Category: Azer News

Pakistan has welcomed the creation of the World Organization for Cooperation in Artificial Intelligence (WAICO), calling the initiative an important step toward global cooperation in the field of advanced technologies, AzerNEWS reports.

Deputy Prime Minister and Foreign Minister of Pakistan Mohammad Ishaq Dar described the establishment of WAICO as an ‘excellent initiative’ during a meeting with Chinese Foreign Minister Wang Yi in Shanghai ahead of the opening of the World Artificial Intelligence Conference (WAIC).

A Pakistani delegation arrived in Shanghai to participate in the conference and sign the agreement on the establishment of WAICO. Ishaq Dar emphasized that Pakistan is proud to become one of the founding members of the organization and expressed hope that the initiative will further strengthen cooperation with China and other countries in artificial intelligence research and development.

Wang Yi noted that Pakistan’s participation in WAICO corresponds to the long-term interests of the country and its people. According to him, China is actively contributing to the creation of the organization by promoting international dialogue, practical cooperation, and the development of technological capabilities. One of WAICO’s key objectives will be to ensure that all countries, especially developing nations of the Global South, have equal opportunities to benefit from advances in artificial intelligence.

The World Artificial Intelligence Conference (WAIC) has been held annually in China since 2018 and has become one of the largest global platforms for discussing AI development. This year’s event is being held under the theme ‘Partnership in Artificial Intelligence for a Brighter Future’ and has brought together more than 1,400 participants from different countries.

The program includes over 140 forums and discussions taking place from July 17 to 20. In addition, the conference features a large-scale exhibition covering more than 100,000 square meters, where around 3,000 AI-related products and technologies from approximately 1,100 companies are being presented.

Experts note that the creation of WAICO reflects the growing importance of international cooperation in artificial intelligence, as countries seek common approaches to AI development, regulation, and the responsible use of emerging technologies.

President Donald Trump’s longtime teleprompter operator has been placed on unpaid administrative leave after federal investigators alleged he used advance knowledge of the president’s speeches to profit from prediction market bets, AzerNEWS reports via ABC News.

Gabriel Perez, who has operated Trump’s teleprompter since 2016, is under investigation by the U.S. Commodity Futures Trading Commission (CFTC) over allegations that he earned more than $100,000 by placing bets on the prediction market platform Kalshi.

Investigators believe Perez used inside knowledge of the content of more than a dozen presidential speeches to place wagers on Kalshi’s “Mentions” market, where users bet on whether specific words, phrases or topics will be mentioned during public addresses.

Sources familiar with the investigation told ABC News that Perez is currently in discussions with federal regulators to settle the allegations.

Kalshi said its internal surveillance system detected the suspicious trading activity and reported it to the CFTC.

“Our surveillance team promptly flagged and referred these trades to the CFTC, and we are cooperating and assisting regulators,” Kalshi’s head of enforcement, Bobby DeNault, said in a statement.

Following the report, White House Press Secretary Karoline Leavitt confirmed that Perez had been placed on unpaid administrative leave.

Leavitt said she discussed the matter with President Trump, who described the allegations as “a disgrace” and personally decided to place Perez on leave.

She added that she was not aware of any other White House staff members who had engaged in similar trading activity.

“The White House has strict ethics guidelines that we expect all staffers and officials to follow,” White House spokesperson Davis Ingle said in a statement provided to ABC News.

The CFTC has not publicly commented on the ongoing investigation.

Azerbaijani Foreign Minister Jeyhun Bayramov and Russian Foreign Minister Sergey Lavrov are holding talks at the Reception House of the Russian Foreign Ministry in Moscow, AzerNEWS reports.

The meeting is taking place as part of Foreign Minister Bayramov’s official visit to Russia.

The ministers are expected to discuss the current state and future prospects of Azerbaijan-Russia relations, as well as a broad range of bilateral cooperation issues. They will also exchange views on key regional and international developments that feature prominently on the current diplomatic agenda.

Following the talks, Bayramov and Lavrov are scheduled to hold a joint press conference to outline the outcomes of their discussions.

The restrictions will apply to wheat imports from both third countries and member states of the Eurasian Economic Union (EAEU), AzerNEWS reports.

However, several exceptions have been ?????????????. Wheat may still be imported by rail for licensed poultry farms, grain processing enterprises, licensed grain elevators, and JSC National Company Food Contract Corporation.

At the same time, wheat imported under these exemptions must be used exclusively for its intended purpose. It cannot be sold on Kazakhstan’s domestic market or re-exported to other countries.

The restrictions also do not apply to rail transit through Kazakhstan or to shipments moving between EAEU member states.

The measure is aimed at supporting Kazakhstan’s domestic grain market, protecting local producers, and maintaining stable prices during the new marketing season. Market participants will be closely monitoring how these temporary restrictions affect regional grain trade and export logistics over the coming months.

Recalling her participation in COP29, Brosnan highlighted that the event successfully hosted by Azerbaijan yielded good results.

Recalling her participation in COP29, Brosnan highlighted that the event successfully hosted by Azerbaijan yielded good results.

In response, the head of state highlighted that Azerbaijan had put forward several key initiatives to support the global green agenda within the framework of COP29, touching upon the projects implemented by the country in this direction.

The meeting concluded with an exchange of views on cooperation between Azerbaijan and Ireland in the sectors of education and high technologies.

The global economy of the mid-2020s has been marked by persistent volatility, geopolitical fragmentation, and shifting trade corridors. Yet, against this turbulent backdrop, Azerbaijan’s macroeconomic indicators for the first half of 2026 paint a picture of remarkable domestic stability. Recent official data released by the State Customs Committee reveals a striking development: Azerbaijan’s foreign trade surplus has surged nearly sixfold year-on-year, reaching $7.979 billion. Parallel to this commercial windfall, the Central Bank of Azerbaijan (CBA) has expanded its foreign exchange reserves from $11.1 billion to an impressive $13.1 billion. Together, these figures underscore a deliberate, highly calculated strategy of monetary insulation that virtually guarantees the absolute stability of the Azerbaijani manat (AZN) at its pegged rate of 1.70 to the US dollar for the foreseeable future.

To appreciate the scale of this economic windfall, one must look at the mechanics of the trade balance. During the first six months of 2026, Azerbaijan’s total trade turnover hovered around $24.661 million-a marginal 1.1% increase compared to the same period last year. However, the internal dynamics of this turnover shifted dramatically. Exports jumped by 26.7% to $16.320 billion, propelled heavily by a nearly threefold increase in revenues from refined petroleum products and steady natural gas deliveries to European markets. Concurrently, imports contracted sharply by 27.6%, dropping to $8.341 billion. This simultaneous expansion of outbound shipments and contraction of inbound purchases widened the trade gap in Azerbaijan’s favor, generating the historic $7.979 billion surplus.

In a standard floating exchange rate framework, such a massive trade surplus would trigger a rapid appreciation of the local currency. As foreign buyers purchase manats to settle energy contracts, the demand for AZN would skyrocket. However, Azerbaijan operates under a de facto fixed exchange rate regime, anchoring the manat firmly at 1.70 per dollar. To maintain this peg and prevent the domestic currency from becoming overvalued-which would hurt the competitiveness of the non-oil export sector-the Central Bank of Azerbaijan must step in as a market stabilizer.

The CBA does this through currency purchase interventions. By actively buying excess US dollars flooding the domestic market from energy exporters, the central bank injects manats into the system, neutralizing upward pressure on the currency. The direct byproduct of this mechanism is the rapid accumulation of national reserves. The expansion of the CBA’s foreign exchange reserves by $2 billion in a relatively short window to a historic peak of $13.1 billion is tangible proof of this sterilization policy.

For the average citizen and the foreign investor alike, this reserve accumulation is far more than a dry accounting milestone; it is an impenetrable monetary shield. International financial benchmarks dictate that a developing nation’s foreign reserves should ideally cover at least three months of imports. With Azerbaijan’s monthly import bill averaging roughly $1.4 billion, the CBA’s $13.1 billion vault holds enough liquidity to cover over nine months of imports. This represents a safety cushion three times larger than the recommended international baseline. Even in the highly improbable event of a sudden, catastrophic collapse in oil prices, the CBA possesses the unilateral firepower to defend the peg for a prolonged period without risking depletion.

Furthermore, this financial fortress dampens any speculative tendencies within the local banking sector. During previous periods of global uncertainty, dollarization-where citizens and corporations convert assets to USD out of fear of devaluation-posed a threat to liquidity. Today, because the CBA’s defensive capacity is highly visible and backed by hard cash, public confidence in the manat remains exceptionally high.

Ultimately, Azerbaijan’s current economic policy reflects a prioritized trade-off. By utilizing its surging trade surplus to build a massive sovereign reserve buffer, Baku has chosen total exchange rate predictability over exchange rate flexibility. In an era where sudden currency devaluations can instantly destabilize emerging markets, the $13.1 billion fortress at the Central Bank guarantees that the manat will remain an island of absolute calm. For the remainder of 2026, the 1.70 peg is not merely a policy target; it is an unassailable financial reality.

Recalling her participation in COP29, Brosnan highlighted that the event successfully hosted by Azerbaijan yielded good results.

Recalling her participation in COP29, Brosnan highlighted that the event successfully hosted by Azerbaijan yielded good results.

In response, the head of state highlighted that Azerbaijan had put forward several key initiatives to support the global green agenda within the framework of COP29, touching upon the projects implemented by the country in this direction.

The meeting concluded with an exchange of views on cooperation between Azerbaijan and Ireland in the sectors of education and high technologies.

The winners of the 2026 FIFA World Cup will become the first team in football history to receive a unique championship award, AzerNEWS reports.

For the first time ever, championship rings will be presented at a FIFA World Cup tournament. The tradition is well known in major American sports leagues, and its introduction at the 2026 World Cup is especially symbolic because the tournament will be hosted by the United States, Canada, and Mexico.

A limited edition of 2,026 championship rings will be produced, with each ring featuring an individual serial number as a tribute to the year of the tournament. Thirty rings will be presented to the players and coaching staff of the winning team, while the remaining 1,996 rings will be available for purchase worldwide as official FIFA-licensed memorabilia.

The design of the rings will include the image of the World Cup trophy on one side and the winning team’s emblem on the other. Each ring will be individually numbered, customized to size, and accompanied by a certificate of authenticity.

Immediately after the final whistle, the captain and head coach of the champions will receive temporary commemorative rings. The official championship rings for all 30 members of the winning team will then be specially produced, with the award ceremony taking place once they are completed.

The introduction of championship rings marks a new chapter in World Cup traditions and brings the tournament closer to the culture of American professional sports, where such awards have become symbols of legacy and victory.

In the 2026 World Cup final, Spain and Argentina will compete for the title. The decisive match will be held on July 19 at the stadium in New Jersey and will begin at 23:00 Baku time.

Participants of the “Azerbaijani Culture Summer School” project have completed their visit to the Karabakh region, where they explored key cultural, educational, and historical sites in Khankandi, AzerNEWS reports.

The initiative aims to introduce participants to Azerbaijan’s cultural heritage, post-war reconstruction efforts, and the region’s renewed role in education and development.

The project, organized on the initiative of the Azerbaijan Culture Ministry and the Azerbaijan Cultural Center named after Heydar Aliyev, operating under the Azerbaijani Embassy in Uzbekistan, included a visit to Karabakh University.

During the visit, participants learned about the university’s activities and modern educational infrastructure.

They were informed that, established by a decree of the President of Azerbaijan, Karabakh University is the first state higher education institution founded in the liberated territories.

Officials highlighted that the university’s mission is to train highly qualified specialists for the region, promote scientific research, and support Khankandi’s transformation into a major center of education and innovation.

The participants also visited Victory Park, a landmark reflecting Azerbaijan’s restoration of territorial integrity and the historic victory in the 44-day Patriotic War.

They received information about the course of the war, the liberation of Azerbaijani cities and settlements, and the restoration of national sovereignty.

The park was presented as not only a symbol of victory and remembrance but also as a representation of Khankandi’s revival, the return of peaceful life, and the extensive reconstruction projects underway across Karabakh.

The next stop of the “Azerbaijani Culture Summer School” participants will be Baku.

President of the Republic of Azerbaijan Ilham Aliyev received Sok Chea, the newly appointed Extraordinary and Plenipotentiary Ambassador of the Kingdom of Cambodia to Azerbaijan, on July 17.

The ambassador presented his credentials to the head of state.

President Ilham Aliyev held a conversation with the diplomat.

President Ilham Aliyev stated that Azerbaijan attaches great importance to bilateral relations and mutual support with Cambodia, as well as to active contacts at the level of both governments and ruling parties. Emphasizing the importance of elevating cooperation beyond the political sphere to include the economy and investment, the head of state noted that Azerbaijan and Cambodia are friendly nations.

Expressing his gratitude for the warm reception, Ambassador Sok Chea conveyed the greetings of His Majesty King Norodom Sihamoni of Cambodia and Prime Minister Hun Manet to President Ilham Aliyev.

The head of state expressed his appreciation for the greetings and asked the ambassador to convey his best regards to the King and the Prime Minister of Cambodia.

The ambassador emphasized that Cambodia highly values its friendly relations with Azerbaijan. He noted that despite the geographical distance between the two nations, Azerbaijan and Cambodia share identical positions on key global issues, including sustainable development, international peace, and stability.

Highlighting the strong potential for strengthening bilateral cooperation, the ambassador pledged to spare no effort to expand ties in trade, tourism, culture, and people-to-people contacts.

During the meeting, the sides praised the successful cooperation between Azerbaijan and Cambodia within various international organizations.

They also expressed hope that the expected visit of Cambodia’s Prime Minister to Azerbaijan will create excellent opportunities to further expand bilateral relations.