News

The Asian Development Bank (ADB) has announced plans to increase funding for its food security programme in the Asia-Pacific region to $40 bn by 2030, according to a statement from the bank.

The programme, running from 2022 to 2030, will enter its second phase. Governments across the region will receive $18 bn, while the bank will invest an additional $7.5 bn into the private sector. The initiative will cover all stages of the food production chain — from cultivation and processing to distribution and consumption.

The programme aims to create new jobs, reduce environmental impacts, and develop sustainable supply...

The number of electric vehicle charging stations in Uzbekistan reached 1,400 as of May 1, 2025, according to the Ministry of Energy. This marks a 2.5-fold increase compared to the previous year.

Around 92,000 electric vehicle drivers now use charging stations across the country.

Tashkent city and Tashkent region remain the leaders, hosting 820 and 154 stations respectively. Together, they account for 70% of all charging infrastructure in Uzbekistan.

Namangan, Samarkand and Jizzakh regions also rank among the top five. Meanwhile, Syrdarya region and Karakalpakstan recorded the lowest numbers, with only 13 and 14 charging stations respectively.

Syrdarya...

Chevrolet Cobalt ranked as Kazakhstan’s most-produced vehicle in the first quarter of 2025. Manufacturers assembled 6,559 units, according to the Kazakhstan Automobile Business Association.

The Cobalt was followed by Hyundai Tucson with 5,152 units, Kia Sportage with 2,774, Hyundai Mufasa with 2,134, and Hyundai Santa Fe with 1,472.

In brand rankings, Hyundai led with 12,806 vehicles produced. Chevrolet followed with 7,657, then Kia (5,609), Jetour (2,437), and Jac (1,696).

Kostanay and Almaty remained the country’s major production centres. Plants in Kostanay produced 18,000 vehicles, while Almaty assembled around 13,000. Other regions contributed lower volumes.

Anar Makashova, Head of...

Warren Buffett has confirmed plans to step down as Chief Executive Officer of Berkshire Hathaway before the end of 2025. Speaking at the company’s annual shareholder meeting, he announced that Gregory Abel, Vice Chairman of Berkshire Hathaway and head of Berkshire Hathaway Energy, will succeed him.

Abel’s appointment was anticipated. Buffett had identified him as his likely successor as early as 2021. Addressing the transition, Buffett stated that while he will continue as an adviser, Abel will take full responsibility for the company’s key management decisions.

Buffett also reaffirmed his long-term commitment to the company. He said he will...

Uzbekistan’s junior and youth weightlifting teams have brought home four medals from the World Weightlifting Championships held in Peru, according to the National Olympic Committee of Uzbekistan.

The Uzbek athletes claimed two silver and two bronze medals across various weight categories and disciplines.

Rising star Marjona Abdumutalova earned two silver medals and one bronze, competing across two disciplines in the combined total.

Her teammate, Hikmatillo Khaydarov, added another bronze medal for Uzbekistan in the snatch event.

Kursiv Uzbekistan also reports that Uzbek track and field athletes secured second place overall at the Asian U20 Athletics Championships.

India has officially banned the import and transit of goods from Pakistan, according to a directive from the country’s Directorate General of Foreign Trade.

Indian authorities cited national security and public policy interests as the primary reasons for the measure.

The move comes just days after Pakistan imposed a similar ban on April 24, halting all trade with India in the wake of escalating diplomatic tensions.

The deterioration in India-Pakistan relations followed a terrorist attack on April 22 in the Indian town of Pahalgam, where militants from the group Kashmir Resistance killed 26 tourists.

India has publicly blamed Pakistan...

Manchester City head coach Pep Guardiola has addressed why Abdukodir Khusanov, the young footballer from Uzbekistan, has yet to make an appearance in recent matches, according to the club’s press service.

Guardiola reassured fans that Khusanov’s opportunity will come, stating that his absence from the pitch is not a reflection of his long-term potential.

«One of the reasons was that Khusanov had already received a yellow card, and I didn’t want to take any risks,» said Guardiola.

The 20-year-old defender has now missed eight consecutive matches for Manchester City. On May 2, City narrowly defeated Wolverhampton 1–0, with Khusanov once...

Uzbekistan’s state-owned energy company Uzbekneftegaz has successfully issued $850 mln in Eurobonds on the London Stock Exchange, as reported by news agency Dunyo.

The deal was finalised during a visit by an Uzbek delegation to the United Kingdom led by Deputy Minister of Economy Khurshid Mustafayev.

This marks the largest single-tranche bond issuance in Uzbekistan’s history, signalling strong investor interest and growing international confidence in the country’s energy sector.

The transaction was carried out in partnership with J.P. Morgan, Standard Chartered Bank, and Uzsanoatqurilishbank.

Kursiv Uzbekistan also reports that Navoi Mining and Metallurgical Company (NMMC) is also planning...

As of the beginning of the 2024–2025 academic year, Uzbekistan’s universities are home to 12,500 foreign students, according to the latest data from the National Statistics Committee.

More than half of these students are from India, with 6,500 Indian nationals enrolled in higher education institutions across the country.

Other top countries of origin include:

These five countries account for the majority of Uzbekistan’s international student population, highlighting the nation’s growing appeal as a regional education hub.

Kursiv Uzbekistan also reports that a...

Paid street parking has been introduced in Tashkent on a trial basis, according to officials at the city administration who spoke with Kursiv Uzbekistan.

A total of 86 parking zones have been launched across the capital, each marked with a designated «P» sign. The parking network is divided into four tariff zones, with hourly rates ranging from 5,000 to 12,000 Uzbek soums.

Drivers who fail to pay for their parking spot will face fines, city officials warned.

Payments can be made through the Poytaxt Parking mobile app or via Paynet terminals. The system was developed by Streetpark Systems, the company...

The Central Bank of Uzbekistan plans to introduce regulation of the installment payment market, including the increasingly popular Buy Now, Pay Later (BNPL) services. The announcement was made on May 2 during a conference hosted by the International Monetary Fund, Kursiv Uzbekistan reports.

The regulator is currently working with international financial institutions to conduct regular stress testing aimed at identifying potential risks in unregulated segments of the financial market. Particular focus is being placed on systems that are gaining popularity and may significantly affect household debt levels.

The BNPL sector was highlighted as a key area of concern. In response...

In 2024, Central Asia’s economy outpaced expectations, with regional growth reaching 5.4%, compared to 5% in 2023. Domestic demand remained robust, steady remittance inflows and infrastructure investment contributed significantly. Both oil exporters and importers saw upgrades of around one percentage point from initial projections. Despite this, the IMF forecasts growth will slow to 4.9% in 2025, fall further to 4.3% in 2026 and ease to about 3.8% over the medium term.

Several trends explain the projected deceleration:

Uzbekistan may need to increase its retirement age in the future to ease pressure on the national budget and address demographic challenges, according to Koba Gvenetadze, head of the IMF office in Uzbekistan.

Currently, men retire at 60 and women at 50 — levels below international averages.

“Pension reform should also be considered,” Gvenetadze said during recent talks. “The authorities are already working on this. We are providing technical assistance as well.”

He pointed out that pension costs are part of state spending and that a growing population makes reform increasingly urgent.

Countries in Central Asia risk facing slower GDP growth due to new US tariffs and rising global trade tensions, according to Thanos Arvanitis, Deputy Director of the IMF’s Middle East and Central Asia Department. He made the statement during an economic forum in Tashkent.

What has changed

Tariffs paused, but baseline increase applies

In early April, the United States announced higher tariffs on imports. These included rates between 20% and 40% for countries such as Kazakhstan. However, on April 9, Washington paused these higher tariffs for most countries in the region. A baseline tariff of 10% remains...

Assistant to the President of Uzbekistan, Saida Mirziyoyeva, has joined the jury of the Sheikh Zayed Award for Human Fraternity. She announced the news via her Telegram channel.

Established in 2019, the award recognises individuals and organisations for their significant contributions to humanity. Notable laureates include the late Pope Francis and the United Nations Secretary-General António Guterres.

The UN Secretary-General allocated the $500,000 Sheikh Zayed Award to support refugees.

During her visit, Mirziyoyeva also held talks with Mohamed Abdel-Salam, Secretary-General of the Muslim Council of Elders. She thanked the organisation for its efforts in promoting spiritual and Islamic...

The International Monetary Fund (IMF) has raised its forecast for Uzbekistan’s GDP growth in 2025 to 5.9%, according to the IMF’s latest Regional Economic Outlook obtained by Kursiv.

The revised forecast reflects stronger-than-expected performance in 2024, when Uzbekistan’s economy grew by 6.4%, exceeding the IMF’s October 2024 forecast by 0.9 percentage points.

Among the key drivers of growth for Uzbekistan and other Central Asian economies, the IMF highlights robust domestic demand and large-scale infrastructure investment. In Uzbekistan’s case, the main factor behind rising demand was the increase in real household incomes, rather than consumer lending.

Uzbekistan, Kyrgyzstan and Tajikistan have...

The Public Relations & Strategic Communications Committee of EUROUZ, chaired by Beeline Uzbekistan, hosted an expert seminar on advancing corporate and financial communication practices in Uzbekistan. Held in a hybrid format, the event brought together nearly 70 participants and high-level speakers from leading companies, international institutions, the financial sector, and EUROUZ member organizations.

The seminar provided a practical platform for exchanging insights on investor relations, corporate transparency, and reputation management. Communication professionals shared best practices on how companies build trust through consistent messaging around reforms, business performance, and long-term goals.

The agenda featured two expert panels: Panel 1 focused on...

Several of Uzbekistan’s largest banks recorded weaker performance and stability in the first quarter of 2025, according to the latest index from the Centre for Economic Research and Reforms (CERR), obtained by Kursiv.

The financial intermediation indicator, which compares loans to deposits and liabilities, showed significant movements in the rankings. Turon Bank fell eight places, while Asaka Bank and Business Development Bank each dropped two positions.

Ipoteka Bank remained in the bottom twenty of the ranking, largely due to poor asset quality and a high proportion of non-performing loans. Microcreditbank and Business Development Bank also saw sharp declines, losing six...

President of Uzbekistan Shavkat Mirziyoyev has officially opened the Arda Khiva tourism complex during his visit to the Khorezm region, according to the presidential press service.

The complex features hotels, attractions and craft houses. Nearby, trees have been planted around Govuk Lake to enhance the surrounding landscape.

Arda Khiva also includes cinemas, concert halls, restaurants and a market. The complex is expected to welcome up to 3 mln visitors annually.

In 2023, Khorezm exported tourism services worth $380 mn. Over the past seven years, the number of foreign tourists visiting the region has increased thirtyfold.

Consumer prices in Uzbekistan increased by 0.7% in April 2025, according to data from the State Statistics Committee. Annual inflation slowed to 10.1%.

Goods prices rose by 0.6% during the month and stood 5.2% higher than in April 2024. Food prices increased by 0.8% in April and grew by 4% over the year.

Service prices recorded stronger growth rising by 1% in April. On an annual basis service inflation reached 26.1% largely driven by higher utility tariffs.

The highest annual inflation rates were registered in Tashkent Bukhara and Kashkadarya regions.

In April 2025 prices for information and communication services...

Central Asian countries spent $1.9 bn on defence in 2024, according to the Stockholm International Peace Research Institute.

However the report excluded Uzbekistan and Turkmenistan from the official figures.

Overall regional military spending fell by 5.5% compared to the previous year. Over the past nine years Central Asia has reduced defence expenditure by 25%.

Despite lower spending Global Firepower ranks Kazakhstan and Uzbekistan as the region’s strongest armed forces placing them 57th and 58th globally. Turkmenistan follows in 77th place while Kyrgyzstan and Tajikistan rank 105th and 108th respectively.

Uzbekistan plans to fully modernise Urgench International Airport in Khorezm region between 2025 and 2027. President Shavkat Mirziyoyev reviewed the project during his visit to the region on May 1.

In August 2024 authorities announced an open tender which attracted eight companies from France South Korea Turkey Qatar and other countries. South Korean firm Incheon International Airport Corporation won the tender.

The project includes the construction of a new runway passenger and cargo terminals along with the installation of advanced equipment meeting ICAO international standards.

The upgraded airport will accommodate large aircraft such as the Boeing 747 and...

British carmaker Aston Martin has restricted vehicle shipments to the United States after US President Donald Trump imposed a 25% tariff, the Financial Times reports.

The company does not plan to increase imports to the US and will rely on existing stocks held by American dealers. According to the Financial Times, Aston Martin has enough vehicles in the country to meet demand until June.

In the first quarter of this year, the company’s revenue fell by 13% reaching GBP 234 mln (USD 310.8 mln).

The Financial Times also noted that American buyers account for 30% of Aston Martin’s annual...

Uzbekistan has officially established diplomatic relations with Côte d’Ivoire, according to the Dunyo news agency.

Representatives of both countries signed a joint communiqué on April 29 in New York. Côte d’Ivoire is now the 159th country with which Tashkent has formal diplomatic ties.

Côte d’Ivoire, once a French colony, gained independence in early August 1960. The West African nation exports hydrocarbons, bauxite, diamonds and agricultural products.

In 2023, Côte d’Ivoire’s economy was valued at USD 202.6 bn with a GDP per capita exceeding USD 2,700. As of July 2024, the country’s population stood at more than 31.5 mln.