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According to the National Bank of Kazakhstan, the government has suspended the ban on the withdrawal of the Russian ruble. Even though the document was signed by Prime Minister Alikhan Smailov on December 28, this information went public only on January 4.

The cabinet’s decree has already entered into force and will last 60 calendar days. The Ministry of Finance and the Committee on National Security are set to supervise its implementation.

The National Bank noted that the decision to allow the withdrawal of rubles from Kazakhstan has been driven by the need to convert the ruble into non-cash form...

Food Solutions KZ’s fast food chain is set to stop working under the McDonald’s brand in Kazakhstan because of «a shortage in supplies,» the company said in an official statement.

However, Food Solutions KZ is going to restart its restaurants under a new name. The announcement will be issued «soon,» it said.

«Once the chain’s restaurants are reopened, our guests will be offered high-quality products, a diversified menu and hospitable service. Our fast food restaurants are going to continue working under high standards and principles of business conduct,» the company said in a statement.

The first restaurant under the McDonald’s...

According to Prosecutor General Berik Asylov, the former head of the National Security Committee (KNB) is the one who was behind the unrest. The official also noted that perpetrators had been preparing for the unrest long before it happened in January 2022. Now, Karim Masimov and his deputies are the key individuals involved in this criminal case.

When Asylov was asked by a journalist if Masimov is the key organizer of the January unrest, he gave a positive response.

However, while talking about Samat Abish, a nephew of Ex-President Nursultan Nazarbayev and a high-ranking KNB officer, Asylov wasn’t so confident...

KazTransOil, the national oil pipeline company in Kazakhstan, has increased a tariff for Russian oil that goes to Uzbekistan through Kaztransoil pipelines from $25.12 per ton of oil to $27.90 per ton. The new tariff will enter into force on February 1, 2023, according to the Kazakhstan Stock Exchange (KASE).

«KazTransOil is announcing that by Order No. 154 signed by the director general on December 27, 2022, the company imposes a new tariff of $27.90 (VAT excluded) per ton for the transportation of Russian oil to Uzbekistan through Kazakhstan’s territory. This tariff is entering into force on February...

President Kassym-Jomart Tokayev discharged Minister of Ecology and Natural Resources Serikkali Brekeshev, Minister of Education Askhat Aimagambetov, Minister of Culture and Sport Dauren Abayev, Minister of Industry and Infrastructural Development Kairbek Uskenbayev and Minister of Justice Kanat Musin, according to the president’s press service.

On the same day, Tokayev signed the edict on the assignment of Zulfiya Suleimenova, Gani Beisembayev, Askhat Oralov, Marat Karabayev, and Azamat Yeskarayev as new ministers of ecology, education, culture and sport, industry and infrastructural development and justice, respectively.

Zulfiya Suleimeniva was born in 1990 in Aktobe. She graduated from Eurasian National University in Astana and...

President Kassym-Jomart Tokayev announced his plans to make staff changes in the cabinet next year. He made the statement while giving a speech in the Senate (upper house of the parliament).

«I am going to make some staff changes in the cabinet in early January after consultations with the prime minister,» the president said. He noted that the speed of the current cabinet’s work was too slow.

Tokayev said that the cabinet is quite passive regarding critical issues for the country. The president wants the cabinet to increase its efficacy.

On December 14, Alikhan Smailov told to the cabinet that...

Fergana Oil Refinery has produced a trial batch of A-1 jet fuel for gas turbine engines deployed on Airbus and Boeing aircraft, according to the country’s Ministry of Energy.

The fuel has been tested by the Russian Scientific Research Institute of Oil Refining and certified by the Uzbek Agency for Technical Regulations.

«Given that the government announced the goal to turn Uzbekistan into an international transportation hub, the Fergana Oil Refinery is ready to become a reliable supplier of high-quality fuel. We will provide all local airports with kerosene-type jet fuel soon. As a result, any foreign aircraft will be...

Magnus Carlsen, a 32-year-old grandmaster from Norway has become a Rapid World Champion during the international chess tournament in Almaty, according to the Chess Federation of Kazakhstan.

Carlsen scored 10 points, while his opponent Vincent Keymer, an 18-year-old chess grandmaster from Germany, has taken second place with 9.5 points. Fabiano Caruana, a 30-year-old chess player from the U.S. has ranked third. He also scored 9.5 points.

Kazybek Nogerbek showed the best result among Kazakhstan’s chess players. He scored 8 out of 13 points and took 35th place.

In the women’s rapid match, the best result has been demonstrated by Tan...

The law on the first president is going to be annulled in Kazakhstan. Members of the Mazhilis (the lower house of the parliament) have started reviewing the corresponding draft law. 

According to Arman Kozhakhmetov, chairman of the Committee on Legislation and Judicial and Legal Reform of Mazhilis, the document is going to implement all those amendments that have been added to Kazakhstan’s constitution.  

«The amended constitution no longer includes Clause 4 of Article 46 of the constitution that regulated the status and authorities of the first president of the country,» he said at the plenary session of Mazhilis.

As a...

On December 28, the country’s parliament adopted a set of amendments to the current legislation, including limitations on electricity consumption by digital miners and a ban on cryptocurrency exchanges. The new draft law adopted by the MPs is an annex to the law on digital assets.

According to MP Ekaterina Smyshlyaeva, who presented the draft law in the Mazhilis, the main goal of the document is to protect the national power grid system from unregulated digital mining. Digital miners are no longer able to buy electricity directly from the national power grid system. They have to rely only on renewable...

Kazakhstani company M Holding Ltd. is going to buy the trading and entertainment center Metropolis in Moscow. The Federal Antimonopoly Service of Russia has already approved the deal, noting that it won’t affect the commercial property market in the country.

M Holding Ltd. was established in Astana in July 2022 and is controlled by Capital Partners, one of the biggest development companies in Kazakhstan. The current head of M Holding Ltd. is Erzhan Tsenov, a prominent manager in Kazakhstan. Over many years, he worked as executive director in different companies, including Capital Tower Development and Esentai Tower Investments.

The...

According to its press service, Kazatomprom has placed short-term coupon bonds on the Kazakhstan Stock Exchange (KASE). 

The nominal value of each of the 500,000 bonds is $100. The maturity is 30 days and the yield to maturity is 4.6%.

On October 27, 2022, the board of directors of Kazatomprom approved the decision to issue bonds for $200 million. The issuing and placement of bonds are set to happen any moment the company needs additional liquidity.

In the first half of the year, Kazatomptom reported a decline in uranium output by 3.6% to 10.07 thousand tons.

The company paid...

The Agency for Protection and Development of Competition of the Republic of Kazakhstan is worried about the win of Mobile Telecom Services and Kcell, Kazakhtelecom’s two subsidiaries, during bids over 5G frequencies. The agency says that these results carry the risks of monopoly and tariff increase, according to Rustam Akhmetov, first deputy head of the antimonopoly agency.

«We aren’t happy with the bid’s results. First of all, we see a growing risk of monopolization. There is no chance for any private operator to emerge in the market. Second, we have lost an opportunity to get private investments and now all...

On December 25, the World Chess Championship started in Almaty’s Palace of Culture and Sports named after Baluan Sholak. According to the Chess Federation of the Republic of Kazakhstan, the tournament’s prize fund is $1 million.

The tournament organized by FIDE and the Chess Federation of Kazakhstan attracted leading chess players from 50 countries. It will last until December 30, 2022.

During the official opening ceremony, Minister of Culture and Sports Dauren Abayev read out the letter from President Kassym-Jomart Tokayev. The president praised the recent success of Kazakhstan’s chess players and underscored that «this success aspires the young generation...

President Kassym-Jomart Tokayev of Kazakhstan and President Shavkat Mirziyoyev of Uzbekistan have agreed to facilitate mutual trade, according to a joint statement the two sides made after negotiations at the top level in Tashkent.

While giving a speech, President Tokayev said that thanks to the joint efforts of the two governments, the turnover between Kazakhstan and Uzbekistan is going to reach roughly $5 billion this year.

The main priority for the two sides is the expansion of industrial cooperation. There are already ten joint Kazakhstani-Uzbekistani ventures that operate in the spheres of machine building, pharmaceuticals, construction and textiles. Now, the...

Halyk Bank Kazakhstan has sold its 100% share in Moskommertsbank, according to Kazakhstan Stock Exchange (KASE).

In an official press release, the bank said the decision followed a comprehensive analysis of Moskommertsbank operations and its outlook in the Russian market. The bank accounted for 2% of the entire business of Halyk Group.

«We are going to put our major efforts and resources into projects that have good potential for growth and can generate a high level of profit. We are trying to focus on the most promising directions of the business. This is the strategic principle for Halyk Group,» the...

During the auction for a prospecting license at the Bozoba field in the Aktobe region, the license price skyrocketed to 300 times more expensive than the starting price.

The starting price for a land parcel of 132.14 square kilometers was $123,756. Over the course of the auction, it reached $37.9 million. The prospecting activity at the land can’t exceed six years for some parcels or nine years for parcels where implementing exploration is problematic.

The government has already closed auctions for nine out of 34 fields. In some cases, auctions are still in progress. For instance, the Severo-Pridorozhnoe field (the...

Popeyes, an American fast-food chain, is going to open tens of restaurants in Kazakhstan, according to Eldar Abdrazakov, a Kazakhstani businessman and head of Centras Group, a company that has been granted exclusive rights to represent the chain in Kazakhstan.

«We’re excited to introduce our brand in Kazakhstan with Eldar Abdrazakov, a highly reputable local investor. This is the first deal for Popeyes in Central Asia, representing a gateway for the region and opening-up new expansion opportunities for the brand in the coming years,» said Thiago Santelmo, President of RBI EMEA, parent company of Popeyes, Burger King, Tim Hortons and...

Kazakhstan’s government is going to soften punishment for those health workers indicted for medical errors. The members of Mazhilis have already adopted the draft law.

The new rule suggests decreasing the fine and detention period for unintended infliction of mild or serious harm to someone’s health, according to Minister of Health Azhar Giniyat, who presented the draft law to members of the parliament.

«We are going to replace imprisonment with limitation of freedom for those who were indicted for infliction of serious harm to someone’s health,» she said.

The new law will soften punishments that the current Criminal Code offers...

KazMunayGaz (KMG), a Kazakhstani oil company, has confirmed its plan to start sending oil to Germany’s Schwedt refinery. The refinery used to buy Russian oil but now seeks out new suppliers, according to the KMG press service.

«The president has ordered us to test a new exporting route to Germany. We are going to send the first bunch of oil in January 2023,» said Magzum Mirzagaliyev, CEO of KMG.

Mirzagaliyev has already discussed this issue with Michael Kellner, the Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action via online video call. He also met with...

The economy of Uzbekistan is expected to grow by 5.3% in 2023. This forecast was announced during the country’s cabinet meeting over macroeconomic outlooks for 2022-2023 under the chairmanship of President Shavkat Mirziyoyev, according to the president’s press service.

«As we continue to see global uncertainty next year, we are going to focus on macroeconomic stability while avoiding sharp growth in inflation,» the official statement said.

This year Uzbekistan may reach a 5.5% growth of the national GDP and a 13% increase in exports ($19 billion). The country’s government has prioritized reducing unemployment and raising living standards, both of which...

The Ministry of Ecology, Geology and Natural Resources of Kazakhstan has initiated the extension of the saiga cull moratorium in 2023, according to Minister Serikkali Brekeshev.

«Today we have stepped in with the initiative to extend the saiga antelope cull moratorium. If the cabinet supports this idea, the saiga cull will be illegal next year as well,» the minister said.

According to the ministry, over the past decade, the population of saiga increased 60fold thanks to different national programs. Currently, there are 1.3 million saiga specimens in the country.

In June, Brekeshev came up with an idea to launch the...

The Ministry of Energy reviewed all 37 thermal power stations (TPS) in Kazakhstan and has split all of them into three groups. The red zone includes 19 stations, the yellow zone – 11, and the green – seven, according to Minister of Energy Bolat Akchulakov.

The analysis is based on four key factors: equipment deterioration, the number of technical failures, service life and lack of staff.

Kazakhstan’s TPSs are worn-out by 66% on average. However, the rate is higher than 80% in Uralsk, Stepnogorsk, Taraz, Kyzylorda and Kentau. According to Akchulakov, TPSs reported 5% more technical failures in 2021 than...

The government of Kazakhstan hasn’t decided yet what foreign company it will partner with in the construction of a nuclear power plant (NPP). The authorities are going to make this decision in January 2023, according to Aset Makhambetov, senior project manager from Kazakhstan Nuclear Power Plants LLP.

«There is no chance we choose a partner by the end of this year because we are still in negotiations with all of them. For instance, in September we had a big delegation from South Korea. Also, we had two delegations from China in October and November. We have thoroughly reviewed every detail...