News

Do Kwon, the former head of Terraform Labs, has pleaded guilty in a New York court to two counts of fraud linked to the 2022 collapse of cryptocurrencies TerraUSD and Luna, which wiped out more than $40bn in investor value.

Wearing a yellow prison jumpsuit, the South Korean entrepreneur admitted making «false and misleading statements» about efforts to restore TerraUSD’s $1 peg, apologising for his conduct.

Under a plea deal, prosecutors will seek no more than a 12-year sentence, though Judge Paul Engelmayer could impose up to 25 years when sentencing takes place on 11 December. Kwon will forfeit...

Firefighters in Greece are tackling dozens of wildfires as a severe heatwave grips southern Europe, forcing thousands to evacuate.

In the last 24 hours, Greece has recorded over 150 new fires. More than 4,800 firefighters are working to contain multiple blazes across the country. At least three people have died in Spain, Albania, and Turkey, and many others, including firefighters, have been treated for burns and smoke inhalation.

Temperatures have topped 40°C in several countries, with France and Slovenia hitting new records.

In Greece, flames have destroyed homes, businesses, and farmland on the islands of Chios and Zakynthos, and...

A major political dispute has erupted in India after opposition parties accused the Election Commission of India (ECI) of large-scale irregularities in the 2024 general election — claims the ruling Bharatiya Janata Party (BJP) and the ECI firmly deny.

On Tuesday, parliament was adjourned as opposition MPs demanded a debate on what Congress leader Rahul Gandhi has called «vote theft.» A day earlier, Gandhi and dozens of opposition figures were briefly detained in Delhi while marching to the ECI’s headquarters.

«Widespread voter manipulation» took place during the election, Gandhi alleged on 7 August, citing constituency-level data he says came from...

Chloe Malle, daughter of actress Candice Bergen and French film-maker Louis Malle, is widely seen as the favourite to succeed Anna Wintour at the helm of US Vogue, Page Six reports. Currently serving as editor of Vogue.com, the 39-year-old is said to be in the final stages of interviews for the post of head of editorial content.

A favourite among Vogue staff

Malle, a popular figure within the editorial team, recently fronted an interview with Lauren Sanchez for her cover story ahead of Sanchez’s opulent Venetian wedding to Amazon founder Jeff Bezos.

Sources say Condé Nast’s top executives...

Meta has reported that its artificial intelligence systems are beginning to improve themselves without human intervention, a development CEO Mark Zuckerberg says marks «the first step towards achieving artificial superintelligence (ASI).»

«Over the last few months we have begun to see glimpses of our AI systems improving themselves,» Zuckerberg wrote in a policy paper on July 30. «The improvement is slow for now, but undeniable.»

ASI refers to AI that can far exceed human intelligence and self-enhance at an exponential rate a concept long debated in the tech world. While optimistic about its potential...

A senior Russian official claims foreign powers are trying to derail a planned U.S.–Russia leaders’ summit in Alaska this weekend, where Donald Trump and Vladimir Putin are expected to discuss ending the war in Ukraine.

Kirill Dmitriev, Russia’s investment envoy, wrote on Telegram that «countries interested in continuing the conflict will make titanic efforts to disrupt» the meeting. He did not specify which nations he believes are involved.

Trump announced the August 15 gathering on Truth Social, calling it a «highly anticipated» meeting, while Putin’s aides welcomed Alaska as a venue due to its proximity to Russia and potential...

Manchester City and the Premier League have not spent £200 mln on their long-running Financial Fair Play (FFP) dispute, according to former club financial adviser Stefan Borson.

City were charged in February 2023 after a four-year investigation, accused of breaching financial rules on 130 occasions between 2009 and 2018, allegations the club strongly denies. The independent commission hearing concluded last December, but a verdict is now expected no sooner than October.

The Times recently reported that both sides had spent a combined £200 mln on legal fees. Borson, however, told Football Insider that the figure was «completely ridiculous,» estimating...

Bukhara region is set to launch 21 major investment projects worth $1.7 bn, expected to create 32,000 jobs and generate $180 mln in annual export potential. The plans were unveiled on August 12, during a meeting chaired by the President of Uzbekistan. There, the results of ongoing reforms were reviewed and new development priorities for the region were outlined.

Previously reliant on only a few sectors, the regional economy has seen rapid diversification over the past eight years, driven by over $8 bn in investments. In industry alone, 6,000 new enterprises have been established, boosting industrial output more...

Uzbekistan entered August 2025 with more than 16.6K active enterprises backed by overseas investment, a year on year rise of 16.4%, according to the National Statistics Committee.

Most are fully foreign owned companies at over 12.5K, alongside around 4K joint ventures. As of August 1, there were more than 4.2K companies operating with Chinese participation, while enterprises with Russian capital totalled about 3K. Turkish businesses numbered roughly 1.9K, Kazakh firms 1.1K, South Korean 671 and Afghan 622.

In early July Azerbaijan’s president Ilham Aliyev said Uzbekistan remains attractive for investors and added that channeling Azerbaijani investment into the...

Johnny Depp may once again don the hat and compass of Captain Jack Sparrow for a sixth Pirates of the Caribbean film, according to the franchise’s long-time producer Jerry Bruckheimer. Speaking to Entertainment Weekly, Bruckheimer revealed he had recently discussed the idea with the actor and remains optimistic about Depp’s return.

«If he likes how the role is written, I think he would do it,» Bruckheimer said. «It’s all about what’s on the page… We’re still working on the screenplay. We want to make it, but we need to get it right. We’re close.»

On August 7, Jennifer Lopez brought her Up All Night – Live in 2025 world tour to Tashkent, staging a spectacular performance at Milliy Stadium (formerly Bunyodkor). According to the Art and Culture Development Foundation, the event generated 42.5 bn soums ($3.4 mln) in tax revenue for Uzbekistan’s budget.

The concert made history as the first performance in Uzbekistan by an artist in the AAA category — a global classification reserved for the most popular artists whose shows require complex technical setups.

Massive International Attendance

More than 90 members of Lopez’s touring crew travelled to Uzbekistan for...

Taylor Swift has revealed her upcoming album, «The Life of a Showgirl», during an appearance on New Heights, the podcast hosted by her boyfriend Travis Kelce and his brother Jason. It will be her first new record since regaining the rights to her full music catalogue.

So far, little is known about the project. Swift has yet to share the release date or album cover, but hints had already been spotted by her fans. On August 11, Taylor Nation, part of her official social media team, posted 12 images of Swift in different orange outfits with the caption, «Thinking...

From August 8 to 10, the Arda Khiva complex and the Ichan Qala fortress in Khorezm hosted the «Melon Festival 2025». A Kursiv Uzbekistan correspondent attended the event and prepared a photo report.

The festival featured 19 themed stands where all districts of Khorezm and local farming enterprises showcased their products, technologies and innovative approaches.

In the gastro zones, visitors could sample distinctive dishes of Khorezm cuisine — such as shivit oshi, gumma and desserts made from melon.

According to reports, in 2024 the festival attracted more than 500,000 visitors, while this year attendance exceeded one million, including 300,000 foreign...

On August 13, most of Uzbekistan will experience dry and sunny weather. Only in the Republic of Karakalpakstan could there be brief rain and isolated thunderstorms in the morning. Winds will generally blow at 7–12 m/s but could strengthen to 13–18 m/s in places, carrying dust near the ground. Daytime temperatures will range from 33°C to 38°C, with the southern regions locally reaching 40–41°C.

In Tashkent, no precipitation is expected. Winds will be light at 3–8 m/s, occasionally strengthening to 10–12 m/s with some dust in the air. Temperatures will range from 35°C to 37°C.

Mountain regions will also...

Atlético Nacional could not make the most of playing at home in the Copa Libertadores round of 16, drawing 0–0 with Sao Paulo on Tuesday, August 12, night. The match at Medellín’s Estadio Atanasio Girardot was marked by Edwin Cardona missing two penalties — one in each half.

Strong Start but Early Miss

Nacional began the match well, pushing Sao Paulo back and creating early chances. Marlos Moreno was lively, dribbling past defenders and shooting on goal. The best chance came in the 12th minute, when the referee gave a penalty for handball by Nahuel Ferraresi. Cardona stepped...

Several banks have updated their rates for exchanging foreign currencies into UZS as of August 13. This article contains information about the most favourable rates.

Here are Central Bank Reference Rates to exchange USD, EUR, GBP, CHF, JPY, or KZT into soums:

Several banks offer the best rates to exchange USD, EUR, GBP, CHF, JPY, or KZT into soums:

Financial institutions may change the value...

Uzbekistan has approved a water management program for 2025–2028 aimed at modernising irrigation systems, improving efficiency and conserving resources. The plan includes the reconstruction of over 2,500 km of irrigation networks, replacing outdated pumping equipment with more efficient models and reducing areas affected by water shortages and high soil salinity.

President Shavkat Mirziyoyev endorsed the proposals during a presentation on August 12. As a result, 460K hectares of land will be brought back into agricultural use. Water-saving technologies will be introduced on 1.4 mln hectares, including drip irrigation on nearly 300K hectares. The program also calls for automated...

Outsiders of the week were Uztelecom preferred shares. Photo: Businessupside

Last week, the most liquid stocks on the Uzbek stock market showed mixed dynamics. From August 1 to 8, the UCI index fell by 1.05%, according to exchange data.

The biggest growth for the week was recorded by Hamkorbank’s preferred shares, which rose by 11.07% to 30 soums. The top three gainers also included Kokand Mechanical Plant shares (+7.87% for the week) and Biokimyo (+6.24%).

The main losers of the week were Uztelecom’s preferred shares, which lost 8.58% in value. In addition, ordinary shares of Hamkorbank fell by 3.97%, and...

A major new report warns that humanity is facing a «widely underappreciated» health crisis caused by toxic chemicals present in food, water, and air — with impacts on cancer rates potentially rivalling those of smoking, reports The Independent.

The Invisible Tsunami study, conducted by Deep Science Ventures in partnership with The Grantham Foundation for the Protection of the Environment, links synthetic chemical exposure to cancer, obesity, Alzheimer’s disease, infertility, ADHD and other serious health issues. The eight-month investigation drew on peer-reviewed studies, expert interviews, and environmental data.

Researchers found that more than 3,600 synthetic chemicals from food packaging, pesticides...

Members of the Legislative Chamber of Uzbekistan’s Oliy Majlis have approved, in a third reading, a new law establishing rules for the use of artificial intelligence (AI).

The legislation introduces fines for the unlawful processing and dissemination of personal data through AI technologies, including via mass media and the internet. It provides an official definition of AI, outlines the objectives of state policy in this area and sets basic requirements for using AI in creating information resources and operating information systems.

A key provision states that decisions affecting human rights and freedoms must not be based solely on AI-generated...

Sharon Stone once again proved her timeless glamour on August 11, 2025, as she graced the Los Angeles premiere of Nobody 2. Returning to the big screen in the action-packed sequel, the 67-year-old Hollywood icon turned heads in a breathtaking black floor-length gown.

The long-sleeved, high-neck dress hugged her statuesque figure, highlighting her slim waist. Stone paired the look with bold gold platform heels, layered gold jewelry, and a matching gold clutch for a refined touch. Completing her ensemble, she wore sky-blue sunglasses and styled her hair in a softly waved bob, adding volume and elegance.

The actress shared a...

Pop icon Madonna has issued an emotional plea to Pope Leon XIV, urging him to intervene in Gaza’s worsening humanitarian situation. Writing on Instagram, the 66-year-old singer called on the pontiff to personally travel to the region to help protect children caught in the crisis.

«Most Holy Father, please go to Gaza and bring your light to the children before it’s too late,» Madonna wrote. «As a mother, I cannot bear to see their suffering. The children of the world belong to everyone.»

She stressed that the Pope is «the only one among us...

In what rescuers are calling a miracle, a 39-year-old Canadian man has been found alive after spending nine days stranded in the wilderness of British Columbia.

Andrew Barber disappeared on July 31 when his truck broke down near McLeese Lake, about 587 km north of Vancouver. According to the BBC, a search helicopter eventually spotted his vehicle on a remote forest road, leading to his rescue.

Barber survived by building a makeshift shelter against a rock using dirt and wood, and writing a large «HELP» message on the stone to attract attention.

«He was...

President Shavkat Mirziyoyev on August 11 reviewed plans to strengthen Uzbekistan’s fight against the shadow economy.

In recent years, the government has cut taxes, removed over 100 types of licences and permits, and reduced the number of taxes from 13 to 9. As a result, the shadow economy’s share has fallen from 45–50% in 2019 to 35% today, but further reduction is needed.

Officials highlighted key drivers of the shadow economy and measures to address them. Digital and innovative solutions were identified as the most effective tools. For example, automating Tashkent’s public transport payment system revealed passenger numbers...