News

The Ministry of National Economy plans to prohibit the sale of apartments for cash, according to Serik Zhumangarin, the head of the agency, who announced this initiative on the Taldau Talks podcast.

«Currently, each residential building is registered as a separate LLC under the umbrella brand of a parent company. Additionally, apartments are sold through individual entrepreneurs. This is why we plan to address the issue within the Tax Code. Any company that constructs residential buildings must sell apartments under a B2C (business-to-consumer) model using cashless payments,» Zhumangarin stated.

The minister emphasized that the government...

István Tiborcz, the son-in-law of Hungarian Prime Minister Viktor Orbán and one of the country’s wealthiest individuals, is reportedly considering purchasing a Russian subsidiary of Austria’s Raiffeisen Bank International (RBI), according to the Der Standard newspaper. RBI nominally holds a 13.1% stake in the Kazakhstan Stock Exchange (KASE).

According to Forbes Hungary, Tiborcz has an estimated fortune of €370 million and ranks 15th among Hungary’s wealthiest people. He is married to Viktor Orbán’s daughter Ráhel Orbán.

Sources cited by Der Standard indicate that Tiborcz is engaged in negotiations with RBI, involving representatives from the Russian Central Bank and the administration...

Analysts at Kazakhstan’s National Bank have confirmed a stable relationship between money supply and inflation. According to their study, an increase in money supply leads to a rise in prices, with the effect becoming stronger in the long run.

According to the analysts, the impact of money supply on inflation has once again become relevant after the COVID-19 pandemic, as extensive measures to support global economies led to rapid price acceleration. The study revealed that a direct relationship between an increase in money supply and inflation exists in many countries, including Kazakhstan.

According to experts’ calculations, a 10% rise in...

The European Union (EU) has approved the 16th package of anti-Russian sanctions, coinciding with the third anniversary of Russia’s invasion of Ukraine. The new list of sanctioned entities includes several companies from Kazakhstan, as they allegedly support «Russia’s military-industrial complex.»

In addition, the EU has added 53 new entities to the list of those directly supporting Russia’s military-industrial complex in its war of aggression against Ukraine.

«A third of these entities are Russian, while the others are located in third countries (including China, Hong Kong, India, Kazakhstan, Singapore, Türkiye, the United Arab Emirates and Uzbekistan...

Foreigners’ funds will not be frozen after their payment cards expire in Kazakhstan, Inbusiness.kz reported, citing Kazakhstan’s Agency for Regulation and Development of the Financial Market (ARDFM).

The ARDFM previously limited the payment card validity period for foreigners to one year, with the change not applying to the already issued cards.   

«This amendment will not affect non-residents’ access to their funds, as bank accounts linked to bank cards remain operational after the cards expire. Banks notify clients of the expiration date in advance and allow them to manage their funds via their bank accounts,» the...

After the war in Ukraine broke out, the U.S. and the European Union began imposing sanctions on Kazakhstani companies suspected of shipping dual-use goods to Russia. Kursiv.media investigated the fate of 10 such companies, all of which are still operating in Kazakhstan.

Blacklisted Kazakhstani companies:

Kursiv.media attempted to contact all of these sanctioned companies. Six firms, which were sanctioned in 2023 and 2024, could not be reached by phone: the contact numbers listed online and...

Former world chess champion Magnus Carlsen revealed that during a chess tournament in Almaty, he had to escape to the mountains for fresh air to perform well.

While staying in the mountains outside the city, Carlsen was late for his match against Belarusian grandmaster Vladislav Kovalev. He started the game with a 2.5-minute delay in a format where each match lasted only three minutes, plus a two-second increment per move. Despite the delay, the Norwegian grandmaster defeated Kovalev and went on to win the tournament.

During a conversation with Joe Rogan on The Joe Rogan Experience podcast, Carlsen said, «The...

Daniyar Ashimbayev, a Kazakhstani political analyst, has weighed in on a high-profile claim made by Alnur Mussayev, the former chairman of Kazakhstan’s National Security Committee (KNB), who alleged that the Soviet KGB recruited American businessman Donald Trump in the 1980s. According to Ashimbayev, the claim is yet another example of a «global show of absurdity» and raises more questions than it answers.

Mussayev, who is wanted for treason and currently resides in Europe, recently stated that Trump allegedly became an undercover agent while Mussayev was serving in the Sixth Directorate of the USSR’s KGB. However, Ashimbayev pointed out that...

Standard & Poor’s (S&P) has affirmed Kazakhstan’s sovereign credit rating at BBB-/A-3, with a stable outlook, according to Kazakhstan’s Ministry of National Economy. The rating agency cited the country’s strong financial reserves as a key factor in mitigating potential external risks.

S&P forecasts that Kazakhstan’s liquid external assets will far exceed its external debt. Experts also anticipate that increased oil production at the Tengiz field will support the country’s economic growth.

The agency noted that midterm fiscal trends will depend on how strictly Kazakhstan adheres to its fiscal rules. Expanding the tax base and imposing restrictions on additional transfers...

Kazakhstan’s Supreme Audit Chamber (SAC) is set to scrutinize the activities of the Samruk-Kazyna national fund, Kazatomprom and the National Bank in 2025, the president’s office said in a statement.

The statement followed a meeting between President Kassym-Jomart Tokayev and Chairman of the SAC Alikhan Smailov. During the meeting, Smailov informed the president about the agency’s activities in 2024 and outlined plans for the current year.

Last year, the chamber inspected 214 entities, covering a total budget of approximately $22 billion. During that audit, financial irregularities totaling $1.7 billion were identified, and $270 million was returned to the state budget...

In 2024, the number of automated teller machines (ATMs) in Kazakhstan decreased by 0.6% year-on-year (YoY) to 12,569 machines. This decline is occurring while the cash-out share in the payment card transaction composition has stabilized. Kursiv Research is trying to figure out whether this is the end of ATMs as demand for their services is shrinking or just another pause before further expansion.

The decline in the number of ATMs in Kazakhstan is one of the consequences of growth in online banking services. According to Kazakhstan’s National Bank, cashless transactions accounted for 87% of all card transactions in Kazakhstan last...

Kazakhstan’s National Security Committee (KNB) has refused to investigate alleged information attacks against anti-LGBTQ members of parliament, according to KNB Chairman Yermek Sagimbayev’s response to a parliamentary inquiry.

Sagimbayev stated that the articles of the Criminal Code related to insults against MPs and information attacks do not fall under the KNB’s jurisdiction.

Earlier, a group of lawmakers from the Mazhilis, the lower house of parliament, claimed that their colleagues who had proposed banning «LGBTQ propaganda» had been subjected to insults and online attacks. In response, they called on the KNB to prosecute those responsible.

Additionally, MP Yedil Zhanbyrshin argued that...

Sanctions against Russia will not be lifted quickly following U.S. President Donald Trump’s inauguration, but their impact will likely diminish, according to Umut Shayakhmetova, CEO of Halyk Bank, one of Kazakhstan’s largest financial institutions. She made the remarks at the recent Women in Business forum in Almaty.

«I hope there will be a thaw and the war will end,» Shayakhmetova said during a session on macroeconomic trends and challenges. «One way or another, there is hope that all these military conflicts will eventually end. But sanctions will not be lifted quickly; it’s not a simple process...

Kyrgyz Prime Minister Adylbek Kasymaliev has called for the dismissal of two deputy ministers for taking unauthorized foreign trips. He also demanded that the minister of education explain why her trips to Austria and the U.K. yielded no results.

According to 24.kg, during a meeting with the presidential administration, Kasymaliev instructed the cabinet to fire Almaz Sokeev, deputy minister of agriculture, and Rasul Abazbek uulu, deputy minister of education for their unauthorized foreign travel.

Severe reprimands were also issued to Samat Nasirdinov, deputy minister of agriculture, who spent 81 days in Japan, and Asel Raimkulova, deputy minister of natural resources...

Former Chairman of Kazakhstan’s National Security Committee (KNB) Alnur Mussayev claims that the Soviet KGB recruited Donald Trump before the collapse of the USSR, assigning him the alias Krasnov. He shared this assertion on his Facebook page.

«In 1987, I served in the Sixth Directorate of the KGB in Moscow. Our primary mission was recruiting businesspeople from capitalist countries. That year, our directorate recruited Donald Trump, a 40-year-old American businessman, under the pseudonym Krasnov,» Mussayev wrote.

He acknowledged that the idea of a U.S. president being a spy or an agent of influence for an...

In January, the volume of railway shipping between Kazakhstan and China increased by 18%. During that period, the two countries exchanged 2.8 million tons of goods, which represents a 25% increase compared to last year.

According to Kazakhstan Temir Zholy (KTZ), the national railway company, the Dostyk border crossing reported a 12% increase in January, reaching 1.5 million tons.

«The Altynkol border crossing reported 1.3 million tons of cargo transported through the point, marking a 25% increase over January 2024. The export of Kazakhstani goods to China grew by 5%, reaching 1.1 million tons. This means...

According to Vesti.kg, Kyrgyzstan is dissatisfied with Russia’s new migration rules. Despite being a member of the Eurasian Economic Union (EEU) alongside Armenia, Belarus, Kazakhstan and Russia, Kyrgyzstan receives many complaints from its citizens who face various bureaucratic hurdles in Russia.

Almaz Imangaziev, deputy minister of foreign affairs of Kyrgyzstan, has presented an official note to Sergey Vakunov, Russia’s ambassador to Kyrgyzstan, addressing the challenges Kyrgyz migrants face in the Russian Federation.

During his meeting with Vakunov, Imangaziev highlighted the difficulties migrants encounter when entering Russia and registering with migration authorities.

The official emphasized that Russia’s introduction of a new...

Kyrgyzstan and the U.S. plan to build a $3 billion railway spanning the entire Central Asian country, according to Kyrgyzstan’s National Investment Agency (NIA).

The Trans-Eurasian Route project will involve constructing a new rail line from the village of Makmal in southern Kyrgyzstan to the city of Karakol in the east.

The NIA, state-owned rail operator Kyrgyz Temir Zholu and U.S.-based All American Rail Group Global Infrastructure Partner LLC have signed an agreement for the project, which will be carried out as a public-private partnership (PPP).

NIA Director Talantbek Imanov said the initiative marks Kyrgyzstan’s first PPP project in the...

According to World Bank’s Regional Director for Central Asia Tatiana Proskuryakova, if women participated in the economy on par with men, Kazakhstan’s GDP growth would reach 27%. (The rate was 4.8% in 2024.) The expert made this statement during the Women in Business forum held on Feb. 20 in Almaty.

«Despite progress in expanding women’s rights in Central Asia, barriers — especially in entrepreneurship — still exist. Gender equality is not only about justice but also about unlocking the economic potential of the region’s nations. If women participated more in the economy, GDP would grow by...

Kazakhstan’s renowned Nomad Stunts team has begun preparations for the filming of a documentary-drama series about the Golden Horde, according to State Counselor Erlan Karin, who recently visited the stunt performers’ training facility.

Nomad Stunts, a team of professional stunt performers recognized for their work in world-class productions, has contributed to major projects such as Netflix’s «Marco Polo,» Disney’s «Mulan» and Apple Studios’ «Napoleon.» For this latest project, they are preparing historical scenes and choreographing complex battle sequences. Training is underway, focusing intensively on historical weaponry, horsemanship and realistic fight choreography.

Maulen Ashimbayev, the speaker of the Senate (the upper chamber of Kazakhstan’s parliament), has written an article titled «Logic of Reforms 2.0: In the Fairway of the Age.» In the text, published in the Vremya newspaper (time.kz), the official emphasized that with Donald Trump returning as U.S. president, the world is transitioning to a new order. He stressed that the motto «Adapt or die» is more relevant than ever. In his article, Ashimbayev shared his vision of what must be done to address the situation.

He believes that more and more countries are leaning toward protectionist policies, which could lead...

The volume of stocks traded on the Kazakhstan Stock Exchange (KASE) declined by more than one-third to approximately $37.4 million in January. Last month, trading in this sector mostly occurred on the secondary market, the exchange said in a statement.

The aggregated trading volume on KASE has shrunk by 11.9% to around $57 billion. However, the KASE Index increased by 1.2% month-on-month (MoM), reaching 5,644.41 points. Currently, the figure stands at 5,628.52 points, indicating a slight decrease.

Stock market

Stock market capitalization saw a 2.4% decline to $63.9 billion. The daily average stock trade on KASE totaled roughly $1.87 million...

Russia will build a trunk gas pipeline to supply natural gas to Kazakhstan, according to the TASS news agency. Russia’s government has included the project in the country’s territorial planning scheme, a framework designed to organize and manage land use and infrastructure development.

The pipeline will pass through districts and rural settlements in the Tyumen region, supplying gas to northern and northeastern Kazakhstan. It will have a capacity of 10 billion cubic meters (bcm), with compressor stations capable of generating 50 megawatts (MW).

In December 2024, Russian Deputy Prime Minister Alexander Novak announced that construction had begun on a trunk...

In a Feb. 19 article published in the Vremya newspaper, Maulen Ashimbayev, chairman of Kazakhstan’s Senate, argued that international institutions are in crisis, citing the United Nations (UN) as an example. He also pointed to the World Health Organization (WHO) and the World Trade Organization (WTO).

«The once-reputable UN, in its current form, risks following the fate of the League of Nations. The WHO failed the test of the pandemic: Donald Trump, after taking office, announced the U.S. withdrawal from the organization. The WTO has proven ineffective as a dispute resolution arbiter amid geopolitical clashes,» Ashimbayev...