News

Toto Wolff has sold 15% of his stake in the Mercedes Formula 1 team to American billionaire George Kurtz, founder of cybersecurity firm Crowdstrike, which sponsors Mercedes.

The deal values Mercedes F1 at $6 bn (£4.6 bn), setting a record for a Formula 1 team. By comparison, McLaren was valued at £3.5 bn following a change in ownership in September. Wolff’s holding company owns a third of Mercedes F1, so the 15% stake sold represents 5% of the overall team. Wolff will receive $300 mln (£230 mln) but will remain as team principal and CEO, with governance unchanged.

Kurtz...

Uzbekistan plans to increase the share of energy-efficient and environmentally friendly products in the construction materials sector to 25% next year and 35% by 2030, according to a presentation reviewed by President Shavkat Mirziyoyev.

The government intends to implement 112 projects worth $2.4 bn, creating 13,500 new jobs. In the long term, the project portfolio is expected to grow to $3.5 bn. Five major projects, valued at $110 mln, will be of strategic importance. Next year, 40 projects focusing on deep processing of kaolin, worth $515 mln, will be launched alongside the training of 460 specialists.

Export potential was...

President Shavkat Mirziyoyev has signed a decree outlining Uzbekistan’s tourism development strategy for the coming years. The share of tourism in the country’s GDP is set to rise from 3.5% to 7% by 2030.

The annual flow of foreign visitors is expected to increase from 10 mln to 20 mln, with a focus on attracting high-spending tourists. Annual exports of tourism services are planned to exceed $6 bn. A key priority is improving transport connectivity between tourist cities, including expanding domestic flight networks and cutting travel times by at least threefold.

Infrastructure goals include doubling the number of four...

The historic Itchan-Kala complex in Khiva is set to become the world’s first immersive smart museum-city, under a presidential decree by Shavkat Mirziyoyev.

Other tourism initiatives include the creation of a «Samarkand Heritage Route». Tashkent will also promote modernist monuments for UNESCO World Heritage status and aim for recognition as the city with the highest number of mosaics.

A new deputy chair position will be introduced at the Committee for Tourism Product Promotion, responsible for overseeing the National PR Centre and international offices. These offices will open in several countries to promote Uzbek tourism abroad.

The committee has...

Activity among microfinance organisations (MFOs) and pawnshops in Uzbekistan rose noticeably by the end of the third quarter of 2025, according to a report from the Central Bank of Uzbekistan.

During this period, both assets and capital of these institutions increased. However, the regulator noted that higher interest rates and rising problem loans also heightened risks. The report shows that 90% of lending, equivalent to 19.2 trln soums ($1.6 bn), was extended to individuals, while loans to businesses grew to 1.2 trln soums ($101 mln) by early October.

In the third quarter, 26 new microfinance institutions and pawnshops opened across...

Gold prices reached historic levels in 2025, with spot gold briefly touching $4,381 per troy ounce in October, BestBrokers reports. Rising geopolitical tensions, economic uncertainty, and central bank policy changes have strengthened gold’s role as a safe-haven asset, prompting many countries to increase holdings.

While most nations, including Poland, Kazakhstan, China, and Turkey, expanded their gold reserves this year, Uzbekistan took the opposite approach. The Central Bank of Uzbekistan sold more gold than it purchased, resulting in a net reduction of 16.8 tonnes, making it the largest net gold seller of 2025. The bank’s transactions reflect standard reserve management...

According to a presidential decree by Shavkat Mirziyoyev, Uzbekistan will launch a Unified Tourism Platform and mobile application from July 1, 2026. The system will allow foreign visitors to activate e-SIMs instantly and complete registration at their place of stay automatically.

The platform will enable users to plan travel routes, choose transport options, and purchase tickets online. A unified ticket system will also be introduced, giving access to museums, cultural sites, and various events. By the end of 2026, the platform will incorporate artificial intelligence and big data analytics.

In addition, the process for renting out holiday homes will...

From February 1, 2026, foreign citizens in Uzbekistan will be able to receive cash refunds on VAT for goods purchased in the country when leaving. This measure is part of a presidential decree by Shavkat Mirziyoyev.

Incentives for businesses

Starting March 1, 2026, the Tourism Support Fund will finance several initiatives. Each year, the ten best tourism startups will receive subsidies covering up to 50% of development and implementation costs, with a maximum of 1 bn soums ($83,930) per project. Hotels will also be reimbursed for half of the expenses required to obtain international green certifications.

From April...

Pennsylvania Governor Josh Shapiro has commented after it emerged that Uzbek national Akhror Bozorov, wanted in his home country for promoting jihadist content, had obtained a commercial driver’s licence (CDL) in the state.

Shapiro explained that the state had followed standard federal checks through the Systematic Alien Verification for Entitlements (SAVE) database. He said Pennsylvania had no reason to deny Bozorov’s application because the federal database did not indicate he was wanted.

“We checked the federal database months ago, when this individual received his CDL, and he was authorized to get it by the...

The United States Department of Transportation has cautioned Pennsylvania authorities that the state may forfeit nearly $75 mln in federal funding following breaches linked to the issuing of commercial driving licences (CDL). The warning was outlined in a statement released on November 20.

An investigation by the Federal Motor Carrier Safety Administration found that Pennsylvania had unlawfully granted commercial licences to foreign nationals who were living in the country without legal status. According to the report, some recipients were deemed unsuitable and not properly qualified.

Transport Secretary Sean P Duffy said the state must revoke the licences issued in...

Lewis Hamilton has pushed back at Ferrari chairman John Elkann’s suggestion that he and Charles Leclerc should «focus on driving and talk less» after the team’s double retirement in Sao Paulo. The result dropped Ferrari to fourth in the constructors’ standings.

Ahead of the Las Vegas Grand Prix, Hamilton said the criticism was misplaced. «I wake up thinking about driving and I go to sleep thinking about it,» he said, adding that the real challenge this year has been learning how to switch off during a demanding season.

Hamilton said he did not take Elkann’s words personally.

Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of Uzbekistan’s state-owned oil and gas company JSC Uzbekneftegaz (UNG) at ‘BB’ with a Stable Outlook, keeping the rating in line with the sovereign. The company’s senior unsecured rating was also affirmed at ‘BB’ with a Recovery Rating of ‘RR4’.

Fitch said UNG’s rating is equalised with that of Uzbekistan (BB/Stable) due to the company’s full state ownership, strategic role in supplying domestic energy and strong state support, including guarantees on 37% of its consolidated debt as of end-June 2025. The agency assesses both oversight and precedents of support...

A Mexican woman has been handed a 20-year prison sentence for her part in the killing of three tourists during a carjacking last year, according to the BBC.

Ari Gisell, aged 23, admitted that she set in motion the violent attack on Australian brothers Jake and Callum Robinson and their American friend Carter Rhoad. The trio had vanished while on a surfing trip in Baja California in April 2024.

Their bodies were later found at the bottom of a deep well with gunshot wounds to the head.

The court heard that Gisell had taken an interest in the tyres...

An artificial intelligence robot gave a short dance performance for President Vladimir Putin on November 19 during a technology exhibition organised by Sberbank, Russia’s largest lender, Reuters reports. The display, broadcast on state television, showed the Russian leader facing the humanoid machine as it introduced itself before moving to what it claimed was its favourite song.

«My name is Green. I am the first Russian humanoid robot with built-in artificial intelligence. This means I am not simply a programme on a screen but a physical form of advanced technology,» the robot said.

Sberbank noted...

A documentary film titled «Uzbekistan The Golden Road» has been produced through a collaboration between the Agency for Strategic Development and Reforms, the Tourism Committee and Uzbekistan’s Embassy in London.

Directed by British historian, writer and TV presenter Bettany Hughes, the film explores Uzbekistan’s rich history and growing tourism potential. It highlights landmarks across Karakalpakstan, Bukhara, Jizzakh, Kashkadarya, Samarkand, Surkhandarya and Khorezm regions. The documentary also features in-depth interviews with historians, archaeologists, museum professionals and other experts.

The film premiered on October 18 in prime time on the British channel Channel 4, attracting strong interest from the UK audience...

In October, Uzbekistan’s real estate market recorded 27,100 transactions. This marks a 12% increase from September and the highest monthly figure since August 2023, according to the Centre for Economic Research and Reforms (CERR).

The report highlighted that Khorezm, Bukhara and Tashkent regions saw the most significant growth, with deals rising around 26% on average over the month.

In the capital, the volume of residential sales increased by 5.3% month-on-month and showed a 32% rise compared with last year. The secondary market also saw growth, with average prices per square metre climbing 2.4% over the month and 7.4% year-on-year.

In...

Kevin Costner is in talks to play former US President Bill Clinton in the political drama series United, sources have confirmed, Variety reports. The project, still in early development, is being produced in association with the United Nations, with Costner also serving as executive producer alongside Leonardo DiCaprio.

The series will be written and directed by Night Hunter filmmaker David Raymond and will showcase true stories of humanitarians displaying courage and perseverance in efforts to improve the world. Production companies involved include Appian Way, Onwards Studios, and Prime Focus DNEG, with Fifth Season handling distribution. Raymond has previously collaborated...

President Shavkat Mirziyoyev has set a key goal for Uzbekistan in 2026 to reduce poverty and unemployment by 4.5%.

To achieve this, the government plans to allocate 450 trln soums ($27.8 bn) in loans to the economy, with 140 trln soums ($11.75 bn) specifically earmarked for small and medium-sized projects within local communities. Since the start of the year, 261 officials responsible for poverty reduction targets have been dismissed for failing to meet objectives, while another 492 received disciplinary measures.

The president emphasised that the most vulnerable families remain in need. He called on deputy hokims, heads of employment...

Tashkent Mayor Shavkat Umurzakov hosted a delegation from New York led by Mayor Eric Adams at the city administration headquarters.

The meeting focused on key issues in urban development, with both sides sharing experiences on modernising city infrastructure and exploring potential areas of cooperation between Tashkent and New York.

Umurzakov introduced the delegation to the main directions of the «Tashkent Development Strategy until 2030», highlighting major urban and investment projects such as the «New Tashkent» initiative, the creation of the «Yangi Avlod» industrial zone, and the development of new public spaces.

Discussions also covered ongoing reforms in transport, logistics...

Uzbekistan has established a National Ecology and Climate Change Committee, following a decree signed by President Shavkat Mirziyoyev. The new body is built on the former Ministry of Ecology, Environmental Protection and Climate Change and will operate independently of the Cabinet of Ministers while keeping existing staff.

The committee will lead and oversee state policy on environmental protection, climate change mitigation, forest expansion, desertification prevention, and the nationwide Yashil makon (Green Land) tree-planting initiative. Its chairperson will also serve as the president’s adviser on ecological matters. Aziz Abdukhakimov, previously ecology minister, has been appointed to lead the committee.

Regional...

In the first ten months of 2025, Uzbekistan exported gas to China worth $695.5 mln, TASS reports.

Russia remained the largest supplier to China, increasing its exports by 17.8% to $7.85 bn. Turkmenistan followed with $7.03 bn, despite a decline of 12.9%. Other major suppliers included Myanmar with $1.29 bn, Kazakhstan with over $945.73 mln, and then Uzbekistan.

Earlier this year, Russia and China signed a major agreement on gas supplies, which includes an annual delivery of 106 bn cubic metres, solidifying Russia’s position as a key energy partner.

Kursiv also reports that Kazakh President Kassym-Jomart Tokayev announced during his...

President Donald Trump has signed a law directing the Justice Department to make public documents from its long-running investigation into convicted sex offender Jeffrey Epstein. The files, highly anticipated by both Trump critics and supporters, are expected to provide further insight into Epstein’s activities and connections.

Epstein, who socialised with Trump and other high-profile individuals before his 2008 conviction for soliciting a minor for prostitution, has remained a source of controversy. The case has weighed on Trump politically, particularly as he has promoted conspiracy theories about Epstein to his base.

Many of his supporters suspect the government covered up Epstein’s...

Uzbekistan’s national football team have improved their standing in the November 2025 FIFA World Ranking, moving up to 50th after collecting 1462.03 points.

The team held 1452.34 points in October when they sat 55th, meaning they have advanced by five places. Among post-Soviet nations, Ukraine lead the group in 28th while Russia follow in 33rd.

Belarus have shifted up to 99th, Tajikistan now sit 101st and Kyrgyzstan hold 104th. Armenia have slipped to 106th, with Kazakhstan ranked 115th and Azerbaijan 127th. Estonia are positioned 130th.

The lowest ranked CIS nations are Turkmenistan in 137th, Latvia in 140th, Lithuania in...

The United States has widened its sanctions regime against Russia by targeting a fresh group of individuals and companies, including newly listed firms in Uzbekistan. The additions have been made under the Ukraine and Russia related sanctions framework. A particular emphasis was on actors tied to cyber activity and CAATSA violations.

Among the designated individuals are several Russian nationals. Maksim Makarov, born in 1989, has been sanctioned alongside a note linking him to AEZA Group LLC. Also added is Yulia Pankova, born in 1996 in St Petersburg, who faces similar penalties.

Another figure, Aleksandr Volosovik, known under several aliases...