Tesla's market value surged to $1 trillion as Republican candidate Donald Trump's victory in the U.S. presidential election sparked a significant rise in the company's shares.
A meeting took place at the headquarters of “BMB HOLDING” with Gao Weixua, founder of China’s “VOSTOSUN GROUP UC” company. The focus of the meeting was the export of Uzbek saffron to the Chinese market.
Telegram Wallet to Open Official Office in Uzbekistan
Telegram Wallet is set to open its official office in Uzbekistan. This was revealed through a job posting for a regional office manager.
Anthony Tan was the youngest of 3 sons in one of the richest families in Malaysia. His father, Tan Heng Chew, was the president of Tan Chong Motor which was founded by Tan's grandfather in the 1950s, multinational automobile distributor publicly listed on the Kuala Lumpur Stock Exchange.
This amounts to approximately 17,000 employees. The news was shared by the company's new CEO, Kelly Ortberg, who stated that the cuts will affect executives, managers, and regular employees.
Google’s Potential Breakup Predicted in the U.S.
The U.S. Department of Justice is considering the possibility of breaking up Google, reports The Verge. Government lawyers have proposed measures to address Google’s market dominance and restore competition.
From September 25-27, the 29th KIOGE 2024 International Oil and Gas Exhibition brought together industry specialists in Almaty. The event attracted 340 companies from 20 countries, with 40% of participants showcasing their innovations for the first time.
It's no secret that in recent years, women have become more attentive to their health and appearance. This has naturally increased the demand for products in this area. However, most cosmetic products in the Uzbekistan market are imported.
Mercedes-Benz Stock Plummets Due to Poor Sales in China
Mercedes-Benz shares on the Frankfurt Stock Exchange have plunged by 8.4%, hitting their lowest level in four years, according to Bloomberg. The sharp drop is attributed to declining sales in the Chinese market.
On August 30, 2024, the President issued Decree No. UP-132, outlining measures to implement tasks identified in the fourth open dialogue with entrepreneurs. The decree aims to improve business conditions and address existing challenges in the entrepreneurial sector.
In the Sharof Rashidov district of Jizzakh, the opening of the “BMB Agro Plus” enterprise marks a significant milestone in Uzbekistan’s agricultural processing sector. The project focuses on processing the country’s fruits and vegetables using modern technologies and preparing them for export.
Zuckerberg Reveals U.S. Government Pressure on Meta
Mark Zuckerberg, head of Meta, has revealed that the U.S. government pressured the company to censor content related to COVID-19 during the pandemic. Zuckerberg expressed regret that Meta complied with these demands. During the pandemic, Facebook, owned by Meta, removed over 20 million pieces of content deemed to be misinformation.
Business
Pavel Durov Detained in Paris
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Open Dialogue with Entrepreneurs
Starting from February 1, 2024, Uzbekistan introduced a "Business Stability Rating" as per the presidential decree. This rating provides new opportunities for businesses and important tax incentives.
Meta has released its second-quarter report, which exceeded analysts' expectations, resulting in a more than 7% rise in the company's stock on the U.S. market.
Uzbek Producers to Receive $1 Million Grant for Collaborating with Global Brands
The President of Uzbekistan signed a decree on August 7, 2024, aimed at supporting local producers who collaborate with well-known international brands. This initiative is set to boost the presence of Uzbek companies in the global market.
As the national saffron cultivation develops in our country, the geography of its export is also expanding.
From January to June 2024, a total of 41,015 small business entities were established across the republic (excluding farmer and dehkan households).
Tesla's Profit Plunges to Five-Year Low
American automaker Tesla has reported its lowest profit in the past five years, causing its stock price to fall. For the second quarter, Tesla's net profit was $1.48 billion, half of what it was a year ago and the lowest in five years.
A business dialogue between the Uzbek delegation headed by Energy Minister Jurabek Mirzamakhmudov and a number of Austrian companies in the energy sector was held in Vienna to discuss prospects of cooperation, Uzbek Foreign Ministry's news agency Dunyo reported.
In the second half of June, the Chinese airline Loong Air plans to open a new air route from Xi'an to Samarkand, according to the press service of Uzbekistan Airports.
A business forum held in Tashkent within the framework of the Uzbekistan-Germany Businessmen's Council
Today, on June 5, a business forum was held in Tashkent as part of the next meeting of the Uzbekistan-Germany Businessmen's Council, reports the press secretary of the Prime Minister of the Republic of Uzbekistan.
Uzbek-Malaysian business forum and bilateral meetings in B2B and G2B formats have been held in Samarkand within the framework of the visit to Uzbekistan of the government delegation headed by Prime Minister of Malaysia Anwar Ibrahim. This was reported by the press service of the Chamber of Commerce and Industry of Uzbekistan.
President of the Republic of Uzbekistan Shavkat Mirziyoyev in his speech at the III Tashkent International Investment Forum emphasised the significant growth in the volume of foreign investments in the country last year, which almost doubled.
Top 10 largest companies providing the most jobs in Uzbekistan
According to data released by the press service of the Ministry of Employment and Poverty Reduction of Uzbekistan, as of 29 April 2024, the following companies have been identified as providing the most jobs in the country:
The South Korean giant Samsung became the world's largest smartphone supplier in the first quarter of 2024, according to data from research firm International Data Corporation (IDC).
During a meeting chaired by President Shavkat Mirziyoyev, issues related to the implementation of water-saving technologies were discussed. The head of state also expressed the intention to support enterprises contributing to the creation of thousands of jobs and the export of goods.
Russian B1 intends to enter the consulting market in Uzbekistan
Russian group of companies B1 intends to enter the market of consulting services in Uzbekistan. This is reported by the trade mission of Russia in Uzbekistan.
Before embarking on an IPO, a company will need to conduct a thorough analysis of its operations, including its management structure, financial health and growth prospects. In addition, the company will have to meet the strict requirements of the exchange on which it plans to launch the IPO.
According to estimates by MCA Advertising (owned by global agency Omnikom), the advertising services market in Uzbekistan in 2023 grew by 30% compared to 2022, and the total volume of the country's media market is rapidly approaching 500 billion sums of turnover per year. Against the backdrop of the country's economic reforms, the entry of global corporations into the Uzbek market, the growth of total budgets for marketing and advertising, the demand for expertise has increased significantly, and the rating of platforms for advertising communications has also grown.
Jeff Bezos overtakes Elon Musk as world's richest person
Tesla Inc.'s stock sank again on Monday, costing Elon Musk his title as world's richest person.
On February 25, a memorandum of cooperation will be signed between NUMA Diagnostics and the prestigious Turkish clinic Medipol.
According to the annual report of the international analytical agency Brand Finance, Mercedes-Benz is now considered the most expensive car brand in the world. It has overtaken electric car manufacturer Tesla.
The largest new building fair UYSOT EXPO 2024
On 2 and 3 March, Tashkent will host the largest real estate fair UYSOT EXPO 2024, which will bring together some of the most renowned developers and construction industry experts. Over the course of two days, visitors to the fair will have the opportunity to talk to more than 100 developers, as well as get answers to all pressing questions about real estate and buying a house from leading experts with many years of experience in working with real estate. Participants will be offered a large number of lucrative offers for investment and housing, meet many speakers of the property market of Uzbekistan and the CIS, and, what is no less important, the opportunity to win a trip for 2 to Dubai. UYSOT EXPO 2024 is a unique platform where you will be able to get acquainted with special offers from the best developers of Uzbekistan without wasting your time visiting sales departments.
In 2023, 56 foreign companies providing electronic services in Uzbekistan paid taxes worth about 70 billion sums. Meta, Google and Apple contributed 60 billion sums of this amount.
Gautam Adani, founder of conglomerate Adani Group, is once again among the world's richest people, ranking 12th with a fortune of $100.7bn.
Uzbek company signs $5m deal with McCormick Global Ingredients Ltd.
BMB Holding has become the first Uzbek company to sign an agreement with the 130-year-old US company.
The cost of the project is $380 million and construction work is scheduled to begin in the second half of this year.
On 23 January this year, BMB Holding management met with Ziya Gaziev, President of Proto Global GmbH, in Berlin.
Entrepreneurial sustainability rating to be introduced
From 1 February 2024, the Entrepreneur Sustainability Rating will be introduced, which will identify and incentivise entrepreneurs who comply with legal requirements.
Tesla is suspending car production at its plant near Berlin due to component shortages caused by changes to transport routes as a result of attacks on ships in the Red Sea.
Apple's market value has fallen below Microsoft's capitalisation for the first time since 2021.
Google and Amazon are making staff cuts
Google attributed its decision to its desire to reduce costs, improve efficiency and focus on core products.
Most Russian billionaires continued to get richer despite the Western sanctions. Their total fortune totalled $328.53 billion.
In 2023, AhadMix Group participated in nearly 1,000 events as a technical partner and invested around $2 million in its development.
Alisher Usmanov's fortune exceeds $20bn
The owner of a billion-dollar fortune has significantly increased his income.
From 1 December this year, Yandex Go service will be provided by legal entity YandexGo UB LLC, a tax resident of Uzbekistan. This was reported by the press service of the Tax Committee.
UzAuto Motors' revenues increased by 43.5 per cent to 38.1 trillion sums in the first nine months of 2023. The report was published on the Unified Corporate Information Portal of the company.
Bloomberg: Ilon Musk lost more than $16bn overnight
His financial condition has shrunk amid Tesla's poor results in the third quarter.
President of Uzbekistan met with chairman of Amer International, a leading Chinese company, in Beijing.
The company announced a complete cessation of operations in the country.
Amazon is accused of monopoly
17 US states sued Amazon over monopoly.
Tatyana Bakalchuk for the second time in a row topped the Forbes "Richest Women in Russia" rating. Her fortune is estimated at $ 7 billion. The rating also includes Tatyana Litvinenko and other successful women entrepreneurs in the country.
The conflict between the US and China is pushing corporations, including Apple, to diversify production, threatening to increase the cost of technology.
Today President Shavkat Mirziyoyev will hold an open dialogue with entrepreneurs
It is expected that the president will put forward important initiatives to expand entrepreneurial activity and create more favorable conditions for the implementation of new projects, and eliminate problems that hinder the development of entrepreneurship.
Tesla has built its first Cybertruck after 2 years of delays. In May, Elon Musk said Tesla would like to produce a quarter of a million Cybertrucks a year, depending on demand.
Oksana Gorshkova has been appointed head of USM Group, which manages the assets of billionaire Alisher Usmanov. Previously, the CEO was Yerkozha Akylbek, who replaced Ivan Streshinsky in this post in April 2022.
Raiffeisenbank postpones exit from Russia. It hopes the war will end sooner-Reuters
Raiffeisen Bank International is trying to find a way to stay in Russia so as not to risk longstanding Austrian-Russian relations. Austria hopes the war will end sooner, Reuters reports.
Abdurashid Iminov continues his fascinating journey into the world of restaurant business, bringing his Uzbek taste and hospitality to the very center of New York.
Ukrainian taxi service Uklon has been launched in Uzbekistan. The service is available in the city of Tashkent. Uklon will also provide delivery service.
Several Russian restaurants are planned to open in Uzbekistan
Several Russian restaurant chains are planning to open establishments in the CIS countries, including Uzbekistan. Among them are "Шоколадница", "Мясо и рыба", "Якитория" and others.