News

Having completed last year with another bond issue of 49.6 bn soums at 19%, TBC Bank has finally secured its status as a systemic issuer. Taking into account the group’s placement of $200 mln in the summer of 2025 and the first entries into the market in 2024, this is already the fourth issuance aimed at developing the business in the country.

Kursiv Research spoke with CFO of TBC Uzbekistan Sharof Sharipov about the strategy of funding diversification and the culture of transparency to understand how debt instruments help a digital bank grow faster than the market.

— Sharof, let’s...

Joy Harmon, the American actress whose fleeting but legendary appearance in the 1967 cinematic masterpiece Cool Hand Luke cemented her place in Hollywood history, has died at the age of 87.

Media outlets have confirmed that the star passed away at her Los Angeles residence on Tuesday after enduring a prolonged battle with pneumonia over recent weeks.

A defining moment in 1960s cinema

Despite appearing on screen for a mere three minutes and lacking a single line of dialogue, Harmon’s performance left an indelible mark on global pop culture. Starring alongside the legendary Paul Newman, she was officially...

On April 15 Uzbekistan alongside 13 other nations officially joined the World Bank Group’s (WBG) “Water Forward” initiative. Launched during the WBG Spring Meetings in Washington this global platform aims to guarantee water security for one billion people by 2030.

The launch event featured high-profile attendees including WBG President Ajay Banga, UN Secretary-General Antonio Guterres and leaders of various international financial institutions. Uzbekistan was represented by Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov.

Water Forward is designed to help developing countries implement vital sector reforms and modernise their water infrastructure. The primary goal is to...

A consortium of leading global investors featuring BlackRock and Franklin Resources has committed an aggregate of $300 mln to anchor the upcoming initial public offering of the National Investment Fund of the Republic of Uzbekistan (UzNIF).

The cornerstone agreement also includes backing from Redwheel and two treasury companies belonging to the Allan & Gill Gray Foundation. Together these financial heavyweights have agreed to subscribe for Global Depositary Receipts (GDRs) at the final offer price, providing a massive vote of confidence in the Central Asian nation’s economic trajectory.

The investment is tied to UzNIF’s highly anticipated dual listing on both...

An agreement between Ipak Yuli Bank and the European Bank for Reconstruction and Development was signed in London as part of the Trade Facilitation Programme (TFP). Following the meeting held on April 13, Ipak Yuli officially obtained the status of a confirming bank, the bank’s press service reported.

This status grants the financial institution the right to guarantee payments on international transactions, serving as an additional protection mechanism for domestic entrepreneurs when dealing with foreign partners.

Participation in the programme gives the bank’s clients direct access to documentary business services, including letters of credit and bank guarantees backed by EBRD...

At the beginning of 2026 online marketplaces and the broader e-commerce sector generated approximately 35% of all new demand for warehouse space in Central Asia. These findings were recently unveiled by IBC Global during the Central Asia Warehouse Summit Uzbekistan.

Third-party logistics (3PL) providers and distribution companies ranked second in the market by securing a 28% share of the demand. Meanwhile the delivery requirements of traditional brick-and-mortar shops accounted for a further 18% of newly acquired storage facilities.

The ongoing development of regional logistics infrastructure contributed about 12% to the overall demand. The light industrial sector alongside multi-temperature storage...

Economic output across the Caucasus and Central Asia is projected to achieve an average annual growth rate of 6% to 7% over the coming years. This forecast was recently presented by the analytical firm INFOline during the Central Asia Warehouse Summit Uzbekistan.

The agency anticipates that Uzbekistan’s gross domestic product will maintain a trajectory of steady expansion. While the nation’s economic volume was valued at $145 bn in 2025, analysts expect this figure to surge to $195 bn by the end of 2029.

Robust economic development is also visible across neighbouring states in the region. According to the latest projections...

A significant fire at one of Australia’s two remaining oil refineries has been successfully put out but the incident has amplified concerns regarding the country’s petrol reserves during an ongoing global fuel shortage, BBC reports.

Emergency services were dispatched to Viva Energy’s Corio facility in Geelong, located southwest of Melbourne, shortly before midnight on Wednesday following reports of flames and explosions. The blaze raged for 13 hours before being extinguished on Thursday. Fortunately no casualties were reported and the dozens of staff on-site were safely evacuated.

While the plant, which is responsible for generating half of Victoria’s fuel and...

According to a recent report by the recruitment platform hh.uz, the median offered salary across Uzbekistan fell by 5.6% year-on-year to 6.29 mln soums ($516) between January and March 2026.

Analysts at the firm emphasised that this metric provides a far more accurate reflection of the current job market than average earnings.

“The median salary remains a more objective indicator than average pay as it avoids data distortion caused by extreme values (very high or very low salaries) and shows the exact central value,” a statement from hh.uz explained.

The capital city experienced the...

A federal jury in New York has concluded that Live Nation and Ticketmaster functioned as an illegal monopoly within the ticketing and live events sector. The decision validates long-standing grievances that the entertainment behemoth was actively suppressing competition and artificially inflating consumer costs, CNN reports.

Following extensive proceedings that featured testimony from prominent figures across the music and entertainment spheres, the jury commenced deliberations on Friday before delivering their verdict.

Despite the ruling, gig-goers should not expect an immediate reduction in ticket prices or supplementary fees. Judge Arun Subramanian is scheduled to preside over a subsequent trial to determine...

A 15-year-old footballing talent from Uzbekistan, Zufarkhuja Akramkhujaev, is poised to join the ranks of the Chelsea Academy this coming September. According to reports from Championat.Asia, the young player will become the very first footballer from the country to enter the youth system of the prestigious West London club.

The paperwork is currently being finalised to facilitate the move. Sources suggest that the agreement with the teenager will span two years, marking a significant commitment to his development within the English game.

Chelsea has long been established as a powerhouse of English football, boasting multiple Premier League titles and...

Shares in American Eagle Outfitters climbed on Wednesday after the clothing retailer revealed a brand-new promotional campaign featuring Euphoria actress Sydney Sweeney, Reuters reports.

The move comes a year after their initial highly debated advert generated massive online attention, sparked a significant stock rally and cemented Sweeney’s status as a key brand ambassador.

Early trading saw the denim brand’s shares surge by almost 6% to reach $18.80. This latest bump followed the unveiling of a summer collection focused on denim shorts which prominently features ultra-low-rise micro “skorts” alongside traditional low-rise options.

A controversial partnership

The retailer’s inaugural collaboration...

The U.S. Senate has voted down a Democratic-led effort to restrict President Donald Trump from launching further military action against Iran without congressional approval, underscoring continued Republican support for the White House.

The measure failed 47–52, falling short of the votes needed to pass. Notably, Democratic Senator John Fetterman broke with his party to oppose the resolution, while Republican Senator Rand Paul sided with Democrats.

The vote comes amid heightened tensions following Trump’s recent remarks suggesting Iran was «very close to over» and earlier statements that raised alarm among lawmakers. Critics, including Senator Tammy Duckworth, argued that the president’s rhetoric...

Iran may allow ships to pass safely through parts of the Strait of Hormuz as part of proposals in ongoing negotiations with the United States, according to a source familiar with the discussions.

The proposal would permit vessels to sail through the Omani side of the narrow waterway without risk of attack, potentially easing a major disruption to global energy supplies. The strait is one of the world’s most critical chokepoints, handling around 20% of global oil and liquefied natural gas shipments.

Since the outbreak of conflict involving Iran on February 28, hundreds of tankers and other vessels...

Rafael Grossi has warned that any future agreement between the United States and Iran must include rigorous monitoring of Tehran’s nuclear programme, as diplomatic efforts to revive talks remain stalled.

Speaking in Seoul, the head of the International Atomic Energy Agency said that without «very detailed» verification measures and on-the-ground inspections, any deal would lack credibility.

«Otherwise, you will not have an agreement. You will have an illusion of an agreement,» he stressed.

His comments come after initial high-level negotiations between Washington and Tehran failed to produce a breakthrough, with both sides...

Thousands of Sikh devotees have gathered at the Golden Temple, the holiest site in Sikhism, to offer prayers during the festival of Baisakhi, one of the most important dates in the Sikh religious calendar.

The celebrations come alongside large-scale pilgrimages across the border in Pakistan, where key Sikh shrines are located. Despite decades of political tensions between India and Pakistan, religious travel has continued under a 1974 bilateral agreement that allows access to sacred sites.

One of the focal points of the pilgrimage is Gurdwara Panja Sahib, which hosts one of the largest annual Sikh gatherings in Pakistan...

In southeastern Turkey on Wednesday a student opened fire at a local middle school, leaving four people dead and 20 others injured, Al Jazeera reports.

The attack took place in the province of Kahramanmaras. Local authorities have confirmed that the suspected shooter, who was enrolled as a student at the educational facility, is also dead following the assault.

Addressing reporters shortly after the incident, Kahramanmaras Governor Mukerrem Unluer provided details regarding how the attack was carried out. According to the governor, the assailant executed the shooting using firearms belonging to his father.

The weapons were reportedly smuggled onto the...

The footballing world is mourning the loss of Jose Emilio Santamaria after Real Madrid confirmed the death of their legendary former defender on Wednesday. The iconic centre-half was 96 years old, Reuters reports.

Arriving at the Bernabeu in 1957, the Uruguayan-born defender enjoyed a spectacular nine-season spell in the Spanish capital. He quickly established himself as a cornerstone of the defence during one of the most dominant eras in the club’s storied history.

Over the course of 337 appearances across all competitions, Santamaria amassed an incredible trophy cabinet. His haul included four prestigious European Cups, six La Liga titles...

The upcoming animated feature film “Avatar: The Last Airbender” was slated to make its official debut on the Paramount+ streaming platform on October 9. However, the highly anticipated picture has unexpectedly leaked online in its entirety.

The exact circumstances surrounding the premature release remain a mystery. Speculation currently points towards two main theories: either malicious hackers managed to breach the company’s servers or a major internal blunder occurred within the studio itself.

Catching up with team Avatar

Serving as a direct continuation of the beloved original series, the new animated film takes place several years after the ultimate...

The Centre of Islamic Civilisation in Tashkent has been officially included in the Guinness World Records, according to a statement from the cultural institution’s press service.

The compilers of the renowned reference book have formally recognised the facility as the largest museum of Islamic civilisation in the world. A certificate presentation ceremony took place on Monday April 13, attended by the centre’s staff and the builders who helped bring the project to life.

Guinness World Records adjudicator Seida Subasi praised the scale and execution of the ambitious project during the handover event.

“I am sincerely...

South Korean pop phenomenon BTS have bagged three nominations for the upcoming 2026 American Music Awards (AMAs), which includes a nod for the ceremony’s most prestigious prize.

Event organisers revealed on Tuesday that the internationally renowned boy band is among the ten acts shortlisted for Artist of the Year. To claim the trophy, they will have to fend off competition from a host of global superstars such as Bad Bunny, Bruno Mars, Taylor Swift and Lady Gaga.

The septet previously made history back in 2021 when they became the very first Korean artists to take home this top honour...

Uzbekistan has set an ambitious target to increase the creative economy’s share of its gross domestic product to 5% by the year 2030. President Shavkat Mirziyoyev outlined this economic goal during a recent congratulatory address directed at the nation’s cultural and artistic workers.

To actively foster the growth of local culture and the broader arts sector, the republic is currently developing a dedicated Creative Industry Park. According to Mirziyoyev, state authorities will continue to pay close attention to the long-term development of this sphere.
The president highlighted significant recent expansions in the country’s cultural infrastructure.

Uzbekistan has recently celebrated the...

An American internet personality who sparked nationwide fury in South Korea after disrespecting a monument dedicated to World War Two victims has been handed a six-month prison sentence, BBC reports.

Ismael Ramsey Khalid, a 25-year-old who streams under the moniker Johnny Somali, was barred from leaving the country following his arrest in November 2024. His detention came shortly after he posted provocative footage of himself kissing and performing a lap dance on a statue honouring wartime sex slaves.

Court verdict and sentencing

On Wednesday, a court in Seoul found Khalid guilty on several charges that included causing a...

President Donald Trump has stated that the military conflict between the United States and Iran is nearing its conclusion as hostilities temporarily cool during a two-week ceasefire agreement.

Speaking to Maria Bartiromo on the FOX Business programme “Mornings with Maria”, the president expressed optimism about the timeline of the conflict.

“I think it’s close to over, yeah. I view it as very close to being over,” he remarked in an interview scheduled for broadcast on Wednesday morning.

More tomorrow @MorningsMaria @FoxBusiness pic.twitter.com/6sROcqLQG5

— Maria Bartiromo (@MariaBartiromo) April...