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Thursday April 25 2024
Foreign remittances to Azerbaijan witness decline in Q1 2024

Foreign remittances to Azerbaijan witness decline in Q1 2024

Foreign remittances, a crucial component of Azerbaijan's economy, have witnessed a significant downturn in the first quarter of 2024. According to data from the Central Bank of Azerbaijan, remittances sent through fast money transfer systems plummeted by 31%, marking a concerning trend for the nation's economic stability.

Hungary's Hell Energy to launch new factory in Azerbaijan next year

Hungary's Hell Energy to launch new factory in Azerbaijan next year

According to the contract signed between Azerbaijan Investment Company OJSC, under the Ministry of Economy, and Hell Energy company, a new factory with an annual production capacity of 700 million aluminum beverage cans will be put into use next year in the territory of the Alat Free Economic Zone, Azernews reports.

Mass grave discovered in liberated Khojaly

Mass grave discovered in liberated Khojaly

Human remains believed to belong to at least six people were discovered in the Malibeyli village of Azerbaijan’s liberated Khojaly district, Azernews ​reports, citing the General Prosecutor's Office and the State Commission on Prisoners of War, Hostages, and Missing Persons.

ADB allocates nearly $10 bln internally for climate change initiatives

ADB allocates nearly $10 bln internally for climate change initiatives

The Asian Development Bank (ADB) committed $23.6 billion from its own resources in 2023, including $9.8 billion for climate action, to help Asia and the Pacific progress on sustainable development, Azernews reports.

Azerbaijan's economy demonstrates sustainable growth even in period of crisis, says President

Azerbaijan's economy demonstrates sustainable growth even in period of crisis, says President

“Azerbaijan's economy is actually a self-sufficient economy and it demonstrates sustainable growth even in the period of crisis,” said President Ilham Aliyev as he addressed the international forum themed “COP29 and Green Vision for Azerbaijan” organized by ADA University, Azernews reports.

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