Kazakhstan

The Baikonur Report 30-Jun-2019
Top 3 Company Headlines
YDA $286m for 2 multi-regional hospitals (Astana Times 17-Jun
Baiterek Holding, Euler Hermes $1.1bn export credit insurance deal (Astana Times 24-Jun
Lives'Talk and Samsung Electronics launch livestock GPS tracking project (Times CA 28-Jun
Top 3 Macro and Risk Headlines
Kassym-Jomart Tokayev elected president with 70.96% of vote (Astana Times 11-Jun
Voting day marred by mass detentions (Eurasianet 09-Jun)
Kazakhstan ends bank bailouts, writes off people's debts instead (Al Jazeera 26-Jun
The Baikonur’s View 
Kassym-Jomart Tokayev won the presidential elections as expected. A wave of protests has erupted over the country. Protesters were detained and clashed with police. Kazakhstan seems to favour economic growth over political development, namely freedom of expression and an active opposition, for example.  However, the Baikonur sees the greater political participation as positive which might help the transition to a full and transparent democracy and lead Kazakhstan into a new political era. The international community has been aware of the crackdowns. The Baikonur senses pressure for political change on the country to keep up positive foreign relations.
Fun Fact: Camel milk ice cream production launched in Kyzylorda (Kazakh-tv 24-Jun)


The Baikonur Report 31-May-2019
Top 3 Company Headlines
AIFC, Bitfury to jointly implement blockchain projects (Astana Times 21-May
Tyson eyes multibillion-dollar bet on Kazakh beef as route to China (Financial Times 23-May
Kazatomprom sells 75% of solar manufacturing business (Pv Magazine 20-May)
Top 3 Macro and Risk Headlines
US-China trade wars could benefit KZ (Caspian News 30-May
Protests in KZ demonstrate democratic dismay (The Diplomat 03-May
Kazakh ex-president collects yet another title, honorary senator (RFERL 30-May
The Baikonur’s View 
Increasingly, people are starting to question the apparently democratic elections set to take place in June. The population is raising concerns about being left out of national decision making processes. Demonstrations are largely non-violent. The Baikonur does not expect any major disruptions to take place. One thing, however, is clear: the people want change which they are not likely to get in the near future.
Economically the country is performing well. Exports, especially in the agricultural sector, are steadily increasing. The Baikonur is pleased to see diversification efforts which will be crucial in achieving the goal of becoming listed among the 30 most developed countries by 2050. 
Fun Fact: A man in Kazakhstan held up a blank sign to see if he’d be detained. He was. (New York Times 09-May)
 


The Baikonur Report 30-Apr-2019
Top 3 Company Headlines
Halyk Bank to provide women entrepreneurs KZT1bn in loans (Astana Times 03-Apr
Samruk-Kazyna net KZT343bn in Q1 (Kazakhstan Newsline 30-Apr)
Baiterek Holding joins World Bank Group’s Global Initiative (Baiterek 15-Apr)
Top 3 Macro and Risk Headlines
Succession clears roadblock to foreign investment (Financial Times 16-Apr
Kazakhstan’s Business Roadmap 2020 financing increased 57% (Astana Times 10-Apr
Tech modernisation of customs administration (UNCTAD 17-Apr)
The Baikonur's View
Political uncertainty persists but a sigh of relief comes with early snap elections in June. The Baikonur expects Tokayev’s interim presidency to continue. Time for new candidates to organise is limited and Nazarbayev’s daughter is unlikely to run. Tokayev, who has served with the ruling party, Nur Otan, for 25 years is likely to maintain major foreign and domestic policies if re-elected.
Large expansion in trade cooperation with Western European and East Asian countries strengthens Kazakhstan’s role as a strategic trading partner in Central Asia. The Baikonur expects a domino effect of yet more mutually beneficial cooperation.
Fun Fact: Hydroponic greenhouses supply Almaty, Nur-Sultan with fresh pesto (Astana Times 28-Apr


The Baikonur Report 31-Mar-2019

Top 3 Company Headlines
Microsoft Kazakhstan to assist domestic companies integrate AI technology (Astana Times 18-Mar)
Kostanai car manufacturer expanding export markets (Kazakh-tv 19-Mar)
Goldman Sachs Group boosts KAZ Minerals (LON:KAZ) price target to GBX 600 (PR 22-Mar)
Top 3 Macro and Risk Headlines
President Nazarbayev to step down after three decades (Financial Times 19-Mar)
Central bank keeps rate at 9.25% (Reuters 04-Mar)
S&P affirms Kazakhstan’s credit rating at BBB (Astana Times 18-Mar)
The Baikonur's View
The sudden resignation of President Nazarbayev came as a surprise. While giving way to a new generation of leaders, he retains control in key positions. The Baikonur believes major changes are unlikely. Foreign policy remains unchanged. 
Investment from France in solar energy and loans from the ADB are starting to pave a way for the sustainable energy sector. The Baikonur sees new opportunities within the sector and is optimistic. 
Fun Fact: WHO studies reveal Kazakhstan has among the highest levels of salt intake globally (WHO 07-Mar)