Tag Archives: Kazakhstan

Arbitration is damaging our reputation, says Kazakhstan’s Dariga Nazarbayeva

JUNE 16 2021 (The Bulletin) — Dariga Nazarbayeva, daughter of former Kazakh President Nursultan Nazarbayev and an MP, said that Kazakhstan had to avoid getting dragged into international arbitration proceedings as they were damaging the country’s reputation as a place to do business. She specifically mentioned the long-running arbitration between Kazakhstan and Moldovan Anatoli Stati over an oil field which he says was illegally expropriated.

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— This story was published in issue 48 of the Central Asia & South Caucasus Bulletin, on June 16 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Kazakhstan rolls out coronavirus app

JUNE 15 2021 (The Bulletin) — Looking to roll out their coronavirus app Ashyq, Kazakh officials said that from June 21 QR codes would be installed at train stations for people to scan. The app is designed to track people’s movements and alert them if they come into contact with anybody infected with Covid-19. Rights activists have accused the Kazakh government of being authoritarian and have said that the app could be used to control people.

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— This story was published in issue 48 of the Central Asia & South Caucasus Bulletin, on June 16 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Tokayev talks up Kaspi.kz

JUNE 14 2021 (The Bulletin) — Highlighting the importance of London-listed Kaspi.kz as a champion of Kazakh business in the West, Kazakhstan’s President Kassym-Jomart Tokayev said that it was a role model for the future of the country’s fintech sector.. Kaspi’s banking app has been a success in pulling in millions of users in Kazakhstan. On the London Stock Exchange its share price has doubled since it listed in October.

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— This story was published in issue 48 of the Central Asia & South Caucasus Bulletin, on June 16 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Kazakh court sentences activist to prison for Ablyazov links

JUNE 15 2021 (The Bulletin) — A court in Shymkent, southern Kazakhstan, sentenced Nurzhan Mukhammedov, a political activist, to two years of “limited freedom” for his links to the banned Democratic Choice of Kazakhstan (DVK). The DVK is linked to Mukhtar Ablyazov, the Paris-based opposition leader who has been accused of stealing billions from a Kazakh bank.

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— This story was published in issue 48 of the Central Asia & South Caucasus Bulletin, on June 16 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Kazakh weightlifter fails drugs test

JUNE 10 2021 (The Bulletin) — The International Weightlifting Federation (IWF) disqualified  Kazakh weightlifter Anna Nurmankhambetova from the 2012 Olympic Games because of a failed drugs test, stripping her of the silver medal that she had been awarded retrospectively because other athletes had also failed drugs tests. Several Kazakh athletes, weightlifters and cyclists, have previously failed drugs tests too.

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— This story was published in issue 48 of the Central Asia & South Caucasus Bulletin, on June 16 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Fitch gives Kazakhstan’s Jusan Bank a rating

JUNE 9 2021 (The Bulletin) — Fitch, the ratings agency, gave Kazakhstan’s First Heartland Jusan Bank an investment grade rating of B1 only a couple of weeks after Bloomberg reported that it had used government grants to pay dividends to shareholders. The bank is closely linked to former Kazakh president Nursultan Nazarbayev. Jusan Bank has denied any wrongdoing and said that the Fitch rating is a reflection of its strong liquidity.

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— This story was published in issue 48 of the Central Asia & South Caucasus Bulletin, on June 16 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Kazakh Central Bank keeps interest rates steady

JUNE 9 2021 (The Bulletin) — The Kazakh Central Bank kept its interest rate at 9% because of higher-than-hoped-for inflation. It said that inflation will exceed its 4-6% target corridor this year because of high commodity prices but that GDP growth would be between 3.6% and 3.9%, a slight rise on an earlier estimate.

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— This story was published in issue 487 of the Central Asia & South Caucasus Bulletin, on June 9 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Kashagan to start work on building gas processing plant

JUNE 8 2021 (The Bulletin) — Kazakh PM Askar Mamin inaugurated the construction of a gas processing plant at an onshore plant linked to the Kashagan oil project. The Kashagan oil field is in the Caspian Sea but it pumps oil and gas to an onshore processing site. The gas processing plant will start production from the end of 2023 and will have a capacity of 1m cubic metres of gas per year.

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— This story was published in issue 487 of the Central Asia & South Caucasus Bulletin, on June 9 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Russian airport operator eyes up Central Asia

JUNE 7 2021 (The Bulletin) — Russian regional airport operator Novaport is still interested in signing deals with airports in Kazakhstan and Uzbekistan despite the drop in footfall caused by the pandemic, billionaire owner Roman Trotsenko told Russian media. He said that he expects auctions to run airports, including the airport at Nur Sultan, to come up in 2020. Turkey’s TAV signed a deal in May to buy Almaty airport and has also said it will invest in Uzbek airports.

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— This story was published in issue 487 of the Central Asia & South Caucasus Bulletin, on June 9 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Kazakh home-building boom pushes up cement prices

JUNE 4 2021 (The Bulletin) — Prices for cement in Kazakhstan have risen because of a boom in house construction, media reported. Industry minister Beibut Atamkulov said that the price of cement was up by 30-40%. The Kazakh government has driven a house building boom, in part to help its economy recover from the coronavirus pandemic. Cement use has soared across the region. Uzbekistan doubled its cement use in the first four months of the year compared to the same period in 2020.

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— This story was published in issue 487 of the Central Asia & South Caucasus Bulletin, on June 9 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021