In the first half of 2016 the assets of the non-bank credit organization FINCA in comparison with the beginning of the year decreased by 25 million 33 thousand manat, or 10.8%, amounting to 205 million 576 thousand manat.
Obligations of the organization were reduced by 0.95% for the reporting period (1 million 957 thousand manat) to 202 million 176 thousand manat.
During this period, the capital of the lending agency amounted to 3 million 401 thousand manat (decrease of 87.1% or 23 million 75 thousand manat).
In the first half of 2016 losses of FINCA amounted to 23 million 75 thousand manat. -----71D
Economics
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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