News

The Asian Development Bank (ADB) plans to provide between $130 mln and $150 mln for the first phase of constructing Kambarata-1 Hydropower Plant in Kyrgyzstan, according to the country’s Ministry of Energy following talks with the bank’s senior management.

Officials believe ADB could play a key role by offering financial, technical and expert support throughout the project.

During the meeting, both sides discussed terms of investment cooperation, including plans to coordinate financing stages with another major stakeholder — the World Bank.

Representatives from Kyrgyzstan’s energy ministry noted that the construction requires significant funding and the involvement of reliable partners...

Kazakhstan’s state oil company KazMunayGas is exploring the possibility of issuing yuan-denominated bonds to access cheaper financing from international markets.

The firm may tap both dim sum bonds (offshore) and panda bonds (onshore in China), CEO Askhat Khassenov told Bloomberg. He also confirmed interest in Arab debt markets, where borrowing conditions appear favourable.

Khassenov said the company had reviewed several options and found yuan bonds to offer rather good conditions. If approved, this would mark KazMunayGas’s first debt issue in Chinese currency.

At the same time, Kazakhstan has refused to cut oil output despite being a member of OPEC...

A court in Kyrgyzstan sentenced former president Almazbek Atambayev to 11 years and two months in prison. Authorities found him guilty of corruption, illegal enrichment, unlawful land acquisition, and organising mass unrest.

Judges delivered the sentence in absentia after the Supreme Court ordered a retrial of an earlier case. Local media linked the charges to the violent clashes in August 2019, when special forces attempted to arrest Atambayev at his residence.

Atambayev served as president from 2011 to 2017. He led the country through its first peaceful transfer of power but later fell out with his hand-picked successor.

Security forces arrested him in 2019, briefly released him during the 2020 revolution, and...

Kazakhstan ranks near the bottom of the global cost of living index for 2025, taking 114th place out of 139 countries. Daily expenses in the country are 73.4% lower than in New York City, which serves as the benchmark with an index of 100%.

The data reflects the cost of food, transport and services, but excludes housing. Kazakhstan’s overall score stands at 26.6, with a food index of 27.4, restaurant prices at 28, and local purchasing power at 50.8. Rental prices remain especially low, with a rent index of just 10.5.

Across the CIS region, Kazakhstan’s cost of living is more affordable than in Armenia, Moldova and Azerbaijan, but higher...

In the first quarter of 2025, 2,600 people from Uzbekistan and 982 from Russia relocated to Kazakhstan, according to data from the Kazakh Bureau of National Statistics.

Other countries of origin included China (427 arrivals), Mongolia (129), and Turkey (57).

Most foreign nationals settled in Almaty city, Almaty region, and Mangystau region.

Earlier, Kursiv Uzbekistan reported long queues at border checkpoints between Uzbekistan and Kazakhstan due to the high volume of people attempting to cross.

Munich, Germany – In a gripping second half of the UEFA Nations League semi-final, Portugal secured a dramatic 2-1 victory over Germany, with the decisive moments unfolding in the closing stages of the match.

Germany opened the scoring in the 49th minute when Florian Wirtz headed home a clever lobbed pass from Joshua Kimmich. After a brief VAR check for a potential offside involving Nick Woltemade, the goal stood.

Portugal responded in stunning fashion in the 64th minute. Francisco Conceição curled a beautiful shot into the top corner from 24 yards out, leveling the score at 1-1 and swinging momentum...

Tashkent has been added to the concert tour of American singer Jennifer Lopez, titled ‘Up All Night’. Kursiv Uzbekistan spotted the update on the official tour schedule.

The concert in Uzbekistan’s capital will take place at Milliy Stadium (formerly Bunyodkor) on August 7. Ticket pre-sales are expected to open soon.

Fans in Uzbekistan had earlier expressed concern, as Tashkent was not initially listed in Lopez’s tour itinerary.

The singer will also perform in Astana and Almaty on August 1 and 10, respectively. In Kazakhstan’s capital, fans have already sold out the venue. According to Kazakh media, ticket prices start from...

Elon Musk has once again criticised the budget proposal put forward by former US President Donald Trump’s administration. In a post on X, Musk called the bill «disgusting» and «vile».

This time, the former head of the Department of Government Efficiency (DOGE) used even stronger language. He described the bill as driven by lobbying interests and said its approval was «a disgrace for everyone who supported it».

Musk expressed concern over the sharp increase in government spending and the rapid growth of public debt. He argued that such changes undermine efforts to restore fiscal stability.

The proposal also...

Lee Jae-myung, the Democratic Party candidate, has officially taken the oath of office as President of South Korea, according to Yonhap News Agency.

Lee secured over 49% of the vote in the presidential election, while his opponent Kim Moon-soo received 41%.

In his inaugural address, Lee pledged to be a unifying leader for all South Koreans. He announced that the new administration would take measures to prevent the imposition of martial law.

To support the economy, the government plans to establish a dedicated task force. The focus will be on attracting investment in advanced industrial sectors.

Seoul also aims to...

President of Uzbekistan Shavkat Mirziyoyev congratulated South Korea’s newly elected president, Lee Jae-myung, according to the press service of the Uzbek head of state.

“I am confident that under your leadership, our special strategic partnership will continue to grow dynamically across all priority areas,” Mirziyoyev stated in his congratulatory message.

The Uzbek president also invited Lee to visit Uzbekistan to further strengthen cooperation between Tashkent and Seoul.

In his inaugural speech, President Lee said South Korea would pursue a course of “practical diplomacy”, aiming to build relations with neighbouring countries based on...

Uzbekistan and Iran have signed a memorandum of understanding to enhance transit cooperation, Tehran Times reports. The agreement paves the way for Uzbek businesses to invest in building a terminal and logistics hub at Iran’s Shahid Rajaee Port.

The document was signed by Uzbekistan’s Minister of Transport Ilkhom Makhkamov, Iran’s Minister of Roads and Urban Development Mehrdad Bazrpash (note: verify source spelling, original says Farzane Sadegh), and Saeid Rasouli, Head of Iran’s Ports and Maritime Organisation (PMO).

Shahid Rajaee Port is located on the northern shore of the Strait of Hormuz. Its total area exceeds 19 hectares and includes 23 berths. The...

The Economic Cooperation Organisation (ECO) has included Uzbekistan’s proposal to recognise Samarkand Airport as an ECO aviation hub in the Tehran Declaration, Uzbekistan’s Ministry of Transport reports.

The declaration also incorporates Tashkent’s initiative to establish a digital transport and customs office.

ECO member states adopted the Tehran Declaration in early June in the Iranian capital. The document aims to foster development in the transport sector.

Founded in 1985, the ECO promotes economic and logistical cooperation among its members. Uzbekistan and other Central Asian states joined the organisation in autumn 1992.

Earlier, Kursiv Uzbekistan reported that Uzbek businesses would...

On June 2, the International Union for Conservation of Nature (IUCN) launched its Central Asian regional office in Tashkent, situated at the Central Asian University for Ecology and Climate (Green University). This strategic choice underscores a crucial partnership between academia, environmental experts, and governmental authorities to tackle pressing ecological challenges facing Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan.

Glaciers melting: water crisis looms

“We cannot afford to lose Central Asia’s glaciers. They secure the region’s water supply, and they are melting,” warned Dr Grethel Aguilar, Director General of the International Union for Conservation of...

Uzbekistan national football team player Abbosbek Faizullaev stated that his teammates are in high spirits and ready for the match ahead against the UAE.

The game between Uzbekistan and the United Arab Emirates will be held on June 5 at Al Nahyan Stadium, kicking off at 21:00 Tashkent time. Emirati authorities have allocated 960 seats at the stadium for Uzbek fans.

Kursiv Uzbekistan reports that the Uzbekistan women’s national football team narrowly defeated India in a friendly match.

In April 2025, Uzbekistan’s Central Bank sold 11 tons of gold. For the third consecutive month, the country has maintained its position as the world’s largest seller of precious metals, according to the World Gold Council (WGC).

In total, the regulator has sold 26 tons of gold in the first four months of this year.

Regarding gold exports, Uzbekistan shipped out more than $5.4 bn worth of gold during the same period.

Goldman Sachs analysts stated this spring that gold prices could rise to $3,700 per ounce in 2025. The previous forecast had projected prices at $3,300 per...

Beelab JSC (Beepul fintech service) and Ipoteka bank OTP Group have signed a memorandum of understanding, marking the beginning of strategic cooperation in the development and implementation of digital financial solutions. The parties agreed to work together on integrated lending, deposit and bank card services aimed at both private customers and small businesses.

At the initial phase of the partnership, it is planned to launch co-branded cards and digital microloans, which will be available in the Beepul application in the coming months of 2025. In the future, the parties are considering expanding the range of offers: deposit products, as well...

Kazakhstan, Tajikistan and Uzbekistan have signed an agreement to jointly use the Bahri Tojik reservoir to irrigate agricultural land during the summer months. Tajikistan’s Ministry of Energy and Water Resources announced the news following the signing ceremony.

The ministers responsible for water management from all three countries signed the document. The agreement governs the operation of the reservoir from June to August 2025.

Bahri Tojik is a hydrotechnical facility located in Tajikistan’s Sughd Region in the north of the country. It was built on the Syr Darya River and entered service in 1959.

Earlier, Kursiv Uzbekistan reported that...

Tashkent launched a new regional office of the International Union for Conservation of Nature (IUCN) on June 2, which will coordinate environmental efforts across Central Asia. The opening ceremony took place at the Central Asian University for Ecology and Climate (Green University).

Dmitry Gorshkov, IUCN’s Regional Coordinator, will head the office. It aims to support Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan and Turkmenistan in tackling pressing environmental issues — from biodiversity protection and habitat conservation to climate change mitigation.

Aziz Abdukhakimov, Uzbekistan’s Minister of Ecology, Environmental Protection and Climate Change, noted that the office’s location at Green University was a deliberate choice...

The GSMA’s M360 Eurasia 2025 summit concluded successfully in Tashkent on May 22, marking its first-ever gathering in Central Asia. Supported by Uzbekistan’s Ministry of Digital Technologies, Beeline Uzbekistan, and VEON Group, this landmark event brought together prominent leaders from the global mobile telecommunications and technology sectors, policymakers, investors, and industry specialists from across Eurasia. In total, over 1000 participants from 60 countries attended the event, highlighting Uzbekistan’s rapidly growing prominence as a regional technology hub and a digital bridge for Central Asia.

M360 Eurasia 2025 served as a strategic platform for discussions on accelerating digital transformation across the region...

Transfers from Kazakhstan to Uzbekistan rose by 64.6% in April, reaching UZS 459 bn (KZT 17.15 bn), up from UZS 279 bn (KZT 10.42 bn) in March, according to Kazakhstan’s National Bank.

Uzbekistan became the second-largest recipient of remittances from Kazakhstan, behind only Russia.

In April 2025, Kazakhstan received UZS 50 bn (KZT 1.96 bn) from Uzbekistan — a 21.5% increase compared to UZS 41 bn (KZT 1.62 bn) in March.

Uzbekistan’s share of total foreign remittances into Kazakhstan rose to 10.2%, up from 9.7% in March. This positions the country as Kazakhstan’s third-largest source of incoming money transfers, after Russia (25.7%) and the US (15.4%).

Analysts attribute the increase to greater migrant activity...

Uzbekistan’s annual inflation rate declined to 8.7% in May, down from 10.1% in April. The State Statistics Agency published the update in its monthly inflation report.

This marks the lowest year-on-year inflation recorded over the past 12 months.

Monthly inflation, however, accelerated to 1.5% — more than twice the 0.7% rate seen in April.

Over the first five months of 2025, consumer prices rose by 4.4%, averaging 0.9% per month. For comparison, the monthly average stood at 0.7% in 2023 and 1.1% in 2024.

Food prices fell by 0.8% month-on-month in May. The drop reflects seasonal supply increases following...

Construction of the Orto-Tokoy hydropower plant in Kyrgyzstan has passed the halfway point. The country’s Ministry of Energy made the announcement.

The project, launched in June 2024, is being developed by Chakan HPP in cooperation with China National Machinery Industry Corporation. Completion is scheduled for the first half of 2026.

The hydropower plant will have a capacity of 21 megawatts and is expected to provide electricity to over 14,000 consumers in the city of Balykchy.

Key stages of construction have already been completed, including road access, tunnel drilling, and structural works on key infrastructure. Work is now focused on...

Kazakhstan aims to boost political engagement and trade with Afghanistan. President Kassym-Jomart Tokayev made this clear during a meeting with Nooruddin Azizi, acting Minister of Industry and Commerce of Afghanistan, held on the sidelines of the Astana International Forum.

Tokayev said Kazakhstan seeks to raise bilateral trade with Afghanistan to over $3 bn. He also noted that Kazakhstan maintained its diplomatic mission in Kabul after the Islamic Emirate took power.

The Afghan side welcomed Kazakhstan’s continued engagement. Nooruddin Azizi thanked the Kazakh government for its diplomatic support and for removing the Islamic Emirate from its list of terrorist organisations.

President Shavkat Mirziyoyev held a phone call with Sheikh Nuriddin Kholiqnazar, Mufti and Chairman of the Muslim Board of Uzbekistan, who reported on the successful arrival of Uzbek pilgrims in Saudi Arabia for Hajj.

A total of 15,000 citizens of Uzbekistan have travelled to the holy sites, accompanied by trained specialists and medical staff to support the pilgrimage.

According to Kholiqnazar, this year’s arrangements included air-conditioned tents for Uzbek pilgrims in the Arafat Valley, provided at the request of Tashkent.

«The preparations for this year’s Hajj season were carried out at a much higher level, with all...