Explainer: Inside the Louvre jewellery heist
The Louvre, one of the world’s most visited museums, saw its priceless 19th-century crown jewels stolen in just seven minutes....
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved a new country strategy for Azerbaijan to build a diversified, inclusive and sustainable economy.
For the next five years, the Bank will seek to help Azerbaijan harness its untapped solar and wind power potential, including by strengthening the electric grid and supporting renewable energy exports, and further enhance the country’s sustainability and climate resilience. Additionally, it will continue to focus on supporting greater economic diversification and private sector development by providing financial assistance to the non-extractive sector and SMEs, encouraging exports and strengthening regional connectivity to foster sustainable growth, the Bank’s press-release said.
According to the strategy, EBRD will channel investment and advisory support to small and medium-sized enterprises in non-oil sectors such as agribusiness, manufacturing and services, information and communication technology, and infrastructure.
It will also focus on empowering female- and youth-led enterprises, supporting innovation and expanding export capabilities through greater competitiveness, while continuing to work with government entities to strengthen corporate governance, advance reforms to state-owned enterprises and improve the overall business climate.
The EBRD will help Azerbaijan to capitalise on its geographical location between Europe and Asia as the government is pursuing a number of multimodal projects to better connect the country to international transport networks. The Bank will invest in sustainable transport networks, municipal infrastructure and digital connectivity, with a particular focus on projects linked to the Middle Corridor.
Nataly Mouravidze, the EBRD’s Head of Azerbaijan, said: “Over the course of the next five years, we will work with Azerbaijan to build a diversified, inclusive and sustainable economy that is driven by innovation and private-sector growth. By tapping into Azerbaijan’s renewables potential and enhancing its regional connectivity, we can unlock long-term opportunities for the country and its people. We already have a strong foundation to build on.”
The EBRD is the largest institutional investor in Azerbaijan. To date, the Bank has invested over €4 billion in Azerbaijan across 195 projects in sectors including renewables, connectivity and sustainable infrastructure.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
New Zealand's annual inflation accelerated in the third quarter, reaching 3.0%, which aligns with analysts' expectations and is at the upper end of the central bank's target range, according to official data released on Monday.
On Sunday, the Netherlands' Economy Minister, Vincent Karremans, stated that he expects to meet with a Chinese government official in the coming days to discuss how to resolve the standoff over Nexperia NV, a computer chip maker whose issues are threatening global automotive supply chains.
In the first nine months of this year, 10.2 billion cubic metres of gas were produced from the Azeri-Chirag-Gunashli (ACG) block in the Azerbaijani sector of the Caspian Sea, according to operational data released by the Ministry of Energy.
Apple’s latest smartphone, the iPhone Air, sold out within minutes of its launch in China on Friday, highlighting the brand’s enduring appeal among Chinese consumers despite growing competition from local Android makers.
Wall Street closed lower on Thursday as renewed concerns about regional banks and intensifying U.S.-China trade tensions weighed on investor sentiment, pulling major indexes off recent record highs.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment