Repair and construction management JSC "Azerbaijan Railways" started to dismantle the coating materials of the hotel "Vokzal" which is on the balance sheet of the Baku railway station. This is the first public step of Javid Gurbanov, the new head of the Azerbaijan Railway since his appointment to this position on 9 February, 2015.
Facing of the 16-storey building around the perimeter, which includes a railroad station and other objects ended a few months ago. Facing was made of expensive materials of local origin. According to one of the employees, the new management has estimated that these materials are too heavy, and increase the utilization of the building and thus reduces the seismic stability.
JSC "Azerbaijan Railway" did not disclose the amount of the costs of facing, and it is not known how much will cost removal and replacement with a new building material. 08B
Economics
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Russian delegates at the COP 29 climate summit have reaffirmed their commitment to upholding the principles of the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. The Russian Federation stressed the importance of adhering to the principle of "common but differentiated responsibilities," arguing that developed nations must continue to honor their commitments to climate finance, while allowing developing countries to contribute on a voluntary basis.
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The world faces a shortfall of up to $87 billion annually for climate adaptation efforts by 2030, according to Lord Livermore, Financial Secretary to the UK Treasury. Speaking at the panel discussion titled "Mobilizing for Climate Action: Countries, Multilateral Financial Organizations, and the Private Sector Implementing the Paris Agreement," Livermore highlighted the urgent need for increased investment in adaptation measures.
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In the first nine months of 2024, Azerbaijan’s alcohol and non-alcoholic beverage production totaled a mere $53 million, underscoring the dismal outcomes of the State Program for the Development of Winemaking (2018–2025). Despite being endorsed by the president in 2018, the program has delivered lackluster results despite formal state funding. In essence, the state intervention intended to foster growth in the industry has yielded minimal success.
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Azerbaijan and EIB Global, the European Investment Bank’s external branch, signed a Memorandum of Understanding (MoU) at the COP29 climate summit to modernize and expand the Baku metro network, officials said on Thursday.
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