Business

24 February 2006 [11:18]

New metro station to be put into operation in September, 2008

One more station of "Memar Ajami-Dernegul" metro line will be put into operation in September, 2008.
24 February 2006 [11:10]

State Committee for State Property Management established a Hot Line

State Committee for State Property Management(SCSPM)put its homepage and Hot line into operation.
24 February 2006 [11:04]

Street trade being abolished in Zagatala

Executive Power, Hygiene and Epidemiology Center and Police Office are fighting against physical people who are engaged in illegal trade in the streets.
24 February 2006 [11:01]

Roundtable under "Year of Russia in Azerbaijan"

Roundtables under "Year of Russia in Azerbaijan" with participation of representatives of both countries were held at the Baku Business Centre yesterday.
24 February 2006 [10:28]

Energy security in GUAM framework will be discussed

Energy security issues in GUAM framework will be discussed in Baku.
24 February 2006 [10:20]

Etibar Pirverdiyev: "No negotiations on reduction the price of Russian electricity held"

"The Azerbaijani party is not conducting any negotiations on reduction of the price of electricity imported from Russia. The reason of it is price increase of energy carriers in the world market".
24 February 2006 [09:39]

Head of Accounts Chamber to visit Kuwait

Delegation led by the Chair of the Accounts Chamber Namig Nasrullayev will visit Kuwait on March 4-7.
24 February 2006 [09:13]

UK Senior auditor to visit Baku early in April

A delegation led by the senior auditor of the National Audit Office of Great Britain John Born is expected to visit Azerbaijan within the first ten-day period of April.
24 February 2006 [08:55]

Volume of ERBD funds reached $770 mln

The European Bank for Reconstruction and Development (EBRD), that works with Azerbaijan since 1992, has allocated $770 million.
23 February 2006 [11:38]

Head of Microsoft Baku office appointed

Vladimir Chaikovski will become a general manager of the Baku representative office of the Microsoft corporation.
23 February 2006 [11:02]

Georgia has to repay electricity debt only for 1997-1998

The Georgian party has completely repaid electricity received from Azerbaijan during energy crisis happened in Georgia on January 22.
23 February 2006 [10:57]

EBRD held presentation of its annual report

Today the Baku Office of the European Bank for Reconstruction and Development (EBRD) held presentation of the new publication of the annual "Transition report – 2005" on economic development and reforms implemented in Central, Eastern European and CIS countries.
23 February 2006 [10:32]

Compensation for legal buildings to be paid according to market prices

Special commission to conduct inventory of buildings to be pulled down pursuant for construction of new motor roads.
23 February 2006 [09:52]

Heydar Babayev: "Russian companies mainly interested in non-oil sector"

The Minister of Economic Development Heydar Babayev told journalists that Russian companies were mainly interested in the non-oil sector and some proposals had already been presented in this connection.
23 February 2006 [09:49]

Electricity price not to be raised this year

Price of electricity sold to population will not be raised this year.
23 February 2006 [09:20]

Government being more careful in borrowing policy

The government of Azerbaijan will be more careful with the borrowing policy this year.
23 February 2006 [09:10]

Viktor Khristenko: "Submerged pipelines' costruction is possible only after determination of the legal status of Caspian Sea"

Any decision on construction of submerged pipelines in the Caspian Sea can be adopted only after determination of the legal status, was stated by the Minister of Industry and Energy of Russia Viktor Khristenko.
23 February 2006 [09:04]

Privatization proposals of Baku Automatic Telephone Unit to be prepared

The Ministry of Communication and Information Technologies will prepare proposals on privatization of Baku Automatic Telephone Unit (BATU) soon.
23 February 2006 [09:00]

Government gave instructions on preparation of draft budget 2007

The Cabinet of Ministers and Ministry of Economic Development were given instructions on preparation of the 2007 draft budget and socioeconomic development forecasts.
23 February 2006 [08:55]

Terms of mortgage credit are severe at present

30% of property value that must be paid under mortgage crediting is high amount in the present situation, the Minister of Youth and Sport Azad Rahimov told.
23 February 2006 [08:51]

Azerbaijan to participate in international exhibition to be held in Germany

The biggest information-communication technologies exhibition of the world – CeBIT-2006 will be held in Hannover city of Germany from March 9 to 15.
22 February 2006 [18:14]

"RusAl" plans to invest $1bn in Azerbaijan

"Russia's largest aluminium producer "Russian Aluminium" is planning to invest $1bn in aluminium's production in Azerbaijan," the First Deputy Premier Abbas Abbasov told journalists.
22 February 2006 [16:55]

Finance Minister: "Salaries to be increased in 2006"

The government plans to increase salaries of employees of companies financed from state budget except diplomats and governmental officials in 2006.
22 February 2006 [16:50]

State Property Management Committee re-registers leasing contracts

SPMC started work on new registration of concluded leasing contracts. Lesees are due to address to SPMS for re-registration of contracts.
22 February 2006 [15:21]

Negotiations between Azerbaijan and Russia's Stavropol region to be held

Azerbaijan can become transit country of Stavropol region on grain transportation
22 February 2006 [15:08]

?zerenerji JSC to manage Bayva-Enerji

The ?zerenerji Joint Stock Company (JSC) is holding negotiations with the government of Azerbaijan and is likely to commence managing the Bayva-Enerji company since March 1, the head of the ?zerenerji JSC Etibar Pirverdiyev told journalists on Wednesday.
22 February 2006 [14:51]

Moscow proposes oil transportation deal to Azerbaijan

"Russia has proposed to Azerbaijan a long-term agreement on oil transportation via the Baku-Novorossiisk pipeline," the Russian industry and energy minister said Wednesday.
22 February 2006 [14:49]

Russian-Azerbaijani business forum opens in Baku

Several hundred government officials, legislators and entrepreneurs from Russia and Azerbaijan gathered in the capital of Baku Wednesday to discuss ways of boosting economic cooperation between the two former Soviet republics.
22 February 2006 [12:25]

Two Azerbaijani-Russian agreements are signed

Session of the Azerbaijani-Russian economic commission, taken place, on February 21, in Baku, resulted in signing of two documents.
22 February 2006 [11:00]

Ministry of Finance to form supervising-inspection groups in 10 regions

Minimum salary can be increased by 33% this year.
22 February 2006 [10:31]

Arthur Lenk: "Israel's stance on Iran coincides with international community"

Israeli businessmen met with representatives of the northern regions at the Olympic Complex in Guba on February 21.
22 February 2006 [10:20]

One more tanker built in Nizhni Novgorod to be brought to Azerbaijan

The "Koroghlu" tanker built in the "Krasnoye Sormovo" (Nizhni Novgorod) enterprise of Russia will be brought to Azerbaijan in April-May this year.
22 February 2006 [10:14]

NRCR intends to participate in house-building in Azerbaijan

The National Reserve Corporation of Russia (NRCR) intends to participate in house-building projects in Azerbaijan.
22 February 2006 [09:34]

Total assets and credit portfolio of AtaBank reached AZM 159.4 billion

According to balance sheet indicators of the AtaBank Open Joint-Stock Company on 2005, total assets and credit portfolio totaled AZM 159,434.3 million and AZM 115,788.8 million respectively.
22 February 2006 [09:14]

Najaf Talibov: "Most of NGOs avoid audit inspections"

Avoidance of obligatory audit is concerned with existence of shortcomings in the activity and lack of financial transparency. It mostly relates NGOs operating in the country.
22 February 2006 [08:42]

Bank of Baku began banking operations with "American Express" checks

The Bank of Baku Commercial Bank (CB) has started implementation of all banking operations (purchase, sale, collection of payments) by means of "American Express" checks from today.
21 February 2006 [21:11]

NBA to set up foreign banking control system FinA International

The National Bank of Azerbaijan (NBA) set to implementate the pilot project on introduction of the new system of foreign banking control FinA International (FinA).
21 February 2006 [21:05]

Russia and Azerbaijan to sign agreements in communication field

It will be implemented in accordance with the resolution of the Russian-Azerbaijani inter-governmental commission.
21 February 2006 [20:37]

Azeri-Russian business center to be built in Azerbaijan

An Azerbaijani-Russian business center will be built in Azerbaijan, said Yuri Kudimov, the head of the National Reserve Bank.
21 February 2006 [16:59]

Natig Aliyev: "Azerbaijan to continue importing Russian gas"

"Azerbaijan does not intend to stop importing Russian gas," Minister of Industry and Energy Natig Aliyev stated on Tuesday.
21 February 2006 [16:46]

Natig Aliyev: "First Azeri oil to leave Ceyhan on May 27"

Azerbaijan plans to transport over 3 million tons of oil in 2006 against 4,1 million tons in 2005 through the Baku-Novorossiysk oil pipeline, the head of the Azerbaijan Ministry of Industry and Energy (MIE), Natig Aliyev said in a statement to journalists today.
21 February 2006 [16:44]

?vez Alekperov: "Capital state investments to make up 611mln AZN"

The Azerbaijan capital investments this year will make up about 611 million AZN (around 660 million USD).
21 February 2006 [16:41]

Azerenerji Vice-President: "Russia and Azerbaijan are equally interested in the partnership"

"Energy exchange between Azerbaijan & Russia - requirement of two independent energy systems for each other," said Marlen Asgarov, Azerenerji Vice-President.
21 February 2006 [09:58]

Cargo traffic up to 14.6%

Last year cargo traffic in the Azerbaijani part of the Europe-Caucasus-Asia transport corridor increased by 14.6% in comparison with the previous year and was 46.7 million tons.
21 February 2006 [09:48]

PU introduces nanotechnology in "Gum adasi", "Surakhani" and "Absheron" OGPUs

The Azneft Production Union (PU) has started introduction of the nanotechnology in development wells due to the Conception of scientific-research works in oil industry for 2006-2010.
21 February 2006 [09:26]

"Shimal" SDPS operates in optimal mode

The "Shimal" State District Power Station (SDPS) has been operating in optimal mode since the day before yesterday.
21 February 2006 [09:20]

Module power station to be constructed in Nakhchivan

It's planned to construct a module power station in Nakhchivan AR soon.
21 February 2006 [09:13]

Azeri delegation to participate exhibition in Turkey

The Azerbaijani delegation will visit Turkey on February 22 to participate in the East Mediterranean International Travel and Tourism Exhibition.
20 February 2006 [18:49]

Baku Telephone Communications to expand CDMA network

"The number of the subscribers of CDMA (Code Division Multiple Access) of Baku Telephone Communication Production Association (BTCPA) exceeds 700," said Beytulla Husseynov, the head of BTCPA.
20 February 2006 [16:46]

Azerbaijani-Israeli agro-business forum started its work

The First Azerbaijani-Israeli agro-business forum began today in Baku. The Azerbaijan Ministry of Economic Development (MED), the Investment and Export Facilitation Foundation (IEFF) and the Embassy of Israel to Azerbaijan initiated the event.
20 February 2006 [15:52]

Oil production to reach its record level

Oil production in Azerbaijan is expected to hit a record-high 30 mln tons in 2006, State Oil Company of Azerbaijan (SOCAR) informed.
20 February 2006 [15:00]

Government tightens tax control

The government plans to hold monitoring of incomes and outcomes of big state enterprises from July 2006.
20 February 2006 [09:19]

Staff meeting of Communication and Information Technologies Ministry

Yesterday a staff meeting on the results of 2005 was held in the Ministry of Communication and Information Technologies.
18 February 2006 [15:04]

?li Abbasov: "Azerphone to offer mobile services in August"

A new mobile communication operator in Azerbaijan will set to providing services in August 2006, the Minister of Communications and Information Technologies of Azerbaijan Ali Abbasov said in a statement to journalists on Saturday.
18 February 2006 [15:00]

"Hajigabul broiler" suspended customer orders

"Hajigabul broiler" poultry farm has suspended customer's orders due to bird flu danger.
18 February 2006 [09:54]

Israeli-Azerbaijani business forum to be held in Baku and Guba

A business forum with participation of Israeli and Azerbaijani businessmen will be held in Baku and Guba on February 20 and 21.
18 February 2006 [09:43]

Construction of two-storeyed motor roads and bridges in Baku

The Ministry of Transport intends to involve foreign organizations in construction of two-storeyed roads and bridges aimed at solution of transport problems of Baku.
18 February 2006 [09:35]

Auditors Chamber of Azerbaijan visits Latvia

The Auditors Chamber of Azerbaijan (ACA) signed a cooperation protocol with the Certified Auditors Association of Latvia.
18 February 2006 [09:15]

Import of used cars to Azerbaijan to be banned

Import of cars with production period exceeding 4 years manufactured in CIS and foreign countries will be prohibited.
18 February 2006 [09:04]

Banks to provide mortgage credits

The Mortgage Fund under the auspices of the National Bank of Azerbaijan (NBA) determined 15 authorized banks to participate in the crediting process to be started soon.
18 February 2006 [08:32]

State Statistical Committee dissatisfied with EITI

Presentation of the survey results on "Extractive Industry Transparency Initiative" (EITI) took place at "Hyatt Regency" hotel today.
18 February 2006 [08:14]

Licenses and distinctive marks for passenger and cargo transport

It is expected that distribution of licenses and distinctive marks for buses, minibuses, taxis and lorries transporting passengers and cargo will be started during this year.
18 February 2006 [01:28]

Heydar Babayev: "Regions investment in 2006 will be $450mln"

"Significance of the tasks grows to strengthen social and economic development of the country," Heydar Babayev, the Azerbaijani Economic Development Minister, said on Friday.
17 February 2006 [14:30]

PA Consulting Group closed tender for pilot project

PA Government Service Inc., a part of the PA Consulting Group, closed tender in the framework of the pilot project, stipulated by the problems resolving strategy in the Azerbaijan heating sector.
17 February 2006 [12:31]

Baku named fDi City of the Future in Western CIS

Azerbaijan's capital Baku has been announced a City of the Future in Western CIS based upon its competitiveness in attracting foreign direct investments.
17 February 2006 [12:08]

Israel-Azerbaijan business forum due Monday

The Israel-Azerbaijan business forum will be held at the Hyatt Regency Hotel of Baku next Monday.
17 February 2006 [11:29]

Microsoft to open offices in Azerbaijan's regions

Although the first office of the Microsoft Company is expected to be established in Azerbaijan by the end of February, exact date of office's establishment has not been defined yet.
17 February 2006 [11:22]

General meeting of the Azerbaijan Microfinance Bank was held

Final decision on increasing authorized capital of Azerbaijan Microfinance Bank to be adopted in June.
17 February 2006 [10:45]

Tekhnikabank opened second branch in Sumgait

The Tekhnikabank Open Joint-Stock Company (OJSC) opened its second branch in Sumgait on Thursday.
17 February 2006 [10:20]

Bank Standard increased its assets by 55%

Bank Standard increased total volume of its assets by 55% last year and brought it up to AZN124.678 million ($135.727 million) by the beginning of the year.
17 February 2006 [10:03]

RFE/RL: "Pipelines bring danger along with wealth"

The transportation of Azerbaijani oil and gas reserves to world markets via Georgia and Turkey promises huge returns for all three countries.
17 February 2006 [09:55]

MFBA assets grew by 134% for 2005

The credit portfolio of the Azerbaijan Bank for Micro-financing (MFBA) on the results of 2005 made up $17,5 million, having grown three times.
17 February 2006 [08:11]

Special chemical program to be prepared in Sumgait

Special program concerning development of chemical industry in Sumgait will be prepared.
17 February 2006 [08:06]

Highest salary paid in Estonia - lowest in Tajikistan

Highest average monthly salary among the ex-USSR republics is paid in Estonia. So, according to the results of 2005, average monthly salary every Estonian was paid amounted to $593.
17 February 2006 [07:59]

Azersun Holding to introduce new deodorization system

New deodorization system is presented by the "Baku Oil and Food Industry" Open Joint-Stock Company (OJSC) of the Azersun Holding Group of Companies.