In 2015 BP oil and gas company will freeze raise of salaries to reduce the costs against the background of slump of oil prices, Financial Times quoted Robert Dudley, BP President, as saying his employees.
In 2016 he promised that the salaries will be raised as usually.
Salary makes major part of BP’s operation costs.
According to Reuters, in 2013 the company paid its 83,900 employees a little less than $14 billion as salaries and pensions.
In early January the company said that it will reduce 200 positions in the staff and 100 contract positions.
According to the restructure plans, the company plans to sell assets worth $10 billion by 2016.
The company usually raised salaries of its employees by in average 3-5% a year.—0—
Economics
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Azerbaijan's President Ilham Aliyev signed a decree introducing changes to a number of presidential decrees aimed at amending the country's Tax Code in connection with the adoption of Law No. 98-VIIQD on December 16, 2024. The decree, published on Tuesday, introduces significant changes designed to simplify tax refunds for various goods and services and improve the rules for refunding value-added tax (VAT).
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SOCAR Türkiye Enerji AS (STEAS), the Turkish subsidiary of Azerbaijan's state oil company SOCAR, has announced an ambitious plan to build new production facilities for ethylene, polyethylene, and polypropylene (polyolefins) in Turkey. This initiative comes as the country grapples with a widening supply-demand gap, with nearly 90% of its polyolefin needs currently being met through imports.
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The tourism industry in Azerbaijan is experiencing remarkable growth in 2024, driven by post-pandemic recovery and strategic government initiatives. From January to November 2024, the country welcomed 2.412 million foreign tourists, marking a 27% increase compared to the same period in 2023. Projections suggest that the total number of visitors by year-end could reach 3 million, underscoring the sector's impressive trajectory.
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In the first 11 months of 2024, Azerbaijan's consumer market demonstrated steady growth, with the total value of goods and services reaching 67.4 billion manats, a 4.8% increase compared to the same period in 2023. This growth underscores the resilience of Azerbaijan's economy, which continues to adapt to global and domestic challenges.
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