Uzbekistan's stock market sees its first big "pump & dump" incident

Ben Aris in Berlin April 19, 2021

The share price of Uzbek insurance company Universal Sugurta rose 200,000% in the first two months of this year, only to collapse again in March. It looks like a classic "pump and dump" play, but for the nascent market that's probably a good thing.

COMMENT: Strengthening the foundation of the Uzbek capital markets infrastructure

Fiezullah Saidov in Tashkent April 18, 2021

After their sitting moribund for two and half decades, Uzbek President Shavkat Mirziyoyev has just launched a major reform of the Uzbek capital markets that could transform financing in the republic.

Starbucks to open first Uzbekistan outlet as country’s “virgin” niche lures new players

Alisher Kalandarov in Tashkent April 6, 2021

Coffee chain to join KFC, Wendy’s and Baskin Robbins among big Western names on Tashkent city streets. Russia’s Shokoladnitsa and Black Star Burger have also arrived.

CEE reels as third wave of COVID-19 breaks

bne IntelliNews April 3, 2021

A third wave of the coronavirus pandemic is sweeping through Emerging Europe. While Russia is expecting to reach herd immunity in the next two months, most other countries of the region have only just started their mass immunisation programmes.

IKEA’s New Europe Empire

bne IntelliNews April 3, 2021

Getting an IKEA store is a good guide to how developed a country is. And the Swedish furniture store has an uncanny knack for opening their yellow and blue stores exactly at the beginning of a country's rapid growth phase.

UK registered shell company faked documents to win Uzbekistan medical kit contracts says World Bank

bne IntelIiNews March 30, 2021

Case of NovoLine Resources tarnishes already controversial reputation of British corporate governance.

Uzbekistan police blame victim in violent attack on pro-LGBT activist

Eurasianet March 30, 2021

Miraziz Bazarov had criticized the government’s refusal to decriminalize same-sex relations.

Impact of global chip shortage on carmakers spreading across Eastern Europe, Turkey and Central Asia

bne IntelIiNews March 26, 2021

Production plants forced into stoppages after pandemic-led surge in demand for electronics from locked down populations squeezes semiconductor supplies.

Conference addresses reform and regulation issues facing Tashkent Stock Market

Alisher Kalandarov in Tashkent March 23, 2021

Still very early days for Uzbekistan’s bourse. Investors need “fast, transparent and reliable data,” says US SEC commissioner.

COMMENT: Media freedom hits a rough patch in Uzbekistan despite presidential support

Fred Harrison in London March 23, 2021

The number of media outlets has expanded after President Shavkat Mirziyoyev called for the press to play a more prominent role in society, but old habits die hard after a prominent blogger was arrested after he exposed a price-fixing scam.

BORDERLEX: EU edging closer to granting Uzbekistan GSP Plus trade status

Iana Dreyer of Borderlex March 19, 2021

The EU says there are few hurdles left to clear but human rights groups say Uzbekistan will need much closer monitoring.

Rising inflation in Emerging Europe poses dilemma for central banks

bne IntelliNews March 17, 2021

With economies primed to rebound as pandemic restrictions are loosened, consumer prices could rise even further, reawakening an issue that has long been ignored.

Screw comes loose on governor’s claim IKEA’s coming to Uzbekistan

Alisher Kalandarov in Tashkent March 17, 2021

Tashkent regional chief’s investment presentation to president turns out to be a rather dodgy construction.

Uzbeks debate whether rising debt is a trap or a stairway to a better future

Alisher Kalandarov in Tashkent March 10, 2021

Uzbekistan’s external debt was 16% of GDP in 2015. By the end of 2020, it was 36.5%, with the government pointing to social demands that need addressing urgently.

ANALYSIS: Central Asia bond review

Maximilian Hess in London for EurasiaNet March 9, 2021

Despite the COVID crunch, Uzbekistan’s borrowing has blossomed. Tajikistan appears headed for trouble.

The female voice of change

Clare Nuttall in Glasgow March 8, 2021

Emerging Europe has a growing number of female politicians taking a stand against corruption and authoritarianism.

COMMENT: Uzbek privatisation - this time it seems to be for real

Fiezullah Saidov director of Uzbekistan Equities in Tashkent March 7, 2021

Privatisation efforts in Uzbekistan are moving to a practical level. The newly appointed State Asset Management Agency head has started to implement the presidential decree on privatisation with a new zeal.

Uzbekstan's Fergana region to spend $8.5mn setting up electric scooter production

Alisher Kalandarov in Tashkent March 5, 2021

Three companies say they plan to set up production of electric scooters at the Kokand free economic zone.

Emerging Europe strong on women’s economic opportunities but dragged down by low pensions

Clare Nuttall in Glasgow February 24, 2021

Different retirement ages for men and women lead to lower pensions for women despite reforms in 2019-2020, says World Bank report.

Lukoil ‘demonstrates worth to Uzbekistan as it takes on hard to recover gas challenge’

Alisher Kalandarov in Tashkent February 23, 2021

Russian giant, now sixth largest taxpayer in Central Asian country, has stepped up its cooperation with Tashkent.