Azerbaijan is an important partner for Latvia, both in economic and political terms, said Latvian Transport Minister Uldis Augulis. He made the remarks at a meeting of the Latvia-Azerbaijan Intergovernmental Commission for Economic, Scientific, Technical and Cultural Cooperation in Baku on June 20. The minister said there were many spheres that had big potential for…
Azerbaijan’s GDP volume reached 25.34 billion manats in January-May, down by 0.9% YoY, according to a report of the country’s State Statistics Committee. GDP volume per capita reached 2610,3 manats. Meanwhile, the volume of Azerbaijan’s non-oil GDP rose by 2.3% in January-May as compared to the same period of 2016. The volume of Azerbaijan’s GDP…
Azerbaijan Caspian Shipping CJSC transported more than 1.55 million tons of liquid cargo on its tankers and ferries in January-May, up almost 2-fold YoY, the company said in a message on June 16. In the first five months of 2017, Azerbaijan Caspian Shipping transported 660,870 tons of dry cargo, up by 54,150 tons YoY. The…
The situation with approval of voluntary restructuring plan of foreign obligations of the International Bank of Azerbaijan (IBA) by foreign creditors will be clarified by mid-July, Azerbaijan’s Finance Minister Samir Sharifov declared on June 13. “We have already informed the public about the negotiation process,” said the minister. Earlier, the IBA commenced a process of…
Azerbaijan’s Rabitabank OJSC plans to increase its authorized capital through the new issue of shares, according to the bank’s message. The issue will be discussed during the extraordinary meeting of the bank’s shareholders, to be held on July 14. Meanwhile, the changes to Rabitabank’s regulations will also be discussed in connection with the new issue…
Standard & Poor’s (S&P) Global Ratings expects that Azerbaijan’s Kapital Bank OJSC will likely increase its already material market share, while its operating revenues continue increasing progressively and its profitability remains high, according to an S&P report. S&P confirmed the credit rating of the Azerbaijani bank at BB-/B level with a negative outlook. Meanwhile, the…
The State Customs Committee of Azerbaijan transferred almost 974.9 million manats to the state budget in January-May, up by 14.6% YoY, according to the Committee’s report. The Committee transferred almost 216.8 million manats to the state budget in May. Revenues from customs duties amounted to 57.8 million manats, from the value added tax – 149.91…