News

The Business Activity Index (Freedom Holding Corp. PMI®, produced by S&P Global) reached 50.2 in February, down from 51.3 in the previous month, indicating that growth in activity was only fractional.

The index ranges between 0 and 100, with a reading above 50 indicating growth and below 50 signaling a decline.

Respondents noted that while improving demand, new project wins, and the introduction of new services boosted sales, these gains were partially offset by rising competition within the market.

Despite concerns over increasing competition, businesses continued to raise service charges in February. In fact, the rate of output charge inflation...

The Kremlin considers Minsk a perfect location for tripartite negotiations between the presidents of Russia, Ukraine and the U.S. Moscow has also given a «positive» assessment of President Zelenskyy’s statement indicating readiness for negotiations.

These remarks were made by Dmitry Peskov, the official spokesperson for the Russian president, in response to an initiative by Alexander Lukashenko, the president of Belarus, who proposed organizing peace negotiations between Donald Trump, Vladimir Putin and Volodymyr Zelenskyy in Minsk.

«This issue has never been brought up or discussed. Of course, Minsk is the best place for us. This is our...

The renowned Kazakh singer Dimash Qudaibergen will release his new song «Love’s Not Over Yet» in collaboration with two-time Grammy-winning songwriter and producer Walter Afanasieff. The song is scheduled to premiere on March 7, 2025.

Afanasieff is an acclaimed composer who has worked with some of the biggest names in the music industry. He has co-written and produced hit songs for legendary performers such as Whitney Houston, Barbra Streisand, Mariah Carey, Celine Dion, Lara Fabian, Ricky Martin, Leona Lewis and Savage Garden. Some of his most famous works include:

Kazakhmys Corporation, one of Kazakhstan’s leading mining companies, claims it wasn’t part of any talks related to the potential sale of natural deposits to either foreign or local investors.

“There are rumors circulating in the media and on social networks about alleged ongoing negotiations to sell eight mineral deposits to a foreign investor. This information is false. Kazakhmys Corporation is not involved in any talks to sell any deposits to foreign or other investors,” the company said in a statement.

Furthermore, Kazakhmys emphasized that the intentional dissemination of fake news is punishable under Kazakhstan’s legislation.

Eni, an Italian multinational energy company headquartered in Rome, has officially notified Kazakhstan of its decision to withdraw from the Isatay and Abay offshore projects in the Caspian Sea, as reported by PetroCouncil.

Previously, Isatay Operating Company LLC, jointly controlled by KazMunayGas (KMG) and Eni Isatay B.V., a subsidiary of Eni, on an equal basis, returned ownership of the Isatay field to the government. This decision followed geological exploration that deemed the oil and gas field commercially nonviable.

The two oil companies established their joint venture in 2017 to develop the promising, as many thought, Isatay and Abay fields in...

City Transportation Systems, the company managing public transportation in Astana, has showcased a completed light rail (LRT) station on Kabanbay Batyr Avenue, near Astana International Airport, as reported by Inform.kz.

The facade work on-site, including steel frame installation, paneling and leaded light cladding, has been completed. The station is also equipped with escalators, elevators and interactive display screens to ensure passenger comfort.

The entire Astana LRT infrastructure is expected to be completed between August and September this year, with the transport system set to launch in early 2026. It will feature 18 stations with two-level platforms, including 11 at ground...

Russian insurance company AlfaStrakhovanie has paid compensation for the Embraer 190 aircraft operated by Azerbaijan Airlines (AZAL) that crashed near Aktau on Dec. 25, 2024, and has begun paying compensation to its passengers, Minval.az reported, citing Ilya Kabachnik, the general director of aviation and space insurance at AlfaStrakhovanie.    

“We paid full compensation for the aircraft in February. The primary part of the risk was reinsured by the Russian National Reinsurance Company,” he said.

The exact amount of compensation has not been disclosed, although experts estimate it at between $25 million and $30 million.

The...

Kazakhstan will adhere to its OPEC+ obligations and plans to compensate for excess oil production ahead of schedule, according to Minister of Energy Almassadam Satkaliyev. He made the statement during a recent meeting with OPEC+ members.

«Kazakhstan will take further measures to comply with its obligations, including the submission of an updated and front-loaded compensation plan to account for its outstanding compensation volumes recorded since January 2024,» the Ministry of Energy said.

The agency added that Kazakhstan took all necessary steps last month to fulfill its commitments.

In early February 2025, media reports indicated

A new $1.3 billion fertilizer manufacturing plant will be built in Kazakhstan by ESTA Construction, according to the government’s press service.

After negotiations with ESTA Construction CEO Mustafa Toprak, Prime Minister Olzhas Bektenov instructed the cabinet to sign an investment agreement with the Turkish company within two weeks.

The plant will be built in the Mangystau region, near the port of Kuryk, to streamline the export of fertilizers across the Caspian Sea. The new facility will produce up to 700,000 tons of carbamide and 42,000 tons of ammonia per year. This will reduce Kazakhstan’s dependence on imported fertilizers and provide...

Currently, no banks in Kazakhstan are using the Bank of Russia’s System for Transfer of Financial Messages (SPFS), the Russian equivalent of the SWIFT financial transfer system, according to the National Bank of Kazakhstan.

Kazakhstan’s National Payment Corporation (NPC), a subsidiary of the National Bank responsible for interbank payments and money transfers, previously cooperated with SPFS. In the summer of 2024, the NPC was integrated with Russia’s SPFS through an intermediary bank messaging system (BMS). At that time, at least one Kazakhstani bank, Bereke Bank, was using SPFS.

The National Bank did not directly answer Kursiv.media’s inquiry about whether it...

President Vladimir Putin of Russia would never use nuclear weapons, according to Belarusian President Alexander Lukashenko. He made this statement in an interview with Mario Nawfal, the host of the largest show on X (formerly Twitter), as reported by the BeLTA news agency.

«Putin wasn’t in a situation where there was a need to push the nuclear button. I don’t think so. At least, he has never mentioned that he was ready for such radical measures. He wasn’t ready, I suppose. He was as ready to push the nuclear button as you were in the...

Starting March 20, Uzbekistan will restrict access to the Chinese marketplace Temu. The country’s officials have advised customers to stop ordering goods from the platform, cancel existing orders and request refunds, as reported by Gazeta.uz.

«The decision has been made in accordance with a resolution by the country’s cabinet, which requires that only Uzbek residents operate e-commerce platforms,» Gazeta.uz reported.

Uzbek officials are allegedly unhappy with international platforms violating the country’s legislation regulating e-commerce, retail, data privacy and consumer rights.

According to Gazeta.uz, new rules for international online platforms will take effect in Uzbekistan on...

Between March 3 and March 10, Uzbekistan will host the Week of Respect for Women, a nationwide initiative aimed at honoring and supporting women. During this period, women will receive free medical checkups and participate in workshops on cooking and sewing, according to the Gazeta.uz news portal.

In celebration of International Women’s Day, the country will award 331 women with the «Mutabar Ayol» («Honorable Woman») badge for their contributions to public life. Young women listed in the Women’s Notebook, a database of those in need of social support, will receive discounted or free access to museums, theaters, cinemas and concerts...

Multimillion-dollar spending on image-building forums pays off through investment flows to Kazakhstan, according to Arman Kassenov, deputy minister of national economy. He said such events are a crucial tool for attracting capital and promoting exports.

«Image-building events are not used exclusively by Kazakhstan but are a common practice worldwide. They promote exports and attract investment. Therefore, a reasonable number of such events is justified,» Kassenov said during a meeting of the country’s cabinet.

He highlighted that Kazakhstan receives around $20 billion in foreign investment annually and an average of $50 million daily. According to Kassenov...

The volume of trade in stocks and deposit receipts on the International Trading System (ITS) in Astana hit a historic high of $806 million in February, marking a 20.3% increase from $670 million in January, the platform said in a statement.

«The trade volume at ITS continues to grow as the number of investors joining the platform — following trends in the global stock market — also increases,» the ITS press service emphasized.

According to the platform, the surge in trade volume is driven by soaring demand for new instruments, particularly ETF shares. This demand...

The Kazakh-British Technical University (KBTU) has been returned to state control. The prestigious university was previously owned by the Nursultan Nazarbayev Educational Foundation (NNEF), which was established by Dinara Kulibayeva, the middle daughter of former president Nazarbayev, along with two other individuals.

As of Feb. 27, 2025, KBTU’s financial statements confirm that the university’s ownership was transferred to the Returned Asset Management Company (RAMC), a government-owned commercial entity.

Concurrently, NNEF has relinquished its shareholding in the university. Public records on the eGov.kz portal list Dinara Kulibayeva, Galina Samarskaya and Askar Nurpeisov as the three founders of the foundation.

KBTU was...

Kazakhstan’s Ministry of Internal Affairs and Ministry of Digital Development, Innovation and Aerospace Industry plan to launch a pilot project allowing Kazakhstani citizens to obtain identity cards and passports online.

«To launch a pilot project for providing a government service for online issuing of identification cards and passports as an alternative option to the existing procedure,» stated a draft law published on Legalacts.egov.kz.

According to the draft document, every action required for reissuing an expired ID can be completed via the eGov.kz website and mobile app.

«The project has been developed...

Kazakhstan’s Ministry of Energy needs more time to assess the feasibility of building an oil export pipeline along the Caspian seabed toward Azerbaijan, the agency told Kursiv.media. The project would also require coordination with other coastal states in the Caspian Sea.

«Given the expected increase in oil production in the medium term, and as part of the development of the Trans-Caspian International Transport Route, the ministry, along with the national company KazMunayGas (KMG) JSC and other stakeholders, is working to establish additional transportation routes. As for the potential construction of a new oil pipeline along the...

Kazakhstan and Azerbaijan have agreed to design and build a fiber-optic cable between the two countries on the Caspian Sea seabed. The arrangement was officially signed during a visit by Kazakhstan’s Prime Minister Olzhas Bektenov to Baku, Azerbaijan, as reported by Primeminister.kz   

«The project is of strategic importance for enhancing the quality and reliability of communications, as well as improving data transmission between Asia and Europe,» the press release stated.

The construction of the Trans-Caspian fiber-optic cable is expected to be completed in 2025. The project is being implemented by AzerTelecom and Kazakhtelecom, with...

Kazakhstan and China are strengthening their cooperation. The two sides plan to upgrade the Shymkent refinery. They have completed the first phase of modernization and intend to increase the refinery’s capacity to 12 million tons per year in the second phase.

To facilitate this process, the Ministry of Energy of Kazakhstan, KazMunayGas, PetroKazakhstan Oil Products and CNPC have agreed to sign a new agreement to begin expansion work.

Additionally, both sides plan to establish a joint venture to produce up to 1 million tons of carbamide per year to meet the needs of Kazakhstani farmers. The Chinese giant is expected...

Legendary Spanish tenor José Carreras will perform in Astana and Almaty in June 2025 as part of his farewell world tour.

Carreras made his first public performance at the age of eight and launched his professional career in 1970 at Gran Teatre del Liceu in Barcelona at the age of 24. He made his tenor debut in Norma, performing alongside the renowned soprano Montserrat Caballé.

Over the years, Carreras became one of the world’s most celebrated opera singers, earning acclaim for his interpretations of Giuseppe Verdi and Giacomo Puccini operas. He is also widely recognized for his role in The...

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 Freedom Broker’s review of prominent investment ideas for spring 2025.

In its survey, Freedom Broker also covered several Kazakhstani companies, whose stocks may show «quite a good performance.» These include KazMunayGas, which has a stake in the Tengiz field that is expected to significantly boost its production; Halyk Bank, with...

Starting March 3, offerings of securities with settlements in Chinese yuan are available on the Kazakhstan Stock Exchange (KASE), according to a statement from the exchange’s press office.

«New modes for securities offerings are implemented to provide additional opportunities for securities market participants to attract investors,» the release stated.

Securities can be placed through specialized trading, subscription and public offering. In late February 2025, Hong Kong-based fintech company AnchorX received approval to issue stablecoins, a type of cryptocurrency pegged to the yuan, in Kazakhstan.

Kazakhstan’s Energy Ministry is confident that Western sanctions against Russia will not target the Caspian Pipeline Consortium (CPC).

As the ministry told Kursiv.media, Kazakhstan has been negotiating with the U.S. Office of Foreign Assets Control (OFAC) since the beginning of the sanctions campaign to keep the CPC from coming under pressure. So far, the pipeline has not been affected and continues to have access to spare parts and equipment. This situation remained unchanged in the EU’s 16th sanctions package, the agency said.

For Kazakhstan, the CPC is the main export route for its oil and was designed for that purpose...