Revival of the Aral Sea: Kazakh and World Efforts to Restore the Island Sea
The Aral Sea has a grand history in Kazakhstan and the Central Asian region and was once one of the four largest lakes in the world, covering 26,300 square miles with Kazakhstan to the north and Uzbekistan to the south. Its name means “Island Sea” as this water body is surrounded by the forbidding deserts…
Kazakhstan Is Set to Create New Domestic-Service Airline
Kazakhstan recently announced plans to create a new airline to serve domestic routes that is expected to increase the country’s population mobility and boost intra-regional commerce. The new service will be called Air Kazakhstan and is expected to include 10 78-seat Bombardier Dash 8 Q400 turboprop-powered aircraft, Umirzak Shukeyev, chairman of the board of the…
Investors See Risk, but Stay Put in Wake of Tenge Devaluation
The National Bank of Kazakhstan’s recent decision to devalue the tenge by 19 percent was an unwelcome surprise for institutional investors and the local market. “Most investors were caught off guard. These kinds of moves by the central bank, made without a warning, naturally add a greater element of risk and frustration when it comes…
Rare Earths: A Rare Opportunity for Kazakhstan
The global market for rare earth elements used in the production of cell phones, flat screens, electric cars and other technology is valued at $3-5 billion and demand is expected to double by 2020. And some say Kazakhstan is in a prime position to capitalise on this rising global market. Rare earth elements (REEs), or…
