Issue 644 - 05.06.2020
05.06.2020

Youth Parliament to be created under the Uzbek Senate

In order to ensure the implementation of the State program “The Year of the Development of Science, Education and the Digital Economy”, draft resolutions of the Senate on the creation of the Youth Parliament under the Senate of the Republic of Uzbekistan, the Regulations of the Youth Parliament and the Program for creating and ensuring the effectiveness of the Youth Parliament were developed.

These draft documents are currently being discussed in local councils. This was reported by the Senate Information Service.

According to the project, the Youth Parliament is formed of 100 members from among initiative, highly moral, self-minded citizens aged 18-30, with a solid life position, a broad outlook and deep knowledge, and leadership potential, carrying out activities in various directions in the Republic of Karakalpakstan, regions and the city of Tashkent. At the same time, gender equality and the involvement of youth with disabilities are ensured.

By the decree of the Kengash of the Senate, only 84 people are approved by the members of the Youth Parliament, 6 people from each region in equal numbers from among the youth representatives elected to the regional, district (city) Kengashes of people's deputies, and 10 people on the recommendation of the Youth Union of Uzbekistan, as well as 6 people on the recommendation of the Senate Committee on Youth, Culture and Sports.

On the recommendation of the Senate Committee on Youth, Culture and Sports, the chairman of the Youth Parliament is elected by its members at a plenary meeting of the Youth Parliament.

The Senate Committee on Youth, Culture and Sports is responsible for organizing and coordinating the activities of the Youth Parliament.

Documents adopted by the Youth Parliament are advisory in nature. The Secretary of the Youth Parliament is involved in the preparation and execution of documents. He is elected by the members of the Youth Parliament on the recommendation of the chairman of the Youth Parliament.

The following commissions operate in the Youth Parliament:

- Commission on science, culture and tourism;

- Commission on sports, healthy life, social issues and the environment;

- Commission on computer technology, innovative ideas, startups and agricultural clusters;

- Commission on the widespread promotion of reading and legislation;

- Commission on Employment and Entrepreneurship Support;

- Commission on Gender Equality.

Members of the Youth Parliament take part in discussions of bills. Based on the goals, objectives and directions, conferences, round tables, seminars, meetings with young people in the regions and other events will be organized.

A meeting of members of the Youth Parliament is held as necessary and convened by the chairman of the Youth Parliament.

Each member of the Youth Parliament studies and establishes the causes of the problems faced by young people living in the territory he supervises, and discusses them with young people.

The tasks of the Youth Parliament are to protect the interests of youth, raising their problems to the level of parliamentary discussion, ensuring the participation of youth in lawmaking, preparing future members of the Senate and politicians, stimulating young people who are striving to achieve important goals and implement specific projects.

The Youth Parliament is an advisory body to the Senate, created on a voluntary basis without forming a legal entity. Legislative and executive bodies in the country contribute to the formation of a personnel reserve.

Reported by the Uzbekistan Daily.

Uzbekistan General

05.06.2020

Uzbekistan eases lockdown measures: mosques to open, hotels to resume their activities

The Special State Commission has adopted a number of decisions to mitigate quarantine restrictions in the country.

According to the decision of the Commission, from June 5, the following places will resume their activities in areas classified as “green” zones:

·        training centers and clubs;

·        religious organizations (mosques will be opened, but collective ceremonies...

The Special State Commission has adopted a number of decisions to mitigate quarantine restrictions in the country.

According to the decision of the Commission, from June 5, the following places will resume their activities in areas classified as “green” zones:

·        training centers and clubs;

·        religious organizations (mosques will be opened, but collective ceremonies...

05.06.2020

Coronavirus cases exceed 3,900 in Uzbekistan

According to the Ministry of Health, 35 more people have been diagnosed with the coronavirus infection in Uzbekistan, bringing the total number of cases to 3,909.

“As of 17:00, June 4, the number of coronavirus infection cases in the country stands at 3,909,” the ministry said in a statement.

All the confirmed...

According to the Ministry of Health, 35 more people have been diagnosed with the coronavirus infection in Uzbekistan, bringing the total number of cases to 3,909.

“As of 17:00, June 4, the number of coronavirus infection cases in the country stands at 3,909,” the ministry said in a statement.

All the confirmed...

Finance and Investment

05.06.2020

Uzbekistan sends state duty entirely to the state budget

According to the information service of the Ministry of Finance, the key economic department has prepared a draft law on introducing amendments to the Law of Uzbekistan on state duties.

The new document provides for the transfer of funds from the payment of the state duty to the State budget in...

According to the information service of the Ministry of Finance, the key economic department has prepared a draft law on introducing amendments to the Law of Uzbekistan on state duties.

The new document provides for the transfer of funds from the payment of the state duty to the State budget in...

05.06.2020

Uzbekistan’s spending of foreign investment reaches US$2.5 billion

Between January and April of 2020, the total volume of foreign investments made up US$2.5 billion, including foreign direct investment of US$1.7 billion and foreign loans of US$831 million.

At the same time, the growth rate to the same indicator in 2019 was 1.6 times. The share of utilized foreign direct...

Between January and April of 2020, the total volume of foreign investments made up US$2.5 billion, including foreign direct investment of US$1.7 billion and foreign loans of US$831 million.

At the same time, the growth rate to the same indicator in 2019 was 1.6 times. The share of utilized foreign direct...

05.06.2020

Fitch affirms four Uzbek state-owned banks; outlooks stable

Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of Uzbek Industrial and Construction Bank (UIСB, also known as Uzpromstroybank), Joint Stock Commercial Bank Asaka, OJSC Agrobank (Agro) and Microcreditbank (MCB) at ‘BB-’, with Stable Outlooks. Fitch has also affirmed the banks’ Viability Ratings (VR). A full list of...

Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of Uzbek Industrial and Construction Bank (UIСB, also known as Uzpromstroybank), Joint Stock Commercial Bank Asaka, OJSC Agrobank (Agro) and Microcreditbank (MCB) at ‘BB-’, with Stable Outlooks. Fitch has also affirmed the banks’ Viability Ratings (VR). A full list of...

05.06.2020

ROSEXIMBANK first Russian bank to open a correspondent account in Uzbek soum

ROSEXIMBANK, part of the Russian Export Centre, opened the first correspondent account in Uzbek soum for Russian banks. Several LORO accounts in Russian rouble were opened for banks of Uzbekistan.

The REC Group expands the capabilities of exporters and importers of Russian products in operations in the national currencies of the...

ROSEXIMBANK, part of the Russian Export Centre, opened the first correspondent account in Uzbek soum for Russian banks. Several LORO accounts in Russian rouble were opened for banks of Uzbekistan.

The REC Group expands the capabilities of exporters and importers of Russian products in operations in the national currencies of the...

05.06.2020

New Presidium of the Chamber of Commerce and Industry of Uzbekistan appointed

At a regular meeting of the Presidium of the Chamber of Commerce and Industry of the Republic of Uzbekistan, the issue of co-optation of members of the Presidium was considered.

According to the Charter of the Chamber of Commerce and Industry of the Republic of Uzbekistan, between the Congresses, if necessary,...

At a regular meeting of the Presidium of the Chamber of Commerce and Industry of the Republic of Uzbekistan, the issue of co-optation of members of the Presidium was considered.

According to the Charter of the Chamber of Commerce and Industry of the Republic of Uzbekistan, between the Congresses, if necessary,...

05.06.2020

Postcolonial splendour: euro thrives on ECB cash injection, US street wars

The euro jumped to a 12-week high against the U.S. dollar on Thursday after the European Central Bank increased stimulus to shore up economies hurt by the coronavirus pandemic.

The ECB increased the size of its Pandemic Emergency Purchase Program (PEPP) to 1.35 trillion euros ($1.52 trillion) from 750 billion euros,...

The euro jumped to a 12-week high against the U.S. dollar on Thursday after the European Central Bank increased stimulus to shore up economies hurt by the coronavirus pandemic.

The ECB increased the size of its Pandemic Emergency Purchase Program (PEPP) to 1.35 trillion euros ($1.52 trillion) from 750 billion euros,...

05.06.2020

Stock markets depressed on US economic plunge

World equity markets dipped Thursday after a three-day rally and European government bonds edged higher as worse than expected U.S. economic data pointed to a long road to recovery from the coronavirus pandemic.

Market optimism over an economic rebound has helped push global equities to three-month highs and overshadowed concerns ranging...

World equity markets dipped Thursday after a three-day rally and European government bonds edged higher as worse than expected U.S. economic data pointed to a long road to recovery from the coronavirus pandemic.

Market optimism over an economic rebound has helped push global equities to three-month highs and overshadowed concerns ranging...

Oil and Gas Sector

05.06.2020

Russia’s Lukoil significantly reduces gas production in Uzbekistan

In the first quarter of 2020, Lukoil reduced natural gas production in Uzbekistan by 26.7% compared to the previous quarter and by 25.8% compared to the first quarter of 2019 to 2.84 billion cubic metres.

Such a significant drop in the extraction of blue fuel in Uzbekistan is due to a...

In the first quarter of 2020, Lukoil reduced natural gas production in Uzbekistan by 26.7% compared to the previous quarter and by 25.8% compared to the first quarter of 2019 to 2.84 billion cubic metres.

Such a significant drop in the extraction of blue fuel in Uzbekistan is due to a...

Trade and Consumer Goods

05.06.2020

New requirements for soft drinks set in Uzbekistan

By resolution of the Cabinet of Ministers, the General Technical Regulation on the safety of soft drinks and the scheme for its implementation were approved.

The technical regulation comes into force 18 months from the date of publication. Until its entry into force, the current regulatory documents for non-alcoholic beverage standards...

By resolution of the Cabinet of Ministers, the General Technical Regulation on the safety of soft drinks and the scheme for its implementation were approved.

The technical regulation comes into force 18 months from the date of publication. Until its entry into force, the current regulatory documents for non-alcoholic beverage standards...

Agriculture

05.06.2020

Wheat, maize futures in for a long, hot and profitable summer

Chicago soybean futures were little changed on Thursday, holding near a three-week high as fresh demand from China supported prices while traders awaited weekly U.S. export sales data.

Wheat rose for a second session as hot weather forecast in U.S. and Russian growing belts kept attention on harvest risks. Corn also...

Chicago soybean futures were little changed on Thursday, holding near a three-week high as fresh demand from China supported prices while traders awaited weekly U.S. export sales data.

Wheat rose for a second session as hot weather forecast in U.S. and Russian growing belts kept attention on harvest risks. Corn also...

Metals and Minerals

05.06.2020

Bargain hunters drive prices of gold, silver up after earlier losses

Gold rose on Thursday as investors took advantage of the previous session’s steep price decline to buy the metal, with markets awaiting the release of Friday’s U.S. non-farm payrolls data for May.

Spot gold rose 0.9% to $1,713.37 per ounce by 1249 GMT. U.S. gold futures climbed 0.8% to $1,719.10.

“There are...

Gold rose on Thursday as investors took advantage of the previous session’s steep price decline to buy the metal, with markets awaiting the release of Friday’s U.S. non-farm payrolls data for May.

Spot gold rose 0.9% to $1,713.37 per ounce by 1249 GMT. U.S. gold futures climbed 0.8% to $1,719.10.

“There are...

05.06.2020

Copper prices up on dwindling storage, leaving other base metals mixed

Copper prices rose on Thursday towards 2-1/2 month highs reached in the previous session as the European Central Bank and German government announced big stimulus packages and U.S. data showed unemployment growth slowing sharply.

Benchmark copper on the London Metal Exchange (LME) was up 0.1% at $5,528 a tonne at 1600...

Copper prices rose on Thursday towards 2-1/2 month highs reached in the previous session as the European Central Bank and German government announced big stimulus packages and U.S. data showed unemployment growth slowing sharply.

Benchmark copper on the London Metal Exchange (LME) was up 0.1% at $5,528 a tonne at 1600...

Energy Industry

05.06.2020

Uzbekistan strives for low-carbon energy

Uzbekistan will adopt the National Low-Carbon Development Strategy, which is currently being developed by the Ministry of Energy with the involvement of international experts, the Ministry of Energy’s press service told.

The document will reflect the transition to the production of electricity with low greenhouse gas emissions that negatively affect the...

Uzbekistan will adopt the National Low-Carbon Development Strategy, which is currently being developed by the Ministry of Energy with the involvement of international experts, the Ministry of Energy’s press service told.

The document will reflect the transition to the production of electricity with low greenhouse gas emissions that negatively affect the...

05.06.2020

Uzbekhydroenergo announces tender for construction of three hydroelectric power stations in Kashkadarya region

Uzbekhydroenergo has announced a tender for the design and construction of the Rabat, Chappasoy and Tamshush hydroelectric power stations on the Aksu River, Kashkadarya region, the company said in a statement.

The Government of Uzbekistan received funding from the Asian Development Bank (ADB) for the implementation of the Sustainable Hydropower...

Uzbekhydroenergo has announced a tender for the design and construction of the Rabat, Chappasoy and Tamshush hydroelectric power stations on the Aksu River, Kashkadarya region, the company said in a statement.

The Government of Uzbekistan received funding from the Asian Development Bank (ADB) for the implementation of the Sustainable Hydropower project. Part of...

Manufacturing industry

05.06.2020

South Korean company enters one of the design institutes of Uzbekistan

According to the information service of the Agency for State Assets Management, the South Korean company Hanshin Engineering & Construction Co., Ltd will enter one of the design institutes in Uzbekistan.

This information was announced during a recent video conference with representatives of the Ministry of Construction and the Ministry of...

According to the information service of the Agency for State Assets Management, the South Korean company Hanshin Engineering & Construction Co., Ltd will enter one of the design institutes in Uzbekistan.

This information was announced during a recent video conference with representatives of the Ministry of Construction and the Ministry of...

Communications and Transportation

05.06.2020

Uzbekistan to restore its tourism industry in three phases

In the first phase from June 1, in the regions of Uzbekistan classified as “green” and “yellow” zones, internal tourism resumed.

Related organizations – tour operators, travel agencies, accommodation facilities and others – are allowed to resume their activities in the mentioned zones, with strict compliance with the established sanitary and...

In the first phase from June 1, in the regions of Uzbekistan classified as “green” and “yellow” zones, internal tourism resumed.

Related organizations – tour operators, travel agencies, accommodation facilities and others – are allowed to resume their activities in the mentioned zones, with strict compliance with the established sanitary and...

05.06.2020

Uzbek Ministry of Investment and Foreign Trade discusses issues of enhancing exhibition activities

Under the leadership of the Deputy Prime Minister of the Republic of Uzbekistan - Minister of Investments and Foreign Trade Sardor Umurzakov, a meeting was held in the form of a videoconference to discuss measures to enhance exhibition activities.

The meeting was attended by the heads of relevant ministries, departments, the...

Under the leadership of the Deputy Prime Minister of the Republic of Uzbekistan - Minister of Investments and Foreign Trade Sardor Umurzakov, a meeting was held in the form of a videoconference to discuss measures to enhance exhibition activities.

The meeting was attended by the heads of relevant ministries, departments, the...

Regional News

05.06.2020

Russia's services PMI bounces back to 35.9 in May

The seasonally adjusted IHS Markit Russia Services Business Activity Index recovered to 35.9 in May, up from April's nadir of 12.2. Although the index bounced back it is still deeply in the red and at its second-lowest value since early 2009.

The services result is also still running slightly behind the...

The seasonally adjusted IHS Markit Russia Services Business Activity Index recovered to 35.9 in May, up from April's nadir of 12.2. Although the index bounced back it is still deeply in the red and at its second-lowest value since early 2009.

The services result is also still running slightly behind the...

05.06.2020

Russia’s rebound becomes visible as the rouble breaks below RUB70 to the dollar

If Russia’s plan was not to panic, keep its powder dry and wait for oil prices to recover then that plan is working pretty well. The rouble broke back below RUB70 to the dollar this week and was trading at RUB68.48 to the dollar as of the close of trading as...

If Russia’s plan was not to panic, keep its powder dry and wait for oil prices to recover then that plan is working pretty well. The rouble broke back below RUB70 to the dollar this week and was trading at RUB68.48 to the dollar as of the close of trading as...

05.06.2020

In Brent we trust: Russian stocks, currency slides along with oil prices

The Russian rouble fell by 1% against the U.S. dollar on Thursday, tugged lower by falling oil prices while also tracking a retreat in other emerging-market currencies.

The rouble eased to 69.37 against the dollar at 1339 GMT, slipping from a three-month high on Wednesday. It was down 1.2% to 78.10...

The Russian rouble fell by 1% against the U.S. dollar on Thursday, tugged lower by falling oil prices while also tracking a retreat in other emerging-market currencies.

The rouble eased to 69.37 against the dollar at 1339 GMT, slipping from a three-month high on Wednesday. It was down 1.2% to 78.10...

05.06.2020

China’s stock markets mixed after Trump’s new round of China bashing

China stocks pared early gains on Thursday due to concerns over rising Sino-U.S. tensions after the Trump administration barred Chinese passenger carriers to fly to the United States.

At the midday break, the Shanghai Composite index .SSEC was down 0.21% at 2,917.17, after opening 0.29% higher.

China's blue-chip CSI300 index was down 0.16%, with...

China stocks pared early gains on Thursday due to concerns over rising Sino-U.S. tensions after the Trump administration barred Chinese passenger carriers to fly to the United States.

At the midday break, the Shanghai Composite index .SSEC was down 0.21% at 2,917.17, after opening 0.29% higher.

China's blue-chip CSI300 index was down 0.16%, with...

05.06.2020

China's foreign trade to regain momentum in H2

China's foreign trade is expected to show a stable recovery in the second half of the year on the back of a notable improvement in the industrial, supply and service chains as well as from major trade events like the upcoming Canton Fair and the third China International Import Expo,...

China's foreign trade is expected to show a stable recovery in the second half of the year on the back of a notable improvement in the industrial, supply and service chains as well as from major trade events like the upcoming Canton Fair and the third China International Import Expo,...

05.06.2020

China to meet new economic challenges head-on

China will resolutely curb the resurgence of various types of financial risks and properly handle new challenges arising from a complicated economic and financial situation amid the novel coronavirus outbreak, a regulatory official said on Thursday.

A spokesperson from the China Banking and Insurance Regulatory Commission said the commission will firmly...

China will resolutely curb the resurgence of various types of financial risks and properly handle new challenges arising from a complicated economic and financial situation amid the novel coronavirus outbreak, a regulatory official said on Thursday.

A spokesperson from the China Banking and Insurance Regulatory Commission said the commission will firmly...

05.06.2020

Azeri state oil company’s subsidiary starts producing new polymers

SOCAR Polymer has launched production of raw materials for a special kind of fabrics used in the manufacture of medical masks, Ministry of Economy’s press service reported on June 4.

According to the information, "SOCAR Polymer" LLC produces polypropylene and polyethylene of increased density, is one of the largest investors among...

SOCAR Polymer has launched production of raw materials for a special kind of fabrics used in the manufacture of medical masks, Ministry of Economy’s press service reported on June 4.

According to the information, "SOCAR Polymer" LLC produces polypropylene and polyethylene of increased density, is one of the largest investors among...

Prices and Statistics

05.06.2020

Commodities

Date: June 5, 2020; Source: Bloomberg.com Energy
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 37.42 +0.01 +0.03% Jul 2020 1:22 AM
CO1:COMBrent Crude (ICE) USD/bbl. 40.18 +0.19 +0.48% Aug 2020 1:22 AM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 115.64 +0.74 +0.64% Jul 2020 1:17 AM
NG1:COMNatural Gas (Nymex) USD/MMBtu 1.83 +0.01 +0.27% Jul 2020 1:22 AM
HO1:COMHeating Oil (Nymex) USd/gal. 108.31 +0.90 +0.84% Jul 2020 1:20 AM
Precious and Industrial Metals
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
GC1:COMGold (Comex) USD/t oz. 1,716.70 -10.70 -0.62% Aug 2020 1:22 AM
XAUUSD:CURGold Spot USD/t oz. 1,711.81 -2.20 -0.13% N/A 1:32 AM
SI1:COMSilver (Comex) USD/t oz. 17.96 -0.10 -0.56% Jul 2020 1:20 AM
HG1:COMCopper (Comex) USd/lb. 249.40 +0.45 +0.18% Jul 2020 1:21 AM
XPTUSD:CURPlatinum Spot USD/t oz. 838.28 -4.00 -0.47% N/A 1:32 AM
Agriculture
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
C 1:COMCorn (CBOT) USd/bu. 329.25 +0.25 +0.08% Jul 2020 1:20 AM
W 1:COMWheat (CBOT) USd/bu. 526.50 +2.75 +0.53% Jul 2020 1:19 AM
CC1:COMCocoa (ICE) USD/MT 2,377.00 -1.00 -0.04% Sep 2020 6/4/2020
CT1:COMCotton #2 (ICE) USd/lb. 59.85 +0.27 +0.45% Dec 2020 12:49 AM
LC1:COMLive Cattle (CME) USd/lb. 97.93 +0.57 +0.59% Aug 2020 6/4/2020

Date: June 5, 2020; Source: Bloomberg.com

Energy

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 37.42 +0.01 +0.03% Jul 2020 1:22 AM
CO1:COMBrent Crude (ICE) USD/bbl. 40.18 +0.19 +0.48% Aug 2020 1:22 AM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 115.64 +0.74 +0.64% Jul 2020 1:17 AM
NG1:COMNatural Gas (Nymex) USD/MMBtu 1.83 +0.01 +0.27% Jul 2020 1:22 AM
HO1:COMHeating Oil (Nymex) USd/gal. 108.31 +0.90 +0.84% Jul 2020 1:20 AM

Precious and Industrial Metals

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
GC1:COMGold (Comex) USD/t oz. 1,716.70 -10.70 -0.62% Aug 2020 1:22 AM
XAUUSD:CURGold Spot USD/t oz. 1,711.81 -2.20 -0.13% N/A 1:32 AM
SI1:COMSilver (Comex) USD/t oz. 17.96 -0.10 -0.56% Jul 2020 1:20 AM
HG1:COMCopper (Comex) USd/lb. 249.40 +0.45 +0.18% Jul 2020 1:21 AM
XPTUSD:CURPlatinum Spot USD/t oz. 838.28 -4.00 -0.47% N/A 1:32 AM

Agriculture

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
C 1:COMCorn (CBOT) USd/bu. 329.25 +0.25 +0.08% Jul 2020 1:20 AM
W 1:COMWheat (CBOT) USd/bu. 526.50 +2.75 +0.53% Jul 2020 1:19 AM
CC1:COMCocoa (ICE) USD/MT 2,377.00 -1.00 -0.04% Sep 2020 6/4/2020
CT1:COMCotton #2 (ICE) USd/lb. 59.85 +0.27 +0.45% Dec 2020 12:49 AM
LC1:COMLive Cattle (CME) USd/lb. 97.93 +0.57 +0.59% Aug 2020 6/4/2020
05.06.2020

Exchange Rates

Date: June 05, 2020; Source: the Central Bank of Uzbekistan
1 US DOLLAR USD / UZS  10148.31
1 EURO EUR / UZS 11262.59
1 RUSSIAN ROUBLE RUB / UZS 144.05
1 GREAT BRITIAN POUND GBP / UZS 12527.07
1 KAZAKHSTAN TENGE KZT / UZS 24.65

Date: June 05, 2020; Source: the Central Bank of Uzbekistan

1 US DOLLAR

USD / UZS

 10148.31

1 EURO

EUR / UZS

11262.59

1 RUSSIAN ROUBLE

RUB / UZS

144.05

1 GREAT BRITIAN POUND

GBP / UZS

12527.07

1 KAZAKHSTAN TENGE

KZT / UZS

24.65