News

World gold prices have stabilized as the market anticipates potential tariffs on imports of goods in the United States, according to a report by Reuters.

US President Donald Trump is expected to sign an executive order regarding tariffs in early April. Market participants have differing views on the future of trade restrictions.

Some analysts are concerned about the rapid introduction of these tariffs and the strong rhetoric from the American leader, while others believe the restrictions may be more targeted.

Over the past ten days, gold prices have stabilised just above $3,000 per troy ounce. Most major analysts...

Uzbekistan and Russia have discussed plans to build a nuclear power plant with a larger capacity, according to the Uzatom news agency.

The conversation took place in Tashkent between Azim Akhmedkhadhadzhayev, the head of Uzatom, and Andrey Petrov, the first deputy general director of Rosatom.

They addressed the project for a small nuclear power plant in Uzbekistan, including the supply of fuel and the training of personnel for the facility.

Uzatom noted that the construction of the small nuclear power plant is currently in the design phase.

Kursiv Uzbekistan also reported that the estimated cost of the...

In 2024, the trading volume at the Uzbek Republican Currency Exchange increased by 19.84%, reaching 1.198 bn soums, according to Gulshan Asanova, head of the Public Relations and Marketing Department of the UZCE.

Last year’s figures were record-breaking for the exchange. The money market accounted for 55.85% of the trading volume, while the currency market contributed 38.96%, and the debt market made up 5.19%.

Among UZCE members, there are 35 Uzbek banks, six brokerage firms, and one foreign bank.

The Exchange attributes the increase in trading volume to the growing attractiveness of Uzbek markets and the ongoing development of...

Uzbek judoka Umar Bozorov secures victory at the Grand Slam tournament in Tbilisi, as reported by the National Olympic Committee of Uzbekistan.

Competing in the under-90kg weight category, Bozorov triumphed in the final against France’s Alexis Mathieu.

Team Uzbekistan also claimed two bronze medals, earned by Azizbek Ortikov and Abdurakhim Nutfullaev.

Uzbek gymnast Takhmina Ikromova secures a silver medal in the ball routine at the Grand Prix in Spain, the National Olympic Committee of Uzbekistan reports.

Ikromova scored 28.1 points, finishing second behind Ukrainian gymnast Taisia Onofriichuk, who claimed gold. Another Ukrainian athlete, Polina Karika, took bronze.

Earlier, Ikromova also won bronze in the all-around event, concluding the tournament with two medals.

Uzbekistan’s nuclear power plant (NPP) project is expected to cost less than $2 bn, according to Azim Akhmedkhajaev, head of Uzatom. He shared this estimate in an interview with AlerEgo.

Akhmedkhadjaev noted that the final cost remains under constant review, with efforts to reduce it further. President Shavkat Mirziyoyev closely oversees the project.

“We have an indicative estimate, which we continue to lower. There is no final cost yet,” he emphasised.

He also stated that the estimated payback period for the NPP ranges from 15 to 20 years.

Despite the involvement of foreign...

The United Nations General Assembly (UNGA) has unanimously reaffirmed Turkmenistan’s permanent neutrality. The resolution was adopted on March 21, 2025, during the 79th session under the agenda item Peacebuilding and Sustaining Peace.

Neutrality as Foreign Policy Principle

Turkmenistan’s Permanent Representative to the UN, Aksoltan Ataeva, emphasized neutrality as a core element of the country’s foreign policy. She highlighted its role in preventive diplomacy at regional and global levels.

Turkmenistan’s neutrality was first recognized by the UNGA on December 12, 1995. Since then, the country has positioned itself as a mediator in international affairs. The resolution also suggests using...

Kazakhstan has restored state ownership of Lake Teke, a rare bitter-saline lake in the north of the country. The lake, spanning 260 sq. km, holds a cadastral value of KZT 26.7 bn ($53.1 mln).

Authorities granted subsoil use rights for salt extraction in 2020, covering 21,500 hectares. However, the contract was terminated in 2022, yet the land lease remained active for over two years. This violated Kazakhstan’s Land Code.

The Prosecutor’s Office confirmed that legal action has now revoked the lease. The lake has been returned to state ownership, and officials responsible for delays faced disciplinary measures.

Lake Teke...

Kazakhstan’s Prime Minister, Olzhas Bektenov, recently met with Zhang Qihai, Chairman of China’s Xinjiang Lihua, to discuss the development of a cotton-textile cluster in the TURAN Special Economic Zone, Turkestan region.

The project, valued at over KZT 200 bn (approximately $396.7 mln), aims to create a full-cycle cotton agro-industrial complex, covering everything from cotton cultivation to the production of finished textile goods such as yarn, fabric, and clothing.

Project Overview

The initiative includes the allocation of over 50,000 hectares for cotton cultivation and the construction of ten factories, including:

Mass protests have erupted across Turkey following the arrest of Istanbul Mayor Ekrem İmamoğlu, with demonstrations continuing for a fifth consecutive day. The scale of the protests makes them the largest the country has seen in the past decade, Reuters reports.

Tensions escalated after a court ordered İmamoğlu’s arrest on March 23. Authorities removed him from office and extended a temporary ban on public gatherings until March 26.

Despite the restrictions, protests have continued in major cities, including Istanbul, Ankara, and Izmir. Police responded with force, using batons and tear gas to disperse crowds.

The opposition Republican People’s...

What does this mean for depositors? Acting Managing Director and Head of the Retail Division at Octobank, Rustam Rafikov, explains.

State Guarantees for Bank Deposits

On February 18, the President of Uzbekistan signed the Law on Guarantees for the Protection of Bank Deposits. Under the new legislation, the government now guarantees deposits up to UZS 200 mln per bank. Rustam Rafikov, Acting Managing Director and Head of the Retail Division at Octobank, comments on what this change means for depositors.

Key Provisions of New Law

Uzbekistan has repatriated 19 of its citizens who were detained in Saudi Arabia for violating immigration laws, Dunyo news agency reports.

The individuals had travelled to the kingdom on tourist visas and attempted to find work without obtaining the necessary permits. Among those detained were citizens under the age of 20 who had left without informing their families.

Uzbekistan’s diplomatic mission secured their return through negotiations with Saudi immigration and law enforcement authorities.

The embassy urged Uzbek citizens to familiarise themselves with immigration laws in advance and only seek employment abroad after obtaining the required documentation. In case of...

Uzbekistan produced 189,400 tonnes of petrol between January and February 2025. This marks a 21.4% decline compared to the same period last year, according to data from the National Statistics Committee.

Diesel fuel production saw an even steeper drop, decreasing by 39.5%. Domestic plants produced only 74,500 tonnes of diesel in the first two months of the year.

Oil extraction fell by 10.7% to 105.8 thousand tonnes, while natural gas output declined by 4% to 7.4 bn cubic metres. Gas condensate production also decreased.

Coal extraction stood out as the only sector bucking the downward trend. Its output grew...

The Uzbek services market expanded by 12.2% in January–February 2025 compared to the same period last year, according to the National Statistics Committee.

The total market volume reached UZS 136 trillion (approximately $10.6 bn) in the first two months of the year. Information and communication services, along with the financial sector, led the growth, increasing by 23.1% and 14.6%, respectively.

Transport, accommodation and food services, financial services, and trade continue to dominate the market structure.

Tashkent’s services market grew by 14.8%, reaching UZS 51.6 trillion (around $4 bn). Samarkand and Andijan regions also recorded significant growth, while Bukhara region...

Abdukodir Khusanov declined to sign a Real Madrid t-shirt during an autograph session, as shown in a video published by Championat Asia.

The incident took place in Tashkent after the Uzbekistan vs Kyrgyzstan match. Khusanov was signing notebooks and t-shirts when one fan was left without an autograph. The defender explained that he could not sign a Real Madrid jersey.

Some fans speculated that his refusal was a form of payback against the Spanish club for Manchester City’s recent double defeat. However, sports journalists offered a simpler explanation—his contract may prohibit signing t-shirts from other clubs.

Uzbekistan’s foreign trade turnover totalled $10.8 bn from January to February 2025, marking a 9.9% increase compared to the same period last year, according to the country’s National Statistics Committee.

China remains Uzbekistan’s top trading partner, accounting for one-fifth of total trade. Russia and Kazakhstan also ranked among the top three partners. Trade with Afghanistan more than doubled, reaching $276 mln.

Trade with Russia declined by 8.3% compared to January-February 2024.

Exports surged by 27.7% to $4.6bn, driven by:

Imports fell by 0.6% to...

A ceremonial horse parade will take place in Tashkent on Sunday, March 23, featuring law enforcement and security personnel, according to the city’s National Guard.

The event, held in celebration of Nowruz, will start at 17:00 and follow a route along Amir Temur Avenue. Participants will include police officers, military personnel, and National Guard members.

Residents are welcome to watch the parade and join the festivities.

Earlier, Kursiv Uzbekistan looked into the cost of preparing a traditional Nowruz feast in Tashkent.

Alexander Mashkevich, co-owner of the Eurasian Resources Group (ERG) and a prominent figure in Kazakhstan’s business and finance sectors, has passed away at the age of 71. This news was confirmed by a source to Tengrinews.kz.

Mashkevich was a shareholder and the Chairman of the Board of Directors at ERG, which he co-owned alongside Patokh Shodiev, the Ibragimov family and the government of Kazakhstan. ERG is one of the largest industrial groups in the country, encompassing major companies such as TNK Kazchrome, the Sokolov-Sarbai Mining and Processing Production Association, Aluminium of Kazakhstan and the Kazakhstan Electrolysis Plant.

In addition...

We Global Football has updated its forecast regarding national teams’ chances of qualifying for the 2026 FIFA World Cup. The portal estimates Uzbekistan’s chances at 92.6%.

Previously, the Uzbek team secured a victory against Kyrgyzstan in their qualification match, with the only goal scored by Khodzhiakbar Alijanov.

Uzbekistan also included players Abbosbek Faizullayev, Eldor Shomurodov, and Abdukodir Husanov in their lineup.

Kursiv Uzbekistan also reports that President Shavkat Mirziyoyev met with Khusanov, a defender for Manchester City.

Shavkat Mirziyoyev meets Abdukodir Khusanov/ Photo: Uzbekistan Football Association

Uzbek President Shavkat Mirziyoyev recently met with Manchester City defender Abdukodir Khusanov, marking an important moment for both the player and the nation, according to the Uzbekistan Football Association.

Khusanov, who was accompanied by his father, Hikmat Khoshimov, engaged in a meaningful conversation with the president, with an aide Saida Mirziyoyeva also present to facilitate the dialogue.

During the meeting, Khusanov presented President Mirziyoyev with a personalised Manchester City t-shirt featuring his signature, emphasizing the pride he takes in representing Uzbekistan on an international stage.

Kursiv Uzbekistan drew attention

Former two-time world boxing champion George Foreman has passed away at the age of 76, according to reports from Championat.

Born in 1949 in Texas, Foreman began his boxing career in the heavyweight category in 1969. He achieved remarkable success between 1973 and 1974 when he became the undisputed world champion, holding the WBA, WBC and IBF titles. His exceptional talent earned him the Ring’s Boxer of the Year award twice.

Throughout his career, Foreman recorded an impressive 76 victories, with 68 wins coming by way of knockout, while experiencing five defeats.

Kursiv Uzbekistan also reports the passing...

London’s Heathrow Airport has been temporarily closed following a fire at a nearby power station, leading to significant disruptions in flight operations. As a result, Uzbekistan Airways has announced changes to its flight schedule between Tashkent and London.

According to the airline’s press service, flights HY201/202 on the Tashkent – London (Heathrow) – Tashkent route, originally scheduled for March 21, have been cancelled.

Passengers affected by the cancellations will be accommodated on alternative flights HY203/204 operating on the Tashkent – London (Gatwick) – Tashkent route, starting from March 23. Ticket refunds are also available upon request.

The fire at a...

The starting lineup for Uzbekistan’s national football team has been officially announced ahead of their crucial World Cup 2026 qualifying match against Kyrgyzstan. Defender Abdukodir Khusanov from Manchester City and AS Roma striker Eldor Shomurodov will take the field as part of the starting eleven.

The Football Association of Uzbekistan released the full lineup ahead of the match.

Joining Khusanov and Shomurodov on the pitch will be:

The match against Kyrgyzstan is part of the qualifying campaign for the...

Uzbekistan has taken a significant step by applying to join the UN Commission on Narcotic Drugs in 2027. This announcement was made during the 68th session of the commission in Vienna, which brought together over 2,000 delegates from 164 countries and more than 20 international organizations.

At the session, the Uzbek delegation introduced its National Strategy on Combating Illicit Drug Trafficking for the years 2024-2028, demonstrating the country’s commitment to addressing this critical issue.

Uzbekistan hosted a dedicated event to share its experiences in preventing drug addiction among women, combating drug trafficking originating from Afghanistan, and developing effective rehabilitation...