News

Oil market indicators continue to suggest the physical market remains tight. Photo: Shutterstock

Oil prices saw moderate gains on Thursday, with Brent crude rising 0.5% to $68.83 per barrel and U.S. West Texas Intermediate (WTI) up 0.9% to $66.99, as reported at midday GMT.

The uptick comes despite signs of easing global trade tensions, as analysts point to persistently low inventories and renewed geopolitical risks in the Middle East. Drone attacks in Iraq’s Kurdish region have disrupted oil production by as much as 150,000 barrels per day, further tightening supply.

According to PVM Oil Associates, market attention is shifting back to regional conflicts...

The European Union has delayed imposing sanctions on Israel over its conduct in Gaza, prompting sharply contrasting reactions from Israeli and Palestinian officials, as reports Euronews.

Israeli Foreign Minister Gideon Sa’ar called the EU’s decision a «diplomatic feat,» praising European allies for rejecting «obsessive attempts» to penalize Israel. In contrast, Palestinian representative Varsen Aghabekian-Shahin described the move as «shocking and disappointing,» citing a recent EU report identifying 38 violations of Palestinian rights.

Despite evidence of humanitarian violations under the EU-Israel Association Agreement, the EU’s top diplomat Kaja Kallas said that sanctions remain “on the table” should Israel fail to...

Microsoft is fast approaching a $4 trillion market valuation, narrowing the gap with NVIDIA, which recently became the first company to surpass the milestone. With its current market cap at $3.76 trillion, Microsoft is well-positioned to challenge the chipmaker’s lead, as reported by Windows Central.

Under CEO Satya Nadella, Microsoft has capitalised on the AI boom through early investments in OpenAI and a strong focus on Azure cloud services. Its strategic cloud partnerships have paid off, even powering Apple’s recent AI features. Microsoft stock has risen over 15% in 2025 alone, outpacing the S&P 500.

The company’s robust portfolio...

Defence Secretary John Healey has issued a formal apology in Parliament for a massive 2022 data leak involving Afghans who sought relocation to the UK due to ties with British force, as reported by The Independent. The breach, caused by a Ministry of Defence official, exposed sensitive information and triggered a secretive evacuation of 16,000 people, with around 8,000 still awaiting transfer.

Though Healey revealed certain details in the Commons, the media remains under a stringent High Court injunction preventing the publication of key facts. A superinjunction on the incident was lifted after two years, but a second gag...

After lifting the Club World Cup with a dominant win over PSG, Chelsea are shifting focus to their summer clear-out. According to The Athletic’s Simon Johnson, the club has listed seven players for sale as they seek to trim the wage bill and reshape the squad, as reported by Chelsea club.

The list includes Raheem Sterling, Ben Chilwell, Joao Felix, Renato Veiga, Armando Broja, Lesley Ugochukwu, and Axel Disasi. Notably, Christopher Nkunku and Nicolas Jackson are not on the market, though offers for them would be considered.

Sterling and Chilwell, both high earners, remain top priorities for offloading but...

Britain and Germany are set to co-develop a new long-range missile system dubbed the «super-Taurus,» with a reported range of 2,000 kilometres, according to German media. The advanced weapon is expected to be developed within the next decade and builds on Germany’s existing Taurus missiles, which have a 500km range.

The project is part of a broader UK-Germany defence partnership, including a landmark treaty signed Thursday in London between Chancellor Friedrich Merz and UK Prime Minister Sir Keir Starmer. The treaty features mutual defence commitments, expanded arms cooperation, and joint action against cross-channel migration.

This move reinforces a growing trilateral...

Russia is grappling with a serious demographic challenge that could have far-reaching consequences for its economy. With a rapidly aging population, shrinking workforce, and record-low birth rates, experts warn that the crisis could soon overshadow even the impact of Western sanctions, as reported by Daily Express.

According to Russian Labour Minister Anton Kotyakov, the country needs to bring 10.9 mln people into the workforce by 2030 to replace the 10.1 mln expected to retire by then. Speaking at a high-level cabinet meeting chaired by President Vladimir Putin, Kotyakov warned of a looming labour shortfall if productivity does not...

For centuries, humanity has pondered one of its most profound questions: how did we get here? A new scientific project based in the UK may be bringing us closer than ever to an answer, by recreating the universe itself, as reported by Indy100

In a groundbreaking effort to understand how the cosmos developed after the Big Bang, a team of scientists is running a series of ultra-advanced computer simulations designed to mirror the universe’s evolution. The project, called FLAMINGO (short for Full-hydro Large-scale structure simulations with All-sky Mapping for the Interpretation of Next Generation Observations), is based at the...

The Institute of Nuclear Physics of the Academy of Sciences of the Republic of Uzbekistan (INP) has officially joined Rosatom’s international research programme based on the multi-purpose fourth-generation research reactor (MBIR), currently under construction in Russia. Project is part of the country’s national initiative for technological leadership under the New Nuclear and Energy Technologies programme, UzAtom reports.

The agreement was signed on 16 July 2025 by Ilham Sadikov, Director of the Institute of Nuclear Physics, and Vasily Konstantinov, CEO of the consortium leader MCI MBIR.

Gateway to advanced nuclear research

By joining the international consortium, the Uzbek institute...

Microsoft created Windows, Word, Xbox, the world’s first smartwatches, and more. This is the story of how Bill Gates and Paul Allen built a company in a garage, and within 15 years, their software ran on most of the world’s computers.

As you read on, you will learn:

— Where it all started?

— One magazine article that changed everything

— How programming became their breakthrough

— Windows empire: What started Microsoft

— What is MS-DOS?

— Allen steps away, gates builds Windows

— What has Microsoft invented over the years?

...

Uzbek footballer Eldor Shomurodov has made his first appearance for Turkish club Istanbul Başakşehir in a friendly match against Austrian side Reichenau, Championat.Asia reports.

The match ended in a 4–1 victory for the Turkish team, with Omer Beyaz scoring twice. Shomurodov spent around 60 minutes on the pitch.

The Uzbek player joined Istanbul Başakşehir on loan from AS Roma in July this year. During his time in Italy, he made 85 appearances for Roma and scored 13 goals.

As of July 17, Transfermarkt estimates Shomurodov’s market value at €5 mln.

Kursiv also reports that Malaysia will not participate...

The US President Donald Trump announced on July 16 that Coca-Cola has agreed to sweeten its US-produced beverages with cane sugar instead of high-fructose corn syrup, following his discussions with the company, Reuters reports.

«I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so. I’d like to thank all of those in authority at Coca-Cola,» Trump posted on his social media platform, Truth Social.

A Coca-Cola spokesperson responded by saying that the company, based in Atlanta, would be sharing updates...

In Q2 2025, Kazakhstan saw a significant decline in the number of active companies with Russian founders. Between April 1 and July 1, the figure fell by 728 to 17,600 enterprises, according to data from the Bureau of National Statistics of Kazakhstan.

This marks the fifth consecutive quarter of decline, with the downward trend only accelerating. The previous drop was already the largest in over six years of observations. Following a sharp increase in 2022 driven by geopolitical tensions, the number of Russian-linked businesses now appears to be returning to pre-crisis levels. Since April 1, 2024, the total has...

The international sustainability initiative Better Cotton has identified promising prospects for Uzbekistan’s cotton sector as reforms reshape the once-controversial industry.

For years, Uzbekistan’s cotton was excluded from many Western markets due to widespread state-imposed forced and child labour. However, following sweeping structural changes and the end of state quotas, the country is gradually rebuilding its reputation as a responsible cotton producer. According to the World Bank, state involvement in cotton production has significantly decreased, bringing forced labour practices to near elimination.

Private clusters take over production

Today, cotton in Uzbekistan is cultivated by privately-owned clusters that operate integrated...

A meeting was held with representatives of the international investment group ROX Group (Vietnam), which is implementing several major infrastructure projects in Kyrgyzstan. The news was reported by the presidential envoy’s office in Issyk-Kul Region.

The main topic of discussion was the construction of a 1.9 GW solar power plant in the village of Toru-Aygyr, a project being carried out by ROX Group. Completion is scheduled for 2027, and once operational, the facility is expected to create over 500 jobs.

During the meeting, the parties discussed the progress of the project, future cooperation plans and the need for swift...

Uzbekistan’s Foreign Minister, Bakhtiyor Saidov, met his Chinese counterpart Wang Yi in Tianjin this week. According to a joint statement, the two officials discussed strategies to strengthen mutually beneficial economic ties, enhance regional connectivity, foster stability and advance shared objectives through multilateral cooperation.

Wang Yi — also a member of the Political Bureau of China’s Communist Party — reaffirmed China’s commitment to deepening its relations with Uzbekistan. He highlighted plans to implement agreements reached by Presidents Xi Jinping and Shavkat Mirziyoyev, and voiced Beijing’s intention to elevate bilateral ties to higher quality and higher level.

A pivotal topic of discussion was the...

As of July 1, 2025, Uzbekistan has registered 115,100 product names in its national catalogue of digitally labelled goods, according to the State Tax Committee.

Digital Product Labelling in Uzbekistan

Since its phased rollout in 2021, the digital labelling system has covered a growing number of goods. The goal is to improve product traceability, combat counterfeits, and strengthen tax compliance.

Currently, 1,000 domestic producers and 3,400 importers are active participants. Tashkent city, along with Tashkent and Samarkand regions, lead in the number of registered producers.

Which Industries Are Covered

By July, the system included:

Other...

As Southeast Asian economies continue to grow, Japan is shifting its focus to South and Central Asia in a bid to secure foreign workers for its labour-strapped industries, Nikkei Asia reports. With countries like Vietnam and China supplying fewer workers due to rising domestic opportunities, Japan now sees potential in nations such as India, Sri Lanka and Uzbekistan.

To facilitate this, Japan’s Ministry of Health, Labour and Welfare is preparing to commission a private-sector body to engage directly with recruitment agencies in South and Central Asia. The aim is to assess Japan’s labour requirements and identify barriers to worker...

China Southern began operating direct flights from Guangzhou to Tashkent on June 30, 2025. The carrier also offers services from Beijing and Urumqi to both Tashkent and Samarkand.

China Eastern followed suit by launching Xi’an to Tashkent flights on July 16, operating three times a week.

Visa-Free Travel Boosts Demand

The expansion of air routes follows the mutual visa-free agreement introduced on June 1, 2025. Citizens of both countries can now visit each other for up to 30 days without a visa, significantly boosting tourism and business travel.

Airlines have responded quickly to the growing demand, adapting their schedules and capacity to accommodate rising passenger flows.

Trade Between China and Uzbekistan Hits...

The total trading volume on the Tashkent Republican Stock Exchange (RSE) reached UZS 12 trillion in the first half of 2025. This marks a 17-fold increase compared to the same period in 2024, according to the Exchange’s official statement.

Despite the sharp rise in turnover, the number of transactions dropped by 21.7% year-on-year, totalling 214,900 deals. Of these, 181,900 were executed with securities listed on the Exchange, while the rest took place on the organised over-the-counter (OTC) market.

Strong Growth in the Equities Market

Equity trading volume surged 14 times, reaching UZS 5.3 trillion. The total market capitalisation rose by 0.15% to UZS 242.8 trillion. As of the end of...

Banks have updated the rates for buying and selling currencies on July 17. 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 better buy rates to exchange USD, EUR, GBP, CHF, JPY, or KZT into soums:

Financial institutions may change the value of currencies throughout the day...

FC Barcelona is reportedly close to signing a four-year sponsorship deal with the government of the Democratic Republic of the Congo (DRC), according to Mundo Deportivo. The contract is valued at €44 million — or €11 mln annually.

Under the agreement, the men’s team’s training kits will feature the slogan «RDC, cœur de l’Afrique» («DRC — Heart of Africa») on the back.

The sponsorship income will help Barcelona comply with La Liga’s financial fair play regulations.

Despite this high-profile deal, the DRC remains one of the poorest nations in the world. According to the World Bank, the country’s nominal...

The Israeli military has carried out an airstrike targeting the General Staff headquarters of the Syrian army in the capital city of Damascus, according to reports by Tasnim and Al Jazeera.

Footage of the strike was captured live during a Syrian state TV broadcast, media sources say. The Israel Defense Forces (IDF) had earlier confirmed an airstrike on the entrance to the military headquarters building.

Reports also indicate that a nearby government district, close to the presidential palace, was hit. According to Syria’s Ministry of Health, at least 13 people were injured in the attack.

The Football Association of Malaysia has announced that the national team will not participate in the CAFA Nations Cup 2025, scheduled to take place in Uzbekistan and Tajikistan. The decision was made due to logistical challenges and player availability issues.

Initially, Malaysia had planned to join the tournament. However, the event dates, August 29 to September 8 — fall outside FIFA’s official calendar, which means international clubs are not obligated to release their players.

«We have players competing in Spain, Argentina, Colombia, and Japan. Flying them to Tajikistan on time and expecting peak performance isn’t realistic,» said head coach...