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November 26, 2014


November26, 2014

Finance.. 2

A Robust Backbone. 2

14th international competition.. 2

Frequency Converters to Help in Energy Saving. 2

sport.. 3

Worthy performance of our athletes. 3









A Robust Backbone

Unlike many countries, where experts predict a recession next year, Uzbekistan’s economy is expected to show a significant growth, owing much to the banking system of the nation, as it flexibly responds to fluctuations in global markets. Despite the currency collapse, the growing inflation and the decrease in investment projects in some CIS countries, Uzbekistan, as projected by international financial institutions, might significantly strengthen its position in export markets and consolidate its real economy sector owing to the proper monetary policy.

Back in 2008, Uzbekistan worked out a special strategic program of crisis management measures that have helped to have the domestic industry geared up for potential challenges within a brief period of time. The weakened purchasing capacity of many big banks worldwide has led to the collapse of the share value of the largest companies, and hence to a sharp decline in production rates and economic growth. Meanwhile, the domestic banking sector was ready for such a scenario. The stock of the country’s major commercial banks was replenished with additional funds. Moreover, the increase in the capitalization level of commercial banks in the US, Europe and CIS countries was aimed at ensuring the additional liquidity and the purchase of troubled bank assets, while Uzbekistan has gone the other way by investing funds in the future – in the expansion of investment activity in the economy through allocation of additional resources. The results were not long to come. For example, in the first nine months of 2014, the GDP grew by 8.1%, and the foreign trade surplus exceeded $900 million.

For the nine months, the total amount of loans to the real economy sector grew by 31.1% YOY, exceeding 30.3 trillion soums. The amount of allocated investment funds increased 1.3 times. As of October 1, 2014, the index surpassed 6.7 trillion soums (currency rates of CB RU from 26.11.2014   1$= 2401.09 soums).

Investments in business projects of young people, especially graduates of vocational colleges, are gainig momentum in the loan portfolio of banks. For instance, 160.3 billion soums of loans was channeled in January-September for these purposes, which is 1.5 times as much as it was in the Samarkand,economic period of the last year.

Stability of domestic banks, growth of public confidence and an increase in real incomes serve as a strong basis for drawing free funds of population and business entities to bank deposits. That has produced mounting aggregate balance of bank deposits. Thus, the index multiplied by 30.4%, and exceeded 26.8 trillion soums.

(Source: «Uzbekistan Today» newspaper)

14th international competition

Frequency Converters to Help in Energy Saving

One of the biggest vocal competitions of the world “Competizione dell’Opera” for the first time in its history is hosted in Uzbekistan. 

It is the largest and the only opera competition in which singers demonstrate their knowledge and ability to sing Italian opera. For most of them it is the starting point for a career in music and business cards in the conquest of the most prestigious opera houses in the world.

This year it is attended by 60 young artists in Europe, South America, Australia and Asia. Our country is represented about 40 talented singers.

These days it was held preliminary listening artists of Uzbekistan and the CIS. The correspondent was able to talk with some of them and learn their impressions:

– First time I participate in this competition, – says soprano Anastasia Kozhuharova, a graduate of the Kazakh National Conservatory named after Kurmangazy. – Being among the contestants – a good start to promote, while the jury is made up of well-known directors, choreographers working in the most prestigious opera houses in the world. They often invite participants “Competizione dell’Opera” to play in their performances. For me personally, the competition – is a great creative school where I can learn from and listen to the singing of the brightest talent from around the world.

According to the organizers, the goal of the contest, which is open to all participants aged 18 to 30 years, to find new opera talents and help in their further growth. The repertoire of international competition includes only Italian works, since this language is basic to opera singers. There is no doubt in that the competition will become a significant event in the cultural life of Uzbekistan and will be an important factor for the creative development of our young vocalists.

– Your country has always been famous for excellent voices and natural opera data of artists – says jury member Gray Hanidanyan. – Soloists of Uzbekistan not only successfully perform at various festivals and competitions, but also occupy the most prestigious places. I delighted that you have preserved the tradition of academic vocal, including opera, and maintained at the state level. Therefore, an international festival «Competizione dell’Opera» in Uzbekistan is quite natural. It will play an important role for the development of young opera singers in your country, and even more to raise the authority of the republic as a whole.

The jury will listen to more than 60 singers from different countries. Today the first round of the competition will begin, where participants will give an unforgettable meeting with the beautiful and eternal art of Italian opera, will allow to rediscover the great works of genius classical composers.

The finalists will perform at one of the most beautiful scenes of the country – in the Palace of International Forums “Uzbekistan” at the gala concert, which will take place on November 29.

(Source: IA «Jahon»)


Worthy performance of our athletes

The sports complex “Uzbekistan” ended the I Afro-Asian Cup and the III Asian Cup on weightlifting.

In these competitions, organized by the Ministry of Culture and Sports of the Republic of Uzbekistan in cooperation with the Federation of Weightlifting, about 300 athletes from 20 countries of the African and Asian continents fought for the victory, reports the National Information Agency UzA.

On the I African-Asian championship our athlete Sardor Dustmurodov in competitions by weight category up to 105 kilograms lifted 160 kilograms in the snatch, 221 kilogramsin jerk – and with overall 381 kilograms won two gold and one silver medals.

Among weightlifters in the weight category up to 94 kilograms our compatriot Shodilbek Ergashev showed result of 148 kilograms in the snatch, 176 kilograms – in the clean and jerk. According to the overall results, he scored 324 kilograms and won one gold and two sliver medals.

Our women’s team also successfully performed in the championship. Weightlifter Marina Sysoev and Manzurahon Mamasolieva brought to the treasury of our team three silver medals.

In the competition among adults of III Asian Cup Avaz Ibiev by weight category up to105 kilograms got just three silver medals, and Muhammad Begaliyev (85 kg) also brought two silver and one bronze medals.

Within the framework of this competition were also held competitions among weightlifters under the age of 20 years. Doston Yakubov, Azamat Sharipov, Azimjon Ganiev, Farangiz Shomurodova, Komila Abdullayeva adequately protected the honor of our country and proved their superiority winning three gold medals.

In addition, to the number of the winners also included Shahzod Khudoiberganov, Ruzimurod Aslonov, Sunnatillo Shokirjonov, Davron Kenjaev, Zufar Kadyrov, Gulnoza Akhmedova, Dina Tozhieva.

(Source: IA «Jahon»)

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