City Baku Financial News

«I decided on Baku because I am getting a Baku Marriott Hotel Boulevard at ₹58,000 for four nights for two adults and a child,» she said. «In contrast, rates for some properties in Kovalam, Udaipur and Rishikesh are steeper than this for a night.» She's not alone. Rates for the Christmas-New Year period at many popular leisure destinations such as Varanasi are turning out to be much higher than international locations such as Danang in Vietnam, persuading many to look overseas.

Late evening on Wednesday, countries approached Zaheer Fakir of the UAE and Fiona Gilbert of Australia, co-chairs appointed by the COP29 UN Climate Conference presidency to resolve technical differences and finalise a draft text for ministerial consideration, to «streamline» a 34-page draft that had been prepared overnight after the developing country bloc G77 and China rejected a seven-page framework that the co-chairs had prepared earlier. With this all options are back on the table. Developing countries are clear that the new climate finance goal, the successor to the $100 billion plan, must be about rich industrialised countries providing the funding. Developing countries said any text that proposes shifting the burden of providing climate finance to them was unacceptable.

Donald Trump's election as the 47th President of the US.

Diplomats from across the world will descend on the Azerbaijani capital of Baku for the annual climate summit, known as COP29, to discuss how to avoid the increasing threats from climate change in a place that was one of the birthplaces of the oil indu...

Subscribe to enjoy similar stories. New Delhi: India plans to leverage its climate commitments to pitch for grants and concessional loans, instead of investments for the Global South, at the upcoming climate negotiations in Baku, two people aware of the matter said. This comes on the backdrop of the global loss and damage fund agreed upon at the Egypt accord and operationalised at COP28 failing to gain traction.

Narendra Modi is unlikely to attend the UN climate conference in Azerbaijan that Environment Minister Bhupender Yadav may also miss, official sources said on Thursday. Union Minister of State for Environment, Forest and Climate Change Kirti Vardhan Singh will lead the 19-member Indian delegation and deliver India's national statement at the high-level segment on November 18-19.

Subscribe to enjoy similar stories. Travel is undergoing a shift and while artificial intelligence is revolutionizing trip planning by providing tailored options for everyone, it may not help solve the deeper issues within the overall experience, the chief of a global travel search platform said. According to John Mangelaars, CEO of Skyscanner, policy decisions across the world—rather than technology alone—will drive changes in the sector.

Azerbaijan, the UAE, and Brazil — the past, current, and next hosts of the UN climate conference — are set to increase their combined oil and gas production by 33 per cent by 2035, contradicting their commitments to lead global efforts for stronger climate action, according to a new analysis. The analysis, compiled by the US-based research and advocacy group Oil Change International using industry data, shows that the UAE and Brazil are on track to increase production by 37 per cent and 38 per cent, respectively, by 2035. Azerbaijan, which will host COP29 in Baku in November, is projected to see a four per cent rise in production. At the last UN climate summit in Dubai in November-December 2023, leaders made a historic commitment to transition away from fossil fuels, triple renewable energy capacity and double energy efficiency by 2030. Oil Change International said that the ongoing expansion of oil and gas investments undermines these commitments.

The annual New York City Climate Week and United Nations General Assembly that's just about to start are emphasizing how to generate trillions of dollars that will be needed to help poorer countries move away from gas, oil and coal, fuels that release ...

ONGC Videsh Limited, a schedule «A» Navaratna Central Public Sector Enterprise, has announced the signing of a definitive Sale Purchase Agreement (SPA) to acquire a stake in Azerbaijan's prestigious Offshore Azeri Chirag Gunashli (ACG) oil field from Equinor ASA. According to a press release, the agreement encompasses the acquisition of a 0.615 per cent participating interest (PI) in the ACG field and a 0.737 per cent shareholding in the Baku Tbilisi Ceyhan (BTC) pipeline company through its wholly-owned subsidiary, ONGC BTC Limited. The total investment for these acquisitions is projected to be up to USD 60 million, with the deals expected to be finalized in the forthcoming months.

domestic passenger traffic in June at around 13.28 million, more than 6% from a year earlier, and nearly 10% above pre-covid levels; however, airline capacity deployment in June was up by just 7% on year and lower by 3% over May. Separately, one of the terminals of Delhi's international airport, the country’s largest and busiest, remains out of service.

COP, the annual climate catharsis festival. This year's group event is set to happen at Baku's Olympic Stadium in oil-and-gas-rich Azerbaijan from November 11 to 22. Olympic Stadium… hang on, did the ex-Soviet Union state ever...? No, the country has never hosted the 'pics.

Ayodhya grew 585 per cent in 2023 as compared to 2022. It was followed by a 359 per cent jump for Ujjain and 343 per cent rise in searches for Badrinath. It also highlighted that from Delhi, the top searched destinations were Rishikesh and Amritsar.

NEW DELHI : Baku. Khinaliq. Batumi.

BRUSSELS : The European Union is set to call for the fossil fuel industry to help pay for fighting climate change in poorer countries under a United Nations target, a draft document shows, as nations prepare for talks this year on a global finance goal. This year's UN climate negotiations in Baku, Azerbaijan, in November, are the deadline for countries to agree to a new goal of how much wealthy, industrialised nations should pay poorer ones to adjust to the most severe impacts of a hotter world.

during the COP28 summit in Dubai, unblocking a geopolitical deadlock over the next global gathering to address climate change. Two sources familiar with the discussions told Reuters countries in the regional group formally backed Azerbaijan's bid in a meeting on Saturday afternoon. ALSO READ: COP28: OPEC's 'leaked letter' leaves France, Spain 'stunned' and 'disgusted' | Here's why "We're very grateful to all countries in particular to the Eastern European group and the [COP28 summit] host United Arab Emirates for their support," the country's ecology minister Mukhtar Babayev told the COP28 summit.

India, Iran and Armenia has the potential to balance the Pakistan-Azerbaijan-Turkey axis, which has gained momentum with several engagements between Islamabad and Baku this year. The first India-Iran-Armenia trilateral aims to connect Armenia with India via Iran, ET has learnt. During a meeting in the Armenian capital Yerevan this April, the three sides discussed economic projects and regional communication channels, outlined the prospects of deepening cultural and people-to-people contacts as well as trilateral cooperation in various fields. The three countries had then decided to «continue consultations» in the format, sources recalled. The trilateral meeting also discussed the use of the International North-South Transport Corridor (INSTC) as a regional connectivity initiative. Armenia, whose ties with New Delhi are acquiring strategic dimensions, has proposed the Persian Gulf-Black Sea corridor via Iran parallel to INSTC or part of a new branch of INSTC to connect Indian traders with Russia and Europe, sources said. Given the extensive experience of Indian companies in taking part in large-scale infrastructure projects abroad and India's interest in launching the India-Europe transport corridor route via Iran and Georgia, Armenia plans to start negotiations with India to discuss the involvement of Indian funding and Indian companies into the project.

IMEC) and India-Israel-USA-UAE projects, China has launched dialogue across the region seeking to align BRI with Turkiye's Middle Corridor Initiative. Turkiye had decried IMEC, which is aimed at rivaling BRI in the region and this week's BRI summit in China is expected to witness efforts to align Ankara's Middle Corridor Initiative with BRI. The two sides recently held a high-level dialogue on the issue, ET has learnt. IMEC was announced on the sidelines of the G20 summit here in the presence of leaders of the USA, Saudi Arabia, India and Europe. Trans-Caspian East-West-Middle Corridor Initiative shortly named as 'The Middle Corridor', begins in Turkiye and passes through the Caucasus region via Georgia, Azerbaijan, crosses the Caspian Sea, traverses Central Asia and reaches China, according to a Turkish foreign ministry document.

Nagorno-Karabakh dwindled to a trickle Saturday as Armenia said nearly the entire population of the breakaway territory had already fled after Azerbaijan seized back control. An AFP journalist at the Kornidzor crossing into Armenia saw only several ambulances arrive as border guards said they were waiting for a final few buses. In the nearest town of Goris, hundreds of exhausted refugees waited amongst their baggage in the central square for the government to offer accommodation. Azerbaijan's lightning military takeover of the ethnic Armenian enclave last week sparked a sudden exodus that has rewritten the centuries-old ethnic makeup of the disputed region. Armenia said Saturday 100,417 people from an estimated population of 120,000 had fled since the breakaway region saw its decades-long fight against Azerbaijani rule end in sudden defeat. Artak Beglaryan, a former separatist official, said that according to unofficial information «the last groups» of Nagorno-Karabakh residents were on their way to Armenia Saturday. «At most a few hundred persons remain, most of whom are officials, emergency services employees, volunteers, some persons with special needs,» he wrote on social media.

By Andrew Osborn

(Reuters) — Moscow and Washington have accused each other of destabilising the South Caucuses region, as thousands of ethnic Armenians fled their homes in Nagorno-Karabakh over ethnic cleansing fears.