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During the annual IMF and World Bank meetings in Bangkok, hundreds of protesters, including farmers and human rights organizations, demanded a revision of the funds' policies. Oxfam and activists called spending-cut demands misguided amid inflation, while the IMF insists on rebuilding fiscal buffers, and experts speak of 'two bad options' for developing countries.
Canadian Industry Minister Mélanie Joly said that the American steelmaker Cleveland-Cliffs could be forced to sell its Canadian assets if it cuts up to 500 employees at Stelco. Ottawa cites job-preservation commitments made when Stelco was purchased in 2024 under the Investment Canada Act. Cleveland-Cliffs CEO Lorenzo Goncalves called the government's actions 'bullying' and attributed the layoffs to Trump administration tariffs.
Actor and entrepreneur Mark Wahlberg presented at TechCrunch Disrupt in San Francisco the concept of Municipal Gym — the first club, spanning 32,000 square feet, will open in December near Las Vegas. The project is positioned as an affordable alternative to expensive longevity clubs: for $99, they promise three blood tests and an hour with a doctor, while competitors charge tens of thousands of dollars per year.
BBC economics editor Faisal Islam summed up the annual IMF meetings in Bangkok: the global economy is being pulled in different directions by an energy shock, trade conflicts and war on one side, and massive AI investment on the other. The IMF called the UK a 'model pupil', and Chancellor John Healey linked strong growth data to AI investment. A separate theme was the 'second China shock' in electric vehicles and the UK's rapprochement with the EU.
Türkiye's Trade Minister Ömer Bolat said at Innovation Week in Istanbul that the average export value per kilogram rose to $1.73, and to $2.11 excluding low-tech goods. In the defense industry the figure reached $61.5 per kilogram. The share of high-tech exports grew from 30.4% in 2002 to 43.7% by the end of 2025.
Turkish President Recep Tayyip Erdogan, speaking at the Türkiye Innovation Week 2026 event in Istanbul, said that in 2025 the country exported defense and aerospace products worth more than $10 billion to 180 countries and regions. He also announced a goal of creating 100,000 tech startups by 2030 and commented on the investment fund investigations.
At a press conference after the EU summit in Brussels, European Commission President Ursula von der Leyen called for changing the energy consumption model, saying that dependence on imported oil and gas added €106 billion ($119 billion) in costs without any additional energy. Gas prices rose by about 140% since late February, diesel doubled. Short-term measures were agreed, including the release of 100 million barrels of oil and diesel over four months under the IEA's coordination.
The US federal budget deficit in fiscal year 2026 reached $1.99 trillion, up 12% and the highest since 2021. Rising spending, record interest payments on the national debt, and customs duty refunds following a Supreme Court ruling outweighed revenue growth. The data was published less than three weeks before the midterm elections.
President of Uzbekistan Shavkat Mirziyoyev, as part of the first meeting of the fuel and energy sector investors' council, received delegations from Saudi ACWA Power led by Muhammad Abunayyan, Cengiz Holding led by Mehmet Cengiz, as well as the leadership of SOCAR and British Petroleum. The discussions covered expanding cooperation, green energy, infrastructure, construction of thermal power plants, and modernization of power grids.
Turkish Airlines and CFM International have signed a memorandum for the supply of over 300 LEAP-1B engines for up to 150 Boeing 737 MAX aircraft and long-term maintenance of a fleet of more than 600 engines, including the AJet fleet. The agreement also provides for the creation of an MRO center for LEAP engines in Turkey.
Rising energy and fertilizer prices due to the Middle East conflict drove a 13% jump in global food prices in the third quarter, said International Fund for Agricultural Development (IFAD) President Alvaro Lario. He forecasts further food price increases over the next 6–9 months and calls for long-term resilience measures.
The Central Bank of Uzbekistan announced that on the weekend of October 17–18, branches of 24 commercial banks will be open: currency exchange and money transfer points will operate there. Working hours may vary depending on the branch.
Shavkat Mirziyoyev met with the head of Turkey's Cengiz Holding Mehmet Cengiz and the chairman of Saudi ACWA Muhammad Abunayyan. They discussed the construction of thermal power plants, modernization of power grids, and expansion of cooperation in energy, geology, infrastructure, and high technologies.
Rising energy prices amid the Iran conflict are intensifying inflationary pressure in major economies. The Fed, ECB and Bank of Japan raised rates in September, while the Bank of England held them, but three committee members voted for an increase. Economist Hugh Dixon warns of possible stagnation of growth and recessions in several G7 economies by 2027.
Six energy agreements worth $4.7 billion were signed in Tashkent with the participation of ACWA Power, EDF, Toyota Tsusho and other companies — 3,000 MW of generation and 400 MW of storage. President Shavkat Mirziyoyev announced plans for a second and third nuclear power plant after construction began on the first one with Rosatom in the Jizzakh region. By 2030, the country intends to add 22 GW of capacity and raise the share of renewables to 54%.
Deputy Minister of Construction and Housing and Communal Services Ozoda Zhurayeva said that disconnecting apartments from central heating in order to switch to individual boilers is prohibited by Cabinet of Ministers Resolution No. 194 of July 5, 2014. The ban is explained by the need to keep the building's common system operational. The question was prompted by a proposal to raise heating and hot water tariffs by an average of 30% from November 1, 2026.
A representative of Uzbekistan's Ministry of Energy stated at a press conference on October 14 that in the upcoming autumn-winter season, power outages will be linked only to scheduled repair works, about which residents are warned in advance. The ministry also reported that complaints about electricity supply nearly halved in 2025.
At an open dialogue with fuel and energy sector investors on October 16, Shavkat Mirziyoyev announced the preparation of 128 investment blocks with estimated gas reserves of 5.8 trillion cubic meters and liquid hydrocarbons of 560 million tons. Also discussed were deep gas processing, reform of the liquefied gas market, and personnel training.
