Welcome to Kursiv News. Here we publish the latest news from Kazakhstan, Central Asia, the Caucasus:
According to Magzum Mirzagaliyev, the chairman of the management board of KazMunayGas (KMG), Kazakhstan’s oil potential might be expanded at the expense of large new oil fields.
According to Magzum Mirzagaliyev, the chairman of the management board of KazMunayGas (KMG), Kazakhstan’s oil potential might be expanded at the expense of large new oil fields. As he noted, the exploration rate of Kazakhstan’s subsoil is just 24%. No new oil fields were reported over the past y...
The board of appeals of the Astana court has ruled that the results of the Kashagan examination by the Ecology Department of the Atyrau Region were valid and correct. This means that the North Caspian Operating Company (NCOC), the Kashagan project operator, should pay $5.1 billion in fines.
The board of appeals of the Astana court has ruled that the results of the Kashagan examination by the Ecology Department of the Atyrau Region were valid and correct. This means that the North Caspian Operating Company (NCOC), the Kashagan project operator, should pay $5.1 billion in fines. The boar...
The international auditors have advised Qarmet to establish a central dispatcher service to control positioning systems in mines.
Boston Consulting Group, a global management consulting firm, has conducted an audit of working conditions at Qarmet. As a result, the experts suggested the Kazakhstani company carry out a large-scale modernization of its coal mines, the company said in a statement. The top priority task is to equip...
The Kaspi.kz fintech group is going to delist its ADS and GDR from the LSE before March 25, the company said in a statement.
The Kaspi.kz fintech group is going to delist its American Depository Shares (ADS) and global depository receipts (GDR) from the London Stock Exchange (LSE) before March 25, the company said in a statement. As the company noted, the decision to leave was driven by the low volume of trade on the LSE....
Kazakhstan has prepared a draft law aimed at softening requirements for foreign banks that want to open subsidiaries and branch offices in the country.
The Agency for Regulation and Development of Financial Market (ARDFM) has prepared a draft law aimed at softening requirements for foreign banks that want to open subsidiaries and branch offices in Kazakhstan. The agency will introduce these amendments to the parliament very soon, according to Olzha...
The Russian Tatneft has acquired 50% shares of Karaton Operating Ltd., which supervises the Karaton Podsolevoy project, from KazMunayGas (KMG), the national oil company in Kazakhstan.
The Russian Tatneft has acquired 50% shares of Karaton Operating Ltd., which supervises the Karaton Podsolevoy project, from KazMunayGas (KMG), the national oil company in Kazakhstan. «Under the purchase and sale agreement, KMG sells 50% shares of Karaton Operating Ltd. (operator of the Karaton Pod...
According to KZ-CERT, the national Computer Emergency Response Team in Kazakhstan, a group of Chinese hackers had access to the infrastructure of Kazakhstani telecommunication operators for two years.
According to KZ-CERT, the national Computer Emergency Response Team in Kazakhstan, a group of Chinese hackers had access to the infrastructure of Kazakhstani telecommunication operators for two years. As CERT noted, this month unknown people published secret data leaked from iSoon (aka Anxun), one o...
Experts of Halyk Finance have cast doubt on the government’s plan to reach economic growth at 6% this year; the plan was announced at a cabinet meeting recently. The experts point out low labor efficiency and the huge role of the government in the country’s economy.
Experts of Halyk Finance have cast doubt on the government’s plan to reach economic growth at 6% this year; the plan was announced at a cabinet meeting recently. The experts point out low labor efficiency and the huge role of the government in the country’s economy. In January, economic growth s...
According to Kazakhstan's Energy Minister Almasadam Satkaliyev, Germany is interested in increasing Kazakhstan's oil exports to up to 200,000 tons per month.
According to Kazakhstan’s Energy Minister, Almasadam Satkaliyev, Germany is interested in increasing Kazakhstan’s oil exports to up to 200,000 tons per month. This oil is transported to Germany via the Druzhba main oil pipeline. Over the period from May to October 2023, Kazakhstan exported about...
Knauf Gruppe, GP Günter Papenburg AG and Roxtec, leading German companies, have established a consortium to explore and produce lithium in Kazakhstan.
Knauf Gruppe, GP Günter Papenburg AG and Roxtec, the leading German companies, have established a consortium in order to together explore and produce lithium in Kazakhstan, according to the Ministry of Industry and Construction of the Republic of Kazakhstan. German Institute for Technologies and Ec...
QazaqGas, the national gas company in Kazakhstan and UCC Holding from Qatar have decided to work together to build natural gas processing plants on the Kashagan field.
QazaqGas, the national gas company in Kazakhstan and UCC Holding from Qatar have decided to work together to build natural gas processing plants on the Kashagan field. The arrangement followed negotiations between President of Kazakhstan Kassym-Jomart Tokayev and Emir of Qatar Tamim bin Hamad Al Tha...
The National Bank of Kazakhstan emerged as a global leader in gold sales last year, contrasting with the trend among other central banks, particularly those in developing nations, which sought to accumulate gold reserves.
The National Bank of Kazakhstan emerged as a global leader in gold sales last year, contrasting with the trend among other central banks, particularly those in developing nations, which sought to accumulate gold reserves, according to analysts at Halyk Finance. Since 2012, the National Bank has been...
Once the project is implemented, the country will lease this computing power to neighboring countries, as stated on the digital ministry’s website.
The Ministry of Digital Development, Innovations and Aerospace Industry of Kazakhstan, Samruk Kazyna and Presight AI, a research and consulting company from Abu Dhabi, have officially agreed to build a supercomputer and a data processing center (DPC) in Kazakhstan. Once the project is implemented, t...
President of Kyrgyzstan Sadyr Japarov has asked U.S. Secretary of State Antony Blinken not to intervene in the country’s internal affairs.
President of Kyrgyzstan Sadyr Japarov has asked U.S. Secretary of State Antony Blinken not to intervene in the country’s internal affairs. Earlier this month, Blinken said that he was concerned over a draft law on nongovernmental organizations that the Kyrgyz parliament had been reviewing. The dra...
In 2023, the volume of cashless payments in Kazakhstan amounted to $315 billion, which is a 20% increase over the national GDP and a 39% increase compared to last year, according to the Association of Financiers of Kazakhstan.
In 2023, the volume of cashless payments in Kazakhstan amounted to $315 billion, which is a 20% increase over the national GDP and a 39% increase compared to last year, according to the Association of Financiers of Kazakhstan. The share of cashless payments increased from 82.5% to 86.2% throughout t...
Freedom Finance Global is going to provide investors an opportunity to acquire stocks and global depository receipts (GDR) of Air Astana on the AIX and London Stock Exchange (LSE) before the start of the standard trading session scheduled on February 15.
Freedom Finance Global is going to provide investors an opportunity to acquire stocks and global depository receipts (GDR) of Air Astana on the AIX and London Stock Exchange (LSE) before the start of the standard trading session scheduled on February 15, according to a press release by the AIX. Prem...
According to President Kassym-Jomart Tokayev, there is no effective regulation of the construction sector in Kazakhstan. He suggested simplifying the process of getting approval documentation for investors in the sector.
According to President Kassym-Jomart Tokayev, there is no effective regulation of the construction sector in Kazakhstan. He suggested simplifying the process of getting approval documentation for investors in the sector. As the president noted, the current methodology for calculating construction pr...
President Kassym-Jomart Tokayev has appointed Olzhas Bektenov, former head of the presidential administration, as the new prime minister of Kazakhstan.
President Kassym-Jomart Tokayev has appointed Olzhas Bektenov, former head of the presidential administration, as the new prime minister of Kazakhstan. Bektenov’s nomination was supported by 69 MPs, while seven MPs abstained from voting. Today, on February 6, President Tokayev took part in the Maz...
President Kassym-Jomart Tokayev has dismissed the country’s cabinet. The first Deputy Prime Minister Roman Sklyar has been appointed as the executive prime minister.
President Kassym-Jomart Tokayev has dismissed the country’s cabinet. The first Deputy Prime Minister Roman Sklyar has been appointed the executive prime minister. «I hereby order to accept the resignation of the cabinet of the Republic of Kazakhstan and appoint Roman Sklyar the executive prime mi...
According to Aslan Tukiyev, chair of the judicial panel on administrative cases of the Supreme Court, investors won 78% of legal cases in Astana courts in 2023. It harms the country’s investment attractiveness, the official says.
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According to Aslan Tukiyev, chair of the judicial panel on administrative cases of the Supreme Court, investors won 78% of legal cases in Astana courts in 2023. It harms the country’s investment attractiveness, the official says. «This data is terrifying. This means that in seven to eight cases o...
Last year, Halyk Bank announced that a consortium of buyers from the Visor International DMCC investment group agreed to purchase Halyk Bank Kyrgyzstan.
As Halyk Bank told Kursiv, it still wants to sell its Kyrgyzstani subsidiary to the Visor group. Both sides have been waiting for approval from the Kyrgyz regulator for three months now. In 2019, Aidan Karibzhanov, the majority shareholder of Visor, commented on assets in the neighboring country: «...
The think tank is forecasting that Kazakhstan’s economy will grow by 4.5% in 2024, although it also expects budget parameters to get worse while lowering inflation slows down.
The Applied Economic Research Center (AERC) is forecasting that Kazakhstan’s economy will grow by 4.5% in 2024, although it also expects budget parameters to get worse while lowering inflation slows down. The think tank’s analysis is based on a mix of two models: under the model of aggregated de...
Even though the country’s government already reimburses 50% of costs related to purchasing water-saving equipment, this year the amount of subsidizing will reach 80%.
The Ministry of Water Resources is going to promote water-saving technologies among Kazakhstani farmers with the help of financial incentives. Even though the country’s government already reimburses 50% of costs related to purchasing water-saving equipment, this year the amount of subsidizing will...
A consortium of investors from the Sultanate of Oman has purchased 23.9% of Polymetal International, a Kazakhstani producer of gold and silver, from ICT Holding by Alexander Nesis. As a result, the company no longer possesses a stake in the mining enterprise.
A consortium of investors from the Sultanate of Oman has purchased 23.9% of Polymetal International, a Kazakhstani producer of gold and silver, from ICT Holding by Alexander Nesis. As a result, the company no longer possesses a stake in the mining enterprise. On January 28, 2024, Maaden Internationa...
Independent examination by Morgan, Lewis & Bockius LLP and Forensic Risk Alliance has proven that accusations against Freedom Holding Corp. presented in a report by Hindenburg Research were false, according to a press release by the holding.
Independent examination by Morgan, Lewis & Bockius LLP and Forensic Risk Alliance have proven that accusations against Freedom Holding Corp. presented in a report by Hindenburg Research were false, according to a press release by the holding. The legal firm Morgan, Lewis & Bockius was established in...
In 2023, Kazakhstani private asset management companies outperformed the National Bank in terms of earnings.
According to the Unified Accumulative Pension Fund (UAPF), in 2023, private asset management companies such as ВCC Invest, Centras Securities, Halyk Global Markets, Jusan Invest and Halyk Finance outperformed the National Bank in terms of earnings. Last year, the National Bank reported a 10.11% ret...
According to Aidar Ryskulov, head of economics and finance in Samruk Kazyna, the holding is attracting money from the National Fund at a rate that matches the historical rate of inflation. This money is necessary to finance big infrastructural projects within the country.
According to Aidar Ryskulov, head of economics and finance in Samruk Kazyna, the holding is attracting money from the National Fund at a rate that matches the historical rate of inflation. This money is necessary to finance big infrastructural projects within the country. «Why does the holding attr...
According to Kyrgyz state news agency Kabar, citing President Sadyr Japarov, Kyrgyzstan is going to provide Kazakhstan and Uzbekistan with irrigation water with no limitations despite its deficit in the irrigation period.
According to Kyrgyz state news agency Kabar, citing President Sadyr Japarov, Kyrgyzstan is going to provide Kazakhstan and Uzbekistan with irrigation water with no limitations despite its deficit in the irrigation period. As Japarov noted, the problem with the deficit of water was caused by the silt...
Experts from Freedom Holding, Halyk Finance and Jusan Invest have shared their estimates of the future value of Air Astana after its IPO.
Experts from Freedom Holding, Halyk Finance and Jusan Invest have shared their estimates of the future value of Air Astana after its IPO. According to the finance.kz website, Freedom has set a range of the company’s evaluation between $1 and $1.3 billion. The brokerage company highlighted that the...
Russia and Kazakhstan have signed a new protocol to the bilateral agreement on oil transit to China. Under the document, Russia will boost its oil exports to China through Kazakhstan’s territory from 7 million tons of oil to 10 million tons per year.
Russia and Kazakhstan have signed a new protocol to the bilateral agreement on oil transit to China. Under the document, Russia will boost its oil exports to China through Kazakhstan’s territory from 7 million tons of oil to 10 million tons per year. This figure was secured in the document from th...
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