Azerbaijani Central Bank (CBA) in the sixth deposit auction attracted 20 million manats instead of the planned 50 million manats on August 1.
Demand of the banks was limited to 20 million AZN. The weighted average interest rate on deposit transactions was 6.9%. The term of the deposit is 28 days.
The first deposit auction was held on June 13 and attracted 129 million AZN, while 50 million AZN was drawn on the fifth auction. -0--
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved the application form specified in Article 30.1 of the Competition Code. This decision aims to align with the President’s decree No. 1051-VIQ dated December 2, 2023, and address regulatory requirements related to the implementation of the Competition Code.
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Azerbaijani President Ilham Aliyev has issued a decree amending the Land Code of the Republic of Azerbaijan, effective January 2025. The legislative adjustments aim to refine the management and use of agricultural land and enhance regulatory processes.
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