Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
EssilorLuxottica Bets on AI-Powered Smart Glasses as Competition Intensifies 
China Adds Domestic AI Chips to Government Procurement List as U.S. Considers Easing Nvidia Export Curbs 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
As the Black Summer megafires neared, people rallied to save wildlife and domestic animals. But it came at a real cost 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
GesiaPlatform Launches Carbon-Neutral Lifestyle App ‘Net Zero Heroes’ 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
LA fires: Fast wildfires are more destructive and harder to contain 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
China Gezhouba Group and Azerbaijan's government partner to assess utility-scale solar, wind energy, and integrated smart energy system investments, targeting a 2 GW development by 2025.
The meeting between Azeri energy minister Parviz Shahbazov and Lin Shanqing, Deputy Administrator of China’s National Energy Administration, opened discussion for the two countries’ cooperation in the field of energy.
In addition to conducting research in the renewables sector, China Gezhouba Group will also assist Azerbaijan’s energy ministry in developing and implementing an efficient legal framework for renewable energy investments. It would also help establish a target system for green energy that is based on actual capacity rather than quotas.
The 2 GW of projects are expected to be developed by 2025. The MoU is part of the memorandum of understanding between China Gezhouba Group and Azerbaijan’s Ministry of Energy signed in September 2020 to strengthen the two countries’ energy ties. Azerbaijan has signed MoUs and other deals with various foreign companies, including ACWA Power, Masdar, and BP, for renewable energy projects totaling 25 GW in the past two years.
The country’s potential for renewable energy is estimated at about 200 GW. The China Gezhouba Group Overseas Investment Co. Ltd makes investments in a variety of industries, including real estate, building, and cement.
According to recent reports, Azerbaijan is making significant progress with its renewable energy development plans. The International Renewable Energy Agency estimated that the country has the potential to generate an estimated 10 GW of solar power and 7 GW of wind energy. Azerbaijan is also in the process of setting up a state-owned renewable energy development agency which will be responsible for managing renewable energy projects across the nation.
The MoU with China Gezhouba Group marks yet another important step forward in Azerbaijan’s renewable energy ambitions and will help the country meet its clean energy targets. It is also expected to bring about considerable economic growth, job creation and improved energy security for the region.
The agreement with China Gezhouba Group highlights Azerbaijan’s commitment to progressive energy policy and its goal of becoming an important player in the global renewable energy markets.
This is a major milestone for both countries and will open up new opportunities for international collaboration in the renewables sector. It will also help to create an attractive environment for foreign investors, spur innovation and ensure sustainable development of clean energy sources in Azerbaijan in the years to come.
