The Islamic Corporation for Development of the Private Sector (ICD) is discussing an opportunity of allocating $30 million to two Azerbaijani banks and a company. The agreements might be signed soon. The funds will be used to finance the projects in cotton-growing, food and textile industries. According to the ICD financing rules, the minimum amount…
The Ministry of Emergency Situations has increased the price of high quality wheat received from local manufacturers from AZN 270 to 280 a ton. As reported, the State Agency for Material Resources under the Ministry of Emergency Situations on June 21, announced procurement of high quality wheat produced in 2016 for the State Grain Fund.…
Azerbaijan’s state oil company SOCAR will issue US dollar bonds for Azerbaijani citizens from September 20, said the company’s website. The bonds will be on sale till October 10. The nominal value of each bond is $1,000. The annual bond yield is 5%. Interest income is not taxable and will be paid quarterly. The bonds…
International Finance Corporation (IFC) is considering the possibility of financing the Southern Gas Corridor project, IFC representative in Azerbaijan Aliya Azimova said. She pointed out that this project was of great importance for the entire region. “We constantly follow the ongoing processes in this project and systematically connect with its main participants. However, for the…
The Global Cold Chain Alliance (GCCA) is prepared to help Azerbaijan expand the potential of agribusiness and make Azerbaijani agricultural products reach domestic and foreign markets, GCCA Vice President of International Programs Richard Tracy said. Tracy said he was impressed by some enterprises in Azerbaijan, adding that they fully met international standards, however, some businesses…
The total turnover of exchange transactions on all instruments at the Baku Stock Exchange exceeded 2.94 billion manat in January-August, down 2.5 times YoY. The volume of the state securities market totaled 350.6 million manat (up 18.3 times), while the turnover of corporate securities market reached 75.21 million manat (down 22.2 times). The volume of…
77% of the preparatory work for starting the delivery of Azerbaijani gas in 2018 as part of the Stage 2 of the Shah Deniz field’s development has been completed, BP Regional President for Azerbaijan, Georgia and Turkey Gordon Birrell said. Gas will be delivered to Turkey in 2018 via the Trans-Anatolian Natural Gas Pipeline (TANAP)…