http://www.today.az Covering Azerbaijan inside and outside http://www.today.az/images/logo_small.gif http://www.today.az http://www.today.az/news/society/247628.html Society Sat, 27 Apr 2024 16:00:00 +0400 By Ulviyya ShahinThe Trans Adriatic Pipeline (TAP) has emerged as a pivotal infrastructure project, linking the energy-rich Caspian Sea region to key markets in Europe. Since its inception, TAP has been instrumental in establishing a direct route for natural gas from the Southern Gas Corridor to Italy, Central Europe, and the Balkans. This strategic connection was emphasized by Marija Savova, Commercial Director of TAP AG, during her address at the Flame 2024 Conference in Amsterdam, as reported by Azernews.Savova highlighted TAP's significant contributions since the commencement of its operations at the end of 2020. Notably, the gas transported through TAP accounted for a substantial portion of total gas imports in Italy and Greece in 2023, demonstrating the pipeline's crucial role in meeting energy demand in these markets.Looking ahead, Savova emphasized the potential for TAP's expansion to double its capacity in stages. This expansion plan is envisioned to address challenges related to the security of gas supply while also aligning with the European Union's ambitious decarbonization targets. By facilitating the transportation of hydrogen and other renewable gases from countries along the Southern Gas Corridor to Europe, TAP could further contribute to the continent's transition towards cleaner energy sources.Azerbaijan's entry into the European gas market on December 31, 2020, marked a significant milestone in the region's energy landscape. Under the agreement between Azerbaijan and the EU, Azerbaijani gas exports are expected to reach a minimum of 20 billion cubic meters annually by 2027.In line with these developments, the first stage of expansion for TAP is scheduled for completion by the end of 2025. This expansion will enable TAP to accept an additional 1.2 billion cubic meters of Azerbaijani gas, further enhancing energy flows to key destinations. Italy and Albania are poised to benefit significantly from this expanded capacity, with Italy set to receive 1 billion cubic meters and Albania receiving another 200 million cubic meters of Azerbaijani gas starting from 2026.The ongoing expansion and operations of TAP underscore its crucial role in shaping Europe's energy landscape, fostering regional cooperation, and driving sustainable energy transitions in line with global climate objectives.Azerbaijan plays a pivotal role in the Trans Adriatic Pipeline (TAP) project, contributing significantly to its success and providing various benefits to both Azerbaijan and the wider region:Energy Export Diversification: Azerbaijan's participation in the TAP project enables the country to diversify its energy export routes and markets. By connecting Azerbaijani gas fields to European consumers via TAP, Azerbaijan reduces its dependence on traditional export routes and expands its reach into lucrative European markets.Economic Benefits: The TAP project generates substantial economic benefits for Azerbaijan. It creates employment opportunities during the construction phase and generates revenue through transit fees and gas sales. Additionally, increased gas exports contribute to Azerbaijan's GDP growth and overall economic development.Strategic Importance: TAP enhances Azerbaijan's strategic importance as a reliable energy supplier in the European market. By providing a direct and secure route for Azerbaijani gas to reach Europe, TAP strengthens Azerbaijan's position as a key player in the global energy landscape and enhances its geopolitical influence.Infrastructure Development: Participation in the TAP project necessitates the development of essential energy infrastructure within Azerbaijan. This includes the construction and expansion of gas extraction, processing, and transportation facilities, which not only support the TAP project but also contribute to the overall modernization of Azerbaijan's energy infrastructure.International Cooperation: The TAP project fosters international cooperation and partnerships between Azerbaijan and European countries involved in the project. Collaborating on such a large-scale energy infrastructure project strengthens diplomatic ties, promotes regional stability, and enhances Azerbaijan's reputation as a reliable partner in the international energy market.Contribution to Energy Security: By diversifying Europe's energy supply sources, TAP enhances energy security for both Azerbaijan and European countries. Azerbaijan's participation in TAP helps to stabilize energy markets, reduce supply vulnerabilities, and mitigate geopolitical risks associated with reliance on a single energy supplier or transit route.Azerbaijan's involvement in the TAP project brings significant economic, strategic, and diplomatic benefits. It positions Azerbaijan as a key player in the European energy market, strengthens its ties with European partners, and contributes to regional stability and prosperity. http://www.today.az/news/society/247627.html Society Sat, 27 Apr 2024 15:41:00 +0400 COP29 will play a significant role in adjusting Azerbaijan's agricultural and environmental policies to international best practices, technology interchange, and innovation, Azerbaijan's Deputy Agriculture Minister Sarvan Jafarov said, Azernews reports.He made the remark during the meeting titled "Demonstration of New Soil and Resource Protection Technologies Adapted to Climate Change.""COP 29 will help Azerbaijan adapt its agricultural and environmental policies to international best practices, technical exchange, and innovation. In this direction, the application of novel ideas and instruments will contribute to the sustainability of agriculture, the provision of ecologically friendly food, the well-being of rural communities, as well as environmental protection," he said.To note, a Republican meeting is being held in Yevlakh on April 27 titled "Demonstration of New Soil and Resource Protection Technologies Adapted to Climate Change."The main objective of the event is the wide application of moisture-protective technologies and innovative innovations adapting to climate change in the country, environmental protection, and the improvement of knowledge and skills of farmers working in regions suffering from drought in terms of reducing the negative impact of global warming on agriculture, as well as the as well as the exchange of experience gained in this field by large farms and agro-parks. http://www.today.az/news/society/247634.html Society Sat, 27 Apr 2024 15:38:00 +0400 A group of people have been awarded the Taraggi Medal for their contribution to the economic development of Azerbaijan and fruitful activities in the field of entrepreneurship, Azernews reports.President the Republic of Azerbaijan Ilham Aliyev signed a corresponding decree. http://www.today.az/news/society/247633.html Society Sat, 27 Apr 2024 15:21:00 +0400 The ministers of economy and finance have been given powers to represent Azerbaijan in the Turkic Investment Fund, Azernews reports.President the Republic of Azerbaijan Ilham Aliyev signed a corresponding decree.According to the decree, the Minister of Economy of Azerbaijan is appointed as the head of Azerbaijan in the Council of Leaders of the Turkic Investment Fund, and the Minister of Finance of Azerbaijan - as an alternative head, and they are given the authority to represent the Azerbaijan in this fund. http://www.today.az/news/society/247632.html Society Sat, 27 Apr 2024 15:11:00 +0400 President of the Republic of Azerbaijan Ilham Aliyev has signed a decree on approving the “Amended and newly drawn up Investment Agreement” between the government of Azerbaijan and the ACWA Power Azerbaijan Renewable Energy limited liability company (LLC), Azernews reports.According to the decree, the “Amended and newly drawn up Investment Agreement” between the government of and the ACWA Power Azerbaijan Renewable Energy (LLC), signed on February 29, 2024, was approved. http://www.today.az/news/society/247626.html Society Sat, 27 Apr 2024 15:08:00 +0400 By Ulviyya ShahinThe head of the European Commission Ursula von der Leyen has been invited to COP29, Vagif Sadigov, the ambassador of Azerbaijan in Belgium and Luxembourg, head of the Mission to the European Union, wrote in his account on the X social network, Azernews reports.“Many thanks to Mr. Fernando Andresen-Guimaraes, Diplomatic adviser of the President of the European Commission, for a substantial exchange of views today on present and future of EU-Azerbaijan relations. It has also been a good occasion to transmit the invitation letter of President of Azerbaijan Ilham Aliyev to President of the European Commission Ursula von der Leyen for COP29 in November in Baku,” the ambassador said. http://www.today.az/news/society/247625.html Society Sat, 27 Apr 2024 14:45:00 +0400 A republican meeting on the display of novel soil and resource preservation methods adapted to climate change is taking place in Yevlakh, Azerbaijan, Azernews reports.The event is organized jointly by the Ministry of Agriculture of Azerbaijan and Azersheker LLC in partnership with GILAN PIVOT LLC.The main purpose of the event is a wide application of moisture-protecting technologies and innovative innovations adapting to climate change in the country, environmental protection, and the improvement of knowledge and skills of farmers working in regions suffering from drought in terms of reducing the negative impact of global warming on agriculture, as well as the as well as the exchange of experience gained in this field by large farms and agro-parks.To note, innovative technologies, methods, modern irrigation systems, organic fertilizers, and biopreparations used in agriculture will also be demonstrated, and questions of interest to the participants of the meeting will be answered.Additionally, the meeting sets forth the participation of executives from specialist government agencies, major farms and agro-parks, representatives from supplier firms, and farmers. http://www.today.az/news/society/247624.html Society Sat, 27 Apr 2024 14:13:00 +0400 Command and staff exercises took place in the Azerbaijani army, Azernews reports, citing the Azerbaijan's Ministry of Defense.The exercises took place in accordance with the training plan for 2024 approved by the Minister of Defense, Colonel General Zakir Hasanov.During the exercises, actions to perform various tasks were clarified on the map, and reports from commanders were heard on decisions made based on the current tactical situation. http://www.today.az/news/society/247623.html Society Sat, 27 Apr 2024 13:54:00 +0400 Kyrgyzstan and Azerbaijan intend to increase trade turnover by up to $500 million by 2030, Head of the Ministry of Economy and Commerce of Kyrgyzstan Daniyar Amangeldiyev said, Azernews reports.He made the remark during the second meeting of the Interstate Council between Kyrgyzstan and Azerbaijan."We intend to maintain a trade turnover of approximately $500 million between our countries by 2030. We are prepared to supply the Azerbaijani market with quality agricultural products (potatoes, beans, nuts), pasta products, glass manufacture, electric lamps, and other items," Amangeldiyev said.The Minister noted that rapidly developing bilateral relations have created the best opportunities for building and expanding trade and economic ties between Kyrgyzstan and Azerbaijan.Amangeldiyev mentioned that to ensure active work on a medium-term basis, a comprehensive program of cooperation between the countries until 2029 has been prepared, which includes all promising areas: increasing trade turnover, development of transport communications, financial and banking, cultural, humanitarian, and other spheres.To note, according to the State Customs Committee of Azerbaijan, the trade turnover between Azerbaijan and Kyrgyzstan in 2023 amounted to $64.9 million, which is 6.01 times higher than in 2022 ($10.8 million). http://www.today.az/news/society/247622.html Society Sat, 27 Apr 2024 13:16:00 +0400 By Ulviyya ShahinAs part of a significant diplomatic visit, senior parliamentarians from Turkic States embarked on a tour of Azerbaijan, focusing their attention on the historic city of Shusha, Azernews reports.The delegation's exploration of Shusha's rich cultural and historical heritage.The visiting dignitaries were given an immersive experience, learning about Shusha's historical significance and the unfortunate vandalism it endured during the three decades of occupation by Armenians. They were briefed on the ongoing efforts by the Azerbaijani government to restore the city's landmarks and cultural sites to their former glory.Throughout their journey, the parliamentarians had the opportunity to visit key historical sites, including monuments dedicated to prominent Azerbaijani figures such as Khurshidbanu Natavan, Bulbul, and Uzeyir Hajibayli, located in Shusha's Central Square. They also explored the House of Khurshidbanu Natavan, the Khan Gizi spring, and the walls of the Shusha Fortress, all of which suffered damage during the occupation but are now undergoing restoration efforts to reclaim their historical significance.A notable highlight of the tour was the visit to the Yukhari Govhar Agha Mosque, a symbol of Shusha's religious and cultural heritage. Additionally, the delegation had the opportunity to experience the natural beauty of the Jidir Duzu Plain, further enriching their understanding of Shusha's cultural and geographical significance.Overall, the tour provided the visiting parliamentarians with a comprehensive insight into Shusha's history, culture, and ongoing restoration efforts. It served as a testament to the enduring resilience of the Azerbaijani people and their commitment to preserving and celebrating their cultural heritage. http://www.today.az/news/sports/247621.html Sports Sat, 27 Apr 2024 12:51:00 +0400 By Ulviyya ShahinFIFA President Gianni Infantino congratulated Azerbaijani professional football club Qarabag FC over victory in the Azerbaijan Premier League in a letter to AFFA President Rovshan Najaf, Azernews reports.He stressed in the letter that the victory became possible owing to the consistent efforts of the team.Infantino also thanked Najaf and AFFA for continuous support, work and dedication to the development of football in Azerbaijan. http://www.today.az/news/society/247620.html Society Sat, 27 Apr 2024 12:03:00 +0400 The working group for clearing mines and unexploded ordnance, operating under the Interdepartmental Center of the Coordination Headquarters, created in connection with the centralized resolution of issues in Azerbaijan's liberated territories has visited Aghdam, Azernews reports, citing ANAMA.The trip involved representatives of ANAMA and relevant government agencies represented in the working group.Members of the working group got acquainted with the activities of mine clearance groups in the Aghdam district, observed the progress of ongoing projects, including the process of neutralizing discovered mines and unexploded ordnance.As part of the visit, a regular meeting of the working group was held in the Aghdam district. http://www.today.az/news/society/247619.html Society Sat, 27 Apr 2024 11:44:00 +0400 The official visit of the Azerbaijani parliamentary delegation headed by Chairman of Azerbaijani Parliament Sahiba Gafarova to Montenegro continues, Azernews reports.Within the framework of the visit, the Azerbaijani delegation visited the monument of the of the Partisan Warrior in nation's Podgorica. A wreath was laid on the monument on behalf of the Chairman of the Azerbaijani Parliament.This monument, which was erected in 1957, holds the remains of 68 fallen Partisan fighters and is dedicated to the thousands who died at the hands of fascist occupiers during WWII. http://www.today.az/news/society/247618.html Society Sat, 27 Apr 2024 11:21:00 +0400 The price of Azerbaijani Azeri Light crude oil based on CIF in the Italian port of Augusta on April 27 climbed by $1,78, standing at $90.68 per barrel, compared to the previous indicator, Azernews reports, citing the source from the country's oil and gas market.The price of Azeri LT FOB Ceyhan amounted to 89,03.The price of URALS equaled $72.66 per barrel, which is more than the previous price.Overall, the price of a barrel of Dated Brent oil produced in the North Sea increased on April 26, compared to the previous indication, to $89.94.The official rate is 1.7 AZN/1 USD on April 2. http://www.today.az/news/society/247617.html Society Sat, 27 Apr 2024 11:02:00 +0400 On April 26, seven automatic weapons of different brands, one machine gun, one pistol, ten grenades, three TNT, 70 cartridge combs, 2,210 cartridges of different sizes and other ammunition were found and confiscated in the territory of Khankandi, Azernews reports, citing the press service of the Ministry of Internal Affairs (MIA).In addition, police officers took over one grenade, three rifles, 150 cartridges of various calibers and one lighter in the capital and in separate districts of the Azerbaijan. Also, three illegally stored rifles were found and confiscated.Recall that arms and munitions have been found in undisclosed locations, including the basements of schools, nurseries, and assorted structures, in the liberated regions of Azerbaijan's Garabagh.Once more, the presence of weaponry linked to Armenian separatists has been affirmed, indicating illicit efforts by Armenians to engage in terrorist activities and provocations within Azerbaijani territories.It is worth noting that on September 19, 2023, the Azerbaijani Army conducted swift anti-terrorist operations resulting in the disarmament of Armenian separatists in Garabagh. Subsequently, leaders of separatist factions were apprehended and brought to Baku, where they were lawfully detained. http://www.today.az/news/society/247616.html Society Sat, 27 Apr 2024 10:43:00 +0400 “No myths should be created about countries rich in oil and gas. These countries have made substantial efforts to address climate issues. Currently, the UAE, Azerbaijan, and Brazil are working together as a troika,” President Ilham Aliyev said at a joint press conference with German Chancellor Olaf Scholz in Berlin on April 26.The head of state emphasized that these countries are taking steps to channel revenue towards green energy, stating, "COP29 will not be an arena of confrontation. As the host, Azerbaijan will build bridges. Azerbaijan aims to act as a bridge between the West and the Global South, particularly in the context of green energy transition and climate change."It should be noted that Ilham Aliyev, President of the Republic of Azerbaijan, had a working visit to Germany from the city of Fuzuli on April 25 at the invitation of the Olaf Scholz, Federal Chancellor of the Federal Republic of Germany, to participate in the High Level Segment of the 15th Petersberg Climate Dialogue.During his visit President Ilham Aliyev had meetings with German President Frank-Walter Steinmeier, German Chancellor Olaf Scholtz, Germany's Foreign Minister Annalena Baerbock and many other officials. Besides, the Azerbaijani President attended the High Level Segment of the 15th Petersberg Climate Dialogue in Berlin, Germany. http://www.today.az/news/society/247615.html Society Sat, 27 Apr 2024 10:19:00 +0400 Some interesting moments were observed at the welcoming ceremony of President of the Republic of Azerbaijan Ilham Aliyev in Berlin. When President Ilham Aliyev arrived at to the German Chancellor's office, Azerbaijanis living in this country started chanting the slogan “Long live the Supreme Commander-in-Chief!”The state flag of Azerbaijan was waved during the welcome. The Azerbaijani community held a rally in front of the Brandenburg Gate in Berlin in support of Azerbaijan and the President of the Republic of Azerbaijan. Participants in the action, which was accompanied by an overture from the opera “Koroglu”, emphasized that the President of Azerbaijan made consistent efforts to achieve peace with Armenia and any pressure attempts on our country were unacceptable.President Ilham Aliyev participated in the High Level Segment of the 15th Petersberg Climate Dialogue at the invitation of Olaf Scholz, Chancellor of the Federal Republic of Germany. http://www.today.az/news/sports/247614.html Sports Sat, 27 Apr 2024 10:00:00 +0400 Registration for "Baku Marathon 2024", which will be held on May 5 at the initiative of the Heydar Aliyev Foundation, has ended.More than 15,000 participants have registered for the 7th Baku Marathon.More than 200 guests of honor and more than 6 thousand students are expected to participate in the marathon.In addition to citizens of Azerbaijan, there are foreigners living and working in the country, as well as those from other countries. Thus, the list of those registered includes citizens of Germany, China, France, Georgia, India, Iraq, Iran, Italy, Canada, Kazakhstan, Pakistan, Russia, Syria, Turkey, Ukraine and other countries.Marathon route: State Flag Square - Seaside Boulevard - Baku International Sea Station - Neftchilar Avenue - Baku Ag Shaher Boulevard - Khagani Rustamov Street - Baku Ag Shaher Boulevard, 8 Noyabr Avenue, part of Yusif Safarov Street - intersection of Afiyaddin Jalilov and Uzeyir Hajibeyli streets, Crossing the "Javanshir" bridge, Uzeyir Hajibeyli Street - Neftchilar Avenue, Bayil Circle, Bibiheybat Road (Water Sports Palace) and moving along the Seaside Boulevard (behind the Water Sports Palace, Baku Crystal Hall) - State Flag Square. http://www.today.az/news/regions/247613.html World news Sat, 27 Apr 2024 09:00:00 +0400 The export duty on gold may be canceled from June 1 of this year concurrently with the law becoming effective that introduces an extra coefficient to the mineral extraction tax for gold totaling 78,000 rubles ($848.8) per kilogram, Deputy Finance Minister of Russia Alexey Moiseev told reporters, Azernews reports, citing TASS."The plan is, firstly, from the standpoint of a ‘mini maneuver,’ to implement all that since June 1," the official said.The ministry arrived at a conclusion that in order to force unfair exporters to pay the duty, there must be taken "draconian measures that would affect the sector at large," Moiseev noted.Russian President Vladimir Putin signed earlier the law to increase the mineral extraction tax for gold by 78,000 rubles per kilogram from June 1 to December 31, 2024. http://www.today.az/news/politics/247612.html Politics Sat, 27 Apr 2024 08:30:00 +0400 "In Europe, there is increasing demand for natural gas from new sources. If in 2021 we supplied 8 billion cubic meters of gas to European Union countries, this year that figure has reached 12 billion cubic meters. We are investing additional capital and allocating additional funds to support European countries in this matter," President of Azerbaijan Ilham Aliyev said in a joint press conference with Chancellor of Germany Olaf Scholz in Berlin, Azernews reports, citing Azertag."Thus, Azerbaijan, which is rich in both traditional and renewable energy sources, will continue to be an important partner for Europe for many years to come," President Ilham Aliyev pointed out.Recall that Ilham Aliyev, President of the Republic of Azerbaijan, embarked on a working visit to Germany from the city of Fuzuli on April 25 at the invitation of the Olaf Scholz, Federal Chancellor of the Federal Republic of Germany, to participate in the High Level Segment of the 15th Petersberg Climate Dialogue.During his visit President Ilham Aliyev had meetings with German President Frank-Walter Steinmeier, German Chancellor Olaf Scholtz, Germany's Foreign Minister Annalena Baerbock and many other officials. Besides, the Azerbaijani President attended the High Level Segment of the 15th Petersberg Climate Dialogue in Berlin, Germany. http://www.today.az/news/politics/247611.html Politics Sat, 27 Apr 2024 08:00:00 +0400 Türkiye will strengthen its cooperation with Kazakhstan in the fields of mining and electricity, said the country’s vice president on Thursday, Azernews reports, citing Anadolu Agency.Cevdet Yilmaz attended a signing ceremony of the Intergovernmental Joint Economic Commission meeting with Kazakh Prime Minister Oljas Bektenov at the presidential complex in the Turkish capital Ankara.“We will strengthen our cooperation in the fields of mining and electricity. We will take new steps in logistics and transportation, especially in the Central Corridor. We plan to sign an agreement in the maritime field,” Yilmaz said at the meeting.He expressed hope that the commercial and economic ties between the countries will reach levels that reflect “brotherly relations” and grow even stronger as soon as possible.Yilmaz added that they plan to increase cooperation in the field of regional development."Our goals include exchanging knowledge and experience, especially in smart cities, and holding business and investment forums in the regions of Kazakhstan,” he said.Stressing that they continue relations with Kazakhstan on the basis of strategic cooperation, Yilmaz said the business forum and bilateral and inter-delegation meetings were completed “successfully, extremely productively, befitting brotherhood and friendship.”At the ceremony, Yilmaz and Bektenov signed an Action Plan Protocol between Türkiye and Kazakhstan.??????? http://www.today.az/news/regions/247606.html World news Fri, 26 Apr 2024 23:30:00 +0400 Otar Shamugia, the Minister of Environment Protection and Agriculture of Georgia, and Raimund Jehle, the representative of the United Nations’ Food and Agriculture Organisation in the country, on Friday signed an agreement for a new four-year, $4 million project to enhance competitiveness in the agricultural sector, elevate food production, introduce new technologies, increase the knowledge of farmers, reduce poverty in rural areas and promote gender and social balance in the sector, Azernews reports, citing Agenda.The target groups of the Inclusive Rural Development and Sustainable Agriculture project are farmers, cooperatives, rural households, educational institutions, private sector representatives and owners of family farms.Shamugia thanked the FAO and the Austrian Government for support and partnership over the years and emphasised the importance of the FAO's involvement in Georgia's cooperation with the European Union, particularly in implementing the recommendations issued in relation for the country’s membership candidate status.With joint efforts we have implemented a number of important projects. As you know, Georgia is at a new stage of cooperation with the European Union, and [...] the involvement of the FAO and partner organisations in this process is particularly important”, he said.Shamugia said the new project would “significantly contribute” to strengthening the agricultural sector and “effectively” implementing the recommendations.In his turn, Jehle noted the signing of the new project was “proof” of support for the country and future cooperation. He also highlighted the FAO supported Georgia's rapprochement with the EU and the signing of the new project marked a “new stage” of development in agriculture. http://www.today.az/news/regions/247607.html World news Fri, 26 Apr 2024 22:55:00 +0400 The Delegation of the European Union to Georgia on Friday shared plans for the annual upcoming Europe Day celebrations in the capital city of Tbilisi, while noting the country would mark the date for the first time as a European Union membership candidate, Azernews reports, citing Agenda.While the date is usually celebrated on May 9, this year all public events will be hosted on May 11 to “allow as many people as possible” to attend, the Delegation said, adding this year’s theme would be ‘United in Diversity’.This year the celebration in Tbilisi will underline that the doors to EU membership for Georgia – an EU candidate country – have finally been opened wide. Now it is up to the Georgians to walk through those doors by swiftly implementing necessary reforms”, the EU Ambassador to Georgia, Pawe? Herczy?ski, said.The EU Delegation said thousands of people were expected to come together to celebrate “peace, diversity and the values uniting the EU and Georgia”.The celebration will be hosted at the Expo Georgia fairgrounds, offering a chance to visitors to “travel virtually to countries of the EU and learn more about the EU’s three decades-long” support to Georgia, organisers also said, adding six different spaces would be organised in five pavilions and courtyards to enable visitors to “experience what the EU is all about”.Pavilion three will host entrepreneurs who have benefited from EU support to start up or expand their businesses.Pavilion four and five will offer entertaining and educational activities, give out souvenirs, and organise cultural performances and concerts within a Team Europe event, where embassies of EU member states will introduce visitors to the culture and history of their countries.Pavilion six will host panel talks with celebrities on “values, culture and environment” as well as opportunities for businesses and youth, with the discussions moderated by the popular journalist David Gorgiladze.In Pavilion 11, projects funded by the bloc will present their activities.A market of agriculture products will invite visitors to sample products and dishes offered by farmers from various regions of Georgia, while a puppet show will be performed in a specially opened marquee. http://www.today.az/news/regions/247608.html World news Fri, 26 Apr 2024 22:20:00 +0400 Silk Avia airline and the Humo payment system, both wholly state-owned, will be put up for public sale. Additionally, shares of state holdings in four organizations under "Uzbekneftegaz" JSC, forty-two under "Uzavtosanoat" JSC, and nine under "Uzbekistan Railways" JSC will be privatized, Azernews reports, citing Kun.uz news agency.The presidential decree "On additional measures to reduce the state's participation in the economy" has been adopted.The decree confirms the following:- A list of share packages (shares) to be offered in public trading;- A list of real estate objects of state and state-participated enterprises to be offered in public trading;- A list of enterprises whose shares will undergo an initial (IPO) or secondary (SPO) public offering on the local stock market.If state assets remain unsold for three months (with the exception of Tashkent city and regional centers), their value can be gradually reduced by up to 10 percent.Entrepreneurs who have rented state property for at least five years and fulfilled their obligations under lease agreements until the current year will have the right to purchase the object directly at the assessed value included in privatization programs.From July 1, 2024, in large state-participated enterprises:- A corporate secretariat accountable to the supervisory board will be established to improve the corporate governance system, including increasing the efficiency of its bodies;- Updated corporate governance rules and ethics code will be implemented;- The possibility to formalize the supervisory board's protocols through electronic voting using remote information and communication technologies will be created.Privatization of state shares in four organizations within "Uzbekneftegaz" JSC, forty-two within "Uzavtosanoat" JSC, and nine within "Uzbekistan Railways" JSC will take place.Furthermore, 100 percent of state shares in Silk Avia airline, “National Interbank Processing Center” (Humo payment system), and Khumson sanatorium will also be put up for public sale.In addition, an initial (IPO) and secondary (SPO) public offering of state shares in twelve large enterprises will be conducted on the local stock market. http://www.today.az/news/regions/247609.html World news Fri, 26 Apr 2024 21:45:00 +0400 The president's decree “On measures to improve the regulation of the organization and conduct of lotteries and risk-based games” has been adopted, Azernews reports, citing Kun.uz news.According to the decree, from January 1, 2025:— the organization of risk-based games on the internet and bookmaking activities will be permitted;— the activities of organizing lotteries, internet games, and bookmaking will be conducted based on licenses granted in accordance with the legislation by the Prospective Projects National Agency.Residents and non-residents of Uzbekistan who have reached the age of 18 can participate in a lottery, internet games, and bookmaking bets organized based on licenses.From January 1, 2025, for a period of 5 years, the following order will be set for taxing the activities of organizing lotteries as well as games on the internet and bookmaking activities:— legal entities organizing lotteries, risk-based games on the internet, or bookmaking will be taxed at a rate of 4 percent after deducting the winnings paid out and the stakes refunded from their total revenue obtained from these activities;— incomes of individuals in the form of winnings obtained from lotteries and internet games conducted based on licenses granted by the Agency and from bookmaking bets are exempt from income tax.The monitoring and control functions of compliance with the legislation on combating the legalization of proceeds from criminal activities, financing terrorism, and the financing of the proliferation of weapons of mass destruction by the organizers of lotteries, internet games, and bookmaking activities will be carried out by the Agency and the Department for Combating Economic Crimes under the Prosecutor General's Office. http://www.today.az/news/regions/247610.html World news Fri, 26 Apr 2024 21:11:00 +0400 Türkiye’s direct investments in Romania have reached $7.5 billion, the country’s vice president said Thursday, Azernews reports, citing Anadolu Agency.“Our direct investments in Romania have reached a very high level of $7.5 billion when the third country investments are included,” Cevdet Yilmaz said in the Romanian capital Bucharest.In terms of direct investments, Romania is among the top 10 countries among European Union member states where Turkish companies invest, and in the contracting sector, it is a country that ranks first in Europe, he added.“The figures in the first three months of this year indicate that there will be a very serious increase this year. I hope we will reach $13 billion, but we aim for a much higher trade volume in the medium and long term,” he said.Yilmaz said the total trade volume increased to $10.6 billion last year."Romania's geographical proximity to our country, existing transportation facilities, and the presence of businesspeople and contractors operating here increase the potential for trade and cooperation between the two countries,” he said.He added that Romania is one of the countries with which Türkiye has the highest level of political, economic, military and cultural relations in Europe and the Balkans.??????? http://www.today.az/news/entertainment/247605.html Arts & Entertainment Fri, 26 Apr 2024 20:43:00 +0400 By Laman IsmayilovaGanja State Philharmonic Hall has arranged a concert in honor of the well-known tar player and teacher, People's Artist of Azerbaijan Fikrat Vardiyev (09/2/1947-12/22/2022).The concert was organized within the project "Ganja and the People of Ganja", Azernews reports.The host of the evening, Honored Artist Firdovsi Atakishiyev, spoke about Fikrat Vardiyev's contribution the development of national culture and the promotion of the art of tar throughout the world.Fikrat Vardiyev's widow, head of the Khan Shushinsky Foundation Beyimkhanum Javanshirova-Vardiyeva, shared her memories, expressing gratitude to the organizers of the evening. Guests were shown a film about the life and work of the tar player.People's Artists Niyameddin Musayev, Samir Jafarov, Honored Artists Ekhtiram Huseynov, Sevinj Sariyeva, Honored Cultural Worker Mehpara Jafarova, young performers Sabina Arabli, Kamilya Nabiyeva, Miralam Miralamov, Anar Guliyev, Khumay Gadimova, soloists Samir Mamedov, Leyla Mehdiyeva, Chinara Iskandarova, Shirvan Jahangirov and Rovshan Mammadov performed at the concert.They were accompanied by the Goygol State Song and Dance Ensemble (artistic director - Sahil Guliyev, choreographer - Syanan Javadov). The director of the evening was Honored Artist Hafiz Guliyev.Media partners of the event are Azernews.Az, Trend.Az, Day.Az and Milli.Az.Fikrat Vardiyev was born on September 2, 1947 in the city of Ganja. Since childhood, he had a great love for national music and at the age of 10 he began studying in the tar class of music school No. 1 in Ganja.In 1962, Fikrat Vardiyev continued his studies in the tar class of the Ganja Secondary Music School named after Ganbar Huseynli.At the same time he headed amateur groups of the House of Pioneers and Schoolchildren and the House of Culture.In 1960, the team he led became the winner of the republican competition among schoolchildren.In 1966, the musician entered the faculty of folk performer and tar playing at the Azerbaijan State Conservatory and studied in the class of Adil Geray.As a student, he began teaching at music schools in Ganja and Dashkesan region.In 1969, in Ganja he created the ensemble of folk instruments "Goy-Gol" and performed with great success not only in the country, but also abroad, the group received international awards and honorary diplomas.Such famous performers as Shovket Alakbarova, Zeynab Khanlarova, Rubaba Muradova, Nazaket Teymurova, Flora Karimova, Ilhama Guliyeva, Nisa Gasimova, Sakina Ismayilova, Kamala Rahimli, Arif Babayev, Islam Rzayev, Janali Akbarov, Mammadbagir Bagirzade, Elmira Rahimova, Baba Mahmudoglu and others performed in this ensembleAt the same time, Fikrat Vardiyev taught at the Ganja secondary music school named after Ganbar Huseynli.Since 1972, the ensemble has received nationwide love and fame, facilitated by successful performances with Zeinab Khanlarova.In 1977, the ensemble was awarded the status of the State Song and Dance Ensemble.In 1982, Zeynab Khanlarova invited Fikrat Vardiyev as an accompanist to her new ensemble, with which she toured to more than forty countries around the world.In 1990, on the basis of the Goygol Ensemble, Fikrat Vardiyev created the Ganja State Philharmonic Hall, and then an orchestra of folk instruments and a chamber orchestra.In 2001, he created Neftchi Song and Dance Ensemble at the Baku Oil Refinery, which attracted performers such as Kenul Khasiyeva, Aygun Bayramova, Rovshan Bekhjati, Samir Jafarov, Feyruz Sakhavet, Sabir Abdullayev, Teyyub Aslan and many others. The ensemble enjoyed huge success among music lovers.Fikrat Vardiyev was married to the daughter of the great mugham singer Khan Shushinsky, a direct descendant of the founder of the Garabagh Khanate Panah Ali Khan Javanshir - Beyimkhanum Javanshirova. He has two daughters, one son, four grandchildren.Fikrat Vardiyev passed away on December 22, 2022. http://www.today.az/news/politics/247604.html Politics Fri, 26 Apr 2024 20:26:00 +0400 Germany is one of the most important political and economic partners of Azerbaijan in Europe. Azerbaijan attaches great importance to the development of relations with this country. The results of the first official visit of the President of the Republic of Azerbaijan Ilham Aliyev to Germany in 2004 once again confirmed the greater potential for cooperation between the two countries. A number of agreements signed within the framework of the visit opened great opportunities in terms of economic cooperation.For example, the supply of Azerbaijani oil to Germany is one of the main pillars of the total trade volume. Thus, in 2022, Germany entered the list of 10 main importers of Azerbaijani oil. It is worth noting that there are currently 239 registered German companies in Azerbaijan. Approximately 170 of those organizations operating in the fields of energy, industry, agriculture, transport, communication, construction, banking, insurance, trade and service, are members of the Azerbaijan-Germany Chamber of Commerce.Germany is also a reliable partner within the framework of the Western Platforms and the host country for the negotiations between Armenia and Azerbaijan.Thus, the Munich Security Conference held in Germany is the leading international conference on security policy. Conferences are traditionally held in February of each year. At the conference, heads of state, foreign ministers, defense ministers, government officials, military leaders, members of parliament, heads of international and non-governmental organizations, academicians, and experts gather from all over the world.In 2020, when Azerbaijan's territorial integrity and sovereignty were ensured, President Ilham Aliyev participated in this conference and demonstrated that Azerbaijan attaches importance to security, including the issues on the world's agenda. During the meeting, Ilham Aliyev emphasized that Garabagh is the eternal land of Azerbaijan, based on historical facts. In terms of knowledge of foreign languages, knowledge of history, and political argumentation, the president of Azerbaijan was significantly different from his opponent in the best sense of the word. President Ilham Aliyev held a bilateral meeting with Olaf Scholtz within the framework of the conference and conducted very effective negotiations on advancing the peace agenda between Armenia and Azerbaijan.The cooperation between Germany and Azerbaijan is developing in the political and economic spheres, as well as on the topic of Climate Change.Recall that Baku, the capital of Azerbaijan, will host the 2024 UN Climate Change Conference (UNFCCC COP 29) for the first time in the region from November 11–22, 2024. The decision was made at the plenary session of COP28 on December 11. Azerbaijan successfully participated in the COP28 held in Abu Dhabi last year.Azerbaijan will take the opportunity to bring heads of state and governments, civil society organisations, business, and international institutions together in the South Caucasus to discuss climate change, measures to accelerate the implementation of the Paris Agreement, and focus on long-term climate strategies and goals.COP29 and other global events that Azerbaijan has hosted and will hold show that this country's reputation in the world has increased to a great extent. As President Ilham Aliyev noted at the swearing-in ceremony, Azerbaijan is no longer a state operating at the local level, but is recognized as a country that promotes active partnership in various regions of the world and as a reliable partner, that actively participates in solving global problems in the world, and makes practical contributions to it.As the issue of climate change is one of the topics on Germany's agenda, cooperation between Azerbaijan and Germany in the field of COP29 was also expected. Thus, COP29 is a global event dedicated to solving the world's most important problem. The climate dialogue has been held under the auspices of the German Ministry of Foreign Affairs since 2022, and it has become particularly important to the topic of negotiations on the fight against climate change.The Petersberg Climate Dialogue is a large-scale event that will set clear directions for COP29, and the official invitation of Baku to the event as this year's host of COP29 testifies to the comprehensive development of Azerbaijan as well as the strength of its relations with Germany.It is worth noting that Azerbaijan confirmed its commitment to reduce the emission of greenhouse gases by 35 percent by 2030 and increase this target by 40 percent by 2050. Fulfilling the commitments under the Paris Agreement adopted in 2015 and actively working in this regard are priority issues for the government of Azerbaijan. http://www.today.az/news/entertainment/247600.html Arts & Entertainment Fri, 26 Apr 2024 20:00:00 +0400 On April 26, a meeting was held with the Zero Waste Foundation of Turkiye at the Heydar Aliyev Foundation.Executive Director of the Heydar Aliyev Foundation, Anar Alekbarov, spoke about the activities of the Foundation headed by the First Lady of Azerbaijan, Mehriban Aliyeva, and the implemented projects.Stating that one of the priority areas of the Heydar Aliyev Foundation, which was established on May 10, 2004 and has completed 20 years of activity this year, is projects on environmental protection, Anar Alakbarov drew attention to the measures implemented and planned by the Foundation in this direction.At the meeting, it was mentioned that this year Azerbaijan will host an important international event such as COP29, that our country joined the fight against global climate change by becoming a party to the UN Framework Convention on Climate Change, that the President of the Republic of Azerbaijan Ilham Aliyev declared our territories freed from occupation a "Green Energy" zone, that those territories It was announced that it is planned to become a "Net zero emission" zone by 2050. It was noted that the Heydar Aliyev Foundation provides important support to the work carried out in this field in our country with its projects in the direction of environmental protection.Samed A??rba?, Chairman of the Board of Trustees of the First Lady of the Republic of Turkey, Amina Erdogan, and Gökhan Cangi, Assistant to the Chairman of the Board of Trustees of the Foundation, said that the main goal of the institution they represent is the protection of the environment and human health, and special attention is paid to issues such as the promotion of waste water reuse and recycling. they noted the importance they attach and the projects implemented in this direction.At the meeting, a Memorandum of Understanding was signed between the Heydar Aliyev Foundation and the Zero Waste Foundation within the framework of COP29, as well as cooperation in the field of environmental protection, promotion of cultural exchange and protection of cultural heritage. http://www.today.az/news/regions/247601.html World news Fri, 26 Apr 2024 19:41:00 +0400 Oil prices increased on Friday due to strong US demand and rising tensions in the Middle East, Azernews reports, citing Anadolu Agency.International benchmark Brent crude traded at $89.66 per barrel at 10.36 a.m. local time (0736 GMT), a 0.7% increase from the closing price of $89.01 per barrel in the previous trading session.The American benchmark West Texas Intermediate (WTI) traded at $84.05 per barrel at the same time, a 0.6% increase from the previous session that closed at $83.57 per barrel.The US, the world's largest oil-consuming country, showed robust demand when the US Energy Information Administration (EIA) announced on Thursday that commercial crude oil stocks had decreased by approximately 6.4 million barrels to 453.6 million barrels last week.Plus, concerns over the ongoing conflict in the Red Sea flagged supply risks and propped prices up.Yemen’s Houthi group stated Friday that they carried out attacks targeting an Israeli vessel and multiple sites in the southern Israeli city of Eilat.The group's military spokesperson, Yahya Saree, said in a televised speech that their forces successfully targeted the Israeli ship MSC Darwin using missiles and unmanned aerial vehicles (UAVs) in the Gulf of Aden.Additionally, uncertainties over when the US Federal Reserve (Fed) will start interest rate cuts continue to influence oil prices.The possibility of a rate cut limited upward price movements, as generally high interest rates boost the value of the US dollar, making oil more expensive for holders of other currencies. http://www.today.az/news/entertainment/247602.html Arts & Entertainment Fri, 26 Apr 2024 19:20:00 +0400 Laman IsmayilovaThe Russian House in Baku has hosted a classical music concert to mark the 150th anniversary of the birth of the outstanding musician and teacher Elena Gnesina, Azernews reports.The event was co-organized by the Baku Music Academy and the Russian House in Baku, Azernews reports.Deputy Head of the Russian House in Baku Dmitry Egorov delivered a welcoming speech.The host and curator of the event, Doctor of Philosophy in Art History, senior lecturer of the Baku Music Academy Alena Inyakina, told the audience about the historical role of E.F. Gnesina, her extremely large-scale activities in such areas as teaching, performing, composing, organizing, and public. The legendary personality E.F. Gnesina left an indelible mark on the history of musical art.Guests were presented with a rich palette of colorful musical programs, consisting of popular as well as rarely performed works of academic music from different artistic styles and national schools of composition.Baku Music Academy's accompanists Ulviya Aliyeva, Arzu Safarova, Dilyara Kerimova performed, as well as BMA students, laureates of international competitions Nariman Masimov, Fidan Yunus, Zhalya Mailova, Zarifa Khasilova, Ali Adigezalov, Daler Odinaev, Sabina Hasanzade, Amin Heydarov, Farid Gadzhiev, Gulnara Salmanova, Nuray Ismailzade, Aidan Kuliyeva, Kanan Rahmanzade, Museyib Asadov, as well as Aisu Mammadli, Khadija Gasimova, Kanan Bagirov.Media partners of the event are Azernews.Az, Trend.Az, Day.Az and Milli.Az. http://www.today.az/news/business/247603.html Business Fri, 26 Apr 2024 18:51:00 +0400 In March of this year, the amount of non-cash payments in Azerbaijan increased by 60% compared to the same period last year and reached 5,697 million manats ($3.35 billion), Azernews reports, citing the Central Bank of Azerbaijan (CBA).4,737 million manats ($2.78 billion) fell to the share of electronic trade.As of April 1, 2024, the number of payment cards in Azerbaijan amounted to 17.421 million, up 0.4% from a month earlier, 2.9% from early 2023, and 22.3% from a year ago.The number of debit cards in Azerbaijan increased by 22.8% to 15.143 million over the past year, and the number of credit cards soared by 18.9% to 2.278 million. The turnover of these cards amounted to 8.906 billion manats ($5.23 billion) (36% more than a year earlier) and 645 million manats ($379.2 million) (41.4% more), respectively.During the reporting period, the number of ATMs and POS terminals in the country increased by 2.7% and 13.7%, respectively, and reached 3,152 (1,639 in Baku) and 91,755 (59,638 in Baku). http://www.today.az/news/politics/247599.html Politics Fri, 26 Apr 2024 18:34:00 +0400 Fatime Letifova The mines laid by Armenia endanger the lives of Armenia's own citizens too, Azernews reports, citing the post shared by Azerbaijan's Ambassador to Iran, Ali Alizada, on his official "X" account.He recalled that an Armenian soldier was injured as a result of a mine explosion on the border with Azerbaijan."The number of Azerbaijani victims is 352 since the end of the 2020 war," the diplomat noted. http://www.today.az/news/business/247596.html Business Fri, 26 Apr 2024 18:17:00 +0400 Ulviyya Shahinbp as operator of the Azeri-Chirag-Deepwater Gunashli (ACG) field development project, advises that as part of its ACG annual work program, it is conducting planned maintenance (turnaround-TAR) works on the Deepwater Gunashli platform, Azernews reports, citing bp-Azerbaijan.In accordance with the plan, production from the Deepwater Gunashli platform was suspended on April 25 for 15 days to enable efficient maintenance, inspection, and project work to be undertaken.During the TAR, various projects, including valve changeouts and nucleonic source replacements, as well as required repair works, will be undertaken.This is a planned program and is part of normal operations. The planning phase of the program started in 2023, and these activities are included in the 2024 Annual Work Program and Budget. The shut-down is also included in the annual production forecast.Production from the other ACG platforms, as well as the platforms on the Shah Deniz field, Sangachal terminal operations, and export operations via Baku-Tbilisi-Ceyhan and the South Caucasus Pipeline (SCP and SCPX), continue as normal.This planned event is a necessary part of the long-term reliability, integrity, and production performance, driven by repair and facility modification work that can only be performed during a plant outage. http://www.today.az/news/entertainment/247578.html Arts & Entertainment Fri, 26 Apr 2024 17:58:00 +0400 Laman Ismayilova The Eurovision 2024 stage has been unveiled by the Swedish national broadcast, Azernews reports citing the Eurovision TV.Placed in the center of the audience, the magnificent stage is cross-shaped, offering a unique 360-degree viewing experience.Designed by Florian Wieder and Fredrik Stormby, the stage incorporates 2,168 lighting fixtures, each equipped with LED or laser sources. Extensive pre-programming over four weeks was necessary to achieve the final lighting effects.LED technology plays a crucial role in animating the stage, with approximately 1,000 square meters of LED screens integrated into the set. The stage floor LED covers 186 square meters, while the backdrop LED screen spans 340 square meters.Suspended from the ceiling are 5 LED cubes, adding 460 square meters of LED effects during the live shows.A total of 204 tonnes of technical equipment is hung from the Malmo Arena ceiling, controlled by 196 variable speed hoists.Production designer Florian Wieder is excited about the upcoming event:"I am so happy to be part of the Eurovision family again! Putting together an exceptional show is a team effort and I'm proud to be part of a dream team of professionals – just the right constellation of people to come up with something different and new. We all have the same vision of what this show should be and how to take Eurovision to the next level, and for me Sweden is always a guarantor of good music and entertainment," said Florian Wieder."We believe that together we have created what is an unexpected and updated concept for the Eurovision Song Contest 2024 and are looking forward to showing it off for real! We've developed a strong concept together, and I'm really looking forward to getting my teeth into the show and doing the broadcasts!," Light and screen content designer Fredrik Storm added.The first semi-final? ?f the Eurovision Song Contest 2024 will take place? ?n May? 7, while the second semi-final? ?s scheduled for May? 9. The grand final will take place? ?n May 11.It will? be the third edition? of the contest? t? take place? ?n Malmo, which hosted? ?t? ?n 1992 and 2013, and the seventh? ?n Sweden, which last hosted? ?t? ?n Stockholm? ?n 2016. Thirty-seven countries are expected? t? participate? ?n Eurovision 2024.Menwhile, Fahree (Fahri Ismayilov) and Ilkin Dovlatov will represent Azerbaijan at Eurovision 2024 with the song "Özünl? apar".The song was co-written by Fahree, Edgar Ravin, Hasan Haydar, Mila Miles, and Mado Salikh.Fahree (Fahri Ismayilov) and Ilkin Dovlatov are set? t? perform the song? as entry number?12? ?n the second part? ?f the first semi-final? of Eurovision 2024. http://www.today.az/news/sports/247579.html Sports Fri, 26 Apr 2024 17:43:00 +0400 Laman Ismayilova Central Scientific Library has hosted an awarding ceremony for the winners of the Azerbaijan Chess Championship, Azernews reports.Ayd?n Suleymanli, who became the champion of Azerbaijan for the first time in his career, was awarded a gold medal and 12,000 AZN cash prize.Medals and prizes were presented by the President of the Azerbaijan Chess Federation Mahir Mammadov, as well as the Vice-President Faig Hasanov.Ayd?n Suleymanli won over Mohammad Muradli in the final. Vugar Rasulov, who defeated Khazar Babazadeh in the match for the 3rd place, won the bronze medal.The Azerbaijani Chess Championship is usually held in Baku, Azerbaijan. It is organized by the Azerbaijan Chess Federation (ACF).The Azerbaijan Chess Federation was founded in 1920. Elman Rustamov has been president of the National Chess Federation since 2007.The national chess players have always taken high places at top-ranked tournaments. http://www.today.az/news/business/247580.html Business Fri, 26 Apr 2024 17:25:00 +0400 Ulviyya Shahin The volume of broad money supply in Azerbaijan as of April 1, 2024, amounted to 44,830.3 million manats ($26.36 billion), Azernews reports, citing the Central Bank of Azerbaijan (CBA).According to the CBA, this amount is 0.2% more than a month earlier, 0.5% less than at the beginning of 2024, and 9.1% more than the previous year.The volume of broad money supply in manats at the end of March 2024 amounted to 34,453.6 million manats ($20.25 billion), which is 0.6% more than a month earlier, 2.6% less than at the beginning of 2024, and 16% more than the previous year. http://www.today.az/news/politics/247598.html Politics Fri, 26 Apr 2024 17:22:00 +0400 President of the Republic of Azerbaijan Ilham Aliyev’s meeting with Minister of Industry and Advanced Technology of the United Arab Emirates Sultan Ahmed Al Jaber has begun, Azernews reports. http://www.today.az/news/business/247581.html Business Fri, 26 Apr 2024 17:08:00 +0400 By Azernews Ulviyya Shahin Azerbaijan, a country rich in oil and gas resources, has been steadily diversifying its economy in recent years to reduce its dependency on the energy sector. The banking industry plays a crucial role in this economic diversification process, facilitating investments, supporting businesses, and providing financial services to individuals.Over the past few years, Azerbaijan's banking sector has seen notable growth and development, driven by various factors such as regulatory reforms, technological advancements, and increased access to finance. The Central Bank of Azerbaijan (CBA) has been instrumental in implementing policies aimed at ensuring stability and promoting growth within the banking sector.One of the key indicators of the performance of the banking industry is the income generated from loans. As businesses and individuals borrow money from banks for various purposes, including investments, consumption, and working capital needs, the interest income earned by banks reflects the level of economic activity and credit demand in the country.As reported by Azernews, citing data from the CBA, the income of banks in Azerbaijan from loans during the first quarter of 2024 has reached a significant milestone. The report reveals that banks' interest income on loans surged to 729.1 mln manats ($428.88 mln) in the third month of the year, demonstrating a robust 19.4% increase compared to the same period last year.This substantial growth in interest income reflects a buoyant lending environment, underpinned by economic expansion and increased credit demand across various sectors of the economy. As businesses seek financing for expansion projects, infrastructure development, and operational needs, and individuals access credit for housing, education, and consumption, banks play a pivotal role in facilitating these financial transactions.Furthermore, comparing the figures to the corresponding period in 2023 highlights the sustained momentum in the banking sector's performance. In the first quarter of 2023, banks' interest income on loans totaled 610.4 mln manats ($359.06 mln), indicating a remarkable year-on-year increase in 2024.However, alongside the growth in interest income, it is essential to consider the corresponding expenses incurred by banks. Interest expenses during January-March amounted to 259.7 mln manats ($152.76 mln), representing a notable increase from 200.3 mln manats ($117.82 mln) recorded in the same period last year. The majority of these expenses are attributed to interest payments on deposits, reflecting the importance of deposit funding for banks' operations.Despite the rise in interest expenses, the significant increase in interest income outweighs the costs, resulting in a positive net interest margin for banks. This indicates healthy profitability and financial performance within the banking sector, supporting its role as a key driver of economic growth and development in Azerbaijan.Looking ahead, the continued growth and stability of the banking sector will depend on various factors, including prudent risk management practices, effective regulatory oversight, and ongoing efforts to enhance financial inclusion and access to finance for all segments of society. As Azerbaijan progresses on its path of economic diversification and development, the banking industry will remain a vital pillar supporting sustainable growth and prosperity. http://www.today.az/news/politics/247597.html Politics Fri, 26 Apr 2024 17:05:00 +0400 President of the Republic of Azerbaijan Ilham Aliyev held a meeting with Annalena Baerbock, Foreign Minister of the Federal Republic of Germany, in Berlin, Azernews reports. http://www.today.az/news/politics/247582.html Politics Fri, 26 Apr 2024 17:00:00 +0400 “The resolution adopted by the European Parliament on 25 April 2024 is groundless and openly misrepresents the human rights situation in Azerbaijan,” said Spokesperson of the Ministry of Foreign Affairs Aykhan Hajizada as he responded to the local media inquiry on the resolution of the European Parliament of 25 April 2024, Azernews reports.“Rubber-stamping such one-sided and biased resolutions has long become a usual business for the European Parliament.This cannot be considered other than an explicit political order by those forces in Europe that goes in the direction of further deteriorating relations with Azerbaijan.In these conditions, a certain group of European Parliament members being guided by their internal considerations and personal gains pushes through a distorted picture of the situation in Azerbaijan.The motives of those who initiate the adoption of such documents are to divert attention from the truly pressing socio-economic and political problems of the European community as well.Moreover, appeals to introducing sanctions against Azerbaijan, do nothing but complicate Azerbaijan-EU relations.We once again urge the European Parliament to stop interference in the internal affairs and judicial processes of Azerbaijan,” Hajizada added. http://www.today.az/news/politics/247583.html Politics Fri, 26 Apr 2024 16:47:00 +0400 The Foreign Affairs Committee Chairs of the Parliaments of the Turkic States, who are on a visit to Azerbaijan, visited the city of Khankandi, Azernews reports.It is reported that the guests will get acquainted with the city of Khankandi. http://www.today.az/news/business/247584.html Business Fri, 26 Apr 2024 16:29:00 +0400 Ulviyya ShahinSOCAR and the French oil and gas company TotalEnergies have closed a deal to each sell 15% of shares in the Absheron gas field development project in the Azerbaijani sector of the Caspian Sea to ADNOC from the UAE, Azernews reports, citing TotalEnergies.The company said that with the closing of the deal, the share of the French company and SOCAR in the project will be 35%, and the share of ADNOC will reach 30%.In August 2023, ADNOC signed an agreement with SOCAR and the French company TotalEnergies to acquire a 30% stake in the Absheron gas condensate field.The Absheron field, located approximately 100 km southeast of Baku in the Azerbaijani sector of the Caspian Sea, is operated by JOCAP, a joint operating company of Absheron Petroleum. The first gas from Absheron was extracted at the outset of July 2023. http://www.today.az/news/business/247586.html Business Fri, 26 Apr 2024 16:11:00 +0400 Ulviyya Shahin "Construction activities in Garabagh are expected to increase the influx of construction materials into the country," Azernews reports that this was stated by Vuqar Oruj, Chairman of the Azerbaijan Society of Appraisers (ASA).He noted that infrastructure restoration efforts in Garabagh, along with plans for large-scale constructions, necessitate a significant supply of construction materials.He emphasized that this increased demand will likely impact the prices of construction materials:"As restoration efforts intensify, the cost of construction materials is expected to rise. This is a natural consequence of the expanding real estate market. A decrease in the value of construction materials is not typical and may indicate external market interventions or temporary fluctuations. With our lands liberated from occupation and infrastructure restoration underway, there has been a surge in investment and interest in the country.Azerbaijan is experiencing a transformation in its economic landscape, leading to changes in citizen preferences and lifestyles. The development of the Baku Master Plan and government initiatives are contributing to this shift. The current developments should be viewed as the result of economic changes shaping the lives of our citizens," V. Oruj added." http://www.today.az/news/business/247587.html Business Fri, 26 Apr 2024 15:50:00 +0400 Ulviyya Shahin This year, the international card organization "Mastercard" plans to integrate "Masterpass", a fast and secure one-touch payment solution, into the mobile applications of two major banks in Azerbaijan.Azernews reports that this was stated by Emil Zeynalov, country manager of "Mastercard" for Azerbaijan."Masterpass" is being developed in Azerbaijan. Last year, starting cooperation with a large bank, we included "Masterpass" in its mobile application. This year, we will expand the scope of "Masterpass" in Azerbaijan by implementing it with two big banks," he said.E. Zeynalov also said that the scope of NFC operations in Azerbaijan will be increased. http://www.today.az/news/business/247588.html Business Fri, 26 Apr 2024 15:32:00 +0400 Ulviyya Shahin The NAS Project Non-Bank Credit Institution, operational since 2021, concluded the previous year with a net profit and distributed dividends to its founder, Azernews reports, citing the annual audit report of NBCI.The year 2023 closed with a net profit of 434 thousand manats, stemming from interest income totaling 989 thousand manats.Following this net profit, the undistributed balance of profit reached over 406 thousand manats. NBCI allocated 207,000 manats of last year's net profit to its founder, Muhammad Guliyev, who currently holds 100% of shares valued at 1.3 million manats.However, Muhammad Guliyev remains the primary financial contributor to NBCI. Consequently, the interest-free debt extended by the founder to NBCI, which stood at 1.115 million manats at the beginning of 2023, escalated to 2.412 million manats by year-end.NBCI allocated nearly all funds received from the founder to client loans. The loan portfolio surged by 67% in the past year, reaching 4,042 million manats, with consumer loans comprising 98% (equivalent to 3.986 million AZN). In the previous year, consumer loans accounted for only 53% of the portfolio.Of the 3.156 million AZN in consumer loans disbursed by NBCI, a portion is secured by real estate, while unsecured loans totaled 222,000 manats."These adjustments aim to enhance clarity and flow while maintaining the original content and context of your passage. http://www.today.az/news/business/247589.html Business Fri, 26 Apr 2024 15:14:00 +0400 Ulviyya Shahin As of April 1, 2024, the nominal effective exchange rate of the Azerbaijani manat compared to foreign currencies was 103.7 points, Azernews reports, citing the Central Bank of Azerbaijan.This was 0.1 point higher than the previous month, 1.7 points more than the beginning of the year, and 7.2 points more compared to April 1, 2023.By the end of March, the real effective exchange rate of the manat was 121.8 points, down 0.7 point from a month earlier, 0.4 point more than the beginning of the year, and 1.9 points down from the same period in 2023. http://www.today.az/news/politics/247590.html Politics Fri, 26 Apr 2024 14:53:00 +0400 Ilham Aliyev, President of the Republic of Azerbaijan, and Olaf Scholz, Chancellor of the Federal Republic of Germany, are making press statements, Azernews reports. http://www.today.az/news/society/247591.html Society Fri, 26 Apr 2024 14:43:00 +0400 Laman Ismayilova Azerbaijan intends to expand tourism cooperation with Jordan, Azernews reports.The prospects of tourism cooperation were discussed within one-week familiarization trip to Jordan.The trip for Azerbaijani tourism companies was organized by the Jordan Tourism Board.The visit aims to develop tourism relations between the two countries, contribute to the exchange of mutual tourists and the direct flight, which is planned to be opened in the near future.As part of the trip, a B2B workshop was organized between 5 tourism companies representing Azerbaijan and 20 local tourism companies of Jordan in the capital city of Amman.Tourism between Azerbaijan and Jordan is steadily growing. Travelers can explore the diverse landscapes, taste local cuisine, and immerse themselves in the rich heritage of both countries.Note that Azerbaijan`s tourist flow to the country is expected to increase in 2026 to 4 million people.In 2019, the tourist flow to Azerbaijan amounted to a record of over 3.2 million people.The share of the tourism sector in non-oil GDP has increased four times in the country over the past 20 years.Construction of tourist complexes is being carried out in Azerbaijan's liberated territories.By 2025, about a million people are expected to visit the liberated territories, including both locals and foreign tourists. http://www.today.az/news/politics/247592.html Politics Fri, 26 Apr 2024 14:27:00 +0400 Ulviyya ShahinKyrgyzstan’s goodwill gesture to build a school in Karabakh not only makes a practical contribution to the restoration of the liberated territories, but also has a symbolic meaning, Chairman of the Board of Azerbaijan’s Center for Analysis of International Relations Farid Shafiyev said at a round table on the topic “Azerbaijan-Kyrgyz relations at the present stage: deepening the strategic partnership,” Azernews reports.“Recently, the dynamics of bilateral relations between the countries have been qualitatively changing and developing. Azerbaijan is implementing investment projects with Kyrgyzstan. I think relations will continue to develop,” he noted.According to Shafiyev, the role of the Middle Corridor, where Azerbaijan would also like to see Kyrgyzstan, is growing every day.