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On October 15–16, a delegation of Larsen & Toubro, Adani Group and Reliance Industries visited Uzbekistan. The guests were presented with New Tashkent development plans; the companies declared their readiness to prepare cooperation proposals, and Reliance announced its readiness for partnership in solar energy.
Nilufar KarimovaChancellor of the Exchequer John Heeley has rejected calls from some Labour MPs to raise capital gains tax (CGT) in the first budget of Andy Burnham's government. According to The Times, the decision followed warnings that a tax rise could cost the Treasury money due to wealthy people leaving and asset sales being delayed. Earlier, Wes Streeting and Louise Haigh had advocated aligning CGT with income tax.
Nilufar KarimovaAccording to Eurostat data published by the Federal Statistical Office of Germany, in 2025 women held 30.3% of leadership positions in the country, compared with an EU average of 35.9%. Over ten years, the share grew by only one percentage point, while the EU average rose by four. At the same time, the share of women among those employed in Germany is above the European average, and in the government it stands at 42.6%.
Nilufar KarimovaOn Monday, the US market closed mixed: the S&P 500 rose 0.41%, the Nasdaq gained 1.11%, and the Dow Jones lost 0.07%. The technology sector recovered after a sell-off in AI-related stocks. European indices, including the Stoxx Europe 600, FTSE 100 and DAX, declined.
Nilufar KarimovaOn October 19, the second meeting of the US-Uzbekistan Business and Investment Council opened in Samarkand with the participation of Shavkat Mirziyoyev, US Secretary of State Marco Rubio, and special envoy Sergio Gor. A package of 54 agreements and initiatives worth about $12 billion was prepared for the meeting. Uzbekistan proposed moving to a
Nilufar KarimovaMass protests in France triggered a sell-off on European exchanges: the CAC 40 lost 1.56%, the DAX 40 fell 1.36%, and the FTSE MIB 30 dropped 1.77%. Shares of BNP Paribas, Societe Generale and Credit Agricole fell 2–2.5%, AXA fell almost 2%. The euro declined against the dollar, government bonds came under pressure, and the France–Germany yield spread stood at around 140 basis points.
Nilufar KarimovaParis and Milan led the decline of European markets on Monday amid mass riots in France and clashes in Milan, which heightened concerns over high debt. Nasdaq rebounded after last week's drop on AI worries. In Jakarta, the market plunged to a six-year low following an MSCI decision.
Nilufar KarimovaIn the third quarter, China's GDP grew 4.5% year-on-year and 1.2% quarter-on-quarter, beating forecasts. Growth over the first nine months — 4.6% — falls within Beijing's target range of 4.5–5%. Strong export performance, linked to the AI and technology sector, is offsetting weak domestic demand, while expectations of large-scale stimulus have declined.
Nilufar KarimovaThe ifo Institute reported that from the end of 2018 to the end of 2025, industrial employment in Germany subject to social insurance contributions fell by 496,000 people (7.1%), while the services sector added more than 2.2 million jobs. The main losses were in the automotive industry, metal processing and mechanical engineering.
Nilufar KarimovaAccording to the Central Bank of Uzbekistan's 'Labor Market Review', in the first half of 2026, 1.179 million citizens went to work in Russia — 13.2% fewer than a year earlier. Meanwhile, migration to the EU, Turkey and South Korea is growing, and transfers from Russia increased by 8.8%. The Central Bank warns of a possible negative impact of reduced migration on household incomes.
Nilufar KarimovaThe government of Bangladesh led by Prime Minister Tarique Rahman has requested a new IMF loan of $4.5 billion and $10 billion from the World Bank over three years, seeking tailored lending terms. Negotiations are ongoing; the previous IMF program was agreed in January 2023 under the government of Sheikh Hasina.
Nilufar KarimovaAccording to Reuters, citing FAO chief economist Máximo Torero, the global food system is under simultaneous pressure from several factors: attacks on grain infrastructure in the Black Sea, instability in the Red Sea, rising fuel prices, and disruptions to fertilizer exports through the Strait of Hormuz. The FAO food price index in September stood at 136 points — the highest since November 2022. Low- and middle-income countries are suffering the most.
Nilufar KarimovaFrench 10-year bond yields are holding near 4.9% amid street protests and the fight over the 2027 budget. Public debt has reached 119% of GDP, and interest payments will rise by almost €12 billion. Oxford Economics modeled scenarios: in the harsh variant, France and Italy would enter recession in 2027, although the eurozone as a whole would avoid it. Economists note that the ECB is better prepared to support countries than in the 2010s.
Nilufar KarimovaDuring the visit of an American delegation to Uzbekistan, a package of 54 agreements in trade, investment and technological cooperation was signed, with an expected deployment of $12 billion. The agreements cover industry, infrastructure, critical minerals, finance, digital technologies, agriculture, healthcare and education. Representatives of more than 400 companies took part in the business program.
Nilufar KarimovaOn October 19 in Samarkand, President of Uzbekistan Shavkat Mirziyoyev received Franklin Templeton President and CEO Jenny Johnson. The parties discussed the results of state enterprise transformation, the first international IPO of the National Investment Fund, which raised about $700 million, as well as expanding citizens' participation in future share placements.
Nilufar KarimovaMonday brought a recovery in global markets: US Treasury yields fell, gold rose, and US indices opened higher. Support came from optimism around a new Middle East peace plan and China's Q3 GDP data (+4.5%). European indices, however, opened lower amid protests in France, while the Nikkei 225 fell after statements by Prime Minister Takaichi.
Nilufar KarimovaUzbekistan's Agency for State Asset Management announced the start of the preparatory stage of privatization of the Uzbekistan GTL plant, built at a cost of $3.42 billion, and is considering an IPO, which international investors have shown interest in. The company's financial indicators were not disclosed at the press conference. According to the plant's website, as of June 16, 2026, the remaining principal debt on loans was $838.2 million.
Nilufar KarimovaGerman defense group Rheinmetall and Swiss shipping company MSC won the auction to buy the Romanian Mangalia shipyard for approximately €138 million ($155 million). The deal is expected to close within a few weeks. The shipyard is planned to be developed as a dual-use facility for civilian and military shipbuilding.
Nilufar Karimova
