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 tourism industry has shown marked signs of recovery and growth in the first nine months of 2024, underscoring the sector's resilience and adaptability in the post-pandemic landscape. As of September 2024, nearly 2.086 million foreign tourists visited Azerbaijan, a robust increase of 30.2% compared to the same period in 2022. The country witnessed a particularly strong performance in July 2024, with 271,591 tourists—a 21% rise from July last year.
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Freight traffic along the Trans-Caspian International Transport Route has shown a remarkable increase in the first nine months of 2024, bolstered by a concerted push from participating countries to enhance their transport corridors and logistical frameworks. The strategic corridor, which links Asia and Europe via the Caspian Sea, has seen cargo volumes surge by 2.7 times compared to the same period in 2022, highlighting its growing significance as a viable alternative to traditional trade routes.
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In September 2024, the prices of building materials in Baku increased by an average of 0.9% compared to the previous month, reflecting a stable yet slightly inflationary trend in the construction sector. This trend has been driven by a mix of local demand factors and fluctuations in import prices, particularly for materials such as timber and rebar.
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The British Islamic Trade Association and the Association of Food and Beverage Producers of Azerbaijan signed a Memorandum of Understanding (MoU) during the first Azerbaijan Halal Business and Tourism Forum (AZHAB Forum), held in Baku on October 8-9, 2024.
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