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The Senate, the upper house of the Kazakhstani parliament, has extended a contract between Russia and Kazakhstan on the transit of Russian oil to China through the territory of Kazakhstan. Over the period from 2024 to 2033, the country is expected to earn $1.7 billion.

In December 2013, the governments of Kazakhstan and Russia signed an agreement regulating oil transit to China. From 2014 to 2023, Russia exported 7 million tons of oil to China via this route.

In February 2023, Russian Rosneft and Chinese CNPC signed an agreement on the export of 100 million tons of Russian oil to...

According to the U.S. Office of Foreign Asset Control (OFAC), it has added GDK Baimskaya to its Specially Designated Nationals and Blocked Persons List (SDN) list. This means that no U.S. residents can cooperate with the company, while all its banking accounts in the U.S. should be blocked.  

GDK Baimskaya is controlled by Trianon Limited, a private company registered at the Astana International Financial Center and belonging to Vladimir Kim (890th place in the global Forbes list with a fortune of $3.6 billion or 1st place with $4.6 billion, according to Forbes Kazakhstan) and Oleg Novachuk (ranked 13th in the local rating with a fortune...

President Kassym-Jomart Tokayev has instructed General Prosecutor Berik Assylov to continue the search for assets illegally withdrawn from Kazakhstan and reclaim them, according to the Akorda.

During a meeting with Tokayev on April 30, Assylov told the president that the General Prosecutor’s Office has been using artificial intelligence to reclaim illegally withdrawn assets and search for criminals.

For instance, the agency is testing a smart analytical platform for searching and tracking illegally withdrawn assets. In addition, law enforcement officials detained 605 people who were on the wanted list. All of this happened with the help of different tools, including information systems.

In 2023, the gross regional product in Almaty grew by 10%, reaching $56.1 billion, a record-high number over the past ten years, according to the city’s administration. As a result, the city’s share in the national GDP has risen to 20.6%.

The rapid economic development of Almaty has let the city downgrade the unemployment rate from 5% in 2022 to 4.8% in 2023. Small and medium-sized businesses provide jobs to 949,000 people (90%). In 2023, these businesses issued products worth $47.3 billion, which is a 15.8% increase over 2022.

Last year, the number of active businesses reached 340,000 (+16.2%). Since...

According to the press service of Kazakhstan’s cabinet, Kazakhstan will cooperate with Afghanistan to explore its soil for useful minerals. The two countries have already agreed to establish a joint technical committee to implement a set of geological projects in Afghanistan.

«At the initial stage, the Afghani side is expected to give over its maps of all promising natural deposits and corresponding scientific data to Kazakhstan,» the press service said in a statement.

A wide range of issues related to geological exploration and production of useful minerals was discussed by Vice Prime Minister of Kazakhstan Serik Zhumangarin

According to Deputy Chairman of the Financial Monitoring Agency (FMA) Ulan Raisov, the task of proving that illegal money withdrawal was an intentional move is a very hard task as law enforcement agencies have only 15 days to check on a suspicious transaction and get a conclusion from the National Bank and the State Revenue Committee.

As the official noted, the country is countering the illegal withdrawal of assets through internal compliance in banks, a special division that analyzes financial operations. If specialists in these divisions think that a transaction is suspicious, they report it directly to the FMA.

Kazakhstanis will gain access to internet services from OneWeb this year, according to the Ministry of Digital Development, Innovations and Aerospace Industry.

«OneWeb is working on a gateway for its non-Geo communication network at the Kokterek Center of Space Communication. The service is expected to be ready for commercial use this year,» the ministry said in a statement.

Kazakhstan considers OneWeb an effective solution for eliminating digital inequality as the country plans to connect 328 remote villages to the internet.

The Digital Ministry and OneWeb signed a memorandum of understanding in 2021. Under this arrangement, the two sides...

According to Minister of Industry and Construction Kanat Sharlapayev, the metallurgical industry in Kazakhstan rose by 4.3% in the first quarter of 2024. The ministry is now expecting that companies such as Qarmet, KSP Steel, Shymkent Temir, Ferrum Vtor, Kazferrostal and Forever Flourishing (Middle Asia) Pty LTD will support the industry’s further growth.

The combined amount of products produced by steel companies is expected to grow from 3.9 million tons to 4 million tons, flat-rolled products from 2.5 million to 2.6 million tons and cast iron from 2.9 million to 3 million (by Qarmet).

The agency predicts an increase in...

According to Reuters, Russia has warned Kazakhstan about a possible suspension of its oil transit to Germany. The Ministry of Energy of Kazakhstan has dismissed this information.

On April 25, the Reuters news agency reported from its sources that Transneft, the Russian pipeline company, notified Kazakhstani authorities about its intention to suspend Kazakhstani oil transit to Germany starting from June due to delays in payment by PERN, the national pipeline company in Poland. 

«KazTransOil and KazMunayGas are nervous,» said one of the news agency’s sources familiar with the matter.

However, the Ministry of Energy of Kazakhstan has...

The Ministry of Energy of Kazakhstan in conjunction with QazaqGaz, the national gas company in Kazakhstan, has prepared a forecast balance of gas until 2030. According to this plan, gas production this year is expected to reach 60.5 billion cubic meters of gas, which is a 2.4% increase over last year (59.1 billion cubic meters), according to the Ministry of Energy.

In 2023, the Tengiz oil and gas field produced 16 billion cubic meters of gas (27.1%), Karachaganak – 22 billion cubic meters (37.3%), Kashagan – 11.8 billion cubic meters (20%) and other gas fields – 8.8 billion cubic meters...

In the first quarter of 2024, Kazakhstanis bought 18,900 gold bars of 816 kilograms in weight, twice as much as the same period last year (9,500 bars of 255 kilograms in weight).

The record price surge for gold over the past several months is one of the key drivers of the demand for gold bars. Today, one gram of gold costs 33,200 tenge ($75.03), compared to 30,300 tenge ($68.48) in January.

However, the current price isn’t the highest. On April 18, for instance, one gram of gold cost 34,500 tenge ($77.97), a 14% increase since the beginning of the year...

According to Air Astana, Managing Director of FlyArystan Adrian Hamilton-Manns has decided to leave the company and return to South Africa to spend more time with his family.

To ensure executive staff changes are smooth, Hamilton-Manns will stay in FlyArystan until the end of May. Meanwhile, Richard Ledger is going to serve as the acting head of the airline.

From 2009 to 2017, Ledger served as Sales Director at Air Astana; from 2017 to 2022, he was the vice president for marketing and sales at the company. As Air Astana reported, Ledger’s expertise helped the company boost its revenue by...

The U.K. and Kazakhstan have signed a strategic partnership and cooperation agreement. This happened during a meeting between Foreign Minister of Kazakhstan Murat Nurtleu and Secretary of State for Foreign, Commonwealth and Development Affairs of the U.K. David Cameron, who visited Kazakhstan as part of his trip to Central Asia.

The U.K. is the biggest trading and investment partner of Kazakhstan, the Kazinform news agency reported, citing Nurtleu.

«Today, we have signed a strategic partnership and cooperation agreement between Kazakhstan and the U.K., bringing our relations to a new level. I do not doubt that this historically important and unique...

Kazakhstan is going to cut as much public expenditures as possible to save money for dealing with the massive floods. President Kassym-Jomart Tokayev has already promised to introduce a cost-saving regime for public expenditures, reassuring those affected by the floods that authorities will reimburse all the damage.

Tokayev spoke on the topic during the 33rd session of the Assembly of the People of Kazakhstan called «Unity. Creation. Progress.» As the president reported, the restoration of residential houses and infrastructure in areas affected by the floods has already begun.

«Prominent entrepreneurs and public figures have also supported this work...

The Astana International Exchange (AIX) has joined the Tabadul hub for interbourse trading between AIX and the Abu Dhabi Securities Exchange (ADX) that created the hub. Thanks to these arrangements, Kazakhstani investors will be able to buy stocks from Arab countries and vice versa. Freedom Finance Global has been chosen broker for Tabadul.

ADX launched Tabadul in July 2022 as the first digital service designed to facilitate mutual access to the market in the region. Bahrain Bourse and Muscat Securities Market from Oman have already cooperated with the digital hub, while BHM Capital from Dubai has become a trading member...

The South Korean automobile giant plans to launch production of auto parts in Kazakhstan. The idea of establishing such a production has been discussed by President Kassym-Jomart Tokayev and Kia Motors CEO Song Ho-Sung during their meeting in Astana.

«Mr. Song Ho-Sung told the president what the company is doing to improve its supply chains. For instance, the car company has signed a memorandum of intent with Seyong EHWA (a global auto part supplier for Kia), which is going to launch auto part manufacturing in Kazakhstan,» the president’s press service reported in a statement.

In August 2023, Kia transferred part...

Russian producer of construction materials Technonikol has launched the construction of a $124.5 million manufacturing site in Kazakhstan. The new plant in the Saran industrial zone 20 kilometers from the city of Karaganda is expected to produce stone wool and will enter into operation in April 2026, according to a statement by the company.

This is going to be the third Technonikol manufacturing site in Kazakhstan as the company is already building its two isolation material manufacturing facilities in the Almaty region.

«The opening of the third plant in Kazakhstan is the next stage of our business development...

According to Kommersant, the Russian retail network VkusVill plans to open a store in Almaty, its first store abroad. While the food retailer is investing tens of millions of rubles in the new store, experts are skeptical about the idea and warn that the network should navigate some difficulties it may face in Kazakhstan.

VkusVill has been exporting its products to 125 stores in Kazakhstan since summer 2023. The retailer relies on this scheme in many countries, like the UAE and China.

As VkusVill representatives told Kommersant, the company noticed great interest in the company’s concept and product in Kazakhstan...

According to Alexey Varochko, director general of the Khrunichev’s Center Russia producing the Proton missiles, Russia has suggested continuing launches of Proton from Kazakhstan after 2025. Russia should stop launching Proton from Kazakhstan’s territory in two years to meet bilateral arrangements reached earlier.

«Khrunichev’s Center and the Roskosmos State Corporation have prepared and sent their proposal to our Kazakhstani counterparts. Currently, we are looking for a way to address the issue. This process is also going within the Intergovernmental Commission on the Baikonur complex,» Varochko said.

According to the Russian official, there are ten extra Proton-M carrier...

The Committee for Construction, Housing and Communal Services under the Ministry of Industry and Construction of Kazakhstan has approved new mandatory standards for electric vehicles. The document was published on the agency’s website.

According to the new rules, chargers for electric vehicles should be a compulsory part of communal infrastructure in every settlement in Kazakhstan.

Authorities suggest placing these chargers at gas stations, technical service stations, parking lots, near roadside facilities and in residential, public, business and industrial areas.

In addition, at least 5% of any parking lot should be reserved for electric vehicles and equipped with a charger. These...

According to Vice Minister of Transport Satzhan Ablaliev, Kazakhstan has effectively reduced the period of transportation and delivery of goods from China to Europe by almost a week. Last year, cargo transit on the same route took about 45 days, the Ministry of Transport reported on its website.

The official also reported that a Joint Committee for Transportation Development will be created to increase the speed and quality of transit transportation. The country’s parliament is already going to review and ratify a corresponding agreement between Kazakhstan and Turkey on international combined transport of goods. According to Ablaliev, the project aims...

Eurasian Resources Group (ERG) has signed an agreement with the Canadian Electra Battery Materials Corporation to supply its Toronto plant with cobalt hydroxide which Electra is going to use as material for cobalt sulfate production, a key element for electric vehicle batteries.

The start of the supply of 3,000 tons of cobalt to the Electra plant is scheduled for 2026. Under the three-year contract, ERG will supply cobalt from its ERG Metalkol manufacturing site in the Democratic Republic of the Congo.

As of today, Congo accounts for about 75% of global cobalt production. Most of this raw material is processed...

According to the Argus pricing agency, Uzbekistan has been purchasing Russian oil with a much more significant discount per barrel than Kazakhstani oil.

«Our data shows that Kazakhstan has been supplying its oil to Uzbekistan with a discount of $8 to $9 per barrel out of the North Sea Dated price. At the same time, Russian oil goes to Uzbekistan with a discount of $11 to $12 per barrel,» the agency reported.

In the first quarter of 2024, Russian Gazprom Neft shipped 75,000 tons of oil through the pipeline system of KazTransOil (a subsidiary of KazMunayGas), which...

According to Prime Minister of Kazakhstan Olzhas Bektenov, the country’s GDP will grow by 1.2% by 2030 thanks to a polyethylene project by KazMunayGas, Russian SIBUR and Chinese SINOPEC, which has officially joined the project recently.

«The top priority for our economy is high value-added and export-oriented production. The price gap between ethane, the raw material, and polyethylene, the third-stage final product, is 20 times from $80-90 to $1,600-1,800 per ton thanks to the value-added we will create. The Polyethylene project will certainly boost the development of both the manufacturing industry in Kazakhstan and the country’s economy as...