Uzbekistan - The Times Of Central Asia

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Finance Investments Export/Import Economy Uzbekistan Industry Gold mining in central asia

Uzbekistan’s Reserves Reach $37.4 billion

As of August 1, Uzbekistan's official reserves reached $37.4 billion, 1.06 billion dollars more than a month ago, according to a Kun.uz report based on data from the Central Bank of the Republic of Uzbekistan. This reserve value is a record indicator for the period after 2018 when data disclosure began. Still, $37.4 billion is enough to cover 12 months of imports. The increase in the value of international reserves is mainly due to the continued rise in gold reserves and prices. The physical volume of gold in reserves increased by 310,000 ounces (9.64 tons) to 12.05 million ounces (374.8 tons), and the value reached $29.15 billion (+$1.84 billion). According to the Central Bank, the impact of the increase in the price of gold from $2,327.6 to $2,419.6 in July amounted to $1.11 billion. In July, foreign currency assets decreased by $781.5 million to $7.69 billion and since the beginning of the year, have declined by $1.68 billion, partly affected by the extinguishment of the sovereign Eurobonds issued in 2019, worth $500 million. The value of securities purchased by the Central Bank was 35.3 million dollars.

Tourism Security Economy Uzbekistan Social UNESCO Bukhara

Uzbekistan: Bukhara Administration Denies Relocation of “Eternal Bukhara”

Previously, The Times of Central Asia reported in an article titled "Land Cleared for Tourism next to Old Bukhara; UNESCO Urges Pause" that the construction of "Eternal Bukhara," a tourist facility in the Bukhara region of Uzbekistan, had sparked protests from locals and UNESCO alike. Recently, rumors spread on social media claiming that the "Eternal Bukhara" project is proceeding on the city's outskirts despite public objections. However, the Bukhara city administration has now provided official information to clarify the situation. According to the regional administration, these reports are false. They assert that the construction of the cultural ethnographic park "Eternal Bukhara" is progressing systematically. Most of the old and dilapidated buildings in the area have been dismantled, and the construction site is now 90% ready. Additionally, the Bukhara regional administration have stated that previous dismantling work was completed without affecting the population or surrounding structures, whilst adhering to technical safety regulations. Nearly 70% of the work has reportedly already been completed. The administration also noted that the project documents for "Eternal Bukhara" are being finalized in collaboration with renowned historians, scientists, cultural heritage experts, and international project organizations.

Saudi Arabia Social Uzbekistan Central Asia Culture Investments Education

Saudi Al Faris International Proposes to Open Schools in Uzbekistan

According to the Dunyo news agency, Uzbekistan's ambassador to Saudi Arabia Nodirjon Turgunov met with the chairman of the education company Al Faris International, Osama bin Salih, to discuss introducing Al Faris schools to Uzbekistan. Al Faris schools are among the best in Saudi Arabia, and operate to the international IBO standard. Bin Salih commented: “We are ready to establish international schools based on one hundred percent of our own capital or with Uzbek partners. In these schools, education is provided in accordance with international standards, studies are conducted on the basis of strict requirements of foreign and local languages. In addition, preschool educational institutions will be established, where children under the age of six will be given intensive lessons in preparation for primary school."

Culture Social Uzbekistan Central Asia Tourism

Healing Properties of Uzbekistan’s Chashma Spring Draw Curious Tourists

It’s Sunday morning, and a nice breeze is blowing. Due to favorable weather, many people are paying a visit to the Chashma complex in Nurota, in the Navoi region of Uzbekistan. The complex is one of the most visited holy places by Central Asian Muslims, and thousands of tourists from all over the world flock here every year. The Times of Central Asia decided to see how popular the tourist spot is. This historical complex includes the Chilustun Mosque, the Chashma Spring, the Panjab (Beshpanja) Well, the Panjvaqta Mosque, and Sheikh Abul Husan Nuri Mausoleum. The people of Nurota district mainly speak Tajik, in which the word Chashma means "holy spring." In the 9th century, the Chilustun Mosque was built at Chashma; it was rebuilt in the 16th century during the rule of Amir Timur. The mosque, erected near the holy spring, has a dome-shaped sundial with cylindrical windows, which sits in the heart of the mosque. In addition, the art of wood carving and other examples of Central Asian national decoration were skillfully used in the construction of the mosque. Panjvaqta Mosque is located next to Chilustun. This mosque was built between 1570 and 1582 upon orders from Abdullah Khan II, the Emir of Bukhara. Today, the building consists of a large dome with two-sided porticos. All of its columns are made of mulberry and elm wood, and the base is made of marble. The main focus of visitors is the Chashma Spring. Local resident, Zilola Safarova has said that 40,000 years ago, a meteorite fell from the sky in this place and radiated light for a hundred days. As a result of the meteorite, a crater was formed and a holy spring with healing properties appeared. The people of Nurota believe this legend, and many are of the opinion that the name Nurota is related to this event. Chashma's water flows through thousands of kilometers of underground passages at a rate of 290 liters per second, and the temperature of its water remains constant in all seasons of the year at 19.5° Celsius. The spring's highest recorded flow rate was 400 liters per second. Furthermore, Chashma's water is said to have healing properties. It was found that it contains trace amounts of gold, which is said to be a cure for gastrointestinal diseases. It has long been known that iodine in water is a cure for goiters, and rare bromine is known as a cure for nervous disorders. Meanwhile, silver contained in the water ensures that its mineral composition is well preserved. Microbiologists say that this holy water contains 15 useful trace elements which have the ability to calm a person and may have a positive effect on the body. If one pays attention to the entire picture here, there are fish in the Chashma, which are called river marinka. These fish have an average lifespan of 17 years, and clean the streams from which spring water emerges out of sand. That sand ensures a moderate flow...

Kazakhstan Water Disputes Social Legislation Uzbekistan Economy Agriculture

Favorable Water Volumes Forecast for Uzbekistan’s Amu Darya and Syr Darya Rivers

According to the news agency UzA, Uzbekistan's Minister of Water Management Shavkat Hamroyev told a parliamentary hearing that watersheds from the Amu Darya and Syr Darya rivers are forecast as favorable this year. The announcement was made in response to Muqaddas Tirkasheva, a member of the lower house of parliament, who inquired, "water limits are agreed with Central Asian countries every year. Today, when we meet with voters, they often refer to the water shortage. There are concerns about whether the construction of the Qosh Tepa canal will affect the water of Amu Darya. How does this year's forecast volume of water in the Amu Darya, Syr Darya, Zarafshan rivers compare to previous years? What measures are being taken to ensure guaranteed water supply to economic sectors?” Minister Hamroyev continued, "there are agreements among five countries regarding water allocations. Our recent meeting in Shymkent addressed reservoir water levels. Due to this year's precipitation, it's anticipated that water levels in the Amu Darya and Syr Darya rivers will match last year's levels. Projections suggest 85–90% water in the Syr Darya and 90–95% in the Amu Darya compared to historical averages. Our reservoirs currently hold 1.5 billion cubic meters more water than last year."

Women's rights Domestic Violence Social Legislation Uzbekistan Central Asia

Uzbek Businesswoman Diora Usmanova Recounts Own History of Marital Violence

Diora Usmanova, the owner of two restaurants and some clothing brands in Uzbekistan, has spoken on her Instagram page about the beatings she suffered from her first husband, Babur Usmanov, who was the nephew of the billionaire Alisher Usmanov. Usmanova herself is related to Ziroatkhon Mirziyoyeva, the wife of Uzbek president Shavkat Mirziyoyev. Usmanova wrote that the story could cause her harm, but that she believes the benefits will "outweigh the risks a hundredfold" and will "change perceptions or somehow affect women who endure domestic violence and abuse," Gazeta.uz reported. "We loved each other and fought very hard for our marriage. Subsequently, when he started to raise his hand against me and when these beatings went on, and the beatings continued for four years, there were concussions, and a lot of blood, and bruises, and [my] whole body in bruises, and a lot of broken furniture, doors, everything," she said. Domestic violence is not only the man's fault, but also the woman's, Usmanova said. "We don't value ourselves enough, we're not brave enough, we're not strong enough, we're afraid to give a backhand, we're afraid to tell our parents, we're afraid to go back to our parents, we're afraid to start everything again. For the fact that we hope that it will change, that it will [bear] some good fruits in the future, that it will survive -- this is all our problem," Usmanova said. In her opinion, women should terminate harmful relationships and find the strength to leave -- and most importantly, learn to respect themselves. "You have to leave such relationships. [That's] because of the fact that you forgive once, forgive the second time, and then it becomes a habit, a person realizes that it is forgiven, it can end very badly, [a] whole life just poisoned. I did not find the strength then, and now after 10 years, I look back and realize how many mistakes were made on my part and how much is my fault. Just like [it was] his," she stated. On May 8, 2013, Babur Usmanov was involved in a fatal car accident in Tashkent. In 2016, Usmanova married businessman Batyr Rakhimov.