| Business
Business

U.S. President Donald Trump met with executives of leading artificial intelligence companies at the White House on September 29. The meeting ended with the signing of a voluntary AI safety accord, which Trump described as having “moral” force rather than legal enforceability.

Business

Siberian Wellness marked the 30th anniversary of its international business with a series of events in St. Petersburg from September 17 to 19, 2026. According to the company, the “30 Years of the Real” anniversary brought together more than 9,000 Business Partners and brand representatives from more than 20 countries, as well as experts, honored guests and media representatives.

Azerbaijan and Kazakhstan to Launch Trans-Caspian Fiber-Optic Line by End-2026

Azerbaijan and Kazakhstan to Launch Trans-Caspian Fiber-Optic Line by End-2026
Business

The Trans-Caspian fiber-optic communications line linking Azerbaijan and Kazakhstan will be commissioned by the end of 2026. Azerbaijani President Ilham Aliyev made the announcement at the Second Azerbaijan International Investment Forum in Baku. The project involves laying a cable along the seabed of the Caspian Sea.

Business

Uzbekistan is hosting two major international events in civil aviation and air navigation for the first time. The 3rd annual SOCEA General Meeting was held on September 8, while the CANSO Eurasia ANSP’s Summit opened in Tashkent on September 9.

Business

Volkswagen plans to cut around 100,000 jobs worldwide by the end of the decade, equivalent to roughly 15% of its global workforce. Management and unions have agreed to eliminate another 50,000 positions, on top of the same number already agreed earlier.

Bank of Georgia Owner Eyes Uzbekistan’s Largest Banks

Bank of Georgia Owner Eyes Uzbekistan’s Largest Banks
Business

Lion Finance Group, the owner of Bank of Georgia, is considering entering Uzbekistan’s banking market through the acquisition of a major local lender. The group is primarily targeting banks ranked among the top three or top five in their respective markets and has ruled out pursuing smaller institutions.

Business

BMB HOLDING has opened a new multifunctional complex, BMB BUSINESS MARKAZ, in Jizzakh, bringing together retail, food service, commercial facilities and future education projects. The total investment amounted to UZS 27.5 billion, with the project financed entirely from the holding's own funds.

Business

Uzbekistan is introducing a three-year moratorium on inspections of small businesses, with limited exceptions explicitly provided for by law. The measure was established by a presidential decree signed on August 27, 2026, following the President’s sixth open dialogue with entrepreneurs.

Fonon Put Up for Privatization at a Starting Price of UZS 316.7 Billion

Fonon Put Up for Privatization at a Starting Price of UZS 316.7 Billion
Business

The Uzbek government has put its 100% stake in Gold Moon Tashkent, the owner of the Fonon jewelry plant in Tashkent, up for open auction. The starting price has been set at UZS 316.67 billion, with the auction scheduled for September 28.

Business

Uzbekistan-based private logistics group Centrum Holding plans to launch an initial public offering in the first quarter of 2027. The company also aims to raise exports to $1 billion by the end of 2026 while continuing a major expansion of its aircraft fleet.

Business

The Belarusian Universal Commodity Exchange (BUCE) and the Uzbek Republican Commodity Exchange (UzRTSB) have signed a cooperation agreement aimed at expanding the participation of companies from both countries in electronic trading. The agreement provides for mutual access to the two countries’ commodity markets, simplified procurement procedures, analytical data exchange and joint projects.

Acwa Brings South Korean Partner Into Uzbekistan’s Renewable Energy Development

Acwa Brings South Korean Partner Into Uzbekistan’s Renewable Energy Development
Business

Saudi energy company Acwa and South Korea’s Korea Western Power Co., Ltd. (KOWEPO) have signed a memorandum of understanding to explore joint opportunities in Uzbekistan’s renewable energy sector. The MoU was signed in Tashkent on August 25.

Business

Talks between BMB HOLDING and India’s Bhavesh Trading Company have moved from business dialogue toward a specific export opportunity. The companies are exploring large-scale supplies of garlic grown and processed by BMB HOLDING to the Indian market.

Business

Uzbekistan’s President Shavkat Mirziyoyev has announced a new package of measures to support entrepreneurship, including expanded lending, the introduction of artificial intelligence tools and easier access to state assets and land. The initiatives were presented during an open dialogue with entrepreneurs.

Asia Pharm Group and Orzax Discuss New Manufacturing Complex in Uzbekistan

Asia Pharm Group and Orzax Discuss New Manufacturing Complex in Uzbekistan
Business

Uzbek pharmaceutical company Asia Pharm Group is in talks with Turkish pharmaceutical company Orzax on a new investment project in Uzbekistan. The initiative envisages the development of a modern manufacturing complex on a 3-hectare site.

Business

Centrum Air expands its network and announces the launch of regular passenger service on three new destinations — Ekaterinburg, Perm and Ufa. These routes will allow passengers from Uzbekistan to reach quickly and comfortably the industrial and cultural centers of the Urals and Volga region.

Business

Uzmetkombinat JSC plans to continue cooperation with Toshiba and Sieyuan Electric on the modernization of its energy infrastructure. During a working visit to China, a delegation from the company visited Changzhou Sieyuan Toshiba Transformer Co., Ltd., a joint venture between the two companies.

Elon Musk to Invest $16.8 Billion in Terafab AI Chip Plant for Tesla and SpaceX

Elon Musk to Invest $16.8 Billion in Terafab AI Chip Plant for Tesla and SpaceX
Business

SpaceX and Tesla will initially invest $16.8 billion to build Terafab, a major semiconductor manufacturing complex in Texas. If the project is fully developed, total investment could reach $119 billion.

Business

More than 100 representatives of Kazakhstan's private sector took part in the Uzbekistan–Kazakhstan Business Forum held in Tashkent. The event served as a platform to discuss new investment projects, strengthen industrial cooperation, and deepen direct business ties between the two countries.

Business

The Uzbekistan–Bashkortostan Business Forum in Ufa concluded with the signing of new cooperation agreements and commitments to implement joint projects. The event brought together more than 100 Uzbek companies representing the industrial, construction, healthcare, and IT sectors.

BMB HOLDING and AI Automotiv Central Asia Discuss New Automotive Projects

BMB HOLDING and AI Automotiv Central Asia Discuss New Automotive Projects
Business

Representatives of BMB HOLDING held talks with Chen Jie, Chief Executive Officer of AI Automotiv Central Asia Trading Corporation, to explore cooperation in the automotive industry, transport, logistics, investment, tourism and consulting. The discussions were held within the framework of the strategic partnership between the Republic of Uzbekistan and the People's Republic of China.

Business

BMB HOLDING continues to strengthen its international partnerships by expanding cooperation with one of China's largest state-owned corporations. During a recent meeting, the parties discussed joint investment opportunities, industrial cooperation, and the promotion of Uzbek products in foreign markets.

Business

BMB HOLDING continues to expand its international partnerships by strengthening cooperation with Japanese counterparts. The discussions focused on joint investment projects, export expansion, and promoting Uzbek products in the Japanese market.

Uzbekistan and Iraq Establish Business Council Targeting $500M

Uzbekistan and Iraq Establish Business Council Targeting $500M
Business

The expansion of domestic private capital into the high-capacity markets of the Middle East is becoming deeply systematic due to the establishment of resilient interagency platforms designed to minimize logistical barriers and stimulate direct B2B contacts. On the sidelines of the Tashkent International Investment Forum (TMIF-2026), a strategic memorandum was signed between the Chamber of Commerce and Industry of Uzbekistan and the Economic Council of Iraq, anchoring the official establishment of a joint Business Council.

Business

On June 15, 2026, a meeting took place between the Deputy General Director of BMB HOLDING, Khayrulla Nabijonov, and Pavlo Stergard, Head of the MENA region, Turkey, and Central Asia at the French state investment bank Bpifrance, along with his advisor, Amandine Sainte Luce. During the negotiations, the foreign delegation was presented with extensive information regarding the holding's pivotal projects in export, construction, investment, and agro-industry, as well as strategic measures aimed at diversifying international cooperation.

Business

The Central Asian region is emerging as a new gravitational hub for the world’s leading tech giants, which are increasingly prepared to invest heavily in local digital infrastructure.

Absolute Wall Street Record: Elon Musk Officially Declared First Trillionaire in History

Absolute Wall Street Record: Elon Musk Officially Declared First Trillionaire in History
Business

The global financial system has recorded an unprecedented historical milestone: the planet has seen its first-ever dollar trillionaire, whose aggregate wealth has surpassed a previously unimaginable threshold. American entrepreneur Elon Musk has officially secured this status driven by the massive initial public offering (IPO) of his aerospace corporation, SpaceX. According to joint calculations by Forbes and Reuters based on internal company filings, the businessman's personal net worth will top $1,1 trillion the exact moment trading commences on Friday, June 12, on the Nasdaq exchange.

Business

Uzbekistan is scaling its industrial presence in the region, elevating the promotion of domestic brands to a new international level. In Bishkek, the grand opening ceremony of the extensive national stand "Made in Uzbekistan" took place on the sidelines of the prestigious SCO exhibition. Bringing together the core drivers of the Uzbek economy—ranging from heavy manufacturing to cutting-edge digital solutions—this high-tech exposition captured the direct attention of heads of line ministries and major business figures from the participating states.

Business

One of the most high-profile and tech-driven privatization deals in Uzbekistan has been finalized. Mobile operator Mobiuz (Universal Mobile Systems LLC) is transitioning fully into private ownership. More than 15 international players ranging from the US to Japan competed for the right to acquire the 100% state-owned stake. A consortium of institutional investors from the United States emerged as the winner of this prestigious tender. The multi-million-dollar transaction not only establishes a new benchmark for the domestic telecom market but also guarantees a massive digital overhaul of networks across the republic.

FONON | Cannes, France

FONON | Cannes, France
Business

At the Cannes Film Festival held in France, the FONON jewelry house received an international nomination and presented its products on the international stage. FONON thus became one of the first national jewelry brands from Uzbekistan to take a step onto the global stage.

Business

Major German automakers are sequentially declaring their readiness to repurpose production capacities for military needs. Amid escalating geopolitical instability and Berlin's calls for Europe to assume greater responsibility for continental security, even a premium giant like Mercedes-Benz has officially opened the door to manufacturing military hardware.

Business

The mutual interest of businesses from both countries has expanded far beyond traditional trade. High technologies, halal tourism, the agricultural sector, and Islamic finance have emerged at the crossroads of shared interests. The talks between BMB HOLDING and the Malaysian Ambassador open new vistas for Uzbek exports and the transfer of advanced Asian technologies.

Outcomes of the Uzbekistan-Mongolia Business Forum

Outcomes of the Uzbekistan-Mongolia Business Forum
Business

The recent business forum in the capital has laid the groundwork for ambitious projects ranging from cashmere processing to livestock expansion. With surging trade figures and the launch of new logistics routes, the partnership between the two nations promises to be a key driver of economic revitalization across Central and East Asia.

Business

Jakhongir Artykhodjayev has officially initiated a major investment project in the US state of Kentucky. The total value of the initiative is estimated at $600 million. The new industrial complex is planned to host production across four key sectors: automobile assembly, solar panel manufacturing, window spare parts, and aluminum products.

Business

The participation of the Uzbek delegation in the prestigious SelectUSA Investment Summit, held in Washington from May 3 to 6, was marked by a series of strategic victories for domestic business. BMB HOLDING stood at the center of the events: from presenting a unique national brand to the U.S. Secretary of Commerce to concluding partnership agreements with major financial institutions and a range of cities in California. This visit served as a clear signal of Uzbek manufacturers' readiness to compete at the highest international level, offering eco-friendly and certified products to the U.S. market.

Japan Invests in Training Uzbek Animators

Japan Invests in Training Uzbek Animators
Business

Uzbekistan's creative industry is reaching a new level thanks to a partnership with the trendsetters of the animation world. The Ministry of Digital Technologies and the Japanese company ELF-IN Co., Ltd are launching a large-scale educational project. With the infusion of substantial grants and the involvement of foreign masters, the country will begin training specialists capable of creating world-class graphics.

Business

Forbes released its annual ranking of the world’s wealthiest individuals. Leading the list is Elon Musk, whose fortune reached a record $839 billion. Google founders Larry Page and Sergey Brin hold second and third places. The top 20 includes entrepreneurs from the US, China, India, and Europe, with total billionaire wealth reaching $20.1 trillion.

Business

A Russian court has fined Google an astronomical amount — $1.4 quintillion. This exceeds the entire global GDP and is worth more than all the money in the world.

Meta to Invest Up to $27B in Nebius Infrastructure

Meta to Invest Up to $27B in Nebius Infrastructure
Business

Meta and Arkady Volozh’s Nebius have agreed on joint investments of up to $27 billion over five years to develop AI data center infrastructure.

Business

The 41st General Assembly of the Islamic Chamber of Commerce and Development (ICCD) was held in Mecca, Saudi Arabia. A delegation from the Chamber of Commerce and Industry of Uzbekistan, led by First Deputy Chairman Davronbek Kurbanov, took part in the meeting.

Business

Elon Musk’s AI startup xAI has lost two co-founders in just two days, adding to a broader wave of departures as the company moves toward a major merger with SpaceX and faces regulatory scrutiny.

Telegram Fined Another 7 Million Rubles in Moscow

Telegram Fined Another 7 Million Rubles in Moscow
Business

The Tagansky Court of Moscow has imposed an administrative fine of 7 million rubles on the Telegram messenger for failing to remove content containing calls for extremist activity.

Business

Apple reported record revenue and profit for Q1 of fiscal 2026, which ended December 27, 2025, surpassing analysts’ expectations. Quarterly revenue rose 16% to a record $143.76 billion, with net income up nearly 16% to $42.1 billion. Adjusted earnings per share reached $2.84, exceeding analysts’ estimates of $138.48 billion and $2.67 per share.

Business

Elon Musk is in talks to merge SpaceX with his artificial intelligence startup xAI ahead of the space company’s planned initial public offering in 2026, according to Reuters. If completed, the deal would bring rockets, the Starlink satellite network, social platform X and the Grok AI chatbot under one corporate umbrella.

Trump’s Venezuelan Oil Plan Meets Industry Doubt

Trump’s Venezuelan Oil Plan Meets Industry Doubt
Business

US President Donald Trump has urged major oil companies to invest at least $100 billion in Venezuela’s oil sector, but industry leaders have reacted with caution.

Business

As part of the business program of his official visit to Japan, President of the Republic of Uzbekistan Shavkat Mirziyoyev held a meeting with the heads of leading companies, financial institutions, and business associations of the country.

Business

Uzbekistan has taken one of its most significant deregulation steps by abolishing more than 1,600 mandatory requirements, easing conditions for businesses and individual entrepreneurs.

Warner Bros. Says No to Paramount’s $108B Offer

Warner Bros. Says No to Paramount’s $108B Offer
Business

Warner Bros. Discovery has rejected a $108 billion takeover bid from Paramount, opting instead to pursue a deal with Netflix that it considers more attractive and secure for shareholders.

Business

Elon Musk, the founder of SpaceX and Tesla, has become the first person in history to surpass a net worth of $600 billion, according to Forbes. The milestone follows a sharp increase in SpaceX’s valuation ahead of its planned IPO.

Business

President Shavkat Mirziyoyev has signed a decree introducing new mechanisms of tax regulation that will come into force on 1 January 2026. The reforms aim to increase transparency in business operations and strengthen tax compliance across the corporate sector.

SpaceX Nears Record as Musk Targets $800B Valuation

SpaceX Nears Record as Musk Targets $800B Valuation
Business

SpaceX is in discussions with investors about a share sale that could value Elon Musk’s company at an unprecedented $800 billion — doubling its current estimated worth of $400 billion. If successful, the deal would once again make SpaceX the most valuable private company in the United States.

Business

Sustainable Fitch has assigned SOCAR its first ESG rating, giving the company an overall score of 3 and highlighting the maturity of its environmental, social and governance practices.

Business

On February 11–12, 2026, Tashkent will host the fourth international Move Real Estate Summit — a key platform for discussing Uzbekistan’s growing real estate market, investment climate, and global architectural trends.

Project Prometheus: Jeff Bezos’s Secret AI Leap

Project Prometheus: Jeff Bezos’s Secret AI Leap
Business

Jeff Bezos, the founder of Amazon, has launched a major artificial intelligence startup called Project Prometheus, The New York Times reports. This marks his first return to an executive leadership role since stepping down as Amazon’s CEO in 2021.

Business

Apple CEO Tim Cook may step down after more than a decade leading the company, Bloomberg reported, citing journalist Mark Gurman.

Business

OpenAI has become the world's most expensive private company. Its value is now estimated at $500 billion - more than Elon Musk's SpaceX and China's ByteDance.

Elon Musk Becomes First Person in History Worth $500 Billion

Elon Musk Becomes First Person in History Worth $500 Billion
Business

Elon Musk has set another record: for the first time in history, a person’s wealth has reached the $500 billion mark, according to Forbes Real-Time Billionaires.

Business

TBC Bank Group has announced the acquisition of a controlling stake in OLX Uzbekistan, the country’s leading online classifieds platform. The deal, one of the largest M&A transactions in Uzbekistan in recent decades, marks a major step in expanding TBC’s digital ecosystem.

Business

Over the past year, the number of companies with Chinese capital in Uzbekistan has increased by 1.5 times, with 58 more added in July — a record growth despite an overall decline in foreign investor activity. The United States entered the top 10 for the first time in a year.

Özwell is attracting $9.5 million from China for pharmaceutical breakthrough

Özwell is attracting $9.5 million from China for pharmaceutical breakthrough
Business

On August 8 in Shanghai, during the Uzbekistan–China Business Forum, Özwell signed a strategic cooperation memorandum with one of China’s largest pharmaceutical holdings — Zhendong Health Industry Group.