News

The Asian Development Bank (ADB) has approved a $300 mln loan, including $100 mln on concessional terms, to support the Uzbek government’s efforts to improve access to finance for underserved micro, small, and medium enterprises (MSMEs), with a particular focus on women-led businesses, and to strengthen the country’s microfinance sector. The policy-based loan aims to foster inclusive economic growth and entrepreneurship.

Expanding Inclusive Finance

The second phase of the programme will build on reforms initiated under Subprogramme 1 of the Inclusive Financial Sector Development Programme. Planned measures include raising the maximum microloan size, refining microfinance regulations, joining the...

Uzbekistan plans to open new consulates in the United States, according to a presidential decree by Shavkat Mirziyoyev establishing the American-Uzbek Business Council. The consulates will include specialists focusing on key US sectors and take into account the size of the Uzbek diaspora in each region.

The planned locations include Chicago, Orlando, and Seattle. A major goal of these consulates will be to foster effective engagement with Uzbek communities across all US states.

Preliminary data indicates that around 75,000 Uzbeks were living in the United States in 2023.

According to the State Committee on Statistics, more...

President Shavkat Mirziyoyev of Uzbekistan has signed a decree establishing the US-Uzbek Business and Investment Council, according to an official statement on the president’s website. The council’s members will be approved, and its operational regulations overseen, by Saida Mirziyoyeva, head of the presidential administration.

The council will prioritise coordinating large-scale trade and investment projects and plans to create an investment fund to attract additional capital into Uzbekistan’s economy. Key investors may include the US International Development Finance Corporation (DFC) alongside global financial institutions. The organisation will also oversee strategic and infrastructure development projects.

In addition, the council will...

Uzbekistan Airways posted a net profit of 710.2 bn soums ($59.2 mln) in the first nine months of 2025, marking a 44% increase from the 494 bn soums ($41.2) earned during the same period last year. According to the airline’s quarterly report under national accounting standards, revenue grew by 6.6% from 12.9 trln ($1 bn) to 13.7 trln soums ($1.1 bn).

Financial performance

The cost of sales stood at 11.7 trln soums ($975.8 mln), resulting in a gross profit of 2.02 trln soums ($168.4 mln), similar to last year’s level. Period expenses nearly halved from 1.43 trln...

Between January and October 2025, Uzbekistan’s imports of agricultural products from Russia rose by 15%, reaching $938 mln, according to the Federal Centre for Export Development under Russia’s Ministry of Agriculture.

Sugar led the list of imported goods, with deliveries increasing by 37% to $188 mln. Imports of chocolate products also climbed by 10% to $82 mln, while demand for soybean meal and oilcake grew steadily. Imports of poultry meat nearly tripled, live animals rose twelvefold and purchases of instant coffee doubled.

The Russian Agriculture Ministry noted that Uzbek consumers appreciate the high quality and diverse range of Russian...

Gayane Umerova, head of Uzbekistan’s Art and Culture Development Foundation and the National Commission for UNESCO Affairs, has been elected chair of the 25th session of the UNESCO General Assembly.

She was chosen by the member states of the Convention concerning the Protection of the World Cultural and Natural Heritage during the 43rd session of the UNESCO General Conference held in Samarkand.

Umerova was recognised for her efforts in promoting cultural heritage and contemporary art, as well as for strengthening Uzbekistan’s international cultural presence. Her work in advancing cultural diplomacy and initiatives aimed at preserving and popularising Uzbekistan’s rich heritage...

Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Uzbekistan’s state-owned JSC Uzenergosotish to develop the country’s largest standalone battery energy storage system (BESS), according to the Emirates News Agency (WAM).

Agreement Overview

The Zarafshan BESS marks the first stage of Uzbekistan’s national battery storage initiative, which will later expand in a second phase. It follows Masdar’s December 2023 agreement with Uzbekistan’s Ministry of Energy and the Ministry of Investments, Industry and Trade to install up to 575 megawatts (MW) or 1.15 gigawatt-hours (GWh) of battery storage capacity nationwide.

The first phase will have the capacity...

The Pakistani Taliban have claimed responsibility for the suicide bombing outside a district court in Islamabad that killed at least 12 people and injured 27.

The group said judges, lawyers and officials who «issued decisions under un-Islamic laws» were the target. They also warned they would continue attacks until Islamic law is implemented in Pakistan.

Earlier on Tuesday, a suicide attacker tried to enter the courthouse but failed. He then detonated his explosives near a police vehicle, Interior Minister Mohsin Naqvi said. The blast was strong enough to be heard miles away.

Pakistani authorities initially blamed the...

China’s extended Singles’ Day shopping festival is offering a muted read on consumer appetite as value-conscious shoppers trade down and focus on necessities despite deep discounts and an earlier start to promotions.

Retail data firm Syntun said combined gross merchandise value had topped 1 trillion yuan ($140bn) by Oct. 31, with final tallies due later this week. Last year’s sales were estimated up 26% to 1.44 trillion yuan, but economists say demand for big-ticket items remains weak amid job and income pressures.

Analysts cite «consumer fatigue» and skepticism over headline discounts, while government rebates for trading in appliances and...

The death toll from a capsised boat carrying Rohingya migrants from Myanmar climbed to 26 on Tuesday as more bodies were recovered in Malaysian and Thai waters, officials said.

Malaysia’s maritime agency reported 8 additional bodies and 1 new survivor found near Langkawi, bringing Malaysia’s total to 20 dead (7 men, 9 women, 4 children) and 14 survivors. Thailand’s Romsai Rescue Foundation said 6 bodies were recovered in Satun province waters.

Authorities estimate about 70 people were aboard the vessel, believed to be one of three smaller boats that split from a larger craft carrying roughly 300 passengers departing Buthidaung...

Uzbekistan’s Legislative Chamber approved an Islamic banking bill in its second and final readings, advancing a landmark framework to the Senate that would legalise Sharia-compliant finance and amend the Tax Code, Civil Code and eight other laws.

The draft law defines key terms (including «Islamic bank»), sets licensing requirements, and permits Islamic banks to engage in trade-based financing and take equity stakes—activities barred under current banking rules. It recognises products such as murabaha, mudaraba, musharaka, wakala and salam, and allows conventional banks to open «Islamic windows.»

Lawmakers also backed tax adjustments to prevent trade-structured Islamic transactions from being disadvantaged...

At the Salone d’Onore del Coni in Rome, where Italian sporting achievements are celebrated, Ferrari president John Elkann addressed the team’s struggles in Formula 1 while contrasting it with the marque’s success in endurance racing.

Elkann spoke frankly after witnessing the celebrations in Bahrain and the team’s disappointing double result in Brazil. His call for unity and focus — «Only when we all fight in the same direction can we win, as endurance racing has shown» — shifted into pointed criticism of drivers Lewis Hamilton and Charles Leclerc.

«We need drivers who think more...

In Goring-on-Thames, Oxfordshire, hundreds of hand-crafted poppies have been displayed outside a church to mark Armistice Day and the 80th anniversary of the end of World War Two.

The installation features 1,752 poppies attached to 25 square metres of camouflage netting in Rectory Gardens. More than 110 balls of red wool were used, with each poppy knitted by hand as part of a project that began in July.

The display was organised by Cleeve by Goring Women’s Institute, the Goring Gap Local History Society, Goring and Streatley Arts, and Goring Parish Council. Parish councillor Barbara Newman said the idea...

Kazakhstan’s Passenger Transportation company will introduce a daily Talgo train service on the Almaty–Tashkent route starting from December 14. The new schedule will allow more than 400 passengers to travel each day.

The route will operate using Talgo trains with upgraded comfort features. The daily timetable is expected to provide more reliable travel options and make trip planning more convenient.

The launch aims to strengthen transport connectivity between Kazakhstan and Uzbekistan, encourage tourism and support cultural and business ties.

Further timetable adjustments on other routes are planned ahead of the winter season.

Tickets will be available on the official...

Phil Nussel, an online editor at Automotive News, has left the publication after more than 20 years and intends to look for a new position.

«I had a great run at Automotive News,» he said, adding that the brand is in a strong place.

Since 2007 he has overseen coverage of key breaking stories on autonews.com and also served as the company’s internship director.

Before joining Crain, Nussel worked as deputy business editor at the Detroit Free Press and business editor at the Detroit News. He previously spent over seven years at Crain’s Detroit Business...

A new projection from AceOdds.com suggests Arsenal are on course to win the Premier League title, finishing seven points clear of Manchester City. The model continues to back Mikel Arteta’s side despite their recent draw away at Sunderland.

Manchester City’s 3-0 victory over Liverpool has moved them into second place in the predicted standings following a difficult start to the campaign. Liverpool, despite five losses in their last six league matches, are still expected to place inside the top three.

Chelsea, currently third, are forecast to end the season in fourth. Manchester United are predicted to finish fifth, narrowly...

A suicide bomber detonated explosives outside a district court in Islamabad on Tuesday, killing 12 people and injuring 27, Pakistan’s interior minister Mohsin Naqvi said.

The blast occurred beside a police vehicle after the attacker failed to enter the heavily crowded court premises. The explosion, heard miles away, struck during peak hours as hundreds of visitors were attending hearings. Early reports mistakenly suggested a car bomb.

Naqvi said investigators confirmed it was a suicide attack but declined to attribute responsibility, noting authorities were examining «all aspects.» No militant group has claimed the bombing, though Pakistan has faced a surge...

Taiwan evacuated more than 3,000 people and shuttered schools and offices on Tuesday ahead of Tropical Storm Fung-wong, which killed at least 18 and displaced over 1.4 mln in the Philippines after making landfall there Sunday.

Once a super typhoon, Fung-wong has weakened but remains dangerous. As of Tuesday morning, it packed sustained winds up to 108 kph (67 mph) and gusts of 137 kph (85 mph). Landfall is expected Wednesday afternoon or evening near Kaohsiung, with the storm forecast to cross the island and exit from the northeast by late Wednesday or early Thursday.

Authorities evacuated more than...

About 2,000 people have fled towns and villages around Bara, North Kordofan since Friday amid heavy clashes between Sudan’s army and the Rapid Support Forces (RSF), the UN’s International Organisation for Migration said.

North Kordofan and Darfur have become the war’s epicenters. The RSF’s capture of El Fasher has left hundreds dead and forced nearly 92,000 to flee, aid groups say. Overall, the conflict—sparked in 2023 between former allies meant to guide Sudan’s transition—has killed at least 40,000 and displaced 12 mln, according to UN agencies.

Local medics reported at least 47 civilians killed in late-October RSF attacks in...

Turkish authorities arrested eight individuals, including top-tier club chairman Murat Ozkaya, on November 10 as part of an investigation into alleged betting on football matches. The Turkish Football Federation (TFF) has suspended 1,024 players across all leagues pending disciplinary review.

Earlier this month, the TFF suspended 149 referees and assistant referees after its investigation found officials in the country’s professional leagues were involved in betting.

Anadolu news agency reported that the court issued the arrests of Ozkaya and seven others as part of the probe.

Super Lig Players Among Those Suspended

The TFF said 1,024 players were referred...

Kyrgyzstan has officially launched USDKG, the world’s first government-issued stablecoin fully backed by physical gold, according to the country’s Ministry of Finance.

The stablecoin, registered by the State Service for Regulation and Supervision of the Financial Market, is pegged to the U.S. dollar at 1 USDKG = 1 USD. Officials say every token is secured by gold under state control, combining the reliability of a traditional reserve asset with blockchain transparency.

The first issuance and listings on centralized and decentralized exchanges are expected in the coming days. Authorities describe the project as part of a national pilot aimed at...

Thailand announced on Tuesday that it will suspend the implementation of an enhanced ceasefire agreement with Cambodia, signed last month in the presence of US President Donald Trump, and will provide an explanation to Washington.

Defence Minister Natthaphon Narkphanit confirmed the return of 18 Cambodian prisoners of war currently held by the Thai military would also be delayed. He did not comment on whether Thai troops would be redeployed. Tensions between the two countries, which clashed for five days in July, rose after a landmine explosion on Monday injured four Thai soldiers.

The Thai military has accused Cambodia of...

Japan’s seven largest automakers saw US tariffs reduce their combined earnings by 1.5 trln yen ($9.74 bn) for the period from April to September 2025, according to half-year results released on Monday. This marked the first decline across the board since the COVID-19 pandemic.

Honda executive vice president Noriya Kaihara described the situation as «the new normal» expected to continue. Tariffs of 27.5% were in place for most of the period before being lowered to 15% on September 16. A stronger yen also reduced the group’s operating profit by 700 bn yen ($4.5 bn). Nissan, Mazda and Mitsubishi reported...

Uzbekistan imported 3.2 mln mobile phones between January and September 2025, marking a 7.4% increase compared with the same period in 2024, according to the National Statistics Committee. The total value of these imports reached $370.8 mln.

China remained the main supplier, providing over 2.5 mln devices. Vietnam supplied 619,200 phones, while the UAE delivered 65,300 units. India and South Korea also featured among the top five suppliers, contributing 31,800 and 4,800 phones respectively.

In addition, by early November 2025, Uzbekistan had purchased telecommunications equipment from abroad worth $744.1 mln, representing a 3% decrease compared with the previous year.