Oval Useful news from Azerbaijan and Caucasus

As many as 55,000 Turkish citizens live in Azerbaijan, Trend reports with reference to the Turkish Foreign Ministry. In addition to Azerbaijan, 40,000 Turkish citizens live in Russia and 2,000 Turkish citizens live in Uzbekistan, according to the report. Besides, 40,000 Turkish citizens live in Kazakhstan and 5,000 Turkish citizens …

  January saw a growth in the import of Georgian wines. Azerbaijan imported 5,790 bottles of wine from Georgia in early 2019, the National Wine Agency of Georgia told Report. This is a two-fold increase compared to January 2018. Last month, Georgia exported 6.25 million bottles of wine to 24 countries, which is …

Azerbaijani banks’ capital adequacy is the highest among CIS systems, Trend reports referring to Moody’s report. “Azerbaijani banks have strongest capital adequacy as a result of government capital support for the International Bank of Azerbaijan (IBA),” Moody’s said. The Azerbaijani Financial Market Supervision Authority (FIMSA) has approved a schedule for …

The European Bank for Reconstruction and Development (EBRD) is ready to consider the possibility of further allocating manat loans to Azerbaijani companies, Head of EBRD Baku office Ivana Duarte told Trend. “The development of local capital markets and local currency lending is among our top priorities in Azerbaijan. Companies, which …

The Organization of Islamic Cooperation (OIC) will hold its first festival next week. The event will run from February 5-9 in Egypt, under the theme “One Nation, A Diversity of Cultures, Palestine in the Heart,” the Saudi Press Agency (SPA) reported on Thursday, according to Arab News. The festival’s opening …

“Georgia and Azerbaijan maintain very successful cooperation in the region. The jointly implemented energy and transport projects continue to increase the influence and importance of the two countries. Today, with confidence we can say that Azerbaijan and Georgia play the role of a bridge between Europe and Asia,” mayor of …

President of the Republic of Azerbaijan Ilham Aliyev has signed an Order on measures for ensuring activity of the Baku İnternational Center of Multiculturalism, to widely propagandize multicultural traditions in Azerbaijan. Under the Presidential Order, AZN 800 thousand was allocated to the Baku İnternational Center of Multiculturalism from the state …