Latest news with #CentralAsian
Express Tribune
4 hours ago
- Business
- Express Tribune
Minister vows to transform Gwadar
Listen to article Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has reaffirmed his commitment to turning Gwadar into a modern maritime and logistics centre aligned with national goals and regional development. According to an official statement released on Wednesday, the minister shared this vision during a meeting with Gwadar Port Authority Chairman Noorul Haque. The chairman briefed him on the port's performance, ongoing projects, and future business plans during the minister's official visit to Gwadar. The minister stressed the need for steps that reflect ground realities and promote inclusivity, prosperity, and national pride through enhanced port performance. He pointed out the economic potential of Balochistan's coastal and agricultural belt, particularly in fishing and date production in Gwadar, Panjgur, and Kech. The Makran coast contributes 40% of Pakistan's total fish catch, while Kech and Panjgur produce over half of the country's premium dates. However, 3040% of these crops are lost post-harvest due to a lack of value-addition infrastructure, limiting export potential. The minister urged both public and private sectors to invest in fish and date processing units, including cleaning, freezing, grading, drying, and packaging facilities. He also called for the development of cold storage and logistics systems to support sustainable export operations. The meeting also reviewed plans to build an Off-Dock Terminal near the New Gwadar International Airport. A 100-acre site has been earmarked for the terminal, which will handle containers and cargo. The project, with a projected cost of Rs497 million and a one-year completion target, aims to reduce demurrage costs, increase trade confidence, and boost revenues through Gwadar Port. The terminal will provide logistical benefits to landlocked Central Asian countries like Uzbekistan, Tajikistan, and Turkmenistan by lowering transit costs, the statement added. The minister also toured the China Business Center, where he was briefed on the port, Free Zone, and Gwadar International Terminal. He instructed relevant authorities to accelerate efforts and ensure timely progress.
Nikkei Asia
11 hours ago
- Business
- Nikkei Asia
Japan looks beyond ASEAN to Uzbekistan, Bangladesh for more workers
Japanese companies are recruiting workers for a wide range of jobs, from manufacturing to services. (Photo by Rie Ishii) KENTA SHIMAI TOKYO -- Japan is eyeing South and Central Asian countries as sources of foreign talent, preparing for a decline in workers from Southeast Asia as economic growth in the region makes them less inclined to go abroad. Japan's Ministry of Health, Labor and Welfare will appoint a private-sector organization to speak with dispatch agencies in South and Central Asian countries such as India, Sri Lanka and Uzbekistan. They will look at labor needs in Japan as well as systemic obstacles.
Scoop
12 hours ago
- Politics
- Scoop
Unprecedented Afghan Returns Are ‘A Test Of Our Collective Humanity'
16 July 2025 Roza Otunbayeva, the Secretary-General's Special Representative for Afghanistan, made the appeal during a visit to the Islam Qala border crossing with Iran on Tuesday where she witnessed the daily influx of tens of thousands of returnees. She also met returnee families, aid partners and regional de facto officials. Alarm bells should be ringing ' What should be a positive homecoming moment for families who fled conflict decades ago is instead marked by exhaustion, trauma, and profound uncertainty,' said Ms. Otunbayeva, who also heads the UN Assistance Mission in Afghanistan (UNAMA). 'The sheer volume of returns – many abrupt, many involuntary – should be setting off alarm bells across the global community,' she added. ' It is a test of our collective humanity. Afghanistan, already grappling with drought, and a chronic humanitarian crisis, cannot absorb this shock alone.' Local communities overstretched Since January, more than 1.3 million have been largely compelled to head back to Afghanistan - a country where 70 per cent of the population lives in poverty. Women and children face the gravest risks, UNAMA said, as they are returning not only to dire economic hardships but to a context where their access to basic services and social protections remains severely constrained. The UN has repeatedly highlighted the assault on women's rights under Taliban rule, including bans affecting higher education, employment and freedom of movement. Reintegration support critical The returns are happening at a time when humanitarian operations remain woefully underfunded, forcing agonising choices between food, shelter, and safe passage. Ms. Otunbayeva also underscored the critical need for immediate reintegration assistance as initial evidence shows that stabilising return communities requires urgent livelihood programmes and community infrastructure investments. She warned that without swift interventions, remittance losses, labour market pressures, and cyclical migration will lead to devastating consequences. These could include the further destabilization of both returnee and host populations, renewed displacement, mass onward movement, and risks to regional stability. 'We cannot afford indifference' She urged donors, development partners, and regional governments not to turn away and abandon Afghan returnees. 'What we are witnessing are the direct consequences of unmet global responsibilities,' she said. 'We must act now – with resources, with coordination, and with resolve.' Meanwhile, the UN in Afghanistan is calling for an integrated approach that resources humanitarian needs while scaling up assistance in areas of return. At the same time, regional dialogue – including with Iran, Pakistan, and Central Asian states – must be prioritized to halt disorderly returns and uphold the principle of voluntary, dignified and safe repatriation. 'Afghanistan's stability hinges on shared responsibility: We cannot afford indifference,' said Ms. Otunbayeva. 'The cost of inaction will be measured in lives lost and conflicts reignited.'
Observer
14 hours ago
- Business
- Observer
Oman boosts ties with Eurasian Development Bank
MUSCAT: The Sultanate of Oman recently welcomed a high-level delegation from the Eurasian Development Bank (EDB) to explore avenues for enhancing economic and investment cooperation between the two sides. During the visit, the delegation held a series of key meetings with the Ministry of Finance, the Oman Investment Authority, the Oman Investment Bank, and the Muscat Stock Exchange. Discussions centred on expanding partnerships between Oman and the EDB, particularly in financing infrastructure and development projects. They also touched on supporting joint economic ventures, exchanging technical expertise and financial advice; and strengthening collaboration with Central Asian nations and other member states of the bank. This visit further reinforces Oman's reputation as a competitive and attractive investment hub, positioning it as a focal point for regional and international cooperation. The Eurasian Development Bank, established in 2006, currently has seven member countries. It plays a pivotal role in promoting sustainable economic growth across the Eurasian region. The bank primarily finances development projects in key sectors including energy, transportation, mining, agriculture and logistics. In addition, it offers technical and advisory support to help member states achieve broader economic development goals. — ONA
Reuters
16 hours ago
- Business
- Reuters
UZCARD Announces Expansion of Open Banking Infrastructure in Uzbekistan, Paving the Way for Fintech Growth
TASHKENT, Uzbekistan, July 11, 2025 (EZ Newswire) -- UZCARD, opens new tab, a leader in financial infrastructure development, encompasses all payment components such as issuing, acquiring, card network, payment gateway and aggregator functionalities. It leads the strategic progress of Open Banking, opens new tab roads in Uzbekistan and its ongoing impact on the country's fintech sector. Leveraging centralized payment processing systems, Uzbekistan is emerging as a Central Asian success story in implementing a secure, scalable, and competitive Open Banking environment. Open Banking, opens new tab allows consumers to access and share their financial data across platforms via open APIs, enabling third-party developers to build tailored services that aggregate information from multiple institutions. In Uzbekistan, this model is supported by nationwide infrastructure and compliance with personal data protection laws, creating a 'bank-agnostic' environment for users. 'With centralized systems like UZCARD, consumers can link their accounts across all local financial institutions in a seamless and secure way. This dramatically reduces customer acquisition cost, boosts competition, and enables a new generation of fintech innovation,' said David Melikidze, CEO of UCMG (UZCARD Management Group). Unlike in traditional banking systems where financial institutions limit cross-platform access, Uzbekistan's centralized processing hub provides an integrated foundation for Open Banking. This infrastructure not only benefits consumers but also empowers fintech companies to develop and scale new financial products without requiring large marketing budgets or prolonged acquisition efforts. Technology Driving Open Banking Open Banking relies on several core technologies: This approach is enabling financial innovation by allowing customers to manage their finances, switch providers easily, and access highly personalized services. Implications for Emerging Fintech Markets In markets such as Uzbekistan, the lowered barriers to entry are already fostering a vibrant fintech scene. Startups can integrate with UZCARD to offer services like multi-bank account views (balance aggregation), spending analytics and categorization, transaction initiation and embedded financial products directly within third-party applications. As these capabilities expand, they reduce the relevance of traditional banking interfaces while increasing financial inclusion and diversity. Looking Ahead: Open Banking Beyond Finance UZCARD forecasts that Open Banking's infrastructure and principles will soon extend to adjacent sectors, including: These developments will further empower consumers by enabling data portability across services and industries. 'Open Banking is not just a technological shift; it's a new standard for how people interact with their financial and personal data,' added Melikidze. About UZCARD Founded in 2004, UZCARD is a national payment system of Uzbekistan that is developed and maintained by JSC (Unified All-Republican Processing Center). The system provides for the issuance and processing of bank cards, used for non-cash payments, transfers and cash withdrawals in Uzbekistan's official national currency, the Uzbek sum. UZCARD unites 35 commercial banks in the country and 33 payment aggregators. UZCARD cardholders can make payments for goods and services through POS and E-POS terminals, use ATMs and infokiosks (self-service terminals), as well as conduct transactions through mobile applications and internet banking systems nationwide. For more information, visit opens new tab. Media Contact David Melikidze+998 71 200 28 28info@ ### SOURCE: UZCARD Copyright 2025 EZ Newswire See release on EZ Newswire
