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Samruk-Kazyna, Kazakhstan’s state-owned investment and development fund, reported a net profit of 1.795 trillion tenge (approximately $3.8 billion) in 2024, according to its CEO Nurlan Zhakupov. The fund projects a decline in net profit to nearly $2.8 billion in 2025. For comparison, in 2023, it reported a net profit of approximately $3.7 billion.

Samruk-Kazyna’s revenue totaled nearly $37 billion in 2024, up from approximately $34 billion in 2023. However, revenue for 2025 is expected to decrease to $33.6 billion. Meanwhile, the fund’s debt continues to rise, climbing from $17 billion in 2023 to $19 billion in 2024, with an estimated...

Kazakhstani MP Murat Abenov believes that videos on TikTok may have a destructive effect on children’s health, causing focus and memory issues along with depression. Therefore, he urged parents to limit their children’s access to social media.

Abenov’s comment followed a Facebook post by journalist Gulmira Abykai, who claimed that a seven-year-old girl no longer recognized her relatives after watching videos on TikTok. Moreover, according to the post, the girl’s personality changed.

«You feel admiration, fear, overexcitement, or sadness on TikTok every 15 seconds, which can lead to depression. Research on the issue has shown that...

Belarus might see its second nuclear power plant (NPP) as its President Alexander Lukashenko made such a plea to his Russian counterpart Vladimir Putin.

According to Kommersant.ru, during talks with Putin in Moscow, Lukashenko suggested that Rosatom — Russia’s state-owned nuclear energy corporation — build another NPP in Belarus. However, no details, including construction costs and the timeline, have been disclosed.

The first NPP cost Belarus $5.36 billion. The first reactor was officially launched in 2020, with Lukashenko attending the ceremony in person. Russia’s Atomstroyexport was the key partner of the country in that project.

Kazakhstan also seeks to build...

Armenia has accepted Azerbaijan’s proposals on the two previously unresolved articles of a peace agreement, according to DW.com.

On Thursday, Azerbaijani Foreign Minister Jeyhun Bayramov announced that negotiations with Armenia on the text of the peace deal have been completed.

The Armenian Foreign Ministry confirmed that both countries are now prepared to sign an agreement establishing peace and interstate relations.

Previously, Armenia and Azerbaijan had agreed on 15 of the 17 articles in the proposed treaty, with only two points left unresolved: renouncing mutual claims in international courts and prohibiting the deployment of third-party forces along the border.

Armenian Prime...

Marat Omarov, chairman of the Agency for Protection and Development of Competition (APDC), has recently proposed selling shares in the Atyrau Oil Refinery and the Pavlodar Petrochemical Plant, both owned by KazMunayGas (KMG), to private investors. He brought up this idea during a visit to the Shymkent Oil Refinery, another major plant co-owned by KMG and China National Petroleum Corporation (CNPC).

«There is a quality product, minimal required repairs and, most importantly, the future location of the project [i.e. the planned expansion of the Shymkent Oil Refinery’s capacity from 6 million to 12 million tons per...

Around 30 illegal migrants working at a city factory were identified by police during a special raid in Almaty called “Migrant.” Several of them, citizens of various African nations, also worked part-time as taxi drivers.

«Twenty-five people were employed at various construction sites in the city, while four others — citizens of African countries — worked as general laborers at a factory. Additionally, two foreign nationals were engaged in passenger transportation as taxi drivers,» said Yerkin Amantayev, head of the migration service at the Almaty police department.

He emphasized that all detainees have been held...

Japan expects to attract 28 million visitors to Expo 2025 in Osaka, as reported by the Bureau International des Expositions (BIE), the fair’s organizer.

This is seven times more attendants than Astana received during Expo 2017. According to Egov.kz, Kazakhstan welcomed more than 3 million people, while Forbes Kazakhstan reported 4 million visitors.

The Expo 2025 world fair will take place on Yumeshima, an artificial island, from April 13 to Oct. 13. Over 160 nations are expected to participate, including Kazakhstan and Ukraine, while Russia is not on the list of participants.

The theme of the upcoming exposition is «Designing...

Presidents Sadyr Japarov of Kyrgyzstan and Emomali Rakhmon of Tajikistan have signed a landmark agreement on their state border, according to the 24.kg news agency. For more than 30 years, the two nations struggled to resolve a border dispute, leading to periodic violent clashes.

The two leaders signed the historic agreement in Bishkek, drawing applause from their respective delegations.

The agreement will now be submitted to both countries’ parliaments for review. Upon ratification, it will return to the heads of state for final approval.

Japarov and Rakhmon also authorized the reopening of the border, which had been closed since May...

The specialized interdistrict economic court of the West Kazakhstan region has ruled that Karachaganak Petroleum Operating (KPO) must pay $1.1 million to Kapitalneftegaz, a state-owned company under the Ministry of Energy, along with $33,125 in state duty. This ruling follows a legal dispute in which Kapitalneftegaz claimed damages of $3.1 million against KPO.

Documents revealed during the hearings indicate that in June 2005, Kapitalneftegaz transferred some of its property to KPO as collateral for liabilities under the final product sharing agreement for the Karachaganak field, signed on Nov. 18, 1997. Under this arrangement, all property at the Karachaganak field was...

Yerbolat Dossayev has made numerous adversaries as akim (mayor) of Almaty, largely due to his decision to impose a ban on construction in the city’s mountainous areas. He addressed the issue during a meeting with Almaty residents, emphasizing that some developers continue to exploit legal loopholes to move forward with their projects.

«It is impossible to impose a moratorium on apartment complex construction in a specific district by law. But we regulate these issues. You wouldn’t believe how many projects have been denied approval in recent years. I already have many enemies in the city because...

A severe sugar shortage struck the country in the summer of 2022 / Photo: Shutterstock, photo editor: Dastan Shanay

Kazakhstan’s Deputy Minister of Trade and Integration Kairat Torebayev stated that Kazakhstan is not expected to face a sugar crisis this year due to the government’s engagement with sugar beet farmers and cooperation with sugar refineries.

«We have drawn conclusions from past sugar scarcities in Kazakhstan. The Ministry of Agriculture has provided necessary assistance to farmers involved in sugar beet cultivation. Authorities also support domestic sugar factories, which process the beet and utilize imported materials. The work...

Kazakhstan’s Ministry of Energy admitted that the country had exceeded an OPEC+ oil production quota. The agency cited «operating procedures» within the Future Growth Project (FGP) at Tengiz as the reason for this occurrence. The ministry has vowed to compensate for the temporary increase in production.

«The current exceeding of oil production quotas in February is due to operating procedures within the Future Growth Project (FGP) at Tengiz. This project is long-term in nature and aims to secure stable energy resource supplies and fulfill our mid-term obligations,» the agency said in a statement.

Earlier this...

Intergas Central Asia, a subsidiary of QazaqGaz, will borrow 26 billion rubles (nearly $300 million) from the Eurasian Development Bank, according to a statement published on the Kazakhstan Stock Exchange (KASE) website.

The announcement specifies that the loan will be repaid over 10 years with an interest rate of 9%.

No details were provided on how the funds will be used. Kursiv.media contacted the parent company for comment but received no response prior to publication.

In late February 2025, media reports indicated that in 2024, Intergas Central Asia increased its net profit nearly fivefold to almost $100 million.

The company...

The Chinese car brand Lynk & Co., a subsidiary of China’s Geely Holding Group and Sweden’s Volvo Cars, has come to Kazakhstan as Orbis Auto has been chosen to be the brand’s official distributor in the country. The start of sales of Lynk vehicles is scheduled for the second quarter of 2025, as reported by the company’s press release.

Two models will be available at launch: the Lynk & Co 03, a sports sedan with a 2-liter gasoline engine, and the Lynk & Co 09, a premium crossover featuring mild-hybrid technology, with plans for model lineup expansion. Sales will commence...

KazMunayGas (KMG), Kazakhstan’s national oil company, has announced a new contract for oil exploration and production at the Bolashak field in the Mangystau region. The contract was signed with the Ministry of Energy on March 7.

According to a document published by KMG’s Chief Financial Officer Marat Dikanbayev, the project is considered technically complex. The ministry estimates potential investments at around $92.2 million. Under the project’s work program, the investor is expected to drill two wells and conduct 3D seismic exploration over an area of 430 square kilometers.

In addition, the Energy Ministry reported the start of direct negotiations with...

Seeking to attract more investors to Kazakhstan, the Agency for Regulation and Development of the Financial Market (ARDFM) aims to develop a guide to the country’s bond market, according to its 2025 plan.

Even though the agency has not disclosed further details on the initiative, it said that it intends to stimulate private businesses to go public on the stock market. Furthermore, the ARDFM will take measures to increase the share of domestic offerings in parallel with their international placements.

The agency also plans to establish a legislative base for cryptocurrency market development beyond the Astana International Financial Centre’s jurisdiction...

Beata Javorcik, the chief economist of the European Bank for Reconstruction and Development (EBRD), advises Kazakhstan to establish a world-class agency focused on attracting foreign investments. In an interview with Kursiv.media, the expert emphasized that Kazakh Invest, the national export and investment agency in Kazakhstan, should raise the bar in its performance. The agency is already striving for its goal of becoming a “leading institution for attracting foreign investments in Central Asia, the Commonwealth of Independent States (CIS) and among countries with transition economies.”

«For a country like Kazakhstan, it would be important to have a...

In March 2019, Kassym-Jomart Tokayev took over as president of Kazakhstan after Nursultan Nazarbayev, the country’s first president, voluntarily resigned. In June 2019, Tokayev won the presidential election with 70.96% of the vote. Five years into his presidency, how has Kazakhstan’s economy changed?

During this period, the nation’s economy contracted only once. In 2020, Kazakhstan’s GDP fell by 2.5% as quarantine restrictions were introduced to combat the COVID-19 pandemic, negatively impacting business activity. Every other year, the economy grew at an average rate of 4.4%. However, President Tokayev set an ambitious target in 2023, announcing a goal to double Kazakhstan’s...

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 payment, which requires developers to contribute to upgrading municipal infrastructure. The payment amount will depend on the floor size of the buildings a developer puts up for sale.

«All in all, the tax rate increase and the removal of tax benefits for developers will lead to...

Condor Energies Inc., a publicly traded energy company headquartered in Calgary, Canada, has obtained a license to produce solid minerals in Kazakhstan at the Kolkuduk field, which spans 6,800 hectares. The company believes that the field contains an abundance of lithium.

It is worth noting that Kolkuduk is located next to the Sayakbay field, which spans 37,300 hectares and is already under the company’s management. Both fields are situated in a region full of faults, which can absorb and accumulate mineralized brines in underground reservoirs.

Geological exploration of the Kolkuduk field has shown the presence of approximately 130 milligrams of...

KazMunayGas (KMG) CEO Askhat Khassenov has proposed that the Abu Dhabi National Oil Company (ADNOC) consider investing in Kazakhstani oil and gas projects, according to the KMG press service.

A Kazakhstani delegation held talks with ADNOC CEO Sultan Ahmed Al Jaber during a working visit to the U.S. The two sides discussed prospects for partnerships in geological exploration, the petrochemical industry, energy transition and digital technologies.

Khassenov noted that KMG has successfully completed its roadshow, attracting both domestic and international investors. The company has now prepared three new geological exploration projects; they are ready for seismic exploration works.

ADNOC, founded...

Kazakhstan aims to register its first domestically developed cancer treatment drug by the end of 2025, Minister of Science and Higher Education Sayasat Nurbek announced at a recent government briefing.

Nurbek noted that the drug successfully passed its first-stage clinical trials in 2024. The trials have since expanded to include patients with various cancer types, moving beyond the initial focus on colorectal cancer.

«Clinical trials are currently underway across various cancer types. Patients are demonstrating positive outcomes, with an average tumor reduction of 30%. Some patients have achieved remission. We aim to finalize trials and register...

Kazakhstan is set to launch a business acceleration program for startups called AI-Sana, as announced by Kazakhstan’s Minister of Science and Higher Education Sayasat Nurbek, during a cabinet meeting.

The program focuses on supporting startups that promote artificial intelligence (AI) in various fields. These startups are expected to be implemented by teams composed of students from Kazakhstan’s leading universities.

«This year, 650,000 students will complete special AI training. At the second stage, 100,000 students will attend courses developed in cooperation with Paul Kim, the chief technology officer and associate dean of the Graduate School of Education...

Kazakhstani retailers have identified five major trends that dominated the local fast-moving consumer goods (FMCG) market in 2024. This story by Kursiv.media explores how retail chains are adapting and what they expect in 2025.

Key trends shaping Kazakhstan’s retail market

Price sensitivity

A major trend highlighted by retailers is growing price sensitivity among consumers. Amid ongoing inflation and rising costs, shoppers are focused on price, comparing options across different sales channels and seeking the best deals.

«Recent global economic challenges have re-emphasized the importance of price for Kazakhstani shoppers. Before 2020, service, convenience and one-stop shopping...