Economy

Russia, Pakistan agree to build Pakistan Stream gas pipeline

Russia and Pakistan signed an agreement to build the Pakistan Stream natural gas pipeline, Russia's Energy Ministry said Friday.

Economic Watch: China's steel industry embraces green shift for carbon-cutting commitment

Forging ahead toward a greener future, China is ever more committed to transforming the steel industry into a low carbon-emitting one amid its long-term green pledges.

Meat production has been increased in Azerbaijan

In January-April 2021, 176.3 thousand tons of meat in live weight, 672.3 thousand tons of milk, 624.7 million eggs and 2.3 thousand tons of wool were produced in Azerbaijan.

UK has still made more than 30$ billion of investments in Azerbaijan

The trade turnover between Azerbaijan and the UK increased in 2019 by 34 percent and amounted to USD 704.6 million.

Oil prices jump on world markets

Oil prices have increased on the world markets.

Azeri Light crude sells for 69.26

Azerbaijani oil price has increased on the world markets.

Azeri Light crude sells for more than $69

Azerbaijani oil price has increased on the world markets.

Washington DC gas shortage reaches critical level

The majority of gas stations in the United States capital Washington DC have now run out of fuel, days after a major cyberattack forced the nation’s largest gasoline pipeline offline.

Economic Watch: Turkey-China commerce moves forward despite pandemic

Turkey and China have managed to further develop and diversify their growing trade relationship despite the COVID-19 pandemic as they celebrate the 50th anniversary of diplomatic ties this year.

Amazon’s $300M EU fine canceled

The European Court of Justice annulled on Wednesday the European Commission’s decision on ordering the e-commerce company Amazon to pay back €250 million ($303 million) plus interest to Luxembourg.

Huawei 5GtoB solution aims at 1,000 smart factories

Chinese telecoms giant Huawei announced Saturday an action plan to "light up" 1,000 smart factories with its 5GtoB solution, in a bid to accelerate China's industrialization process, Baku Tribune reports citing Xinhua.

Time to reap benefits of CPEC phase two: Pakistani official

Pakistan will start reaping the benefits of the second phase of the China-Pakistan Economic Corridor (CPEC) in the form of industrial and agricultural development and a better road connectivity, Chairman of Pakistan's CPEC Authority Asim Saleem Bajwa said.

Saudi Arabia expected to cut June crude prices for Asia: Survey

Top oil exporter Saudi Arabia is expected to cut its official selling prices (OSPs) for Asia in June, tracking weakness in Middle East benchmark Dubai and demand uncertainty amid a new wave of regional COVID-19 outbreaks, a Reuters survey showed.

Azerbaijan, Georgia discuss energy cooperation

President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev has met with Georgian Prime Minister Irakli Garibashvili as part of his working visit to Georgia, reports Baku Tribune citing Azertac.

Oil prices decrease on world markets

Price for July of 2021 agreement on the exportation of Brent crude oil has decreased by 1,91% to stand at $ 67,25 for a barrel during trade operations held in ICE London Intercontinental Exchange, Baku Tribune.

Oil prices increase

Price for July of 2021 agreement on the exportation of Brent crude oil has increased by 0.24% to stand at $ 66,94 for a barrel during trade operations held in ICE London Intercontinental Exchange, Baku Tribune reports.

Price of Brent crude oil decreases, while WTI increases

Price for July of 2021 agreement on the exportation of Brent crude oil has decreased by 0,02% to stand at $ 65,86 for a barrel during trade operations held in ICE London Intercontinental Exchange, Baku Tribune reports.

Azerbaijani oil prices slightly decrease

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

Oil prices drop on world markets

Oil prices have decreased on the world markets.

World Bank raises 2021 oil price forecast

Oil prices are expected to average $56/bbl in 2021 before rising to $60/bbl in 2022, a substantial upward revision from the October report, Baku Tribune reports.

Oil prices increase again

Price for June of 2021 agreement on the exportation of Brent crude oil has increased by 1.01% to stand at $ 67,73 for a barrel during trade operations held in ICE London Intercontinental Exchange, Baku Tribune reports.

SOCAR intends to increase production in Umid field

1,09 bln. cubic meter gas was produced from Umid gas-condensate field, located in Azerbaijani sector of the Caspian Sea, last year, which is 28.2% more in annual comparison, Deputy Chairman of Public Relations and Events Management Department of SOCAR Ibrahim Ahmadov told Baku Tribune.

Azerbaijan ranks second among Islamic Development Bank member countries towards achieving SDGs targets

Azerbaijan has ranked 2nd in terms of achieving the Sustainable Development Goals (SDGs) targets among the 57 Islamic Development Bank (IsDB) member countries, according to the new report published by the Islamic Research and Training Institute (IRTI) of the IsDB Group.

German economy probably shrank 1.8% in first quarter due to lockdown, institutes say

The German economy probably shrank by 1.8% in the first quarter because of COVID-19 restrictions, leading economic institutes said on Thursday as they revised their joint growth forecast for Europe’s largest economy, Baku Tribune reports citing Reuters.

Azerbaijani oil prices increase

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

Oil prices fall on world markets

Oil prices have decreased on the world markets.

Amazon workers vote against unionizing in Alabama

American e-commerce firm Amazon's workers on Friday voted against unionizing in the state of Alabama, according to the National Labor Relations Board (NLRB) results.

260 projects inked under China-Singapore connectivity initiative

A total of 110 business cooperation and 150 cross-border financing projects have been inked within the framework of a China-Singapore connectivity initiative, as of the end of March, according to a report released Friday.