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ADNOC Vessels Attacked in Strait of Hormuz
Two vessels of UAE's ADNOC were attacked in the Strait of Hormuz; no casualties reported.
Trump signs memorandum on building shipyard for US Navy
US President Donald Trump signed a memorandum aimed at boosting shipbuilding and repair for the Navy, including the construction of a fifth shipyard.
Pskov Airport Imposes Temporary Flight Restrictions
Rosaviatsia has announced temporary restrictions on the acceptance and departure of aircraft at Pskov Airport.
India Prepares Construction of Two New Strategic Oil Reserve Facilities
Indian ISPRL has prepared feasibility studies for two new oil storage facilities, aiming to increase strategic oil reserves to the global standard of 90 days.
Uzbekistan and Qatar's Al Alfia Holding Discuss Chemical and Oil & Gas Projects
Uzbekistan plans to attract Qatari company Al Alfia Holding to joint projects in the chemical and oil & gas sectors, including localization of lubricants and equipment production.
EU fuel prices up 13.7% year-on-year in June
The cost of motor fuel and oils in the European Union rose by 13.7% in June compared with the same month last year, according to Eurostat.
Yaroslavl Airport Imposes Temporary Flight Restrictions
Russia's Federal Air Transport Agency (Rosaviatsia) announced temporary restrictions on flight arrivals and departures at Yaroslavl Airport.
Trump Imposes 100% Tariffs on Large Drone Imports
U.S. President Donald Trump signed a proclamation imposing tariffs on imported drones and their components, citing national security concerns.
Customs Officers Seize 17 iPhones and 190 Screens from Passenger in Baku
Azerbaijani customs officers discovered undeclared 17 iPhones, 190 screens, and accessories in a passenger's luggage arriving from Istanbul.
Car of Levantine Restaurant Founder Shot at in Moscow
On the evening of August 12, unknown attackers fired at the Range Rover of businessman Shaig Suleymanov in western Moscow. The incident occurred after he refused to pay extortionists.
Lut: Return of Armenian Product Imports Depends on Compliance with Rules
Russian Agriculture Minister Oksana Lut stated that compliance with rules and a clear algorithm for safe shipment of goods will help restore imports of Armenian products to previous levels.
Baku to Restrict Traffic on Several Streets Due to Road Repairs
Starting August 14, Baku will temporarily restrict traffic on several streets due to repair works.
Azerbaijan increases electricity exports to Russia by 5.8%
In the first half of 2026, Azerbaijan exported 64.669 million kWh of electricity to Russia, up 5.8% year-on-year. Export revenue rose 7.5% to $2.92 million.
Powerball Jackpot of $1.04 Billion Won in Illinois
Powerball organizers announced that a ticket sold in Illinois won the $1.04 billion jackpot. It is the eighth-largest prize in the lottery's history.
Google Adds Sign Language Translation to Gboard and Live Transcribe
Google has introduced a feature that translates American Sign Language (ASL) into text in Gboard and Live Transcribe, helping deaf and hard-of-hearing people communicate.
Georgia Extends Tender for Highways to Azerbaijan and Armenia
The deadline for bids on the tender to build four-lane highways linking Georgia with Azerbaijan and Armenia has been extended to August 24.
EFSD to Provide Tajikistan with $200 Million Budget Support Loan
The Eurasian Fund for Stabilization and Development will provide Tajikistan with a $200 million loan to support the state budget. The funds will be disbursed in three tranches.
IRGC: Ships Can Pass Through Strait of Hormuz Only with Iran's Permission
Iran's Islamic Revolutionary Guard Corps said safe passage through the Strait of Hormuz is guaranteed only with Iran's permission, contradicting U.S. claims of control.
Russia's International Reserves Rise to $740 Billion
Russia's international reserves increased by $19.7 billion over the week, reaching $740 billion as of August 7.
Azerbaijan and Central Asia: Cholpon-Ata Summit Unites the Region
Azerbaijan's ambassador to the US, Khazar Ibrahim, stated that the summit in Cholpon-Ata symbolized the unity of Azerbaijan and Central Asian countries, opening new opportunities for trans-Caspian cooperation.
Volume of CBA Notes in Circulation Exceeds 1 Billion Manats
The value of Central Bank of Azerbaijan notes in circulation exceeded 1 billion manats for the first time since July 24, 2024, reaching 1.07 billion manats as of August 13.
Azerbaijan Registers Four Foreign Digital Companies for Tax Purposes
Azerbaijan's State Tax Service has registered Xsolla, Valve, Formula One Digital Media, and Cleverbridge for VAT payment as part of digital services tax reform.
VTB Capital Reduction: Sign of Losses or Shareholder Flight?
VTB (Azerbaijan) announced a reduction in its authorized capital from 315.8 million to 94.7 million manats, raising questions about the bank's financial stability.
Southern Gas Corridor's 2025 Net Profit Down 4.7%
The Southern Gas Corridor CJSC closed 2025 with a net profit of $1.63 billion, down 4.7% year-on-year. Revenue fell by 8.1%.
Peru Considers Reopening Embassy in Baku
Peruvian newspaper La Razón reports that reopening Peru's embassy in Baku could be a significant step for developing relations with Azerbaijan, given its strategic location and economic potential.
Iran Warns US of Disinformation Around Strait of Hormuz
Iranian Foreign Minister Abbas Araghchi urged the US to be cautious, saying it had miscalculated regarding the Strait of Hormuz.
Azerbaijan Doubles AI-92 Gasoline Exports in First Half
In January-June 2026, Azerbaijan exported 5,365 tons of AI-92 gasoline worth $4.36 million, 2.3 times more in value and 72% more in volume compared to the same period in 2025.
Lenovo's quarterly revenue jumps 43% on AI demand
Chinese PC maker Lenovo Group Ltd reported record first-quarter revenue on strong demand for AI solutions, but posted a net loss due to warrant revaluation.
Anthropic in Talks to Acquire AI Startup Decart AI for $6 Billion
Anthropic is in talks to acquire Israeli AI startup Decart AI for $6 billion, which would be the largest deal in the company's history.
New Generation Fertilizer Production to Launch in Hajigabul Industrial Park
Az Agromila LLC has been granted resident status in the Hajigabul Industrial Park to produce next-generation fertilizers and biopesticides with investments of AZN 4.7 million.
Azerbaijan presents digital transformation experience at WEF meeting
Fariz Jafarov, Executive Director of the 4SİM Center, presented Azerbaijan's digital economy development strategy for 2026-2029 at an online meeting of the WEF Fourth Industrial Revolution Centers Network.
Azerbaijani Fuel Spending Up 4.9% in Seven Months
In January-July 2026, Azerbaijan's population spent 2.3 billion manats on gasoline and diesel, up 4.9% year-on-year.
Kazakhstan and Uzbekistan Discuss Development of Transport Corridor on Border with China
Representatives of the transport ministries of Kazakhstan and Uzbekistan conducted a joint inspection of infrastructure facilities on the Kazakh-Chinese border to increase cargo flow.
71 of 124 Modernized Railway Stations Put into Operation in Kazakhstan
Kazakhstan has commissioned 70 railway stations under a national modernization program, with 54 more under reconstruction.
Azerbaijan to Pay August Pensions on the 14th
The State Social Protection Fund of Azerbaijan will pay pensions on August 14 to residents of Baku, Sumgait, and the Absheron district.
Azerbaijan increases gold exports 25.5 times in H1 2026
In January-June 2026, Azerbaijan exported 24.2 tons of gold worth $3.67 billion, a 25.5-fold increase in value year-on-year.
Baku Metro to Purchase About 300 Carriages by 2030
Baku Metro plans to acquire about 300 new carriages for the Purple Line by 2030, with additional trains for other lines after infrastructure projects are completed.
Azerbaijan's Beverage and Tobacco Sales Up 1.3% in Seven Months
In January-July 2026, retail sales of beverages and tobacco products in Azerbaijan amounted to 1.672 billion manats, up 1.3% year-on-year.
Azerbaijan's Central Bank Discusses Crypto Asset Regulation
The Central Bank of Azerbaijan and the Fintech Association discussed developing regulations for crypto assets and measures to combat fraud.
Mortgage Fund Provides 208 Rent-to-Own Apartments in Absheron
The Mortgage and Credit Guarantee Fund has allocated 208 renovated apartments in Saray settlement, Absheron district, under the rent-to-own mechanism. Monthly payments start from 620 manats.
Azerbaijan Increases Social Payments by 10.3% in Seven Months
In January-July 2026, Azerbaijan allocated over 6.12 billion manats for pensions, benefits, and social assistance, up 10.3% year-on-year.
Kazakhstan's Reserves Approach $130 Billion
Kazakhstan's international reserves and National Fund assets grew in July, reaching nearly $130 billion, recovering after a spring decline.
Manat Exchange Rate to World Currencies for August 13
The Central Bank of Azerbaijan has published official exchange rates for August 13. The dollar remained at 1.7000 manat.
Annual Inflation in Russia Slows to 5.98% in July
Rosstat reported that inflation in July 2026 was 0.54%, and annual inflation slowed to 5.98%, below analyst expectations.
Uzbekistan and South Korea Aim to Double Trade to $4 Billion
Uzbekistan and South Korea plan to create a joint working group to increase bilateral trade to $4 billion per year, said Uzbek Deputy Prime Minister Jamshid Khodjayev.
CBA Discusses Digitalization of Capital Market
The Central Bank of Azerbaijan held a meeting to discuss capital market development and enhancing digitalization.
Georgia Advocates Stronger Ties with Azerbaijan and Turkey
Georgian Prime Minister Irakli Kobakhidze stressed the need to strengthen strategic ties with Azerbaijan and Turkey, including regional connectivity.
Azerbaijan and China Discuss Development of Business Ties
Azerbaijan's Economy Minister Mikayil Jabbarov met with a representative of Chinese company Xinjiang Joinworld to discuss prospects for joint projects.
VTB (Azerbaijan) to Cut Authorized Capital by 3.3 Times
VTB (Azerbaijan) decided at a shareholders' meeting on July 3 to reduce its authorized capital from 315.8 million to 94.7 million manats to align its capital structure with legal requirements.
Azerbaijan Housing Prices Up 8.6% in Q2 2026
In Q2 2026, Azerbaijan's housing price index rose 8.6% year-on-year, according to the Central Bank.
Yelo Bank Offers Cash Loans up to 50,000 Manats
Yelo Bank has announced cash loans up to 50,000 manats at an annual rate from 8.9%, with special offers valid until the end of August.
Crypto Market: Ethereum and BNB Rise, Bitcoin Declines
Over the past 24 hours, Ethereum and BNB have gained, Bitcoin has slightly declined, and Dogecoin has shown the largest growth among the top 10.
Number of Taxpayers in Azerbaijan Up 4.8%
According to the State Tax Service, as of August 1, 2026, Azerbaijan had 1,715,746 registered taxpayers, up 4.8% year-on-year.
Armenia plans to recover $2 billion in illegally obtained assets by 2031
Prime Minister Nikol Pashinyan announced the government's intention to return about $2 billion in illegally acquired assets to the state budget between 2026 and 2031.
MIDA to Sell 535 Subsidized Apartments in Three Azerbaijani Cities
The State Housing Development Agency (MIDA) will sell 535 subsidized apartments in Lankaran, Shirvan, and Yevlakh on September 4.
Bir Ecosystem Holds Digital Literacy Session for Seniors
Bir Ecosystem organized a session on user experience and digital literacy for people over 60, in line with WHO's 'age-friendly' concept.
Nar to Reward Applicants with High Scores on University Entrance Exams
Mobile operator Nar will award modern smartphones, special numbers, and bonus balance to applicants who achieve the highest results on state university entrance exams.
Black Sea Energy Project Moves to Development Phase
GECO Power and CESI discussed key steps to transition the Black Sea green energy corridor project from feasibility study to development stage.
16 Residential Buildings with 518 Apartments to Be Built in Nakhchivan
Azerbaijan's State Housing Construction Agency plans to build a residential complex of 16 buildings with 518 apartments in Nakhchivan, including subsidized housing.
SOCAR cuts CO2 emissions by 1 million tons, issues $200 million green bonds
In 2025, SOCAR reduced greenhouse gas emissions by 1 million tons of CO2 equivalent and issued $200 million in green bonds for renewable energy projects.
Azerbaijan Mortgage Fund Issues Loans to 59,216 Borrowers Worth 4.3 Billion Manats
The Mortgage and Credit Guarantee Fund of Azerbaijan has issued loans totaling 4 billion 338 thousand manats to 59,216 borrowers and sold 9,657 apartments through rental.
Aliyev allocates 258 million manats for Nakhchivan development
President of Azerbaijan signed a decree allocating 258 million manats for the socio-economic development of the Nakhchivan Autonomous Republic, including energy, roads, education, and housing.
Russia begins importing gasoline from India amid fuel shortage
Russia has for the first time started importing automotive fuel from India amid a shortage caused by Ukrainian strikes on refineries. The first batch of 42,000 tonnes arrived in early August.
ADY Builds First Section of Zangezur Corridor in Nakhchivan
Azerbaijan Railways is constructing the first 7-km section from the Armenian border towards Ordubad. Earthworks completed on 6 km, rail-sleeper frames installed on 700 m.
Azeri Light Oil Price Rises to $95.57 per Barrel
The price of Azerbaijan's Azeri Light crude increased by 0.43% to $95.57 per barrel on the global market.
Manat Exchange Rates to World Currencies for August 12
The Central Bank of Azerbaijan has published official exchange rates for August 12. The dollar remained at 1.7 manats, the euro at 1.9610 manats.
President: Azerbaijan Plans Electricity Exports to Europe
President Ilham Aliyev announced plans to expand electricity exports to the European market, highlighting the country's energy security.
Aliyev: Azerbaijan Ready to Build Power Lines to Nakhchivan via Armenia
President Ilham Aliyev said the Zangezur corridor is viewed more broadly than just a transport route and presented a power line project through Armenia.
Traffic on Crimean Bridge Temporarily Suspended
On Tuesday evening, vehicle traffic across the Crimean Bridge was temporarily suspended, according to the information center.
Aliyev: Azerbaijan Has No Problems with Electricity
President Ilham Aliyev stated that Azerbaijan does not face electricity shortages, despite the regional energy crisis.
Aliyev: Goradiz-Agbend road almost ready
President Ilham Aliyev said the Goradiz-Agbend highway is nearly complete, with railway construction progressing rapidly.
Aliyev: Creation of Zangezur Corridor Was Our Initiative
President Ilham Aliyev stated that the creation of the Zangezur Corridor was Baku's initiative, and the country has already come close to achieving this goal.
CBO Raises US Budget Deficit Forecast for 2026 to $2.1 Trillion
The US Congressional Budget Office has revised its 2026 budget deficit forecast upward by $200 billion to $2.1 trillion, citing lower-than-expected tariff revenues.
EIA Forecasts Azerbaijan Oil Production at 520,000 bpd in 2027
The U.S. Energy Information Administration expects Azerbaijan's average daily oil production to reach 520,000 barrels in 2027.
Ilham Aliyev Reviews Nakhchivan Development Master Plan until 2044
President Ilham Aliyev and First Lady Mehriban Aliyeva reviewed the Nakhchivan city development master plan until 2044, which envisions increasing the population to 130,000 and expanding green zones.
US: Oil Exports via Strait of Hormuz Reach Nearly 9 Million bpd
US Energy Secretary Chris Wright said that nearly 9 million barrels of oil per day were transported through the Strait of Hormuz over the past week, with total supplies including pipelines reaching about 15 million bpd.
Groundbreaking Ceremony for 307-Bed Hotel Complex Held in Nakhchivan
President Ilham Aliyev and First Lady Mehriban Aliyeva attended the groundbreaking ceremony of the Nakhchivan Hotel Complex, designed to accommodate 307 guests.
VTB (Azerbaijan) Cuts Non-Interest Expenses
VTB (Azerbaijan) became the only bank to significantly reduce non-interest expenses, while most banks increased costs.
Azerbaijan Returns 20 Million Manats in VAT for Cashless Real Estate Purchases
In January-July of this year, Azerbaijan returned 20 million 16.3 thousand manats in VAT to individuals for cashless real estate purchases.
Foundation Laid for New Industrial Park in Nakhchivan
President Ilham Aliyev and First Lady Mehriban Aliyeva attended the groundbreaking ceremony for the Nakhchivan Industrial Park, covering 310 hectares.
Traffic to Be Temporarily Restricted on Two Streets in Baku
On August 12, traffic will be restricted on streets in Baku's Binagadi and Sabunchu districts due to repair works.
Iran Sets Conditions for Reopening Strait of Hormuz
Iran has communicated to the US via intermediaries its conditions for reopening the Strait of Hormuz, including ending wars in Lebanon and Gaza and unfreezing Iranian assets.
US Energy Department Raises Brent Price Forecast for 2026 to $86.81
The US Energy Information Administration has raised its Brent oil price forecast for 2026 to $86.81 per barrel amid the renewed blockade of the Strait of Hormuz.
Central Bank Explains July Ruble Weakness by Falling Exports and Demand from Certain Participants
The Bank of Russia linked the ruble's weakening in July to deteriorating trade conditions and unusual behavior by some market participants.
EIA Lowers Global Oil Demand Forecast for 2026, Raises 2027 Outlook
The U.S. Energy Information Administration has revised its global liquid fuels demand forecast downward for 2026 but raised it for 2027.
EIA Keeps Azerbaijan Oil Output Forecast for 2026 Unchanged
The U.S. Energy Information Administration (EIA) has maintained its forecast for Azerbaijan's oil production in 2026 at 550,000 barrels per day.
Azerbaijani President Reviews New Electric Buses and Railway Reconstruction in Nakhchivan
President Ilham Aliyev and First Lady Mehriban Aliyeva inspected new electric buses for Nakhchivan and reviewed railway infrastructure projects, including the Zangezur corridor.
Uzbekistan Tightens Measures to Stabilize Oil and Gas Market
President Shavkat Mirziyoyev has ordered increased production, reserve building, and uninterrupted supplies amid rising demand.
Azerbaijan and US Discuss Strategic Partnership
Deputy Foreign Minister Elnur Mammadov met with US Deputy Assistant Secretary Andrew Stow to discuss the implementation of the Charter on Strategic Partnership and regional issues.
ABC-Telecom Fined for Unfair Competition in Sale of HOFFMANN Heaters
ABC-Telecom, which operates the Kontakt Home retail chain, has been fined for violations in the sale of HOFFMANN oil-filled electric heaters.
Baku's First Inclusive Cafe 'Kashalata' Thrives, Providing Jobs for Youth with Disabilities
Baku's first inclusive cafe 'Kashalata' continues to operate successfully, providing jobs for 20 young people with disabilities.
Red Wings Plane Makes Emergency Landing in Yekaterinburg
A Red Wings aircraft flying from Batumi to Perm made an emergency landing at Koltsovo airport due to a technical malfunction.
AZAL Completes Assessment of Reporting Under IFRS S1 and IFRS S2 Standards
The Asian Development Bank has completed an assessment of AZAL's sustainability and climate reporting, identifying areas for improvement.
ASCO Increases Dry Cargo Shipments by 38.8% in Seven Months
In January-July 2024, ASCO's dry cargo vessels transported 1,083,130 tons of cargo, up 38.8% year-on-year.
Azerbaijan Real Estate Market: Land and New Build Prices Rise in July
In July 2024, Azerbaijan's real estate market showed mixed trends: land prices in Baku rose by 4%, new builds by 1.7%, while commercial property and garages saw price declines.
China Passenger Car Sales Drop 21% in July, Exports Surge 88%
Retail sales of passenger cars in China fell 21.1% year-on-year in July to 1.47 million units, while exports rose 88.2%.
Number of Active Taxpayers in Azerbaijan Up 3.4%
In January-July 2026, the number of active taxpayers in Azerbaijan increased by 3.4% to 888,320. The number of VAT payers and business entities also grew.
Russian airlines' passenger turnover in H1 remains at last year's level
Russian airlines' passenger turnover in the first half of the year totaled 131.59 billion passenger-km, with passenger traffic at 49.15 million people, according to Rosaviatsia.
Russia's Central Bank to Allow Bitcoin, Ethereum, and USDT in Public Trading
The Bank of Russia has included Bitcoin, Ethereum, and Tether USDT in the list of cryptocurrencies for public circulation. Non-qualified investors will be able to buy them within a limit of 300,000 rubles per year.
UKMTO Reports Incident Involving Container Ship in Gulf of Oman
The UK Maritime Trade Operations (UKMTO) reported an incident involving a container ship and military personnel in the Gulf of Oman off the coast of Pakistan.