Kazakhstan seeks to develop nuclear energy

Kazakhstan, ranked first in the world in terms of uranium reserves, is now undertaking  a transition to nuclear power.  Russian State Atomic Energy Corporation Rosatom and Kazakhstan´s Energy Ministry are on the move to sign an intergovernmental agreement on constructing nuclear plant in Kazakhstan. Drop in oil prices, energy and environmental reasoning are believed to be pushing Kazakhstan…

Exploring the Kazakh Economy: An Interview with Sabit Khakimzhanov

Earlier this year we had the opportunity to speak to Dr. Sabit Khakimzhanov,  the head of research at Halyk Finance, a leading Kazakh investment bank focused on Central Asia. Khakimzhanov is an authority on the Kazakh economy and investment climate, and has written and spoken widely on Kazakh monetary policy. Dr. Khakimzhanov has a Ph.D. in Applied Economics from…

Kazakhstan refutes Russian claim on introduction of common Eurasian currency

Kazakhstan refuted a Russian parliamentary member’s comments that a common currency for the Eurasian Economic Union (EAEU) called evraz is in the works. President Nursultan Nazarbayev’s Press Secretary Dauren Abayev stated that the prospect of introducing a common currency with the Union’s four other members, Russia, Belarus, Kyrgyzstan and Armenia, is not on the agenda.…

Russia and Kazakhstan in talks with OPEC countries over oil prices

In response to sagging oil prices, the Organization of the Petroleum Export Countries (OPEC) held a meeting in Vienna first time with eight non-member states including Russia and Kazakhstan. Previously, Russia and some other oil producers refused to work with OPEC.  Participation from Russia, Kazakhstan, Mexico, Colombia and Brazil created the hope that they may assist in taking…

Kazakhstan: Central Bank Buys 10% Share in KazMunaiGas

Kazakhstan’s national wealth fund announced the sale of a 10% stake in state energy company KazMunaiGas (KMG). The move is being described as an unusual yet necessary action given the downturn in the Kazakh economy engendered by persistently low oil prices. The transaction was seemingly made in order to increase liquidity in the state-run oil company and…