Turkey arrested One of the partners of the project Khazar Islands is arrested in Turkey
As part of an anti- corruption operation, the Turkish police arrested about 60 people, among them one of the largest construction magnates Ali Agaoglu. This billionaire is a partner of famous in Azerbaijan building businessman Ibrahim Ibrahimli, better known as Haji Ibrahim Nehramli.
In 2012 Agaoglu came to Baku to discuss the implementation of this ambitious project, estimated at a billion dollars. According to Turkish media , Agaoglu invested in this project on the Caspian coast 125 million.
The Khazar Islands is located in 25 km to the south of Baku. They are artificial island on the beach with fashionable buildings, an analogue of an ambitious project of Dubai "Palma". -02В-
Economics
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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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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