As of April 4, Azerbaijan Deposit Insurance Fund (ADIF) paid compensations worth 45.5 million manats to the depositors of Azerbaijan’s DemirBank OJSC, the license of which was revoked in December 2017, the ADIF said in a message on April 4. The volume of compensated deposits in DemirBank totals 63.5 million manats, while the volume of…
The Ganja Automobile Plant has produced 10,000th Belarus tractor, the plant reported. Belarusian Deputy Prime Minister Vladimir Semashko, Azerbaijani Deputy Prime Minister Yaqub Eyyubov, Ambassador of Belarus to Azerbaijan Gennady Akhramovich, Director General of the Minsk Tractor Plant Fyodor Domotenko, Director General of the Minsk Automobile Plant Dmitry Katerinich, Head of the Ganja Executive Power…
Iran has concluded an agreement with Azerbaijan for the purchase of 150 megawatt of power, a senior official said. Iran’s Energy Minister Reza Ardakania said that the agreement on his country’s power purchase from Azerbaijan was made during the recent visit of President Hassan Rouhani to Baku. The minister added that the two countries currently…
Veyseloglu company intends to expand the promotion of the “Made in Azerbaijan” brand, the company’s General Director for Business Development Ilgar Nuri said at a press conference in Baku on March 29. Presently, about 20% of products of the Ulduz chocolate factory, belonging to the company, is being exported, he said. Today, the company is…
Azerbaijan’s President Ilham Aliyev has signed an order regarding measures to improve education infrastructure in Bilasuvar, Beylagan, Imishli, Neftchala and Saatli districts. Under the presidential order, 4,172,000 manats have been allocated to the Ministry of Education for the construction of 12 modular schools for 824 pupils in five districts. The advantages of modular schools include…
Russia and the CIS countries are currently the priority markets for the export of Azerbaijani fruit and vegetable products, Bashir Guliyev, chairman of Fruit and Vegetable Producers and Exporters Association of Azerbaijan, declared. “As of today, the Russian market is the main export direction for us. Azerbaijan also exports to CIS countries, mainly to those…
The International North-South Transport Corridor will make a significant contribution to increase in cargo transportation through Azerbaijan, the Black Sea Trade and Development Bank (BSTDB) declared. “BSTDB is interested in such infrastructure projects,” the bank said. “The North-South project is a regional initiative covering several BSTDB member-states, which is another reason for BSTDB to support…