Economy

AZE.US Azerbaijan’s Ministry of Labor and Social Protection of the Population has announced the sale of new apartments that can be purchased through mortgage financing. According to the ministry, the apartments are located in newly built residential complexes in Baku, as well as in the Absheron and Samukh districts. All apartments offered for sale have … Read more

AZE.US With the Novruz holiday approaching, markets in Azerbaijan are becoming increasingly crowded as people purchase ingredients for traditional festive dishes. According to vendors, prices for most products typically used for the holiday table have remained relatively stable, although some items have seen noticeable increases. One of the main exceptions is hazelnuts, which have become … Read more

AZE.US Rising global oil prices do not automatically make Azerbaijan wealthier, according to economist and REAL party chairman Natig Jafarli. Writing on Facebook, Jafarli said that over the past two weeks he has frequently been asked whether higher oil prices could allow the government to increase social spending. He acknowledged that when oil becomes more … Read more

AZE.US The Central Bank of Azerbaijan has issued a license to Saf Takaful Insurance and Reinsurance Broker LLC to operate as an insurance broker in the country. According to the regulator, the company plans to work under the takaful model, a form of insurance based on Islamic finance principles. With the new license, Azerbaijan’s insurance … Read more

AZE.US Prices for apartments in older residential buildings across Baku are steadily rising, narrowing the gap with new construction projects in the city. Previously considered a more affordable segment of the housing market, apartments in Soviet-era and other older buildings are now approaching the price levels of newer developments in several districts of the Azerbaijani … Read more

AZE.US Thousands of taxi drivers in Azerbaijan have failed a mandatory certification exam, raising questions about whether the capital could face a shortage of taxis. According to the State Examination Center, 40,372 candidates have taken the test for taxi drivers so far. Of those, 32,562 passed, while 7,810 failed. The exam includes 20 questions covering … Read more

AZE.US Fish prices at markets in Baku have increased in recent days as demand rises ahead of the Novruz holiday, when fish is traditionally included in festive meals. One of the most noticeable price jumps has been for kutum, a popular fish often served during the holiday season. The price for one kilogram has risen … Read more

AZE.US Baku plans to build up to 200,000 new apartments by 2040, according to the Azerbaijani government’s report on its activities in 2025, which was presented to the country’s parliament. The large-scale construction program is part of the Baku Master Plan, which aims to expand housing supply and improve living standards in the capital as … Read more

AZE.US With the Novruz holiday approaching, many residents of Azerbaijan have already begun planning short trips during the upcoming long break. Travel agencies say demand for regional tourism traditionally rises ahead of the spring holiday, as families look to spend a few days outside the capital. Industry representatives note that interest in domestic travel is … Read more