British magazine “The Banker” included the International Bank of Azerbaijan (IBA) in the TOP-1000 of the most powerful and financially sustainable banks in the world. According to the ranking, the IBA is among TOP-25 of the best banks within the Central and Eastern Europe region based on assets volume, capital adequacy, ROA and ROE. “The…
Assets of the State Oil Fund of Azerbaijan (SOFAZ) increased by 4.6% and amounted to $35.1 billion as of July 1, as compared to $33.57 billion in early 2016, SOFAZ said in a report. SOFAZ’s revenues totaled almost four billion Azerbaijani manats during the H1 2016, and expenditures were almost at 2.256 billion manats. During…
The total volume of foreign investments in Azerbaijan’s fixed capital increased by 32.3% to 4.26 billion Azerbaijani manats in January-June compared to the same period of 2015, said the report issued by the country’s State Statistics Committee on the results of H1 2016. Some 88.5% (3.77 billion manats) of foreign investments, provided by foreign countries…
Azerbaijan’s Cabinet of Ministers has approved the “Rules of exempting trucks, trailers and semi-trailers of foreign states from road tax and state fee”. The rules became valid on June 1, and will be in effect for three years. The rules apply to foreign vehicles carrying freight to Iran and Turkey as well as from Iran…
Azerbaijan and Afghanistan discussed the creation of joint enterprises to produce food products, said Azerbaijan’s Economy Ministry. The discussions were held within the meeting of Azerbaijan’s Economy Minister Shahin Mustafayev with Afghanistan’s Ambassador to Azerbaijan Mohammad Taqi Khalili. The economic cooperation between the two countries and other issues of mutual interest were also discussed during…
Azerbaijan’s state oil company SOCAR put into operation the well #43 on the offshore platform #10 of the Gunashli field after renovation, the company said. This is the first well on the platform #10, which was put into operation after the fire on December 4, 2015. SOCAR will additionally produce 36,500 tons of oil annually…
2489988 tons of Azerbaijani oil were transported via BTC main export pipeline in June. 14930790 tons of oil were transported via this pipeline in January-June. In general, 307.6 million tons of oil have been pumped to BTC since the start of pipeline exploitation until July 1. In addition, overall 371.2 tons of Turkmen oil were…