OPEC nearing deal to extend oil output cut to March 2018

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More from Economy

Over 187,000 tourists visited Azerbaijan in April

24.05.2017 11:19 GMT

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An event was held in Baku on results of Shopping Festival, APA reports.

Samir Sharifov: "Azerbaijan's IBA will be privatised but not before 2018"

23.05.2017 23:50 GMT

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The state-controlled International Bank of Azerbaijan will be privatised as soon as possible, but that won't happen before next year, Azerbaijani Finance Minister Samir Sharifov said on Tuesday, APA reports quoting Reuters.

Russia to supply meat, milk and honey to Azerbaijan

23.05.2017 22:35 GMT

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From June 1, Russian producers of meat, milk, and beekeepers will have the right to export their products to Azerbaijan.

Korea to host 2nd AIIB Annual Meeting of Board of Governors

23.05.2017 20:53 GMT

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The Korean government and the Asian Infrastructure Investment Bank (AIIB) will jointly host the 2nd AIIB Annual Meeting of the Board of Governors in Jeju, Republic of Korea, on June 16-18.

Kuwait`s Jazeera Airways to launch direct flights to Baku

23.05.2017 20:05 GMT

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Kuwait`s Jazeera Airways has said it is planning to launch direct flights to Baku from June 23. The flights will be carried out on Mondays and Fridays.

Azerbaijan gets about 3M manats from sale of tickets for Baku 2017

23.05.2017 19:15 GMT

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As many as 360,000 tickets were bought in 59 countries for the 4th Islamic Solidarity Games in Baku, Azad Rahimov, the Azerbaijani minister of youth and sports, general executive director of the Games’ Operations Committee, said.

Azerbaijan starts snail export

23.05.2017 12:03 GMT

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Edible snails, rich in protein and other useful substances, are popular in many countries.

Baku bids for hosting Expo-2025

23.05.2017 10:46 GMT

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Azerbaijan, Russia, France and Japan are bidding for hosting the World Expo-2025.

Sea transportation up in Azerbaijan

23.05.2017 10:38 GMT

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The Azerbaijan Caspian Shipping CJSC transported 2,300 freight cars on its ships in April 2017, which is seven percent more than in April 2016.

Azerbaijan’s free trade zone to start work in 2017

23.05.2017 09:04 GMT

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Azerbaijan’s free trade zone (FTZ) will start to operate in 2017, Taleh Ziyadov, director general of the Baku International Sea Trade Port CJSC, told reporters May 22.

S&P keeps SOCAR’s ratings unchanged

22.05.2017 22:36 GMT

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Standard & Poor’s Global Ratings has kept corporate credit rating, outlook, and issue ratings of the SOCAR unchanged (BB/Negative/--), APA-Economics reports.

TAP to support 8 projects in Italy’s Salento

22.05.2017 19:50 GMT

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The consortium for construction of the Trans Adriatic Pipeline (TAP) will support eight projects in Italy’s Salento with 50,000 euros worth grants, the consortium said in a message on its Twitter page.

State companies’ tax debt to budget makes up AZN 1.4B

22.05.2017 19:47 GMT

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In 2016 Azerbaijani state companies reduced their tax debt to the state budget by AZN 979,314,300 or 40.6% to AZN 1,434,449,400,000, said in a statement of the Chamber of Account on execution of state budget and draft law on execution of 2016 state budget, APA-Economics reports citing to Interfax.

Azerbaijan’s per capita external debt exceeds $700

22.05.2017 15:56 GMT

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Azerbaijan’s external debt on loan agreements signed as at early 2017 amounted to $10,931,800,000 or 32.3% of GDP.

Central Bank attracts more than AZN 493M

22.05.2017 15:35 GMT

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The Central Bank of Azerbaijan (CBA) said it attracted AZN 493.46 million at today’s auction.

Procedure of driving license replacement for foreigners simplified in Azerbaijan

22.05.2017 11:25 GMT

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The Cabinet of Ministers has introduced changes into the decision on Regulations on the rules of taking exams to get a driving license to operate a transport means and issuance of a driving license.

SOCAR Methanol reveals production volume since early 2017

19.05.2017 23:49 GMT

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The methanol plant of Azerbaijan’s state-owned company SOCAR produced 56,610 tons of methanol since early 2017, SOCAR Methanol LLC said in a message May 19.

AZN 4.5M allocated for development of sericulture

19.05.2017 19:28 GMT

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President of Azerbaijan Ilham Aliyev has issued an order on additional measures regarding improvement of material and technical base of the sericulture.

Georgia increases car export to Azerbaijan by 62%

19.05.2017 12:27 GMT

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Georgia has increased car export to Azerbaijan by 62%.

Azerbaijan, Qatar discuss establishment of joint investment fund

19.05.2017 00:12 GMT

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Azerbaijan and Qatar have discussed the establishment of a joint investment fund, AzerTag reports.

SOCAR commissions new well in Caspian Sea

18.05.2017 21:27 GMT

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Azerbaijan’s state oil company SOCAR will additionally produce 4,380 tons of oil and 365,000 cubic meters of gas annually through commissioning of a new well at the Oil Rocks offshore field, SOCAR said in a message May 18.

Sofia hosts conference on 25th anniversary of Azerbaijan-Bulgaria diplomatic rel

18.05.2017 21:11 GMT

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A conference on the theme "Bulgaria, Azerbaijan: 25 years of diplomatic relations, AzerTag reports.

Polish companies focus on Azerbaijani agrarian sector

18.05.2017 21:06 GMT

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The 23rd Azerbaijan International Food Industry Exhibition kicked off in Baku May 17 and will run till May 19, Trend reports.

New memorandum to introduce Islamic banking in Azerbaijan

18.05.2017 11:38 GMT

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AACC and ICD plan to host first investment forum in Baku.

Azerbaijan’s currency reserves exceed international norms – central bank

18.05.2017 11:34 GMT

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As of March 31, 2017 the volume of foreign currency reserves of the Central Bank of Azerbaijan stood at $4,433,000,000, said the Central Bank of Azerbaijan’s Monetary Policy Review for January-March 2017.

Total length of Azerbaijan’s transnational pipelines to reach 9,000 km

18.05.2017 00:31 GMT

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Currently, the total length of the transnational pipelines operated in Azerbaijan exceeds 5,500 kilometers, said president of Azerbaijan’s state oil company SOCAR Rovnag Abdullayev.

Sergey Luzyanin: Classic Silk Road via Azerbaijan is the most promising

17.05.2017 21:05 GMT

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“The route of the International Transport Corridor of the Silk Road Economic Belt via Azerbaijan is the most promising and the most classical route among all six main corridors,” head of the Institute of Far Eastern Studies of Russian Academy of Sciences, member of the Russian Council on International Affairs Sergey Luzyanin told “Vestnik Kavkaza".

Baku to host Bavaria-Azerbaijan business forum

17.05.2017 19:51 GMT

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The Bavaria-Azerbaijan Business Forum will be held on the occasion of the delegation’s visit under the direction of the Secretary of State in the Bavarian State Ministry of Economic Affairs and Media, Energy and Technology, Mr. Franz Josef Pschierer and the Bavarian companies in Azerbaijan on May 31, 2017, AHK Azerbaijan said May 17.

ICD signs MOU with AACC to introduce Islamic banking in Azerbaijan

17.05.2017 19:25 GMT

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The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group, has signed Memorandum of Understanding (MOU) with the Association For Azerbaijan-Arab Countries Cooperation (AACC) in order to introduce Islamic banking products in Azerbaijan and to lobby for changes in Azerbaijan banking legislation in order to incorporate Islamic banking.

USD rate for tomorrow announced

17.05.2017 17:41 GMT

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The Central Bank of Azerbaijan has announced USD/AZN rate for May 18.

Belarus plans to sign trade promotion agreement with Azerbaijan

17.05.2017 17:31 GMT

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"We have established information exchange."

Export of Azerbaijan’s agricultural products up by 44% - Minister

17.05.2017 14:17 GMT

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Export of Azerbaijan’s agricultural products rose by 44 percent in January-April 2017 as compared to the same period of 2016, said the country’s Agriculture Minister Heydar Asadov.

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