News

Serik Tolbassy on the first sale of REIT TSPG preferred shares

The launch of the REIT TSPG real estate investment fund in May 2024 marked a significant milestone for Kazakhstan’s commercial real estate market, opening new opportunities for investors. The fund boasts a high-quality portfolio of properties and offers attractive investment returns. The fund’s anchor investor and entrepreneur, Serik Tolbassy, has put up for sale a portion of his preferred shares in the REIT TSPG Umbrella Fund, with a minimum transaction amount equivalent to $50,000. This significantly lowers the entry threshold for investors, as previously, participation in a real estate...

China’s AirNet Technology Inc. is considering establishing a Bitcoin mining farm in Kazakhstan, according to a notice published on the Nasdaq website.

The company has signed an investment letter of intent (LOI) with Kazakhstani STH Corp. for potential investment in a 130-megawatt (MW) mining farm project in Kazakhstan.

The project includes:

AirNet Technology highlighted that the LOI does not obligate either party to proceed with a deal. The company will...

European and international financial institutions are ready to invest €10 billion in developing the Trans-Caspian International Transport Route (TITR), according to Kaja Kallas, High Representative of the European Union for Foreign Affairs and Security Policy.

During a press conference in Ashgabat, Turkmenistan, she stated that the development of TITR is a major ongoing project, and many European and international financial institutions are prepared to invest more than €10 billion into it, as reported by Turkmenportal.com.

TITR is a key logistical corridor stretching from China to Europe via Kazakhstan, the Caspian Sea, Azerbaijan, Georgia and Turkey. Also known as the Middle...

At a recent meeting with Kazakhstan’s President Kassym-Jomart Tokayev in Almaty, Vice President of the European Commission Kaja Kallas announced that a process has begun to simplify the visa regime between Kazakhstan and European countries.

«Kallas announced the beginning of the procedure to conclude a visa facilitation agreement between the European Commission and Kazakhstan,» Akorda reported.

In response, Tokayev welcomed the development, emphasizing its significance for strengthening ties with Europe.

«Kazakhstan takes this news very positively, as this step opens up broad opportunities for strengthening interpersonal contacts and business ties with...

The men’s short program has concluded at the World Figure Skating Championships in Boston, with Kazakhstan’s Mikhail Shaidorov delivering a standout performance. Shaidorov, who has made a sensational breakthrough into the world’s elite this season, scored 94.77 points, placing third out of 39 competitors. He lost points due to a hand touch on the ice during his triple Axel, which prevented him from achieving a higher score.

Reigning world champion Ilia Malinin of the U.S. took the lead with 110.41 points, followed by Japan’s Yuma Kagiyama with 107.09. Shaidorov rounded out the top three.

The 20-year-old Kazakhstani athlete has been...

Kia, a popular South Korean automobile brand, may return to Russia thanks to Kazakhstan. Sorento and Sportage are expected to be the first models to re-enter the market. However, for this to happen, Russia must exempt Kazakhstan-assembled vehicles from the country’s disposal fee. Kazakh authorities have already made the corresponding request.

How Kazakhstan could help Kia return to Russia

A report on the implementation of the Ministry of Industry and Construction’s development plan for the 2023-2027 period, summarizing the results of 2024, includes a curious clause. Kazakhstan’s agency suggests that its Russian counterparts allocate quotas for Kazakhstan-manufactured cars, exempting them...

Uzbek President Shavkat Mirziyoyev signed into law a regulation introducing penalties for the financing of civil disorders, as reported by Gazeta.uz. The regulation was introduced based on the experience of “neighboring countries,” where organizers of such events were allegedly paid for their activities.

A sentence of 10 to 15 years in prison will be imposed for financing disorders involving devastation, arson and resistance to authorities in Uzbekistan. According to an explanatory note, this criminal rule is necessary “based on modern realities,” in which, in “neighboring countries,” civil disorders have, in several cases, been financed by third parties.

Furthermore, the document...

Russian President Vladimir Putin continues to challenge the legitimacy of Ukraine’s government, casting doubt on ongoing peace negotiations between the two countries. He has proposed placing Ukraine under interim governance overseen by the UN to conduct elections, going beyond just a presidential vote.

«External governance would allow elections to take place in Ukraine and bring to power a capable and trusted government of the people. With them, Russia could negotiate a peace treaty and sign documents that would be globally recognized, reliable and stable,» Putin said, according to Russia’s RBC news agency.

He claimed that...

Today, on March 27, the Senate, the upper house of Kazakhstan’s parliament, endorsed amendments to the law on physical culture and sports, banning the use of state funds to finance international athletes. Senators reviewed the document in two readings, with Senator Assem Rakhmetova noting that the draft legislation includes 11 new provisions.

Apart from restricting state financing for non-resident athletes of Kazakhstan, the law also establishes priority sports eligible for prioritized funding based on the results achieved by national teams at the Olympic, Paralympic, Deaflympic, Asian and Asian Para Games.

Following the meeting, reporters asked Kazakhstan’s Deputy Minister of Tourism...

Kazakhstan’s sports federations will be required to help prevent extremism and terrorism due to the spread of religious movements among athletes, according to Vice Minister of Tourism and Sports Serik Zharasbayev.

A provision addressing extremism and terrorism prevention was included in the new law on physical culture and sports, which was adopted by the Senate, the upper house of Kazakhstan’s parliament, on March 27. Speaking to reporters at the parliament, Zharasbayev said the measure is necessary because religious movements have begun to emerge within the sports community.

«This provision has been introduced to combat these factors...

Freedom Finance Global has been researching consumer confidence, inflation and devaluation expectations of Kazakhstan residents for the past twenty-eighth month. In February 2025, the Consumer Confidence Index (CCI) remained neutral at 93 points, marking the second consecutive time it reached the lowest value in the history of the research. Negative responses continue to outweigh positive ones. Optimism regarding economic forecasts has noticeably declined again. However, a slight recovery is observed in a couple of other components. Inflation estimates have been rising for the fourth month in a row amid accelerating official inflation and worsening export forecasts. Inflation expectations remained at...

On March 26, President Kassym-Jomart Tokayev hosted Liu Jianchao, head of the International Department of the Chinese Communist Party, at the Akorda Residence and expressed support for global initiatives proposed by Chinese President Xi Jinping.

“Kassym-Jomart Tokayev has expressed confidence that during the upcoming visit of the Chinese President to Astana to participate in the second China-Central Asia Summit in June, new horizons for strategic partnership will be outlined,” Akorda.kz reported.

On top of that, President Tokayev supported global initiatives proposed by Xi Jinping aimed at establishing a fair world order in accordance with the...

Ahmet Çalık, head of Turkey’s Çalık Holding, has expressed interest in mining nonferrous metals in Kazakhstan and entering the country’s gas market, according to Kazakhstan’s Ministry of Foreign Affairs. The ministry did not specify the forms of potential cooperation in the gas sector.

«Kazakhstan’s Deputy Prime Minister and Minister of Foreign Affairs Murat Nurtleu met with Ahmet Çalık, head of Çalık Holding. […] Çalık expressed interest in expanding the holding’s presence in Kazakhstan, including projects to mine nonferrous metals, build a plant to process legumes and oilseeds in the Kostanay region and participate in the gas...

Kazakhstan’s expanding power-generating capacity will meet the growing electricity demand from electric vehicle (EV) drivers, according to First Deputy Prime Minister Roman Sklyar. He made the statement in response to a recent parliamentary inquiry.

Kazakhstan is actively developing its EV charging infrastructure. Currently, 25 companies and 42 individual entrepreneurs provide charging services. There are 28 charging stations operating along state-maintained highways, with 20 more set to be added in 2025. According to the national infrastructure development plan, the total number of charging stations is expected to reach 78 by 2029.

Authorities are also working to attract private investment in EV...

Kazakhstan’s economy is becoming increasingly dependent on Russian goods. At the same time, domestic products struggle to compete, according to analysts from the Association of Financiers of Kazakhstan (AFK), who studied the two countries’ trade turnover in 2024.

Last year, Kazakhstan’s trade volume with Russia rose by 3% to $27.8 billion. Imports of Russian goods increased by 8%, while exports of Kazakhstani products to Russia fell by 6%.

Russian goods now account for nearly a third (31%) of Kazakhstan’s total imports. Over the past year, Kazakhstan has increased purchases from Russia, particularly in:

An important meeting took place in Astana between Korea Hydro & Nuclear Power (KHNP), a subsidiary of the Korea Electric Power Corporation and the operator of large nuclear and hydroelectric plants in South Korea and the newly established Nuclear Energy Agency (NEA) of Kazakhstan. The two sides discussed key prospects for a potential partnership, including nuclear energy development, personnel training, localization of production and the launch of joint initiatives. The talks were part of the bidding process to select a supplier of technologies for the construction of Kazakhstan’s first nuclear power plant (NPP).

According to Almassadam Satkaliyev, the head of...

The National Assembly of Armenia has passed a final resolution to join the European Union (EU), despite Prime Minister Nikol Pashinyan’s decision to improve relations with Russia. The resolution was adopted earlier today, on March 26, as reported by the RIA Novosti news agency.

«Sixty-four deputies voted in favor of the law, while seven voted against it. The resolution has been adopted,» the agency cited Alen Simonyan, president of the assembly.

The resolution declares the country’s intention to join the EU, promoting the move as the right path to Armenia’s prosperity.

Last week, Pashinyan decided...

Recent footage has surfaced of actor Jude Law portraying a young Vladimir Putin in «The Wizard of the Kremlin,» a film directed by Olivier Assayas.

News of the screen adaptation of Giuliano da Empoli’s novel of the same name first emerged in January 2025, sparking widespread debate on social media. Much of the controversy stemmed from the decision to cast Law, one of Hollywood’s most handsome actors, as Putin. The project has ignited discussions over whether Law’s portrayal of the Russian president might be biased, leading to comparisons between the actor and Putin.

The leaked footage, believed to be...

Kazakhstan’s National Bank Chair Timur Suleimenov responded to an inquiry from members of the Mazhilis, the lower house of Kazakhstan’s parliament, regarding banks’ reluctance to provide loans to Kazakh enterprises exporting to Russia.

In mid-February, Azat Peruashev, leader of the Ak Zhol political party, submitted a parliamentary inquiry to Suleimenov, stating that Kazakhstani machine-building enterprises were facing challenges in exporting their products to Russia. Banks refused to grant them loans and process payments, citing concerns related to the risk of secondary sanctions from the U.S. and the EU.

Suleimenov pledged to raise this issue at the next meeting with financial...

Kyrgyzstan’s government has reclaimed ownership of ElCat, a company formerly owned by Maxim Bakiyev, the son of ex-president Kurmanbek Bakiyev, according to the Kabar news agency, citing Dayirbek Orunbekov, a spokesman for the presidential administration. The company is valued at approximately $69 million.

«In 2007, former presidential office employees Zakirali Kenzhebaev, Sergey Shmelev, Konstantin Levinets and Mikhail Dudin made a deal with Maxim Bakiyev, which led to the presidential office being illegally removed from the company’s list of incorporators through court decisions. As a result, control of ElCat was transferred to Bakiyev’s associates. Since then, the...

Kazakhstan’s road operator QazAvtoJol reported installing inflatable rubber dams in the Kostanay region to prevent roads from flooding during the spring floods. The company cites their mobility and quick installation as the main advantages.

An inflatable rubber dam is a sealed pipe, 25 meters long and 1.5 meters high, made of durable, waterproof materials. Specialists say that this pipe can be filled with water or air and becomes extremely firm.

«A dam like this effectively controls the water flow, preventing it from spreading across the protected area. When the flood risk is gone, the water or...

The U.S. will lease a land plot in Kazakhstan for 49 years at a cost of $25.3 million to construct its Consulate General in Almaty, according to Akan Rakhmetullin, Kazakhstan’s vice minister of foreign affairs.

On March 26, the Mazhilis, the lower house of Kazakhstan’s parliament, reviewed a draft law granting the U.S. government a lease for the consular premises in Almaty.

«Following the 74th session of the UN General Assembly, the head of state instructed that the U.S. Consulate in Almaty be established. To implement this directive, an agreement was signed in New York on...

The Caspian Pipeline Consortium (CPC), which is the main export route for Kazakhstani oil (80%), has been included in the list of Russian and Ukrainian facilities that must not be targeted by mutual strikes, according to analyst Oleg Chervinskiy.

«The list was published on the Kremlin’s website late on March 25 and raised more questions than it answered. The second clause in the list of Russian and Ukrainian energy facilities covered by the temporary moratorium on strikes against the energy system includes ‘oil and gas pipelines and storage facilities, including pumping stations,’» Chervinskiy posted in his...

Prime Minister of Kazakhstan Olzhas Bektenov and Zhang Qihai, CEO of the Chinese company Xinjiang Lihua – one of China’s top 55 agricultural companies, specializing in the full cycle of cotton processing – discussed the creation of a large cotton and textile complex in the Turan Special Economic Zone in the Turkestan region. The full-cycle project, valued at more than $396 million, is expected to be a key driver of economic growth in the region.

The project involves the launch of an agro-industrial hub with a closed production cycle—ranging from growing cotton on 50,000 hectares to manufacturing finished products such...