Category: Azer News

Trkiye’s ruling Justice and Development Party (AK Party) has introduced four new amendments to a 30-article omnibus economic bill currently under deliberation in the Grand National Assembly’s Planning and Budget Commission. The legislation, which already includes a proposal to raise the minimum pension to 23,552 Turkish lira, has now been expanded to provide substantial tax incentives aimed at accelerating the country’s nuclear energy investments.

The newly added provisions are designed to reduce the financial burden on companies developing nuclear power plants by introducing a range of tax exemptions and financing advantages throughout the investment process.

Under the proposed amendments, companies that obtain a preliminary license or a full operating license to generate electricity from nuclear power plants will be exempt from paying Stamp Duty on documents prepared during the investment phase. As a result, documents related to transactions with public institutions, the procurement of goods and services, financing arrangements, and investment loans undertaken as part of nuclear power projects will no longer be subject to the tax.

The bill also introduces a temporary amendment to Trkiye’s Value Added Tax (VAT) Law, offering significant tax benefits for nuclear power plant investments carried out under an investment incentive certificate. Under the proposal, investors will be eligible to receive refunds for VAT incurred on construction work related to eligible projects through December 31, 2045, provided that the tax cannot be recovered through standard deduction mechanisms and that refund claims are submitted within the prescribed time limits.

In addition, deliveries of machinery and equipment to be used in qualifying nuclear power plant projects will be exempt from VAT until the same date. VAT paid on such deliveries that cannot otherwise be deducted will also be refundable upon the taxpayer’s request.

However, the legislation includes safeguards to prevent abuse of these incentives. If a nuclear investment project is ultimately not completed, any taxes that were exempted or refunded under the incentive program will be collected retroactively together with tax loss penalties and late payment interest.

The proposal also grants the President the authority to extend the validity of these VAT incentives until December 31, 2050, providing flexibility to continue supporting long-term nuclear investment projects.

The omnibus bill further amends Trkiye’s Corporate Tax Law to facilitate financing for nuclear energy investments. According to the proposed temporary provision, the thin capitalization ratio applied to borrowings obtained by licensed nuclear energy companies from banks and other financial institutions will be reduced from 50% to 25% through December 31, 2045.

The measure applies only to loans obtained from banks and similar credit institutions and excludes financing provided by related-party companies. The President will also have the authority to extend this financing incentive for an additional five years.

The scale of the proposed tax incentives is considerable. Using the Akkuyu Nuclear Power Plant, whose total investment value is estimated at approximately $25 billion, as a benchmark, analysts estimate that VAT exemptions and refunds alone could amount to between 125 billion and 140 billion Turkish lira over the course of the project.

When the Stamp Duty exemption and the corporate tax financing advantages are included, the total value of tax incentives for a single nuclear power plant could reach approximately 130 billion to 150 billion Turkish lira.

Assuming similar investment costs and current price levels, the cumulative tax incentives for multiple nuclear power projects could theoretically exceed 500 billion to 600 billion Turkish lira, underscoring the Turkish government’s commitment to expanding its nuclear energy capacity through extensive fiscal support.

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.

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.

In accordance with the 2026 Training Plan approved by the Minister of Defense, training flights were conducted by Aviation Units of the Azerbaijan Air Force, AzerNEWS reports.

After receiving readiness reports from the flight crews, the pilots’ theoretical knowledge of the training flight requirements and flight safety procedures was assessed.

The pilots then carried out pre-flight inspections of the aircraft.

Under the training flight plan, JF-17C (Block III), Su-25ML, and L-39 aircraft conducted daytime takeoffs and landings along designated flight routes, while also executing assigned complex piloting and combat maneuver tasks at various altitudes.

Conducted to enhance the combat readiness of military pilots, the training flights focused on the precise and safe execution of assigned tasks under various tactical conditions, as well as on improving the effective combat employment capabilities of aviation assets.

During the training flights, the military pilots demonstrated a high level of professionalism.

American payment company Stripe and private equity firm Advent International are reportedly considering a joint acquisition of PayPal in a deal valued at more than $53 billion. If completed, the merger would create the world’s largest digital payments operator, with an annual payment volume of approximately $1.9 trillion, AzerNEWS reports.

According to sources, the companies submitted a preliminary proposal earlier in July to acquire PayPal on an equal ownership basis. The offer values PayPal shares at $60.50 each, representing a 28% premium over the company’s most recent closing stock price.

Founded in the late 1990s, PayPal was one of the pioneers of the digital payments industry. However, in recent years the company has experienced slower growth and increasing competition from services such as Apple Pay, Google Pay, and other emerging fintech platforms. As a result, PayPal’s market capitalization has fallen to around $36 billion, nearly ten times lower than its peak five years ago.

Despite these challenges, PayPal still serves more than 430 million active customer accounts worldwide. For Stripe, which has traditionally focused on merchants and online businesses, acquiring PayPal would provide direct access to a massive global consumer base while significantly strengthening its position in the digital payments market.

Industry analysts believe that, if finalized, the transaction could become one of the largest deals in fintech history. The combined company would be better positioned to compete with major technology firms, accelerate innovation in digital payments, and expand its range of financial services for both businesses and consumers.

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.

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.

Three Israeli men were arrested after allegedly causing a disturbance aboard a foreign airline flight preparing to depart from Ben Gurion Airport on Friday, Israeli media reported on Friday citing police sources.

According to authorities, the passengers ignored repeated instructions from both the cabin crew and responding officers to leave the aircraft after their behavior was deemed a risk to passengers and crew.

Police said the suspects resisted removal and assaulted officers during the arrest, leaving four officers injured, with some reportedly requiring treatment for bite wounds. Local media said one of the men shouted that he hoped police would “suffer another October 7” during the confrontation.

In accordance with the 2026 Training Plan approved by the Minister of Defense, training flights were conducted by Aviation Units of the Azerbaijan Air Force, AzerNEWS reports.

After receiving readiness reports from the flight crews, the pilots’ theoretical knowledge of the training flight requirements and flight safety procedures was assessed.

The pilots then carried out pre-flight inspections of the aircraft.

Under the training flight plan, JF-17C (Block III), Su-25ML, and L-39 aircraft conducted daytime takeoffs and landings along designated flight routes, while also executing assigned complex piloting and combat maneuver tasks at various altitudes.

Conducted to enhance the combat readiness of military pilots, the training flights focused on the precise and safe execution of assigned tasks under various tactical conditions, as well as on improving the effective combat employment capabilities of aviation assets.

During the training flights, the military pilots demonstrated a high level of professionalism.