Category: Azer News

Azerbaijani athletes have achieved impressive results at Prague European Open 2025, Azernews reports.

Mehram Imamverdiyev (81 kg) won a gold medal, while Konul Aliyeva (48 kg) and Gultaj Mammadaliyeva (52 kg) secured bronze medals.

Earlier, Islam Rahimov (66 kg) won a gold medal, Nazir Talibov (66 kg) took silver, and Hseyn Allahyarov and Murad Muradli (both 60 kg) earned bronze medals.

In total, Azerbaijan achieved 2 gold, 1 silver, and 4 bronze medals, securing second place in the overall team ranking and first place in the men’s competition.

The Prague European Open 2025 is a professional judo competition, part of the European Judo Union’s continental tour.

Some 405 judokas from 35 countries participated in Prague European Open 2025.

Founded in 1972, the Azerbaijan Judo Federation actively promotes this martial art across the country. Since 2015, the Federation has been led by Rovnag Abdullayev.

The country’s modern judo history was laid by Mehman Azizov, who won a silver medal at the Old World Championship in 1998.

A year later, the winner of the World Youth Games in Moscow, Rasul Salimov, grabbed the bronze medal at the European Championship in Slovakia. Another national judoka, Elchin Ismayilov, became the European champion in 2000 in Wroclaw.

However, the achievements of Azerbaijani judo fighters did not stop there. Elnur Mammadli was named the best at the 2008 Beijing Olympics in the 73 kg division.

The list of the country’s top judo fighters includes Rustam Orujov, Irina Kindzerskaya, Mammadali Mehdiyev, Elmar Gasimov, Hidayat Heydarov, Zelym Kotsoiev, Ushangi Kokauri, and Nijat Shikhalizada.

At the Paris 2024 Summer Olympic Games, judokas Hidayat Heydarov (73 kg) and Zelym Kotsoiev (100 kg) earned gold medals for Azerbaijan.

‘Over the years, our relations have developed rapidly and across various directions. Political relations are at the highest level,’ President Ilham Aliyev said during a joint press statement with Italian President Sergio Mattarella.

The head of state emphasized that in the economic sphere, Italy is Azerbaijan’s top trading partner.

Azerbaijan’s State Oil Company (SOCAR) is advancing its energy transition strategy with a focus on geothermal energy, alongside its broader low-carbon initiatives, Azernews reports.

This was stated by Afgan Isayev, Vice President of SOCAR, during his speech at the Baku Climate Action Week (BCAW2025).

Highlighting SOCAR’s roadmap for transformation, Isayev noted that by 2035 the company aims to maintain a balanced portfolio, where low-carbon projects will stand alongside traditional high-carbon energy projects. ‘We have also rapidly developed our internal knowledge by cooperating with regional and global partners,’ he said.

According to him, SOCAR has adopted a three-phase approach – learning, development, and exploitation. As part of this strategy, the company is already working with international players: ‘Together with Light Source and BP, we are implementing 240 megawatt projects and electrifying the Sangachal terminal. We have launched three new projects with Masdar and other partners.’

Turning to geothermal prospects, Isayev underlined that the company had already conducted studies with SLB to assess the potential and is now actively seeking an experienced partner to move the initiative forward.

‘We have achieved great results in almost three years, but all this was possible thanks to cooperation. Cooperation ensures knowledge exchange and accelerates decarbonization efforts,’ he emphasized.

LG Electronics has announced the restart of the initial public offering (IPO) process for its Indian subsidiary, aiming to sell a 15 percent stake in the company on the local stock market, Azernews reports, citing Korean media.

On Tuesday, LG’s board of directors approved the sale of 101,815,859 shares, representing a 15 percent ownership in the wholly-owned Indian unit. This move is part of LG’s broader strategy to raise funds for its headquarters in South Korea by listing the subsidiary on the Indian stock exchange.

The company plans to submit the final prospectus to the Securities and Exchange Board of India (SEBI) shortly, with the IPO expected to be completed as early as October. While the exact valuation and disposal date are yet to be finalized, LG confirmed that details regarding the share price range and schedule will be disclosed following SEBI’s final approval.

The IPO process was paused for five months amid global market volatility and trade policy uncertainties triggered by tariff measures under former U.S. President Donald Trump. LG initially filed a preliminary application with SEBI in December 2024 and received conditional approval in March 2025, before putting the process on hold in April.

Local Indian media estimate the IPO’s value at around 115 billion rupees (approximately $1.3 billion). Since the offering will involve only existing shares-with no new stock issuance-the proceeds will go directly to LG Electronics, allowing the company to raise capital without incurring debt or financing costs.

According to LG Electronics’ semiannual report, its standalone cash and cash equivalents stood at 1.1 trillion won ($784.5 million) as of the end of Q2 2025. A successful IPO could more than double this cash reserve, significantly bolstering the company’s financial stability.

However, LG Electronics continues to face challenges amid declining global demand for home appliances and TVs, compounded by the effects of trade tariffs. In Q2 2025, the company reported a 4.4 percent drop in revenue and a sharp 46.6 percent decline in operating profit compared to the same period in 2024.

Market analysts, including local tracker FnGuide, predict further declines in Q3, with revenue and operating profit expected to fall by 4.1 percent and 18.4 percent, respectively, year-on-year.

To navigate these headwinds, LG launched a voluntary retirement program last month, starting with its Media Entertainment Solution division, which manages TV operations. The company is also shifting focus toward expanding high-margin businesses such as heating, ventilation, and air conditioning (HVAC), while actively exploring growth opportunities in Southeast Asia, particularly in the rapidly growing Indian market.

LG is currently the market leader in home appliances in India. Its local unit reported robust performance in the first half of 2025, generating 2.28 trillion won ($25.7 billion) in revenue and 209.7 billion won ($149.6 million) in net profit.

The President of the Republic of Italy, Sergio Mattarella, arrived in Azerbaijan on an official visit on September 30, Azernews reports.

Azernews reports that upon arrival at Heydar Aliyev International Airport, a guard of honor was lined up in his honor, with the national flags of both countries displayed.

President Mattarella was welcomed at the airport by First Deputy Prime Minister of Azerbaijan Yagub Eyyubov, Deputy Minister of Foreign Affairs Fariz Rzayev, and other senior officials.

Azerbaijan is preparing a new climate plan – its updated Nationally Determined Contribution (NDC) – which will serve as a roadmap for building the country’s future energy system, COP29 President and Special Envoy of the President of Azerbaijan on Climate Change Mukhtar Babayev said during his speech at Baku Climate Action Week (BCAW2025), Azernews reports.

According to Babayev, the new framework envisions an energy system that will be cleaner, smarter, and more resilient.

‘It outlines how we will diversify beyond oil and gas, how we will scale up renewable energy, and how we will integrate energy efficiency and innovation into our economy,’ he emphasized.

Babayev stressed that NDCs are both international commitments under the Paris Agreement and national priorities for Azerbaijan.

‘These documents are the cornerstones of the global fight against climate change. At the same time, they provide a ‘green light’ for green investments, define timelines and targets, identify national priority sectors, and demonstrate the government’s commitment to concrete action,’ he added.

The foreign ministers of Germany, France, and Poland – Johann Wadephul, Jean-Noel Barrot, and Radoslaw Sikorski – called on Russia on Monday to cease its violations of the North Atlantic Treaty Organization’s (NATO) members’ airspace, Azernews reports.

Speaking at a meeting with Ukrainian chief diplomat Andrii Sybiha amid their joint appearance at the Warsaw Security Forum, Wadephul pressed for closer defense cooperation between European countries. He also insisted that “no member state will be left alone with this threat.”

Previously, at the same event, Ukrainian President Volodymyr Zelensky proposed that his country, Poland, and their allies create a joint defense shield against Russian air threats.

On September 30, an official reception was hosted by Ilham Aliyev, President of the Republic of Azerbaijan, in honor of Sergio Mattarella, President of the Italian Republic.

Masdar, the UAE’s leading renewable energy company, plans to introduce its experience in sustainable aviation fuel (SAF) production to Azerbaijan.

Azernews reports, the announcement was made by Murad Sadiqov, Head of Masdar’s Azerbaijan office, during his speech at the Baku Climate Action Week 2025.

According to Sadiqov, Azerbaijan’s renewable energy development strategy extends beyond export-oriented projects – it is also aimed at enhancing the reliability and resilience of the national energy system.

‘Our main goal is not just to fix current gaps in the energy grid but to build a more sustainable and dependable system,’ he said, adding: ‘Unstable energy holds no value – stability is everything.’

He emphasized the importance of energy storage systems, grid balancing mechanisms, and a diversified mix of renewable sources. Sadiqov also highlighted the growing significance of offshore wind and green hydrogen, noting that Masdar is actively investing in green hydrogen production and has already launched a pilot project for sustainable aviation fuel in the UAE. The company now aims to replicate that success in Azerbaijan.

He also pointed out that the Azerbaijani government is investing heavily in modernizing the national grid. Recently, two major energy storage systems were announced to help manage energy flow and frequency, which are expected to significantly boost the grid’s stability and performance.

Sadiqov underscored that Azerbaijan’s green energy ambitions are not limited to Europe-bound exports.

‘We’ve also witnessed agreements being signed with Central Asian countries. This marks a step toward building a large, stable energy network across the region,’ he said. ‘Azerbaijan is becoming the heart of an emerging energy hub – one that will play a critical role in the energy transition not only for the Caucasus but for the entire Eurasian region.’

A one-on-one meeting between President of the Republic of Azerbaijan Ilham Aliyev and President of Italy Sergio Mattarella has kicked off in Baku, Azernews reports.