Last week review (Jan. 11-15)

Jan. 11

President Aliyev attends opening of large-size transformer plant, lays foundation stone for new enterprise

President of the Republic of Azerbaijan Ilham Aliyev attended the opening of a large-size transformer plant of ATEF Group of Companies and laid a foundation stone for a high-voltage equipment plant in Surakhani district.

Foreign-exchange offices to be closed in Azerbaijan

Azerbaijani banks closed their exchange offices and branches. Exchange offices received the directions from the banks' management. Previously Central Bank of Azerbaijan reported that it would take a decision until March or April 2016 to shut down currency exchange offices operating outside banks and their branches. Central Bank also limited the currency exchange rate corridor within four percent of the official rate [-4 percent on purchase, +4 percent on sale] in an instruction sent to the banks.

Jan. 12

North-South corridor to reduce cargo delivery almost threefold

The implementation of the North-South railway corridor project will reduce the cargo delivery period via various important routes twofold-threefold, Javid Gurbanov, the head of Azerbaijan Railways CJSC, said at the "North-South international transport corridor: new directions, development and prospects" forum. The corridor will allow turning Azerbaijan into a major transport hub, using its geographical position, increasing the turnover, said Gurbanov.

Azerbaijan suspends ban on alcohol sale for cash

Azerbaijan temporarily suspended the ban for sale of alcohol beverages for cash money, as well as wholesale of tobacco products, deputy tax minister of Azerbaijan, Sahib Alakbarov said.

"As for the issue of purchase of alcoholic beverages using non-cash payment, there were no problems in this process, there were only issues related to documentation," he said. "Therefore, as such process takes some time, we received appeals with a request to temporarily suspend this law until the documentation process is finalized."

Alakbarov said that President Ilham Aliyev, having considered the appeals, instructed to suspend these rules [on introduction of non-cash payment during purchase of alcoholic beverages in the country's trading network] until completion of the documentation as part of measures taken to support the development of entrepreneurship.

Jan. 13

Azerbaijani president receives Senior Director for European Affairs at US National Security Council

President of Azerbaijan Ilham Aliyev received Senior Director for European Affairs at the US National Security Council Charles Kupchan.

The sides discussed the development of the Azerbaijani-US bilateral ties in a variety of fields. They stressed the importance of expanding energy cooperation, which has a rich history, with the support of the US.

SOCAR to help Georgia to build underground gas storage facility

The State Oil Company of the Azerbaijan Republic (SOCAR) in a meeting with the government of Georgia mainly discussed the technical issues of gas supplies, Mahir Mammadov, the head of SOCAR Energy Georgia, said.

Mammadov noted that the sides also discussed the construction of underground gas storage facility in Georgia.

Jan. 14

Azerbaijan agrees with 3 countries on preferential cargo traffic tariffs

Azerbaijan, Kazakhstan, Georgia and Ukraine signed a protocol on setting competitive preferential tariffs for cargo transportation via the Trans-Caspian International Transport Route. The protocol was signed by Javid Gurbanov, head of Azerbaijani Railways CJSC, Askar Mamin, head of Kazakhstan Railways JSC, Mamuka Bakhtadze, head of Georgian Railway JSC and Oleksandr Zavgorodniy, acting chairman of board of Ukrainian Railways JSC.

The document envisages setting the competitive preferential tariffs for cargo transportation via the Trans-Caspian route, carrying out comprehensive measures to facilitate the movement of trains via the route, and increasing cargo turnover. A similar bilateral protocol was also signed separately by Azerbaijan and Georgia.

Flour, bread to be exempt from VAT in Azerbaijan

Import and sale of wheat, as well as production and sale of flour and bread in Azerbaijan will be exempt from the value added tax from January 15 in accordance with an instruction of Azerbaijani President Ilham Aliyev, said the ministry of economy and industry.

As a result, the wholesale prices greatly reduced. Depending on the transportation expenditure, the wholesale price of one bag of flour (50 kg) varies from 21.5 to 22.5 manats, and retail price from 23 to 24 manats. Bread weighing 500 grams will be sold at 0.30 manats, and 700 grams at 0.40 manats in accordance with the flour price.

Serious measures will be taken with regard to the individuals who will sell flour and bread at higher prices.

Armenia violates ceasefire with Azerbaijan 23 times
Armenia violates ceasefire with Azerbaijan 23 times
Armenian PM infected with coronavirus
Armenian PM infected with coronavirus
Armenia violates ceasefire with Azerbaijan 23 times
Armenia violates ceasefire with Azerbaijan 23 times
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Azerbaijani Azexport portal talks Facebook Shops integration
Kazakhstan's Samruk-Kazyna decreases its share in Kazatomprom
ADB continues to support Azerbaijan’s efforts to diversify its energy mix
Turkmenistan’s Turkmenhimiya opens tender to buy various equipment, spare vehicle parts
Turkey's export of wood, furniture abroad from January through May 2020 plummets
Coronavirus negatively affects almost all sectors of Georgian economy
Kazakhstan records decrease in money transfer volume
Oil, gas exploration work to be held throughout Turkey
Uzbek-Korean JV opens tender for procurement of pump repair kit
Hajj pilgrimage from Azerbaijan may not take place this year
Azerbaijan's Agricultural Insurance Fund talks managing company branding
Azerbaijan's pomegranate association aims to increase export volumes
BoE says advising banks to prepare for possible no-deal Brexit
16 insurance companies increase payment of insurance claims in Azerbaijan
Belgium to open bars and restaurants but not nightclubs
Azerbaijani president attends inauguration of Tartar branch of “Azerkhalcha” OJSC (PHOTO)
GNERC: Over 20% of business entities provided with internet services in Georgia
Cargo transshipment through Turkey's Antalya port disclosed
Turkey's export of grain, legumes to int'l markets marginally up
Exhibition of historical Baku photos opens on Baku boulevard (PHOTO)
Azerbaijani pomegranate association reveals new export targets
Turkey's export to D-8 countries down from Jan. through Apr. 2020
Turkmenistan’s Dashoguz region completing preparations for wheat harvesting
Sumgait Technologies Park talks export of aluminum to Central Asia
Cargo transshipment from Greece via Turkish ports disclosed
State share of Kafolat Insurance Company sold in Uzbekistan
Azerbaijan's Central Bank talks problematic insurance companies
Uzbek Ipak Yuli Bank, EBRD increasing their support to entrepreneurs of Uzbekistan
Uzbek-Korean JV buys sockets, switches via tender
Bank loans on rise in Azerbaijan
Turkey, US trade turnover suffers drop in April 2020
Azerbaijani president opens newly renovated highway (PHOTO)
Turkmenistan evaluates new varieties of cotton
Net revenue of Kazakhstan's KazMunayGas plummets in 1Q2020
Turkish ministry reveals cargo transshipment through local Hopa port
Azerbaijani president launches newly renovated 'Tartar' power substation (PHOTO)
Chamber of Commerce talks problems created by ministries' merger in Iran
Coronavirus body count in Iran surpasses 8,000
Kazakh uranium producing company opens tender for equipment repair
Uzbekneftegaz, LUKOIL to create joint venture to develop fields in Uzbekistan
Azerbaijani president attends opening of Tartar Olympic Sports Complex
Kazakhstan's oil & gas company to buy spare parts for piston pumps via tender
Uzbekistan supports local tourism sector
Demand for land plots in suburbs increases in Georgia
Oil tops $40 for 1st time since March on OPEC cuts, demand recovery
Azerbaijani president inaugurates State Symbols Museum in Tartar (PHOTO)
Germany to lift travel ban for EU, Schengen countries and UK from June 15
Turkish general directorate to implement several energy projects
Azerbaijani president arrives in Tartar district for visit (PHOTO)
Kazakh national currency against US dollar rate breaks three-month record
Data on cargo transshipment through Turkish Gulluk port revealed
Georgian peaches to appear on Russian shelves soon
WB: Georgia ranks 24th in world in terms of remittances
Nagif Hamzayev: Everyone must be mobilized against those who violate rules of quarantine regime
Gold price lowers in Azerbaijan on June 3
Azerbaijani Veyseloglu Group to launch digital transformation project
Kazakhstan's Kyzylorda to apply innovative rice growing technology
Uzbekistan reveals data on state budget revenues of 1Q2020
BP to have Operator Workbench on all its offshore platforms in Azerbaijan
Turkey-Ukraine trade turnover drops
Social payments increase in Azerbaijan
Azerbaijan accounted for 7% of BP liquids output worldwide
Kazakhstan-based subsidiary of Russian bank decides against paying dividends
India triples import of Kazakh-made products
Turkmenistan launches pilot program to support start-ups
OPEC+ deal will see higher prices but muted levels of demand
No sign of peak oil demand in decade to come
Uzbekistan to start production of Volkswagen cars
Azerbaijan's oil up in price
Turkmenistan Railways passes new rules regarding passenger transportation
Non-cash transactions in Kazakhstan up due to coronavirus-related restrictions
Turkey exempts Azerbaijani citizens from visa
Turkish electricity company moves forward with its business in Uzbekistan
Turkmenistan to intensify co-operation with Russia's KAMAZ company
Geostat reveals inflation rate in Georgia
Georgian fruit processing company exports products to Russia
Weekly review of Georgian capital market
Georgia reports new COVID-19 cases
Uzbekistan aims to improve its position in international ratings
Fish processing plant to be commissioned in Kazakhstan's Kyzylorda
Azerbaijani currency rates for June 3
Armenia violates ceasefire with Azerbaijan 23 times
India's coronavirus cases cross 200,000, peak still weeks away
LNG industry to see first seasonal demand contraction since 2012
Well-known Chinese company registers as taxpayer in Uzbekistan
Uzbekistan reports 107 new COVID-19 cases
Kazakhstan’s oil producing company to buy accumulators via tender
Turkey sees drop in number of driven vehicles
IMF predicts decline in Georgia's foreign direct investments
LUKOIL opens new filling station in Azerbaijan
Kazakhstan's Samruk-Kazyna eyes selling its share in Kazatomprom
Iran's export via borders triples
WhatsApp, PayPal invest in Indonesian super app Gojek
Germany's Lufthansa posts first-quarter net loss of 2.1 billion euros
Azerbaijan sets regulations for agricultural insurance system
Kyrgyzstan reports 26 new COVID-19 cases
Number of COVID-19 cases up in Kazakhstan
S. Korea reports 49 more cases of new coronavirus, total now at 11,590
NYPD: Officers fatally shoot man pointing gun at them
Chinese mainland reports no new domestically transmitted COVID-19 cases
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