Kursiv Uzbekistan (Eng)

🏦 Uzbekistan Narrows Bank Privatisation to SQB — Fitch 🇺🇿 Uzbekistan has streamlined its bank privatisation plan to focus on Uzbek Industrial and Construction Bank (SQB), according to Fitch Ratings. 📊 The move aims to make SQB a pilot model for future state bank sales, though large-scale privatisation isn’t expected soon. 💰 A recent $300 mln AT1 bond boosted SQB’s capital, paving the way for $2.1 bn in new lending and stronger profitability. 📅 Privatisation of Asakabank and Aloqabank is now expected after 2026, as both face policy and capital challenges. Telegram/Site/LinkedIn

💰 ADB Grants $300M to Boost Microfinance and Women Entrepreneurs in Uzbekistan 🏦 The Asian Development Bank has approved a $300 mln loan, including $100 mln concessional, to expand access to finance for micro, small and medium enterprises — especially women-led businesses. 👩‍💼 The programme will raise microloan limits, join the Women’s Entrepreneurship Finance Principles, and create a framework for Islamic microfinance. 📲 Reforms also include stronger consumer protection, digital finance oversight, and gender quotas in financing. 🇺🇿 ADB’s support marks 30 years of partnership with Uzbekistan, totalling $14.6 bn in loans, grants, and technical aid since 1995. Telegram/Site/LinkedIn

🔋 Masdar to Build Uzbekistan’s Largest Battery Energy Storage Project 🇦🇪 Abu Dhabi’s Masdar has signed an agreement with JSC Uzenergosotish to develop Uzbekistan’s largest standalone battery energy storage system (BESS) in Zarafshan. ⚡️ The first phase will store up to 300MW or 600MWh of electricity, enough to power 1.3 mln homes for two hours, and is set to begin operations in Q3 2028. 🌞 The project supports Uzbekistan’s goal of generating 54% of electricity from renewables by 2030, boosting grid reliability and flexibility. 🤝 The agreement was signed in the presence of energy ministers from both countries. UAE Minister Suhail Al Mazrouei said the project aligns with the UAE’s and Uzbekistan’s shared clean energy ambitions. Telegram/Site/LinkedIn

💰 Kyrgyzstan Launches World’s First Gold-Backed Stablecoin USDKG 🇰🇬 Kyrgyzstan has officially introduced USDKG, the first government-issued stablecoin fully backed by physical gold. 💵 Pegged 1:1 to the U.S. dollar, each token is secured by gold under state control, combining traditional asset reliability with blockchain transparency. 📈 Listings on centralized and decentralized exchanges are expected soon as part of a national pilot to boost the digital economy and financial sovereignty. 🌏 The project is separate from Kyrgyzstan’s other digital finance initiatives, including the KGST stablecoin and the digital sum, which remain under review. Telegram/Site/LinkedIn

⚽️ Turkey Arrests Officials and Suspends 1,024 Players Over Betting Scandal 🚨 Turkish authorities have arrested eight people, including top club chairman Murat Ozkaya, in a major investigation into match betting. The Turkish Football Federation has suspended 1,024 players across all leagues. 🏟 Among those suspended are 27 Super Lig players, including from Galatasaray and Besiktas. Matches in the second- and third-tier leagues are halted for two weeks. 📄 The federation has referred all suspended players to the Professional Football Disciplinary Council and has requested FIFA approval for a special 15-day transfer period so clubs can replace affected squad members. 💥 TFF president Ibrahim Haciosmanoglu called the scandal a “moral crisis”, after investigators found 371 referees held betting accounts, with 152 actively placing wagers, including one referee who made 18,227 bets. Telegram/Site/LinkedIn

📱 Uzbekistan Imports 3.2 Mln Mobile Phones in 2025 📈 Uzbekistan imported 3.2 mln mobile phones in the first nine months of 2025, up 7.4% from the same period last year, with a total value of $370.8 mln. 🌏 China remained the top supplier with over 2.5 mln phones, followed by Vietnam (619,200) and the UAE (65,300). India and South Korea also contributed smaller shares. 💻 In addition, Uzbekistan purchased $744.1 mln worth of telecom equipment by early November, slightly down 3% from 2024. Telegram/Site/LinkedIn

🛢 Lukoil Declares Force Majeure in Iraq Amid Sanctions Pressure ⚠️ Lukoil has declared force majeure at the West Qurna-2 oil field in Iraq due to growing US sanctions, while Bulgaria moves to take control of the company’s Burgas refinery. 🌍 West Qurna-2 is one of the world’s largest oil fields, producing around 480,000 barrels per day and contributing 9% of Iraq’s output. The force majeure protects Lukoil from penalties for contract non-fulfillment amid halted payments and suspended shipments. 👷‍♂️ All non-Russian foreign staff contracts have been terminated, leaving only Russian and Iraqi personnel on site. 🇧🇬 In Bulgaria, authorities are preparing to take over the Burgas refinery, with legal changes allowing transfer of operations to a new buyer if needed. Telegram/Site/LinkedIn

🏗 Akfa Starts $600M Manufacturing Project in Kentucky 🇺🇿 Uzbek company Akfa has begun construction of a major manufacturing plant in Kentucky, with total investment estimated at $600 mln. 🏭 The new facility will produce aluminium products, automotive components and parts for solar panels. The first investment phase amounts to $105 mln, and a Turkish partner has joined the project. 🤝 The move comes as Uzbekistan expands economic cooperation with the United States, including plans to invest up to $35 bn by 2028 and over $100 bn in the next decade. ✈️ Tashkent will also purchase 22 Boeing aircraft and import soybean products, while cooperation is growing in AI technologies, including planned purchases of NVIDIA systems for a national AI cluster. Telegram/Site/LinkedIn

🌍 More US Travellers Coming to Uzbekistan 📈 Uzbekistan welcomed 28,600 visitors from the United States in January–September 2025, up 22.4% from the same period last year. 🧳 Tourism led the way with 23,600 arrivals, while 2,400 Americans came for business and around 2,100 visited relatives. ✈️ Starting early next year, US citizens will be able to visit Uzbekistan visa-free for stays of up to 30 days. Telegram/Site/LinkedIn

🔥 Kazakhstan to Increase Russian Gas Transit to Uzbekistan in 2025 ⛽️ QazaqGaz expects Russian gas transit to Uzbekistan to rise to about 6 bn cubic metres in 2025, up from roughly 5.6 bn cubic metres this year. 🚧 The gas flows are transported via the Central Asia–Centre pipeline. Maintenance works identified more than 10,000 defects, with around 6,000 already repaired so far. 📈 Currently, 178 mln cubic metres per day are delivered. The transit capacity may later be expanded to up to 11 bn cubic metres a year, with infrastructure upgrades underway. 💰 From January to early October, Uzbekistan imported $932.3 mln worth of gas, down 29.7% year-on-year, while exports reached $546.2 mln, showing 15.4% growth. Telegram/Site/LinkedIn

🤖 Uzbekistan Deepens Cooperation with NVIDIA on AI Development 🇺🇸 Uzbekistan is expanding its partnership with NVIDIA to accelerate national AI strategy and digital transformation, following talks held in the US. 🎓 The cooperation focuses on training specialists, building AI research capacity and introducing high-performance computing into major economic sectors. 🏛 A Centre for AI Excellence will be created to train university faculty, engineers and IT experts using NVIDIA’s global education programs. 🧠 Uzbekistan will also launch AI clusters: one for universities and research organisations and another to support solutions in areas including public administration, healthcare, industry and digital services. 🖥 Several universities will be equipped with new NVIDIA-powered computing infrastructure, with procurement beginning in late 2025. 🔧 Longer term, the country plans to develop industrial AI such as digital twins, robotics and predictive analytics, supported by a new Applied AI Innovation Hub expected to launch in 2026. 🌐 Officials say the partnership will help Uzbekistan integrate global expertise and strengthen the foundations of a competitive digital economy. Telegram/Site/LinkedIn

🇺🇿 Ziroat Mirziyoyeva named among the 100 most influential women in oncology🌍🎗️ Uzbekistan’s First Lady, Ziroat Mirziyoyeva, has been recognized by OncoDaily among the Top 100 women shaping global oncology efforts in 2025. 🌱 Advancing Childhood Cancer Care As Chair of the Board of Trustees of the Zamin International Public Foundation, Mirziyoyeva champions: • Early detection and treatment for pediatric cancer • Equitable access to care in developing regions • International collaboration in pediatric oncology 🇺🇳 Global Advocacy at the UN In September 2025, she chaired a landmark forum at the UN General Assembly: “Global Movement to Improve Survival and Reduce Suffering of Children with Cancer and Other Life-Threatening Diseases” organized with: • WHO • St. Jude Children’s Research Hospital The initiative calls for raising global childhood cancer survival rates to 60% by 2030. Telegram/Site/LinkedIn