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On July 4, during the Economic Cooperation Organization (ECO) Summit in Khankendi, President of Uzbekistan Shavkat Mirziyoyev and Prime Minister of Pakistan Shehbaz Sharif discussed ways to accelerate the construction of the Trans-Afghan railway.

Both leaders emphasised the project’s importance for strengthening transport connectivity between the two countries and gaining access to southern seaports.

The talks also covered the enhancement of the strategic partnership between Uzbekistan and Pakistan. They noted an increase in trade volume, the number of joint ventures, and direct flights between the two nations. Uzbek Trade Houses have recently opened in the Pakistani cities of...

As of July 7, the Central Bank of Uzbekistan has set the official exchange rate at 12,606.73 Uzbek soums per U.S. dollar, marking a daily increase of 49.17 soums, according to the regulator’s Telegram channel.

As of 16:00 on July 4, exchange offices at commercial banks were buying dollars at 12,495–12,580 soums and selling at 12,610–12,680 soums.

The Central Bank also set the Russian ruble at 159 soums and the euro at 14,849 soums.

At the same time, commercial banks were buying rubles at 90–150 soums and selling at 160–190 soums. The euro was being bought at 12,800–14,550 soums...

The winners of the second season of ‘Initiative Budget’ will be determined on 1 September. Photo: Press Service of the President of the Republic of Uzbekistan

The second season of the government’s Initiative Budget program will begin on July 15, according to Uzbekistan’s Ministry of Economy and Finance.

Citizens may submit proposals until August 3. The project selection phase will begin on August 4, followed by a promotion stage starting August 19. Voting on the projects will take place from August 22 to 31, and the winners will be announced on Independence Day — September 1.

Launched in...

On July 4, President of Uzbekistan Shavkat Mirziyoyev took part in the 17th Summit of the Economic Cooperation Organization (ECO), held in the city of Khankendi.

In his speech, the President highlighted current challenges in the areas of security and sustainable development. He emphasised the importance of resolving disputes and conflicts through diplomacy and noted that peace in the Middle East is impossible without a just solution to the Israeli-Palestinian issue.

Mirziyoyev proposed the adoption of a strategic framework titled Economic Partnership – 2035. Alongside traditional areas of cooperation, he stressed the need to expand collaboration in innovation, artificial...

The Central Asian region continues to experience uneven but generally moderate economic growth, according to the World Bank’s Global Economic Prospects report released in June 2025. Countries such as Kazakhstan, Uzbekistan, Kyrgyz Republic and Tajikistan face a combination of weakening external demand, tighter global financial conditions and increasing climate risks.

Kazakhstan

Kazakhstan’s economic expansion is forecast to slow from 4.8% in 2024 to 4.5% in 2025 and further to 3.5% in 2026. The country continues to face weaker external demand, particularly from the euro area and China, which affects commodity exports. As a major energy exporter, Kazakhstan is...

What qualities make a true leader? What helps someone not only survive in an age of war and upheaval, but go on to inspire others, build empires and be remembered not just as a conqueror, but as a man of culture?

Zahir al-Din Muhammad Babur (1483–1530) — poet, strategist, memoirist and founder of the Baburid Dynasty (Mughal Empire) — offered clear answers. His Baburnama is not just an autobiography but a remarkable guide to leadership, decision-making and responsibility to one’s people and state.

In this article we have gathered eight timeless lessons in leadership drawn from Babur’s life — not...

Central banks worldwide increased their gold reserves by a net 20 tonnes in May, according to newly released data from the World Gold Council. While this figure marks a slight rise from April, it remains below the 12-month average of 27 tonnes, reflecting a more measured pace of accumulation.

The National Bank of Kazakhstan led global purchases in May, adding 7 tonnes of gold to its reserves, bringing its total holdings to 299 tonnes. Since the start of 2025, Kazakhstan has expanded its gold reserves by 15 tonnes.

Turkey and Poland followed closely, each acquiring 6 tonnes. Notably, the...

On July 1, a permanent showroom under the brand Made in Uzbekistan began operations at the Turkish Trade Centre in Baku, according to Uzbekistan’s Ministry of Investments, Industry and Trade.

The opening ceremony was attended by Deputy Minister of Investments, Industry and Trade of Uzbekistan Khurram Teshabayev and Deputy Minister of Economy of Azerbaijan Samed Bashirli.

The showroom takes up 1,500-square metre space and features products from Uzbekistan’s light and electrical industries, as well as furniture, construction materials, leather goods and textiles.

As part of the event, an agreement was signed between Okuglu Holding and the O‘zsanoatqurilishmateriallari Association for...

Round-the-clock SIM card sales points have opened at Tashkent International Airport. On the first floor of the departure hall, GLOBAL SIM stands are now operating, where travellers can also get a Russian SIM card free of charge.

An additional kiosk under the Happytel brand is available in the sterile zone of the departure terminal.

The airport administration warns that SIM cards offered by individuals on airport grounds are unofficial, and the administration is not responsible for their functionality.

Kursiv Uzbekistan reports that Uzbekistan had opened its airspace to Air China.

World judo champion and Paris 2024 Olympic gold medallist Diyora Keldiyorova has been elected as a member of the International Judo Federation (IJF) Athletes’ Commission, UZA reports.

The list of candidates for the commission was announced during the senior World Judo Championships held from 13 to 19 June this year in Budapest, Hungary. A total of 20 judokas from various continents were nominated. Of these, five were put forward by continental judo confederations and four by the IJF Executive Committee.

Following the vote, nine athletes were selected to join the IJF Athletes’ Commission. Among representatives from South Africa, Japan...

UNPO Tourism Secretary General Zurab Pololikashvili is at the event. Photo: Unsplash

The international dialogue of the World Tourism Alliance (WTA) titled Silk Road Tourism has opened in Samarkand, according to Uzbekistan’s Tourism Committee. The forum has brought together 250 participants.

Alongside WTA, the forum is organized by Uzbekistan’s Tourism Committee and Ministry of Ecology, with support from China’s Ministry of Culture.

«The event strengthens Uzbekistan’s image as one of Central Asia’s leading travel destinations and opens up new opportunities for the development of international tourism, cultural exchange, and mutually beneficial cooperation in the region...

Weather in Tashkent on 4th July. Photo: Unsplash

On Friday, July 4, air temperatures in Tashkent are expected to rise to between +41°C and +43°C, according to UzHydromet.

In other regions of Uzbekistan, forecasters predict highs of +38°C to +43°C, while in the southern and desert areas, temperatures could soar to +44°C–+46°C.

In mountainous areas, temperatures will range between +30°C and +35°C. Wind speeds may also increase, reaching 13–18 m/s (6–8 on the Beaufort scale out of 12).

Kursiv Uzbekistan reports tips on how to stay safe during extreme heat in Uzbekistan.

The U.S. President Donald Trump said he was left frustrated following a phone conversation with Russian President Vladimir Putin, suggesting Moscow has shown no clear intention to halt its ongoing war in Ukraine, Reuters reports.

Efforts by Washington to bring the conflict to a diplomatic conclusion have largely stalled, while pressure continues to mount on Trump – including from within his own party – to push Putin towards serious negotiations.

Following his discussion with Putin on Thursday, Trump confirmed plans to speak with Ukrainian President Volodymyr Zelensky on Friday, during comments made upon his return to Washington from a...

As part of the 17th Economic Cooperation Organisation (ECO) Summit, President of the Republic of Uzbekistan Shavkat Mirziyoyev, accompanied by President of the Republic of Azerbaijan Ilham Aliyev, visited the Imaret historical and architectural complex in the city of Aghdam.

Heads of delegations from other ECO member states also visited the site.

Aghdam is located in the western part of Azerbaijan in the Karabakh region. Since 2021, the city has undergone large-scale reconstruction, with new schools, kindergartens, residential buildings and government facilities being developed.

The Imaret complex contains the palace and mausoleum of Panah Ali Khan, founder of the...

Kazakhstan, Azerbaijan and Uzbekistan have jointly launched the Green Corridor Union, a regional venture focused on exporting renewable electricity to Europe. The entity, headquartered in Baku, will coordinate development of the Azerbaijan–Central Asia Green Energy Corridor.

The agreement was signed on July 1, 2025 by Azerenergy Vice-President Ziyaddin Guliyev, KEGOC representative Saltanat Shunayeva, and Feruz Kurbonov from the National Electric Networks of Uzbekistan. The Union aims to strengthen cross-border cooperation in green power generation and transmission.

The initiative supports strategic goals set during COP29, where the three presidents endorsed a partnership for green energy development. A broader implementation programme...

President Vladimir Putin has officially recognised the Taliban-led Islamic Emirate of Afghanistan following a proposal from Foreign Minister Sergey Lavrov, Russian Ambassador to Kabul Dmitry Zhirnov announced on Rossiya-1 TV.

Zhirnov described the decision as a signal of Russia’s «genuine intention to build a full-fledged partnership» with Afghanistan. With this move, Russia becomes the first country in the world to formally recognise the Taliban government.

The Afghan embassy in Moscow now flies the flag adopted by the Taliban movement.

Which countries maintain diplomatic contacts with the Taliban?

President of Uzbekistan Shavkat Mirziyoyev and President of Azerbaijan Ilham Aliyev have visited the Businesstex JV textile factory in Khankendi, according to Azerbaijan’s state news agency Azertac.

The joint Uzbek-Azerbaijani enterprise launched operations in autumn 2024, with both leaders attending the official opening. Initial investment in the project totalled $3.5 mln (6 mln manats). The Azerbaijan Entrepreneurship Development Fund also extended a loan of $2 mln (3.5 mln manats).

The factory produces a range of men’s and women’s clothing, with a daily output of 2,500 units. It sources raw materials from Uzbekistan, Azerbaijan and China.

Authorities have...

On the sidelines of the Economic Cooperation Organisation (ECO) Summit in the city of Khankendi, President of the Republic of Uzbekistan Shavkat Mirziyoyev held talks with Mullah Abdul Ghani Baradar, Acting Deputy Prime Minister of Afghanistan for Economic Affairs, the president’s press service reports.

The parties discussed current issues related to expanding mutually beneficial cooperation in trade, transport, logistics and energy.

Particular attention was given to the continued growth in trade turnover and the number of joint ventures.

Business contacts have intensified. In May this year, Uzbekistan opened trading houses in Kabul and Mazar-i-Sharif. In June, a Preferential Trade...

Tashkent authorities have signed agreements totalling $400 mln with Azerbaijani companies, according to Sharof Rakhmanov, Deputy Mayor of the Uzbek capital. He made the announcement during an interview with Uzbekistan 24 TV.

The planned projects include the construction of hotels, a shopping centre, restaurants and cafés. Rakhmanov highlighted the development of the Uzbekistan Park in Baku as a strategic initiative.

Earlier, Azerbaijani President Ilham Aliyev called Uzbekistan a highly attractive destination for investment.

“Both Uzbekistan and Azerbaijan are not only actively investing in the development of their own economies but are also expanding their capital...

US President Donald Trump has announced via Truth Social that he plans to sign the new budget and tax bill on July 4, America’s Independence Day.

He described the bill, passed by Congress, as «big and beautiful,» stating that its signing would mark the beginning of a new «Golden Age» for the United States.

The bill includes provisions to increase the national debt by $3.3 trillion and cut social spending while boosting defence expenditure.

However, the legislation has drawn criticism from one of Trump’s former allies — Elon Musk. The businessman previously labelled the bill...

Quarter-final bouts continued yesterday on June 3 at the World Boxing Cup: Kazakhstan – Astana 2025, held at the Zhaksylyk Ushkempirov Martial Art Palace.

36 quarter-final matches were held in two sessions. All winners progressed to the semi-finals and secured bronze medals.

Nigeria’s Patricia Mbata won 5:0 against Poland’s Aleksandra Cyrek in the women’s 70kg category, marking Nigeria’s first win in the competition. In the men’s 60kg, Luiz Oliveira of Brazil defeated India’s Sachin Sachin in a 3:2 split decision.

Germany’s Nikita Putilov, a former World Boxing Cup gold medallist, advanced to the semi-final with a 5:0 win over...

The Center for Economic Research and Reforms (CERR), in collaboration with IT Park, has released a comprehensive new study assessing the business environment for foreign IT professionals and companies in Uzbekistan. The findings highlight the country’s rapid transformation into a regional IT hub, underpinned by a stable macroeconomic environment, favorable tax policies, and growing international integration.

A Growing IT Ecosystem

The study, based on surveys of foreign specialists and companies, as well as focus groups with IT Park residents, paints a positive picture of Uzbekistan’s IT sector. According to CERR, 96% of surveyed companies and 82% of foreign professionals...

Anorbank has issued a statement regarding the kidnapping of a shareholder in Paris, stressing that the incident is personal and unrelated to the bank’s operations.

The bank confirmed that all branches and digital services are functioning as usual, and all projects are progressing according to plan.

Anorbank also called on the media to observe ethical standards, avoid spreading unverified information, and respect the privacy of those involved. The bank noted that excessive public discussion could impact the official investigation.

According to French outlet Le Monde, Kakhramonjon Olimov, an Uzbek banker and owner of Anorbank, was kidnapped in Paris on June...

The Central Bank of Uzbekistan has set the official USD exchange rate at 12,557.56 UZS for July 4. The dollar dropped by 34.15 UZS in a single day, according to the regulator’s Telegram channel.

As of 16:00 Tashkent time, exchange offices are buying USD for 12,495–12,580 UZS and selling it for 12,620–12,680 UZS.

The Russian ruble was set at 159 UZS, and the euro at 14,809 UZS.

At the same time, banks are buying rubles for 90 to 150 UZS and selling them for 161 to 190 UZS. The euro is being bought for 12,800 to 14,550 UZS...