News

The majority of highly liquid stocks on the Republican Stock Exchange (RSE) «Toshkent» showed mixed performance from July 28 to August 1, as the Uzbekistan Composite Index (UCI) slipped by 0.7%.

Several stocks posted modest gains, while others saw sharp declines.

Uzbektelecom shares led the gains with a 3.82% increase, followed by Uzbek Republican Commodity Exchange (UzRCE) at +3.32% and Ipak Yuli Bank at +3.11%.

However, Kokand Mechanical Plant shares recorded the steepest decline of the week, falling 12.71%. Biokimyo JSC dropped 11.10%, while Uzbekneftegaz lost 6.57%.

Common shares of Ipoteka Bank and preferred shares of Hamkorbank remained unchanged during...

Tesla has awarded CEO Elon Musk 96 mln shares valued at approximately $29 bn, according to a recent filing, in a move aimed at retaining the billionaire amid ongoing leadership and compensation tensions, as reported by The Telegraph.

The interim 2025 grant comes as the company continues to battle shareholder unrest over a previously voided $56 bn pay package from 2018, which a Delaware court ruled was «excessive.» Musk is currently appealing that decision.

Musk, already Tesla’s largest shareholder with a 12.7% stake, has publicly stated he would be uncomfortable leading the company without at least 25% voting control...

Uzbekistan will attract loans and private investments to finance the construction of infrastructure for the Sea Breeze Uzbekistan resort near Lake Charvak, according to a new government resolution.

The Ministry of Investment, Industry and Trade (MIIT) has been instructed to secure funding from international financial institutions and private investors by January 1, 2026.

The planned works include the construction of a bridge, access roads, and utility infrastructure for the site. The resort will be developed on leased plots of land, and developers are required to pay an infrastructure fee of $50 per square meter of built-up area. These funds will...

As of January 1, 2025, Uzbekistan had 9.6 mln young people aged 14 to 30, accounting for 25.7% of the country’s total population, according to new data from the State Statistics Committee (UzStat).

The Samarkand region recorded the highest number of youth, with 1.1 mln individuals in this age group. It was followed by the Fergana region with 1 mln, and Kashkadarya with 969,200.

Other regions with significant youth populations include Andijan (870,800) and Namangan (790,100).

In the capital city Tashkent, the youth population reached 729,900 as of the beginning of the year.

Kursiv Uzbekistan also reports that...

Uzbekistan has shown interest in importing cotton from the United States, according to the Ministry of Investment, Industry and Trade (MIIT).

Discussions on potential purchases took place in late July between Uzbek officials and representatives of the U.S. Department of Agriculture and the Cotton Council International. The proposed deliveries would be facilitated through Washington’s GSM-102 credit guarantee program, which supports agricultural exports.

The two sides also explored the launch of a “Made from U.S. Cotton” initiative to promote products made using American raw cotton.

In 2024, the U.S. harvested 14.4 mln bales of cotton, marking a 19% year-on-year increase...

A new pilot project launched in Tashkent will allow residents of the capital to track the real-time location of emergency ambulance teams, Kursiv Uzbekistan learned from Yandex Uzbekistan’s press service.

Currently, the service is available via a web browser and only for emergency calls. After contacting a dispatcher, the caller receives an SMS with a link to an interactive map displaying the live location of the assigned ambulance.

In the future, the project is expected to scale up, with plans to integrate ambulance tracking directly into the Yandex Go mobile app.

According to the project’s developers, this feature will help...

Uzbekistan’s Competition Committee has given the green light to a major acquisition involving the cloud-based commerce platform Billz.

The British-headquartered TBC Bank Group PLC, part of the wider TBC Bank conglomerate, has been authorised to acquire a 46.67% share in Shoppe Group, the company behind Billz.

Billz provides businesses with digital tools to manage inventory, track sales, and offer online services through cloud technology.

While the regulator approved the transaction, it also imposed certain conditions to ensure fair competition. Specifically, Billz must not restrict access to its services for rivals of TBC Bank or its affiliated payment service Payme...

The Asian Development Bank (ADB) has issued its first-ever bonds denominated in Uzbek soums, raising 312 bn UZS (equivalent to $24.7 mln), the institution’s press service reported.

The bonds were placed at par with a coupon rate of 14.5% per annum and a three-year maturity. The issuance was arranged by Merrill Lynch International, a subsidiary of U.S. financial giant Bank of America.

According to the ADB, proceeds from this gender bond will be used to support women-owned businesses outside the capital city of Tashkent.

In addition, ADB also successfully placed 30 bn Mongolian tugrik-denominated bonds (approximately $8.4 mln). Standard...

Seventy-two foreign IT companies paid a total of 78.2 bn UZS (approximately $6.1 mln) in taxes to the state budget of Uzbekistan during the first half of 2025, according to the country’s Tax Committee.

This figure marks a 42% increase compared to the same period last year. The total value of digital services provided by these foreign companies in Uzbekistan reached 656.8 bn UZS.

Among the major international tech firms, Meta, owner of Facebook, Instagram, and WhatsApp, topped the list with 22.6 billion UZS in tax payments from January to July.

Apple came in second, contributing 22.1 bon UZS...

Russia emerged as the biggest buyer of construction materials from Uzbekistan in the first half of 2025, according to Sputnik. Between January and June, Russian importers purchased materials worth $107 mln, making them the top trading partner in this segment.

Other major buyers included Kazakhstan, which imported $94.7 mln worth of products, and Kyrgyzstan, with imports totalling $64.4 mln. Uzbekistan also shipped construction materials to Tajikistan ($53.7 mln), Azerbaijan ($9.7 mln) and Turkmenistan ($9.3 mln).

In total, Uzbekistan exported $428.4 mln worth of construction materials during the six-month period. More broadly, Uzbekistan’s total exports reached $16.9 bn in the...

A rare Labubu figure was sold on eBay for an astonishing $10,500, setting a new resale record for the quirky, «ugly-cute» collectible toy line that has taken the internet by storm. The sought-after grey-brown character, dressed in full Vans-branded streetwear, including trainers, a hoodie, and a two-tone cap embroidered with «The Monsters», was originally launched in 2023 as part of a Pop Mart x Vans blind box collaboration.

With an original retail price of just $85, the toy’s resale value has skyrocketed more than 100-fold, confirming its place at the top of the collectible market.

Limited Editions Fuel...

Officials from both Afghanistan and Uzbekistan, along with private sector representatives, have expressed optimism about significantly expanding bilateral trade and investment. Uzbek and Afghan entrepreneurs signed 45 agreements worth a total of $20 mln.

Nuruddin Azizi, Afghanistan’s Acting Minister of Industry and Commerce, said the country is actively working to increase its trade volume with Uzbekistan to $3 bn, stressing the need for a balanced approach to imports and exports.

«We must raise the ceiling of our trade and reinforce our commercial commitments. We should focus on expanding exports and not remain only importers,» Azizi...

From October 15, 2025, Malaysian budget airline AirAsia X will begin operating direct flights between Tashkent and Kuala Lumpur, creating a new travel corridor between Central and Southeast Asia. The announcement was made by the portal Travel and Tour World.

One-way tickets on the new route start from 2.7 mln UZS (approximately $199) for bookings made by August 3, with the fare including 7 kg of cabin baggage.

The service will run three times weekly, with flights departing on Mondays, Wednesdays and Fridays.

According to the schedule, planes will leave Tashkent at 19:30, arriving in Kuala Lumpur at...

OPEC and its allies have agreed in principle to a substantial increase in oil production for September, aiming to reclaim global market share by fully restoring a previously halted tranche of supply. A delegate from the group confirmed that the decision will be formally ratified during an upcoming video conference on August 3, Bloomberg reports.

The proposed increase of 548,000 barrels per day will mark the completion of a phased reversal of 2.2 mln barrels per day, a voluntary output cut made by eight OPEC+ members in 2023. The agreement also includes an additional quota adjustment for the...

Uzbekistan’s Ministry of Foreign Affairs has published an updated list of countries that Uzbek passport holders can visit without a visa or through simplified entry procedures. The list includes 40 countries with visa-free access and an additional 42 countries offering streamlined entry, either through visas on arrival or electronic visas.

Visa-Free Travel Now Available in 40 Countries

Citizens of Uzbekistan may enter the following destinations without requiring a visa:

Uzbekistan’s Cabinet of Ministers has officially approved the development of the Sea Breeze Uzbekistan resort, a major tourism project to be built on the shores of the Charvak Reservoir in the Tashkent region. The project, led by Agalarov Development, is now valued at $5 bn, significantly lower than the previously estimated $7–10 bn. Details of the resolution have been published on the government’s legal portal Lex.uz.

Spanning over 570 hectares, the resort area has been allocated to the developer on a 25-year lease. With a reduced rental coefficient applied, the company will pay 17 bn UZS ($1.3 mln) over...

Dry conditions are expected across Uzbekistan today with no rainfall predicted during daylight hours on August 4. Winds will range from 7 to 12 metres per second and daytime temperatures are set to rise between 33 and 38°C.

In the capital, Tashkent, the weather will remain clear and dry with light winds of 5 to 10 m/s. The temperature is forecast to reach 35 to 37°C.

In mountainous regions, brief rain showers and isolated thunderstorms may occur in some areas. Winds will generally blow at 7 to 12 m/s but may strengthen locally to 13 to 16 m/s. Daytime...

Russian authorities have cancelled a tsunami alert for the Kamchatka Peninsula following a 7.0 magnitude earthquake near the Kuril Islands, which struck on August 3. The event coincided with the first confirmed eruption of the Krasheninnikov Volcano in over 600 years, adding to concerns in a region already shaken by intense seismic activity.

Although officials had initially cautioned residents to stay clear of the coast, they later confirmed that only minor wave activity was expected. The Pacific Tsunami Warning System and the United States Geological Survey both measured the tremor at magnitude 7.0, and neither agency issued a tsunami...

Several banks have updated their rates for exchanging foreign currencies into UZS as of August 4. 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...

Ursula von der Leyen is under growing political pressure after signing a controversial US-EU trade accord with Donald Trump at Turnberry, Scotland, on July 27. Critics across Europe are calling the agreement a «capitulation» that favours the US while compromising key EU industries and future sovereignty, as reported by The Guardian.

The agreement, announced with optimism at Trump’s golf resort, is drawing comparisons to the EU’s weakest negotiation moments.

«This is asymmetry set in stone,» said Bernd Lange, chair of the European Parliament’s trade committee, branding the deal «a misery.»

Analysts point to three...

Sarah Jessica Parker has shared an emotional farewell to her iconic role as Carrie Bradshaw, following HBO’s announcement that season 3 of And Just Like That will be the final instillment of the Sex and the City universe.

In an Instagram post, Parker, 60, said:

«Carrie Bradshaw has dominated my professional heartbeat for 27 years… I think I have loved her most of all.»

The actress expressed deep gratitude for the fans and collaborators who’ve followed the character’s evolution from a columnist in Manhattan to a woman navigating her fifties. She praised showrunner Michael Patrick...

Bitcoin may be on the brink of a significant downturn, with trader Tony Severino warning that the leading cryptocurrency could plunge to £47,000 ($60,000) if it fails to set a new all-time high soon.

Severino’s outlook contrasts with bullish market sentiment earlier this year, when Bitcoin soared past £78,000 ($100,000) and briefly touched £96,000 ($123,000). However, technical indicators and declining momentum now suggest the rally could be overextended.

Market analysts cited by MarketWatch highlighted a crucial support zone around £57,500 ($73,745). A breakdown below this level could lead to further declines toward £44,000–£46,000 ($55,000–$57,000) — with Severino outlining an even...

The global festival of traditional culture and music, Rukh Sanat, officially opened on August 1 in the city of Cholpon-Ata, Kyrgyzstan, according to the Cabinet of Ministers’ press service.

Prime Minister Akylbek Japarov expressed confidence that the event would become a vital creative platform for strengthening cultural ties between nations.

«I warmly welcome you to Kyrgyzstan — the land where the monumental epic Manas was born, where hundreds of folk epics, dastans and poems continue to be performed. Here, the art of improvisational singing lives on, and melodies once performed on the world’s grandest stages...

At the Esports World Cup Chess tournament in Riyadh, Uzbekistan’s grandmaster Nodirbek Abdusattorov concluded his run in the quarterfinals.

In this stage, Abdusattorov faced French player Alireza Firouzja. The Uzbek grandmaster missed a key opportunity in the first game due to time pressure and made a critical error in the second. As a result, Firouzja advanced to the semifinals, while Abdusattorov finished in the 5th to 8th place bracket, earning a prize of $90,000.

Another Uzbek player, Javokhir Sindarov, also took part in the prestigious event but was eliminated during the group stage after two losses.

The total...