A highlight of the WIPO Assembly will be events commemorating the 30th anniversary of the Eurasian Patent Organization (EAPO), including a session of
Finance
The decision follows a previous rate cut on May 31, when the NBK reduced the rate from 14.75% to 14.5% per annum.
Transparency and access to information are vital in reducing corruption risks. While existing laws establish citizens' rights to access information, c...
The discontinuation of Mir card services in Kyrgyzstan initially occurred in response to requests from European partners, who expressed concerns over
This includes penalties for violations of energy efficiency standards.
Currently, the Accounts Chamber conducts external audits covering only 86% of total expenditures, focusing on budget and trust fund expenses.
This new system will initially be implemented in Tashkent and Navoi regions, with a nationwide rollout planned by September 1, 2025. Under this system...
Additionally, Aloqa's Viability Rating (VR) has been set at 'b'.
These cases resulted in the recalculation of 15.9mn kWh of electricity
Fitch Ratings has upgraded Xalq Banki’s viability rating (VR) from 'ccc+' to 'b-', reflecting improved capital metrics.
Construction of the textile-industrial park began in February 2023, and the project is scheduled for completion and launch in the fourth quarter of 20...
The auction starts with a minimum bid of UZS 113.35bn ($9mn). Interested parties must submit applications by August 5, with the auction results to be
Fitch utilized its Bank Rating Criteria effective from March 15, 2024, to determine these ratings.
In the Zaamin region, approximately 300 projects worth UZS 1.8 trillion ($143 mn) have been implemented over the past five years, resulting in the cre...
To further enhance the livestock sector, instructions were given to improve breeding practices, and focus on the production and export of high-value p...
This figure marks a 0.5% increase compared to the same period in 2023.
The CIS Free Trade Zone played a pivotal role in enhancing Uzbekistan's overall foreign trade turnover.
The state's share in the joint venture Uz-Dongju Paint was first put up for sale in October 2022.
The auction lasted for 34 minutes and involved 14 bidding steps.
The funds will be used to replenish the group’s working capital, allowing them to open new physical locations and develop a robust online sales platfo...
This credit line follows a previous $10mn credit line from responsAbility's Green Climate Partnership Fund (GCPF), aimed at expanding TBC Bank Uzbekis...
Uztemiryulovchi and Temiryulexpress, have been recognized as dominant players in the field of passenger rail transport services.
This initiative aims to enhance the competitiveness of Uzbek jewelry in the global market.
Fitch believes that Gross Insurance's investment portfolio is of higher credit quality and more diversified compared to other local peers. Gross Insur...
Companies from the United Arab Emirates (UAE), Afghanistan, and Uzbekistan purchased aviation kerosene and polypropylene from the national oil company...
BHSI, a key player in the insurance and reinsurance sectors, has a turnover exceeding almost $75bn. The company is discerning in its partnerships, col...
As per to the Statistics Agency, a total of 374,400 live births were registered in Uzbekistan between January and May 2024.
This increase follows the redistribution of more than 320,000 shares from Russia's paid-up authorized capital in the bank.
Additionally, the committee included two organizations in the register of microfinance organizations, re-registered licenses for 13 microfinance organ...
The extension of the US sanctions package targets any foreign financial institution that engages with sub-sanctioned Russian entities, effectively lin...
Despite the disruption, the central bank assured Russian citizens that their deposits in U.S. dollars and euros remained secure.
For 2024, the EIA anticipates Kazakhstan's crude production to reach 1.95 mb/d, setting the stage for a year-over-year increase of 0.13 mb/d by 2025. ...
A key result of this partnership is the potential for cardholders from Uzbekistan and Kyrgyzstan to conduct transactions in each other’s countries wit...
The investigation revealed that the company deliberately underestimated the volume of goods available for sale, resulting in a price increase of 10-50...
Despite these measures, asset-quality pressures are expected to intensify in 2024-2025 as legacy loans issued under less stringent underwriting standa...
The subsidies and compensation will be implemented starting June 1, 2024, financed by the fund supporting persons working abroad and protecting their
This achievement surpasses the bank’s initial goal of GEL 1 bn ($357bn).
The plan to reduce the share of gold in Uzbekistan's foreign exchange reserves has been under consideration since 2019. Two years ago, the Central Ban...
In 2023, the company entered new markets, such as the United States, Mexico, and Finland, specifically for copper rod and copper sulfate.
With established safety standards and major demand for scrap, Uzmetkombinat is in a favorable position to maintain and potentially expand its market s...
The state currently holds a 67% share of total banking assets, which poses a major hurdle to successful privatization efforts.
These plans will be crafted with the assistance of consultants from Russia, Turkey, China, and other countries, ensuring a blend of international expe...
The leading destinations for remittances from Kazakhstan in April 2024 were: Russia: $47.7 mn, accounting for 32.3% of the total transfers; Uzbekistan...
The state asset management agency (SAMA) has put up for sale multi-storey buildings belonging to Asakabank, SQB and Aloqabank in Tashkent City.
The forecast includes detailed revenue and expenditure plans across various budget segments.
Over the past five years, Uzbekistan's processing industry has expanded by 1.4 times, with a notable increase in the Bukhara region where the industry...
The initial phase of the project will see the construction of a solar power station with an investment of $150 mn. This station will generate 200 MW a...
Additionally, measures will be taken to verify the authenticity of documents serving as the basis for tax and customs benefits through data exchange w...