News

Several banks have updated the rates for exchanging foreign currencies for UZS on July 25. This article contains information about the most favorable rates.

Here are Central Bank Reference Rates to exchange USD, EUR, GBP, CHF, JPY, or KZT into soums:

Several banks offer best rates to exchange USD, EUR, GBP, CHF, JPY, or KZT into soums:

Financial institutions may change the value of currencies...

Cultural artifacts seized during attempts to illegally export them abroad will become part of the exhibition at the Center of Islamic Civilization in Tashkent. The Customs Committee has handed over 267 ancient coins and pieces of jewellery to the center, according to the committee’s press service.

The items were discovered with smugglers at a customs checkpoint in the Surkhandarya region. Expert analysis confirmed their historical and cultural value, and a court ruled to confiscate the finds in favor of the state.

The Chairman of Uzbekistan’s Customs Committee, Akmalkhuja Mavlonov, personally presented the future exhibits to the head of the...

According to data presented to the President of Uzbekistan, Shavkat Mirziyoyev, during a briefing on the activities of the Accounts Chamber, audits helped reduce inefficient budget spending by 5.6 trillion soums in the first half of 2025.

Through inspections, an additional 5 trillion sums were brought into the state treasury as reserve funds. Violations amounting to 4 trillion sums were eliminated thanks to the “Remote Audit” platform.

There are plans to expand the financial control system to ten more government agencies. This mechanism has already been implemented in 12 ministries. The head of state instructed officials to modernize...

On July 24, 2025, the Ministry of Energy of Uzbekistan, the State Oil Company of the Azerbaijan Republic (SOCAR) and Uzbekneftegaz JSC signed a Production Sharing Agreement (PSA) for joint geological exploration and hydrocarbon development in the Ustyurt oil and gas region.

The agreement represents a milestone in Uzbekistan–Azerbaijan strategic energy cooperation, made possible through the shared vision and political will of Presidents Shavkat Mirziyoyev and Ilham Aliyev. It lays the groundwork for long-term collaboration in the exploration and commercial production of hydrocarbons.

Under the terms of the agreement, the parties plan to conduct 3D seismic surveys over an...

Presidet of Uzbekistan, Shavkat Mirziyoyev celebrates his birthday today. Born on July 24, 1957 in Zaamin district, Jizzakh region, Mirziyoyev graduated from the Tashkent Institute of Irrigation and Agricultural Mechanisation in 1981. He began his career as a junior researcher, later becoming a senior lecturer, associate professor and vice‑rector there.

In 1990 he was elected to the Supreme Soviet, chairing its Mandate Commission. He went on to serve as khokim (administrative head) of Mirzo‑Ulugbek district in Tashkent (1992), then governor of Jizzakh (1996–2001) and Samarkand region (2001–2003), significantly boosting local socio‑economic development.

Prime Minister and Presidential Ascendancy

From...

South Korea’s Deputy Permanent Representative to Geneva, Choi Sung-yo, has been appointed chair of the World Trade Organization (WTO) working party overseeing Uzbekistan’s accession, according to Yonhap News Agency.

Choi’s candidacy was approved during the WTO General Council meeting held in Geneva on 23 July. South Korea has led the working group supporting Uzbekistan’s path to WTO membership since 2013.

Ambassador Sung-yo Choi reiterated Korea’s commitment to the WTO Chairs Programme on July 2, emphasizing that in the face of growing challenges to multilateralism, a cooperative, rules-based system is more vital than ever.

The chair of the working party...

Sony Group Corporation and Bandai Namco Holdings Inc. have announced a strategic business alliance aimed at deepening collaboration in the entertainment sector, particularly in the fast-growing anime and intellectual property (IP) market. As part of the agreement, Sony will acquire 16 mln shares in Bandai Namco, valued at approximately ¥68 bn, making it a shareholder with a 2.5% stake in the company.

This partnership brings together two of Japan’s entertainment powerhouses, uniting Sony’s expertise in content production and global distribution with Bandai Namco’s expansive IP portfolio, which includes beloved franchises in anime, manga, video games and toys.

Strengthening...

Chinese President Xi Jinping opened the 25th European Union–China Summit in Beijing on Thursday with a pointed call for the EU to “make correct strategic choices,” amid rising tensions over trade, rare earth exports, and the war in Ukraine, as reported by Reuters.

Hosting European Commission President Ursula von der Leyen and European Council President Antonio Costa at the Great Hall of the People, Xi emphasised the need for enhanced communication and cooperation in what he described as a «severe and complex international environment.»

«The more complicated the global situation, the more China and...

Uzbekistan and Russia have agreed to expand their air travel ties, authorising more than 1,000 regular weekly flights between the two countries, the Uzbek Ministry of Transport reports.

The expanded agreement opens the way for over 16 mln passengers annually, provided flight frequencies are fully used and tourist flows continue rising. In 2024, bilateral air travel reached 4.1 mln passengers across 32,600 flights, and the first five months of 2025 have already seen a 7.1% increase year-on-year.

The deal not only boosts overall flight numbers but also outlines a detailed distribution of routes between major cities:

Russia and Ukraine agreed to a major prisoner exchange during their third round of direct talks in Istanbul on Wednesday of July 23, though little progress was made on a broader ceasefire or a potential presidential summit as reported by CNN.

The meeting, hosted by Turkish officials at the historic Ciragan Palace, ended in under an hour. Ukrainian delegation head Rustem Umerov proposed a summit between President Volodymyr Zelensky and Russian President Vladimir Putin by the end of August, with the participation of U.S. President Donald Trump and Turkish President Recep Tayyip Erdogan. However, Russia’s lead negotiator, Vladimir Medinsky...

Uzbekistan’s business climate has reached its strongest point in two years, according to a nationwide survey conducted by the Centre for Economic Research and Reforms (CERR) shared with Kursiv. The Business Climate Index rose to 63 points in June 2025, marking a 10-point increase year-on-year and the highest reading since 2023.

This upturn reflects growing confidence among entrepreneurs, supported by improved demand, employment and expectations for continued economic stability. The index rose by 2 points compared to May, showing consistent upward momentum since the start of the year.

The index, based on surveys of over 1,000 enterprises across key industries...

Jenna Ortega returns as Wednesday Addams in Wednesday Season 2, which will roll out in two parts: Part 1 premieres August 6, followed by Part 2 on September 3. The new season promises a darker, more complex storyline as Wednesday navigates old foes, new mysteries and deeper family entanglements at Nevermore Academy, announces streaming platform Netflix.

Season 2 expands the Addams Family universe with returning stars Catherine Zeta-Jones, Luis Guzmán, Isaac Ordonez and Fred Armisen. New cast members include Steve Buscemi as Nevermore’s new principal, Joanna Lumley as Grandmama, and a guest appearance by Lady Gaga as an...

Uzbekistan is expected to maintain strong economic growth of 5.5% in 2025, driven by public and private investment, growing household consumption and structural reforms. However, according to the Asian Development Bank’s latest July 2025 Outlook Update, the country faces greater vulnerability to global trade tensions than other Central Asian states, particularly due to its rising exposure to US tariff increases.

The report notes that while the growth forecast for Uzbekistan remains unchanged from April, new US tariffs introduced earlier this year are likely to impact Uzbekistan more acutely than its neighbours, especially in sectors linked to global supply chains...

Netflix’s gothic hit Wednesday, led by Jenna Ortega as the sardonic heroine, has officially been renewed for a third season, even before the second chapter premieres on August 6. The early green light signals the show’s growing momentum and enduring popularity.

Set once more at the eerie Nevermore Academy, Season 2 is poised to deliver even darker, more layered narratives, while preserving the signature deadpan humour that helped catapult the series into streaming history. Season 1 of Wednesday remains the most-watched English-language series on Netflix to date.

According to showrunner and co-creator Alfred Gough, the...

CitiBank has opened a representative office in Tashkent, according to Grant Carson, a representative of the financial institution, who announced the news on LinkedIn.

“This new chapter allows us to be even closer to our clients and partners, helping them connect to global opportunities and navigate an increasingly dynamic landscape,” he emphasised.

Carson added that the ongoing reforms in Uzbekistan have made it possible for the bank to expand its presence in the country.

Earlier this July, Uzbekistan’s Central Bank accredited the representative office of Turkish-based CitiBank, a subsidiary of CitiBank. The office...

Several banks have updated the rates for exchanging foreign currencies for UZS on July 24. This article contains information about the most favorable rates.

Here are Central Bank Reference Rates to exchange USD, EUR, GBP, CHF, JPY, or KZT into soums:

Several banks offer best rates to exchange USD, EUR, GBP, CHF, JPY, or KZT into soums:

Financial institutions may change the value of currencies...

A new training center for skilled workers preparing to work in Germany will be established in Uzbekistan’s Fergana region. The initiative was discussed during a meeting between regional officials and representatives of the German company Simson Private Akademie, according to the regional khokimiyat.

The center, to be opened by Simson Private Akademie, will train Uzbek citizens in high-demand fields such as metalworking, electrical engineering, and other technical professions, based on the company’s educational programs. German language courses will also be offered, and graduates will receive internationally recognised qualification certificates.

Simson Private Akademie also plans to assist graduates in securing employment...

The Central Bank of Uzbekistan has reported that the country’s money supply reached 312 trillion soums as of January–May 2025, reflecting a 32.2% increase compared to the same period last year.

Cash turnover through banks for the first half of the year totalled 563 trillion soums, with 277 trillion soums in deposits and 286 trillion soums in withdrawals, representing an annual growth of 23%.

The share of payments made via terminals rose from 41% to 43% over the past year, while the share of physical cash in circulation declined by 2.2 percentage points to 18.9%. In total, the Central Bank...

The Central Bank of Uzbekistan has postponed its upcoming meeting on the key interest rate, according to an official statement from the regulator.

The meeting was originally scheduled for July 24, but has been delayed due to the pending release of important economic data for the first half of the year, including figures from Uzbekistan’s key trading partners. These statistics are expected to be published by the end of July.

The Central Bank noted that it considers this data essential for accurately assessing the current economic landscape and forming monetary policy forecasts. A new date for the meeting will...

Construction of a gas compression station (GCS) at the Surgil gas field in Karakalpakstan has been completed, according to the press service of Enter Engineering, the project’s general contractor.

The new facility will increase the pressure of natural gas for delivery to the Ustyurt Gas Chemical Complex, where it is processed into polymers used across various industries. The station is designed to handle up to 1.8 bn cubic meters of gas annually.

The station is equipped with two high-capacity gas compressor units manufactured by Baker Hughes. Commissioning and adjustment work is currently underway.

The launch of the GCS will allow...

S&P Global Ratings has raised the long-term credit rating of Uzbekistan’s Kapitalbank from B+ to BB-, with a Stable outlook. The bank’s short-term rating was affirmed at B. The agency cited consistent profitability, stable asset quality, and strengthened capital as key factors behind the upgrade.

S&P expects Kapitalbank to maintain strong financial performance throughout 2025, with an interest margin of 8–8.5% and a return on equity (ROE) between 25% and 27%, aligning with leading market players. As of June 1, 2025, Kapitalbank held an 18.1% share of the retail deposit market, affirming its status as a systemically important financial institution.

Taiwan Semiconductor Manufacturing Company (TSMC) has become the first Asian company to reach a market capitalisation of $1 trln, closing at a record high on July 18, Forbes reports. The surge reflects growing investor confidence in the firm’s dominance as the leading global semiconductor manufacturer, amid a booming demand for artificial intelligence (AI) technologies.

According to Bloomberg, the company’s value reached NT$29.82 trln ($1.013 trln) on the Taiwan Stock Exchange, with its shares closing at NT$1,150 ($39.10). Meanwhile, its US-listed depositary receipts closed at $240.40 on July 18 and continued to rise slightly in premarket trading on July 21.

Halyk Bank of Kazakhstan has signed a strategic agreement with Uzbekistan’s fintech leader Click, acquiring 49% of Click for $176.4 mln. In return, Click’s shareholders will purchase 49% of Halyk’s Uzbek subsidiary, Tenge Bank, for $60.76 mln. Both deals are subject to regulatory approval.

The agreement enables both companies to remain legally independent while collaborating to expand their presence in Uzbekistan’s growing digital finance sector.

Halyk is Central Asia’s largest financial group, with over $37.5 bn in assets and investment-grade credit ratings. Click serves more than 20 mln users in Uzbekistan and offers a wide range of digital services...

Uzbekistan and Kazakhstan have agreed to collaborate on the conservation of the saiga antelope, a critically endangered species native to Central Asia. The two countries’ ministries of ecology are preparing to sign a memorandum of understanding (MoU) to formalize their cooperation.

The agreement will serve as a framework for joint conservation projects aimed at protecting and increasing the saiga population in Uzbekistan, where the species is listed in the national Red Book of endangered animals.

The saiga is a steppe-dwelling antelope that once roamed vast areas across Uzbekistan, Kazakhstan, Turkmenistan, and southern Russia. Its numbers have dwindled sharply in...