Economy

Sharjah-Baku-Sharjah flight launched

17.03.2017 | Readed: 54

Air Arabia, the first and largest low-cost carrier across the Middle East and North Africa, has launched Sharjah-Baku-Sharjah flight. The flight will be carried out four times per......

Azerbaijan’s efforts to improve water industry hailed

16.03.2017 | Readed: 65

President of the World Water Council Benedito Braga has hailed Azerbaijan’s efforts to improve the water industry. Azerbaijan`s attention to the industry should be an example to other countries, he told "Water resources, hydro-technical installations......

Azeri Light crude sells for $52.98

13.03.2017 | Readed: 70

Azeri Light crude oil price has fallen on the world markets.

The price of a barrel of Azeri Light crude oil decreased $0.09 to stand at $52.98

AZERTAC

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Azerbaijan considers EITI Board’s decision as unfair

11.03.2017 | Readed: 116

“We strongly believe that as a result of significant changes made to the current regulations Azerbaijan was able to accomplish the implementation of all corrective actions. We consider Board’s decision on suspension of Azerbaijan as an unfair one.......

Azerbaijan to export hazelnuts to Spain

03.03.2017 | Readed: 274

Azerbaijan will export hazelnuts to Spain. According to Azerbaijan Export and Investments Promotion Foundation (AZPROMO), the issue of the export of 128 tons of......

SOCAR, Itochu Oil Exploration Co., Ltd. sign MoU

23.02.2017 | Readed: 428

The State Oil Company of the Azerbaijan Republic (SOCAR) and Japan’s Itochu Oil Exploration Co., Ltd. have today inked a Memorandum of Understanding on scientific and technical cooperation. Prior to the signing ceremony, SOCAR leadership met with a......

Azeri Light crude sells for $57.46

22.02.2017 | Readed: 444

The price of a barrel of Azeri Light crude oil increased $0.75 to stand at $57.46 on the world markets. On NYMEX (New York Mercantile Exchange) cost of the US light crude oil rose $0.25 to trade at $53.65. Price of the Brent crude oil at the London ICE......

Azerbaijan, Denmark ink convention on avoidance of double taxation

18.02.2017 | Readed: 815

Azerbaijan and Denmark have signed the convention on avoidance of double taxation and prevention of tax evasion on income taxes. The document was signed by Azerbaijani Minister of Taxes Fazil......

AZALJET launches new flights from Moscow to Azerbaijan's regions

17.02.2017 | Readed: 788

AZALJET (low-cost brand of Azerbaijan Airlines) will launch regular flights from Moscow Vnukovo Airport to Azerbaijani regions - Ganja and Gabala starting March 15. Moscow-Ganja flights will be......

Oil prices rise on world markets

11.02.2017 | Readed: 817

Oil prices continue to rise on the world markets. On NYMEX (New York Mercantile Exchange) cost of the US Light crude oil increased $0.86 to stand at $53.86. Price of the Brent crude oil at the......

EIA raises Brent price forecast to $55 for 2017

09.02.2017 | Readed: 807

The US Energy Information Administration (EIA) raised its forecast on crude oil prices for this year in its short-term energy outlook report released Tuesday. Global benchmark Brent crude is......

Shahdeniz gas field earned SOFAZ $2.5 bn since 2007

08.02.2017 | Readed: 811

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has made a profit of 2,506,000,000 US dollars from Shahdeniz gas field project since 2007. SOFAZ earned $64 million from this gas field in the first seven months of this year. No profit has been made......

Azerbaijan ranks second among developing countries upon Inclusive Development Index

02.02.2017 | Readed: 835

Azerbaijan is ranked second among developing countries upon Inclusive Development Index (IDI). According to Inclusive Growth and Development Report of World Economic Forum held in Switzerland, Lithuania and Azerbaijan share first and second place with......

Tokyo to host seminar within GUAM-Japan cooperation

30.01.2017 | Readed: 821

A seminar on the development of tourism will be held in Tokyo from January 29 to February 4 on the sidelines of the GUAM-Japan......

OPEC and non-OPEC oil production cuts won't harm BP

27.01.2017 | Readed: 820

“The OPEC and non-OPEC oil production cuts won't harm the BP,” BP CEO Robert Dudley told reporters on Wednesday. “The OPEC output cut deal wouldn't be a problem for the BP, who has operations......

Azerbaijan plays role of most profitable and reliable logistics centre in Caspian Sea region

24.01.2017 | Readed: 819

Azerbaijan plays role of the most profitable and reliable logistical centre in the Caspian Sea region, has said former Culture and Tourism Minister of Turkey, Chief Advisor to the President Erdogan Yalchin......

Azerbaijani companies attend International Green Week 2017 fair in Berlin

23.01.2017 | Readed: 799

Some 19 Azerbaijani companies have attended the International Green Week 2017 fair of the food, agriculture and gardening industries in Berlin, Germany. Azerbaijan is represented in the event by a......

About 21 mln USD to be invested in Pirallahi Industrial Park plant

17.01.2017 | Readed: 790

In the first stage, 20.6 million USD will be invested in the Pirallahi Industrial Park’s Construction, Azerbaijani Minister of Economy Shahin Mustafayev said. The plant will be built on an area of......

President Ilham Aliyev: Azerbaijan's economic priorities for 2017

14.01.2017 | Readed: 798

The official website of the World Economic Forum has published an article by Azerbaijani President Ilham Aliyev headlined "Azerbaijan's economic priorities for......

SOCAR Polymer to be commissioned in 2018

13.01.2017 | Readed: 800

SOCAR Polymer is planned to be fully operational in......

Al Jazeera’s another report highlights tourism opportunities in Azerbaijan

12.01.2017 | Readed: 780

Al Jazeera has prepared another TV spotlight about tourism opportunities in Azerbaijan. It highlights that Azerbaijan is at crossroads of the East and the West, as well as the place of confluence of......

Passenger traffic of Heydar Aliyev International Airport reached record high in 2016

07.01.2017 | Readed: 800

Heydar Aliyev International Airport served 3.26 million passengers in 2016, which is a record in Azerbaijan's civil aviation......

Over 1.5 million Azerbaijanis travelled to Georgia in 2016

06.01.2017 | Readed: 784

A total of 1,523,075 Azerbaijani citizens travelled to Georgia in 2016, according to the Georgian National Tourism Administration. It is 129,818 persons or 9.3 per cent more than in 2015, official statistics suggests. Azerbaijan is the leader for the......

AIIB allocates $600 mln for TANAP

22.12.2016 | Readed: 812

The Asian Infrastructure Investment Bank (AIIB) has approved a $600 million loan for Trans-Anatolian Natural Gas Pipeline (TANAP), according to Beijing headquarters of the bank. AIIB Vice-President......

National low-cost carrier BUTA AIRWAYS to be established in Azerbaijan

15.12.2016 | Readed: 825

The Board of CJSC Azerbaijan Airlines (AZAL) has decided to establish Azerbaijan's own low-cost......

Azeri Light crude sells for $56.83

13.12.2016 | Readed: 816

Oil prices continue to rise on the world markets. On NYMEX (New York Mercantile Exchange) cost of the US Light crude oil increased $1.33 to stand at $52.83. Price of the Brent crude oil at the London ICE (Intercontinental......

AZAL's air ticket rates will not increase

09.12.2016 | Readed: 828

The recent increase in aviation fuel prices by the Tariff Council does not affect the current air ticket rates of Azerbaijan Airlines (AZAL) national flag carrier. Like all airlines, AZAL's air ticket prices are formed on a......

Heydar Aliyev International Airport served three million passengers during 11 months of 2016

08.12.2016 | Readed: 830

Heydar Aliyev International Airport served over 231,000 passengers in November this year, which is 23 percent higher than the same period of last year. Over 11 months of 2016 the Baku airport served......

Non-oil sector budget revenues forecast to be AZN 8.3bn in Azerbaijan`s 2017 state budget

07.12.2016 | Readed: 827

Azerbaijani Minister of Finance Samir Sharifov has said the non-oil sector revenues will account for 8.3 billion manats in the country`s 2017 state budget. This makes 51.2 per cent......

Over 2 mln tons of Azerbaijani oil exported via BTC pipeline in November

07.12.2016 | Readed: 828

2,72,571 tons of Azerbaijani oil was transported via Baku-Tbilisi-Ceyhan-BTC main export pipeline in November......

Azeri Light crude sells for $48.92

28.11.2016 | Readed: 842

The price of a barrel of Azeri Light crude oil decreased $1.25 to stand at $48.92 on the world markets.

AZERTAC

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AZAL's new campaign on flights to Tel Aviv

25.11.2016 | Readed: 851

Azerbaijan Airlines (AZAL) announced a new campaign for flights on the route from Baku to Tel Aviv. When buying from December 1 to 20, air ticket for the flights on Baku-Tel-Aviv-Baku route in the period from January 10 to......

Azeri Light crude sells for $49.69

23.11.2016 | Readed: 836

The price of a barrel of Azeri Light crude oil increased $0.05 to trade at $49.69 on the world markets. On NYMEX (New York Mercantile Exchange) cost of the US light crude oil decreased $0.21 to stand at $48.03. Price of the......

SOCAR launches 35th filling station in Romania

21.11.2016 | Readed: 863

SOCAR has opened its 2nd filling station in Ilfov, Romania. The opening ceremony was attended by SOCAR Vice-president for economic issues Suleyman Gasimov, representatives of Azerbaijani Embassy in Romania, Turkish......

Oil prices rise on world market

17.11.2016 | Readed: 822

Oil prices continue rose on the world markets. On NYMEX (New York Mercantile Exchange) cost of the US Light crude oil increased $2.49 to stand at $45.81. Price of the Brent crude oil at the London ICE (Intercontinental......

Azeri Light crude sells for $44.78

14.11.2016 | Readed: 837

Azeri Light crude oil price has fallen on the world markets.

The price of a barrel of Azeri Light crude oil decreased $1.38 to stand at $44.78

AZERTAC

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SOCAR plans to own 10% of Romanian energy market

12.11.2016 | Readed: 840

On November 9-10, Bucharest hosted the Romania Oil & Gas Conference and Exhibition 2016, organized by Petroleum Industry Review and Petroleum Club of Romania, the State Oil Company of Azerbaijan Republic (SOCAR)......

"Bank Silk Way" launches new website

10.11.2016 | Readed: 823

"Bank Silk Way" has launched a fully renewed new corporate website www.banksilkway.az. The new site, according to the bank's corporate standards, is remarkable for contemporary design, different structure and ease of use. During development of the site daily needs......

Silk Way launches charter cargo flight to Prague

04.11.2016 | Readed: 859

Azerbaijani Silk Way airline has launched the first cargo delivery by a charter flight to Prague. The company plans to carry out permanent flights for transportation of cargo to Europe, especially Czech Republic in......

Natiq Aliyev to represent Azerbaijan in OPEC and Non-OPEC countries’ summit

28.10.2016 | Readed: 857

Azerbaijani Energy Minister Natig Aliyev will attend the summit of energy ministers of OPEC and non-OPEC countries that will be held on October 29 in Vienna. As is reported, Russia, Kazakhstan, Bahrain, Bolivia, Brazil,......

Oil prices fall on world markets

27.10.2016 | Readed: 838

Oil prices fell again on the world markets. On the New York Stock Exchange NYMEX (New York Mercantile Exchange), the cost of the US Light crude oil decreased $0.78 to stand at $49.18. The price of Brent crude fell $0.81 to......

Doing Business 2017 ranks Azerbaijan among 29 countries that implemented three or more reforms

26.10.2016 | Readed: 858

Doing Business 2017 report has ranked Azerbaijan among 29 countries that implemented three or more reforms. The country`s overall standing in the report is 65. The reports says Azerbaijan facilitated international trade......


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