ECONOMY

The Central Bank continues its supervisory measures over non-bank credit organizations. “Elchi” reports that, in accordance with Article 25.1.1 of the Law “On Non-Bank Credit Organizations”, the regulator has revoked the license of “E-Kredit Non-Bank Credit Organization”. This decision was made based on the organization’s voluntary application.  

President Ilham Aliyev has signed a Decree on additional measures to improve waste management. “Elchi” reports that, according to the Decree, the State Agency for Waste Management under the Ministry of Ecology and Natural Resources has been established. The Decree stipulates that the Agency is a body within the structure of the Ministry of Ecology […]

Starting from May 16, trains operating on the Baku-Gabala-Baku route will also stop at Kurdamir station. This was reported to elchi by Azerbaijan Railways (ADY) CJSC. It was noted that with this, it will be possible to travel to Kurdamir using all of ADY’s inter-district routes.

The Central Bank of Azerbaijan has announced today’s currency exchange rates. elchi-ın məlumatına görə, on May 14, the US dollar exchange rate remained unchanged at 1.7000 manats, and the Turkish lira stood at 0.0374 manats. The euro decreased to 1.9916 manats, and 100 Russian rubles decreased to 2.2989 manats.

The Central Bank of Azerbaijan has announced today’s currency exchange rates. elchi-ın məlumatına görə, on May 13, the US dollar exchange rate remained unchanged at 1.7000 manats. The Turkish lira decreased to 0.0374 manats, the euro to 1.9949 manats, and 100 Russian rubles to 2.3027 manats.  

The U.S. Energy Information Administration (EIA) under the Department of Energy has updated its forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2026-2027. According to elchi, citing the EIA’s monthly report, the average daily production of oil and other liquid hydrocarbons in the country in 2027 is expected […]

A tobacco products production project will be implemented by a new resident of the “Araz Valley Economic Zone” Industrial Park. elchi reports this with reference to the Economic Zones Development Agency under the Ministry of Economy. According to the information, “Baku International Tobacco” LLC has been granted the status of a resident of the “Araz […]

More than 11 million manats have been allocated for the construction of waste landfills and transfer stations in the Aghdam, Jabrayil, Fuzuli, and Zangilan districts. “Elchi” reports that “Tamiz Shahar” OJSC has announced an open tender regarding this matter. The estimated cost of the competition is 11 million 167 thousand 182.52 manats. The deadline for […]

Two documents were signed during the planned two-day business visit of BP’s Chief Executive Officer Murray Auchincloss and the company’s Executive Vice President of Production and Operations Gordon Birrell to Azerbaijan. According to the information provided by the company to elchi, two Memoranda of Understanding were signed during the meeting with the participation of Minister […]