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Kazakhstan’s government is exploring the use of the digital tenge to improve transparency in spending on energy and utility sector projects, according to a statement from the cabinet.

«Prime Minister Olzhas Bektenov chaired a meeting to discuss the implementation of the President’s directive to modernize the country’s housing and utilities sector. The plans aim to reduce the wear and tear on critical infrastructure: in heat supply from 53% to 40%, in electricity supply from 62% to 45%, in water supply from 39% to 34% and in water disposal from 54% to 40%. By 2029, 6.8 trillion...

In November 2024, Bloomberg columnist Javier Blas referred to Kazakhstan as an «internal foe» of OPEC+ for consistently exceeding its oil production quotas throughout 2024. The nation’s budget heavily relies on oil revenues, leading many experts to argue that adhering to the OPEC+ agreement is financially disadvantageous for Kazakhstan.

Struggles with OPEC+ compliance

In November 2024, Kazakhstan increased its daily oil production (excluding gas condensate) by 16% compared to October, the only month in 2024 when the country significantly reduced its output. By Nov. 24, oil production had reached 1.498 million barrels per day (mmbpd), exceeding its OPEC+ quota of...

President Kassym-Jomart Tokayev met with Energy Minister of Kazakhstan Almasadam Satkaliyev, instructing him to ensure that the utility system functions smoothly during the heating season and to take all necessary measures to accelerate the construction of a nuclear power plant (NPP), as reported by the president’s press service.

«The president debriefed the minister’s report on the key results of the ministry’s work during the year and its plans for the further development of the fuel and energy complex in Kazakhstan. The minister also provided a summary of the implementation of large projects in the oil, gas...

From January to November, Kazakhstani companies slightly increased their fixed capital investments (FSI) by 3.1% year-on-year, up from 1.9% during the first nine months. However, investments from companies’ own funds have been gradually declining, according to analysts from Halyk Finance, who view this trend as negative.

Moreover, Halyk Finance believes the recent acceleration in fixed capital investments is insufficient, as it lags behind last year’s growth of 14.6%. This decline is likely due to a 23.3% drop in investments in the mining sector, compared to a 1.4% increase last year, along with decreases in trade (-17%) and agriculture (-9.3%).

Meanwhile...

YouTube traffic in Russia has dropped to just 20% of its usual rate, leading IT experts to conclude that the platform has effectively been blocked, even though no official announcement has been made.

«YouTube traffic continues to decline. Google’s monitoring service now reports a traffic score of 8.5 from the Russian Federation, down from 40 points before the ‘slowdown.’ This indicates that traffic is currently at only 20% of its normal level. This is not mere throttling but a real blocking. We can confirm: YouTube is effectively blocked in Russia,» IT expert Mikhail Klimarev stated.

Kazakhstan’s National Security Committee (Rus. KNB) reported on the trial of two men who participated in terrorist organizations in Syria. Their return to Kazakhstan was facilitated by the KNB’s collaboration with international partners.

The trials of the two men, who were involved with terrorist organizations in Syria between 2020 and 2022, have concluded. The criminal investigations were conducted by the KNB.

«In close collaboration with foreign partners, our operatives identified the suspects abroad, brought them back to Kazakhstan and placed them under arrest. One of the individuals, a resident of the Turkestan region, was found guilty...

Cargo from China to Uzbekistan will soon bypass Kazakhstan, traveling instead through Kyrgyzstan. The construction of a new railroad connecting China, Kyrgyzstan and Uzbekistan is scheduled to begin on Dec. 27, according to Kyrgyz President Sadyr Japarov, who made the announcement during the third People’s Kurultai (Assembly) in Bishkek.

«The China-Kyrgyzstan-Uzbekistan railroad project, which remained only a concept for decades, is finally becoming a reality. When we initiated this project, many doubted it and even mocked it, calling it a fairy tale. Now, it is clear to everyone that this is no fairy tale but a...

The U.S. government has warned American citizens against traveling to Belarus. Those who are already in the country have been advised to leave as soon as possible. According to the U.S. State Department, there is a high risk of potential protests in Belarus.

«Do not travel to Belarus due to the Belarusian authorities’ arbitrary enforcement of local laws, the risk of detention, the continued facilitation of Russia’s war against Ukraine, the potential for civil unrest, and the Embassy’s limited ability to assist U.S. citizens residing in or traveling to Belarus. U.S. citizens in Belarus should depart...

According to Minister of Transportation Marat Karabayev, Kazakhstan needs a single company responsible for the supply of jet fuel to airports and other market participants throughout the country.

«The supply of jet fuel is one of the most crucial issues for us. Currently, Kazakhstani airports are compelled to acquire jet fuel from neighboring countries. To resolve the problem of shortages of fuel, we are proposing the establishment of a single company responsible for the task. This would allow us to remove ineffective mediators, stabilize fuel supply, and offer our prices on jet fuel for flights going...

In the third quarter (Q3) of 2024, the assets of Kazakhstan’s banking conglomerates rose by 4.7% quarter-on-quarter (QoQ), reaching 48.2 trillion tenge (approximately $92 billion), according to the Agency for Regulation and Development of the Financial Market (ARDFM).

As of Oct. 1, the largest banking groups by assets were:

Collectively, these three banking giants hold $59 billion in...

A farm in Kasymbek Datka village, located in the Turkestan region of Kazakhstan, is celebrating its second banana harvest this year. But how is it possible to grow tropical fruit in Kazakhstan? Kursiv.media decided to find out.

The small village, home to around 4,000 residents, had rarely attracted media attention until 2023, when GenGroup Qazaqstan invested $3.7 million to establish a banana farm. Located 25 kilometers from Shymkent, the agricultural complex spans five hectares and provides jobs for 15 local residents.

This December, farm workers are gathering their second banana harvest of the year. Preliminary estimates suggest the farm will...

Aktau will be developed following the models of Baku and Dubai. As part of this initiative, the site plan has been revised to include the construction of a 10,000-seat stadium, a maritime passenger terminal, new beaches and an architectural structure called Musical Dombra. These plans were announced by Nurdaulet Kilybai, governor of the Mangystau region, during a press conference at the Central Communications Service in Astana.

The region will receive $317 million in investments to implement 14 major projects as part of its tourism development plan through 2027.

The number of domestic and international routes operated by Aktau Airport is...

Kazakhstan is set to launch a new venture capital fund of funds to attract $1 billion in investments. The government believes this initiative will provide access to crucial technologies to help transform the economy.

«Our main goal is to create conditions that retain local talent and attract new expertise, support startups at all stages of their development and bring global competencies to Kazakhstan,» said Prime Minister Olzhas Bektenov.

The new fund will be the first of its kind to invest in venture capital funds. Previously, only a few venture capital funds were established in Kazakhstan...

A groundbreaking ceremony marking the construction of a school financed by Kazakhstan was held in the Gaziantep province of Turkey, a region that heavily suffered from the 2023 earthquakes, as reported by Kazakhstan’s Agency for International Development (KazAID).

«On Dec. 19, 2024, a groundbreaking ceremony was held in the town of Nurdagi, in the Gaziantep province of the Republic of Turkey, marking the start of construction of a school initiated by President of the Republic of Kazakhstan Kassym-Jomart Tokayev. Preparatory work for excavation and mobilization of construction resources has also been completed,» the agency said in...

The Astana trading platform ITS aims to expand its daily trading volume to $100 million or $3 billion per month next year. In November, the platform reported a trading volume of $66 million.

«In October, we reported a trading volume slightly less than $40 million and $66 million in November. Our moderately optimistic goal is to reach $100 million per month by December. In fact, we are targeting $100 million per day in 2025. These goals are ambitious indeed but still achievable. We are connecting new players from various jurisdictions and launching new products. We also...

During a meeting between Hou Qijun, president of China National Petroleum Corporation (CNPC) and Askhat Khassenov, chair of Kazakhstan’s national oil company KazMunayGas (KMG) in Beijing, the two sides reviewed a summary of the draft feasibility study for nitrogen-based fertilizer production. The project is expected to be completed by 2029 at an estimated cost of approximately $1.5 billion, with a planned annual capacity of 1 million tons.

Furthermore, KMG reported exploring new potential oil fields on the eastern side of the Pre-Caspian Depression in collaboration with China Southern Petroleum Exploration and Development Corporation (CNODC), a subsidiary of CNPC.

During the...

Kazakhstan has no intention of legalizing soft drugs, unlike neighboring Kyrgyzstan. The country’s Ministry of Internal Affairs remains focused on combating drug-related crimes and will not reconsider its position on marijuana, according to Sanzhar Adilov, deputy minister of internal affairs.

During a briefing at the Senate, the upper house of Kazakhstan’s parliament, journalists asked Adilov if the ministry might reconsider its stance on drug policy following Kyrgyzstan’s recent legalization of soft drugs and Kazakhstan’s easing of penalties for drug-related offenses. Adilov firmly asserted that this issue is not currently under consideration.

«We are not exploring changes...

The Port of Klaipeda in Lithuania, one of the largest ports in the Baltic region, has experienced a decline in cargo volumes due to sanctions imposed on Russia and Belarus. In response to these developments, the port is seeking to attract more shipments from Central Asian countries, according to Algis Latakas, the port manager. Latakas made these remarks during a meeting of the Lithuanian parliamentary committee on economy, as reported by the Interfax-Kazakhstan news agency.

«We are working to attract more cargo from this region of Asia — Kazakhstan, Turkmenistan, Uzbekistan and Azerbaijan — to the...

According to Kazakhstan’s Bureau of National Statistics, the country’s imports from Russia have been growing. The agency reported $14.3 billion in imports over the period from January to October 2024, marking a 5.2% year-on-year increase from $13.6 billion.

Kazakhstan imports the following commodities from Russia:

All commodity groups have seen an increase in imports, except for machinery and equipment.

The deadline for finalizing the agreement on the Employment Permit System (EPS) program, which would allow Kazakhstani citizens to work legally in South Korea, has been delayed. Kazakhstan’s Deputy Foreign Minister Alibek Bakayev expressed doubts about completing the process by the end of 2024, as previously pledged by Minister of Labor Svetlana Zhakupova.

«The agreement will be signed soon. South Korean authorities are regularly inquiring not only with the Ministry of Labor but also with other state agencies. They must provide responses based on which South Korea will draft the text of the agreement and shape...

According to Kazakhstan’s Vice-Minister of Digital Development Malik Olzhabekov, Russia and Kazakhstan are negotiating the extension of Proton-M expendable launch vehicle (ELV) launches, which are powered by toxic fuel, from the Baikonur Cosmodrome. The official noted that Russia still possesses 10 such ELVs, which it is supposed to launch by the end of 2026 but is very likely to fail to do so. Some earlier media reports suggested that launches of this type of rocket might not proceed after 2025. 

«Let me be honest — there are 10 Proton-M vehicles remaining. At the current launch rate...

The 14-year legal dispute between Kazakhstan and Moldovan businessmen Anatolie and Gabriel Stati has officially concluded. The parties reached a confidential agreement that resolves all outstanding issues between them, ensuring they cannot be reopened, according to the country’s Ministry of Justice.

«The Government of the Republic of Kazakhstan, the National Bank of the Republic of Kazakhstan, and the Stati parties, with the support and approval of leading Tristan Oil creditors, have successfully completed the process of resolving a long-running dispute over oil and gas assets in Kazakhstan,» the ministry stated in a press release.

The...

The Vietnamese Sovico Group, expected to finalize the deal to acquire Kazakhstani Qazaq Air, will also be offered the opportunity to take two airports in Turkestan and Kyzylorda under trust management for several years, according to Kazakhstan’s Vice-Minister of Transport Maksat Kaliakparov.

«As you already know, we have a major anchor investor — Sovico. It plans to enhance Qazaq Air’s fleet with 20 new aircraft they are going to transport from Vietnam. We have offered them to take over the trust management of two airports, located in the towns of Turkestan and Kyzylorda. The issue of...

The city of Almaty plans to borrow approximately $1 billion from international institutions to expand its metro system. This will involve extending the existing line to the Barlyk market and constructing a new line to connect the subway to the airport, according to Mayor Yerbolat Dosaev, who spoke to the media at the Central Communication Service.

«A preliminary confirmed loan of $1 billion is in place. We are negotiating with various creditors, including well-known international institutions such as the International Finance Corporation, Eximbank [a Chinese state-owned bank focused on large public projects], the European Bank for...