Business

02 December 2005 [11:54]

SCS registered emission prospectus of ordinary registered notes of "Azerdemiryolbank"

The State Committee on Securities (SCS) registered emission prospectus of ordinary registered notes of "Azerdemiryolbank" Open Joint-Stock Company (OJSC).
02 December 2005 [11:38]

"Azersun" builds third pier at Dubendi terminal

The "Caucasus Trans Service" company of the "Azersun Holding" Group of Companies builds a new pier in Dubendi terminal.
02 December 2005 [11:30]

Starting next year foreigners working in Azerbaijan will have to pay social insurance premium

The president Ilham Aliyev is expected to sign a decree on making amendments and changes to the bill "On social insurance".
02 December 2005 [11:11]

US and Azeri officials meet to discuss bilateral economic relationships

US-Azerbaijan Working Group on Economic Cooperation held a meeting in Washington where prepared a plan of action for future development.
01 December 2005 [20:36]

Russia wants to increase prices for electricity

Russia intends to raise the price of electric energy sold to Azerbaijan by the next year.
01 December 2005 [20:18]

Azpetrol denies information on dismissal of its first Vice-president Mozer

Azpetrol denied information spread by media on resignation of Tomas Mozer, the First Vice President of the Company.
01 December 2005 [14:34]

Azerbaijan's sturgeon and caviar quota will shift slightly down next year

The International Commission on Bioresources of the Caspian Sea fixed national quotas for fishing sturgeon and caviar export by Caspian countries.
30 November 2005 [03:59]

Azeri-Iranian intergovernmental economic commission will meet again in the beginning of 2006

Seventh meeting of the Azerbaijan-Iran intergovernmental economic commission will be held in Baku in January-February of 2006.
29 November 2005 [23:07]

EBRD auspices seminar in Baku on actions against money laundering

A seminar on actions against money laundering and terrorism financing was conducted on 24 and 25 November in Baku. The event was organized under the auspices of the EBRD, was financed by the Swiss State Secretariat for Economic Affairs (SECO) and was run and moderated by the UK-based Firm Lessons Learned.
29 November 2005 [22:02]

Turkish construction exhibition opens in Baku

An exhibition of Turkish construction and construction materials "Turk Inshaat-2005" opened at the Heydar Aliyev Sports and Concert Complex on Tuesday, Trend reports. Attending the opening ceremony were Abid Sharifov, the Azerbaijani Deputy Prime Minister, Turan Moraly, the Turkish Ambassador to Azerbaijan, Bulent Erten, a member of Expotim, an organizer of the show.
29 November 2005 [15:40]

Caspian Shipping Company builds two new tankers for its fleet

Caspian Shipping Company ordered two tankers of the project 19619 being built at the "Krasnoe-Sormovo" shipyard in Nijni-Novgorod,Russia will arrive in Azerbaijan by October-November next year.
29 November 2005 [14:16]

Azerbaijan's districts will have access to 195 toll-free tax information line by 2006

The Ministry of Taxes intends to enlarge coverage area of the free taxes information phone service by the next year.
29 November 2005 [13:34]

Azeri company "AzTech" participated at technological conference in framework of international SDN TECHNOLOGY TOUR `05

SAP Company held its biggest technological conference in the framework of the international SDN TECHNOLOGY TOUR `05 in Moscow where Azerbaijan was represented by AzTech Company.
29 November 2005 [13:27]

Negotiations between SOCAR and "Gazexport" promise to be not easy ones

The "Gasexport" company has already appealed to the State Oil Company of the Azerbaijan Republic to start discussions on a volume and cost of gas to be exported from Russia to Azerbaijan next year.
29 November 2005 [12:38]

T-bills auction will be held today at Baku Stock Exchange

According to the contract signed between the Baku Stock Exchange (BSE) and the Ministry of Finances, an auction on placement of T-bills will be held at the BSE today.
28 November 2005 [18:15]

Azeri oil market: results of the week

From 21 to 25 of November URAL(EX-NOVO) average price, sold by Azerbaijan in Novorossiysk port, was $49.24 per barrel or dropped $0.74 barrel, or 1.01%, as compared to the last week (14-18 Nov).
28 November 2005 [11:37]

Automated Taxes Information System will cover all republic including Nakhchivan AR

Ministry of Taxes informed APA news agency that it almost completed process of application of Automated Taxes Information System (ATIS).
26 November 2005 [19:48]

Azerbaijan will start negotiating prices for Russian gas early next month

Negotiations on gas purchase between Russian and Azebraijan may start early next month.
26 November 2005 [19:40]

Azerbaijan continues eliminating double taxation obstacles

An agreement "On elimination of double taxation for income and property between the Government of the Republic of Azerbaijan and Government of the Czech Republic and prevention of tax evasion" was signed in Prague, Czech Republic.
26 November 2005 [11:12]

"Bank Standard" has the highest volume of money transit via "Bistraya Pochta" money transfer service

"Bank Standard" shared more than half of the money transfers conducted by Azerbaijan’s banks via "Bistraya Pochta" [Express Post] system in ten months of this year.
26 November 2005 [11:06]

SOCAR rehabilitates wells at the Oil Rocks

The State Oil Company of Azerbaijan Republic(SOCAR)rehabilitated three out of ten wells on the Oil Rocks.
26 November 2005 [10:51]

Azerbaijan gets ready to repay all its debts and stop taking farther credits from international financial organizations

The government of Azerbaijan intends to repay the credits given by the international financial organizations on state guarantee, as well as interests by 2008-2010, in other words earlier than expected.
25 November 2005 [19:25]

For nine months of 2005 Azerbaijan received $30901,4 and rendered $121,9 million of financial and technical aid

The total amount of the humanitarian aid, technical assistance and gifts received by Azerbaijan in nine months of 2005 exceeded $30901,4 millions.
25 November 2005 [19:21]

IFC organizes seminar on corporative management for Azeri journalists

The International Financial Corporation will hold a seminar on corporative management for the mass media representatives who are contributing economical articles on November 29.
25 November 2005 [18:47]

South transport corridor to be reconstructed in Azerbaijan within frame of CARCS

The Asian Development Bank (ADB) plans to increase aid allocated to the development of the regional cooperation in Central Asia within three years.
25 November 2005 [12:10]

Presidential decree on ensuring execution of Manat's denomination became valid today

A decree on ensuring execution of the law on denomination of manat and other legal standard documents, issued by President Ilham Aliyev has become effective today.
24 November 2005 [19:48]

Yet goes another change in the work of Ministry of Economic Development

City and regional departments of the Ministry of Economic Development (MED) were brought under jurisdiction of the Committee on State Property Management (CSPM). The transfer was assigned by the presidential decree.
24 November 2005 [19:40]

TUSIAD presents newly published "Economy of Azerbaijan and investment opportunities" by Osman Nuri Araz

Cultural Center of "Azersun Holding" will host on November 24 a presentation of a book "Economy of Azerbaijan and investment opportunities" by Osman Nuri Araz, printed by the Turkish Industrialists’ and Businessmen’s Association (TUSIAD)
24 November 2005 [18:49]

Azerbaijan, Georgia and Kazakhstan railroad experts will meet to discuss Poti-Baku-Aktau project

Azerbaijan, Georgia and Kazakhstan railway expertsa are meeting to exchange ideas on a common project on December 5-6 in Tbilisi.
24 November 2005 [12:36]

National Bank short-term notes go on sale at Baku Stock Exchange

An auction on placement of short-term notes of the National Bank with the 50100911S state registration number was held at the Baku Stock Exchange (BSE) yesterday.
24 November 2005 [12:27]

"Bayva" is going to collect money through post offices

Electricity fee will be collected by means of post-offices in Ali Bayramli,Aghjabedi, Masalli, Lenkeran, Kyurdamir, Jalilabad, Aghdam, Fuzuli, Hajigabul, Beilagan, Ganja, Mingechevir, Barda, Tovuz, Sheki, Yevlakh, and Gabala regions by 1 December.
24 November 2005 [12:20]

Villages of Shamakhi joining to telephone communication

A new electronic KAREL ATS (EATS) with a capacity of 304 numbers was put into operation in Charkhan village of Shamakhi.
24 November 2005 [11:21]

Shamkir district authorities announced road construction tender

The Shamkir district Executive Power announced an open tender for reconstruction and repair of roads on the territory of the district.
23 November 2005 [19:21]

World Bank sends its mission to discuss project of highways reconstruction in Azerbaijan

World Bank transport mission will be on a visit to Azerbaijan that will last from November 28 till December 10.
23 November 2005 [11:44]

TRACECA Intergovernmental Commission adopted plan for 2006

6 new projects were determined for the next year at the meeting of the TRACECA Intergovernmental Commission held in Kiev last week.
23 November 2005 [11:38]

TRACECA starts three new international transportation projects

TRACECA started to carry out three new projects," informed APA news agency the TRACECA Intergovernmental Commission national secretary in Azerbaijan, Akif Mustafayev.
23 November 2005 [11:29]

Statistics Committee calculated growth in monthly wages of Azerbaijan's working population

Average monthly nominal salary of hired employees working in the economy of the country was 581,8 thousand manats in January-October of the current year. This is 21,7 percent more in comparison with the corresponding period of the previous year.
22 November 2005 [20:36]

Third Microfinance conference of Azerbaijan will take place in January, 2006

The third Azerbaijan microfinance conference will take place in Baku in January 2006.
22 November 2005 [20:33]

Technical Assistance mission of IMF will visit Azerbaijan

Head of Technical Assistance mission on Payment Balance Statistics of International Monetary Fund led by Natalia Cherpurovna will be on a visit to Azerbaijan.
22 November 2005 [20:27]

Azal opens new flight Baku-Milan

The first flight Baku-Milan was implemented today with a participation of a group of media representatives.
22 November 2005 [20:18]

"Bakcell" signed a roaming contract with Tajik "Babilon"

"Bakcell Ltd" established bilateral commercial roaming communication with "Babilon" mobile communication operator of Tajikistan, which functions on GSM 900 MHz standards.
22 November 2005 [20:11]

Azerenergy representatives visted testing of module power stations in Finland

A group of "Azerenergy" Open Joint-Stock Company specialists along with vise-president of OJSC Marlen Asgarov, director of Baku Heating Electric Enterprise #2 Gulmira Guliyeva, chief engineer of Energy Production Office Fazail Suleymanov visited Vaasa city,Finland to attend the testing of module power stations.
22 November 2005 [11:37]

"Azercell" signed roaming contract with "Celtel"

"Azercell Telecom" Joint Enterprise signed international roaming treaty with Sierra Leone’s "Celtel" company.
22 November 2005 [10:40]

Azeri oil price decreased by $5

Azerbaijani oil continues loosing in price on the world market.
21 November 2005 [19:58]

Ali Abbasov: Azerbaijan joined Tunis commitments

Azerbaijan joined the Tunis commitments by signing the final document on the second Tunis stage of the World Summit on the Information Society (WSIS) which took place in Tunis, November 16-18, the Minister of Communications and Information Technologies of Azerbaijan (MCIT) Ali Abbasov said on 21 November, Trend reports.
21 November 2005 [19:37]

Ministry of Finance annulled licence of "Londongate" and "Gunay" insurance companies

The Ministry of Finance revoked the licenses of "Londongate (Azerbaijan) Insurance Co" England-Azerbaijan Joint Closed Joint-Stock Company and "Gunay-Anadolu Insurance" Joint Enterprise for illegalities, great number of shortfalls and deficiencies found by an investigation of companies' activity.
21 November 2005 [13:27]

Media Council Monitoring Group did not record any pressure on journalists during opposition November 19 rally

No pressure on journalists was registered during the opposition’s rally organized at the Galaba square on November 19, the Media Council (MC) Monitoring Group told Trend.
21 November 2005 [13:25]

Azeri oil market: results of week

From 14 to 18 November URAL(EX-NOVO) average price, sold by Azerbaijan in Novorossiysk port, was $48.50 per barrel or dropped $1.22 barrel, or 2.5%, as compared to the last week (7-11 Nov).
21 November 2005 [13:15]

Agriculture sector received $15,000,819 of micro-credits within the last five years

Aid Agency for Development of Private Sector in Agriculture within last five years granted $4,000,011 through line of credit unions and joint debtor groups received $11,000,808 of micro-credits in the framework of the project "Crediting and Development of the Agriculture".
21 November 2005 [12:35]

Implementation of "Development and crediting of agriculture" project gets delayed again

The term of the first stage of "Development and crediting of agriculture" project, which is implemented with a financial support of the World Bank was prolonged till July, 2006.
21 November 2005 [12:24]

Delegations of GUAM countries meet in Tbilisi today

Economic forum of GUAM countries is being held today in Tbilisi, Georgia.
20 November 2005 [14:16]

Transparency Azerbaijan prepared Code of Ethics for local and joint ventures of Azerbaijan

The "Transparency Azerbaijan" organization concluded a work on a code of ethics for 10 local and joint companies acting in Azerbaijan. The project was done with a financial support and technical assistance from the "Good management programme" attached to the US Ministry of Trade.
19 November 2005 [18:24]

Consortium exceeded planned oil production by 161,4 percent

"The consortium exceeded the oil production goal by 161,4 percent in October," stated press service of the State Oil Company of Azerbaijan.
19 November 2005 [13:41]

Azeri oil refinery will receive certificate of compliance with Turkish standards

The Heydar Aliyev Oil Refinery [former Azneftyanajaq] will receive a certificate of the Turkish Institute of Standards (?SE) "TSE ISO-EN 17799" on the information security systems in early 2006, the president of the Turkish Institute of Standards Kenan Malatyaoglu told Trend.
19 November 2005 [13:32]

BTC oil has crossed Georgian-Turkish border on Friday evening

"Oil from Azerbaijan has crossed the Georgian-Turkish border through the Baku-Tbilisi-Ceyhan (BTC) oil pipeline on Friday evening," stated the Minister of Energy and Natural Resources of Turkey Hilmi Gyuler.
19 November 2005 [13:00]

Transportation Ministry was authorized to be in charge of North-Sourth transport corridor on territory of Azerbaijan

On Friday the Azerbaijani President, Ilham Aliyev signed a decree on confirmation of the Transport Ministry as authorized body for the agreement on international North-South transport corridor, signed in St. Petersburg on 12 September 2000, Trend reports.
19 November 2005 [12:41]

President appoints Gunduz Mammadov chairman of SCC

The President of Azerbaijan Ilham Aliyev signed on November 18 a decree shifting Gunduz Mammadov from the post of the first deputy chairman to the chairman position at the State Committee on Securities (SCC) of the Azerbaijan Republic.
17 November 2005 [16:35]

Document on transportation of Kazakh oil via the BTC will be signed in Baku by the end of this year

Document on transportation of oil of Kazakhstan via Baku-Tbilisi-Ceyhan main export pipeline will be signed in Baku by the end of this year.
17 November 2005 [16:21]

Passengers' problem in booking Baku -Nakhchivan return tickets solved partially

Passengers' problems in booking tickets to Baku from the Autonomous Republic of Nakhchivan and in opposite direction were solved partially.
17 November 2005 [16:14]

"Bakcell" prepared project to expand its activities in Nakhchivan

"Bakcell LTD" preparing a project in order to expand its activities in Nakhchivan Autonomous Republic (AR), submitted it to the Ministry of Communication and Information Technologies of Nakhchivan AR.
17 November 2005 [15:56]

Number of employees working in industrial enterprises increased 3,9%

Industrial product and services amounting to 35,4 trillion manats was produced and rendered in the economy of the country in January-October months of this year.
17 November 2005 [15:49]

Ministry of Communication and Information Technologies put 104.917 milliard manats investment in the telecommunication sector within 10 months of current year

Ministry of Communication and Information Technologies put 104.917 milliard manats investment in the telecommunication sector in Azerbaijan in January-October of current year.
16 November 2005 [20:23]

BakGaz constructed new gas lines in several villages of Baku

New gas lines in the length of 5 km and with 377 mm diameter are constructed in "Gizildash", "Shnagar", "Buta", "Azenes" and "Korgoz" settlements of Baku.
16 November 2005 [19:33]

Income of citizen of Azerbaijan increased 26,8 percent in comparison with 2004

The volume at face-value of monetary incomes of the population formed 30,6 trillion manats during January-October months of this year.
16 November 2005 [14:42]

AIOC uses extracted gas to cover demand of population

1bn 268.3 million cubic meters of gas were extracted from "Chirag-1" and "Central Azeri" fields in 10 months of the current year.
16 November 2005 [14:21]

Asian Development Bank presented today its technical aid strategy

Today Asian Development Bank presented technical aid strategy to the transportation sector at the Ministry of Transport.
15 November 2005 [20:18]

Azercell signs another roaming contract

"Azercell Telecom" Joint Enterprise (JE) signed a roaming contract with "AIS" operator of Thailand.
15 November 2005 [20:03]

Jamil Sultanov retires from chairmanship of Administrative Board of "Azerlotereya"

The chairman of the Administrative Board of the "Azerlotereya" Open Joint-Stock Company (OJSC) Jamil Sultanov was dismissed from his post.
15 November 2005 [17:00]

1 million 176 thousand 476 persons receive labor pensions in Azerbaijan

State Social Protection Fund (SCPF)informs that 1 million 176 thousand 476 persons obtain labour pension in Azerbaijan.
15 November 2005 [16:56]

Azerbaijan State Railway starts routine financial inspections of its branches

Autumn inspection in the railway economy of the country was started.
15 November 2005 [13:36]

Branch of "Bank Respublika" opened in Guba

Official opening ceremony of the newly opened branch of "Bank Respublika" was held in Guba. According to the information given to APA from the bank, the opening of the branch brought together the administration of the bank, executive power of the region, representatives and the clients of the bank.
15 November 2005 [13:28]

"AzerDemiryolBank" introduces its new service - Lightning

"AzerDemiryolBank" expanded its services in money transfer sphere and launched allegedly the fastest "Shimshek" [Lightning]service for money transfer inside the country.
14 November 2005 [14:24]

Azerbaijan plans to build new platform at Guneshli

Next year, at one of the largest oil-gas structure in the Azerbaijani sector of the Caspian sea - Guneshli, is planned to build a new platform, gas collector-transporter system of low and high pressure, drill 21 wells, and reconstruction of the existing infrastructure. On this purpose, the works of projecting and supply activities are being done.
14 November 2005 [14:19]

"Turk Petrollari A.O" share in the BTC project is 6,53 percent

The "Turk Petrollari A.O" national company (TPAO) has invested 1,9 billion dollars so far in the projects implemented in the oil industry of Azerbaijan. Late in 2005, this figure will reach 2 billion.
14 November 2005 [14:16]

Shahdeniz project is ready for 55 percent

Azerbaijan International Operating Company informs that 55 percent of works on the Shahdeniz project have been done. This exceeds the stipulated volume.