The national air carrier Azerbaijan "Silk Way Airlines" has bought a new aircraft "Boeing 747-8F". According to the press-service of the company, this is the eighth aircraft "Boeing" and a fourth airliner "Boeing 747-8F", operated by "Silk Way Airlines". The new aircraft will allow the company to expand its route network, including new destinations in the United States. The company along with regular cargo transportation to Milan, Luxembourg, Frankfurt, Istanbul, Dubai, Seoul, Hong Kong and Shanghai, plans to open a new line to Chicago and Dhaka. -03D-
Economics
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The U.S. Energy Information Administration (EIA) forecasts that Azerbaijan’s average daily oil production will reach 640,000 barrels per day (b/d) in 2025, aligning with predictions made in September, according to the October EIA report "Short-term Energy Outlook."
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The Central Bank of Azerbaijan (CBA) and the Islamic Chamber of Trade and Development (ICCD) held discussions on the future of Islamic finance in the country, signaling growing interest in Sharia-compliant banking solutions.
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Food prices in Azerbaijan’s capital, Baku, increased by 5% during the first nine months of 2024, highlighting rising inflationary pressures in the domestic market, the Turan agency reported.
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Global grain prices continued their downward trajectory in August, as the FAO grain price index slipped 0.5% from July and a sharp 11.9% year-on-year decline, reflecting weakening demand and intensifying competition among major exporters. Wheat prices were particularly impacted by higher-than-anticipated production levels in Argentina and the United States, exerting additional downward pressure on the international market.
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