The development of cotton growing, problems with issuing loans by banks, and the reasons for the decline in oil production in Azerbaijan are the leading topics of today"s press.
The newspaper Azerbaijan writes about the development of cotton growing in the country. The author tells about his meeting with a cotton grower of the village of Alvand of the Zardab district, Sura Miralieva. Despite the fact that this autumn showed its stern face early, cotton growers harvest at least 120-130 kg of cotton daily. This year from each hectare it is planned to harvest 30-32 quintals of cotton.
The newspaper Echo published an article on abuses in banks that issue loans outside the legal field. The Central Bank of Azerbaijan claims that the average interest rate on loans for individuals in foreign currency is 16.25%, and the same index in AZN is 16.10%. In reality, it is simply impossible to obtain a loan at these rates.
The Financial Markets Supervision Authority (FIMSA) banned banks from issuing loans in foreign currency. In addition, FIMSA tightened the requirements for lending, and this is the right decision. Banks took a responsible approach to assessing the financial position of their client.
As for the national currency, the Central Bank issues AZN loans to banks at 15%, that is the current discount rate of the Central Bank. Will commercial banks, taking a loan at 15%, start issuing money almost at the same rate?
The newspaper Novoye Vremya writes about the situation in the oil and gas sector, where the decline in oil production has reached 8%. Decrease in GDP in the oil sector is the indicator of common problems with the extraction of "black gold". SOCAR does not inform for what reasons there is a reduction in production. As it seems, if this were somehow connected with the OPEC + decision to reduce oil production, then this would have been announced. Apparently, the decline in oil production is due to other factors unknown to common people.
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Last evening and night, marble “monuments” from the time of Hajibala (former mayor of the capital) once again reminded the residents of Baku of themselves. Underground passages and tunnels, decorated with marble and not equipped with an appropriate drainage system, caused a real flood in a number of districts of the capital.
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The leading mobile operator brings together literature enthusiasts as part of the “Book Club” project Azercell remains dedicated to preserving Azerbaijan’s literary heritage through its ongoing "Book Club" initiative. On October 25, the company will host a literary evening with the participation of contemporary writer Jeyhun Hidayatly, narrator Khazar Suleymanly, and screenwriter Azer Aydemir.
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The rain that started in Baku on October 21 will continue until noon on the 22nd. In several areas of Absheron, the precipitation will be heavy with thunderstorms. In the regions of the country, the rain will last until October 23. Most of the country will experience intense precipitation with hail. In the mountains, it will snow. An increase in water levels in mountain rivers is expected, which may lead to mudslides.
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Precipitation will occur in some places in Baku and Apsheron peninsula on Sunday, 20 October. At night, rain will intensify in Absheron, there is possibility of thunderstorms. Precipitation In the afternoon will gradually stop.
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