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Chinese authorities are considering the possibility of selling TikTok’s American assets to billionaire Elon Musk, according to a report by Bloomberg, which cites sources in the Chinese government.

The Chinese government has not yet reached a final decision on this matter. While Beijing would prefer to keep the social media division under the ownership of its parent company, ByteDance, U.S. courts and authorities disagree with this approach and are demanding the sale of these assets.

In April 2024, President Joe Biden signed a law requiring that TikTok’s assets be transferred to an American company. If this does not...

On Tuesday morning, January 14, an earthquake was recorded in the Bukhara region of Uzbekistan, according to the Republican Center for Seismic Forecasting and Monitoring of the Ministry of Emergency Situations.

The tremors were felt at 5:43 local time by residents in the Peshkun and Karakul districts. The earthquake had a magnitude of 4, and its strength was assessed at 2 on the intensity scale.

Kursiv Uzbekistan also reports that the last earthquake in Uzbekistan occurred on January 6 in the Navoi region.

In 2024, more than 14,800 companies with foreign capital were reported to be operating in Uzbekistan, according to the Statistics Agency.

Throughout the year, the number of these companies increased by 5.8%. At the beginning of the previous year, Russian investors were the most active, establishing over 3,000 enterprises in Uzbekistan. However, by the end of the year, China took the lead with 3,300 companies, while Russian companies accounted for 2,900.

Turkey completed the top three with 1,800 companies, a figure that remained unchanged since the beginning of 2024.

Kursiv Uzbekistan also reports that, according to ESCAP...

Common shares of Yo’lreftrans JSC, trading under the ticker YRFS, have been officially listed on the Republican Stock Exchange (RSE) “Tashkent” since January 14, according to a report from the exchange’s press service.

The company’s securities are classified under the “Privatization” segment of the Stock Market, as designated by the RSE.

Yo’lreftrans, established in 1978 in the Syrdarya region, specializes in repairing railway cars and producing consumer goods.

For the third year of the previous fiscal year, the company reported a net profit of 14.3 bn soums and revenue of 35.8 bn soums.

Kursiv Uzbekistan also reports

The Turkish company Albayrak Holding is interested in constructing a business center at the site of the Beshagach market in Tashkent, according to the press service of the Chilanzar district Khokimiyat.

The proposed project includes several residential buildings and a skyscraper for the future complex.

City authorities plan to transform the Askiya market into an eco-bazaar featuring indoor shopping pavilions, recreational areas, and parking facilities.

A market complex is also being developed in the Mirzo-Ulugbek district of the capital.

Furthermore, Kursiv Uzbekistan reports renovations have begun at the Sputnik housing estate in Tashkent.

A fair will be organised for Kyrgyz entrepreneurs in the Uzbek shopping complex Food City Tashkent, the press service of the Trade Representation of the Republic of Kazakhstan in Uzbekistan said.

They will be able to discuss recent products and contract signings that were addressed in a meeting where representatives of the Trade Representation and Food City Tashkent signed a memorandum.

The trade complex will offer businesses from Kyrgyzstan free trading space and warehouses. Tashkent is also keen on facilitating meetings between business representatives from both countries to establish long-term relationships.

In the first 11 months of 2024, trade...

In 2024, the Uzbek Ministry of Ecology, Environmental Protection and Climate Change announced the rehabilitation of 29 landfills for solid domestic waste (SDW) covering a total area of 81.2 hectares in Uzbekistan. These landfills were situated in nine regions of the country.

The rehabilitation work was conducted following a decree from Uzbek President Shavkat Mirziyoyev aimed at modernising the waste management system. This initiative includes plans to reclaim 167 landfills, encompassing over 1,100 hectares.

The recultivation of landfills and restoration of soil cover contribute to reducing greenhouse gas emissions, minimising fire risks, and decreasing water and air pollution.

As...

KT&G, a South Korean tobacco company, plans to establish a subsidiary in Uzbekistan, according to a report from The Korea Herald.

The company has been operating a regional office in Uzbekistan since 2023 and aims to expand its workforce in the country, as well as establish a sales network to enhance its presence in the Eurasian market.

A spokesperson for KT&G stated, “The establishment of the new facility in Uzbekistan symbolizes our commitment to investment and innovation as we strive to become a leading global company.”

Founded in 1987, KT&G sells tobacco products in 132 countries and has six...

The State Assets Management Agency of the Republic of Uzbekistan has announced an extension for accepting applications for the privatisation of the Khiva Plaza and Khiva Locomotive hotels. The announcement was published on the agency’s portal.

Investors can submit binding proposals until February 20 of this year.

Previously, the department had extended the privatisation process for these two hotels until November 29 last year. Investors are being offered 100% ownership of the state shares in these assets.

The Khiva Plaza Hotel covers a total area of over 8,700 square meters and has 106 rooms. Meanwhile, the Khiva Locomotive Hotel has...

The Ministry of Agriculture of Uzbekistan has signed a memorandum with the Arab company IFFCO Group to strengthen cooperation in food security.

The UAE plans to export up to 10,000 tonnes of strategic products, including vegetable oil and flour, to Uzbekistan as part of the agreement.

The memorandum also outlines the establishment of a Food Security Centre that will focus on combating counterfeit products and protecting intellectual property.

Additionally, both parties agreed to implement new production projects, including manufacturing tomato paste, vegetable oils and other products.

Kursiv Uzbekistan also reports that Binghalib Group intends to relocate from the...

Students from the Tashkent Architecture and Construction University designed the cat houses. These structures are ventilated and heated to ensure the animals remain comfortable in any weather conditions.

This project was carried out in collaboration with the Mushukkent Initiative, with support from the Tashkent Police Department, the National Guard of Uzbekistan, and various government agencies and NGOs.

Kursiv Uzbekistan also reports that airports will begin accepting electronic ID cards.

Paynet has won the auction to privatise 100% of the state’s stake in the National Interbank Processing Centre JSC (HUMO). The State Assets Management Agency of Uzbekistan organised the bidding.

Anvar Isamukhamedov, CEO of Paynet, stated, “We believe that the synergy between HUMO and other participants in the payment market will not only help preserve HUMO’s achievements but also enable it to enhance its market position and effectively realise its long-term goals. By improving business processes, expanding the range of products and services, and introducing new technologies, the company can offer better, more affordable, and innovative solutions for households and...

Uzbekistan and Afghanistan signed an agreement for the transit of goods, according to the news portal TOLONews.

Similar agreements have also been signed by Afghanistan’s Ministry of Industry and Commerce with Turkmenistan and Kazakhstan.

From January to November 2024, trade between Uzbekistan and Afghanistan totalled nearly $1 bn. This represents an increase of $215.8 mn compared to the same period in 2023.

During the first eleven months of the past year, Uzbekistan exported goods worth $969.4 mn to Afghanistan. Meanwhile, Afghanistan’s exports to Uzbekistan amounted to $30.5 mn.

In January-November 2024, Uzbekistan’s clothing production reached UZS 28.3 trln, marking a 43.6% increase compared to the same period in 2023, according to the State Statistics Agency.

Since 2020, the country’s clothing production has more than tripled.

For reference, in the same period last year, Uzbekistan’s textile exports totalled $2.6 bn, with a 6.4% decrease in exports.

Almalyk Mining and Metallurgical Complex (AMMC) produced goods worth UZS 38 trln in 2024, according to the company’s press service. This figure is 20.5% higher than the results of 2023.

The plant exceeded its production forecast by 16%. Over the year, AMMC increased ore extraction by 4.6% and cathode copper production from its raw materials by 4.1%.

AMMC also met its targets for the extraction and processing of gold-containing ores, as well as for the production of chemicals, selenium, and tellurium.

At the end of the year, the plant produced consumer goods worth UZS 7.5 bn.

Uzbekistan became the largest importer of grain from Kazakhstan in 2024, importing 3.3 mn tonnes, according to the Ministry of Agriculture of Kazakhstan.

China ranked second, importing 1.7 mn tonnes, while Tajikistan secured the third position with 1.2 mn tonnes.

From September to December 2024, Kazakhstan increased its grain exports to Uzbekistan by 45%, reaching 1.5 mn tonnes.

Uzbekistan has finalised the privatisation of the Humo payment system, part of the National Interbank Processing Center, for $65 mn. This announcement was reported by Uzbekistan’s State Assets Management Agency (UzSAMA). The sale follows an open process, where six applicants were invited to submit Binding Offers (BO).

Three offers were received, with Paynet submitting the highest bid of $65 mn. This bid aligns with the price range set by the consultant and exceeds the valuation by independent appraiser KPMG.

Paynet, one of Uzbekistan’s largest payment operators, has agreed to ensure the stability of the Humo payment system and protect the...

From January to November 2024, Uzbekistan’s agricultural producers exported 32,200 tonnes of cherries worth $70.3 mn, according to the Statistics Agency of Uzbekistan.

In volume terms, exports decreased by 28% compared to the same period in 2023. However, in value terms, they increased by 33%, driven by a rise in the average price from $1,200 to $2,200 per tonne.

Russia was the primary importer of Uzbek cherries during this period, accounting for nearly 79% of shipments. Kazakhstan imported 3,500 tonnes, and Kyrgyzstan received 2,800 tonnes.

Uzbek cherries were exported to markets in Belarus, the UAE, China, South Korea, Malaysia, and other countries.

Uzbekistan aims to increase its annual exports of electrical equipment to $3 bn. The initiative was presented to President Shavkat Mirziyoyev during a meeting on the industry’s development.

Electrical equipment production is projected to reach UZS 50 trln in 2025. For comparison, last year, enterprises in the country produced electrical goods worth UZS 31 trln.

Exports amounted to $1.3 bn, while investment in the sector totalled $516 mn. Entrepreneurs will also have the opportunity to construct buildings in technology parks and sell them to enterprises in the electrical and related industries.

The number of advertising companies in Uzbekistan reached 1,500 as of January 1, according to the State Statistics Agency.

Tashkent has the highest number of advertising agencies in the region hosting over 1,000 companies.

The Samarkand region ranks second with 91 advertising companies, followed by the Fergana region with 61.

The lowest numbers are recorded in the Syrdarya region, with 9 companies, and Karakalpakstan, with 20.

Uzbekistan’s spending on advertising services amounted to approximately $481 mn in 2024. The country ranked fourth among Central Asian and Eastern European nations in terms of advertising expenditure.

From January to November 2024, Uzbekistan exported 205,500 tonnes of grapes, a 2.2-fold increase compared to the same period in 2023, according to the State Statistics Agency.

In monetary terms, grape exports exceeded $174.7 mn. Russia accounted for the majority of shipments, receiving 164,200 tonnes. Kazakhstan and Kyrgyzstan followed with 19,400 tonnes and 14,500 tonnes, respectively.

Belarus (6,600 tonnes) and Ukraine (334 tonnes) rounded out the top five importers.

It is worth noting that as of early December last year, Uzbekistan’s exports of fruits and vegetables totalled $1.4 bn, despite a 30% year-on-year decline.

Greenland’s Prime Minister, Múte Bourup Egede, firmly stated that the island will not be annexed by the United States, Politico reports.

«We do not want to be Danes. We do not want to be Americans. We want to be Greenlanders,» Egede told journalists on Friday after meeting with leaders of the Danish Kingdom in Copenhagen.

Earlier, former US President Donald Trump had suggested that he would not rule out the use of force to annex Greenland, an autonomous territory of Denmark with a population of 57,000.

When asked whether he had spoken to Trump, Egede replied, «No, but we are open...

Uzbekistan’s enterprises produced electrical equipment worth UZS 31 trln in 2024, as reported to President Shavkat Mirziyoyev during a meeting on the development of the sector.

Last year the country exported electrical equipment totalling $1.3 bn, while investments in the industry reached $516 mn.

According to the plans of the UzElectroIndustry Association, 290 projects worth $4 bn are set to be launched this year. Investments in electrical equipment production are expected to total $600 mn. Overall, $75 bn in investment projects is planned, with $28 bn allocated to localisation programmes.

Entrepreneurs are now permitted to construct buildings in technoparks and sell...

President of Uzbekistan Shavkat Mirziyoyev has instructed officials to increase the export of transport services to $3 bn by 2025, according to the presidential press service.

The initiative was announced during a meeting focused on developing the country’s transport and logistics sector.

Uzbek freight forwarders will be exempted from paying VAT on international transportation services as part of the plans. This measure aims to raise the share of local companies in the sector to 45–50%.

The President also stressed the need to double the volume of international freight transportation.

To boost foreign cargo traffic, the government will introduce an...