Ineffectiveness of anti-crisis measures of the government, instability of banks and bad loans are the main topics of today's press.
Azadlig published an article: Government Receives “Two” for Anti-crisis Measures, in which the expert Nemat Aliyev discusses anti-crisis measures. He believes that the failure is related to the lack of understanding by the government of the entire magnitude of the problem or the lack desire to understand it. The main anti-crisis measures should take place in the development of non-oil sector. If there are no positive results, then the measures are taken in the wrong direction. Corruption and bribery cannot be discounted. We should create normal conditions and environment for economic development. The country's GDP is reduced, increasing financial losses, the expert said.
Echo published an article Which Banks in Azerbaijan Can We Trust? "Given the current state of the banking system of Azerbaijan, unfortunately, we cannot completely trust any bank in the country. The fact is that the banking system is dependent on other financial institutions, and while unreliable banks operate in the market, the banking system of the country is at stake. However keeping money "under the pillow" is also dangerous. It is safest to trust money to banks that do not hide their financial statements. There are about 10-12 of them in the Azerbaijani market. But there is no guarantee that one or another bank does not embellish its accounts. Despite the fact that none of the Azerbaijani banks can boast with its reliability, theoretically possible is exception of banks, where the state's share exceeds 50%. According to the legislation, if these banks go bankrupt, the government will have to compensate customer deposits.
Yeni Musavat discusses the issue of problem loans with the expert Vugar Bayramov. The expert believes that the amount of bad loans is about 1 billion 500 million USD. In reality, however, this figure is more. The banking system is not willing to make concessions in the interests, and the Central Bank hesitates.
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After introducing six innovative products to its subscribers in a short time, Bakcell was honoured with the "Most Successful Rebranding" award at the prestigious international advertising and marketing competition "Felis." The award ceremony took place at the traditional "Brand Week" event held on 8 November 2024 in Istanbul.
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The International Coalition for Democratic Renewal (ICDR) and Forum 2000 Foundation expressed grave concerns over the escalating repression of civil society in Azerbaijan, issuing a joint statement. The groups highlighted the government's intensified crackdown on lawyers, journalists, activists, and human rights defenders, painting a stark picture of a country where dissenting voices are systematically silenced.
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The Times Higher Education (THE), a leading international organization with an audience of 60 million and ranked among the world's top 100 networks in the field of education and skills assessment, has published a comprehensive article titled “Calls for the Release of Azerbaijani Scholar as Climate Summit Begins.” THE, known for its annual ranking of world universities, notes that while a major fossil fuel producer hosts a gathering of global leaders, it is cracking down on dissenters. Human rights groups are urging the Azerbaijani government, which is hosting the COP29 climate conference, to release a scholar detained after criticizing fossil fuel policies.
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On Thursday, overcast weather is expected in the capital will be overcast, with light rain possible in the morning. There will be a moderate southeast wind. The temperature at night will be between +8 and +10°C, and during the day, it will range from +12 to +15°C. Humidity will be 65-75% both at night and during the day. Precipitation will occur in the eastern part of the country. There may be fog in some areas, with a moderate east wind.
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