News

The Board of the Central Bank of Uzbekistan has decided to maintain the key policy rate at 14% per annum, effective from December 11.

The regulator cited the need to control inflation and minimise inflationary risks as the main reason for keeping rates steady. Annual inflation fell to 7.5% in November, supported by a slowdown in core inflation to 6.3%. The stabilising effect of a stronger exchange rate and moderate import prices also helped contain the rise in non-food goods.

The Central Bank expects inflation to reach 7.3% by the end of 2025 and around 6.5% by the...

Uzbekistan has achieved a major cultural milestone with the inscription of the Karakalpak kobyz, a traditional musical instrument, and the yurt on UNESCO’s Intangible Cultural Heritage List. The decision was made during the 20th session of the Intergovernmental Committee held in New Delhi, according to Saida Mirziyoyeva, head of the Presidential Administration.

Mirziyoyeva highlighted that the recognition reflects the value of Uzbekistan’s national traditions and the strength of its spiritual heritage.

She said, «This is a victory for our entire culture. We continue to move forward, carefully preserving what makes us unique.»

Mirziyoyeva also...

Uzbekistan’s Minister of Energy, Jurabek Mirzamahmudov, told deputies in the lower chamber of parliament that Tashkent is engaged in discussions with Washington regarding the assets of Russian oil company Lukoil in Uzbekistan.

He added that US authorities have sent a letter extending the deadline for the sale of Lukoil’s foreign assets to mid-January next year. Mirzamahmudov expressed hope that a solution could be reached that serves Uzbekistan’s interests while adhering to international law. Talks are ongoing with legal experts and American officials.

Lukoil, which operates on around ten gas fields in Uzbekistan and built the Kandym gas...

Uzbekistan plans to relax non-tariff procedures for businesses in an effort to make official car imports through legal entities more affordable, according to a presidential decree on expanding cashless payments.

Officials expect the move to reduce the volume of vehicle imports registered under individuals, a practice that has become an informal workaround in recent years.

Between January and September this year, Uzbekistan purchased more than 56,300 vehicles from overseas, an annual increase of about 1,900 units. By early October the value of car imports had reached $807.3 mln.

China accounted for the overwhelming majority of deliveries with around...

Ferrari Formula One driver Charles Leclerc has arrived in Tashkent, drawing considerable attention as one of the sport’s most recognisable figures.

The Monegasque racer was greeted at Islam Karimov Tashkent International Airport by officials from Uzbekistan’s National Olympic Committee. Leclerc arrived with his fiancee Alexandra Saint Mleux.

Women entrepreneurs have demonstrated better loan repayment rates than their male counterparts, according to Francis Malige, Managing Director of the EBRD’s Financial Institutions Business Group. Speaking at the EBRD Women in Business Regional Conference on December 10, Malige challenged traditional risk assessments, stating:

«Women pay back their loans better than men. They are more serious entrepreneurs.»

He noted that this data is driving banks to view lending to women as a commercial opportunity rather than a high-risk endeavor.

Challenging Collateral Requirements

Malige referenced the programme’s initial implementation in Turkey to illustrate the shift...

Disproportionate family responsibilities and “life events” can reduce business activity for women entrepreneurs by nearly 30%, according to Zsuzsanna Hargitai, Managing Director for SME Finance and Development at the European Bank for Reconstruction and Development (EBRD).

Speaking at the Unlocking Women’s Potential plenary session, Hargitai argued that marriage, motherhood, and other care duties continue to limit women’s economic opportunities, stating that investment in care infrastructure must be a priority for institutions serious about equal opportunity.

The Economic Cost of Care

Hargitai highlighted the stark contrast in how personal milestones affect male and female business owners. «Things in life only...

A recent photograph showing Prime Minister Narendra Modi and Russian President Vladimir Putin carpooling drew attention during a US congressional discussion on India-US relations.

“This poster is worth a thousand words,” said US Representative Sydney Kamlager-Dove, highlighting the image while sharply criticising the Trump administration’s policies towards India.

“Trump’s policies towards India can only be described as cutting our nose to spite our face. Being a coercive partner has a cost. And this poster is worth a thousand words,” Dove said, adding, “You do not get a Nobel Peace Prize by driving US strategic partners...

Arsenal have reportedly refused Viktor Gyokeres permission to travel to Sweden to give evidence in a court case involving his agent. The striker, who joined the club in a major summer move, had been called as a witness in a defamation lawsuit set to be heard in 2026.

His representative, Hasan Cetinkaya, is taking legal action against Swedish outlets Expressen and Fotboll Sthlm after reports alleged he and his agency, HCM Sports Management, had links to criminal groups. Cetinkaya has rejected the claims and is pursuing the case through the Stockholm courts, where Gyokeres was expected to testify.

Uzbekistan remains the most dynamic market for international hotel chains in Central Asia. From 2020 to 2025, the number of branded hotel rooms in the country grew by 272%, a pace unmatched by any other nation in the region, according to CMWP Uzbekistan.

Strong growth in Uzbekistan’s hotel market

In 2025 alone, 682 new branded hotel rooms opened, including Swissôtel Tashkent, Wyndham Garden Tashkent Airport, Ramada Encore by Wyndham Zomin, and J.W. Marriott Hotel Tashkent, which became the country’s second Luxury-level property.

By the end of 2025, Uzbekistan had a total of 4,473 international hotel rooms, placing it...

Uzbekistan is set to export food products worth $3.2 bn by the end of 2025, President Shavkat Mirziyoyev said at a meeting with agricultural workers at the Kuksaroy residence.

Food exports have risen 37% since the start of the year, with Uzbekistan expanding its reach to 83 countries. The country ranks third globally for dried plums and apricots, seventh for peaches and raisins, and eighth for cherries, the president noted.

This year, Uzbek farmers harvested 3.4 mln tonnes of fruit, 2 mln tonnes of grapes, 19.5 mln tonnes of vegetables, melons and potatoes, and 1 mln tonnes of legumes...

President Donald Trump has unveiled a new programme offering fast-tracked US visas to wealthy foreigners willing to pay at least $1 mln (£750,000).

The so-called Trump Gold Card is designed to give buyers «a direct path to Citizenship for all qualified and vetted people. SO EXCITING! Our Great American Companies can finally keep their invaluable Talent,» Trump wrote on social media.

The scheme targets individuals who can demonstrate they will provide a «substantial benefit» to the United States, according to the official website. It promises US residency in «record time» for a $1 mln...

The Eurasian Development Bank (EDB) is creating a platform to attract investors from Gulf countries to projects in Central Asia, according to the bank’s press service.

The initiative will target sectors such as logistics and water management, while agriculture and renewable energy are also expected to draw interest. Islamic finance is expanding in Central Asia, with the market projected to reach $6.3 bn by 2033.

To support this effort, EDB has opened a representative office in the Abu Dhabi Global Market (ADGM) financial centre. The platform will offer investors from the Gulf Cooperation Council (GCC) ready-made investment solutions for Central...

Hamkorbank will receive a $70 mln loan from the European Bank for Reconstruction and Development (EBRD) to support small and medium enterprises (SMEs) in Uzbekistan.

SMEs account for around half of the country’s GDP and provide jobs for roughly 80% of the population. Supporting this sector is a key priority for the EBRD. As of December 2025, the bank has invested more than $6.5 bn across 193 projects in Uzbekistan. According to the State Statistics Committee, by early November 2025, there were 395,700 active small and micro enterprises, down 1.6% compared with the previous year.

In the third quarter...

Tourists from dozens of countries, including the UK, could soon have to provide a five-year history of their social media activity before entering the United States. The proposal would affect travellers eligible for the 90-day visa-free Electronic System for Travel Authorization (ESTA) programme and comes as part of the Trump administration’s wider push to tighten border security.

President Donald Trump, who returned to the White House in January, stressed that the measures are intended to protect national security.

Asked whether the plan might reduce tourism, he said he was not concerned, adding, «We just want...

The European Union has allocated €7 mln to support Uzbekistan’s Agriculture Development Strategy for 2020–2030. The announcement was made by EU Ambassador to Uzbekistan Toivo Klaar during a meeting with Agriculture Minister Ibrohim Abdurahmonov.

This grant forms part of a broader EU support package for the country’s agricultural sector, which will total €20 mln. The EU previously provided €6 mln in 2023 and plans to release the remaining €7 mln in 2026, provided that reforms progress as agreed and key targets are met.

«To ensure strong investment, sustainability and a more competitive export sector, both...

President Shavkat Mirziyoyev has announced that China will supply Uzbekistan with 50 agricultural drones next year. Speaking at a meeting with farmers, he said every region will open at least two mobile drone units to provide services to local producers.

The president added that the drones’ carrying capacity will rise from 100 kg to 250 kg as part of the sector’s modernisation.

«I am pleased to see more of our farmers and clusters adopting digital technologies and artificial intelligence in their operations and achieving high yields with low costs,» he said.

Mirziyoyev noted that...

A delegation from Uzbekistan has travelled to Denmark to study the country’s globally renowned digital public service system, The Caspian Post reports via Uzbek media.

The delegation,led by Eldor Makhkamov, Head of the Public Services Department at the Ministry of Justice, held meetings with Danish officials from the Center for Digital Government, the Ministry of Digital Government, the national IT services agency, the Chamber of Commerce, the Health Authority, the State Archives and the Data Protection Agency.

Discussions focused on Denmark’s most successful digital governance practices, including full digitalization of documents and state services, outsourcing of select government...

Uzbekistan is accelerating its transition to a digital economy with sweeping new restrictions on cash payments and ambitious targets for cashless transactions, Trend reports via the Chamber of Commerce and Industry.

Under a presidential decree signed by President Shavkat Mirziyoyev, cash payments for alcohol and tobacco products will be banned starting April 1, 2026. The measure is part of a broader national strategy titled «On Additional Measures to Promote Cashless Payments and Reduce the Share of the Shadow Economy.»

Cash payments will also be prohibited for:

The Uzbekistan International Forum Palace hosted the ceremonial opening of FIA General Assembly Week. Attendees included FIA President Mohammed Ben Sulayem, senior officials from the Ministry of Sports and National Olympic Committee of Uzbekistan, the National Automobile and Motorcycle Federation, and representatives from member federations of the FIA.

Sport Minister Adham Ikramov congratulated the guests on behalf of Uzbekistan and highlighted the country’s ongoing sports reforms. In turn, Ben Sulayem emphasised the event’s importance in the world of motorsport, noting it is the first time the General Assembly has been held in Central Asia. He also presented awards...

The British Ice Skating Federation has announced that starting from the 2026–27 season, same-sex duos will be allowed to compete in national ice dance events — making the UK the third country to introduce the rule after Canada and Finland.

The updated regulations were published on the federation’s official website.

However, such pairs will still be barred from international competitions under the International Skating Union (ISU), which continues to require that all ice dance and pairs teams consist of one man and one woman.

Canada was the first to approve same-sex duos in 2022, with Finland following this...

Iran is ready to deepen its partnership with Belarus across all sectors, Vice President Mohammad Reza Aref said on Wednesday during a meeting in Tehran with Andrei Kuznetsov, Belarus’s minister of industry and head of the Belarusian delegation to the Joint Commission on Cooperation.

Aref emphasised that Iran and Belarus have complementary economies capable of meeting one another’s needs, adding that expanding cooperation is one of Tehran’s strategic priorities. He said the successful 18th meeting of the Joint Commission has created «a very good opportunity» to advance comprehensive ties.

The vice president also noted that the two countries...

Uzbekistan’s Centrum Air has signed a lease agreement with AerCap for two new Airbus A321neo aircraft, the airline announced.

The jets are scheduled for delivery in the fourth quarter of 2027. AerCap Chief Commercial Officer Peter Anderson noted that Centrum Air is the company’s first Uzbek customer.

Centrum Holding Chairman and CEO Abdulaziz Abdurahmanov said the A321neo’s improved fuel efficiency and extended range will allow the airline to offer passengers greater comfort and open new international routes, strengthening Uzbekistan’s connectivity with key global markets.

Kursiv Uzbekistan also reports that Uzbekistan has taken a major step toward becoming Central Asia’s fintech hub...

Condor Energies Inc. of Canada will expand its oil and gas development in Uzbekistan after launching a brokered private placement of convertible debentures worth up to $10 mln, the company announced.

The new financing will accelerate Condor’s drilling program and support production growth across its project portfolio in Uzbekistan. Funds will be used to mobilise a second drilling rig for the company’s 12-well program planned for 2026, as well as to build in-field compression facilities aimed at boosting output and cash flow.

Condor plans to operate two drilling rigs throughout 2026, along with a dedicated workover...