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On March 15, Manchester City and Brighton played to a 2-2 draw at the Etihad Stadium, with Abdukodir Khusanov finding himself at the center of a pivotal moment.

In the 48th minute, with City leading 2-1, Brighton’s Jack Hinshelwood fired a shot that deflected off Khusanov, sending the ball past his own goalkeeper and leveling the score. While the own goal shaped the final result, Khusanov remained active in City’s defensive efforts, continuing to adapt to the demands of English football.

Earlier in the game, Erling Haaland opened the scoring for Manchester City with a penalty in the 11th minute...

US forces have eliminated Abdullah Makki Muslih al-Rifai, also known as Abu Khadija, a key leader of ISIS in Iraq and Syria. The US Central Command confirmed the operation.

The airstrike targeted his vehicle in Al Anbar province, Iraq, killing both him and another militant. The identity of the second individual has not been disclosed.

After the strike, US and Iraqi forces arrived at the scene to confirm the identities of those killed.

Makki was one of ISIS’s most senior figures, overseeing logistics, attack planning, and financial operations for the group on a global scale. His death marks a significant...

A three-day Uzbek Cuisine Festival and Food Exhibition is taking place at Centaurus Mall in Islamabad, according to Dawn.

The festival features around 2,000 traditional dishes and products, offering visitors the chance to taste Uzbek cheeses, yoghurts, samsa, bean-based dishes, and national sweets. Each evening, guests can also enjoy a traditional Uzbek iftar with plov.

Over 20 food companies from Uzbekistan are taking part in the event.

Diplomats and business representatives from both countries attended the opening ceremony. The Ambassador of Uzbekistan to Pakistan, Alisher Tukhtaev, described the festival as a valuable opportunity to strengthen business ties, urging local...

Uzbekistan has not been included in the list of countries whose citizens will face stricter entry requirements for the United States. The New York Times reported on the upcoming policy changes.

The restrictions on immigration and tourist visas will affect 43 countries, which have been divided into three groups:

Red category – 11 countries, including Afghanistan, Iran, and Syria, whose citizens will face a complete entry ban to the US.

Orange category – Russia, Belarus, Turkmenistan, and seven other nations. Only wealthy business travellers from these countries will be allowed to enter. The exact criteria for this classification will...

In 2024, 2,900 Uzbek citizens moved to Russia under the State Programme for the Voluntary Resettlement of Compatriots, according to Kommersant.

By the end of the year, 3,600 Uzbek nationals had submitted applications, and 2,100 received participant certificates. In terms of the number of relocated compatriots, Uzbekistan ranked third among all countries.

Kazakhstan led the list with 11,100 participants. Meanwhile, Tajikistan followed in second place with 6,100.

A total of 31,700 compatriots moved to Russia in 2024—the lowest figure since 2011. Experts attribute the decline to new Russian language proficiency requirements, growing anti-migrant sentiment in Russia, and a shrinking...

The European Union has lifted sanctions on Gulbakhor Ismailova, the sister of Russian billionaire Alisher Usmanov, according to Reuters.

Hungary lobbied for the removal of sanctions against Ismailova, businessman Viatcheslav Kantor, and Russia’s Minister of Sport Mikhail Degtyarev. Budapest had also pushed for lifting restrictions on billionaire Mikhail Fridman and others, but EU member state ambassadors reduced the number to just three individuals.

This compromise with Hungary allowed the EU to extend sanctions against Russian individuals and companies for another six months. The decision was made on 14 March during a meeting of EU ambassadors in Brussels.

The European Union plans to remove Gulbakhor Ismailova, sister of Russian businessman Alisher Usmanov, from its sanctions list, according to investigative project Sistema, citing sources.

Sanctions were imposed on Ismailova in April 2022, as she was believed to hold a share of Usmanov’s foreign assets.

The EU will also lift restrictions on Viatcheslav Kantor, who allegedly has close ties to Russian President Vladimir Putin, and Mikhail Degtyarev, Russia’s Minister of Sport.

A final decision on their removal from the sanctions list is expected soon. Previously, Hungary had pushed to lift sanctions on both Usmanov and Ismailova but later agreed...

The family of US President Donald Trump is in talks to acquire a stake in Binance, the world’s largest cryptocurrency exchange, The Wall Street Journal (WSJ) reported.

Insiders say Trump’s inner circle is considering purchasing Binance’s US division. A year ago, the crypto exchange itself proposed a deal to Trump’s supporters.

If the Trump family gains control over part of the company, Binance could regain access to the US market. The exchange previously faced a scandal two years ago when it was found guilty of violating anti-money laundering regulations.

The price of a five-gram gold bar set a new record on February 20, rising above UZS 6.36 mln, according to data from the Central Bank of Uzbekistan.

On the previous day, gold futures surpassed $3,000 per troy ounce for the first time in history. Demand for the safe-haven asset continues to grow amid tighter trade restrictions, declining US stock indices, and increasing recession risks in the United States.

The price of a 10-gram gold bar issued by Uzbekistan’s central bank has climbed to UZS 12.72 mln, while 20-gram bars now cost UZS 25.45 mln. The price of 50-gram...

The European Bank for Reconstruction and Development (EBRD) will provide a €15 miln loan to Ukrainian pharmaceutical company Yuria-Pharm for projects in Uzbekistan and Ukraine, according to the bank’s press service.

The funding will support production expansion, energy efficiency improvements, and the installation of solar panels. A portion of the funds will also be allocated to modernising the company’s IT infrastructure in Ukraine and launching the bioGENext educational platform.

This financing will strengthen Yuria-Pharm’s market position in Ukraine, Uzbekistan, and Central Asia.

Since March 2023, Yuria-Pharm has owned the Uzbek pharmaceutical company Reka-Med, with part of the acquisition funding...

Analysts at Macquarie Group predict that gold prices will rise to $3,500 per troy ounce in the third quarter of 2025. The increase is attributed to investor demand for assets with minimal credit or counterparty risk.

Gold prices have already increased by 12% this year due to geopolitical instability and the trade policies of U.S. President Donald Trump. Additionally, concerns over the U.S. budget outlook indicate potential inflationary pressures, which may further support gold as a hedging instrument.

Despite rising prices, demand for gold in jewellery, bullion, and coins is expected to remain strong. Investors continue to view gold as...

Spanish retail group Inditex, which owns brands such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, and Oysho, reported a 9% increase in net profit for 2024, reaching €5.4bn. According to the company’s annual report, the growth was driven by continuous investment in-store networks, expansion of online sales channels, and advancements in logistics platforms with a focus on innovation and technology.

The group’s earnings before interest and taxes (EBIT) rose by 8.9% to €10.7bn, while total revenue grew by 7.5% to €38.6bn. Europe, excluding Spain, remained the largest market for Inditex, contributing to half of the company’s offline...

A street in Paris has been named after the Uzbek city of Samarkand, marking a new step in cultural and diplomatic relations between Uzbekistan and France. President of Uzbekistan Shavkat Mirziyoyev attended the inauguration ceremony during his official visit to France.

As part of his visit, Mirziyoyev also met with the Mayor of Paris, Anne Hidalgo. The Uzbek leader expressed his appreciation for the decision to name the street after Samarkand, highlighting the historical significance of the city. He also congratulated Hidalgo on the successful organisation of the Olympic and Paralympic Games.

The Paris mayor, in turn, thanked Uzbekistan...

CSKA Moscow midfielder Abbos Faizullaev commended the performance of his teammate Abdukodir Khusanov following their recent match against Dynamo Moscow. Faizullaev also acknowledged the goal scored by Sekou Koita, describing it as an impressive moment in the game.

Faizullaev stated that Khusanov’s performance reflects positively on Uzbekistan’s footballing talent. He emphasised that his teammate’s contribution is a source of pride for the country.

On March 12, during the 50th minute of the match, Faizullaev advanced the ball towards the opposition’s goal and provided an assist to Koita. Surrounded by defenders, Koita executed a swift turn before striking the ball...

The OPEC Fund for International Development has approved a $35 mln loan for Asaka Bank, one of Uzbekistan’s largest commercial banks, to expand financing for agriculture and climate-related projects. The agreement aims to improve food security and strengthen climate resilience by increasing financial support for small and medium-sized enterprises (SMEs) in the sector.

Support for agriculture and SMEs

Agriculture contributes 25% of Uzbekistan’s GDP and employs a significant portion of the workforce. However, the sector faces challenges such as water scarcity, extreme weather conditions, and limited access to finance. The funding will help small-scale farmers and agribusinesses secure financial resources to invest in modern technology, infrastructure, and market expansion.

Asaka Bank will on-lend the funds to SMEs...

SUEZ, a global leader in the water and waste management sectors, has signed two new agreements with Uzbekistan to support the country’s environmental initiatives. These agreements align with Uzbekistan’s long-term strategy to improve water infrastructure and develop human capital in the sector.

Public-Private Partnership for water supply in Surxondaryo

SUEZ and UzSuvtaminot have signed a term sheet for a two-year service and supply contract in preparation for a long-term Public-Private Partnership (PPP) in four districts of Surxondaryo: Sariyoso, Denov, Shorchi, and Kumqorgon. The project aims to improve water supply services for 1 mln residents.

The agreement covers network improvements, equipment maintenance, and customer service...

The National Bank of Uzbekistan has signed a $200 mln credit line agreement with France’s Natixis bank. The agreement was concluded during the Uzbek-French business forum in Paris.

Credit line to support key investment projects

As part of Uzbekistan’s 2025 state investment programme, the National Bank of Uzbekistan aims to attract $1.2 bn in credit lines from international financial institutions. The newly secured funds will be allocated to priority investment and infrastructure projects. These include transportation, housing construction, tourism, renewable energy, modern clinics, airport upgrades, and support for SMEs.

The credit line is provided with insurance coverage from European export credit agencies and does not...

Banks in Uzbekistan and Kazakhstan are likely to lead Eurobond issuance in the CIS+ region in 2025, driven by refinancing needs, strong economic growth, and favourable investor sentiment. Total Eurobond placements in the region could approach the record $3.5 bn issued in 2024, significantly higher than the previous peak of $1.3 bn in 2020. This announcement comes from Fitch Ratings.

Refinancing and market growth drive issuance

CIS+ banks are expected to issue new Eurobonds primarily to refinance existing debt, with $1.8 bn maturing in 2025–2026. Additionally, strong loan growth and stable economic conditions are likely to support bank...

Voltalia has signed a power sales agreement (PPA) with Uzenergosotish for its hybrid energy project in Uzbekistan. The agreement was finalised during Uzbek President Shavkat Mirziyoyev’s visit to France. The Uzbek Ministry of Energy and the Ministry of Investment and Foreign Trade facilitated the signing.

Artemisya project to expand Uzbekistan’s renewable capacity

The Artemisya project, located in the Bukhara region, will integrate 126 megawatts of solar energy, 300 megawatts of wind power, and a 100-megawatt/200-megawatt-hour battery storage system. The project is expected to strengthen Uzbekistan’s energy infrastructure and provide a reliable power supply.

Voltalia’s collaboration with Uzbek...

The exchange rate of the American dollar at the Uzbek Republican Currency Exchange (UzRVB) has decreased by 8.17 soums, now standing at 12,931.94 soums.

The Central Bank of Uzbekistan has maintained the US currency rate at this level.

Banks are currently buying dollars for between 12,880 and 12,920 soums and selling them for prices ranging from 12,950 to 13,000 soums.

Kursiv Uzbekistan also reported on the changes in the dollar exchange rate in Uzbekistan at the end of last week.

In January 2025, the volume of construction works in Uzbekistan reached 11.8 trillion soums, marking an annual growth of 17.9%, according to the National Statistics Committee.

The highest construction activity was observed in the capital city, Tashkent, which recorded 3.6 trillion soums. Tashkadarya and Tashkent regions followed with 1.4 trillion soums and 815.6 bn soums, respectively.

For comparison, in January 2023, the construction volume was 5 trillion soums, while in 2022, it was 6.9 trillion soums.

Kursiv Uzbekistan also reports that property developers in Uzbekistan will face fines for generating excessive dust.

Alexei Maximov has been appointed as the head of JSC National Interbank Processing Centre (Humo). This decision was made by the company’s Board of Directors on March 6.

Maximov will lead the company until March 2028. Previously, he served as the deputy chairman of the board at Octobank.

Humo was formerly led by Shukhrat Kurbanov. It’s worth noting that in January of this year, the payment system was acquired by Paynet for $65 mln.

Kursiv Uzbekistan also reports that Humo’s net profit for 2024 totaled 168.2 bn soums, reflecting an annual growth rate exceeding 47%.

European Commissioner for International Partnerships, Josef Sikela, will visit Central Asian countries, including Uzbekistan, from March 12 to 18, in preparation for the EU-Central Asia Summit taking place in Samarkand in April.

During his visit, he will be accompanied by representatives from European financial institutions and businesses. In Uzbekistan, Sikela plans to meet with members of the Uzbek government and business community, as well as representatives from the Almalyk Mining and Metallurgical Combine (AMMC).

He will also participate in a signing ceremony for regional projects focused on digital interconnectivity.

Sikela’s visit aims to expand the Global Gateway investment program to...

Nodirbek Yakubboyev. Photo: Prague International Chess

Uzbekistan’s Nodirbek Yakubboyev won the Challengers tournament held in the Czech Republic, as reported by UzChess.

He scored seven points over nine rounds, achieving five wins and four draws.

Denmark’s Jonas Byul Bjerre secured second place, while China’s Ma Kun finished third.

Yakubboyev’s victory at the tournament guarantees his participation in the Masters, which will take place in 2026.

Earlier this year, in late January, Kursiv Uzbekistan reported that Nodirbek Yakubboyev apologized to Indian chess player Rameshbabu Vaishali.