Economics - 2016
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On Monday, the Central Bank announced the official rate of the manat to the US dollar on December 27, retaining its previous level - 1.7622 manat per dollar, according to a Central Bank report. The ...
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The Ministry of Agriculture has sent to the Ministry of Finance documents on subsidies to owners of cattle for each bull, obtained by artificial insemination. Within two months subsidies for lives...
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On December 26 the Central Bank of Azerbaijan raised 30 million manat on the deposit auction against the planned 50 million manat. The funds were raised for 14 days at the weighted average rate of 14....
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Azer Aliyev has been appointed Chairman of the Board of the insurance company Ateshgah Hayat. Aliyev previously served as Deputy Chairman of the Board. The previous Chairman of the Board A. Madatl...
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The State Customs Committee as of December 24 collected 2 billion 228.6 million manat to the state budget. This is by 23.2% or 419 million manat more than the annual forecast plan, the SCC press servi...
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SOCAR has put into operation a well in Oil Rocks after the overhaul, according to information on the SOCAR website. Well №2646 was previously drilled from the offshore platform №1637A. The daily d...
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According to government forecasts, for the consecutive two years Azerbaijan is expected to decline oil production at the level of about 950 thousand tons. Turan IA reports, citing the official dat...
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Gold is the property of the people and therefore the public should be informed about its use, the economist Samir Aliyev said. Responding to Turan, the economist said SOFAZ issues unsatisfactory co...
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The non-bank credit organization Finoko plans to issue 610 bonds at par value of $ 1,000 each. The yield of the bonds with a circulation period of three years will be 14% per annum. The bonds...
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SOCAR Trading (trading "daughter» of SOCAR) will supply crude oil and liquefied natural gas to Poland, the Azerbaijani Embassy in Warsaw stated. «SOCAR Trading and the Polish oil company Lotos...
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From January 1st a new tax will enter into force in Azerbaijan – AZN per 100 square meters for non-agricultural land. As Turan was told in the Ministry of Agriculture, a draft has been prepared...
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The International Monetary Fund published a report on the situation in the gold market in November 2016. According to the report, Azerbaijan has sold 12% or 2.6 tons of gold reserves in the wor...
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The Central Bank has not changed the dollar rate on December 26, leaving it at the level 1.7622 manats. The vast majority of commercial banks do not sell foreign currency to population. On the black...
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SOCAR (the State Oil Company of the Republic of Azerbaijan) and AIOC (the Azerbaijan International Operating Company) today signed a letter of intent (LoI) for the future development of the Azeri-Chir...
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On December 22 JSC Uni Bank completed the repayment of interest-bearing bonds totaling 20 million manat. According to the report on BSE, in the bond redemption their owners received an additional...
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One of the three Chief Executive Officers of the International Bank of Azerbaijan Hidayat Sultanov has left the office. The bank’s website currently indicates only two people as CEOs - Fuad Islamo...









