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Economics2017
RU AZ
2017 November 20 ( Monday )  13:51:03
 
Tax Evasion Revealed in Export of Agricultural Products - Ministry of Taxes

Baku / 20.11.17 / Turan: Among the exporters of agricultural products, there are many entities that evade paying taxes in especially large amounts. At the same time the businessmen "manage" to involve people who do not understand the export procedures at all in this process. The Deputy Minister of Taxes Sahib Alakbarov said this in Yevlakh at a meeting with entrepreneurs.


RU AZ
2017 November 20 ( Monday )  13:22:36
 
Social Expenditures of Oil Extracting Azerbaijan and Non-Oil-Extracting Georgia Equal - Rovshan Agayev

Baku / 20.11.17 / Turan: The economist Rovshan Agayev equalizing the expenses of the state budget of Azerbaijan and Georgia, came to the conclusion that the budget expenditures per capita in the dollar equivalent of oil-extracting Azerbaijan and non-oil-extracting Georgia are almost the same.


RU AZ
2017 November 20 ( Monday )  13:06:28
 
Import of Bananas Increased by 45%

Baku / 20/11/17 / Turan: During the first 9 months of this year, 17,344.2 tons of bananas were delivered to Azerbaijan, which is 45.1% more than for the comparable period of 2016, the State Statistics Committee reported, citing the State Customs Committee. Only in the third quarter 4,236.6 tons of this tropical fruit was delivered.


RU AZ
2017 November 20 ( Monday )  11:43:42
 
Azerbaijani Railways Preparing for Issue of Shares

Baku / 20.11.17 / Turan: Azerbaijan Railways CJSC will place additional shares before the end of this year. To this end, the state-run company has turned to investment companies that will provide underwriting services. The appeals were sent to three companies (Uni Capital, Invest AZ and Capital Management), but four other investment companies may also participate in the quotation survey, which will be held on November 22.


RU AZ
2017 November 18 ( Saturday )  12:41:15
 
Changing the order of payment for unfinished housing

Baku / 18.11.17 / Turan: The head of state sent a package of amendments to the Civil Code to the parliament in order to eliminate a number of controversial issues in the construction sector. The proposals were discussed at a meeting of the parliamentary Committee on Legal Policy and State Building on November 17, press service of the Milli Majlis reports.


RU AZ
2017 November 17 ( Friday )  13:39:38
 
Female entrepreneurship is the engine of the economy

Baku/17.11.17/Turan: The conference "Development of Women's Entrepreneurship in Azerbaijan" took place on November 17 in the framework of the Week of Global Entrepreneurship, organized with the support of USAID and financial support of UNDP. The event was attended by members of the Milli Majlis, state structures, public associations, international organizations, embassies and think tanks.


RU AZ
2017 November 17 ( Friday )  12:54:41
 
Industrial Production Falls by 4.6%

Baku / 17.11.17 / Turan: In ten months of this year, industrial production in Azerbaijan decreased by 4.6%, as a result of a decline in oil and gas production, the State Statistics Committee (SSC) said.


RU AZ
2017 November 17 ( Friday )  12:04:50
 
Azeristiliktejhizat Again Fails to Fulfill Its Obligations to Population

Baku / 17.11.17 / Turan: Annually on November 15, the supply of heat begins in Azerbaijani apartment buildings equipped with centralized water heating. In the past years, colds came two weeks earlier, but heat was supplied from November 15, or later, if faults were found in the system.


RU AZ
2017 November 17 ( Friday )  11:34:17
 
Ministry of Economy Liquidates Result of Quotation Survey of Icherisheher Historical and Architectural Reserve Office

Baku / 16.11.17 / Turan: The State Service of Antimonopoly Policy and Consumer Protection (SSAPCP) of the Ministry of Economics liquidated the result of the quotation survey of one of the structures of the Icherisheher Historical and Architectural Reserve (IHAR, Ancient Baku Fortress) Administration. The reasons for this decision are not reported.


RU AZ
2017 November 17 ( Thursday )  10:53:38
 
Number of People Receiving Targeted Social Assistance Decreased by 27.5%

Baku / 17.11.17 / Turan: As of October 1 this year targeted social assistance is provided to 98.3 thousand low-income families, consisting of 404, 6 thousand people. This is 4% of the total population of the country.


RU AZ
2017 November 16 ( Thursday )  14:17:17
 
GDP Fell by 0.7% for Ten Months

Baku / 16.11.17 / Turan: In January-October of 2017, gross domestic product (GDP) production in Azerbaijan totaled 56 billion 481.5 million manat, 0.7% less than in the same period last year, the State Statistics Committee (SSC) reported.


RU AZ
2017 November 16 ( Thursday )  13:03:58
 
Baku-Tbilisi-Kars Railway Tariffs for 2018 Discussed in Baku

Baku / 16.11.17 / Turan: A general meeting of the international association of the Trans-Caspian International Transport Route (TCITR) is held in Baku since November 15. It was formed as a union of legal entities (ULE).


RU AZ
2017 November 16 ( Thursday )  12:49:54
 
Implementation of Agreement on Production of Sleeping Cars Discussed in Baku

Baku / 16.11.17 / Turan: The President of Stadler Rail Group (Switzerland) Peter Spuler is in Baku. He was received by Javid Gurbanov, Chairman of the Board of Azerbaijan Railways (AzR) CJSC on November 16.


RU AZ
2017 November 16 ( Thursday )  12:26:20
 
Bill on Tax Incentives Prepared

Baku / 16.11.17 / Turan: The working group of the Ministry of Taxes has finalized the process of developing proposals on granting tax benefits aimed at the growth of the national economy.


RU AZ
2017 November 16 ( Thursday )  11:43:44
 
At Current Tariffs, Incomes of Azerishig OJSC and Azersu OJSC to Increase

Baku / 16.11.17 / Turan: The Azerbaijani government has said that it will make a compromise in the issue of tariffs, in particular, Finance Minister Samir Sharifov said it at a meeting of five parliamentary committees as part of the discussion of the draft state and consolidated budgets for 2018. However, this will not prevent the 50% growth of incomes of companies operating in the electric power structure of the country.


RU AZ
2017 November 16 ( Thursday )  11:16:38
 
MIDA LLC Turns to Investors for Construction of Shopping Center

Baku / 16.11.17 / Turan: MIDA LLC under the State Housing Development Agency appealed to investors for construction of a shopping center on the territory of the Yasamal housing complex under construction in Baku. Interested companies are given only 15 days, although the state started construction of the complex at the end of 2016.


RU AZ
2017 November 15 ( Wednesday )  14:48:24
 
Ministry of Finance Studying Possibility of Exploiting Alunite Deposit

Baku / 15.11.17 / Turan: The Ministry of Finance announced a tender to attract an international consultant who will prepare recommendations to the government on the prospects of using the Zaylik alunite ore deposit (Dashkesan region) in the Gence alumina refinery (GAR).


RU AZ
2017 November 15 ( Wednesday )  11:47:05
 
Accord Corporation Gains Profit

Baku / 15.11.17 / Turan: OJSC Accord Industrial and Construction Investment Corporation gained profit in the amount of 18 million 785 thousand manat in 2016, while the previous year it was unprofitable (-77.2 million manat). This is stated in the consolidated financial report, https://goo.gl/9LUXcX, published by the corporate website of the Accord group of companies.


RU AZ
2017 November 15 ( Wednesday )  11:25:41
 
Import of Cars Grows by 88%

Baku / 15.11.17 / Turan: Over 8,100 vehicles were delivered to Azerbaijan in the first ten months of this year, which is 86.3% more than in the corresponding period of 2016. Last year, vehicle imports fell due to the economic crisis to a minimum, at least over the past 10 years.


RU AZ
2017 November 14 ( Tuesday )  17:19:32
 
AZAL Signs Several More Agreements on Acquisition of Aircraft

Baku / 15.11.17 / Turan: During the meeting of Jahangir Asgarov, President of CJSC Azerbaijan Airlines, with Embraer Commercial Aviation CEO John Slattery, an agreement was signed within the framework of the international aviation exhibition Dubai Air Show 2017 on the purchase of two Embraer 190 aircraft on leasing terms, the press service of AZAL reported.


RU AZ
2017 November 14 ( Tuesday )  16:20:55
 
Positive Balance of Foreign Trade Transactions Exceeds $ 2 Billion

Baku / 14.11.17 / Turan: For ten months of this year, the volume of foreign trade operations of Azerbaijan with 187 countries of the world exceeded 16 billion US dollars, having increased by 13.1% compared to the same period of 2016. At the same time, mainly due to the increase in world prices for crude oil, the positive balance of foreign trade operations for the period increased by 8.8 times, and amounted to approximately $ 2.1 billion, the State Customs Committee said on November 14.


RU AZ
2017 November 14 ( Tuesday )  13:46:51
 
State Body for Food Safety

Baku / 14.11.17 / Turan: President Ilham Aliyev signed a decree on 13 November to ensure the activities of the Agency for Food Safety (AFS) of the AR, which was established in February this year http://www.president.az/articles/22752.b


RU AZ
2017 November 14 ( Tuesday )  13:09:11
 
Seed Processing Factories to Be Built in Two Districts

Baku / 14.11.17 / Turan: The State Seed Fund (SSF) has completed the selection of a contractor for the construction of complexes for processing and storing seeds, as well as auxiliary buildings in two regions of the country.


RU AZ
2017 November 14 ( Tuesday )  12:46:41
 
Number of Employees in State Bodies Decreased by 1.6%

Baku / 14.11.17 / Turan: As of October 1 of this year, 1 million 526.4 thousand people worked in the economy of Azerbaijan, of which 877.6 thousand or 57.5% are employed in state enterprises and organizations, the State Statistics Committee reports.


RU AZ
2017 November 14 ( Tuesday )  11:39:53
 
For Decades It Will Not Be Possible to Achieve Profitability from Baku-Tbilisi-Kars - Gubad Ibadoglu

Baku / 14.11.17 / Turan: The railway has a small share in cargo transportation and this is related to the structure of the country's trade turnover, the economist Gubad Ibadoglu considers.


RU AZ
2017 November 14 ( Tuesday )  11:28:25
 
Building of Defense Industry Ministry to Be Repaired by Company from Ashagy Gushchu Village in Tovuz Region

Baku / 14.11.17 / Turan: The Ministry of Defense Industry has selected Tomris-1 LLC as a contractor for the repair of its administrative building in Baku. At the time of signing the contract with this agency, the company created on July 25 this year already had another contract on the balance with another state entity.


RU AZ
2017 November 14 ( Tuesday )  11:01:26
 
LLC Aztelecom Completed Year with Profit

Baku / 13.11.17 / Turan: Following the results of 2016, LLC Aztelecom gained balance profit in the amount of 11 million 223 thousand manat. In the previous year, the state company suffered losses in the amount of over 20 million manat, according to the audited financial report published in the corporate website of the company http://aztelekom.net/uploads/docs/2016.pdf.


RU AZ
2017 November 14 ( Monday )  10:51:45
 
Azersun Holding Wants to Reduce Dependence on Sugar Imports

Baku / 14.11.17 / Turan: This year the Imishli sugar plant will take half a million tons of sugar beet. In order to reduce the dependence of the plant on imported raw materials, it is required to increase the production of local sugar beet and bring about 1.5 million tons. The group of companies Azersun Holding believes it will be possible to do in the coming years with the protectionist support of the state.


RU AZ
2017 November 13 ( Monday )  14:22:49
 
State Investments in AZAL Do Not Stop, but AZAL Cannot Provide Self-financing

Baku / 13.11.17 / Turan: The news about the acquisition of seven new aircraft by Boeing was expected from the Azerbaijani Airlines (AZAL), as for the transportation of a growing number of passengers AZAL needs to increase the aircraft fleet.


RU AZ
2017 November 13 ( Monday )  14:07:42
 
Inflation Rate Decreases State Statistics Committee

Baku / 13.11.17 / Turan: In January-October of this year, prices for consumer goods and services to the population increased by an annualized rate of 13.7%. In July and August, the inflation rate reached 14%, the State Statistics Committee (SSC) reported.


RU AZ
2017 November 13 ( Monday )  12:33:23
 
Rockwell Company to Supply Equipment for New Boeing 737 MAX Aircraft of Azerbaijan Airlines

Baku/13.11.17/Turan: The Rockwell Collins International is selected as the supplier of onboard electronics, entertainment systems and communication equipment on the new Boeing 737 MAX aircraft of Azerbaijan Airlines (AZAL).


RU AZ
2017 November 13 ( Monday )  11:59:14
 
Ministry of Health Orders Medical Equipment for 6.4 Million Manat

Baku / 13.11.17 / Turan: The Ministry of Health signed two contracts with the Arash Medical Company for the supply of medical equipment for two regional hospitals.


RU AZ
2017 November 13 ( Monday )  11:29:08
 
Customs Officials to Exceed Forecast by 15%, Given Current Rate

Baku / 13.11.17 / Turan: Over the ten months of this year, 2,168,649,100 manat was received from the state budget for import and export operations, an increase of 18% compared to the same period last year. To fulfill the annual plan, customs officers lack 81.4 million manat.


RU AZ
2017 November 13 ( Monday )  11:13:08
 
AZAL and Boeing Sign Agreement on Purchase of New Modern Aircraft

Baku/13.11.17/Turan: November 12, 2017, Dubai- CJSC Azerbaijan Airlines (AZAL) and Boeing Corporation have today agreed to purchase five B787-8 Dreamliner and two B747-8F (orB777F) aircraft.


RU AZ
2017 November 10 ( Friday )  16:17:54
 
Passenger flow at Baku International airport increases by 20%

Baku/10.11.17/Turan: Baku-In January-October 2017, Heydar Aliyev International Airport served 3.46 million passengers. This indicator grew by more than 20 percent compared to the same period last year and exceeded the total statistics for the entire 2016 year.


RU AZ
2017 November 10 ( Friday )  13:33:50
 
Transit Freight Transportation Increased by 33.8%

Baku / 10.11.17 / Turan: For the first nine months of this year, 7 million 386.3 thousand tons of transit cargo was transported via the Azerbaijan section of the TRACECA transport corridor, which is one third (1,871,000 tons) higher than the index for the comparable period of 2016, the State Statistics Committee reported.


RU AZ
2017 November 10 ( Friday )  13:23:50
 
Nakhchivan Holding Continues Reorganization

Baku // Turan: The group of companies Negshicahan Holding Ltd announced the creation of three more subsidiaries, which previously functioned as not an independent business entity.


RU AZ
2017 November 10 ( Friday )  11:50:20
 
Three Foreign Companies Announce Curtailment of Activity in Azerbaijan

Baku / 10.11.17 / Turan: The Netherlands company Witteveen + Bos Azerbaijan B.V. announced the closure of the representative office in Baku. This week two more companies have announced the termination of their activity in Azerbaijan.


RU AZ
2017 November 10 ( Friday )  11:25:54
 
AS Group Invest Holding Creates Specialized Agricultural Company

Baku // Turan: The group of companies AS Group Invest has established a new company that will implement a project to create the largest agricultural economy in the Absheron peninsula.


RU AZ
2017 November 08 ( Wednesday )  14:29:28
 
Issues of Connecting Belarus to North-South Corridor Discussed

Baku / 08.11.17 / Turan: Four-party talks on solving financial and technical issues on the development of the western branch of the North-South International Transport Corridor will be concluded in Baku today, the press service of the Azerbaijan Railways CJSC reports.


RU AZ
2017 November 08 ( Wednesday )  13:35:38
 
What Can We Expect from Lowering Customs Duties on Butter?

Baku / 08.11.17 / Turan: Euphoria caused by the decision of the Cabinet of Ministers to reduce customs duties on imported butter and other oils made from milk can soon be replaced by disappointment.


RU AZ
2017 November 08 ( Wednesday )  12:48:55
 
Contradictory Official Statistics about Workplaces

Baku / 08.11.17 / Turan: Information on the opening of thousands of jobs since the beginning of this year does not stand up to criticism, even according to the same official data provided by the State Statistics Committee and the Ministry of Taxes.


RU AZ
2017 November 08 ( Wednesday )  11:37:27
 
Manufacturers Did Not Earn Anything from Application of Customs Duties on Leather Export

Baku / 08.11.17 / Turan: In November of last year, high customs duties on the export of leather from Azerbaijan were applied. The government set a duty for the export of every ton of wool of large and small cattle from 150 to 500 dollars, regardless of the condition of the primary treatment.


RU AZ
2017 November 07 ( Tuesday )  15:47:51
 
SOCAR Auctions Auto Parts

Baku / 07.11.17 / Turan: The transport department of SOCAR announced the auction for the sale of about 70 names of spare parts for cars and special vehicles, which are valued at a total cost of 110,000 manat.


RU AZ
2017 November 07 ( Tuesday )  15:37:36
 
Minister of Finance Proposes Raising Excise Rates for Alcoholic Beverages

Baku / 07.11.17 / Turan: The Minister of Finance Samir Sharifov said it is proposed to double the excise rates for alcoholic beverages.