ECONOMY

NEWS

The value of payment card fraud cases in Azerbaijan has increased more than 3 times

— ECONOMY
In the first quarter of 2026, the value of domestic payment card fraud transactions amounted to 1 million 350 thousand 492 manats. elchi reports, citing the Central Bank, that during the reporting period, a 3.13-fold increase was recorded in the value of domestic fraud transactions compared to the first quarter of 2025. The value of […]
NEWS

Temporary suspension of train services on the Baku–Aghdam–Baku route

— ECONOMY
“Azerbaijan Railways” CJSC (ADY), one of the AZCON Holding companies, continues large-scale reconstruction work on railway infrastructure to ensure traffic safety and reliable transportation of passengers and cargo. According to the information provided by “Azerbaijan Railways” CJSC to “ADY”, strategic projects implemented in the liberated territories, which fundamentally change the transport map of the region, […]
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 May 8. The Turkish lira depreciated to 0.0375 manats, and the euro depreciated to 1.9950 manats. The Russian 100 rubles appreciated to 2.2836 manats. Currency Code Rate 1 […]
NEWS

The US has imposed sanctions on a conglomerate that controls approximately 40% of the Cuban economy

— ECONOMY, NEWS FEED
The Washington administration has imposed sanctions on a number of individuals and companies in Cuba due to their alleged involvement in repressions in the country and threats to the national security of the United States. “Elchi” reports that the US Department of State has released information regarding this matter. It was stated that the “Grupo […]
NEWS

Rashad Nabiyev and Anacláudia Rossbach discussed preparations for WUF13

— ECONOMY, NEWS FEED, SOCIETY
Azerbaijan’s Minister of Digital Development and Transport Rashad Nabiyev and UN-Habitat Executive Director Anacláudia Rossbach discussed preparations for the 13th session of the World Urban Forum (WUF13). “Elchi” reports that Rossbach announced this on the “X” social network. “Had a meaningful discussion with Azerbaijani Minister Rashad Nabiyev on sustainable urban mobility, climate-resilient infrastructure, and the […]
NEWS

Rashad Nabiyev and Anaclaudia Rossbach discussed preparations for WUF13

— ECONOMY, NEWS FEED, SOCIETY
Azerbaijan’s Minister of Digital Development and Transport Rashad Nabiyev and UN-Habitat Executive Director Anaclaudia Rossbach have discussed preparations for the 13th session of the World Urban Forum (WUF13). “Elchi” reports that Rossbach announced this on the “X” social network. “Had a productive discussion with Azerbaijani Minister Rashad Nabiyev on sustainable urban mobility, climate-resilient infrastructure, and […]
NEWS

Baku Metro: Integration with bus and taxi services to be further strengthened

— ECONOMY
In accordance with the Decree of the President of the Republic of Azerbaijan dated May 7, 2026, “Baku Metropoliten” CJSC is being reorganized through the merger of “BakuBus” LLC and “Baku Taxi Service” LLC into it. This was reported to elchi by the CJSC. It was noted that the adopted decision is aimed at organizing […]
NEWS

Baku Metro to organize tram passenger transport services in Baku

— ECONOMY
Baku Metro CJSC will organize passenger transport services using tram transport in Baku. “Elchi” reports that this issue is reflected in the Decree of President Ilham Aliyev on “Reorganization of Baku Metro Closed Joint-Stock Company and amendments to some decrees and orders of the President of the Republic of Azerbaijan in connection with this, and […]
NEWS

ITFC: We have provided $103 million in financing in Azerbaijan so far

— ECONOMY
The International Islamic Trade Finance Corporation (ITFC) has provided $103 million in financing in Azerbaijan to date. elchi reports that this was stated by Hojamurod Hojaev, General Manager of the Relationship Management and Trade Finance Department of the International Islamic Trade Finance Corporation (ITFC), during the presentation of the Islamic Development Bank Group on the […]
NEWS

Design of Azerbaijan’s Earth observation satellites completed

— ECONOMY
The design phase of the “Azersky-2A” and “Azersky-2B” satellites has been completed. elchi reports that this was stated by the Azerbaijan National Aerospace Agency (AZERCOSMOS) in response to an inquiry from “APA-Economics”. According to the information, the production process of the “Azersky-2A” satellite is currently underway: “The processes are taking place with the participation of […]