Issue 1616 - 19.06.2024
19.06.2024

Uzbekistan and Malaysia discuss enhanced cooperation in science and technology

The Ambassador of Uzbekistan to Malaysia, Karomiddin Gadoev, met with Chang Lee Kang, Malaysia’s Minister of Science, Technology, and Innovation, to discuss strengthening bilateral ties in science and technology.

During the meeting, representatives from Uzbekistan and Malaysia discussed various aspects of scientific and technological cooperation. This included the implementation of modern technological solutions in Uzbekistan’s economy, efforts to stimulate the growth of the digital technology sector, and the benefits and incentives provided to foreign technology companies operating in Uzbekistan. Additionally, they explored the progress in scientific and innovative development within the republic.

Uzbekistan's efforts to become a regional hub for innovation and startups were highlighted. The country has been actively implementing advanced technological solutions across various sectors to boost economic growth and technological development. Measures to stimulate the digital technology sector, such as providing incentives to foreign technology companies, were emphasized.

The meeting concluded with agreements on several joint projects and initiatives. Both parties expressed interest in collaborating on a range of scientific and technological areas, including artificial intelligence, biotechnology, space technology, water-saving technologies, energy efficiency, and cybersecurity. These collaborative projects aim to leverage the technological strengths of both nations.

In addition to specific project agreements, both countries agreed to organize mutual visits to further develop and deepen their cooperation. These visits are expected to facilitate the exchange of knowledge and expertise, fostering a more robust partnership in science and technology.

Reported by Daryo (Uzbekistan).

Uzbekistan General

19.06.2024

Uzbekistan ranks 81st in Sustainable Development Report 2024

The Sustainable Development Report 2024 notes Uzbekistan's placement at 81st out of 167 countries assessed, highlighting the nation's progress and challenges in achieving sustainable development goals (SDGs).

The report evaluates countries based on their performance across 17 SDGs, encompassing areas from poverty eradication and health to environmental sustainability and economic growth. Uzbekistan achieved...

The Sustainable Development Report 2024 notes Uzbekistan's placement at 81st out of 167 countries assessed, highlighting the nation's progress and challenges in achieving sustainable development goals (SDGs).

The report evaluates countries based on their performance across 17 SDGs, encompassing areas from poverty eradication and health to environmental sustainability and economic growth. Uzbekistan achieved...

19.06.2024

Equal wages in Uzbekistan to lift 700,000 out of poverty

A study by the World Bank reveals that aligning men’s and women’s wages in Uzbekistan could lift over 700,000 people out of poverty. The Uzbekistan Country Gender Assessment Report (CGA), produced with financial support from the UK government, provides a comprehensive analysis of gender equality in the country, highlighting both progress and...

A study by the World Bank reveals that aligning men’s and women’s wages in Uzbekistan could lift over 700,000 people out of poverty. The Uzbekistan Country Gender Assessment Report (CGA), produced with financial support from the UK government, provides a comprehensive analysis of gender equality in the country, highlighting both progress and...

19.06.2024

Uzbekistan faces higher number of boys birth compared to girls in 5M24

Preliminary data from the Statistics Agency of Uzbekistan indicates a higher number of boys born compared to girls in the first half of 2024. 

As per to the Statistics Agency, a total of 374,400 live births were registered in Uzbekistan between January and May 2024. Breaking down these figures by gender:

·        ...

Preliminary data from the Statistics Agency of Uzbekistan indicates a higher number of boys born compared to girls in the first half of 2024. 

As per to the Statistics Agency, a total of 374,400 live births were registered in Uzbekistan between January and May 2024. Breaking down these figures by gender:

·         Boys: 180,400

·         Girls: 167,000

This...

Finance and Investment

19.06.2024

Uzbekistan develops draft regulation for individual investment accounts

The National Agency for Prospective Projects (NAPP) in Uzbekistan has developed a draft regulation to facilitate the opening of individual investment accounts (IIS), a significant step toward enhancing the local stock market's accessibility for citizens.

The draft regulation outlines the mechanism for citizens to open investment accounts with brokers for purchasing securities traded...

The National Agency for Prospective Projects (NAPP) in Uzbekistan has developed a draft regulation to facilitate the opening of individual investment accounts (IIS), a significant step toward enhancing the local stock market's accessibility for citizens.

The draft regulation outlines the mechanism for citizens to open investment accounts with brokers for purchasing securities traded...

19.06.2024

BNK Financial Group opens microfinance subsidiary in Uzbekistan

BNK Financial Group has established a new subsidiary microfinance organization in Tashkent, Uzbekistan, as per to Yonhap News Agency. The opening ceremony for BNK Finance took place on June 13, coinciding with the first day of South Korean President Yoon Suk Yeol's visit to Uzbekistan. The event was attended by BNK Financial Group Chairman...

BNK Financial Group has established a new subsidiary microfinance organization in Tashkent, Uzbekistan, as per to Yonhap News Agency. The opening ceremony for BNK Finance took place on June 13, coinciding with the first day of South Korean President Yoon Suk Yeol's visit to Uzbekistan. The event was attended by BNK Financial Group Chairman...

19.06.2024

China to invest US$1 billion in Uzbek Andijan region

China is investing US$1 billion in the Andijan region of Uzbekistan. As part of this project, an enterprise will be created to process the skins and internal organs of domestic animals.

A delegation of Uzbekistan led by the governor of the Andijan region visited China. During the visit, representatives of Uzbekistan...

China is investing US$1 billion in the Andijan region of Uzbekistan. As part of this project, an enterprise will be created to process the skins and internal organs of domestic animals.

A delegation of Uzbekistan led by the governor of the Andijan region visited China. During the visit, representatives of Uzbekistan...

19.06.2024

Stock markets defy rebounding greenback

The dollar edged higher on Tuesday, knocking the euro slightly, as traders awaited a U.S. retail sales report and comments from Federal Reserve officials to help gauge the timing of interest rate cuts. The U.S. dollar index, which measures the currency against six major peers, was last up 0.18% to...

The dollar edged higher on Tuesday, knocking the euro slightly, as traders awaited a U.S. retail sales report and comments from Federal Reserve officials to help gauge the timing of interest rate cuts. The U.S. dollar index, which measures the currency against six major peers, was last up 0.18% to...

Oil and Gas Sector

19.06.2024

Brent keeps hovering around mid-range

Oil prices edged down in Asian trade on Tuesday, after posting gains in the previous session, as markets remained cautious about global demand growth prospects amid expectations of stronger supplies.

Global benchmark Brent crude futures slipped 12 cents, or 0.14%, to $84.13 per barrel at 0615 GMT. U.S. West Texas Intermediate...

Oil prices edged down in Asian trade on Tuesday, after posting gains in the previous session, as markets remained cautious about global demand growth prospects amid expectations of stronger supplies.

Global benchmark Brent crude futures slipped 12 cents, or 0.14%, to $84.13 per barrel at 0615 GMT. U.S. West Texas Intermediate...

Agriculture

19.06.2024

Uzbekistan secures $32mn from grain company sales

Uzbekistan's State Assets Management Agency (SAMA) completed the sale of eight-grain companies, fetching a total of UZS 403bn ($32mn). Seven other grain companies advanced to the second stage of the auction, with bids open until June 21, 18:00 (GMT+5).

The privatized companies include Oqoltin don mahsulotlari (88.45% state), Juma elevatori (63.8%), Bagʻdod don mahsulotlari (54.8%), Shoʻrchi don mahsulotlari (64.3%), Oqtosh Don (57.4%), Toshkent don mahsulotlari (51%), Qoʻqon don mahsulotlari (64.3%), and...

Uzbekistan's State Assets Management Agency (SAMA) completed the sale of eight-grain companies, fetching a total of UZS 403bn ($32mn). Seven other grain companies advanced to the second stage of the auction, with bids open until June 21, 18:00 (GMT+5).

The privatized companies include Oqoltin don mahsulotlari (88.45% state), Juma elevatori (63.8%), Bagʻdod don mahsulotlari (54.8%), Shoʻrchi don mahsulotlari (64.3%), Oqtosh Don (57.4%), Toshkent don mahsulotlari (51%), Qoʻqon don mahsulotlari (64.3%), and...

19.06.2024

Abundant supplies keep US wheat contraxt subdued

Chicago wheat futures edged down on Tuesday to remain at their lowest in almost two months as an advancing U.S. harvest and talk of good initial yields in Russia kept the focus on incoming supply in the northern hemisphere.

Corn and soybean futures ticked up, consolidating after a two-day slide, as...

Chicago wheat futures edged down on Tuesday to remain at their lowest in almost two months as an advancing U.S. harvest and talk of good initial yields in Russia kept the focus on incoming supply in the northern hemisphere.

Corn and soybean futures ticked up, consolidating after a two-day slide, as...

Metals and Minerals

19.06.2024

Bullion, platinum tick up as silver, palladium depreciate

Gold prices edged higher on Tuesday after softer-than-expected U.S. retail sales data cemented hopes that the Federal Reserve will reduce interest rates this year, sending the dollar and Treasury yields lower.

Spot gold was up 0.2% at $2,323.96 per ounce by 09:54 a.m. ET (1354 GMT). U.S. gold futures rose 0.4%...

Gold prices edged higher on Tuesday after softer-than-expected U.S. retail sales data cemented hopes that the Federal Reserve will reduce interest rates this year, sending the dollar and Treasury yields lower.

Spot gold was up 0.2% at $2,323.96 per ounce by 09:54 a.m. ET (1354 GMT). U.S. gold futures rose 0.4%...

19.06.2024

Ferrous benchmarks veer up on better demand outlook, coal down

Iron ore futures prices rebounded on Tuesday, but were off their session high as investors booked profits following market talks of controlling steel output in the southern province of Fujian in top consumer China.

The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) gave up earlier gains to...

Iron ore futures prices rebounded on Tuesday, but were off their session high as investors booked profits following market talks of controlling steel output in the southern province of Fujian in top consumer China.

The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) gave up earlier gains to...

19.06.2024

Mounting stockpiles keep non-ferrous base metals subdued

Copper prices hit their lowest in two months on Tuesday as stockpiles in London Metal Exchange (LME) warehouses climbed to a six-month high amid a subdued demand outlook and stronger dollar.

Three-month copper on the LME was down 1% at $9,570 per metric ton during official rings, having earlier fallen as...

Copper prices hit their lowest in two months on Tuesday as stockpiles in London Metal Exchange (LME) warehouses climbed to a six-month high amid a subdued demand outlook and stronger dollar.

Three-month copper on the LME was down 1% at $9,570 per metric ton during official rings, having earlier fallen as...

Energy Industry

19.06.2024

Chinese company to build hydroelectric power station in Uzbek Andijan region

The Chinese company Zheijang Commercial Building will build a hydroelectric power station in the Andijan region.

This agreement was reached between the administration of Andijan region and the Chinese company Zheijang Commercial Building.

Cooperation between the parties began with a project to build a hydroelectric power station worth $200 million and with...

The Chinese company Zheijang Commercial Building will build a hydroelectric power station in the Andijan region.

This agreement was reached between the administration of Andijan region and the Chinese company Zheijang Commercial Building.

Cooperation between the parties began with a project to build a hydroelectric power station worth $200 million and with...

Communications and Transportation

19.06.2024

Uzbekistan's Qanot Sharq launches direct flights from Tashkent to Seoul

The private airline Qanot Sharq has commenced direct flights between Tashkent and Seoul, marking an addition to its flight routes. The first flight connecting the capitals of Uzbekistan and South Korea took place on June 16, with an inauguration ceremony attended by key industry figures including Qanot Sharq's General Director Moses Pak...

The private airline Qanot Sharq has commenced direct flights between Tashkent and Seoul, marking an addition to its flight routes. The first flight connecting the capitals of Uzbekistan and South Korea took place on June 16, with an inauguration ceremony attended by key industry figures including Qanot Sharq's General Director Moses Pak...

Regional News

19.06.2024

Less than half of Russians admit value of television

45% of Russians who took part in the NAFI survey consider television to be something valuable. This is how they answered the question about its hypothetical failure for a year. The greatest value of TV is for young people (under 24 years old). In this age group, 53% of respondents...

45% of Russians who took part in the NAFI survey consider television to be something valuable. This is how they answered the question about its hypothetical failure for a year. The greatest value of TV is for young people (under 24 years old). In this age group, 53% of respondents...

19.06.2024

Russian market back in red

The Russian market opened negatively on Tuesday, continuing Monday's decline. By the middle of the day, the situation on a number of shares began to improve. By 14.10 Moscow time, the Moscow Stock Exchange index was losing 0.8% and amounted to 3,157.97 points, the RTS index was down 0.83% and...

The Russian market opened negatively on Tuesday, continuing Monday's decline. By the middle of the day, the situation on a number of shares began to improve. By 14.10 Moscow time, the Moscow Stock Exchange index was losing 0.8% and amounted to 3,157.97 points, the RTS index was down 0.83% and...

19.06.2024

Industry representatives in Russia not ready for dialogue with competitors

Recently, lobbyists of large industry businesses have begun to act more openly, pushing their initiatives through departments directly. This is especially noticeable where, in order to promote the interests of a particular company or industry, it is not necessary to change the legislation, but it is enough to make amendments...

Recently, lobbyists of large industry businesses have begun to act more openly, pushing their initiatives through departments directly. This is especially noticeable where, in order to promote the interests of a particular company or industry, it is not necessary to change the legislation, but it is enough to make amendments...

19.06.2024

Russia counts robots in industrial enterprises

Russia is ahead of the EU countries in terms of the prevalence of robotics in enterprises, but the intensity of robotisation (fleet size) in Russia as a whole turned out to be lower, HSE experts found out. The reason is that in European countries robotics is more often introduced in...

Russia is ahead of the EU countries in terms of the prevalence of robotics in enterprises, but the intensity of robotisation (fleet size) in Russia as a whole turned out to be lower, HSE experts found out. The reason is that in European countries robotics is more often introduced in...

19.06.2024

Yuan holds steady on lower end

China's yuan hovered near a seven-month low against the U.S. dollar on Tuesday as stronger guidance from the central bank offset mixed economic data, while traders awaited U.S. data and comments from Federal Reserve officials for more clarity on interest rate cuts.

By 0356 GMT, the yuan was 0.01% higher at...

China's yuan hovered near a seven-month low against the U.S. dollar on Tuesday as stronger guidance from the central bank offset mixed economic data, while traders awaited U.S. data and comments from Federal Reserve officials for more clarity on interest rate cuts.

By 0356 GMT, the yuan was 0.01% higher at...

19.06.2024

Mainland China stock markets gain ground as Hong Kong slips

China stocks edged up on Tuesday, tracking regional markets higher ahead of a chorus of Federal Reserve officials due to speak later in the day, while Hong Kong shares slipped.

Global investors are looking to a slew of speakers from the Federal Reserve for more clues on the central bank's rate-cutting...

China stocks edged up on Tuesday, tracking regional markets higher ahead of a chorus of Federal Reserve officials due to speak later in the day, while Hong Kong shares slipped.

Global investors are looking to a slew of speakers from the Federal Reserve for more clues on the central bank's rate-cutting...

19.06.2024

China notes fresh signs of steady rebound

China is ramping up stimulus measures to expand domestic demand and boost market confidence in a bid to further consolidate the recovery trend of the world's second-largest economy, said officials and experts.

Li Chao, a spokeswoman for the National Development and Reform Commission, said China's economy is showing fresh signs of...

China is ramping up stimulus measures to expand domestic demand and boost market confidence in a bid to further consolidate the recovery trend of the world's second-largest economy, said officials and experts.

Li Chao, a spokeswoman for the National Development and Reform Commission, said China's economy is showing fresh signs of...