Azerbaijan to launch direct flights to Croatia

Azerbaijan offers Croatia to launch direct flights for development of tourism, Azerbaijani Economy Minister Shahin Mustafayev said. Mustafayev made the remarks at a meeting with Croatian Deputy Prime Minister, Minister of Economy, Entrepreneurship and Crafts Martina Dalic in Baku, the Azerbaijani Economy Ministry reported on November 29. Speaking about cooperation between the two countries, Mustafayev…

Azerbaijan: four bridges constructed

Four bridges have been constructed in Azerbaijani Agstafa district, Azeravtoyol OJSC reported. Three bridges were built on the Agstafa-Poylu-Georgian state border highway and one bridge on the Agstafa-Poylu-Duzgishlag-Gazakh highway to ensure comfortable and safe movement of the citizens. New bridges were built across Agstafachay, Ajiderechay and Kura rivers, as well as over the railway. The…

Azerbaijan: banks to continue consolidating

Azerbaijan’s banks will get bigger in 2018, through the ongoing consolidation as well, Anar Hasanov, first deputy chairman of Azerbaijani AccessBank’s Management Board, said. “I believe that new bank merger cases will occur on the market in 2018,” he declared. “The banking sector is moving in this direction and local banks will be enlarged. It…

Azerbaijan: banking sector stabilized

Azerbaijani banking sector stabilized after creditors restructured $3.3 billion in foreign obligations of the state-owned International Bank of Azerbaijan (IBA) in return for government bonds, said Nariman Mannapbekov, head of ADB Azerbaijan office. “Some capitalized banks are making initial efforts to gradually build-up their loan portfolios,” Mannapbekov said. On July 15, 2015, President of Azerbaijan…

Azerbaijan: railways to buy 900 new cars

Azerbaijan Railways CJSC will buy 900 new freight cars in the near future, says a report on implementation of measures reflected in the Strategic Roadmap for the Development of Logistics and Trade in Azerbaijan. According to the report, the purchase of additional cars is related to an increase in freight traffic volume. Azerbaijan Railways will…

Azerbaijan studying possibility for banks’ merger

Azerbaijan’s Financial Market Supervisory Authority is studying the possibility of local banks’ merger, according to the monitoring report on the implementation of measures reflected in the Strategic Roadmap for the Development of Financial Services. The possibility of further capitalization of the banks is also being considered, according to the report. The Financial Market Supervisory Authority…