ECONOMY

NEWS

Import of works of art and antiques is exempt from VAT

— ECONOMY
The import of works of art, collection items and antiques into the country is exempt from value added tax (VAT). According to Elchi.az, this is reflected in the amendment to the Tax Code, which was discussed at today’s meeting of the Milli Majlis. According to the project, the import of works of art, collection items […]
NEWS

The period of suspension of inspections in the field of entrepreneurship is extended for another 1 year

— ECONOMY
The period of suspension of inspections in the field of entrepreneurship in Azerbaijan is being extended. Elchi.az reports that this is reflected in the amendment proposed to the Law “On Suspension of Inspections in the Field of Entrepreneurship”, which was discussed in the first reading at today’s meeting of the Milli Majlis. According to the […]
NEWS

Oil prices fall in world markets

— ECONOMY
During trading operations on the ICE London Intercontinental Exchange, the value of the April 2026 contract for Brent crude oil decreased by 3.21% to $66.11 per barrel. According to Elchi.az, the price of 1 barrel of WTI crude oil for export in March 2026 on the New York Mercantile Exchange (NYMEX) also decreased by 3.13% […]
NEWS

Natural gas prices rise on New York Stock Exchange

— ECONOMY
The price of natural gas futures quotations has increased on the New York Mercantile Exchange “NYMEX”. Elchi.az reports that the price of natural gas futures for delivery in March 2026 increased by 11.13% to $4.35 per 1 million BTU (British thermal unit).
NEWS

Azerbaijani oil has become more expensive

— ECONOMY
Azerbaijani oil of the “Azeri Light” (CIF) brand has become more expensive in world markets. Elchi.az reports that the price of 1 barrel of Azerbaijani oil increased by 0.46 US dollars or 0.63% to 73.35 US dollars. It should be noted that the previous price of Azerbaijani oil was 72.89 US dollars. It should be […]
NEWS

Gold and silver cheapen in commodity markets

— ECONOMY
The price of gold futures per troy ounce (31.1 grams) has decreased in commodity markets. Elchi.az reports with reference to stock exchange data that the price of February 2026 futures for one troy ounce of gold on the New York COMEX commodity exchange decreased by 11.39% to 4,745.10 US dollars. The price of March 2026 […]
NEWS

Oil prices fall in world markets

— ECONOMY
During trading operations on the ICE London Intercontinental Exchange, the value of April 2026 contract for Brent oil exports decreased by 0.39% to $69.32 per barrel. According to Elchi.az, the price of 1 barrel of WTI crude oil for export in March 2026 on the New York Mercantile Exchange “NYMEX” also decreased by 0.32% to […]
NEWS

Gold futures price falls below $4,850 per ounce

— ECONOMY
The value of gold futures for delivery in April 2026 on the Comex exchange has fallen below $4,850 per troy ounce. Elchi.az reports that this is confirmed by the trading platform’s data. At 21:42 Baku time, the price of the precious metal decreased by 8.68% to 4,890 per troy ounce. By 21:47, the price of […]
NEWS

ING: Central Bank of Azerbaijan to keep the discount rate stable

— ECONOMY
The Central Bank of Azerbaijan (CBA) will keep the discount rate unchanged at 6.75% at the meeting to be held on February 4. Elchi.az reports that this was stated by the largest financial group in the Netherlands, ING Group. ING noted that although certain prerequisites have been formed for easing monetary policy in Azerbaijan, the […]
NEWS

ADY Chairman meets with his Georgian counterpart

— ECONOMY
Rovshan Rustamov, Chairman of “Azerbaijan Railways” CJSC (ADY), which is one of the AZCON Holding companies, met with Lasha Abashidze, General Director of “Georgian Railways” JSC. According to the information provided to Elchi.az from ADY, satisfaction was expressed at the level of cooperation in the railway sector between the two countries, and issues such as […]