Central Bank of Uzbekistan will introduce new 50,000 soum banknotes into circulation starting on August 22, says a message on the bank’s website. “Along with the banknotes and coins now in circulation, the issued 50,000 soum banknotes must be accepted at nominal value, in cash payments by all economic entities and population without any restrictions,”…
Uzbekistan’s foreign trade turnover rose by 11.1%, to $12.072 billion in January-June, compared with the same period of 2016, the State Statistics Committee of the Republic of Uzbekistan reported. Uzbekistan has increased export operations by 13.1%, to $5.97 billion, imports – by 9.2%, to $6.102 billion. Foreign trade turnover with the CIS countries improved by…
Samarkand International Airport (SIA) has resumed its work. SIA has been opened for international and domestic flights since August 1, right after the completion of the renovations related to its runway sections, according to the information published on the website of the National Air Company Uzbekistan Airways (Uzbekiston Havo Yullari). SIA has been closed for…
Traditional Uzbek goods, including fresh and processed products of agricultural and food industry are set to be exported under a single brand UzAgro, according to the management of the holding company “Uzbekoziqovqatholding”. According to company representatives, the new brand will serve as a guarantee of high quality of products and services for partners in any…
S&P Global Ratings affirmed its “B-/B” long- and short-term counterparty credit ratings on Turon Bank, the rating agency said in a message. The outlook remains stable. The affirmation follows Turon Bank’s removal in June by the Uzbek government from a list of entities to be privatized. As such, S&P thinks that strategic uncertainty related to…
S&P Global Ratings affirmed its “B+/B” long- and short-term counterparty credit ratings on Ipoteka Bank JSCM. The outlook is stable. The affirmation reflects S&P’s view that over the past two months Ipoteka Bank’s capitalization has significantly improved on the back of support received from the government of about Uzbekistani sum (UZS) 380.8 billion (about $95…
President Shavkat Mirziyoev signed a Decree “On measures for radical improvement of tax administration, increase tax collection and other obligatory payments”. The decree notes that the country has formed a tax system that provides for a consistent reduction of the tax burden and creates a favorable climate for business development and attracting foreign investment. However,…