ECONOMY

NEWS

Pezeshkian: It is necessary to strengthen effective participation in the world market

— ECONOMY, NEWS FEED, WORLD
Iran must strengthen its effective participation in the world market and international supply chains. elchi reports, citing ISNA, that Iranian President Masoud Pezeshkian stated this. “To ensure sustainable food security, it is necessary to strengthen effective and direct participation in world markets, production networks, and international supply chains,” he noted. According to Pezeshkian, when there […]
NEWS

International experience in the field of labor protection was discussed

— ECONOMY
A three-day webinar on labor protection was held, jointly organized by the Ministry of Labor and Social Protection of the Population and the International Labour Organization (ILO). This was reported to “Elchi” by the State Labor Inspectorate Service. It was stated that the purpose of the webinar, dedicated to the topic “Consultations on occupational safety […]
NEWS

ADY has produced a new film about the BTQ railway line – VIDEO

— ECONOMY
ADY has produced a new film about the BTQ railway line. “Elchi” reports that the film “BTQ – A mega project connecting Europe and Asia” discusses the importance, potential, and implemented innovations of this strategic route. Following the modernization of the Baku–Tbilisi–Kars railway line, which is an important segment of the Middle Corridor by ADY, […]
NEWS

Construction of the Mehdiabad–Baksol–Ziya Bunyadov Avenue highway is planned

— ECONOMY
Within the framework of the “State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025–2030”, the implementation of strategically important projects continues with the aim of optimizing the capital’s road transport network and eliminating congestion. This was reported to elchi by the Azerbaijan Land Transport Agency. As is known, against […]
NEWS

EBRD: Azerbaijan’s economic growth to rise to 2% in 2026

— ECONOMY
Azerbaijan’s economic growth to rise to 2% in 2026. elchi reports that the European Bank for Reconstruction and Development (EBRD) has released its forecast regarding Azerbaijan’s economic growth. According to the bank’s assessment, Azerbaijan’s real GDP growth slowed to 1.4% in 2025. In the first quarter of 2026, the economy contracted by 0.3% year-on-year. This […]
NEWS

Today’s currency exchange rates

— ECONOMY
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 3, while the Turkish lira stood at 0.0370 manats. The Euro depreciated to 1.9763 manats, and 100 Russian rubles decreased to 2.3214 manats.
NEWS

Gold and silver prices have fallen in commodity markets

— ECONOMY
The value of futures for one troy ounce (31.1 grams) of gold in commodity markets has decreased. “Elchi” reports, citing exchange data, that the value of June 2026 gold futures per troy ounce on the New York COMEX commodity exchange decreased by 0.46% to 4,499.1 US dollars. The price of July 2026 silver futures per […]
NEWS

Azerbaijan has signed documents with “Oracle” and “Lummus Technology” companies

— ECONOMY, NEWS FEED
Within the framework of the “Baku Energy Week”, at the 1st Azerbaijan-US Economic Dialogue event, a Memorandum of Understanding was signed between the Ministry of Economy and “Oracle”, and a Strategic Cooperation Agreement was signed between the State Oil Company of Azerbaijan (SOCAR) and “Lummus Technology”. elchi reports that this was stated by Minister of […]
NEWS

SOCAR discussed opportunities to implement joint projects with Chevron

— ECONOMY, NEWS FEED
Within the framework of Baku Energy Week, the President of the State Oil Company of Azerbaijan (SOCAR) Rovshan Najaf met with Derek Magness, Managing Director of Chevron’s Eurasia Business Unit. This was reported to elchi by SOCAR. During the meeting, Chevron’s successful operations in Azerbaijan were noted with satisfaction. It was emphasized that the document […]
NEWS

Agreements worth $8 billion signed during the US delegation’s visit to Azerbaijan

— ECONOMY
Economic cooperation between the US and Azerbaijan is entering a new phase. “Elchi” reports that this was stated by US Assistant Secretary of State for Economic and Business Affairs Caleb Orr at a briefing in Baku dedicated to the results of the first Azerbaijan-US Economic Dialogue. According to him, economic cooperation between the US and […]