Business

07 May 2006 [13:00]

Shah Deniz Project continued to progress according to schedule

The Shah Deniz gas and condensate development project has continued to progress according to schedule since the beginning of 2006.
06 May 2006 [19:11]

Artur Rasizade holds talks with Kazakh Premiere on Caspian pipeline

Kazakhstan calls for building Aktau-Baku pipeline in Caspian Sea.
06 May 2006 [16:18]

Azerbaijan starts to export sugar

Azerbaijani Sugary Production Association has exported its first products to Georgia today.
06 May 2006 [14:08]

New flights on Vilnius-Baku route

Flights have started on Vilnius-Baku airline this week. Airline travels are run twice a week, on Wednesday and on Sunday by Air Baltic Company.
06 May 2006 [11:47]

Azerbaijan's foreign debt grows 5.5% in Q1

Azerbaijan's foreign debt grew 5.48% to $1.741 billion in the first quarter of 2006.
05 May 2006 [16:45]

International exibition "CEM/CleanExpo-2006" to open

The 2nd Azerbaijan international exhibition of Electronics and Household Appliances, hygiene facilities "CEM/CleanExpo-2006" will open in Baku May 11 at the Heydar Aliyev Sport and Concert complex.
05 May 2006 [16:41]

Accounts Chambers of Ukraine and Azerbaijan sign cooperation agreement

The agreement on cooperation between Counting Chambers of Ukraine and Azerbaijan was sealed on May 4.
05 May 2006 [14:24]

Trade turnover rise

The natural and juridical persons were involved in foreing trade with 112 countries in January-March this year.
05 May 2006 [13:00]

Ali Abbasov visits UAE

Ali Abbasov, Communication and Information Technologies minister starts official visit to United Arab Emirates May 5 on invitation of Sultan bin Said Mansouri, Minister of the State sector development of the Emirates.
05 May 2006 [09:02]

Huseyn Arabul: "We are going to sue state structures, unless they shortly pay their debts"

"Barmek-Azerbaijani Electricity Company LLC raised a question vis-?-vis the Economic Development Ministry on violation of stipulations of its agreement with the government and some state structures’ not paying their electricity fees," Company President Huseyn Arabul stated.
05 May 2006 [08:44]

Special Commission to check the contract between Barmek and Ministry of Economic Development

Ministry of Economic Development has organized special commission to check the fulfillment of the contract signed between the Ministry and Barmek-Azerbaijan Energy Network Limited Liability Company (LLC).
04 May 2006 [13:42]

State Security Committee has registered first mortgage credit paper

Anar Ahmadov, Department Head of the Committee says the paper may be issued to any natural or juridical person giving credits.
04 May 2006 [13:10]

President of SOCAR meets Likoil delegation

Rovnag Abdullayev, President of Azerbaijan State Oil Company (SOCAR) met May 3 with the delegation of "Lukoil Overseas Holding" Ltd led by its Vice President Azat Shamsuarov.
04 May 2006 [08:46]

Azerbaijan will chair ECO

In the meeting of Economic Cooperation Organization to be held in Baku May 5, chairmanship will be transferred to Azerbaijan from Tajikistan.
03 May 2006 [16:53]

Ministry of Taxes ratifies regulations on municipality taxes

Fazil Mammadov, the Minister of Taxes, ratified the package of regulations on the right of municipalities to collect taxes.
03 May 2006 [13:30]

International conference on law and legal reforms to be held in Baku

An international conference entitled "Law and Legal State: legal reforms in Azerbaijan" is due to be held May 3 in Baku, with representatives of Azerbaijan Armed Forces in attendance as well.
03 May 2006 [12:39]

Topaz eyes investment in Azerbaijan

A Topaz delegation visited Azerbaijan in the Caspian region to hold discussions with SOCAR.
03 May 2006 [12:30]

Crocus to build a complex for PBL to be first overseas group to run casino in Russia

Australian media and gaming group to run a casino in Russia's capital
03 May 2006 [12:22]

Work on INAM PSA in progress

In the INAM Production Sharing Agreement (BP 25% and operator, SOCAR 50% and Shell 25%) planning of the INX-2 well has now moved into the final stage.
03 May 2006 [12:16]

Minister of Communications to visit UAE

Ali Abbasov, Azerbaijani Minister of Communication and Information Technologies will leave for UAE on May 6-7.
03 May 2006 [11:19]

Foreign currency trading hikes

The Baku Interbank Currency Exchange (BICEX) has defined the list of banks - leading operators of foreign currency exchange market in April 2006.
02 May 2006 [17:27]

Stock exchange rate reached 6, 29%

Market rate of national currency reached 0,59% this April, Baku bank stock exchange informs.
02 May 2006 [15:31]

Azerbaijan ready to commence construction of fibre-optic line to Kazakhstan

The governments of Kazakhstan and Azerbaijan are intensifying construction of a joint fibre-optic line on the bottom of the Caspian Sea between Siazan (a town 120 km North of Baku) and Aktau.
02 May 2006 [15:26]

Protocol on amendments to Kazakhstan-Azerbaijan treaty ratified

Deputies of the Senate of the Parliament of Kazakhstan have passed the Law On ratification of a Protocol on amendments to the Treaty between the Governments of Kazakhstan and Azerbaijan on free trade as of June 10, 1997.
02 May 2006 [15:14]

President accepted Statoil Head

The Azerbaijani President, Ilham Aliyev accepted delegation from the Norwegian oil company, Statoil and its president, Helge Lund in charge.
02 May 2006 [13:05]

Azeri delegation attends Asian Development Bank annual meeting

The 39th annual meeting of Asian Development Bank (ADB), which to gather delegations of ADB member states, heads of international financial structures, donor organizations, businessmen and mass media representatives will take place May 3-6 in Hyderabad (India), press-service of Ministry of Economic Development said.
02 May 2006 [09:53]

25 million tonnes of Kazakh oil per annum to be pumped via BTC

The agreement on the transportation of Kazakh oil via the Baku-Tbilisi-Ceyhan (BTC) pipeline between Kazakhstan and Azerbaijan provides transportation of 25 million tonnes of Kazakh oil per annum, Abbas Abbasov, Vice Premier of Azerbaijan, told journalists.
02 May 2006 [08:55]

Economic Ministry Committee established for working with "Barmek"

Though "Barmek" Azerbaijan Open Joint Stock Company has paid part of its debts for March, it will not be able to pay for the energy obtained with regard to freezing the bank accounts, "Barmek Azerbaijan Electricity Liability Network" Limited Liability Company President, Huseyn Arabul stated.
02 May 2006 [08:35]

Two additional oil-wells are expected to be drilled in "Guneshli"

Representatives of State Oil Company (SOC) have visited oil-production platform No.19 in "Guneshli".
02 May 2006 [08:32]

"International Insurance Company" obtained ISO-9001 certificate

"International Insurance Company" (IIC) has held audit of management system aimed at getting ISO-9001 certificate.
02 May 2006 [08:05]

Examination takes place among large tax-payers

Ministry of Labor and Social Protection in cooperation with Ministry of Taxes examines the situation in the legalization of job contracts between employers and employees among large tax-payers.
01 May 2006 [21:44]

Conference for prevention of terrorist attacks on oil&gas pipelines held in Baku

A 3 day conference dedicated to the prevention of terrorist attacks on oil and gas pipelines is taking place in Baku.
01 May 2006 [17:47]

Violations found in Baku furniture workshops activity

Violations of environmental safety were found in Baku wood processing and furniture workshops in the course of the raids conducted by the Ministry of Ecology and Natural Resources.
01 May 2006 [16:03]

Report on corruption by National Businessmen Confederation to be discussed in Baku

National Businessmen Confederation of Azerbaijan (NBCA) is leading the next round table for legal entities and local executive power bodies May 3 in Baku. This discussion is devoted to the report on corruption.
01 May 2006 [15:42]

Most of defense expenditures go to infrastructure development

The Georgian defense minister, Iraklii Okruashvili provided information about major expenditures of the Georgian defense ministry in 2005, speaking at the ceremony commemorating 15th anniversary of Georgian armed forces in military base in Senaki.
01 May 2006 [14:23]

Asker Mamedov: "There are huge objectives set before the International Bank"

Exclusive interview of Day.Az with Asker Mamedov, Deputy Chairman of the Board of the International Bank of Azerbaijan.
01 May 2006 [13:51]

Azerbaijani delegation to participate in conference of TRACECA

Azerbaijani delegation led by the Minister of Transport Ziya Mammadov will participate in the 5th conference of TRACECA (Transport Corridor Europe Caucasus Asia) Intergovernmental Commission due to be held in Bulgarian capital, Sofia, May 2-3.
01 May 2006 [13:35]

13th International Caspian Oil and Gas Exhibition to be held in June

The 13th International Caspian Oil and Gas Exhibition incorporating Refining and Petrochemicals will take place June 6-9 at the Heydar Aliyev Sport and Concert Complex, Baku.
01 May 2006 [12:48]

US Professor to discuss rational use of oil revenues in Azerbaijan

Ph.D. Mike Rose, US scientist, will arrive in Baku to participate in the discussion on rational use on oil revenues in Azerbaijan.
01 May 2006 [09:23]

TPG 500 successfully deployed offshore

BP, as the operator of the Shah Deniz gas and condensate development project, has now successfully deployed and installed the TPG 500 platform at its permanent location in the Shah Deniz gas-condensate field in the Caspian Sea, approximately 100 km to the south of Baku.
01 May 2006 [09:14]

SOCAR calls sixth 2006 Azeri Light tender

The State Oil Company of the Azerbaijani Republic (SOCAR) announced a tender for the sixth consignment of Azeri Light crude oil produced at Azerbaijan's Azeri- Chirag-Gunashli (ACG) fields this year.
01 May 2006 [08:58]

International action connected to BTC Oil Pipeline starts today

Press-conference on international action "Baku-Tbilisi-Ceyhan (BTC) Oil Pipeline named after Heydar Aliyev is guarantee of peace, security, stability and development in the region" was held by the National Confederation of Azerbaijani Women and Yeni Azerbaijani Party.
01 May 2006 [08:50]

Kazakhstan oil to be transported by Caspian Sea Navigation tankers

Crude oil to be transported to our country mainly by Azerbaijani ships which will be transported through BTC pipeline.
29 April 2006 [20:01]

Abbas Abbasov: "Azerbaijan and Kazakhstan have potential for multilateral economic development"

The 4th meeting of the Azerbaijani-Kazakh commission on economic cooperation started its work in Baku on 29 April.
29 April 2006 [19:47]

Construction of deepwater Gunashli facilities nears halfway

Construction of facilities for the Phase 3 expansion of the Azeri-Chirag-Gunashli (ACG) field, which involves developing the deepwater Gunashli reservoir off Azerbaijan, is nearly halfway to completion.
29 April 2006 [19:37]

UAE's TOPAZ explores investment opportunities in Azerbaijan

Topaz Energy and Marine Ltd Chairman Samir Fancy led a high-level delegation consisting of Board Directors and Senior Management to Azerbaijan in the Caspian region to hold discussions with State Oil Company Azerbaijan Republic (SOCAR) President, Rovnag Abdullayev in Baku recently.
29 April 2006 [09:23]

Huseyn Arabul: "Inspections left "Barmek" in a loss with millions of dollars"

"Inspections held in "Barmek" has also influenced the image of the company negatively," and left "Barmek" in a loss with millions of dollars, the Company President Huseyn Arabul has told.
29 April 2006 [08:47]

Health Ministrystopped 66 drug stores'activity

Health Ministry Innovation and Supply Center have revealed drugs being kept in illegal condition, not having license.
29 April 2006 [08:20]

AIT Travel Company to provide tourism services for ordinary citizens

The Azerbaijan International Travel (AIT Travel) Company intends to open a new office for development of nonprofit tourism.
28 April 2006 [16:10]

Module power station to be build at ex-BakTez2

One of the 5 module stations, scheduled to be build in Azerbaijan in 2006 will be constructed at the territory of the currently functioning Baku oldest electric station (ex BakTez- 2).
28 April 2006 [14:56]

SOCAR gained 2,3% advantage after purchasing its share of ACG

Purchasing $750m of syndicated credit from Azerbaijan Limited (ACG), was significant success for SOCAR, the company did not have its own financial rating.
28 April 2006 [14:16]

SOCAR might announce gas exploration tender

The Azerbaijan State Oil Company (SOCAR) is not currently discussing the issues of the free-laying gas exploration at Azeri-Chiraq-Guneshli field (ACG) with the Azerbaijani International Operative company (AIOC), the SOCAR first Vice-president on geology and geo-physics, Hoshbaht Yusifzadeh stated.
28 April 2006 [09:07]

Foton Motors Company to start importation of Isuzu trucks by the end of year

The Foton Motors Company, official dealer of the Beijing Foton Motors Co Ltd. (China) in Azerbaijan, intends to start importation of 3-ton Isuzu trucks of Chinese production to our country by the end of the current year.
28 April 2006 [09:02]

Government experts discuss agreement on transportation of Kazakh oil via BTC

Experts from the governments of Azerbaijan and Kazakhstan discussed the draft intergovernmental agreement on the transportation of Kazakh oil via the Baku-Tbilisi-Ceyhan (BTC) pipeline on the eve of the fourth meeting of the intergovernmental commission for economic co-operation due to take place April 29 in Baku.
28 April 2006 [08:52]

IBAR Chairman to address 6th Business and Investment Meeting of USACC

International Bank of Azerbaijan Chairman Jahangir Hajiyev, head of the oil-rich Republic of Azerbaijan's largest commercial bank, will address non-oil sector investment opportunities and developments at the 6th Business and Investment Meeting of the US-Azerbaijan Chamber of Commerce (USACC) on Thursday, April 27, at the Four Seasons Hotel in Washington, DC.
28 April 2006 [08:33]

Branches of two Russian plants will be opened in Azerbaijan

The Elektropribor plant and Amtel-Chernozemye tire complex of Russia plan to establish their branches in Azerbaijan. Negotiations are underway at present.
27 April 2006 [23:47]

New Head of Azercell appointed

New director was appointed to the Joint Venture Azercell Telecom.
27 April 2006 [23:15]

President Aliyev spoke at the 6th Business and Investment Meeting of USACC

The Azerbaijani President, Ilham Aliyev presented report at the 6th Business and Investment Meeting of the US-Azerbaijan Chamber of Commerce (USACC) on Thursday, April 27, at the Four Seasons Hotel in Washington, DC.
27 April 2006 [16:23]

BTC sanctioning ceremony due in Ceyhan July 13

A ceremony of sanctioning of the Baku-Tbilisi-Ceyhan (BTC) main export oil pipeline is scheduled for July 13, 2006.
27 April 2006 [13:27]

Azerbaijan has branched international railway system

The 21st meeting of the general directors of the Organization of Railway Cooperation (ORC) started in Baku 27 February.
27 April 2006 [13:04]

Turkey plans decrease dependence its energy on oil

Hilmi Guler, the Turkish Minister for Energy and Natural Resources, sated to symposium on Energy and Development of Turkey that it is necessary to think of nuclear power in case the prices of oil reach $75-77.
27 April 2006 [12:55]

Forbes Magazine on President Aliyev's visit to the U.S.

Forbes online magazine published an article "Do As I Say, Please" by Matthew Swibel on the Ilham Aliyev's visit to the United States.
27 April 2006 [12:49]

Voluntary declaring increases 4% in Azerbaijan

As of 2005, in compliance with the exact data, 93.1% has submitted declarations on income taxes of physical entities and profit taxes of legal entities on voluntary basis, which exceeds 2004 figure by 3.8%, Elchin Mammadov, the Head of the Taxpayer Service Department of the Azerbaijani Taxes Ministry informs.
27 April 2006 [12:47]

Georgia seeks to buy more cheap Shah-Deniz gas

Georgian Energy Minister Nika Gilauri said on April 26 that Georgia wants the right to purchase more gas shipped through the Baku-Tbilisi-Erzrum pipeline at a reduced price than is envisaged by the current contract.
27 April 2006 [12:26]

Azeri-Nigerian business forum postponed

The first Azeri-Nigerian business forum, initially scheduled in Baku for Thursday, has been postponed indefinitely due to a number of technical issues.
27 April 2006 [09:00]

Cooperation with Russia's regions to be continued

An agreement on economic-trade and cultural cooperation will be signed between Voronezh province of Russia and Azerbaijan soon.
27 April 2006 [08:59]

IBA enables paying bills through ATMs and Internet

The Aztelecom Production Union enabled clients of the International Bank of Azerbaijan (IBA) to pay for international and long-distance phone calls through automatic teller machines (ATM) of IBA and Internet Banking service.
27 April 2006 [08:57]

Ministry of Taxes is preparing State Program on transition to general tax return system

The Ministry of taxes is studying the international experience for preparation of the draft of the State Program on transition to the general tax return system.
27 April 2006 [08:55]

Decrease of gas volume supplied to population related to transition to summer season

Decrease in the volume of gas supplied to consumers in the territory of the republic is related to transition to the summer season.
27 April 2006 [08:53]

Banks and Finance Conference to be held June 13-14

On June 13-14 Banks and Finance Conference will be held in the Grand Hotel Europe in Baku.
27 April 2006 [08:49]

BakGas revealed over 20 citizens who intervened in work of gas supply meters

The Baku city Head Production Gas Office (BakGaz) revealed over 200 citizens who intervened in the work of gas supply meters installed in houses.
27 April 2006 [08:49]

Assets of International Bank of Azerbaijan reached AZN 1.236 bln

In January-March of the current year the assets of the International bank of Azerbaijan (IBA) reached AZN 1,235.972 mln.
27 April 2006 [08:48]

Trade Representation of Russia to be opened in Azerbaijan

The Trade Representation of Russia is expected to start activity in Baku by the end of May.
27 April 2006 [08:46]

New norms to be valued in AzerEnergy

Labour protection and adherence to technical security norms to be valued in structural units of AzerEnergy.
27 April 2006 [08:43]

Adzharia is interested in cooperation with Azeri tourism companies

The Tourism and Resort Department of the Adzharia Autonomous Republic of Georgia is interested in establishment of cooperation with Azeri tourism companies.