The Central Bank of Azerbaijan (CBA) raised 9.98 billion manats from banks at deposit auctions in 2017, the CBA said on January 4. The demand from banks amounted to 25.56 billion manats, which exceeded the supply nearly 2.6-fold. The interest rate on deposit transactions concluded within the framework of the auctions was 10.01-14.87% during the…
Export of energy resources, including gas and liquefied gas to third countries through the territory of Kazakhstan and Azerbaijan will strengthen the transit cooperation between the two countries, Ambassador Extraordinary and Plenipotentiary of Kazakhstan Beibit Isabayev declared. “Recently we’ve held a meeting of the intergovernmental commission between our countries, where we have approved of a…
Iranian Consul General to Azerbaijan’s Nakhchivan Autonomous Republic Mansour Airom has expressed hope that re-launching the Mashhad-Nakhchivan train will help boost tourism in the neighboring countries over the next year. Iranian and Azerbaijani railways officials are making efforts to re-launch the Mashhad-Nakhchivan train in the early days of January 2018, the envoy said. He added…
Development of small and medium-sized enterprises (SMEs) plays one of the most important roles in the development of the Azerbaijani economy, Deputy Economy Minister Sahib Mammadov declared in Baku on December 26. He was speaking at an event dedicated to establishment of cooperation between SMEs and the Center for Simplified Support for Family Business (ABAD).…
Azerbaijan will launch the production of Tatra trucks from 2018, the Azerbaijani embassy in the Czech Republic said. A memorandum was signed between Ganja Automobile Plant production association and Tatra company at the embassy of the Czech Republic in Azerbaijan. The document was signed by head of Ganja Automobile Plant Khanlar Fatiyev and chairman of…
The Baku Stock Exchange (BSE) has registered the issue prospectus of interest-bearing book-entry registered unsecured bonds of OJSC Unibank, said the BSE in a message on December 18. One thousand bonds at a par value of $10,000 each have been issued. The yield on the bonds will be 6% per year. Unibank has been operating…
The UN predicts an increase in Azerbaijan’s GDP by 1.8% in 2018, according to the “World Economic Situation and Prospects-2018” (WESP) report prepared by the UN Department of Economic and Social Affairs. According to the report, Azerbaijan’s GDP will decrease by 1% in 2017 and will grow by 2.3% in 2019. The restoration of the…