News

Uzbekneftegaz JSC held talks with a McKinsey & Company delegation led by senior partner Yermolai Solzhenitsyn to review market trends and advance plans to strengthen Uzbekistan’s energy system, the company said.

The sides discussed global and regional energy dynamics, measures to improve efficiency and resilience, and the rollout of innovative technologies and management practices amid the shift to a low-carbon economy. Uzbekneftegaz noted that working with leading international experts helps reinforce corporate governance, institutional resilience and the firm’s strategic capabilities.

McKinsey, which operates in more than 150 offices across 66 countries, has advised governments and corporations for decades and...

The World Bank’s Board of Executive Directors has approved an $800 mln financial package in highly concessional loans to help advance Uzbekistan’s ongoing structural reforms. The initiative seeks to drive poverty reduction, job creation, private sector growth, and greater competition in key sectors of the economy.

Through this operation, the World Bank will support a range of government policies designed to lessen the social impact of rising energy tariffs on low-income families, strengthen protection for women against workplace harassment and discrimination, and improve access to social services for vulnerable groups. The measures will also enhance competitiveness across the telecommunications...

Apple CEO Tim Cook received a unique gift during his visit to China — a custom Labubu figurine crafted in his image, according to Rozetked. The present was handed to him by Pop Mart founder Wang Ning and Hong Kong artist Kasing Lung, the creator of the popular Labubu series.

Cook’s trip coincides with the upcoming release of the iPhone Air in China. Pre-orders for the new device will open on October 17, with official sales beginning on October 22.

The model’s entry into the Chinese market had been delayed due to eSIM integration issues, as the iPhone Air...

Incheon International Airport Corporation (IIAC) has announced two landmark agreements in Uzbekistan, The Korea Herald reports.

The company signed a $24.5 mln consulting contract for the New Tashkent International Airport, a large-scale infrastructure project worth $3.3 bn (Uzbekistan reported the cost at $2.7 bn), developed under a public-private partnership led by Saudi investment firm Vision Invest. The future airport forms part of Uzbekistan’s aviation modernisation drive and is set to become a Central Asian air logistics hub, capable of handling up to 54 mln passengers annually (Uzbekistan’s estimations were at 20 mln).

Over the next five years, Incheon...

A 41-foot sailing vessel carrying 13 undocumented migrants was intercepted on October 12 near Combate Beach in Cabo Rojo, Puerto Rico, by Air and Marine Operations (AMO) — a division of US Customs and Border Protection (CBP).

The operation began when an AMO surveillance team identified the vessel approaching Puerto Rico’s western coast. With the support of the US Coast Guard and the Puerto Rico Police Fuerzas Unidas de Rápida Acción (FURA) unit, authorities halted the boat near the shoreline and escorted it to the Michel O. Maceda Marine Unit for inspection.

Migrants‘ Nationalities

During the inspection, Marine...

A public-private partnership (PPP) agreement for the modernisation and management of Urgench International Airport was signed in Tashkent on October 15, 2025 between Uzbekistan Airports, Urgench International Airport, and Incheon International Airport Corporation of South Korea. The deal follows an international tender launched last year.

The signing ceremony was attended by Javlonbek Umarhodjaev, Chair of the Board of Uzbekistan Airports, Lee Hak Jae, President of Incheon International Airport Corporation, and Oybek Matkarimov, Director of Urgench International Airport. Event was chaired by Uzbekistan’s Minister of Transport Ilkhom Makhkamov.

«Cooperation with Incheon International Airport Corporation opens a...

The head of Kazakhstan’s Cement and Concrete Producers Association QazCem, Erbol Akimbayev, has claimed that Uzbekistan’s Cabinet of Ministers issued a confidential order in July that disrupted cement exports to the country. Speaking to Forbes Kazakhstan, he said the regulation had severely impacted bilateral trade.

According to Akimbayev, the alleged document stipulates that cement imported from Kazakhstan cannot be priced below $300 per tonne, despite Kazakh producers typically selling at around $30. He explained that the order forces exporters to declare their cement at $300 and pay taxes accordingly, making exports unprofitable.

«As a result...

President Shavkat Mirziyoyev has officially launched the construction of a new international airport in Tashkent, which is expected to become the largest aviation hub in Central Asia.

The new facility will be located across the Urtachirchik and Kuyichirchik districts, covering an area of 1,300 hectares. The project is being implemented in partnership with a consortium comprising Vision Invest (Saudi Arabia), Sojitz Corporation (Japan) and Incheon International Airport Corporation (South Korea).

During the first phase, worth $2.5 bn, a passenger terminal and airfield will be built. Once completed, the airport will handle up to 20 mln passengers a year and...

Uzbekistan is on track to be one of the region’s five fastest-growing economies next year, with GDP projected at 6.2% in 2025, according to the World Bank’s Fall 2025 Europe & Central Asia update. That far outpaces the regional average of 2.4% (down from 3.7% in 2024). Central Asia remains the growth leader at about 5.9%, with Tajikistan (7%), Kyrgyzstan (6.8%) and Kazakhstan (5.5%) also strong.

Growth in Uzbekistan is fueled by rising remittances and investment. Transfers jumped 27% year on year in H1 2025 to $8.2 bn, while FDI hit ~$10 bn in 2024, a record. Reforms since...

Krispy Kreme will debut in Uzbekistan this October with a shop in Tashkent under a franchise deal with Food Town Logistics-Group LLC. The partner plans to expand fast with more than 70 shops over the next five years.

The move is part of Krispy Kreme’s global growth. The brand also opened in Spain this month and is adding new sites in Brazil. CEO Josh Charlesworth said the company aims to bring its fresh doughnuts to more people in more places while growing through local partners.

During a visit to the United Kingdom, Saida Mirziyoyeva met with participants of the roundtable «New Uzbekistan — a Big Country with Big Opportunities,» discussing ongoing economic reforms and the country’s accession to the World Trade Organization (WTO).

Uzbekistan is attracting an expanding pool of British investors, with more than 270 UK companies now operating in the country. The UK government signalled full support for Uzbekistan’s reform agenda and WTO bid.

«I’m pleased to see rising interest from our British partners and am confident their participation in our economy will continue to grow...

The value of joint projects between Uzbekistan and Saudi Arabia has reached $27 bn, according to figures announced during President Shavkat Mirziyoyev’s meeting with Saudi Investment Minister Khalid Al-Falih.

Both sides discussed expanding cooperation across several key sectors, including green energy, agriculture, electrical engineering and regional infrastructure. President Mirziyoyev also held talks with executives from leading Saudi companies to explore new investment opportunities.

The meeting placed particular emphasis on information technology and artificial intelligence. Saudi firm Data Volt is currently constructing a state-of-the-art data centre in Tashkent, with plans to build similar facilities in New Tashkent and Bukhara.

On 13 November 2025, the U-Enter venue in Tashkent will host the international conference «KEY TECH: AI in Retail & E-commerce»—a key event on the future of retail and e-commerce in the era of artificial intelligence and digital transformation.

The event focuses on digital technologies and the practical adoption of AI: participants will discuss how to stay competitive by leveraging modern solutions and innovative approaches.

Globally, AI is becoming a major growth driver for commerce: the impact on retail and FMCG is estimated at $400–660 bn per year, and the global «AI in Retail» market could reach $160–165 billion by...

Slovakia is considering simplifying the process for issuing national visas to citizens of Uzbekistan, Dunyo reports. The proposal was discussed during the first meeting of consular representatives from both countries in Bratislava.

If approved, the new initiative would reduce the processing period for Uzbek visa applications from three months to just one. The diplomats also exchanged views on labour migration and the sharing of consular information.

As part of the talks, Slovakia expressed plans to attract Uzbek workers to a Volvo manufacturing plant in the country and to organise language training courses to support their integration. The Slovak Migration...

Uzbekistan has «significant potential» to grow digital payments, with cashless transactions now about 43% of total payments (38% in 2023; 41% in 2024), Mastercard General Manager Denis Filippov told Trend in an exclusive interview.

Filippov said a young population (average age 29), high mobile and internet penetration, and a fast-developing fintech sector position the country for a mature digital economy. Mastercard is backing the shift with new card services and financial-literacy programs, over 1,400 entrepreneurs trained via its e-commerce school, and free online courses on card use and cybersecurity.

He flagged challenges of cybersecurity, financial literacy and infrastructure, noting...

Chinese State Councilor Shen Yiqin met separately with Bulgarian Vice President Iliana Iotova, Iranian Vice President Zahra Behrouz Azar, and Uzbek Deputy Prime Minister Zulaykho Makhkamova on the sidelines of the Global Leaders’ Meeting on Women.

Shen, who also heads the All-China Women’s Federation, said China aims to deepen cooperation with Bulgaria in culture, education and women’s development; strengthen coordination with Iran under the guidance of both countries’ leaders; and work with Uzbekistan to implement presidential-level consensus and advance women’s initiatives.

Iotova highlighted the meeting’s significance and vowed to promote practical cooperation on women’s rights. Behrouz Azar praised China-Iran...

Gold prices surged past $4,200 an ounce for the first time on Wednesday, extending a powerful rally driven by expectations of US interest rate cuts and mounting geopolitical tension that has boosted demand for the safe-haven asset.

Spot gold climbed 1.6% to $4,209.49 per ounce as of 08:29 GMT, after hitting a record $4,217.95 earlier in the session. December futures in the United States rose 1.5% to $4,227.60. The metal has gained nearly 60% so far this year, propelled by economic instability, central bank buying, a weakening dollar, and strong inflows into gold-backed exchange-traded funds.

Just yesterday, on October...

Worldwide sales of fully electric and plug-in hybrid vehicles rose by 26% in September compared with the previous year, reaching a record 2.1 mln units, Reuters reports. The growth was fuelled by strong demand in China and a last-minute rush in the United States to take advantage of tax credits before their expiry.

China remained the dominant market, accounting for roughly two-thirds of global EV sales with about 1.3 mln units sold. North America also saw record figures, with sales climbing 66% to around 215,000 vehicles.

In Europe, sales grew by 36% to 427,541 units, while in other regions...

The Final Draw for the 2026 FIFA World Cup will take place on Friday, 5 December 2025 at 17:00 GMT (12:00 ET) at the John F. Kennedy Center for the Performing Arts in Washington, D.C., FIFA confirmed, with the venue also announced by the Kennedy Center.

The tournament, co-hosted by the United States, Canada and Mexico, runs 11 June to 19 July 2026, featuring an expanded 48-team format: 12 groups of four, with the top two and the eight best third-placed teams advancing to a Round of 32. The opening match is slated for Estadio Azteca, Mexico City...

The Giorgio Armani Foundation, a central pillar of the late designer’s succession and long-term business plan, will now be chaired by Armani’s long-time partner and trusted confidant Pantaleo Dell’Orco, according to Reuters.

Dell’Orco, who inherited the largest share of the company and the main voting rights following Armani’s death last month, will lead the board alongside one of Armani’s nephews and three independent members. The foundation, created in 2016 to safeguard Armani’s legacy, now plays a decisive role in shaping the brand’s future ownership and management.

Armani’s Will

Giorgio Armani, known as «King Giorgio,» passed away on...

Asian Development Bank (ADB) has approved a $500 mln policy-based loan to support Uzbekistan’s ongoing economic transformation, focusing on improving public sector efficiency, strengthening governance, and deepening the country’s integration into the global economy.

The initiative, known as the Economic Management Improvement Program (Phase 2), builds on previous reform efforts and introduces a new wave of institutional measures designed to enhance fiscal transparency, modernise the management of state-owned enterprises (SOEs), and create a more competitive and resilient business environment. The programme aligns with international standards and underscores Uzbekistan’s determination to advance its market-oriented reforms.

«This...

Uzbekistan is increasingly viewed as a new source of capital market activity in Central Asia, Bloomberg reports, citing Alan Siow, co-head of emerging market corporate debt at Ninety One.

According to the publication, a forthcoming wave of initial public offerings (IPOs), largely driven by the privatisation of state-owned companies, is expected to attract a broad range of international investors. Giovanni Salvetti, head of the CIS region at Rothschild & Co, said investors from Gulf countries and China have already expressed strong interest in the process.

In addition, major global financial institutions, including Barclays and Citibank, are reportedly organising investment...

The Taliban’s Ministry of Higher Education has prohibited 679 scientific and educational books from use in Afghanistan’s public and private universities, following a review by religious scholars and academics.

According to a letter seen by Afghanistan International, Ziaur Rahman Al-Aryubi, the Deputy Minister of Science, stated on September 24 that a committee of Islamic scholars and professors had examined the books for «belief, intellectual, religious, political, cultural, and scientific content.»

Following this assessment, the ministry circulated a list of the banned titles to universities nationwide, instructing them to replace the materials with alternatives that align with Islamic values and...

President Shavkat Mirziyoyev has called for wider promotion of prenuptial agreements to prevent families, particularly children, from falling into financial hardship following divorce. He made the remarks during a meeting held on October 14.

The discussion addressed several pressing social issues affecting local communities and youth upbringing. Since the start of the year, around 32,000 families in Uzbekistan have divorced, while 16,000 parents have failed to pay child support. There have also been cases where fathers have abandoned their families with outstanding credit debts.

Mirziyoyev stressed that local authorities, including hokims (city and regional mayors), community councils, elders...