Azerbaijan’s biggest electrical power producer Azerenerji OJSC carries out reconstruction, complex repair and rehabilitation work at electric power plants and systemically significant 220 and 110-kilovolt substations in order to improve the supply of electricity to Baku, the surrounding settlements and the country’s regions. A 220-kilovolt substation “Khirdalan”, the substation “Mushfig” in the Badamdar settlement, the…
Azerbaijan Airlines CJSC (AZAL) intends to postpone the timing of delivery of Boeing 737 MAX-8 aircraft till 2024. The negotiations are underway with Boeing Corporation regarding the supply of Boeing 737 MAX-8 aircraft. According to the contract signed in 2017, the aircraft were to be supplied this year, the company said. According to the contract,…
Oil prices this year are expected to reach $65, Director of Fitch Ratings Sovereign Group in Europe Marina Stefani declared. She said that next year oil prices would be at $62.5. The expert also noted that gas production in Azerbaijan would grow due to the production from the second stage of Shah Deniz field’s development.…
The average monthly nominal salary of civil servants in Azerbaijan in 2018 increased by 15.3% YoY, to 796.5 manats, the State Statistical Committee reported. According to the committee, as of January 1, there were 29,100 civil servants in the country, 28.5% of which were women. Of them, 4.5% of civil servants worked in the top…
A collective agreement on clearing, settlements in securities and derivative financial instruments has been signed between the National Depository Center of Azerbaijan (NDC) and AzerTurkBank OJSC, PASHA Bank OJSC, Xalq Bank OJSC and Yapi Kredi Bank Azerbaijan CJSC. The agreement provides for the use of a new settlement model – a settlement agent for clearing…
The value of compensation payments for problem loans of individuals of Bank VTB (Azerbaijan) as of May 25 has reached about 17 million manats, Yevgeniy Kirin, Chairman of the Management Board of Bank VTB (Azerbaijan), said at a press conference on the results of the first quarter of 2019. He said that over 7,000 clients…
A direct flight between Azerbaijan and Pakistan is scheduled to operate soon. Pakistani Aviation Minister Ghulam Sarwar Khan made the statement during a meeting with Ali Alizada, Azerbaijan’s Ambassador to Pakistan. Both parties agreed on developing strong relations in the field of aviation. They noted that recent years had witnessed a growing number of Pakistanis…