The significance of the Non-Alignment Movement for Azerbaijan, the situation with interest rates on loans, problem loans are the leading topics of today's press.
The newspaper "Azerbaijan" writes about the Baku 18th Ministerial Conference of the Non-Aligned Movement, noting that this conference will contribute to the cause of international peace and sustainable development. The author cites quotes from President Ilham Aliyev's speech at the conference, which became a historic event for Azerbaijan.
The newspaper "Echo" together with the expert discusses the absurdity of the situation in the country from the economic point of view. In Azerbaijan, from an economic point of view, an absurd situation has developed. Not so long ago - until 2016 - the discount rate of the Central Bank of Azerbaijan was at the level of 3%. However, after two devaluations of the national currency of the Azerbaijan Republic, the discount rate rose to 15%. The discount rate sets the value of money, which, in turn, affects lending volumes. The increase in the discount rate led to an increase in interest rates on loans for citizens and business structures. Naturally, this lowered the overall demand, and economic activity fell markedly. Consequently, the rate cut stimulates economic activity, gives rise to production, so the Central Bank decided to slowly lower the rate two years later.
The Yeni Musavat newspaper published an article on problem loans, believing that banks do not want to solve this problem. The bulk of loans were issued to officials, with no collateral. As of February 1 this year, the volume of problem loans is 1 billion 695.9 million manats.
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On November 1, the weather in the capital will be cloudy, with light rain in some areas during the night and morning. There will be a moderate southwest wind. The temperature at night will range from +7 to +10°C, and during the day it will be +12 to +15°C. Humidity will be 70-80% both at night and during the day. No precipitation is expected across the country. There may be fog in some areas, with a moderate west wind.
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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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