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Economy

W1siziisijiwmtcvmdmvmjuvmtgvntmvntyvmjfmodk5mtmtngy5zi00mjmxltljnjytmthlymu1mdmxmgzll2ltywdllmpwzyjdlfsiccisinrodw1iiiwiodb4njaixv0?sha=5da2459334bc7e80 Azerbaijan may further reduce trade with neighboring countries
"Given the economic crisis, each country should keep development of new entrepreneurship a priority."

W1siziisijiwmtcvmdmvmjqvmdavmdcvmdgvytq1ogeznwutnjvinc00ntrkltljmdytzdzkntq3nwrjymu3lzg5zdhiodjjmdy2ywy3zjrjota0zde3mwfjyjq4otu4lmpwzyjdlfsiccisinrodw1iiiwiodb4njaixv0?sha=72d7073cef6bc92b New appointment to the management of the Petkim
A new appointment to the management of “Petkim Petrokimya Holding AS” has been approved, APA-Economics reports.

W1siziisijiwmtcvmdmvmjevmjevmtavmjqvndm1njywzjutodq1zi00ytgylwi0ndktzdjjn2m4m2zmn2q0l2ltywdllmpwzyjdlfsiccisinrodw1iiiwiodb4njaixv0?sha=d5df7cdc4c09cc10 China’s Huawei to build ‘Smart City’ in Baku
“The Public Wi-Fi project is one of the elements that can be interesting for tourists."



Azerbaijan may further reduce trade with neighboring countries
"Given the economic crisis, each country should keep development of new entrepreneurship a priority."

New appointment to the management of the Petkim
A new appointment to the management of “Petkim Petrokimya Holding AS” has been approved, APA-Economics reports.

China’s Huawei to build ‘Smart City’ in Baku
“The Public Wi-Fi project is one of the elements that can be interesting for tourists."

Alternative power generation increases in Azerbaijan
Volume of generation in thermal power plants increased by 4.5%.

Dimitri Kumsishvili: Georgia and Azerbaijan carry out large-scale projects
Azerbaijan is the main strategic partner of Georgia. We are interested in further strengthening and developing this partnership.

Turkish FM: Baku-Tbilisi-Kars railway to be launched soon
The Baku-Tbilisi-Kars (BTK) railway will be launched in the next two months, Turkish Foreign Minister Mevlut Cavusoglu said Mar. 18, the Turkish media outlets reported.

Unusual offer from a Baku tourism company: Night in jail
A Baku tourism agency offers an unutual tourism package to its customers.

Azerbaijan-based banks’ net worth exceeds AZN 2B
As of January 31, 2017, Azerbaijan-based 32 banks’ assets stood at AZN 32,407,100,000, liabilities at AZN 30,347,500,000.

Huawei, Nakhchivan Autonomous Republic sign agreement
The Ministry of Communication and Advanced Technologies of Nakhchivan Autonomous Republic has signed an agreement with Huawei company on replacing telecommunications network with the new generation phone stations in the territory of Ordubad district.

Azerbaijan creates Association of Packaging Industry
The Association of Packaging Industry has been created in Azerbaijan with the support of the country’s Economy Ministry and National Confederation of Entrepreneurs, Trend reports.

AZN 3 million allocated to Caucasian Muslims Board
Azerbaijan’s President Ilham Aliyev has signed an order on financing several events to be held by the Caucasian Muslims Office in connection with the announcement of 2017 as the ‘Year of Islamic Solidarity’ in the country.

USD rate continues to decline
The Central Bank of Azerbaijan has announced USD/AZN rate for March 27.

Azerbaijani MP slams local banks for taking advantage of people's hardships
"It is clear that citizens taking loans at high interest will not be able to repay for them."

Azerbaijan gets 17% rise in gasoline production
Azerbaijan produced oil products worth AZN 401,000,000 in January-February 2017, down 6.1% from previous year.

Azerbaijan sees rise in consumption market
In January-February 2017, the worth of sold products and rendered services amounted to AZN 6.3 billion, up 0.5% from previous year.

Azerbaijan stops truck manufacture
In January-February of 2017, Azerbaijan manufactured machinery and equipment, transport facilities, cars and trailers worth AZN 19.4 million.

Construction of unique Ro-Pax ferries starts in Azerbaijan
Baku Shipyard LLC has started construction of two new unique Ro-Pax (roll-on/roll-off passenger) ferries, Azerbaijan’s Economy Minister Shahin Mustafayev said Mar. 16.

State budget executed with AZN 179M surplus in January-February
In January-February 2017 AZN 2,370,500,000 was transferred to the state budget, AZN 2,191,700,000 was spent, Ministry of Finance reported.

USD rate for tomorrow announced
The Central Bank of Azerbaijan has announced USD/AZN rate for March 17.

AZAL launches a new discount campaign
Azerbaijan Airlines (AZAL) announced the launch of a new campaign due to Novruz holiday.

AZN 10B asset transferred from IBA
The government has allocated AZN 1.151 billion to the International Bank of Azerbaijan (IBA) since 2012, says the report by Fitch Ratings about IBA.

Fitch announces its forecast on inflation and manat rate in Azerbaijan
Average annual inflation in Azerbaijan will make up 9% in 2017, the experts Fitch Ratings said at the 6th annual conference in Azerbaijan.

US Federal Reserve’s decision may indirectly affect Azerbaijan – Central Bank
"The US Federal Reserve’s decision may have indirect impacts on Azerbaijan."

Fitch expects more Azerbaijani banks to meet failure in 2017
Fitch international rating agency expects failure of more Azerbaijani banks in 2017, as well cleaning-up measures in the sector, especially enhancement of assets.

Azerbaijani tax ministry exceeds tax revenue forecast
Tax revenues of the Azerbaijani state budget reached almost 939.14 million manats in January-February 2017 that exceeds the forecast by 5.2 percent, said the country’s Ministry of Taxes Mar. 15.

Fed raises rates as job gains, firming inflation stoke confidence
The U.S. Federal Reserve raised interest rates on Wednesday for the second time in three months, a move spurred by steady economic growth, strong job gains and confidence that inflation is rising to the central bank's target, Reuters reported.

AZALJET launches flights from Azerbaijani regions to Moscow
AZALJET, low-cost brand of Azerbaijan Airlines, starts regular flights from Moscow Vnukovo Airport to Azerbaijani regions - Ganja and Gabala from March 15.

USD rate for tomorrow announced
The Central Bank of Azerbaijan has announced USD/AZN rate for March 16.

Bank of America: Manat has great potential to be strengthened
Azerbaijani manat has a great potential to be strengthened, Chief Economist of Bank of America on Russia and CIS Vladimir Osakovsky said in his article.

GDP increases 0.4% in Azerbaijan
In January-February 2017, the Gross Domestic Product (GDP) made up AZN 10,042,600,000, up 0.4% from previous year, said a statement from the State Statistical Committee.

Armenia uses water reserves of Sarsang Reservoir as a tool of political threat
Sarsang Reservoir has become dilapidated in the wake of Armenia’s aggression.

GDP increases 0.4% in Azerbaijan
In January-February 2017, the Gross Domestic Product (GDP) made up AZN 10,042,600,000, up 0.4% from previous year, said a statement from the State Statistical Committee.

Heydar Aliyev International Airport recognized as best airport in CIS countries
Heydar Aliyev International Airport has been awarded the prestigious Skytrax World Airport Awards, according to AzerTag.

Azerbaijan, Ukraine discuss projects in ship and aircraft building
Ukrainian President Petro Poroshenko has held a meeting with a delegation of Azerbaijan led by Minister of Economy Shahin Mustafayev.

Sponsor of Caspian Energy Forum Baku-2017 announced
Cross Caspian Oil and Gas Logistics LLC has become a sponsor of the 4th International Caspian Energy Forum-2017 (www.caspianenergyforum.com) which will be held in Baku on April 12.

USD rate declines at today's auction
Today, a bilateral currency auction was held at the Central Bank, in which SOFAZ also participated.

Azerbaijan to open Trade House in Kiev
Ukranian PM Vladimir Groysman met with Azerbaijan's Minister of Economy Shahin Mustafayev who is on an official visit to Kiev.