Several greenhouse farms suspended their activity in Azerbaijan
Economics
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In a move aligned with forecasts from international analysts, the Central Bank of Azerbaijan (CBA) announced a reduction in the discount rate from 7.75% to 7.5%. Additionally, the upper limit of the interest rate corridor was adjusted downward from 8.75% to 8.5%, while the lower limit remained unchanged at 6.25%. This decision, unveiled by the CBA, reflects a strategic response to evolving economic conditions and aims to recalibrate monetary policy in line with prevailing trends.
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Azerbaijan and Turkmenistan have expressed their desire to co-operate in the field of insurance. This was announced following a meeting between the executive director of the Azerbaijan Insurers Association Elmar Mirsalayev and Turkmenistan's Ambassador to Azerbaijan Gurbanmammet Eliasov.
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In the first months of the year, there were intriguing shifts and fluctuations in the export of Azerbaijani oil. According to data published by the State Customs Committee of Azerbaijan, in January-February 2024, the country exported 4,595,490.11 tons of crude oil and petroleum products obtained from bituminous rocks, which represents a decrease of 11.2% compared to the same period last year.
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Visa and Mastercard, two longstanding giants dominating the payment card market, have reached agreements to slash interbank fees. This pivotal moment, occurring on March 26, marks the conclusion of nearly two decades of litigation, signaling the end of an era characterized by hegemony in the sector.
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