Foreign media on Kazakhstan: Kaspi listing on Nasdaq, talks on Syria in Astana, Kazakhstan as transit hub
From Kaspi.kz listing on Nasdaq and the new round of talks on Syria under the Astana Process format to the efforts of Kazakhstan to become a transit hub, Kazinform News Agency presents a review of foreign media coverage about Kazakhstan this week.
Bloomberg: Mobile App Kaspi.kz’s US IPO Raises $1 Billion for Investors
Bloomberg published an article on January 19 about the listing of Kaspi.kz, Kazakhstan’s fintech firm, on Nasdaq and $1 billion that the company raised in an upsized initial public offering.
“The investors sold 11.3 million American depositary shares of Kaspi.kz for $92 apiece, according to a statement Friday confirming an earlier report by Bloomberg News. The price is a 5.3% discount from the closing level on Thursday of Kaspi.kz’s London-traded global depositary receipts,” writes Bloomberg.
In Kazakhstan, Kaspi.kz offers a super app, catering to consumers with a wide array of services, and the Kaspi Pay Super App is designed for merchants and entrepreneurs. As of September 30, the consumer app boasted an average of 13.5 million monthly active users, as disclosed in the filing.
Kaspi.kz is listed on both the Kazakhstan Stock Exchange (KASE) and the Astana International Exchange (AIX). The company disclosed a net income of $1.27 billion, derived from a total revenue of $2.83 billion for the nine-month period ending on September 30.
Bloomberg writes that Kaspi.kz has a market value of about $18 billion.
La Prensa Latina: Kazakhstan looks to strengthen position as transit country between Asia, Europe
La Prensa Latina, a bilingual Spanish news website, published an article about Kazakhstan’s efforts to become a transit hub, citing the country’s Deputy Foreign Minister Roman Vassilenko.
Much of that effort relates to the development of the Trans-Caspian International Transport Route (TITR), through which cargo bypasses Russia.
“Approximately 85% of all land traffic from China to Europe passes through Kazakhstan,” said Vassilenko, as quoted by the agency.
In 2023, the total flow of cargo passing through Kazakhstan totaled 895 million tons.
Geopolitical turmoil makes countries realize that “dependence on a single source or route of supplies represents a risk to their national security, so diversification becomes a priority.”
The Guardian: Powerful earthquake hits China-Kyrgyzstan border
The Guardian reported on January 23 about a 7.0-magnitude earthquake that struck along the China-Kyrgyzstan border, which caused powerful and long-lasting tremors in Kazakhstan’s largest city, Almaty.
“Tremors were felt as far away as the neighboring countries Kyrgyzstan and Kazakhstan. In the Kazakhstan city of Almaty, people left their homes to seek refuge in the street after the quake caused walls to shake and furniture to shift,” wrote The Guardian.
Strong tremors were also felt in the Indian capital, New Delhi.
Yeni Şafak: 8 people hospitalized in Kazakhstan following earthquake
Yeni Şafak, a Turkish daily newspaper, reported on January 23 about the earthquake that hit Almaty, Kazakhstan’s largest city.
“Eight people were hospitalized in Kazakhstan's city of Almaty after an earthquake, the country’s Health Ministry said Tuesday. Forty-four people sought medical assistance for injuries following a series of tremors that shook the former Kazakh capital last night, according to a statement,” writes the newspaper.
Anadolu Agency: Astana format on Syrian settlement convenes in Kazakh capital
Türkiye’s Anadolu Agency published an article on January 24 about a new round of talks on the Syrian settlement under the Astana Process.
“The participants of the Astana format, which includes Iran, Russia, Syria, Türkiye, and the UN, gathered for their 21st meeting to discuss the impact of the situation in Gaza on Syria in the wake of fresh attacks by Israel. Representatives of Jordan, Iraq and Lebanon, the Office of the UN High Commissioner for Refugees, and the International Committee of the Red Cross are expected to participate as observers,” wrote the agency.
The new meeting was held in accordance with the collective appeal of the guarantor countries of the format.
Upstream Online: Eni executive to lead largest offshore Kazakhstan oil development
Upstream, an independent oil and gas industry upstream sector weekly newspaper and a daily internet news site headquartered in Oslo published an article on January 23 that Eni, an Italian energy company, has relocated a high-ranking executive between two of Kazakhstan's major oil and gas projects, both of which the company has significant ownership interests in.
“Giancarlo Ruiu is set to be transferred from Kazakhstan’s second largest onshore oil and gas development project, Karachaganak, to take on the post of managing director at the country’s top offshore hydrocarbon development, Kashagan in March this year. Both projects are operated under production sharing agreements with the Kazakh government and are set for multibillion-dollar upgrade and expansion programs, with Kashagan aiming to increase hydrocarbon production and Karachaganak aiming to maintain plateau output,” reads the article.
Ruiu will replace Olivier Lazare, who has led the project since June 2021.
Time Out Abu Dhabi: Abu Dhabi to Kazakhstan: Wizz Air launches new route
Time Out, a website serving as the guide to the finest art and entertainment, culinary experiences, attractions, hotels, and activities in the world’s largest cities, reported on January 22 about the launch of flights by Wizz Air connecting Abu Dhabi and Kazakhstan’s Turkistan.
“Here’s great news if you have Central Asia on your travel bucket list. Wizz Air Abu Dhabi has launched a new route from Abu Dhabi to Kazakhstan, further connecting the Middle East to the Central Asian region. The low-fare national airline of the UAE now connects budget fliers from Abu Dhabi to Turkistan, making it the third city in Kazakhstan, connected via direct flights,” writes Time Out.
It quotes Johan Eidhagen, managing director of Wizz Air Abu Dhabi, who said the company is “delighted to expand network” in Kazakhstan. Turkistan becomes its sixth Central Asian destination and the third one in Kazakhstan.
El País: El Infiernito, Candi Sukuh and other secret sacred sites to find spiritual connection
El País, a Spanish-language daily newspaper in Spain, published an article on January 19, featuring 12 spots recommended by American photographer Martin Gray in his latest book, “Secret Sacred Sites.”
Gray has spent 40 years traveling the world in search of mystical enclaves. One of the 12 spots in the article is Kazakhstan’s Khoja Ahmed Yasawi mausoleum located in Turkistan.
“Travelers considering Kazakhstan may be interested to know that the south of the country is home to the mausoleum of Khoja Ahmed Yasawi, an unfinished building located in the city of Turkistan, and the first UNESCO World Heritage Site on Kazakh territory,” writes the Spanish media.
This is how Gray describes the site, “Tamerlane, who ruled the area as part of the vast Timurid Empire, commissioned the construction of this building in 1389 to replace a smaller 12th-century mausoleum of the famous Turkic poet and Sufi mystic Khoja Ahmed Yaswvi (1093-1166).”
