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Forbes Kazakhstan has published its annual rating of the 50 richest businessmen in Kazakhstan. Even though all participants of the ranking except for Vladimir Kim and Bulat Utemuratov reported an increase in wealth, their combined fortune dropped by $1.4 billion.

The total wealth of Kazakhstani businessmen decreased from $25.3 billion to $23.9 billion due to Forbes’s decision to count Mikhail Lomtadze as a Georgian businessman (Lomtadze possesses Georgian nationality), even though he’s made his $3.8 billion fortune in Kazakhstan.

The average age for Kazakhstani billionaires is 53. The youngest mogul is Timur Turlov, who is 35. The oldest is Yakov...

On May 9, 2023, Victory Day in many post-Soviet countries, the U.S. Consul General Caroline Savage together with Marines from the U.S. Consulate laid flowers to the eternal light in Almaty in honor of Kazakhstan’s veterans and those who had fallen during WWII, according to the press service of the consulate.

American diplomats expressed their deepest respect to those who made Victory Day possible.

«May this day serve as a reminder of our aspiration for a sustainable world,» the consulate said in a statement.

Caroline Savage has been working in the U.S. State Department since...

The government of Kazakhstan has handed over shares of a company managing the special economic zone called the Khorgos International Center for Border Cooperation to the administration of the Jetisu region.

«In accordance with the legislation of the Republic of Kazakhstan, 100% of shares of the company managing the Khorgos for International Center for Border Cooperation controlled by the cabinet must be handed over to the administration of the Jetisu region,» the cabinet said in a statement.

Prime Minister Alikhan Smailov has ordered the Committee of State Property and Privatization under the Ministry of Finance...

As the DW broadcaster reported, the new package of European sanctions may hit Kazakhstan. This follows from a statement made by President of the European Commission Ursula von der Leyen while on an official visit to Kyiv.

According to von der Leyen, the new 11th package of sanctions is going to include three core elements.

The first part of the sanctions is going to expand the list of goods prohibited from exporting to Russia through third-party states. The EU also wants to create new tools to prevent third-party states from breaching these sanctions.

“If we see...

AIFC Green Finance Center is going to expand trade with carbon units on its platform.

«The development of the Kazakhstani carbon market and creation of a platform for trade with carbon units is going to be a new direction for GFC. This is a very important project because the European Carbon Border Adjustment Mechanism will enter into force in 2026. According to the U.N. Conference on Trade and Development, Kazakhstan is going to lose $352 million each year if the price of carbon per ton reaches $88,» the center said in a statement.

Officials in...

The European Union is discussing a new mechanism of sanctions against Central Asian states that Russia may use to surpass international sanctions, according to Bloomberg.

Some unidentified sources say that the E.U. wants to crack down on all those trading channels the Kremlin relies on. If this doesn’t work, Brussels will unleash its second option and target key products.

«This mechanism is also aimed at expanding the scope of some export control measures and banning many goods from transit through Russia,» the outlet’s sources reported.

This eleventh package of sanctions the E.U. is working on...

Kazakhstan Railway is going to ban oil exports to the Russian port of Taman on the Black Sea starting from May 8, according to Reuters, citing the company and oil traders.

The railway company hasn’t revealed a reason behind this decision. So far the sea terminal continues to process oil products and liquefied petroleum gas (LPG).

On May 3, 2023, Russian Railways also restricted oil exports toward Taman. The move followed an official notification by the Russian authorities about a fire at a fuel deposit near the Crimean Bridge. That night, two drones attacked the oil base in the Temruksky...

The Ministry of Defense of Kazakhstan considers all the country’s neighbors as friends, according to Sultan Kamaletdinov, deputy head of the ministry.

When journalists in Astana asked if Kazakhstan’s army can defend the country against external threats and if there is any risk of invasion, Kamaletdinov responded that Kazakhstan conducts multi-vector foreign policy and has good relations with all countries of the world, including its neighbors.

«We have no border issues with our neighbors. We consider each of them as a friend and a good neighbor,» he highlighted.

Journalists also asked him to evaluate how...

Prime Minister Alikhan Smailov met with Serkan Kaptan, CEO of TAV Airports Holding, to discuss the new terminal at the Almaty International Airport.

«Almaty International Airport is one of the most important projects for us. It is located in the heart of Central Asia and plays an important role for both the city and the entire country. This is why we are going to proceed with its development. We hope that the new terminal will start operating next year,» Kaptan said during the meeting with Smailov.

In turn, the prime minister underlined that the new...

According to the Ministry of Trade and Integration, Kazakhstan’s government has raised its requirements for football fields covered with either natural grass or artificial turf to make them meet FIFA standards.

«All requirements to football fields covered with natural grass and artificial turf in Kazakhstan must be equal to standards by the International Federation of Football Associations (FIFA), which is the biggest international governing body in the world of football,» the ministry said in a statement.

According to new national standards for soccer fields with a natural or artificial surface, any football field covered with...

The National Security Committee (KNB) has prevented a terror attack in the country’s regions. This statement was made by Yermek Sagimbayev, head of the agency during his meeting with President Kassym-Jomart Tokayev.

According to Sagimbayev, KNB officers have prevented several terrorist acts including a terror attack with an improvised explosive device in a crowded place, although he hasn’t revealed where the attack would have occurred. The official reported that 19 people have been detained over these cases.

In several cases, the agency stopped the activity of foreign intelligence services, he reported to the president. Pre-trial investigation of these cases is...

Wanlin Group Limited, a Chinese food company, is planning to invest $30 million to build a vegetable dehydration plant in the Jambyl region. On the other hand, Turkish company Arbel has already built a bean processing factory in the Kostanay region. It is going to start operation in May. According to the Ministry of Agriculture of Kazakhstan, at the first stage, the company invested $8.5 million in the project.

Wanlin Group Limited is a well-known company in the sphere of production and distribution of dehydrated vegetables, which are popular ingredients in a wide range of food products and drinks. According...

The Central Election Commission (CEC) of Uzbekistan has announced the preliminary results of the referendum on amendments to the national constitution. The authorities said that 90.21% of those who took part in the referendum have said yes to amendments and 9.35% said no.

More than 16.6 million Uzbekistanis out of 19.7 million people eligible for the referendum have come to voting stations in absolute figures (84.54%), the CEC reported.

According to Bakhrom Kuchkarov, deputy head of the commission, although there might have been some areas for improvement, there were no significant violations that would have had an impact on the...

Almaty Mayor Yerbolat Dossayev has examined the process of implementation of an automated early earthquake warning system, which is going to be deployed this year.

The large-scale project is supposed to consist of 28 seismic stations. Eleven of them are already ready to enter into service, while 17 more are expected to be constructed in 2023.

«The early earthquake warning system is going to be synchronized this month with the Darmen mobile app designed to keep people informed about potential risks of quakes, storms, etc.,» the mayor’s office said in a statement.

In addition, Dossayev...

As of April 1, 2023, the combined assets of 21 commercial banks in Kazakhstan grew by 2.2% and reached $100.5 billion. According to the Agency for Regulation and Development of the Financial Market (ARDFM) in Kazakhstan, a 2.7% increase ($1.1 billion) in liquid assets is the key driver of this growth.

Since January 1, 2023, the banking sector’s assets have grown by 1% or $1.1 billion. As of April 1, these highly liquid assets accounted for a third of all assets ($29.7 billion). Thanks to these assets the banks can meet their liabilities. As of April 1, their liabilities grew...

President Kassym-Jomart Tokayev of Kazakhstan welcomed the top two contenders for the title of world chess champion, Ding Liren and Ian Nepomniachtchi. The president has highly appreciated the level of organization of the most prestigious tournament of the International Chess Federation (FIDE).

«The tournament got attention from all over the world. Chess lovers monitored closely the course of the competition. I think that it was a successful tournament,» Tokayev said.

He congratulated Ding Liren on the victory and expressed his respect to Nepomniachtchi for the skills he demonstrated.

President Tokayev said that chess is going to have a bright future...

Two prominent chess grandmasters Ian Nepomniachtchi from Russia and Ding Liren from China have shown unprecedented will to win the title of World Chess Champion 2023 in Astana, Kazakhstan. They fought for three weeks in a set of games that ended in a tie. In their final tiebreak match, the grandmaster from China won. He is now the 17th world chess champion, the first champion of that kind from China.

There is one move from tragedy to satisfaction

Fourteen matches of classic chess and three matches in rapid games weren’t enough to reveal the winner, even though Nepomniachtchi and...

Chinese grandmaster Ding Liren has been pronounced the 17th world chess champion in Astana after a tiebreak, the Kazakhstan Chess Federation (KCF) reported. According to experts, the rapid chess match was very intense.

«The first three match games ended in a tie. In the fourth one, Ding showed that he was quite serious about his intention to win and fought back, although he didn’t start out so well. As a result, the match finished with a score of 9.5:8.5. Congratulations to the winner!» the KCF said in a statement.

Om April 27, the final 13th...

The Asian Development Bank (ADB) has initiated the development of a feasibility study to identify coal power stations and thermal power plants in Kazakhstan that might be switched off before their end-of-life. It also revealed a possible timeframe for such a study.

«The feasibility study for Indonesia, Vietnam and the Philippines was conducted during the period from February 2021 to December 2021. In Pakistan, a similar study started in October 2022 and is expected to be over in July this year. In Kazakhstan we are expecting to get the final results of the preliminary feasibility study...

A recently published report by the International Monetary Fund (IMF) suggested that Kazakhstan’s GDP may show a 4.9% increase in 2024. In January, IMF’s outlook for the next year was 4.4%.

Concerning the current year, IMF predicted the country’s GDP growth at the same rate of 4.3% in both January and April reports.

On the other hand, the April report forecasts an unemployment rate of 4.8% in 2023 and 2024. There was no such data in the January report by the IMF.

In 2022, the country’s government reported a 3.1% increase in GDP. In January 2023, Kazakhstan’s economy grew by...

The Financial Monitoring Agency (FMA) of the Republic of Kazakhstan has been investigating 17 criminal cases linked with Chia Tai Tianqing, a Ponzi scheme company established by a citizen of China. His two criminal associates are currently in custody, according to the agency.

«A Chinese national is allegedly a key figure behind this Ponzi scheme. He’s already left the country,» the FMA said in a statement.

A fake company collected money from people under the pretext of investments in a pharmaceutical factory, nutrition supplements and other health products production.

Even though Chia Tai Tianqing had...

Serik Kudebayev, the former head of the Police Department of the Almaty region has been sentenced to ten years in jail.

He was accused of leaving the building of the Police Department during the January unrest, although he was supposed to stay and lead the police personnel. At the time, Kudebayev left Taldykorgan and hid in a rural area in the Almaty region.

At the initial stage, the Office of the Prosecutor General accused Kudebayev of failure to use the authority that caused severe damage to many people. However, during the trial, prosecutors blamed him for abuse of power and...

South Korean automobile giant Hyundai is planning to sell its factory in Saint Petersburg to an undisclosed company from Kazakhstan, the Russian news agency Interfax reported, citing Korean TV channel MBC.

While covering the news, the TV channel showed a building with the Astana Motors logo on it. However, there was no direct indication of who is going to buy the asset, although MBC said that the two sides have reached the final stage of negotiations.

Astana Motors denied that it is planning to buy the factory. The company highlighted that it has been focusing on the development of its...

As Prosecutor General Berik Asylov told Kursiv, former police general Serik Kudebayev has been extradited from Turkey to Kazakhstan. He is currently in custody.

«Kudebayev is accused of abuse of power and torture of protesters in January 2022,» the agency said in a statement.

Earlier this month Kudebayev didn’t show up in court and instead left the country.

Over the period from 2020 to February 2022, he served as head of the Department of Police of the Almaty region. In April 2022, he was accused of abuse of power and discharged from the office. The pre-trial investigation against Kudebayev started...