News

Despite ongoing geopolitical and economic challenges, the sector shows resilience and modest growth in key indicators.

Profit under pressure, but still positive

Airlines are expected to earn a net profit of $36 bn in 2025 — higher than in 2024 ($32.4 bn), though slightly below the December forecast of $36.6 bn. In detail:

IATA Director General Willie Walsh emphasised that the main positive factor is a 13% drop...

Uzbek businesswomen secured $13 mln in contracts during a visit to India, according to the Chamber of Commerce and Industry of Uzbekistan.

The agreements include a $3 mln deal to supply medical products to Gokal International Clinic, a $2.5 mln export contract for medical clothing, and $1 mln worth of textile exports.

They also signed contracts with partners in the education and textile industries.

As of early May this year, trade turnover between Uzbekistan and India reached $383 mln. From January to April 2024, the figure stood at $280.6 mln.

Earlier, Kursiv Uzbekistan reported that in spring...

Portugal edged out Spain in a dramatic UEFA Nations League final, winning the match in a penalty shootout at the Allianz Arena in Munich, Germany.

2–2 After Extra Time

The match ended 2–2 after both regular and extra time. Nuno Mendes and Cristiano Ronaldo scored for Portugal, while Martín Zubimendi and Mikel Oyarzabal found the net for Spain.

Fans witnessed a tense and action-packed match with moments including a shot off the post, crucial saves, several VAR checks, and strategic substitutions. With no winner after 120 minutes, the fate of the trophy came down to penalties.

Penalty Drama...

South Korean tech giant Naver launches a venture subsidiary in Silicon Valley, Yonhap News reports.

Naver Ventures will become the corporation’s first overseas investment firm. The subsidiary will focus on supporting promising startups.

Naver CEO Choi Soo-yeon calls Silicon Valley the cradle of innovation, where experienced specialists meet cutting-edge technology. He highlights that startups face increasing difficulties securing investment amid uncertainty.

Naver Ventures aims to back such companies, helping them develop technology and expand into the US market.

The venture’s first investment target is the South Korean startup Twelve Labs, which develops artificial intelligence (AI) technologies for video content...

US President Donald Trump promises to restore order in Los Angeles and end ongoing protests against policies on illegal migration. He announced this on his social media platform, Truth Social.

«Order will be restored, illegals will be expelled, and Los Angeles will be liberated,» Trump stated.

Earlier, Trump ordered the deployment of National Guard troops to the city. However, California authorities called on the president to withdraw this decision, describing it as illegal and a violation of the state’s sovereignty.

Democratic governors from other states also expressed support for California’s position.

Kabul could run out of drinking water within five years, according to The Guardian, citing the humanitarian organisation Mercy Corps.

Mercy Corps estimates that the Afghan capital has already lost half of its wells due to drying out. Climate change and rapid population growth are worsening the situation.

Most residents rely on polluted water, while some households spend up to 30% of their income on it. Mercy Corps has urged the international community to address the crisis to prevent increased migration and a further decline in living conditions for Afghans.

In 2024, Afghan authorities reported that 21 mln people...

Uzbek investors have not confirmed plans to build a logistics hub at Iran’s Shahid Rajaee Port, according to Grigory Mikhailov, editor-in-chief of LogiStan.info, speaking to 1520international.

He noted that Tashkent and Tehran have only signed a memorandum of understanding.

«This is simply a declaration of intent with no detailed obligations. Any projections or expectations around the project remain highly speculative,» Mikhailov said.

He added that the proposed location of the logistics hub in the port area could still change.

Shahid Rajaee Port lies on the northern shore of the Strait of Hormuz and...

Kazakhstan’s Ministry of Agriculture will raise funding for concessional leasing of agricultural machinery to KZT 450 bn (approx. $1 bn) in 2025. The goal is to accelerate the renewal of the country’s agricultural machinery fleet and improve access to modern equipment.

The government supports farmers through investment subsidies, concessional leasing, and interest rate subsidies. Farmers receive 15–30% compensation on equipment costs, while subsidised interest rates can be as low as 5% per year.

In 2024, the renewal rate of machinery reached 5.5%, up from 4.5% in 2023. Authorities aim to increase this to 6.5% in 2025 and 9% by...

Bulgarian President Rumen Radev will pay an official visit to Uzbekistan from June 9 to 11, according to the press service of Uzbek President Shavkat Mirziyoyev.

Radev will hold negotiations with President Mirziyoyev. The leaders will discuss increasing bilateral trade, launching joint pharmaceutical production, and boosting cooperation in agriculture and the mining sector.

Uzbekistan and Bulgaria also plan to expand collaboration through cultural and tourism initiatives. Following the talks, both presidents are expected to sign a package of bilateral agreements.

President Radev is also scheduled to attend the Tashkent International Investment Forum.

Previously, Kursiv Uzbekistan reported that Slovak Prime Minister...

Uzbek agricultural producers and food manufacturers have signed export contracts worth $3 mln at the international exhibition Made in Uzbekistan, taking place in Tbilisi from June 5 to 7, according to Yangi Uzbekistan.

The event opened with participation from Georgian officials and Uzbekistan’s Ambassador to Azerbaijan and Georgia, Bahrom Ashrafkhanov.

Leading Uzbek companies showcased their products at the exhibition, including Agro Star (fresh and dried fruits) and Sabe (Uzbek ice cream). Visitors took part in product tastings, trying a variety of Uzbek spices, sweets, and traditional dishes.

The Ministry of Agriculture, the Ministry of Investment, Industry and Trade, and the Chamber of Commerce and Industry...

Uzbek athlete Azam Rashidov secures Uzbekistan’s first gold medal at the SAMBO World Cup held in Yerevan, according to UzA.

Rashidov defeated competitors from Russia, Georgia and Turkmenistan. In the final, he faced Zhandas Beisenbayev of Kazakhstan and won the gold medal in the under 64kg weight category.

Four athletes represented Uzbekistan on the first day of the tournament. Ilkhom Parmanov narrowly missed out on a bronze medal, losing the third-place match to a Georgian athlete by a slim margin.

On the second day, Uzbekistan’s Ruzmatboy Rakhimberganov will compete in the under 71kg category.

Earlier, Kursiv Uzbekistan reported on...

Uzbekistan aims to launch its first scientific and technical satellite into orbit by 2028, according to Mukhiddin Ibragimov, Deputy Director of Uzbekcosmos, in an interview with Kazinform.

To carry out the mission, the country is negotiating with US-based aerospace company SpaceX, owned by Elon Musk.

However, Ibragimov noted that Uzbekistan must consider the global constraints on launch capacity and the pre-reserved windows allocated to other countries.

«Orbital launch dates are usually confirmed two to three years in advance. That’s why it is crucial to sign agreements early and prepare the technical specifications in...

Elon Musk received a black eye during a scuffle with US Treasury Secretary Scott Bessent shortly after leaving President Donald Trump’s office, The Washington Post reports.

According to former presidential adviser Steve Bannon, the argument erupted over the appointment of a new Commissioner of the Internal Revenue Service. During the exchange, Bessent reminded Musk of his earlier promise to cut $1 trillion in inefficient government spending and reportedly accused him of being a fraud.

Musk pushed Bessent in response, prompting the Secretary to punch him in the face. The situation escalated into a physical fight, which White House staff...

Prime Minister of Slovakia Robert Fico will pay an official visit to Uzbekistan from June 8 to 10, according to the press service of President Shavkat Mirziyoyev.

The two sides plan to hold high-level talks focused on trade, industrial cooperation, and energy. They will also discuss tourism development and labour migration.

Discussions will include mutual support in international platforms and broader areas of partnership.

Robert Fico is also expected to attend the Tashkent International Investment Forum, which will take place across several venues in the Uzbek capital from June 9 to 12.

Earlier, Kursiv Uzbekistan reported that Uzbekistan and...

President of Uzbekistan Shavkat Mirziyoyev met with BlackRock Senior Managing Director Adebayo Ogunlesi in Tashkent, according to UzA.

Chairman of the Board of Al Mirqab Capital, Hamad bin Jassim Al Thani, also attended the meeting.

The parties discussed the implementation of large-scale infrastructure and industrial projects in Uzbekistan through public-private partnerships.

Talks also focused on cooperation in sectors such as gas and power grids, water supply, energy production, and railway construction.

Following the meeting, the sides agreed to adopt a roadmap to advance priority projects in a systematic way.

BlackRock is the world’s largest investment firm by assets. The...

Bukhara is hosting the international «Silk and Spices» festival, bringing together artisans from ten countries, the Tourism Committee told Kursiv Uzbekistan.

The event is organised with the support of the committee, the city and regional administrations, the Hunarmand Association, and other partners.

Craftspeople from Afghanistan, Iran, Russia, Tajikistan, Kyrgyzstan, and several other countries are participating. More than 200 artisans from across Uzbekistan have also joined the festival.

Bukhara has hosted the «Silk and Spices» festival for over 20 years. This year’s programme includes folk performances, craft masterclasses, exhibitions, fashion shows, and a traditional plov celebration.

Earlier, Kursiv Uzbekistan reported that the number of...

Foreign Minister Bakhtiyor Saidov has highlighted the importance of the Trans-Afghan transport corridor for strengthening regional ties. He made this statement during the India-Central Asia Business Council meeting in New Delhi.

Saidov noted that the corridor offers the shortest route connecting Central and South Asia. He called on India to take an active role in regional transport initiatives that aim to boost trade and logistics between the two regions.

According to him, the project opens access to the Indian Ocean and can be integrated with other key corridors. This could speed up cargo movement and support economic development across...

American entrepreneur Elon Musk has raised the idea of creating a new political party in the United States.

«Isn’t it time to form a party in America that actually represents the 80%?» he posted on X.

Over 5.6 mln users took part in the poll on Musk’s page, with 80% voting in favour.

Earlier, Musk claimed that former President Donald Trump could not have won the US election without his support. He noted that he contributed $250 mln to Trump’s campaign.

The two later fell out after Musk criticised Trump’s budget policy...

Uzbekistan and Kazakhstan are launching a joint project to plant saxaul trees across the dried-up Aral Sea bed in the border region. Leili Seitova, Minister of Ecology of Karakalpakstan, shared the update in an interview with Kazinform.

She noted that the two countries aim to co-develop and implement solutions focused on saxaul planting, as the tree plays a key role in containing salt and dust storms. A delegation of Kazakh experts has already visited Karakalpakstan to study Uzbekistan’s experience in this area.

Seitova emphasised that fully restoring the Aral Sea is no longer possible, but protecting the remaining water bodies...

From January to April 2025, the number of tourists from Italy visiting Uzbekistan grew by 11.3% compared to the same period last year, according to the State Statistics Agency.

Over four months, more than 11.1 thousand Italian citizens entered the country. Of these, 10.4 thousand came for tourism purposes.

An additional 385 Italians visited relatives, while 247 arrived for business and 34 for education.

In April alone, Uzbekistan welcomed 1 mln foreign visitors — the highest monthly figure ever recorded for inbound tourism.

Earlier, Kursiv Uzbekistan reported that tourist arrivals from Iran to Uzbekistan had tripled.

From January to May 2025, Uzbekistan became the second-largest importer of goods from Belarus via the Belarusian Universal Commodity Exchange (BUCE), according to data shared on BUCE’s official Telegram channel.

Belarusian exporters increased their trade volume with Uzbekistan through the exchange by 2.8 times.

The main products included sawn timber, meat products, and powdered milk. The total export value reached $47.6 mln.

To boost trade, the exchange signed an information cooperation agreement with the Uzbekistan National Economic Cooperation Association.

«BUCE has accredited 216 Uzbek resident companies, including three brokers. Since the beginning of...

In 2024, the Russian energy giant Gazprom increased natural gas exports to Uzbekistan via the Central Asia–Center trunk pipeline system by a factor of 4.4, according to the company’s annual report reviewed by Kursiv Uzbekistan.

Over the past year, gas deliveries reached 5.64 bn cubic meters, compared to 1.28 bn cubic meters in 2023 — a 340.6% increase.

During the winter of 2023–2024, exports operated at the maximum technically allowable capacity of the pipeline system.

Exports to Uzbekistan began in October 2023 and are conducted in reverse flow mode through a special route utilizing sections of Central Asia–Center IV and...

UEFA has released its updated club coefficient rankings as of June 2025, reflecting the performance of European teams in UEFA competitions over the past five seasons.

Manchester City secured second place, trailing only Real Madrid. The English club continues to deliver strong results in the Champions League and remains one of Europe’s most consistent powerhouses.

AS Roma climbed to ninth place, overtaking the likes of Barcelona and AC Milan. The Italian side continues to earn points in UEFA competitions, steadily strengthening its position in European football.

Top 5 clubs in the ranking:

Argentina secured an important victory over Chile in a 2026 FIFA World Cup qualifying match, held at the Julio Martínez Prádanos Stadium. The game ended with a 1–0 win for the visitors.

The only goal of the match came in the 16th minute, when Julián Álvarez finished off a fast team attack. The early strike proved decisive, helping Argentina strengthen its position at the top of the South American qualifying table.

A highlight of the match was the return of Lionel Messi, who stepped onto the field in the 57th minute, replacing midfielder Pass. His comeback was a major...