News

Uzbekistan’s national payment system HUMO has launched a pilot digital token. It is backed by government bonds and aims to boost trade within the CIS.

Registered token backed by secure assets

HUMO Digital issued the token. It is listed in the national registry maintained by the National Agency of Perspective Projects (NAPP). Crypto depository Asterium will monitor the security of the underlying assets.

The token is secured by Uzbek state bonds. This helps ensure price stability and increases investor confidence.

Pilot phase to test financial use cases

The trial phase will explore how the token works in...

In March 2025, Uzbekistan saw a record-breaking surge in microloan activity, according to figures released by the Central Bank.

During the first quarter of the year, microloan issuance totalled more than 18.7 trln UZS — 2.29 times higher than the same period in 2024. Of that, 5.56 trln UZS were issued in January (a 2.14-fold increase year-on-year), 5.97 trln in February (up 2.25 times), and 7.16 trln in March — a monthly record and 2.46 times higher than the previous year.

Microcredit Share Rises Alongside Stricter Regulation

Microcredit volumes also experienced substantial growth. In Q1 2025, microcredit issuance...

Uzbekistan will build a modern pharmaceutical plant in partnership with South Korea’s DK Consulting. The plan was announced after a July 9 meeting between Abdulla Azizov, Director of the Pharmaceutical Industry Development Agency, and representatives of the investor.

Full-cycle pharmaceutical production in Uzbekistan

The project will cover the full production cycle. This includes architectural planning, engineering, construction, and the launch of manufacturing lines. The plant will meet GMP and EU-GMP standards to ensure high-quality pharmaceutical output.

Construction is expected to begin by the end of 2025.

Government pledges full support

Azizov confirmed the Uzbek government will provide full administrative support. This includes assistance...

Authorities in Afghanistan and Kazakhstan have signed a memorandum launching an investment project to construct a railway linking the Afghan city of Herat with Turgundi, near the Turkmenistan border. The deal, worth $500 mln, will be financed by Kazakhstan, according to the Afghan state news agency Bakhtar, citing the press office of the Islamic Emirate’s economic administration.

The agreement was signed in Kabul during a meeting between Kazakhstan’s Deputy Prime Minister and Foreign Minister Murat Nurtleu and Mullah Abdul Ghani Baradar Akhund, Deputy Chairman of the Council of Ministers of Afghanistan for Economic Affairs.

Boosting Trade and Connectivity...

Akim of East Kazakhstan Nurymbet Saktaganov met with Uzbek Ambassador Bakhtiyor Ibragimov in Ust-Kamenogorsk. The parties reviewed joint projects and discussed new trade routes and exports.

Kazakhstan offers nuclear fuel for Uzbekistan

Kazakhstan may supply nuclear fuel for Uzbekistan’s first nuclear power plant. The two sides also plan to exchange experience in waste processing and storage.

New agro-export opportunities

East Kazakhstan is preparing to export vegetable oil and honey to Uzbekistan. Both countries aim to expand food trade and build new agro-industrial partnerships.

Direct flights and train routes to resume

Tourism was also on the agenda. This season, a train route will resume between Ust-Kamenogorsk and Tashkent, Samarkand, and Bukhara. New direct flights will...

An Uzbek company, PetAgroOil, will invest KZT 33.7 bn (approx. $75 mln). The company plans to build a large oil extraction plant in Lisakovsk, Kostanay region, Kazakhstan.

Regional authorities call the project a key step for agro-processing growth.
It is also seen as a driver for attracting more foreign direct investment (FDI).

Annual capacity to reach 200,000 tonnes

The plant will process up to 200,000 tonnes of raw materials annually. That includes 170,000 tonnes of sunflower seedsand 30,000 tonnes of rapeseed.

The expected output is 90,000 tonnes of finished oil products each year.

A new Kazakh company, Lisakovsk Oil Extraction Plant LLP, has been registered to...

Kazakhstan’s external debt soared to a record $170.5 bln by the end of the first quarter of 2025, marking a sharp increase of $5.7 bln since the start of the year, according to data from the National Bank. This is the highest level ever recorded since official statistics began in 2001, surpassing the previous peak of $167.4 bln set in 2018.

The National Bank attributed the rise to a combination of balance of payments operations, which added $3.4 bln, and currency, valuation and other adjustments amounting to $2.3 bln.

Private Sector Drives Debt Growth

The composition of Kazakhstan’s...

The Central Bank of Uzbekistan has announced modest declines in the official exchange rates for the U.S. dollar, euro, pound sterling, Swiss franc, Japanese yen and Kazakh tenge against the Uzbek soum.

U.S. dollar declined by 18.98 UZS, now at 12 634.34 UZS per USD.

While the Central Bank rates serve as official benchmarks, commercial banks typically offer more favourable terms — especially when selling UZS for foreign currency.

Next is the table for best exchange rates for buying UZS.

From today’s commercial offerings:

Turkish club Istanbul Başakşehir is close to finalising a loan deal for AS Roma striker Eldor Shomurodov, according to insider Fabrizio Romano. The agreement is reportedly worth €3 million, with an option to buy the player for an additional €2.7 mln.

Shomurodov joined Roma in the summer of 2021 and is under contract with the Serie A side until 2026. During his time in Italy, the Uzbekistan national team forward has also played for Genoa, Spezia and Cagliari. Before moving to Italy, he played in the Russian Premier League for Rostov and in Uzbekistan for Bunyodkor and Mash’al.

In the...

In a stunning upset on Centre Court, American Amanda Anisimova reached her first Grand Slam final by defeating world number one Aryna Sabalenka in a thrilling Wimbledon semi-final.

Anisimova, seeded 13th, outlasted Sabalenka 6-4, 4-6, 6-4 in a dramatic two-hour-and-35-minute battle played under the scorching London sun. The 23-year-old showed remarkable composure, saving 11 of the 14 break points she faced and finally closing the match on her fourth match point, reports BBC.

Waving and blowing kisses to the cheering crowd, Anisimova was visibly emotional after her breakthrough victory.

«This doesn’t feel real,» she said...

President of Uzbekistan Shavkat Mirziyoyev visited the Shaykhantakhur and Chilanzar districts of Tashkent to review recent improvements to the urban environment. The main focus of the visit was Bunyodkor Avenue, where a 1.5-kilometer section of the street was recently transformed into a pedestrian and gastronomic zone.

Fountains, lighting, and landscaping elements have now been installed along the road. The area is home to 90 businesses, 45 of which are newly opened. All establishments operate 24/7, creating 500 jobs.

Located nearby are the Kamolon, Yangi Kamolon, and Kamolon Darvoza mahallas, home to 18,000 residents. The street improvements are expected to...

A new drone aviation complex has been launched at one of Uzbekistan’s border guard units. The facility includes a control center, drone maintenance infrastructure, and a training hub, according to Uzbekistan 24 TV channel.

Over 100 drone operators and maintenance specialists have received training abroad. They will now help train local operators and technicians within Uzbekistan. The military personnel will also be able to practice drone operations using simulators that replicate real combat scenarios.

Border troops emphasized that deploying drones will enhance surveillance along the state border and improve Uzbekistan’s overall defense capabilities. Alongside small, maneuverable quadcopters and surveillance...

Uzbekistan’s national football team has improved its standing in the international rankings. According to the latest FIFA update, the team has climbed two places and now ranks 55th in the world.

This result marks another step forward in the team’s steady progress, reflecting the efforts of the coaching staff and players on the international stage.

Uzbekistan also strengthened its position within the Asian Football Confederation (AFC), moving up to 6th place, surpassing regional rivals such as Iraq and the UAE.

Top 6 AFC national teams in FIFA rankings:

Football analysts attribute the...

Hungarian Prime Minister Viktor Orbán has openly called for European Commission President Ursula von der Leyen to resign, using the eve of a significant European Parliament vote to intensify his criticism.

Posting on social media on July 9, Orbán shared an image of von der Leyen stepping out of a red frame, alongside the caption «Time to go», a clear nod to his view that her tenure should end.

The timing is notable, as the European Parliament is set to vote today, on July 10, on whether von der Leyen should retain her position at the head of the...

Following the presentation of the Atlas of Solutions to the president, Tashkent Mayor Shavkat Umurzakov outlined ambitious plans for a full-scale upgrade of the capital’s street infrastructure in an interview with Uzbekistan 24.

According to Umurzakov, China State Construction Engineering Corporation (CSCEC) has secured $300 mln in funding for Tashkent’s city hall. The funds will be used for large-scale road reconstruction and repair works across the city.

One of the first major projects involves the overhaul of Shota Rustaveli Street. The mayor revealed that 200 kilometres of roads and four new overpasses will also be built or refurbished...

The President of Uzbekistan, Shavkat Mirziyoyev, has signed a decree on the international carbon credit market. The document has been published on the official portal Lex.uz.

Carbon credits are used to calculate and offset greenhouse gas emissions. Typically, one credit equals one ton of carbon dioxide. These units help measure the effectiveness of emission reduction efforts.

The newly signed decree aims to legalize and organize carbon credit trading, including on the international market. According to the plan, 80% of carbon credits generated from relevant projects will be sold abroad, while the remaining 20% will be held in reserve.

Legendary rapper Snoop Dogg has released a music video dedicated to Telegram Gifts — the messaging platform’s new digital collectible feature. The clip appeared on Telegram’s official channels and quickly spread across social media, YouTube and crypto forums, sparking widespread discussion.

What is the MV About?

With his signature humour, bold rhymes and flair, Snoop presents Telegram as a global, international channel where people can now do more than just chat — they can gift digital collectables too.

The video underscores several key messages:

O’ztemiryo’lkonteyner, a subsidiary of Uzbekistan Railways (O’zbekiston Temir Yo’llari), held high-level negotiations with leading Asian logistics operators to promote the development of a multimodal transport corridor linking China, Kyrgyzstan, Uzbekistan and Afghanistan. The talks took place on the sidelines of the Investment and Trade Fair in Lanzhou, China, the company’s press service reports.

The four-party meeting brought together representatives from Gansu International Logistics Group, the Afghan diplomatic mission in China and Xinjiang Union of International Railway Logistics. Discussions focused on launching reverse container shipments from Afghanistan and Uzbekistan to China, expanding the corridor’s capacity and developing logistics infrastructure across...

Chelsea have booked their place in the Club World Cup final, and while the trophy itself is the main goal, there’s a significant financial incentive on the line as well.

Enzo Maresca’s side secured a spot in Sunday’s final after a comfortable 2-0 win over Fluminense, with summer signing Joao Pedro scoring both goals. Chelsea will now face either Real Madrid or Paris Saint-Germain for the title.

Club World Cup Prize Pool

The 2025 Club World Cup boasts a total prize pool of £774 mln ($1 bn), distributed among the 32 participating teams. Each club received a participation...

Uzbekistan’s railway ambitions took centre stage at the Global High-Speed Rail Congress in Beijing, where the country joined over 60 nations to discuss innovations and international cooperation in the sector. The event forms part of Uzbekistan’s broader efforts to modernise transport infrastructure and integrate into global rail networks.

Organised by China State Railway Group and the International Union of Railways (UIC), the congress — held at the China National Convention Centre — gathered more than 2,000 representatives from across the world. The theme, High-Speed Rail: Innovation and Development for Better Life, set the tone for discussions on future technology...

At a recent meeting chaired by President Shavkat Mirziyoyev, several measures were approved to develop public transport serving medium and long-distance routes. A particular focus was placed on Tashkent and interregional connections.

As part of a broader push to improve road safety and reduce congestion, the Uzbek government is now turning its attention to overhauling the country’s intercity public transport system, which remains poorly coordinated. Currently, long-distance buses operate not on schedule but only once 40 to 50 passengers have boarded.

Firstly, public transport in the capital will shift to a unified agglomeration system, extending coverage to surrounding districts...

According to a press release shared with Kursiv, Uzbekistan’s Centre for Economic Research and Reforms (CERR) has released its updated Bank Activity Rating for the second quarter of 2025. The index, which tracks the performance of 35 commercial banks using 27 indicators, shows growing competition across the sector.

The ranking divides banks into large and small categories. It evaluates seven main areas, including asset quality, profitability, liquidity, and financial inclusion. Since 2021, this rating has served as a tool to monitor banking reforms and sector performance.

Kapitalbank Still Ahead, Trastbank Gains Ground

Among the country’s 20 largest banks, Kapitalbank

On July 9, President Shavkat Mirziyoyev chaired a video conference to review measures aimed at improving road safety, enhancing infrastructure and reducing traffic congestion in Uzbekistan.

Significant efforts have been made in this area in recent years. Since 2017, the government has allocated 61 trln UZS for road construction and repairs—3.5 times more than previous funding levels.

A digital appeal system has been introduced, cutting visits to traffic safety departments by 50 percent. Additionally, 3,365 traffic officers have been equipped with electronic tablets and body cameras. Automated violation detection systems using artificial intelligence have been rolled out, while designated...

The Uzbek soum (UZS) has shown relative stability against the world’s leading currencies, according to data published today, on July 10. The U.S. dollar (USD) has strengthened slightly against the Uzbek soum (UZS) compared to the beginning of the month.

These rates are current as of Thursday morning and are subject to change throughout the day, depending on market dynamics and bank policies.

On July 7, the official exchange rate stood at at 12,606.73 Uzbek soums per U.S. dollar, which shows a slight increase of the USD in the last three days.