S&P upgrades Azerbaijan's outlook to positive
S&P Global Ratings revised its outlook on Azerbaijan to positive from stable, the agency said in the report.
finances in Caucasus
Baku hosts IX International Banking Forum
The IX International Banking Forum is being held in Baku today. The event runs under the motto “Reliable, Secure, and Sustainable Banking.”
Armenian Ministry of Defense explains cuts in military spending
The scandal erupted over an infographic previously published by the Armenian Ministry of Defense
Azerbaijan and Georgia increase trade volume
In the first seven months of this year, Azerbaijan and Georgia increased their trade volume by 28.4%. The total amount reached nearly $465 million.
Armenia to take out loan for water infrastructure
The Armenian government has decided to obtain a loan from the World Bank to fund repairs for irrigation systems and residential water supply networks.
Georgia sold state property for $49 mln
In six months, Georgian officials privatized movable and immovable state property for almost $50 mln
Georgia to accept cryptocurrency payments for tourist services
The ordering procedure has not changed with the addition of new payment option
Fitch retains Georgia’s BB rating with Negative Outlook
Fitch noted that in comparison with its peers, Georgia has a high level of economic development
Baku branch of Iran's National Bank resumes operations in Azerbaijan
The Baku branch of Iran’s Melli Bank (National Bank) has fully resumed its operations after a period of inactivity in Azerbaijan. The branch has restarted issuing loans and accepting deposits, marking a full return to regular …
Azerbaijan increases energy exports to Iran
Since the beginning of the year, Iran has purchased 5.8 million kilowatt-hours of electricity from Azerbaijan. In total, Azerbaijan exported almost 300 million in the first two months.
Georgia privatizes more property than planned
In January-March, the republic sold 133 buildings
Georgia's National Bank resumes currency purchases
The National Bank of Georgia resumed purchasing foreign currency on the domestic market in March after a decline in reserves over the previous two months, head of the NBG Natia Turnava said. "March marks the beginning …
Armenia asks Iran to reduce excessive prices for diesel
Armenian trucks are still forced to fill their tanks with extremely expensive Iranian diesel at the border
Baku to allocate record $5bln for military spending in 2025
Given the large-scale militarization of Armenia, Azerbaijan has significantly increased its military budget for the coming year to a record level of 8.4 billion manats, Azerbaijani President Ilham Aliyev said in his address on …
National Statistics Office reveals Georgia's average salaries
Average monthly nominal earnings in Georgia increased by 10.9% in the third quarter of 2024, rising by 201.3 lari to reach a total of 2,056.7 lari compared to the same quarter in the previous year, the National Statistics Office (Sakstat) …
Bidzina Ivanishvili gets $1.13bln richer
Wealth of the ruling Georgian Dream - Democratic Georgia party's founder Bidzina Ivanishvili estimated at $7.73 billion, according to Bloomberg Billionaires Index. Since the beginning of 2024, Ivanishvili's …
Chechnya to host investment forum
Chechnya is organizing the forum "Grozny – City of Opportunities". The event is aimed at developing the investment potential of the republic.
Georgian hotels and restaurants become more expensive
"Sakstat" reported on the change in the cost of goods and services in Georgia in 2024. Hotels and cafes have seen the largest increase, while communication costs have become cheaper.
Ilham Aliyev: Azerbaijan does not depend on anyone
Ilham Aliyev stated that the economic development model of Azerbaijan has proven itself at the global arena
Russia and Azerbaijan increase trade turnover
Trade turnover between Russia and Azerbaijan for 6 months increased by 0.15%. It is more than in 2023. Azerbaijan's exports amounted to more than $556 million.
