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Business News in Brief

Kazakhstan has approved a $23 billion project to expand production facilities of the Tengiz oil field, Kurmangazy Iskaziyev, deputy chairman of Kazakhstan’s national oil and gas company KazMunayGas, said at the 21st Kazakhstan International Conference KIOGE-2013 on Oct.1. The project will bring oil field production to 38 million tons a year, the official said. “A…

Taxing the Rich(er): Where to Draw the Lines?

Over the past several months, very interesting and quite telling developments have been taking place on the political scene in Kazakhstan as the government has been takingsteps to increase budget revenues while decreasing budget expenditures in the next few years. In the spring, the country was abuzz with the much debated pension reform law that…

Domestic News in Brief

On Sept. 22, during a visit to Kyzylorda region, President Nursultan Nazarbayev proposed to pay special attention to forming flexible enterprises of 10-20 employees along the Western Europe-Western China highway. The 8,445-kilometre highway, which crosses three of the world’s 10 largest countries by area, will be the fourth longest highway in the world when completed.…

External News in Brief

Kazakhstan has been a reliable energy partner of the EU for a decade, Aurelia Bouchez, head of the EU delegation to the Kazakhstan, said at the 21st KIOGE 2013 Kazakhstan International Oil and Gas Exhibition held on Oct. 1-4 in Almaty. Addressing the event, Bouchez said that the EU is Kazakhstan’s largest trading partner and…

Economy News in Brief

The grain harvest is forecast to reach 18.5 million tons this year, Minister of Agriculture of Kazakhstan Assylzhan Mamytbekov said at a CCS media briefing in early October. “Taking into consideration the results of the harvest, we have raised the grain harvest volume outlook to 18.5 million tons. Accordingly, the export volume outlook will be…

Are There Bobos in Kazakhstan? If so, Where Are They Headed?

In 2000, David Brooks, a prominent New York Times columnist, wrote a book called “Bobos in Paradise: The New Upper Class and How They Got There,” in which he chronicled the emergence of a new upper class of bourgeois bohemian (hence bobo). In that bestselling work of satirical sociology, Brooks coined a new word to…

Domestic news in brief

Members of the Mazhilis or lower house of Kazakhstan’s Parliament planted a new poplar alley along Turan Avenue in Astana as part of their volunteer Saturday work on Sept. 21. Along with poplars, the Mazhilis representatives planted ash trees and maples. The planting stock for the alley was brought from the forest nursery forming the…

External news in brief

On Sept. 23, Kazakhstan Prime Minister Serik Akhmetov left for a working visit to Sochi (Russian Federation) to participate in the next session of the Collective Security Council (CSC) of the Collective Security Treaty Organization (CSTO). The heads of delegations from Kazakhstan, Russia, Kyrgyzstan, Belarus, Tajikistan and Armenia discussed a wide range of issues on…

Economy news in brief

Some 8.1 million square metres of affordable housing will be introduced in Kazakhstan by 2020, Deputy Finance Minister Ardak Tengebaev said at a recent international conference “10 years of the Housing Construction Savings System in Kazakhstan: Results and Further Prospects.” The deputy finance minister also said the funds from the budget for provision of preferential…

Business News in Brief

Kazakhstan’s business community will now be able to obtain a British business visa in two to three days following an announcement by the British Prime Minister’s Trade Envoy, Charles Hendry. Hendry made the announcement at the 17th Session of the Kazakh-British Trade and Industry Council. “We are introducing a pilot programme to issue business visas…