News

For the first time since the end of October 2024, the price of a five-gram gold bar has risen above 5.8 mln soums, according to the Central Bank of Uzbekistan.

In response to the increasing global gold prices, the bank has adjusted the prices as follows: five-gram gold bars are now priced at 5.83 mln soums, ten-gram bars at 11.66 mln soums, 20-gram bars at 23.32 mln soums, and 50-gram bars at 58.3 mln soums.

Additionally, 100-gram gold bars are being sold at 116.6 million soums.

The Central Bank of Uzbekistan had previously set a record for gold...

Turkish law enforcement authorities seized 32,900 liters of methyl and ethyl alcohol in Istanbul, which have been linked to a series of poisonings that resulted in fatalities, according to TASS.

A total of 32 individuals have died from consuming counterfeit alcoholic drinks, with the majority of the deceased being from Turkmenistan and Uzbekistan.

Since the beginning of the week, over 80 people have sought medical attention in the city’s healthcare facilities for methanol poisoning.

In response to the mass poisoning incident, Turkish authorities have initiated a criminal investigation, resulting in the arrest of nine individuals.

Kursiv Uzbekistan also reports that...

A branch of Startup Garage, a project aimed at supporting startups and young entrepreneurs, has opened in Kashkadarya Province, as reported by IT Park.

The innovation center will offer workspace for startup teams and provide consultations. Additionally, it will host educational and business events organized by Startup Garage.

AloqaBank and the venture fund AloqaVentures have partnered on this project. During the branch’s opening ceremony, guests learned about the opportunities available through the project, including startup development programs and assistance in finding initial investments.

Subsequently, 20 teams presented their ideas for innovative projects. Experts selected 12 startups that will...

The Board of the Republican Stock Exchange (RSE) Toshkent has approved the listing of securities for Oq Oltin Don Mahsulotlari JSC, as reported by the trading floor’s press service.

The common shares and preferred shares of the company, with stock tickers OODM and OODMP respectively, are set to begin trading on January 17.

Oq Oltin Don Mahsulotlari specializes in the production of bakery products. The main shareholder of the company is Uzdonmahsulot Company, which holds an 89.3% stake.

According to the financial report for the third quarter of 2024, net profits for Oq Oltin Don Mahsulotlari exceeded 1.8 trillion soums...

At the end of December 2024, the Cabinet of Ministers of Uzbekistan approved the general plan for Tashkent. The capital city plans to build 647 kilometers of new streets and roads, expanding its area to 43,700 hectares.

Saidazim Sharipov, head of the Department for Preparation of Urban Planning Documents at the New Tashkent Construction Directorate, outlined how the authorities will regulate the building and reconstruction processes in the capital.

Under the new program to manage the development and reconstruction of the capital, residential areas will be divided into four categories, according to Sharipov.

The first category will encompass neighborhoods with...

In 2024, an average of 14 Uzbeks applied for each vacancy on the hh.uz platform, according to a report from HeadHunter obtained by Kursiv Uzbekistan. This marked a 44% increase in applicant competition compared to the previous year.

During the year, employers posted 130,000 active vacancies on the platform, which represents a 28% increase over 2023.

The peak period for employer activity occurred between May and October. In October alone, Uzbek employers posted nearly 18,000 vacancies. Conversely, January and December 2024 saw the fewest new job offers.

The largest share of vacancies was in sales and customer service, accounting for...

U.S. Secretary of State candidate Marco Rubio described the Jackson-Vanik Amendment, which affects Uzbekistan and other Central Asian countries, as a relic of the past during a Senate hearing. He stated that using this amendment as a tool to exert pressure on these nations is no longer relevant. Rubio emphasised that abolishing the initiative would require changes in legislation.

He also highlighted the importance of Washington paying greater attention to the Central Asian region.

In 2023, U.S. Senator Chris Murphy from Connecticut supported the repeal of the amendment against Uzbekistan, Kazakhstan and Tajikistan. He argued that the U.S. should grant...

The World Monuments Fund (WMF) has added the Moon to its list of endangered cultural heritage sites, as reported by The Guardian.

However, the organization is not concerned about the preservation of the Moon itself. Instead, it is focused on the fate of cultural objects left behind by astronauts, such as the footprints of Neil Armstrong and Buzz Aldrin, a memorial disk, and a video camera.

These items could be at risk of damage from future tourists. The WMF has raised concerns about the increasing number of planned commercial spaceflights, noting that there are currently no established protocols for...

The number of Uzbek citizens who have died from poisoning by substandard alcohol in Turkey has reached ten, as reported by the Consulate General of Uzbekistan in Istanbul.

Previously, the diplomatic mission had reported the deaths of six Uzbeks. Turkish authorities have arrested two citizens of Turkmenistan who are suspected of producing counterfeit alcohol.

“Consular staff remain in constant contact with the Istanbul Health Department and the Forensic Medicine Institute, as well as law enforcement agencies,” the mission clarified.

The consulate has urged fellow citizens to exercise caution and, if necessary, report any issues by calling +90 (553) 541-17-17.

In December 2024, the cost of holidays in Uzbekistan for Russian tourists decreased by 2.7%, as reported by TASS, citing data from Rosstat.

A similar trend was observed in Kazakhstan, where the cost of holiday travel also fell. In contrast, the price of trips for Russian citizens to Azerbaijan, Armenia, and Georgia increased by 1.2%.

From January to November 2024, Uzbekistan saw over 7.3 mn foreign visitors, marking a nearly 19% increase compared to the previous year.

The largest groups of tourists came from Kyrgyzstan and Tajikistan, with 2.1 mn visitors each. Kazakhstan and Russia followed with 1.4 mn...

Meta, the parent company of Facebook and Instagram, plans to reduce its global workforce by approximately 5%, affecting thousands of employees worldwide, The Guardian reports, citing an internal memo from CEO Mark Zuckerberg.

In the memo, Zuckerberg described 2024 as a “challenging year” and announced the company’s intention to “accelerate the removal of underperforming employees.”

“Typically, we address performance issues over a year, but this cycle will see larger-scale reductions,” Zuckerberg stated.

Reports estimate that 3,600 employees will be impacted by the layoffs. Meta currently employs around 72,000 people globally.

By the end of 2024, 915 construction companies in Uzbekistan had accumulated tax debts totalling UZS 812.2 bn, according to the State Tax Committee.

Of this amount, UZS 350.6 bn was attributed to just ten developers, the committee reported.

Tashkent-based enterprises accounted for the largest share, owing UZS 310.4 bn, followed by businesses in the Bukhara Region (UZS 81.6 bn) and Andijan Region (UZS 63 bn).

The lowest tax debts were recorded in Jizzakh Region (UZS 14.7 bn), Karakalpakstan (UZS 14.3 bn), and Navoi Region (UZS 9 bn).

In 2024, 402,391 cars were sold on Uzbekistan’s domestic market, according to data from the UzAuto website.

UzAuto Motors made the largest contribution to total sales, delivering 353,730 vehicles. ADM Jizzakh ranked second with 30,329 cars sold, while the BYD Uzbekistan Factory recorded sales of 17,132 units.

Among the most popular models, the Chevrolet Cobalt led the market with 127,240 units sold in 2024. The Chevrolet Damas followed with 106,001 units, and the Chevrolet Tracker ranked third with 37,903 vehicles sold.

For BYD models, the BYD Song Plus Champion DMI was the top seller with 7,752 units, followed by...

The international company Bolt views Uzbekistan as an attractive market for investment, IT Park reports.

During a meeting with IT Park representatives, Bolt’s Head of Public and Government Relations, Yuliya Malich, described Uzbekistan as a priority region for the company. She highlighted the country’s rapid digital transformation, a large pool of young professionals, and growing population as key strengths.

Bolt has expressed interest in collaborating with Uzbekistan’s Ministry of Digital Technologies and other government agencies. The initial phase of this partnership may include joint workshops for aspiring IT specialists and startup teams.

IT Park proposed involving local specialists in...

Uzbekistan and the United Arab Emirates have signed a declaration formalising their strategic partnership, according to the press service of Uzbekistan’s President, Shavkat Mirziyoyev.

The Uzbek leader is currently on an official visit to the UAE. During the visit, the two sides also signed agreements on the mutual promotion and protection of investments and financial and technical cooperation.

The signed documents include interagency agreements on investment collaboration and industrial cooperation.

Hamas and Israel have agreed to a ceasefire in the Gaza Strip, which will take effect on January 18, Reuters reports.

The agreement will be implemented in phases and includes the release of Israeli hostages, the gradual withdrawal of Israeli forces from Gaza, and the release of Palestinian prisoners.

However, hostilities persist despite the deal. On Saturday evening, Israel conducted airstrikes on Gaza, resulting in at least 32 fatalities, according to local authorities.

Photo: RIA Novosti
On January 15 at 12:32 PM, an earthquake was recorded in Uzbekistan, as reported by the Republican Center for Seismic Forecasting Monitoring of the Ministry of Emergency Situations.

The epicentre was located in the Kashkadarya region, specifically in the Dekhkanabad district. The tremors occurred at a depth of ten kilometers, with a magnitude of 3.9.

In the Kamashinsky district, the intensity of the tremors reached two on the scale.

Kursiv Uzbekistan reported that another earthquake was recorded in the Bukhara region of Uzbekistan in the early morning hours of Tuesday, January 14.

BRICS is not planning to abandon the use of the US dollar, according to a statement by Brazilian Foreign Minister Eduardo Saboya, as reported by TASS.

Saboya noted that it doesn’t make sense for BRICS nations to move away from the dollar, especially since these countries hold significant dollar reserves. He emphasised that the members of BRICS are not trying to oppose the United States or other nations; instead, their work focuses on facilitating mutual settlements and trade operations.

There has been discussion about creating a single currency for trade among BRICS countries and establishing an alternative to the...

Over the past five years, Uzbekistan’s energy sector has attracted nearly $20 bn in foreign investments, as the Pravda Vostoka newspaper reported.

During this period, 14 solar and wind power plants with a total capacity of 3.5 GW were constructed in the country.

Two 300 MW electricity storage systems were established. Work is ongoing with foreign investors on 50 major energy projects valued at $26 bn.

In 2024, the Republican Electric Networks (RES) secured $189 mln in investments. The company supplied consumers with over 67 bn kWh of electricity, representing a 5% increase compared to 2023.

Over the past year...

Out of UZS 8.8 trln in undistributed profits, UzAuto Motors will allocate UZS 264 bn for dividend payments to its shareholders, according to the company’s report.

The decision was made by the shareholders on January 10. The dividend per share will amount to UZS 975.

It is worth noting that by the end of the second quarter of last year, UzAuto Motors’ net profit exceeded UZS 1.9 trln, while undistributed profits reached UZS 8.5 trln.

The company’s annual revenue grew from UZS 22 trln to UZS 23.4 trln.

It should be noted that from 2021 to 2024, UzAuto...

The President of Uzbekistan, Shavkat Mirziyoyev, held a meeting with a delegation of leading companies from the United Arab Emirates, headed by the UAE Minister of Investment and CEO of the ADQ holding, Mohamed Hassan Alsuwaidi.

The parties agreed to expedite the implementation of projects in the fields of innovative technologies, rare earth metal extraction, railway development, dry port creation, cable production, and public-private partnership (PPP) projects in education and healthcare.

Further steps for cooperation with each company were also outlined. Joint projects in infrastructure, construction, energy, transport, logistics, mining, electrical engineering, and utilities are planned.

At the end...

Uzbekistan’s major taxpayers, comprising 949 companies in 2024, contributed UZS 123.3 trln to the state budget, according to the State Tax Committee.

Revenue from the ten largest state-owned taxpayers amounted to UZS 70.3 trln.

The Navoi Mining and Metallurgical Combine (NMMC) led the list, paying nearly UZS 35.5 trln in taxes. The Almalyk Mining and Metallurgical Combine (AMMC) ranked second, contributing UZS 10.8 trln, while Navoiuran secured third place with UZS 4.6 trln in tax payments.

The top 10 private-sector taxpayers collectively paid UZS 8.7 trln into the budget. British American Tobacco Uzbekistan (UzBAT) topped this category with UZS...

Uzbekistan and the United Arab Emirates plan to create a major data processing centre in Tashkent. The initiative was discussed by President Shavkat Mirziyoyev and UAE Minister of Artificial Intelligence Omar bin Sultan Al Olama.

The two parties also explored collaboration in developing generative artificial intelligence, including the use of large language models in the energy sector.

President Mirziyoyev proposed launching a programme to enable Uzbek students to study at the Mohamed bin Zayed University of Artificial Intelligence. The discussions also covered plans to establish research laboratories and technology clusters.

The value of exchange transactions between Uzbek and Belarusian enterprises reached $55 mn in 2024, tripling the amount recorded the previous year, BELTA reports.

The number of Uzbek companies participating in the Belarusian exchange nearly doubled over the year, rising from 97 to 177.

The trade portfolio also expanded, with Uzbek businesses starting to purchase Belarusian dried milk and initiating the exchange of raw materials for the textile industry in 2024.

«This increased interest in exchange trading reflects the success of targeted outreach efforts with Uzbekistan’s business community,» said Grigory Ginsar, Director of the Gomel branch of the Belarusian Universal Commodity...