News

According to reports from Sport Business journalists, the inaugural cybersport Olympics may be postponed to 2027.

Initially scheduled in Riyadh in November 2025, potential participants have expressed concerns due to the lack of specific competition dates. The event’s official name remains undisclosed, and the International Olympic Committee (IOC) has yet to approve the rules for athlete selection.

This event was intended to be the world’s premier cybersports competition. Saudi Arabia secured the rights to host the event until 2037, with Prince Abdulaziz bin Turki Al Saud highlighting the kingdom’s aspirations to become the global hub for cybersports.

It has...

Lithuania plans to employ 200 Uzbeks, training them to become drivers and car mechanics, according to the Uzbek Migration Agency.

The agency has signed a memorandum with the Confederation of Industrialists of Lithuania to facilitate the employment of Uzbek citizens. To support this initiative, training centers will be established in Uzbekistan in collaboration with Lithuanian companies Girteka and TVG Groupe.

Founded in 1996, Girteka Group specializes in cargo transportation across Europe and operates a fleet of 4,000 trucks.

Established in 1992, TVG Groupe provides food and various cargo delivery services.

Previously, Kursiv Uzbekistan reported that Girteka Group intends...

Uzbekistan and Azerbaijan are discussing the possibility of allowing citizens to enter using ID cards instead of passports, according to the Dunyo news agency.

This issue was addressed during an online meeting between representatives of the two countries. Participants noted that permitting entry with ID cards could help strengthen trade and economic ties between Azerbaijan and Uzbekistan.

It’s worth mentioning that citizens of Uzbekistan can visit 32 countries without a visa, while 45 countries issue visas on arrival. Entry permits are required for 121 countries.

Kursiv Uzbekistan also reports that Uzbeks can travel to China without a...

As of September 2024, Uzbekistan’s pharmaceutical market reached 20.3 trillion soums, reflecting an annual growth rate of 13%, according to data from the pharmaceutical company STADA.

Notably, 98% of drug sales in the country occur in retail, with prescription drugs making up 70% of those sales.

As reported by Proxima Research, in September of the previous year, the leading companies in the Uzbek pharmaceutical market included KRKA, with a 3.5% market share, Stada, with 3.1%, and Yuria-Pharm, with 3%. The residents of Tashkent spent the most on medicines, accounting for 31.4% of all drug sales in the country.

The...

The deputies of the Legislative Chamber of the Oliy Majlis have approved a bill to ratify a treaty between Uzbekistan and Kyrgyzstan concerning the transfer of convicts, the Parliament’s press service reported.

The treaty specifies the procedures for transferring convicts, the conditions under which punishments are carried out, financial arrangements, the language used for communication and the mechanisms for making any necessary amendments.

Both countries’ Prosecutor General’s Offices will be responsible for implementing the agreement.

Lawmakers believe that the ratified treaty will allow convicts to be closer to their families and facilitate their social rehabilitation in their home country.

Uzpromstroybank has launched a venture capital company called SQB Ventures to support startups in “mahallah”, according to the bank’s press service.

In addition to financing business projects in these communities, SQB Ventures will offer expert guidance and organisational support. The company aims to help startups develop effective strategies, establish robust management systems and successfully enter the market.

Uzpromstroybank emphasises that supporting entrepreneurship is a key priority for the bank. The venture company’s activities are expected to create new jobs in the mahallas and enhance the income of the local population.

In December 2024, President Shavkat Mirziyoyev announced that all...

The service and personnel company Baltic, based in Lithuania, plans to establish training centers in Uzbekistan to train welders, according to the Migration Agency of Uzbekistan.

This initiative was agreed upon during a meeting between the Lithuanian Business Confederation representatives and Uzbek diplomats.

Additionally, the BIURO agency will assist Uzbeks in finding employment opportunities in Lithuania. The legal organisation Vyriausiasis Juriskonsultas will hire Uzbek citizens through a «dual education» system.

In late November last year, Uzbek Prime Minister Abdulla Aripov announced that by 2025, the country aims to send over 200,000 Uzbeks to work in developed nations.

As the...

On January 31, the price of a five-gram gold bar reached a new maximum of 5.98 mln soums, according to data from the regulator. This record price lasted for eight days.

Current prices for gold bars are as follows: a ten-gram bar costs 11.97 mln soums, a twenty-gram bar is priced at 23.94 mln soums, a fifty-gram bar is 59.85 mln soums and a one-hundred-gram bar costs 119.7 mln soums.

The rising prices of precious metals in the country are following global trends. The cost of a troy ounce of gold on international markets recently hit a record...

As of January 30, the number of Uzbek nationals who died after consuming counterfeit alcohol in Turkey has reached 23, according to a statement from the Uzbek Consulate General in Istanbul.

The diplomatic mission emphasised that, in collaboration with the Ministry of Foreign Affairs of Uzbekistan and the Migration Agency, they provided consular and legal assistance to repatriate the bodies of the deceased.

Following the consumption of counterfeit alcohol, 90 people sought medical attention in Istanbul hospitals, all of whom showed signs of methanol poisoning. Nearly all cases of poisoning were reported in areas where Uzbek and Turkmen...

In 2024, Uzbekistan’s largest mining companies and the Ministry of Mining and Geology attracted $3.58 bn in investments, according to a statement from the ministry’s press service.

The leader in attracting investments was the Almalyk Mining and Metallurgical Complex (AMMC), which secured over $1.94 bn for its investment programme last year. The company is currently implementing a major expansion project at the Yoshlik mine, with an estimated cost of around $4.6 bn.

In second place is the Navoi Mining and Metallurgical Complex (NMMC), which attracted $789.6 mn in investments in 2024. As a result, the company increased...

Freedom plans to launch a digital bank in Tajikistan this spring, as told by Timur Turlov, the head of Freedom Holding Corp.

Turlov noted that the country’s banking sector is relatively small, with estimated assets of $2 bn and non-cash payments making up only 20% of total transactions.

“We already have an excellent team there!” he stated.

In October 2024, Kursiv Uzbekistan reported that Freedom had entered the Tajik market after receiving a license from the local regulator.

Shell, one of the world’s largest oil and gas companies, reported lower adjusted earnings in the fourth quarter of 2024 than analysts had predicted, according to the company’s press release.

Shell’s data shows that adjusted earnings for the last three months of 2024 amounted to $3.7 bn, down from approximately $6 bn in the previous quarter. Analysts had forecasted $4.1 bn.

The company attributed the profit decline to optimisation efforts, lower profitability, and an increase in decommissioned wells.

Shell also announced plans for a $3.5 bn share buyback, which it intends to complete before the next quarterly earnings release.

Alibaba Cloud (Singapore) registered as a VAT payer in Uzbekistan, according to a statement from the State Tax Committee of Uzbekistan.

The cloud computing company registered through the VAT office on tax.uz on January 28.

The Tax Committee also noted that 65 foreign internet companies providing electronic services to individuals are already registered in Uzbekistan.

The Asia-Invest Bank, owned by the government of Uzbekistan, responded to reports suggesting it could be disconnected from the SWIFT network, stating that such information is not official.

«The bank is operating as usual,» the financial institution confirmed on its official website.

As reported by Kursiv Uzbekistan, an investigation by the System project revealed that Asia-Invest Bank might be included in the 16th package of European Union sanctions targeting Russia.

Founded in 1996 through an agreement between Russia and Uzbekistan, Asia-Invest Bank’s major shareholder is the National Bank for Foreign Economic Activity, which is established by the Cabinet of Ministers of Uzbekistan.

The United States may impose 100% tariffs on BRICS nations if they attempt to replace the US dollar in trade, President Donald Trump warns.

«The idea that BRICS countries will move away from the dollar while we sit back and watch is no longer relevant. We will demand that these seemingly hostile nations abandon their plans to create a new BRICS currency or support any alternative that could challenge the mighty US dollar,» Trump wrote on Truth Social.

Should BRICS refuse to comply, the president vowed to introduce 100% tariffs.

«They [BRICS nations] can then say goodbye to trade within our great American system...

Uzbekistan aims to launch short-term sericulture courses for women, with the involvement of foreign experts, according to a government decree.

Women from across Uzbekistan will be trained in silk moth cocoon cultivation and provided assistance with employment opportunities. They will have the chance to participate in seasonal work and be prioritised for permanent job placements.

The courses will be taught by specialists from China, Vietnam, Japan, and other countries with advanced silk production technologies. Women employed in the sector will be included in a unified labour monitoring system.

From April 1, 2025, Uzbekistan will impose a 2% duty on imported medicines, according to a decree by President Shavkat Mirziyoyev.

The duty will apply to antibiotics, painkillers, anti-inflammatory and cardiological drugs, as well as other medicines.

However, the introduction of duties will not affect immunological serums or diagnostic reagents. In addition, a zero rate will remain for medicinal mixtures not sold in retail packaging.

The duties on imported medicines are being introduced to support the domestic pharmaceutical industry. During a meeting with industry representatives, the President set the task of localising pharmaceutical production.

In 2024, six mn people used the services of airlines for domestic flights within Uzbekistan. This marks an increase of 14.9% compared to 2023, as reported by the State Statistics Agency.

Compared to the figures from 2022, passenger traffic in the country grew by 47%.

It is worth noting that from January to October 2024, Uzbekistan increased its volume of export air cargo by 216%, while imports of cargo decreased by 15%.

By 2027, Uzbekistan aims to achieve complete self-sufficiency in potato production, a goal set by President Shavkat Mirziyoyev during a meeting on supporting farmers. Currently, the country relies on imports to meet its potato demand.

Potatoes are grown on 290,000 hectares of agricultural land in Uzbekistan, but their yield remains average. The President has instructed the development of high-yield potato varieties adapted to the local climate. Three mn tubers of these varieties will be distributed among the population and agricultural producers.

This year, the Uzbekistan Agricultural Support Fund will allocate UZS 400 bn for the development of potato farming.

Uzbekistan exported products worth $795 mn to France, almost doubling its annual growth. This was announced at the Uzbek-French Business Forum, as reported by a correspondent from Kursiv Uzbekistan.

During this period, France reduced its exports to Uzbekistan by 43.5%, amounting to $336.1 million. The mutual trade turnover increased by 13.7%, reaching $1.13 bn.

In the list of Uzbekistan’s largest trade partners, France ranked ninth.

Over the past seven years, trade between the two countries has grown nearly fivefold. In 2017, it was valued at $252 mn.

Currently, 50 companies with French capital are operating in Uzbekistan. Of these, 28 are...

In the fourth quarter of 2024, Meta Platforms posted a net profit of $20.8 bn, which is 1.5 times higher than the same period in 2023, according to Interfax.

During this time, the company increased its revenue from $40.1 bn to $48.3 bn. Both figures exceeded market forecasts.

Additionally, the number of active users across Meta’s apps, including Facebook, Instagram, Messenger, and WhatsApp, surpassed 3.3 bn.

Following the report release, the company’s shares rose by 2.16%, reaching $676.5 at 4:22 PM Tashkent time.

Meta forecasts that revenue for the first quarter of this year will range from $39.5 bn...

In 2025, around one mn labour migrants may leave Russia, as stated by Andrei Kladov, the director of the Migrants Service platform, in an interview with journalists.

According to the expert, the determining factor will be the salary level. Currently, foreign workers are seeking to earn around $1,500 per month. If the income levels in the Russian market fail to meet their expectations, migrants will move to other countries.

Additionally, the attractiveness of working in Russia is reduced by stricter migration laws, deportations, and the introduction of new restrictions for foreigners. According to Kladov, over 80,000 migrants were deported...

World figure skating champions Yevgenia Shishkova and Vadim Naumov may have been on board.

Russian nationals were on board the American Airlines plane that crashed in Washington, Kremlin spokesperson Dmitry Peskov told Izvestia.

Peskov expressed condolences to the families and loved ones of the victims but did not disclose the exact number of Russian citizens who lost their lives.

According to RIA Novosti, 14 figure skaters were among the passengers. World figure skating champions Yevgenia Shishkova and Vadim Naumov may have also been on board.

The U.S. Figure Skating Association confirmed that athletes and their family members were among...

My.gov.uz and Uzum Bank have signed a cooperation agreement to develop fintech solutions and simplify budget payments for Uzbekistan’s residents. Users can now choose a convenient cashless payment method on the unified portal when accessing government services—either using their own funds or through instalments.

To improve access to government services, we have established cooperation between My.gov.uz and Uzum Bank. Now, when obtaining paid government services via My.gov.uz, users can pay with their own funds in the Uzum Bank app or in instalments through Uzum Nasiya. This allows citizens to plan their expenses and receive essential services on time, said Anvar...