Economics

Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure,...

According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.

The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.

"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during...

Данная инициатива направлена ​​на цифровизацию процессов управления в сфере безопасности пищевых продуктов в Азербайджане, создание более эффективной и прозрачной системы за счет применения современны...

Azerbaijan’s President Ilham Aliyev has signed a decree confirming an agreement between the governments of Azerbaijan and Russia aimed at boosting transit cargo shipments along the "North-South" inter...

Consumer prices in Azerbaijan saw an overall increase of 2.1% in January 2025 compared to the previous month, according to the State Statistical Committee's latest report. Prices for food products ros...

On February 11, Azerbaijan opened a trade house in Punjab (northeastern Pakistan), an event described as "significant for strengthening bilateral relations between Azerbaijan and Pakistan" by Pakistan...

BP, which has been operating in Azerbaijan for almost 32 years and is a strategic partner of the country, has outlined its steps for 2025 and the medium-term future, both for ongoing projects ("Shah D...

Last week, another round of negotiations between SOCAR and Tatneft took place in Baku, as the two companies have been discussing potential cooperation for the past three years.

Azerbaijan’s corporate sector needs to develop an appropriate system for assessing employees, according to Jalal Gasimov, CEO of PASHA Holding. Speaking at the Human Development Forum in Baku, Gasimov...

The launch of the Azeri Central East (ACE) platform in Azerbaijan's Caspian Sea shelf marked an important milestone for BP in 2024, said BP CEO Murray O'Kinkloss on February 11, presenting the company...

Cargo transportation along the Middle Corridor (Trans-Caspian International Transport Route, TMTM) reached a record 3.3 million tons in 2024, marking a 20% increase year-on-year, according to the Secr...

Azerbaijan’s national carrier AZAL and Israel’s El Al Airlines have announced a new partnership under a codeshare agreement, allowing passengers of both airlines to access joint flights, the carriers...

After a nearly five-year hiatus, passenger train services between Azerbaijan, Russia, and Georgia may soon resume, with tentative plans set for March or April. However, uncertainty remains as official...

Azerbaijan Caspian Shipping Company (ASCO) has resumed regular cargo and passenger transportation after severe weather conditions disrupted operations in the Caspian Sea, the company said on Monday.