News

From November 1 to November 8, 2024, the Tashkent Republican Stock Exchange experienced significant changes in its shares. During this period, the UCI index increased from 627.45 to 629.67, and the total transaction volume on the exchange surpassed 8 billion soums, with nearly 5,000 buy and sell transactions taking place.

The shares that demonstrated the highest growth

During this period, UzAuto Motors experienced the most significant growth among highly liquid shares, increasing from 63,000 soums to 69,000 soums, which represents a growth of 9.52%. Additionally, shares of Ipak Yuli Bank also yielded positive results, rising from 140 soums to...

At the summit in Riyadh, Uzbek President Shavkat Mirziyoyev met with Saudi Crown Prince and Prime Minister Mohammad bin Salman Al Saud.

The leaders discussed plans to initiate joint projects focusing on green energy, transportation modernization, and the agricultural sector. They also addressed preparations for the second Central Asia-Gulf Arab Council summit, scheduled to be held in Samarkand in 2025.

President Mirziyoyev expressed gratitude for the arrangements made for Hajj and Umrah for Uzbek citizens. Additionally, regional issues were discussed, including efforts toward the peaceful resolution of conflicts in the Middle East.

Kursiv Uzbekistan reports that Mirziyoyev proposed...

The Central Bank of Uzbekistan has announced an auction to place state short-term treasury bills, as stated in a message on the regulator’s Telegram channel.

The auction should begin at 11:00, and primary dealers are invited to participate.

The total volume of the treasury bond issuance will be 200 bn soums, with each bond having a nominal value of 1 million soums. The term of circulation for these bonds is 364 days.

Kursiv Uzbekistan also reports that the Central Bank of Uzbekistan has identified risks associated with issuing bonds in foreign currency.

On Tuesday morning, November 12, Tashkent was ranked third among the world’s cities with the most polluted air, according to data from the IQAir portal.

The concentration of PM2.5 (dust, particles from car tires, asphalt, and heavy metal compounds) in the air of the Uzbek capital exceeded the safe limit by 18 times.

The highest levels of air pollution were recorded in Lahore, Pakistan, and Delhi, India.

Kursiv Uzbekistan also reports that environmental inspections are initiated in Tashkent to address air pollution.

Photo: NOC Uzbekitan

Uzbekistan’s team won five medals on the first day of the Central Asian nations’ indoor track and field tournament in Urumqi, China, as reported by the Uzbek National Olympic Committee (NOC).

The gold medalists included Dostonbek Abdumutalov in the under-16 shot put event, Anastasia Silchenkova in the under-16 1,500 meters, Angelina Silchenkova in the under-16 1,500 meters, and Angelina Grechkina in the under-18 long jump. Amir Nagaev also secured a gold medal in the adult high jump event.

Oybek Zarifjonov earned a bronze medal in the under-18 shot put event.

Kursiv Uzbekistan also reports ten...

Photo: yeiferr / Rihabay

According to the competition organisers, participants in a youth hackathon proposed ways to use artificial intelligence (AI) technologies to create a smart and safe city.

Eighteen teams from Fergana Oblast and various regions of Uzbekistan participated in the hackathon organised by the Technovation Girls program and Yandex Uzbekistan. The teams developed prototype AI applications to enhance accessibility, comfort, and safety in urban environments.

The winning projects included innovations for people with disabilities, applications for smart parking and waste bins, a social services aggregator for motorists, an AI algorithm to optimise road traffic, and an application that...

Photo: AleksTaurus / Depositphotos

The Ministry of Economy and Commerce of Kyrgyzstan has signed an agreement to purchase a pavilion at the International Trade Centre (ITC) in Termez, as reported by the Kyrgyz Trade Representation in Uzbekistan.

The Ministry of Economy anticipates that this purchase will enhance the exports of Kyrgyz manufactured goods and agricultural products to Afghanistan. The Trade Mission referred to the Termez ITC as a crucial hub along Central Asia’s most significant trade routes.

The financial details of the agreement between the Ministry of Economy of the Kyrgyz Republic and the Termez International Trade Centre have...

Environmental inspections of greenhouses and other businesses that use solid fuel for heating have begun in Tashkent, as reported by the press service of the capital’s khokimiyat.

These inspections were initiated in response to complaints about air pollution and the city’s deteriorating environmental situation and surroundings. Environmental inspectors assess whether energy equipment is being used in compliance with regulations and whether filters have been installed to reduce air emissions.

All facilities that have the potential to pollute the atmosphere will be monitored, including greenhouses, restaurants, and establishments that cook food over an open flame.

A working group composed of...

Photo: Roman Fedotov / Kursiv Uzbekistan

The final day of Uzbekistan Fashion Week (UFR) took place on the 48th floor of the Piramit Tower residential complex in Tashkent on November 10.

The event featured the UFR Awards ceremony and the Anor collection show.

This collection showcased gold, silver, white and beige shades, symbolising purity and lightness.

During the Awards Ceremony, top stylists and photographers were celebrated.

Among the attendees were singer Lola Yuldasheva and Maryam Tillyaeva, the granddaughter of the country’s first president, who received the award for Best Fashion Blogger.

President of Uzbekistan Shavkat Mirziyoyev has expressed readiness to provide war-affected Palestinian children and women with free treatment in Uzbek clinics. The head of Uzbekistan said this in his speech at the extraordinary Arab-Islamic summit.

He emphasised the need for an immediate cessation of hostilities, the creation of safe humanitarian corridors and the start of negotiations, calling for constant attention to these issues by the UN and the Security Council.

The President said the Palestinian people have the right to establish an independent state with East Jerusalem as its capital within the 1967 borders and expressed...

Photo: Pixabay

At the end of the first nine months of 2024, residents of Uzbekistan received a total of 8.9 billion soums for selling surplus electricity generated by their solar panels, according to the Uzbek Ministry of Energy.

Households with solar panels are eligible for a subsidy of 1,000 soums for each kilowatt-hour (kWh) of energy they supply to the unified power system. From January to September, 6,000 households benefited from this subsidy.

Among the regions of Uzbekistan, the Khorezm region received the largest amount of subsidies, totalling 2.1 bn soums. Karakalpakstan and Tashkent followed, with residents receiving...

Uzbek President Shavkat Mirziyoyev met with Saudi Energy Minister Prince Abdulaziz Bin Salman Al Sauda in Riyadh. During their discussion, both parties agreed to involve Saudi companies and consultants to enhance localisation and energy efficiency in Uzbekistan’s enterprises.

They also talked about potential joint investment projects, particularly in green energy.

Kursiv Uzbekistan also reports that the International Finance Corporation (IFC) will provide the Saudi company ACWA Power with a $240 million loan to support the development of green energy initiatives in Uzbekistan.

Photo: Reuters

Uzbek President Shavkat Mirziyoyev has approved an agreement on sanitary and epidemiological cooperation with Russia, as announced by the Uzbek Ministry of Justice.

This agreement aims to organise research on natural plague sites and to conduct joint exercises to combat epidemics. Signed on May 27, 2024, the document outlines plans for collaborative prevention and monitoring of infectious diseases. Both countries will share expertise, coordinate the development of infection control methods and provide training for personnel. Medical organisations in Uzbekistan and Russia will enhance scientific cooperation.

The Committee for Sanitary-Epidemiological Welfare...

Saudi companies are ready to invest $2.5 bn in various projects in Uzbekistan by the end of 2024, as reports the press office of Uzbekistan’s President, Shavkat Mirziyoyev. This announcement follows a meeting held in Riyadh between the President and Khalid al-Falih, the Minister of Investment of Saudi Arabia.

During their discussions, the parties focused on increasing mutual trade and collaborative projects in alternative energy, healthcare, and housing services. They also addressed the construction of transportation infrastructure.

Both sides highlighted the rapid development of cooperation between their countries, including a growing number of passenger flights.

As of the...

Uzbekistan is currently working on legislation to prohibit the promotion of transgender issues, as stated by Alisher Kadirov, the leader of the ‘Milliy Tiklanish’ party.

Kadirov’s remarks came in response to a post by U.S. President-elect Donald Trump, shared by his daughter Ivanka Trump. In his statement, Trump expressed his intention: “I will cut off federal funding for all schools that teach our children inappropriate sexual material and transgender madness.”

Kadirov praised this approach, referring to it as “a positive change in a critical issue.” He added, “In Uzbekistan, we are actively pursuing a law to ban any...

On October 31, 2024, a significant advancement in fintech, blockchain, and cybersecurity was achieved during the Digital Kazakhstan 2024 Plas-Forum. At this event, a memorandum of cooperation was signed between Freedom Pay and the Central Asian Fintech Association. This agreement paves the way for new opportunities in developing high technology and digital finance in Central Asia.

The memorandum fosters collaboration in financial technologies, blockchain solutions, and cybersecurity, enhancing digital payments and financial services infrastructure.

This partnership aims to enhance interaction with government agencies to gather and share essential information and collaborate with international financial institutions.

The collaboration is designed to...

At the UN Climate Change Conference (COP29) in Baku, Azerbaijan, Kazakhstan and Azerbaijan are set to sign an agreement to establish a joint venture known as the Green Road. This announcement was made by Uzbekistan’s Deputy Energy Minister, Umid Mamadaminov.

“We are engaging the Italian consulting company CESI to conduct a feasibility study. This task will take approximately one year, after which the construction phase will begin. Several international financial organizations are also interested in the project and are considering financing this environmentally friendly initiative. According to estimates, construction will take 3 to 4 years. By 2030, we aim...

Next week, Uzbekistan’s President, Shavkat Mirziyoyev, will make official visits to Saudi Arabia and Azerbaijan, according to the President’s press service.

At King Salman bin Abdulaziz Al Saud’s invitation, President Mirziyoyev will attend a summit on the conflicts in Gaza and Lebanon. At the summit, leaders aim to agree on actions to quickly end hostilities in the Middle East.

On November 12-13, President Mirziyoyev will travel to Baku to participate in the UN International Climate Conference. This event will address crucial issues such as climate finance and the transition to renewable energy, drawing over 70,000 participants and delegates from...

The United States urged Qatar to expel the political office of the Palestinian militant group Hamas, Reuters reports.

This request follows the group’s refusal to negotiate a deal for the release of Israeli hostages and a temporary ceasefire.

The Financial Times reports that Qatar demanded Hamas representatives leave the country. Members of Hamas’ political leadership and their families have lived in Doha since 2012.

Uzbekistan’s national team claimed first place in the medal standings at the World Mixed Martial Arts (MMA) Championship, according to the Ministry of Sport of the Republic of Uzbekistan.

Uzbek athletes won three gold, one silver, and eight bronze medals. Jamshid Tillaev won gold in the flyweight category by defeating France’s Samba Sima. Zafar Rashidov took gold in the featherweight division, overcoming Kazakhstan’s Samgat Shabdan. Asrorbek Anvarjonov also won gold for Uzbekistan in the light heavyweight category.

Karshi Usmonov earned a silver medal in the flyweight category. Of the eight bronze medals, half were awarded to women.

The competition...

Bitcoin continues to soar, with its price rising 3.3% in the last 24 hours to reach $79,000, according to trading data.

The price spike gained momentum after Donald Trump won the U.S. presidential election. The Republican candidate has long supported cryptocurrency growth. In June, during a speech at the Bitcoin Conference in Nashville, Tennessee, Trump promised to turn the U.S. into a global cryptocurrency superpower.

Trump’s key proposals include establishing clear and simple regulations for the cryptocurrency market, engaging in dialogue with industry leaders, and creating a national Bitcoin reserve.

In the past week, Bitcoin has surged by almost...

The administration of the international ALIPH Foundation and Chairperson of Uzbekistan’s Art and Culture Development Foundation, Gayane Umerova, recently met to discuss avenues for cooperation, according to the Cultural Development Foundation.

The parties explored collaborative efforts in the conservation and restoration of cultural monuments, as well as the development of programmes aimed at preserving intangible heritage. The Foundation and ALIPH Foundation outlined steps for cooperation within the framework of the Aral Cultural Summit.

The ALIPH Foundation is an international organisation focused on the protection of cultural heritage. ALIPH’s Board Chair, Bariza Khiari, also serves as a special representative of...

According to the regulator, in October, the Banking Supervision Committee of Uzbekistan’s Central Bank fined seven banks and two microfinance organisations for not meeting regulatory and prudential requirements.

The committee also flagged two payment system operators and two payment organisations for failing to comply with minimum statutory capital and organisational structure rules.

Regulatory specialists identified security vulnerabilities in the automated systems of four commercial banks, directing these institutions to address the issues or face further sanctions.

Additionally, the Central Bank reviewed 16 cases, covering changes to credit institutions’ statutes, re-registration of licences, and the appointment of board members and...

The price of liquefied gas in Uzbekistan dropped to 8.724 mln soum per tonne at Friday’s trading session—a 14% decrease since early November, according to the Uzbekistan Republican Commodity and Raw Materials Exchange.

The exchange noted that this price has now fallen below September’s average for liquefied gas, which was 8.8 mln sum per tonne.

Since the start of the month, 2,000 tonnes of liquefied gas have entered the market, a volume up by around 25% compared to October. The exchange also expects a rise in AI-80 automotive petrol trading.

Kursiv Uzbekistan also reports that Uzbekistan has cut...