Issue 487 - 23.10.2019
23.10.2019

Enterprises with foreign capital produced almost a third of industrial products in Uzbekistan

Over the first 9 months of 2029, enterprises with foreign investment produced products worth 71.2 trillion soum. The share of products of enterprises with foreign capital in the total volume of production amounted to 30.3%.

In the total output of enterprises with foreign investment, their share in the mining industry and quarrying amounted to 26.5%, manufacturing to 73.4%.

The number of enterprises with foreign capital in Uzbekistan over 9 months of 2019 exceeded 9,700. Official statistics recorded that their number in January-September of this year increased to 9,732. Compared to the same period last year, the number of enterprises with foreign investments increased by 2,772 or by 39.8%. The bulk of enterprises with foreign capital belong to Russia, Turkey, China, Korea and Kazakhstan.

As of October 1, 2019, the city of Tashkent accounted for 5,778 operating enterprises with foreign capital. The three regions that are preferable for foreign capital include, in addition to the capital, Tashkent region, where 1,066 enterprises with foreign capital operate and Samarkand, where 500 such enterprises operate.

4,891 enterprises with foreign capital are joint ventures, 4841 are foreign.

34.4% of operating enterprises with foreign capital are in industry and 24.3% are in trade.

Construction accounted for 7.6%, agriculture, forestry and fisheries for 5.5%, and accommodation and food services for 4.4%.

Reported by News of Uzbekistan.

Uzbekistan General

23.10.2019

British law university plans to open branch in Tashkent

It is planned to open a branch of the British legal university in Tashkent.

“On October 18, the Minister of Justice of Uzbekistan Ruslanbek Davletov held talks with the leadership of the University of Law of Great Britain for the speedy implementation of the project to create a university branch in...

It is planned to open a branch of the British legal university in Tashkent.

“On October 18, the Minister of Justice of Uzbekistan Ruslanbek Davletov held talks with the leadership of the University of Law of Great Britain for the speedy implementation of the project to create a university branch in...

Finance and Investment

23.10.2019

Uzbekistan's commercial banks to receive revenue from overseas offices of Uzbekistan Airways

Commercial banks of Uzbekistan will receive revenue from Uzbekistan Airways overseas offices. According to the Ministry of Justice, the government’s decree On measures to further streamline the operation of the accounts of Uzbekistan Airways representative offices opened abroad, dated October 18, 2019, was adopted.

“According to the decree, starting from January...

Commercial banks of Uzbekistan will receive revenue from Uzbekistan Airways overseas offices. According to the Ministry of Justice, the government’s decree On measures to further streamline the operation of the accounts of Uzbekistan Airways representative offices opened abroad, dated October 18, 2019, was adopted.

“According to the decree, starting from January...

23.10.2019

Uzbekistan signs agreements for US$250m at regional forum

The I International Investment Forum has ended in Andijan. According to its results, agreements for US$250 million were signed, Dunyo news agency reported.

The event, organized by the khokimiyat of Andijan region with the support of the Ministry of Foreign Affairs of Uzbekistan and the Embassy of our country in India,...

The I International Investment Forum has ended in Andijan. According to its results, agreements for US$250 million were signed, Dunyo news agency reported.

The event, organized by the khokimiyat of Andijan region with the support of the Ministry of Foreign Affairs of Uzbekistan and the Embassy of our country in India,...

23.10.2019

Uzbek Davr-Bank outlook revised to positive on resilient asset quality; B-/B ratings affirmed

S&P Global Ratings had revised its outlook on Davr-Bank to positive from stable, and affirmed its ‘B-/B’ issuer credit ratings.

“We revised the outlook to positive because Davr-Bank’s asset quality metrics over the last five years have shown resilience. Specifically, credit costs have been below 0.6% of the average loan book...

S&P Global Ratings had revised its outlook on Davr-Bank to positive from stable, and affirmed its ‘B-/B’ issuer credit ratings.

“We revised the outlook to positive because Davr-Bank’s asset quality metrics over the last five years have shown resilience. Specifically, credit costs have been below 0.6% of the average loan book...

23.10.2019

Bulls turn back to greenback as UK honourable deputies return to confusion

The US dollar rose on Tuesday against the pound and euro as uncertainty spread ahead of the British parliament’s vote on the Withdrawal Agreement Bill which will shine light on when and how Britain will exit the EU.

The United Kingdom is expected to leave the European Union on Oct. 31,...

The US dollar rose on Tuesday against the pound and euro as uncertainty spread ahead of the British parliament’s vote on the Withdrawal Agreement Bill which will shine light on when and how Britain will exit the EU.

The United Kingdom is expected to leave the European Union on Oct. 31,...

Oil and Gas Sector

23.10.2019

Uzbekistan reduces up- and midstream oil, oil products output

According to the State Statistics Committee, in January-September 2019, production of petrol in the country fell by 13.2%.

It was noted that during the same period in 2018, Uzbekistan produced 873,200 tons of gasoline, and in 2019 758,100 tons.

There has also been a decline in the production of diesel fuel by...

According to the State Statistics Committee, in January-September 2019, production of petrol in the country fell by 13.2%.

It was noted that during the same period in 2018, Uzbekistan produced 873,200 tons of gasoline, and in 2019 758,100 tons.

There has also been a decline in the production of diesel fuel by...

23.10.2019

Epsilon jointly with Uzbekneftegaz to restore emergency and low-rate wells in Shurtan

On October 22, after hydraulic fracturing at the Rubayi-11 well, an inflow of oil up to 15 tons per day was obtained, the press service of Epsilon reported.

Also, flow rate of oil increased from 1 to 6 tons and gas – from 10 to 50 thousand cubic meters at Yangi...

On October 22, after hydraulic fracturing at the Rubayi-11 well, an inflow of oil up to 15 tons per day was obtained, the press service of Epsilon reported.

Also, flow rate of oil increased from 1 to 6 tons and gas – from 10 to 50 thousand cubic meters at Yangi...

23.10.2019

Brent veers up despite global economy jitters

Oil prices rose on Tuesday after China signaled progress in trade talks with the United States, but gains were capped by bearish forecasts of a buildup in U.S. crude stockpiles. Brent crude oil was up 66 cents at $59.62 a barrel by 1337 GMT, while U.S. West Texas Intermediate crude...

Oil prices rose on Tuesday after China signaled progress in trade talks with the United States, but gains were capped by bearish forecasts of a buildup in U.S. crude stockpiles. Brent crude oil was up 66 cents at $59.62 a barrel by 1337 GMT, while U.S. West Texas Intermediate crude...

23.10.2019

North Sea regional gas trade revisits equilibrium between supply and demand

British prompt gas prices rose on Tuesday morning supported by a drop in Norwegian flows and expectations of higher demand from later this week.

The day-ahead gas price rose by 1.25 pence to 25.00 p/therm by 0835 GMT.

The within-day price rose by 1.00 p to 25.00 p/therm.

Norwegian gas export fell as...

British prompt gas prices rose on Tuesday morning supported by a drop in Norwegian flows and expectations of higher demand from later this week.

The day-ahead gas price rose by 1.25 pence to 25.00 p/therm by 0835 GMT.

The within-day price rose by 1.00 p to 25.00 p/therm.

Norwegian gas export fell as...

Trade and Consumer Goods

23.10.2019

Uzbekistan’s foreign trade turnover in January-September amounts to US$31.64 billion

In January-September 2019, the foreign trade turnover of Uzbekistan made up US$31.64 billion and increased by US$8.57 billion, or by 37.2% more than the corresponding period of last year.

According to the State Statistics Committee of Uzbekistan, of this number, exports reached US$13.67 billion (growth rate - 45.5%), while imports reached...

In January-September 2019, the foreign trade turnover of Uzbekistan made up US$31.64 billion and increased by US$8.57 billion, or by 37.2% more than the corresponding period of last year.

According to the State Statistics Committee of Uzbekistan, of this number, exports reached US$13.67 billion (growth rate - 45.5%), while imports reached...

Agriculture

23.10.2019

Russia/FSU price hike lifts wheat benchmark futures

Chicago soybeans rose on Tuesday, buoyed by market optimism over the prospect of U.S. sales to China while progress with the U.S. soybean and corn harvests was slower than usual.

Wheat was underpinned by rising prices in major exporter Russia, coupled with continued concerns over the Australian and Argentine harvests.

The Chicago...

Chicago soybeans rose on Tuesday, buoyed by market optimism over the prospect of U.S. sales to China while progress with the U.S. soybean and corn harvests was slower than usual.

Wheat was underpinned by rising prices in major exporter Russia, coupled with continued concerns over the Australian and Argentine harvests.

The Chicago...

Metals and Minerals

23.10.2019

Most buyers of Uzbek gold are foreign countries

As follows from the official statistics, the main consumers of Uzbek gold are foreign countries. Nearly $4 billion worth of precious metal was shipped to these states over 9 months of 2019. According to the State Statistics Committee, gold continues to play a dominant role in Uzbek exports. Over the...

As follows from the official statistics, the main consumers of Uzbek gold are foreign countries. Nearly $4 billion worth of precious metal was shipped to these states over 9 months of 2019. According to the State Statistics Committee, gold continues to play a dominant role in Uzbek exports. Over the...

23.10.2019

Precious metals gain through the day as bullion remains capped below $1,500 threshold

Gold prices inched higher on Tuesday ahead of a crucial vote by British lawmakers on the Brexit withdrawal agreement, although prospects for a U.S.-China trade deal limited bullion’s gains.

Spot gold was up 0.2% at $1,487.63 per ounce as of 1042 GMT, having hit a roughly one-week low of $1,480.44. U.S....

Gold prices inched higher on Tuesday ahead of a crucial vote by British lawmakers on the Brexit withdrawal agreement, although prospects for a U.S.-China trade deal limited bullion’s gains.

Spot gold was up 0.2% at $1,487.63 per ounce as of 1042 GMT, having hit a roughly one-week low of $1,480.44. U.S....

23.10.2019

Little movement on non-ferrous base metal markets despite unrest in core mining region of South America

Copper prices were flat on Tuesday, as traders gauged the impact of intensifying protests in top producer Chile on supplies.

The union of workers at the world’s largest copper mine, BHP’s Escondida, said they would hold a day-long strike on Tuesday in solidarity with protests rocking Chile.

Benchmark copper on the London...

Copper prices were flat on Tuesday, as traders gauged the impact of intensifying protests in top producer Chile on supplies.

The union of workers at the world’s largest copper mine, BHP’s Escondida, said they would hold a day-long strike on Tuesday in solidarity with protests rocking Chile.

Benchmark copper on the London...

Energy Industry

23.10.2019

South Korean company intends to purchase electric energy from Uzbekistan

The Uzbek Ministry of Energy hosted a meeting between representatives of POSCO International (Republic of Korea) and local administrations of the Fergana region and the city of Kuvasay to discuss the possibility of cooperation on the basis of public-private partnership (PPP).

The parties considered the project for reconstruction of the boiler...

The Uzbek Ministry of Energy hosted a meeting between representatives of POSCO International (Republic of Korea) and local administrations of the Fergana region and the city of Kuvasay to discuss the possibility of cooperation on the basis of public-private partnership (PPP).

The parties considered the project for reconstruction of the boiler...

Manufacturing industry

23.10.2019

Russia’s machinery manufacturers intend to open factories in Uzbekistan

Russia and Uzbekistan have may expand cooperation in specialized engineering, a representative of Rosspetsmash, Russian Association of Manufacturers of Specialized Machinery and Equipment, announced.

"Factories from Russia are interested not only in increasing export supplies, but also in creating joint ventures (JV) in Uzbekistan," the representative said.

The official noted that Russian...

Russia and Uzbekistan have may expand cooperation in specialized engineering, a representative of Rosspetsmash, Russian Association of Manufacturers of Specialized Machinery and Equipment, announced.

"Factories from Russia are interested not only in increasing export supplies, but also in creating joint ventures (JV) in Uzbekistan," the representative said.

The official noted that Russian...

23.10.2019

Uzbekistan increases car production

According to the State Statistics Committee, the production of cars in January-September 2019 increased by 40.4%. 

If 132,774 passenger cars were manufactured in the same period of 2018, then this indicator amounted to 186,432 units in 2019.

Production of trucks increased by 33.2%, in 2018 – 3,024 units and in 2019 –...

According to the State Statistics Committee, the production of cars in January-September 2019 increased by 40.4%. 

If 132,774 passenger cars were manufactured in the same period of 2018, then this indicator amounted to 186,432 units in 2019.

Production of trucks increased by 33.2%, in 2018 – 3,024 units and in 2019 –...

23.10.2019

Uzbekistan attracts Saudi Arabian company to implement Namangan City project

The regional administration of Namangan signed a Memorandum of Understanding with Alqusaier company of Saudi Arabia on implementing the project for the construction of the Namangan City Business Center.

According to the Memorandum signed by the regional khokim Khayrullo Bozorov and the CEO of Alqusaier company Abdul Aziz al-Qusayr, 78 hectares...

The regional administration of Namangan signed a Memorandum of Understanding with Alqusaier company of Saudi Arabia on implementing the project for the construction of the Namangan City Business Center.

According to the Memorandum signed by the regional khokim Khayrullo Bozorov and the CEO of Alqusaier company Abdul Aziz al-Qusayr, 78 hectares...

Regional News

23.10.2019

Russia’s Industrial output growth ticks up in September

Industrial output, in annual terms, increased 3.0% in September, marginally up from August’s 2.9% year-on-year rise. The reading largely reflected a pick-up in the growth of manufacturing output and a faster acceleration in the electricity, gas and steam, and air conditioning supply sector. This more than offset a slowdown in...

Industrial output, in annual terms, increased 3.0% in September, marginally up from August’s 2.9% year-on-year rise. The reading largely reflected a pick-up in the growth of manufacturing output and a faster acceleration in the electricity, gas and steam, and air conditioning supply sector. This more than offset a slowdown in...

23.10.2019

Russia’s stocks, currency resume value increase on strong bond demand

The Russian rouble opened firmer on Tuesday, briefly reaching a near three-month high against the dollar, helped by optimism over U.S-China trade talks and the prospect of strong demand on Wednesday's OFZ treasury bond auctions.

The rouble was 0.1% stronger against the dollar at 63.68 by 0744 GMT, after briefly touching...

The Russian rouble opened firmer on Tuesday, briefly reaching a near three-month high against the dollar, helped by optimism over U.S-China trade talks and the prospect of strong demand on Wednesday's OFZ treasury bond auctions.

The rouble was 0.1% stronger against the dollar at 63.68 by 0744 GMT, after briefly touching...

23.10.2019

New Russian pipeline could derail China's LNG boom

China’s booming natural gas and liquefied natural gas (LNG) demand is set to cool off, with both demand growth and LNG import growth slowing down from the dizzy growth rates of the past few years.

A major natural gas pipeline designed to ship gas from Russia’s eastern natural gas fields to...

China’s booming natural gas and liquefied natural gas (LNG) demand is set to cool off, with both demand growth and LNG import growth slowing down from the dizzy growth rates of the past few years.

A major natural gas pipeline designed to ship gas from Russia’s eastern natural gas fields to...

23.10.2019

Consistent commitment to state support for industries pushes China’s paper further up

China stocks recouped earlier losses to end higher on Tuesday, bolstered by tech firms as investors cheered their solid earnings as Beijing seeks to support the sector amid a bruising trade war.

The blue-chip CSI300 index rose 0.4%, to 3,895.88, while the Shanghai Composite Index added 0.5% to 2,954.38.

U.S. President Donald...

China stocks recouped earlier losses to end higher on Tuesday, bolstered by tech firms as investors cheered their solid earnings as Beijing seeks to support the sector amid a bruising trade war.

The blue-chip CSI300 index rose 0.4%, to 3,895.88, while the Shanghai Composite Index added 0.5% to 2,954.38.

U.S. President Donald...

23.10.2019

China issues bonds worth 3.7 trln yuan in September

China issued bonds worth 3.7 trillion yuan (about 523.1 billion U.S. dollars) last month, the country's central bank said Monday.

Treasury bonds issued reached 358.19 billion yuan in September, while local government bonds issued stood at 219.58 billion yuan, data from the People's Bank of China (PBOC) showed.

Spot transactions of bonds...

China issued bonds worth 3.7 trillion yuan (about 523.1 billion U.S. dollars) last month, the country's central bank said Monday.

Treasury bonds issued reached 358.19 billion yuan in September, while local government bonds issued stood at 219.58 billion yuan, data from the People's Bank of China (PBOC) showed.

Spot transactions of bonds...

23.10.2019

China's private, smaller enterprises report faster industrial output growth

China's private and smaller industrial companies posted faster-than-average growth in industrial output during the first three quarters, an offical said Tuesday.

Industrial output of private, small and medium-sized industrial enterprises jumped by 8 percent and 7.1 percent, respectively, with a 5.6-percent increase in the entire industrial sector, Huang Libin, spokesperson with...

China's private and smaller industrial companies posted faster-than-average growth in industrial output during the first three quarters, an offical said Tuesday.

Industrial output of private, small and medium-sized industrial enterprises jumped by 8 percent and 7.1 percent, respectively, with a 5.6-percent increase in the entire industrial sector, Huang Libin, spokesperson with...

23.10.2019

China's financial sector offers better support for real economy

China's financial sectors reported improved quality and efficiency in serving the real economy in the first three quarters, according to the country's top banking and insurance regulator.

During the January-September period, China's new yuan-denominated loans to the real economy totaled 13.9 trillion yuan (about 196.5 billion U.S. dollars), Huang Hong, vice...

China's financial sectors reported improved quality and efficiency in serving the real economy in the first three quarters, according to the country's top banking and insurance regulator.

During the January-September period, China's new yuan-denominated loans to the real economy totaled 13.9 trillion yuan (about 196.5 billion U.S. dollars), Huang Hong, vice...

Prices and Statistics

23.10.2019

Commodities

Date: October 23, 2019; Source: Bloomberg.com Energy
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 54.04 -0.44 -0.81% Dec 2019 1:13 AM
CO1:COMBrent Crude (ICE) USD/bbl. 59.40 -0.30 -0.50% Dec 2019 1:12 AM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 160.14 -0.75 -0.47% Nov 2019 1:00 AM
NG1:COMNatural Gas (Nymex) USD/MMBtu 2.27 0.00 0.00% Nov 2019 1:13 AM
HO1:COMHeating Oil (Nymex) USd/gal. 193.85 -0.52 -0.27% Nov 2019 1:04 AM
Precious and Industrial Metals
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
GC1:COMGold (Comex) USD/t oz. 1,493.00 +5.50 +0.37% Dec 2019 1:13 AM
XAUUSD:CURGold Spot USD/t oz. 1,490.00 +2.32 +0.16% N/A 1:23 AM
SI1:COMSilver (Comex) USD/t oz. 17.56 +0.06 +0.34% Dec 2019 1:13 AM
HG1:COMCopper (Comex) USd/lb. 262.25 -1.05 -0.40% Dec 2019 1:12 AM
XPTUSD:CURPlatinum Spot USD/t oz. 893.24 +1.66 +0.19% N/A 1:23 AM
Agriculture
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
C 1:COMCorn (CBOT) USd/bu. 389.00 +1.00 +0.26% Dec 2019 1:10 AM
W 1:COMWheat (CBOT) USd/bu. 519.75 +1.75 +0.34% Dec 2019 1:13 AM
CC1:COMCocoa (ICE) USD/MT 2,448.00 -26.00 -1.05% Dec 2019 10/22/2019
CT1:COMCotton #2 (ICE) USd/lb. 64.50 -0.17 -0.26% Dec 2019 1:13 AM
LC1:COMLive Cattle (CME) USd/lb. 113.70 -0.17 -0.15% Dec 2019 10/22/2019

Date: October 23, 2019; Source: Bloomberg.com

Energy

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 54.04 -0.44 -0.81% Dec 2019 1:13 AM
CO1:COMBrent Crude (ICE) USD/bbl. 59.40 -0.30 -0.50% Dec 2019 1:12 AM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 160.14 -0.75 -0.47% Nov 2019 1:00 AM
NG1:COMNatural Gas (Nymex) USD/MMBtu 2.27 0.00 0.00% Nov 2019 1:13 AM
HO1:COMHeating Oil (Nymex) USd/gal. 193.85 -0.52 -0.27% Nov 2019 1:04 AM

Precious and Industrial Metals

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
GC1:COMGold (Comex) USD/t oz. 1,493.00 +5.50 +0.37% Dec 2019 1:13 AM
XAUUSD:CURGold Spot USD/t oz. 1,490.00 +2.32 +0.16% N/A 1:23 AM
SI1:COMSilver (Comex) USD/t oz. 17.56 +0.06 +0.34% Dec 2019 1:13 AM
HG1:COMCopper (Comex) USd/lb. 262.25 -1.05 -0.40% Dec 2019 1:12 AM
XPTUSD:CURPlatinum Spot USD/t oz. 893.24 +1.66 +0.19% N/A 1:23 AM

Agriculture

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
C 1:COMCorn (CBOT) USd/bu. 389.00 +1.00 +0.26% Dec 2019 1:10 AM
W 1:COMWheat (CBOT) USd/bu. 519.75 +1.75 +0.34% Dec 2019 1:13 AM
CC1:COMCocoa (ICE) USD/MT 2,448.00 -26.00 -1.05% Dec 2019 10/22/2019
CT1:COMCotton #2 (ICE) USd/lb. 64.50 -0.17 -0.26% Dec 2019 1:13 AM
LC1:COMLive Cattle (CME) USd/lb. 113.70 -0.17 -0.15% Dec 2019 10/22/2019
23.10.2019

Exchange Rates

Date: October 23, 2019; Source: the Central Bank of Uzbekistan
1 US DOLLAR USD / UZS 9448.53
1 EURO EUR / UZS 10553.06
1 RUSSIAN ROUBLE RUB / UZS 147.70
1 ENGLISH POUND GBP / UZS 12255.69
1 KAZAKHSTAN TENGE KZT / UZS 24.22
 

Date: October 23, 2019; Source: the Central Bank of Uzbekistan

1 US DOLLAR

USD / UZS

9448.53

1 EURO

EUR / UZS

10553.06

1 RUSSIAN ROUBLE

RUB / UZS

147.70

1 ENGLISH POUND

GBP / UZS

12255.69

1 KAZAKHSTAN TENGE

KZT / UZS

24.22