ECONOMY

The current state of economic relations between Azerbaijan and Oman and the prospects for the development of cooperation have been discussed. “Elchi” reports with reference to the Ministry of Economy that Minister of Economy Mikayil Jabbarov held a meeting with Khalfan Al-Shuaili, Minister of Housing and Urban Planning of the Sultanate of Oman, within the […]

According to the data released by the Azerbaijan Appraisers Society (AAS) for April, the increase in costs in the construction sector has accelerated. elchi reports that in April 2026, construction costs rose by approximately 6.8% compared to December 2025, with the index reaching 106.8 points. The price increases were recorded primarily in metal products, concrete, […]

Central and West Asia are increasingly becoming important driving forces for economic development, innovation, connectivity, and regional cooperation. “Elchi” reports that this was stated by Anar Guliyev, Chairman of the State Committee on Urban Planning and Architecture of the Republic of Azerbaijan and National Coordinator for WUF13, at the session titled “Special Forum on Cities: […]

The transformation of informal settlements does not imply the destruction of the existing situation, but rather a gradual improvement with the active participation of the residents of those areas. elchi reports that this was stated by Professor Marie Huchzermeyer of the University of the Witwatersrand, South Africa, during her speech at the dialogue session titled […]

The return of the population to the liberated territories of Azerbaijan makes a significant contribution to reducing the burden on housing provision in the country. elchi reports that this was stated by the Minister of Economy of Azerbaijan, Mikayil Jabbarov, during his speech at the dialogue session titled “Transforming Informal Settlements and Slums: Housing Provision […]

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 1.04% to 4,464.2 US dollars. The price of July 2026 silver futures per […]

The Central Bank of Azerbaijan has announced today’s currency exchange rates. “Elchi”-according to the information, on May 20, the US dollar exchange rate remained unchanged at 1.7000 manats, and the Turkish lira was 0.0373 manats. The Euro depreciated to 1.9717 manats. 100 Russian rubles appreciated to 2.3884 manats. Currency Code Rate 1 US Dollar USD […]

Azerbaijan Airlines (AZAL) has resumed flights on the Baku–Nakhchivan–Baku route, which were temporarily suspended due to unfavorable weather conditions. Currently, flights in the mentioned direction are being carried out according to the planned schedule. This was reported to “Elchi” by AZAL.   It was noted that AZAL constantly monitors the unstable weather conditions observed in […]

The value of futures for one troy ounce (31.1 grams) of gold has decreased in commodity markets. 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 0.21% to 4,548.3 US dollars. The price of July 2026 silver futures per […]

The price of Azerbaijani oil “Azeri Light” (CIF) has increased in world markets. elchi reports that the price of 1 barrel of Azerbaijani oil has increased by 1.75 USD or 1.5%, reaching 118.16 USD. It should be noted that the previous price of Azerbaijani oil was 116.41 USD. Let us recall that in Azerbaijan’s state […]