Issue 763 - 24.11.2020
24.11.2020

Uzbekistan establishes parliamentary commission on ensuring the country's compliance with human rights obligations

The Uzbek Parliament has established a parliamentary commission on the country’s compliance with international human rights obligations, the press service of the National Centre for Human Rights informed.

The presidential decree of June 22, 2020 “On the approval of the national strategy of Uzbekistan in the field of human rights” contained a recommendation to Parliament to establish the commission.

In accordance with this recommendation, the Council of the Legislative Chamber and the Council of the Senate adopted an important joint decision on the establishment of a parliamentary commission on the country’s compliance with the international human rights obligations, which also approved its composition and regulations.

The main objective of the parliamentary commission is to guarantee Uzbekistan’s compliance with international human rights obligations and the implementation of the country’s national human rights strategy.

The process entails the following commitments:

• to participate in the implementation of policies aimed at safeguarding human rights and interests; • to ensure the implementation of international human rights standards in national legislation; • to promote the process of building respect for human rights and freedoms; • to coordinate the qualitative implementation of national human rights action plans, with particular emphasis on practical cooperation between parliament, government and civil society institutions.

It is envisaged that the Commission shall report annually on its activities to the Legislative Chamber and the Senate.

The First Deputy Speaker of the Legislative Chamber, Akmal Saidov, has been appointed Chairman of the Commission, and the Vice-Chairman of the Senate, Zayniddin Nizomkhojayev, has been appointed Deputy Chairman.

Reported by KUN (Uzbekistan).

Uzbekistan General

24.11.2020

Uzbekistan’s COVID-19 recovery rate hits 96%

As of 20:00 on 23 November 2020, the number of registered cases of coronavirus infections in Uzbekistan made up 71,774 (+61).

One coronavirus patient died yesterday, bringing the total number to 604.

Thus, 69,054 (+139) people with coronavirus infection have been cured in our country, and the recovery rate is 96%.

Currently, 2116...

As of 20:00 on 23 November 2020, the number of registered cases of coronavirus infections in Uzbekistan made up 71,774 (+61).

One coronavirus patient died yesterday, bringing the total number to 604.

Thus, 69,054 (+139) people with coronavirus infection have been cured in our country, and the recovery rate is 96%.

Currently, 2116...

Finance and Investment

24.11.2020

Uzbekistan’s stock market capitalisation exceeds $5 billion

The total market capitalisation of the Toshkent Republican Stock Exchange as of November 1, 2020, amounted to 52.55 trillion soum (more than $5 billion), the Capital Market Development Agency reported.

In the first 10 months of 2020, 30,489 transactions with securities of 96 companies were recorded for 421.1 billion soum at...

The total market capitalisation of the Toshkent Republican Stock Exchange as of November 1, 2020, amounted to 52.55 trillion soum (more than $5 billion), the Capital Market Development Agency reported.

In the first 10 months of 2020, 30,489 transactions with securities of 96 companies were recorded for 421.1 billion soum at...

24.11.2020

Uzbek Ministry of Innovative Development allocates 604.6 billion soum from budget funds

In 2020, the Ministry of Innovative Development allocated 604.6 billion soum in budget funds for the science sector. Of these, 428.2 billion soum (71%) were directed to state programs for scientific activities, 95.2 billion soums (16%) - for supplements for doctoral studies and academic degrees, and the remaining 81.2 billion...

In 2020, the Ministry of Innovative Development allocated 604.6 billion soum in budget funds for the science sector. Of these, 428.2 billion soum (71%) were directed to state programs for scientific activities, 95.2 billion soums (16%) - for supplements for doctoral studies and academic degrees, and the remaining 81.2 billion...

24.11.2020

Greenback resumes free fall as investment mood clears

Risk appetite in currency markets was boosted by progress towards a COVID-19 vaccine rollout even as PMI data showed a sharp contraction in euro zone business activity as a result of lockdown restrictions.

AstraZeneca on Monday said that its vaccine could be about 90% effective and it will prepare to submit...

Risk appetite in currency markets was boosted by progress towards a COVID-19 vaccine rollout even as PMI data showed a sharp contraction in euro zone business activity as a result of lockdown restrictions.

AstraZeneca on Monday said that its vaccine could be about 90% effective and it will prepare to submit...

24.11.2020

Stock market rush observed on bug busting hopes

Investors scooped up stocks, commodities and emerging-market currencies and gave the dollar a wide berth as AstraZeneca and Oxford University provided markets with their now-regular Monday shot of encouraging COVID-19 vaccine news.The STOXX index of Europe’s 600 largest firms rose to its highest since February, Wall Street was pointing up...

Investors scooped up stocks, commodities and emerging-market currencies and gave the dollar a wide berth as AstraZeneca and Oxford University provided markets with their now-regular Monday shot of encouraging COVID-19 vaccine news.The STOXX index of Europe’s 600 largest firms rose to its highest since February, Wall Street was pointing up...

Oil and Gas Sector

24.11.2020

Uzbekneftegaz, VEB.RF sign memorandum on credit line for US$650 million

Uzbekneftegaz together with the State Development Corporation VEB.RF are working on the issue of financing the second stage of the program to increase the production of hydrocarbons.

Within the framework of the visit of the management of Uzbekneftegaz to the city of Moscow, a meeting was held with representatives of the...

Uzbekneftegaz together with the State Development Corporation VEB.RF are working on the issue of financing the second stage of the program to increase the production of hydrocarbons.

Within the framework of the visit of the management of Uzbekneftegaz to the city of Moscow, a meeting was held with representatives of the...

24.11.2020

Uzbekneftegaz and Gazprombank discuss main conditions for attracting credit funds

Chairman of the Board of Uzbekneftegaz Mehriddin Abdullayev during his visit to the city of Moscow (Russia), held talks with Deputy Chairman of the Board of Gazprombank Alexey Belous.

During the negotiations, the main conditions for attracting loans from a Russian bank were discussed as part of financing the second stage...

Chairman of the Board of Uzbekneftegaz Mehriddin Abdullayev during his visit to the city of Moscow (Russia), held talks with Deputy Chairman of the Board of Gazprombank Alexey Belous.

During the negotiations, the main conditions for attracting loans from a Russian bank were discussed as part of financing the second stage...

24.11.2020

Gas consumption in Uzbekistan increases from 46 to 70 million cubic metres

Due to the sharp drop in air temperature in Uzbekistan, the daily consumption of natural gas in recent days has increased from 46 to 70 million cubic metres, which significantly increased the load on the operation of networks, gas distribution equipment and dispatch services of the units of Khududgaztaminot.

According to...

Due to the sharp drop in air temperature in Uzbekistan, the daily consumption of natural gas in recent days has increased from 46 to 70 million cubic metres, which significantly increased the load on the operation of networks, gas distribution equipment and dispatch services of the units of Khududgaztaminot.

According to...

24.11.2020

Uzbekistan’s gas overconsumption by individual subscribers exceeds the norm by several times

It was revealed that gas consumption by some subscribers reaches 7,000 cubic meters of gas a month, while according to the technical projects of gasification of these households, the average consumption should not exceed 1000 cubic meters of gas per month. This was stated by Tokhir Turdiev, Deputy Chairman of...

It was revealed that gas consumption by some subscribers reaches 7,000 cubic meters of gas a month, while according to the technical projects of gasification of these households, the average consumption should not exceed 1000 cubic meters of gas per month. This was stated by Tokhir Turdiev, Deputy Chairman of...

24.11.2020

Brent tops $45/b threshold once more

Oil prices rose more than 1% on Monday, extending last week’s gains as traders anticipated coronavirus vaccine trials would spur a recovery in demand.

Sentiment was also bolstered by expectations that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, would extend a...

Oil prices rose more than 1% on Monday, extending last week’s gains as traders anticipated coronavirus vaccine trials would spur a recovery in demand.

Sentiment was also bolstered by expectations that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, would extend a...

Trade and Consumer Goods

24.11.2020

In October, the largest increase in consumer prices was recorded among the EAEU countries

In October 2020, compared to October 2019, consumer prices for goods and services in the EAEU as a whole increased by 4.5%, compared to September 2020, by 0.5%, according to the information of the Eurasian Economic Commission.

It is noted that in October consumer prices rose in all the EAEU countries.

At...

In October 2020, compared to October 2019, consumer prices for goods and services in the EAEU as a whole increased by 4.5%, compared to September 2020, by 0.5%, according to the information of the Eurasian Economic Commission.

It is noted that in October consumer prices rose in all the EAEU countries.

At...

24.11.2020

UzEX opens trading platform in Ukraine

According to the information service of the Uzbek National Commodity and Raw Materials Exchange, UzEX has opened the first foreign trading platform in the city of Kiev. Its founder was the Ukrainian company TRADE-BB.

The opening and registration of the foreign trading platform took place during the business visit of the...

According to the information service of the Uzbek National Commodity and Raw Materials Exchange, UzEX has opened the first foreign trading platform in the city of Kiev. Its founder was the Ukrainian company TRADE-BB.

The opening and registration of the foreign trading platform took place during the business visit of the...

24.11.2020

New stage of product labelling starts in Uzbekistan

The Cabinet of Ministers adopted a resolution on the introduction of a mandatory digital labelling system for certain types of goods. This was reported by the press service of the State Tax Committee.

The document approves the phased implementation of a mandatory digital marking system for certain types of products. In...

The Cabinet of Ministers adopted a resolution on the introduction of a mandatory digital labelling system for certain types of goods. This was reported by the press service of the State Tax Committee.

The document approves the phased implementation of a mandatory digital marking system for certain types of products. In...

24.11.2020

Uzbekistan develops unified electronic classifier of goods

The State Tax Committee (STC) has developed a unified electronic classifier of goods (works, services), sold in Uzbekistan, in test mode. This was reported by the press service of the committee.

The classifier is designed to ensure a systematic and consistent exchange of electronic data between business entities.

Business entities will be...

The State Tax Committee (STC) has developed a unified electronic classifier of goods (works, services), sold in Uzbekistan, in test mode. This was reported by the press service of the committee.

The classifier is designed to ensure a systematic and consistent exchange of electronic data between business entities.

Business entities will be...

Agriculture

24.11.2020

In September, prices of agricultural producers in the EAEU as a whole increased by 4.3%

In September 2020, compared to September 2019, the prices of agricultural producers in the EAEU as a whole increased by 4.3%. This is stated in the information of the Eurasian Economic Commission dated October 28, 2020.

In June 2020, prices increased by 1.7% compared to June 2019.

Reported by Tazabek...

In September 2020, compared to September 2019, the prices of agricultural producers in the EAEU as a whole increased by 4.3%. This is stated in the information of the Eurasian Economic Commission dated October 28, 2020.

In June 2020, prices increased by 1.7% compared to June 2019.

Reported by Tazabek (Kyrgyzstan)

...
24.11.2020

Diet lamb without specific smell appears in Uzbekistan

Diet lamb without a specific smell will appear in Uzbekistan. Jizzax Organic, the largest agricultural cluster of Uzbekistan, will be engaged in its production.

In November 2020, the national cluster brought to Uzbekistan 2,100 Dorper sheep and rams from Australia. These animals are unpretentious in food and tolerate hot, arid climate...

Diet lamb without a specific smell will appear in Uzbekistan. Jizzax Organic, the largest agricultural cluster of Uzbekistan, will be engaged in its production.

In November 2020, the national cluster brought to Uzbekistan 2,100 Dorper sheep and rams from Australia. These animals are unpretentious in food and tolerate hot, arid climate...

24.11.2020

Uzbekistan regulates transfer of greenhouses to alternative fuel sources

The Ministry of Energy of Uzbekistan, analyzing appeals on the Internet regarding the shutdown of gas supply to greenhouses, recalls that the transfer to alternative fuel sources in the autumn-winter period is envisaged in their contracts.

Greenhouses are seasonal consumers of natural gas, which is reflected in their contracts with gas...

The Ministry of Energy of Uzbekistan, analyzing appeals on the Internet regarding the shutdown of gas supply to greenhouses, recalls that the transfer to alternative fuel sources in the autumn-winter period is envisaged in their contracts.

Greenhouses are seasonal consumers of natural gas, which is reflected in their contracts with gas...

24.11.2020

Uzbekistan opens up foreign markets for agro producers

The official launch of a trade and information portal took place recently, which opens up wide opportunities for intraregional and international trade for agricultural producers and gives a chance for positive changes in local systems of agricultural production and production of non-timber forest products in Kyrgyzstan, Tajikistan and Uzbekistan.

This trade...

The official launch of a trade and information portal took place recently, which opens up wide opportunities for intraregional and international trade for agricultural producers and gives a chance for positive changes in local systems of agricultural production and production of non-timber forest products in Kyrgyzstan, Tajikistan and Uzbekistan.

This trade...

24.11.2020

Russian wheat sales prices drop as bad news proves exaggerated

Russian wheat export prices fell last week after two weeks of growth amid stable wheat prices in Chicago, a global benchmark for this market, analysts said on Monday. Russian wheat with 12.5% protein loading from Black Sea ports and for supply in December was at $252 a tonne free on...

Russian wheat export prices fell last week after two weeks of growth amid stable wheat prices in Chicago, a global benchmark for this market, analysts said on Monday. Russian wheat with 12.5% protein loading from Black Sea ports and for supply in December was at $252 a tonne free on...

24.11.2020

US grain futures up on southern hemisphere harvest concerns

Chicago soybean futures rose to their highest in 4-1/2 years on Monday, touching $12 a bushel as dry weather in key suppliers Brazil and Argentina stoked supply concerns.

Corn and wheat also rose, supported by supply worries and brisk demand.

Chicago Board of Trade most-active soybeans rose 1.3% to $11.96-1/2 a bushel...

Chicago soybean futures rose to their highest in 4-1/2 years on Monday, touching $12 a bushel as dry weather in key suppliers Brazil and Argentina stoked supply concerns.

Corn and wheat also rose, supported by supply worries and brisk demand.

Chicago Board of Trade most-active soybeans rose 1.3% to $11.96-1/2 a bushel...

Metals and Minerals

24.11.2020

Bullion retreats as vaccine hopes nourish risk-bearing markets

Gold prices eased on Monday as drugmaker AstraZeneca injected fresh optimism into the race for a COVID-19 vaccine, bolstering appetite for riskier assets and overshadowing support for bullion from a weaker dollar.

Spot gold fell 0.3% to $1,865.20 per ounce by 1145 GMT and U.S. gold futures fell 0.5% to $1,863.30.

Britain's...

Gold prices eased on Monday as drugmaker AstraZeneca injected fresh optimism into the race for a COVID-19 vaccine, bolstering appetite for riskier assets and overshadowing support for bullion from a weaker dollar.

Spot gold fell 0.3% to $1,865.20 per ounce by 1145 GMT and U.S. gold futures fell 0.5% to $1,863.30.

Britain's...

24.11.2020

Nickel price surges amidst other base metals’ retreat

London copper prices on Monday retreated from a 29-month peak touched in the previous session amid thin trade, as rising coronavirus cases globally tempered optimism over a rollout of vaccines.

Most major economies, other than top metals consumer China, are nearing record levels of borrowing to cover their COVID-19 costs, Kingdom...

London copper prices on Monday retreated from a 29-month peak touched in the previous session amid thin trade, as rising coronavirus cases globally tempered optimism over a rollout of vaccines.

Most major economies, other than top metals consumer China, are nearing record levels of borrowing to cover their COVID-19 costs, Kingdom...

Energy Industry

24.11.2020

Uzbekistan outlines innovative energy policy

The Ministry of Energy of Uzbekistan issued a statement according to which the only possible way for the consistent development of the country's economy is a gradual transition of industrial enterprises to alternative energy sources, coal or liquefied gas.

Bad news. But there is also a good one. The ministry is...

The Ministry of Energy of Uzbekistan issued a statement according to which the only possible way for the consistent development of the country's economy is a gradual transition of industrial enterprises to alternative energy sources, coal or liquefied gas.

Bad news. But there is also a good one. The ministry is...

Manufacturing industry

24.11.2020

Kazakhstan and Uzbekistan open garment factory in Turkestan

A Kazakh-Uzbek textile factory was opened in Turkestan. Prime Ministers of the two countries Askar Mamin and Abdulla Aripov met in the city to launch the joint venture Turkistan Textile.

"The garment factory is located on an area of 2 hectares in the industrial zone of Turkmenistan. The volume of investments...

A Kazakh-Uzbek textile factory was opened in Turkestan. Prime Ministers of the two countries Askar Mamin and Abdulla Aripov met in the city to launch the joint venture Turkistan Textile.

"The garment factory is located on an area of 2 hectares in the industrial zone of Turkmenistan. The volume of investments...

Communications and Transportation

24.11.2020

Review of prices in the secondary car market in Uzbekistan posted

In the October review of the Centre for Economic Research and Reforms, experts conducted an empirical search for factors influencing the price of a car in Uzbekistan on the secondary market.

The purpose of this study is to assess the degree of influence of various characteristics of cars on the prices...

In the October review of the Centre for Economic Research and Reforms, experts conducted an empirical search for factors influencing the price of a car in Uzbekistan on the secondary market.

The purpose of this study is to assess the degree of influence of various characteristics of cars on the prices...

24.11.2020

Intercity bus routes from Tashkent to regions resumed

Intercity bus services from Tashkent to the regions of Uzbekistan will resume from 24 November. This was reported by the press service of the capital's bus station.

As a reminder, intercity bus services were suspended from 19 November due to weather conditions.

It should be reminded that on 18 November snow fell...

Intercity bus services from Tashkent to the regions of Uzbekistan will resume from 24 November. This was reported by the press service of the capital's bus station.

As a reminder, intercity bus services were suspended from 19 November due to weather conditions.

It should be reminded that on 18 November snow fell...

Regional News

24.11.2020

International investors positive about pace of recovery and state of Russia’s economy

Trading dynamics on Friday were mixed. The growth leaders were shares of DVMP (FESH 12.15, +4.11%) and Detsky Mir (DSKY 126.16, +2.49%). HeadHunter papers were the outsiders (HHRU 1 889.4, -4.84%). The USD/RUB pair was trading in the range of 76-77.

Investor capital inflows are increasing. Inflows to funds focused on...

Trading dynamics on Friday were mixed. The growth leaders were shares of DVMP (FESH 12.15, +4.11%) and Detsky Mir (DSKY 126.16, +2.49%). HeadHunter papers were the outsiders (HHRU 1 889.4, -4.84%). The USD/RUB pair was trading in the range of 76-77.

Investor capital inflows are increasing. Inflows to funds focused on...

24.11.2020

Sales in Russian stocks expected to become more active

In the coming week, several factors can be identified that can have an impact on world markets.

So, investors will continue to monitor the situation with the spread of coronavirus. Players fear that quarantine restrictions will continue to tighten in Europe and the United States, which will negatively affect the pace...

In the coming week, several factors can be identified that can have an impact on world markets.

So, investors will continue to monitor the situation with the spread of coronavirus. Players fear that quarantine restrictions will continue to tighten in Europe and the United States, which will negatively affect the pace...

24.11.2020

Russia embarks on reforming major development institutions

The Russian government has approved the concept of restructuring developmental institutions, in accordance with which a single development institution will be created in Russia on the basis of the state corporation VEB.RF. In addition, the reform involves uniting institutions with similar activities and preserving institutions with special goals, according to...

The Russian government has approved the concept of restructuring developmental institutions, in accordance with which a single development institution will be created in Russia on the basis of the state corporation VEB.RF. In addition, the reform involves uniting institutions with similar activities and preserving institutions with special goals, according to...

24.11.2020

Russian equity, currency ride high, competitive vaccine given credit

The rouble firmed on Monday and Russian stocks climbed to month-long highs, as general optimism over vaccines against COVID-19 supported oil prices and risk assets, even as infections ticked up around the world.

At 0738 GMT, the rouble was 0.6% stronger against the dollar at 75.78 and had gained 0.5% to...

The rouble firmed on Monday and Russian stocks climbed to month-long highs, as general optimism over vaccines against COVID-19 supported oil prices and risk assets, even as infections ticked up around the world.

At 0738 GMT, the rouble was 0.6% stronger against the dollar at 75.78 and had gained 0.5% to...

24.11.2020

China’s stock markets reach for the stars on industrial push

China's blue-chip index on Monday ended at its highest in more than five years, led by gains in materials and energy stocks, as hopes of a vaccine-led recovery boosted risk appetite.

The blue-chip CSI300 index rose 1.3% to 5,005.03, its highest closing level since June 17, 2015, while the Shanghai Composite...

China's blue-chip index on Monday ended at its highest in more than five years, led by gains in materials and energy stocks, as hopes of a vaccine-led recovery boosted risk appetite.

The blue-chip CSI300 index rose 1.3% to 5,005.03, its highest closing level since June 17, 2015, while the Shanghai Composite...

24.11.2020

Chinese banks log forex settlement surplus in October

China's commercial banks saw a net forex settlement surplus of 87.1 billion yuan ($13.24 billion) in October, the country's forex regulator said on Friday.

Forex purchases by banks stood at 1.03 trillion yuan last month, while sales came in at 940.8 billion yuan, data from the State Administration of Foreign Exchange...

China's commercial banks saw a net forex settlement surplus of 87.1 billion yuan ($13.24 billion) in October, the country's forex regulator said on Friday.

Forex purchases by banks stood at 1.03 trillion yuan last month, while sales came in at 940.8 billion yuan, data from the State Administration of Foreign Exchange...

24.11.2020

China's bond market sees 4.8-trillion-yuan issuance in October

The total bond issuance in China stood at 4.8 trillion yuan ($729.6 billion) in October, data from the central bank showed.

The issuance of treasury bonds reached 783.11 billion yuan, while the issuance of local government bonds stood at 442.93 billion yuan, according to the People's Bank of China.

Last month, financial...

The total bond issuance in China stood at 4.8 trillion yuan ($729.6 billion) in October, data from the central bank showed.

The issuance of treasury bonds reached 783.11 billion yuan, while the issuance of local government bonds stood at 442.93 billion yuan, according to the People's Bank of China.

Last month, financial...

24.11.2020

China's cargo throughput maintains stable growth in first 10 months

China's cargo throughput at ports posted stable growth in the first 10 months of 2020, expanding 3.7 percent year-on-year to 11.93 billion tonnes, official data shows.

At the beginning of 2020, the Ministry of Transport expanded the statistical range from major ports to all ports across the country.

Foreign-trade cargo throughput stood...

China's cargo throughput at ports posted stable growth in the first 10 months of 2020, expanding 3.7 percent year-on-year to 11.93 billion tonnes, official data shows.

At the beginning of 2020, the Ministry of Transport expanded the statistical range from major ports to all ports across the country.

Foreign-trade cargo throughput stood...

Prices and Statistics

24.11.2020

Commodities

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

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

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24.11.2020

Exchange Rates

Date: November 24, 2020; Source: the Central Bank of Uzbekistan
1 US DOLLAR USD / UZS 10414.86
1 EURO EUR / UZS 12344.73
1 RUSSIAN ROUBLE RUB / UZS 136.69
1 GREAT BRITIAN POUND GBP / UZS  13833.02
1 KAZAKHSTAN TENGE KZT / UZS 24.35

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

1 US DOLLAR

USD / UZS

10414.86

1 EURO

EUR / UZS

12344.73

1 RUSSIAN ROUBLE

RUB / UZS

136.69

1 GREAT BRITIAN POUND

GBP / UZS

 13833.02

1 KAZAKHSTAN TENGE

KZT / UZS

24.35