The average monthly pension in Azerbaijan as of October 1 increased by 8.4% YoY, reaching 221.1 manats, the Ministry of Labor and Social Protection of Population of Azerbaijan said in a message. The average monthly old-age pension increased by 9%, to 249.1 manats over the same period. Funds allocated for pensions were 7.6% or 186.9…
The International Bank of Azerbaijan (IBA) has earned 319 million manats worth of profits in the first 9 months of 2018. These indicators reflect such positive trends in the bank’s activities, as successful completion of the recovery process and the transition to a new stage of development. As of September 30, the assets of IBA…
Transparency and accountability are the basis for stable and rapidly developing economy, Chairman of the Azerbaijan Chamber of Auditors Vahid Novruzov declared. Novruzov stressed that Azerbaijani President Ilham Aliyev paid special attention to ensuring transparency in the economy. “This is not coincidence because world practice shows that only transparent economy can be sustainable, develop rapidly…
Beekeeping, perhaps one of the most environmentally friendly types of agriculture, is vibrant and flourishing in Azerbaijan, and the industry almost doubled over the last eight years. Recent researches show that the products of the beekeeping industry have a significant demand both inside the country and abroad. Thus, head of the public relations and information…
Heydar Aliyev International Airport, located in Baku, is among 14 most beautiful airports in the world, according to the rating made by Curbed, an American real-estate blog network. “Located in the capital of Azerbaijan, the Heydar Aliyev International Airport terminal features giant wooden cocoons designed by Turkish architecture studio Autoban,” said Curbed. “Light streams in…
Currency reserves of the Central Bank of Azerbaijan (CBA) amounted to $5,534.5 million at the end of September 2018, up by $367 million or by 7.1% YoY, according to statistical data posted on the CBA website. CBA’s reserves increased by $31 million during September, while since early 2018 the figure has increased by $199.9 million.…
Nakhchivan Automobile Plant is implementing a project for production of electric cars, which, along with being cost-effective, are environmentally friendly, Director of the Nakhchivan Automobile Plant Musa Abdullayev reported on October 3. At the same time, the plant ordered ambulances based on a LIFAN commercial minivan and the first models would be assembled in early…