News

The Freedom Holding Corp. Kazakhstan Manufacturing PMI® (Purchasing Managers’ Index™) remained above the 50.0 no-change mark again in January, the eleventh consecutive month in which this has been the case. That said, the reading was down from December’s survey record of 53.9 to 51.5, signaling a modest strengthening of business conditions which was the least pronounced since last April.

In early January the manufacturing industry reported an increase in new orders. Panelists reported the signing of new contracts amid improving demand.

The rise in new orders encouraged firms to expand production, although, in line with the headline index, the pace...

Kazakhstan’s recent proposal to ban the import of several satellite communication devices — including those from major manufacturers such as Thuraya, Iridium, Inmarsat and Starlink — has sparked widespread debate. Many commentators have spoken out against the proposal, prompting its initiators to backtrack.

The logic behind the proposed ban

On Dec. 6, 2024, Kazakhstan’s Ministry of Digital Development published a draft order on the Legalacts.egov.kz portal, proposing new regulations on the import of certain telecommunications equipment with control centers located outside the country.

The proposed regulation targets satellite phones and stations used for communication in remote areas by rescue teams...

Kazakhstan is not ready to ratify the Rome Statute of the International Criminal Court (ICC) in The Hague due to certain contradictions with the Constitution of Kazakhstan, according to the country’s Ministry of Foreign Affairs (MFA). This means that Kazakhstan will not arrest Russian President Vladimir Putin under the arrest warrant issued by the ICC.

This response followed the UN’s repeated recommendation for Kazakhstan to join the Rome Statute, with the first recommendation Kazakhstan received back in 2019.

«There are some legal issues that prevent our country from ratifying the Rome Statute of the International Criminal...

Kazakhstan’s Ministry of Energy has responded to Rosatom CEO Alexey Likhachev’s statement about the company’s role in nuclear power plant (NPP) construction in Kazakhstan. The agency said that neither a sole technology vendor nor a consortium has been arranged yet.

«The final decision on selecting a vendor or a consortium for the NPP project implementation has yet to be made. We plan to make this decision, taking into account Kazakhstan’s interests, international regulatory requirements and liabilities,» the ministry said in a statement.

In late January, Likhachev stated that the two countries were «heading toward...

CEO of Freedom Holding Corp. Timur Turlov believes that businesses shouldn’t fear the cost of artificial intelligence (AI) development. In the end, it doesn’t matter how much is spent on developing AI technology, as businesses can always generate more revenue once it is implemented, the businessman said at the Digital Almaty 2025 forum.

Timur Turlov emphasized that the key value of technology is not how much is invested in it but how it is applied in practice.

«It doesn’t matter whether you spend tens or hundreds of millions on the first version of your AI. Once...

China’s diversified company Dalian Hesheng Holdings is considering a Kazakhstani partner for its project to build an industrial park for deep processing of up to 3 million tons of wheat in the Arshaly district of the Akmola region, according to the national company Kazakh Invest.

«The project will be financed primarily through the investors’ own capital, while the possibility of involving Kazakhstani partners for additional funding is also being explored,» Kazakh Invest said in response to Kursiv.media’s inquiry.

The project will be implemented in the Aqmola industrial zone, located in the Arshaly district of the...

Russian Prime Minister Mikhail Mishustin claimed that Kyrgyzstani officials are allegedly pressuring Russian businesses for no reason. He made this statement during a meeting with his Kyrgyzstani counterpart, as reported by the Interfax news agency. Russia has also submitted a diplomatic note to Kyrgyzstan’s Ministry of Foreign Affairs (MFA).

According to Mishustin, Kyrgyzstani civil servants are making baseless claims against «respectable» and «good-faith» Russian companies operating in Kyrgyzstan.

He demanded the protection of the rights and interests of Russian investors and an end to pressure they face. Mishustin added that «evidence of illegal and even extortive actions has been outlined...

According to Kazakhstan Prime Minister Olzhas Bektenov, the use of artificial intelligence (AI) may significantly increase network load and even have negative ecological consequences.

«I’d like to draw attention to some aspects of AI that raise justified concerns among many people. I’m talking about AI’s influence on the labor market and the need to retrain our specialists; ethical issues of using AI, including manipulation of public opinion and other risks; environmental consequences and the load on the power grid; providing equal access to AI for different countries and social groups, as well as mechanisms for controlling...

CEO of Freedom Holding Corp. Timur Turlov announced in his blog on Threads that Freedom Bank Kazakhstan is set to launch a retail digital bank in Tajikistan as early as this spring.

He has also assessed the potential of the country’s banking sector with $2 billion in assets. According to Turlov, non-cash transactions in Tajikistan account for just 20%, while banking services remain quite expensive in the country.

He also emphasized that the holding has already hired specialists who will work on the digital bank project in Tajikistan. In response to users’ comments, Turlov stated that the first payment cards...

According to Kazakhstan’s Ministry of Agriculture, the country is set to expand its meat exports to Europe via Russian territory, as Moscow prepares to lift the ban it imposed three years ago. At the time, Russian authorities cited concerns over Kazakhstan’s failure to meet veterinary standards.

Deputy Minister of Agriculture Azat Sultanov emphasized that Russia and Kazakhstan have reached an agreement to partially lift restrictions on Kazakhstani meat and meat product imports into Russia.

«We closely cooperate with Russia in regard to agricultural product supplies. Currently, we are working on lifting bilateral import restrictions, as this...

Since 2001, Washington has allocated $2.07 billion in assistance to Kazakhstan, according to the U.S. Department of State. The bulk of this funding was provided through the U.S. Agency for International Development (USAID).

Data on U.S. government aid to various countries, including Kazakhstan, from 2001 to 2024 is available on the ForeignAssistance.gov website.

Over the past 23 years, Kazakhstan has received a total of $2.07 billion in U.S. aid. The highest allocation came in 2010, with $331.2 million, while the lowest funding was during the COVID-19 pandemic in 2021, at just $14.6 million.

The breakdown of U.S. aid to...

The first batch of approximately 6,000 tons of oil from Kazakhstan’s Kashagan field has been delivered to Baku and entered the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, according to Azerbaijan’s state oil company SOCAR.

SOCAR reported that this shipment of Kazakh oil was loaded onto the Taraz tanker, owned by Kazakhstan’s national maritime carrier Kazmortransflot (KMTF), at the port of Aktau on Jan. 25. The tanker arrived at the Baku terminal on Jan. 27. According to KMTF, Taraz has a deadweight capacity (the total weight including cargo, fuel and water reserves) of 6,980 tons.

KMG Kashagan B.V., a subsidiary of Kazakhstan’s national...

Patriarch Kirill has called on Russian MPs to curb the capabilities of artificial intelligence (AI), describing it as more destructive than nuclear energy. Nevertheless, he believes Russia needs its own sovereign AI system.

The patriarch also warned MPs that at the end of days, humankind will see the Antichrist, who will gain power with public support.

«We have no clue what role AI will play in this apocalyptic picture. We shouldn’t reject scientific achievements or AI capabilities, but we must keep them under strict public and government control in Russia,» Kirill emphasized.

He urged MPs...

Kazakhstan’s Central Securities Depository (KCSD) has updated its list of statutory authorities for registering financial instrument transactions and information operations, according to a regulation published on the website of Kazakhstan’s Agency for Regulation and Development of the Financial Market (ARDFM). The amended list now includes applications for conducting operations and other documents submitted through various information systems such as Bloomberg and Reuters.

Documents issued by the stock exchange or a clearing organization operating within the Astana International Financial Centre, as well as those from authorized foreign organizations or clearing entities authorized to operate in a foreign jurisdiction, will also be...

According to statistics from the National Bank of Kazakhstan, in 2024, Kazakhstani banks issued 6.8 million new payment cards, increasing the total number in circulation from 74.5 million at the start of the year to 81.3 million by early 2025. This marks a 9.1% growth rate for 2024, down from 14.5% in 2023 and 9.78% in 2022.

In December 2024, the number of non-cash transactions rose 12.2% year-on-year (YoY) to 1.6 billion, while their total value grew 19.7% YoY to $33.5 billion. More than 80% of these transactions were made via mobile banking, with 19% processed through payment terminals.

In...

Kazakhstan and Russia are «heading toward joint resolutions» on constructing a nuclear power plant (NPP) in Kazakhstan, as reported by the Interfax-Kazakhstan news agency, citing Rosatom CEO Alexey Likhachev. 

«Based on what the heads of our cabinets [Olzhas Bektenov and Mikhail Mishustin] discussed, I think it is safe to say that we are heading toward joint resolutions,» Likhachev said, commenting on Rosatom’s potential participation in Kazakhstan’s NPP project.

He highlighted that both parties have already been «actively working and cooperating.» Likhachev also noted that Kazakhstan has strong expertise in nuclear technologies and is a leading...

Kazakhstan will pause programs implemented in partnership with the U.S. Agency for International Development (USAID) for three months due to an executive order recently signed by President Donald Trump. However, the U.S. Embassy in Kazakhstan has not yet disclosed which specific projects will be affected.

On Jan. 20, President Trump issued an executive order temporarily suspending all U.S. development aid programs to foreign countries for 90 days. During this period, the new administration will assess whether such aid aligns with U.S. policy objectives.

On Jan. 26, the U.S. Department of State confirmed the suspension of USAID funding.

When asked by...

According to statistics published by the National Bank, foreign direct investment (FDI) inflows plummeted 30-fold, from $2.3 billion to $72.9 million over the first nine months of 2024. Kazakh Invest, a national company dedicated to assisting foreign investors in Kazakhstan, has described this anti-record as a temporary event, driven by objective economic reasons and cyclical factors.    

«Decline in FDI inflows is not related to inefficiencies in investment policy but rather to objective economic factors, including commodity market volatility and investors’ decisions. Taking into account the mining sector’s high share in the FDI structure, these processes...

Despite recent remarks from President Kassym-Jomart Tokayev suggesting that previous guidelines no longer work due to currency depreciation and rising inflation, Kazakhstan’s National Bank will remain independent from the cabinet. Deputy Chairman of the National Bank Berik Sholpankulov reaffirmed this stance during a briefing in the Senate, the upper house of Kazakhstan’s parliament.

«Tackling inflation is a joint, extensive effort between the government and the National Bank. It is not a unilateral effort. Most likely, the comprehensive plan adopted by both parties to curb inflation will be adjusted to reflect the president’s latest directives,» Sholpankulov stated.

Astana’s Nur Alem sphere, the legacy of EXPO 2017, is set to host the Alem.AI artificial intelligence center, according to the Informburo.kz news portal, citing QazExpoCongress.

QazExpoCongress, the national company managing EXPO facilities in Astana, has confirmed plans for the upcoming renovation. Currently, the dismantling of exhibits from the Future Energy Museum, housed within the sphere, is underway. However, no structural changes to the building are planned.

The Alem.AI international artificial intelligence center, a project previously approved by President Kassym-Jomart Tokayev, is expected to open on the premises. The EXPO site covers 25 hectares and consists of 15 facilities.

On Jan. 29, Kazakhstan-based fintech company Kaspi.kz announced it had finalized a deal to acquire a 65.41% stake in Turkish marketplace Hepsiburada worth $1.1 billion.

Kaspi.kz bought 40 million class A shares and 173.2 million class B shares of D-Market Electronic Services & Trading (Hepsiburada) under an agreement signed on Oct. 17, 2024.

The deal was approved by Turkish regulators. Its total value reached $1.127 billion, of which $600 million was paid in cash upon closing. The remaining $526.9 million will be transferred in cash no later than six months after the deal’s conclusion. Both companies will keep...

A passenger aircraft of the Russian airline Pobeda, flying from Dubai to Moscow, sent a Mayday call while flying over the Caspian Sea. Later, Mash.ru reported that the plane had made an emergency landing in Astrakhan.

According to FlightRadar24, the aircraft descended in altitude after sending out a Mayday call but continued flying along the route. The air carrier has confirmed the incident and is investigating its cause.

After the aircraft safely landed at Astrakhan Airport, some media outlets reported that the mayday call might have been sent because of a false fire alarm on board. This data is preliminary...

A Kazakhstani company has been supplying Belarus with hydrochloric acid — a critical material used in microchip production, which in turn is utilized in Russian weaponry — according to a recent report from the Belarusian Investigative Center (BIC), an independent media outlet.

«In 2021, hydrochloric acid with a purity of 99.999% was supplied to Integral (the Belarusian state-owned company) by the German company UrSeCo Handels GmbH & Co. KG. But a new delivery scheme emerged in 2022, when sanctions banned the chemical from entering Russia. The supplies passed through Poland and Turkey to Kazakhstan before reaching Belarus...

The Ministry of National Economy of Kazakhstan plans to raise VAT from the current 12% to up to 20%, according to Minister Serik Zhumangarin. Speaking at a press briefing following a cabinet meeting, he acknowledged that the increase would impact prices but assured that the government is taking measures to mitigate its effects.

«We have not yet decided whether the new VAT rate will be 16% or 20%. Naturally, this will have consequences. Our calculations indicate that the increase will add an average 4% cost burden per entity, which will inevitably be passed on to consumers...