Latest News

FED RAISES RATES AMID STRONGER INFLATION

The Fed has raised rates seven times since late 2015 on the back of the economy’s continuing expansion. The Federal Reserve raised interest rates on Wednesday, a move that was widely expected but stil...

AZERBAIJAN BOOSTS CARPET MAKING, BUT AT WHAT COST?

Originally published by Eurasianet Azerbaijan has a long history of carpet making, with generations of artisans – mostly women – passing on their skills one to another. But the tradition is on the dec...

PRESIDENTS AT AZERI PIPELINE OPENING CEREMONY

The inauguration ceremony of the TANAP project has been held in the city of Eskisehir, Turkey. President of the Republic of Azerbaijan Ilham Aliyev attended the event, informs the press-service of the...

AZERBAIJAN 36th, ARMENIA 85th ON QUALITY OF ROADS

Azerbaijan is ranked 36th out of 137 countries on quality of roads, the Global Competitiveness Index shows. The ranking on the quality of roads was published on the website of the World Economic Forum...

ALIYEV LAUNCHED SOUTHERN GAS CORRIDOR

Azeri President Ilham Aliyev has attended the official opening ceremony of the Southern Gas Corridor in Sangachal terminal, informs the press-service of the Azerbaijani head of state. The head of stat...

World OIL PRICES beat records

The price of Brent crude for July delivery for the first time since November 26, 2014 exceeded $78 per barrel. As of 19:00, futures for Brent crude oil increased by 1.31% – to $78.13 per barrel,...

AZERBAIJAN’S FOREIGN DEBT GROWING RAPIDLY

“If things continue like this, foreign debt will reach the level of the GDP by 2020” According to the 2017 report of the Cabinet of Ministers, creditors owning 93.9% of liabilities of the ...

Germany became AZERBAIJAN’s guarantor for BILLION DOLLAR LOAN

To ensure the supply of natural gas from Azerbaijan, the German government intends to provide a loan guarantee for a large loan of an Azerbaijani state enterprise in a German bank. As the German media...

STATE-OWNED COMPANY BUYS MAJORITY IN AZERCELL SHARES

AzInTelecom, a company belonging to the Ministry of Transport, Communications and High Technologies, has acquired a 51.3% share of Azertel, parent company of Azercell. Investing around 222 mn euro, th...

FITCH REVISED AZERBAIJAN’s CREDIT RATING FROM “NEGATIVE” TO “STABLE”

The international rating agency Fitch revised Azerbaijan’s credit forecast from “negative” to “stable”, confirming its credit rating at “BB +”. In a February ...