Last week review (June 10-14)

June 10

Azerbaijan, OECD sign memorandum of understanding

Azerbaijan and the Organisation for Economic Cooperation and Development (OECD) signed a memorandum of understanding, Azerbaijan's Deputy Minister of Taxes Sahib Alakbarov said on Monday speaking at the opening of the International Seminar entitled 'Audit of multinational enterprises', which launched its work in Baku.

"Two years ago, close cooperation was established between our country and the OECD. A delegation from the organisation arrived in Azerbaijan and became acquainted with the tax system and Ministry activities on-site. The draft memorandum to be signed in the near future is a logical continuation of this collaboration," Alakbarov said.

Minister: Afghanistan interested in using Azerbaijani satellite

Afghanistan is ready to consider the possibility of the use of resources of Azerbaijan's first telecommunications satellite Azerspace / Africasat-1a, Minister of Communication and Information Technologies of Afghanistan Sangin Amirzai said in Baku at a meeting with the Minister of Communications and Information Technologies of Azerbaijan Ali Abbasov.

According to the Ministry of Communications and Information Technology, in the framework of the meeting it was decided to establish a working group and to prepare proposals for the further cooperation between the two countries in the field of information and communication technologies

CBA to continue to protect national currency through sterilization

In order to prevent significant strengthening of Azeri manat the Central Bank of Azerbaijan (CBA) has conducted sterilization of currency to the sum of about $1 billion since the beginning of 2013, CBA Deputy Chairman Khagani Abdullayev said. "To date, the Central Bank has acquired over $1 billion on the foreign exchange market for this purpose," Abdullayev said.

According to him, the amount of further intervention of the Central Bank will be determined by such factors as the state of the currency market, demand for imports in the country and so forth. "We expect that the current account surplus in the balance of payments will exceed $10 billion by the end of the year. Naturally, this affects the amount of supply and demand. We expect that supply will exceed demand, as in previous years. We expect the clean sterilization by the end of the year," Abdullayev said.

June 11

Minister: Great potential is available for developing Azerbaijan-Bosnia and Herzegovina relations

Azerbaijan and Bosnia and Herzegovina have great potential to develop their cooperation in trade and their economies, Azerbaijani Minister of Economic Development Shahin Mustafayev said at a meeting with Bosnia and Herzegovina's Deputy Prime Minister and Foreign Minister Zlatko Lagumdzija. During the meeting, the sides exchanged the views on the development of trade and economic relations between the two countries. They discussed the Azerbaijani side's participation in various infrastructure projects in Bosnia and Herzegovina.

June 12

IFC provides FINCA Azerbaijan with loan to manage its currency risks

IFC, a member of the World Bank Group, is providing risk management support to FINCA Azerbaijan, one of the country's microfinance leaders, to hedge part of its foreign currency borrowings into Azerbaijani Manat and enhance its ability to increase access to funding for micro-entrepreneurs, particularly in rural areas.

IFC has executed the first currency-forward transaction with the notional amount of $10 million under an agreement signed in April 2013. This will allow FINCA Azerbaijan to hedge its currency risk in US dollars and continue lending through its large network of branches serving over 140,000 entrepreneurs.

Subscribe to Trend in Google News! Subscribe
France reports record daily COVID-19 count
France reports record daily COVID-19 count
Mandatory vaccination should be a last resort, says WHO Europe chief
Mandatory vaccination should be a last resort, says WHO Europe chief
Northern Ireland reports first Omicron cases
Northern Ireland reports first Omicron cases
Loading Bars
Azerbaijan openly calls on Armenia to prevent confrontation – deputy FM
International Court of Justice recommended Armenia to resolve border demarcation issue - Azerbaijan's MFA
Azerbaijan’s MFA talks Yerevan's claims on detained persons of Armenian origin
Armenia provided Azerbaijan with maps of its mined lands three days before court's decision - MFA
Azerbaijani minister talks current problems in local labor market
Azerbaijan’s liberated territories have great potential for employment – minister
Georgia’s textile imports from Turkey increase
Azerbaijan suffered from equal approach to aggressor and aggression victim - MFA
Iran records increase in transit of goods via trucks through its territory
Azerbaijan working on several youth development projects - Minister of Youth and Sports
Possible opening of cruise line between Azerbaijan, Russia has high potential - Astrakhan governor (Exclusive)
Azerbaijan sees increase in concluded labor contracts over past four years - minister
Azerbaijan’s Central Bank talks increase in non-cash payments (PHOTO)
Azerbaijan to be fully covered by internet by late 2024 - deputy minister
Georgia releases COVID-19 data for December 8
Developing contactless payments to help further digitalize Azerbaijan's economy - VISA
Azerbaijan talks progress of tunnel road building between Goygol, liberated Kalbajar districts
Azerbaijani oil prices increase
Baku holds Azerbaijan Career Development Forum (PHOTO)
Business centers of Azerbaijan, Russia’s Astrakhan sign memorandum of co-op (PHOTO)
Baku port transports goods in transit mainly to Central Asia, Europe – head of main cargo terminal
Kazakhstan eyes increasing requirements for commodity exchanges
Georgia launches energy reform program, backed by KfW, EU
Uzbekistan shares domestic COVID-19 data for December 7
Iranian currency rates for December 8
Oil prices ease as investors wait for assessment of Omicron's impact
EIA revises down forecasts for Azerbaijan’s 2022 petroleum production
Azerbaijan to commission new enterprises for production of sulfuric acid and glass containers
MFA issues statement on 30th anniversary of Azerbaijan's membership in OIC
Iran's Energy Exchange announces products to be on sale on Dec. 8
OSCE Minsk Group Co-Chair countries release statement
Gunmen torch bus, kill 30 passengers in Nigeria's Sokoto state
Azerbaijan’s Central Bank talks dev’t strategy for securities market until 2023
Pfizer Shot Provides Partial Omicron Shield in Early Study
Australia joins diplomatic boycott of Beijing Winter Games
704 new COVID-19 cases reported in Kazakhstan
France reports record daily COVID-19 count
U.S. Senate backs $650 million missile sale to Saudi Arabia
Mandatory vaccination should be a last resort, says WHO Europe chief
Bolsonaro dismisses vaccination requirement for entry into Brazil
Israel announces completion of high-tech barrier around Gaza
Northern Ireland reports first Omicron cases
Police officer killed in NW Pakistan's firing
Sweden to reintroduce many COVID-19 measures as cases rise
Armenia has no choice but to open Zangazur corridor - experts
Turkey, Qatar strengthen bilateral ties with 15 new deals
Georgian parliamentary delegation visits Washington
Chinese company plans to build a technopark and solar power plant in Uzbekistan
WHO donates 260k packs of intravenous solutions to Iran
Cost of cargo transported via trains up in Azerbaijan
International Court of Justice grants Azerbaijan's request for temporary measures against Armenia
Western media shows neutral approach to Azerbaijan’s Zangazur corridor - Head of Trend News Agency’s Foreign Projects Directorate
Azerbaijan donates 100,000 doses of Sinovac vaccine against COVID-19 to Burkina Faso (PHOTO)
Information spread in Armenian media about killing of illegal militant on territory of Azerbaijan is baseless – MoD
Azerbaijani MFA comments on statement of Armenian foreign ministry
International Court of Justice urges Armenia to take urgent measures against groups and individuals making violent calls on ethnic grounds
International Court of Justice refused to secure Armenia's claim for immediate return of so-called POWs
Azerbaijan completes over half of construction of Barda-Aghdam highway
Azerbaijan building new high-speed road in Shusha city
Azerbaijan-Iran plan to build new bridge to increase traffic
Iran Securities and Exchange Organization focusing on strengthening Capital Market Stabilization Fund
Iran looks to expand agricultural ties with Romania
EIB, EBRD touch on Georgia’s economic growth
Price indexes of industrial, trade sectors at Uzbek stock exchange fall
Georgia shortens terms of COVID-19 booster vaccination
Azerbaijan shares data on 10M2021 oil exports to Vietnam
Uzbekistan shares stats on export of textile products for 10M2021
Kazakhstan's KMG talks project of new gas processing plant in Mangistau
Iran's Bahar Azadi gold coin price increases
Azerbaijan sees decrease in import of vehicles, spare parts over 10M2021
Volume of loaded/unloaded cargo in Iran’s Qeshm port up
Value of Azerbaijan's export to Turkmenistan up for 10M2021
Azerbaijan’s energy ministry opens tender to buy technical support services
Azerbaijan-Iran to take steps to increase trade turnover – Iranian ambassador
Shootout occurs on border between Azerbaijan and Iran - offender neutralized
Baku Int'l Sea Trade Port reveals details of dev’t strategy until 2035
First harvest gathered in mushroom greenhouse in Turkmenistan’s Mary region
Azerbaijan-Iran implementing agreements on joint cooperation – ambassador
Germany's next finance minister stresses price stability
SOFAZ shares estimates of budget revenues for 2022
Iran opens office for cargo barter with Pakistan
Number of legal entities restoring activity in Azerbaijan slightly increases in 11M2021
President Ilham Aliyev receives President for Exploration and Production of TotalEnergies (VIDEO)
Indian embassy in Baku holds webinar on electronic and computer hardware/software products (PHOTO)
Sport in Azerbaijan - integral part of state policy, deputy minister says
Bank of Israel bought $4 bln of FX in Nov, hits $34 bln in 2021
India's Rajnath Singh attends maiden 2+2 Dialogue with Russia
Less urgent need to rebuild stocks to weigh on coal demand
Omicron poses a major risk to global oil demand
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,530 more COVID-19 cases, 1,864 recoveries
Azerbaijan, Russia’s Astrakhan sign action program to develop co-op (PHOTO)
Georgia shares data on cigarettes turnover in 10M2021
President Ilham Aliyev signs order appointing new chairman of State Insurance Commerce Company
Georgia’s imports of fuel and lubricants from Kazakhstan plummet
EU health bodies recommend mix-and-match of COVID-19 vaccines
Georgian apple exports on rise
Number of taxpayers increases in Azerbaijan over 11M2021
Kazakhstan increases volume of production of crude oil and oil products
Kazakhstan shares data on coal production
All news