Today.Az Covering Azerbaijan inside and outside Today.Az A tear for Argentina Analytics Sat, 02 Aug 2014 11:30:00 +0500 By Kenneth Rogoff,Former chief economist of the IMF, Professor of Economics and Public Policy at Harvard UniversityArgentina's latest default poses unsettling questions for policymakers. True, the country's periodic debt crises are often the result of self-destructive macroeconomic policies. But, this time, the default has been triggered by a significant shift in the international sovereign-debt regime.The shift favors hardline creditors in bond issuances governed by US law. With emerging-market growth slowing, and external debt rising, new legal interpretations that make debt future write-downs and reschedulings more difficult do not augur well for global financial stability.There are no heroes in this story, certainly not Argentina's policymakers, who a decade ago attempted unilaterally to force a massive generalized write-down on foreign bondholders. Economists who trumpeted the "Buenos Aires consensus" as the new way to run economies also look foolish in hindsight. The International Monetary Fund has long recognized that it made one too many loans to try to save Argentina's unsustainable dollar peg as it collapsed back in 2001.This is not the first time that an Argentine default has upended international capital markets. According to the tabulation that Carmen Reinhart and I compiled in our 2009 book This Time is Different, Argentina has defaulted on seven previous occasions - in 1827, 1890, 1951, 1956, 1982, 1989, and 2001.Argentina may be almost as famous for its defaults as it is for its soccer teams, but it is hardly alone. Virtually every emerging-market country has experienced recurrent sovereign-debt problems. Venezuela is the modern-day record holder, with 11 defaults since 1826 and possibly more to come.Back in 2003, partly in response to the Argentine crisis, the IMF proposed a new framework for adjudicating sovereign debts. But the proposal faced sharp opposition not only from creditors who feared that the IMF would be too friendly to problem debtors, but also from emerging markets that foresaw no near-term risk to their perceived creditworthiness. The healthy borrowers worried that creditors would demand higher rates if the penalties for default softened.Recently, as an outgrowth of a reconsideration of the IMF's lending to the periphery of Europe (and Greece in particular), the Fund has advanced another approach to debt rescheduling, one that might be easier to implement. The IMF now recognizes that the bulk of its financing was effectively being used to allow short-term creditors to exit loss-free. As a result, there was not enough money left over to help soften budget cuts necessitated by the sudden stop in foreign funding.The experience of the recent eurozone crisis stands in sharp contrast to the Latin American debt crisis in the 1980s, when banks were not allowed to exit precipitously from their loans. If the new proposal is adopted, the IMF would conditionally refuse funds to countries carrying debt burdens that Fund staff determine are most likely unsustainable; creditors would first have to agree to a "reprofiling" of debt.Reprofiling is a euphemism for debt restructuring, which allows countries to borrow from existing creditors for longer periods and at lower interest rates than they would be able to do on the open market. Although it is far from clear how easily the IMF could hold the line against hard-bargaining creditors, the new policy, if adopted, would toughen the Fund's approach to cases where it finds itself repeatedly throwing good money after bad.At present, the United States seems reluctant to go along with the IMF's proposal. Evidently, US authorities believe that in some situations geopolitics trump economics (reflected, for example, in the IMF's recent re-entry into Ukraine after a string of failed programs).This American resistance is unfortunate. It would be far better if the US found ways simply to organize outright grants in exceptional cases like Ukraine, rather than design the international financial system around them.Given the recurring complications of adjudicating sovereign-debt contracts in foreign courts, and the world's inability to organize a credible and fair procedure for foreign bankruptcies, perhaps the best idea is to steer the bulk of international debt flows through debtor-country courts. Jeremy Bulow and I made a proposal along these lines 25 years ago; it is still the right approach.In this scenario, countries interested in borrowing large amounts from abroad would need to develop institutions that made the promise to repay credible. By and large, experience supports this method. Indeed, the huge expansion in emerging-market domestic-debt issuance in recent years has helped reduce market tensions (though continuing reliance by corporates on foreign debt still leaves many countries vulnerable).But domestic borrowing is not a panacea. To believe that any country issuing debt in its own currency is risk-free as long as the exchange rate is flexible is astonishingly naive. For one thing, there is still inflation risk, particularly for countries with weak fiscal institutions and heavy debt burdens.Nonetheless, Argentina's latest debt trauma shows that the global system for sovereign-debt workouts remains badly in need of repair. Deepening domestic debt markets - and perhaps change along the lines proposed by the IMF - is sorely needed.Copyright: Project Syndicate/AzerNews/ Samsung to launch Galaxy Note 4 on... Business Sat, 02 Aug 2014 11:15:00 +0500 Samsung Electronics Co., Ltd. will launch its Galaxy Note 4 on September 3, 2014. Executives at the Korean company’s top component suppliers told The Korea Times that Samsung will hold a special event to announce the Galaxy Note 4 on September 3, just a couple of days before the IFA kicks off in Berlin.Samsung is looking to rush the Note 4 in an attempt to combat Apple Inc’s iPhone 6, which is expected to hit the shelves in the same month. Sources said that the Korean electronics giant will soon send official invitation letter to media, industry officials and interested parties for the event. Apple will launch 4.7-inch and 5.5-inch versions of the iPhone 6. The U.S. company has asked its suppliers to produce more than 80 million units of the new device by the year-end.Samsung Electro-Mechanics CFO Kwon Young-noh told The Korea Times that the Galaxy Note 4 will sport “far better specifications” than the Galaxy S5, which received lukewarm response in the market. Samsung Electro-Mechanics is an affiliate of the electronics giant and supplies camera modules to Samsung.Though the report doesn’t provide many details about the phone’s feature, it says that the Galaxy Note 4 will come with a metal frame and 5.7-inch QHD display. Samsung will also unveil a curved OLED display version of the Galaxy Note 4, which is not aimed at the mass market. That’s in-line with previous reports that the Note 4 will come in two variants, one with curved display and another with a flat display panel.Sources said that the Note 4 will be the world’s first smartphone to feature an ultraviolet sensor that will protect you against cancer. It will be part of the ‘S Health’ application. The Korea Times noted that the Galaxy Note 4 will run on Qualcomm Snapdragon processor and will “definitely” support 4G LTE technology.Unsurprisingly, Samsung has signed deals with U.S. telecom carriers such as Verizon Communications Inc., AT&T Inc., T-Mobile US Inc and Sprint Corporation for the “guaranteed shipments” of the Galaxy Note 4. The company will also hold a major promotional event in China./Yahoo/ Armenians spark clashes in frontline again, 4 Azerbaijani soldiers killed - UPDTAE Politics Sat, 02 Aug 2014 11:02:00 +0500 Armenian reconnaissance and sabotage groups’ attacked Azerbaijani positions on frontline in the direction of Aghdam-Aghdere tonight.Press service of Defense Ministry told APA that Azerbaijani armed forces prevented the attack and they gave casualties and retreated.4 Azerbaijani servicemen were killed. They are:Warrant office Aliyev Parvin SalahaddinJunior warrant officer Huseynov Rahil AfsarJunior warrant office Ahmadov Elchin RasimExtended serviceman Guliyev Sarkhan GeyratMinistry of Defense presents condolences to family and relatives of martyr and wishes them patient.The situation in the direction where Armenian sabotage was prevented is under the control of Azerbaijani army. *****01.08.201415:12Names of all killed Azerbaijani servicemen made public – LIST5 Azerbaijani servicemen have been woundedNames of all killed Azerbaijani servicemen in he contact line were made public.APA reports that the martyrs are following:Warrant officer Almazov Isa Ziyad, 1977 – drafted from Gazakh regionExtended serviceman Elvin Asgerov – drafted from Shirvan citySoldier Ali Rahimov – drafted from Masalli regionSoldier Mustafa Alijoshgunov – drafted from Khachmaz regionSoldier Saftar Mammadov – drafted from Salyan regionSoldier Elnur Ibrahimov – drafted from GubaSoldier Vugar Poladov – drafted from TovuzExtended serviceman Ahmadov Garyagdi elder, 1992 – drafted from Aghdam region Although extended serviceman Elvin Asgerov, drafted from Shirvan city, was reportedly killed, according to the latest details, he was fatally wounded and hospitalized. He is in critical condition.4 more Azerbaijani servicemen have been wounded in the fight. Their names are being specified.***Another 4 Azerbaijani servicemen have been wounded in a shootout with the enemyAn Azerbaijani serviceman wounded in yesterday’s shootout is dead.Despite their efforts, doctors didn’t manage to save Abdinov Huseyn Etibar oglu’s life, APA’s Karabakh bureau reports.Serviceman Abdinov, drafted from the city of Sumgayit, died in hospital.***10:50The Armenian Armed Forces' reconnaissance and sabotage groups tried to cross the contact line of the Azerbaijani and Armenian troops in the territory of the Aghdam and Terter regions from July 31-August 1, the Azerbaijani defense ministry reported on August 1.The Azerbaijani Armed Forces noticed the enemy and prevented a diversion.While suffering losses, the Armenian Armed Forces' reconnaissance and sabotage groups retreated after an intense firefight.The Azerbaijani Armed Forces also suffered losses.The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan.As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts.The two countries signed a ceasefire agreement in 1994. The co-chairs of the OSCE Minsk Group, Russia, France and the U.S. are currently holding peace negotiations.Armenia has not yet implemented four U.N. Security Council resolutions on the liberation of the Nagorno-Karabakh and the surrounding regions.***An Azerbaijani soldier was killed by the enemy.The Armenian Armed Forces violated the ceasefire once again and fired on the positions of the Azerbaijani Armed Forces at 5:00 p.m. today, the Azerbaijani Defense Ministry told Trend on July 31.As a result of violating the security rules, twenty-two-year-old Azerbaijani soldier Garayagdy Ahmadov drafted from the Aghdam region was killed by the enemy.The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts.The two countries signed a ceasefire agreement in 1994. The co-chairs of the OSCE Minsk Group, Russia, France and the U.S. are currently holding peace negotiations.Armenia has not yet implemented the U.N. Security Council's four resolutions on the liberation of the Nagorno-Karabakh and the surrounding regions.An Azerbaijani soldier was killed by the enemy.The Armenian Armed Forces violated the ceasefire once again and fired on the positions of the Azerbaijani Armed Forces at 5:00 p.m. today, the Azerbaijani Defense Ministry told Trend on July 31.As a result of violating the security rules, twenty-two-year-old Azerbaijani soldier Garayagdy Ahmadov drafted from the Aghdam region was killed by the enemy.The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts.The two countries signed a ceasefire agreement in 1994. The co-chairs of the OSCE Minsk Group, Russia, France and the U.S. are currently holding peace negotiations.Armenia has not yet implemented the U.N. Security Council's four resolutions on the liberation of the Nagorno-Karabakh and the surrounding regions. Eat carefully, food poisoning threats Society Sat, 02 Aug 2014 10:55:00 +0500 By AzerNewsWe all know well that one of the most common problems in the hot summer is food poisoning.High temperature affects negatively not only fast food but also home-made food. Food poisoning comes from pathogenic organism through unsafe products.There is no doubt that outdoor eating during summer is an enjoyable and entertaining hobby but we should never forget about foodborne illness.Bacteria in food multiply fast in hot and humid weather especially when the foods are not stored properly. Preparing and eating food outdoors is very common during summer. The main problem emerges where there is no refrigerator to keep the food safe.Food poisoning can cause vomiting and diarrhoea and it is more serious for people with weak immune systems particularly children and the elderly. However, food poisoning can be avoided on the last hot month of the year with some simple steps.To avoid food poisoning, one must simply follow hygiene rules at home and buy food from reliable catering outlets and grocery stores. Try to avoid eating fast food during the summer, do not buy food at beaches, and pay special attention to children's nutrition.We should be more careful with meat, fruits and vegetables, which have a short life especially in summer. Keep salads and meat safe in fridge at 5 °C or less until cooking or serving.Keep hot food hot at 60 °C or above 75 °C, if you do not want to cool food straight away.If you want to put hot food in refrigerator, do not wait until it is completely cool. Put hot food in the fridge as soon as the steam stops rising.Keep raw meat, chicken and seafood away from cooked food to avoid bacteria. Meanwhile, thaw frozen food right before cooking, preferentially in microwave.Store leftover food no longer than five days and do not overfill the fridge. Wash fruits and vegetable thoroughly to avoid poisoning.Do not risk eating food that was out of fridge for four hours, especially perishable products, most probably you will be poisoned by it and that does not worth it.Another reason for food contamination in the summer is consumption of tomatoes, watermelons, sea products, mushrooms, and ice creams. One of the most serious cases of food poisoning is botulism, which is mostly caused in Azerbaijan by eating homemade canned vegetables.If got poisoned again, you need to act quickly. First, you must wash your stomach from inside and do a cleansing enema. Avoid dehydration and drink a lot of water. Meanwhile consult a doctor to rule out more dangerous diseases as botulism, salmonella, cholera, typhoid and dysentery. Recent Azerbaijani-Armenian army clash disturbs the U.S. Politics Sat, 02 Aug 2014 10:40:00 +0500 The United States expresses its concern about the escalation of violence along the Line of Contact that resulted in significant casualties on July 31, according to the U.S. Department of State press statement made by Deputy Department Spokesperson Marie Harf."We extend our condolences to the families of those killed or injured and call on the sides to take immediate action to reduce tensions and respect the cease-fire. There can be no military solution to the conflict. Retaliation and further violence will only make it more difficult to bring about a peaceful settlement", she said."The United States urges the Presidents of Armenia and Azerbaijan to meet at the earliest opportunity to resume dialogue on key issues. We also call on the parties to accept the proposal from the Organization for Security and Cooperation in Europe Chairman-in-Office to enter into negotiations which can lead to the conclusion of a peace agreement. We remain committed to participating in the Minsk Group process and stand ready to help efforts to bring about a lasting settlement", Marie Harf said.Around eight servicemen of Azerbaijani armed forces have been killed during the fighting over the last three days, the Azerbaijani Defense Ministry said on August 1.The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts.The two countries signed a ceasefire agreement in 1994. The co-chairs of the OSCE Minsk Group, Russia, France and the U.S. are currently holding peace negotiations.Armenia has not yet implemented the U.N. Security Council's four resolutions on the liberation of the Nagorno-Karabakh and the surrounding regions./Trend/ Busquets inherits Puyol's No.5 shirt Sports Sat, 02 Aug 2014 10:25:00 +0500 Sergio Busquets will wear the No.5 jersey left by departed Barcelona skipper Carles Puyol next season - at the request of the former centre-back.The veteran Spaniard ended his playing career to take on a backroom role with the Catalan club this summer, leaving his shirt number vacant after he first took it over from Abelardo in 2002.The 36-year-old, who captained the club to three Champions League titles amongst numerous other trophies, personally requested that Busquets inherited his squad number.Busquets, who came through the ranks at Camp Nou and has worn No.16 for almost all of his first-team career with the club, voiced his pride at following in the footstepts of Puyol."It's an honour to be able to wear the No.5 jersey and that Carles Puyol thought of me to inherit it," he told the club's official site.Puyol himself later tweeted his confidence that Busquets was the right man to take on the number."I've not doubt the No.5 shirt is in the best hands," he said. "I'm sure he will look after it."/Goal.Com/ Happy 116, Azerbaijan cinema! Arts & Entertainment Sat, 02 Aug 2014 10:13:00 +0500 By AzerNewsCinema is doubtlessly one of the most powerful art form that can inspire people for one or other actions and definitely influence on formation of generations.However, this form of art is still very young. Not every country's history of cinematography reached 100 years, while Azerbaijan's cinema celebrates its 116 anniversary on August 2.Azerbaijan, a Muslim country, is still very open to the western world. Azerbaijan is a country that presented the Eastern world the first opera, first woman composer, and many other innovations new to the eastern world.It is a notable fact the film industry in Azerbaijan was established almost at the same time as the invention of moviemaking. Nevertheless, the road of cinema developing was not simple.The history of cinema started in Azerbaijan with French entrepreneur, photographer and cameraman Alexandre Michon, who had been actively involved in documenting oil fields and Baku since 1879.Significant development of the industry was marked when the Belgian Pirone brothers came to Baku and founded a joint-stock company Filma in 1915.The same year a first full-length feature film in Azerbaijani cinema - "In the realm of oil and millions" - was shot by Russian director and film producer Boris Svetlov with the financial support from oil barons of Baku.The movies of this period in Azerbaijan mostly focused on the lives of laborers, oil fields and revolution.A year later Svetlov directed the first musical comedy - "Arshin mal alan" by great composer Uzeyir Hajibeyov. It was a silent movie and the musical parts were performed by indoor musicians. Years later, in 1945, the movie was also remade as a sound film and gained popularity.At that time, men actors played women parts in the films, however, starting from 1920th, women actors started to shot in the Azerbaijani films.The first cinema factory was established in Azerbaijan in 1922 that was later renamed to Azerbaijan Photo-Film Department. The Department controlled all of the film distribution offices and private cinemas.Starting from this, the era of private entrepreneurship in film industry ended and propaganda of Soviet ideology became the main idea of cinematography.During the Soviet time, most of the famous and beloved movies in Azerbaijani cinema were musical comedies, as a severe censorship made it hard to make movies on serious issues.Another significant moment in Azerbaijani cinematography became creation of the movie "On the shores of a blue sea" - the first sound film in 1935.25 years later the first wide-screen color film in the history of Azerbaijani cinema, "Koroglu" depicted the folk legend about an Azerbaijani hero fighting against the foreign invaders.After gaining independence in 1991 Azerbaijani cinema entered a new stage hard and not stable, however, the local film industry kept producing new movies.Starting from this time, movies addressed more serious issues including patriotic one. Over thousand movies were produced in Azerbaijan in 24 years and the process of producing new ones is flourishing.Opening new comfortable movie theaters in Baku attracted more people to the cinema, however, most part of the repertoire here are still came from foreign directors.However, Azerbaijan is rich with talents, more and more films from Azerbaijan are now participating and winning international festivals, which indicates that the film industry in the country will reach new heights in the near future. Aida Mahmudova among most influential women artists Arts & Entertainment Sat, 02 Aug 2014 10:00:00 +0500 By AzerNewsAida Mahmudova, the founder of "YARAT" Contemporary Art Space, has been included in the list of the eight most influential women in Central Asian and Caucasian art, leading art and cultural websites reported.The article said the world's largest contemporary art event, the Venice Biennale, has welcomed a Central Asian pavilion since 2005. However, despite the success of these exhibitions, Central Asia's art and artists remain relatively unknown.Along with Aida Mahmudova, the list includes Mila Askarova, founder and director of London's Gazelli Art House, artists Aza Shade, Almagul Menlibayeva, Annya Sand, Sara Raza, Gayane Umerova and Natalya Dyu.The website presents information about Aida Mahmudova's art programs: "Not content with being a prominent artist, 32-year-old Aida Mahmudova is also one of Azerbaijan's most important contemporary art movers and shakers."In 2011, she founded YARAT, the country's best-known non-profit art space, the aim of which, says Mahmudova, is to support Azerbaijani artists and to identify international platforms with which these artists can work. Master classes, UK-Azerbaijan exchange programs, solo and group exhibitions all contribute to the development of the country's art scene."The website went on saying since her first European solo show in 2013, Mahmudova herself has continued to make work that meshes various media, reflecting on modern Azerbaijan through a wash of nostalgia."As the niece of the current First Lady of Azerbaijan, Mahmudova splits her time between Baku and London, sparking connections between Central Asia and the international commercial art scene," the article said.YARAT is a non-profit organization dedicated to nurturing an understanding of contemporary art in Azerbaijan and creating a platform for Azerbaijani art, both nationally and internationally.Based in Baku, YARAT ("create" in Azerbaijani) realizes its mission through an ongoing program of exhibitions, education events, and festivals. The organization facilitates dialogue and exchange between local and international artistic networks, including foundations, galleries, and museums. Tbilisi court orders pre-trial detention for ex-Georgian President Saakashvili World news Sat, 02 Aug 2014 09:45:00 +0500 A court in the Georgian capital of Tbilisi ruled late on Friday night to issue a pre-trial detention term for former President Mikhail Saakashvili for the duration of an investigation against him on power abuse charges, ITAR-TASS reported.The Georgian Main Prosecutor's Office formally pushed on Monday charges of abuse of office against Saakashvili, who is currently reported to be staying in New York. Prosecutors later submitted a motion with the Tbilisi Municipal Court to put Saakashvili under detention."In recent months Saakashvili repeatedly ignored Main Prosecutor Office's calls to appear as a witness in a number of important court trials and then refused distant questioning via Skype," a spokesman for the Prosecutor's Office said after late Friday court's hearings adding that the ruling was "substantiated and just."Saakashvili's lawyer Otari Kokhidze said, however, that the court's ruling was "ungrounded" and that the defense of the former Georgian president would appeal the decision in higher court establishments.Georgia's Main Prosecutor's Office announced in March that Saakashvili had been summoned as a witness over a number of cases, in particular, over the case of the death of Georgian prime minister Zurab Zhvania, the case of a special operation to suppress the rebellion of a battalion of Georgia's armed forces in Mukhrovani in 2009, illegal actions against the family of businessman Badri Patarkatsishvili and other cases.Saakashvili was earlier reported to be mostly staying in Ukraine, where he allegedly worked since the beginning of the year as an unofficial adviser to the Ukrainian government.On Wednesday he spoke with Georgia's Rustavi-2 television channel from Hungary's Budapest and called prosecutors' investigation against him as biased."Someone is obviously dismayed by my current activity in connection with events in Ukraine," Saakashvili said adding that he did not plan to wrap up his current political activities."I recently visited Albania and now I am in Hungary at Prime Minister Victor Orban's invitation and I plan visiting a number of other countries as well in the near future," Saakashvili said. "I am not seeking any political asylums as I do not need this."On Friday, in another interview with Rustavi-2, but this time from New York, Saakashvili said he had no intentions of cooperating with the Georgian investigative authorities and appearing for questioning./Trend/ Legend of Azerbaijani football passes away Sports Sat, 02 Aug 2014 09:30:00 +0500 otball team, member of the Executive Committee of AFFA, the holder of Shohrat Order Alakbar Mammadov has died at the age of 84.Alakbar Mammadov was born in Baku on May 9, 1930. He played in Neftyanik Baku from 1948-1953, and continued his career in Dinamo Moscow from 1954. He was a four-time champion player in the Soviet Top League and a member of the Soviet national team.He scored 56 goals in the Soviet Top League in his 185 appearances.He won the European Cup in 1958. In 1960 he returned to Neftyanik Baku. Mammadov ended his career in the end of 1962. He managed Neftchi and the Azerbaijan national football team. Mammadov scored four goals against Milan at the San Siro Stadium on September 4, 1955.May Allah rest his soul in peace!/AzerTAc/ International Medical Research Center after academician Zarifa Aliyeva presented its website Politics Sat, 02 Aug 2014 09:15:00 +0500 The Kiev-based International Medical Research Center after academician Zarifa Aliyeva has presented its website.Participants in the launch ceremony included members of the Board of Directors of the center, its Coordination and Scientific councils, as well as acclaimed Ukrainian scholars in the fields of medicine and education, media representatives from Azerbaijan, Ukraine, Czechia and Poland.In an interview with AzerTAc, director of the International Medical Research Center after academician Zarifa Aliyeva, Aydin Salmanov, said the center would play the role of a bridge between Azerbaijani and Ukrainian scholars as well as between the two countries in the fields of medical sciences, healthcare and education.The center has recently presented the Science and Medical Library after academician Zarifa Aliyeva. The library will hold materials that support study and research in the field of medicine. The collection of the library will include works by prominent Azerbaijani scholars in Azerbaijani, Ukrainian, English, Russian and other languages.The library is the first ever Azerbaijani library of medical literature abroad set up by Azerbaijani scholars. The library currently features more than 1,000 documents, including electronic material./AzerTAc/ Ronaldo goes to court over his moniker CR7 Sports Fri, 01 Aug 2014 18:05:00 +0500 Christopher Renzi, the current owner of the "CR7" trademark in the U.S., has opened legal proceedings against Cristiano Ronaldo and the company who controls his marketing affairs, JBS Textile Group.Renzi is seeking official confirmation the moniker is his after receiving threatening letters from JBS, who possesses "imminent plans" to launch an underwear range featuring Ronaldo's name and symbolic stamp in America, reported by Andrew Chung of Reuters and via ESPN FC:"BS has also asked the U.S. Patent and Trademark Office to cancelRenzi's trademark. But Renzi, who registed (sic) the "CR7" trademark in 2009, has filed a lawsuit against Ronaldo in order to prove that he owns the licence to the term in the U.S."Renzi is said to have utilised the initials across a range of branded clothes. The three-character design relates to his name and Oct. 7 date of birth, but Ronaldo's representatives believe this was deliberately used in order to capitalise on the player's global marketability.JBS indicates the CR7 tag is "so closely tied to the fame and reputation of Cristiano Ronaldo, that a connection with the soccer player would immediately be presumed by the general public," a factor that would likely increase the chances of making sales, per ESPN FC.Ronaldo currently enjoys a number of prosperous sponsorship deals and is a marketing juggernaut in himself. He earns around £14.1 million per year advertising Nike products and joined Tag Heuer prior to the World Cup. The former Manchester United star is also the face of Konami's Pro Evolution Soccer video game series, underlining his appeal across a range of different products.Michael Feldhuhn, Renzi's lawyer, indicated his client isn't worried about the likely battle to secure the rights. "We just want them to leave us alone," said Feldhuhn, per ESPN FC. He suggests it isn't a matter of fame, but who used the styling first. "We can show we were the first use of the CR7 name in commerce in America," said the lawyer./AzerTAc/ Europe hits Russia's biggest banks Business Fri, 01 Aug 2014 17:55:00 +0500 Europe cranked up the pressure on Russia on Thursday by including the country's top two banks on a list of sanctions.Publishing details of new measures aimed at disrupting activity in Russia's banking, oil and arms industries, the EU said Sberbank and VTB Bank were now banned from raising medium and long-term finance in Europe.Also on the list: Gazprombank, VEB and Russian Agricultural Bank -- state-controlled banks that can no longer tap European financial markets.Four of the banks were already subject to similar U.S. sanctions. But Sberbank had managed to escape punishment until now.Sberbank is a Russian heavyweight, accounting for nearly 30% of all Russian banking assets.More than half of Russia's population are Sberbank customers, and it provides nearly a third of all loans, providing vital funding for the struggling economy.It counts France's BNP Paribas as a strategic partner.Europe has been shaken into taking tougher action by the downing of a Malaysian airliner over eastern Ukraine earlier this month, and by Moscow's continued support for the separatist rebels Western officials blame for the crash.Apart from restricting Russia's access to finance, Europe has imposed an arms embargo and will make it more difficult to export some oil-related equipment and technology to the energy-dependent economy.The EU had trailed the U.S. in taking action over the Ukraine crisis, largely because of fears of damaging a relationship worth $500 billion in trade and investment each year.Russia's economy is already suffering from the impact of sanctions, and that is beginning to hurt Western firms with significant business ties./CNN/ Armenia tries to divert attention by violating ceasefire Politics Fri, 01 Aug 2014 17:40:00 +0500 While using the power and through external trustees, Armenia wants to further strengthen its position in the occupied territories of Azerbaijan, as well as exerts efforts to recognize the illegal separatist regime. Thus, it violates ceasefire to divert attention from these issues, deputy speaker of the Azerbaijani Parliament Bahar Muradova told Trend on August 1.He was commenting on frequent violations of the ceasefire by the Armenian side."Armenia is trying to accuse Azerbaijan of its own provocations," she added."Armenia's actions are illogical, as from the point of view of normal logic, occupation of a neighboring country's lands is beyond any limits," Muradova added. "An attempt to present the occupation of lands as legitimate actions has no basis in international law.""Armenia is trying to create the second Armenian state on Azerbaijani lands," Muradova said."The world processes, conflicts observed in many regions of the world further stimulate Armenia," she said."Seeing that such actions remain unpunished in the world and the world's attention is directed in the opposite direction, Armenia is expanding its activity to strengthen its positions in the region and to present the occupation of lands as legitimate actions," she added. "However, Azerbaijan continues revealing Armenia's actions, which are contrary to the principles of international law."Muradova added that Azerbaijan has chosen the right direction in the implementation of global projects. It deprives Armenia of opportunities for economic cooperation and does not allow using the opportunities of the regional countries and Azerbaijan."Justice is on the Azerbaijani side," she said. "It is clear that Azerbaijan's activity has logical and legal basis."Armenian armed forces launched a diversion on the night of July 31-August 1, when reconnaissance and sabotage groups tried to cross the contact line of the Azerbaijani and Armenian troops through the territories of Aghdam and Terter regions.According to the Azerbaijani defense ministry, the effort was revealed and prevented in time, by Azerbaijani armed forces.An intense firefight resulted in losses from both sides, as Armenian reconnaissance and sabotage groups were forced to retreat.The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan.As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts.The two countries signed a ceasefire agreement in 1994. The co-chairs of the OSCE Minsk Group, Russia, France and the U.S. are currently holding peace negotiations.Armenia has not yet implemented four U.N. Security Council resolutions on the liberation of the Nagorno-Karabakh and the surrounding regions./Trend/ Israel resumes its military operation in Gaza Strip World news Fri, 01 Aug 2014 17:25:00 +0500 Israel has resumed its military operation in the Gaza Strip, Turkish Anadolu agency reported.Four Palestinians were killed as a result of the resumption of the military operation in Gaza.On August 1, Israel agreed to a three-day humanitarian truce in the Gaza Strip, previously announced by UN Secretary General Ban Ki-moon and U.S. Secretary of State John Kerry.During his visit to India, U.S. Secretary of State John Kerry announced that the parties agreed to a ceasefire from 08:00 on August 1.Previously, the Islamic Resistance Movement (Hamas) in Gaza confirmed consent of all factions of the Palestinian resistance for a 72-hour truce with Israel.More than 1,500 Palestinians were killed and 7,000 were injured as a result of Israel's military operation in the Gaza Strip.Some 20 mosques and more than five hospitals were completely destroyed during the hostilities.The Israeli army lost some 131 servicemen during the hostilities in Gaza, Turkish Anadolu agency reported citing the military wing of Hamas movement. However, the Israeli authorities do not confirm this information./Trend/ Ebola fear grows as Commonweatlh Games athlete infected Weird / Interesting Fri, 01 Aug 2014 17:10:00 +0500 An athlete taking part in the Commonwealth Games has told of his terror at being quarantined after it was feared he had brought Ebola to Britain.Road cyclist Moses Sesay, 32, from Sierra Leone was admitted to a Glasgow hospital last week after feeling unwell and doctors tested him for various conditions, including the deadly Ebola virus.But Sesay has declared a public health emergency, was given the all-clear and released from hospital in time to compete in the men’s individual time trial at the Games yesterday.He told the Daily Mirror: ‘I was admitted for four days and they tested me for Ebola.‘It came back negative but they did it again and this time sent it to London, where it was also negative.’Glasgow 2014 released a statement confirming that there has been no outbreak of Ebola in the Athletes Village or anywhere else in the UK.They said: “We can confirm an athlete was tested for a number of things when he fell ill last week, including Ebola. The tests were negative and the athlete competed in his event on Thursday.A spokeswoman for Health Protection Scotland added it was an isolated incident and no other athletes were tested.The ongoing epidemic of Ebloa in west Africa has caused 729 deaths so far./Metro.Co.Uk/ Cristiano great, but Luis Nazario the greatest Sports Fri, 01 Aug 2014 16:55:00 +0500 Former Manchester United and Inter defender Mikael Silvestre has heaped praise on Goal 50 winner Cristiano Ronaldo, but says that his Brazilian namesake Ronaldo was the best player he ever played with.The retired Frenchman had the honour of playing with both footballing icons during his career, lining up with the 2002 World Cup hero at Inter and the Portuguese superstar at Manchester United."Both of them were great. Both of them very good team-mates and more importantly great human beings," Silvestre told Goal. "But the Brazilian Ronaldo was out of this world. He was phenomenal."You can't really compare them as one was more a No.9 and the other was a winger. They play in different styles and positions."But Ronaldo was [the best I ever played with] because he was a natural talent. Even when he was injured and overweight, he was still very good."Cristiano Ronaldo clinched his third Goal 50 this week, claiming the prize ahead of Bayern Munich's Arjen Robben and Barcelona's Lionel Messi./Goal.Com/ Current oil prices in world markets Business Fri, 01 Aug 2014 16:40:00 +0500 The price of oil has continued to fall in the world markets.On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the US Light crude oil fell $2.10 to stand at $98.17.Price of British Brent crude oil at the London ICE (InterContinental Exchange Futures) decreased $0.49 to trade at $ 106.02.The Department of Marketing and Economic Operations of the State Oil Company of Azerbaijan said a barrel of Azeri Light crude oil decreased $1.465 to stand at $107.005./AzerTAc/ Volcano erupts in Azerbaijan Society Fri, 01 Aug 2014 16:25:00 +0500 Volcano eruption has occured in Azerbaijan. The mentioned natural event has been seen in Gobu settlement terrritory, Day.Az informs citing to Aspress. According to the settlement residents, the volcano has became active at night: "It started to erupt near the houses in settlement".Residents added that the last volcano eructation in Gobu happened 40 years ago. "Flame began to spark at night. Residents are very worried. Flame is keeping to incrase", - they said. OSCE monitoring ends without incidents Politics Fri, 01 Aug 2014 16:10:00 +0500 The latest monitoring on the contact line of the Azerbaijani and Armenian armies has passed without any incidents.The monitoring was held on August 1 under the mandate of the OSCE Chairperson-in-Office Personal Representative, on the contact line located near the village of Kuropatkino of Azerbaijan's Khojavend region, Azerbaijani Defense Ministry said.On the Azerbaijani side, the monitoring was carried out by the OSCE Chairperson-in-Office Personal Representative, Andrzej Kasprzyk and field assistant of the OSCE Chairperson-in-Office Personal Representative, Jiri Aberle.On the opposite side, the monitoring was conducted by field assistants of OSCE Chairperson-in-Office Personal Representative, Evgeny Sharov, Hristo Hristov and Peter Svedberg.The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts.The two countries signed a ceasefire agreement in 1994. The co-chairs of the OSCE Minsk Group, Russia, France and the U.S. are currently holding peace negotiations.Armenia has not yet implemented the U.N. Security Council's four resolutions on the liberation of the Nagorno-Karabakh and the surrounding regions./Trend/ Turkey consiuders to buy new satellites World news Fri, 01 Aug 2014 15:55:00 +0500 Turkey plans to buy new satellites, the country's Haber7 TV channel reported on July 31.It is also expected to launch the Turksat 4B satellite into orbit in 2014, following that Turkey will work on purchasing two new satellites such as Turksat 5? and Turksat 6?, according to the TV channel.The Turksat 4A satellite was launched into orbit from Kazakhstan's Baikonur cosmodrome on February 14, 2014.The launch of the satellite was attended by Turkey's Minister of Transport, Maritime Affairs and Communications, Lutfi Elvan.The Turksat 4A satellite, built by the Japanese Mitsubishi Electric, was handed over to Turkey on January 8, 2014.The first Turkish reconnaissance satellite 'RASAT' was launched in 2011.Turkey launched its second satellite - Gokturk-2 from the Chinese Zhiuguan base on December 18, 2012. The satellite is used for defense purposes.Turkey plans to launch Turksat 3A satellite in 2019./Trend/ Be ready, hot weekend expected Society Fri, 01 Aug 2014 15:40:00 +0500 Sunny weather to have soft wind from the south-east on August 2 in Baku and Absheron peninsula. The temperature will be +22-26C at night, while and +32-37C in the noon. Sea water temperature in Absheron beaches will be +25-28C.No precipitation is forecasted in Azerbaijani regions. South-eastern wind to blow. The temperature will be +20-25C at night and +33-38 and in the noon, while +12-17C in mountains at night and +24-29C in the noon. /Eco.Gov.Az/ Maternal mortality in Azerbaijan Society Fri, 01 Aug 2014 15:27:00 +0500 By AzerNewsThe birth of a baby is an exciting event that brings much joy and delight to the parents, their relatives and friends. Babies inspire parents to hope for a brighter future. They also give new meaning to their parents' lives.So, young parents should brace themselves for the birth of their baby some months earlier. But regretfully this point is not taken seriously in most cases.First of all, they need to learn the basics of child psychology. To this end, they should read relevant books. Having prepared accordingly, the parents would know well what they should do when their babies are born. For example, they would know how to develop the intellectual abilities of their infant.Modern medicine has come a a long way to help women deliver healthy babies, however, in some cases the science remains silent because it has no way out to offer. In 1995 for every 100 000 births in Azerbaijan there were 83 deaths. That figure dropped to 26 in 2013. This is certainly a good start, but there is still a long way to go.So, what are the main reasons behind mothers' death during childbirth? What are the main preventive measures?Nature remains unpredictable during pregnancy, delivery and postpartum period. Maternal mortality refers to the death of women during pregnancy and childbirth. "Some of them die during the 42 days that follow the birth," according to the Internet web-site Saving Mothers Giving Life.The facts that some mothers mistrust doctors and do not consult them about childbirth planning leads to undesirable outcomes. Skilled care before, during and after childbirth can save the lives of mothers and their newborn babies.Maternal deaths can be prevented by some simple, effective and low-cost intervention, even in the countries with limited resources.Earlier, the spokesperson of Azerbaijan's Health Ministry, Anar Gadirli noted that maternal deaths have decreased in Azerbaijan over the past years.The main reason behind the deaths, according to the spokesperson is that most don't seek medical help.He also noted that only in rare instances, problems occurs because of carelessness of doctors."This issue is investigated by Assistant Commission of Birth. If I am not wrong, nine doctors were retired last year. This year there have been dismissals, as well," Gadirli stressed.Certainly, this issue has been the cause of concerns among pregnant women.Azerbaijan is still grappling with a certain number of deaths during childbirth. So, the country's Health Ministry is working hard to bring the number down.Doctor Adil Geybulla noted that maternal and child deaths require a comprehensive investigation."In the past years, this type of information was not publicized. But now the internet allows public access to such information," Doctor Geybulla said.Every day, approximately 800 women die of preventable causes related to pregnancy and childbirth worldwide.Between 1990 and 2013, maternal mortality worldwide dropped by almost 50 percent, according to the World Health Organization (WHO).Experts of WHO note that globally, there were 289 000 estimated maternal deaths in 2013. This index showed a decline of 45 percent from 1990.As much as 99 percent of all maternal deaths occur in developing countries. ADB supports Azerbaijan on highway construction Business Fri, 01 Aug 2014 14:50:00 +0500 The Board of Directors of the Asian Development Bank (ADB) has approved a loan worth $ 250 million for the construction of the Masalli-Shorsulu highway.The total cost of the project is $332 million, of which $82 million accounted for the country's share in the project, according to a statement posted on the ADB official website.ADB has allocated funds remaining as part of the second multi-tranche financial package, intended for the construction of roads in the country, to implement this project.The second multi-tranche package for the construction of roads was approved in November 2012 in the amount of $500 million, as well as the first MFF.The 63 kilometer Masalli-Shorsulu highway consists of two parts: Masalli-Jalilabad (32.2 kilometers) and Jalilabad-Shorsulu (in Salyan region). The cost of the project is $625 million, $125 million of which will be provided by the country's government.Within the first tranche, the ADB allocated $250 million to build a four-lane Masalli-Jalilabad road. The total cost of the project amounted to $312 million, of which $62 million fell to the Azerbaijani government's share in the project. The loan agreement was signed in April 2013.ADB was established in 1966 and has 67 members. The bank's headquarters is located in the capital of the Philippines, Manila. Azerbaijan joined ADB on December 22, 1999.The country's share in the bank's capital is 0.5 percent.ADB's leading shareholders are Japan and the United States (31.2 percent of the total share capital), India and China (12.8 percent), Australia, South Korea and Canada (16 percent)./Trend/ Blackberry pushes BBM into Windows phones Weird / Interesting Fri, 01 Aug 2014 14:30:00 +0500 BlackBerry Ltd said on Thursday its popular messaging system BBM, or BlackBerry Messenger, would now be open to those using the Windows phone platform, a move that potentially makes the messaging service more appealing to its enterprise clients.BlackBerry, which is seeking to reinvent itself as a more software and services driven company as its smartphone market share has dwindled, has been lately touting new BBM features in a bid to make it a more viable messaging tool for clients such as corporations and government agencies that are on the lookout for a secure messaging service.The company, last year, opened the service to phones powered by Google Inc's wildly popular Android operating system and Apple's iOS platform. The rollout to the Windows phone platform means the service is now available on all major smartphone platforms, making it a more viable option for those clients that are considering using it as a communication tool.BBM was a pioneering mobile-messaging service, but its user base has failed to keep pace with those of WhatsApp and other rivals, in part because BlackBerry had long refused to open the program to users on other platforms.While the messaging service still has over 85 million active users, BlackBerry in a bid to boost its relevance and cater to the needs of its core enterprise audience is now marketing it as a secure communications tool for government agencies and regulated sectors, such as financial services.Last month, BlackBerry began to roll out BBM Protected, a secure messaging service tailored specifically to the needs of companies in regulated sectors.The move is part of a broader push that has also seen BlackBerry widen its device management capabilities to include devices that are powered by the Android, iOS, and Windows platforms.A move to bring BBM to desktops is still a ways off."I can't tell you whether we are going to do BBM on desktop. That is a collaboration we have to have between us and Microsoft and I wouldn't be able to comment on that, because we certainly have the desire, but between that and getting it done there is still a gap," said BlackBerry Chief Executive John Chen, in an interview with Reuters earlier this week.Earlier this year, Chen had said that BlackBerry was looking into the possibility of bringing BBM to desktop computers, thus allowing employees of companies and government agencies to go mobile on group chats started on their computers without missing a beat. /Reuters/ English Premier League approves to use WC spray Sports Fri, 01 Aug 2014 14:14:00 +0500 The vanishing spray used by referees at the recent FIFA World Cup has found a new home in the English Premier League.The biodegradable foam, which provides a visual 10-yard marker at free kicks to stop defenders encroaching, will make its debut in the 2014/15 season."At the Premier League we are open to developments that enhance the competition and it was clear from watching the 2014 FIFA World Cup in Brazil that Vanishing Spray benefited referees, players, and all of those who watched the matches," Premier League chief executive Richard Scudamore said in a statement.The move follows consultations with both Premier League clubs and referees.The spray will be used for the first time in the match between Manchester United and Swansea City at Old Trafford on August 16.Mike Riley, general manager of the Premier League refereeing body -- the Professional Game Match Officials Limited -- welcomed the idea."As an assessor at the 2014 FIFA World Cup in Brazil I saw firsthand the benefits of Vanishing Spray for referees, and for the game as a whole," Riley said in a statement."The Select Group referees are looking forward to using it during Barclays Premier League matches next season."The spray, which proved a hit with players, fans and officials at Brazil 2014, has been used in Major League Soccer (MLS) for several years./CNN/ XXL in fall-winter 2015 collection Arts & Entertainment Fri, 01 Aug 2014 13:48:00 +0500 By AzerNewsWhile we are desperately seeking new ways to escape the hot summer and taking every opportunity to go to the sea for sun tanning, designers are diligently working to create a perfect image for us during cloudy fall and cold winter days.Representatives of many fashion houses have presented their collections for fall-winter 2015. These collections differ with last years' collections in terms of colors and unusual style. New collections show that this winter will not be boring.Well-chosen colors not only refresh the style, but also transform a "gray mouse" to a particularly confident woman.There are some colors for fashion-mongers, which will be irreplaceable this fall-winter. Shades of autumn forest, the whole range of blue shades, muted yellow, purple haze, red Spanish wine and certainly pastel shades would remain among the dominant colors this year. But red will have the highest position in the new seasons.Designers are expected to offer dresses from translucent fabrics with elements of sport style using lace and ruffles and ladylike style clothes in which pantsuits will have the upper hand. But special attention is paid to the oversize style.Oversize is thought-out casual stile, when you usually wear clothes bigger than your real size. Many famous fashion designers included oversized clothes to their fall-winter 2015 collection. Knitted and warm oversized sweaters with colorful print will make you feel comfortable in the cold rainy day.This is a good news for those who are concerned about their weight and do not know what to wear. Fashion houses offer many variations of dimensionless clothing. These oversized dresses, shirts, T-shirts, jeans, trousers and other clothes are very comfortable in everyday life. In addition, they give you an opportunity to hide your figure flaws.What you must have for 2014-2015 are coats of massive sizes. You can wear them both with oversized and little black dress. However, famous fashion designers as well as Karl Lagerfeld suggest wearing them with sport style, especially with trainers.The oversized style - which is very similar to boyfriend style - is very likely to be the main style this year. Walking in the city you can see people in torn jeans and wide t-shirt, which is very comfortable in hot summer days in comparison with tight clothing.Oversized style looks incomplete without accessories. Designers recommend completing it with massive bag, sunglasses, jewelry or watches. They also notify to avoid combining this style with rhinestones and spacious skirts, as it may be overloaded. Oversize style doesn't mean that your clothes should hang out. Conversely they must sit ideally and encircle the waist.This style appeared in 1980th and came into vogue again since 2010. This outfit stays as a symbol of femininity, regardless of size and style.If you carefully pick up oversized clothing, you can easily create an unusual and stylish appearance this winter. Exchange rate of Azerbaijani manat compared to world currencies Business Fri, 01 Aug 2014 13:34:00 +0500 The exchange rate of AZN compared to the world currencies and precious metals on August 1, according to the Central Bank of Azerbaijan. Currencies and precious metals July 31, 2014 August 1, 2014 1 U.S. dollar 1 USD 0.7842 0.7843 1 euro 1 EUR 1.0506 1.05 1 Australian dollar 1 AUD 0.7311 0.729 1 Argentinian Peso 1 ARS 0.0958 0.0955 100 Belarusian Rubles 100 BYR 0.0076 0.0076 1 Brazilian Real 1 BRL 0.349 0.347 1 UAE dirham 1 AED 0.2135 0.2135 1 South African Rand 1 ZAR 0.0734 0.0732 100 South Korean Won 100 KRW 0.0764 0.0759 1 Czech koruna 1 CZK 0.0382 0.038 1 Chilean Peso 1 CLP 0.1372 0.1372 1 Chinse Yuan 1 CNY 0.127 0.127 1 Danish Krone 1 DKK 0.1409 0.1408 1 Georgian Lari 1 GEL 0.4517 0.4554 1 Hong Kong Dollar 1 HKD 0.1012 0.1012 1 Indian Rupee 1 INR 0.013 0.0129 1 British pound sterling 1 GBP 1.3271 1.3236 100 Indonesian rupiah 100 IDR 0.0068 0.0067 100 Iranian rials 100 IRR 0.0031 0.0031 1 Swedish Krona 1 SEK 0.1139 0.1137 1 Swiss Franc 1 CHF 0.8632 0.863 1 Israeli Shekel 1 ILS 0.2288 0.2289 1 Canadian Dollar 1 CAD 0.7193 0.7185 1 Kuwaiti Dinar 1 KWD 2.7682 2.7686 1 Kazakhstan Tenge 1 KZT 0.0043 0.0043 1 Kyrgyz Som 1 KGS 0.0152 0.0152 1 Lithuanian Litas 1 LTL 0.3043 0.3041 100 Lebanese pounds 100 LBP 0.0518 0.0519 1 Malaysian ringgit 1 MYR 0.2459 0.2446 1 Mexican Peso 1 MXP 0.0596 0.0594 1 Moldovan Leu 1 MDL 0.0566 0.0566 1 Egyptian Pound 1 EGP 0.1097 0.1097 1 Norwegian krone 1 NOK 0.1253 0.1248 100 Uzbek soums 100 UZS 0.0337 0.0337 1 Polish Zloty 1 PLN 0.2527 0.2513 1 Russian ruble 1 RUR 0.0221 0.0219 1 Singapore Dollar 1 SGD 0.6296 0.6283 1 Saudi Riyal 1 SAR 0.2091 0.2091 1 SDR (IMF Special Drawing Rights) 1 SDR 1.2023 1.201 1 Turkish lira 1 TRY 0.3675 0.3661 1 Taiwanese Dollar 1 TWD 0.0262 0.0261 1 Tajik Somoni 1 TJS 0.1564 0.1574 1 New Turkmen manat 1 TMM 0.2752 0.2752 1 Ukrainian hryvnia 1 UAH 0.0641 0.0639 100 Japanese yen 100 JPY 0.763 0.7621 1 New Zealand dollar 1 NZD 0.6669 0.6668 Gold (1 ounce) 1 XAU 1015.1469 1008.0216 Silver (1 ounce) 1 XAG 16.1075 16.2272 Platinum (1 ounce) 1 XPT 1160.616 1154.4896 Palladium (1 ounce) 1 XPD 688.5276 690.184/Trend/ Azerbaijan's southern lands stun German visitors Society Fri, 01 Aug 2014 13:20:00 +0500 The winners of quiz about Azerbaijan held in Germany are visiting the south regions of country, AzerTag state news agency reported.The quiz held by Azerbaijani businessman Emil Hasanov aimed to popularize Azerbaijan in Germany, inform the Germans on socio-political development of the country, its tourism potential and national-spiritual values.Hasanov said he has been holding a quiz about Azerbaijan in Germany in the last six years. At his words, the participants who answer correctly the questions on Azerbaijan are announced winners and they are invited to a 10-day travel to Azerbaijan.Susanna Vegeres, one of the winners, said she was "happy to be in Azerbaijan, to enjoy hospitability of Azerbaijanis." She especially "likes tandir bread that is very tasty", she said.Another German guest Stephan Filos expressed admiration for the nature of Azerbaijan, in particular, the weather and forests in the south regions of country and its delicious cuisine.Hasanov said he has decided to take Azerbaijanis to visit Germany, too. And related quiz involving about 100 people has already been organized in Masalli region.Shafa Agayeva, a student, has won the quiz and will visit Germany together with two of her friends./AzerNews/ Turkey works achieve long-term truce in Gaza, FM says World news Fri, 01 Aug 2014 13:06:00 +0500 Turkey exerts efforts to achieve a long-term truce in the Gaza Strip, Turkish Foreign Minister Ahmet Davutoglu said on August 1, Turkish news agency Anadolu reported."The Turkish leadership is currently in talks on resolving the crisis in Gaza with U.S. Secretary of State John Kerry and Foreign Minister of Qatar Khalid bin Mohammad Al Attiyah," he said.On August 1, Israel agreed to a three-day humanitarian truce in the Gaza Strip, previously announced by UN Secretary General Ban Ki-moon and U.S. Secretary of State John Kerry.During his visit to India, U.S. Secretary of State John Kerry announced that the parties agreed to a ceasefire from 8:00 on August 1.Previously, the Islamic Resistance Movement (Hamas) in Gaza confirmed consent of all factions of the Palestinian resistance for a 72-hour truce with Israel.More than 1,500 Palestinians were killed and 7,000 were injured as a result of Israeli hostilities in the Gaza Strip.Some 20 mosques and more than five hospitals were completely destroyed during the hostilities.The Israeli army lost 131 servicemen during the hostilities in Gaza, the Turkish agency Anadolu reported with reference to the military wing of Hamas movement. However, the Israeli authorities do not confirm this information./Trend/ Volume of online shopping escalating in Azerbaijan Business Fri, 01 Aug 2014 12:55:00 +0500 More than 36 million users have used the services of e-commerce portal since 2008, Azerbaijan's Economy and Industry Ministry reported.Electronic commerce is developing in Azerbaijan in line with ICT sector enlargement.The portal was established in Azerbaijan to support entrepreneurs' free exit to the market. It was set up by the Ministry with the support of the German Society for International Cooperation (GIZ).The report said more than 10,000 people used the portal's services in the first half of 2014.Not only citizens of Azerbaijan, but also foreigners use the portal. In the first half of year the portal was used by more than 1,800 users from Russia, the U.S., Ukraine, Turkey, China, Germany, Great Britain, India, Indonesia, Brazil, Italy, Kazakhstan, Estonia, Georgia, Denmark, Greece, Latvia, France, UAE and other countries."The volume of e-commerce market in Azerbaijan totaled 1.3 million manats in the first half of the year," the State Statistical Committee said.The total volume of the retail e-commerce has increased by 15.8 percent in the country compared to the same period in 2013.The participants of the e-commerce market are legal entities and individuals who are implementing electronic commerce and who are the buyers of goods and services.Some 78.7 percent out of the purchased electronic goods by the Azerbaijani population accounted for legal entities during the reported period and 21.3 percent - for individuals. Some 90.6 percent of the market turnover of e-commerce accounted for non-food products.Total retail sales in Azerbaijan amounted to 10.1 billion manats for the first half of 2014. The sales of consumer goods in the country grew by 8.9 percent, compared with the same period last year.Herewith, some 5.1 billion manats accounted for consumer goods (food, beverages and tobacco), and 5 billion manats for non-food products. The specific weight of non-food products increased by 3.5 percent during the period. Neymar reveals return date Sports Fri, 01 Aug 2014 12:40:00 +0500 Neymar has revealed that he will return to action in Barcelona's Joan Gamper Trophy pre-season clash against Leon on August 18.The Brazilian fractured his back during the World Cup quarter-final victory over Colombia and sat out the losses to Germany and Netherlands in the semi-final and third-place play-off.However, he is hoping to return to Barcelona for pre-season on August 5 before featuring in the annual Gamper game at Camp Nou."Im slowly recovering from the injury. I'll get to Barcelona 100 per cent," he told reporters at a promotional event in Brazil."I want to have a good season and I'm looking forward to helping my team-mates get good results. I also want to contribute to the Brazil team."I'm confident of playing in the Gamper game on August 18."Neymar has since arrived in Japan to continue his recovery and work on personal commerical requirements.The Brazil international signed autographs for dozens of fans after his arrival in Tokyo prior to the press conference where his latest commercial venture was confirmed.The former Santos forward is hoping to be fit in time for Barcelona's opening Liga game of the season against Elche on August 24./Goal.Com/ Turkish opera singer comes to perform in Baku Arts & Entertainment Fri, 01 Aug 2014 12:27:00 +0500 The Turkish well known opera singer Oya Ergun will perform at the Kapellhaus building of the German-Azerbaijan Cultural Association in Baku on August 2.Supported by the Turkish Embassy in Azerbaijan, the concert, “Evening of Baroque Arias”, will be accompanied by renowned organist, Jamila Javadova-Spitzberg who lives in America. /AzerTAc/ Muhammad Ali's legendary gloves sold for $400,000 Weird / Interesting Fri, 01 Aug 2014 12:14:00 +0500 he gloves that boxing great Muhammad Ali wore in his legendary 1971 fight against Joe Frazier in what became known as the Fight of the Century sold at auction on Thursday for almost $400,000.An anonymous bidder bought the gloves for $388,375 at the auction run by Texas-based Heritage Auctions at the National Sports Collectors Convention in Cleveland. Heritage previously auctioned a set of gloves Ali wore to claim his first World Championship in 1964 for $836,500.The Fight of the Century, in New York's Madison Square Garden, was the first of three fights between Ali and Frazier during the 1970s.In 1971, Frazier officially held the title of Heavyweight Champion of the World. Ali had been stripped of the title he had held since the 1964 bout against Sonny Liston because of his refusal to participate in the Vietnam War-era draft.The March 8 fight against Frazier was Ali's second after returning to the ring following a 3-1/2 year absence. Ali's conviction had just been overturned earlier in 1971 by the U.S. Supreme Court and his boxing license was reinstated."It was a controversial fight at a controversial time in America and the bout took on distinctly political and cultural overtones," Chris Ivy, director of sports auctions for Heritage, said in a statement.Frazier and Ali were each guaranteed $2.5 million, a record purse for the time."The fight sold out a month before the event with ringside seats commanding a record $150, with even Frank Sinatra unable to get his hands on one," Ivy said. Sinatra received a press credential and shot ringside photos for Life Magazine.Ali lost to Frazier but prevailed in a re-match at Madison Square Garden in 1974 and a third match-up known as "The Thrilla in Manilla" in 1975. 9 of the world's best city beaches Weird / Interesting Fri, 01 Aug 2014 12:02:00 +0500 Stressed colleagues, traffic jams, pollution.We're all familiar with the undesirable qualities of city life.So thank the gods of urban planning for the occasional sandy edge.There are some cities where worker drones can strip off the suit and tie, jump into shorts or a bikini and enjoy a day with their toes in the sand without having to leave the urban perimeter.By talking with our well-traveled friends and colleagues, collating data from tourism authorities and using our own experiences, we've put together a list of what we think make up 9 of the best city beaches in the world.No doubt you've got your own.We'd love to hear about them in the comments.1. Ipanema Beach (Rio De Janeiro)2. Bondi Beach (Sydney)3. Waikiki Beach (Honolulu)4. Brighton Beach (UK)5. Barceloneta Beach (Barcelona, Spain)6. Jumeirah Beach (Dubai, UAE)7. Miami Beach (Miami)8. Kitsilano Beach (Vancouver, British Columbia)9. Clifton Beaches (Cape Town, South Africa)/CNN/ President orders extra measures over construction of highway in Jalilabad District Politics Fri, 01 Aug 2014 11:50:00 +0500 President of Azerbaijan Ilham Aliyev has signed an Order on extra measures related to the construction of the Alar-Tezekend-Uctepe-Aligasimli-Ceferkhanli highway in Jalilabad District.Under the presidential order, AZN 7 million was allocated to the Jalilabad District Executive Authorities from the state budget of Azerbaijan for 2014.The highway links six residential areas with the total population of 23,000 people./AzerTAc/ AzerNews releases another print issue Society Fri, 01 Aug 2014 11:38:00 +0500 A new print edition of the AZERNEWS online newspaper was released on August 1.The new edition includes articles about significant reduction of the poverty level in Azerbaijan, country’s Oil Fund’s intention to buy Chinese Yuan, joint tournament in artistic, acrobatic gymnastics in Baku, the peculiarities of the wedding ceremony in Azerbaijan, as well as about the land of longevity-Lerik region and etc.AZERNEWS is an associate member of the World Association of Newspapers and News Publishers (WAN-IFRA).The online newspaper is available at Erdogan likens Israel to Adolf Hitler World news Fri, 01 Aug 2014 11:28:00 +0500 Israel's perpetration of genocide against the Palestinians being carried out in Gaza is reminiscent of the Holocaust as Israel is acting with the same immorality as Adolf Hitler, Turkey's PM and presidential candidate Recep Tayyip Erdogan has declared.Erdogan expressed his anger at a rally in the southeastern Turkish city of Van on Thursday, after the death toll from Israel's ongoing offensive in the Gaza Strip -- now in its fourth week -- reached 1,390 Palestinians, mostly civilians, according to the Palestinian Health Ministry in Gaza.Erdogan said: "The children of Gaza could not celebrate Eid and were killed in a cowardly fashion by the Israeli state in schools, homes, mosques and anywhere they took shelter."The outcries of innocent Palestinian children -- which resounded throughout the skies and made angels cry -- killed by Israel will not remain unanswered.""When Muslim children are being killed, the West deems it legal, but when we speak out against the terrorist state of Israel we are called anti-Semite. What kind of an injustice is that?" he asked.The number of Palestinians wounded in the onslaught has exceeded 8,000 by Thursday afternoon, Palestinian Health Ministry spokesman Ashraf al-Qodra told the Anadolu Agency."The dead victims included 315 children, 166 women and 58 elderly people," he said.Israel's military operation, dubbed operation "Protective Edge," is the Jewish state's third major offensive against the densely-populated Gaza Strip -- which is home to 1.8 million Palestinians -- within the last six years.In 2008-9, more than 1,500 Palestinians were killed in Israel's three-week long "Operation Cast Lead."/Trend/ July month of joy, stress, thrill for 60,000 in Azerbaijan Society Fri, 01 Aug 2014 11:15:00 +0500 By AzerNewsThe future of some 60,000 Azerbaijani students was decided in July as they sit for the entrance exam, graduating from secondary schools to universities.This year Azerbaijan's State Commission on Student Admission (SCSA) held the entrance exams for the first and fourth groups on July 12 and the second and third groups on July 20.Each year the SCSA holds entrance exams -- test examination -- for entrants who wish to study at Azerbaijan's prestigious universities and earn a bachelor's degree.The entrance exams are held in Azerbaijan's 11 cities, including Baku, Nakhchivan, Ganja, Sumgayit, Mingachevir, Sheki, Aghjabadi, Goychay, Shirvan, Lenkaran and Khachmaz. The exams start at 11 a.m. and last three hours.The entrant sitting for the exam familiarizes himself/herself with exam rules thanks to the guidebook prepared by the SCSA. The entrant should print the examination entrance card and take it with his/her identity card to the place where the exams are to be held.The entrants should remember that taking mobile phones, summaries and other supportive tools into the examination room is prohibited. Otherwise, they will be removed from the examination room and failed.After the completion of exams, the experts gather together and discuss various tests online on the Space TV. The entrants call and ask the experts various questions related with the exam and questions. The exam results are published on the SCSA website. The entrants can send a short message of their application numbers to 7727 to learn how many points they have scored.On July 12 some 28,955 pupils took the exam on the first and fourth groups, 17,703 of which were boys, and 11,252 were girls. On July 20, the SCSA held the entrance exam on the second and third groups for 31,326 pupils, some 13,824 of which were boys, and 17,502 were girls.The maximum point is 700. This year nine entrants gained these bright results.Azerbaijan ensures transparency of its universities' entrance exams by using IT and advanced monitoring measures.Azerbaijan was one of the first among the post-Soviet countries to reform the education system, after its independence in 1991.Back in 1992, as part of an educational reform, Azerbaijan introduced a general exam - test examination as entrance exam for universities. Later, the test exams were introduced at the master's level.State care to educationAzerbaijan is one of the few countries, which implements educational programs covering spending on education, as well as living abroad.To date 2,612 students were sent abroad within the state program on education of Azerbaijani youth abroad in 2007-2015. Graduates of this program successfully continue their activities in the private and public sectors.The number of Azerbaijani students studying abroad at state's expense will reach to three thousands in the 2014-2015 academic year. This year a group of students selected by the Education Commission will continue their education in the Great Britain, Turkey, Switzerland, Canada, Germany, Poland, France, USA, Italy, the Russian Federation and other foreign countries on Bachelor, Masters, Doctorate, and PhD degree.One of the main conditions for participation in the state program is high academic performance.Since 2008 as of July 1, Azerbaijan's state oil fund SOFAZ allocated around 93 million manats since 2008 as part of this state program.Desirable specialtiesEach year the SCSA prepares the top list of desired specialties for each group. Last year 'Oil and gas engineering' of the Baku Higher Oil School, 'Finance' of Azerbaijan State Economy University, 'Azerbaijani language and literature' of Baku State University, and 'Therapy' of Azerbaijan Medical University were on the top of this list.On average, male entrants prefer technical specialties, including mathematics, engineering, economy and management, while female entrants choose humanitarian ones, in particular teaching and translating.Azerbaijan's top universitiesAlso, each year the SCSA prepares the list of Azerbaijan's high-ranking universities.In 2013, the entrants who gained over 600 points entered Azerbaijan Medical University, Baku State University, Qafqaz University, The Academy of Public Administration under the President of Azerbaijan, Baku Higher Oil School, Azerbaijan University of Languages, Azerbaijan Diplomatic Academy, Information Technologies University, Azerbaijan State Economy University, as well as Azerbaijan State Oil Academy.This year's results will be announced in August. Wish all the entrants success and hope each of them will enter the desirable university and become a high-educated specialist! Neftchi draw with Chikhura UEFA Europa League 3rd qualifying round Sports Fri, 01 Aug 2014 11:03:00 +0500 Azerbaijani football club Neftchi Baku have been held to a goalless home draw by Georgian Chikhura in the first game of the 3rd qualifying round of the UEFA Europa League.The return match will take place in Georgia on August 7.Neftchi progressed to the 3rd qualifying round after defeating Slovenian Koper 3-2 on aggregate./AzerTAc/ Israel, Hamas nod to 72-hour-truce World news Fri, 01 Aug 2014 10:35:00 +0500 Israel and Hamas agreed in the early hours of Friday to a 72-hour humanitarian ceasefire in their bloody conflict in the Gaza Strip, U.S. Secretary of State John Kerry and UN Secretary-General Ban Ki- moon announced separately on Thursday. The ceasefire will begin at 8 a.m. local time (0500 GMT) on Friday, Aug. 1, they said in a joint statement, which also noted that "forces on the ground will remain in place" while the truce is effective. "We urge all parties to act with restraint until this humanitarian ceasefire begins, and to fully abide by their commitments during the ceasefire," said the two who have been quite engaged in facilitating a comprehensive truce deal, adding that "This ceasefire is critical to giving innocent civilians a much-needed reprieve from violence."/Trend/ Baku 2015 European Games and McDonald’s are partners now Sports Fri, 01 Aug 2014 10:20:00 +0500 Baku 2015 European Games Operation Committee is proud to announce McDonald’s as an Official Supporter of next year’s historic sporting event.The partnership will see co-branding within McDonald’s restaurants and marketing campaigns tailored to deliver messages about the inaugural European Games throughout Baku and the whole of Azerbaijan. In addition, McDonald’s will promote the European Games across Azerbaijan through in-store messaging, Games-related competitions, and a specially designed Baku 2015 European Games variety menu.Mr Simon Clegg, Chief Operating Officer at Baku 2015, said: “The McDonald’s brand is synonymous with major international sporting events around the world and I am delighted that we have signed them as an Official Supporter of the first ever European Games.“This agreement will further increase Baku 2015’s visibility across Azerbaijan and I am sure it will generate greater interest in what will be an historic and memorable celebration of sport in Baku next summer.”  The in-store marketing campaigns in all of the McDonald’s restaurants in Azerbaijan will reach out to approximately 750,000 customers per month.Mr Maqsud Mirzayev, Managing Director of McDonald’s Azerbaijan, said: “It is a real honour for McDonald’s to be supporting such an important event for Azerbaijan.“We will ensure that we put all our efforts and experience into producing imaginative marketing strategies which will make the Games even more unforgettable and popular among customers visiting our stores.” Mr Charlie Wijeratna, Commercial Director at Baku 2015, added: “Given the strong reputation which McDonald’s has it is fantastic to be able to rely on their support, which adds further credibility to our Baku 2015 brand.”McDonald’s has been a TOP Olympic sponsor of every Olympic and Olympic Winter Games since 1976, and extended its sponsorship in 2012 for a further eight years. It also has experience and proven capability of sponsoring other major international sporting events such as the FIFA World Cup. Poverty continuously going down in Azerbaijan Society Fri, 01 Aug 2014 10:07:00 +0500 By AzerNewsIn an ideal world the figure of poverty rate would stand at zero. However, the figure in Azerbaijan has substantially decreased over the last decade. Official statistics show that today 5.6 percent of 9.5-million Azerbaijanis or some 500,000 people live in poverty. This is down from four million people who live in poverty in 2004.The World Bank has a specific methodology to determine the poverty level. According to the methodology, if a person's daily income is less than two dollars --1.56 manats -- he/she is ranked as poor."Azerbaijan uses the criterion of financial need to define the poverty level, and the people, who earn less than required are considered poor and those who earn more, respectively, don't belong to this group," Vugar Bayramov, the Chairman of the Center for Economic and Social Development told local press.Meanwhile, according to the UN report on human development for 2014, some 2.2 billion people live in or below the poverty level worldwide.Azerbaijan has been the fastest growing economy in the world in the last ten years and the socio-economic reforms have led to prosperity, less unemployment and reduction of poverty. One of the biggest achievements of the government is that the rapid economic growth has been supported by strong social policy.Azerbaijan sees an uprising trend in its GDP growth. This paves the way for a steady and rapid development of the country's population, which in turn affects the GDP per capita. Azerbaijan increased its per capita GDP to $7,812 (against $7,394) in the current US dollar value in 2013, according to the World Bank's database.Over the past 10 years, Azerbaijan has gained undeniable achievements in drastically reducing poverty. The settlement of the problem of "absolute poverty" in Azerbaijan, i.e. the sharp decline in the number of families included in the category of the poor within the framework of accepted criterion is a result of government's successful socio-economic policy.The development concept "Azerbaijan - 2020: the Vision of the Future" notes the level of poverty declined from 49 percent in 2000 to 7.6 percent in 2011 as a result of a successful social policy. Meanwhile, salaries and pensions have increased several times ever since.Today the government continues taking important measures to reduce the poverty rate to a minimum level.Earlier, Azerbaijani President Ilham Aliyev signed the laws on the criterion of need and subsistence level.According to these criteria, the least amount is set at 100 manats per month, while the average subsistence level is determined at 125 manats, for working-age population at 136 manats, for pensioners at 103 manats, and for children at 103 manats per month in 2014.The daily consumer basket of the Azerbaijani population includes no less than 100 grams of cooked meat, vegetables, cereals and bread.Nariman Agayev, the Chairman of the Sustainable Development Research Center, believes there are no starving people in Azerbaijan."A working-age man in Azerbaijan can earn up to 15 manats per day. Today every citizen of our country needs at least 5 manats per day for a normal diet at home. If he prefers to eat in catering, he will need minimum 8 manats. The majority of our population earns this amount of money," he noted.The experiences of various countries show that countries with a stronger middle class are more sustainable from political, economic, social and other aspects and have higher development potential. Due to this, solving the poverty problem will remain the main part of Azerbaijan's social policy.The "Azerbaijan - 2020: the Vision of the Future" concept notes that the social allowances will be unified and measures to increase their amount will continue to be implemented in the country.Azerbaijan plans to improve the system of allowances given to families with children. Also, the country is keen to renew the rules of identifying families' need for social aid in order to establish a modern social security system and to reduce poverty. The level of the needs criterion is expected to constantly increase to bring it in line with minimum living standards.Azerbaijan is also set to increase the effectiveness of social aid through the use of modern social technologies, and to apply active social aid programs (self-support, preferential social crediting) along with the existing targeted state social aid system. Easier to prevent Nagorno-Karabakh conflict than to calm Analytics Fri, 01 Aug 2014 09:55:00 +0500 By Aynur Gasimova - Trend:Everyone in the world today faces news about the horrors in different parts of the globe. The world map has hot spots where people are killed every day.The literally burning Middle East, affected by the "Arab Spring" has recently experienced revolution and civil war and is a flash point of major news again in Gaza. This bloody confrontation has been observed for almost a month. It has resulted in more than 1,350 Palestinians and 56 Israelis killed so far. Nothing indicates the bloodshed will stop soon. Nor do hostilities stop in neighboring Syria and Libya and none of it inspires faith in the rapid stabilization of the situation in the region.A real civil war is being waged in the post-Soviet region too. The deep crisis in Ukraine, which has claimed hundreds of human lives, including Malaysian Airlines passenger plane shaken down in eastern Ukraine on July 17, killing 298 people, has continued more than six months.Even though the UN Security Council passed a resolution that called for bringing to justice those responsible for the plane crash and to cease hostilities in the crash area for the international experts to easily reach the crash site, the hostilities still continue.The world powers must pay attention not only to the current civil wars amid but simmering conflicts each of which can start again.Azerbaijan is such a country, where 20 percent of its territory is under Armenian occupation. If one views the chronicle from the contact line of the Armenian-Azerbaijani troops, the current status quo may soon be changed, and another heated conflict reignited in the region, which at this point can still be prevented. Murders of civilians on the frontline, Armenia's constant ceasefire violations, provocations, and attempts to discredit Azerbaijan continue. The Armenia side's attempt to present peaceful Azerbaijanis detained in Kalbajar region as "saboteurs" can be cited as an example.Armenian media reported that during the operation held on July 11 in the Shaplar village of the occupied Kalbajar region, one Azerbaijani citizen was killed and two other were taken hostage. They also reported the launching of criminal cases against the detained Azerbaijanis.Azerbaijan's Defense Ministry dismissed the Armenian media reports on any affiliation of the mentioned persons to the country's armed forces. The ministry stated that the occupied lands are the territories of sovereign Azerbaijan and a ban cannot be imposed on free movement of Azerbaijanis in these territories.These individuals did not violate the state border because the lands controlled by the illegal "fictitious" regime, are Azerbaijani territories recognized by the UN, the ministry said.Instead of trying to draw the attention of the international community to the processes on the contact line of the armies, Armenia would better be engaged in addressing its internal problems.The poor economic condition in Armenia, serious demographic problems, mass emigration from the country, continuous discord in the leadership are the problems that Armenia should address instead of attempting to divert the attention of the international community to the unacceptable status quo in the Nagorno-Karabakh conflict.As distinct from Armenia, modern-day Azerbaijan is a country with a prosperous economy, a country which nobody wants to leave and where every citizens feel safe. Instead of pursuing a destructive policy, Armenia long ago should have returned Azerbaijan's occupied territories and made efforts to get out of its fragile economic crisis. Refusing to do so meets the interests of a handful of Armenian oligarchs, not those of the people.Unfortunately, Armenia continues to pursue its unconstructive policy and show its interest in maintaining the status quo in the Nagorno-Karabakh conflict and thus ignores the resolutions of the UN Security Council and international law.The international institutions need to realize that it would be as easy to prevent conflict than it is try to resolve the escalation of an already arisen confrontation. They should take into account that it is necessary to take measures to maintain peace in the region, while Azerbaijan's patience is not exhausted.The regions with 'frozen conflicts' and the international institutions should take into account that if a regional conflict is not resolved in a timely fashion, it can turn into a global-scale conflict that will claim many lives and undermine the stability in the region for a long time.Aynur Gasimova is Trend English News Service HeadClaude Salhani -a political analyst and senior editor with Trend Agency contributed to this article. Vice-speaker: Leyla Yunus's anti-Azerbaijan position always obvious Politics Fri, 01 Aug 2014 09:40:00 +0500 A preventive measure in the form of arrest for three months against Leyla Yunusova must be seen as a procedure that meets the requirements of the Criminal Procedure Code. This is necessary for investigation, Azerbaijani Deputy Speaker Bahar Muradova told Trend on July 31.Leyla Yunusova's position directed against the national interests of Azerbaijan, has always been evident," she added. "Everybody knows about this in Azerbaijan.""Those who engage in suspicious activity directed against the national interests of Azerbaijan must be held accountable before the law," she said. "Therefore, I normally treat the arrest of Leyla Yunusova."Muradova added that those who want to make a sensation out of this try to use this issue for their own political interests."I understand the concern of heads of political parties, mistakenly defending Leyla Yunusova and some individuals who were with her in one team once," she said. "Apparently, they believe that the investigation can affect them. Their concern is connected with this."Leyla Yunusova was accused under articles 274, 178.3.2, 192.2.2, 213.2.2, 320.1 and 320.2, Arif Yunusov - under Articles 274 and 178.3.2 of the Criminal Code, according to the report.Taking into account the fact that Leyla Yunusova tried to leave the country, not to testify without a valid reason and illegally pressured Matanat Azizova and others questioned as witnesses in the case, a preventive measure in the form of arrest was chosen for Leyla Yunusova upon a decision of the Nasimi district court. Taking into account Arif Yunusov's health, a preventive measure in the form of law enforcement surveillance was chosen for him.In a joint statement of the Prosecutor General's Office and the Ministry of National Security, defendants Leyla Yunusova and Arif Yunusov's rights for legal aid, lawyer's services, envisaged by the criminal procedural legislation were ensured.A criminal procedure law was not violated during the investigation, the report underlines.The investigation is underway. All actions of Leyla Yunusova and Arif Yunusov will be legally assessed. The public will be informed about the results of the investigation. European Golf Challenge Tour starts off in Azerbaijan - PHOTOS Sports Fri, 01 Aug 2014 09:25:00 +0500 Azerbaijan Golf Challenge Open has started in Guba, Azerbaijan, marking the first time when the European Challenge Tour travels to the country.President of Azerbaijan Golf Federation, Anar Mammadov, who opened the tournament by making the first strike on the ball, told the opening ceremony that Challenge Tour was held in 42 countries annually. He said that henceforth the tournament would also be organized in Azerbaijan every year.The world`s most talented young golfers, 156 from 72 countries, will compete in the four-day 18-hole tournament, which takes place at National Azerbaijan Golf Club. Built as the headquarters for the Azerbaijan Golf Federation, the 7,011 yard layout takes advantage of the rugged, natural terrain, and boasts breath-taking views of the nearby hills and mountains due to numerous natural changes in elevation.The decision to host this week’s tournament in Azerbaijan forms part of the country’s strategy to stage and promote international sporting events.Next year Baku will stage the inaugural European Games, which will be the largest multi-sport event ever held in Azerbaijan, and the following year the country will also join the Formula One Grand Prix circuit for the first time. /AzerTAc/ Azerbaijan’s oil funds turning into Chinese Yuan Business Thu, 31 Jul 2014 18:10:00 +0500 By AzerNewsAzerbaijan's state oil fund SOFAZ which is in charge of accumulating and managing the country's oil and gas revenues have taken some measures to include Yuan in its currency portfolio.SOFAZ Deputy Executive Director Israfil Mammadov said the fund has appealed to the People's Bank of China to obtain quotes on indirect investment in the Chinese yuan onshore market with a view to diversify its investment portfolio.The fund, established in 1999 aimed at transforming rising hydrocarbon reserves into financial assets, started investing in new asset classes such as equities, real estate, and gold, as well as diversifying its currency portfolio toward the Turkish lira, Russian ruble, and Australian dollar, from 2012."We intend to invest gradually, initially through the Chinese government securities. We will consider other investment tools available on the Chinese financial markets with the growth of our experiences," Mammadov told local media.Mammadov further said the decision was made ??after a careful analysis of the fund's portfolio with a view to use the opportunities available in the Chinese markets."SOFAZ is in talks with the Chinese authorities. The approved quota will be announced after the two institutions sign an agreement, " he said.Currently, the currency structure of the SOFAZ investment portfolio is as follows: 51.7 percent of its total investment portfolio was concentrated in U.S. dollars (around $19.4 billion), 35.4 percent of its investment portfolio in euro (9.74 billion euro), 5.3 percent in British pounds (1.17 billion pounds), 1.2 percent in Turkish lira, 0.5 percent in Australian dollars, 1.3 percent in Russian rubles, and 1.2 percent in Korean Won.The remaining part of the portfolio (3.4 percent, or about $1.3 million) is concentrated in gold, which the fund began to purchase since the first quarter of 2012. The amount of the purchased gold stood at 30 tons 175 kg (970,146 ounces) as of July 1.According to SOFAZ's investment strategy, up to five percent of its investment portfolio may be placed in stocks, up to five percent in real estate and five percent in gold.The assets of SOFAZ, that hit $37.622 billion as of July 1 , 2014, are placed partly in securities, money market instruments (deposits, bank accounts).The map of the fund's assets is as follow: 55.18 percent of assets was invested in the European countries, 19.56 percent in North America, 12.33 percent in the Asia-Pacific region, 1.05 percent in the Middle East, 5.03 percent in South America, 6.84 percent in international financial institutions, and 0.01 percent in Africa.SOFAZ earlier announced that it analyzed opportunities for investment in East and Southeast Asia, conducted the necessary evaluations of investment prospects in the respective countries, and targeted the Asian market as the most promising destination for real estate investment.The main goals of SOFAZ include accumulation of resources and placement of the Fund's assets abroad in order to minimize the negative affects on economy, the prevention of 'Dutch disease' to some extent, promotion of resource accumulation for future generations and support of current social and economic processes in Azerbaijan. Over 6,000 Turkish citizens to living in Azerbaijan to join Turkish presidential election World news Thu, 31 Jul 2014 17:55:00 +0500 The citizens of Turkey, living and temporarily residing in Azerbaijan, will be able to vote in the Turkish presidential election on August 3 at the country's embassy.The voting will last from 08:00 to 17:00 local time (GMT+5) on August 3, Turkish embassy in Azerbaijan told Trend on July 31.Only Turkish citizens who have been registered online on the website of the Central Election Commission (CEC) until July 9 will be able to vote in Turkey's presidential election, the embassy said.Some 6,305.out of 15,536 Turkish citizens living in Azerbaijan will be able to take part in the presidential election, according to the Turkish embassy.Around 5,611 of them will vote in Baku, 291 - in Nakhchivan and 403 - in Ganja.In the case of holding the second round of the presidential election, the voting in Azerbaijan will take place on August 17Besides Azerbaijan, the voting on August 3 will also take place in Albania, Bahrain, Bosnia and Herzegovina, Czech Republic, Finland, Georgia, Iran, Ireland, Spain, Kuwait, Egypt, Uzbekistan, Poland, Sudan, Tunisia, Ukraine, Oman, Jordan and New Zealand.The voting in the Turkish presidential election for the country's citizens living abroad started on July 31. Turkish citizens, living in Russia, Canada, Australia, Germany, U.S., Belgium, the Netherlands, France, Israel, Italy, Lebanon, Romania, Saudi Arabia and Turkmenistan, will be able to vote in the presidential election on July 31.A total of 2,790,408 Turkish citizens living in some 53 countries have the right to take part in the voting for the presidential election.The presidential election in Turkey has been scheduled for August 10, 2014. If none of the candidates gains 51 percent of votes in the first round, the second round will take place on August 24.As distinct from the previous presidential election, the Turkish president will be elected by the people, not by the parliament as of 2014, according to the results of a referendum held in 2007.The Turkish president will be elected for five-year term instead of the previous seven-year term, according to the referendum results.Turkey's ruling Justice and Development Party nominated Prime Minister, Recep Tayyip Erdogan's candidacy for the presidential election.Turkish oppositional Republican People's Party (CHP) nominated the former Secretary-General of the OIC Ihsanoglu as a candidate for the presidential elections on June 16./Trend/ Current oil prices in world markets Business Thu, 31 Jul 2014 17:40:00 +0500 Oil prices have fallen in the world markets, with the US Light crude sinking to $100.27 a barrel and British Brent crude hitting $106.51.The Department of Marketing and Economic Operations of the State Oil Company of Azerbaijan (SOCAR) informed that, a barrel of Azeri Light crude oil decreased $0.38 to stand at $108.47./AzerTAc/ Running long term reduces risk of premature death Weird / Interesting Thu, 31 Jul 2014 17:25:00 +0500 Love to chase after the kids? Or just feeling a burst of energy to take a quick run? Having those running moments daily can reduce the risk of premature death, and extend life up to three years. A cardiovascular study recently closed after reviewing a panel of 55,137 adults, aged between 18 and 100 years old. The study reports the average age was 44-years-old. Over the course of 15-years, researchers stated 1,217 cardiovascular deaths were reported, another 3,413 all cause deaths were also noted. Of the participants, researchers said 24 percent of them ran daily.Comparing those numbers against the non-running participants, researchers reported up to a 45 percent decrease of risk in runners having cardiovascular issues, resulting in death or dying prematurely due to all-cause reasons.Researchers state the runners were not marathon professionals, rather some calculated 51 minutes or less of running weekly. That would amount to just slightly over seven minutes of running, seven days a week.Based on the findings, the experts reported that even running five to 10 minutes daily can reduce the risk of premature death from all causes, and cardiovascular diseases. The study published in the Journal of the American College of Cardiology, is to motivate individuals to start moving, and maintain a healthy lifestyle.The study shows a lower requirement than recommended by the World Health Organization (WHO), showing any movement is a positive one in the way of health.For participants who engaged in a pattern of running for over five years, they showed the greatest marks of health, experiencing up to a 50 percent decrease from strokes or heart attacks, leading to death.Running is a vigorous activity, stated lead researcher Duck-chul Lee PhD, and may come with injury, but he encourages movement in itself is the greatest benefit for health. He encourages individuals to involve more than just a forced run. Rather, enjoy the run for fun or even socializing./AzerTAc/