Kazakhstan Financial News

Russia has sent two trains laden with coal to India via the International North-South Transport Corridor (INSTC), which connects Russia to India via Iran, according to Russia’s national railway company. A multimodal route that includes a railway, roadway network and seaports, the INSTC spans 7,200km (4,500 miles) from St. Petersburg to the port of Mumbai in India. The corridor is part of Russia’s push to find new transport routes in light of Western sanctions, which have forced it to shift trade flows from Europe to Asia and the Middle East, RT has reported. “For the first time, two trains with Kuzbass coal headed to India along the International North-South Transport Corridor. The trains set off from the Kemerovo region. They followed along the eastern branch of the INSTC through Kazakhstan and Turkmenistan to the Iranian port of Bandar Abbas,” Russian Railways said on Monday in its Telegram channel, RT reported. How INSTC can revolutionise India's trade The development of the INSTC, which connects Russia to India through Iran's Chabahar port, means a lot for India's trade. Now that Russia faces restrictions on sea trade due to the Ukraine war, the corridor assumes even more economic and strategic importance, especially when India sees it as an alternative to China's ambitious Belt and Road Initiative.

Nigerien military authorities have withdrawn the operating permit for a large uranium mine from the French company Orano

New Delhi:A Bengaluru-based Indian technology company is among at least 10 firms from several countries against whom Japan has imposed sanctions for allegedly helping Russia evade punitive economic measures.The actions against the companies including asset freeze and export bans were announced by the Japanese Foreign Ministry.The other companies belonged to China, Kazakhstan, Uzbekistan and the United Arab Emirates.The West and its allies have imposed strict punitive trade and economic sanctions against Russia over its invasion of Ukraine.Japan has introduced punitive measures under the Foreign Exchange and Foreign Trade Act, the Japanese foreign ministry said in a statement.It named the Indian company in the list of firms which will be facing sanctions from the Japanese government.Last week, Japanese Prime Minister Fumio Kishida said at the G7 summit in Italy that his government is imposing sanctions on companies and groups which are helping Russia evade economic sanctions.The G7 grouping has imposed a series of punitive sanctions against Russia including asset freeze for its invasion of Ukraine.Japan has already imposed punitive measures on a number of Russian companies.

Modi government in its third term might harden its posture against the neighbour with which relations have been hostage to heightened border disputes ever since skirmishes between Indian and Chinese forces along the border in 2020. PM Modi is likely to attend the Shanghai Cooperation Organisation (SCO) in Kazakhstan in the first week of July where he might run into China’s President Xi Jinping. Shortly before a possible meeting between the two leaders, India seems to be hardening its posture against China. The two meetings between Modi and Xi after the Galwan clashes at the G20 Summit at Bali in 2022 and the BRICS Summit in South Africa a year later failed to yield any positive results. Thousands of troops remain deployed on either side of the Sino-india border .

Kazakhstan’s First Deputy Foreign Minister Akan Rakhmetullin underscored the crucial role of the United Nations in addressing urgent global challenges ahead of the July 3-4 SCO Summit. He recently highlighted the high level of interaction between Kazakhstan and the UN over 32 years of cooperation.

The International Monetary Fund (IMF) has conducted a survey of 19 countries in the Middle East and Central Asia, exploring the adoption and potentials of central bank digital currencies (CBDCs).

Narendra Modi's global outreach in his third term is expected to begin with a 24-hour trip to Italy for the G7 summit on June 14 where he is an invitee. In subsequent months, Modi may visit Kazakhstan for the SCO summit (July 3-4), followed by BIMSTEC meet in Thailand (September), BRICS summit in Russia (October), G20 summit in Brazil (November) and a probable trip to New York in September for the UN General Assembly and Summit of Future.

The National Police of Ukraine have conducted a probe on a criminal call center ring that defrauded users by promising lucrative crypto investments.

initial public offering, launched Tuesday, would be the largest by a US company this year if it prices at the top of its range to raise $1.04 billion.When it comes to all IPOs on US exchanges this year, it wouldn’t even make the top three.Also Read | JPMorgan Chase's Jamie Dimon shares his morning routine: ‘I get up at 4.30, flip through five papers…’The largest such offerings to date are by companies domiciled outside the US: Viking Holdings Ltd. in Bermuda, Amer Sports Inc.

RIA Novosti.The development came three years after the Taliban returned to power in war-torn Afghanistan.ALSO READ: Afghanistan floods: Fifty people lost their lives due to heavy rainsSince 2003, the Taliban group has been designated as a terrorist outfit in Russia.“Kazakhstan has recently taken the decision, which we are also going to take, to remove them from the list of terrorist organisations," RIA Novosti quoted Russian Foreign Minister Sergei Lavrov as saying on Monday.At the end of 2023, Kazakhstan had removed the Taliban from its list of banned organisations.Despite international sanctions on the Taliban, Russia has fostered its ties with the government run by the banned outfit in Afghanistan.Moscow had also held multiple rounds of talks and boosted trade with Kabul.But, Russia has not recognised Afghanistan’s Taliban government officially yet.The state news agency TASS, citing Zamir Kabulov - director of the Second Asia Department at the Russian foreign ministry, reported that Russia’s foreign and justice ministries have reported to President Putin on the issue of removing the ban on the Taliban.ALSO READ: The Taliban warn journalists and experts against cooperating with Afghanistan International TVThe latest move by Russia could further boost diplomacy between Moscow and Kabul.According to RIA Novosti, Lavrov said Russia's decision was about recognising the realities on the ground.“They are the real power. We are not indifferent to Afghanistan.

Singapore and Central Asia’s biggest state Kazakhstan are the leading transit hubs in their regions. This is one of the reasons why the two countries are establishing close economic ties that can stimulate growth and find new business opportunities. This will also boost India’s role as a link country between SE Asia and Eurasia as well as the Chabahar Port where India has gained management rights for 10 years. Kazakhstan is developing a Trans-Caspian international transport route that will connect the vast markets of Asia and the EU. Kazakhstan's cooperation with Singapore, a major international transport and logistics center, can help both countries improve the efficiency of transport links in Asia. Singapore has arrangements with Eurasian Economic Union to boost economic presence in Eurasia. In a world with a new geopolitical alignment, security and consistency of supply chains have become more important than ever. In this regard, Kazakhstan has enormous potential for the supply of rare earth metals, the demand for which is growing every day due to the development of green energy. These metals are also widely used in high-tech devices and electronics, in the manufacture of batteries and magnets, according to experts.

Dammu Ravi, Secretary (Economic Relations) in the Ministry of External Affairs, represented India at the meeting of the SCO council of foreign ministers in Kazakhstan's capital Astana on Tuesday. One of the main items on the agenda were the comprehensive preparations for the upcoming meeting of the SCO Heads of States Council, which is to be held in July 1st week. Tuesday's meeting discussed preparations for the upcoming Summit of the SCO council of heads of state, reviewed ongoing cooperation in the SCO, and exchanged ideas on regional and global developments of common concern including extremism.

India will soon start negotiations for concluding a free trade agreement (FTA) with Russia-led Eurasian Economic Union (EAEU) that will give the country a smooth access to markets of five resource-rich post-Soviet states. Indian exporters from sectors such as engineering goods, electronics and agriculture will get a boost from the agreement, experts on the EAEU said. The EAEU comprises Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan.

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Mint on the impact of climate change in the Asia Pacific region. India accounts for most of the economic and human losses in South Asia region.

Mint, Alex Sinclair, GSMA's chief technology officer, said BharatGPT could be a potential solution. An initiative by Reliance Jio in collaboration with IIT Bombay, the generative AI (Gen AI) platform aims to serve speakers of 14-plus Indian languages, including Hindi. Sinclair said that other GSMA members, such as SK Telecom, Deutsche Telekom, and Singtel, are already sharing AI models in their respective languages.

liberalize the economy on May 10 aimed at ensuring freedom of entrepreneurship by developing competition, reducing state stakes in the economy, and decreasing business costs in a step that would encourage Indian private investors to explore the regional market by making Kazakhstan as a base. Firstly, it is envisaged to create a National Privatization Office at the Kazakh Agency for Protection and Promotion of Competition. This office will be responsible for developing the standards for state assets that are eligible for privatization and compiling a list of those assets.

tariff concessions under its proposed free trade agreement (FTA) talks with the five-member Eurasian Economic Union (EAEU). Engineering goods, electronics and agriculture are expected to benefit from the agreement and the government asked the industry to identify restrictions, if any, that they face in the five members of the EAEU including Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. «The two sides have met and discussed initiating formal talks for the pact,» an official said, adding that in the light of this development, inputs have been sought from industry on barriers and products in which the country wants to achieve self-reliance. New Delhi's concerns stem from the fact that India's exports to the union in April-January FY24 were $3.7 billion while imports were $51.7 billion due to crude oil imports from Russia. Moreover, the bloc has signed free trade pacts with China, Vietnam, Serbia and Iran, which could impact Indian industry's competitive position in any of the EAEU markets.

AP, Saltanat Nukenova, 31, was found dead in November at a restaurant owned by one of her husband's relatives. Kuandyk Bishimbayev, who is accused of torturing and killing her, initially denied any wrongdoing but admitted in court on Wednesday that he had beaten her, claiming her death was “unintentional". Bishimbayev's lawyers initially challenged medical evidence indicating that Nukenova died from repeated blows to the head.

Kazakhstan President Kassym-Jomart Tokayev. Kazakhstan has actively advocated at the UN for the condemnation of this inhumane act against civilians. Attempts to exploit international turbulence to promote radical ideologies and incite xenophobia are increasing, Tokayev noted in his recent speech at the Session of the Assembly of the People of Kazakhstan. Ethno-religious motives are being attributed to the geostrategic ambitions of states, framing them as inter-civilizational conflicts, the Kazakh President pointed out.

Pakistan has made a formal request to IMF for seeking the next bailout package in the range of USD 6 to USD 8 billion with the possibility of augmentation through climate financing, a media report said on Saturday. Cash-strapped Pakistan also requested to dispatch the International Monetary Fund (IMF) review mission next month to firm up details of the next bailout package for three years under the Extended Fund Facility (EFF). However, the exact size and timeframe of the new package will only be determined after evolving consensus on the major contours of the next programme in May 2024, Geo News reported from Washington.