Uzbekistan is taking steps to develop its capital market and increase the total volume of securities in free circulation to at least 5 percent of the country's GDP, as a part of its plan to reform its economy.

Azerbaijan's Energy Ministry and International Finance Corporation (IFC) signed a memorandum of understanding on cooperation in the use of offshore wind energy resources in order to develop the renewable energy sector in Azerbaijan.

Turkmenistan’s leader, veering from a long-standing policy of discouraging international investments, says his country needs capital inflows to realise its oil and gas potential.

Moody's took rating actions on five banks in Azerbaijan, affirming their short-term ratings and assessments.

Though officials cite their reasoning based on reducing greenhouse emissions - and Azerbaijan is a signatory to the Paris accords - a slow but gradual decline in oil and gas export revenues makes the transition a necessity.