Nilufar Karimova — tafs uz coverage of economy. News, key facts and context in English, Uzbek and Russian.
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Deputy Minister of Economy and Finance Khurshid Mustafayev stated on October 14 that gas for injection into underground storage is being supplied daily on schedule at least until October 25. Current data on volumes in underground gas storage facilities are not publicly disclosed; in October 2024, reserves exceeded 5.1 billion cubic meters.
Nilufar KarimovaRepresentatives of Uzbekistan's Ministry of Energy and Ministry of Economy and Finance stated on October 14 that Russian gas supplies continue in full accordance with contractual obligations, despite the explosion on the Central Asia–Center trunk gas pipeline in Penza region on October 13.
Nilufar KarimovaUzbekistan's antimonopoly committee is studying the validity of taxi aggregators' price increases and signs of unfair competition. The trigger was multiple tariff surges among competitors during peak hours following Yandex Go technical outages on October 9 and 11, caused by drone attacks on Yandex data centers in Russia. Aggregators were advised to revise their pricing algorithms, fix payout glitches for drivers, and unblock drivers who were blocked without justification.
Nilufar KarimovaA Norwegian government commission led by Svein Stoltenberg... wait, led by Svein Gjedrem proposed softening the sovereign fund's ethical rules: allowing investments in nuclear weapons makers from NATO-allied states recognized under the NPT. The fund currently excludes 14 companies, including Airbus, BAE Systems, Boeing, Lockheed Martin and Safran. The report was handed to Finance Minister Jens Stoltenberg; consultations run until January 15.
Nilufar KarimovaUzbekistan's Committee for the Development of Competition and Protection of Consumer Rights has begun studying the prices and services of taxi aggregators against the backdrop of technical failures at major services and multiple price increases during peak hours by competitors. The agency will verify the justification of price increases and signs of unfair competition, and also called on services to revise pricing algorithms, fix withdrawal glitches, unblock drivers, and pay out bonuses. After the Yandex Go outage on October 11–13, demand for Uklon,
Nilufar KarimovaThe Central Bank of Uzbekistan set the dollar rate for October 16 at 12,011.65 soums — the currency has been rising for nine consecutive days and reached its highest level since July 31. The euro rose to 13,462.66 soums, the ruble to 143.17 soums.
Nilufar KarimovaThe euro fell to $1,111 — its lowest level since mid-May 2025 — and to £0.842, a low since early June 2025. Pressure comes from rising energy prices due to the war involving Iran, the French public finance crisis, and a stronger dollar after US inflation hit 3.7%. The ECB has raised rates twice this year, but that has not stopped the decline. Investors await Fed decisions on October 28 and ECB decisions on October 29.
Nilufar KarimovaThe German government approved a draft law on a tax on drinks with a sugar content of 5 g per 100 ml. Rates will be 0.26–0.32 euros per litre, with expected revenues of 690 million euros in 2027 and 925 million in 2028. The law must be approved by the Bundestag; critics, including Boris Rhein (CDU) and the Tax Foundation, doubt the measure's effectiveness.
Nilufar KarimovaThe Treasury Department's Office of the Comptroller of the Currency found some of the largest banks serving the U.S. allowed political considerations, public pressure and social concerns to influence decisions about who received banking services, according to a sweeping report released Wednesday. The OCC said it reviewed the nine largest national banks under its supervision, examining nearly 100,000 complaints and about 420,000 pages of documents. It found that all nine had used "reputation ris
Nilufar KarimovaNetflix announced layoffs of roughly 6% of its staff, about 1,000 people, mainly in product, technology, legal and HR. In a memo, co-CEOs Ted Sarandos and Greg Peters said the business is 'strong and growing' and the company remains on track for its annual forecast. This is the largest layoff since 2022; the quarterly report is expected on October 20.
Nilufar KarimovaThe US Consumer Price Index rose 3.7% year-over-year in September, up from 3.4% in August, exceeding economists' forecasts. Core inflation accelerated to 2.6%. The main driver was a 9.1% monthly gasoline price increase due to the war with Iran. The data strengthened expectations of another Fed rate hike at the October 27–28 meeting.
Nilufar KarimovaThe US Social Security Administration announced a 3.6% benefits increase for 2027 — the largest in four years. About 76 million Americans will receive on average $75 more per month, though advocates for seniors doubt the increase will offset inflation. Separately: startup Floqer at TechCrunch Disrupt presented AI agents for B2B sales and announced plans to open-source its database in early 2027.
Nilufar KarimovaPresident Shavkat Mirziyoyev reviewed a presentation on the efficient use of pastures. Of 21.255 million hectares of pastures, only 40% are used efficiently. Hokims must restore 620 thousand hectares by the end of the year, and 3.7 million hectares in 2027. Measures include drilling wells, building irrigation facilities, formalizing shepherds' rights, and public pastures.
Nilufar KarimovaThe committee of the Central Bank of Uzbekistan held its eighth meeting in September 2026, reviewed 37 issues and decided to fine eight banks. The names of the banks and the fine amounts were not disclosed.
Nilufar KarimovaRussian Finance Minister Anton Siluanov, ahead of the IMFC meeting in Bangkok on October 15-17, called on the IMF to return to its original, purely economic mandate. He criticized the fund's weakening of its three functions - surveillance, lending, and capacity development - pointed to the high concentration of its credit portfolio (over 61% of outstanding credit with the five largest borrowers), repeated breaches in 56% of programs with QPC waivers, and uneven application of rules. Siluanov urged the IMF to focus on macroeconomic policy analysis, set specific corrective measures, and strengthen oversight of systemically important reserve currency issuers.
Nilufar KarimovaIn Uzbekistan, changes to energy tariffs were discussed: the monthly social electricity norm in non-gasified areas during the heating season will be raised from 200 to 350 kWh, and the price within 201-350 kWh will be reduced from 900 to 650 sums per kWh. From November 1, heating and hot water tariffs will rise by 30%, although the cost of services is 4 times higher than the tariffs. Needy families will receive one-time assistance of 1 million sums, covering over 1 million 17 thousand households. Compensation for electricity and gas consumption above basic norms is extended until April 1, 2028, covering an additional 166 thousand families. A compensation of 3 thousand sums per kilogram of liquefied gas is proposed for Social Register families, and 240 billion sums will be allocated to improve the energy efficiency of 3 thousand houses.
Nilufar KarimovaIMF Managing Director Kristalina Georgieva said at a press conference during the IMF and World Bank annual meeting that the United States cannot solve its growing public debt problem through economic growth alone without adjusting taxes and budget spending. She called advanced economies, primarily the US and European countries, leaders in excessive indebtedness, noting that rising government bond yields hurt low-income countries. Georgieva said US budget deficit and debt levels are too high and must be brought to more acceptable levels, stressing that growth alone will not deliver the necessary changes fast enough. The IMF's Fiscal Monitor report released on October 14 also warned that delays in debt-reduction measures will complicate the problem amid rising borrowing costs.
Nilufar KarimovaLuna Catering, which has grown within a few years to the largest projects in the country, announces its ambition to become the benchmark for off-site catering in Central Asia by 2029 and shares its outlook on the market for the coming years.
Nilufar Karimova
