The trade turnover between Azerbaijan and the US has been growing this year, Azerbaijani Deputy Minister of Economy Sahil Babayev declared on October 16. “The trade turnover between Azerbaijan and the US amounted to $416 million in January-August, which is by 7% more than in the same period of 2016,” he said. “Of course, this…
An association of tea producers and exporters will be established in Azerbaijan, Rufat Mammadov, head of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO), said. “We are working on this and an association will be established soon,” he added. “Moreover, we are working to establish associations of producers and exporters of date and tobacco.” Sectoral…
The Baku Stock Exchange (BSE) held an auction on placement of short-term notes of Azerbaijan’s Central Bank (CBA) in the amount of 150 million manats with a maturity of 28 days, BSE said. The demand during the auction once again exceeded supply – banks submitted applications for 431.9 million manats. The entire amount put up…
Azerbaijan’s export of fruit and vegetable products increased by 63% in terms of volume in January-September as compared to the same period 2016, said Chairman of the State Customs Committee Aydin Aliyev. Aliyev made the remarks addressing an Azerbaijani-German business forum in Baku on October 11. He noted that during the period, export of plastics…
The Central Bank of Azerbaijan (CBA) raised 100 million manatsat a deposit auction, the CBA said on October 9. The CBA was ready to receive 456.3 million manats from banks, and therefore, the demand exceeded supply almost 4.6-fold. The weighted average interest rate on deposit transactions at the auction was 10.01%. The CBA started holding…
Azerbaijan’s banks will get bigger in 2018, through the ongoing consolidation as well, Anar Hasanov, first deputy chairman of Azerbaijani AccessBank’s Management Board, said. “I believe that new bank merger cases will occur on the market in 2018,” he declared. “The banking sector is moving in this direction and local banks will be enlarged. It…
Azerbaijani banking sector stabilized after creditors restructured $3.3 billion in foreign obligations of the state-owned International Bank of Azerbaijan (IBA) in return for government bonds, said Nariman Mannapbekov, head of ADB Azerbaijan office. “Some capitalized banks are making initial efforts to gradually build-up their loan portfolios,” Mannapbekov said. On July 15, 2015, President of Azerbaijan…