ECONOMY

UK Prime Minister Keir Starmer has sent a letter to the 31st ‘Baku Energy Week’. “Elchi” reports that the letter was read by David Reed, the UK’s Trade Commissioner for Eastern Europe and Central Asia. The letter states: “Dear President Aliyev, It is a pleasure to send my warm greetings to everyone participating in the […]

Bangladesh has signed an oil supply agreement with SOCAR. elchi reports that this was announced by Bangladesh’s Minister of Power, Energy and Mineral Resources, Iqbal Hasan Mahmud, at the ministerial plenary session held within the framework of the 31st Baku Energy Forum. According to the minister, Bangladesh is expanding cooperation with new partners to strengthen […]

The Central Bank of Azerbaijan has announced today’s currency exchange rates. According to “Elchi”, the exchange rate of the US dollar remained unchanged at 1.7000 manats on June 1, and the Turkish lira was 0.0370 manats. The euro rose to 1.9802 manats, and 100 Russian rubles rose to 2.3836 manats. Currency Code Rate 1 US […]

During the trading operations on the ICE London intercontinental exchange, the value of the August 2026 contract for the export of Brent crude oil increased by 2.45% to 93.35 US dollars per barrel. According to elchi, the price of 1 barrel of WTI crude oil for export in July 2026 on the NYMEX commodity exchange […]

On London’s ICE exchange, Brent crude oil futures were priced at $91.12. elchi reports that the price of Brent crude oil has decreased by 1.70%. The price of WTI crude oil futures also fell by 1.73%, reaching $87.36 per barrel.

It is planned to promote the formation of a vegetable oil production cluster in Azerbaijan in 2026-2030. elchi reports that this issue is reflected in the “State Program for the Development of Production and Processing of Agricultural, Fishery and Aquaculture Products in the Republic of Azerbaijan for 2026-2030”. According to the document, it is planned […]

In the last five years, a decrease in the number of animals has been observed in the country. elchi reports that Minister of Agriculture Majnun Mammadov stated this at a meeting dedicated to agricultural issues chaired by President Ilham Aliyev. He noted that, nevertheless, there is an increase in meat production and per capita meat […]

The Central Bank of Azerbaijan has announced today’s currency exchange rates. elchi-ın məlumatına görə, on May 25, the US dollar exchange rate remained unchanged at 1.7000 manats, and the Turkish lira stood at 0.0372 manats. The euro increased to 1.9792 manats, while 100 Russian rubles decreased to 2.3845 manats.

Azerbaijani oil of the “Azeri Light” brand has become cheaper in the world market. elchi reports that the price of 1 barrel of oil decreased by 4.09 US dollars or 3.58%, amounting to 110.05 US dollars. It should be noted that the lowest price for “Azeri Light” oil was recorded on April 21, 2020 (15.81 […]

The value of futures for one troy ounce (31.1 grams) of gold in commodity markets has decreased. elchi reports, citing stock exchange data, that the value of August 2026 gold futures per troy ounce on the New York COMEX commodity exchange decreased by 0.44% to 4,556.4 US dollars. The price of July 2026 silver futures […]