Today the State Oil Fund of Azerbaijan (SOFAZ) through an auction organized by the Central Bank of Azerbaijan, has sold another $ 50 million. According to SOFAZ, the same amount was sold at the end of trading yesterday - the day before and was offered $100 million, but the auction was attended by 21 banks, today was by one player less.
Sale of foreign currency by the Fund is carried out within transfers to the state budget, this is year provided $7 billion 615 million AZN.
By January 1, SOFAZ assets amounted to $ 33.57 billion (minus 9.5% in early 2015.) --17D-
Economics
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In recent months, an increase in the price of butter has been observed in Azerbaijan. Notably, this is the third price hike within a year. According to consumers, certain brands of butter that cost 19 manats per kilogram at the end of last year are now being sold for 24 manats, marking a nearly 30% increase.
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Azerbaijan has signed an "Agreement on Project Implementation" with China’s BYD Company Limited (BYD) to establish a domestic production line for electric buses, officials announced.
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Russia has reduced its greenhouse gas emissions by more than twofold from the 1990 baseline, Russian Prime Minister Mikhail Mishustin announced at the COP29 climate summit.
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Georgian Prime Minister Irakli Kobakhidze announced that Georgia will present its updated Nationally Determined Contribution (NDC 3.0) by 2025, signaling the country’s renewed climate ambitions during his speech at the COP29 summit in Baku on Wednesday.
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