Currency reserves of the Central Bank of Azerbaijan (CBA) amounted to $5,534.5 million at the end of September 2018, up by $367 million or by 7.1% YoY, according to statistical data posted on the CBA website. CBA’s reserves increased by $31 million during September, while since early 2018 the figure has increased by $199.9 million.…
Nakhchivan Automobile Plant is implementing a project for production of electric cars, which, along with being cost-effective, are environmentally friendly, Director of the Nakhchivan Automobile Plant Musa Abdullayev reported on October 3. At the same time, the plant ordered ambulances based on a LIFAN commercial minivan and the first models would be assembled in early…
The European Bank for Reconstruction and Development (EBRD) has sold its stake in Holcim Azerbaijan (Garadagh Cement Plant) to one of the shareholders, spokesman for EBRD, Anton Usov, declared. The EBRD shares in Holcim Azerbaijan (10%) was sold to LafargeHolcim, he added. Usov refused to disclose the amount of the deal, mentioning the confidentiality of…
As of October 1, assets of the Azerbaijani Armed Forces Relief Fund was more than 94 million manats, over $213,577, 12,436 euros, and 5,000 Russian rubles, the press service of Azerbaijan’s Defense Ministry said in a message. The Armed Forces Relief Fund was created by a presidential decree on August 17, 2002. The Fund is…
Work on the reconstruction of the Baku-Yalama railway is scheduled to begin in 2019, the chairman of the Azerbaijan Railways CJSC, Javid Gurbanov announced. “Tender documents will be signed soon. The length of the railway is about 200 kilometers. Also, work is underway to move the 313 kilometers-long Baku-Astara railway, a part of which lies…
A new highway is planned to be built from Baku to the Russian border until 2020, Azerbaijani Minister of Economy Shahin Mustafayev said. Mustafayev made the remarks at the round table meeting on “Strengthening of Cooperation in Transport and Transit Transport”, which is being held at the 9th Azerbaijan-Russia Interregional Forum in Baku on September…
Draft state, consolidated budgets of Azerbaijan for 2019 and indicators of the consolidated budget for the next three years have been submitted to Azerbaijani President Ilham Aliyev. The corresponding decision, published on September 26 in the newspaper “Khalg Gazeti”, was signed by Azerbaijani Prime Minister Novruz Mammadov. Also, the “Concept and Indicators of Azerbaijan’s Economic…