Seven cargo bridges are planned to be built on the territory of the Baku International Sea Trade Port (the Port of Baku) in January-March, Azerbaijani Economy Minister Shahin Mustafayev said. “Warehouses, additional buildings and other infrastructure facilities are also planned to be built till March,” he said. “Moreover, the operational building of the Port of…
The defense industry plays an important role in the economy of every confident country in the world, including Azerbaijan, whose defense industry is expanding with each passing year. In 2017 the enterprises of Azerbaijan’s Ministry of Defense Industry continued work on the production of defense products. The ministry noted that the volume of defense and…
The launching of Baku-Sofia direct flight will contribute to the development of tourism and business relations between Azerbaijan and Bulgaria, Bulgarian Prime Minister Boyko Borissov said. Borisov made the remarks at an expanded meeting with Azerbaijani President Ilham Aliyev in Baku on January 15. “An encouraging fact is that up till now we have resolved…
Prices for consumer goods and tariffs for services in Azerbaijan increased by 12.9% in 2017 as compared to 2016, the State Statistics Committee said. During the period, prices for food products grew by 16.4%, prices for non-food items by 11.6%, and the cost of paid services increased by 9.3%. Monthly inflation for December 2017 was…
The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 150 million manats with a maturity period of 28 days, the BSE said in a message. The demand exceeded the supply – banks applied for 150.69 million manats at par value. The deadline for payments on…
During holidays (from December 29 to January 4), 16,404 passengers were transported by trains running between Baku and Tbilisi and within Azerbaijan, Sevinj Gadirova, head of public relations department of Azerbaijan Railways CJSC, declared. She noted that this figure exceeded the usual indicator 2-fold. Gadirova added that taking into account the high passenger traffic, 73…
The Central Bank of Azerbaijan (CBA) raised 9.98 billion manats from banks at deposit auctions in 2017, the CBA said on January 4. The demand from banks amounted to 25.56 billion manats, which exceeded the supply nearly 2.6-fold. The interest rate on deposit transactions concluded within the framework of the auctions was 10.01-14.87% during the…