April 25, 2014
Press-service of MFA of the Republic of Uzbekistan
Uzbekistan continues to implement the policy on the introduction of modern technologies in the oil and gas sector. Every year, the National Holding Company Uzbekneftegaz puts facilities into operation across the country to expand and enhance the volume of the resulting fossil fuels.
This strategy has long proved its effectiveness. The republic not only supplies gas to the domestic market, but also is actively boosting export niches. New fields are being developed across the country to ensure uninterrupted gas population, even in remote areas laid pipelines. Until the end of this year Uzbekneftegas plans to launch two booster compressor stations in the fields Shurtan and Alan.
The total project cost for the Shurtan field’s additional construction exceeds US$309m. It provides drilling of 18 wells and overhaul of another 16. Works are underway to extend the current data collection and transportation of natural gas to the construction of a booster station to conserve power of 9 billion cubic meters of “blue fuel” annually. The Uzbek side has already held tendering and contract for the supply of basic technological equipment of more than US$177.7m.
Work will be financed by own funds of Uzbekneftegaz in the amount of US$96.5m, loans of the Fund for Reconstruction and Development of Uzbekistan for US$53.3m, and the Khalq Banki – US$70.5m. The company also plans to attract other commercial lines of credit banks, including foreign ones, totaling more than US$89m.
To additional construction of the Alan field will be directed over US$250m. Under the already running project it is planned to equip 27 wells, build a booster station capacity of 5 billion cubic meters of natural gas per year. Companies selected under tenders, supply of technological equipment for US$75.6m.
This project will fund all of the same lenders. The Fund for Reconstruction and Development of Uzbekistan and the Halq Bank to allocate US$53.49m and US$31.43m credit funds, respectively, and Uzbekneftegas will invest US$154.29m of its own funds. Another US$11m is to be drawn from local or foreign banks.
(Source: “Uzbekistan Today” newspaper)
Total assets of Uzbek banks have reached 44.1 trillion soums
The Central Bank of Uzbekistan held the Board’s enlarged meeting on the results of activities of the banking system in 2014 Q1, the execution of the economic program and priorities for 2014, defined by the President Islam Karimov at the Cabinet meeting in the beginning of the year, as well as to discuss the objectives set the banking system at the government meeting on April 18, 2014.
The system’s current level of capital adequacy ratio is 24.3%, which is 3 times higher than the requirements set by the Basel Committee on Banking Supervision (8%). Banks total capital, as of April 1, 2014, exceeded 6.5 trillion soums.
(Currency rates of CB from 25.04..2014 1$=2276.19soums)
For several years, the current liquidity level has exceeded the 65% level, which is 2 times higher than the generally accepted world norm.
Banks total assets compared to the same period last year increased by 29% and amounted to over 44.1 trillion soums.
In Q1, total volume of loans directed to the real sector of the economy increased by 31.2% compared to the same period last year, and currently it has reached 26.8 trillion soums.
The volume of loans for investment purposes, as compared with last year, increased by more than 1.2 times and as of April 1, 2013, amounted to over 2.1 trillion soums.
The volume of loans to small businesses increased by 1.3 times and as April 1 of 2014, amounted to 2.1 trillion soums , including the volume of micro-loans reached 444.2 billion soums, which is 1.3 times more than in the same period last year.
The volume of loans to support women-entrepreneurs increased by 1.8 times and amounted to over 240 billion soums.
Banks are also paying serious attention to involvement of graduates of vocational institutions in entrepreneurship, as well as financial support for their business projects. Thus, in the first quarter of the current year, loans worth 26.8 billion soums were allocated for this purpose, which is by 1.6 times more than in the corresponding period last year.
The stable state of Uzbek banks, their increasing credibility, as well as growth in real incomes have become a solid foundation for attracting free funds of households and economic entities in deposits. During the reporting period, total volume of deposits grew by 30.5%, and currently stands at more than 26.2 trillion soums.
In the analyzed period, the banks share in the structure of financial services was 88%, and compared with the same period in 2013 this figure increased by 1.3 times.
It should be noted that a number of measures for further development of cashless payments. Currently over 11.5 million cards are issued, with 134,615 pay points across the country.
However, during the meeting were criticized the activities of some commercial banks, which do not fully seize opportunities to expand services and increase customer confidence.
The meeting identified priority tasks to be executed in the first half of this year.
In particular, the heads of commercial banks were instructed with the task of implementing the most relevant points of the economic program for 2014, defined at the Cabinet of Ministers meeting on 18 January this year, namely, further improvement of commercial banks assessment system on the basis of international standards and principles, regulation and supervision, strengthening cooperation with international financial institutions, financial support of small business and entrepreneurship, expanding and improving the quality of banking services, accelerated use of new ICTs in the banking business.
Besides, the heads of the banks were instructed to unquestioningly execute tasks defined in the State program “Year of the Healthy Child”, including the creation of favorable business environment for development of business in all branches of the banks. Bankers were also prescribed to increase the amount of targeted investment loans.
Relevant decisions were taken, following the meeting.
(Source: “Бизнес-вестник Востока” newspaper)
Uzbek student creates mobile handset with transparent double-sided display
Student of Tashkent state technical university named after Abu Rayhan Beruni Sirojiddin Nasriddinov developed a mobile phone with transparent double-sided display.
New device has been presented at the Seventh National fair of innovative ideas, technologies and projects.
Mobile phone has original design. The body of the phone is made from shockproof glass. The transparency of display allows to show images from both sides.
The handset is based on modules, which can be replaced in future. It has sensor display and camera.
The mobile phone works from battery, which is charged from solar energy. The student already patented his invitation.
Yusuf Khas Hajib Balasaguni
(1016/18 – the end of the XI c.)
Scholar and lexicographer , poet and philosopher
Yusuf Khas Hajib was born in the capital city of Karakhanids Balasagun (now Kyrgyzstan) in the interval 1016-1018 gg. Facts about his biography is very scarce . What is known is that at age 50 in 1069/70 he completed his poem ” Kutadgu bilig ” (” Knowledge of Grace ” or “The Science of Happiness “), introduced her to the ruler of Kashgar , and was awarded the title ” Has Hajib ” – Minister of tsarist yard.
Main areas of research
Poem ” Kutadgu bilig ” – the only extant work Balasaguni Yusuf . The most complete of the known manuscripts of this poem is currently stored at the Institute of Oriental Studies of the Academy of Sciences of the Republic of Uzbekistan. Poem ” Kutadgu bilig ” contains bayts 6520 , divided into 85 chapters; moreover, it has three applications containing 124 bayt , divided into three chapters . For all its ethical and moralistic orientation poem Yusuf Balasaguni ” Kutadgu bilig ” is a philosophical work , which examines the meaning and value of human life , outlining the responsibilities and standards of behavior in society . Author of the poem shows how to be not only the rulers , but also the common people; what personal qualities they should possess . Thus, the author of the poem put forward in his work a number of the just demands of the powerful : to be educated to care about people , good to know the literature , art, etc. In this regard, work Balasaguni ” Kutadgu Bilik ” is considered one of the most important sources for the history of Uzbek statehood . Furthermore , since this work is written in the language of Turkic peoples – which became the nucleus of the Uzbek people , it is also important as a source for the history of the Uzbek language of the era.
Contribution to world science
” Kutadgu Bilik ” is the first encyclopedic work of the Turkic language. This work is not only a political treatise , but also it is the sum of knowledge in various fields of science and culture of its era , it is collected and summarized material from philosophical understanding of attitudes of the author, in particular, we consider the philosophical problem of the meaning of life, purpose of man, his place and role in the social and natural universe. Balasaguni product is an extensive system in which problems are put forward as a general philosophical nature and vital practical , ethnic and aesthetic plan.
Significance and relevance of putting into circulation ” Kutadgu bilig ” Yusuf Balasaguni clearly emerges in terms of a comprehensive study of the multidimensional process of cultural development. Scientific use, study , interpretation works Balasaguni historical and philosophical slice yielded Repose of mental content, the intellectual life of the region Karakhanids era .
Yusuf Khas Hajib Balasaguni rightly considered a writer, an outstanding poet , a highly educated man , a connoisseur of the human soul , philosopher, scholar and lexicographer , poet , who owned all the subtleties of poetry and Turkic folklore.
It should be noted that according to the researchers ‘ Kudatgu Bilik ” widespread and recognition during the life of the author. This is confirmed by the author in his work . So Balasaguni Yusuf writes that the Iranians call it work – ” Shakhname and Turks” (” Turkic Shakhname ” ), residents of the East – ‘ Umar al- Ziynat “(” Decoration rulers “, etc. In addition ,” Bilik Kutadgu ” influenced the literature of Turkic peoples until the XIV – XV centuries .
There are several translations and editions of the poem ” Kutadgu bilig .” In particular, the Uzbek language , as well as English, Turkish , Uyghur , German , Azeri and some other languages .