• KZT/USD = 0.00223
  • TJS/USD = 0.10800
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00223
  • TJS/USD = 0.10800
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00223
  • TJS/USD = 0.10800
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00223
  • TJS/USD = 0.10800
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00223
  • TJS/USD = 0.10800
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00223
  • TJS/USD = 0.10800
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00223
  • TJS/USD = 0.10800
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00223
  • TJS/USD = 0.10800
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
20 September 2026

Viewing results 7 - 12 of 1527

For the CSTO, Afghanistan Might Be the Last Credible Threat

The Russian-led Collective Security Treaty Organization is conducting its “Rubezh (Frontier) 2026” military exercises from September 12-19. Those exercises are designed with Afghanistan in mind, a country that the CSTO has been talking about frequently in 2026, and also one where militant groups pose a shared threat to its members. And even the Taliban are no longer viewed as the threat they once were. Frontier 2026 The Frontier 2026 exercises are taking place at the Koktal training ground in southeastern Kazakhstan’s Zhetysu Province. The CSTO’s Rapid Deployment Force is practicing to repel cross-border incursions in mountain and desert terrain. The exercises come this time as concerns about infiltration by militants in Afghanistan into CIS territory are increasing. Russian Defense Minister Andrei Belousov said on September 8 that Russia is paying special attention to strengthening Tajikistan’s border with Afghanistan. The Tajik authorities have been calling for additional aid for the country’s border forces since a series of attacks from Afghanistan in November 2025 left five Chinese workers in southern Tajikistan dead, followed by an attack in December that killed two Tajik border guards. Tajikistan has regularly asked for international help in guarding its frontier with Afghanistan since independence in 1991. But after the violence at the end of 2025, the Tajik government appealed especially to its fellow members in the CSTO for increased assistance. CSTO Secretary General Taalatbek Masadykov said at the end of August that the first shipment of weapons and equipment would be sent to Tajikistan this autumn. Raison D’être The Collective Security Treaty was signed in Tashkent, Uzbekistan, in 1992 by representatives from Armenia, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan. In 1993, Azerbaijan, Belarus, and Georgia joined. The purpose was simple. If any of the member states was attacked by an external enemy, that state could request aid, including military assistance, from the other members. In the early 1990s, there were potential enemies for the Treaty members in practically every direction. The Soviet Union had collapsed in late 1991. There were questions about how the former Communist Bloc countries and their new Western allies might act. The theocratic regime in Iran was a possible threat to the South Caucasus and Central Asia, and the latter region had unstable Afghanistan to worry about also. China was a concern for Central Asia and Russia. Back then, banding together made sense for the nine newly independent states that signed the treaty. When Azerbaijan, Georgia, and Uzbekistan dropped out in 1999, it appeared the Collective Security Treaty was on the brink of becoming irrelevant. After Vladimir Putin became Russia’s president, he put a new emphasis on a security bloc within the CIS, and in 2002, the remaining six treaty members signed a new charter. However, now, in 2026, the list of the CSTO’s potential external threats is greatly reduced. Far from being a security concern, China is now a leading trade partner for Russia, Kazakhstan, Kyrgyzstan, and Tajikistan, and provides military assistance to all four countries. Iran’s relations with the West remain...

How Almaty and Astana Built Central Asia’s Deepest Business Ecosystem

Every region has cities that pull people and money toward them. New York, London, Dubai, and Singapore became places where ambitious people went to make careers, companies went to find talent, and investors went to put money to work. Once that concentration takes hold, it feeds on itself. More companies create more jobs, more talent attracts more companies, and banks, lawyers, consultants, airlines, schools and restaurants grow around them. Central Asia has developed its own version of that gravitational pull. Almaty has long been the region’s main commercial center and was Kazakhstan’s capital until 1997. It remains effectively tethered to Astana by intense passenger traffic and the constant movement of businesspeople, officials and professionals between the two cities. Astana has grown around government, international finance, technology and diplomacy. Together, they function as a two-city economic and political engine. The numbers explain much of this. The Times of Central Asia’s Central Asia Balance Sheet puts Kazakhstan at $306.2 billion of the five Central Asian economies combined $543.4 billion in GDP, or 56.4%. Its share of accumulated foreign investment is even larger. The Balance Sheet puts Central Asia’s inward foreign direct investment (FDI) stock at $235.6 billion at the end of 2025, of which Kazakhstan held $156.4 billion, or 66.4%. FDI stock represents capital accumulated over years rather than announced agreements or one unusually strong year of inflows. Almaty and Astana Play Different Roles Almaty accounted for 22.7% of Kazakhstan’s GDP in 2025 and Astana another 12.3%, putting their economies at roughly $69 billion and $38 billion respectively. Together they produced around $107 billion. Almaty is Kazakhstan’s main business and financial center. Kazakhstan’s largest banks, investment firms, multinational offices, lawyers, accountants and consultants are concentrated there. The Globalization and World Cities research network (GaWC) placed Almaty in its Gamma+ group in 2024, alongside Austin, Antwerp, and Kuwait City. GaWC bases the classification on the networks of major international business-service firms, offering a measure of how closely a city is connected to the global corporate economy. Consistent with that ranking, multinational companies have also chosen Almaty as a base for regional operations. Mars runs its eleven-country regional headquarters from Almaty, covering all five Central Asian states, the South Caucasus, Belarus, Mongolia, and Turkey. Mastercard describes Almaty as a regional hub and the heart of its consulting operations for the CIS, Central and Eastern Europe. Kazakhstan is unusual in Central Asia in having two major hubs. In functional terms, Astana complements Almaty much as Washington D.C. complements New York: Almaty is the deeper commercial center, while Astana concentrates government, sovereign institutions, diplomacy, and national policy. Astana has also developed regional corporate operations of its own. Alstom runs its Western and Central Asia cluster from the capital, and Mercuria opened a regional office there in 2026 headed by its CEO for Central Asia and the Caspian region. U.S. rail company Wabtec has made Astana a regional locomotive production and engineering base, reinforced by its $4.2 billion agreement as Kazakhstan expands its Middle Corridor links to...

Pannier and Hillard’s Spotlight on Central Asia: New Episode Out Now

As Managing Editor of The Times of Central Asia, I’m delighted that, in partnership with the Oxus Society for Central Asian Affairs, we are the home of the Spotlight on Central Asia podcast. Chaired by seasoned broadcasters Bruce Pannier of RFE/RL’s long-running Majlis podcast and Michael Hillard of The Red Line, each fortnightly instalment will take you on a deep dive into the latest news, developments, security issues, and social trends across an increasingly pivotal region. This week, the team covers world leaders arriving in Bishkek for the SCO summit, one Central Asian state proposing new martial-law amendments that could concentrate enormous power in just a handful of institutions during a national crisis, Tashiev's charges being amended yet again as questions continue to grow over his political future, a Central Asian state striking an unusual military deal with a European partner, the Turkmen Border Service holding talks with its Afghan counterparts, the completion of a major new railway line in Kazakhstan, and plans to build what could become the tallest tower in the region. Before turning to our main story this week, where we look at the World Nomad Games in Kyrgyzstan and what the event tells us about the country, the region, and the way Central Asia is presenting itself to the wider world. - Jonathan Campion (British Alysh Competitor) - Stephen M. Bland (The Times of Central Asia) - K. Krombie (The Times of Central Asia) Special guests: Stephen M. Bland, Managing Editor at TCA; K. Krombie, Senior Editor at TCA, both of whom covered the event on the ground; and Jonathan Campion, who competed for Team GB in the Alysh Wrestling.

Tokayev Meets U.S. Envoy Sergio Gor on Sidelines of BRICS Summit

India hosted the 18th BRICS summit in New Delhi on September 12–13. Kazakhstan and Uzbekistan are among the partner countries of this international grouping, which began meeting in 2006 and held its first summit in 2009. Uzbekistan was represented by a delegation headed by Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov. Kazakhstan’s delegation was led by President Kassym-Jomart Tokayev. On Saturday, September 12, the Kazakh president met on the sidelines of the summit with Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Sergio Gor, the U.S. president’s special envoy for South and Central Asia. During his meeting with the crown prince, they discussed economic and investment cooperation. In 2025, the United Arab Emirates ranked among Kazakhstan’s four largest foreign investors. Foreign direct investment from the Emirates totaled $1.6 billion. In January–March 2026, bilateral trade between Kazakhstan and the UAE amounted to $45.8 million. Over the past 20 years, Emirati investment in Kazakhstan has exceeded $7 billion, including around $3 billion over the past two and a half years. That same day, President Tokayev met with Sergio Gor, the U.S. president’s special envoy for South and Central Asia. Gor delivered a personal message from President Donald Trump congratulating Tokayev ahead of the 35th anniversary of Kazakhstan’s independence. They discussed the development of the Kazakhstan-U.S. enhanced strategic partnership, including cooperation in artificial intelligence and digitalization. According to the official readout, they also discussed the Kazakh president’s planned participation in the G20 summit, scheduled to take place in Miami in December 2026. Tokayev said: “I am currently preparing to take part in the G20 Summit in Miami. I believe this will also be a good opportunity to discuss the issues on the bilateral agenda. We prefer not fine words, but tangible results and practical steps to advance our mutual cooperation.” Tokayev also reaffirmed his invitation for President Trump to visit Kazakhstan. Contacts between senior Central Asian and U.S. officials have intensified. The U.S. Embassy in Bishkek reported on September 2 that Gor had met with Tokayev and other regional leaders in Kyrgyzstan. In June, Gor met with Kazakhstan’s foreign minister. Also in June, Tokayev met with Ben Black, chief executive officer of the U.S. International Development Finance Corporation (DFC), as part of Astana’s efforts to expand economic cooperation with Washington and attract more strategic investment. On July 10, Tokayev spoke by phone with President Trump. Another meeting of the secretariat of the C5+1 framework for U.S.-Central Asia cooperation took place in Ashgabat on September 9. Gor serves as both the U.S. ambassador to India and the U.S. president’s special envoy for South and Central Asia. Also on Saturday, Tokayev had an informal meeting with Russian President Vladimir Putin in New Delhi, at the Russian leader’s residence during his visit to India. Reports suggested the meeting was unplanned. No details of their discussion were released. On Sunday, September 13, President Kassym-Jomart Tokayev delivered a speech at the plenary session of the BRICS Outreach Summit in New Delhi, focusing on the theme of "Strengthening Resilience, Innovation, Cooperation, and Stability." In his speech, Tokayev noted: “Last year, the volume of transit cargo transportation...

Kazakhstan’s Elena Rybakina Wins US Open Ahead of World No. 1 Debut

Kazakhstan’s Elena Rybakina has won the US Open women’s singles title, defeating Aryna Sabalenka 6-4, 5-7, 6-2 in New York to claim the third Grand Slam championship of her career. Rybakina entered the final having already secured the world No. 1 ranking following her quarterfinal victory over Zheng Qinwen. She will officially take the top position when the new WTA rankings are published on Monday, becoming the first player representing Kazakhstan to reach No. 1 in singles. The US Open title adds to her Wimbledon championship in 2022 and Australian Open victory earlier this year. She has now won three of the four Grand Slam tournaments. Sabalenka entered the final as world No. 1 and two-time defending US Open champion. The match was also a rematch of this year’s Australian Open final, which Rybakina won. Rybakina has become one of Kazakhstan’s most prominent international athletes. Her run in New York included victories over Naomi Osaka, Zheng and Coco Gauff before the final. Speaking during the tournament, Rybakina said she was “very proud representing Kazakhstan” and noted growing interest in tennis among children in the country. Her success has marked a series of firsts for Kazakhstan. She became the first player representing the country to win a Grand Slam singles title at Wimbledon and is now the first to reach the top of the world rankings.

Astana Finance Days: Rewiring Finance at Institutional Scale – The Case for Deeper Financial Markets

Kazakhstan needs deeper financial markets and a system less dependent on banks, senior financial officials told Astana Finance Days on September 9, 2026. Speakers at the Astana International Financial Centre (AIFC) explored how digital finance could support that shift during the plenary session, "Innovation at Institutional Scale: Rewiring the Architecture of Finance." The turnout was standing-room only. Over the next fifty minutes, the panelists discussed Kazakhstan’s ambitions as a financial hub and the conditions needed to advance them. Moderator Sallianne Taylor, Bloomberg's EMEA Head of Government Relations, opened by asking what is fundamentally changing in the architecture of global finance, and what it means for Kazakhstan. There were five panelists: Timur Suleimenov, Governor of the National Bank of Kazakhstan; Renat Bekturov, Governor of the AIFC; Timur Turlov, Chief Executive of Freedom Holding Corp.; Sergio Mello, Global Head of Stablecoin Solutions at Anchorage Digital; and Balaji Srinivasan, founder of Network School and bestselling author of The Network State. The Governor's Priority: Stability Before Speed Governor Suleimenov began by naming "geopolitical tension" as the backdrop to today's discussions. "This is the elephant in the room, which we cannot ignore," he said, without further comment. He then described trade and finance flows as changing fundamentally, pointing to "division across the Atlantic. We're seeing trade wars, semi-trade wars across the world." He explained that "finance has always been a partner with trade, investment and finance." That atmosphere of uncertainty "reshapes financial flows," he said. Turning to technology, he noted that "with the invention of blockchain, cryptocurrencies, stablecoins, and everything in between, the traditional financial system has started to undergo very fundamental change. I think we're still in the rule-setting phase." As a result, he said, "There is no set of global rules for decentralized finance, for digital finance, crypto finance. Many countries are looking to strike the right balance between the traditional financial institutions such as banks or commodities or securities markets, and the new ways of doing finance that the market is offering." For Kazakhstan specifically, he argued the moment favors the country rather than threatens it. "I think for Kazakhstan, it's more of an opportunity," he said, pointing to its standing as the region's largest economy by GDP and GDP per capita, and its position as "the biggest financial system, the best financial system, the most capitalized" in Central Asia. That confidence carried into the moderator's next question: "As a central banker, how do you balance innovation with preserving that financial stability and trust?" Suleimenov called it "a never-ending story," then offered the line that framed the whole session: "When you see something new, and you don't have the rules for it, of course you have to evaluate it based on its merits and based on principles rather than rules, and then you come up with rules." He was candid about the risk that comes with new financial technology, but just as quick to put it in proportion. "What we've been seeing in Kazakhstan, I mean, it's 90% positive," he said, acknowledging...