News

Uzbekistan’s banking sector continues to show resilience, according to the latest Bank Activity Index from the Center for Economic Research and Reforms (CERR) for Q3 2025. The report highlights sustained growth among major players and notable movement within the mid-tier segment.

CERR assessed 35 commercial banks, 20 large and 15 small, based on 27 indicators aligned with international standards. The ranking aims to enhance transparency, encourage competition, and strengthen public trust in the sector.

Sector Performance

Total assets reached 863 trln sums ($71.2 bn), while liabilities stood at 734 trln sums ($60.6 bn). Lending growth eased to 14%, deposit...

Kazakhstan has been chosen as the filming location for the fourth instalment of Jackie Chan’s legendary action franchise, Armour of God. The news was confirmed by the media company Sәlem Entertainment, which announced that the upcoming film, titled Armour of God: Ultimatum, will be produced in the country.

Speaking at the Digital Bridge 2025 forum, the company’s CEO Igor Tsai informed the President of Kazakhstan that production of the new film starring Jackie Chan would take place locally, marking a significant collaboration between the Kazakh film industry and one of Asia’s most famous movie icons.

The Armour of God...

President Shavkat Mirziyoyev reviewed new plans on October 6 to expand the development and application of artificial intelligence (AI) technologies in Uzbekistan’s economy and social sectors.

Uzbekistan’s AI Progress Recognised

AI is now becoming a crucial tool in fields such as education, healthcare, energy and governance. Its use is expected to improve state management efficiency, optimise resource allocation and enhance the quality of public services.

Over the past few years, Uzbekistan has implemented steady reforms in this area, rising 17 places in the global AI application ranking to 70th among 188 countries and first in Central Asia.

The...

Top welterweight contender Shakhram Giyasov will make his highly anticipated return to the ring on November 14 at the prestigious Humo Arena in Tashkent, as announced by Lift Promotions.

The undefeated Giyasov (17-0, 10 KOs), currently ranked fifth by The Ring at 147 pounds and holding the number one spot in the WBA rankings, will face an opponent to be announced in what promises to be an exciting homecoming fight.

While preparing for this bout, Giyasov remains in contention for a mandatory title shot against WBA welterweight champion Rolando Romero. The 32-year-old native of Bukhara, known as «Wonder Boy,» boasts an impressive resume that...

Uzbekistan is stepping up efforts to diversify its debt issuance strategy , building on recent successes in the sustainable bond market and exploring new financing opportunities in Islamic finance.

The country’s dollar-denominated bonds have shown impressive returns this year, climbing nearly 14%, which significantly outpaces the average 10% return seen across emerging and frontier markets tracked by Bloomberg. This performance comes after years of market isolation prior to 2016, followed by a period of economic reforms under President Shavkat Mirziyoyev, including the introduction of a free-floating currency regime.

In recent years, Uzbekistan has made significant strides in sustainable finance...

Global central banks added a total of 15 tons of gold to their reserves in August, according to the latest report from the World Gold Council (WGC). The data, compiled from sources including the International Monetary Fund and national central banks, shows a return to active gold purchasing following a temporary pause in July.

The August figure aligns with the average monthly purchases recorded between March and June. The slight slowdown in July was attributed to Indonesia’s decision to sell 11 tons of its gold reserves.

Despite record-high gold prices in 2025, central banks have maintained their interest in the...

The First Vice President of the Uzbekistan Football Association Ravshan Irmatov has dismissed claims that Fabio Cannavaro will earn around €4 mln annually as head coach of the national team.

«Cannavaro’s salary is not €4 mln. It is not even a quarter of that figure. However, both sides have agreed not to disclose the exact amount,» Irmatov told reporters when asked about the deal.

The football body confirmed that Cannavaro has signed a contract structured as 2+3. Irmatov also expressed gratitude to Srečko Katanec, Timur Kapadze and other specialists who played a key role in...

A growing number of young adults are choosing to cut ties with their parents, a phenomenon that was once considered taboo. Cara, a 25-year-old journalist from Bradford, is one such individual who hasn’t spoken to her father for three and a half years.

Statistics and Research

Recent studies indicate that family estrangement is more common than previously thought. Research suggests that approximately one in five UK families and 6% of adult children in the US experience parental separation.

High-Profile Cases Bring Awareness

Celebrities like Matthew McConaughey and Davina McCall have publicly discussed their experiences with estrangement, helping...

The United States Department of Commerce has announced provisional anti-dumping duties exceeding 91% on Italian pasta starting in January 2026, adding to the 15% tariff already in place. The move forms part of an investigation into alleged dumping practices, where certain brands are accused of exporting products to the US below market value.

Italian Response

Italy’s foreign ministry confirmed it was working with affected companies and consulting the European Commission to push for a review of the duties. The Italian embassy in Washington has also stepped in to assist producers in defending their interests. Officials stressed that Italian firms...

Italian coach Fabio Cannavaro has agreed to take charge of Uzbekistan’s national football team, the country’s Football Association announced.

Cannavaro arrived in Tashkent on Monday, October 6, with his coaching staff and also met with Timur Kapadze, the team’s former manager. The Italian had previously declined offers to lead both Uzbekistan and Kazakhstan.

Playing and Coaching Career

Born on September 13, 1973 in Naples, Cannavaro began his playing career in the early 1990s with Napoli. He later played for Juventus, Real Madrid and Al-Ahli.

His professional coaching career started in China with Guangzhou Evergrande from...

Luxury car manufacturer Aston Martin has issued a profit warning following a decline in sales during the latest financial year, attributing the drop to the impact of US tariffs imposed by President Donald Trump.

Key Financial Challenges

The British automaker reported a decline in wholesale volumes in the third quarter of 2025, delivering 1,430 units compared to 1,641 units in the same period last year. The company cited weaker demand in North America and the impact of a 25% tariff on imported vehicles as the primary reasons for the decline.

Tariff Impact and Government Relations

Although the UK secured a...

The Public Investment Fund (PIF) of Saudi Arabia has engaged leading international banks to manage the sale of its inaugural euro-denominated green bond, according to sources and documents reviewed by Reuters.

The move marks another step in the kingdom’s strategy to tap into international bond markets to finance its ambitious development projects while aligning with its environmental goals. The sovereign wealth fund, along with other state-affiliated entities, is increasingly turning to dollar and euro bond markets to bridge funding gaps and support multibillion-dollar projects.

PIF, which oversees assets worth nearly $1 trillion, has appointed Crédit Agricole CIB, JP Morgan...

Vietnam’s economy demonstrated remarkable resilience in the third quarter, posting an 8.23% year-on-year GDP growth despite the impact of recent US tariffs, official data revealed on Monday.

The Southeast Asian nation’s economic performance exceeded expectations, surpassing the previously reported 8.19% growth rate in Q2. This robust expansion aligns with the government’s ambitious target of 8.3%–8.5% annual growth, though it outpaces projections from international financial institutions like the World Bank (6.6%) and IMF (6.5%).

Export Sector Faces Mixed Performance

While overall exports rose by 18.4% to $128.57 billion in Q3, the US market showed signs of weakness. September exports...

Uzbek companies have received licences from the Afghan authorities to carry out exploration and development of hydrocarbon deposits, Energy Minister Jurabek Mirzamakhmudov confirmed in an interview with Uzbekistan 24 television.

Mirzamakhmudov said that on 14 September work commenced at the Tuti-Maidan gas field in Afghanistan. The project, with a 25-year implementation period, is being executed by the Uzbek company Eriell KAM.

The minister noted that improved infrastructure and strengthened stability in Afghanistan would provide Uzbekistan with the shortest access to seaports, creating new opportunities for transit and logistics. He stressed that Afghanistan’s peaceful and sustainable development was vital not...

France’s newly appointed Prime Minister Sébastien Lecornu resigned Monday morning, just 14 hours after unveiling his cabinet, as both allies and opponents threatened to bring down his government. The abrupt move sent French stocks and the euro tumbling.

The unprecedented swift resignation marks a significant escalation in France’s ongoing political crisis. Lecornu, a close associate of President Emmanuel Macron, had appointed his ministers on Sunday following weeks of political consultations. The first scheduled cabinet meeting was set for Monday afternoon.

However, the new government lineup sparked backlash from various political quarters. Critics argued the cabinet was either too right-wing...

The world is preparing for the annual announcement of the Nobel Prizes, with the first awards being revealed this week. The ceremony will begin with the announcement of the Medicine/Physiology Prize on Monday and conclude with the Economics Prize announcement on October 13.

What Are the Nobel Prizes?

The Nobel Prizes recognize outstanding achievements in several fields:

Each prize comes with a monetary award of 11 million Swedish crowns (approximately $1.2 million) and instant global recognition for the recipients.

The Legacy of Alfred Nobel

The prizes were established by...

The 2025 season of La Casa de los Famosos has concluded with Aldo de Nigris crowned as the winner after months of captivating audiences and becoming the most viral figure of the show. Nicknamed the Niño Bien, he won over the public with his charisma and energy.

From Football to Reality TV

Born in Monterrey, Nuevo León, Aldo is the son of Leticia de Nigris and part of a family deeply linked to sport, being the nephew of Poncho, Aldo and Antonio de Nigris. He also spent time living in McAllen, Texas.

He grew up playing football with...

France was thrown deeper into political turmoil on Monday after newly appointed Prime Minister Sebastien Lecornu resigned only 14 hours after unveiling his cabinet. His departure sent French markets tumbling and the euro sharply lower, marking an unprecedented escalation of the country’s instability.

Cabinet Collapses Before First Meeting

Lecornu, a close ally of President Emmanuel Macron, announced his cabinet on Sunday following weeks of consultations with political parties. The ministers had been due to meet for the first time on Monday afternoon.

Yet the line-up was met with hostility from both allies and opponents, some dismissing it as...

An Aeroflot Airbus A320 flying from Moscow to Tashkent was forced to perform a go-around due to an earthquake felt in the Uzbek capital, according to the Telegram channel Tashkent Sky News.

The incident occurred during the final approach of flight SU1870 at Islam Karimov International Airport. At the instruction of air traffic control, the crew aborted the first landing attempt and circled before safely touching down at 01:50 (GMT+5).

Seismologists reported that the quake originated in Kyrgyzstan’s Jalal-Abad region, registering a magnitude of 5.7 at a depth of 10 km. The epicentre experienced shocks of up to seven...

Japanese stocks reached record highs after the ruling Liberal Democratic Party (LDP) elected Sanae Takaichi as its new leader, paving the way for her to become Japan’s first female prime minister.

The Nikkei 225 index rose by more than 5% on Monday afternoon in Tokyo, climbing past 48,000 for the first time. The surge was driven by gains in real estate, technology and heavy industry shares.

Market Reaction and Yen Weakness

Takaichi, a close ally of the late Shinzo Abe, has advocated high government spending and low borrowing costs, echoing the Abenomics model. Investors responded positively, although the...

Hundreds of trekkers stranded near the eastern Kangshung face of Mount Everest in Tibet have been guided to safety after a sudden blizzard, Chinese state media reported on Sunday. The Himalayas were hit by unusually heavy snow and rain over the weekend.

Trekkers Reach Safety in Qudang

By Sunday, 350 trekkers had reached the township of Qudang, while contact was made with more than 200 others still in the mountains, according to CCTV. Many had travelled to the remote Karma valley during China’s eight-day National Day holiday.

Chen Geshuang, part of an 18-member group, described the ordeal:

Between January and August 2025, the volume of tourism services in Uzbekistan reached 2.2 trln soums ($182.4 mln), according to the national statistics office. This marked a 44% increase compared with the same period last year.

The capital, Tashkent, accounted for the largest share, with services valued at over 1.7 trln soums. Samarkand followed with 305 bn soums, while Khorezm reported 73.1 bn. The Tashkent region contributed 52.2 bn and Bukhara 31.9 bn soums. Together these five areas made up 97.1% of all tourism services across the country.

Kursiv also reports that Bakhmal District in Uzbekistan’s Jizzakh region generated...

US President Donald Trump said on Sunday that negotiations with Hamas to end the war in Gaza and secure the release of hostages were advancing quickly.

«These talks have been very successful and are moving rapidly. The technical teams will meet again in Egypt on Monday to finalise the details. I am told the first phase should be completed this week, and I am asking everyone to move fast,» Trump wrote on social media.

A Hamas delegation led by exiled Gaza chief Khalil Al-Hayya arrived in Egypt on Sunday for talks with Israeli representatives...

Fabio Cannavaro, the renowned Italian football manager, has arrived in Tashkent, according to the Uzbekistan Football Association.

The 2006 World Cup winner travelled to Uzbekistan with his coaching staff as discussions continue over his potential appointment as head coach of the national team.

News first emerged in early October that Cannavaro had given preliminary agreement to take charge of Uzbekistan’s squad. Reports suggested his salary package could reach up to €4 mln per year once the costs of his backroom team are included.

The arrival of Cannavaro marks a significant step in the negotiations as the country looks...