LLC "Azerkosmos" plans to own till the end of the year an Earth observation satellite "SPOT 7" by the French company "Airbus Defense and Space", and start its commercial operation.
The work on an agreement "On strategic cooperation", which will be signed between these structures is at its final stage, according to the press release of the Ministry of Communications and high technology . The document provides for a distribution of profits from joint use satellites "SPOT 6" and "SPOT 7", training of local staff in the management, and marketing of satellite exports of modern technology and knowledge by the company "Airbus Defense and Space" in Azerbaijan, and other matters.
On June 30 this year the company “Airbus Defence and Space” launched a satellite into orbit "SPOT 7" in the frames of cooperation with Azerkosmos.
Memorandum of Mutual Understanding on Cooperation in the field of observation services between Azerkosmos LLC and Airbus Defense and Space was signed in Baku on May 12, 2014. - 17D-
Economics
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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