Economy

SOCAR Turkey Energy AS and Rosneft sign agreement

11.10.2016 | Readed: 1363

Rosneft and Socar Turkey Energy signed an agreement on supplies of oil and oil products at the World Energy Congress. “The parties will examine cooperation potential within the scope of new Star Refinery with the capacity......

2.1 million tons of Azerbaijani oil transported via BTC in August 2016

08.10.2016 | Readed: 1265

2 million 55 thousand 791 tons of Azerbaijani oil was transported via Baku-Tbilisi-Ceyhan-BTC main export pipeline in September 2016. According to the press service of SOCAR, 22 million 43 thousand 322 tons of oil was......

Iranian Mahan Air to launch flights to Baku

08.10.2016 | Readed: 1178

Iranian Mahan Air airline will launch regular flights on Tehran-Baku-Tehran route from October 31. Azerbaijan State Civil Aviation Administration issued the relevant permission after receiving a request from the airline to perform flights three times a week. Flights are......

Oil price on world markets

04.10.2016 | Readed: 1149

The price of oil changed in the world markets. On the New York Stock Exchange NYMEX (" New York Mercantile Exchange") cost of the US light crude oil increased $ 0.41 to stand at $ 48.24. Price of the brand crude oil at the......

Nobel laureate praises economic reforms in Azerbaijan

03.10.2016 | Readed: 771

Edward Prescott, who received Nobel Memorial Prize in Economics in 2004, has hailed the economic reforms in Azerbaijan. He visited the Center for Economic Reforms Analysis and......

Azerbaijan, Uruguay discuss economic cooperation

01.10.2016 | Readed: 735

Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) Shahmar Movsumov has met with a delegation led by President of the Chamber of Representatives of the......

Asan İmza at French Smart Security Week

29.09.2016 | Readed: 772

Azerbaijani mobile ID & signature technology “Asan İmza” continues drawing attraction of the global e-ID and trust services community – this time “Asan İmza” was presented at Smart Security Week 2016 – one of the prestigious events dedicated to......

Silk Way Helicopter Services, Russian Helicopters intend to establish joint service center in Azerbaijan

28.09.2016 | Readed: 701

Silk Way Helicopter Services (SWHS MMC) commercial helicopter company and Russian helicopter holding Russian Helicopters signed a letter of intent within the ADEX 2016 International Defence Exhibition on September 27. The......

Silk Way West Airlines launches direct flights to Chicago

24.09.2016 | Readed: 977

Silk Way West Airlines has opened direct cargo flights between Baku and the largest transportation hub in the United States, Chicago (Illinois). The first flight from Heydar Aliyev International Airport to O'Hare......

“Asan İmza” presented in Tashkent

23.09.2016 | Readed: 895

On September 19-23 of this year the capital of city of Uzbekistan, Tashkent hosted the “ICTWEEK Uzbekistan 2016” – an information-communications technologies week uniting a series of specialized events within a single format. At one of such events, namely......

‘AZAL and Indonesian Airlines can establish direct flights between Baku and Jakarta’

21.09.2016 | Readed: 836

Ambassador of Indonesia to the Republic of Azerbaijan Husnan Bey Fananie has met with a delegation of Caspian Energy headed by President and Editor-in-Chief of the Caspian Energy International Media Group Natalya......

Azerbaijan to join World Forum of Aviation and ICAO assembly in Canada

17.09.2016 | Readed: 906

An Azerbaijani delegation led by head of the State Administration of Civil Aviation Arif Mammadov will take part in the International Civil Aviation Organization (ICAO) Assembly and IWAF2016 forum in Montreal, Canada, scheduled for September 27 – October 7.......

AZAL warns passengers traveling with Samsung Galaxy Note 7 smartphone

16.09.2016 | Readed: 873

In accordance with the recommendations of the European Aviation Safety Agency (EASA), Azerbaijan Airlines asks passengers not to use Samsung Galaxy Note 7 smartphone or charge it......

Asan Imza presented at Russian PKI Forum 2016

15.09.2016 | Readed: 964

The 14th international conference on public key infrastructure (PKI) and e-signature - “PKI-Forum Russia 2016” has today started in Saint Petersburg under the organization of......

Ukraine, Georgia agreed on organization of direct international railway-ferry service

14.09.2016 | Readed: 881

On Tuesday, September 13, at the International Maritime forum held in Batumi, an Agreement was signed between the governments of Ukraine and Georgia on the organization of direct international railway traffic through the ports of Ukraine and Georgia, according to......

Azeri Light oil price is more than $50 on world markets

09.09.2016 | Readed: 856

The price of a barrel of Azeri Light crude oil increased $2.46 to stand at $50.51 on the world markets. On NYMEX (New York Mercantile Exchange) cost of the US Light crude oil fell $0.38 to stand at $46.06. Price of the Brent crude oil at the London ICE (InterContinental Exchange......

Azerbaijan Railways can attract foreign loans

08.09.2016 | Readed: 832

Chairman of Azerbaijan Railways Javid Qurbanov has said the company could attract foreign loans. "If we manage to attract low interest loans for a 20 or 25 year term, it will be spent for financing projects carried out by Azerbaijan Railways,” he......

Baku-Ganja speed train to be launched by the end of 2017

08.09.2016 | Readed: 942

Baku-Ganja speed train is expected to be commissioned by the end of 2017, chairman of Azerbaijan Railways Javid Gurbanov told journalists. He said trains would go with a speed of 100-140 kilometres per hour on this......

Azerbaijan, Iran mull over use of storage facilities

06.09.2016 | Readed: 888

Azerbaijan`s state oil company SOCAR can provide Iran with its gas storage tanks, President of SOCAR Rovnag Abdullayev has told reporters. He said that the matter rests in small amounts of 1-2 billion cubic meters of......

SOCAR ‘not in talks’ to buy Gazprom gas

06.09.2016 | Readed: 805

President of Azerbaijan`s state oil firm (SOCAR) Rovnag Abdullayev has said the company is not conducting any talks with Russian giant Gazprom on gas purchases. "We needed technical gas to inject into reservoirs. We will buy......

Azeri Light oil price increases on world markets

05.09.2016 | Readed: 855

The price of a barrel of Azeri Light crude oil increased $0.70 to stand at $47.11 on the world markets.

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Azerbaijan Airlines announces recruitment of female flight attendants

02.09.2016 | Readed: 785

CJSC Azerbaijan Airlines (AZAL) announces admission of documents from females for a flight attendant position. The documents will be received from 10:00 to 12:00, from September 1 to October 1. The candidates will be......

Azerbaijan Airlines announces 20% discount within new autumn campaign

01.09.2016 | Readed: 908

Azerbaijan Airlines (AZAL) announced the launch of a new autumn campaign, timed to Gurban holiday. A 20% discount will be applied when buying round-trip air tickets in the period from September 5 to 30, 2016 to/from Baku to......

First gas from Absheron field expected in 2019

31.08.2016 | Readed: 791

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Azerbaijan produces 82-88 million cubic meters of natural gas and 115000-120000 tons of oil daily

30.08.2016 | Readed: 817

"Azerbaijan produces 82-88 billion cubic meters of natural gas and 115-120 thousand tons of oil daily," Azerbaijan’s Deputy Energy Minister Natig Abbasov stated at the first Eurasia Conference on “Emerging energy economies in the Caspian regions: Changes and......

1st IAEE Eurasian Conference kicks off in Baku

29.08.2016 | Readed: 963

The First Eurasian Conference organized by the International Association for Energy Economics (IAEE) to focus on the energy economics emerging from the Caspian region has kicked......

Baku to host congress of Association of Turkish Consulting Engineers and Architects

26.08.2016 | Readed: 794

  Baku will host the next congress of the Association of Turkish Consulting Engineers and Architects called “mega-projects in the energy and transport”, on......

Azeri Light oil price increases on world markets

24.08.2016 | Readed: 818

Oil prices have risen in the world markets. On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the US Light crude oil increased $0,69 to stand at $48.10. Price of the Brent crude oil at the London ICE (InterContinental Exchange Futures) rose $0,80 to trade......

Another meeting of Azerbaijan-China Intergovernmental Commission on trade and economic cooperation held in Baku

20.08.2016 | Readed: 929

The sixth meeting of the Azerbaijan-China Intergovernmental Commission on trade and economic cooperation took place in Baku. Deputy Prime Minister and Co-chair of the Commission, Abid......

Cooperation between Iran, Azerbaijan in the field of standardization is ‘important’

15.08.2016 | Readed: 798

Chairperson of the Iranian National Standards Organization Nire Purizbakht has hailed the importance of Iranian-Azerbaijani cooperation in the field of standardization. "The Iranian National Standards Organization is ready for cooperation with the State Committee......

Loan portfolio of banks and non-bank credit institutions totals nearly 18.5bn m

15.08.2016 | Readed: 895

According to Azerbaijan`s Central Bank, the total loan portfolio of banks and non-bank credit institutions in the country amounted to 18,434,200,000 manats as of July 1. Official figures show that of this amount 14,374,900,000 manats were allocated in long-term loans. The Central......

People`s savings in banks increase by 2.1 per cent, Azerbaijan`s Cental Bank

13.08.2016 | Readed: 857

The amount of the people`s savings in banks made 7,815,600,000 manats as of July 1 to see a 2.1 per cent growth, according to the Central Bank of Azerbaijan (CBA). CBA said 80.6 per cent of savings are kept in foreign and 19.4 per cent in national currency. 77.6 per cent of savings......

Erdogan: SOCAR`s projects significantly contribute to economic development of two brotherly countries

04.08.2016 | Readed: 795

President of Turkey Recep Tayyip Erdogan has hailed the role of Azerbaijan`s state oil firm, SOCAR, in developing his country`s economy. “SOCAR`s projects significantly contribute to economic development of our two......

15 million tons of Azerbaijani oil transported via BTC in 2016

13.07.2016 | Readed: 948

2 million 489 thousand 988 tons of Azerbaijani oil was transported via Baku-Tbilisi-Ceyhan-BTC main export pipeline in June 2016. According to the press service of SOCAR, 14 mln 930 thousand 790 tons of oil was exported from......

Oil price on world markets

13.07.2016 | Readed: 928

The price of oil rose again in the world markets. On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the US Light crude oil increased $1.48 to stand at $46.31. Price of the Brent crude oil at the......

Ukrainian flour producer interested in cooperation with Azerbaijani entrepreneurs

12.07.2016 | Readed: 884

Ukrainian company “Stolichnaya Melnitsa” has expressed its interest in cooperating with Azerbaijani entrepreneurs, according to Azerbaijan Export and Investment Promotion Foundation. Based in Kiev, the company is one of......

Seoul hosts first meeting of Azerbaijan-Korea Joint Commission on Economic Cooperation

16.06.2016 | Readed: 1078

The first meeting of the Joint Commission on Economic Cooperation between the Government of the Republic of Azerbaijan and the Government of the Republic of Korea has kicked off in Seoul. Prior to the meeting, co-chaiman of......

Spain hosts second meeting of International Network for UNESCO Silk Road Online Platform

11.06.2016 | Readed: 1069

The second meeting of the International Network for the UNESCO Silk Road Online Platform is taking place in Valencia, Spain. Turkish Embassy to Spain has hosted cultural event within the second......

Seoul to host first meeting of Azerbaijan-Korea Joint Commission on Economic Cooperation

11.06.2016 | Readed: 1132

The first meeting of the Joint Commission on Economic Cooperation between the Government of the Republic of Azerbaijan and the Government of the Republic of Korea will be held in Seoul on June 14. The Joint Commission on......

Two freight trains from China to travel to Georgia crossing Azerbaijan’s territory

11.06.2016 | Readed: 1218

The first freight train from India to Russia passing through the territory of Azerbaijan will be launched in late August 2016 as part of the North-South Project, Javid Gurbanov, head of the Azerbaijan Railways CJSC......

Trans Adriatic Pipeline holds ceremony to mark start of construction

18.05.2016 | Readed: 1138

Under the auspices of Alexis Tsipras, Prime Minister of the Hellenic Republic, the Trans Adriatic Pipeline (TAP) marked the start of construction of the pipeline project. The significance of TAP as a strategic piece of the......

Azerbaijani Ambassador in Rome presents letter of credence to FAO Director-General

20.04.2016 | Readed: 1159

Azerbaijan`s Ambassador to Italy Mammad Ahmadzade has presented a letter of credence to Director-General of the UN Food and Agriculture Organization (FAO) Jose Graziano da Silva as he was appointed the permanent representative of the country to the UN agencies in......


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