Shamakhi: The geomagnetic storm currently affecting the region is anticipated to last until February 12, as reported by the Shamakhi Astrophysical Observatory named after Nasreddin Tusi. According to Azeri-Press News Agency, the storm, classified at a G1 (weak) level, is continuing due to the influence of negative polarity High-Speed Coronal Hole Flows. On February 10, … Read more
Washington: President Donald Trump has announced that he has instructed the Treasury Department to cease the production of new pennies, citing the increasing cost involved in minting the one-cent coin. According to Azeri-Press News Agency, the decision was revealed through a post on Trump’s Truth Social site, where he expressed concerns over the financial inefficiency … Read more
Baku: The World Bank has organized a presentation of its annual global report, the World Development Report (WDR) for 2024, in Baku, APA-Economics reports. According to Azeri-Press News Agency, this year’s report is titled “The Middle-Income Trap” and provides an in-depth analysis of the challenges and opportunities faced by developing economies in avoiding the middle-income … Read more
Baku: Azerbaijan has launched 21 criminal cases concerning municipalities over the past year. Measures were taken under administrative control to ensure the efficient use of local budget funds, adherence to legislation, and transparency in managing municipal property, including land. The efforts also aimed to prevent conditions conducive to corruption and other violations. These findings were … Read more
Baku: The World Bank has played a significant role in modernizing Azerbaijan’s key sectors, including energy, agriculture, transport, and healthcare, through over 50 investment projects, according to Shahmar Movsumov, Assistant to the President of the Republic of Azerbaijan. Movsumov, who is also the Head of the Department of Economic Issues and Innovative Development Policy of … Read more
Baku: The financial sector plays a crucial role in financing economic growth, said Taleh Kazimov, Chairman of the Central Bank of Azerbaijan, during his speech at the presentation event of the World Bank’s annual global report, APA-Economics reports. According to Azeri-Press News Agency, the Chairman of the Central Bank of Azerbaijan (CBA) has noted that … Read more
Brussels: The capacity rate of underground gas storage facilities in the European Union countries has dropped below 49%, APA-Economics reports, citing Gas Infrastructure Europe (GIE). According to Azeri-Press News Agency, the capacity rate of gas storage facilities in the European Union countries stands at 49.02%, which is 8.12 percentage points lower than the average for … Read more
Adana: Adana Demirspor President Bedirhan Durak has announced his resignation, marking a significant event in Turkish football as the team withdrew from their match against Galatasaray. According to Azeri-Press News Agency, the resignation was confirmed through a statement Durak released on social media. The announcement came after a tumultuous night for Adana Demirspor, which saw … Read more
London: Activist hedge fund Elliott Management has built a stake in struggling UK oil major BP, two people with knowledge of the move told Wall Street Journal, APA reports. According to Azeri-Press News Agency, the exact size of Elliott’s stake could not be learned but the $70bn assets under management hedge fund has adjusted its … Read more
