City Tashkent Financial News

The Tashkent government wants miners to power their farms by installing their own solar panels.

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Uzbekistan & Turkmenistan express interest to join International North South Transport Corridor (INSTC) to trade with India as the viable route to the Indian Ocean Region ahead of the BRICS Summit in Kazan that would among other matters lay emphasis on inclusive connectivity corridors. Uzbekistan in particular is keen to harness the full potential of INSTC as well as the Chabahar Port in the backdrop of the Bilateral Investment Treaty (BIT) signed in Tashkent on Friday during the visit of Finance Minister Nirmala Sitharaman. Uzbekistan has sent its first cargo to India via INSTC recently. “The BIT between India and Uzbekistan assures appropriate protection to Uzbekistan investors in India and Indian investors in Uzbekistan, in light of relevant international precedents and practices. It will increase the comfort level and boost the confidence of investors by assuring a minimum standard of treatment and non-discrimination, while providing for an independent forum for dispute settlement through arbitration,” according to a statement issued by the Indian government.

Air transport is the only one direct option, but is useful only for expensive or perishable goods. The bulk of goods are delivered via Suez and Black Sea ports (Novorossiysk or others). As a result, the cargo travels triple the distance and several overloads along the route. High transport and logistics costs hinder the competitiveness of goods and the volume of mutual trade. Until now, the volume of mutual trade between India, Russia and Central Asia has been not so large (for example, $3.2 billion between India and five Central Asian countries in 2022). The obstacle is over huge delivery distances through the ports of the Black Sea or the Far East (7-10 thousand km).

Russia and Uzbekistan have signed an accord for Moscow to build a small nuclear power plant in the Central Asian country

Investment Forum (TIIF) last week witnessed huge interests from global investors including from the Gulf leading to signing of agreements worth $26.6 billion.

Uzbekistan’s capital is all set to host the third Tashkent International Investment Forum (TIIF-III) on May 2-3 that would boost foreign investments in the Heart of Central Asia. Tashkent expects Indian investors to be part of the Forum amid the growing ties. TIIF is one of the significant events not only for Uzbekistan but also for the region. Its program traditionally includes a plenary session at the head of state level, over 50 expert discussion meetings, including panel sessions, round tables, and B2B negotiations.

Uzbekistan sentenced 23 people to prison terms on Monday over the deaths of 68 children linked to contaminated cough syrups produced by India's Marion Biotech, following a six-month-long trial. The Central Asian nation had previously reported 65 deaths linked to the medicines, but last month the prosecutors at the Tashkent city court updated the death toll and said two more people had been charged during the hearings.

Jaishankar will meet Foreign Minister of Iran, HE Dr Hossein Amir-Abdollahian and hold discussions on bilateral, regional and global issues. "Political cooperation, connectivity initiatives and strong people-to-people ties will constitute important aspects of the agenda," the statement by the ministry added. Jaishankar and Amir-Abdollahian are also likely to discuss boosting regional connectivity through the Chabahar Port.

An economic grouping that includes several ex-Soviet nations along with Afghanistan, Iran, Pakistan and Turkey has held a summit in Uzbekistan, and leaders of member countries have vowed to further expand trade and economic ties

Kevin Spacey, aged 64, was taken to a medical facility in Uzbekistan after showing signs of a heart issue. On Monday, October 2, while visiting the Afrasiyab Museum, the former House of Cards actor experienced numbness in his left arm. He sought assistance at a clinic in Samarkand, where he underwent various tests, including an MRI scan, as reported by The Sun. Spacey was in town to participate in the 15th Tashkent International Film Festival. After receiving medical clearance, he appeared on stage later that day. During his appearance, he shared the incident with the audience and assured them that his health was «normal.» He also reflected on the fragility of life, saying, «I suddenly felt my entire left arm go numb for about eight seconds. I shook it off, but I immediately told the people I was with, and we went immediately to the medical center.» He added, «Everything turned out to be completely normal, and I'm grateful it's not anything more serious.» The day before, he had reportedly mentioned his plans for a «comeback» during an event in Tashkent's capital. Spacey expressed that he believed his «best roles were ahead of him.» The actor had faced significant setbacks in his career due to a sexual assault trial, during which he was acquitted of all nine charges.

Also Read: Gandhi Jayanti 2023 LIVE Updates: 'Mahatma Gandhi's impact is global,' says PM Modi Modi on Monday also paid floral tributes to Shastri at Vijay Ghat memorial early in the morning. Lok Sabha Speaker Om Birla and Vice President Jagdeep Dhankar joined in honouring the memory of former Prime Minister Lal Bahadur Shastri at Vijay Ghat on the occasion of his birth anniversary.

Pieter Elbers, CEO, IndiGo, tells ET Now about the airline's plans going forward. Edited excerpts:ET Now: Give us an idea of the airline's expansion strategy...Pieter Elbers: Over the past five-six weeks we have added new flights from Mumbai, we have started operations from Mumbai to Nairobi. We have started Mumbai to Jakarta and as recently as this weekend we have launched flights from Delhi to Tashkent and Almaty. So we have expanded from a little over 20 destinations to 32 now.

Indigo Airlines to Tashkent with effect from September 6. A senior DGCA official informed that IndiGo has been given approval to operate between Delhi and Tashkent four days a week, as reported by ANI.

Vivek Agnihotri and movie star Pallavi Joshi. «We are not Bollywood.

Uzbekistan – has been maintaining stable economic growth and the re-election of President Shavkat Mirziyoyev has provided tremendous opportunities for prospective Indian investors in the resource rich country. Several sectors in Uzbekistan are open to foreign investments and India is one of the sought after partners. Regular flights between Delhi and Tashkent could further contribute to growth momentum of the Uzbek economy.

IndiGo, India's leading airline on Wednesday is celebrating its 17th anniversary by announcing its three-day sale for all customers starting August 2, 2023 to August 4, 2023. The offers are a part of its anniversary celebrations ‘HappyIndiGoDay.' The airline is offering a 12 per cent discount on all tickets booked from its website and mobile app till August 3 while seven per cent discount will be given on August 4, said the company in its statement.

Uzbekistan marches towards a steady democracy, economic stability with President Shavkat Mirziyoyev

As Uzbekistan prepares to adopt a new cryptocurrency framework in 2023, the Uzbek regulators have started issuing regulatory approvals to local crypto service providers.