Economy

The Innovation Festival (InnoFest) will be held in Azerbaijan for the first time on May 29-June 4, said Tural Karimli, Director of High Technologies Park. The project will be co-organized by the Ministry of Transport, Communications and High Technologies, Ministry of Youth and Sport, Ministry of Education, Heydar Aliyev Center, …

During the first quarter of the year, Azeri-Chirag-Gunashli (ACG) continued to safely and reliably deliver stable production. Total ACG production for the first three months of 2019 was on average 571,000 barrels per day (b/d) (about 52 million barrels or 7 million tonnes in total) from the Chirag (43,000 b/d), …

In the first quarter of 2019, Shahdeniz field produced 4.3 billion standard cubic metres (bscm) of gas and about 1 million tonnes (7.5 million barrels) of condensate in total from the Shah Deniz Alpha and Shah Deniz Bravo platforms, BP Azerbaijan said. During the first quarter of the year, the …

Azerbaijan’s beekeeping farms, which did not receive subsidies in 2018, will receive them this year, Trend reports with reference to the country’s Ministry of Agriculture. “The Ministry of Agriculture held a regular meeting of the republican commission for issuing subsidies to individuals and legal entities involved in beekeeping,” a representative of the …

Azerbaijan, Russia and Turkey have signed a Memorandum of Understanding (MoU) on cooperation in the railway sector as the three countries’ officials met in Ankara. The document was inked by Chairman of Azerbaijan Railways CJSC Javid Gurbanov, Chief Executive Officer and Chairman of the Executive Board of Russian Railways JSC …

The Swiss-Azerbaijani business forum will be held on June 27 in Zurich, Swiss Confederation. The forum will be co-organized by the Ministry of Economy and Azerbaijan Export and Investment Promotion Foundation (AZPROMO).

Azerbaijan`s Agency for the Development of Small and Medium-Sized Enterprises (KOBIA) and Kazakhstan`s Damu Entrepreneurship Development Fund have signed a Memorandum of Understanding on Cooperation on the sidelines of the “Ulttyk Onim 2019″ National Goods Exhibition in Nur-Sultan, the capital of Kazakhstan. The memorandum was signed by KOBIA`s Executive Director …

“Iran jointly with Azerbaijan and Russia will establish a railroad company,” said Deputy Director of the Iranian Railway Company Babak Ahmadli. He noted that the joint venture will increase transit goods as well as accept orders of the businessmen and state-owned companies. Ahmadli underlined that the sides already reached agreement. …

Starting from May 3, the low-cost airline Buta Airways opens direct flight from Baku to the city of Kharkiv, Ukraine. The flights will be carried out twice a week on Tuesdays and Fridays. The minimum fare for Kharkiv flight costs 29 euros (one way). Air tickets can be purchased on …

“Today, Azerbaijan is one of the leading countries in the world in terms of gasification – it has reached 95 percent,” said President Ilham Aliyev as he addressed a meeting of the Cabinet of Ministers dedicated to the results of socioeconomic development of the first quarter of 2019 and future …