Capitalization of Azerbaijan’s banking sector amounted to 4.24 billion manats in February, up by 4.2% MoM, the Financial Market Supervisory Authority of Azerbaijan (FIMSA) reported. Over the year, the capitalization of banks increased by 9.2%. The special capital of banks in the reporting period amounted to 3.96 billion manats compared to 3.79 billion manats at…
An increase of at least 15% is expected in Azerbaijan’s persimmon output in 2019, Chairman of the Persimmon Producers and Exporters Association Gadir Yusifov announced. The chairman underlined the intensive growth in the agricultural sector of Azerbaijan. In particular, he highlighted the correct pruning of trees in 95% of all regions of the country involved…
The volume of freight turnover of railway transport in Azerbaijan is planned to be increased to 5.3 ton-kilometers in 2019, or by 17.7% YoY. According to government forecasts, the turnover will increase in subsequent years. As such, this figure will stand at 5.9 billion ton-kilometers in 2020, 6.6 billion ton-kilometers in 2021, and 7.4 billion…
Sharg Ulduzu OJSC, Azerbaijan’s winemaking plant located in Shamkir district, plans to export its products to Japan, Head of the company Asgar Alyrzayev declared. He said that this opportunity might appear this year through the company’s participation in the upcoming exhibition in that country. “We are constantly looking for potential partners abroad, we expect to…
An auction for placement of 15 million manats worth mid-term bonds of Azerbaijan’s Ministry of Finance will be held at the Baku Stock Exchange (BSE) on March 19. Some 1.5 million securities at a par value of 100 manats each and a maturity period of 1,092 days will be put up for the auction. The…
A new airport is planned to be built in Shaki district in 2022-2023, the Cabinet of Ministers reported. The construction is mentioned in the strategic plan of Azerbaijan Airlines CJSC for 2018-2025. Recently, a new airport has been built in the Gabala district and the airport in the Zagatala district reconstructed. The largest airport in…
Azerbaijan and Saudi Arabia will discuss expansion of cooperation in the field of energy, agriculture and the IT sector, Azerbaijan’s Finance Ministry reported. These issues will be included in the agenda of the meeting of the fifth joint intergovernmental commission of the two countries to be held on March 4. The parties will also discuss…