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President of Kazakhstan Kassym-Jomart Tokayev has instructed the cabinet to accelerate negotiations with foreign investors on the extension of production sharing agreements (PSAs) under new, preferential terms for Kazakhstan.

«With the help of production sharing agreements, Kazakhstan has become a reliable supplier of energy carriers on the global market… Meanwhile, large investments require a long-term planning timeframe. This is why the cabinet should advance negotiations about extending PSAs under renewed, more beneficial conditions for the country,» he said during a cabinet meeting.

He also highlighted that these projects play a crucial role in the socio-economic...

Prime Minister of Kazakhstan Olzhas Bektenov has revealed the status of the Baiterek space rocket complex project, which is being implemented at the Baikonur Cosmodrome.

The project is being developed based on the Zenit-M complex infrastructure. This facility has been under Kazakhstan’s control since 2018, when Russia stopped leasing it.

The Baiterek space rocket complex is a joint project of Russia and Kazakhstan, with Kazakhstan investing approximately $121 million from the state budget between 2025 and 2027. Notably, in 2024, investments totaled around $28 million.

The Roscosmos-affiliated Center for Ground-Based Space Infrastructure Facilities Operation is the primary developer of the...

According to the Ministry of Agriculture of Kazakhstan, a large greenhouse park will be built in Shymkent. The total investment in the project is estimated at $650 million.

The deal was formally sealed on Jan. 27, when the Ministry of Agriculture, Alarko Holding, the administration of the city of Shymkent and Alsera KZ, a Kazakhstani subsidiary of Alarko, signed an agreement on the implementation of the project. Turkish Ambassador to Kazakhstan Mustafa Kapucu, along with representatives from Kazakhstan’s Ministry of Foreign Affairs and Kazakh Invest, also took part in the negotiations on the project.

Once commissioned, the greenhouse park will...

Graceful birds have been spotted in Almaty at Lake Sayran and the Esentai River. Despite obvious admiration, users on social media have also expressed their concerns about the herons’ safety.

Enthusiasts explained on social media that Sayran attracts the herons with fish. Additionally, many concerned citizens come to the lake with their children to feed the herons. The lake’s avian variety also includes numerous ducks and cormorants.   

One more...

The Ministry of Agriculture of Russia is trying to reach a new transit agreement with Kazakhstan as it wants tariffs for Russian grain suppliers to be the same as for Kazakhstani suppliers, the Interfax news agency reported, citing Russian Agriculture Minister Oksana Lut, who made this statement at a forum called «The Development of Small Agricultural Business in Russia.»

«We are trying to reach an agreement with the neighboring country to align these transit tariffs with tariffs for residents of Kazakhstan and create the same condition for all suppliers,» the minister said.

She emphasized that...

Last week, Kazakhstan Cadet and Junior Chess Championship 2025, in which around 950 players participated, was held in Almaty, the Kazakhstan Chess Federation (KazChess) reported.

The tournament (Jan. 15 to Jan. 25) featured three formats: classical, rapid and blitz chess. Players from seven age groups, ranging from 6 to 18, competed in the event.

Last year, only one participant, Alimzhan Zhauynbay managed to secure the absolute champion’s title in the O10-age category. However, this year, four players claimed first place across all three formats: Makar Chernyshov (O6), Danis Kuandykuly (O12), Zhansaya Sholpanbek (G12) and Elnaz Kaliakhmet, who emerged victorious in...

OnlineKazFinance, a microfinance organization operating under the Solva brand, announced its plans to enter the Uzbekistani market. The statement was made during the Investor Day at KASE event. The company anticipates obtaining a license in the first half of 2025, according to its presentation.

Solva announced that it had already developed a dedicated IT platform for doing business in Uzbekistan, with preparations for entering the country’s market having been underway for over a year.

The primary effort of a future Uzbekistani subsidiary will be focused on financing small and medium-sized businesses. Solva analysts highlighted that this expansion will help diversify...

Russia and China’s drive to ensure economic security amid global uncertainty could accelerate the launch of key energy projects in Kazakhstan.

The word «uncertainty» has quickly become one of the most frequently used terms in forecasts for 2025. It repeatedly appears in the recent Global Risks Report 2025 by the World Economic Forum. It’s also a central theme in UNCTAD’s December 2024 Global Trade Update and the World Economic Situation and Prospects 2025 report, released earlier this month by the UN Department of Economic and Social Affairs.

In response to growing uncertainty, global powers are reverting to an old strategy...

The Russian retailer Fix Price has become the owner of a 100% stake in Best Price, an operational subsidiary of the retailer, and a 1% stake in Best Price Export. Previously, both stakes were controlled by Fix Price plc, a holding structure registered in Kazakhstan. According to analysts from the Russian broker BCS World of Investments, this structural change appear to be a technical preparation for redomiciling to Russia.

«Fix Price reported that it was reviewing a scenario for listing its Russian subsidiary on the Moscow Exchange (MoEx) and considering the exchange of receipts for the...

Kazakhstani sumo wrestler Yersin Baltagul, competing under the Japanese name Kinbozan Haruki, secured a silver medal at the Hatsu Basho 2025 tournament (New Year’s sumo tournament) held in Tokyo, according to Tachiai.org, a sumo-focused blog. The tournament’s winner was Mongolian sumo wrestler nicknamed Hoshoryu Tomokatsu.

Kinbozan from Kazakhstan, Mongolian wrestler Hoshoryu Tomokatsu and Japanese wrestler Oho Konosuke finished with the same number of victories, prompting an extra round to determine the champion.

The wrestlers drew lots to decide who would initiate the fight. In the first bout, Hoshoryu defeated Kazakhstani Kinbozan; in the final round, the Mongolian wrestler outperformed...

President of Uzbekistan Shavkat Mirziyoyev and President of Kyrgyzstan Sadyr Japarov held an informal meeting at the Amirsoy ski resort in the Tashkent region of Uzbekistan. During the negotiations the two leaders have agreed to closely cooperate in developing joint projects related to recreational centers and resorts in Uzbekistan and Kyrgyzstan, the press service of the Uzbek president reported.

After the meeting, Japarov highly commended the Amirsoy Resort.

«When I visited Amirsoy, it struck me. My colleague Shavkat Mirziyoyev has built this amazing ski resort from scratch. I am speechless. It is simply a great achievement...

Kazakhstan Temir Zholy (KTZ), the national railway company in Kazakhstan, has launched a satellite internet connection powered by British Eutelsat OneWeb on a train operating the Astana-Almaty route. According to the company’s press service, the project is currently in its pilot phase and is planned to expand across all 15 routes served by the Talgo high-speed trains.

It takes 17 hours to travel by train from Astana to Almaty, and now, one train in the KTZ’s fleet offers a stable internet connection to all 500 passengers throughout the journey. 

The quality of the internet allows passengers to make video calls...

The government is weighing acquiring shares in the capital of private power monopolies, according to Asan Darbayev, chair of Kazakhstan’s Committee on Regulation of Natural Monopolies and Protection of Competition and Consumer Rights.

«There are seven mechanisms available to finance the move. The main one is direct financing, which implies using the funds raised from domestic and international financial organizations. Other tools include syndicated financing and co-funding, bond issuance, publicly funded loans, bonds issued by private businesses and, if necessary, acquiring stakes in private monopolies,» Darbayev said during a briefing on the national project on the...

Tengizchevroil (TCO), a joint venture controlled by U.S.-based Chevron (50%), ExxonMobil (25%), KazMunayGas (20%) and the Russian oil company Lukoil (5%), has produced its first oil from the Future Growth Project at Kazakhstan’s largest oil field Tengiz, according to a release from TCO.

«TCO has reached a significant milestone at its Future Growth Project (FGP), by safely initiating production of crude oil at its new Third-Generation Plant (3GP) at the Tengiz oilfield. This milestone marks the beginning of a gradual ramp-up of 3GP production over the coming months, which is expected to expand Tengiz’s crude oil...

Binance Kazakhstan has presented a crypto market development outlook for 2025. In its review of 2024, the crypto exchange platform described Kazakhstan as «one of the largest crypto mining centers.» This happened after many crypto mining farms originally based in China migrated to Kazakhstan.

The global crypto market may experience “fundamental changes” this year, including advancements in spot ETFs (exchange-traded funds that enable cryptocurrency trading without the need for a digital wallet or direct fund possession), integration of artificial intelligence (AI) and asset tokenization. The company believes these measures will facilitate the creation of a sustainable and profitable ecosystem.

Binance...

Kyrgyzstan wants to eliminate the infamous traffic jams in Bishkek once and for all by moving the capital to another city. On Jan. 22, MP Bakytbek Maripov proposed this bold decision. As he explained to his fellow MPs during a parliament meeting, this move is necessary to free Bishkek, the current capital city of Kyrgyzstan, from heavy smog and terrible traffic.

He recalled the Asman project («asman» means «sky» in Kyrgyz), which is estimated at approximately $10 billion. President of Kyrgyzstan Sadyr Japarov spoke about the city of the future in 2021 right after he entered office. Two years later...

Kazakhstan’s electric vehicle (EV) market is experiencing rapid growth, with the number of EVs increasing by more than 60%, according to the Bureau of National Statistics.

As of Dec. 1, 2024, the total number of registered electric vehicles in the country, including cars, trucks and buses, reached 12,587, compared to 7,680 just a year earlier.

Passenger cars saw the most significant growth, rising from 7,383 to 12,119 units. The country also registered 338 electric trucks and 130 electric buses.

Almaty is leading in terms of the number of electric cars, boasting 7,309 registered units. The capital, Astana, follows with...

Kazakhstani ed-tech startup CodiPlay has secured $9 million in Series A funding. The investors include Christian Eichner, prominent business angel and senior executive vice president for strategy at Qatar National Bank, and the Global Capital investment fund, according to the company’s press release.

The funding will enable CodiPlay to expand into the markets of the UAE, Saudi Arabia and Qatar. Over the next two years, the company aims to integrate 3,000 schools from these countries into its ecosystem.

«We are grateful for the support provided by investors. Their backing has enabled us to grow rapidly and successfully...

The Atyrau airport in Kazakhstan has introduced an Open Skies regime, which is expected to increase competition among airlines and potentially lower ticket prices for residents of the region, the Ak Zhaik newspaper reported.

Kairat Nurtayev, deputy akim (governor) of the Atyrau region, said the regime will have a positive impact on the airport’s development and the regional economy. Subsequently, the number of domestic and international flights is expected to increase, including new direct routes to Western Europe, the Middle East and Asia.

The construction of a 16,500-square-meter terminal facility is scheduled for this year. The project envisions equipping the...

A court in Satpayev, a city in Kazakhstan’s Ulytau region, has sentenced a Kazakhstani citizen to four years and six months in prison for participating in the war between Russia and Ukraine as a fighter for the Wagner private military company (PMC), according to the court’s press office.

Case materials reveal that in the fall of 2022, while in Zhezkazgan, the administrative center of the Ulytau region, the convict decided to join Wagner PMC. In November, he crossed the Kazakhstan border near Petropavlovsk and traveled to a training camp in Russia’s Krasnodar region, where he signed a contract. He was...

During the Prada show organized within Milan Men’s Fashion Week, a 19-year-old model from Kazakhstan, Ali Daniyarov, walked the catwalk.  

While The New York Times discusses the tight pants comeback on Prada’s runway, Instagram fashion fans are admiring Ali Daniyarov, a 19-year-old fashion model from Almaty. The Kazakhstani model walked the catwalk wearing a brown jacket and leather pants. His image was complemented by a tender-blue shirt, cowboy boots tucked into pants and a bag — one of the most up-to-date coloristic and texture combinations of this year.

However, this is not Ali’s first time on a major fashion...

Kazakhstan’s Ministry of Finance wants to place government stocks (GS) worth approximately $13.20 billion on the stock market. This is a 32.7% increase over the 2023 plan (approximately $9.94 billion) and a 23.2% increase over the funds raised in 2024 (approximately $10.71 billion), according to the agency’s website.

According to the plan, the ministry is going to conduct 55 emissions, part of which will be an additional placement within those previously delivered. The maturity terms of the GSs range between one and 15 years. Remarkably, for stock with a 10-year maturity, it is planned to raise about $956 million. Once...

Baring Funds sold nearly 963,000 shares of the fintech company Kaspi.kz in the fourth quarter of 2024, according to an extract from the register of shareholders of the Kazakhstan Stock Exchange (KASE) as of January 1, 2025.

It is unclear how much Baring Funds earned from selling its shares in Kaspi.kz. However, in Q4 of last year, the stock value ranged between 50,700 tenge ($96.97) and 58,000 tenge ($110.93). This suggests that Baring Funds may have earned between $93.3 million and $106.8 million.

As a result, Baring Funds’ stake in Kaspi.kz declined by 0.48 percentage points to 23.3%. The company...

As of Jan. 1, 2024, the volume of Stage 3 loans (non-performing loans or NPLs, as classified by International Financial Reporting Standards) in 11 Kazakhstani banks increased by over $700 million, reaching more than $5 billion, up by 9.8%. This finding was highlighted in the 2024 Asset Quality Review (AQR 2024) report by the Agency for Regulation and Development of the Financial Market (ARDFM).

The scope of the AQR 2024 assessment expanded by 31.3%, totaling approximately $60 billion. Approximately one-third of all debt is attributed to unsecured consumer loans (roughly $19 billion). Other significant contributors include loan portfolios for large...