News

The sale of Mobile Telecom Service, which operates the Tele2 and Altel brands, to Qatar-based Power International Holding is set to be completed by the end of 2024, according to the Agency for Protection and Development of Competition (APDC).

«As part of the agreement between the government of the Republic of Kazakhstan and the government of the State of Qatar on establishing a long-term strategic partnership for Power International Holding’s acquisition of Mobile Telecom Service LLP, we intend to finalize the sale of the telecom operator to the Qatari investor by the end of the year...

According to Education Minister of Mongolia P. Naranbayar, students in the country’s schools will learn English as the main foreign language starting from the beginning of the upcoming school season.

During a meeting devoted to curriculums for pre-school and primary education, he announced that Mongolian students will start learning English from Sept. 1 of the year.

«English has already been assigned as the main foreign language in our schools. The best way to learn a foreign language is to be in an environment where you don’t feel that you’re learning it, while repetition is the most...

Turkish Tiryaki Holding will acquire 250,000 tons of grain from Kazakhstan. The arrangement was reached during a visit of the Kazakhstani delegation led by the Minister of Agriculture Aidarbek Saparov to Turkey, the ministry’s press service reported.

Meanwhile, Tiryaki Holding is building a plant for deep grain processing in Astana. In November 2023, Kazakhstani authorities claimed that the facility would be the first production site in the CIS capable of producing 30,000 tons of glucose, 45,000 tons of fructose, 22,000 tons of fibrin, and 110,000 tons of starch per year. The final products are expected to be exported to Canada...

Sergei Tsirulnikov, a Kazakhstani record breaker, wowed the judges with his performance on America’s Got Talent. «Kazakh Batyr,» a nickname Sergei got at home, put the audience and judges in awe with his incredible power. He shared the moment on Facebook.

Tsirulnikov delivered a five-minute performance, unveiling his unique skills. These include blowing up and popping heating pads, bending horseshoes and nails and even trailing the bus with teeth and a 180-ton train with bare shoulders.

He shared his impressions on social media and announced that the judges had advanced him to the next stage with unanimous approval.

U.S. Ambassador to Kazakhstan Daniel Rosenblum and USAID have transferred state-of-the-art server machines to the State Revenue Committee (SRC) under Kazakhstan’s Ministry of Finance to improve the country’s customs infrastructure, the U.S. Embassy in Kazakhstan said in a statement on its website.  

“USAID is supplying advanced servers made by Dell Inc. of the United States to support the SRC’s new customs “Keden” IT system which replaces the outdated “Astana-1″ system. The new Keden system will reduce clearance times and enhance data security by leveraging automation, machine learning and artificial intelligence,” the embassy stated.

Rosenblum...

Kazakhstan is contemplating issuing new bonds in dollars this October. The government plans to sell around $1.5 billion worth of bonds, marking the first such issuance since 2015, according to Bloomberg sources.

The details of the bond issue will depend on market conditions and the bonds may be denominated in euros. The country’s government last issued Eurobonds in 2019. Prior to that, in 2018, the Ministry of Finance placed a 10-year bond issue in euros, the first in a European currency after two decades of favoring the dollar. This shift was influenced by the European Central Bank’s more favorable monetary...

Kazakhstan’s Agip Caspian Sea, a subsidiary of the Italian Eni, has started supplying oil to Germany via the Druzhba pipeline, which stretches through Russia, the Russian Vedomosti newspaper reported. In June, the company delivered 20,000 tons of oil to Germany, becoming the third Kazakhstani company to transport oil to Europe by this route. In turn, the Ministry of Energy of Kazakhstan said that these shipments would continue if the project proved to be economically viable.

«In June 2024, Agip Caspian Sea delivered 20,000 tons of oil in a test mode via the Atyrau-Samara and the Druzhba...

Tatler Magazine is entering the markets of Kazakhstan, Azerbaijan, Uzbekistan and Turkey under a license issued to Kazakhstan. The corresponding arrangement was reached between Tatler Asia, one of the leading media platforms in the world, and Turlov Private Holding Ltd., a company run by Timur Turlov. The first issue of Tatler Kazakhstan will be published in December 2024.

Established in 1709 in England, Tatler is one of the oldest magazine brands on the planet. Tatler Asia was founded in 1977 and is present in nine Asian markets—Hong Kong, Singapore, Malaysia, the Philippines, Thailand, Macau, mainland China, Taiwan and Vietnam—developing innovative...

According to Almas Kudaibergen, the chairman of the Association of Oil Service Companies of Kazakhstan, more than 80,000 skilled professionals are going to lose their jobs because of layoffs at the Tengiz oil field in 2022-2024.

«Losing people is not what we’d like to do. We are talking about 200,000 people – oil industry workers and their families. Our solution is to search for new projects. We thought of Russia first, since a lot of Kazakhstani enterprises are present there, but unfortunately, the war has put a lot of projects on pause. Another direction is...

Companies from the U.S., Germany, Italy, South Africa and South Korea plan to localize the manufacturing of oil and gas equipment in Kazakhstan. According to Yerlan Akkenzhenov, vice minister of energy, potential partners include LESER, a German valve manufacturer; Beruseal, a South African provider of leak sealing solutions, and John Crane, a U.S. manufacturer of industrial equipment.

The projects under consideration are expected to create dozens of jobs and attract $3 million in investments. Additional localization projects are set to be launched over the next three years with companies such as Hi Air Korea, a manufacturer of air conditioning and...

A new locomotive assembly factory worth $97.9 million is set to be built in Atbasar, according to the Akmola region’s administration.

The project is being implemented by the Kamkor Locomotive private enterprise in conjunction with regional authorities. According to data available on eGov.kz, the founder of Kamkor Locomotive is Kazakhstan Transport Technologies LLC, controlled by Vector of Technological Solutions LLC and Diskus Company, both registered in Russia. Vector of Technological Solutions LLC, based in Moscow, is managed by Alexei Lebedev. Diskus Company, located in Novosibirsk, is managed by Alexei Dzhulai.

A feasibility study for the plant is expected to be...

Even though the regulator softened its monetary policy cutting the base rate to 14.5% in late May, while inflation slowed to 8.4% in June, returns on Kazakhstani government securities (GS) rose by 1.5% to 2% in the second quarter of 2024 compared to the first quarter of the year. According to the National Bank’s Macro & Market Overview for international investors, this increase was largely driven by the need to finance the budget deficit and strong market participation in GS auctions.  

Demand for these securities exceeded supply by 180%, with investors showing the most interest in medium-term bonds, although...

Four new entities joined the Kazenergy association of oil and gas companies in July and August 2024, bringing the total number of members to 68. These new members represent key sectors of Kazakhstan’s economy, including hydrocarbon extraction, energy and geological engineering, according to a Kazenergy press release.

Among the new members is Kazakhoil Aktobe, a joint venture of KazMunayGas (KMG) and Caspian Investments Resources Ltd, owned by China’s Sinopec. Kazakhoil Aktobe is involved in hydrocarbon production at the Alibekmola and Kozhasai deposits in the Aktobe region. Another new member, KMG Engineering, specializes in developing geological and geophysical databases, as well...

The Ministry of Energy has drafted an order proposing an increase in marginal electricity rates for several generating companies. The draft order has been posted on the regulatory legal acts portal, signaling potential changes ahead. This follows a previous rate increase in January.

Currently, all power companies are divided into 55 groups. Notable entities among them are Ekibastuz GRES-1 and GRES-2, Eurasian Energy Corporation (a part of ERG), power plant operators in Pavlodar, Ust-Kamenogorsk, Ridder, Atyrau, Crystal Management (owned by Timur Kulibayev’s Joint Resources) and the Shulba Hydropower Plant. The Ministry plans to add five more groups to the existing...

According to the press office of the Ministry of Agriculture of the Republic of Kazakhstan, eight Turkish companies expressed a willingness to invest in the agricultural business of Kazakhstan.

Turkish investors are interested in projects for leguminous crops and cattle hide processing, ice cream production, and agricultural machinery manufacturing.

Businessmen from Turkey occupied in the leguminous plant processing sector intend to produce the goods with high added value — amino acids, including lysine and gluten.

Ice cream producers are looking forward to exporting their products to Russia and China. The Minister of Agriculture, Aidarbek Saparov, informed the investors that...

Kazakhstan’s arbitration claims against the North Caspian Operating Company N.V. (NCOC), the international consortium operating the Kashagan oil field, have increased to $160 billion, according to a report by Bloomberg.

The claims, which recently rose from $150 billion to $160 billion, stem from the Kazakh government’s discovery of alleged corruption in certain deals related to Kashagan. The compensation amount could climb even higher, the news agency reported, citing its sources.

In April 2023, Bloomberg reported that Kazakhstan had initially filed a $13 billion lawsuit against NCOC, later raising the demand to $15 billion. The allegations centered on multinational companies allegedly...

FlyArystan CEO Richard Ledger came to Uralsk to meet Zhazira Musina, the mother of a 12-year-old girl who wasn’t allowed onboard and left alone in the Astana airport.

«The CEO visited Uralsk to apologize and meet in person Zhazira Musina, the mother of Zere Galiyeva, who was left alone at the Astana airport during the KC 7367 flight boarding on July 21, 2024,» the Telegram post says.

Richard Ledger gifted the certificates for free flights across Kazakhstan operated by FlyArystan until the end of 2024 to Zere Galiyeva, her sister, Zaura, and their mother.

The...

The Civil Aviation Committee of the Republic of Kazakhstan has fined FlyArystan, a low-cost subsidiary of the national air carrier AirAstana, approximately $7,700 for violating passengers’ rights on a delayed Almaty-Astana flight.

According to the Committee, the air carrier did not provide the passengers of the delayed flight with the legally required services. Thus, the passengers were provided with neither accommodation nor transfer to the hotel and back to the airport. As a result, an administrative offense report was filed under Part 2, Article 567 of The Civil Code on Administrative Offenses of the Republic of Kazakhstan with a fine...

OnlineKazFinance, a microfinance organization (MFO) operating under the Solva brand, has raised $5 million in the first tranche from the global investment fund BlueOrchard. The company will lend these funds to small and medium-sized businesses throughout Kazakhstan.

Before issuing the loan, BlueOrchard conducted due diligence, confirming that Solva fully meets the investment fund’s standards.

Since 2016, more than 83,000 Kazakhstani entrepreneurs have used Solva’s services. Over the past four years, the company has issued business loans totaling $2 billion. Interestingly, more than 70% of the company’s clients are female entrepreneurs. As part of its client-oriented approach, the MFO has been...

Japan is ready to invest $200 million in Kazakhstan’s energy, infrastructure, machinery and food industries via the Japan Bank for International Cooperation (JBIC). The Development Bank of Kazakhstan (DBK), a subsidiary of Baiterek, has already signed a memorandum of understanding with the Japanese development institution, according to Kazakh Invest.

The document was signed by Marat Yelibayev, the CEO of DBK, and Hayashi Nobumitsu, the governor of JBIC, during the Central Asia + Japan business forum where 36 other documents related to bilateral cooperation were signed as well. The event organized by Kazakh Invest and the Japan Association for Trade with...

BASS Gold, a Kazakhstani mining company, has obtained a license for extractable resource exploration at eleven new geological blocks near the Ushshoky deposit, on which it has notified the Kazakhstan Stock Exchange (KASE).

The Ministry of Industry granted the license to BASS Gold in July 2024. The total area of the new site is 25.1 km², with estimated gold reserves of 2 to 4 tons. The relevant confirmation will be provided in a report prepared in accordance with KAZRC (Kazakhstan Code for Public Reporting for Solid Mineral Reserves) and JORC (International Code for Reporting of Exploration Results, Mineral Resources and...

Kazakhstani banks purchased 1.7 billion euros in the over-the-counter market in July, a 98% increase over June, according to the statistics published by the National Bank of Kazakhstan.

The majority of deals, 98.4%, were transactions between Kazakhstani banks, with only €37.1 million of the transactions involving foreign parties.

The banks purchased €17.5 million, which is 63.3% less than in May. June’s indicator turned out to be the smallest this year, while July’s, on the contrary, was the biggest by solid margins.

A drastic increase of yuan purchasing transactions could be noticed. The banks bought 3.9 billion yuan in July...

According to the Bureau of National Statistics, green energy generation increased by 31.1% to 6.6 billion kWh in 2023, accounting for 12.7% of all energy produced if output from major hydropower plants is taken into account or 5.8% hydro power excluded.

Wind turbine-generated energy production showed the most significant increase by 63.3% year-on-year, reaching 3.7 million kWh. Moreover, small-scale hydropower plants reported a 16% increase in output to 949.1 million kWh, compared to the previous year.

On the other hand, solar energy production decreased by 1.5% to 1.9 billion kWh compared to 2022, although it remains the largest segment within...

Russia will not ask the Collective Security Treaty Organization (CSTO) for help regarding the unexpected incursion of Ukrainian military forces into the Kursk region of Russia, according to Gazeta.ru, citing Konstantin Zatulin, first deputy chairman of the State Duma Committee on CIS Affairs, Eurasian Integration and Relations with Compatriots.

«No, we won’t request military assistance. It would be very strange if Russia, the key country in the CSTO, asked someone for help within its own territory. Who are you going to ask for help in the Kursk region? The Kazakhs or the Armenians? Who? Your questions...