JSC Bank Technique presented two new card products - Visa Virtual and Visa Business Gold.
Visa Virtual is a virtual card exclusively for use on the Internet. Established to promote e-commerce, this card can not be used to pay in real stores, cash withdrawals at ATMs, etc.
Corporate Card Visa Business Gold, with the possibility of double-checking the financial costs of its owner, is mainly used for travel, business and hospitality employees of companies and organizations. These types of cards can be used both in Azerbaijan and abroad.
Both cards are already available in the branches and offices of the bank. The annual cost of servicing the card Visa Virtual is 5 AZN, while Visa Business Gold is 30 AZN. -15D -
Economics
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Azerbaijan's President Ilham Aliyev signed a decree introducing changes to a number of presidential decrees aimed at amending the country's Tax Code in connection with the adoption of Law No. 98-VIIQD on December 16, 2024. The decree, published on Tuesday, introduces significant changes designed to simplify tax refunds for various goods and services and improve the rules for refunding value-added tax (VAT).
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SOCAR Türkiye Enerji AS (STEAS), the Turkish subsidiary of Azerbaijan's state oil company SOCAR, has announced an ambitious plan to build new production facilities for ethylene, polyethylene, and polypropylene (polyolefins) in Turkey. This initiative comes as the country grapples with a widening supply-demand gap, with nearly 90% of its polyolefin needs currently being met through imports.
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The tourism industry in Azerbaijan is experiencing remarkable growth in 2024, driven by post-pandemic recovery and strategic government initiatives. From January to November 2024, the country welcomed 2.412 million foreign tourists, marking a 27% increase compared to the same period in 2023. Projections suggest that the total number of visitors by year-end could reach 3 million, underscoring the sector's impressive trajectory.
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In the first 11 months of 2024, Azerbaijan's consumer market demonstrated steady growth, with the total value of goods and services reaching 67.4 billion manats, a 4.8% increase compared to the same period in 2023. This growth underscores the resilience of Azerbaijan's economy, which continues to adapt to global and domestic challenges.
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