Category: Azer News

Chinese President Xi Jinping announced on Friday that China will offer 5,000 AI-related training and seminar opportunities to developing countries over the next five years, AzerNEWS reports, citing Xinhua.

Speaking at the opening ceremony of the 2026 World AI Conference and High-Level Meeting on Global AI Governance in Shanghai, Xi said the initiative aims to strengthen international cooperation in artificial intelligence.

He also revealed plans to establish international AI application cooperation centers in partnership with ASEAN, the League of Arab States, the African Union, the Community of Latin American and Caribbean States (CELAC), the Shanghai Cooperation Organization (SCO), and BRICS.

In addition, Xi said China will support 30 countries in using the AI-powered MAZU meteorological early warning system to improve disaster preparedness and help protect lives and property.

China will expand AI cooperation with the Association of Southeast Asian Nations, the League of Arab States, the African Union, the Community of Latin American and Caribbean States, the Shanghai Cooperation Organization and the BRICS countries, Xi said. He promised to provide access for 30 countries to a Chinese-developed AI meteorological system that provides early warning systems.

A day earlier, 29 countries including Pakistan, Russia and Kazakhstan signed an agreement with China to establish a World Artificial Intelligence Cooperation Organization. State media described it as an intergovernmental organization headquartered in Shanghai promoting global AI governance.

Azerbaijan and Uzbekistan have signed a Terms of Reference agreement to establish a joint venture for geological exploration, marking another step forward in expanding economic cooperation between the two countries, AzerNEWS reports.

The announcement was made by Azerbaijan’s Minister of Economy, Mikayil Jabbarov, in a post on the social media platform X.

Jabbarov said the agreement was signed during his working visit to Uzbekistan, where he attended the 15th meeting of the Azerbaijan-Uzbekistan Joint Intergovernmental Commission on Cooperation alongside Uzbekistan’s Minister of Investments, Industry and Trade, Laziz Kudratov.

According to the minister, the two sides discussed deepening trade and investment partnerships in line with the strategic objectives set by the leaders of both countries. Their talks also focused on creating new production and value chains linking Central Asia and the South Caucasus, strengthening transport and logistics connectivity within the framework of the Middle Corridor, and expanding bilateral investment cooperation.

At the conclusion of the meeting, the parties signed a protocol aimed at enhancing cooperation across a wide range of priority sectors, including trade, energy, transport, agriculture, food security, healthcare, and environmental protection.

In addition, AzerGold CJSC, Uzbekistan’s Uzbekgeologorazvedka JSC, and the Azerbaijan-Uzbekistan Investment Company signed a Terms of Reference agreement to establish a trilateral joint venture that will carry out geological exploration projects.

Kuwait’s Ministry of Electricity, Water and Renewable Energy shared in a statement on Friday that the latest Iranian strike targeted a power and water desalination plant, AzerNEWS reports.

The ministry detailed that the attack caused a fire, with numerous electricity generation units damaged. Fire brigades were sent to the scene, managing to control and extinguish the fire, with the ministry currently assessing the full extent of the damage.

The ministry further mentioned that technical teams are doing everything in their power to “maintain stability of the main system and ensure continuity of services.”

Iranian armed forces said they conducted another “destructive” drone attack against US forces in Kuwait, hitting support facilities and logistical support centers in response to Washington’s attacks.

The US and Iran traded strikes throughout the night and early on Friday, as the security situation in the Middle East worsened.

Earlier, the US Central Command (CENTCOM) completed the latest round of strikes, focusing on Iranian logistics, air defenses, and maritime forces.

Azerbaijani FIFA referee Elchin Masiyev has been appointed to officiate a UEFA Champions League match, AzerNEWS reports.

Elchin Masiyev will take charge of the second-leg match in the second qualifying round between Serbia’s Crvena Zvezda and Northern Ireland’s Larne.

He will be assisted by assistant referees Elshad Abdullayev and Parvin Talibov, while Aliyar Aghayev will serve as the fourth official.

The VAR referee will be Clay Ruperti from the Netherlands, with Nijat Ismayilli acting as the VAR assistant.

The match will be played on July 29 at the Rajko Mitic Stadium in Belgrade and will kick off at 22:00 (Baku time).

The UEFA Champions League is a continental tournament that brings together the best teams from Europe’s top domestic leagues.

It is widely regarded as the pinnacle of club football, attracting millions of fans worldwide.

Clubs from UEFA’s member countries compete for the title, which is seen as the ultimate achievement for European club teams.

The 2026/27 UEFA Champions League is actively underway, having kicked off its qualifying rounds in July 2026.

The tournament will feature 36 teams in the league phase, culminating in the final at the Estadio Metropolitanoin Madrid, Spain, on June 5, 2027.

Azerbaijan is entering an important stage of economic transformation. For decades, the country’s economic development was closely associated with its oil and gas resources, which played a decisive role in building national wealth, modernizing infrastructure, and strengthening its position in regional and global energy markets. However, the economic priorities of Azerbaijan are now evolving. The country is moving toward a more diversified economic structure, where energy remains a strategic advantage but is complemented by new growth sectors such as renewable energy, logistics, technology, agriculture, tourism, and manufacturing.

Recent economic indicators demonstrate the strength and resilience of the Azerbaijani economy. According to official economic data, total investment in Azerbaijan’s economy during January-June 2026 reached 9.295 billion manats ($5.47 billion), representing a 13.8% increase compared with the same period of 2025. This growth demonstrates continued confidence in the country’s economic potential and highlights Azerbaijan’s ability to attract capital even in a competitive global investment environment.

One of the most important trends is the country’s ongoing economic diversification. While oil and gas remain important pillars of Azerbaijan’s economy, the government has increasingly focused on developing non-energy sectors. During the first half of 2026, investments in the non-oil sector amounted to 6.132 billion manats (approximately US$3.61 billion). Although this represented a temporary decline of 5.5% compared with the previous year, the non-oil sector remains the main engine of future economic growth.

For international investors, this transition creates significant opportunities. Countries that successfully diversify their economies often become more resilient, competitive, and attractive destinations for foreign capital. Azerbaijan’s strategy is not simply to increase production but to build a broader economic ecosystem where international companies can participate in new industries.

A key advantage of Azerbaijan is its strong financial position. The country has accumulated substantial strategic reserves, which reached 85.769 billion US dollars by July 2026. These reserves increased by 10.4% compared with the previous year and provide Azerbaijan with a powerful financial foundation.

Large foreign currency reserves reduce economic risks, support currency stability, and allow the government to continue investing in infrastructure and development projects. For investors, macroeconomic stability is one of the most important factors when choosing a destination. Countries with strong reserves and responsible fiscal management are better positioned to withstand global crises and protect long-term investments.

At the 5th Tashkent International Investment Forum, Azerbaijani Prime Minister Ali Asadov stated that more than US$350 billion has been invested in the country’s economy over the past two decades, with approximately half of that amount coming from foreign investors.

Speaking at the forum, Ali Asadov highlighted Azerbaijan’s long-term commitment to creating a favorable investment environment. “In the context of today’s discussions, I would like to share Azerbaijan’s experience in attracting investment, developing the private sector, and improving the investment climate,” he said.

Ali Asadov also emphasized that Azerbaijan has consistently pursued a policy of economic openness while actively encouraging entrepreneurship and private sector development, positioning the country as an attractive destination for both domestic and international investment.

Azerbaijan’s economic future depends increasingly on sectors beyond hydrocarbons. The country has significant potential in renewable energy, digital transformation, transport infrastructure, agriculture, and industrial production.

Investing in Azerbaijan’s energy transition also provides access to a country with decades of experience in energy production, established infrastructure, and strong regional partnerships.

Following the restoration of its territorial integrity, Azerbaijan is executing a massive reconstruction program in the Karabakh and East Zangezur regions. Often dubbed the “Great Return,” the government has allocated billions of dollars in state funds to establish “smart cities” and green energy zones.

For foreign investors, Karabakh offers lucrative public-private partnership (PPP) and concession opportunities in infrastructure development, mineral mining, sustainable agriculture, and eco-tourism. Bilateral partnerships with companies from Trkiye, Italy and Hungary are already actively shaping the region’s economic landscape.

Azerbaijan’s economic indicators for 2026 demonstrate a country with strong financial foundations, growing investment activity, and a clear vision for economic transformation. Rising investment volumes, large strategic reserves, declining public debt, and continued GDP growth create a favorable environment for international investors.

The future of global investment will increasingly depend on countries that combine resources, strategic location, stability, and economic ambition. Azerbaijan possesses all of these characteristics.

US Vice President JD Vance has claimed that convicted sex offender Jeffrey Epstein maintained connections to senior figures within both American and Israeli intelligence agencies, while acknowledging that there is no public evidence proving the exact nature of those relationships, AzerNEWS reports.

Speaking during a three-hour appearance on The Joe Rogan Experience, Vance said Epstein had links to “the highest levels of American intelligence” as well as “the highest levels of Israeli intelligence.”

“He clearly had connections to the upper, the highest levels, of American intelligence. He clearly had connections to the highest levels of Israeli intelligence,” Vance said.

Describing himself as “one of the O.G. Epstein conspiracy theorists,” Vance said he had explored numerous theories surrounding Epstein over the years.

When podcast host Joe Rogan referred to speculation that Epstein had ties to Israel’s Mossad intelligence agency, Vance replied, “Yeah, Mossad or CIA or some other deep state.”

Vance further speculated that Epstein’s alleged Israeli connections were primarily linked to what he described as “elements of the Israeli deep state that were left of center.”

“As much as I know, Prime Minister Netanyahu, not a particularly popular person in the United States of America right now, Epstein seemed to be connected to the elements of the Israeli deep state that were left of center,” he said, adding that Epstein had “much deeper connections to the Israeli left of center than right of center.”

The vice president also addressed criticism surrounding the Trump administration’s handling of documents related to the Epstein case, acknowledging that officials mishandled public communication on the issue.

“We did mishandle it, especially the communications of it,” Vance said. “I think that we should have just dropped everything at the very beginning. We should have just done it as quickly as possible.”

He denied there had been any deliberate cover-up, attributing the controversy to poor communication and what he described as exaggerated public expectations regarding the release of the Epstein files. Vance also criticized Epstein’s 2008 plea agreement, calling it the “original sin” of the investigation.

During the interview, Vance discussed other aspects of the Epstein case, including the financier’s relationship with billionaire Les Wexner and speculation surrounding his business dealings. He also rejected claims that US President Donald Trump had been blackmailed, describing such allegations as “crazy.”

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.

Applications from the Russian technology holding VK and the national messenger Max are no longer available for download from the Google Play app store, AzerNEWS reports.

This was reported by VK, which stated that the restriction affects only new downloads. Previously installed applications will continue to operate normally and will not be subject to any functional limitations.

According to the company, Android users will still receive push notifications about new messages, events, and calls in the Max messenger and VK services. Existing users will be able to continue using the applications without interruption.

At the end of June, Apple also removed VK-related applications from the App Store. Earlier this week, the European Union included VK and the Max messenger on its sanctions list, which affected the availability of the company’s digital services on some international platforms.

VK representatives stated that they are working to maintain access to their services and provide users with alternative ways to install and update applications. The situation highlights the growing impact of international technology restrictions on the global availability of digital platforms.

The Max messenger, launched as a domestic communication platform, is part of Russia’s broader efforts to develop local alternatives to foreign digital services and strengthen technological independence.

The 2026 FIFA World Cup final between Spain and Argentina could be postponed due to air quality concerns caused by ongoing wildfires in Canada, AzerNEWS reports citing foreign media.

Smoke from the wildfires has spread to northern U.S. states, creating potentially hazardous air conditions. The polluted air is reportedly raising health concerns for players, coaching staff, and fans expected to attend the match.

Several outdoor events in Chicago have already been canceled due to the deteriorating air quality. The MLS regular-season match between Chicago Fire and Vancouver Whitecaps has also been postponed.

As forecasts suggest the smoke may not clear in the coming days, some experts believe the World Cup final, scheduled to take place in New York, could also be affected.

There is currently no official decision regarding a possible postponement of the decisive match.

However, FIFA has emergency protocols allowing changes to the tournament schedule if air pollution levels pose a health risk.

The World Cup final, hosted jointly by the United States, Canada, and Mexico, is scheduled to be played on July 19 at MetLife Stadium.

Iranian tanker docked at the strategic Kharg Island was hit on Friday by two American missiles. Bushehr Province Deputy Governor Ehsan Jahanian told the state agency IRNA that the vessel was empty at the time, AzerNEWS reports.

M/T Belma, the tanker in question sailing under the flag of Curacao, was previously targeted in order to prevent it from docking at this oil export terminal.

Jahanian also reported that the US military unleashed a new barrage across the coastal Bushehr province, home to a nuclear power plant.