News

Dubai is stepping up its bid to become the world’s next crypto capital, leveraging its oil wealth, Islamic finance roots, and tax-free economy to challenge Asia’s dominance in digital assets, particularly that of Hong Kong.

The emirate’s «crypto grand strategy» seeks to merge sovereign investment power with a Sharia-compliant digital economy, positioning Dubai as a global hub for Islamic digital finance, a sector serving nearly one-quarter of the world’s population.

Backed by its vast sovereign wealth funds, Dubai is heavily investing in Web3 infrastructure, supporting blockchain startups, and offering innovation-friendly regulation. Its tax-free real estate market further strengthens its...

Uzbekistan has been identified as one of the countries with the strongest potential for industrial export growth in Eurasia, according to a new report by the Eurasian Development Bank (EDB) titled «Potential for the Development of Advanced Manufacturing Industries in the Eurasian Region.»

Uzbekistan’s Export Growth Potential

EDB experts estimate that the country’s manufacturing exports could expand by around $3.86 bn annually, equivalent to a 26% increase. This would place Uzbekistan among the region’s top three performers alongside Kyrgyzstan and Armenia.

Nestle has withdrawn from a global initiative designed to reduce methane emissions in the dairy sector. This marks another setback for corporate climate alliances as governments and companies reassess their environmental commitments.

The Swiss food giant announced on Wednesday that it had ended its membership in the Dairy Methane Action Alliance, which launched in December 2023 to promote greater transparency and accountability in the dairy industry. The group’s members, including Danone, Kraft Heinz, and Starbucks, had pledged to measure and publicly report methane emissions from their supply chains and outline long-term reduction plans.

Nestle did not explain the reasons...

The United Nations is preparing to withdraw about a quarter of its peacekeeping personnel worldwide in the coming months, Reuters reports. Senior officials confirmed it on Wednesday, as mounting financial pressures and delayed US contributions strain the organisation’s budget.

A senior UN official, speaking on condition of anonymity, said the cuts will affect around 25% of peacekeeping troops and police officers, along with a significant number of civilian staff and their equipment.

«Overall, we will have to repatriate around 13,000 to 14,000 troops and police,» the official stated, describing the move as unavoidable given the...

Uzbekistan’s electrical engineering industry produced goods worth 34 trln soums ($2.8 bn) in the first nine months of 2025, marking a 16.3% increase year on year, President Shavkat Mirziyoyev was told during a presentation on the sector’s development.

Exports and Copper Utilisation

Exports of electrical products reached $970 mln during the period. However, only 60% of domestically produced copper is currently used in manufacturing high value-added electrical goods. To encourage deeper copper processing and support manufacturers, the government plans to introduce raw material discounts, loan compensation schemes, and other financial incentives.

Expansion of Copper Production and New...

Enter Engineering has been selected as the subcontractor for the construction of Uzbekistan’s first nuclear power plant in Jizzakh region, following a competitive tender, Podrobno.uz reports.

Rosatom to oversee safety and coordination

Russia’s state corporation Rosatom will act as the main contractor, overseeing project management and nuclear safety standards. Enter Engineering, one of Uzbekistan’s largest industrial construction firms, will be responsible for the building works. The company has already begun constructing housing for workers on site.

At different stages of the project, up to 20,000 people are expected to be involved in the construction, the majority of whom...

Left-wing political streamer Hasan Piker has come under fire following allegations of mistreating his dog Kaya. The dog is a familiar presence during his broadcasts from his West Hollywood home. Controversy erupted after a clip from his livestream on October 7. The clip appeared to show Piker activating what some viewers claimed was a shock collar on his pet.

Viral clip sparks outrage

Piker, who boasts over three million Twitch followers and millions more across social media, swiftly denied the accusations. He clarified that Kaya wears a vibrating training collar with an attached AirTag, not a shock device...

The World Bank projects a sharp demographic shift across Europe and Central Asia, with Uzbekistan and Tajikistan set to see major workforce expansion by mid-century while the wider region grapples with labour shortages.

In its latest Jobs and Prosperity report, the World Bank forecasts that Uzbekistan’s working-age population will increase by around 10 mln people by 2050, and Tajikistan’s by 3.6 mln. In contrast, other countries across Europe and Central Asia are expected to lose a combined 17 million workers over the same period, a trend that could reshape regional labour markets.

Contrasting demographic trends

The report warns...

Israel and Hamas have agreed to a long-awaited ceasefire and hostage exchange, marking the first stage of U.S. President Donald Trump’s peace framework aimed at ending the devastating Gaza conflict that has claimed more than 67,000 lives and reshaped the Middle East.

The breakthrough came after indirect negotiations in Egypt, just a day after the second anniversary of the Hamas cross-border assault that ignited Israel’s prolonged military campaign. The accord, part of Trump’s 20-point peace plan, is being hailed as the closest step yet to halting the war that has drawn in regional powers including Iran, Yemen and...

U.S. stocks closed higher on Wednesday as tech shares and AI-related companies powered the S&P 500 and Nasdaq to new all-time highs, offsetting investor concerns over the Federal Reserve’s next interest rate move.

The S&P 500 gained 0.58% to close at 6,753.72, while the Nasdaq Composite jumped 1.12% to 23,043.38. The Dow Jones Industrial Average was little changed at 46,601.78.

Chipmakers led the rally, with AMD surging 11.4%, extending its weeklong 43% gain. Dell climbed 9.1% after several analysts raised price targets, and Datadog rose 6.2%. Energy and consumer staples lagged, while gold prices topped $4K per ounce as...

A Wisconsin businessman has been sentenced to one year and one day in federal prison for illegally exporting laboratory equipment to Russian companies in violation of U.S. trade sanctions imposed after Russia’s invasion of Ukraine.

Andrew Pogosyan, 68, a Russian-born U.S. citizen and owner of Omega Diagnostics LLC, pleaded guilty in July to conspiracy to defraud the United States and three counts of smuggling. U.S. District Judge William Conley also fined him $10,000.

According to federal prosecutors, Pogosyan began using his company in late 2022 to ship restricted lab equipment to Russia — including to an entity linked to...

The German government has approved a new law granting federal police the authority to shoot down unauthorized drones, following a surge in drone-related disruptions at airports and growing security concerns across Europe.

The bill, endorsed by the cabinet on Wednesday and awaiting parliamentary approval, allows police to neutralize drones violating airspace through various means, including gunfire, lasers, or signal jamming, in cases posing a serious threat or risk of harm.

«Drone incidents threaten our security. We will not permit that,» Chancellor Friedrich Merz said on social media, noting the move strengthens police powers to detect and counter drones more...

On October 8, Russian President Vladimir Putin arrived in Dushanbe, Tajikistan, for a three-day state visit centered on boosting ties with former Soviet republics and reinforcing Russia’s influence in Central Asia.

During his stay, Putin is set to hold bilateral talks with Tajik President Emomali Rahmon, followed by a Russia–Central Asia summit involving leaders from Kazakhstan, Kyrgyzstan, Turkmenistan, and Uzbekistan. On the final day, heads of Armenia, Azerbaijan, and Belarus will join them in a Commonwealth of Independent States (CIS) meeting.

For Russia, strengthening political, military, and trade relations in the region is becoming more vital amid ongoing...

At the 12th Summit of the Organization of Turkic States in Gabala, Azerbaijan, President Shavkat Mirziyoyev presented a comprehensive vision for the future of Turkic cooperation — emphasizing economic unity, innovation and youth development as key drivers of regional progress.

In his speech, Mirziyoyev congratulated Azerbaijan on its recent peace agreement with Armenia and called it a shared achievement for all Turkic nations. He proposed a Treaty on Strategic Partnership and Brotherhood and a Development Strategy until 2030, aimed at deepening trust and promoting trade, investment, and technological innovation.

Uzbekistan suggested establishing a Permanent Council for Economic Partnership in...

Scientists Susumu Kitagawa, Richard Robson and Omar M. Yaghi have been awarded the 2025 Nobel Prize in Chemistry for developing revolutionary materials known as metal-organic frameworks (MOFs) — molecular structures capable of storing vast amounts of gases and other substances in tiny spaces.

The Nobel Committee described these materials as having «unheard-of properties,» noting that a single sugar cube-sized piece could have the surface area of an entire football field. «It’s almost like Hermione’s handbag in Harry Potter — small in size but capable of holding enormous quantities,» said committee member Olof Ramstrom.

Their invention has major potential...

Kuwait’s national football team wil take on Uzbekistan today at 4 p.m. local time in a friendly match at the Olympic Stadium in Tashkent.

The match is part of Kuwait’s preparations during the international break, ahead of the Arab Cup playoff against Mauritania on November 25. They will then play another friendly in Dubai versus Morocco’s national side.

Head coach Helio Sousa has named a 26-player squad for the training camp, combining fitness and tactical sessions. This will be his second match in charge, following a 2–2 draw with Syria last September.

Uzbekistan, meanwhile, will use the match to...

Cristiano Ronaldo has been honoured by Portugal for his extraordinary two-decade career with the national team, marking over 22 years since his debut. The five-time Ballon d’Or winner received a «Special Recognition» as part of the Portugal Football Globes 2025 awards, celebrating his enduring contribution to the country’s footballing history.

Portugal Honours Its Greatest Player

At the ceremony held on October 7, Ronaldo was presented with the Globe Prestige Award, a distinction reserved for players who have achieved lasting excellence. Now aged 40, the forward remains central to Portugal’s ambitions as they approach key 2026 World Cup qualifiers...

Uzmetkombinat JSC has signed a €132.5 mn, seven-year loan agreement in London to complete the construction of Uzbekistan’s first hot-rolled steel production facility, the Casting and Rolling Complex.

The financing was arranged by Standard Chartered Bank (United Kingdom) and KfW IPEX-Bank GmbH (Germany), with insurance coverage provided by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). The funds will be used to finance and refinance expenses related to the construction, commissioning, and launch of the new complex.

Bahodir Abdullaev, Chairman of the Board and General Director of Uzmetkombinat, said:

«We express...

Rising waters of the Nile have flooded homes and farmland in northern Egypt, forcing residents to use boats to move through submerged streets and reigniting tensions between Cairo and Addis Ababa over the impact of Ethiopia’s vast Nile dam.

Homes Submerged in Menoufia

In the Nile Delta village of Dalhamo, Menoufia Governorate, about 50 kilometres northwest of Cairo, residents paddled wooden boats through narrow lanes as floodwaters reached their homes.

«We lost everything,» said fisherman Saied Gameel, standing knee-deep inside his flooded house. «The water level is extremely high, much higher this year. Before...

Japan’s Mitsubishi Corporation and Uzbekistan’s Ministry of Investment, Industry and Trade have agreed to implement new joint projects in the fields of energy and industry, the ministry’s press service announced.

During the meeting, Deputy Minister Ilzat Kasimov and Mitsubishi Corporation’s CEO Juro Baba discussed ways to accelerate ongoing energy projects and develop new public-private partnership initiatives. The Japanese side expressed its readiness to expand investment in Uzbekistan’s economy and participate in upcoming infrastructure ventures.

Founded in 1954 and headquartered in Tokyo, Mitsubishi Corporation is one of Japan’s largest multinational conglomerates. Its diversified portfolio includes energy, industrial production, engineering, chemicals...

McLaren Racing chief Zak Brown has denied misleading Alex Palou with promises of a Formula One seat, as the high-profile legal battle between the British team and the four-time IndyCar champion continued in London on Tuesday.

McLaren are suing Palou for around $20 mln, alleging a breach of contract after the Spaniard pulled out of a planned move to the team three years ago. Palou’s legal team argue that he owes nothing and accuse McLaren of attempting to «take him to the cleaners.» McLaren, who currently lead both the Formula One Constructors’ and Drivers’ Championships, also operate the Arrow...

Uzbekistan will launch an Artificial Intelligence Development Alliance to coordinate efforts across ministries and government agencies, Minister of Digital Technologies Sherzod Shermatov announced in an interview with Uzbekistan 24.

According to Shermatov, President Shavkat Mirziyoyev has instructed officials to allocate $100 mln to advance AI technologies and prepare a comprehensive national framework covering all sectors of the economy. The government also plans to introduce a special investment regime for companies investing over $100 mln in data centre construction in Karakalpakstan.

Shermatov added that the development of artificial intelligence should not be limited to the Ministry of Digital Technologies...

All remaining trekkers stranded near the eastern face of Mount Everest in Tibet have been safely evacuated, authorities confirmed on Tuesday, bringing to an end one of the largest search and rescue operations ever conducted in the region.

Over the weekend, hundreds of hikers became trapped in deep snow in the remote Karma Valley after an unusually powerful blizzard blanketed the area, which sits at an average altitude of 4,200 metres. Heavy snowfall continued throughout October 4, leaving trekkers, local guides and yak herders isolated for days.

By October 5, rescue teams had already guided around 350 people to safety...

President of Uzbekistan Shavkat Mirziyoyev has proposed the creation of an International University of Turkic States and several new economic partnerships during the summit of the Organisation of Turkic States (OTS) held in Gabala.

Among his key initiatives was a call to hold the first joint meeting of the foreign ministers and security agency heads of OTS member countries in Samarkand to discuss regional security challenges. He also urged the swift adoption of the Treaty on Strategic Partnership and the development of a Strategy for the Development of Turkic States through to 2030.

Strengthening Economic Cooperation

Mirziyoyev...