News

The Uzbekistan National Investment Fund (UzNIF) has started its initial public offering (IPO) with subscription applications remaining open until May 12. The formal declaration of the offering was published on the London Stock Exchange website.

The share placement is designed to unfold across two distinct markets. The domestic offering is tailored for institutional and retail investors within Uzbekistan while the international tranche targets overseas institutional investors through global depositary receipts (GDRs).

Pricing has been firmly set at $25 per GDR alongside a local rate of 4.65 soums per individual security. With a total volume exceeding five trln shares, the...

The board of the Central Bank of Uzbekistan (CBU) resolved to maintain its primary interest rate at 14% per annum following a meeting on April 29. The official announcement detailing the decision was published on the organisation’s website.

According to the regulator, annual inflation dropped to 7.1% in March, aligning comfortably with previous forecasts. Meanwhile, core inflation was evaluated at 5.7%.

Despite these promising figures, the CBU noted that some underlying pressures remain.

“Despite the continued decline in inflation expectations in March, they are forming above the inflation forecasts,” the bank stated.

Revised...

Chinese automotive manufacturer BYD has reported a sharp decline in its financial performance for the first quarter of 2026. According to the Financial Times, the company’s net profit plummeted by 55% year-on-year to $600 mln.

Revenue for the period leading up to April 1 also experienced a downturn, falling by 11.8% to $21.9 bn compared with the same timeframe last year.

The Financial Times noted that these figures reflect a recent slump in BYD’s domestic sales, particularly throughout January and February. This downturn follows a prolonged period of explosive growth and coincides with the gradual phasing out of government...

Recent observations from consumers indicate a practical adjustment to the traditional Costco hot dog combo.

The highly publicised price point remains entirely unaffected. The popular food court meal continues to retail for $1.50, maintaining a steadfast pricing strategy that the company has upheld since 1985.

However, alongside the standard provision of a 20-ounce refillable fountain beverage to accompany the quarter-pound beef frankfurter, customers can now opt for bottled water.
For individuals seeking alternatives to carbonated drinks or Coca-Cola products, a 500ml bottle of Kirkland Signature water serves as a direct substitution.

While patrons have historically had the ability to dispense...

Mark Zuckerberg’s technology empire Meta has secured a multibillion-dollar partnership with Amazon to leverage its custom-designed microchips for artificial intelligence, Bloomberg reports. The deal, which emerged in late April, signals a shift in how the company intends to power its expanding suite of AI tools.

Meta is currently pouring vast resources into developing next-generation generative AI to integrate across its core platforms such as Facebook, Instagram and WhatsApp. By turning to Amazon Web Services (AWS) and its proprietary silicon, Meta aims to diversify its hardware supply chain and reduce its heavy reliance on the processors manufactured by Nvidia.

Over...

The fiercely anticipated fourth instalment of Ted Lasso has secured a launch date. The beloved comedy will grace our screens again on Wednesday August 5, with fresh episodes dropping weekly until October 7.

Apple TV has also treated fans to an initial teaser for the upcoming run. Released on April 28, the montage-heavy preview relies more on visuals than dialogue or storyline reveals. Crucially, it offers a glimpse of both familiar faces and new arrivals as Ted Lasso (Jason Sudeikis) makes his grand return to Richmond to manage a women’s football team.

Fan favourites Hannah Waddingham, Juno Temple, Brett...

Kylie Jenner accompanied her partner Timothee Chalamet to a packed Madison Square Garden on Tuesday April 28 to watch a pivotal match in the New York Knicks’ season, People reports.

The Knicks and the Atlanta Hawks started the evening deadlocked at two games each in their NBA Eastern Conference first-round series. Chalamet, 30, had previously been in the stands for the third clash on April 20 when Atlanta snatched a narrow 109-108 victory away from the home team.

For the fifth fixture of the playoffs, the actor brought 28-year-old Jenner along. Unless the fierce competition stretches to a seventh...

U.S. President Donald Trump has criticised the ongoing hostility between Vladimir Putin and Volodymyr Zelensky, calling it «ridiculous» as he seeks to advance peace talks.

Speaking in a recent interview, Trump confirmed he remains in contact with both leaders and expressed optimism about the possibility of a negotiated settlement, despite the war continuing more than a year into his second term. He argued that personal animosity between leaders is a major obstacle to progress.

Meanwhile, Zelensky warned that Russian military activity near the Chernobyl Nuclear Power Plant poses serious nuclear safety risks, particularly as the anniversary of the...

Visible bruising on the hands of Donald Trump has drawn widespread attention during the state visit of King Charles III to Washington, shifting focus away from the diplomatic programme.

Close-up images from the ceremonial welcome quickly circulated online, prompting a wave of speculation on social media about the U.S. president’s health. While no official explanation has been provided, the footage fuelled unverified claims and political commentary.

The moment overshadowed what had been intended as a display of strong U.S.–UK relations. Analysts also pointed to the leaders’ extended handshake as a symbolic moment, with commentators interpreting body...

The United Arab Emirates has announced it will leave OPEC on May 1, marking a major shift in global energy dynamics.

Energy Minister Suhail Al Mazrouei said the decision reflects the country’s long-term strategy to expand its energy sector and increase production capacity. The UAE, a member of OPEC since 1967, is among the world’s top oil producers.

The move is seen as a setback for Saudi Arabia, which has traditionally led the cartel’s efforts to manage global oil supply and stabilise prices. By leaving, the UAE will no longer be bound by production quotas and could increase...

A Swiss court has dismissed a long-running corruption and money laundering case against Gulnara Karimova, citing procedural obstacles and time constraints.

The Federal Criminal Court in Bellinzona halted the proceedings shortly after the trial began, ruling that no verdict could be reached before the statute of limitations expires. The decision effectively ends the Swiss case against Karimova, who is currently serving a prison sentence in Uzbekistan and was unable to attend the hearings.

Karimova had been accused of running a criminal network known as «The Office,» allegedly involving dozens of individuals and channelling hundreds of millions of dollars...

Tashkent International Investment Forum 2026 will take place from June 16 to 19, positioning Uzbekistan’s capital as a key investment gateway in Central Asia.

The fifth anniversary forum is expected to bring together global investors, government officials, international financial institutions and major corporations, highlighting Tashkent’s growing role in regional economic integration.

Organizers say the event will build on the momentum of the 2025 forum, which attracted more than 8,000 participants from 97 countries and resulted in investment agreements worth over $30 bn.

This year’s programme will feature panel discussions, business-to-business and government-to-business meetings, as well as a large-scale...

Authorities in Vancouver have turned down a request from FIFA to provide its president, Gianni Infantino, with a high-level motorcade escort typically reserved for global leaders such as the Pope or the U.S. president.

The request was made ahead of FIFA’s annual congress in the Canadian city. Officials said security arrangements would remain «appropriate and measured,» in line with previous international events, rather than granting exceptional privileges.

The proposed level-four escort would have allowed Infantino’s convoy to bypass traffic controls and close roads, raising concerns about necessity and public perception. The decision comes as Vancouver faces growing scrutiny...

Argentina has renewed its sovereignty claims over the Falkland Islands following reports that the United States may reconsider its long-standing support for Britain’s position.

The move comes after a leaked Pentagon memo suggested Washington could review its stance, raising concerns about a potential shift in geopolitical alignment. Analysts say such a change could embolden Buenos Aires and increase pressure in international forums.

Argentine leaders, including President Javier Milei and Vice President Victoria Villarruel, reiterated that sovereignty over the islands, known in Argentina as the Malvinas, is «non-negotiable.» Villarruel also sparked controversy by telling island residents to «go back...

Turkish Foreign Minister Hakan Fidan and his Uzbek counterpart Bakhtiyor Saidov held a phone call on Tuesday to discuss bilateral relations and regional developments, according to diplomatic sources.

No further details of the conversation were disclosed, but the talks reflect ongoing diplomatic engagement between Turkey and Uzbekistan.

Relations between the two countries have strengthened in recent years, with expanding cooperation in trade, defence, and cultural exchange. Ankara has also intensified its outreach to Central Asia as part of its broader foreign policy strategy.

The call comes amid continued regional uncertainty linked to developments in the Middle East, with...

The Australian Grand Prix is widely expected to lose its prestigious position as the opening round of the 2027 Formula 1 world championship, PlanetF1 reports. Based on recent schedule projections Bahrain is primed to reclaim the first slot on the racing calendar.

Melbourne has successfully launched the motorsport season for the past two years. Prior to the global disruptions of 2020 the Albert Park circuit was the traditional home of the opening weekend and hosted the first race almost uninterrupted between 1995 and 2019.

Ramadan and logistical shifts

The early structure of the 2027 campaign is being dictated...

The newly released pirate survival game Windrose has pulled in $30 mln in gross revenue during its first ten days on the Steam platform, Vandal reports.

This financial windfall translates to an estimated $400,000 in net revenue for each employee at the 60-person studio behind the hit title, making it one of the most lucrative independent launches of the year.

Developed by the Uzbekistan-based independent studio Kraken Express the game has become an explosive commercial success. It surpassed 1.3 mln active players shortly after its early access launch on April 14.

Market research firm Alinea Analytics attributes these incredible...

A 21-year-old terror suspect has admitted to orchestrating an Islamist attack targeting a Taylor Swift concert in Vienna. The defendant entered a partial guilty plea as his trial commenced on Tuesday, Reuters reports.

The Austrian national, identified in court documents as Beran A, was apprehended on August 7, 2024. His arrest occurred just 24 hours before the American pop star was scheduled to perform the first of three highly anticipated shows in the Austrian capital. The concerts were subsequently cancelled, leaving fans disappointed and prompting Swift to later describe the situation as “devastating”.

The concert bomb plot

Appearing...

JPMorgan Chase has begun relocating some of its European staff back to London from Paris, signalling a reassessment of its post-Brexit strategy.

The bank had previously expanded its presence in France following the UK’s exit from the European Union, but is now scaling back after overestimating staffing needs on the continent. While the exact number of employees moving remains unclear, the shift reflects a broader rethink of its European operations.

Chief executive Jamie Dimon, who has long been critical of Brexit, had earlier warned the bank might significantly reduce its UK footprint. However, JPMorgan has since increased its...

Uzbekistan’s gross domestic product (GDP) recorded a year-on-year growth of 8.7% in the first quarter of 2026.

According to the latest report from the National Statistics Committee the national economy generated a total of 447.9 trln soums ($37.1 bn) by the beginning of April.

This strong economic performance was fuelled by solid gains across multiple key industries. The construction sector experienced the most dramatic surge as it expanded by 16.3% to reach 26.4 trln soums ($2.2 bn). Meanwhile the broader industrial sector grew by 8% to hit a valuation of 124.8 trln soums ($10.3 bn).

Services also maintained steady...

An eight-player squad will represent Uzbekistan at the upcoming World Rapid and Blitz Club Championship in Hong Kong. The chess tournament is scheduled to run from June 17 to 21.

The country’s lineup features heavyweights such as Javokhir Sindarov, Nodirbek Abdusattorov and Rustam Kasimdzhanov. The roster is completed by Nodirbek Yakubboev, Shamsiddin Vokhidov, Mukhiddin Madaminov, Afruza Khamdamova and Umida Omonova.

This summer’s gathering will be the fourth instalment of the club championship in the sport’s history. Up to 42 international teams are expected to travel to the Asian financial hub to compete for the titles. Organisers have stated that the...

The Swiss Federal Criminal Court in Bellinzona has suspended its legal proceedings against Gulnara Karimova, SRF reports.

The presiding judge announced on Tuesday morning that the case against the daughter of former Uzbek President Islam Karimov cannot go ahead because she is legally prevented from leaving her home country.

Karimova is currently serving a prison sentence in an Uzbek penal colony where she is expected to remain until December 2028. The statute of limitations for the major offences she faces in Switzerland which include corruption, money laundering and participation in a criminal organisation, will expire earlier in...

A road traffic collision in South Carolina has claimed the life of Dylan Carter at the age of 24. While millions of television viewers knew him as a standout contestant on the hit U.S. reality programme The Voice, his hometown community in Moncks Corner is mourning the loss of a dedicated philanthropist and beloved local businessman.

The talented vocalist shot to national prominence during season 24 of the high-profile singing competition. Delivering a moving rendition of Whitney Houston’s I Look to You he managed to secure a four-chair turn from celebrity coaches Gwen Stefani, John Legend, Niall Horan and Reba...

Manchester City centre-back Abdukodir Khusanov has celebrated a highly successful season in English football by purchasing a spectacular modern home for his parents in his native Uzbekistan.

The 23-year-old national team standout acquired the property in Kibray, a scenic suburb situated just outside the capital of Tashkent, according to the entertainment outlet Showbiz.

This highly desirable neighbourhood is famous for its clean air and sits right next to a massive woodland park spanning over 40 hectares. Sports media reports suggest the lavish eco-friendly residence is valued at roughly $330,000 and provides his family with a tranquil green retreat away...