BAKU/17.12.13/TURAN : International rating agency Moody's Investors Service upgraded the long-term rating of Bank Respublika from B2 "stable" to B2 "positive".
As said in a statement , Moody's analysts confirmed bank financial strength rating of E + and long-term bank deposit rating in national and foreign currency. Conclusion agency based primarily on the financial statements for 2012 and on October 1, 2013 .
Assessing the prospects for Bank Respublika, Moody's analysts noted that the increase in the forecast is based on factors such as prolonged positive financial performance, a high level of profitability , asset quality and strong capitalization . -15D -
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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