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Economical news
Bulletine Economics 

2017 August 29 ( Tuesday )  16:16:14
Print version
Русский Azərbaycan


Heydar Aliyev International Airport Switches to New Technological Solutions, According to Old Purchase Rules

Baku/29.08.17/Turan: Passenger traffic of Azerbaijan"s main air harbor - Heydar Aliyev International Airport continues to increase steadily every year. Only for the first seven months of this year the Airport served 30 percent more passengers than the same period in 2016. Thus, the Airport achieves its main goal - to become one of the main hubs in the region in the near future.

In order to freely scale up its activities and guarantee uninterrupted passenger service, Heydar Aliyev International Airport jointly with the company Amadeus presented the first fully automated solution on the cloud-based airport management system.

Baggage management system, airport operational database, flight information display system and many others are among the services provided under this cloud-based solution.

The relevant cooperation agreement was reached between President of CJSC Azerbaijan Airlines, Jahangir Askerov and Francisco Pérez-Lozao, Senior Vice President of Strategic Growth Businesses at Amadeus.

It is noteworthy that the signing of the agreement took place against the background of the logo of not AZAL, but Silk Way Group, which is the family business of the president of the state airline.

How the company Amadeus was selected by AZAL is not reported. The amount of the contract between the parties is also not disclosed. The airline has not been conducting competitive procurement for many years.

Heydar Aliyev International Airport has two passenger terminals, designed to serve 9 million passengers annually. The new airport terminal of Heydar Aliyev International Airport (Terminal 1), built in accordance with all up-to-date aviation and technological requirements, was put into operation in April 2014. Its total area is 65,000 square meters. -08D-----

So Where Are Fish Producers in Azerbaijan?

Baku / 29.08.17 / Turan: Official data on production and consumption of fish and fish products in Azerbaijan are radically different. Nevertheless, the government claims that the population consumes 7.7 kg of this product per year and this figure is growing.

In the first half of this year, the volume of industrial production of sea fish in Azerbaijan amounted to 266.8 tons, which is 58% higher than the comparable period of 2016, the State Statistics Committee reports. According to the same source, only in 2016 the population of the country consumed about 73 thousand tons of fish, 9.2% more than in the previous year. For comparison, we note that the volume of consumption of poultry meat per year is about 100 thousand tons. However, unlike the fish sector, in the broiler sector the transparency of the activities of enterprises and other economic entities is much higher. This is evidenced by the data of the State Committee for Standardization, Metrology and Patent (SCSMP). According to the data of this agency, there is not even Caspian Fish Co Azerbaijan LLC with a daily processing capacity of 300 tons in the list of companies that have a certificate of compliance with state standards.

Then expert Vahid Maharramov believes that even with these overstated indicators, Azerbaijan lags behind international norms of consumption. "According to the requirements of the World Health Organization, the annual rate of fish consumption per capita is 20 kg. According to official statistics, in Azerbaijan this index fluctuates within 7 kg, of which 2 kg is imported fish and canned fish. I believe that it is high time in Azerbaijan to start expanding aquaculture widely spread abroad. Work in this direction is not yet sufficient. For this, it is possible to use not only available natural water bodies, but also inefficiently used agricultural land," the economist told Turan IA.

According to the State Statistics Committee, for the first six months of this year, the share of companies with foreign capital in the production of frozen fish was 47% (126 tons), more than doubling. There is no other such company on the market, except for Caspian Fish Co Azerbaijan LLC, which is considered to be the property of the Minister for Emergency Situations Kemaleddin Heydarov, but he himself denies such statements. In 2016 the official volume of production of fish and fish products by this company, which has several specialized stores in Baku, amounted to about 160 tons. This is approximately three times less than in 2011. The company notes ( that it also controls two fishing enterprises in the city of Mingachevir (where the largest reservoir of Azerbaijan is located) and the Siyazan district (fish processing plant).

According to the State Customs Committee, in the first half of this year Azerbaijan exported 169.2 tons of fish. This is 6.3 tons less than in the first half of 2016. At the same time, the proceeds from the sale amounted to only $ 140 thousand, $ 11.8 thousand more than in the same period last year. In 2016, fish imports to Azerbaijan decreased from 14,831 tons to 13,794 tons.

According to the SCSMP, Korona LLC, Khazarbalig LLC, RR Food LLC, and five individuals in Sumgait and the Khachmaz and Gusar districts are officially engaged in the production of fish and fish products in Azerbaijan. ------ 08B

USD and EUR Rise

Baku / 29.08.17 / Turan: At the currency auction of the Central Bank of Azerbaijan on Tuesday, the US dollar rate slightly increased from AZN 1.7009 to AZN 1.7010.

Commercial banks buy US dollars in the range of 1.66-1.6950 manats, and sell them at 1.6980-1.71 manats.

The EUR exchange rate rose from 2.0276 manats to 2.0367 manats on August 29. In commercial banks, the euro is sold for 2.04-2.0630 manats, and bought in the range of 1.9858-2.033 manats. ------71D

Investors of Eleven Bankrupt Banks Receive 747.832 Million Manats

Baku / 29.08.17 / Turan: Depositors of 11 bankrupt banks have received 747.832 million manats from the Deposit Insurance Fund in compensation, the Fund said.

This included the following indexes: Para Bank - AZN 43 million 222 thousand (98.5% of the total amount), Zamin Bank - AZN 72 million 196 thousand (99.3%), Credo Bank - AZN 27 million 914 thousand (99.9%), Deka Bank - AZN 3,088,000 of AZN 3,127,000 (98.7%), Atra Bank - AZN 14,352,000 (98.2%), Qafqaz Inkishaf Bank - AZN 2 million 004 thousand (95.8%), Bank Standard - AZN 437,643,000 (99.2%), United Credit Bank - AZN 1 million 837 thousand (87.5%), Bank of Azerbaijan - AZN 24,191,000 (97% ), Gandja Bank - AZN 976,441 (94%), and Tekhnika Bank - AZN 120 million 400 thousand (98.2%). -------71D

Foreign currencies rates fixed by Central Bank

1 ABŞ dollarıUSD1.7009
1 AvroEUR2.0367
1 Avstraliya dollarıAUD1.3481
1 Argentina pesosuARS0.0987
1 Belarus rubluBYN0.8837
1 Braziliya rialıBRL0.5371
1 BƏƏ dirhəmiAED0.4631
1 Cənubi Afrika randıZAR0.13
100 Cənubi Korea vonuKRW0.1511
1 Çexiya kronuCZK0.078
100 Çili pesosuCLP0.2707
1 Çin yuanıCNY0.2574
1 Danimarka kronuDKK0.2738
1 Gürcü larisiGEL0.7047
1 Honq Konq dollarıHKD0.2174
1 Hindistan rupisiINR0.0266
1 İngilis funt sterlinqiGBP2.2017
100 İndoneziya rupiasıIDR0.0128
100 İran rialıIRR0.0045
1 İsveç kronuSEK0.2133
1 İsveçrə frankıCHF1.7858
1 İsrail şekeliILS0.4753
1 Kanada dollarıCAD1.36
1 Küveyt dinarıKWD5.6419
1 Qazaxıstan tengəsiKZT0.0051
1 Qırğız somuKGS0.0248
100 Livan funtuLBP0.1123
1 Malayziya rinqqitiMYR0.3985
1 Meksika pesosuMXN0.0948
1 Moldova leyiMDL0.0953
1 Misir funtuEGP0.0964
1 Norveç kronuNOK0.2187
100 Özbək somuUZS0.0404
1 Polşa zlotasıPLN0.4791
1 Rusiya rubluRUB0.0291
1 Sinqapur dollarıSGD1.2559
1 Səudiyyə Ərəbistanı rialıSAR0.4535
1 SDR (BVF-nun xüsusi borcalma hüquqları)SDR2.4112
1 Türk lirəsiTRY0.4921
1 Tayvan dollarıTWD0.0564
1 Tacik somonisiTJS0.1931
1 Yeni türkmən manatıTMT0.486
1 Ukrayna qrivnasıUAH0.0666
100 Yapon yeniJPY1.5632
1 Yeni Zelandiya dollarıNZD1.2291