News

Uzbekistan is preparing to launch its first London listing with the national investment fund, UzNIF, paving the way for other state-backed companies, Bloomberg reports. The fund could begin share sales in London and Tashkent as early as the first quarter of next year.

Preparations for the IPO of Navoi Mining & Metallurgical Company, one of the world’s largest gold producers, have slowed. Officials are concerned a London listing could reduce dividends that contribute significantly to the state budget. Navoi’s final IPO timing will depend on President Shavkat Mirziyoyev’s decision.

UzNIF, managed by Franklin Templeton, recently restructured its portfolio to...

Airbus Helicopters has signed a contract with Uztechtrade, Uzbekistan’s state importer of military and dual-use equipment, to deliver an undisclosed number of Flexrotor uncrewed systems.

Olivier Michalon, Airbus Helicopters Executive Vice President for Global Business, said the deal marks Uzbekistan as the first customer for the Flexrotor in Central Asia.

«Uzbekistan is a long-standing and valued partner for Airbus Helicopters, and we are proud that Uztechtrade has chosen the cutting-edge Flexrotor to advance its uncrewed capabilities,» said Michalon. “This selection underscores Uzbekistan’s commitment to adopting innovative technology and strengthens our cooperation across crewed and uncrewed...

New York City Mayor Eric Adams, who suspended his re-election campaign and leaves office on January 1, is visiting Uzbekistan and will return on November 23. Adams, who recently met Israeli Prime Minister Benjamin Netanyahu, will visit Tashkent and Samarkand.

According to media reports, Adams plans to meet government, business, tech, sports and religious leaders to discuss partnerships that could create jobs and drive innovation in New York. He will also visit religious sites important to the Muslim community.

Adams’ tenure has seen achievements in housing and pandemic recovery but was overshadowed by ethics concerns and federal investigations. Last...

Exxon Mobil has joined Chevron in exploring options to acquire parts of Russian oil company Lukoil’s international assets, sources familiar with the matter said. Exxon is looking at Lukoil’s holdings in Kazakhstan, including stakes in the Karachaganak and Tengiz fields, where both US companies and Lukoil are partners. Chevron is also evaluating the same assets.

Exxon may also consider bidding for Lukoil’s West Qurna 2 field in Iraq, the Russian firm’s most valuable asset. Exxon previously operated the neighbouring West Qurna 1 project before exiting last year.

The list of potential buyers has expanded since the US Treasury...

Microsoft and Nvidia are investing in AI startup Anthropic under a new partnership that includes a $30 bn commitment by Anthropic to use Microsoft’s cloud services. Nvidia will contribute up to $10 bn and Microsoft up to $5 bn, with both companies participating in Anthropic’s next funding round.

The deal strengthens ties between major AI players and reflects growing demand for computing power as firms compete to develop systems rivaling human intelligence. Microsoft CEO Satya Nadella said both companies will increasingly be customers of each other, with Anthropic using Microsoft infrastructure while Microsoft uses Anthropic models.

The move also...

The Republican-controlled US Congress has voted almost unanimously to release Justice Department records on the late convicted sex offender Jeffrey Epstein, a measure President Donald Trump had opposed for months before abruptly changing his position.

The House passed the bill 427-1, and the Republican-majority Senate quickly approved it. Legislation could reach Trump for his signature as soon as November 17, with a senior White House official confirming he plans to sign it.

The Epstein case has been politically sensitive for Trump, who has faced scrutiny for his past association with the financier and for amplifying conspiracy theories about him...

Xiaomi Corporation has announced its unaudited Q3 2025 results, reporting total revenue of $15.83 bn, up 22.3% year-on-year, marking the fourth consecutive quarter above $14 bn. Adjusted net profit reached $1.58 bn, up 80.9% and hitting a record high. Year-to-date revenue stands at $47.66 bn, with adjusted net profit of $4.59 bn, already surpassing 2024’s full-year total.

«Human × Car × Home» strategy

Guided by its «Human × Car × Home» strategy, all business segments showed strong growth. The smart EV, AI and other new initiatives segment achieved positive quarterly income for the first time, with revenue of...

Uzbekistan and the Asian Development Bank (ADB) are preparing new projects worth more than $3 bn, following a meeting between President Shavkat Mirziyoyev and ADB President Masato Kando on November 18.

The current portfolio of joint projects already exceeds $15 bn, with the ADB remaining Uzbekistan’s largest regional partner. The two sides also discussed preparations for the bank’s annual Board of Governors meeting, scheduled to take place in Samarkand in May 2026.

President Mirziyoyev proposed signing a new programme of expanded strategic partnership at the event. It will cover projects in infrastructure development, training for engineers and technicians, education...

Uzbekistan Airways has reached an agreement with Chinese leasing company CALC to acquire four new Airbus A321neo aircraft. Letters of intent have been signed, with deliveries expected between 2027 and 2028.

The aircraft will feature a two-class layout and the next-generation Airspace Premium cabin, equipped with a modern entertainment system and high-speed Wi-Fi. Uzbekistan Airways has been working with CALC for several years, and this deal forms part of its long-term fleet renewal programme for 2026–2028.

Under the plan, the airline will receive a total of six A321neo jets from CALC, bringing the total number of this model in the...

American rapper Nicki Minaj has publicly thanked the US President for drawing attention to the worsening security situation facing Christian communities in Nigeria. Her remarks were shared in a statement released by the White House.

«I would like to thank @POTUS for prioritising this issue and for his leadership on the global stage in calling for urgent action to defend Christians in Nigeria,» the post caption said.

Minaj, whose full name is Onika Tanya Maraj-Petty, is an American rapper, singer and songwriter of Trinidadian origin. She became globally known in the early 2010s thanks...

Cambridge Dictionary has selected «parasocial» as its word of the year for 2025, reflecting how one-sided emotional ties with celebrities and online personalities have entered mainstream culture. The term refers to a sense of connection a person feels towards a well-known figure they have never met.

Psychologists say these imagined relationships have reshaped ideas of fame and fandom. When Taylor Swift and American footballer Travis Kelce announced their engagement, many fans felt personally involved despite never meeting either of them. The same pattern now appears with influencers and AI chatbots, with some people ranking these imagined bonds above...

The Third Roundtable on Public-Private Partnerships, held at the Hyatt Regency in Tashkent, focused on attracting private capital through PPPs and discussed achievements and challenges in implementing projects in Uzbekistan.

Speaking on the first panel, Tatiana Proskuryakova, Senior Adviser at the World Bank Group, emphasised that the government of Uzbekistan is firmly in the driving seat of the PPP agenda. She highlighted that development partners, including the World Bank, provide support across all stages of the PPP lifecycle from analytic work and policy reform to technical assistance, capacity building and transaction structuring.

«PPPs are a tool...

US oil company Chevron is exploring options to acquire overseas assets of sanctioned Russian oil firm Lukoil, according to sources familiar with the matter. Last week the US Treasury cleared potential buyers to discuss Lukoil’s international holdings.

Chevron would join private equity firm Carlyle and other companies in the competition for the Russian company’s portfolio, which is valued at roughly $20 bn. Sources said Chevron is focusing on areas where it overlaps with Lukoil rather than attempting to buy the entire international portfolio. Chevron has not publicly commented on the reports.

Lukoil produces about 2% of the world’s oil...

Every business would feel the impact if an artificial intelligence bubble were to burst, Alphabet chief Sundar Pichai has told the BBC.

He called the current surge in AI investment an «extraordinary moment» but warned of growing «irrationality» as valuations climb and spending accelerates. Asked whether Google would withstand a collapse, he said the company could manage volatility yet «no firm is immune, including us».

Alphabet’s value has doubled in seven months to $3.5 trln as it races against OpenAI and develops advanced AI chips to challenge Nvidia, now worth $5 trln. Analysts have questioned whether the $1.4 trln...

The UN Security Council on November 17 adopted a US-drafted resolution supporting President Donald Trump’s proposal to end the conflict in Gaza and permitting the creation of an international stabilisation force for the territory.

Israel and Hamas agreed last month to the first stage of Trump’s 20-point plan, which includes a ceasefire and a hostage-release arrangement. The UN resolution is viewed as a key step in giving legitimacy to a transitional governance body and assuring countries that may contribute troops. According to the text, member states may take part in the proposed Board of Peace, chaired by Trump, which...

Bitcoin fell under $90,000 on Tuesday for the first time in seven months, signalling a sharp drop in risk appetite across global markets. The cryptocurrency has wiped out its 2025 gains and now sits almost 30% below its October peak of more than $126,000. It was down 2% in the Asia afternoon at $89,953 after breaking through key support around $98,000 last week.

Analysts said uncertainty around future US interest rate cuts and growing nervousness in broader markets, which have stumbled after a lengthy rally, are weighing heavily on crypto.

Joshua Chu, co-chair of the Hong Kong Web3 Association, said...

Dillon Danis has been permanently banned from attending UFC events following a violent altercation at UFC 322 in Madison Square Garden, The Sun reports.

The 32-year-old MMA fighter was involved in a tense confrontation with Islam Makhachev’s team cageside, which escalated into a mass brawl lasting nearly five minutes. Clips shared online showed Danis exchanging blows with several members of Makhachev’s camp, including UFC fighter Magomed Zaynukov.

Others caught in the melee included Jack Della Maddalena’s wife, Michelle, and his mother, Sonya. Police and security intervened to separate the parties and escorted Danis and members of Makhachev’s team backstage.

Manchester United reportedly opted not to sign Chelsea midfielder Romeo Lavia during the summer transfer window.

Chelsea had offered the 21-year-old Belgian as part of the deal that saw Alejandro Garnacho move to Stamford Bridge. United, whose midfield has long been considered in need of reinforcements, assessed Lavia but ultimately passed on the move.

According to reports, concerns over Lavia’s history of injuries were a major factor in United’s decision. Since joining Chelsea from Southampton for £58 mln in 2023, Lavia has made only 29 appearances, missing 88 games and rarely completing a full 90 minutes.

Chelsea were reportedly...

The US Department of Homeland Security (DHS) has confirmed that Immigration and Customs Enforcement (ICE) arrested 31-year-old Akhror Bozorov, an Uzbek national wanted in Uzbekistan on terrorism-related charges.

Authorities in Uzbekistan issued an arrest warrant for Bozorov in 2022, alleging he was involved with a terrorist organisation, distributing propaganda online, and recruiting others to join extremist activities.

ICE took Bozorov into custody in Kansas on November 9, where he had been working as a commercial truck driver. He had received a commercial driver’s licence in Pennsylvania and was granted work authorisation in the United States in January 2024.

Bozorov...

Oscar-winning actor Sir Ben Kingsley will host and narrate a series of ten short documentaries for the Center of Islamic Civilization in Tashkent, Uzbekistan. Established by President Shavkat Mirziyoyev, the centre is one of the region’s largest cultural and educational initiatives.

In the ‘Whisper of Wisdom’ series, Kingsley highlights Uzbekistan as the homeland of great minds such as Mirzo Ulugbek, Al-Khwarizmi, Amir Timur, Avicenna and Alisher Navoi, showcasing their contributions to science, mathematics, literature and philosophy.

«We reveal the history of those who shaped Islamic civilisation,» Kingsley says. «Uzbekistan preserves the legacy of great scientists...

President Donald Trump has announced that US embassies will prioritise visa appointments for travellers holding tickets to the 2026 World Cup.

Under the FIFA Prioritised Appointment Scheduling System (PASS), ticket-holders experiencing long wait times can request a prioritised interview through FIFA, Trump said at the White House on Monday.

Secretary of State Marco Rubio emphasised that holding a World Cup ticket does not automatically grant a tourist visa. However, foreign nationals with tickets may be able to secure an embassy or consulate interview within six to eight weeks of applying.

«Your ticket is not a...

Pakistan’s state-owned National Bank of Pakistan (NBP) will launch a branch in Uzbekistan as part of a wider effort to strengthen economic cooperation between the two nations. The decision was announced during a meeting between Haroon Akhtar Khan, the special assistant to the prime minister on industries and production, and Uzbekistan’s ambassador to Pakistan, Alisher Takhtaev.

During the talks, the State Bank of Pakistan confirmed that banking and financial integration issues would be addressed swiftly. Both sides agreed to aim for bilateral trade of $2 bn, giving particular attention to textiles, pharmaceuticals, surgical instruments, mining, and information technology. The...

Allied Biofuels FE LLC and India’s Praj Industries Ltd have signed an MoU to establish Central Asia’s biggest ethanol production complex in Uzbekistan’s Khorezm region. The plant, built on Praj’s technology platform, will produce 890 tonnes of 95% ethanol per day, equal to 293,700 tonnes a year, and will capture biogenic CO₂ generated through the first-generation process.

Ethanol from this 1G stage will supply Allied Biofuels’ output of 160,400 tonnes of Sustainable Aviation Fuel (SAF) a year along with 5,040 tonnes of Green Diesel. The refinery will also blend biogenic CO₂ with syngas from gasification and green hydrogen...

Uzbekistan and Turkmenistan have agreed to raise their bilateral trade turnover to $2 bn by expanding the range of goods on offer and making fuller use of free trade arrangements. The agreement was reached during talks between Uzbekistan’s president Shavkat Mirziyoyev and Turkmenistan’s president Serdar Berdymukhamedov.

The two leaders also discussed the launch of the Shavat–Dashoguz cross-border trade zone and agreed to extend this model to other areas, including the Alat–Farab corridor. Both presidents welcomed strong progress in the energy sector and said cooperation would now move towards larger joint ventures, including shared development of natural resources.

They also...