Economics - 2016
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In 2015, the government began to implement three new international projects, which are provided under the state guarantee. According to the Ministry of Economy, in 2015 implementation of 41 pro...
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A decree amending the Charter of the State Oil Company of the Azerbaijan Republic was signed by President Ilham Aliyev on 26 February. According to the changes, the Council, which operated under th...
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Falling oil prices and a recent currency devaluation are spurring businesses to lay off workers in Azerbaijan. But, in a sign of the political sensitivity of the country’s economic downtown, some c...
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At today's currency auction Central Bank of Azerbaijan (CBA) has sold $50 million to24 banks. However, the official report of the Central Bank does not specify how much was satisfied the demand fo...
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JSC Azerbaijan Investment Company (AIC) ceased its presence in the Garadagh cement plant by selling a 10% stake in JSC Holcim (Azerbaijan) to one of the existing shareholders. This is stated in the...
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The head of the Central Bank (CBA) Elman Rustamov reiterated that new devaluation in Azerbaijan will not happen. "The manat has become stronger to foreign currencies in recent days. Furthermore...
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The bank JSC «United Credit Bank» has been officially declared bankrupt. According to the decision of the Baku Administrative-Economic Court N1, published by the liquidator (LLC Azerbaijan Internat...
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On February 24 in Baku after 20 years of cooperation with Azerbaijan opened an office of partnership and coordination of the Food and Agriculture Organization (FAO) of the United Nations. At the c...
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In 2015 a kilo of imported butter in the Azerbaijani was registered at Customs at an average of $1.62. Moreover, prices for imported goods were declared by 36.5% lower than in 2014. In reta...
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In 2015 Azerbaijan received a total of 6,332 bcm of gas from BP-Azerbaijan company. Of this volume over 3.1 bcm was associated gas from the oil bloc Azeri-Chirag-Guneshli (ACG) and about 3.2 bc...
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In January 2016 passenger flow in the Baku Metro decreased by 8.2%. The declining trend in passenger carriage on the subway is fixed for the first time since 2011, when the cost of travel on the...
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SOCAR and "Transneft" signed an agreement on Azeri oil transportation via Baku-Novorossiysk pipeline since March 1, 2016, the Petroleum Information Agency (ANI), adviser to the president of Russian p...
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On the background of the financial crisis, followed by a massive reduction in the banking system, a local insurance company AXA MBASK has announced the recruitment of specialists for sales services. E...
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The depositors of bankrupt OJSC «Texnikabank», «Bank of Azerbaijan» and «Ganjabank» received in the form of compensation for insured deposits total 63,275,000 manats. According to the Azerbaijan Depos...
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The volume of remittances to Azerbaijan from abroad reduced last year. As stated in the report on monetary policy on the website of the Central Bank (CBA), compatriots living abroad, and this i...
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SOCAR Trading company intends to resume trade ties with Iran, Arzu Azimov, SOCAR Trading Executive Director, said in his interview to Reuters. “Before introduction of the sanctions against Ira...













