On December 26 the Central Bank of Azerbaijan raised 30 million manat on the deposit auction against the planned 50 million manat. The funds were raised for 14 days at the weighted average rate of 14.10%.
CBA launched deposit auctions in June 2016. According to international practice, the main purpose of deposit auctions is the sterilization of money supply. At the time of deposit auctions the Central Bank receives commercial banks' deposits for placement. ----71D
Economics
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On November 22, Rovshan Najaf, President of Azerbaijan's State Oil Company (SOCAR), spoke at the Istanbul Energy Forum, sharing his perspective on the use of renewable and fossil fuels globally.
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On November 21, COP29 participants, under Azerbaijan’s presidency, held intensive discussions over two draft proposals for the "New Collective Quantified Goal" (NCQG) on climate financing. The drafts reflect deep divisions on how to allocate funds, with developing nations demanding immediate and substantial financial commitments and wealthier countries advocating for more flexible mechanisms.
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A Lufthansa airliner flying from Mumbai to Munich made an emergency landing at Heydar Aliyev International Airport early Wednesday after a passenger suffered a sudden medical emergency, airport officials said.
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Heads of national road transport associations from member states of the Organization of Turkic States (OTS - TDT) gathered in Istanbul to launch a landmark initiative: the creation of the International Association of Road Transporters (TDT-URTA). This ambitious plan, unanimously approved by all participants, marks a significant step toward enhancing cooperation in road transportation among Turkic-speaking nations.
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