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…
Orano, a French nuclear fuel company, and Navoiyuran, Uzbekistan’s state-owned uranium mining enterprise, have signed an agreement to advance the industrial development of the South Djengeldi uranium deposit, Orano announced in a statement. Under the deal, uranium production is expected to ramp up to 700 tons per year within the…
Kazakhstan’s fintech giant Kaspi.kz plans to acquire the Turkish subsidiary of the Dutch Rabobank, according to Bloomberg, citing people familiar with the matter. As reported by the media company, the negotiation process is underway, and no final decision has been made. Any potential deal must be approved by Turkish regulators.…
According to Viktoria Ten, vice president of the Association of Kazakhstan’s Developers (AZK), if the value-added tax (VAT) is raised from 12% to 16% and developers lose their VAT exemption, housing prices will increase by 14%. Speaking at the Krysha Novostroiki conference, the expert also discussed the so-called social infrastructure…
A possible acquisition of Jusan Bank by Vyacheslav Kim, a majority shareholder in Kaspi.kz and the richest person in Kazakhstan, may lead to synergy between the two financial institutions. It would also be an additional driver for Kazakhstan’s stock market, analysts from Freedom Broker believe. They made this assumption within…
A two-day meeting of Caspian Pipeline Consortium (CPC) shareholders took place in Abu Dhabi, the United Arab Emirates, from Feb. 25 to Feb. 26, where they discussed the Ukrainian drone attack on the facility. In the late hours of Feb. 17, a group of Ukrainian unmanned aerial vehicles (UAVs) attacked…
Companies from the U.S., the European Union and China can bid for rights to Kazakhstan’s rare earth and rare metal deposits at government-held auctions, according to the country’s Minister of Industry and Construction Kanat Sharlapaev. Competition among major global players for these critical materials — essential for renewable energy, electric…
In 2024, the number of automated teller machines (ATMs) in Kazakhstan decreased by 0.6% year-on-year (YoY) to 12,569 machines. This decline is occurring while the cash-out share in the payment card transaction composition has stabilized. Kursiv Research is trying to figure out whether this is the end of ATMs as…
Almaty has adopted a new housing renovation program, marking the city’s third attempt in 13 years to curb the expansion of its dilapidated housing stock. The program, set to run until 2030, is expected to prioritize the interests of the city over those of developers. This third improvement plan, adopted…
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…
Kazakhstan’s leading pension fund management entities have released performance reports for the past year. Kursiv.media analyzed them to see which entities outperformed their competitors. In 2024, pension asset management companies (PAMCs) in Kazakhstan delivered solid returns for depositors. However, six major players in this review showed mixed investment results. BCC…
Zacks Small-Cap Research (Zacks SCR) values Protalix Biotherapeutics, a small Israeli drugmaker listed in the U.S., at nearly 500% higher than its current market price. The company stands out from peers because it already generates revenue and has recently paid off its debt. This, Zacks SCR points out, takes one…
Shares of aerospace components manufacturer Triumph Group spiked 34% yesterday, Monday, February 3, and hit a nearly four-year high. The trigger was an announcement that the company would be acquired at a 38% premium by affiliates of private equity giants Berkshire Partners and Warburg Pincus. Noble Capital Markets believes the…
Shares of several small-cap suppliers of avocados took a tumble yesterday, Monday, February 3, following the announcement by President Donald Trump of new tariffs on Mexico, Canada, and China. However, the losses eased later in the day after the U.S. and Mexico agreed to a truce for a month. Note…
The Motley Fool has spotlighted two reasons to buy shares of EVgo, a smaller company that builds charging stations for electric vehicles (EVs). The U.S. EV market is growing, and even the new administration of President Donald Trump is unlikely to stifle this growth. Moreover, the company holds a competitive…
Shares of Puerto Rican consulting firm Pharma-Bio Serv have the potential to rise 150% from current levels, according to Zacks Small-Cap Research (Zacks SCR). While the company had a bumpy 2024, its management is confident negative trends will reverse in 2025. Details Pharma-Bio Serv helps pharmaceutical companies to comply with…
Chip Skinner, who manages the Royce Smaller-Companies Growth Fund, has spotlighted ACV Auctions and Cantaloupe as two “high-confidence” holdings. The fund is part of Royce Investment Partners, founded by Wall Street legend Chuck Royce, and invests in companies that, in the words of Skinner, “look poised for multi-year periods of…
Piper Sandler expects the small- and mid-cap Russell 2000 index to outgain the large-cap S&P 500 in 2025. The investment bank believes that stocks of smaller companies offer investors the “most compelling opportunities,” as the underlying businesses are bolstered by a robust labor market, rising productivity, and an overall strong…
