Baku, Azerbaijan (CNN) – Sitting in the middle of the Caucasus, on the shores of the landlocked Caspian Sea, Azerbaijan is a nexus of trade routes from Asia to Europe. Now, a new port for the capital Baku and huge investment in transport routes mean new potential for the region’s exports.
In Azerbaijan, carpet weaving is a centuries-old tradition, dating back to ancient Persia. Vidadi Muradov, director of the Azer Ilme carpet factory, told CNN’s Becky Anderson: “The new port is being built right now, and it's actually important for us because it gives us more options to open up to the world and export our goods, including carpets. It gives us a proper gateway to the world.”
The Caspian Sea and its shipping lanes were once vital to the region’s exports, part of what was known as the maritime Silk Way.
(CNN) - Facebook, which launched its blockbuster initial public offeringWednesday, is the undisputed social media king of the U.S. and Europe.
But as the West approaches saturation point with the site, Facebook is looking to emerging markets like Brazil and India to fuel its next stage of growth.
The company seeks to raise up to $5 billion, according to documents filed Wednesday. That represents the largest global IPO ever by an Internet-focused company, according to data from Dealogic. Google's $1.9 billion debut is currently the largest U.S. Internet IPO.
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