An agreement has been reached between Farma-Shah LLC (Azerbaijan) and a Turkish company on the export of Azerbaijani tea to Turkey, the Ministry of Economy said in a statement on November 6. Also, the negotiations on the export of raw materials used as an additive in cement production have been held between Nakhchivan Cement Plant…
In 2018 the volume of money supply in the economy of Azerbaijan has grown by more than 8%, Elman Rustamov, the Chairman of the Central Bank, said at a meeting with members of the American Chamber of Commerce in Azerbaijan (AMCHAM). Rustamov noted that despite the fairly large liquidity in the banking sector, there were…
By 2030 there are plans to reduce the unemployment rate to 4% in Azerbaijan, as well as to bring the unemployment rate among women and youth to a minimum, according to the Employment Strategy of Azerbaijan for 2019-2030. The unemployment rate in Azerbaijan in 2017 was 5%, the unemployment among women was 5.9%, among young…
In the first nine months of 2018 the trade balance surplus in Azerbaijan was 19% of the GDP, Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov said at a press conference in Baku on October 30. Rustamov stressed that export of the non-oil goods in January-September increased by 13% YoY. Moreover, he stressed…
The capitalization of the banking sector of Azerbaijan in September amounted to 4.1 billion manats, up by 10.8% from the beginning of the year, said the report of the Financial Market Supervision Authority. According to the report, the total assets of banks since the beginning of the year have increased by 20.6%, reaching 29.2 billion…
The “Whiskey Live Warsaw” festival has been held in the capital of Poland – Warsaw city, during which the Azerbaijani-made alcoholic beverages have been demonstrated at the “Made in Azerbaijan” stand, the Ministry of Economy said. The wines and various types of fruit vodkas, brandy, whiskey, presented at the Azerbaijani stand, being the most visited…
Kapital Bank, a major retail bank in Azerbaijan, plans to change the principle of making dividend payments to its shareholder from next year, the international ratings agency Moody’s Investors Service said in a message. Moody’s notes that presently the bank pays out all of its profits to shareholders as dividends, but from next year it…