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Customs to shift focus from revenue to protection as Azerbaijan's economy grows

As Azerbaijan's economic development grows, the fiscal role of customs authorities in generating state budget revenues is expected to gradually decrease, Head of the State Customs Committee (SCC) Shahin Baghirov said at a meeting of the Milli Majlis Committee on Economic Policy, Industries, and Enterprising during the…

Report.az Порты и суда
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Kazakhstan Uranium Reserve Planned by End of 2027

Kazakhstan, the world’s largest uranium producer, plans to create a state strategic uranium reserve by the end of 2027 to secure fuel supplies for its future nuclear power plants. Deputy Prime Minister and National Economy Minister Serik Zhumangarin announced the deadline at a government meeting on November 3. The cou…

Times of Central Asia Железные дороги
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Kazakhstan Seeks to Reduce Dependence on Imported Medicines with New Pharmaceutical Plants

Kazakhstan plans to begin producing almost 500 types of medicine domestically by 2034 under eight investment projects worth approximately $862 million, the Health Ministry said on November 3. The projects are expected to create more than 1,200 jobs and reduce the country’s dependence on imported medicines. Production …

Times of Central Asia Железные дороги
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Uzbekistan Inflation: Consumers’ Estimates Exceed Official Rate

People in Uzbekistan believe prices have risen considerably faster than official inflation figures show, according to a survey by the Central Bank of the Republic of Uzbekistan. Respondents estimated annual price increases at 9.2% in September, compared with the official inflation rate of 6.4%. The survey covered 2,72…

Times of Central Asia Порты и суда
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China–Central Asia Flights Expand as Aviation Booms

Passenger and cargo links between Central Asia and China are expanding, with 117 scheduled weekly flights now connecting Kazakhstan and China, up 52% from a year earlier. Aviation officials from China and the five Central Asian countries are meeting in Tashkent on November 3–5 to discuss opening the market further. Tr…

Times of Central Asia Порты и суда
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Uzbekistan's Central Bank studies Azerbaijan's experience in portfolio management

A delegation from the Central Bank of Uzbekistan has paid a working visit to Baku to exchange experience with the Central Bank of Azerbaijan. According to Report , citing the Central Bank of Azerbaijan, the visit featured presentations on approaches and management practices developed in the areas of strategic manageme…

Report.az Средний коридор
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Kazakhstan’s Youth Soccer Players Hospitalized After Suspected Food Poisoning in Tashkent

Six children and two adults in a youth soccer delegation from Kazakhstan remained hospitalized in Tashkent on November 4 after a suspected food poisoning outbreak during an international tournament. Kazakhstan’s embassy in Uzbekistan said they were in stable condition and that 10 other patients had been discharged . T…

Times of Central Asia Торговля
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Kazakhstan Oil Exports: Talks With Azerbaijan on Higher BTC Shipments

Kazakhstan and Azerbaijan are discussing ways to increase shipments of Kazakh oil across the Caspian Sea and through the Baku–Tbilisi–Ceyhan (BTC) pipeline. In the first nine months of 2026, shipments from Aktau through the pipeline rose 24% year on year to 1.16 million metric tons. At a meeting in Baku on November 3,…

Times of Central Asia Средний коридор
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Documentary 'Crude & Ink: Stories Written in Oil' premieres in Baku

The documentary "Crude & Ink: Stories Written in Oil", jointly produced by SOCAR and AnewZ television channel, was premiered at the Nizami Cinema Center, Report informs referring to SOCAR. The event was attended by Leyla Aliyeva, Vice President of the Heydar Aliyev Foundation, government officials, members of the dipl…

Report.az Средний коридор
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BP announces Azerbaijan's ACG oil production figures for 2026

In the first three quarters of 2026, total production from the Azeri-Chirag-Deepwater Gunashli (ACG) block of fields in the Azerbaijani sector of the Caspian Sea was on average about 320,000 barrels per day (b/d), or about 87 million barrels or 12 million tonnes in total. Report informs that, according to the business…

Report.az Средний коридор
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Sahil Babayev: Azerbaijan aims to keep public debt-to-GDP ratio stable

Azerbaijan aims to keep its public debt-to-GDP ratio stable over the next four years, Finance Minister Sahil Babayev said at a meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship, where the 2027 state budget package was discussed. He said the public debt-to-GDP ratio is expected to …

Report.az Железные дороги
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Deputy Minister: Central Asia among priority destinations for Azerbaijan

The Central Asian region is one of Azerbaijan's priority destinations for partnership, according to Azerbaijani Deputy Minister Samad Bashirli, Report informs, citing the Ministry of Economy. Speaking at the Second Tianshan Forum on Expanding Sustainable Connectivity and Quality Investments in Central Asia, organized …

Report.az Порты и суда
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ADB to increase share of cross-border initiatives to 30% by 2030

The Asian Development Bank (ADB) has presented an updated approach to regional cooperation and integration, setting the task to increase the share of operations aimed at supporting cross-border initiatives to 30% by 2030, Report informs citing the ADB. "Intensifying trade barriers and geopolitical tensions are putting…

Report.az Порты и суда
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UEFA Champions League: Round 4 continues with nine games

The remaining matches of round 4 in the UEFA Champions League (UCL) league phase will be played today. According to Report , nine more matches are scheduled to take place during the day. As part of the round, Azerbaijan"s Sabah will play away against Viking in Norway. Türkiye's Fenerbahce will host Liverpool. At the s…

Report.az Средний коридор
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Belgrade-Moscow flight returns to airport due to security concerns

A passenger aircraft flying from Serbia's capital, Belgrade, to Moscow, the capital of Russia, was forced to turn back due to security concerns and landed at Nikola Tesla Airport. According to Report 's Balkan bureau, the Nova.rs portal announced the incident. The JU134 flight took off from Belgrade at 18:48 local tim…

Report.az Порты и суда
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UEFA Champions League: Nine matches played on Round 4 opening day

The opening day of the fourth round of the UEFA Champions League (UCL) league phase took place on November 3. According to Report , nine matches were played on the opening day of the round. As part of the round, Turkish club Galatasaray defeated Stuttgart 2-0 at home, Barcelona beat Aston Villa in Spain, while Villarr…

Report.az Порты и суда
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Asian Cup Postponement Delays Central Asian Football Hopes

Tajikistan’s football team planned to be “fully prepared” for the Asian Cup finals in Saudi Arabia in early 2027, coach Igor Angelovski of North Macedonia said months ago. But the Tajik footballers and the rest of the competition will have to wait. On Tuesday, the Asian Football Confederation (AFC) said the region’s t…

Times of Central Asia Санкции и риски
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Reuters: US billionaire leads securities swap plan to buy Lukoil's overseas assets

A consortium led by US billionaire Todd Boehly is preparing to acquire sanctioned Russian oil producer Lukoil's international assets through a securities swap, with a deal expected within weeks, Report informs, citing Reuters. A bank acting for the consortium has bought billions of dollars of frozen Lukoil securities …

Report.az Средний коридор
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Developer of Kazakhstan Tungsten Projects Drops Merger and Plans U.S. Listing

Cove Kaz, the U.S. company developing two major tungsten deposits in Kazakhstan, has dropped its planned merger with Skyline Builders. It now plans to list its shares directly on a U.S. stock exchange in the first half of 2027. The change comes alongside a $32 million investment commitment intended to fund work on the…

Times of Central Asia Средний коридор
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Pashinyan: Armenia–Azerbaijan peace opens new opportunities for South Caucasus

Peace between Armenia and Azerbaijan and closer regional cooperation are creating new opportunities for the South Caucasus, particularly in logistics and international transportation, Armenian Prime Minister Nikol Pashinyan said, Report informs. Speaking at the "Future of Europe" summit organized by Euronews in Brusse…

Report.az Средний коридор
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Azerbaijan–Italy trade grows in January–September

Trade between Azerbaijan and Italy totaled $9.1888 billion in January–September 2026, up 3.1% from the same period last year, Report informs, citing the State Customs Committee. Azerbaijan's exports to Italy rose 3% to $8.7899 billion, while imports from Italy increased 6.6% to $398.9 million. Italy accounted for 24.6…

Report.az Порты и суда
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Von der Leyen: Hormuz closure cost Europe €127B

The closure of the Strait of Hormuz has cost Europe €127 billion due to higher fossil fuel prices, Ursula von der Leyen said on Tuesday, amid fears of a re-escalation of conflict in the region, Report informs referring to Rapporteur. Speaking at an event in Brussels, the European Commission president said that the sur…

Report.az Средний коридор
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Armenia appoints military attaché to embassy in China

Armenian Prime Minister Nikol Pashinyan has appointed Amik Sayadyan as military attaché at the country"s embassy in China. According to Report , citing Armenian media, the relevant decision was published on the government"s official portal. Sayadyan has been appointed to the position for a three-year term. He is sched…

Report.az Железные дороги
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Cyberattacks on European supermarkets: What happened and who is behind them?

A new wave of cyberattacks targeting supermarket refrigeration systems has hit Europe, just weeks after a similar large-scale attack in France. According to Report 's European bureau, the incidents have affected several countries across continental Europe, as well as Ireland. Speaking at a briefing in Brussels on Nove…

Report.az Средний коридор
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SOCAR, KazMunayGas mull increasing transit of Kazakh oil through Azerbaijan

The State Oil Company of Azerbaijan (SOCAR) and Kazakhstan's KazMunayGas (KMG) have discussed increasing the volumes of Kazakh oil transported through Azerbaijan, SOCAR said in a statement, Report informs. SOCAR President Rovshan Najaf met with Chairman of the Management Board of KazMunayGas Askhat Khassenov today. Th…

Report.az Средний коридор
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Food Spending in Kazakhstan Tops Half of Consumer Budgets

Kazakhstan, Central Asia’s largest economy, ranks among the ten countries with the highest shares of consumer spending devoted to food in an international comparison. National figures show that food purchases continue to consume more than half of household consumer budgets despite rising cash incomes. According to int…

Times of Central Asia Аналитика
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Kazakhstan Signs Alatau City Agreements With $1.3 Billion Investment Potential

Kazakhstan has signed nine agreements with international partners in London to support the development of Alatau City in Almaty Region. The government estimates their combined investment potential at $1.3 billion. The agreements cover infrastructure construction and the development of education and healthcare. The agr…

Times of Central Asia Средний коридор
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ADY discusses infrastructure, fleet expansion and digital services with partners

Azerbaijan Railways (ADY) management has met with representatives of major freight customers to discuss infrastructure upgrades, fleet expansion, digital services and future cooperation, the company told Report . The meeting aimed to brief business partners on ADY's freight operations and results, hear their proposals…

Report.az Средний коридор
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Qatar says US-Iran mediation efforts 'ongoing'

Qatari Foreign Ministry spokesman Majed al-Ansari says efforts to bridge the gap between the US and Iran are ongoing with both countries studying proposals presented for a possible resolution to the conflict, Report informs referring to Al Jazeera. Al-Ansari said all GCC states agree that the US-Iran conflict must not…

Report.az Средний коридор