Category: Azer News

Six months after US President Donald Trump launched an aggressive trade war, the global economy has shown unexpected resilience, Azernews reports via the Economist reports. Despite rising tensions between the US and China, fears of a sharp economic downturn have not materialized, and many economic indicators remain positive.

After a spring slowdown, Goldman Sachs’ Current Activity Index shows that global growth continues at pre-trade-war levels, while JPMorgan’s global PMI reached a 14-month high in August. According to the Atlanta Federal Reserve, US GDP grew at an annualized rate of 3.9% in the third quarter of 2025, although a slowdown is expected in the fourth quarter. Only Finland among OECD countries is currently in recession, down from eight at the start of 2023, and the global growth forecast for 2025 has risen from 2.2% to 2.6%.

One factor behind this resilience is that Trump’s tariffs have been less severe than expected. While initial plans suggested an effective import tax of 28%, the current average stands at around 10%. At the same time, expansionary fiscal policies in the US continue to support domestic demand, sustaining market confidence.

Corporate earnings are also robust. Global corporate profits rose 7% year-on-year in Q2, and the MSCI ACWI stock index reached an all-time high. Cycle-oriented sectors like autos and construction equipment are outperforming, reflecting broader economic momentum.

Concerns that economic growth is overly dependent on artificial intelligence (AI) are largely overblown. While AI-related investments have contributed to growth in the US, much of this is tied to general information processing equipment and software, not AI specifically. Outside the US, IT has not emerged as a major growth driver.

The labor market remains stable. In the US, employment growth has slowed somewhat, but no significant change has been observed since the launch of ChatGPT. Elsewhere in the OECD, 37 countries added 3 million jobs in the first half of the year, consistent with pre-pandemic norms.

Consumer confidence, however, remains subdued. In the US, it has rebounded somewhat but is still below pre-pandemic levels. High global uncertainty and frequent searches for ‘tariffs’ suggest ongoing public concern. Some experts warn that stock market volatility linked to AI could further depress sentiment.

Despite these uncertainties, six months after the trade war escalation, the global economy continues to demonstrate strong resilience, defying initial expectations of a crisis.

A decision has been made regarding Yevgeniy Belousov, editor-in-chief of the Baku branch of the Rossiya Segodnya Information Agency (‘Sputnik Azerbaijan’), who was detained following operational-search measures conducted by the Ministry of Internal Affairs (MIA) at the agency’s Baku office, Azernews reports.

The Khatai District Court issued the decision.

It should be recalled that Igor Kartavikh, executive director of Sputnik Azerbaijan, who was previously detained during the same operation, has already been released.

In June of this year, the Azerbaijani MIA conducted an operation at the Baku branch of Rossiya Segodnya (‘Sputnik Azerbaijan’), resulting in the arrest of both Kartavikh and Belousov.

A new head of the State Agency for the Protection of Strategic Objects of Azerbaijan has been appointed, Azernews reports.

President of Azerbaijan Ilham Aliyev signed the relevant decree.

According to the decree, Sardar Safarov was appointed the agency’s head.

North Korea has confirmed that its latest missile test, conducted a day earlier, was a success, Azernews reports, according to a report from the state-run Korean Central News Agency (KCNA).

KCNA said two hypersonic projectiles were launched from Pyongyang’s Ryokpho District and flew northeast before accurately striking a target in North Hamgyong Province.

The missiles are reportedly part of a new weapons system that Pyongyang described as ‘important’ to its national defense.

The launch, according to the agency, was carried out as part of North Korea’s broader effort to enhance its defense capabilities and strengthen its strategic deterrence.

A round table titled ‘Economic and trade cooperation between China’s Shaanxi Province and Azerbaijan’ was held in Baku, organized by the Export and Investment Promotion Agency – AZPROMO, as part of the visit by the delegation of the Shaanxi Provincial Committee of the China Council for the Promotion of International Trade to Azerbaijan, Azernews reports.

According to AZPROMO, Tural Hajili, Deputy Executive Director of the agency, highlighted the development dynamics of Azerbaijan-China cooperation, including the growing participation of Chinese companies in investment projects across Azerbaijan. He also discussed the activities of Azerbaijan’s trade representative office and trading houses in China and presented details about the 1st Azerbaijan International Investment Forum held in September, inviting Shaanxi-based organizations and companies to take part in the next forum.

Wang Hongwei, Party Secretary of the Shaanxi Provincial Committee of the China Council for the Promotion of International Trade, commended the favorable business environment established in Azerbaijan for foreign investors and emphasized the strong potential for expanding mutual trade and investment ties between the two sides.

The event also featured presentations by Azerbaijani and Chinese companies, showcasing the economic potential of both countries. The meeting concluded with a discussion on future cooperation opportunities and an exchange of information aimed at further deepening bilateral economic relations.

The Yardimli-Deman-Arvana highway in the Yardimli district will be repaired, Azernews reports.

President Ilham Aliyev signed the relevant decree in this regard.

According to the decree, to restore the damaged section of the Yardimli-Deman-Arvana highway, which connects three settlements with a population of 2,000 people, and to construct retaining walls, the State Agency of Motor Roads of the Republic of Azerbaijan will initially be allocated 2.0 (two) million manats ($1.1 million) from the amount specified in subparagraph 1.19.21 ‘Distribution of funds allocated for state investments (investment expenditures) in the state budget of the Republic of Azerbaijan for 2025,’ approved by Decree of the President of the Republic of Azerbaijan No. 445 of January 10, 2025.

The Ministry of Finance should ensure financing in the amount specified in part 1 of this decree.

The Ministry of Economy must provide the funds necessary to continue the repair of the motorway specified in part 1 of this Decree in the draft state budget of the Republic of Azerbaijan for 2026, when allocating expenditures for state capital investments.

The Cabinet of Ministers is instructed to resolve issues arising from this decree.

Turkic states consistently support each other through bilateral platforms, and their backing of Azerbaijan’s liberated territories reflects the spirit of fraternal solidarity, Azernews reports, citing Azerbaijan’s Minister of Economy Mikayil Jabbarov, as he said during the 2nd meeting of the Ministers of Industry, Science, Technology, and Innovation of the Turkic States Organization (TSO) in Baku.

Jabbarov noted that trade turnover between the countries has continued to grow in January-September 2025.

‘Currently, a preferential trade agreement with Turkey and free trade agreements with other countries are in force. Turkic states are rich in industrial infrastructure and resources. In recent years, Azerbaijan has prioritized the development of startups and a regional innovation ecosystem. One of the priority areas of cooperation between our countries is the development of human resources and education. Strengthening knowledge and experience exchange is of key importance,’ Jabbarov said.

The Baku Music Academy’s Opera Studio has hosted the premiere of Pietro Mascagni’s one-act opera “Cavalleria Rusticana” (Rustic Chivalry), Azernews reports.

This opera, one of the most significant works of the Verismo movement, was first performed in Rome in 1890.

The production showcased both emerging talents and esteemed figures from the Azerbaijani stage, including soloists from the State Academic Opera and Ballet Theater.

The leading roles were portrayed by Aytaj Shikhalizade as Santuzza, Honored Artist Azer Zade as Turiddu, international competition winner Taleh Yahyayev as Alfio, Honored Artist Sabina Vahabzade as Lucia, and Nina Makarova as Lola.

The creative team was headed by People’s Artist of Azerbaijan Javanshir Jafarov, who served as both conductor and artistic director.

The stage direction was handled by Ludwig Baumann, with Hafiz Guliyev, an Honored Artist, as the director, Yusif Babayev, an Honored Culture Worker, as the scenographer, and Sevil Hajiyeva, also an Honored Artist, as the choirmaster.

Set in a small Sicilian village on the eve of Easter, the opera tells the story of Santuzza, who, betrayed and abandoned by her lover Turiddu, is consumed by jealousy and despair. When she learns that Turiddu has rekindled his affair with his ex-lover, Lola, in her anguish, she exposes the secret of Lola’s husband, Alfio’s infidelity.

The opera reaches its tragic conclusion with a duel between the two men, ending in Turiddu’s death.

The audience warmly embraced the performance, deeply moved by the emotionally charged vocal performances, the expressive direction, and the rich musical backdrop, which created a powerful Sicilian atmosphere.

Thanks to the heartfelt performances, evocative music, and meticulous stage design, the production left a lasting impact on the audience, offering a night filled with genuine dramatic emotions.

Pietro Mascagni (1863-1945) was an Italian composer best known for his operas. His 1890 masterpiece “Cavalleria Rusticana” caused a sensation in the opera world and played a key role in launching the Verismo movement in Italian opera.

Mascagni composed fifteen operas, an operetta, several orchestral and vocal works, as well as songs and piano music.

Throughout his lifetime, he achieved great success both as a composer and a conductor, performing his own works and those of other composers. His operas showcase a wide variety of musical styles.

The European Commission’s preliminary investigation found that Meta and TikTok violated the EU’s Digital Services Act (DSA), the commission announced in a press release on Friday, Azernews reports.

According to the EU, Meta’s Instagram and Facebook failed to provide their users with a mechanism that would flag illegal content.

Furthermore, the commission concluded that the social media apps did not offer an opportunity for users to “effectively challenge content moderation decisions.” Facebook, Instagram, and TikTok were also suspected of having placed “burdensome procedures for researchers to request access to public data.”

This, the EU said, hinders their ability to investigate potentially harmful behavior, especially regarding minors.

The tech companies can respond to the commission’s findings in writing and take steps to remedy the breaches. If the preliminary findings are confirmed, the EU could impose a fine “of up to 6% of the total worldwide annual turnover of the provider.”

The “Memorandum of Understanding on Cooperation in the Field of Statistics between the State Statistical Committee of Azerbaijan and the Statistical Agency under the President of Tajikistan” has been approved, Azernews reports.

President of Azerbaijan Ilham Aliyev signed the relevant decree.

According to the decree, subsequent to the activation of the Memorandum of Understanding (MoU), it is imperative that the State Statistics Committee of Azerbaijan facilitate the execution of its stipulations.

The Ministry of Foreign Affairs of Azerbaijan is required to formally communicate to the Government of Tajikistan that all requisite internal protocols for the Memorandum of Understanding to become operational have been duly fulfilled.