News

The International Monetary Fund (IMF) has assessed Uzbekistan’s financial sector against Basel principles, noting significant progress since 2019. According to its report, the share of banks with state participation in total sector assets has fallen to 67%, compared with 84% in 2019.

Other positive developments highlighted by the IMF include the growth of total sector assets to 690 trln soums ($54.4 bn), advances in the deposit insurance system and a reduction in the proportion of mortgage borrowers without official income to 43% in 2024.

The fund identified several strengths in Uzbekistan’s banking system, such as the adoption of a...

On August 11, Uzbekistan will experience dry and sunny weather with no rainfall expected. Winds will generally blow at 7–12 m/s, occasionally intensifying to 13–18 m/s in some areas, bringing dust at ground level. Daytime temperatures will range from 35°C to 40°C, rising to 42°C in the southern and desert regions.

In Tashkent, conditions will also remain dry with winds at 5–10 m/s. Temperatures in the capital are forecast at 38°C to 40°C.

Mountain areas will see clear skies without precipitation. Winds will reach 7–12 metres per second, with occasional gusts up to 13–15 m/s. Daytime temperatures will be...

On August 10, an unexpected moment at Jennifer Lopez’s concert in Almaty captured the attention of both the audience and millions of internet users. While performing one of her songs, a grasshopper leapt onto the singer and began crawling up her body towards her neck.

Although the crowd in the arena reacted with concern, Lopez remained calm and composed. With a single motion she brushed the insect away, smiling as she said, «It was tingling me.»

Footage of the incident quickly spread across Instagram, TikTok and other social platforms, attracting hundreds of thousands of views and comments. Some joked...

Several banks have updated their rates for exchanging foreign currencies into UZS as of August 11. This article contains information about the most favourable rates.

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

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

Financial institutions may change the value...

Uzbekistan plans to start pouring the first concrete for a small nuclear power plant in Jizzakh region no later than March 2026. The order came from President Shavkat Mirziyoyev, according to Uzatom director Azim Akhmedkhadzhayev, who spoke to Uzbekistan 24 TV channel.

The timeline was discussed at a meeting on Tashkent’s energy supply. Officials briefed the president on preparatory work and cooperation with the International Atomic Energy Agency (IAEA).

Uzbekistan has joined four international nuclear safety conventions. IAEA experts have approved the site selection, and safety and environmental documentation is due to be finalised by the end of the...

A striking new still from Kiss of the Spider Woman, Bill Condon’s colourful adaptation of the Tony Award-winning musical, was unveiled at Collider’s Exclusive Preview event. The image captures Jennifer Lopez, as silver-screen icon Ingrid Luna, exuding old-Hollywood glamour in a cream silk gown and red lipstick, holding Tonatiuh’s Molina in a lavish dressing-room scene reminiscent of a Golden Age MGM production. A mirrored reflection hints at Ingrid’s dual nature — part dream, part survival — seen through Molina’s romantic imagination.

Adapted from Manuel Puig’s 1976 novel and the celebrated stage musical by Terrence McNally, John Kander and Fred...

Uzbekistan will roll out a new employment platform aimed at helping university graduates find jobs in the private sector. The initiative was announced during a meeting chaired by President Shavkat Mirziyoyev.

Officials say excessive bureaucracy has discouraged entrepreneurs from hiring graduates. To address this, a new performance indicator will be added to the business rating system, reflecting the number of graduates a company employs. Employers will be able to post vacancies specifying the relevant field of study.

Universities and their career centres will be linked to the platform, allowing them to share employer details with graduates. Businesses that hire...

An Uzbek national has died in the Bulgarian city of Sozopol, the Foreign Ministry of Uzbekistan reports.

Officials said that as soon as the information was received they contacted the country’s Consulate General in Istanbul, which is responsible for Bulgaria. Uzbek diplomats are now working with Bulgarian authorities and the deceased’s relatives. The cause of death has not yet been determined.

In early June another Uzbek citizen was seriously injured while working at a factory in Sofia. He was hospitalised in the capital with severe injuries.

Kursiv also reports that since the beginning of 2025, 23 Uzbek citizens...

Artificial intelligence is edging out junior staff, partners are leaving major firms, and tech-driven competitors and private equity are rapidly reshaping the market once dominated by familiar names. Consulting is entering a new era, where the brand is no longer the main asset.

The global consulting industry is undergoing an unprecedented transformation driven by multiple pressures. Leading consulting firms are being forced to rethink established models: AI is automating many routine tasks, clients are demanding faster and more tangible results, and new competitors — from tech giants to private equity-backed players — are entering the scene.

At the same time...

On August 8, 2025, Azerbaijani President Ilham Aliyev, US President Donald Trump and Armenian Prime Minister Nikol Pashinyan signed a Joint Declaration in Washington following talks between the leaders of Azerbaijan and Armenia.

The declaration states that Aliyev and Pashinyan, together with Trump, witnessed the initialling of the agreed text of the Agreement on the Establishment of Peace and Interstate Relations between the Republic of Azerbaijan and the Republic of Armenia by their respective foreign ministers. The parties underlined the need to take further steps to sign and ratify the agreement and stressed the importance of consolidating peace between...

Uzbekistan’s president Shavkat Mirziyoyev told Russian leader Vladimir Putin in a telephone conversation on August 8, that he supports diplomatic and political efforts to find a settlement to the crisis in Ukraine.

Putin used the call to brief Mirziyoyev on his recent meeting with US special envoy Steve Witkoff, which took place at the Kremlin on August 6.

According to official accounts, the two presidents also reviewed ways to deepen trade and economic cooperation, to step up mutual investment and to develop joint projects between their countries.

They agreed to intensify humanitarian and business exchanges and outlined plans for...

On August 9, 2025, dry and hot weather is expected across Uzbekistan. Daytime temperatures will range between 35°C and 40°C, with winds of 7–12 m/s.

In Tashkent, conditions will remain clear and rain-free. Winds will be lighter at 3–8 m/s, while temperatures are forecast to reach 37–39°C.

Mountain areas will also remain dry, with temperatures between 27°C and 32°C. Winds in these regions will blow at 7–12 m/s, occasionally strengthening to 13–18 m/s.

Air Quality in Tashkent

Data from automated monitoring stations at 09:00 (GMT+5) showed that pollution levels in the capital remain within safe limits:

Several banks have updated their rates for exchanging foreign currencies into UZS as of August 9. This article contains information about the most favourable rates.

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

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

Financial institutions may change the value...

Cristiano Ronaldo has voiced his confidence in Sporting CP’s ability to remain competitive following the high-profile departure of Viktor Gyokeres, who joined Arsenal in a £64 mln move last month.

Speaking to CNN Portugal, Ronaldo acknowledged the striker’s impact at Sporting but emphasized the need for his former club to adapt and move forward.

«Gyokeres was a special player, but the team will have to adapt,» said Ronaldo, who launched his professional career at Sporting before joining Manchester United in 2003.

Arsenal secured the signature of the Swedish international after fending off interest from Manchester...

Sharon Osbourne has spoken out against what she calls “false press” regarding the amount of money raised for charity by Back to the Beginning, Black Sabbath’s farewell concert held on July 5 at Birmingham’s Villa Park.

Billed as a historic moment in heavy metal history, and widely praised as the greatest metal concert of all time, the event marked Ozzy Osbourne’s final live performance and featured a powerhouse lineup including Metallica, Slayer, Guns N’ Roses, Tool and others. The show was livestreamed globally, with proceeds pledged to Acorns Children’s Hospice, Birmingham Children’s Hospital, and Cure Parkinson’s.

A total of 25K tickets were sold for Jennifer Lopez’s concert at the Bunyodkor Stadium in Tashkent, according to Uzbekistan 24. Of those, 15K were purchased by foreign visitors, with Russians making up the majority — 7,500 attendees — followed by 2,500 from Kazakhstan. Ticket prices started at 800K soums.

While the Uzbek government has yet to announce how much revenue the country earned from the event, the condition of the stadium’s grass pitch after the concert became a hot topic among local football fans.

Post-concert damage to Bunyodkor Stadium turf. Photo: Tribuna.uz

Diyor Imamkhodjayev, head of Uzbekistan’s Professional Football...

Enterprises in Uzbekistan will be eligible for preferential loans of up to 5 bn soums at an 18% interest rate if they hire university graduates, President Shavkat Mirziyoyev announced during a recent government meeting.

The loan amount will be tied to the number of young specialists employed. For example, a company applying for a loan of up to 1 bn soums must hire at least one graduate. To receive the maximum 5 bn soums, the business must employ at least five graduates.

However, if the company terminates the graduate’s employment within two years, the preferential interest rate will be revoked...

Alarming projections that climate change could reduce global GDP by 62% by the year 2100 have turned out to be significantly overstated—due to a critical error in data relating to Uzbekistan, according to a new review by Stanford University researchers.

The original study, published a year ago in Nature, claimed that the global economy was on track to lose 19% of its GDP by 2050 and 62% by 2100 due to climate-related impacts. These forecasts gained widespread media coverage and were cited in policy planning by the U.S. government and the World Bank.

However, further analysis revealed that these...

A hacker group known as Paper Werewolf launched a series of cyberattacks in July and August targeting organisations in Uzbekistan and Russia, according to a report by RBC citing cybersecurity firm Bi.zone.

The attackers employed phishing emails containing RAR-format archives that exploited known vulnerabilities in the popular file compression software WinRAR to install malicious software (malware) on victim systems.

«The attackers had two objectives: not only to exploit WinRAR vulnerabilities to install malware, but also to increase the likelihood that their phishing emails would bypass email security filters, as such attachments are common in business...

Between January and July 2025, solar panels installed on homes, businesses and infrastructure sites across Uzbekistan generated 875 mln kWh of electricity, according to the Ministry of Energy.

As of August 1, the total installed capacity of these solar systems had reached 1,600 MW, with panels fitted at around 130,000 locations nationwide.

Among them, 19,900 public sector facilities, including schools and hospitals, accounted for 377 MW. A further 71,800 residential properties contributed over 361 MW, while rooftop systems on 2,100 apartment buildings added another 27 MW.

The private sector has played a leading role in scaling up small-scale solar...

Uzbekistan is set to begin construction of new international airports in Tashkent, Bukhara and Urgench starting in 2026, according to the national fiscal strategy published by the Ministry of Economy and Finance for the period 2026 to 2028.

The government plans to launch all three airport projects next year, aiming to significantly expand aviation infrastructure across key cities.

In addition to expanding airport capacity, the authorities intend to increase domestic air traffic by at least 50% and bring in no fewer than six international airlines to foster greater competition in the aviation market.

The new Bukhara airport project, estimated...

With expanded government support for the logistics sector, Uzbek national carriers have, for the first time, begun transporting large-scale and heavy equipment directly from manufacturers in the People’s Republic of China using road transport.

At present, modules weighing over 270 tonnes each are being delivered from China to Surkhandarya region on specially equipped transport vehicles. This high-capacity equipment is intended for a new thermal power plant currently under construction in the region.

The transport is being carried out along a carefully planned route, based on special permits issued for the operation.

Kursiv also reports that China National Gold...

U.S. President Donald J. Trump announced that he will host a historic peace summit at the White House on Friday, bringing together the President of Azerbaijan, Ilham Aliyev, and the Prime Minister of Armenia, Nikol Pashinyan, for a formal signing ceremony aimed at ending years of conflict between the two nations.

In a post on his social media platform, Trump called the summit a «Historic Peace Summit,» declaring that both leaders have agreed to meet in Washington to finalize a peace agreement. The conflict between Armenia and Azerbaijan has spanned decades, with periodic outbreaks of violence, most notably over...

In the first six months of 2025, TBC Uzbekistan reported a net profit of 254 billion soums — a 30% increase compared to the same period last year, according to the bank’s financial report obtained by Kursiv Uzbekistan.

Operating income doubled year-on-year to reach 1.5 trillion soums. The bank’s loan portfolio grew by 113%, reaching 11.4 trillion soums. TBC Uzbekistan now holds a 5.1% share of the retail lending market in the country.

TBC Uzbekistan’s Key Financials for H1 2025
Deposits rose to 6.2 trillion soums — up 93% year-on-year. The number of Salom debit cards issued by the bank reached...