ECONOMY

NEWS

Gold and silver prices rise

— ECONOMY
The price of gold and silver has increased on the New York Stock Exchange. Elchi.az reports that gold futures on the New York COMEX commodity exchange gained 3.93% to $4835. Silver futures on COMEX rose 8.42% to $83.49 per ounce.
NEWS

Today’s exchange rates

— ECONOMY
The Central Bank of Azerbaijan has announced today’s exchange rates. According to Elchi.az, on February 3, the exchange rate of the US dollar remained unchanged at 1.7000 manats, and the Turkish lira was 0.0391 manats. The euro depreciated to 2.0076 manats, and 100 Russian rubles to 2.2193 manats. 1 US dollar USD 1,7 1 Euro […]
NEWS

Azerbaijan oil price drops below $70

— ECONOMY
The price of Azerbaijani oil of the Azeri Light (CIF) brand has decreased in world markets. Elchi.az reports that the price of 1 barrel of Azerbaijani oil decreased by 3.63 US dollars or 4.95% to 69.72 US dollars. It should be noted that the previous price of Azerbaijani oil was 73.35 US dollars. It should […]
NEWS

“ChatGPT” Loses 10% of Market Share in Azerbaijan in the Last Two Months

— ECONOMY, SOCIETY
Last month, the market share of the artificial intelligence (AI) “chatbot” “ChatGPT” in Azerbaijan across all platforms (computers, mobile devices, and tablets) was 84.62%. According to Elchi.az, citing the latest report from the “Statcounter” agency, this is 6.16 percentage points less than in December. Thus, its share has been decreasing for the 2nd consecutive month […]
NEWS

The state control mechanism is being created regarding the import, export, and tracking of rough diamonds

— ECONOMY
A state control mechanism is being created in Azerbaijan in the field of import, export, use, circulation, accounting and storage, including tracking of rough diamonds. According to Elchi.az, amendments to the Law “On Precious Metals and Precious Stones” were proposed at today’s meeting of the Milli Majlis. According to the additions, state control in the […]
NEWS

Import of works of art and antiques is exempt from VAT

— ECONOMY
The import of works of art, collection items and antiques into the country is exempt from value added tax (VAT). According to Elchi.az, this is reflected in the amendment to the Tax Code, which was discussed at today’s meeting of the Milli Majlis. According to the project, the import of works of art, collection items […]
NEWS

The period of suspension of inspections in the field of entrepreneurship is extended for another 1 year

— ECONOMY
The period of suspension of inspections in the field of entrepreneurship in Azerbaijan is being extended. Elchi.az reports that this is reflected in the amendment proposed to the Law “On Suspension of Inspections in the Field of Entrepreneurship”, which was discussed in the first reading at today’s meeting of the Milli Majlis. According to the […]
NEWS

Oil prices fall in world markets

— ECONOMY
During trading operations on the ICE London Intercontinental Exchange, the value of the April 2026 contract for Brent crude oil decreased by 3.21% to $66.11 per barrel. According to Elchi.az, the price of 1 barrel of WTI crude oil for export in March 2026 on the New York Mercantile Exchange (NYMEX) also decreased by 3.13% […]
NEWS

Natural gas prices rise on New York Stock Exchange

— ECONOMY
The price of natural gas futures quotations has increased on the New York Mercantile Exchange “NYMEX”. Elchi.az reports that the price of natural gas futures for delivery in March 2026 increased by 11.13% to $4.35 per 1 million BTU (British thermal unit).
NEWS

Azerbaijani oil has become more expensive

— ECONOMY
Azerbaijani oil of the “Azeri Light” (CIF) brand has become more expensive in world markets. Elchi.az reports that the price of 1 barrel of Azerbaijani oil increased by 0.46 US dollars or 0.63% to 73.35 US dollars. It should be noted that the previous price of Azerbaijani oil was 72.89 US dollars. It should be […]