The national market of rating agencies is in stagnation. Currently, Kazakhstan's financial sector is going through one of the most significant reforms in the country's history that is the creation of a single pension fund. Unification of pension funds was announced at the beginning of the year. However market representatives believe this situation will not last long. It is commonly known that the major international rating agencies are not interested in working with medium-sized companies of Kazakhstan. This is due to the fact that the services of such agencies are expensive and not all companies are able to pay for them. It is clear that the cost of rating should be balanced with the potential profit upon receiving it but at the same time medium-sized companies are not ready to work with international rating agencies because of high prices for their services. Experts say that almost every country has a national system of rating agencies - local agencies or agencies that operate within the region. These agencies provide a higher level of competition on the market and respectively provide a more honest assessment for investors, creditors and consumers. National ratings agencies do not assess country risks, in addition, they are more familiar with the market, its characteristics and specific risks. If global agencies basically assign a rating on the basis of country risks then national agencies judge a company and its business primarily on all the relevant documents.
The system of vertical monitoring of food production is being introduced in Kazakhstan. This means that quality control will get more severe very soon. But not all businesses and farms are ready for high standards. It should be noted that several companies offer high quality products at the moment. However the cost of food products with a high quality guarantee is much higher (by about 40% say market participants). Anyone can see the life history of a product and how everything is done firsthand. Some food companies have gone a step further and started to deliver products directly to homes with a minimum order of 5,000 tenge and a choice from about 500 items of food.
Today Kazakhstan cosmetics market is considered to be the most promising in the CIS after Russia and Ukraine. The turnover is growing by at least 10% every year. Cosmetics and perfumes market is closely linked to the world of fashion and is constantly dependent on fashion trends and seasonal variations. According to market research 13,3% more women started using cosmetics in Kazakhstan in the last ten years. In addition an average woman in Kazakhstan consumes much more makeup than an average woman in Europe. Another trend of the domestic cosmetics market is that the beauty industry has become a hostage of the race of the latest offers when one product is replaced by another besides the fact that the life cycle of cosmetic innovations has greatly reduced. The main trends of the cosmetics market indicate an annual increase in its capacity. As before foreign companies are leading. Interestingly, most of the cosmetics is bought by Kazakhstan citizens not in specialized shops. Natural cosmetics are the main brand today. More and more manufacturers are offering products claiming to be natural. Beauty salons and clinics are catching up with this trend. The number of salons that follow the slogan of ‘naturalness’ in interior, colors of uniform, juice bar menus as well as in the titles of procedures is increasing. However, these establishments are frequented by people older than 30-35 years. Before this age women spend most of their money on decorative cosmetics.
On sale now! The National Bank of Kazakhstan is going to celebrate the twentieth anniversary of the national currency, the Tenge, with the issue of collectors’ coins. First of all, the Bank is planning to issue a commemorative two-kilogramme gold coin. In general, gold and silver coins weighing more than a kilogramme are quite rare in the world market. It is the first time Kazakhstan is going to issue a two-kilogramme coin. Previous series were devoted to the 10th anniversary of Kazakhstan’s independence and the 2011 Asian Winter Games. In addition, the National Bank of the country is going to issue two silver coins weighting 1 and 0.5 kilograms. Both coins with the face value of 5,000 and 500 tenge have identical images on both sides. The National Bank says that the issue of commemorative coins is not a commercial project, but a way to promote the history of Kazakhstan, its cultural values, scientific and technical achievements. Additionally, financiers are confident that by the end of this year, 80% of issued coins will have been sold through the branches of the National Bank and its official website.