Business & Economy - The Times Of Central Asia

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Cybersecurity

Uzbekistan’s Cerberus Wins Road to TechCrunch Regional Final

Uzbek startup Cerberus has won the regional final of Road to TechCrunch Startup Battlefield 2026, earning a ticket to San Francisco. For Uzbekistan’s young technology industry, the result is another sign of its push beyond the domestic market. For Cerberus, the challenge is now to convince international investors and clients that an AI tool developed in Tashkent to find vulnerabilities can compete in the global cybersecurity market. Cerberus took first place in the regional final on August 12. WeGlobal AI finished second, followed by LOOQ. Twenty-two startups reached the final after being selected from 726 applications from 39 countries. Uzbekistan was represented by six projects. The three winners will represent Central Eurasia at Startup Battlefield 200 in San Francisco. TechCrunch Disrupt 2026 will run from October 13 to 15. Twenty of the 200 companies will be selected to pitch on the main stage, with five advancing to the final round to compete for the $100,000 equity-free grand prize and the Disrupt Cup. The three regional winners will share a $100,000 investment pool, with Cerberus receiving $50,000. Competition rules state that each investment will be made on standard market terms in exchange for equity. Astana Hub Ventures and IT Park Ventures are providing the funding in partnership with Silkroad Innovation Hub. According to the organizers, the winners will also receive a combined $100,000 in OpenAI API credits. Cerberus founder and CEO Aziz Akhmedkhodjaev told The Times of Central Asia that two factors were behind the company’s success: the product and the team’s ability to explain the problem it solves. “I would say there are two main things here. The first, of course, is the product. Everyone understood that we had created something the market really needs,” he said. “I think that was the key to winning. I didn’t spend a single second of the pitch on anything other than clearly explaining the problem, how the solution works, and its potential.” Cerberus describes its product as an AI-powered cybersecurity system capable of finding vulnerabilities in corporate applications and IT infrastructure. Demand for such tools is growing alongside the spread of generative AI: companies and individual developers can write software faster, but the volume of code that needs to be checked for errors and potential attack vectors is also increasing. “Literally everyone is writing code with artificial intelligence now. Vulnerabilities, coding errors, and other weaknesses are appearing much faster,” Akhmedkhodjaev said. The company says Cerberus allows users to give its AI agent access to an application or IT infrastructure and task it with finding vulnerabilities. The agent can also test authentication and perform other security checks. According to Akhmedkhodjaev, however, using a general-purpose AI model for such work can itself create risks. “If you give Claude or another AI access to a vulnerability in a real bank, even the smallest mistake can lead to serious financial losses,” he said. The company says Cerberus is designed to restrict what its AI agent can do after identifying a weakness. “In our project, there is a...

Sanctions

Kyrgyzstan Sanctions Risks Reshape Business

Kyrgyzstan is stepping up action against companies that could expose its banks and wider economy to Western sanctions. On August 18, the authorities moved to forcibly liquidate another 19 legal entities, while major banks are closing the accounts of dozens of clients deemed too risky. Bishkek has not formally joined Western sanctions against Russia, but those restrictions are increasingly determining whom Kyrgyz businesses can work with and which banks they can use to move money. The names of the 19 companies have not yet been disclosed. The authorities stated that they were selected after reviewing around 40 organizations considered to pose heightened sanctions risks. This is not the first such move. In May, the authorities ordered 50 businesses to cease operations after sanctions risks were identified. Their full names were not made public either. First Deputy Chairman of the Cabinet of Ministers Daniyar Amangeldiev said at the time that Western partners provide information about suspicious companies, which Kyrgyz authorities then investigate. He warned that sanctions against Kyrgyzstan itself could disrupt international payments and access to technology. How the Pressure Built Western scrutiny of Kyrgyz companies began well before the current cleanup. In the summer of 2023, the U.S. Treasury Department sanctioned four companies registered in Kyrgyzstan: RM Design and Development, Progress Lider, GTME Tekhnologii, and Cargoline. Washington said they had supplied Russia with electronics and other restricted goods, while Cargoline had shipped millions of dollars’ worth of foreign-made aviation equipment. The focus later expanded from goods to financial networks. In January 2025, the U.S. Treasury sanctioned Keremet Bank, saying it had coordinated with Russian officials and sanctioned lender Promsvyazbank on a scheme to facilitate cross-border transfers. In practice, U.S. sanctions severely restrict a bank’s ability to deal with American companies or use the U.S. financial system. Within days of Keremet Bank’s designation, Visa restricted cards issued by the bank so that they could be used only through Keremet’s own ATMs and payment terminals. In August 2025, the United Kingdom imposed sanctions on Grinex, Tengricoin, Old Vector, and Capital Bank of Central Asia as part of a crackdown on financial and cryptocurrency networks that London said Russia was using to circumvent Western restrictions. By early 2026, however, the risk was beginning to shift from sanctions against individual Kyrgyz companies and banks to restrictions affecting the country as a whole. During a February meeting with EU Sanctions Envoy David O’Sullivan, Amangeldiev discussed financial monitoring, sanctions risks, and greater transparency in foreign trade rather than Kyrgyzstan adopting EU sanctions itself. Bishkek was effectively trying to show that it could tackle sanctions evasion without joining the EU sanctions regime. The prospect of broader measures was already worrying businesses. Askar Sydykov, head of Kyrgyzstan’s International Business Council, said reports that the EU could use its anti-circumvention mechanism against the country were causing serious concern among businesses and government agencies. Those efforts were not enough to prevent broader action. In April, the EU used its anti-circumvention mechanism against Kyrgyzstan for the first time, prohibiting exports to...

Digital Finance

Opinion: Tajikistan’s Digital Finance Boom Faces Its Next Challenge – Keeping Money Digital

Tajikistan’s e-wallet numbers are striking. As of June 30, 2026, 28 credit financial institutions reported 19.8 million electronic wallets, up 25.9% from a year earlier. In the first half of 2026, e-wallets were used for 14.6 million non-cash transactions worth 3.6 billion somoni. But those figures should not be read as if 19.8 million people are actively using wallets. The National Bank of Tajikistan’s published aggregate data do not state how many wallets belong to unique users or how many are active. Nor do they show how usage is distributed among them. Without that denominator, the headline figure tells us much less about actual use. Tajikistan has clearly expanded digital access. It now needs a clearer picture of usage and stronger reasons for people and businesses to keep money inside the digital system. I call this the shift from digital access to digital retention. The headline number is 19.8 million wallets out of an official population of 10.721 million as of January 1, 2026. The more useful number would be how many are meaningfully active. Do Not Confuse Registration With Usage A registered wallet is an access point, not proof of financial behavior. One person may hold several wallets, and some may sit dormant. Usage may also be concentrated among a smaller group of frequent users. Without active-wallet and unique-user data, none of those possibilities should be assumed as fact. What we can say is that non-cash activity is growing. The National Bank reports that cashless payments for goods and services made with electronic payment instruments reached 41% in the first half of 2026, 13 percentage points higher than a year earlier. It also reports 9,425 POS terminals at trade and service points and 33,620 QR codes. That 41% figure covers electronic payment instruments, including bank cards and e-wallets. It is not an e-wallet usage rate. To understand how wallets are actually being used, Tajikistan needs a clearer view of active wallets, transaction frequency, and what happens to money after it enters a digital account. Trust Is Part of the Infrastructure For many people, the move from cash to bank cards was already a significant behavioral change. They learned to trust money represented by a balance on a screen rather than notes in a hand. Wallets, QR payments and app-based financial services require another layer of trust. Users need to know where their money is and whether a payment went through. They also need a clear route when something goes wrong. Fees should be easy to understand. This is why simplicity is part of financial trust, not merely user experience. Tajikistan’s Financial Literacy Program for 2026–2030 makes the same connection at a policy level. It links financial literacy and consumer protection with public confidence as digital financial services expand. A good digital-finance service should be usable by ordinary people without making money feel harder to understand. Users should not need fintech expertise to trust the product. Merchants Need a Reason Not to Cash Out Consumers are only one part of...

Fuel Supply

Kyrgyzstan Turns to China as Russian Fuel Supplies Falter

Kyrgyzstan, which has depended almost entirely on Russian fuel for years, is accelerating its search for alternative suppliers. On August 17, the authorities began direct talks with China’s Sinopec. The search has become more urgent as Russian supplies have grown less reliable and gasoline prices in Bishkek have risen. Some filling stations have also periodically run out of AI-95 gasoline. Erlist Akunbekov, Kyrgyzstan’s deputy chairman of the Cabinet of Ministers, met with executives from China Petroleum & Chemical Corporation (Sinopec) in Urumqi on August 17. Representatives of more than ten Kyrgyz oil-sector companies traveled to China with him. The sides discussed direct supplies of petroleum products, including transportation and customs clearance. “Kyrgyzstan is interested in increasing supplies of petroleum products from China. This area has great potential and, I believe, represents a long-term direction for trade and economic cooperation between our countries,” Akunbekov said during the meeting. Until recently, Bishkek had little reason to change the established arrangement. Russia is relatively close and supplies petroleum products to Kyrgyzstan duty-free under agreed indicative balances within the Eurasian Economic Union. Russian fuel accounts for more than 90% of Kyrgyzstan’s imported petroleum products. From January through May 2026, Russia supplied more than 251,000 tons of gasoline and 235,150 tons of diesel fuel. Jet fuel deliveries reached 48,150 tons. But the reliability of this model has come into question amid problems at Russian refineries. Ukrainian drone strikes and refinery maintenance have reduced available supplies. Seasonal demand and export restrictions have added further pressure, while renewed attacks in late July and early August worsened the situation. By mid-August, restrictions on fuel sales were in place in at least ten Russian regions, while gasoline sales on the St. Petersburg International Mercantile Exchange had fallen by about 20% since the beginning of the month. Particularly significant for Central Asia was the strike on the Orsk refinery in Russia’s Orenburg region, near the border with Kazakhstan. The refinery, with an annual processing capacity of about 6 million tons, halted operations after an August 11 attack. Regional authorities have said repairs could take up to six months. For Kyrgyzstan, problems in Russia quickly show up at the pump. In May, a liter of AI-92 gasoline in Bishkek cost an average of 78.4 soms, or about $0.90. By August 17, the price of the country’s most popular gasoline grade had reached 87.9 soms, about $1 per liter. AI-95 was selling for 109.9 soms, about $1.25, while diesel cost 99.9 soms, about $1.14 per liter. Some filling stations have been unable to offer AI-95, while others have temporarily stopped operating. The government initially introduced price controls in late May, then partially rolled them back in July as maintaining fixed prices became increasingly difficult amid rising import costs. The search for alternatives began before the latest meeting with Sinopec. Kyrgyzstan has held talks with Kazakhstan and Belarus, while separate discussions have involved Uzbekistan. Azerbaijan and Turkmenistan have also been approached. Agreements have already been reached with Belarus for supplies of diesel and...

AI Education

Kazakhstan Rolls Out AI Education From School to University

In the 2026-27 academic year, Kazakhstan’s first artificial intelligence university plans to enroll 600 students and trainees. AI use is also being expanded in schools, with a separate pilot planned for ten small rural schools. Kazakhstan is therefore trying to build its AI talent pipeline from both ends of the education system. Science and Higher Education Minister Sayasat Nurbek announced the first intake at Qazaq AI Research University (QAIRU) during a government meeting. Nurbek said 400 students would be admitted to bachelor’s programs, including 308 on state grants, while another 100 would join master’s programs. “In addition, the Samruk-Kazyna sovereign wealth fund will send 100 of its employees to study under the MBA AI+X program,” he said. QAIRU is located in Astana on the former EXPO 2017 site, alongside Astana Hub and the Alem.ai cluster. The university says it intends to train engineers capable of building their own AI systems rather than simply using existing AI services. Its bachelor’s program lasts three years and is taught entirely in English. Education is based on the AI+X model, combining artificial intelligence with specific disciplines and industries, including healthcare and energy. The university was first proposed while the project was still being developed. Other parts of higher education are also changing. According to Nurbek, Unified National Testing (UNT) certificates are already available through eGov, and AI proctoring is in use. The National Testing Center has also launched AI-Talapker, a chatbot that answers questions about the UNT and university admissions. Key information on students and graduates is also being consolidated on the Unified Higher Education Platform. “The next stage is the introduction of artificial intelligence-based solutions into the educational process,” Nurbek said. He said these would be used for admissions and to support personalized learning and career guidance. In schools, students will encounter AI earlier in their education. Education Minister Zhuldyz Suleimenova told the same government meeting that artificial intelligence technologies will become part of the educational process in the new academic year. “One of the features of the new academic year will be the use and study of artificial intelligence technologies in schools,” Suleimenova said. AI content will be added to the existing digital literacy and computer science curricula. Separately, the government has decided to test AI tools in rural schools, where opportunities to teach individual subjects are often more limited than in large cities. The pilot will begin on September 1 in ten small schools in the Pavlodar and Kyzylorda regions, with instruction in Kazakh and Russian. AI solutions will be tested in fourth-grade classes covering mathematics, digital literacy, the native language, and AI. The pilot will expand to 50 schools in November, and another 300 schools are scheduled to join in January 2027. The pilot phase is expected to cover 500 small rural schools. Officials have assessed internet speeds and computer availability, along with staffing capacity and schools’ readiness to introduce AI solutions. More than 350,000 teachers have already received training in the use of AI in education. For rural Kazakhstan, this part of the program...

Camel Farming

Camel Farming Expands Across Central Asia as Climate Pressures Mount

Camels are gaining renewed economic importance in Central Asia as farmers seek new markets for their milk and governments look for livestock better suited to increasingly dry conditions. In Kazakhstan, camel numbers are rising and producers are developing markets for shubat, a fermented camel milk drink, and powdered camel milk. Uzbekistan, meanwhile, has begun working with the Food and Agriculture Organization of the United Nations (FAO) to develop camel husbandry in arid areas. Kazakhstan has more than 322,000 camels, according to government figures for 2026, an increase of 2.4% from the previous year. Most are raised in the vast arid lands in the west and south of the country. Camels are also an important part of Turkmenistan’s livestock sector. The herd numbered about 345,000 animals in 2020. Bactrian camels have traditionally dominated Kazakhstan’s camel herd. They can withstand sharp fluctuations between extreme heat and severe cold. Over the past two decades, Kazakhstan has also seen an increase in one-humped Arvana camels, a breed of Turkmen origin known for high milk productivity. In Turkmenistan, the Arvana is the mainstay of the industry. These camels can produce milk even when grazing on sparse desert pastures, feeding on salt-tolerant vegetation and bitter wormwood that are of little use to many other types of livestock. Milk Brings in the Money Milk offers camel farmers a product that can be sold throughout the year and increasingly processed into higher-value goods. A female Kazakh Bactrian camel can produce up to about 1,750 liters of milk annually, although yields vary considerably between breeds and farming systems. The main product on the domestic market is shubat, but larger producers have also begun processing camel milk for markets far beyond the communities where it is produced. One of the most prominent examples is Daulet-Beket LLP in the Almaty region. When a camel-milk processing plant opened there in 2021, the farm had around 5,000 camels and was producing up to five tons of shubat a day. The plant was designed to produce as much as 30 tons of powdered camel milk a month, with products being shipped to Russia and China. Smaller farms show how strong local demand can also sustain the industry. The Suleymanov family in the Almaty region started with two camels. By the time they were profiled in 2021, their herd had grown to around 70 animals. Sixteen were being milked each day, producing 52 to 53 liters. The family said customers frequently bought their shubat before it even reached Almaty. Camel Farming in Turkmenistan Turkmen state media has also highlighted privately run camel farms. A 2024 report said farmer Serdarkuli Berdyliev in Ahal province kept 320 camels, including 140 females. Average milk yields were around six liters a day. Information about private agriculture in Turkmenistan largely comes through tightly controlled state media. Camel milk production continues to feature in official coverage alongside the country’s long-established herding traditions. Camel wool remains a marketable product, although its market is much smaller than that for milk. In Turkmenistan, it...