In the first quarter of 2016 the number of employees in the in the head offices and branches of banks and insurance companies in Baku decreased by 2436 people compared to the same period of 2015. According to the Baku Statistics Department, for April 1, 20,100 people worked in financial institutions of Baku.
Approximately one thousand people were laid off in the communications and telecommunications enterprises in Baku. On April 1, in these enterprises worked 18.2 thousand people. The construction companies employed 60.900 people; by 9310 people less than a year earlier. Total on 1st April 2016 682.100 thousand people are employed, at least 8,400 people less in Baku, in the comparable period of last year. According to the committee, in Azerbaijan on conditions of employment contracts work 1.5 million people. 08D
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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