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2.5 MILLION TOURISTS VISITED AZERBAIJAN IN 2017

Last year, 2,691,998 foreign citizens visited Azerbaijan, which is 449,215, or 20% more than in 2016, the Ministry of Culture and Tourism informed today. Most of the tourists were from Russia – ...

AZERI BREND OIL PRICE HIGHEST SINCE 2015

The cost of a barrel of Azerbaijan’s Azeri LT CIF oil on the world market increased by $1.3, or 1.90%. At present, the cost of Azeri LT CIF brand oil is 69.89 dollars per barrel. In turn, the co...

SOFAZ SELLS OVER $3.5B TO AZERBAIJANI BANKS

The State Oil Fund of Azerbaijan (SOFAZ) sold $584.8 million at the currency auctions organized by the country’s Central Bank (CBA) in December 2017, SOFAZ said on January 5. SOFAZ sold over $3.7 bill...

DIESEL QUALITY IN AZERBAIJAN 21 TIMES LOWER THAN EUROPEAN STANDARDS

Natig Valiyev, who lives in Baku, has driven diesel-fueled cars for 13 years: “I always bought diesel-fueled cars because of their low fuel consumption. The quality of diesel is so low, however,...

MINIMUM WAGE TO BE 130 MANATS ($75) in AZERBAIJAN

On December 25 Azerbaijani President Ilham Aliyev signed an order to increase the minimum wage. Starting from January 1, 2018, the minimum monthly salary is set at 130 manats. The head of state instru...

BANKS KEEP CLOSING IN AZERBAIJAN

The Financial Markets Supervision Authority (FIMSA) of Azerbaijan made a decision to liquidate the license of Demir Bank OJSC from December 23, 2017. As Turan was informed in the FIMSA, the license wa...

THIERRY LEPERK: OIL PRICES WILL FALL TO $10

Oil is often called black gold. It’s all about the value of the mineral, and the countries in the bowels of which there is oil, have always been considered one of the richest and most prosperous...

AZERBAIJAN BORROWED HALF A BILLION USD FOR SHAHDENIZ 2 PROJECT

Azerbaijan attracted a syndicated loan for $524.5 million to support the development of the Shah-Deniz-2 gas field. The signing of a loan and guarantee agreement on the provision of a syndicated loan ...

BITCOIN PLUNGES BELOW $13,000, HEADS FOR WORST WEEK SINCE 2013

Bitcoin plunged below $13,000 (£10,970) on Friday after losing around a third of its value in just five days, with the digital currency on track for its worst week since 2013 after a blistering ascent...

AZERBAIJANI COMPANIES TO EXPORT FRUIT JUICE AND MEAT TO UAE

The Azerbaijani export missions to the United Arab Emirates (UAE) and Saudi Arabia included 19 exporters. Report informs, Vice-President of AzPromo (Azerbaijan Export & Investment Promotion Fund) ...