Business

13 September 2005 [10:02]

Turkey plans to receive up to $200 million as direct revenues from BTC project

During the first 16 years of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline operation Turkey expects to receive up to $200 million direct revenues along with the indirect ones, the official site of the Turkish Botas company, engaged in the BTC construction on it’s country’s territory says.
13 September 2005 [09:51]

Plants also will be insured in Azerbaijan

Plants will also be insured in Azerbaijan.
13 September 2005 [09:00]

Government and commercial mission of Oklahoma state is in Baku

A delegation of government and commercial representatives from the U.S. state of Oklahoma is visiting Baku from September 11 to September 16, 2005.
13 September 2005 [08:41]

Ministry of Communications invested about $14 million in it-sphere

The Ministry of Communications and Information Technologies (MCIT) of Azerbaijan invested 62715,7 million AZM ($13,69 million) for the 8 months of the current year.
13 September 2005 [08:33]

Ganja automobile factory to assemble uaz cars of 14 modifications

The Ganja automobile plant (GAP) has set up assembling of cars of different models of the Ulyanovsk Automobile Plant (UAP).
13 September 2005 [08:29]

International conference on liberalization of electric energy market held in Baku

The International Conference on liberalization of energy and Azerbaijani electric energy distribution model was held at Ataturk Center in Baku.
09 September 2005 [10:05]

Azerbaijan and Bulgaria plan to sign agreements in agricultural sphere

During the expected official visit of the Azerbaijan’s President Ilham Aliyev to Bulgaria signing of two agreements in the agricultural sphere is planned. Among the documents is a convention in the veterinary sphere and phyto-sanitation, as well as an agreement on cooperation in the quarantine and protection of plants areas.
09 September 2005 [09:59]

Delegation of executive directors of Asian Bank of Development plans to visit Azerbaijan

Members of the Asian Development Bank's Board of Directors will visit Azerbaijan from 10-14 September 2005.
09 September 2005 [09:32]

Exhibition on domestic tourism to be held in Baku

The exhibition on the domestic tourism in Azerbaijan will be held on 1 October 2005 in Baku.
08 September 2005 [11:12]

Deputy minister Natik Amirov commented on situation with Garadag Cement

"It is the right of any tax payer to apply to the court in case he does not agree with the decision of the tax body.”
08 September 2005 [10:41]

Ilham Aliyev: “Targeted economic policy enabled to implement radical changes in economic development of Azerbaijan”

Radical changes, carried out in Azerbaijan for the last years and the targeted economic policy enabled to implement fundamental changes in the economic development.
08 September 2005 [10:02]

Azerbaijan needs up to 8 billion cubic meters gas a year for meeting its domestic demands

Azerbaijan needs 7-8 billion of cubic meters of gas a year for meeting its domestic demands.
08 September 2005 [10:00]

Old currency bills to be removed from the circulation in Azerbaijan by 1 January 2007

Old currency bills will remain in the circulation for a year, and be removed from the circulation by 1 January 2007.
08 September 2005 [09:34]

Consultations on development of Azerbaijani-Polish relations to take place in Warsaw

A delegation headed by the Vice-Premier of the Azerbaijan’s government Abid Sharifov is in Warsaw now.
08 September 2005 [09:32]

Two prices to be shown on goods in Azerbaijan starting from 1 October

The prices of goods will be shown by both old manat and new manat in all retail shops and purchase and sale objects by 1 October.
08 September 2005 [09:03]

BTC Co board of directors to sit in Ankara

The Board of Directors of ??? ?? will hold a meeting in Ankara, Turkey, on Friday.
08 September 2005 [08:59]

New Polish ambassador intends to develop economic relations with Azerbaijan

“The political relations between Azerbaijan and Poland are in the highest level, but we have good opportunity to develop economic relations, particularly, increase goods turnover.”
07 September 2005 [10:24]

Iteca Caspian Ltd probable to hold exhibitions in regions

“Iteca Caspian Ltd does not rule out the organization of exhibitions in the regions of Azerbaijan by the end of the year.”
07 September 2005 [08:53]

The 3rd International Furniture, Interior and Design exhibition starts in Baku tomorrow

An opening ceremony of the 3rd Azerbaijan International Furniture, Interior and Design Exhibition will be held in the Sport and Exhibition Complex today.
07 September 2005 [08:48]

Labour fair will be held in Baku on October 14-15

The Employment Head Office of the Ministry of Labour and Social Protection of Population will hold 9 labour fairs in the regions till the end of September.
07 September 2005 [08:42]

Opening ceremony of the gas compressor station near Astara will take place this week

An opening ceremony of the gas compressor station (GCS) near Astara town at the Azerbaijan-Iranian border will take place this week in the framework of the project on restoring the gas supply to the Nakhchevan Autonomous Republic (NAR), deputy chairman of the Joint Stock Company (JSC) Azerigaz Nasim Samedzade told the news conference on 6 September.
06 September 2005 [09:32]

Exhibition of Iranian goods due

An exhibition of industrial goods, made in Urmin Province of Iran will be held at the Palace of Hand Games in Baku from 6 to 8 September 2005, the Iranian embassy in Azerbaijan told Trend.
06 September 2005 [08:45]

National Bank has no special action plan on removing false money off the circulation

“All the state organizations, especially law enforcement bodies should prevent the spread of false money in the republic.”
06 September 2005 [08:12]

Garadagh Cement invested $10 million in 2005

The Open Joint Stock Company (OJSC) Garadagh Cement invested in the amount of $10 million in 2005.
05 September 2005 [09:22]

The length of automobile roads of Azerbaijan is more than 18 thousand kilometers

The general length of motor roads good for using in the territory of the country is more than 18 thousand kilometers.
05 September 2005 [09:11]

Tax changes due in 2006

Rate of profit tax may be reduced by 4%. Thus, it may be decreased from 24% to 20%, Azer Bayramov, the deputy Minister of Finance told Trend.
05 September 2005 [08:58]

50% of alcoholic drinks and 20% of cigarettes sold in Azerbaijani market are fake

50% of alcoholic drinks and 20% of cigarettes sold in Azerbaijani market are faked-up.
05 September 2005 [08:55]

?IOC to start paying profits tax since 2005

The Azerbaijan International Operation Company (AIOC), developing the oil fields block “Azeri-Chirag-Gyuneshli” (ACG) will start paying the profits tax in the current year.
05 September 2005 [08:50]

International conference on liberalization of energy and its distribution due

An international conference on liberalization of energy and its distribution will be held in Baku, Husseyn Arabul, the President of Barmek Azerbaycan, told Trend.
03 September 2005 [12:50]

Finance Minister Avaz Alakbarov gave press conference on state budget 2006

Finance Minister Avaz Alakbarov today held a press conference on the 2006 state budget.
03 September 2005 [12:14]

First Airbus "A319" will arrive to Azerbaijan

The first Airbus "?319" purchased by the State Concern “Azerbaijan Hava Yollari” (AZAL) will arrive in Azerbaijan today at 18:00 p.m., the State Concern told Trend.
03 September 2005 [12:08]

USA provides annual assistance to Azerbaijan for $90 million

28% of the annual volume of foreign investments to Azerbaijan fall at the share of the American business.
03 September 2005 [12:03]

?zerbaijan raised index of budget forecast of oil price up to record of $40/barrel

The Finance Ministry of Azerbaijan specified the forecast oil price for 2006 at the level of $40 per barrel.
03 September 2005 [11:56]

International Monetary Fund Mission ended its visit to Baku

An IMF mission led by Mr.Vitali Kramarenko, mission chief for Azerbaijan (Middle East and Central Asia Department), visited Baku from August 24-31, 2005.
03 September 2005 [11:54]

State investment company will be established in Azerbaijan

The state investment company will be established in Azerbaijan. About $100 million is planned to allocate from the state oil budget of Azerbaijan for its capitalization.
03 September 2005 [11:46]

Agriculture Minister met with USA Trade and Development Agency director on Europe and Eurasia region Daniel Stain

Agriculture Minister Ismet Abbasov met with USA Trade and Development Agency director on Europe and Eurasia region Daniel Stain.
03 September 2005 [11:20]

New insurance company to be established to prevent capital outflow

A new company titled ‘National Repeated Insurance Company’ (NRIC) will be established in Azerbaijan.
02 September 2005 [13:25]

«Bank of Baku» started crediting tourism

The joint-stock commercial «Bank of Baku» started implementation of the project on funding tourism within the project “Consumer Crediting”.
02 September 2005 [13:19]

AIOC will ship over 400,000 tons of oil from Supsa in September

In September 2005 partners in the Azerbaijan International Operating Company (AIOC), which is involved in the development of Azeri- Chirag-Gunashli fields (ACG), plans to deliver 430,000 tons of oil from the Georgian port of Supsa through four tankers.
02 September 2005 [12:28]

Ilham Aliyev asserted the Regulations on Copyrights Agency of the Azerbaijan Republic

The head of the state Ilham Aliyev signed a decree on assertion of the regulations on the copyrights Agency of the Azerbaijan Republic.
25 August 2005 [12:07]

Representation of the “TuranAlem” bank of Kazakhstan was opened in our country

A ceremony was held at the “Europe” hotel today in connection with 80th anniversary of the “TuranAlem” bank of Kazakhstan and opening of the representation of the bank in our country.
25 August 2005 [09:36]

International Health Exhibition to be held in Baku

The 11th Azerbaijan International Health Exhibition will be held in the Sport and Exhibition Complex named after Heydar Aliyev on November 2-5.
25 August 2005 [09:14]

Goods turnover between Azerbaijan and Turkey exceeds $283 m

Since the beginning of 2005 goods turnover between Azerbaijan and Turkey comprised over $283m. the State Statistics Committee (SSC) informed Trend Azerbaijan imported $180.3m worth of goods from Turkey, or 7% of the entire import.
25 August 2005 [09:10]

Drilling equipment for RV investment will be delivered in early September

Drilling equipment for the RV Investment Services Grou? LLC will be delivered to Azerbaijan from Europe on 5-7 September this year.
24 August 2005 [09:27]

RV Investment designs proposals on development of a new gold mine in Azerbaijan

RV Investment Services Grou? LLC is currently preparing proposals to the Azerbaijani government on the development of a new gold mine ‘Chovdar’ in Dashkasan, west Azerbaijan.
24 August 2005 [09:19]

AIOC starts profit tax transfer to public budget

The Azerbaijan International Operating Company (AIOC), the biggest oil producer in Azerbaijan under PSAs, will start profit tax payment to the public starting from 2006.
24 August 2005 [09:12]

Goods for about $368 million imported to Italy

Since the start of the year the goods in the total amount of about $368 million were imported to Italy from Azerbaijan.
24 August 2005 [08:59]

SOCAR resumes export of liquified gas to Georgia

The State Oil Company of Azerbaijan (SOCAR) shipped today, on 23August 280 tons of the liquefied gas under the contract with a number of companies.
24 August 2005 [08:56]

800 “Samand” motor cars to be brought from Iran to Azerbaijan

The executive director of the Iran Export Development Bank Nouruz Kokhzadi and head of the “Elite” Azerbaijan Trade-Industry Group Ali Evsen signed an agreement on exporting 800 “Samand” motor cars produced by the “Iran-Khodrow” auto-industry group in Tehran on Monday.
24 August 2005 [08:49]

“Bayerishce Landesbank” invested 430 million euros in the economy of Azerbaijan

“Bayerishce Landesbank” acting in Azerbaijan invested 430 million euros in the economy of the country.
24 August 2005 [08:21]

Foreign monetary reserves of Azerbaijan are 1.3 times more than its foreign debt

Foreign debt of Azerbaijan still remains conservative.
24 August 2005 [08:19]

Per capita GDP exceeds $1,250 in Azerbaijan

Intensive economic development and consolidation of exchange rate of the national currency will result in rise of the per capita Gross Domestic Product (GDP) in 2006.
24 August 2005 [08:17]

Azerbaijani delegation to attend the seminar of International Labor Organization

Three-sided sub- regional seminar on labor management and state employment services for the selected CIS countries will be held in Cyprus Republic by the International Labor Organization (ILO) on 17-18 October.
23 August 2005 [10:22]

11-th Azerbaijan International Building Exhibition to be held

11-th Azerbaijan International Building Exhibition will be held in Baku on 19-22 October.
23 August 2005 [10:20]

Fourth well on “Shakh-Deniz” will enable to plan operations with TPG 500

BP as operator of the Shah Deniz gas and condensate development project, today announced that it has spudded the fourth pre-drill development well which will complete the Shah Deniz Stage 1 Pre-drilling Programme.
23 August 2005 [09:47]

Azeri Post offices to join “Western Union” system

10 post offices of Baku will be ready to receive money transfers realized by means of “Western Union” system soon.
23 August 2005 [09:44]

Export of Azerbaijan forecasted to $7.1 bn in 2006

The Ministry of Economic Development (MED) presented to the Ministry of Finances the macro-economic forecasts for 2006, Farhad Aliyev.
23 August 2005 [09:40]

Baki Telefon Rabitasi (Baki Telephone Communication) plans to provide CDMA sevices to subscribers

The Production Union (PU) Bakı Telefon Rabitasi (BTRİB), part of the Ministry of Communications and Information Technologies (MCIT) plans to provide the subscribers with the CDMA (Code Division Multiple Access) services.
23 August 2005 [09:22]

Conference on role of defense of consumers in development of national production held in Baku

On Saturday Baku hosted a conference on "The role of consumer rights protection in the development of national production in Azerbaijan”.
23 August 2005 [09:17]

SOCAR supposes, world oil prices in 2006 will not be lower of $45-50 per barrel

The State Oil Company of Azerbaijan (SOCAR) forecasts, the world oil price will not drop below $45-50 for barrel in 2006.
23 August 2005 [09:14]

Construction energy meters producing plant to end in 3 years Barmek president says

Barmek Azerbaijan company, which is involved in governing the energy networks of Baku and Sumgayit, will build a plant on the production of energy meters in the amount of $11m.
23 August 2005 [09:01]

III Azerbaijan International Furniture, Interior and Design Exhibition to be held in Baku next month

Autumn exhibition season will be opened with III Azerbaijan International Furniture, Interior and Design Exhibition.
20 August 2005 [09:38]

Head of Catel: “There are no legal grounds for MCIT to refuse to give license for cellular communication to Catel”

There are no any legal grounds for refusing to give license for performing the cellular communication services to Catel from the part of the Ministry of Communications and Information Technologies (MCIT), executive director of the Azerbaijani-American Joint Venture (JV) Catel (Caspian American Telecommunications, LLC) Sadig Gumbatov told Trend exclusively.
20 August 2005 [09:20]

IBA signs agreement with leading western banks on $56m.

On Friday the International Bank of Azerbaijan (IBA) signed an agreement with the leading western banks headed by Citigroup bank of the United States and Commerzbank of Germany on attraction of syndicate credit of $56m.
20 August 2005 [09:05]

The mission of International Monetary Fund to arrive in our country on 24 August

The economist of the department of International Monetary Fund (IMF) over Middle East and Central Asia countries, delegation headed by the leadership of the organization of mission over Azerbaijan Vitally Kramarenko will arrive in our country on August 24.
20 August 2005 [08:59]

3-day automobile fair starts in Baku

A three-day automobile exhibition started in Amburan rest center on Friday.
20 August 2005 [08:56]

Azerbaijani Micro Finance Bank starts utilization of IFC loan

The Azerbaijani Micro Finance Bank (AMFB) has started utilization of the $3m credit of the International Finance Corporation (IFC) allotted for the term of 5 years for financing micro and small credits.
19 August 2005 [10:09]

Yield of tobacco in Azerbaijan in 2005 is forecasted as 8,000 tons

Yield of tobacco leaves in Azerbaijan in 2005 is forecasted in the volume of about 8,000 tons, which is for 1300 tons more of the 2004 figure.
19 August 2005 [09:59]

For 2005-2006 Catel to invest over $10 million in communications sphere

The Azerbaijnai –American Joint Venture (JV) Catel (Caspian American Telecommunications, LLC) plans to invest over $10 million in the communications sphere of Azerbaijan.
19 August 2005 [09:44]

259,952 new jobs opened in Azerbaijan since Oct 2003

In the second quarter of 2005 a total of 42,447 jobs were registered in Azerbaijan, including 22,078 permanent jobs.
19 August 2005 [08:40]

Azeri tourism to be presented in Vienna

A presentation titled “Azerbaijan. Tourism of the God of fire country” will be held in Vienna, Austria, in Cobencel Castle on 24 August.
19 August 2005 [08:12]

Bank Turanalem opens its representtaive office in Azerbaijan

The second large bank of Kazakhstan TuranAlem (BTA) will open its representative office in Baku on 24 August and plans to buy a local bank.
09 August 2005 [10:09]

Ministry of communications invested about $10 million in it-sphere of Azerbaijan

For seven months of the current year the Ministry of Communications and Information Technologies (MCIT) invested 47 billion, 172 million manats ($9,9 million) in the telecommunications sphere of Azerbaijan.
09 August 2005 [09:27]

Georgian oil products importers suggest to wait technical re-eqipment of Azerbaijani oil refineries

(NA "Novosti - Gruziya") – The Union of oil goods producers, importers and consumers is in favour of Azerbaijan to be also in future the main supplier of motor fuel to Georgia.
09 August 2005 [09:11]

1st bonds placement of leasing company planned

The 1st auction of bonds emitted by leasing company is planned to be held at the Azerbaijan stock market next month.