World Bank Ease of Doing Business in Azerbaijan Report was Released

World Bank Ease of Doing Business in Azerbaijan Report was Released Azerbaijan entered the top 20 countries on the ease of starting business in the annual ranking of Doing Business-2015 of the World Bank and the International Finance Corporation, said the report posted Oct.29 on the official website of Doing Business. Azerbaijan took the 12th place among the 189 countries covered by the rating according to this index, leaving behind such countries as China (128th), Austria (101st),... Read More

Will the Middle East support Washington’s ‘oil sanctions’ to Russia?

Will the Middle East support Washington’s ‘oil sanctions’ to Russia? Dr. Vugar Bayramov Chair of CESD, Azerbaijan www.cesd.az The price of 1 barrel of crude oil again dropped to $ 82 in the world market. The description of the market is very simple: demand is declining whereas the supply still remains high. Unlike Russia’s expectations, Saudi Arabia not only decreased oil production, but also applied for price discounts in the oil export. Namely, ‘Saudi Aramco’ which... Read More

SOFAZ’s extra budgetary expenses reached to $ 1.24 billion US

SOFAZ’s extra budgetary expenses reached to $ 1.24 billion US Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-September, 2014 reached 10.13 billion manats ($12.99 billion US), while budget expenditures constituted 8.04 billion manats ($ 10.30 billion US). Revenue of 9.97 billion manats ($ 12.78 billion US) was received from the implementation of oil and gas agreements, including 9.95 billion manats ($ 12.76 billion US) from... Read More

Azerbaijan Economy in the First Nine Months of 2014; Brief Overview

Azerbaijan Economy in the First Nine Months of 2014; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first nine months of year on October, 20, 2014. Both independent and official reports show that oil GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, oil GDP decreased 2.0 % in the first nine months of 2014 since CESD calculations found out 2.5 % decline... Read More

Germany and France withdraw from Trans Adriatic Pipeline AG

Germany and France withdraw from Trans Adriatic Pipeline AG Germany and France have withdrawn from Trans Adriatic Pipeline AG (TAP) being created for Azerbaijani gas transportation. TAP AG informs that E.On (9%) and Total (10%) sold their equity stakes to Fluxys and new shareholder Enagás (Spain). As a result, existing shareholder Fluxys increased its stake in TAP from 16% to 19% and Enagás joined the project as a new shareholder with a 16% stake in the company. As a result,... Read More

Expert: The role of social networks in employment increases

Expert: The role of social networks in employment increases “Our observations show that job search today is made 97% by using the Internet”. “At the same time people are placing their resumes using the internet”. Oxu.Az reports referring to the “Echo” newspaper that the statement came from the chairman of the Center for Economic and Social Development Vugar Bayramov. However, according to him, the share of social networking in the job search... Read More