Issue 989 - 22.10.2021
22.10.2021

Uzbekistan introduces Presidential sign and standard (flag)

At a plenary meeting of the Senate of the Oliy Majlis, the Law "On Amendments to the Law of the Republic of Uzbekistan "On Basic Guarantees of the Activities of the President of the Republic of Uzbekistan" was discussed.

It should be noted that this Law was developed by the Ministry of Justice of the Republic of Uzbekistan and consists of 3 articles.

The law proposes to introduce the distinctive signs of the President, that is, his own sign and standard (flag).

The law provides that the description of the mark and standard (flag), the procedure for their official use are determined by the President of the Republic of Uzbekistan.

In foreign countries that have introduced the distinctive signs of the head of state, it has been established that the badge and standard of the head of state are presented to the newly elected president during the inauguration after taking the oath. Due to the fact that these issues are not regulated by the legislation of the Republic of Uzbekistan, it is proposed to supplement the legislation with norms of the corresponding content.

It was noted that the adoption of the Law contributes to the improvement of the legislation of the Republic of Uzbekistan in accordance with the best foreign experience and the establishment of the procedure for using the distinctive signs of the President of the Republic of Uzbekistan.

The law was approved by the senators.

By UzDaily

Uzbekistan General

22.10.2021

Uzbek Parliament to establish strict control over the elimination of existing shortcomings

On 21 October 2021, at the twentieth plenary meeting of the Senate of the Republic of Uzbekistan, the response of the Cabinet of Ministers to a previously sent parliamentary request on the state of implementation of measures aimed at recovery and development of tourism after the coronavirus pandemic was considered.

During...

On 21 October 2021, at the twentieth plenary meeting of the Senate of the Republic of Uzbekistan, the response of the Cabinet of Ministers to a previously sent parliamentary request on the state of implementation of measures aimed at recovery and development of tourism after the coronavirus pandemic was considered.

During...

22.10.2021

Uzbekistan receives new batches of vaccines against COVID-19

Uzbekistan received new batches of coronavirus vaccines. This was reported by the press service of the Ministry of Health of Uzbekistan.

The ministry noted that today 912,000 doses of Sinovac vaccines have been delivered to Uzbekistan.

Jurabek Laboratories also supplied 2,755,820 doses of locally produced ZF-UZ-VAC2001 vaccine.

In total, Uzbekistan received more than...

Uzbekistan received new batches of coronavirus vaccines. This was reported by the press service of the Ministry of Health of Uzbekistan.

The ministry noted that today 912,000 doses of Sinovac vaccines have been delivered to Uzbekistan.

Jurabek Laboratories also supplied 2,755,820 doses of locally produced ZF-UZ-VAC2001 vaccine.

In total, Uzbekistan received more than...

Finance and Investment

22.10.2021

Deposits of population in banks of Uzbekistan continue to grow

Increasing rates and slowing inflation are boosting confidence in bank deposits.

Over 9 months, time deposits in national currency increased by 29.5%, and the total deposits of the population by 51%, follows from the data of the Central Bank.

The regulator explains such a sharp growth by the persistence of high interest...

Increasing rates and slowing inflation are boosting confidence in bank deposits.

Over 9 months, time deposits in national currency increased by 29.5%, and the total deposits of the population by 51%, follows from the data of the Central Bank.

The regulator explains such a sharp growth by the persistence of high interest...

22.10.2021

Central Bank of Uzbekistan keeps base rate at 14% per annum

The Central Bank left the base rate unchanged at 14% per annum. The decision was made to reduce the inflation rate to 10% by the end of the year, the regulator noted. The main driver of inflation this year was the rise in food prices.

The Board of the Central Bank...

The Central Bank left the base rate unchanged at 14% per annum. The decision was made to reduce the inflation rate to 10% by the end of the year, the regulator noted. The main driver of inflation this year was the rise in food prices.

The Board of the Central Bank...

22.10.2021

Cash markets depressed as US Federal Reserve keeps dragging feet

Risk sensitive currenciesincluding the Australian dollar slipped on Thursday and the safe-haven Japanese yen gained as concerns about rising inflation and less loose central bank policy dented risk sentiment.

"We're seeing a little bit of a risk-off today and I think that's being driven by concerns we're getting closer to that...

Risk sensitive currenciesincluding the Australian dollar slipped on Thursday and the safe-haven Japanese yen gained as concerns about rising inflation and less loose central bank policy dented risk sentiment.

"We're seeing a little bit of a risk-off today and I think that's being driven by concerns we're getting closer to that...

22.10.2021

Bears rival bulls on stock markets around the world

European shares were lower on Thursday as the spectre of China Evergrande's debt mountain resurfaced to spook investors while cost inflation worries continued to hit sentiment.

The pan-European Stoxx 600 index was down 0.13% with all regional bourses lower. Asian stocks fell on news about the collapse of a $2.6bn sale at property...

European shares were lower on Thursday as the spectre of China Evergrande's debt mountain resurfaced to spook investors while cost inflation worries continued to hit sentiment.

The pan-European Stoxx 600 index was down 0.13% with all regional bourses lower. Asian stocks fell on news about the collapse of a $2.6bn sale at property...

Oil and Gas Sector

22.10.2021

Uzbekistan prolongs suspension of natural gas exports

Uzbekistan will not sell natural gas as raw materials. President of Uzbekistan Shavkat Mirziyoyev stated this on Thursday.

According to him, Uzbekistan currently does not export natural gas. “We are ready to import gas ourselves from abroad in connection with the development of industry. Gas is a legacy for future generations,”...

Uzbekistan will not sell natural gas as raw materials. President of Uzbekistan Shavkat Mirziyoyev stated this on Thursday.

According to him, Uzbekistan currently does not export natural gas. “We are ready to import gas ourselves from abroad in connection with the development of industry. Gas is a legacy for future generations,”...

22.10.2021

Brent up to $86.10, then down to $85.03/b

Oil hit a three-year high above $86 a barrel on Thursday driven by tight supply and a global energy crunch, although prices eased as some investors took profits on signs the rally is looking overstretched.

Helping to drive the latest gain, a supply report from the U.S. Energy Information Administration on...

Oil hit a three-year high above $86 a barrel on Thursday driven by tight supply and a global energy crunch, although prices eased as some investors took profits on signs the rally is looking overstretched.

Helping to drive the latest gain, a supply report from the U.S. Energy Information Administration on...

Trade and Consumer Goods

22.10.2021

EAEU foreign trade volume exceeds pre-pandemic level

The volume of trade of the members of the Eurasian Economic Union with third countries exceeded the pre-pandemic level. This was announced on October 20 by the official representative of the EEC Iya Malkina. The Commission also named the leaders of the EAEU in terms of export growth in mutual...

The volume of trade of the members of the Eurasian Economic Union with third countries exceeded the pre-pandemic level. This was announced on October 20 by the official representative of the EEC Iya Malkina. The Commission also named the leaders of the EAEU in terms of export growth in mutual...

22.10.2021

Eurasian Economic Commission discusses problematic issues of circulation of goods in EAEU

Problematic issues of the circulation of goods imported into the territory of the Eurasian Economic Union with the use of import customs duty rates that are different from those established by the Unified Customs Tariff were discussed by the high-level heads of the authorised bodies of the states of the...

Problematic issues of the circulation of goods imported into the territory of the Eurasian Economic Union with the use of import customs duty rates that are different from those established by the Unified Customs Tariff were discussed by the high-level heads of the authorised bodies of the states of the...

22.10.2021

Food prices in Uzbekistan up 14.4%

At the end of September 2021, Uzbekistan’s annual inflation amounted to 10.8%, which is slightly higher than the forecast in the baseline scenario. In addition, the prices of food products rose by 14.4% in annual terms, energy products by 23.2%.

“The main driver determining the dynamics of general inflation in the...

At the end of September 2021, Uzbekistan’s annual inflation amounted to 10.8%, which is slightly higher than the forecast in the baseline scenario. In addition, the prices of food products rose by 14.4% in annual terms, energy products by 23.2%.

“The main driver determining the dynamics of general inflation in the...

Agriculture

22.10.2021

Spaniards intend to grow blueberries in Uzbekistan for export

The Spanish company Ideal Fruits became interested in the cultivation of blueberries in Uzbekistan, focusing on the climate of the region. It is planned that Uzbek blueberries will be able to cover the need for berries in the first summer months.

Previously, only the Nurli Oshom Tongi company was engaged in...

The Spanish company Ideal Fruits became interested in the cultivation of blueberries in Uzbekistan, focusing on the climate of the region. It is planned that Uzbek blueberries will be able to cover the need for berries in the first summer months.

Previously, only the Nurli Oshom Tongi company was engaged in...

22.10.2021

US benchmark grain contracts ease as oil price gets retreats from peak

Chicago wheat futures pulled back from a two-week high hit earlier on Thursday as weaker crude oil prices and a firmer U.S. dollar offset tightening global supplies. Soybeans fell after rising for five straight sessions, while corn edged lower.

The most-active wheat contract on the Chicago Board of Trade (CBOT) was...

Chicago wheat futures pulled back from a two-week high hit earlier on Thursday as weaker crude oil prices and a firmer U.S. dollar offset tightening global supplies. Soybeans fell after rising for five straight sessions, while corn edged lower.

The most-active wheat contract on the Chicago Board of Trade (CBOT) was...

Metals and Minerals

22.10.2021

Bullion upheld by ailing greenback, inflation spectre

Gold prices dipped slightly on Thursday on elevated U.S. Treasury yields, but there was some support from concerns over persistently higher inflation.

Spot gold fell 0.2% to $1,777.70 per ounce by 1202 GMT, largely trading in a narrow range. U.S. gold futures fell 0.3% to $1,780.40.

“Rising yields have been obviously negative...

Gold prices dipped slightly on Thursday on elevated U.S. Treasury yields, but there was some support from concerns over persistently higher inflation.

Spot gold fell 0.2% to $1,777.70 per ounce by 1202 GMT, largely trading in a narrow range. U.S. gold futures fell 0.3% to $1,780.40.

“Rising yields have been obviously negative...

22.10.2021

Non-ferrous base metals cool down as supply vs demand gap narrows

Copper prices fell on Thursday as a short squeeze on the London Metal Exchange (LME) eased and attention refocused on the threat of slowing demand in top consumer China.

Benchmark LME copper was down 2.6% at $9,926 a tonne at 1105 GMT and the premium for cash copper over the three-month...

Copper prices fell on Thursday as a short squeeze on the London Metal Exchange (LME) eased and attention refocused on the threat of slowing demand in top consumer China.

Benchmark LME copper was down 2.6% at $9,926 a tonne at 1105 GMT and the premium for cash copper over the three-month...

Manufacturing industry

22.10.2021

Uztekstilprom intends to export underwear and swimwear to French consumers

According to the information service of the Uztekstilprom association, on October 18, the Uzbek Embassy, together with the Paris Fashion Academy and the Uzbektekstilprom Association, organised a meeting in the VKS format with representatives of the Union of the Textile Industry and the Federation of Textiles, Lingerie and Swimwear of...

According to the information service of the Uztekstilprom association, on October 18, the Uzbek Embassy, together with the Paris Fashion Academy and the Uzbektekstilprom Association, organised a meeting in the VKS format with representatives of the Union of the Textile Industry and the Federation of Textiles, Lingerie and Swimwear of...

22.10.2021

Management companies show positive changes in situation with maintenance of Uzbek high-rise buildings

This information was announced by the Ministry of Housing and Communal Services during the twentieth plenary session of the Senate.

In the Yunusabad district, there are 12 management companies that, in accordance with the law, won an open tender presented on the official website of the Tashkent city administration and started...

This information was announced by the Ministry of Housing and Communal Services during the twentieth plenary session of the Senate.

In the Yunusabad district, there are 12 management companies that, in accordance with the law, won an open tender presented on the official website of the Tashkent city administration and started...

22.10.2021

Uzbek head of state visits assembly plant for KIA, Renault and Lada cars in Jizzakh

ADM Jizzakh limited liability company, located in the Jizzakh free economic zone, has organized a large-scale assembly of cars. This is the first phase of the project, which was launched in March this year.

President Shavkat Mirziyoyev got acquainted with the work process at the plant.

The cost of this first project...

ADM Jizzakh limited liability company, located in the Jizzakh free economic zone, has organized a large-scale assembly of cars. This is the first phase of the project, which was launched in March this year.

President Shavkat Mirziyoyev got acquainted with the work process at the plant.

The cost of this first project...

Communications and Transportation

22.10.2021

Uzbekistan Airports cuts tariffs for foreign airlines

Reducing rates and fees will increase the competitiveness of Uzbekistan's airports and attract more foreign air carriers.

The management of Uzbekistan Airports has approved a new list of rates and charges for ground handling of regular flights operated by foreign airlines. In particular, the rates and fees for the following services...

Reducing rates and fees will increase the competitiveness of Uzbekistan's airports and attract more foreign air carriers.

The management of Uzbekistan Airports has approved a new list of rates and charges for ground handling of regular flights operated by foreign airlines. In particular, the rates and fees for the following services...

Regional News

22.10.2021

Energy CO2 emissions in Russia decrease faster than world average

PwC has unveiled the latest PwC Net Zero Economy Index 2021 it is designed to track the decarbonisation of the industry and the level of global energy consumption. The annual study does not consider emissions from other sectors of the economy, as well as other greenhouse gases except CO2, it...

PwC has unveiled the latest PwC Net Zero Economy Index 2021 it is designed to track the decarbonisation of the industry and the level of global energy consumption. The annual study does not consider emissions from other sectors of the economy, as well as other greenhouse gases except CO2, it...

22.10.2021

Russia continues to add gold to forex reserves

The holdings of monetary gold in Russia’s foreign exchange reserves increased by 0.14% last month, amounting to 73.9 million ounces (2,298.547 tons) as of October 1, the Central Bank of Russia reports.

Statistics show that the Russian central bank added 3.1 tons of gold in September. This comes as the bank...

The holdings of monetary gold in Russia’s foreign exchange reserves increased by 0.14% last month, amounting to 73.9 million ounces (2,298.547 tons) as of October 1, the Central Bank of Russia reports.

Statistics show that the Russian central bank added 3.1 tons of gold in September. This comes as the bank...

22.10.2021

Russian economy may lose $844.75m from restrictive measures

The losses of the Russian economy from the introduction of restrictive measures for two weeks may reach 60 billion rouble ($844.75 mln), First Deputy Prime Minister Andrey Belousov said at a meeting of the Russian President and members of the government.

"The losses are estimated at 4 billion rouble per day...

The losses of the Russian economy from the introduction of restrictive measures for two weeks may reach 60 billion rouble ($844.75 mln), First Deputy Prime Minister Andrey Belousov said at a meeting of the Russian President and members of the government.

"The losses are estimated at 4 billion rouble per day...

22.10.2021

Bears hold Russian stock, currency markets in grip

The Russian rouble eased on Thursday, slipping from a 15-month peak against the dollar hit the day before and extending losses after Moscow announced a lockdown designed to limit the spread of COVID-19.

At 1101 GMT, the rouble was 0.5% weaker against the dollar at 71.14, moving away from its strongest...

The Russian rouble eased on Thursday, slipping from a 15-month peak against the dollar hit the day before and extending losses after Moscow announced a lockdown designed to limit the spread of COVID-19.

At 1101 GMT, the rouble was 0.5% weaker against the dollar at 71.14, moving away from its strongest...

22.10.2021

China stocks rise on realty, coal shares boost

China stocks closed higher on Thursday as property and coal shares rebounded, after assurances from officials eased worries over the real estate sector.

The blue-chip CSI300 index rose 0.4% to 4,928.02 points, while the Shanghai Co

Property firms surged 3.8%, snapping six straight sessions of decline, as investors bought the dip.

More Chinese...

China stocks closed higher on Thursday as property and coal shares rebounded, after assurances from officials eased worries over the real estate sector.

The blue-chip CSI300 index rose 0.4% to 4,928.02 points, while the Shanghai Co

Property firms surged 3.8%, snapping six straight sessions of decline, as investors bought the dip.

More Chinese...

22.10.2021

China's non-financial outbound direct investment down 5.25% in January- September

China's non-financial outbound direct investment (ODI) went down 5.2 percent year on year to 522.76 billion yuan in the first nine months of this year, official data showed Thursday.

In U.S. dollar terms, China's non-financial ODI rose 2.4 percent to 80.78 billion dollars, according to the Ministry of Commerce.

In the January-September...

China's non-financial outbound direct investment (ODI) went down 5.2 percent year on year to 522.76 billion yuan in the first nine months of this year, official data showed Thursday.

In U.S. dollar terms, China's non-financial ODI rose 2.4 percent to 80.78 billion dollars, according to the Ministry of Commerce.

In the January-September...

Prices and Statistics

22.10.2021

Commodities

Date: October 22, 2021; Source: Bloomberg.com

Date: October 22, 2021; Source: Bloomberg.com

22.10.2021

Exchange Rates

Date: October 22, 2021; Source: the Central Bank of Uzbekistan
1 US DOLLAR USD / UZS 10692.00
1 EURO EUR / UZS 12447.63
1 RUSSIAN ROUBLE RUB / UZS 150.46
1 GREAT BRITIAN POUND GBP / UZS 14754.96
1 KAZAKHSTAN TENGE KZT / UZS 25.09

Date: October 22, 2021; Source: the Central Bank of Uzbekistan

1 US DOLLAR

USD / UZS

10692.00

1 EURO

EUR / UZS

12447.63

1 RUSSIAN ROUBLE

RUB / UZS

150.46

1 GREAT BRITIAN POUND

GBP / UZS

14754.96

1 KAZAKHSTAN TENGE

KZT / UZS

25.09