Sri Lanka’s terror law could cost it a trade lifeline

Sri Lanka has spent four decades trying to rid itself of the Prevention of Terrorism Act (PTA), a law used so freely that even its authors, in the 1979 parliament, called it temporary. The Protection of the State from Terrorism Bill (PSTA), gazetted and tabled last week, is meant to replace it. Critics say it keeps much of the old machinery. That matters beyond the human-rights lobby, because the EU’s GSP+ trade concession depends on it.

The price of access

GSP+ is not a gift. It gives Sri Lankan goods duty-free entry to the EU in exchange for compliance with 27 international conventions on human rights, labour and the environment, a list that grows to 32 in 2027-28. The UN and the EU have said for years that any PTA replacement must meet those standards: narrow definitions, protection for association, assembly and expression, andWhat is wrong with the Bill

courts that can check the Executive.

A cushion under a weak sector

Apparel is the country’s biggest export, worth about $ 5 billion a year and over 40% of merchandise exports. Fabric and textiles add roughly

$ 522 million. The EU takes a little over 30% of the total; in the first half of the year Sri Lanka exported $ 705 million of apparel to the EU.

The sector can ill afford a shock. In the first half of 2026, Sri Lanka’s apparel exports to the EU fell 8% compared to 2025. By contrast the EU’s import of apparel from China grew 5% whilst Vietnam grew 9%. The writing is on the wall; Sri Lanka is losing valuable market share to Europe whilst other countries grow. Europe is a market Sri Lanka can least afford to weaken.

What is wrong with the Bill

Legal experts who have followed four attempts at PTA reform since 2018 say the text improves on earlier drafts but still falls short. Their main complaints:

Elastic definitions. “Terrorism” covers damaging public property and some forms of publishing, matters ordinary law already handles.

Proscription. The President could ban any organisation on “reasonable grounds”, with no threshold and no court involved. The PTA contains no such power.

Movement orders. These could run for 72 hours before a judge sees them.

Detention. Orders last two months and can be renewed for up to a year. Magistrates are largely expected to sign off on police requests.

Soldiers as police. The armed forces and coast guard would gain powers to stop, search, arrest and hold people for 48 hours. Unlike emergency rule, which Parliament must renew monthly, these powers would be permanent.

Where are the judges?

The common thread is the absence of judicial oversight. Nobody doubts that a State needs security powers. The question is who checks them. Ordinary law keeps a magistrate in the loop, and stakeholders have asked why this Bill does not.

The fixes are modest. Let magistrates weigh evidence before approving detention, give courts a role in proscription, and leave arrests to the Police.

The Bill had its first reading on 6 October. Under the Constitution, petitions to the Supreme Court can be filed within 14 days of a Bill reaching Parliament’s order paper, and the Court then has three weeks to rule. A debate is therefore unlikely before November. Campaigners say the Government wants the Bill passed before the Budget, which is presented on 12 November. The Court can rule on constitutionality but not on policy, so committee-stage amendments are the realistic route to change. The Government accepted several suggestions on last November’s draft, which suggests it can still be moved.

The industry’s case

JAAF does not argue that Sri Lanka should have no counter-terrorism law. Its case is simpler: a law this broad, with so little judicial oversight, puts at risk the trade access that supports hundreds of thousands of livelihoods. The current cycle of the GSP+ ends in 2027, and Sri Lanka, like any other beneficiary country needs to reapply for the new cycle of the scheme. The PSTA, in its current format, is very likely to be a roadblock in country’s application for the new cycle. The EU is a bureaucracy, and if Sri Lanka’s application for the new round of GSP+ is unsuccessful because of the PSTA, this will leave the country without its largest trade preference program. Fixing the Bill now is cheap. Fixing it afterwards will not be.

Anker SOLIX brings the next extreme with solar energy storage solutions

Anker SOLIX, the dedicated clean energy and portable power solutions brand of Anker Innovations, enters the Philippines with the ambition to make decentralized energy more economically accessible for Filipino households, targeting an approximate 3-year payback period1 for a typical residential solar storage installation. Launched through a strategic partnership between NAVCO, a leading distributor and retailer of global consumer electronics brands in the Philippines, and GoPrime, the solar energy solutions company behind GoSolar, the launch comes at an opportune time, as electricity costs in the Philippines remain among the highest in Southeast Asia, alongside continued challenges with grid reliability and unpredictable weather.

As the Philippines moves toward more decentralized energy solutions, solar paired with storage offers an alternative to relying solely on traditional backup power.

‘The Philippines is uniquely positioned for this transition to decentralized energy because the need is not only environmental-it is economic and practical. High electricity costs, grid challenges, and the country’s exposure to typhoons make energy independence increasingly relevant to everyday Filipino households,’ said Symons Xie, General Manager of Anker SOLIX .

Three new energy solutions for Filipino homes

At the center of the launch were three Anker SOLIX products designed to meet different household energy needs-from portable backup power to comprehensive home energy management.

The SOLIX XE Hybrid is a whole-home energy solution designed to provide backup power while enabling greater solar self-consumption. When paired with 8 to 10 solar panels, the system can generate an estimated 7,440 to 9,300 kWh annually based on a Manila-area benchmark of approximately 1,550 equivalent full-load hours per year. This can deliver approximately ?64,700 to ?80,900 in annual electricity offset or savings, based on an assumed electricity rate of ?14.50/kWh2.

Meanwhile, the SolarBank 4 is positioned as an accessible entry point for households looking to get started in decentralized energy. When paired with 4 panels, the SolarBank 4 can generate an estimated 3,720 kWh annually, with approximately 2,230 kWh potentially self-consumed. With six panels, the estimated annual generation rises to approximately 5,580 kWh. Depending on the household’s system configuration, this can deliver approximately ?32,300 to ?48,600 in annual electricity offset, based on the assumed electricity rate of ?14.50/kWh.

Rounding out the lineup is the S2000, designed for those looking for a more portable energy solution. Recognizing a market gap for high-quality, plug-and-play energy solutions, the S2000 is able to provide clean power in a more portable form for those who work remotely, travel or are outdoors frequently, or live in smaller homes.

NAVCO and GoPrime Partner to Build a Nationwide Energy Solutions Ecosystem

Anker SOLIX now moves to solidifying its presence in the country, with plans to expand across retail and e-commerce not just in Metro Manila but in Visayas and Mindanao, while also exploring local installment financing partnerships and actively building out its EPC installer network to strengthen local installation and service capabilities in more areas.

This will be achieved through a combination of NAVCO’s nationwide brand-building, distribution, retail, and sales capabilities together with GoSolar’s expertise in solar energy engineering, system design, installation, and technical support.

Under the partnership, NAVCO will lead product importation, distribution, brand marketing, and retail development, while GoSolar will spearhead technical solutions, installation services, and after-sales technical support for applicable home energy systems.

‘This launch is the beginning of a long-term commitment – we are here to grow with the market, expand our local presence and product portfolio, and help shape a Philippine energy future that is more resilient, more sustainable, and always on,’ shares Ryan Tan, President of the NAVCO Group.

As the brand continues to expand its presence, capabilities, and portfolio in the Philippines, it remains focused on delivering its promise of the Next Extreme in energy – extreme savings, extreme storage, extreme sustainability.

Etiqa Philippines Travel 360 goes beyond flight delays with protection for today’s travelers

Holiday travel is exciting, but even the best-planned family trip can be disrupted by a delayed flight, a cancelled booking, missing baggage, lost travel documents, or an unexpected card transaction. During peak travel periods, these inconveniences can quickly affect schedules, budgets, and family time.

That is why travel protection should be treated as an essential part of every travel checklist.

Introducing Travel 360 from Etiqa Philippines

To help travelers prepare for more than just the expected, Etiqa Philippines introduces Travel 360, a comprehensive travel insurance product designed for individuals and families. It brings together broader travel inconvenience benefits, digital capabilities, medical and emergency assistance, and lifestyle-oriented protection in one comprehensive travel solution. COVID-19 coverage is now included as part of the plan, so travelers no longer need to purchase or pay for it separately.

Travel 360 is part of Etiqa’s regional strategic initiative to bring products and capabilities across its markets, combining Etiqa’s regional expertise with local understanding to meet the evolving needs of Filipino travelers.

‘Travel should bring families closer and create lasting memories, not leave them feeling unprepared when plans change. With Travel 360, we are combining Etiqa’s understanding of Filipino families with the strength, expertise, and capabilities of our regional network. Our goal is to give travelers more confidence to enjoy the journey, knowing they have broader protection for the people and experiences that matter most.’

-Anthony Lou M. Bernabe, President and CEO, Etiqa Philippines

Travel inconvenience protection that responds to real journeys

Travel 360 expands protection for common travel inconveniences, including trip cancellation and baggage delay, as well as fraudulent card usage and loss of travel documents. These benefits help families manage the practical and financial impact of disruptions, whether they are planning winter city adventures in Japan, shopping in South Korea, European holidays, or cross-city itineraries in the USA.

It also offers automatic flight information and delay notifications via SMS, giving travelers timely updates so they can spend less time monitoring disruptions and more time focusing on what to do next. This is especially helpful for travelers coordinating children, senior parents, luggage, transfers, and hotel arrangements.

‘Humanizing insurance means creating protection around people’s real lives. Travel 360 brings this to life by making travel protection more relevant, inclusive, and reassuring for families.’

-Gladys Pascual, Head of Strategy and Transformation, Etiqa Philippines

Designed for the whole family, including senior parents

Family holidays are increasingly multi-generational, with parents, children, and grandparents traveling together to reconnect, celebrate milestones, or create new memories. Etiqa’s Travel 360 supports this reality by extending eligibility to senior travelers up to 80 years old. This broader age coverage makes travel planning more inclusive.

Lifestyle protection that travels with you

Travel 360 goes beyond traditional travel concerns by recognizing that modern travelers bring their lifestyles with them. Unique protections reflect practical concerns travelers may leave behind or carry with them, from arranging care for a pet at home to protecting golf-related plans, addressing women-specific needs, or safeguarding home contents while the family is away.

Add Etiqa Travel 360 to the family checklist

A well-prepared holiday starts with having the essentials in place before leaving home. Along with the usual travel preparations, families can consider adding protection to their travel must-haves.

A simple family travel checklist:

Passports, visas, tickets, and confirmed accommodation

Medicines, prescriptions, and essential health information

Emergency contacts, roaming access, and local payment options

Copies of important documents stored separately

Etiqa’s Travel 360 protection that covers inconveniences, emergencies, and the family’s lifestyle needs. Visit Etiqa.com.ph to find out more.

The best family holidays are remembered for shared meals, new places, and time together, not for the disruptions along the way. By combining automatic flight information and claims notifications, expanded travel inconvenience benefits, lifestyle protections, and coverage for senior travelers up to age 80, Etiqa Travel 360 helps families prepare more completely for holiday journeys around the world.

Because while no one can predict every delay or inconvenience, families can make protection part of the plan before the trip begins.

Dangote Refinery IPO draws investors from 90 countries

Dangote Petroleum Refinery and Petrochemicals has said its initial public offering has drawn subscriptions from over 90 countries, including investors in 51 of Africa’s 54 nations, as the company pitches the deal as the continent’s first truly pan-African share sale.

The refinery, Africa’s largest industrial investment, said the offer was the biggest ever launched on the Nigerian capital market on its opening day.

It added that the deal surpassed the previous African record within its first 10 days. Demand has come from retail investors, pension funds, institutional buyers, asset managers and fintech platforms, the company said.

The offer closes on October 27, and the company said no further extension is currently envisaged. It has stepped up investor education and engagement in key markets to widen participation before the deadline.

The company pointed to a sharp improvement in its finances to support the offer. For the nine months ended Sept. 30, it reported revenue of $22.5 billion and net profit of $4.7 billion. In the same period of 2025, it posted a loss of $117.2 million.

Revenue rose 144 percent from $9.2 billion a year earlier. Earnings before interest, taxes, depreciation and amortisation climbed almost ninefold to $5.5 billion from $627.6 million. Operating cash flow increased more than tenfold to $3.68 billion.

The balance sheet also shifted. The refinery moved from net debt of $1.73 billion in September 2025 to net cash of $651 million in September 2026, the company said. The figures were disclosed by the company and haven’t been independently verified.

A source close to the refinery’s management said current performance has ‘progressed significantly beyond the baseline assumptions underpinning the IPO,’ suggesting the valuation used in the offer is conservative relative to recent results. The source didn’t provide the assumptions or the valuation.

The offering has also served as a test of regional market plumbing. The company said it worked with partners in Botswana, Egypt, Ethiopia and Kenya on cross-border arrangements intended to make it easier for investors in those markets to participate.

Management sees the structure as a template for future continent-wide offerings and as evidence of deepening links among African capital markets.

Fragmented exchanges, currency controls and differing regulatory regimes have long made it difficult for investors in one African country to buy shares listed in another. The company didn’t detail how the cross-border mechanisms work or how many investors used them.

The refinery said shareholders could receive dividends linked to the U.S. dollar, subject to its dividend policy and regulatory approvals. That feature could appeal to investors in a region where local-currency volatility is a recurring concern, though the company did not indicate payout size or timing.

The managers of the refinery have repeatedly framed the sale as more than a fundraising exercise. The source said it gives Africans and global investors a chance to own part of one of the continent’s most transformative industrial assets, adding that Africans shouldn’t ‘merely consume the benefits of industrialisation’ but should own the assets behind it and share in the wealth created.

The company did not disclose how much has been raised so far, how much stock is on offer, the offer price or the split of demand between domestic and foreign investors. It also didn’t say how many of the 51 African countries were represented by institutional buyers rather than individuals.

The refinery thanked regulators, issuing houses, stockbrokers, financial institutions, fintech partners, investor associations, community leaders and the investing public for supporting the offer.

Nigeria’s Health Partnership with the United States: National Sovereignty and Domestic Financing

For more than two decades, Nigeria and the United States have worked together on major public-health challenges. Through the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR), the President’s Malaria Initiative, polio eradication, laboratory development, disease surveillance, health security and contributions through the Global Fund and Gavi, that partnership has saved lives and strengthened institutions on which millions of Nigerians depend.

Nigeria values this record of cooperation, but the next phase must serve a clear national purpose. No country of our size can indefinitely finance essential health services through external assistance. Our responsibility is to preserve the gains built with partners while expanding domestic financing, strengthening Nigerian institutions and ensuring that critical services remain available as the international financing environment changes.

A national framework for transition

That direction was established before the current bilateral arrangement. In December 2023, President Bola Ahmed Tinubu presciently launched the Nigeria Health Sector Renewal Investment Initiative and the Health Sector Renewal Compact, bringing the Federal Government, the 36 states, the Federal Capital Territory and development partners behind a common reform agenda. Through the Sector-Wide Approach, fragmentation and duplication are being reduced, while public and partner resources are, for the first time, being aligned behind one plan, one budget and one report, with clearer responsibility for results and a deliberate transition towards national ownership.

When the United States revised its global health approach in 2025 under the then new Administration of President Donald Trump, its emphasis on country ownership, country systems and government-to-government cooperation converged with reforms Nigeria had already begun. The immediate task was to protect continuity of treatment and prevent reversals in HIV, tuberculosis, malaria and other essential services while strengthening the domestic foundations on which those services must ultimately rest.

The health MoU signed by Nigeria and the United States on 19 December 2025 was negotiated within that policy framework and should be understood in that context. Covering April 2026 to December 2030, it provides a managed transition from externally financed implementation towards stronger use of Nigerian institutions, government systems and domestic resources, while preserving essential services as Nigeria assumes a larger share of their financing and management.

Financing the transition

The financing structure under the MoU makes this purpose clear. Planned United States support is nearly $2 billion over five years and declines over the period, while Nigeria plans nearly $3 billion in additional domestic health financing. Nigeria’s contribution is not transferred to the United States; it remains in Nigeria and is applied to priorities determined by Nigeria, including HIV, tuberculosis, malaria, maternal and child health, laboratories, health workers, surveillance, commodities, primary healthcare and health information systems. There is no credible path out of aid dependency that does not require Nigeria to invest more of its own resources in the health of its people.

The Federal Government had already begun to translate this commitment into the budget. The 2025 federal health budget rose by nearly 60 per cent, increasing health’s share of the national budget to 5.2 per cent from just over 3 per cent. In presenting the 2026 Appropriation Bill, President Tinubu proposed ?2.48 trillion for health and described health investment as 6 per cent of the budget net of liabilities. The 2026 Appropriation Act was subsequently signed into law with an aggregate expenditure of ?68.32 trillion. Under the MoU, however, Nigeria’s co-investment is measured by actual expenditure: at least 6 per cent of executed annual Federal and State budgets for health, not by budget announcements alone.

The MoU is broader than medicines or vaccines. It covers outbreak surveillance and response, laboratory capacity and biosafety, frontline health workers, health commodities, data systems and strategic investments in service delivery, while supporting procurement reform and increased local manufacturing. Its performance framework includes viral suppression among people living with HIV, tuberculosis outcomes, malaria deaths, maternal and child survival, immunisation, and the speed with which public-health threats are detected, reported and controlled.

Sovereignty, law and public scrutiny

Nigeria negotiated the framework through a whole-of-government process involving the ministries responsible for Health, Foreign Affairs, Finance, Budget and Economic Planning, together with relevant health agencies. The Attorney-General of the Federation reviewed and cleared it confirming that it did not undermine Nigeria’s national interest. The MoU is legally non-binding, recognises the application of Nigerian law and permits either participant to discontinue cooperation under its terms. Its implementation remains within the country’s legal and institutional authority. Any citizen, journalist, researcher or civil-society organisation wishing to examine the instrument is encouraged to request a copy formally under the Freedom of Information Act, so that public discussion proceeds from the text itself and from the commitments and safeguards it contains.

Regulatory authority and health security

NAFDAC continues to exercise its statutory responsibility for medicines, vaccines and diagnostics. The MoU refers to NAFDAC’s existing regulatory-reliance framework, under which the agency may consider assessments by recognised stringent regulatory authorities while retaining responsibility for Nigeria’s own decision. Regulatory reliance reduces unnecessary duplication and accelerates access to quality-assured products; it does not remove NAFDAC’s authority to evaluate applications, inspect products and facilities, undertake risk-based testing, release vaccine lots and conduct post-market surveillance where required.

The same principle governs cooperation involving health data and pathogens. Nigeria must be able to detect an emerging pathogen, sequence it rapidly and share scientifically useful information when that serves public health. Access requests remain subject to Nigerian law, data-protection requirements, scientific and ethical review and agreement on benefits arising from collaboration. Building domestic genomic-sequencing capacity, secure data systems and a national genomics repository strengthens sovereignty by enabling Nigeria to participate in global science from a position of competence. The bilateral MoU does not displace Nigeria’s position in the continuing multilateral negotiations on pathogen access and benefit sharing under the Pandemic Agreement.

Faith-based service delivery and accountability

The MoU also provides that, to the maximum extent permitted bylaw, approximately ten per cent of planned U.S. support is intended for eligible faith-based health providers. The provision does not designate or confer preference on any religion or denomination. At the signing, the United States Ambassador acknowledged Nigeria’s Christian and Muslim traditions, making clear that eligible providers from both could receive support. This recognises the longstanding contribution of faith-based institutions to healthcare delivery, particularly in communities where access remains limited.

Beyond financing and service continuity, the framework changes how external support is managed and accounted for. Much previous assistance was implemented through non-governmental channels that delivered important results but sometimes limited government’s direct visibility over expenditure and made integration with national systems more difficult. To the maximum extent permitted by United States law, the new arrangement moves financing towards government-to-government and on-budget mechanisms, with audits, performance reviews and tracking of co-investment. This strengthens national oversight, reduces fragmentation and makes both countries accountable for their commitments.

The measure of success

The partnership will ultimately be measured in the lives and institutions it protects. People living with HIV must continue to receive treatment; deaths from malaria and tuberculosis must fall; mothers and children must receive better care; and outbreaks must be detected and contained faster. Nigeria’s laboratories, workforce, supply chains and data systems must also become stronger as Federal and State governments assume a larger and more durable share of the cost.

By 2030, the proper measure of success will not be how much external assistance Nigeria received, but how much more capable and self-reliant our health system became while that assistance declined. Nigeria will continue to work with the United States and other partners in pursuit of shared health, security and development objectives, while strengthening the domestic foundations on which lasting progress depends. The destination is clear: a health system financed increasingly by Nigeria, governed through Nigerian institutions and able to sustain better outcomes for Nigerians.

Bangkok meetings offer economic boost

The IMF-World Bank Annual Meetings provided Thailand with an opportunity to showcase its cultural strengths, generate business activity and lay the foundations for longer-term economic gains, according to industry leaders.

Throughout the week-long gathering, international financial leaders attending the meetings at the Queen Sirikit National Convention Center experienced a blend of economic dialogue and Thai culture.

Delegates were introduced to carefully curated local cuisine highlighting regional rice varieties and locally sourced ingredients, while a welcome dinner at Government House on Oct 14 featured elaborate cultural performances. Among the highlights was a performance by Nene Royal, a young Phuket rocker who won this year’s America’s Got Talent competition.

Prime Minister Anutin Charnvirakul described her appearance as an example of “Thai youth power” showcasing the country’s creativity on the global stage.

Business leaders said the event, which concluded on Oct 18, strengthened Thailand’s image as a capable host of major international gatherings.

“The meetings showed a positive image of Thailand in the eyes of foreigners,” said Pimjai Leeissaranukul, chairwoman of the Federation of Thai Industries.

She said the country demonstrated its readiness to host world-class events, building on its experience in organising numerous international conferences and forums.

CREATIVE ECONOMY

The meetings brought together policymakers, executives, investors and representatives from 191 countries, creating an opportunity to promote Thailand’s creative economy while lifting activity across the service sector.

“Bangkok utilised the global stage to present its creative economy and rich cultural heritage,” Mrs Pimjai said.

Siam Piwat Group, a real estate and retail developer, joined the government in welcoming delegates through exhibitions showcasing Thai identity and craftsmanship, including displays inspired by the Royal Barge Procession.

According to Sangchai Theerakulwanich, strategic chairman of the Federation of Thai SMEs, the event helps to enhance Thailand’s international profile and encourages more foreign visitors to travel to the country.

“This benefit positively impacts tourism,” he said.

The meetings are expected to provide a short-term economic boost, as Mrs Pimjai said they should generate around 2 billion baht in economic value through increased spending on hotels, restaurants and transport services.

SUPPORTING INVESTMENT

Industry leaders said the meetings should support government efforts to attract foreign investment and strengthen the economy.

Mrs Pimjai said the event highlighted opportunities in targeted sectors including data centres, artificial intelligence, renewable energy, green technologies and smart electronics.

The gathering also helped deepen multilateral cooperation while drawing attention from high-value travellers and international investors, she said.

Mr Sangchai said the meetings offered Thailand an opportunity to present its economic potential to the world and could support its ambition to join the Organisation for Economic Co-operation and Development (OECD).

The government set a goal of securing OECD membership by 2028 and established a national steering committee to oversee the accession process.

To ensure lasting benefits, he urged authorities to establish a dedicated follow-up team to compile key insights from the meetings and turn them into concrete national development plans.

“The momentum should continue after the meetings,” said Mr Sangchai.

Škoda eyes Baku as a rail workshop for the Caucasus

Boarding the Baku Metro during rush hour, the scale of the challenge is obvious, having experienced it, even for an occasional commuter. In 2025, the network carried 226.8 million passengers, roughly 621,000 per day, down 1.4% from approximately 230 million in 2024. The metro operated across 27 stations and 40.7 kilometres of track, while the number of passenger carriages entering service increased by 9% to 381, according to AZCON Holding’s annual report. Train intervals were shortened by 15 seconds to just one minute and 45 seconds during peak operations. Yet the pressure on the ageing network remains considerable. Under the government’s 2025-2030 transport development programme, authorities plan to construct another 10 stations and procure 299 additional next-generation carriages, expanding capacity while gradually replacing Soviet-era rolling stock.

This week saw one of its contestants make an even bolder bid than usual. On October 12th, a group from the Czech Republic representing the Confederation of Industry and Transport, including transport minister Ivan Bednárik, visited AZCON holding in Azerbaijan. Among them were the Chairman of AZCON, Shahin Babayev, Vusal Aslanov of Baku Metro, and Rovshan Rustamov of Azerbaijan Railways. The vice-chairman of Škoda Group, Tomáš Ignacák, presented his proposals for not just trains, but a factory as well.

The plan is that of a joint venture with a local partner, developed in stages through local manufacturing and servicing, using local component producers and engineers. “Our ambition is not only to supply modern vehicles but, together with local partners, to build long-term cooperation in servicing, technology and education,” Mr Ignacák said. The long-term goal, as announced by the company, is to have a manufacturing base in Baku able to service other markets in the region.

The project is well-suited to the nature of the competition in the rail market. The sale of a train is one-time activity; maintenance over 30 years is the annuity. The ownership of spare parts, shops and expertise determines the one who gets the profit margin for the lifespan of the train, and who will depend on the supplier in the end. For Azerbaijan, a country that has invested a decade into developing its transportation industry, it seems quite attractive.

Škoda indeed has credentials to give it a shot; it has its roots from the works of engineering established by Count Waldstein in 1859 and currently has approximately 10,000 staff members spread out in plants in the Czech Republic, Finland, and Trkiye. The year 2025 saw the firm generate pound 1.45bn in revenue and pound 143m EBITDA. Both include TEMSA, the Turkish bus maker. The company is part of PPF, an investment group that originated in the Czech Republic and has pound 42.6bn in assets and 37,000 employees in 25 nations. It should not be confused with Škoda Auto, the carmaker owned by Volkswagen.

A market with a plan, and a queue

The interesting aspect of Baku is that the demand is institutionalized. There is a state program agreed upon in January 2025 detailing the expansion process where AZCON has allocated nearly $2.5 billion. In June, Baku Metro has entered into loan agreements amounting to $180 million with the Asian Infrastructure Investment Bank which shall finance works in the depots of Darnagul and Khojasan and upgrading stations. This accounts for only 7% of the total budget, but the payments are being made in batches.

However, it is also disputed. In January, representatives of Baku Metro met Stadler Rail to discuss the purchase of up to 300 coaches and new signaling, and Stadler Rail is certainly not new in Azerbaijan as since a 2019 deal, Stadler FLIRT and KISS trains have been acquired by Azerbaijan Railways. The Czech firm’s CEO Petr Novotný visited Baku in February, while negotiations with AZCON started already back in May 2025. The current fleet is being renewed on a local level as well: the current generation of trains are built in Baku in accordance with a contract with Global Transport Solutions, and this company had delivered around 150 new-generation carriages to date.

According to local sources, suppliers will be chosen taking into consideration such criteria as compliance with technical requirements, the cost of purchase, energy consumption, maintenance and operation conditions. Having a factory promise is beneficial; however, it is not sufficient in order to win the competitive bidding process. Škoda has no orders for the carriages in the state program yet.

Now, in the bigger scheme of all things, the human capital offer could carry greater weight than the actual factory itself. The offer consists of vocational training for engineers and technicians from the local community, involvement of Azerbaijani firms in the production of components and transfer of European manufacturing technologies. Azerbaijan would benefit from reduced reliance on external suppliers for maintenance, spare parts and repairs, which has historically been a drawback for importers of railway vehicles. The workshop where the major maintenance and assembly of components occurs is different from a facility specializing in welding of car bodies. It will be the type of work done in Baku that will determine the number of engineers to train.

The bottom line is that no investment amount, production capacity, or timeframe has been established. This is still an idea that has not been turned into an agreement. There is also an obvious business issue: producing several hundred metro trains is quite a small batch for European industry. This is why the regional idea plays such an important role. Baku would have to export trains to Georgia, Central Asia, and maybe beyond, and compete with other factories, such as Škoda’s plant in Trkiye and the Czech Republic. The path, however, is clear. Azerbaijan has the cash, a government intent on diversifying industry, and a strategic location coveted by many. If Škoda and a local partner can turn a presentation into a signed joint venture, Baku could acquire something durable and efficient in the long run!

Azerbaijani gymnasts win another gold at World Cup

Azerbaijani gymnasts Seljan Mahsudova and Magsud Mahsudov have snatched a gold medal in the mixed synchronized routine at the 2026 FIG Trampoline World Cup in Cottbus, Germany.

The Azerbaijani duo completed their performance with a score of 51.510 points to claim the top spot on the podium.

This marks the national team’s second gold medal at the tournament.

Earlier, Azerbaijani gymnast Seljan Mahsudova claimed a gold medal in the individual program, scoring 55.540 points.

4 Maserati cars auctioned for P7 million

The Bureau of Customs yesterday said it conducted a negotiated sale for four luxury Maserati Levante cars, with a total accepted offer of P7,055,664, as part of the BOC’s ongoing efforts to ensure the orderly, transparent and beneficial disposition of vehicles in government custody.

In a statement, the BOC said the two 2021 Maserati Levante Modena had an accepted offer of P1.594 million and P1.6 million while the two 2021 Maserati Levante GT Hybrid fetched P1.93 million each.

The BOC said the Fast Car Traders submitted the offers that were accepted in the negotiated sale. However, it clarified that the sale of the vehicles is not yet final, as the agreed prices still need to be approved by the Department of Finance before the transaction can be finalized.

Customs Commissioner Ariel Nepomuceno said the approval is important to ensure that every step in the disposition of government assets goes through the proper process to safeguard the public interest.

‘Our goal is to ensure that vehicles in the custody of the BOC are used by the government in a legal and transparent manner. It is important to follow all necessary processes and approvals to ensure that every transaction is fair and the interests of the people are protected,’ Nepomuceno said.