Economy
US oil firms made $130bn in profit during the Iran war as household bills surged
According to Al Jazeera, US oil and gas firms earned more than $130bn in profit from April to September; Americans spent an extra $150bn on fuel, over $1,150 per household.
How the World Trade Organization (WTO) Works and Uzbekistan's Membership: An Explainer
The WTO is the international body that sets the rules of world trade, built on tariff reduction and non-discrimination. Here is how it was created, how it is structured, how it settles disputes, and where Uzbekistan's accession bid — ongoing since 1994 — now stands.
Ziroat Mirziyoyeva proposes girls' education initiatives at OTS Family and Women Council
The Organization of Turkic States' Council on Family and Women met for the first time in Ankara; Uzbekistan's First Lady proposed initiatives on girls' education, women's entrepreneurship and family support.
Uzbekistan issues its first Islamic banking licence: Open Bank and a $1bn plan
On October 23 the Central Bank granted Open Bank the country's first Islamic banking licence. Here is the legal basis, the permitted Shariah-compliant services and the state's 2026–2030 attraction plan — verified facts only.
How Sukuk (Islamic Bonds) Work: An Explainer
Sukuk are an Islamic finance instrument built on ownership of a real asset and profit-sharing instead of interest (riba). Here is how they differ from ordinary bonds, their main structures, and why they matter for Uzbekistan.
Israel's election ends without a majority; Germany reacts cautiously
In the October 27 Knesset election no bloc reached 61 seats; Netanyahu's bloc took 53 and the opposition 48. Germany is withholding judgment until a coalition is clear.
Uzbekistan's poverty rate fell from 5.8% to 3.6% in nine months — Employment Ministry
According to the Ministry of Employment and Poverty Reduction's nine-month 2026 results, the poverty rate fell from 5.8% to 3.6% and 824,000 people were placed in permanent jobs.
Call of Duty: Modern Warfare 4 used real Itaewon disaster footage — families and gamers' association demand its removal
The opening cinematic of Activision's game used real news footage from the 2022 Itaewon crowd crush, in which 159 people died. Bereaved families demand a formal apology and that the clip be replaced.
Uzbekistan's membership in the international financial institutions (1992–1995): IMF, World Bank, EBRD and the Asian Development Bank
In its first years of independence, Uzbekistan joined the global financial system: the exact accession dates to the International Monetary Fund, the World Bank Group, the European Bank for Reconstruction and Development and the Asian Development Bank, and their significance for economic integration.
How Life Insurance Works in the USA: A Guide for Immigrants
Life insurance is a contract with an insurer that pays a named beneficiary when the insured person dies. Here are its core concepts, types, cost factors, and US tax rules.
Uzbekistan and South Korea: diplomatic ties and the Daewoo investment (1992–1996)
In the first years of independence, South Korea became one of Uzbekistan's most important economic partners. Diplomatic ties established in 1992 and the automobile joint venture with Daewoo — the Asaka plant in Andijan — laid the foundation for the first large-scale car manufacturing in Central Asia. This neutral history recounts that period on the basis of sources, with verified facts only.
Uzbekistan offers eligible AI projects up to 10mn free tokens a month
Under a 20 October Cabinet resolution, startups, universities and research organisations can use the state AI infrastructure free or at a discount for up to six months.
Uzbekistan's annual inflation eased to 6.4% in September, core inflation at 5.5%
The Central Bank said inflation fell from 8% a year earlier but warned that price pressures persist, keeping monetary policy tight.
How ETFs and index funds work: the basics of passive investing and diversification
An index fund or exchange-traded fund (ETF) lets a single purchase buy a slice of dozens or hundreds of companies. This neutral reference explains passive investing, diversification, the expense ratio and the risks, on the basis of sources. It is not financial advice.
How bonds work: face value, coupon, yield and risks
A bond is a security through which a government or company borrows money and repays it with interest. This reference explains the key terms of a bond, the inverse relationship between price and yield, the types of bonds, the risks, and Uzbekistan's steps into the international bond market, on the basis of sources.
Google Pay officially launches in Uzbekistan
Google launched Google Pay and Google Wallet in Uzbekistan on 19 October at the C5+1 digital technologies session in Samarkand; the Central Bank is integrating Humo, Uzcard, Visa and Mastercard.
Over 1.3 million citizens received free medicines in nine months
According to the Ministry of Health, more than 1.3 million citizens received free medicines under the reimbursement program in January–September 2026; the state reimbursed 248.2 billion soums.
Uzbekistan–UAE trade rises 40% as Masdar and AMEA Power agree to expand projects
At the first session of the fuel-and-energy Investors Council in Tashkent on 16 October, President Shavkat Mirziyoyev met Masdar CEO Mohamed Jameel Al Ramahi and AMEA Power Chairman Hussain Al Nowais; bilateral trade has grown 40% since the start of 2026.
How divorce (talaq) works in Islam: talaq, idda, khul' and the legal procedure
Talaq is the procedure for dissolving a marriage in Islam — permitted, but treated as a last resort. This reference explains the types of talaq, the idda (waiting period), khul' (divorce initiated by the wife), faskh (judicial dissolution) and the legal procedure in Uzbekistan, on the basis of sources and settled facts. The aim is not to give a fatwa but to clarify the basic concepts.
Houthi attacks put Saudi Arabia's Vision 2030 to the test
Houthi attacks on three Saudi airports killed more than 20 people and forced the kingdom's flagship investment summit into a remote format — a blow to Riyadh's goal of attracting $100 billion in annual foreign investment by 2030. The Uzbek link: Saudi Arabia's ACWA Power has invested more than $15 billion in Uzbekistan's energy sector.
What GDP, economic growth and recession are: a full reference
Gross domestic product (GDP) is the headline figure that measures the size of a country's economy. This reference explains what GDP is, the difference between nominal and real GDP, how economic growth is measured, what a recession is, and how these concepts apply to Uzbekistan's figures, on the basis of sources.
Uzbekistan explores joint energy and infrastructure projects with Chinese companies
At the first session of the fuel-and-energy Investors Council in Tashkent on 16 October, President Shavkat Mirziyoyev met executives of CAMCE, China Energy and Sinoma and backed proposals for a logistics hub in Andijan, agrivoltaics and oil-and-gas projects.
Iran declares the Strait of Hormuz “closed”; the US rejects it
Iran's IRGC Navy declared the Strait of Hormuz closed on 17 October; US CENTCOM said the strait remains open. Attacks on tankers rose over the past week and Brent crude climbed to about $110.
Uzbekistan announces plans for second and third nuclear power plants
President Shavkat Mirziyoyev told investors the country plans to build a second and a third nuclear power plant. Talks on the second plant were set for 17 October; the first plant is being built in Jizzakh with Russia's Rosatom.
Uzbekistan cancels oil licenses held by Saneg
The State Assets Management Agency revoked several oil and gas field licenses held by Sanoat Energetika Guruhi (Saneg) for failing to develop deposits and meet conditions. The company, which recently supplied 80% of the country's oil, is in financial difficulty.
How compound interest works and how your savings grow: simple vs compound interest, and the Rule of 72
Compound interest means interest added on top of interest — "interest on interest." It makes savings grow faster over time, but the same rule works against you on debt. This explainer covers the difference between simple and compound interest, the formula, the Rule of 72 and concrete examples, on the basis of sources. This is not financial advice.
Uzbekistan launches a nationwide business census from 15 October
Under Government Resolution No. 557, a nationwide business census runs from 15 October to 30 November 2026. It covers all legal entities, entrepreneurs and informal businesses; results will be published by 1 September 2027. The unobserved economy is estimated at about 246 trillion soums (23%).
How cryptocurrency and blockchain work: the basics, Bitcoin and the risks
A cryptocurrency is a digital asset that works without a central bank or intermediary, using a distributed-ledger technology called blockchain. This explainer sets out, on the basis of sources only, how cryptocurrency and blockchain work, Bitcoin's history, mining, wallets and keys, stablecoins and the main risks. This is not financial advice.
Uzbekistan proposes 1 million soums in winter aid for low-income families
Under a draft by the National Agency for Social Protection, low-income families would receive a one-time 1 million soums in November 2026; the electricity allowance in non-gasified areas would rise to 350 kWh and compensation for liquefied gas would be introduced. The measures are proposed as part of energy-tariff reforms.
Germany to allocate €71 million for projects in Uzbekistan: eight projects for 2026–2027
At intergovernmental talks in Tashkent, Germany agreed to allocate €71 million for eight projects in economic development, social protection, rule of law, climate and energy.
One year of the Gaza ceasefire: strikes continue as medical sources report new deaths
10 October 2026 marks one year of the Gaza ceasefire. Israeli strikes caused new casualties in Gaza City that day; rights groups say the truce 'exists in name only,' while Israel blames Hamas.
Uzbekistan is installing free solar panels for low-income families
Under the $20 million Yorqin Xonadon program, 1,580 homes and 334 public institutions have received panels; another 1,197 families will be added by 2027.
Uzbekistan's September inflation quickens to 0.7%; 4.2% year-to-date
Prices rose 0.7% in September, per the statistics agency. Annual inflation eased to 6.4%. Over the past year vehicle propane rose 49% and tomatoes 55%.
How shares and the stock market work: the basics of investing
A share (aksiya) is a stake of ownership in a company; the stock market is a regulated marketplace for trading shares and other securities (for example NYSE, Nasdaq, London, and the Republican Stock Exchange 'Toshkent' in Uzbekistan). Below, what a share is, how an exchange works, the primary and secondary markets (IPO), how price is set by supply and demand, the difference between bonds and shares, indices (such as the S&P 500), risk and diversification, and the role of brokers and regulators are explained neutrally and strictly on the basis of official and reputable sources. This is not advice — investing carries the risk of loss.
Three years of the Gaza war: death toll passes 74,000
The war that began on 7 October 2023 reached its three-year mark on 7 October 2026. The Gaza Health Ministry says more than 74,000 people have been killed; a ceasefire in force since October 2025 remains fragile.
Uzbekistan's gas exports fell 35% while imports rose 15%
According to the Statistics Agency, gas exports dropped to $322.3 million in January–August 2026 while imports climbed to $1.22 billion. The country has been a net gas importer since 2023.
Uzbekistan's gas exports fall 34.8% as imports rise 15%
In January–August 2026 gas exports dropped to $322.3 million while imports climbed to $1.22 billion. In value terms Uzbekistan imported nearly four times as much gas as it exported, as domestic production fell 16.3%.
Strait of Hormuz: oil exports top pre-war levels despite Iran's closure claims
According to Kpler and Vortexa, Middle East oil exports returned in September to a pre-war level of about 18 million barrels a day — even as attacks on tankers escalate.
From Plan to Market: Uzbekistan's Early Years of Economic Reform (1991–1996)
After Uzbekistan declared independence on 31 August 1991, the transition from the Soviet planned economy toward a market economy began. Between 1991 and 1996 came gradual privatization, partial price liberalization, the introduction of the national currency — the som — and membership of international financial institutions such as the IMF and the World Bank. The documented dates and figures are set out below.
Starting a small business in the US: LLC, EIN and tax basics
In the US, the most common way to run a small business is to form an LLC (a limited liability company) and get an EIN (a federal tax number) from the IRS. Below, business structures, how an LLC is registered, how an EIN is obtained (for free), how tax works and the rules for non-citizens are explained using official sources — the SBA and the IRS. This is a reference, not legal advice.
CAIR urges White House and Congress to demand release of US citizen Abdalkareem Safi held by Israel
The Council on American-Islamic Relations says 19-year-old US citizen Abdalkareem Issa Ahmed Safi has been held by Israel without charge in administrative detention since June, and called on the State Department to secure his release.
G7 to release 100 million barrels of oil and diesel to curb prices
The G7 and EU will release up to 100 million barrels of oil and diesel reserves over four months — diesel frontloaded in the first 20 days — to ease fuel prices driven up by the wars on Iran and in Ukraine.
Strike on a Gaza City apartment building kills at least five Palestinians
Palestinian health and civil-defence officials say an early-Saturday Israeli strike on a residential building in Gaza City killed at least five people, four of them women, as the ceasefire holds only on paper.
The US K-12 school system: the basics for immigrant families
In the US, public education for children is usually called "K-12" — from kindergarten to 12th grade. Public schools are free and open regardless of the child's or parents' immigration status. Below, how the system is structured, how to enroll a child, language support and free-lunch programs are explained using official sources.
Uzbekistan to transfer 11 football clubs, including Pakhtakor, to private trust management
Entrepreneurs taking a club must cover at least 20% of its annual expenses and receive tax breaks; the state plans to stop financing professional football by 2030.
Israel's October 27 election: Netanyahu and Eisenkot neck and neck
Israel votes for the 120-seat Knesset. Polls show a near-tie between Likud and the Yashar party; the election unfolds against a fragile Gaza ceasefire.
Iran's IRGC says it strikes ships daily in the Strait of Hormuz
IRGC spokesperson Hossein Mohebbi said Iranian forces regularly strike small vessels in the Strait of Hormuz; meanwhile a Qatar-mediated proposal to reopen the strait is under discussion with the US.
AIIB and Uzbekistan sign a $5 billion infrastructure programme
An updated multi-year programme signed on the sidelines of the 11th AIIB Annual Meeting in Doha provides for up to $5 billion in financing for infrastructure projects in 2026–2029; the bank also committed a $1.5 million grant to help modernise the power transmission network.
Israeli Finance Minister Calls for a 'Gaza-Style' War in the West Bank
Bezalel Smotrich also demanded dismantling the Palestinian Authority; Cairo and the Palestinians condemned the remarks.
How exchange rates are set and why they change: a full reference
Exchange-rate regimes (free and managed float, fixed/peg), the drivers that move a rate (supply and demand, interest rates, inflation, the trade balance, capital flows), nominal vs real rates, and purchasing power parity (the Big Mac Index). With Uzbekistan's case: the 5 September 2017 liberalization (4,210 → 8,100 som/dollar) and the som's rate today. Based on the IMF and the Central Bank of Uzbekistan.
Amid the Truce, an Israeli Drone Strike Kills One and Wounds Seven in Gaza
Gaza's Government Media Office says the ceasefire has been violated 4,379 times; the truce took effect in October 2025.
Israel's Elections Committee Bars All Arab Parties From the Knesset Vote
The decision, made before the 27 October election, must be approved by the High Court, which has overturned such bans before.
Iran Offers 7-Day Plan to Reopen Strait of Hormuz; Trump Rejects It
Iran's foreign minister set out the conditions; the US president rejected the proposal and said the naval blockade would stay.
How inheritance is distributed in Islamic law: the basics of fara'id
Inheritance (mirath) is a precisely defined branch of Islamic law, the science of fara'id. Which four things are taken from the estate and in what order, the fixed shares (1/2, 1/4, 1/8, 2/3, 1/3, 1/6), why a son takes twice a daughter's share, and the shares of husband, wife, parents and children. A facts-based, sourced guide, based on the Qur'an (Surah An-Nisa) and the four schools of law.
More Than 100 Delegates Walk Out of Netanyahu's UN General Assembly Speech
24 September: the Israeli PM defended his positions on Gaza and Iran; the Palestinian president called it a genocidal war.
Gaza's School Year Opens in Tents: 541,000 Students Return
Per the Palestinian Ministry of Education, about 541,000 students returned to education on 19 September 2026. UNICEF says ~98% of school buildings are damaged; most learning is in tents and damaged classrooms.
Israel Has Targeted Ceasefire Negotiators: The Facts on Doha (2025) and Tehran (2024)
Two documented events: a 9 September 2025 strike on Hamas's negotiating leadership in Doha (six killed, Israel claimed responsibility), and the 31 July 2024 killing of Ismail Haniyeh in Tehran. Facts only, with balance.
Iran Sends Conditions to End Its War With the US via Qatar; Oil Tops $100
Per Iran's SNSC secretary Mohsen Rezaei, Tehran set three conditions to end the war: a halt to fighting on all fronts, release of frozen funds, and an end to the naval blockade. Oil crossed $100/barrel on 9 September.
Uzbekistan Relists Unsold State Assets at ~$83 Opening Bids
84 state assets that found no buyer for years will be re-auctioned at a starting price of just 1 million soum (~$83). The required down payment is cut from 35% to 15%.
Strikes Continue in Gaza: Two Killed on Sept. 13, Hospital Generators Shut Down
A vehicle was struck in the Tal al-Hawa neighborhood of Gaza City on Sept. 13. According to the Health Ministry, hospital generators have failed because of a fuel shortage. The total death toll has reached 73,669.
$8 Billion in State Assets Put Up for Sale: Turonbank, IBC and Uzexpocentre on the List
Under a presidential decree signed Aug. 28, state stakes in 62 companies will be put up for auction by 2028. Proceeds of 14 trillion soums are planned by year's end; a “golden share” mechanism will be introduced at strategic enterprises.
Israeli Ministers Unveil Plans to Displace Gaza's Population; U.S. Rejects Forced Displacement
National Security Minister Itamar Ben-Gvir presented a seven-year plan called “Separation 710.” Defense Minister Israel Katz called displacement “the only solution.” The U.S. State Department rejected forced displacement.
Raid in Gaza City: At Least Four Palestinians Killed in the Attacks
On Sept. 1, Israeli forces carried out an operation to detain the head of Hamas's internal security service. Two children were reported killed in strikes launched to cover the withdrawal.