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Central banks ramp up domestic gold purchases, often sourcing from local mines

Central banks ramp up domestic gold purchases, often sourcing from local mines

Over half of central banks now source gold directly from local mines using domestic currencies – bypassing traditional international markets – to cut costs and support local economies. This comes amid a 27 percent year-to-date surge in global gold...

Development Bank of Kazakhstan Places Dollar and Tenge Eurobonds on International Markets

Development Bank of Kazakhstan Places Dollar and Tenge Eurobonds on International Markets

ASTANA – The Development Bank of Kazakhstan has placed two tranches of Eurobonds on international capital markets, including a $200 million tap of its April-issued dollar bonds and a new offering denominated in Kazakh tenge. Photo credit:...

Kazakhstan Creates Khorgos – Eastern Gate New Special Economic Zone

Kazakhstan Creates Khorgos – Eastern Gate New Special Economic Zone

ASTANA – Kazakhstan has established the Khorgos – Eastern Gate Special Economic Zone (SEZ), with its regulations and target indicators approved, according to a government resolution dated July 1. Photo credit: gov.kz Click to see the map in full...

AD Ports Group, Kazakhstan Railways commence operations of GulfLink joint venture

AD Ports Group announced today the commencement of operations of its Central Asian logistics joint venture, GulfLink Ltd., with KTZ Express, the freight arm of Kazakhstan Railways. GulfLink, 51% percent owned by AD Ports Group, and 49% by KTZ...

Bank of Russia governor insists buying Bitcoin is not on its agenda

Bank of Russia governor insists buying Bitcoin is not on its agenda

The Bank of Russia is not considering investments in cryptocurrencies, its governor has indicated, despite Bitcoin reserves gaining popularity with monetary authorities around the world. Russia’s main financial regulator remains opposed to using...

AP Business SummaryBrief at 7:27 a.m. EDT

Trump's trade blitz produces few deals but lots of uncertainty WASHINGTON (AP) — President Donald Trump and his advisers promised a lightning round of global trade negotiations with dozens of countries back in April. White House trade adviser...

Trump confirms August 1 tariffs on key trade partners

Trump confirms August 1 tariffs on key trade partners

Japanese Prime Minister Shigeru Ishiba has responded to a letter from U.S. President Donald Trump threatening higher import duties unless a new trade agreement is reached, reaffirming Japan's commitment to continued negotiations. Speaking on...

Kazakhstan pledges $500 million investment in Torghundi–Herat railway project

Kazakhstan pledges $500 million investment in Torghundi–Herat railway project

Mullah Abdul Ghani Baradar, Deputy Prime Minister for Economic Affairs, met on Friday with the Prime Minister of Kazakhstan Olzhas Bektenov in Khankendi, Azerbaijan, where both sides discussed political, economic, and trade issues between...

Kazakhstan Railways Launches Major Passenger Transport And Infrastructure Upgrade

Kazakhstan Railways Launches Major Passenger Transport And Infrastructure Upgrade

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, July 5. Kazakhstan Railways is implementing a large-scale program to upgrade passenger transport and railway infrastructure, Trend reports. According to the information, over the past four years, the...

AP Business SummaryBrief at 6:26 a.m. EDT

Trump's trade blitz produces few deals but lots of uncertainty WASHINGTON (AP) — President Donald Trump and his advisers promised a lightning round of global trade negotiations with dozens of countries back in April. White House trade adviser...

Kazakhstan Expands Renewable Energy and Digital Infrastructure

Kazakhstan Expands Renewable Energy and Digital Infrastructure

ASTANA – Two hundred and thirty power plants are operating in Kazakhstan, including 156 renewable energy facilities with a total installed capacity of over three gigawatts (GW), said Energy Minister Yerlan Akkenzhenov during a July 4 meeting...

Kazakhstan, Azerbaijan, and Uzbekistan Establish Green Corridor Union

Kazakhstan, Azerbaijan, and Uzbekistan Establish Green Corridor Union

ASTANA – Azerenergy, Kazakhstan Electricity Grid Operating Company (KEGOC), and National Electric Networks of Uzbekistan have jointly established a new venture, the Green Corridor Union, which will be headquartered in Baku, according to the...

Trump Widens Trade War With 50% Copper Tariff, Threatens 200% Duties on Drugs and More Tariff Hikes

Trump Widens Trade War With 50% Copper Tariff, Threatens 200% Duties on Drugs and More Tariff Hikes

President Donald Trump on Tuesday escalated his global trade offensive, announcing a 50% tariff on imported copper and revealing plans for steep new duties on semiconductors and pharmaceuticals, as his administration pushes ahead with what he...

Trump teases announcements on trade negotiations with seven countries

Trump teases announcements on trade negotiations with seven countries

President Donald Trump announced his administration will impose a 50% tariff on imported copper, marking a new ecalation in his broader levy policy. President Trump teased seemingly major announcements related to trade negotiations with at least...

Steep copper tariffs in store as Trump broadens trade war

Steep copper tariffs in store as Trump broadens trade war

U.S. President Donald Trump on Tuesday said he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals, broadening his trade war that has rattled markets worldwide. One day after...

Lavrov criticizes IMF, World Bank for favoring Ukraine over Africa

Lavrov criticizes IMF, World Bank for favoring Ukraine over Africa

(MENAFN) Russian Foreign Minister Sergey Lavrov has sharply criticized the International Monetary Fund (IMF) and the World Bank for what he described as a grossly unequal distribution of financial aid, claiming Ukraine has received more support...

Trump notifies Tunisia of new tariffs via punitive trade letters

Trump notifies Tunisia of new tariffs via punitive trade letters

Tunisia has received official notice from U.S. President Donald Trump regarding new tariffs through what are being described as punitive “trade letters.” Tunisia is one of more than a dozen countries targeted as part of Trump’s strategy to...

Iran Releases Currency Exchange Rates For July 9

Iran Releases Currency Exchange Rates For July 9

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 9.​ The Central Bank of Iran (CBI) has released the official exchange rates for foreign currencies as of July 9, Trend reports. According to the rates announced by the CBI, the value of 28...

Bolivian President urges nations to abandon US dollar for trade

Bolivian President urges nations to abandon US dollar for trade

Bolivian President Luis Arce has issued a sharp call for countries around the world to move away from using the US dollar in international trade, stating that the era of dominance by a single country-namely the United States-has come to an end....

Tajikistan, Kazakhstan discuss issues of cooperation

Tajikistan, Kazakhstan discuss issues of cooperation

AKIPRESS.COM - Ambassador of Tajikistan to Kazakhstan Khairullo Ibodzoda met with head of Astana Jenis Kasymbek on July 8, the Foreign Ministry of Tajikistan reported. The parties discussed issues related to the development and expansion of...

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