One of the more prominent institutions headquartered in Baku is the International Bank of Azerbaijan, which employs over 1,000 people. In 1813, following the Russo-Persian War of 1804–1813, Qajar Iran was forced to sign the Treaty of Gulistan with Russia, which provided for the irrevocable cession of Baku and most of Iran's territories in the North Caucasus and South Caucasus to Russia. Many words in the current Azeri vocabulary are in fact of Pahlavi origin. Winter is cool and occasionally wet, with the daily mean temperature in January and February averaging 4.3 °C (39.7 °F). The Baku Stock Exchange is Azerbaijan's largest stock exchange, and largest in the Caucasian region by market capitalization.

The World War II Battle of Stalingrad was fought to determine who would have control of Baku oil fields. [124], Baku Port was founded in 1902 and since then has been the largest Caspian Sea port.

The city is growing dynamically and developing at full speed on an east–west axis along the shores of the Caspian Sea. From 1922 to 1930, Baku was the venue for one of the major Trade fairs of the Soviet Union, serving as a commercial bridgehead to Iran and the Middle East.[37]. [14] Near Nardaran, in a place called Umid Gaya, a prehistoric observatory was discovered, where on the rock the images of sun and various constellations are carved together with a primitive astronomic table.

According to the 2009 census of the country it is spoken as a native language by 92.5% of the population whereas Russian and English play significant roles as languages of education and communication. The independence of the Azerbaijani republic was significant but a short-lived chapter. [38] Thousands of buildings from the Soviet period were demolished to make way for a green belt on its shores; parks and gardens were built on the land reclaimed by filling up the beaches of the Baku Bay. Since about 1921, the city was headed by Baku City Executive Committee, commonly known in Russian as Bakgorispolkom. BakuCard is a single Smart Card for payment on all types of city transport. The Hamam is open to women on Mondays and Fridays and to men on the other days of the week. Baku is also featured in the video game Battlefield 4.[98].

Along with its modern amenities, Teze Bey features a swimming pool and architectural details inspired by Oriental, Russian and Finnish baths. In the post-WWII period, a few more universities were established such as Azerbaijan Technical University, Azerbaijan University of Languages and the Azerbaijan Architecture and Construction University. In the vicinity of the city there are a number of mud volcanoes (Keyraki, Bogkh-bogkha, Lokbatan and others) and salt lakes (Boyukshor, Khodasan and so on). The medieval author Ibn al-Nadim, in his book Al-Fihrist mentions that all the Median and Persian lands of antiquity (including what is today the Republic of Azerbaijan) spoke one language. The city walls of Baku were also rebuilt and strengthened. Western-style clubs target younger, more energetic crowds. Because of its intermittent periods of great prosperity as well as being the largest city in the Caucasus and one of the most ethnically and culturally diverse in the Soviet Union, Baku prides itself on having produced a disproportionate number of notable figures in the sciences, arts and other fields. This is largely because of its northerly latitude and the fact that it is located on a peninsula on the shore of the Caspian Sea. The existence of petroleum has been known since the 8th century. The school address is: No.

The Baku International Sea Trade Port is capable of handling two million tonnes of general and dry bulk cargoes per year. It is adjacent to the newly built International Centre of Mugham and the musical fountain. In 2001, the then President of Azerbaijan Heydar Aliyev issued a statement whereby "the Republic of Azerbaijan is not in the power to guarantee the implementation of the Charter regulations until its territory occupied by the Republic of Armenia is liberated".[11].

By 1900 the city had more than 3,000 oil wells, of which 2,000 were producing oil at industrial levels. [10], Azerbaijan has not ratified the European Charter for Regional or Minority Languages to which it became a signatory in 1992, under the Popular Front. The city also annually hosts the international tournaments such as Baku Chess Grand Prix, President's Cup, Baku Open and bidding to host 42nd Chess Olympiad in 2014. These Indian traders built the Ateshgah of Baku during 17th–18th centuries; the temple was used as a Hindu, Sikh, and Parsi place of worship. The city's second largest stadium, Tofiq Bahramov Stadium hosts a number of domestic and international competitions and was the main sport centre of the city for a long period until the construction of Baku Olympic Stadium. It has been home to legendary jazz musicians like Vagif Mustafazadeh, Aziza Mustafa Zadeh, Rafig Babayev and Rain Sultanov. Clubs with an eastern flavour provide special treats from the cuisine of Azerbaijan along with local music.