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The cost of gold in Uzbekistan. Photo: Unsplash17, the price of a five-gram gold bar exceeded 6.42 mln soums for the first time. This data was published by the Central Bank of Uzbekistan.

Since the beginning of this year, the price of a five-gram bar has increased by 13.5%.

The prices of ten-gram and twenty-gram gold bars have also risen, reaching 12.8 mln soums and 25.7 mln soums, respectively. The price of a fifty-gram bar has increased to 64.2 mln soums, while a one-hundred-gram bar is now priced at 128.5 mln soums.

Investment bank Macquarie forecasts that the...

As of mid-March this year, the Asian Development Bank (ADB) has invested $14.2 bn in Uzbekistan, according to data from the financial institution.

The ADB supports 32 projects focused on trade, social development, finance and energy.

These investments have contributed to the development of road infrastructure, the improvement of social services, and the promotion of gender equality in the Uzbek economy.

Kursiv Uzbekistan also reports that the ADB will allocate $125 mln to modernize Uzbekistan’s water resource management.

Some fans of Manchester City have criticised Uzbekistani player Abdukodir Khusanov and suggested selling him after he scored an own goal in the match against Brighton, according to Football Insider.

Despite the criticism, there were also fans who supported Khusanov. English head coach Josep “Pep” Guardiola praised him, stating that Khusanov performed well overall.

«Jérémy was incredibly dangerous. Omar played very well, scoring a goal and making an effective pass. Ruben and Khusa (Abdukodir Khusanov) were great. In general, everything was good. We started the second half with a score of 2:1 and created great chances...

Deputy Minister of Investment, Industry and Trade Ilzat Kasimov commented on reports alleging that Chinese companies are seizing land in Uzbekistan. This statement was published on the department’s Facebook page.

Over the past three years, Chinese investments in Uzbekistan have primarily targeted the industry sector (62%), followed by energy (11%) and agriculture (4%).

Kasimov emphasised, “Moreover, foreign investors in Uzbekistan cannot acquire land as property; they can lease it for a maximum of 25 years through an open auction.”

He also noted that Uzbeks are employed in investment projects, which not only create jobs...

Azerbaijan Airlines (AZAL) will resume direct flights from Baku to Samarkand starting 1 April, according to the airline’s official website.

The flights will operate on a regular basis, with one-way ticket prices starting at UZS 1.9 mln ($147).

Tickets are available for purchase on AZAL’s website, mobile app, and through authorised agents.

Earlier, Kursiv Uzbekistan reported that in January 2023, AZAL launched a regular flight route from Baku to Urgench.

Uzbekistan and Kazakhstan have agreed on a plan to more than double their bilateral trade turnover, aiming to reach $10 bn by 2030. The initiative was formalised through a newly signed cooperation programme.

On March 15, Uzbekistan’s Minister of Investments, Industry and Trade, Laziz Kudratov, met with Kazakhstan’s Minister of Trade and Integration, Arman Shakkaliyev, to discuss trade and economic cooperation.

The programme sets a target of increasing trade turnover to $10 bn within the next five years. In 2024, trade between the two countries amounted to nearly $4.3 bn.

To facilitate this growth, Uzbekistan and Kazakhstan plan to...

The United States launched extensive air and naval strikes on targets in Yemen controlled by the Iran-backed Houthi militia, aiming to restore security to international shipping routes in the Red Sea. President Donald Trump announced the operation, marking the most significant military action of his second term.

Targeting Militant Infrastructure

The strikes targeted radar systems, air defenses, and missile and drone facilities, which had been used by the Houthis to disrupt maritime trade. U.S. officials confirmed that at least one senior Houthi commander was among those targeted. The Biden administration had previously conducted similar operations but was unable...

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...