confidential interim ruling in a $160 billion case, which centers on…
The Development Bank of Kazakhstan (DBK), a subsidiary of Baiterek Holding, has borrowed €200 million from the European Investment Bank (EIB). This money will be spent on the support of energy and transport infrastructure, as reported by the Kazakhstan Stock Exchange (KASE). Over the past year, the DBK has already…
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’s Agency for Regulation and Development of the Financial Market (ARDFM) is set to allow traditional banks to provide services under the Islamic window format. This is specified in a new draft law on banks and banking activities, which Dauren Salimbayev, director of the Department of Methodology and Prudential Regulation…
Kazakhstan has proposed a uranium mining and fuel supply deal to support Turkey’s growing nuclear energy ambitions, according to Baurzhan Duisebayev, CEO of the Chemical Engineering Design Bureau. «Suddenly, Turkey is leading the way: four reactors are under construction there, and it could become a valuable new partner for Kazakhstan,»…
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…
Oil and uranium account for 73% of Kazakhstan’s exports to the U.S. This category of goods is likely to be exempt from new tariffs imposed on trade partners of the U.S. by President Donald Trump. The White House has already published a document listing goods free of new duties. The…
Kazakhstan’s National Fund has declined by 819.8 billion tenge (approximately $1.6 billion) since the beginning of the year, according to the Ministry of Finance. In early January, the fund stood at nearly $65.8 billion, but by the end of March, it had dropped to about $64 billion at the current…
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…
In 2021, Freedom Bank launched its digital mortgage. Since then, the bank has issued 33,500 loans worth $1.2 billion to Kazakhstanis from various walks of life, Timur Turlov, the founder and CEO of Freedom Holding Corp., reported at a government briefing. «Our product — digital mortgage — allows borrowers to…
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…
Kazakhstan’s Prime Minister Olzhas Bektenov has signed a government decree granting Altyn Group Qazaqstan, a subsidiary of the British A Gold Plc, a temporary lease on a 71.37-hectare plot within the former Semipalatinsk nuclear test site. The company plans to expand gold mining operations in the Abay region, where the…
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…
