News

Malaysia has taken a major step into digital finance with the launch of RMJDT, a ringgit-backed stablecoin announced by telecommunications company Bullish Aim — owned by Johor’s Crown Prince and current Regent, Tunku Ismail Idris.

The stablecoin will be fully pegged to the Malaysian ringgit and issued on the Zetrix L1 blockchain, a network positioned to connect governments and enterprises operating within the Web3 ecosystem, particularly in partnership with China.

As part of the initiative, Bullish Aim will set up a digital treasury and has allocated 500 mln ringgit (about $121.5 mln) to purchase native Zetrix (ZETRIX) tokens...

Nvidia CEO Jensen Huang has issued a stark warning about China’s accelerating momentum in artificial intelligence, pointing to the country’s rapid infrastructure development and expanding energy capacity as key advantages over the United States.

Speaking at a CSIS event, Huang said building a data center in the U.S. can take around three years, while China can complete massive projects «in a weekend,» highlighting its ability to deploy AI-ready facilities at unprecedented speed. He also noted that China now has twice the energy capacity of the U.S., with its supply «going straight up,» while American growth remains flat...

U.S. President Donald Trump has set off a geopolitical shockwave with a new National Security Strategy that dramatically breaks from decades of American foreign policy. The document portrays Europe as weak, unfocused and facing «civilisational erasure,» while notably avoiding describing Russia as a threat.

The shift has stunned European allies, who say the strategy distorts reality and echoes far-right narratives. EU officials warned the approach could undermine transatlantic unity at a time of heightened global tensions.

Moscow, however, responded enthusiastically. A Kremlin spokesman said the strategy was «largely consistent» with Russia’s worldview — a rare moment of open...

Two close friends of Amy Winehouse «deliberately concealed» their sale of the late singer’s personal belongings at high-profile auctions, the High Court has heard.

Mitch Winehouse, acting as administrator of his daughter’s estate, is suing stylist Naomi Parry and friend Catriona Gourlay, accusing them of profiting from dozens of items sold in U.S. auctions in 2021 and 2023 without the estate’s consent.

Winehouse, who died aged 27 in 2011, left behind a large collection of clothing and memorabilia. Lawyers for her father said the two women failed to notify him before selling more than 150 items, including the...

Tashkent’s interdistrict economic court has declared fintech company Humans bankrupt and launched liquidation proceedings, following a lawsuit filed by Octobank, Gazeta.uz reports.

The court ruling, issued on 14 October, assessed Humans’ debt to Octobank at 429 bn soums. Despite the bankruptcy declaration, the company will continue operating while the liquidation process moves forward.

The dispute escalated in June, when Octobank disconnected Humans from its payment system and claimed the company owed 500 bn soums. A court later ordered Humans to repay the debt.

Humans responded by announcing plans to file a counterclaim...

The European Bank for Reconstruction and Development (EBRD) will extend a $50 mln loan to Ipak Yuli Bank to strengthen small and medium-sized businesses (SMEs) in Uzbekistan, the institution’s press service told Kursiv Uzbekistan.

Of this sum, $15 mln will support the country’s green economy, including production upgrades and measures to improve energy efficiency. The first tranche is provided under the HIPCA programme, funded by the United States, South Korea, Austria and Germany.

The remaining $35 mln will go towards SME development. The EBRD noted that Ipak Yuli Bank will receive the funds in Uzbek soums.

According to the bank...

Telegram’s integrated crypto Wallet has officially started operating in Uzbekistan, allowing users to buy and sell cryptocurrency directly inside the messenger using local payment systems.

Wallet supports Bitcoin, Toncoin, USDT and more than 200 other tokens, giving users fast options for buying, sending and receiving digital assets.

Irina Chuchkina, Wallet Telegram’s development director, said: «My team spends a lot of time collecting and analysing data about different markets and regions. Our task is to identify countries that are priorities. Uzbekistan is always at the top of the list in all our tables and matrices. It is...

The European Commission has approved Mars’ $36 bn purchase of Kellanova, the maker of Pringles, the EU executive announced on Monday. The decision follows a full-scale investigation launched in June amid concerns the deal could drive up prices.

The acquisition, one of the largest in the snacks sector, brings together brands including M&Ms, Snickers, Whiskas, Pringles, Pop-Tarts and Kellogg’s cereals. The Commission said the transaction is unlikely to cause competition issues in the European Economic Area.

Officials noted that while both companies hold market power in parts of Europe and could theoretically bundle products to negotiate higher prices with...

New York City Mayor-Elect Zohran Mamdani will take up residence in Gracie Mansion, the historic Manhattan home of most city mayors since World War II, leaving behind his rent-stabilised apartment in Astoria that drew attention during his campaign.

The 1799 mansion, overlooking the East River, features butter yellow paint, green shutters and white railings. Inside, the Federal-style home preserves much of its original charm, with five bedrooms and enhanced security for the mayor and his family. Some former residents have claimed the mansion is haunted, including Chirlane McCray, wife of former mayor Bill de Blasio, while outgoing Mayor Eric...

Uzbek grandmaster Javokhir Sindarov made a spectacular start at the Freestyle Chess Grand Slam 2025, claiming a series of victories over some of the world’s strongest players and leading the standings after the first day.

The final stage of the tournament began in Cape Town on December 8 and will run until December 11, featuring the world’s top grandmasters. The total prize fund is $660,000.

Sindarov impressed on the opening day with wins over Magnus Carlsen, Fabiano Caruana, Parham Maghsoodloo and Hans Moke Niemann, propelling him into sole leadership.

In the seventh round, he drew with Levon Aronian...

The United States will allow Nvidia’s H200 AI chips, its second most advanced processors, to be exported to China with a 25% fee, President Donald Trump announced on Monday.

The move aims to balance national security with maintaining US leadership in AI technology. It is unclear whether the decision will increase sales, as China has instructed companies to avoid US technology. Nvidia shares rose 2% in after-hours trading following the announcement.

Trump said he had informed President Xi Jinping of the decision, which received a positive response. The Commerce Department is finalising details, and similar rules will apply to...

Two men have been taken into custody in the United States on suspicion of smuggling Nvidia’s H100 and H200 chips to China, the Justice Department announced on Monday. The charges emerged on the same day President Donald Trump authorised Nvidia to resume exports of its H200 chips to Beijing.

Prosecutors say Fanyue Gong, a 43-year-old Chinese national based in New York, and Benlin Yuan, a 58-year-old Canadian citizen originally from China, each worked with employees of a Hong Kong logistics firm and a China-based AI company to sidestep US export restrictions. Court documents state that Gong and his...

Uzbekistan’s deputy prime minister Jamshid Khodjaev has said he expects South Korean businesses to take an active role in major development projects across the country, including the new international airport and key rail links, according to comments reported by Yonhap.

During his visit to South Korea, Khodjaev said he hoped to see cooperation broaden in areas such as supply chains, renewable energy, infrastructure and transport as well as information technology.

He noted that more than 680 joint Uzbekistan–Korea enterprises are currently operating in the republic. Khodjaev added that thanks to ongoing reforms the Uzbek economy has doubled in size...

FIA president Mohammed Ben Sulayem has arrived in Tashkent ahead of the FIA General Assembly and the annual FIA Awards, which the Uzbek capital is hosting this week.

He was welcomed by representatives of the Ministry of Sport, the National Olympic Committee and the national motorsport and karting federation. During his visit to the ministry he met participants of the Girls on Track initiative and expressed support for their work.

Officials also held a bilateral meeting to discuss preparations for the upcoming FIA events and ways to deepen cooperation between Uzbekistan and the federation.

The Ministry of Sport...

President Shavkat Mirziyoyev has pardoned 615 inmates ahead of Uzbekistan’s Constitution Day, marking the 33rd anniversary of the nation’s founding legal document, UzA reported.

The decree, issued under Article 109 of the Constitution, applies to prisoners who «sincerely repented and firmly embarked on the path of correction.» Of those pardoned, 220 individuals were fully released, 123 received parole, and 97 had their sentences reduced to lighter penalties. Prison terms for 175 others were shortened.

The pardoned group includes 9 foreign nationals, 29 women, 23 men over 60, 264 young people under 30 (including two minors), and 9 individuals...

Uzbekistan and Kazakhstan have agreed to strengthen railway cooperation to accelerate the movement of grain and food products, marking a significant step toward improving regional trade logistics.

During a meeting at the Saryagash rail junction, transport and agriculture officials from both countries approved new measures to boost cargo capacity. Under the agreement, daily rail exchanges will increase to 35 train pairs, with Uzbekistan set to receive at least 10 grain trains and 5 food cargo trains each day, The Caspian Post reported via Uzbek media.

To ensure uninterrupted deliveries, the two sides will maintain round-the-clock operations, including on...

Uzbekistan has received a $140,000 grant to advance archaeological excavations at the Chinortepa site in the Surkhandarya region, following its admission to the Council of the Asian Alliance for Cultural Heritage.

The announcement was made at the Alliance’s II General Assembly and III Council Meeting in Chongqing, China, attended by representatives from 33 countries and international organizations, The Caspian Post reported via Uzbek media.

Bahodir Abdikarimov, Director of Uzbekistan’s Cultural Heritage Agency, led the national delegation and stressed the need to protect cultural heritage amid rapid urbanisation and environmental pressures. Preserving historical sites, he said, is a responsibility...

Uzbekistan and China are exploring new opportunities to deepen humanitarian cooperation as part of their growing strategic partnership. Saida Mirziyoyeva, Head of the Administration of the President of Uzbekistan, met with Long Yuxiang, Chairman of the China International Cultural Communication Center, UzA reported.

Both sides discussed ways to further strengthen the «all-weather» partnership between the two countries, noting the Center’s key role in promoting joint initiatives across multiple sectors. Talks focused on expanding cooperation in education, science, culture and tourism, with an emphasis on creating more exchanges and collaborative projects.

The two officials also underscored the importance of...

Uzbekistan has taken a major step toward becoming Central Asia’s fintech hub after President Shavkat Mirziyoyev signed a sweeping decree on 28 November approving a regulatory sandbox for stablecoin payments, set to launch on 1 January 2026.

The initiative will allow selected companies to test blockchain-based payment tools and tokenized assets, including digital versions of shares and bonds, under relaxed licensing rules. The move is part of a broader five-year strategy (2026–2030) to double the number of fintech firms operating in the country from 103 to 200.

To support this expansion, the Central Bank will create a...

Direct flights between Uzbekistan and India’s coastal state of Goa have officially resumed, marking a significant boost to the region’s global travel links. The first reinstated flight, an Airbus A320 from Tashkent, landed at Goa’s Manohar International Airport on 3 December with 121 passengers on board.

Goa’s Minister for Tourism, Rohan A. Khaunte, said the renewed route enhances Goa’s international connectivity and supports efforts to expand into new global markets.

«This link opens fresh opportunities for travel and engagement between our destinations,» he said.

Tourism Director Kedar Naik added that the restored...

Uzbekistan has hosted the Art and Culture Days of Azerbaijan at Fergana State University, an event organised by the Heydar Aliyev Culture Center under the Azerbaijani Embassy in Tashkent, UzA reported.

The programme featured a presentation of Jonimga jo – Ozarbayjonim (My Dear Azerbaijan) by renowned Azerbaijani poet Bakhtiyar Vahabzadeh. A delegation led by Akif Marifli, Director of the Azerbaijan Cultural Center, joined university professors and lecturers to celebrate the poet’s legacy and the long-standing cultural ties between Azerbaijan and Uzbekistan.

Students welcomed guests with performances of Azerbaijani songs, while an exhibition of paintings and applied arts showcased...

Uzbekistan’s state energy company Uzbekneftegaz has signed a major long-term cooperation agreement with U.S. agribusiness giant Cargill, aimed at bolstering the country’s energy security and accelerating sustainable development.

The deal, signed through Uzbekneftegaz’s international subsidiary UNG Overseas, provides for up to $3 bn in long-term financing, with the possibility of expanding the total to $5 bn. Funding will support projects that enhance the reliability, efficiency and ecological sustainability of Uzbekistan’s energy and water systems.

The partnership is designed to help Uzbekistan meet rising energy demand, adapt to climate pressures and modernise key industrial sectors. UNG Overseas will coordinate...

Uzbekistan and Greece are positioning 2026 as a breakthrough year for bilateral trade, with officials from both countries highlighting untapped economic opportunities.

During a meeting in Athens, Uzbek Ambassador Abat Faizullaev and Stavros Kafounis, president of the Hellenic Confederation of Commerce and Entrepreneurship (ESEE), stressed that cooperation between the two economies is poised for growth, The Caspian Post reported via Uzbek media.

The talks came as Uzbekistan continues deepening ties with the EU and U.S., supported by planned investments and the opening of a new Greek embassy in Tashkent. Faizullaev called on ESEE to help build stronger communication...

Uzbekistan’s external debt reached $43.97 bn as of October 1, according to new data from the Ministry of Economy and Finance, marking a quarterly increase of $473 mln. Although borrowing has slowed compared with previous periods, the government continues to depend heavily on foreign financing to support public spending and major infrastructure projects.

The World Bank remains Uzbekistan’s largest creditor with $8 bn in outstanding loans, followed by the Asian Development Bank at $7.5 bn. International investors hold $5.8 bn in Eurobonds, while loans from Chinese and Japanese financial institutions amount to $3.7 bn and $3.1 bn, respectively.