News

Condor Energies Inc. of Canada will expand its oil and gas development in Uzbekistan after launching a brokered private placement of convertible debentures worth up to $10 mln, the company announced.

The new financing will accelerate Condor’s drilling program and support production growth across its project portfolio in Uzbekistan. Funds will be used to mobilise a second drilling rig for the company’s 12-well program planned for 2026, as well as to build in-field compression facilities aimed at boosting output and cash flow.

Condor plans to operate two drilling rigs throughout 2026, along with a dedicated workover...

Hyundai Rotem has shipped its first batch of high-speed trains to Uzbekistan, completing production earlier than planned, the company announced Wednesday.

A send-off ceremony was held in Changwon with officials from South Korea and Uzbekistan, including Uzbek Deputy Prime Minister Jamshid Khodjaev. The shipment includes six high-speed trains, a total of 42 cars, designed specifically for Uzbekistan’s long-distance routes and harsh desert climate.

The trains are based on the EMU-260 model, which has been in commercial service since 2021. Once deployed, they will operate across a 1,286-kilometer network in Uzbekistan.

Hyundai Rotem won the contract from Uzbekistan Railways...

Former World Cup champion Fabio Cannavaro says Uzbekistan’s national football team has the mentality and fighting spirit to surprise at the 2026 World Cup, describing Uzbek players as «tough, never give up» and difficult opponents for any team.

Speaking to The Guardian, Cannavaro, who was appointed head coach after Uzbekistan’s historic first-ever World Cup qualification, said he accepted the job because of the country’s ambitious football development and strong youth system.

Cannavaro and his staff spent 40 days in Uzbekistan watching league matches and visiting clubs.

«They appreciated that we watched one or two games...

Chelsea winger Alejandro Garnacho was dropped to the bench for the club’s Champions League clash against Atalanta after sparking backlash with remarks made in a pre-match press conference.

The 21-year-old angered Italian fans and media on Monday when he admitted he had not watched Atalanta «in over a year,» adding:

«The last time I saw Atalanta was two years ago, in the Europa League final they won.»

Italian outlets accused him of «snobbery,» and supporters blasted the comment online.

Garnacho began the match at the New Balance Arena among the substitutes, a decision...

Microsoft announced on Tuesday its largest-ever Asia investment, a $17.5 bn commitment to India over the next four years, aimed at accelerating the country’s cloud and artificial intelligence capabilities.

The announcement came after CEO Satya Nadella met with Prime Minister Narendra Modi in New Delhi. In a post on X, Nadella said the investment would help India develop the «infrastructure, skills and sovereign capabilities» needed to shape its AI future.

The move underscores intensifying global competition among tech giants to deepen their footprint in India, one of the world’s fastest-growing digital economies. It follows Google’s October pledge to...

Uzbekistan’s Competition Committee has approved Yandex Uzbekistan’s acquisition of the Allplay streaming service. The regulator agreed to the deal on the condition that Allplay keeps its independence and continues to operate as a standalone platform.

Allplay will continue to grow its offer with plans to expand its catalogue of films, series and music. The platform aims to increase both international and Uzbek content available to users.

In the future Allplay is expected to become part of the Yandex Plus subscription. This will give subscribers access to video, music, books, sports broadcasts and wider ecosystem bonuses such as cashback...

Centrum Air has agreed a lease deal for two new Airbus A321neo aircraft with AerCap, the world’s largest aircraft leasing company, according to the airline’s press service.

The aircraft are scheduled for delivery in the fourth quarter of 2027. AerCap’s chief commercial officer Peter Anderson noted that Centrum Air is the company’s first client from Uzbekistan.

Abdulaziz Abdurakhmanov, chairman and CEO of Centrum Holding, said the addition of the A321neo will support the airline’s international ambitions.

«The increased efficiency and extended range of the A321neo will allow us to offer passengers more comfort and new destinations...

Nicole Kidman’s reported separation from husband Keith Urban has fuelled fresh speculation about her long-standing friendship with Russell Crowe, after tabloid outlets claimed the pair have been speaking on the phone daily. According to those reports, the increased communication has reportedly left Crowe’s girlfriend feeling «blindsided.»

Sources quoted by entertainment media say Kidman has been leaning on Crowe for emotional support during a difficult period, though insiders insist the calls are strictly platonic. Neither Kidman nor Crowe has publicly commented.

Crowe’s girlfriend was allegedly surprised by the «intimacy» of their day-to-day conversations, though people close to the actor...

China has executed Bai Tianhui, a former top executive at China Huarong International Holdings, after he was convicted of accepting 1.1 bn yuan (£116 mln) in bribes, one of the largest corruption cases seen under President Xi Jinping’s sweeping anti-graft campaign.

Bai, who served as general manager of the state-owned offshore investment arm between 2014 and 2018, was executed on Tuesday in Tianjin, officials confirmed. Prosecutors said he exploited his position to take an «extremely large» amount of bribes, with the court ruling that the scale and severity of his crimes had caused «particularly serious» social harm.

The...

The Bank of England expects Finance Minister Rachel Reeves’ latest budget to reduce the UK’s annual inflation rate by 0.4 to 0.5 percentage points from the middle of next year, Deputy Governor Clare Lombardelli told lawmakers on Tuesday.

Speaking before parliament’s Treasury Committee, Lombardelli cited preliminary BoE analysis showing the disinflationary effect would last for about a year beginning in the second quarter of 2026.

Her comments align closely with earlier projections from the Office for Budget Responsibility, which estimated Reeves’ fiscal measures would lower inflation by 0.4 percentage points during the 2026/27 financial year.

The update comes...

President Shavkat Mirziyoyev met the delegation from the International Automobile Federation (FIA) on December 9 as Uzbekistan signalled its ambition to become a future host for Formula 1. The delegation was led by FIA president Mohammed Ben Sulayem, who arrived in Tashkent for the organisation’s General Assembly.

The group also included FIA Senate president Carmelo Sanz de Barros and Tim Sharman, the federation’s deputy president for mobility and tourism. The talks focused on strengthening cooperation with the global body that governs motorsport and promotes road safety worldwide.

Ben Sulayem praised the wide-ranging reforms under way in Uzbekistan...

Uzbekistan and the Vatican have taken another step toward deepening diplomatic cooperation as Pope Leo XIV formally accepted the credentials of Uzbekistan’s new ambassador, Abat Fayzullaev, on 6 December 2025. The ceremony, held in the ornate Sala Clementina of the Apostolic Palace, marked a milestone in Tashkent’s growing engagement with the Holy See.

Addressing thirteen newly accredited ambassadors, Pope Leo XIV underscored the Vatican’s commitment to diplomacy, dialogue, and global peace, principles he said must be actively pursued rather than passively hoped for.

«Peace is not merely the absence of conflict, but an...

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...