Economy

Azerbaijani and Saudi Energy Ministers adhere the continuation of cooperation between OPEC and non-OPEC countries in 2019 in terms of oil market regulation, as Energy Minister Parviz Shahbazov met Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Khalid A.Al-Falih in Vienna. The meeting focused on the factors that make …

Turkey and Azerbaijan will jointly produce freight cars for the Baku-Tbilisi-Kars railway (BTK), the Turkish transportation and infrastructure minister said on Wednesday, Anadolu Agency reported. “Turkey and Azerbaijan will set up a plant in Azerbaijan to produce freight cars for BTK railway,” Mehmet Cahit Turhan told reporters after his meeting …

“We believe that Chevron`s decision is a completely business decision,” said BP Azerbaijan`s Vice President for Communications, External Affairs, Strategy and Region Bakhtiyar Aslanbayli as he commented on media reports saying that Chevron is seeking to sell its stakes in Azerbaijan’s largest oilfield Azeri-Chirag-Gunashli (ACG). “I suggest you talk to …

A draft law on amending Azerbaijan’s Electoral Code was discussed at a plenary session of the Azerbaijani parliament Nov. 30.The draft law submitted to the parliament reads that there are contradictions between the first part of Article 110, the first part of Article 105 of the Constitution and Article 178 …

There are plans to open the House of Small and Medium-sized Enterprises (SMEs) in Baku in 2019, chairman of the board of the Agency for the Development of SMEs in Azerbaijan Orkhan Mammadov told reporters in Baku Nov. 29.He said that in the coming days, the opening of centers “Friend …

The price of Azerbaijani oil has increased on the world markets.The price of a barrel of Azeri Light crude oil rose $1.88 to stand at $63.13.

During the first ten months of 2018, Heydar Aliyev International Airport served a total of 3.8 million passengers. This indicator exceeds the same indicator of the previous year by 10 percent.National air carrier Azerbaijan Airlines (AZAL) carried 1 million 628,000 passengers, while national low-cost airline Buta Airways – 382,000 passengers.3,28 …

Azerbaijan, Russia and Iran created a joint working group on solution of the issues of further development of transportations between the countries and also a relevant system of monitoring.The issue was focused on within the Transport Week-2018 which took place in Moscow and discussed issues of transportation of goods between …

The World Bank (WB) supports Azerbaijan’s employment strategy and is eager to support the country’s employment action plan, Head of the WB Baku Office Naveed Naqvi told Trend.He noted that, the bank supports the Labor Ministry of Azerbaijan in this direction, adding that work to improve the existing pension system …

Azerbaijan has ranked 34th among 140 countries and first among former Soviet republics in terms of road quality, according to the Global Competitiveness Report.Azerbaijan made a big leap forward in the index, outclassing European countries such as Lithuania, Estonia, Slovenia, Norway, Ireland, Belgium and Italy.The top five in the index …