For Uzbekistan, the Cartagena Protocol on Biosafety to the Convention on Biological Diversity entered into force on January 23, the press service of the Ministry of Foreign Affairs said. The document was adopted in Montreal on January 29, 2000.

The republic’s participation in the international treaty will improve the procedures for...

In 2019, economic courts examined 197,291 cases. Court decisions were made to recover 11.7 trillion soum in favour of the plaintiffs. The number of cases examined compared to 2018 decreased by 51%. This was reported by the head of the press service of the Supreme Court of Uzbekistan Aziz Abidov.

The...

At the first joint session of the chambers of the parliament on January 21, Prime Minister Abdulla Aripov briefed on the government’s plans for the near and far future.

According to him, Uzbekistan is aiming to sharply improve its position in the Doing Business rating of the World Bank in the...

From March 1, collectors will begin to provide services on the basis of a contract, and the initiating customer will pay for the delivery of cash to the bank.

The Central Bank explained that according to the contract collection services will be paid:

if the company is the initiator, that is, the...

The state share in the Tashkent Insurance Group insurance company was put up for auction, it follows from the information of the State Assets Management Agency.

Tashkent Insurance Group is a former company Sug’urta O’z, founded in 2010. It is based on a license from 2017. The main shareholders are individuals,...

This year, it is planned to allocate 1491.8 billion soums for the purchase of medicines and medical equipment (this amount is 6.5 times more than in 2016 or 36% more than in 2019). This was reported by the Ministry of Finance of Uzbekistan.

Part of the funds will be channeled towards...

On January 22, after workover and special treatment of Devkhona-6 wet well, the company obtained a production rate of 150,000 m3 of gas per day.

Construction of Chigil CP–Mubarek GPP pipeline is in progress. The works are being carried out in cooperation with Uzbekneftegaz.

Total for January 22:

122,400 t of pipes shipped;

79,500...

Oil prices fell on Thursday on concern that the spread of a respiratory virus from China could lower fuel demand if it stunts economic growth in an echo of the SARS epidemic nearly 20 years ago. Brent crude futures were down 88 cents, or 1.39%, at $62.33 a barrel by...

British wholesale gas prices fell on Thursday, pressured by decreasing demand and expectations that mild weather will continue.

The day-ahead contract fell 0.25 pence to 26.90 p/therm by 0910 GMT. The within-day contract was yet to trade.

After temperatures became milder on Wednesday reducing gas demand for heating, a further decline in...

China has strengthened as the main trading partner of Uzbekistan, as follows from the data of the State Statistics Committee.

At the end of 2019, foreign trade amounted to $42.2 billion, which was a record in the history of the country. Of this amount, 17.9 billion accounted for export, 24.3 billion...

Chicago wheat futures edged higher on Thursday to hold near an 18-month high, underpinned by strong overseas demand, rising export prices and potential supply snags.

Chicago corn inched up while soybeans eased to a new one-month low as traders awaited signs of Chinese purchases of U.S. crops in the wake of...

Gold and energy carriers are the main articles of Uzbek exports in 2019. These positions accounted for 41.6% of national exports in January-December. Official statistics recorded that last year, gold was shipped for more than $4.9 billion or 27.5%, energy for more than $2.5 billion or 14.1%.

In the export structure...

The Japanese yen strengthened and China’s yuan fell to a two-week low on Thursday as investors grew more anxious about the spread of a virus in China, while the euro was calm ahead of the European Central Bank meeting.

Elsewhere, Australia’s dollar rose half a percent after a surprise drop in...

Gold eased on Thursday as investors booked profits from recent rallies but held above the $1,550 technical support level on continuing low interest rates and a drop in risk appetite.

Spot gold was down 0.3% at $1,554.24 an ounce by 1127 GMT. U.S. gold futures fell 0.2% to $1,553.80.

“From the beginning...

Copper prices fell to their lowest in six weeks on Thursday due to the potential impact of the deadly coronavirus outbreak on economic activity in China as the death toll rises.

Other industrial metals also slipped, oil prices fell more than 1.5% and Chinese shares had their biggest fall since May...

On the initiative of the Ministry of Innovative Development of the Republic of Uzbekistan, on 20 January, employees of the Innovation Center of the Yoju Technical Institute in Tashkent tested an experimental sample of the project “Valve device (wind generator) that converts wind movement into mechanical movement" submitted by citizen...

A meeting was held at the Ministry of Energy with representatives of the Chinese company China Machinery Engineering Corporation (CMEC), headed by President Fan Yanshui.

During the meeting, the parties discussed the implementation of investment projects and the possibility of a Chinese company participating in promising projects for the construction of...

According to preliminary data, in January-December 2019, enterprises of the Republic of Uzbekistan produced industrial products worth 331.0 trillion soum, the index of physical volume of industrial production compared to the same period of last year was 6.6%.

A major factor in the growth of physical volume of industrial production was...

A support fund for the development and development of national mass media has been created in Uzbekistan, which is expected to help create a level playing field for the media in the media market, their development, and the realisation of the rights of journalists and bloggers. The Public Fund for...

Car imports continued to grow in 2019, according to the State Statistics Committee.

If in 2018 Uzbekistan spent $319 million on imported cars, then in 2019 it was already $440 million. For comparison, it was $155 million in 2017, $193 million in 2016, $120 million in 2015, and $212 in 2014...

Russia’s economic growth rate in 2020-2022 will be higher than in the United States and the Eurozone, according to an updated macroeconomic forecast by the Institute of Economic Forecasting of the Russian Academy of Sciences. In 2020, Russia’s GDP will grow 1.8% and 2.2% over the next two years, while...

According to the preliminary figures of the Federal State Statistics Service (Rosstat), in 2019 the average yield of grain crops in Russia increased by nearly 4.7% compared with the previous year and totaled 2.66 t/ha, reported the Ministry of Agriculture of the Russian Federation, on January 22.

The market segment of...

The new Russian Prime Minister Mikhail Mishustin, a known cryptocurrency enthusiast, has called on the country to prioritize the development of the digital economy, Coin Idol reports.

On his appointment as PM last week, the former head of Russian tax services vowed to transform the modern blockchain-powered state for the benefit of Russians....

The rouble opened weaker on Thursday, as the price of Brent crude oil fell to a seven-week low and investors' risk appetite was hit by growing concerns about the spread of a dangerous virus from China.

China on Thursday locked down the city of Wuhan, considered the epicentre of the coronavirus...

The first highway bridge connecting China and Russia across the Amur (Heilongjiang) River has recently passed the final acceptance test and is ready for opening, the authorities have said.

The maximum load capacity of the bridge reached 318 tons during the test, Chinese transport and engineering authorities have said, the news agency said.

Measuring...

China stocks fell about 3% on Thursday, their biggest single-day loss in nearly nine months, as investors unloaded shares related to restaurants, cinemas, airlines and theme parks after a lockdown in the central city of Wuhan to curb a SARS-like virus.

Authorities in Wuhan, the epicentre of the new coronavirus outbreak...

The outlook for China's A-share market remains positive for the year ahead, despite uncertainty surrounding the new coronavirus outbreak causing market instability in the short term, analysts said.

The benchmark Shanghai Composite Index gained 0.28 percent to close at 3060.75 points on Wednesday, recovering from a 1.41-percent slump on Tuesday, when...

The operations of multinational companies in China have changed over time, moving up the global value chain as the country has diverted its focus.

China is no longer the world's factory. Today, it is a cradle embracing and nurturing advanced technologies, a production base for more sophisticated and higher value-added products,...

Azerbaijan's Minister of Energy Parviz Shahbazov received Total’s Executive Director for Azerbaijan Regis Agut on Jan. 22, according to the Azerbaijani Ministry of Energy.

The current situation related to the Absheron project implementation and the issues of cooperation with France’s Total company in the field of renewable energy sources were discussed...

Date: January 24, 2020; Source: Bloomberg.com

Energy

Precious and Industrial Metals

Agriculture

Date: January 24, 2020; Source: the Central Bank of Uzbekistan