Azerbaijani Bank in Montenegro Changes Its Name

The Azerbaijan Land Transport Agency (AYNA) has announced plans to significantly increase the number of buses on the roads to meet growing passenger demand as the new school season kicks off. The move is part of a broader effort to enhance public transportation in Baku and its surrounding regions.

Azerbaijan's commodity exports fell sharply in the first half of 2024, decreasing by 18.5% to $12.4 billion, according to data from the Central Bank. This marks a significant shift in the country's trade performance, primarily driven by changes in the oil and gas sector. Despite the overall decline in export figures, oil and gas exports remained strong, supported by favorable global market prices for crude oil and natural gas.

Azerbaijan, a nation where post-Soviet welfare policies are often compared to those of its neighbors, finds itself at the center of a debate over the absence of state-provided child benefits. Unlike other former Soviet republics, Azerbaijan does not offer universal payments for children. This issue gained attention during the parliamentary elections in September 2024, as political candidates promised to push for the reintroduction of child benefits if elected to the Milli Majlis.

Azerbaijan's foreign direct investment (FDI) portfolio for the first half of the year continued to be dominated by the oil and gas sector, which attracted 80.4% of the total FDI inflow of $3 billion, according to the Central Bank of Azerbaijan. This reflects a persistent trend of reliance on energy resources, as the country plays a critical role as a key energy producer in the region.