Azerbaijan’s Rabitabank and Unibank have made a joint decision to issue syndicated loans, the Unibank said in a statement on September 4. The message said a “Protocol of intent”, implying the issuance of joint syndicated loans, was signed between the banks. The syndicated loans are usually issued to business customers by two or more banks.…
The Azerbaijan-Iran car plant Khazar intends to start exporting cars to Russia and other CIS countries in 2019, Veronika Allahverdiyeva, official representative of the Azerbaijani AzerMash automobile company, declared. Allahverdiyeva made the remarks on the sidelines of the Moscow International Automobile Salon in Crocus Expo International Exhibition Center. Azerbaijani “Khazar” cars are showcased at the…
The Central Bank of Azerbaijan (CBA) received 350 million manats from banks at a deposit auction on August 27, CBA said in a message. According to the message, the demand at the auction amounted to 503.4 million manats. The weighted average interest rate on deposit transactions concluded within the auction was 8.01%. The CBA has…
Iranian automobile manufacturer “Iran Khodro” intends to launch a second line of production in Azerbaijan, said Mohsun Salehi Iran’s deputy minister of industry, mining and trade. This step will allow the company to expand its production in Azerbaijan. “At present “Iran Khodro” intends to increase the current production capacity to raise the daily vehicle output…
Azerbaijan’s GDP volume reached almost 43.48 billion manats in January-July, up by 0.2% YoY, according to a report of the State Statistics Committee. The volume of GDP per capita stood at 4,436.3 manats. In January-July the volume of GDP produced in the non-oil sector of Azerbaijan increased by 0.9%, while in the oil and gas…
Azerbaijan intends to reduce dependence on imports of basic dairy products, Chairman of the Public Association “Producers and Exporters of Milk and Dairy Products of Azerbaijan” (ASEB) Samir Eyyubov declared. “Two main types of production can be distinguished in the dairy industry – the production of butter and the production of yellow cheese varieties. The…
Azerbaijan plans to produce 200,000 tons of persimmons by the end of this year, which will slightly exceed last year’s figure, Chairman of the Association of Persimmon Producers and Exporters Gadir Yusifov reported. According to him, persimmon export brought the state treasury a significant income of $100 million in 2017. “This is a fairly good…