News

Beeline Uzbekistan has announced the winners of the UPiDEA innovation contest. Seven of the best teams from over 100 applications submitted from across Uzbekistan made it to the shortlist. University students and postgraduates received valuable prizes such as Apple MacBook Pro, MacBook Air, and iPad Pro devices.

More than 100 young participants submitted their promising business ideas and projects for the contest. The teams developed and proposed digital solutions in areas such as EdTech, sports, tourism, fintech, ecology, and digital services. The finalists were selected by experts from Beeline Uzbekistan, and the projects were evaluated based on the following criteria...

Uzbekistan has adopted a law regulating the procedures for liquidating banks, the Ministry of Justice announced, citing the official document.

A bank may initiate voluntary closure if it is solvent or poses no risk of insolvency. Such liquidation requires approval from the Central Bank.

In cases of compulsory closure, the Central Bank’s board makes the decision. In this scenario, the bank’s assets and liabilities are either transferred to another financial institution or sold off.

«Compulsory liquidation may proceed either through judicial or extrajudicial channels,» the Ministry of Justice stated.

Earlier, Kursiv Uzbekistan reported

American strikes on Iran’s underground nuclear facilities have caused limited damage, Reuters reports, citing preliminary US intelligence assessments.

The attack is believed to have set back Iran’s nuclear capabilities by several months. This intelligence assessment contrasts with statements by President Donald Trump, who claimed the strikes had destroyed Iran’s nuclear programme.

Trump’s administration also informed the UN Security Council that the US had weakened Tehran’s nuclear infrastructure.

Earlier, US Vice President J.D. Vance raised concerns about the fate of 400 kg of uranium that Iran may have moved shortly before the strike. The New York Post noted that this material could potentially be used...

The World Bank has approved a $150 mln concessional loan to support the development of small-scale hydropower in Uzbekistan, the Bank’s press service confirmed. The funding aims to attract private investment into the sector.

The government plans to build small hydropower plants with a total capacity of up to 150 MW by 2030. Authorities have identified 270 sites along irrigation canals for construction. These stations are expected to generate over 500,000 GWh of electricity annually.

«This new project, funded by the World Bank and implemented by Uzbekistan’s Ministry of Energy from 2025 to...

Uzbekistan and South Korea have agreed to develop a unified training platform for aviation personnel across Asia and the CIS.

Incheon International Airport Corporation and Incheon Airport Aviation Academy will launch joint training programmes with Uzbekistan Airports, according to a statement from the Uzbek airport operator’s press service.

The parties signed a memorandum of understanding to introduce collaborative educational initiatives. These include joint training courses, faculty exchange programmes, and events aligned with international aviation education standards.

South Korean representatives visited the Airports Training Centre in Tashkent and confirmed that its infrastructure meets the requirements for international programmes.

All three parties – Incheon International Airport Corporation...

Uzbekistan President Shavkat Mirziyoyev and Mongolian President Ukhnaagiin Khürelsükh have agreed to open direct air links between the capitals of their countries by the end of this year. The decision came during talks held at the State Palace of Mongolia.

The two leaders also agreed to speed up the adoption of agreements on preferential trade and investment protection. They pledged to deepen cooperation in the mining and agricultural sectors.

Discussions covered prospects for bilateral cooperation in economy, trade, education, healthcare, and more. In recent years, trade turnover has increased significantly, alongside the number of joint ventures. The first cooperative projects are already...

From January to May 2025, Uzbekistan produced 488.2 thousand tonnes of motor gasoline, according to the State Statistics Committee. This marks a 14.3% year-on-year decline in fuel production.

Oil production in the country fell by 11.2% over the same period, amounting to 270.8 thousand tonnes.

In contrast, coal production showed strong growth, rising 26.3% compared to the first five months of the previous year. In total, 2.4 mln tonnes of coal were extracted from January through May 2025.

Kursiv Uzbekistan also reports on the growth in electricity production during the first five months of the year.

A video circulating online claims to show Iran transporting a massive missile amid escalating tensions with Israel. However, fact-checking has revealed that the footage is misleading and outdated — and has no connection to military equipment.

According to journalist Rujuta Thete from The Quint, the video first appeared online in 2018. It actually shows the transport of industrial equipment — specifically, a slurry bunker destined for a gas processing plant in Uzbekistan.

The video had previously been shared in the context of infrastructure development in Central Asia.

In 2025, the clip resurfaced on social media, stripped of its...

Following official talks in Ulaanbaatar, President of Uzbekistan Shavkat Mirziyoyev and President of Mongolia Ukhnaagiin Khurelsukh signed a Joint Declaration establishing a comprehensive partnership between the two countries.

In addition, more than ten bilateral agreements were signed in the presence of both heads of state, covering a wide range of areas — from agriculture and environmental protection to education, healthcare, and sports.

Among the documents were agreements on cooperation in plant quarantine and protection, mining, higher education, environmental conservation, and crime prevention.

The two sides also agreed to implement joint programs between government ministries, approving action plans for...

The Government of Kyrgyzstan has issued a decree temporarily banning coal exports by road transport outside the country.

The restriction will be in effect for six months and applies to coal classified under codes 2701 and 2702 of the EAEU’s Commodity Nomenclature for Foreign Economic Activities (HS codes).

Two border checkpoints are exempt from the restriction:

Kursiv Uzbekistan reports that Uzbekistan increased its coal imports from Kyrgyzstan by 52.4%.

At the IV Tashkent International Investment Forum, Director of the Agency for State Asset Management (ASAM) Akmalkhon Ortikov announced that the government shares in Uzbekinvest and Agrosugurta will soon be offered at international auctions.

«We also plan to sell ten thermal power plants (TPPs) out of 29 state-owned energy assets. KPMG has been appointed to oversee the privatization. The company has begun developing a sales strategy and will present its final recommendations in the coming days, after which the privatization process will be launched,» Ortikov said during his presentation.

He added that hotels, real estate...

The Organisation of Islamic Cooperation (OIC) has elected Mirzatillo Tillabayev, First Deputy Director of Uzbekistan’s National Centre for Human Rights, as a member of its Independent Permanent Human Rights Commission for the 2025–2028 term. OIC member states supported his candidacy during a vote at the OIC Summit in Istanbul.

At the summit, participants adopted the Istanbul Declaration and discussed key OIC priorities, including the protection of Palestinian rights, the fight against Islamophobia, and the promotion of women’s and children’s rights.

Leaders also adopted the Jeddah Declaration, the first in the Islamic world to outline principles on artificial intelligence regulation and human rights protection.

Uzbekistan generated 35.5 bn kWh of electricity from January to May 2025, according to the National Statistics Committee. This marks a year-on-year increase of 4.2%.

Over the same period, the country earned $95.6 mln from electricity exports — up by 72.6% compared to the previous year. Electricity imports amounted to $65.3 mln.

Earlier, Kursiv Uzbekistan reported on recent changes in the country’s natural gas production.

Uzbekistan’s GDP is projected to grow 6.5% by the end of 2025. In 2026–2027, the country’s economy is expected to expand by an average of 6.4% annually, according to analysts from the Eurasian Development Bank (EDB).

Earlier, the EDB published its first macroeconomic forecast on Uzbekistan. The key drivers of GDP growth, according to the bank, will be the expansion of exports of metals, textiles, and agricultural products, along with large-scale public investment in transport and utility infrastructure.

Additional support for the economy will come from an increase in remittances and credit availability, helping to offset weaker external...

Israel has launched a strike on Tehran despite the recently declared ceasefire, Reuters reports. US President Donald Trump is currently in talks with Israeli Prime Minister Benjamin Netanyahu.

On Tuesday, June 24, Israel accused Iran of launching multiple missiles shortly after the truce began. Tehran denied any involvement.

Earlier, the White House stated that Israel had no intention of attacking Iran. Trump also claimed that Iran would never be able to rebuild its nuclear facilities.

«All aircraft will turn around and head home, giving a friendly ‘wing wave’ to Iran. No one will be harmed...

The exchange rate for the U.S. dollar in Uzbekistan rose to 12,456.25 soums on Tuesday, June 24, according to the Central Bank of Uzbekistan. The currency appreciated by 45.26 soums over the day.

On the same day, the dollar was bought at 12,350–12,415 soums and sold at 12,450–12,515 soums.

The Russian ruble was set at 158 soums, while the euro reached 14,461 soums.

Ruble purchase rates ranged from 90 to 150 soums, and selling rates from 159 to 190 soums. The euro was bought at 12,800–14,115 soums and sold at 14,250–15,500 soums.

Kursiv Uzbekistan also reports that Global...

From January to May 2025, Uzbekistan produced 18.3 bn cubic meters (bcm) of natural gas — a 2.9% year-on-year decline, according to the National Statistics Committee.

During the same period, the country exported $288 mln worth of natural gas, marking a 62.7% increase compared to the previous year. Gas imports totaled $285.5 mln.

Gas condensate production fell by 8.7% to 482,100 tonnes, while crude oil output dropped from 305,000 tonnes to 207,800 tonnes.

Kursiv Uzbekistan also reports that Gazprom had quadrupled gas exports to Uzbekistan over the past year.

Global oil prices fell sharply on Tuesday after Israel confirmed a U.S.-brokered ceasefire with Iran, easing fears of further geopolitical escalation in the Gulf region, as reported by the Gguardian.

President Donald Trump announced the agreement on Truth Social, writing: «It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE.»

Israel later issued a statement confirming its acceptance of the truce “in full coordination with President Trump.”

The news sent Brent crude — the global benchmark — tumbling...

Israeli authorities have accused Iran of breaking the ceasefire agreement, The Times of Israel reports.

Defence Minister Israel Katz said he instructed the military to launch heavy strikes on targets in central Tehran.

According to The Times of Israel, Iran fired two missiles towards Israeli territory. Tehran has not yet commented on the incident.

Earlier, former US President Donald Trump announced that Israel and Iran had agreed to a ceasefire. Prime Minister Benjamin Netanyahu’s office later confirmed its support for Washington’s decision to mediate the truce.

Before that, Iranian Foreign Minister Abbas Araghchi stated there was no ceasefire in...

Uzbekistan has reduced the average customs processing time for cargo from three hours to just 30 minutes after introducing a digital system, according to the State Customs Committee, as reported by TASS.

The digital system, launched in early 2024, features three platforms: one for customs officers, one for warehouse staff, and one for cargo owners or transport companies.

Users can upload cargo data in advance. Once the goods arrive at the warehouse, staff verify the information and enter it into the system. A risk management algorithm then decides whether the cargo needs inspection by a customs officer.

The system...

Japanese investors plan to invest $15 mln in the construction of the Shogun City hotel complex in Uzbekistan’s Fergana region, the regional administration has announced.

The project includes not only a hotel, but also restaurants and a traditional Japanese garden. During a recent meeting with the Hokim of Fergana, Khayrullo Bozorov, the investors discussed project details and timelines. The Japanese side is expected to finalise the design documentation soon and begin construction.

Shogun City will be part of the Eco City residential area, announced back in 2022.

Earlier, Kursiv Uzbekistan reported that AME International would build a children’s medical centre in...

Uzbekistan manufactured 58.9 thousand Cobalt cars between January and May 2025, marking a 2.4% increase compared to the same period last year, according to the National Statistics Committee.

By early June, domestic car manufacturers had produced 38.7 thousand Damas vehicles, reflecting a year-on-year growth of 24.1%.

Onix production rose by 8.8%, reaching 16.2 thousand units. Kia output climbed to 10 thousand vehicles, up by 35.6% year-on-year.

In the first five months of 2025, the country also produced 18 thousand Tracker models, 2.9 thousand Haval vehicles, and 5.4 thousand BYD cars.

As of June 2025, Uzbekistan’s total passenger car production...

Uzbekistan’s trade turnover with China totalled $5.4 bn from January to May 2025, up by 8% compared to the same period last year, according to the National Statistics Committee. China remains the country’s largest trading partner.

Russia ranks second with $4.8bn in trade volume, followed by Kazakhstan at $1.7bn. Trade with Turkey stands at $1bn, and with South Korea it reached $709.8 mln.

As of early June 2025, Uzbekistan’s exports amounted to $14.8bn, while imports reached $16.4bn. Gold exports rose significantly, growing from $4.2 bn to $6.5bn year-on-year. Exports of natural and synthetic gas also increased to $288mln.

Uzbekistan’s...

Beelab, a fintech company and developer of the Beepul payment service, and a digital bank, Anorbank, have signed a memorandum of understanding (MoU) establishing a strategic partnership. This collaboration expands Beelab’s pool of strategic partners in the banking sector and strengthens its position as a technology platform open to cooperation with leading financial institutions in Uzbekistan.

The partnership aims to integrate technological infrastructures and develop digital financial products that will be accessible to millions of users nationwide. Under the agreement, both parties will begin joint efforts to integrate Anorbank’s banking services into the Beepul ecosystem.

Planned initiatives include the issuance...