Category: Economy

The European Commission welcomed the start of the Trans-Adriatic Pipeline (TAP) operations, the last stretch of the Southern gas corridor, thanks to which gas pumped from the Shah Deniz offshore gas field in Azerbaijan started reaching Italy, “QİA.AZ” informs, citing Euractiv. Commission spokesperson Tim McPhie said the EU executive “welcomes the start of the TAP operation, which connects Greece… Continue reading European Commission welcomes launch of TAP

With the liberation of Nagorno-Karabakh by the Azerbaijani Army, the corridor between the Nakhchivan Autonomous Republic and Azerbaijan coming under Baku’s control is politically, militarily, and commercially important. Thus, a direct road will be created to connect Turkey and Central Asia. According to “QİA.AZ”, businessmen and politicians from the Eastern Anatolia region also told about it… Continue reading Nakhchivan corridor to increase exports of Eastern Anatolia by 30 times

In 2019, the State Oil Company of Azerbaijan (SOCAR) Gas Processing Plant was supplied with 3,215 million m3 of raw natural gas, “QİA.AZ” says, citing SOCAR’s Annual Report on Sustainable Development. According to the information, 3,161 million m3 of purified gas, 5.5 million m3 of technical butane, and 30,000 m3 of gasoline were purchased.

Oil prices fell on Thursday as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place in the first wave of the COVID-19 pandemic, QİA.AZ reports with reference to Reuters. Brent crude was down 15 cents, or 0.3%, at $48.10 a barrel by 0155 GMT, after… Continue reading Oil drops as OPEC+ resume talks on output cut extension after impasse

The official exchange rate of the US dollar and euro against Azerbaijani manat was set at 1.7 manat and 2.0603 manat respectively for Dec. 3. Below are the rates of Azerbaijani manat against world currencies according to the data from the Central Bank of Azerbaijan. Currencies Dec. 3, 2020 Dec.2, 2020 Nov.3, 2020 Dec.3, 2019… Continue reading Azerbaijani currency rates for Dec. 3

In January-October this year, the Marketing and Economic Operations Department of the State Oil Company of Azerbaijan (SOCAR) exported goods worth $ 114.6 million, “QİA.AZ” says, citing the November issue of the “Export Review” of the Center for Economic Reforms Analysis and Communication. According to the information, this is $ 75 million or 39.6% less than the same period last year. In January-October… Continue reading SOCAR’s Marketing Department earns $ 115 million from exports

In January-October this year, AzerGold CJSC exported products worth $ 88.2 million ($ 17.9 million or 25.5% more than last year), “QİA.AZ” says, referring to the November issue of the “Export Review” of the Center for Economic Reforms Analysis and Communication. AzerGold was established in 2016 by order of President Ilham Aliyev dated February 11, 2015. Its authorized capital is 62 million manats. The activity… Continue reading AzerGold increases export revenues by 26%

Japan’s ruling coalition is discussing inheritance tax exemption on overseas assets for foreigners, as it prepares to compile by about Dec. 10 an annual tax code reform measure for the next fiscal year. Akira Amari, head of the tax commission of the Liberal Democratic Party (LDP), told a Nikkei seminar that he wanted to ensure… Continue reading Japan ruling party weighs up inheritance tax exemption for foreigners

The official exchange rate of the US dollar and euro against Azerbaijani manat was set at 1.7 manat and 2.0535 manat respectively for Dec. 2. Below are the rates of Azerbaijani manat against world currencies according to the data from the Central Bank of Azerbaijan. Currencies Dec. 2, 2020 Dec.1, 2020 Nov.2, 2020 Dec.2, 2019… Continue reading Azerbaijani currency rates for Dec. 2

State Oil Fund of Azerbaijan sold funds in the amount of $495.5 million at foreign currency auctions in November 2020, “QİA.AZ” has reported. According to the statement, there was a decrease in the volume of foreign currency sales by 11.5 percent compared to October. It should be noted that SOFAZ sold funds in the amount of… Continue reading SOFAZ’s sales of foreign currency hit $495.5m in November