Category: Azer News

The Central Bank of Azerbaijan has approved a new regulatory framework aimed at strengthening market risk management practices across the banking sector, Azernews reports.

According to the Central Bank, the ‘Rule on Market Risk Management in Banks’, adopted by a decision of its Board of Directors, is designed to align Azerbaijan’s banking regulations with Basel III standards while introducing unified and progressive requirements for managing market risks.

The new rule sets out comprehensive requirements for banks’ market risk management systems, including internal policies, governance mechanisms, and risk assessment procedures. It covers key areas such as the identification, measurement, monitoring, and reporting of market risks, ensuring a more structured and transparent approach across the sector.

In particular, the framework defines advanced methodologies for measuring different types of market risk, including interest rate, currency, equity, and commodity risks. It also introduces more sophisticated approaches to managing interest rate risk arising from the banking book (IRRBB), allowing banks to better assess potential vulnerabilities linked to fluctuations in market conditions.

The Central Bank noted that the implementation of the new rules will enable more accurate risk identification and measurement, while enhancing banks’ ability to respond to adverse market movements. Overall, the regulation is expected to strengthen the resilience of Azerbaijan’s banking sector and reduce potential losses stemming from market volatility.

The ‘Women Entrepreneurs in Successful Partnership’ project has been relaunched through the joint organization of the Small and Medium Business Development Agency of Azerbaijan (SMBDA), Marsol Group, and the National Association of Entrepreneurs’ Society (ICMA), Azernews reports.

An official event marking the restart of the project was held at the Baku SME House, bringing together representatives of supporting organizations and women entrepreneurs.

Speaking at the event, SMBDA Chairman Orkhan Mammadov and ICMA Chairman and founder of Marsol Group, Tural Mustafayev, highlighted ongoing measures to support the development of women’s entrepreneurship in Azerbaijan, private sector initiatives in this field, and the objectives of the project. It was noted that now in its third year, the initiative aims to increase women entrepreneurs’ economic and social participation and to expand business networking opportunities among them.

This year’s project will involve more than 100 women entrepreneurs representing various sectors. As part of the initiative, a series of training sessions, seminars, and masterclasses will be organized, along with business meetings, office and production site visits, and social activities.

During the event, promotional films about the project were screened, and the views of this year’s project partners were presented. Participating women entrepreneurs also familiarized themselves with the operations of the Baku SME House and the services it provides to business owners.

The ‘Women Entrepreneurs in Successful Partnership’ project has been implemented since 2024. This year’s partners and supporters include Kapital Bank, Malham International Hospital, Corian Baku, Atirshah Perfume, Gizli Bahçe Restaurant, and Moon Group. The project is scheduled to conclude in March this year.

Azerbaijan has mutually exempted diplomatic passport holders from visas with Somalia, Azernews reports.

President of the Republic of Azerbaijan Ilham Aliyev signed the law on approving the “Agreement between the Governments of Azerbaijan and Somalia on mutual visa exemption for diplomatic passport holders” in this regard.

Thus, the above-mentioned agreement, signed in Kampala on October 15, 2025, was approved.

Donald Trump’s special envoy Steve Witkoff reportedly held a secret meeting with Reza Pahlavi, the former crown prince of Iran and a leading opposition figure, amid ongoing mass protests across the country, Azernews reports via Axios.

The meeting, first reported by Axios journalist Barak Ravid and citing a senior U.S. official, focused primarily on the scale and trajectory of the unrest in Iran.

U.S. officials have not officially confirmed the meeting. However, it is described as the first high-level contact between the Trump administration and the Iranian opposition since protests erupted on December 28. According to the report, Pahlavi is seeking to position himself as a ‘transitional leader’ should the current political system in Iran collapse.

Witkoff previously took part in nuclear negotiations with Iran as Trump’s representative, giving the meeting added political weight amid escalating tensions.

Meanwhile, the Human Rights Activists News Agency (HRANA) reported on January 13 that the unrest has resulted in 2,571 deaths, including at least 2,400 protesters, 147 government-affiliated individuals, 12 children, and 9 bystanders. The organization also confirmed 18,434 arrests, 1,134 serious injuries, and the release of 97 forced confessions.

At least 12,000 people have reportedly been killed during the ongoing protests in Iran, the editorial board of Iran International stated, describing the events as ‘the largest massacre in Iran’s contemporary history.’ The mass killings are said to have occurred mainly over two consecutive nights, January 8 and 9.

Iranian authorities have not independently confirmed the reported number of deaths. International reactions are expected as the scope of the alleged crackdown continues to emerge.

President Donald Trump has issued a stark warning, stating that the United States would take ‘very strong action’ if Iranian authorities begin executing detained protesters. In an interview, Trump said the situation in Iran ‘is not going to end well’ and noted that Washington is awaiting official confirmation of the reported death toll.

Trump stopped short of detailing potential U.S. actions but said the ‘ultimate goal is victory,’ referencing past U.S. operations against Iran’s nuclear facilities and the removal of Venezuelan President Nicolás Maduro. He has also publicly encouraged Iranians to continue protesting, writing on Truth Social that ‘help is on the way.’

The reported meeting between Witkoff and Pahlavi underscores growing international attention on Iran’s internal crisis, as protests persist and pressure mounts on the Iranian leadership.

Apple and Google have announced a collaboration to develop the next generation of artificial intelligence infrastructure, Azernews reports.

As part of a multi-year partnership, Apple will build a new generation of its Foundation Models based on Google’s Gemini AI and cloud computing infrastructure. These models will power future Apple Intelligence features, including a more personalized Siri, expected later this year.

‘After a thorough evaluation, Apple concluded that Google’s AI technology provides the most advanced infrastructure for Apple Foundation Models. This collaboration will offer users exciting new opportunities and enable innovative services. Apple Intelligence will continue to operate both on Apple devices and Apple’s dedicated cloud infrastructure while maintaining the company’s high privacy standards,’ the two companies said in a joint statement.

Following the announcement, Alphabet, Google’s parent company, surpassed a $4 trillion market capitalization. Alphabet became the fourth company ever to reach this milestone, after Nvidia, Microsoft, and Apple. By comparison, the total market value of all companies in the S and P 500 in 2025 was about $44 trillion, highlighting the enormous influence of the ‘tech big four’ in the global market.

Experts believe this partnership could accelerate the development of a ‘universal assistant,’ combining the capabilities of Siri, Google Assistant, and other intelligent services-potentially transforming how people interact with devices and online services in the coming years.

The United States has been conducting reconnaissance operations in the direction of Iran, primarily over the Strait of Hormuz, for more than 12 hours, according to recent imagery, Azernews reports.

Such operations are part of a long-standing US military presence in the region, aimed at ensuring the free flow of oil and deterring potential threats to commercial shipping from Iran. While these patrols are routine, they continue to be a source of tension between Washington and Tehran.

This comes amid growing international scrutiny over Iran’s handling of the unrest.

“To all Iranian patriots, keep protesting,” the US President said during a speech in Michigan on Tuesday.

Trump warns of ‘very strong action’ if Iran executes protesters as more than 2,400 reported killed

Trump urged Iranians to “take over institutions” and to remember the names of “killers and abusers” – as they will “pay a very big price”.

Reviving his vow that the US would come to the rescue of Iranian civilians protesting against the government, he also pledged that “help is on the way”.

A similar pattern had been seen during the 2011 Libyan crisis, the U.S. and NATO conducted extensive aerial surveillance and no-fly zone enforcement over Libyan airspace for months, including intelligence-gathering on Gaddafi’s forces, before launching full-scale military operations. In both cases, the intelligence and reconnaissance phase preceded or accompanied broader strategic pressure, although in Libya it eventually led to direct intervention, while in the Strait of Hormuz it is mainly deterrence and monitoring as it seems for now.

Key details of the operations:

The U.S. Navy’s Fifth Fleet, headquartered in Bahrain, oversees maritime operations in the Persian Gulf, the Red Sea, and the Strait of Hormuz. Its responsibilities include surveillance, safeguarding navigational rights, and responding to regional threats.

U.S. naval vessels and reconnaissance aircraft, such as the P-8A Poseidon and MQ-4C Triton drones, routinely operate in international airspace and waters around the Strait.

Patrols have intensified following Iranian attempts to seize merchant vessels in recent years. The U.S. military presence is intended to discourage disruptions to this critical energy chokepoint.

Such activities have led to clashes in the past. In June 2019, Iranian forces shot down a U.S. RQ-4A Global Hawk surveillance drone, with both countries disputing whether it had entered Iranian airspace.

In early 2026, heightened U.S. reconnaissance activity, including drones and aerial refueling tankers, signals a sustained focus on monitoring Iranian movements amid broader regional tensions.

The U.S. maintains that these operations are conducted in accordance with international law to support regional security, while Iran often views them as provocative incursions into its territory.

In line with the bilateral agreement reached between Azerbaijan and Armenia and guided by the principles of humanism, four individuals convicted under various articles of the Criminal Code of the Republic of Azerbaijan and serving sentences in the country have been extradited to Armenia, Azernews reports.

Azernews reports that those transferred are Khachatryan Vagif Cherkezi, Sujyan Gevorg Rubenovich, Davtyan David Tigrani, and Eulcekcian Viken Abraham. The extradition is described as one of the practical outcomes of the peace process established between Azerbaijan and Armenia.

According to official information, the rights of the extradited individuals were fully ensured during their detention in Azerbaijan. Their health status and detention conditions complied with international standards. Prior to the transfer, all four underwent medical examinations, which confirmed that their health conditions were satisfactory.

The court’s decision sentenced each convicted individual to 15 years in prison.

It was also noted that Vagif Khachatryan, whose health condition had previously raised concerns, received all necessary medical assistance and remained under continuous medical supervision until his extradition.

The interview phase of the Volunteer Program, being implemented as part of preparations for the 13th session of the World Urban Forum (WUF13), has officially begun, Azernews reports.

According to information, around 10,000 candidates who successfully passed the initial screening will be invited for interviews from among about 16,000 applicants. It was noted that about 1,500 applications were submitted by foreign nationals.

The interview stage is considered a key step in forming a professional, responsible, and highly motivated volunteer team for WUF13. Its main objective is to assess candidates’ knowledge and skills, communication and teamwork abilities, as well as their motivation. Interviews will be conducted in stages, with the selection process carried out in line with the principles of transparency, objectivity, and fairness.

Candidates who successfully complete the interview stage will be enrolled in a training program scheduled for January-April 2026. The program has been designed around three main areas: general orientation, task allocation, and venue-specific preparation. These trainings will enable volunteers to perform their duties effectively and professionally during the Forum. A total of 2,500 volunteers who successfully complete the training program will be engaged across various areas of the Forum.

During WUF13, volunteers will be involved in welcoming and registering participants, providing information services, supporting organisational activities in session and exhibition areas, coordinating cultural programs, and assisting in other key areas.

The Volunteer Program will make a significant contribution to the development of young people’s knowledge and skills, provide international experience, and expand opportunities for cooperation in a multicultural environment.

It should be recalled that the 13th session of the World Urban Forum will be held from May 17 to 22 this year at the Baku Olympic Stadium. WUF13 is an open international platform, and participation in the Forum is free of charge. Registration for WUF13 has been open since September of last year via the official website of the United Nations Human Settlements Programme (UN-Habitat).

The US Energy Information Administration (EIA), operating under the Department of Energy, has released its latest forecast for Azerbaijan’s average daily oil and other liquid hydrocarbon production through 2027, Azernews reports.

According to the EIA’s monthly report, Azerbaijan’s average daily production of oil and other liquid hydrocarbons is expected to stand at 540 thousand barrels in 2027, reflecting a stabilization at a lower level compared to previous years.

The report notes that in 2025, Azerbaijan’s daily production amounted to 570 thousand barrels, fully in line with earlier forecasts. For 2026, the EIA projects production to decline to 540 thousand barrels per day, a forecast that remains unchanged from previous assessments.

Looking back, the EIA estimates that Azerbaijan’s daily oil and other liquid hydrocarbon production in 2024 stood at 600 thousand barrels, indicating a gradual downward trend over the medium term.

According to the EIA’s monthly report:

2027 production is expected to average 540 thousand barrels per day.

In 2026, production is also forecast at 540 thousand barrels per day, unchanged from previous estimates.

In 2025, Azerbaijan produced 570 thousand barrels per day, in line with earlier forecasts.

In 2024, the country’s average daily output was 600 thousand barrels per day.

Adding longer-term context based on EIA historical data:

In 2023, Azerbaijan’s daily oil and other liquid hydrocarbon production was about 620 thousand barrels per day.

In 2022, the figure stood at roughly 670 thousand barrels per day.

The data indicate a steady downward trend in average daily production since 2022, reflecting mature field declines and structural changes in Azerbaijan’s hydrocarbon sector, even as the country balances traditional energy output with diversification efforts.

Armenian Prime Minister Nikol Pashinyan emphasized the importance of recognizing territorial integrity, inviolability of borders, and sovereignty as essential for resolving regional conflicts, during his speech on January 14 at the IACHR Security Forum titled ‘Armenia and Peace at the Crossroads of Risks and Opportunities’, Azernews reports.

Referring to the document adopted in Prague on October 6, 2022, in which Armenia recognized the territorial integrity of Azerbaijan, including Garabagh, Pashinyan noted: ‘If we had not made those decisions, I won’t even try to describe what would have happened in our region as a whole, let alone in the Republic of Armenia, as of January 14, 2026.’

He highlighted the progress toward stability, noting that the Armenia-Azerbaijan issue is gradually turning into a framework of security, cooperation, and predictability: ‘This is a very big achievement. Today we have reached the point where the open questions related to the TRIPP project, which existed after the adoption of the declaration, have received answers.

We must have a resolution that fully satisfies and should satisfy Armenia, naturally fully satisfies the United States, fully satisfies, in my opinion, Azerbaijan. This gives a green light to the work of establishing long-term and stable peace in the region.’

Pashinyan also acknowledged the role of U.S. President Donald Trump, stressing that his personal interest and involvement had decisive significance in achieving these outcomes. ‘Now we need to think about further steps,’ he added, signaling continued efforts toward strengthening regional stability and cooperation.