KAZAKHSTAN NEWS
Oil leaps 4% after OPEC+ keeps output increase unchanged
Oil prices jumped by about 4% on Monday after producer group OPEC+ kept output increases in July at the same level as the previous two months.
Oil jumps 3% after OPEC+ keeps output increase unchanged
Oil prices jumped by about 3% on Monday after producer group OPEC+ kept output increases in July at the same level as the previous two months.
OPEC+ agrees July oil output hike of 411,000 bpd, sources say
OPEC+ nations have decided to increase oil production by 411,000 barrels per day for July, mirroring the increases seen in May and June. This decision comes as the group aims to regain market share and address instances of overproduction by certain members. While some members are increasing supply, adjustments are being made to compensate for past overproduction.
Oil prices set for weekly drop with tariff legal battles, OPEC+ in focus
Brent crude futures slipped 26 cents, or 0.41%, to $63.89 a barrel by 0104 GMT. U.S. West Texas Intermediate crude fell 27 cents, or 0.44%, to $60.67 a barrel. The Brent July futures contract is due to expire on Friday.
OPEC+ may flood market with more oil in July, risking weaker crude prices
OPEC+ is considering a significant oil supply increase of 411,000 barrels per day for July, a move that could exceed market needs and has already caused prices to fall. This potential hike signals a shift towards prioritizing market share over price defense, influenced by factors like internal quota adherence and external pressures.
Unlocking strategic investment opportunities in a key Eurasian economy
Kazakhstan is strategically transforming its economy through Baiterek Holding, attracting global investors with transparent, market-driven policies. By 2027, Baiterek will inject €18.3 billion into key sectors like housing and infrastructure, supported by a €1.8 billion annual capitalization plan. These initiatives aim to foster sustainable growth and modernize critical industries, creating a pipeline of opportunities.
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Oil rises 1% on reports Israel preparing strike on Iranian nuclear facilities
Oil prices saw a rise following reports of a potential Israeli strike on Iranian nuclear facilities. This development has sparked fears of supply disruptions in the Middle East. Brent crude futures increased. US crude futures also experienced a surge. Concerns exist about Iran potentially blocking the Strait of Hormuz. US crude oil stocks rose, while gasoline and distillate inventories fell.
Russia scraps Taliban's 'terror' label amid warming ties
Russia's Supreme Court has removed the Taliban's designation as a terrorist organization, signaling a shift towards closer ties with Afghanistan's current leadership. This symbolic move aims to foster economic partnerships and collaboration in combating terrorism, particularly against groups like Islamic State-Khorasan.
Kazakhstan's oil output down in early April, still above OPEC+ quota, source says
Kazakhstan's oil output experienced a decrease in early April compared to the March average, primarily due to reduced production at the Tengiz field. Despite this decline, the country's output remains above its OPEC+ quota, a point of contention with other members like Saudi Arabia. Meanwhile, CPC oil exports saw a slight increase in March despite challenges with pipeline operations.
Trump's 27% tariffs put pressure on India. Is New Delhi ready for the impact?
President Trump imposed a 27% tariff on Indian imports, one of the highest on major US trading partners. This follows his criticism of India’s tariffs and their trade imbalance. Despite efforts by India to reduce tariffs and make concessions, the levies pressure India to finalize a trade deal. Economists suggest the tariff's impact will be modest, with India continuing strong economic growth.
US holds separate talks with Russians after meeting Ukrainians to discuss potential ceasefire
US negotiators are working on a partial ceasefire in Ukraine while addressing differing views between Kyiv and Moscow. Talks cover protecting energy infrastructure and commercial shipping in the Black Sea. Meanwhile, Russia and Ukraine continue launching attacks, and Ukraine faces a massive cyberattack on its railways.
Indians with visa free provision & daily flights to Kazakhstan can find Aktobe attractive destination
Aktobe, a Kazakh city, blends history, nature, and modernity. It offers visa-free travel for Indians. Three daily flights connect to this industrial hub. The city features chalk hills and a diverse population. Aktobe's Unity and Accord Boulevard symbolizes cultural harmony. The artificial Volchiy Waterfall and Aktolagai Plateau are natural attractions. The city is accessible by air, rail, and road.
'Kazakhstan Born Bold’ campaign aims to increase Indian FDI; offer incentives
Kazakhstan under its ‘Kazakhstan Born Bold’ campaign seeks to attract Indian investments by promoting a dynamic business environment and offering incentives like import duty exemption and subsidies. The campaign targets key sectors such as food processing, pharmaceuticals, and ICT, aiming to make Kazakhstan a primary hub for investment and innovation in Central Asia.
India-Kazakhstan business partnership in manufacturing sector gets a big boost
Indian and Kazakh business leaders convened at the India-Kazakhstan Business Conference in Astana to explore partnerships in electronics and engineering. Ambassador Prasad highlighted India's potential in these sectors, emphasizing opportunities in digital transformation, infrastructure development, and manufacturing. The conference aimed to boost bilateral trade and foster joint ventures between companies from both nations.
Capsule carrying 2 Russians, 1 American returns to Earth from space station
A Soyuz capsule carrying two Russian astronauts, Oleg Kononenko and Nikolai Chub, and American astronaut Tracy Dyson successfully landed in Kazakhstan after undocking from the International Space Station.
SCO can play a key role in promoting peace in various parts of the world: Guterres
UN Secretary General António Guterres highlighted the SCO's role in promoting peace, economic integration, and regional security. He said Kazakhstan's presidency of the Shanghai Cooperation Organization (SCO) has focused on enhancing regional cooperation and addressing issues like development, climate change, and trade.
Kazakhstan’s strategic investment plan aims to boost economic growth
Kazakhstan, Central Asia’s largest state rich in resources, is actively seeking foreign investments and global brands. Gabidulla Ospankulov, Chairman of the Investment Committee of the Kazakh Ministry of Foreign Affairs, outlined strategies to attract $150 billion in investments by 2029, aiming to elevate the national economy to $450 billion. Measures include state preferences, anti-corruption efforts, and reducing bureaucratic barriers.
Kazakhstan seeks higher FDI from India as foreign investments increase in the country
The first half of 2023 saw a $13.3 billion influx of foreign direct investment (FDI) into Kazakhstan. The Netherlands, the US, Switzerland, Russia, China, South Korea, Belgium, France, UAE, and Luxembourg emerged as the top contributors. Astana is keen for increased investments by India.
Kazakhstan to launch new route to India by inaugurating flights to Mumbai
Central Asia's biggest state will also launch flights to New York, Shanghai, Singapore, and Tokyo in 2024-2025, said Kazakh Minister of Transport Marat Karabayev at a December 19 government meeting.
Kazakhstan announces new measures to attract FDI including from India
As stipulated in the decree, the Investment Promotion Council will have the power to make binding decisions on both central and local government bodies and entities in the quasi-public sector.
Kazakhstan says last year’s violent incidents were an attempted coup
Criminal cases against the former heads of three regional NSC departments, the Almaty Region Police Department, and others have been sent to the courts. Litigations are underway.
Kazakh President announces action plan to address damages caused by terrorists
The President’s address followed an unprecedented outbreak of violence which took place across Kazakhstan last week.
Kazakhstan says 164 people killed during unrest: Report
Demonstrations began a week ago against a fuel price rise before exploding into a wider protest against the government.
Foreign trained terror groups creating armed aggression: Kazakhstan
On January 5, by his Decrees the President of the Republic of Kazakhstan, Kassym-JomartTokayev declared a state of emergency across the entire territory of the country.
Dozens killed in Kazakhstan unrest, police say
The reported attempts to storm the buildings came after widespread unrest in the city on Wednesday, including seizure of the mayor's building, which was set on fire.
Strategic partnership with India growing dynamically: Kazakhstan FM
The Kazakhstan Foreign Minister recalled that the inaugural conference held in in 2019, and the second meeting held virtually in 2020, provided a great platform to an in-depth discussion on topical issues of regional and global agenda, thus facilitating a stronger dialogue and boosting regional connectivity.
Kazakhstan first President Nursultan Nazarbayev sets example by leading from front in tackling Covid-19
First President of Kazakhstan, Nursultan Nazarbayev, led the nation through many difficult and critical challenges during almost three decades since Kazakhstan’s independence. It was therefore most timely and reassuring that he issued a statement, providing support and guidance on how Kazakhstan should continue to approach the current situation.
Eight dead, 40 hurt in Kazakhstan clashes
Eight people have been killed, dozens hurt and property burned during clashes in southern Kazakhstan, prompting concern Saturday from authorities who portray the country as a beacon of stability.
Kazakhstan's new concept for development of tourism to boost the yet underdeveloped sector
Kazakhstan presents an excellent location, which in addition to its unique steppes, lakes and hills, also offers snow clad mountains and ski slopes.
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