Renowned British journalist and motorsport analyst Joe Sovard, who has been covering the Formula 1 championship since the 1980s, reported on Uzbekistan’s possible interest in hosting a Formula 1 race on its territory.
On the sidelines of the Singapore Grand Prix, which took place at the Marina Bay circuit, representatives of several Asian countries, including Uzbekistan, actively discussed the prospects of organizing future Formula 1 races. This was reported by Joe Sovard, a permanent accredited correspondent for the International Automobile Federation (FIA) and author of the popular blog Joe’s Blog F1, dedicated to the behind-the-scenes aspects of motorsport.
According to Sovard, Uzbekistan is positioning itself as a promising center for the development of international motorsport events in Central Asia. “The paddock at Marina Bay was as lively as ever, and there are rumors that representatives from Thailand, Korea, and even Uzbekistan were discussing possible F1 races in the city in the future,” the expert noted in his recent review. He emphasized that the initiative is in line with Tashkent’s strategic course to modernize infrastructure and strengthen the country’s international image through sport.
Sport is playing an increasingly important role in public life in Uzbekistan. Recently, the national football team qualified for the FIFA World Cup for the first time in history, which gave a significant boost to the development of mass and professional sports.
The government is showing considerable interest in motorsports, undertaking to finance the FIA General Assembly in Tashkent in December this year.
Sovard, whose materials are highly valued in professional circles for their depth of analysis and access to insider information, sees these steps as having the potential to expand the geography of Formula 1. “It is clear that there is interest in cars in the country,” he comments, emphasizing that such initiatives contribute not only to the sporting but also to the economic progress of the region.
Imports of electric telephone or telegraph apparatus and videophones (HS 8517) to Ukraine in January-September increased by 24.4% compared to the same period in 2024, reaching $1.12 billion, according to statistics from the State Customs Service.
According to statistics, the largest volume of these products was imported from China (54.6% or $613 million), Vietnam (15.2% or $171.2 million), and the United States (8.5% or $95.4 million), while last year it was China (64.1% or $579.1 million), Vietnam (16.3% or $147.1 million), and Malaysia (4.2% or $38 million).
At the same time, exports of these products from Ukraine in January-September 2025 amounted to $92.5 million, 42% more than in the first nine months of last year, mainly to Hungary (71.5%), Poland (23.3%), and the Netherlands (less than 1%). During the same period in 2024, products were exported mainly to the same countries, but Hungary accounted for 60%, Poland for 30.4%, and the Netherlands for 4.5%.
According to the State Customs Service, in 2024, telephone or telegraph equipment worth almost $1.26 billion was imported into Ukraine, which is 10% more than in 2023.
Global demand for steel in 2025 will remain at the previous year’s level — about 1.748 billion tons, after a 1.6% decline in 2024. These figures are given in the short-term forecast of the World Steel Association (Worldsteel) — Short Range Outlook (SRO).
In 2026, according to experts, demand will grow by 1.3% to 1.772 billion tons, driven by recovery in Europe, India, and the rapidly developing countries of Asia, the Middle East, and Africa.
According to Worldsteel’s forecast, in the CIS countries, including Ukraine, demand for steel will decline by 5.2% in 2025, to 56.1 million tons, and by another 1.7% in 2026, to 55.2 million tons.
At the same time, India will retain its status as the world’s fastest-growing steel market, with growth of around 9% annually in 2025-2026. Already next year, steel consumption in India will be almost 75 million tons higher than in 2020.
In developing countries (excluding China), demand for steel will increase by 3.4% in 2025 and by 4.7% in 2026, driven by active economic development in ASEAN countries, as well as in Saudi Arabia and Egypt.
In Africa, steel consumption is growing by an average of 5.5% annually, reaching 41 million tons in 2025 — the highest level in the last decade. Growth is driven by investments in construction and improved macroeconomic indicators.
Andriy Ozeychuk, Chairman of the Board of Directors of the Ukrainian Steel Construction Center and Director of Rauta, commented on the market situation and prospects for the Ukrainian steel sector.
“The Ukrainian steel market in 2025–2026 will be shaped by the recovery of domestic demand in construction and machine building, as well as the growth of exports of metal structures to the EU. We predict that demand for steel in Ukraine may grow by 6-8% in 2026 due to infrastructure and industrial recovery projects,” Ozeychuk said.
According to him, the steel construction sector will be the driver of this growth:
“The use of metal structures will accelerate the restoration of logistics, industrial, and infrastructure facilities.”
Ozeychuk also stressed that the launch of joint programs with European partners in the field of “green” metallurgy, where Ukraine already has its first pilot initiatives for the production of steel with a low carbon footprint, could give the industry an additional boost.
According to the forecast, demand for steel in the EU+UK region will increase by 1.3% in 2025 and by 3.2% in 2026. This reflects the impact of increased investment in infrastructure and defense amid lower inflation and improved household incomes.
In the US, Worldsteel expects steel consumption to increase by 1.8% in both 2025 and 2026. The main drivers of growth will be government spending on infrastructure, a revival in housing construction, and private investment.
In China, steel demand will continue to decline, by approximately 2% in 2025, due to the prolonged downturn in the real estate market. In 2026, the rate of decline will slow to 1% as the construction sector is expected to bottom out.
Worldsteel warns that a more challenging global trade environment and financial pressure on local authorities could further limit infrastructure investment and reduce demand.
According to Alfonso Hidalgo de Calcerrada, chief economist of the Spanish Steel Manufacturers Association (UNESID) and chairman of the Worldsteel Economic Committee, the organization is “cautiously optimistic” about the market outlook:
“Despite trade disputes and uncertainty, we believe that global steel demand will bottom out in 2025 and show moderate growth in 2026,” the expert said.
He added that this will be facilitated by the resilience of the global economy, growth in infrastructure investment, and easing financial conditions. At the same time, the sector continues to be pressured by high costs, trade barriers, and geopolitical risks.
Worldsteel’s forecast emphasizes that the decline in demand in China is offset by strong growth in India and developing countries, where a new center of global steel production is emerging.
In addition, the protective measures introduced by the European Union — reducing duty-free import quotas and increasing customs duties to 50% — may change the balance between EU producers and exporters from Asia and Eastern Europe.
For more information on the largest steel producers and global industry trends, see the Experts Club video analysis review available on YouTube: Experts Club — Leaders of the global steel industry 1990–2024
CHINA, EU, EXPERTS CLUB, global economy, INDIA, OZEYCHUK, RAUTA, USA, World Steel, WORLDSTEEL
As Serbian Economist reports, the first Ukrainian Literature Festival organized by the Ukrainian Center “Triglav” in cooperation with the Embassy of Ukraine in Serbia took place in the Serbian capital.
The event united Ukrainian writers, translators, literary critics and Serbian fans of Ukrainian culture.
According to the organizers, the goal of the festival is to popularize modern Ukrainian literature abroad and develop cultural dialogue between Ukraine and Serbia.
The festival included readings by Ukrainian authors, presentations of translations into Serbian, panel discussions and meetings with translators working on adapting works by Ukrainian writers for local audiences.
New translations of Ukrainian works into Serbian were presented during the festival. Serbian publishers emphasized that interest in Ukrainian culture has grown significantly after 2022.
https://t.me/relocationrs/1569
The Nikkei Asia news portal reported that the Japanese company Sojitz will invest in the construction of a new international airport in Tashkent.
According to the publication, Sojitz will start implementing the project this year. The construction is part of the company’s $1 billion infrastructure investment.
The Tashkent airport will be built in partnership with the Saudi company Vision Invest on the basis of a public-private partnership. Sojitz plans to invest tens of billions of yen, or hundreds of millions of dollars, in the project. The company has previously participated in international airport projects in Kumamoto and Okinawa prefectures, as well as on the islands of Palau.
“The project for a new airport in Uzbekistan was approved in August 2025. According to the plan, its opening is scheduled for 2028. The new airport will be able to handle up to 20 million passengers per year and provide more than 40 takeoffs and landings per hour, making it the largest in Central Asia,” the article notes.
Sojitz also plans to participate in other infrastructure projects in Uzbekistan. Together with the Turkish company Ronesans International, it plans to build a large 800-bed hospital, a 1 GW wind farm, and a 1.6 GW thermal power plant in Samarkand.
According to Nikkei Asia, Uzbekistan is the largest country in the region with a population of 37 million. Annual GDP growth exceeds 6%, and tax breaks and incentives are available for foreign investors. The corporate tax rate is 15%.
“As of October 2024, 54 Japanese companies are operating in Uzbekistan, twice as many as in 2019. In June, Sojitz opened its first official office in Tashkent,” the publication notes.
The article also notes that other Japanese companies are actively developing infrastructure projects in Uzbekistan. For example, Toyota Tsusho, through its subsidiary Eurus Energy Holdings, is exploring a site for a 500 MW wind farm and has signed an agreement with NEC to build data centers. Marubeni, in partnership with the UAE, is implementing a project to build a wastewater treatment plant.
In addition, Nikkei Asia reports that Uzbekistan is in talks with Japan’s Ministry of Economy, Trade, and Industry to expand cooperation in the extraction of mineral resources, particularly those of strategic importance.
The NOVUS supermarket chain has completed comprehensive preparations for the autumn-winter period to ensure the uninterrupted operation of its stores even in the event of prolonged power outages. The total investment in energy independence and backup solutions amounted to UAH 385 million, according to the company’s press service.
“We realize that the operation of our supermarkets is a matter of Ukrainians’ access to everyday products, even in times of crisis. Therefore, energy independence has become one of the key areas of investment for NOVUS,” the press service quotes Dainius Tumenas, Deputy CEO for Asset Management at NOVUS.
Currently, all NOVUS stores are equipped with generators of various capacities. Their total installed capacity is 33.72 MW, which makes it possible to maintain the network’s operation even during periods of prolonged power outages. The total investment in energy efficiency and energy independence since the start of the full-scale war has reached UAH 385 million, of which UAH 272 million has been allocated to generators.
As noted, one of the breakthrough solutions for Ukrainian retail has been gas generators, which are more environmentally friendly than diesel generators and capable of simultaneously producing electricity, heat, and industrial cooling. The company has installed four units with a total capacity of 3 MW at two of its facilities.
“Gas generators help us remain stable in critical conditions and at the same time move us towards environmental friendliness and energy efficiency,” Tumenas emphasizes.
NOVUS has also formed a strategic reserve of diesel fuel – 168 tons (calculated for six days of autonomous operation of the entire network). In addition, a system of continuous fuel supplies has been established, which allows for a quick response to crisis situations.
At the same time, the company is developing renewable energy. Pilot projects in Novi Petrivtsi (Kyiv region) and at the logistics center have proven the effectiveness of solar panels: in the summer, they covered up to 65% of the supermarket’s energy needs. By the end of 2025, 15 NOVUS facilities will be operating on their own solar power generation with a total capacity of 3.34 MW. The total investment in this area is UAH 78.6 million.
“The future of retail lies in renewable energy sources. This is not only economically beneficial in the long term, but also provides an opportunity to build a more sustainable and responsible business,” explains Tumenas.
To improve energy efficiency in stores, a Building Management System (BMS) is being implemented, which allows remote control of lighting, ventilation, power supply, and other key processes.
An important step in reducing the carbon footprint was the purchase of the first corporate electric vehicles in 2025.
The chain also emphasizes that in the event of power outages, stores remain open not only for shopping but also as a support space where you can recharge your gadgets, warm up, and buy fresh produce.
The Novus supermarket chain is developed by BT Invest (Lithuania), a company founded in 2008 by former Sandora shareholders Raimondas Tumenas and the late Igor Bezzub.
The company is represented in the capital region, Ternopil, and Rivne. As of October 25, the chain has 141 locations (88 Novus, 51 Mi Market neighborhood stores, and two Khapayka discount stores).
According to YouControl, as of October 2025, the owner of Novus Ukraine with a 100% stake in the authorized capital was Consul Trade House CJSC (Vilnius, Lithuania). The ultimate beneficiaries are listed as Marina Poznyakova, Agne Ruzgiene, and Raimondas Tumenas.
According to the company’s financial results, at the end of the first half of 2025, compared to the same period last year, its revenue increased by 21.5% to UAH 16 billion 293.739 million, The company received a net profit of 87.477 million compared to a net profit of 409 million 041 thousand UAH for the first half of 2024.
