Central Bank of Azerbaijan lowers interest rate
Azerbaijan's Central Bank (CBA) has lowered the benchmark interest rate from 8.5% to 8%. According to the CBA …
finances
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Bank of Russia raises key rate at last meeting in 2023
The board of directors of the Bank of Russia raised its key rate from 15% to 16% per annum at this year’s last meeting, noting that the return of inflation to target in 2024 assume that tight monetary conditions will be maintained in the …
Ilham Aliyev: Azerbaijan is a reliable country between Asia and Europe
Ilham Aliyev said that Azerbaijan had invested more than $20 billion in the economy of the Turkic states. He noted that the country made a valuable contribution to the work of the East-West corridor.
Former Sberbank subsidiary in Kazakhstan could be acquired by new investor
An investor from Qatar is evaluating Kazakhstan's Bereke Bank - a former subsidiary of Sberbank, chairman of the Agency for Regulation and Development of the Financial Market of Kazakhstan Madina Abylkasymova said.
Kazakh Senate ratifies creation of Turkic Investment Fund
Deputies of the Senate of the Kazakh Parliament approved the law "On ratification of the Agreement on the establishment of the Turkic Investment Fund." The initial capital of the Turkic Investment Fund will be $500 million. …
Georgian authorities promise to increase pensions
Georgian authorities have announced pensions increase in 2024
Russian central bank proactively hikes key rate
Russia's Central Bank decided at its board of directors meeting on Friday to raise its key interest rate by 100 basis points to 13%. The Central Bank said that inflationary pressure in the Russian economy remains high. The …
E-commerce sector grows in North Caucasus
In the republics of the North Caucasus, the popularity of e-commerce is growing
Oil, gas, flour: what does Georgia import from Russia?
Russia and Georgia have increased trade by almost a quarter since the beginning of 2023. The export of Georgian goods to Russia has also grown by more than 25%, Georgia supplies water, wine and cars. Russia sells oil, gas and flour.
Russia wants to unblock foreign assets in move to get its own holdings back
Russia’s government and the Bank of Russia have drafted a decree on unblocking a chunk of foreign assets to be exchanged for Russian …
Russian central bank hikes key rate to 12% in extraordinary meeting
Russia’s central bank sharply made a large interest rate hike of 3.5% at an emergency meeting on Tuesday. The decision to bring the key rate to 12% was announced after an emergency meeting of the bank’s board of …
South Korea to return to Iran access to previously frozen $6 billion
According to the agreements concluded by the Islamic Republic with the USA, Iran will get access to $6 billion previously frozen by South Korea.
Georgian and Armenian banks suspend transactions using Unistream
Four Armenian and three Georgian banks have suspended interaction with the Unistream payment system. "Ardshinbank has stopped making money transfers using the Unistream system. We apologize to our clients and propose …
Kazakhstan and Uzbekistan refuse to work with Unistream system
Banks of Kazakhstan and Uzbekistan have suspended cooperation with the Unistream payment system, which fell under US sanctions. Earlier this was done by Georgian and Armenian banks.
Georgia increases foreign trade
Since the beginning of the year, Georgia has increased its foreign trade by more than 20% compared to last year's figures. The country's imports of goods amounted to $7 billion, while its exports was $3 billion.
Türkiye raises minimum wage again
For the second time in 6 months, Türkiye will increase the minimum wage. It will grow by 34% from July 1. This decision will increase the purchasing power of citizens.
Turkey to raise fee for int’l vessels transiting its straits
Türkiye has increased the transit fee it charges commercial ships to use the Istanbul and Çanakkale Straits, in accordance with the rights granted to it by the Montreux Convention, Turkish Transport and Infrastructure Minister …
Türkiye's ready-to-wear exports fall
The sales of Turkish ready-to-wear clothes reduced by 5% from January to May this year. Over the past 12 months, the country exported goods worth $20.7 billion.
Billions of manat to be spend on reconstruction in Karabakh and Zangazur
The state budget of Azerbaijan for 2023 will provide 5.2 billion manat ($3 billion) for expenses related to accelerating construction, restoration and reconstruction work in Azerbaijan’s Karabakh and Eastern Zangazur districts, …
Turkish government's main goals revealed
Türkiye's newly appointed economy chief Mehmet Şimşek said macro-financial stability would be the top priority, stressing "vital importance" to bring inflation down to single digits, increasing predictability and accelerating …
