Economy

Global oil supply fell by 950 thousand barrels per day (kb/d) in December, led by lower OPEC output with 100.6 million barrels per day (mb/d) ahead of new supply cuts, according to data of the International Energy Agency (IEA) on Friday, Anadolu Agency reported. According to the IEA, a sharp …

The low-cost airline Buta Airways will launch direct flights from Baku to two more cities of Ukraine – Odessa and Kharkiv. Flights to Odessa will be operated starting from May 16 this year on Thursdays and Sundays, while to Kharkiv – starting from May 3 on Tuesdays and Fridays. Opening …

The price of Azerbaijani oil has increased on the world markets. The price of a barrel of Azeri Light crude oil rose $1.23 to stand at $62.75.

An Azerbaijani delegation is participating in the international SATTE 2019 exhibition held in New Delhi, India on January 16-17, aiming to broadly promote the country’s tourism potential abroad. Azerbaijan is represented at the two-day event by 19 agencies, including experts of State Tourism Agency and the Azerbaijan Tourism Board, along …

Azerbaijan’s Ambassador to the Czech Republic Farid Shafiyev has met with the country’s Minister of Agriculture Miroslav Toman. The parties discussed ways to expand cooperation in agriculture between the two countries, especially by increasing agricultural production exported from Azerbaijan to the Czech Republic. The sides also exchanged views over completing …

Starting from May 16, 2019, the low-cost airline Buta Airways will launch direct flights to another Russian city -Astrakhan. Astrakhan will be the fifth destination of the low-cost airline in Russia. The airline is already operating regular flights from Baku to Moscow, St. Petersburg, Kazan and Mineralnye Vody. The minimum …

Azerbaijan’s trading house has opened in Dubai, the UAE. Created by Azerbaijan’s Ministry of Economy, the trading house supports the promotion of Azerbaijani goods under the ‘Made in  Azerbaijan’ brand in Dubai, and engage in marketing research, participation in exhibitions and other activities related to the promotion of Azerbaijani goods. …

“The Republic of Korea has invested almost USD 180 million in Azerbaijan’s economy, while the Azerbaijani investments to this country amounted to USD 474 million,” said Minister of Economy Shahin Mustafayev. Mustafayev said that a legal framework was established between the two countries, and 57 documents had been signed so …

The Government of Azerbaijan and the Republic of Korea have signed a Framework Agreement on Grant Assistance. The document was signed by Azerbaijan’s Minister of Economy Shahin Mustafayev and Korean Ambassador to Azerbaijan Kim Tong-op. The document envisages continuation of joint cooperation between Azerbaijan and the Republic of Korea on …