Author: Rustam Dehoanov

Soon, all companies, regardless of their business area, will have to engage with fintech. Back in 2020, this was the forecast presented by analysts at the Andreessen Horowitz venture capital fund. For instance, taxi and delivery aggregators are creating their own payment services, financial transfer systems are being integrated into messengers, giants such as Apple are launching their own bank cards, and retail chains are connecting cashback programmes and microloans. The analysts’ predictions are coming true. This has become possible thanks to the democratization of banking services. Outdated, cumbersome legacy structures are becoming more mobile and flexible. And banking is becoming a…

 Investments worth $12 billion through mutually beneficial projects between Uzbekistan and Saudi Arabia will give a new impetus to the growth of the Central Asian country’s energy, IT and agriculture sectors. Saudi Investment Minister Khalid Al-Falih led a high-profile delegation to Uzbekistan on Monday, according to Uzbekistan’s news agency known as Uza. Uzbekistan President Shavkat Mirziyoyev welcomed the visit of the Saudi delegation, which culminated in the signing of agreements for mutually beneficial projects in energy, and agriculture, as well as pharmaceuticals, IT, and infrastructure development. The president emphasized the dynamic progress between nations, citing the increasing trade turnover, growing…

Concerns about slow progress on political and economic reforms appear to have done little to dampen the atmosphere during talks this week between a U.S. delegation and government officials in Kazakhstan and Uzbekistan. “The United States reaffirmed its unwavering support for Uzbekistan’s independence, sovereignty, and territorial integrity,” said a U.S. State Department statement on the November 6-7 talks, which were led on the American side by Donald Lu, the assistant secretary for South and Central Asian Affairs. The discussions in both Astana and Tashkent focused on political, economic, security, human rights, and cultural dimensions, the department said. It quoted Lu…

President of Uzbekistan Shavkat Mirziyoyev and President of Italy Sergio Mattarella have signed quite a lot of paperwork following the assembly in Tashkent, Trend studies. As a results of the talks, the events have adopted a joint assertion geared toward additional growth of strategic partnership and multifaceted cooperation between the 2 international locations. Moreover, agreements on cooperation within the spheres of training, science, and know-how, in addition to innovation, and sports activities had been additionally signed. Meanwhile, the commerce quantity between Italy and Uzbekistan stood at $157.5 million through the first 4 months of 2023. Additionally, in 2022, the whole…

The 16th Summit of the Economic Cooperation Organization (ECO) was held in the Uzbek capital Tashkent on Thursday, during which President of Uzbekistan Shavkat Mirziyoyev noted the great potential in expanding economic ties between ECO countries. According to the press service of the president of Uzbekistan, the purpose of this summit is to discuss the prospects for multifaceted cooperation within the ECO and bring it to a new level. Mirziyoyev said in his speech that the ECO has great potential in expanding ties in trade, economic and industrial fields, and also in investment, innovation and transport. During the summit, the…

Strong economic growth Following a strong economic growth performance of 5.7% in 2022, real GDP growth is expected to remain robust this year (above 5%), despite the electricity and heating disruptions witnessed during the extremely cold winter. While the current account balance improved in 2022, boosted notably by a surge in remittances and inflows from Russian migrants and the relocation of Russian companies, the current account deficit is widening again (see graph), in particular because of a decrease in remittances and a rise in trade deficit. Along with the deterioration of the current account balance, the foreign exchange reserves have…

Uzum Group is actively engaged in propelling Uzbekistan’s digital transformation. The company is focused on expanding its presence in key sectors such as e-commerce, digital banking, and FinTech services. Additionally, Uzum Group is committed to bolstering its logistics infrastructure. The intended investment will serve as a vital stepping stone in Uzum’s journey, consolidating its position as the nation’s digital champion. These funds will facilitate the acceleration of Uzum Group’s e-commerce, digital banking, and fintech services. Moreover, the investment aims to enhance the company’s logistics infrastructure. Uzum aspires to establish a comprehensive national digital platform catering to millions of Uzbekistan residents.…

Exports Minister Lord Offord is in Uzbekistan to expand on UK-Uzbek relations and find untapped business opportunities. Exports Minister Lord Offord is in Uzbekistan to expand on UK-Uzbek relations and find untapped business opportunities. With the wider Central Asian region expected to grow by 5.4 per cent in 2024, Uzbekistan offers clear and tangible opportunities for UK businesses. During a three-day mission to Uzbekistan, the Minister will meet government counterparts and business leaders and focus on infrastructure and mining opportunities for UK exports to boost our trade relationship. Lord Offord will also visit Almalyk Mine and gold processing facility to…

The popularity of Islamic leaders in Uzbekistan is growing. With the rise of the internet and relative freedom of speech, imams and preachers are regaining influence they had lost – first to Soviet atheism and later, to former President Islam Karimov’s hard line against Islam. These religious leaders have established a presence on various online platforms and social media, amassing millions of followers. Some are even engaging in political discourse, crossing a line that was once strictly forbidden. At first glance, Tashkent’s new approach toward religious freedom may seem irrational from the perspective of regime stability. Allowing Islamic leaders to…

TEMPO.CO, Mumbai, India – The fastest-growing food commodity, vegetable oils, plays a fundamental role in supporting humanity’s needs, both for consumption and various applications. However, it is now facing the challenge of meeting demand that increasingly outruns the supply. Swift and decisive action is required from vegetable oil-producing countries to address immediate challenges and enhance future resilience in providing sustainable vegetable oils. To facilitate this action, the Council of Palm Oil Producing Countries (CPOPC) and Indonesian Palm Oil Association (GAPKI) will co-host the 2nd Sustainable Vegetable Oils Conference (2nd SVOC), aligning with the G20 meetings and back-to-back with the Globoil India 2023. After its…