WB raises forecast of economic growth in Türkiye

The World Bank expects Türkiye’s economy to grow by 3.2% in 2023.

Shell plans to exit its retail business in three countries

Oil & gas concern Shell plans to exit its retail business in the UK, Germany and the Netherlands, as revenues in this area turned out to be low.

Exports from Istanbul to Azerbaijan up by over 5%

Demand at today’s currency auction decreased by 39%

Following the auction on June 6, the weighted average exchange rate of the manat was formed at the level of 1.7000 AZN/USD.

Almet Trading Baku's profit plummeted

The economic situation of one of the well-known Azerbaijani companies Almet Trading Baku CJSC has become known.

Fines of joint-stock companies reduced

Türkiye’s central bank may be headed by a woman first time

The new governor of the Central Bank will be appointed in Türkiye.

Benefits to be provided in these districts of Nakhchivan

Nakhchivan Autonomous Republic provides benefits to legal entities and individuals in tax, customs, social and other spheres.

Ali Asadov meets with WB’s delegation

Azerbaijani Prime Minister Ali Asadov met with the delegation of the World Bank on June 5.

CBA to be able to create legal entities

It is proposed to give ) the authority to create legal entities, along with the opening of territorial offices, to the Central Bank of Azerbaijan.

Bank's property put up for sale

The Baku branch of the National Bank of Pakistan is putting up for sale its property in connection with the closure.

Projects on private pension funds are planned in Azerbaijan

There are primary projects on the creation of private pension funds

Inflation and unemployment in euro area continue to decline

Annual inflation in the eurozone in May decreased by 0.9 percentage points compared with the previous month, to 6.1%.

Deutsche Bank predicts a wave of defaults

Deutsche Bank analysts say that the current market situation may lead to a wave of corporate defaults.

Economic activity costs increase by 36%

The State Budget 2023 financing related to economic activity will be increased by AZN 2.51 bn or 36.4% from AZN 6.89 bn to AZN 9.4 bn.

VAT revenue forecast increased by 18.4% in Azerbaijan

AZN 7.15 bn of revenues of the revised State Budget of Azerbaijan for 2023 will account for the share of income from VAT.

Türkiye’s foreign trade deficit grows

In April 2023, Türkiye's exports amounted to $19.3 bn (17.1% less against April 2022) and imports $28.69 bn (4.8% less).

India's market capitalization has grown to $3.3 trillion

India's market capitalization has increased up to $3.3 trillion amid the threat of default in the U.S.

Nakhchivan turns into free economic zone

Nakhchivan is turning into a free economic zone, new horizons are opening up for entrepreneurs and investors.

MP: State Budget revenues and expenditures for 2023 to be increased

The Draft State Budget for 2022 was discussed at MIlli Majlis and recommended for consideration at the plenary session.

By 2030, chip production market to reach $1 trillion - Forecast

The chip crisis between the U.S. and China is expanding.