Economy

Azerbaijan's economy grew by more than 7% in the 4Q of last year

Azerbaijani economy grew by 5.6% in real terms in 2021, according to the preliminary data, Baku Tribune reports.

Oil prices jump on world markets

Oil prices have increased on the world markets.

Wall Street closes higher despite disappointing data

Markets on Wall Street closed higher on Friday as investors digested economic data reports that showed consumer sentiment in the United States hit a 10-year low this month, while September job openings remained unchanged from the previous month. Stocks still posted weekly losses as concerns about high inflation following the latest consumer price index report continued to affect sentiment.

Azerbaijan's strategic currency reserves sharply increased over the last 5 years

Azerbaijan's strategic currency reserves have increased by USD 12.8 bln. or 34.5% over the last 5 years (2016-2021), APA-Economics reports citing report of State Oil Fund of the Republic of Azerbaijan (SOFAZ) on 2020.

Asian stocks dip after China's CPI data

Shares in the Asia-Pacific region traded with losses on Wednesday after China's National Bureau of Statistics revealed that the consumer price index (CPI) in the country advanced 1.5% on an annual level.

UK house prices jump 8.1% in October

House prices in the United Kingdom increased by 8.1% in October compared to the same month in 2020, according to Halifax's monthly House Price Index report published on Friday. The figure came in above estimates.

Lufthansa's revenue in Q3 up 96% to reach €5.21B

Deutsche Lufthansa AG reported on Wednesday that its total revenue in the third fiscal quarter of 2020 landed at €5.21 billion, missing estimates although landing 96% higher than in the same period the previous year. The company's operating expenses in the same period grew by 32% year-over-year to stand at €5.65 billion.

Azerbaijan's strategic currency reserves exceed USD 52 bln.

Strategic currency reserves of Azerbaijan increased by 3.4% or USD 1.7 bln. in January-September of this year and amounted to USD 52,5 bln., said chairman of the Central Bank Elman Rustamov in an online press conference on parameters of interest rate corridor, Baku Tribune reports.

France's Q3 growth sharpest in 50 years - Le Maire

The growth that the French economy has recorded in the third quarter hasn't been observed in the last 50 years, the country's Finance Minister Bruno Le Maire (pictured) said on Friday.

Europe opens mixed following earnings

Major stock markets in Europe opened mixed on Thursday as investors reflected on company earnings and prepared for upcoming financial reports. Airbus, Unicredit, Volkswagen, Shell, Stellantis and Total already published their earnings results prior to the opening bell.

Asian stocks trade lower as inflation woes linger

Shares in the Asia-Pacific region traded with losses on Wednesday, as worries related to the spread of COVID-19 and inflation seemingly mounted among traders.

Gas prices increase on world markets

The price of futures quotes for natural gas at the NYMEX (New York Mercantile Exchange) has increased, Baku Tribune reports

Gas prices may climb to $3,000 per 1,000 c/m amid fuel crisis, says expert

The current energy crisis could bring gas prices to $3,000, or even higher, when China starts securing its supplies, Mamdouh Salameh, an international energy economist and visiting professor of energy economics at the ESCP Europe Business School in London, said in an interview, Baku Tribune reports citing Sputnik.

Azerbaijani oil price surpasses USD 83

The price of Azeri Light (CIF) crude oil has increased on the world market, Baku Tribune reports.

Eurozone manufacturing PMI sees largest drop since April 2020

The eurozone Purchasing Managers’ Index (PMI) for the manufacturing sector registered the largest drop in September since April 2020 as supply-side constraints continued to impact goods producers, according to data released on Friday.

Oil up over estimated fall in US crude stocks, tight supply

Oil prices increased on Wednesday on the back of an estimated decrease in US crude inventories, while tight supply after two hurricanes in the US Gulf of Mexico, and soaring demand is also supporting further price gains.

Oil prices jump on world markets

Oil prices have increased on the world markets.

Azerbaijan, Russia agreed on seasonal gas swap

Azerbaijan and Russia agreed to cooperate in seasonal natural gas swaps. The relevant contract was signed between Azercontract and Gazprom, the Azerbaijani news agency Report said on Tuesday.

Turkey was Azerbaijan’s top importer among OIC countries

Turkey, Tunis and Libya were the top three importers of Azerbaijan among OIC countries in January-May of this year, according to the country’s State Customs Committee.

Azeri Light crude price exceeds $76.5

Azerbaijani oil price has increased on the world markets.

BP invests $7 million in electric vehicle charging technologies

BP invested $7million in smart electric vehicle (EV) charging firm, IoTecha, leading a $13.2 million investment round, the company said in a statement Tuesday.

Oil prices jump on world markets

On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil rose $0,25 to trade at $75,15, while the price of Light crude oil at the NYMEX (New York Mercantile Exchange) increased $0,02 to stand at $73,68.

Azeri Light crude sells for $74,54

Azerbaijani oil price has increased on the world markets.

Azerbaijani oil sells for more than $75

Azerbaijani oil price has increased on the world markets.

Journalists got acquainted with the EU projects in Azerbaijan

Media representatives continue to get acquainted with the projects implemented by the European Union in the regions of Azerbaijan.

Oil prices jump on world markets

Oil prices have increased on the world markets.

Azeri Light crude sells for $71,80

Azerbaijani oil price has increased on the world markets.

Oil prices jump on world markets

Oil prices have increased on the world markets.