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On December 15, President Shavkat Mirziyoyev held a meeting on developing Uzbekistan’s capital market. Participants discussed dual listing, currency bonds on the Tashkent Stock Exchange, a regulatory sandbox for residents and simplified conditions for foreign investors. The goal is to attract $1 bn into the country’s economy.

Market Exists but Liquidity Is Limited

The capital market’s share of the economy remains small, at around 20% of GDP. The total value of issued securities is 275 trln soums ($22.73 bn), but only 4 trln soums ($330 mln) are actively traded on the exchange. There is significant potential for growth.

Inflation in Uzbekistan is driven almost equally by demand and supply factors. According to the Central Bank, demand accounts for 49% of price growth, while supply explains 51%. At the same time, the dominant drivers have changed from year to year, ranging from the pandemic to tariff increases.

During the pandemic, inflation was mainly driven by supply-side factors. Disruptions to supply chains and production stoppages pushed food prices higher. The sharpest increases were recorded for grain, flour, meat and dairy products.

After restrictions were lifted, consumer spending increased. Government expenditure and household incomes also rose. As a result, inflation...

The World Bank’s Board of Executive Directors has approved a $100 mln loan and a $5 mln grant for Uzbekistan. The funding will support the Access to Finance for Jobs and Growth Project, known as FINGROW. The programme aims to expand access to credit and private equity for micro, small and medium enterprises.

MSMEs account for more than 90% of businesses in Uzbekistan. They employ around 75% of the workforce and generate about 55% of GDP. Despite recent growth in lending, many firms still struggle to access capital. This limits business expansion, economic contribution and job creation.

Gaps...

Oscar-winning actress Angelina Jolie has spoken publicly for the first time about revealing the scars from her preventative double mastectomy, 15 years after undergoing the life-saving procedure.

In a new interview with TIME France, the 50-year-old said she chose to share her scars to stand in solidarity with other women and to raise awareness about breast cancer prevention. «I share these scars with many women I love,» Jolie said, adding that access to information and screening is essential for informed healthcare choices.

Jolie underwent the surgery in 2013 after learning she carries a BRCA1 gene mutation, which gave...

Former colleagues of jailed Hong Kong media tycoon Jimmy Lai have reacted with dismay to his national security conviction, warning that Lai and other former Apple Daily staff could face lengthy prison sentences while saying he remains a source of inspiration.

Lai was found guilty of conspiring to collude with foreign forces and of sedition, more than four years after police raided the newsroom of Apple Daily, the outspoken pro-democracy newspaper he founded. The crackdown led to the paper’s closure and marked a turning point for Hong Kong’s media landscape.

«Although the verdict was...

England supporters have expressed disbelief after FIFA allocated fewer tickets for the Three Lions’ opening World Cup match than for Curacao, the smallest nation ever to qualify for the tournament.

For England’s Group L opener against Croatia in Dallas on June 17, just 4,022 tickets have been made available to supporters — an allocation matched only by Croatia. The figure has raised eyebrows given the scale of England’s travelling fanbase, with hundreds of thousands expected to head to the United States, Canada and Mexico next summer.

By contrast, Curacao, a Dutch Caribbean island with a population of around...

A violent attack took place at Uspensky secondary school in the Gorki-2 settlement near Moscow. A ninth-grade student entered the school with a knife and attacked other pupils.

A fourth-grade pupil, identified as Kobiljon A., was killed. He died before emergency services arrived. At least two other people were injured.

At the school entrance, the attacker used pepper spray against a security guard. The guard, a 32-year-old man named Dmitry Pavlov, was injured and taken to hospital.

According to the Telegram channel 112, the suspect is a 15-year-old ninth-grade student named Timofey K. Reports say he entered the school...

On December 15, Uzbekistan’s ambassador to the Vatican, Farrukh Tursunov, presented his credentials to Pope Leo XIV, the news agency Dunyо reports.

Tursunov also oversees Uzbekistan’s embassies in Spain and Andorra. He has worked in the Ministry of Foreign Affairs since the early 1990s, holding roles from attaché to department director. He previously led diplomatic missions in Kazakhstan (2008–2012) and Japan (2012–2017).

During the meeting, the ambassador briefed the Pope on Uzbekistan’s reforms. On behalf of President Shavkat Mirziyoyev, he conveyed greetings and best wishes to the pontiff.

Pope Leo XIV expressed deep respect for the president and the...

Gary Neville and Jamie Carragher praised Manchester United’s performance after a chaotic 3–3 draw with Bournemouth at Old Trafford, despite the Red Devils once again dropping points at home.

United twice took the lead and appeared to have won the match late on, only for Bournemouth to equalise in the closing stages. Speaking on Sky Sports, Neville described the contest as «absolute madness» and said he could accept United’s approach, while noting they have now dropped seven points from their last three home games.

Carragher went further, calling it the best Premier League game of the season so...

Russian marketplace Wildberries has launched its WB Taxi service in Tashkent. The ride-hailing app is available for Android and iOS smartphones.

New users can register via a personal referral link from existing clients or apply directly through the app. According to Spot, the service offers four fare options: Standard, Comfort, Comfort Plus and Multi. Card payments will receive 50% cashback.

Initially, WB Taxi will operate as a «closed club» to ensure a smooth launch and a comfortable experience for passengers.

«Starting as a closed club allows us to focus fully on developing...

Most high-liquidity shares on the Tashkent Republican Stock Exchange (UZSE) rose between December 5 and 12. Over this period, the UCI index increased by 2.31%.

Garant Bank shares recorded the largest gain, rising 20.08%. Trustbank shares rose 12.57%, and the Uzbek Republican Commodity and Raw Materials Exchange (UzEx) gained 5.42%.

Uztelecom shares fell 12.97%, marking the biggest decline of the week. Shares of the Business Development Bank dropped 10.23%, and Hamkorbank fell 4.21%. Only Aloqabank and Dori-Darmon shares remained unchanged.

In terms of transaction volume, UzEx led with 557 deals, followed by Hamkorbank with 436 and Uzmetkombinat with 362.

Saida Mirziyoyeva, head of Uzbekistan’s presidential administration, held a meeting with officials responsible for protecting the rights of women and children. She urged authorities to move beyond words and take real action.

Uzbekistan was the first Central Asian country to adopt a law against domestic violence. The country has also increased penalties for sexual crimes against children.

«But we cannot stop here. We need an effective system to respond quickly to cases of violence,» she said.

Mirziyoyeva also highlighted that the true extent of violence is often hidden.

«Often...

The World Bank has approved a $250 mln financing package for Uzbekistan. The funds will be used to modernise infrastructure and services in 16 cities and districts. The programme is expected to improve living standards for about 1 mln people.

The project is part of the Livable and Productive Cities Program (LPCP). It aims to support urban development amid rapid population growth. Currently, more than half of Uzbekistan’s population lives in cities. By 2050, this share could exceed 60%.

Funding will be allocated to upgrade roads, water supply and sewage systems, public transport, parks and other public spaces. Social infrastructure...

A FIFA regional office will be set up at the Uzbekistan Football Association headquarters. The office will be provided free of charge, according to a presidential decree by Shavkat Mirziyoyev. This is part of preparations for the 2027 FIFA Under-20 World Cup.

FIFA will cover part of the costs for running the office and organising the tournament. Any remaining funds will come from Uzbekistan’s Football Support Fund. However, this contribution cannot exceed 50% of total expenses.

An organising committee will be created to manage the event. Prime Minister Abdulla Aripov will chair the committee. It will coordinate tournament preparations, build...

Relatives and former classmates of Mukhammadaziz Umurzokov have shared new details about his life and ambitions with the New York Times. The 18-year-old Brown University student was killed in last weekend’s campus shooting in Providence, as the investigation continues.

Umurzokov, 18, was known among friends and family as a high-achieving student who regularly helped classmates with homework and exam preparation, according to his two sisters and a former schoolmate.

His sisters, Rukhsora Umurzokova, 22, and Samira Umurzokova, 15, said the family received formal confirmation from the university that he was among those killed during a study session on...

The Australian premiere of Avatar: Fire and Ash in Sydney has been cancelled following a deadly mass shooting at Bondi Beach.

The event, scheduled for Monday and set to include director James Cameron and actor Sam Worthington, was called off as a mark of respect for the victims. Organisers said the decision was made «out of deep respect for the victims of the Bondi shooting» and in solidarity with the local community.

The attack took place on Sunday night during a Hanukkah celebration at Bondi Beach, leaving at least 15 people dead and dozens injured. Prime Minister Anthony Albanese described...

Communities in South Sudan are battling climate-driven flooding for the sixth year in a row by expanding hand-built islands made of mud and papyrus along the Nile.

In the Akuak community, about 2,000 people spend hours each day reinforcing their islands to keep rising water from destroying their homes.

«We have no choice; we need to protect our homes,» said Ayen Deng Duot, a mother of six working waist-deep in floodwater.

South Sudan is among the countries most vulnerable to climate change. The UN says more than 375,000 people were displaced by...

Amazon and Microsoft announced major new investments in India, committing a combined total of more than $52bn as they race to shape the country’s artificial intelligence and cloud ecosystem.

Amazon said it will invest over $35bn in its Indian operations by 2030, underlining its long-term bet on the fast-growing market. The company said the funds will support cloud infrastructure, AI-driven tools for small businesses and export growth, with Amazon projecting the creation of nearly 3.8 mln jobs. The investment adds to roughly $40bn the group has already spent in India since 2010.

Microsoft, meanwhile, pledged $17.5bn over four...

Former unified heavyweight champion Anthony Joshua will fight YouTuber-turned-boxer Jake Paul on December 19 in Miami, in a professional bout streamed live on Netflix. The contest will take place at the Kaseya Center and is scheduled for eight three-minute rounds with 10oz gloves, with knockouts permitted.

The fight has sparked controversy within the boxing world, with critics questioning its legitimacy and the large gap in experience and weight between the fighters. Former world champion Deontay Wilder suggested the bout could be scripted, claims firmly denied by Joshua and his promoter Eddie Hearn, who called the accusations illegal and...

Mary Magdalene, a social media influencer and OnlyFans model known for extreme cosmetic procedures, has died at the age of 33 after falling from a high-rise building in Phuket, Thailand, local police said.

The incident occurred on 9 December in the Patong area, where Magdalene, whose real name was Denise Ivonne Jarvis Gongora, had checked into an apartment for a one-night stay. Her body was found in the building’s parking area shortly after her arrival. Police said initial findings suggest she fell from the ninth floor and that she was alone at the time. An investigation is ongoing.

Rob Reiner’s real-life love story with his wife Michele Singer famously reshaped the ending of When Harry Met Sally, turning the film into one of Hollywood’s most enduring romantic comedies. Decades later, that same partnership is now at the centre of a major police investigation in Los Angeles.

Reiner previously said the film was originally written with Harry and Sally parting ways. That changed after he met Michele, who was invited to the set by the film’s director of photography.

«Originally, Harry and Sally didn’t get together. But then I met Michele and...

Uzbekistan is accelerating the development of specialised industrial zones as part of its strategy to attract international capital and strengthen its role as a regional logistics hub, officials said on Monday.

One of the flagship projects is Yangi Avlod, an industrial zone established a year ago, which has already drawn investors from China and the UAE. Global logistics operator DP World is also developing a multimodal transport hub in the country, aimed at improving supply chains across Central Asia.

The Yangi Avlod zone offers investors tax exemptions, customs benefits and long-term land leases, alongside fully developed infrastructure including...

A recent report reveals that U.S. military equipment left behind after the 2021 withdrawal from Afghanistan is now fuelling armed movements in neighbouring Pakistan. According to Afghan and watchdog sources, billions of dollars’ worth of weapons and gear abandoned by U.S. and allied forces have either been lost, sold or smuggled into illicit markets, leaving their final destinations unaccounted for.

Taliban officials recently admitted that at least half of the stockpile in Afghanistan cannot be traced, raising concerns about the spread of these arms. Investigations suggest that militant groups such as the Tehreek-e-Taliban Pakistan (TTP), al-Qaida affiliates and...

Industrial enterprises in Uzbekistan paid a total of $6.31 bn in taxes between January and October 2025, the State Tax Committee reports. During this period, 60,525 manufacturing companies made tax payments, with just 20 of them accounting for $1.31 bn of the total.

Uzbekneftegaz led the list of taxpayers, contributing $248 mln, followed by Uzbat with $198.6 mln and UzAuto Motors with $132.4 mln.

The largest share of budget revenues came from value added tax at $405.3 mln, excise duties at $330.7 mln and corporate profit tax at $182 mln.