On 12 December, Chairman of the Chamber of Commerce and Industry Adham Ikramov, along with a delegation led by Mayor of Nagoya Takashi Kawamura, visited the Japanese Garden, which is one of the symbols of friendship between Japan and Uzbekistan.

In addition, members of the Nagoya delegation also visited the Ministry...

This was provided for by a decree signed by the head of state. As noted in the document, outdated bureaucratic methods of work, including the low level of implementation of modern information technologies in document management, a significant amount of paperwork, are still preserved in the ministries, departments, and executive...

From January 1, some functions and powers of local executive authorities will be transferred to the territorial divisions of the relevant government bodies.

from January 1, the functions and powers of local administrations providing for the followings will cease to apply:

- coordination of technological, forestry, agrotechnical, hydrotechnical, sanitary-technical measures;

- adoption of...

On 12 December 2019, Minister of Foreign Affairs of the Republic of Uzbekistan Abdulaziz Kamilov in Rome met with the Diplomatic Advisor to the President of the Italian Republic, Ambassador Emanuela D’Alessandro, the Foreign Ministry said.

Priorities for further development of bilateral cooperation between Uzbekistan and Italy were discussed in the...

With the adoption of the new version of the Tax Code, pre-trial discussion of tax disputes will become mandatory. In August, they settled the tax dispute with the Tashkent Poytaht shopping centre for 3.2 billion soum.

Senior Inspector of the Interregional Tax Inspectorate for Large Taxpayers at the State Tax Committee...

The president’s decree “On additional measures to improve mortgage lending mechanisms” introduces a new procedure for providing housing to the population, according to the Telegram channel of the Ministry of Justice.

The Ministry of Finance now places money in banks on market terms for a period of 15 years.

Banks provide the...

The number of credit organisations and bank divisions in Uzbekistan as of October 1 decreased compared to the same date a year ago from 8640 to 8061, according to statistics from the Central Bank.

The number of branches of commercial banks decreased by 49 (decrease from 896 to 847), mini-banks by...

The local budget of the city of Tashkent for 2020 is approved. A relevant draft document was published for discussion.

According to the Law on the State Budget of the Republic of Uzbekistan for 2020, the following changes were made to the expenditure system of the local budget of Tashkent:

The followings...

The euro stood at five-week highs on Thursday before new European Central Bank President Christine Lagarde’s first policy meeting, after the Federal Reserve’s forecast that it would hold rates through 2020.

The Fed announcement late on Wednesday, which followed its decision to leave rates unchanged, sent the dollar to its weakest...

Oil prices rose on Thursday, recouping some of the previous session’s losses after OPEC forecast a supply deficit next year and the U.S. Federal Reserve said the economic outlook was favorable. Prices had fallen on Wednesday after a report showed an unexpected increase in U.S. crude inventories. The market picked...

Prompt British wholesale gas prices edged lower on Thursday morning on an influx of liquefied natural gas (LNG) cargoes to UK terminals, stronger Norway flows and an expected drop in demand.

The within-day contract fell 0.25 pence to 31.85 pence per therm by 1030 GMT.

Day-ahead gas fell 0.5 pence to 31.50...

The law on the state budget for 2020 approved the forecast of the main macroeconomic indicators of development of Uzbekistan.

The gross domestic product is expected to reach 653.5 trillion soum. The growth rate is 5.5%. Consumer price index by December last year at 12−13%.

The industrial production growth rate will be...

Chicago wheat futures lost ground for a second session on Thursday, trading near a three-week low, as plentiful global supplies and stiff competition in the world market weighed on prices. Soybeans held steady as the market awaited developments around any trade deal between Washington and Beijing.

The most-active wheat contract on...

Gold was steady on Thursday as investors waited to see if new U.S. tariffs on Chinese goods would emerge by a Dec. 15 deadline and after the Federal Reserve's decision to leave interest rates unchanged. Palladium meanwhile soared to yet another record high on a sustained supply shortfall.

Spot gold was...

Nickel prices hit their highest in nearly two weeks on Thursday, as investors who bet on falling prices had to buy in at a strong support level.

Nickel prices have fallen in the past weeks to touch a five-month low of $12,900 a tonne on the London Metal Exchange (LME) on...

On December 12, at 10:00 in the City Palace Hotel in the Grand Ball Room, the official launch of the subscription campaign for the initial public offer of shares (IPO) of Jizzakh Plastic will take place, as well as a presentation on the topic “IPO from the largest producer of...

December 5, during negotiations between AKFA Group and Italian company STM Technologies S.r.l. An agreement was signed for the supply of production and technological equipment for the production of basalt cotton wool.

STM Technologies S.r.l. is one of the leading companies in the world for the supply, commissioning and commissioning of...

By a decree of the President of Uzbekistan Shavkat Mirziyoyev of December 9, a “road map” for the implementation of projects for the creation of toll roads on public-private partnerships was approved.

As follows from the document, it is planned to build two new toll tunnels - at the passes of...

Russia’s rouble was up 0.1% against the dollar at 63.24 and steady at 70.43 versus the euro.

The Senate Foreign Relations Committee on Wednesday approved bills aimed at hampering Russian energy pipelines and boosting NATO but delayed voting on a measure that would target certain Russian banks, the country's cyber sector...

Trade turnover between Russia and China may set a new record and exceed $110 billion by the end of this year if the current dynamics persists, Spokesman for China’s Commerce Ministry Gao Feng told a press conference on Thursday.

"Trade turnover exceeded $100 billion in January-November period as it increased by...

Shanghai stocks snapped a five-session rally to end lower on Thursday, as investors remained wary ahead of Washington’s decision to proceed with new tariffs on Chinese goods this weekend.

The blue-chip CSI300 index fell 0.3% to close at 3,891.02, while the Shanghai Composite Index also shed 0.3% to 2,915.70.

U.S. President Donald...

The total assets of Chinese financial institutions rose 8.1 percent to 312.46 trillion yuan (about 44.5 trillion U.S. dollars) at the end of the third quarter, central bank data showed Thursday.

At the end of Q3, banking institutions saw their total assets at 284.67 trillion yuan, up 7.7 percent year on...

China's rising consumer inflation, driven by higher food prices, will not obstruct the monetary authority's efforts to counter economic sluggishness, as companies still need credit and adaptive liquidity to sustain investment, analysts said.

Economists predicted that the consumer price index, the main gauge of inflation, will drop gradually next year after...

Date: December 13, 2019; Source: Bloomberg.com

Energy

Precious and Industrial Metals

Agriculture

Date: December 13, 2019; Source: the Central Bank of Uzbekistan