For the first time over the three months, the Central Bank of Azerbaijan has significantly increased the rate of manat. According to the official exchange rate from September 10 to 14 inclusive the rate of manat will be 1.6390 AZN (course on September 9, 1USD / 1,6403AZN). It should be noted that since May 26, the dollar rose steadily. The lowest rate of the US currency after the devaluation was recorded on May 26, 2016 - 1USD/1,49AZN. Turan has reported that, despite the sale on 8 September by the State Oil Fund and the Central Bank $300 million, most commercial banks on Friday did not restore the sale of foreign currency to the public. Due to the holidays, most banks will not work, and accordingly no currency will be sold. -71D-
Economics
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The ASCO-owned ferry "Shahdag," freshly refurbished, has resumed operations on the Azerbaijan-Kazakhstan route, aiming to alleviate severe truck congestion at ports on both sides of the Caspian Sea.
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But Putin Says It's "Virtually Impossible" Due to Zelensky's Position Slovak Prime Minister Robert Fico visited Moscow on Sunday to discuss energy issues, becoming the third EU country leader to hold talks with Vladimir Putin since Russia's 2022 invasion of Ukraine. Prior visits include Austrian Chancellor Karl Nehammer in April 2022 and Hungarian Prime Minister Viktor Orbán in July 2024. Slovakia is also a NATO member.
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Environmental, Social, and Corporate Governance (ESG) principles have emerged as a transformative force in modern business practices, reshaping priorities across industries. This was a key theme highlighted by Orkhan Mammadov, Chairman of the Management Board of the Small and Medium Business Development Agency (KOBIA), at the conference "Labor Relations, Occupational Safety, and Human Resources as Key ESG Approaches," held on Monday in Baku.
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A detailed review of legislative norms and e-government services across various business environment domains has been prepared and published by the working group of the Business Environment and International Ratings Commission, focusing on electricity network connections.
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