Tumar Ventures venture fund registered in Baku
A new venture capital fund, Tumar Ventures LLC, has officially registered in Azerbaijan. The newly established company has a charter capital of $1 million and...
Category : Economy
Azerbaijan’s manufacturing output rises 3.4% in nine months
Azerbaijan's manufacturing sector grew 3.4% in January-September, even as overall industrial output fell 0.8% to 51.2 billion manats, according to the State Statistics Committee....
ABB’s nine-month net profit rises 34.8% to 352.4 million manats
The International Bank of Azerbaijan (ABB) posted net profit of 352.4 million manats in the first nine months of 2026, up 34.8% from the same...
ADB approves $302 million loan for Baku metro signalling upgrade
The Asian Development Bank (ADB) has approved a $302.38 million loan to modernise the signalling system and digitalise operations at the Baku Metro. The funding...
Azerbaijan’s annual inflation rises to 5.5% in September
Consumer prices in Azerbaijan rose 5.5% in September compared with a year earlier, the State Statistics Committee reported. The sharpest increases were recorded in vegetables...
Azerbaijan’s strategic reserves near $89.38 billion as trade surplus tops $11 billion
Azerbaijan's strategic foreign currency reserves climbed to $89.38 billion as of October 1, while the country's foreign trade surplus surpassed $11 billion in the first...
Priciest motorcycles in Azerbaijan for sale reach 80,000 manats
Motorcycles are often dismissed in Azerbaijan as a cheap alternative to a car, but listings on classifieds site Turbo.az tell a different story. The five...
Financial Times: Vallourec wins major pipe deal with TotalEnergies for Absheron gas field
The Financial Times reports, citing a statement from France's Vallourec, that the company has secured a large order from TotalEnergies to supply pipe equipment for...
VAT refund scheme returns over 26.4 million manat to Azerbaijani citizens
Azerbaijan's State Tax Service says authorized banks refunded 26,453,100 manat in VAT to individuals between January and September under the "VAT Refund" scheme, covering cashless...
Mining sector average wage reaches 4,207 manats in Azerbaijan
Average monthly nominal wages for hired workers in Azerbaijan reached 1,173 manats in January-August 2026, up 7.2% from the same period a year earlier. The...