Trump secures deal for 15% tariff on South Korean imports
The U.S. will impose a 15% tariff on imports from South Korea under a new trade deal that also includes a $350bn (about £264bn) South Korean investme...
During President of Uzbekistan Shavkat Mirziyoyev’s visit to Budapest, Uzbekistan and Hungary agreed on over €1.5 billion in new joint projects and outlined further cooperation in trade, finance, and culture.
President of Uzbekistan Shavkat Mirziyoyev and Hungarian Prime Minister Viktor Orbán held high-level talks in Budapest, focusing on deepening strategic partnership and expanding economic cooperation.
Both leaders confirmed the preparation of new joint initiatives and investment projects worth more than €1.5 billion. These will build on the current portfolio of over $500 million and cover sectors such as finance, infrastructure, agriculture, and manufacturing.
They discussed the growing trade turnover and set a short-term target of €500 million, supported by import substitution mechanisms and EU GSP+ trade preferences. Agreements include the accreditation of Uzbek laboratories to EU standards and the launch of pre-certification programs for exports.
Hungary’s OTP Bank was highlighted as a key partner in entering Uzbekistan’s market, with plans to establish a joint venture for auto loans and SME support. A major poultry cluster is also under development in Syrdarya region.
Further cooperation includes the planned creation of a Hungarian-managed industrial zone in Uzbekistan for European manufacturers and the adoption of an Investment Partnership Program at the upcoming Intergovernmental Commission meeting in July.
Cultural and educational exchange is also expanding, with plans to declare 2026 the Year of Uzbek and Hungarian Culture, stage the ballet Lazgi in Hungary, and exhibit Uzbek heritage in Budapest. Cooperation in higher education will continue under the Stipendium Hungaricum program, alongside potential joint degrees and university branches in Uzbekistan.
To ensure implementation, a bilateral roadmap will be developed by relevant ministries. At the close of the meeting, President Mirziyoyev invited Prime Minister Orbán to pay an official return visit to Uzbekistan.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Türkiye continues to confront the devastating legacy of past earthquakes, Istanbul is taking a major step toward future precautions—with the launch of an AI-powered disaster response system.
The Russian state news agency has reported that Shahin Shykhlinski, head of the Azerbaijani diaspora in Yekaterinburg, has been declared wanted in connection with a criminal offense.
A two-day official visit by Kazakh President Kassym-Jomart Tokayev to Türkiye concluded with the signing of 20 agreements aimed at expanding the strategic partnership between the two countries in key areas, including mining and rare earth minerals, space and technology, energy, and logistics.
The 5th meeting of the Kazakhstan–Türkiye High-Level Strategic Cooperation Council, chaired by the two countries’ leaders was held on Tuesday in Ankara. The meeting was focused on strengthening cooperation in the areas of economy, transport, and investment.
President of Kazakhstan Kassym-Jomart Tokayev arrived in Türkiye on Tuesday for an official visit at the invitation of Turkish President Recep Tayyip Erdoğan.
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