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Economics2017
RU AZ
2017 December 29 ( Friday )  13:47:32
 
Transformations Take Place in Accord Corporation’s Entity

Baku / 29.12.17 / Turan: A factory of metal products, which is one of the industrial entities of Accord Corporation, has been transformed into an independent company. But this is not the latest news in LLC Accord Steel Construction Company, which has recently been called Steel Force Construction Company.


RU AZ
2017 December 29 ( Friday )  12:25:36
 
Small and Medium-sized Entrepreneurship Development Agency Established

Baku / 29.12.17 / Turan: The President of Azerbaijan Ilham Aliyev signed a decree on improving management in the sphere of small and medium business.


RU AZ
2017 December 28 ( Thursday )  14:32:42
 
AzerGold Reports Income, Modestly Omitting Expenses

Baku / 28.12.17 / Turan: At the end of the year, the state-owned company AzerGold reported on successes in the extraction and export of precious metals. But how much this occupation costs remains a mystery.


RU AZ
2017 December 28 ( Thursday )  14:05:28
 
Shahdag Ski Resort’s Cableways Burden for State Budget

Baku / 28.12.17 / Turan: Shahdag Turizm Merkezi CJSC, represented by the government as a pearl of tourism business in Azerbaijan, will get a subsidy in the amount of 12 million manats from the state budget in 2018.


RU AZ
2017 December 28 ( Thursday )  11:26:33
 
Pasha Holding Creates New Real Estate Company

Baku / 28.12.17 / Turan: The company Hillside Apartments with capital of 29 million 850 thousand manats has been created. By certain criteria it can be attributed to the group of companies Pasha Holding.


RU AZ
2017 December 28 ( Thursday )  11:18:10
 
Sons of Officials Created Several Companies

Baku / 28.12.17 / Turan: Shamkhal Hasanli, the son of Ali Hasanov, presidential aide of President Ilham Aliyev, has become the director of Baku-24, founded on November 22, with a symbolic capital of 10 manats. This is not the first company of a 25-year-old son of the official.


RU AZ
2017 December 27 ( Wednesday )  16:12:24
 
Azerbaijan Again Outsider

The International Monetary Fund has published the results of a large-scale study and identified countries with the highest GDP per capita. Many of the countries that are among the richest in the world have oil and gas reserves on their territory, which has a positive effect on the development of their economies. Investments and a strong banking system are factors that also play an important role in the economy of the richest countries.


RU AZ
2017 December 27 ( Wednesday )  14:51:16
 
President Can Personally Allocate at Least 28.3% of State Budget Expenditures - 2018

Baku / 27.12.17 / Turan: In 2018, President Ilham Aliyev has the right to personally distribute funds in the amount of at least 5 billion 962.1 million manats from the state budget. This amounts to 28.3% of the expenditure part of the state budget.


RU AZ
2017 December 27 ( Wednesday )  12:36:49
 
Our minimal wages are the most minimal!

The minimum wage in Azerbaijan from January 1, 2018 will increase to AZN 130. The corresponding order was signed by the President Ilham Aliyev. This means that workers, whose salaries are now 116 manats a month, will receive by 14 manat more - just at the rate of 14% inflation. The increase in salaries will concern nurses, laboratory assistants, hospital nurses of budgetary hospitals, a certain part of teachers of secondary schools, the whole contingent of urban housing and utilities offices, technical personnel of ministries and universities.


RU AZ
2017 December 27 ( Tuesday )  10:56:31
 
Presidential Affairs Department ‘Turned’ into Construction Organization

Baku / 27.12.17 / Turan: The Baku City Executive Power gave permission on December 19 this year to the Presidential Affairs Department for the construction of a residential building. Turan became aware of this from a source in the State Committee for Urban Development and Architecture.


RU AZ
2017 December 26 ( Tuesday )  16:39:58
 
New Level of Criterion of Need Established

Baku / 26.12.17 / Turan: President Ilham Aliyev set a new level of the criterion of need by his decree. From January 1, 2018, the criterion of need is set at 130 manats.


RU AZ
2017 December 26 ( Tuesday )  16:38:35
 
AZN Two Million Extra for MPs

Baku / 26.12.17 / Turan: In 2018, the expenses for the maintenance of the Milli Mejlis will amount to 25 million 432 thousand manats, which is 1.2 million manats more than the state budget envisaged in the draft. It turns out that the MPs nevertheless achieved a rise in their wages.


RU AZ
2017 December 26 ( Tuesday )  14:27:25
 
Video Management of Public Transport in Baku to Cost 20.1 Million Manat in 2018

Baku / 26.12.17 / Turan: The Baku Transport Agency (BTA) under the Cabinet of Ministers concluded an agreement on December 20 to purchase services and goods to provide video management of public transport.


RU AZ
2017 December 26 ( Tuesday )  13:52:07
 
Head of Food Safety Agency Appointed

Baku / 26.12.17 / Turan: By order of President Ilham Aliyev, Goshgar Ilahi Oglu Tehmezli was appointed chairman of the Food Safety Agency.


RU AZ
2017 December 26 ( Tuesday )  13:28:46
 
200-fold Increase in Excise Rate Should Not Affect Price of Gasoline

Baku / 26.12.17 / Turan: "There is no reason for concern, since the official statement says the excise rate is increased for imported gasoline with an octane rating of up to 95. Petrol of this brand is produced at the Heydar Aliyev Oil Refinery," the expert Ilham Shaban told Turan.


RU AZ
2017 December 26 ( Tuesday )  13:14:31
 
High Excise Rates Create Conditions for Smuggling - Expert

Baku / 26.12.17 / Turan: Two-fold increase in excise taxes on tobacco and alcohol products is fraught with rising prices and smuggling due to limited local production, the economist Natig Jafarli believes.


RU AZ
2017 December 26 ( Tuesday )  12:13:29
 
Arthur Rasizadeh Satisfied with Oil Fund’s Budget

Baku / 26.12.17 / Turan: The draft budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2018 was discussed at a meeting of the Council of Observers of this structure.


RU AZ
2017 December 26 ( Tuesday )  11:02:08
 
Mikayil Jabbarov Visits Georgia to Exchange Experience

Tbilisi / 26.12.17 / Turan: The new Tax Minister of Azerbaijan Mikayil Jabbarov arrived in Tbilisi, where he met with the Minister of Finance Mamuka Bakhtadze.


RU AZ
2017 December 26 ( Monday )  10:49:32
 
Prices for Cigarettes and Alcoholic Drinks to Rise in 2018

Baku / 26.12.17 / Turan: At the end of January 2018, excise rates on imported cigarettes will increase threefold, from 4 to 12 manats per 50 packs (1,000 units). This decision was made by the Cabinet of Ministers on December 21.


RU AZ
2017 December 26 ( Tuesday )  10:29:11
 
Minimum Wage in Azerbaijan to Be AZN 130 from January 1, 2018

Baku / 26.12.17 / Turan: On December 25 Azerbaijani President Ilham Aliyev signed an order to increase the minimum wage. Starting from January 1, 2018, the minimum monthly salary is set at 130 manats.


RU AZ
2017 December 25 ( Monday )  17:43:34
 
State Tariffs Often Ignored in Pharmacies

Baku / 25.12.17 / Turan: Cases of unreasonable increase in the cost of medicines subject to state price regulation have become more frequent, said the head of the non-governmental organization Free Consumers Union (FCU) Eyub Huseynov.


RU AZ
2017 December 25 ( Monday )  14:17:37
 
Foundation of Second Social Housing Complex

Baku / 25.12.17 / Turan: A ceremony of laying the foundation for the first of 11 buildings of the Hovsan residential complex under construction by the State Agency for Housing Construction (MIDA) was held. It was attended by President Ilham Aliyev.


RU AZ
2017 December 25 ( Monday )  13:29:45
 
Russia Opens Market for Azerbaijani Agricultural Products

Baku / 25.12.17 / Turan: Issues of expansion of trade and economic cooperation were discussed during today's meeting of the President of Azerbaijan Ilham Aliyev with the Minister of Economic Development of the Russian Federation Maxim Oreshkin.


RU AZ
2017 December 25 ( Monday )  13:20:46
 
New Excise Rates on Imported Goods Approved

Baku / 25.12.17 / Turan: The Cabinet of Ministers approved the new edition of Excise Rates on Excisable Goods Imported to the Territory of Azerbaijan.


RU AZ
2017 December 25 ( Monday )  13:09:32
 
Registration and Liquidation of Legal Entities to Be Notified to Fiscal and Statistical Agencies

Baku / 25.12.17 / Turan: In the state registration and liquidation of legal entities, the concerned state departments will be notified by registration authorities. President Ilham Aliyev, by decree of December 22, established a range of these departments.


RU AZ
2017 December 25 ( Monday )  13:03:33
 
Secret Owners of Investment Company

Baku / 25.12.17 / Turan: The owner of OJSC Investment Company Capital Management, one of the participants of the capital markets in Azerbaijan, has been replaced. However, whom the new owner represents is unknown.


RU AZ
2017 December 25 ( Monday )  12:51:45
 
Center for Agricultural Training and Development

Baku / 25.12.17 / Turan: Azerbaijan Agriculture Training and Development Center Company has been established in Azerbaijan.


RU AZ
2017 December 25 ( Monday )  12:15:29
 
Ministry of Agriculture Organizes Pre-holiday Fairs

Baku / 25.12.17 / Turan: In connection with the holidays of the World Azerbaijanis" Solidarity Day and the New Year, the Ministry of Agriculture organizes food fairs in Baku and Sumgait.


RU AZ
2017 December 25 ( Monday )  12:04:15
 
Company "Attached" to Irrigation System Being Liquidated

Baku / 25.12.17 / Turan: Khan Group LLC (TIN 3300223041) announced voluntary liquidation. The name of the company, established in 2008 in the Pireze village of Agdash region, appears only in state purchases.


RU AZ
2017 December 23 ( Saturday )  13:18:48
 
Over 11 months of 2017, per capita income in Azerbaijan amounted to 2621 dollars

Baku / 23.12.17 / Turan: Over 11 months of 2017, the nominal incomes of the population of Azerbaijan increased by 8.2 percent and reached 43.4 billion manat. The per capita income increased by 7.2 percent and amounted to 4459 manats (2621 dollars), according to the Minister of Labor and Social Protection Salim Muslimov in an article published in the newspaper "Azerbaijan". http://www.azerbaijan-news.az/index.php?mod=3&id=136665)


RU AZ
2017 December 22 ( Friday )  23:54:36
 
Demir Bank OJSC's License Terminated

Baku / 22.12.17 / Turan: The Financial Markets Supervision Authority (FIMSA) of Azerbaijan made a decision to liquidate the license of Demir Bank OJSC from December 23, 2017.


RU AZ
2017 December 22 ( Friday )  16:32:19
 
Pasha Holding Forms Two Daughter Structures

Baku / 22.12.17 / Turan: The group of companies Pasha Holding continues to increase its presence in the agrarian sector. Recently, two more companies, which will work in this sector, have been established.


RU AZ
2017 December 22 ( Friday )  15:56:40
 
Vodka Production Decreased by 76.7%

Baku / 22.12.17 / Turan: The legal volume of production of vodka, which is the second popular alcoholic drink in Azerbaijan, declined by 76.7% in the 11 months of this year. According to the State Statistics Committee, beer and wine are becoming more popular now.


RU AZ
2017 December 22 ( Friday )  13:25:34
 
Trade House - Azerbaijan LLC Registered in Latvia

Baku / 22.12.17 / Turan: With the participation of the Ministry of Economy of Azerbaijan in Latvia, the company Trading House of Azerbaijan has been established. It will manage the Azerbaijani Trade House being created in Riga.


RU AZ
2017 December 22 ( Friday )  11:24:18
 
150 Thousand Hectares of Natural Forage Lands Seized for Two Years

The policy of the authorities pushes the livestock sector into a deadlock, Vahid Maharramov, an agricultural expert, believes.


RU AZ
2017 December 21 ( Thursday )  16:08:29
 
Sown Areas Increased by 7.9%

Baku / 21.12.17 / Turan: As of December 1, 879 thousand hectares of land were planted for winter crops, which is 7.9% more than last year, the State Statistics Committee reports.


RU AZ
2017 December 21 ( Thursday )  13:56:31
 
On Closure of Representative Office of B.A.T (UK and Export) Limited in Baku

Baku / 21.12.17 / Turan: On December 21, the company B.A.T (UK and Export) Limited announced the closure of the representative office in Azerbaijan, which operated in the country since 1998. The reasons for the closure of the Baku office are not reported.


RU AZ
2017 December 21 ( Thursday )  13:32:02
 
Ministry of Economy Presents Website That Does Not Exist

Baku / 21.12.17 / Turan: The Ministry of Economy presented the portal Licenses and Permits to representatives of the business community and state structures. Surprisingly, there is no website like this, and its domain name is unknown.


RU AZ
2017 December 20 ( Wednesday )  15:37:29
 
Azerbaijan Becomes Exporter of Onions

Baku / 20.12.17 / Turan: This year Azerbaijan has practically stopped importing onions and has simultaneously turned into their exporter, having gained about $ 14 million from this business. This is stated in statistical reports of the State Customs Committee for nine months.


RU AZ
2017 December 20 ( Wednesday )  12:53:29
 
Charter and Structure of State Agency of Azerbaijan Highways Confirmed

Baku / 20.12.17 / Turan: President Ilham Aliyev issued a decree on ensuring the activity of the State Agency of Azerbaijan Highways (SAAH) established on October 18 this year on the basis of Azeravtoyol OJSC. The document approved its charter and structure.


RU AZ
2017 December 20 ( Wednesday )  11:48:50
 
Amendments Made to Review Administrative Misconduct for Evasion of Compulsory Financial Audit

Baku / 20.12.17 / Turan: President Ilham Aliyev made changes to the "List of officials authorized to draw up a protocol on administrative misconduct cases considered by district (city) courts". They concern the issues of consideration by different structures of administrative misconduct on evasion of compulsory financial audit.


RU AZ
2017 December 20 ( Tuesday )  10:51:44
 
Authorized Capital of Baku Subway Increased by 45.7%

Baku / 20.12.17 / Turan: By the Decree of the Cabinet of Ministers ¹563 dated December 15, the authorized capital of Baku Subway CJSC was increased by 809.6 million manat or 45.7%.


RU AZ
2017 December 19 ( Tuesday )  11:22:08
 
Swiss Watches “Lag Behind” in Azerbaijan

Baku / 19.12.17 / Turan: In 2016, watches with a body of valuable metals worth more than 15 million US dollars were delivered to Azerbaijan from 10 countries in 2016. But the figures cited by the exporting countries in the UN Comtrade (the UN statistical database on international trade) are many times different from local customs data. The situation has not improved this year.


RU AZ
2017 December 19 ( Monday )  10:42:24
 
Cotton Companies Agreed on Cartel for 2018

Baku / 19.12.17 / Turan: Two major participants of the cotton sector in Azerbaijan agreed on purchase prices for raw cotton for 2018. The agreement, which can actually be called a cartel for the purchase of cotton, was reached under the heads of the Ministries of Agriculture and Economy in early December.


RU AZ
2017 December 18 ( Monday )  16:13:20
 
IMF on the problem of financial system in Azerbaijan

Baku/18.12.17/Turan: An International Monetary Fund (IMF) team led by Mohammed El Qorchi visited Baku from November 30 to December 14 to hold discussions in the context of the 2018 Article IV Consultation.


RU AZ
2017 December 18 ( Monday )  14:52:12
 
"Azerbaijan has left behind economic difficulties", Keiko Honda

Baku / 18.12.17 / Turan: Azerbaijan is a financially reliable partner and fulfills all the responsibilities assumed, President Ilham Aliyev said at a meeting with Keiko Honda, Executive Vice President and General Executive Directors of the Guarantee Agency of Multilateral Investment, a member of the World Bank Group. The President expressed his gratitude to the World Bank for consistent support to economic reforms in the country.


RU AZ
2017 December 18 ( Monday )  14:19:51
 
This Year Tourists Spent 1.3 Billion Dollars in Azerbaijan - Deputy Minister

Baku / 18.12.17 / Turan: For 11 months of 2017, 2 million 477 thousand tourists visited Azerbaijan, which is 20% more than in the same period of last year.


RU AZ
2017 December 18 ( Monday )  13:49:12
 
New Residents of Sumgait Chemical Industrial Park

Baku / 18.12.17 / Turan: In the official statement about the visit of the Sumgait Chemical Industrial Park (SCIP) by President Ilham Aliyev on December 15, certain information was provided that was not previously available to the public. It turns out that STP LLC is a resident of this industrial park http://president.az/articles/26373g, which is exempt from taxes.


RU AZ
2017 December 18 ( Monday )  13:08:54
 
15.2% of Produced Fruits and Vegetables Exported

Baku / 15.12.17 / Turan: For 10 months of this year Azerbaijan exported about 350 thousand tons of fruits and vegetables for $ 1 / kg. This is reported by the State Committee for Statistics (SCS). This makes up 15.2% of the produced volume of fruits and vegetables in the country.


RU AZ
2017 December 18 ( Monday )  12:22:55
 
Azerbaijan Exports Eggs at 0.1 cent per Unit

Baku / 18.12.17 / Turan: This year Azerbaijan restored egg exports after many years of interruption. But, as the analysis shows, there are also mysterious signs of corruption.