News

In 2024, Kazakhstan reduced the share of its shadow economy by 1.3 percentage points (p.p.), bringing it down to 16.2% of GDP. This achievement was highlighted in a report presented to President Kassym-Jomart Tokayev by Zhanat Elimanov, head of the Financial Monitoring Agency (FMA).

As part of the comprehensive action plan to combat the shadow economy for 2023-2025, the cabinet established specific targets for its share of GDP: a maximum of 18.2% in 2023, 16.6% in 2024 and 15% by 2025. According to data from the Bureau of National Statistics (BNS), the shadow economy’s share fell to 17.52% in...

The Business Activity Index reached 49.7 in December, down from 50.8 in November. The rate slipped back into contraction territory for the second time in three months, according to Kazakhstan Services PMI® prepared by Freedom Holding Corp. and S&P Global.

The Business Activity Index is calculated from a single question that asks 250 managers for changes in the volume of business activity compared with one month previously. The index varies between 0 and 100, with a reading above 50 indicating an increase and below 50 a decrease. The index is adjusted for seasonal variation.

Even though some service providers noted...

The Federal Foreign Office of Germany has introduced a new process for applying for visas online, as reported by Deutsche Welle.

From now on, applications for work, student, job seeker and family reunion visas to Germany can now be submitted online worldwide through a newly launched online portal. In Kazakhstan, the new visa application method is expected to become available in the first quarter of this year.

As of today, 167 German visa offices across the globe are connected to this portal, including the German diplomatic mission in Kazakhstan. However, the system has yet to be fully deployed, as some...

Sayasat Nurbek, Kazakhstan’s minister of science and higher education, has dismissed the accusations made by Shigeo Katsu, the former president of Nazarbayev University (NU), as unfounded.

Speaking to journalists on the sidelines of the government meeting, Nurbek responded to questions about Katsu’s recent open letter, in which he accused the university’s current leadership of corruption and ineffective management. While NU’s official response to the letter described Katsu’s claims as largely inaccurate and misleading, Nurbek refrained from addressing the details.

«Last year, the Supreme Audit Chamber (SAC) conducted a comprehensive audit of NU. Based on its findings...

Yuji Beleza, a popular Japanese blogger and polyglot has once again arrived in Kazakhstan to meet his followers, enjoy the nature of the Almaty region and enhance his Kazakh language skills. The 26-year-old blogger has gained popularity in Kazakhstan thanks to his resemblance to Kazakhs and his love for Kazakhstani chocolate. A Kursiv LifeStyle reporter met with Yuji to discuss his popularity in Kazakhstan and his approach to learning foreign languages. 

Beleza launched his blog in September 2023, when he first posted videos of him speaking in Turkish. In these videos, he approaches tourists, asks where they are from and...

Kazakhstan’s transportation and logistics industry is set to create 25 entirely new professions related to Building Information Modeling (BIM) technologies and aviation, according to Minister of Transport Marat Karabayev.

Speaking at a government meeting dedicated to the Year of Working Professions in Kazakhstan, Karabayev highlighted the growing use of BIM technologies, such as digital project models and 3D modeling, in the construction and reconstruction of highways.

«This sector will require professionals such as design engineers for smart roads, foremen with BIM skills, construction robot operators and digital designers. Additionally, designers and operators for digital logistics maps...

National Information Technologies (NIT) has successfully raised $5.6 million through a bond issuance on the Kazakhstan Stock Exchange, with the offering underwritten by ForteFinance, part of the Forte ecosystem controlled by Kazakhstani mogul Bulat Utemuratov.

NIT, the key operator of Kazakhstan’s eGov system, plans to allocate these funds for the further development of IT infrastructure supporting public agencies.

In total, the company issued three million bonds at 1,000 tenge per unit, with an annual coupon rate of 19% and a maturity period of three years. The company has not provided any indication of expected yields. The securities have been available...

Kazakhstan’s first nuclear power plant (NPP) construction project is expected to provide jobs for around 10,000 people by 2032, according to Minister of Energy Almassadam Satkaliyev. He shared this information during a government meeting dedicated to the Year of Working Professions in Kazakhstan.

«The NPP project is expected to create jobs for about 5,000 people by 2030, with the number rising to approximately 10,000 at the peak of construction in 2032. Once operational, the plant will provide jobs for at least 2,000 people,» Satkaliyev stated.

To prepare personnel for operating the NPP, training programs will...

The National Bank of Kazakhstan is ready to utilize its foreign currency and gold reserves to support the tenge, according to Aliya Moldabekova, deputy chair of the bank.

«In the event of unreasonable pressure on the tenge not conditioned with the fundamental factors, the National Bank is ready to supply an additional amount of foreign currency to the market by using its foreign exchange and gold reserves,» Moldabekova wrote in a statement.  

The National Bank has also explained the current weakening of the national currency. As of Jan. 5, the stock exchange price of...

Kazakhstan’s National Security Committee, in collaboration with the Ministry of Culture and Information and the Financial Monitoring Agency (FMA), blocked more than 3,500 illegal online cryptocurrency exchanges in 2024, according to an FMA report.

Additionally, 36 offline cryptocurrency exchanges with a combined turnover exceeding $120 million were shut down last year. The FMA also froze assets worth 4.8 million Tether (USDT) during the crackdown.

Authorities uncovered two cryptocurrency-based pyramid schemes, recovering USDT545,000 and freezing an additional USDT120,000 in assets.

The FMA warned that illegal crypto exchanges often fail to verify client identities or monitor suspicious transactions. This makes them a...

Kazakhstani experts have identified that a viral neuroinfection was the main cause of death for more than 1,000 Caspian seals in the Mangystau region. The virus was discovered in all the samples, as reported by Lada.kz.

The molecular genetic analysis conducted by the Institute of Microbiology and Virology in Almaty revealed a new viral disease in the brains and lung tissues of the deceased seals.

«All the probes tested positive for the virus. This indicates a viral neuroinfection. The detection of the virus in the animals’ brains proves that it is the sole cause of disease...

Heavy snowfall and fog have disrupted operations at the Almaty International Airport, resulting in numerous flight delays.

«Due to adverse weather on Jan. 8 (snowfall and fog), the departure times for some flights have been rescheduled,» the airport said in a statement.

Delayed flights include domestic routes to Shymkent, Aktau, Atyrau, Astana and Semey, as well as international flights to Novosibirsk and Moscow in Russia, and Sri Lanka.

According to Air Astana CEO Peter Foster, the frequent flight delays recently reported at Almaty Airport are often caused by a combination of factors. These include...

Preparations for spring floods in Kazakhstan are in full swing. According to the country’s Ministry of Water Resources and Irrigation, several regions at risk of spring flooding reported that dam construction is 40% complete.

«The ministry is implementing 56 anti-flood projects in 84 settlements. As part of this effort, a network of dams with a total length of 310 kilometers is under construction. As of today, 40% of the work has been completed,» the agency stated.

This work is being carried out in the Akmola, Aktobe, Pavlodar, Kostanay, West Kazakhstan and North Kazakhstan regions, the...

Kazakhstan’s Ministry of Industry and Construction has unveiled plans for the country’s industrial growth in 2025. The ministry anticipates that 190 projects will be implemented, creating 20,000 new jobs.

A substantial share of the investments will focus on vehicle manufacturing, household appliances and metallurgy. In 2025, the Astana Motors multi-brand plant will open in Almaty to manufacture Chinese car brands Chery, Haval and Changan. With a capacity of up to 90,000 cars annually, the plant will create 2,200 new jobs. The project is expected to receive an investment of $400 million.

Additionally, the KIA Qazaqstan plant is set to open...

The international ridesharing service inDrive, founded by Arsen Tomsky, has invested in the Kazakhstani grocery and meal delivery service Ryadom (meaning “nearby” in English). The deal was executed through the company’s venture arm, New Ventures, according to a statement from the enterprise’s press office.

Ryadom was founded in 2020 by Kuanysh Ablayev and Daniyar Toyembayev within the Choco Holding ecosystem established by Ramil Mukhoryapov. The meal delivery service operates 19 warehouses in Almaty and Astana, covering 300 square meters each. One facility serves the nearest district within a 1.2-kilometer radius.  

According to the company, Ryadom delivers 83% of its...

Ulba FA, the Kazakhstani-Chinese factory manufacturing fuel for nuclear power plants (NPPs), has become fully operational three years after its launch. According to Kazatomprom, the factory has produced 200 tons of low-enriched uranium in the form of fuel assemblies, which is enough to reload six nuclear reactors.

Ulba FA is the only nuclear fuel manufacturer in Central Asia. The project is a joint venture between the Ulba Metallurgical Plant (UMZ) and China General Nuclear Power Corporation.

The plant was launched in November 2021 and has been steadily increasing its production capacity according to its initial plan. The factory exports all...

Bank CenterCredit (BCC), Kazakhstan’s third-largest bank by assets, has temporarily suspended dollar transactions at its ATMs.

«BCC ATMs are temporarily unavailable for withdrawals, deposits and exchanges of U.S. dollars. We apologize for the inconvenience and appreciate your understanding,» the bank announced in a statement on its website.

The bank’s PR office stated that the suspension was due to ongoing technical upgrades aimed at enhancing ATM security. BCC plans to resume dollar operations by Jan. 15.

The bank had previously clarified recent changes to currency transaction rules for companies in Kazakhstan, which took effect on Jan...

The International IQ Registry, a popular platform for IQ testing, has released its annual report on average IQ ratings by country. Kazakhstan ranked 66th out of 127 nations, with an average score of 97.27 points.

The study is based on 2024 results scored by nearly 1.4 million users who completed the test on the website. The top five nations are China, Iran, South Korea, Japan and Singapore, with average IQ scores ranging from 105 to 107 points.

«The average IQ by country seems to be generally higher in East Asia; close to average in Europe...

In an interview with American podcaster Lex Fridman, Ukrainian President Volodymyr Zelenskyy has revealed that back in 2022, just as Russia’s full-scale invasion of Ukraine broke out, he had an interesting phone conversation with Belarussian President Alexander Lukashenko. During the call, Lukashenko apologized for missile strikes launched from his country and suggested Zelenskyy hit an oil refinery in Belarus.

«And he apologized. And he said that it was not me; missiles were launched from my territory, and Putin was the one launching them. These are his words. I have witnesses… I told him, ‘You are...

In 2024, nearly 10 million tons of Russian oil were transported through Kazakhstan to China, according to KazTransOil, Kazakhstan’s national oil transportation company.

«Between January and November 2024, KazTransOil JSC facilitated the transit of 9,126,000 tons of Russian oil through Kazakhstan to the People’s Republic of China (PRC). Under the oil transportation schedule approved by Kazakhstan’s Ministry of Energy, KazTransOil JSC is set to deliver an additional 863,100 tons of Russian oil to the PRC in December 2024,» the company stated.

Under an agreement with Rosneft, Russia’s state-owned oil and gas company, KazTransOil is expected...

Canada intends to finalize a $1.6 billion deal with NexGen Energy, a company developing the Rook One uranium field. NexGen believes that acquiring the field will enable Canada to outperform Kazakhstan in uranium production within five years, The Financial Times reported.

As of the end of 2023, Kazakhstan remained the global leader in uranium production.

According to Lee Currier, CEO of NexGen Energy, this project is capable of making Canada the leader in uranium production once again.

He also revealed that a number of American energy companies are eager to acquire uranium from Rook One. The field is in...

Between January and November 2024, China imported 15,100 tons of wheat or maslin flour from Kazakhstan, valued at $3.4 million. This marks a 2.5-fold increase in volume and a 1.6-fold increase in value year-on-year, according to customs data.

In 2024, China became the largest buyer of Kazakhstani barley and the third-largest importer of its wheat. Overall, Kazakhstan exported 1.6 million tons of flour (-7%) for $448.4 million (-12.47%) between January and November. Afghanistan remained the top consumer of Kazakhstani flour, purchasing 1.1 million tons (-3.8%) for $288.7 million (-13.39%).

Uzbekistan imported 403,800 tons of flour (-17.9%) worth $128.5 million...

The Freedom Holding Corp. Kazakhstan Manufacturing PMI® (Purchasing Managers’ Index™) hit a fresh survey record for the second month running in December, rising to 53.9 from 53.5 in November. The index varies between 0 and 100, with a reading above 50 indicating an increase and below 50 a decrease.

Why is business activity in the manufacturing sector growing?

According to analysts, the record-high rate reflects record increases in new orders and manufacturing production. Staffing levels increased modestly, but sustained job creation has been recorded since March, with firms often highlighting the securing of workers on a full-time basis at the...

Human metapneumovirus (HMPV), whose spread is increasingly being reported by the media, has been detected in Kazakhstan, according to the Ministry of Healthcare. In response, the agency has issued a set of recommendations for Kazakhstanis on how to avoid contracting the virus.

«Human metapneumovirus is one of the classic viruses that has been roaming around different countries for decades. Variants of this virus have been detected in Kazakhstan alongside other infection types actively circulating during the seasonal incidence of flu and acute respiratory viral infections,» the agency said in a statement.

Kazakhstan’s Committee of Sanitary...