Economy

Cigarette Prices May Rise in Azerbaijan

AZE.US Cigarette prices in Azerbaijan may increase again in the coming days, with retail prices expected to rise by about 0.20 to 0.30 manat ($0.12...

Company directors could face travel bans over corporate customs debt

AZE.US Azerbaijani company directors could face temporary travel restrictions over unpaid customs debts owed by their businesses, a provision that financial lawyer Akram Hasanov says...

Azerbaijan’s mortgage limits fall far behind soaring home prices

AZE.US Buying a home with a mortgage has become increasingly difficult in Azerbaijan as property prices rise faster than state-backed lending limits. The rules themselves have...

Milk at 25 Gapiks: Why Azerbaijani Farmers Are Operating at a Loss

AZE.US Azerbaijani dairy farmers say buyers are offering as little as 0.25 manat, or about $0.15, per liter of raw milk, a price they say...

Cherries at 12 Manats: Why Seasonal Fruit Prices Are Not Falling in Azerbaijan

AZE.US Summer fruit has arrived in Azerbaijan’s markets, but the seasonal price drop many shoppers expected has yet to happen. Cherries are selling for as much...

Azerbaijani banks are issuing loans to borrowers as old as 73

AZE.US Some banks in Azerbaijan are offering consumer loans to borrowers up to the age of 73, in some cases without requiring a guarantor or...

Baku demolition compensation rises to 2,700 manats per square meter

AZE.US Compensation for properties demolished under redevelopment projects in parts of Baku has risen from 1,500 manats to 2,700 manats per square meter, but property...

Money Sent to Your Card by Mistake: Why You Should Not Spend It

AZE.US A large sum appearing unexpectedly in a bank account does not make the account holder its legal owner, even if the money is already...

Ilgar Mammadov calls for abolishing Azerbaijan’s Economy Ministry

AZE.US Azerbaijani politician and public figure Ilgar Mammadov has proposed abolishing the Ministry of Economy and redirecting its funding toward a business ombudsman and independent...

220 buildings and 15 hotels are under construction at Sea Breeze – Agalarov

AZE.US About 220 buildings with a combined area of 4.5 million square meters are under construction at the Sea Breeze resort near Baku, businessman and...

Wedding rush drives up gold prices in Azerbaijan

AZE.US Gold prices are rising in Azerbaijan as families rush to hold weddings and engagement ceremonies before the start of Muharram. Muharram begins on June 16,...

New Taxes Will Hit Poor and Middle Class, Abbasli Says

AZE.US New taxes and mandatory payments will place the greatest burden on low-income families and the middle class, according to Tural Abbasli, chairman of Azerbaijan’s...

Baku Apartment Rents Set to Rise: When Prices Are Expected to Increase

AZE.US Apartment rents in Baku are expected to rise most sharply in August and September, when students return to the capital and demand for affordable...

Baku-Tbilisi train proposed for extension to Batumi

AZE.US The recently restored Baku-Tbilisi passenger train should be extended to Batumi, creating a direct rail connection between the Caspian and Black Sea coasts, transport...

Driverless Cars Could Appear in Baku as New Rules Move Through Parliament

AZE.US Azerbaijan is preparing a legal framework for the use of autonomous vehicles, with a draft law now under discussion in the Milli Majlis. Under the...

Baku woman says she bought apartment on 12th floor of 11-story building

AZE.US A Baku resident says she bought an apartment on the 12th floor of a building that was ultimately built only up to 11 floors,...

When can credit debt lead to losing your home?

AZE.US Credit problems can put borrowers at risk of losing property in Azerbaijan, but that usually happens only after a long period of missed payments...

New buildings get pricier, older apartments back in demand

AZE.US Rising housing prices in Baku are changing what buyers look for, with older apartments returning to demand as new buildings become increasingly expensive. Buyers who...

Baku taxi users report growing problem with incorrect pickup locations

AZE.US Residents of Baku say they are increasingly encountering a frustrating issue when ordering taxis through mobile apps: drivers are being directed to the wrong...

Azerbaijan looks to turn $7.5 billion energy deals into wider economic leverage

AZE.US Azerbaijan is seeking to turn a new package of energy and investment agreements worth about $7.5 billion into broader economic and political leverage, officials...

Why cherry prices remain high in Azerbaijan

AZE.US Cherry prices in Azerbaijan remain high despite the start of the season, with sellers pointing to bad weather, damaged orchards and higher delivery costs. At...

State should not be afraid of wealthy citizens, Jafarli says

AZE.US REAL Party leader Natig Jafarli said Azerbaijan’s economy needs stronger private business, real competition and richer citizens, not deeper dependence on state support. Speaking in...

Traveling to Georgia With Your Own Car: An Alternative Option Emerges

AZE.US A new travel option is being discussed in Azerbaijan for people who want to visit Georgia and still use their own car during the...

Why Azerbaijan Cannot Fully Meet Its Own Wheat Demand

AZE.US Azerbaijan’s rising wheat imports from Russia have brought the issue of food security and domestic grain production back into public debate. In the first three...

Gold Demand Falls In Baku Even After Prices Decline

AZE.US Gold sellers in Baku say demand has weakened in recent months, even after prices for some gold products declined. Vesti Baku reports that the local...

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