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…
Confectionery factory Ulduz plans to expand its exports in the near future, the company’s director of sales and exports Sergei Spiridonov reported. The company’s products are present on Georgian, Turkmen and Russian markets, he said. “We are currently working with Ukraine, Malaysia, Israel and Saudi Arabia. Our products are also represented in Iraq. We are…
Azerbaijan enjoys a vast potential of renewable energy sources and strives to make use of it. In 2018 electricity produced from renewable sources will exceed 10% of the total energy generated in Azerbaijan, Deputy Chairman of The State Agency on Alternative and Renewable Energy Sources of the Republic of Azerbaijan Jamil Malikov declared. It is…
Azerbaijan may export pomegranates to four EU countries – Germany, France, Latvia and Poland. This was stated by secretary of the Association of Manufacturers and Exporters of Pomegranate Shahin Hasanli. Negotiations are underway in this direction, the conclusion of contracts is expected, he stressed. The representative of the association noted that this year the growth…