Avesta Investment Group - Uzbekistan

@avestagroupuz

Avesta Investment Group - a leading financial advisory firm in Uzbekistan and Turkmenistan.

https://www.avestagroup.com
https://www.facebook.com/avestagroup.uz/

For the feedback, please contact @KarenSrapionov

Avesta Investment Group - Uzbekistan (English)

Are you looking to invest wisely in Uzbekistan and Turkmenistan? Look no further than Avesta Investment Group! Avesta Investment Group is a leading financial advisory firm that provides top-notch investment advice and services to clients in the region. With a team of experienced professionals, Avesta Investment Group is dedicated to helping individuals and businesses make smart investment decisions.

Their expertise and commitment to excellence have earned them a stellar reputation in the industry. Whether you are a seasoned investor or new to the world of finance, Avesta Investment Group can help you achieve your financial goals. Their services include portfolio management, risk analysis, and strategic financial planning.

To learn more about Avesta Investment Group and how they can help you grow your wealth, visit their website at https://www.avestagroup.com. You can also follow them on Facebook at https://www.facebook.com/avestagroup.uz/ for the latest updates and news in the world of finance.

For any questions or feedback, don't hesitate to contact @KarenSrapionov. Take the first step towards a secure financial future with Avesta Investment Group today!

Avesta Investment Group - Uzbekistan

11 Jan, 07:04

Weekend reading: Is Uzbekistan the next great architectural destination?

https://www.cnn.com/2025/01/07/style/uzbekistan-architecture-destination-tashkent/index.html

120

Avesta Investment Group - Uzbekistan

10 Jan, 11:00

Volume of cement sold through Uzbek Commodity Exchange JSC (URTS) increased by 58% up to 5.9mln tons in 2024.

https://uz.kursiv.media/2025-01-10/prodazhi-czementa-na-uzrtsb-vyrosli-na-58/

195

Avesta Investment Group - Uzbekistan

10 Jan, 10:05

US and Uzbekistan partnering on critical minerals.

https://www.geopoliticalmonitor.com/not-so-nearshoring-the-case-for-a-us-uzbekistan-critical-minerals-partnership/

201

Avesta Investment Group - Uzbekistan

10 Jan, 07:00

Uzum was included in top 5 companies with Russian-speaking roots that received the most amount of funding in 2024.

https://www.forbes.ru/svoi-biznes/527543-dva-edinoroga-i-novyj-biznes-voloza-komu-dali-bol-se-vsego-deneg-v-2024-godu

233

Avesta Investment Group - Uzbekistan

09 Jan, 07:01

Sarbon-Neftegaz JSC (SANE) was included back in the official Tashkent Stock Exchange listing from January 9th.

https://uzse.uz/boards/3933

262

Avesta Investment Group - Uzbekistan

08 Jan, 12:03

After the government allowed Uzbekistan Railways JSC to set their own service charges, the tariffs on two tracks with increasing international importance went up. Simultaneously, taxes on services that enable international trade were canceled.

https://www.railfreight.com/beltandroad/2025/01/07/a-financial-boost-and-setback-for-rail-in-uzbekistan/

276

Avesta Investment Group - Uzbekistan

08 Jan, 11:04

London-based Cross Works revealed the masterplan for the New Tashkent expansion.

https://www.archdaily.com/1025409/cross-works-unveils-masterplan-for-new-tashkent-expansion-in-uzbekistan

279

Avesta Investment Group - Uzbekistan

08 Jan, 10:04

Kazakhstan plans to launch a new railway connecting to Uzbekistan by 2027. Estimated project cost is nearly $550mln.

https://kun.uz/en/news/2025/01/06/kazakhstan-to-launch-new-railway-connecting-to-uzbekistan-by-2027

255

Avesta Investment Group - Uzbekistan

08 Jan, 05:59

Foreign reserves increased by 19.1% and reached $41.2bln in 2024, including a 30% increase in gold reserves, which amounted to $32bln.

https://cbu.uz/ru/statistics/intlreserves/2071744/

266

Avesta Investment Group - Uzbekistan

07 Jan, 11:59

Central Bank of Uzbekistan purchased 9 tons of gold in November, becoming the second-largest gold buyer in the world.

https://www.spot.uz/ru/2025/01/06/gold-sales/

293

Avesta Investment Group - Uzbekistan

07 Jan, 11:06

Uzbekistan is looking to increase tea imports from India.

https://www.newindianexpress.com/nation/2025/Jan/03/uzbekistan-eyes-increased-tea-imports-from-india-to-rekindle-historic-trade-ties

264

Avesta Investment Group - Uzbekistan

07 Jan, 07:03

MIIT representative responds to the statement made by UN ESCAP regarding the decrease in the volume of investments attracted to Uzbekistan by 49% in 2024, emphasizing the unreliable nature of this statistic.

https://kun.uz/en/news/2024/12/30/uzbekistans-miit-responds-to-escap-report-on-investment-decline

283

Avesta Investment Group - Uzbekistan

07 Jan, 06:00

VAT and income tax rates in Uzbekistan will not be increased until 2028.

https://www.gazeta.uz/ru/2024/12/30/vat/

273

Avesta Investment Group - Uzbekistan

07 Jan, 05:02

UzbekCoal JSC (UZIR) increased coal production up to record 6.7mln tons, increasing by 15% in 2024.

https://www.spot.uz/ru/2025/01/01/coal-production/

265

Avesta Investment Group - Uzbekistan

06 Jan, 12:06

KPMG writes about proposed tax measures in 2025-2027 budget of Uzbekistan.

https://kpmg.com/us/en/taxnewsflash/news/2024/12/tnf-uzbekistan-proposed-tax-measures-in-2025-2027-budget.html

308

Avesta Investment Group - Uzbekistan

06 Jan, 11:04

China-Kyrgyzstan-Uzbekistan railway project is a strategic decision made by the three governments to promote regional connectivity, prosperity.

https://www.globaltimes.cn/page/202412/1325905.shtml

250

Avesta Investment Group - Uzbekistan

06 Jan, 10:02

All oil products produced by Bukhara Oil Refinery including petroleum will be sold through Uzbek Commodity Exchange JSC (URTS).

https://www.spot.uz/ru/2024/12/30/ung-market/

241

Avesta Investment Group - Uzbekistan

06 Jan, 09:01

Zero customs duties for more than 60 products including meat, dairy products, vegetables and fruits were prolonged until 2026.

https://www.gazeta.uz/ru/2024/12/29/import/

244

Avesta Investment Group - Uzbekistan

06 Jan, 07:03

Analysis of the draft general plan of Tashkent until 2045.

https://www.gazeta.uz/ru/2022/10/25/master-plan/

242

Avesta Investment Group - Uzbekistan

06 Jan, 06:01

In 9M2024, Uzbekistan's external debt reached $60.2bln.

https://kun.uz/en/news/2024/12/26/uzbekistans-total-external-debt-surpasses-60-billion

242

Avesta Investment Group - Uzbekistan

06 Jan, 05:03

Alif Uzbekistan attracted $3mln from International Islamic Trade Finance Corporation (ITFC) to development its Nasiya installment service.

https://fintech-retail.com/2025/01/03/alif-2/

251

Avesta Investment Group - Uzbekistan

06 Jan, 03:30

Bi-weekly overview of stock exchange trading and news.

240

Avesta Investment Group - Uzbekistan

28 Dec, 07:01

Weekend reading: 11 hidden eco-havens in Uzbekistan you never knew existed (and why they’ll steal your heart).

https://www.journee-mondiale.com/en/11-hidden-eco-havens-in-uzbekistan-you-never-knew-existed-and-why-theyll-steal-your-heart/

123

Avesta Investment Group - Uzbekistan

28 Dec, 06:01

Weekend reading: Ancient silk, coins found during China-Uzbekistan joint archaeological project.

https://www.globaltimes.cn/page/202412/1325576.shtml

130

Avesta Investment Group - Uzbekistan

28 Dec, 05:00

Weekend reading: Discovering Khiva, the walled city of Itchan Kala.

https://www.bbc.com/storyworks/uzbekistan-tourism/discovering-khiva-the-walled-city-of-itchan-kala

125

Avesta Investment Group - Uzbekistan

27 Dec, 12:30

TBC Bank Uzbekistan JSCB placed 128bln UZS corporate bonds issue at the local market. The transaction was facilitated by Avesta Investment Group and TBC Capital.

https://www.citybiz.co/article/642181/tbc-bank-uzbekistan-announces-one-of-the-largest-corporate-bond-issues-on-uzbekistans-local-market/

170

Avesta Investment Group - Uzbekistan

27 Dec, 12:00

Foreign trade turnover in 11M2024 increased by 3.6% and amounted to $59.4bln including a 3.0% increase in imports, up to $35.1bln and a 4.4% increase in exports up to $24.2bln.

https://stat.uz/ru/press-tsentr/novosti-goskomstata/58306-vneshnetorgovyj-oborot-respubliki-uzbekistan-za-yanvar-iyun-2024-g-5

165

Avesta Investment Group - Uzbekistan

27 Dec, 11:00

In 11M2024, gas extraction dropped by 4.7% y-o-y and oil production declined by 7.3% y-o-y.

https://kun.uz/en/news/2024/12/23/uzbekistans-natural-gas-oil-and-gasoline-production-continues-to-decline

181

Avesta Investment Group - Uzbekistan

27 Dec, 10:02

Banking NPL in November reached 4.3%, including 4.1% for state-owned banks and 4.6% for private.

https://cbu.uz/ru/statistics/bankstats/2057155/

193

Avesta Investment Group - Uzbekistan

27 Dec, 09:01

President held a meeting with entrepreneurs to discuss 2025 plans, projecting a GDP of $120bln, exports of $30bln and investments exceeding $42bln.

https://www.spot.uz/ru/2024/12/25/president-business/

223

Avesta Investment Group - Uzbekistan

27 Dec, 07:00

Uzbekneftegaz JSC (UZNG) projects a decline in gas production down to 26.5bln cubic meters.

https://www.gazeta.uz/en/2024/12/23/uzbekneftegaz/

201

Avesta Investment Group - Uzbekistan

27 Dec, 06:01

In 11M2024, Almalyk Mining JSC (AGMK) exported goods worth $578.8mln, a 5.4% y-o-y decline.

https://agmk.uz/ru/news/okmkda-11-oyda-578-796-000-dollarlik-mashsulot-eksport-qilindi

211

Avesta Investment Group - Uzbekistan

27 Dec, 05:00

WB to provide $3.5mln payment guarantee to National Electric Grid JSC for purchasing electricity from a 100MW solar power plant built by Voltalia.

https://www.worldbank.org/en/news/press-release/2024/12/23/uzbekistan-to-launch-a-new-solar-plant-with-support-from-the-world-bank-group.print

209

Avesta Investment Group - Uzbekistan

26 Dec, 12:01

Cement capacity reached 35.3Mta in 2023 and projected to reach 41Mta by the end of 2024.

https://www.cemnet.com/Articles/story/178337/uzbekistan-s-growth-challenge.html

230

Avesta Investment Group - Uzbekistan

26 Dec, 11:01

CR20G finalized the construction of A380 highway project in Uzbekistan.

https://www.chinadaily.com.cn/a/202412/19/WS676374f2a310f1265a1d3b2d.html

233

Avesta Investment Group - Uzbekistan

26 Dec, 10:00

Uzbekistan’s gas exports to China increased by 27.1% in 11M2024.

https://kun.uz/en/news/2024/12/21/uzbekistan-increases-gas-exports-to-china-by-27-amid-rising-imports

321

Avesta Investment Group - Uzbekistan

26 Dec, 09:01

Chinese Shandong Weida Construction Machinery to build factory for production of construction materials in Fergana region.

https://www.spot.uz/ru/2024/12/25/shandong-weida/

229

Avesta Investment Group - Uzbekistan

26 Dec, 08:00

Alif to attract $20mln from US based Accial Capital.

https://www.spot.uz/ru/2024/12/26/alif-accial/

215

Avesta Investment Group - Uzbekistan

26 Dec, 07:01

President approved state budget for 2025. Maximum deficit of the consolidated budget for 2025 is set at 3% of GDP.

https://www.spot.uz/ru/2024/12/25/budget-2025/

235

Avesta Investment Group - Uzbekistan

26 Dec, 06:01

Car plate number was sold for a record 965mln UZS through Uzbek Commodity Exchange (URTS).

https://www.spot.uz/ru/2024/12/25/vehicle-code/

233

Avesta Investment Group - Uzbekistan

26 Dec, 05:00

Number of tourists visiting Uzbekistan reached 7.3mln in 11M2024.

https://www.spot.uz/ru/2024/12/24/visitors-11m/

226

Avesta Investment Group - Uzbekistan

25 Dec, 10:01

According to SWI, Swiss government admits possibility that Russian gold may enter Switzerland through trade flows with Kazakhstan and Uzbekistan.

https://www.swissinfo.ch/eng/swiss-politics/sanctions-enforcement-bern-cannot-rule-out-switzerland-gets-russian-gold-via-central-asia/88498901

254

Avesta Investment Group - Uzbekistan

06 Dec, 13:00

Dear Clients,

Monday, December 9th is not a trading day at the Stock Exchange due to a National holidays - Constitution Day.

122

Avesta Investment Group - Uzbekistan

06 Dec, 11:01

MoEF held a meeting with representatives of the Al Ghanim & Sons Group of Companies of the State of Kuwait where cooperation on PPP projects in Uzbekistan was discussed.

https://telegra.ph/A-meeting-was-held-with-representatives-of-the-Al-Ghanim--Sons-Group-of-Companies-of-the-State-of-Kuwait-12-06

161

Avesta Investment Group - Uzbekistan

06 Dec, 06:01

TBC's business in Uzbekistan valued at over $1bln.

https://www.citybiz.co/article/633401/tbc-bank-groups-uzbek-business-valued-at-over-1b-to-fuel-share-price-growth/

218

Avesta Investment Group - Uzbekistan

06 Dec, 05:01

Fitch withdraws UzAgroSugurta Insurance JSC's (UZAS) rating due to the insufficient information provided by the company.

https://www.fitchratings.com/research/insurance/fitch-places-uzagrosugurta-joint-stock-company-on-rating-watch-negative-withdraws-rating-03-12-2024

223

Avesta Investment Group - Uzbekistan

05 Dec, 12:00

TBC Bank Uzbekistan JSCB announced the debut UZS-denominated bonds placement - 40bln UZS issue with one year maturity and 24% coupon rate placed with the help of TBC Capital and Avesta Investment Group's brokerage wing - TAT-Reestr LLC.

Congratulations to all colleagues and partners engaged in the process!

https://tbcbank.uz/ru/news/288/tbcbank-placed-debut-issue-of-bonds

241

Avesta Investment Group - Uzbekistan

05 Dec, 10:02

Overview of Uzbek economy and investments attracted to the country.

https://gfmag.com/economics-policy-regulation/uzbekistan-minister-laziz-kudratov-on-countrys-sweeping-economic-makeover/

272

Avesta Investment Group - Uzbekistan

05 Dec, 06:01

German International Cooperation Society (GIZ) to allocate 9mln EUR to support creation of green master plans and their implementation.

https://www.spot.uz/ru/2024/12/04/giz-cities/

269

Avesta Investment Group - Uzbekistan

04 Dec, 06:01

Chinese Sinoma EC International to build a 300MW solar power plant and 75MW electricity storage systems in Navoi region.

https://gov.uz/ru/miit/news/view/28981

261

Avesta Investment Group - Uzbekistan

03 Dec, 11:01

Real estate experts estimated the minimum cost of business centers of Uzpromstroybank JSCB (SQBN), Aloqabank JSCB (ALKB) and Asaka Bank JSCB (ex.ASBU) in Tashkent City at $330mln.

https://www.spot.uz/ru/2024/12/02/business-centers/

265

Avesta Investment Group - Uzbekistan

03 Dec, 10:00

Uzbekistan and China agree on 30-day visa-free entry for citizens.

https://www.gazeta.uz/en/2024/12/01/china/

243

Avesta Investment Group - Uzbekistan

03 Dec, 09:01

Navoi Mining JSC (NGMK) to issue Eurobonds for $500mln next year. It is planned to attract $1bln in investments in mining and geological sectors in 2025.

https://www.gazeta.uz/ru/2024/12/03/ngmk/

237

Avesta Investment Group - Uzbekistan

03 Dec, 07:00

Comments on recent SPO of Uzbek Commodity Exchange JSC (URTS) by Zakhro Murtazaeva, Financial Analyst at Avesta Investment Group.

https://uz.kursiv.media/2024-11-30/kak-proshlo-pervoe-za-pyat-let-spo-v-uzbekistane/

238

Avesta Investment Group - Uzbekistan

03 Dec, 06:00

Inflation in November reached 0.93% or 10.02% y-o-y.

https://stat.uz/ru/press-tsentr/novosti-goskomstata/58494-indeks-potrebitel-skikh-tsen-v-respubliki-uzbekistan-centyabr-2024-goda-3?utm_source=in_materials

238

Avesta Investment Group - Uzbekistan

03 Dec, 05:01

OPEC Fund for International Development to provide $30mln to Ipak Yuli JSICB (IPKY) to support MSMEs business. It is a first transaction of the fund with private bank in Uzbekistan.

https://finance.yahoo.com/news/emga-arranges-us-30m-debt-190000763.html

266

Avesta Investment Group - Uzbekistan

02 Dec, 12:01

Overview of ongoing customs reform in Uzbekistan and suggestions on further improvements.

https://anhor.uz/economy/finish-2/

221

Avesta Investment Group - Uzbekistan

27 Nov, 10:02

Mining Journal: Muruntau mine operated by Navoi Mining JSC (NGMK) is one of the world's largest gold mines, reaching depths of 600m and spanning 3.5km wide.

https://www.mining-journal.com/miners/news-analysis/4382027/uzbeks-hidden-gem-5km-wide-59-9moz-gold

188

Avesta Investment Group - Uzbekistan

27 Nov, 06:00

Average local currency retail deposit rate reached 22.1% (+0.1%) in October.

https://www.spot.uz/ru/2024/11/26/deposits-oct24/

195

Avesta Investment Group - Uzbekistan

27 Nov, 05:01

S&P assigned Navoi Uranium JSC BB- rating with Stable outlook.

https://disclosure.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3289334?utm_source=in_materials

218

Avesta Investment Group - Uzbekistan

26 Nov, 11:02

Uzbekistan raises fees for cement imported from Tajikistan by seven-fold.

https://www.globalcement.com/news/item/18134-uzbekistan-raises-fees-sharply-upon-tajik-cement-imports

242

Avesta Investment Group - Uzbekistan

26 Nov, 09:01

ACWA Power will get contractual priority for the development of up to 2GWh of standalone battery energy storage system (BESS) projects in Uzbekistan.

https://www.energy-storage.news/uzbekistan-signs-binding-agreement-for-battery-storage-with-acwa-power-at-cop29/

253

Avesta Investment Group - Uzbekistan

26 Nov, 06:01

Fitch downgraded Kafolat Insurance JSC's (ex. KFLT) outlook to Negative, affirmed at B+ level.

https://www.fitchratings.com/research/insurance/fitch-revises-kafolat-outlook-to-negative-affirms-ifs-at-b-20-11-2024

243

Avesta Investment Group - Uzbekistan

25 Nov, 12:02

Tashkent Stock Exchange announced that trading with Uzbekistan Commodity Exchange JSC (URTS) shares will resume from 26th of November and share price will be adjusted according to following calculation: 15,399/5 = 3,079 UZS.

https://uzse.uz/boards/3906

255

Avesta Investment Group - Uzbekistan

25 Nov, 10:00

Chinese Eximbank to open a regional office in Tashkent. The bank financed more than 50 projects in Uzbekistan for over $3bln.

https://www.spot.uz/ru/2024/11/23/china-bank/

228

Avesta Investment Group - Uzbekistan

25 Nov, 09:01

Export of natural and liquefied gas from Kyrgyzstan to Uzbekistan increased by 5.3 times in 9M2024.

https://kun.uz/en/news/2024/11/21/kyrgyzstans-gas-exports-to-uzbekistan-surge-fivefold-in-2024

252

Avesta Investment Group - Uzbekistan

25 Nov, 07:01

Tashkent Stock Exchange to integrate its IT infrastructure with Bloomberg.

https://www.spot.uz/ru/2024/11/22/bloomberg/

260

Avesta Investment Group - Uzbekistan

25 Nov, 06:00

EBRD to provide $10mln to TBC Uzbekistan to promote lending to micro and youth-owned businesses and women entrepreneurs.

https://www.ebrd.com/news/2024/ebrd-provides-first-loan-to-tbc-bank-uzbekistan.html

269

Avesta Investment Group - Uzbekistan

25 Nov, 05:01

Gold exports in October reached $833.3mln, a 3.5% y-o-y decline.

https://kun.uz/en/news/2024/11/22/uzbekistans-october-gold-exports-hit-833-million

270

Avesta Investment Group - Uzbekistan

25 Nov, 03:31

Bi-weekly overview of stock exchange trading and news.

271

Avesta Investment Group - Uzbekistan

23 Nov, 07:01

Weekend reading: Uzbekistan targets growth with expansion to its capital.

https://edition.cnn.com/2024/11/18/business/new-tashkent-uzbekistan-capital-expansion-hnk-spc/index.html

312

Avesta Investment Group - Uzbekistan

22 Nov, 09:01

Uzbekistan plans to build carbon-free data processing center with Saudi companies.

https://www.datacenterdynamics.com/en/news/uzbekistan-to-build-carbon-free-data-center-with-saudi-partners/

338

Avesta Investment Group - Uzbekistan

22 Nov, 05:01

Banking NPL in October reached 4.2%, including 4.1% for state-owned banks and 4.4% for private.

https://cbu.uz/ru/statistics/bankstats/1970728/

353

Avesta Investment Group - Uzbekistan

12 Nov, 11:00

By the end of 2024, volume of remittances may grow up to $15bln and by 2027 up to $20bln.

https://www.gazeta.uz/ru/2024/11/11/money-transfers/

165

Avesta Investment Group - Uzbekistan

12 Nov, 10:02

Project for the extraction and processing of oil shale for $8bln will be launched in Navoi region. In the initial stage, four installations will be able to process up to 1.5mln tons of shale ore per year to produce 800,000 tons of oil, 300mln cubic meter of gas and generate 150MW of electricity.

https://www.gazeta.uz/ru/2024/11/11/shale-resources/

159

Avesta Investment Group - Uzbekistan

12 Nov, 09:01

By 2030, Uzbekistan plans to export all excess electricity capacity to Europe.

https://www.spot.uz/ru/2024/11/11/electricity-export/

274

Avesta Investment Group - Uzbekistan

12 Nov, 07:01

Government plans to continue subsidizing prices for gas, electric and thermal electricity, despite tariff increases. For this purpose, 12.3trln UZS will be allocated from the state budget in 2025.

https://www.gazeta.uz/ru/2024/11/11/subsidy/

171

Avesta Investment Group - Uzbekistan

12 Nov, 06:02

Chinese Geely to enter the Uzbek market in 2025.

https://www.spot.uz/ru/2024/11/09/geely/

209

Avesta Investment Group - Uzbekistan

11 Nov, 10:00

Amount of issued car loans declined by 2.4 times, amounting to 12.8trln UZS in 9M2024. Consumer lending decreased by 2.5 times down to 13.1trln UZS.

https://www.spot.uz/ru/2024/11/09/lending-decline/

239

Avesta Investment Group - Uzbekistan

11 Nov, 09:01

In 9M2024, amount of microloans allocated to the population increased by 53.2% y-o-y, reaching 31.86trln UZS. Similarly, there was a 64.8% increase in volume of microcredits, totaling 12.26trln UZS.

https://www.spot.uz/ru/2024/11/09/microfinance/

232

Avesta Investment Group - Uzbekistan

11 Nov, 07:00

IFC committed over $1bln in climate finance, renewable energy and financial inclusion projects in Central Asia region over the last year.

https://www.ifc.org/en/pressroom/2024/ifc-increases-impact-in-central-asia-with-strong-investments-in-fiscal-year-2024

222

Avesta Investment Group - Uzbekistan

11 Nov, 06:01

ADB to allocate nearly $50mln to Ipak Yuli JSICB (IPKY) to enhance access to financing for MSMEs in Uzbekistan.

https://www.adb.org/news/adb-ipak-yuli-bank-sign-deal-enhance-sustainable-and-inclusive-access-finance-uzbekistan

247

Avesta Investment Group - Uzbekistan

11 Nov, 03:30

Bi-weekly overview of stock exchange trading and news.

247

Avesta Investment Group - Uzbekistan

08 Nov, 09:01

A unified platform for electricity trading in Central Asia might be created.

https://www.gazeta.uz/ru/2024/11/07/electricity/

317

Avesta Investment Group - Uzbekistan

08 Nov, 07:02

Brief interview with Mr. Eugene Antonov, Navoi Mining JSC's (NGMK) First Deputy Director, on maintaining the profitability of production and prospects of additional Eurobonds issue.

https://www.gazeta.uz/ru/2024/11/07/ngmk/

386

Avesta Investment Group - Uzbekistan

08 Nov, 06:02

Foreign reserves increased by 4.9% from $41.2bln to $43.1bln, including $1.5bln increase in gold.

https://cbu.uz/ru/statistics/intlreserves/1943862/

296

Avesta Investment Group - Uzbekistan

07 Nov, 12:02

Uzbekistan plans to develop a legal framework for the operation of the carbon market and carbon pricing mechanisms.

https://www.gazeta.uz/ru/2024/11/07/carbon-market/

305

Avesta Investment Group - Uzbekistan

07 Nov, 10:00

Chilonzor buyum savdo kompleksi JSC (CBSK) announced the non-audited results of 9M2024:
* Total assets decreased by 12.6% y-o-y and reached 148.9bln UZS;
* Total equity rose by 18.6% up to 138.3bln UZS;
* Total liabilities declined by 80.2% and amounted to 10.6blnUZS;
* Revenue decreased by 10.2%, amounting to 55.3bln UZS;
* EBIT grew by 27.9% to 26.2bln UZS;
* Net profit increased by 28.6% up to 20.9bln UZS, with a 20.9% margin;
* Estimated P/B ratio at the level of 2,12 UZS per share - 0.7;
* Estimated P/E ratio at the level of 2,12 UZS per share - 6.1.

297

Avesta Investment Group - Uzbekistan

07 Nov, 09:02

Toshkentdonmahsulotlari JSC (TDM) announced non-audited results of 9М2024:
* Total assets decreased by 7.7% y-o-y and reached 501.8bln UZS;
* Total equity went down by 41.3% and reached 63.2bln UZS;
* Total liabilities increased by 0.54% and equaled 438.5bln UZS;
* Revenue declined by 30.4% and amounted to 239.1bln UZS;
* COGS decreased by 37.9% and equaled 200.4bln UZS;
* EBIT turned from 3.65bln UZS to negative 10.3bln UZS;
* Net loss equaled 18bln UZS;
* Estimated P/B ratio at the level of 2,500 UZS per share - 0.39.

272

Avesta Investment Group - Uzbekistan

07 Nov, 06:01

TBC Bank Uzbekistan's net profit reached $12mln, increasing by 2.3 times in 9M2024. The loan portfolio of the bank more than doubled ($460mln) and deposits volume equaled $314mln (+66.7%).

https://www.spot.uz/ru/2024/11/06/tbc-9m24/

259

Avesta Investment Group - Uzbekistan

06 Nov, 09:00

Toshkentvino JSC (ex. TKVK) announced non-audited results of 9M2024:
* Total assets rose by 1.28 times and amounted 722.4bln UZS;
* Total equity increased slightly by about 1% up to 300.35bln UZS;
* Total liabilities expanded by nearly 1.58 times and equaled to 422bln UZS;
* Revenue increased by 4.2% to 561.67bln UZS;
* COGS declined by 17% and amounted 321.6bln UZS;
* EBIT increased by 1.15 times and equaled to 86.16bln UZS;
* Net profit saw a slight decrease of 0.5% and amounted 47.4bln UZS;
* Estimated P/B ratio at the level of 29,700 UZS per share - 1.9;
* Estimated P/E ratio at the level of 29,700 UZS per share - 7.0.

265

Avesta Investment Group - Uzbekistan

06 Nov, 07:01

Uzmetkombinat JSC (UZMK) announced non-audited results of 9M2024:
* Total assets increased by 3.8% y-o-y, reaching 12.8tln UZS;
* Total equity reached 5.8tln UZS or by 1.2% higher;
* Total liabilities increased by 6.1% and equaled 7tln UZS;
* Revenue decreased by 6.9%, amounting to 5.7tln UZS;
* COGS decreased by 6.8%, while SG&A dropped by 16.4%;
* Gross margin remained steady at 19%, while the EBIT margin increased from 9.5% to 10%;
* Net profit declined 2.7 times to 224.7bln UZS;
* Estimated P/B ratio at the level of 3,470 UZS per share - 0.4;
* Estimated P/E ratio at the level of 3,470 UZS per share - 15.5.

299

Avesta Investment Group - Uzbekistan

06 Nov, 06:00

VEON to launch AI-Powered Super App Hambi in Uzbekistan.

https://www.veon.com/newsroom/press-releases/veon-launches-ai-powered-super-app-hambi-in-uzbekistan

278

Avesta Investment Group - Uzbekistan

05 Nov, 12:00

Interview with Mr.Karen Srapionov, Managing Partner of Avesta Investment Group, about the Uzbek capital market.

https://youtu.be/5RnlwoybnJk

247

Avesta Investment Group - Uzbekistan

05 Nov, 12:00

Comments on the Uzbek capital market by Managing Partner of Avesta Investment Group, Mr.Karen Srapionov.

https://www.spot.uz/ru/2024/11/04/capital-market/

281

Avesta Investment Group - Uzbekistan

05 Nov, 10:00

Companies from China and UAE to build solid waste incinerators for $1.3bln. Over 4.7mln tons of waste will be processed annually.

https://www.spot.uz/ru/2024/11/04/waste-disposal/

249

Avesta Investment Group - Uzbekistan

05 Nov, 09:31

UzbekCoal JSC (UZIR) announced the results of 9M2024:
* Total assets increased by 1.3 times and reached 3.16 trln UZS;
* Total equity rose by around 5%, amounting 976bln UZS;
* Total liabilities expanded by 1.5 times and reached 2.18trln UZS;
* Revenue grew by 19% and reached 957.9bln UZS;
* COGS increased by 34% and reached 621.4bln UZS;
* EBIT decreased by 8.4% and equaled 166.6bln UZS;
* Net profit climbed by 3.6 times and estimated 23.15bln UZS;
* Estimated P/B ratio at the level of 8,790 UZS per share - 1.66
* Estimated P/E ratio at the level of 8,790 UZS per share – 20.10.

260

Avesta Investment Group - Uzbekistan

05 Nov, 09:01

Uzbekistan considering mastering China's experience in the construction of a nuclear power plant.

https://www.spot.uz/ru/2024/11/04/atomic-energy/

239

Avesta Investment Group - Uzbekistan

05 Nov, 07:30

Kvarts JSC (KVTS) announced non-audited results of 9M2024:
* Total assets decreased by 4.7% y-o-y and reached 737.1bln UZS;
* Total equity declined by 36.7% and reached 251.1bln UZS;
* Total liabilities increased by 28.9% and equaled 486bln UZS;
* Revenue decreased by 4.9% and amounted to 384.1bln UZS;
* COGS increased by 34% and equaled 378.7bln UZS;
* EBIT turned from 42.2bln UZS to negative 95.3bln UZS;
* Net loss increased by 33.3 times from 3.8bln UZS to 127.5bln UZS;
* Estimated P/B ratio at the level of 990 UZS per share - 0.38.

265

Avesta Investment Group - Uzbekistan

26 Oct, 05:01

Weekend reading: Zaha Hadid Architects Reveals Design for New Scientific Research Centre in Tashkent, Uzbekistan.

https://www.archdaily.com/1022370/zaha-hadid-architects-reveals-design-for-new-scientific-research-centre-in-tashkent-uzbekistan

Avesta Investment Group - Uzbekistan

25 Oct, 11:30

Biokimyo JSC (BIOK) announced non-audited results for 9M2024:

* Total assets increased by 59.6% y-o-y and reached 137.9bln UZS;
* Total equity reached 107.2bln UZS, an increase by a 30.5%;
* Total liabilities increased by 7.2 times and equaled 30.7bln UZS;
* Revenue decreased by 10.3% and amounted to 179.6bln UZS;
* COGS declined by 9.6% and equaled 132.9bln UZS;
* EBIT went down by 17.8% to 33.3bln UZS;
* Net profit decreased by 16.5% and amounted to 28bln UZS with a 15.6% margin;
* Estimated P/B ratio at the level of 20,000 UZS per share - 1.1;
* Estimated P/E ratio at the level of 20,000 UZS per share - 5.3.

190

Avesta Investment Group - Uzbekistan

25 Oct, 11:00

Yandex Uzbekistan to acquire part of Express24 assets, companies will create a unified technological platform for food delivery.

https://www.gazeta.uz/ru/2024/10/25/yandex-express24/

208

Avesta Investment Group - Uzbekistan

25 Oct, 08:00

Deadline for application for URTS shares SPO prolonged until November 8th.

https://davaktiv.uz/en/news/halchil-ipo-dasturi-doirasida-zrthb-aktsijalarini-ommavij-zhojlashtirish-zharaeni-trisida-ahborot

214

Avesta Investment Group - Uzbekistan

25 Oct, 05:00

Banking NPL in September remained the same at 4.2%. NPL for state-owned banks decreased from 4.2% to 4.1%, while for private increased from 4.1% to 4.4%.

https://cbu.uz/ru/statistics/bankstats/1923843/

226

Avesta Investment Group - Uzbekistan

24 Oct, 11:00

Uzbekneftegaz JSC (UZNG) considering new eurobonds issue.

https://www.spot.uz/ru/2024/10/24/uzbekneftegaz/

240

Avesta Investment Group - Uzbekistan

24 Oct, 10:30

Uzpromstroybank JSCB (SQBN) announced the results of 9M2024:
* Total assets rose by 16% y-o-y and exceeded 84.2trln UZS;
* Total liabilities increased 1.17 times to 74.7trln UZS;
* Shareholders equity grew by 13% and equaled 9.5trln UZS;
* Net interest dropped by 3% and reached 220.4bln UZS;
* Net fee and commission income decreased by 2.3% and achieved 210.4bln UZS;
* Net profit rose by 35.8% and amounted to 801.6bln UZS;
* Estimated P/B ratio at the level of 9.98 UZS per share – 0.25;
* Estimated P/E ratio at the level of 9.98 UZS per share – 2.27.

239

Avesta Investment Group - Uzbekistan

24 Oct, 10:01

Fruit and vegetable exports from Uzbekistan rose by 25.8% in 9M2024.

https://www.freshplaza.com/asia/article/9670801/uzbekistan-s-fruit-and-veg-exports-surge-by-25-8-from-the-beginning-of-the-year/

231

Avesta Investment Group - Uzbekistan

24 Oct, 09:31

Ipoteka-bank JSCMB (IPTB) announced the results of 9M2024:
* Total assets grew by 14.3% y-o-y and reached 51.2trln UZS;
* Total liabilities increased by 1.13 times up to 43.41trln UZS;
* Shareholders equity rose by 22% and equaled to 7.77trln UZS;
* Net interest income grew by 91%, but remained negative at -38.4bln UZS;
* Net fee and commission income declined by 13.2% and equaled to 216.5bln UZS;
* Net profit dropped by 58.6% and amounted to 189.3bln UZS;
* Estimated P/B ratio at the level of 1.58 UZS per share – 0.78.

227

Avesta Investment Group - Uzbekistan

24 Oct, 09:01

In 9M2024, total monetary supply (M2) amounted to 256trln UZS, an increase of 26.7% y-o-y. Cash turnover (M0) rose by 10.4% to 53trln UZS. Cash in circulation decreased from 23.9% to 20.7%.

https://www.gazeta.uz/ru/2024/10/23/money-turnover/

218

Avesta Investment Group - Uzbekistan

24 Oct, 07:30

Hamkorbank JSCB (HMKB) announced the results of 9M2024:
* Total assets grew by 33.5 % y-o-y and reached 26.5trln UZS;
* Total liabilities increased by 1.33 times up to 21.69trln UZS;
* Shareholders equity rose by 37.7% and equaled to 4.78trln UZS;
* Net interest income grew by 1.22 times and amounted 1.42trln UZS;
* Net fee and commission income increased by 17.5% and equaled to 400.2bln UZS;
* Net profit grew by 13.8% and amounted to 1.04trln UZS;
* Estimated P/B ratio at the level of 24.89 UZS per share – 0.65;
* Estimated P/E ratio at the level of 24.89 UZS per share – 2.33.

223

Avesta Investment Group - Uzbekistan

24 Oct, 07:00

Share of UzAuto Motors JSC (UZMT) in automotive market reached 84% for 2023. Number of imported cars grew by 1.4 times.

https://www.spot.uz/ru/2024/10/23/kpmg-analyzes/

227

Avesta Investment Group - Uzbekistan

24 Oct, 06:00

Foreign investments to Uzbekistan reached more than $78bln in the last seven years.

https://daryo.uz/en/2024/10/23/uzbekistan-attracts-over-78bn-in-foreign-investments-in-past-seven-years

216

Avesta Investment Group - Uzbekistan

24 Oct, 05:01

Number of self-employed people increased by almost 87% for the last year. Simplification of the registration and tax reporting procedures for such workers becoming one of the efficient ways on combating shadow economy and increasing transparency of the economy.

https://www.spot.uz/ru/2024/10/23/self-employment

228

Avesta Investment Group - Uzbekistan

23 Oct, 10:00

Brief interview with Mr. Eugene Antonov, Navoi Mining JSC's (NGMK) First Deputy CEO for transformation, on recent Eurobonds issuance.

https://www.intellinews.com/nmmc-takes-uzbekistan-s-gold-mining-industry-to-the-global-stage-349304/

261

Avesta Investment Group - Uzbekistan

23 Oct, 09:02

WB updated the GDP growth forecast for Uzbekistan to 6% for 2024 and 5.8% for 2025.

https://www.vsemirnyjbank.org/ru/news/press-release/2024/10/17/europe-and-central-asia-economic-stability-amidst-sluggish-growth

241

Avesta Investment Group - Uzbekistan

23 Oct, 07:01

In 1H2024, the supply of foreign currency exceeded the demand, volume of foreign currency purchases by banks from the population increased by almost a third to $7.2bln.

https://www.spot.uz/ru/2024/10/21/dollar-cb/

232

Avesta Investment Group - Uzbekistan

23 Oct, 06:01

Volume of electric generation from renewable energy sources has reached 4bln kWh since the beginning of the year. Currently, Uzbekistan has nine photovoltaic power plants and one wind farm with a combined capacity of 2.7 GW in operation.

https://www.spot.uz/ru/2024/10/21/green-electricity/

219

Avesta Investment Group - Uzbekistan

23 Oct, 05:01

Foreign trade turnover for 9M2024 increased by 7.7% y-o-y and reached $48bln. Uzbekistan exported gold worth $806.1mln in September.

https://www.spot.uz/ru/2024/10/21/foreign-trade/

221

Avesta Investment Group - Uzbekistan

22 Oct, 12:01

CBU survey: Geopolitical tensions and currency fluctuations pose major risks to Uzbekistan’s financial stability.

https://kun.uz/en/news/2024/10/19/geopolitical-tensions-and-currency-fluctuations-pose-major-risks-to-uzbekistans-financial-stability

250

Avesta Investment Group - Uzbekistan

22 Oct, 11:01

Eight solid waste incinerators will be constructed in Uzbekistan. 14mln tons of waste are generated annually, but only 4-5% of the volume is recycled.

https://www.gazeta.uz/ru/2024/10/21/waste-incineration-plant/

243

Avesta Investment Group - Uzbekistan

22 Oct, 10:00

Landesbank Baden-Wüerttemberg to provide 20mln EUR to Kapitalbank JSC (KPBA) to support entrepreneurs with key tools for successful international trade between Uzbekistan and EU countries.

https://www.gazeta.uz/ru/2024/10/21/kapitalbank/

246

Avesta Investment Group - Uzbekistan

22 Oct, 09:00

GDP of Uzbekistan to reach $200bln UZS by 2030.

https://www.spot.uz/ru/2024/10/18/gdp-upgrade/

178

Avesta Investment Group - Uzbekistan

22 Oct, 07:02

UzSAMA privatized two more flour-milling plants. 93.5% share in "Qiziltepa un zavodi" JSC was sold for 17.4bln UZS and 94.4% share in "Jizzakh don mahsulotlari" JSC was sold for 40.8bln UZS.

https://www.spot.uz/ru/2024/10/17/grain-privatize/

196

Avesta Investment Group - Uzbekistan

22 Oct, 06:02

Alif attracted $5mln from UK-based Islamic VC fund Cur8 Capital.

https://www.spot.uz/ru/2024/10/21/alif-cur8/

201

Avesta Investment Group - Uzbekistan

22 Oct, 05:30

UzRTSB JSC (URTS) announced non-audited results for 9M2024:

* Total assets increased by 2.6% and reached 4.3trln UZS;
* Total equity rose by 35.1% and equaled 353.2bln UZS;
* Total liabilities increased by 0.5% and reached 3.9trln UZS;
* Revenue grew by 11.7% and amounted to 311.2bln UZS;
* COGS increased by 29.6% and reached 35bln UZS;
* EBIT increased by 0.2% and equaled 165.3bln UZS;
* Net profit increased by 42.3% and amounted to 227.2bln UZS;
* Estimated P/B ratio at the level 15,398 of UZS per share - 3.3;
* Estimated P/E ratio at the level of 15,398 UZS per share - 3.9.

210

Avesta Investment Group - Uzbekistan

22 Oct, 05:00

South Korean Ecofarm Global to construct "Namangan" FEZ logistics center and implement investment projects for $55mln.

https://www.spot.uz/ru/2024/10/19/ecofarm/

209

Avesta Investment Group - Uzbekistan

21 Oct, 12:02

Third fertilizer plant of Ifoda Agro Kimyo Himoya opened in Namangan, USAID provided the plant with equipment for $460k.

https://www.spot.uz/ru/2024/10/16/usaid-ifoda/

223

Avesta Investment Group - Uzbekistan

21 Oct, 11:02

According to the Central Bank's analytics,the real estate market in Uzbekistan continues to be overheated. In 1H2024, housing prices were 28% above their fundamental value. Additionally, the rate at which prices are increasing is 1.8 times greater than the pace of salary growth, indicating a potential future decline in housing market prices.

https://www.gazeta.uz/ru/2024/10/16/real-estate/

230

Avesta Investment Group - Uzbekistan

21 Oct, 10:01

Chinese FAW to build a truck factory for $100mln in Andijan region.

https://www.spot.uz/ru/2024/10/19/faw-plant/

228

Avesta Investment Group - Uzbekistan

21 Oct, 09:01

Overview of the trading results at the Tashkent Stock Exchange for 9M2024.

222

Avesta Investment Group - Uzbekistan

21 Oct, 07:01

GDP of Uzbekistan grew by 6.6% in 9M2024.

https://stat.uz/ru/press-tsentr/novosti-goskomstata/57490-2023-yilning-yanvar-noyabr-oylarida-o-zbekiston-respublikasi-iqtisodiy-holati-10

246

Avesta Investment Group - Uzbekistan

21 Oct, 06:00

A weekly digest of news and overview of stock exchange trading results.

239

Avesta Investment Group - Uzbekistan

19 Oct, 06:01

Weekend reading: Silk Roads at the British Museum and Asian Bronze at the Rijksmuseum — rewriting art history.

https://www.ft.com/content/c6597cd1-76e3-4bb9-97eb-323a819be938

293

Avesta Investment Group - Uzbekistan

19 Oct, 05:01

Weekend reading: From Uzbek disco to Uighur rock: Forgotten sounds of the Silk Road.

https://www.aljazeera.com/features/2024/10/12/from-uzbek-disco-to-uighur-rock-forgotten-sounds-of-the-silk-road

301

Avesta Investment Group - Uzbekistan

18 Oct, 12:01

IT startups will receive support from government in the form of investments of up to $100k, reimbursement of costs for patent registration, trademark and funding for participation in international accelerators.

https://www.spot.uz/ru/2024/10/16/startup-program/

301