Business

12 March 2005 [02:16]

14 procedures needed to start business activity in Azerbaijan

14 procedures ought to be passed through to start a business activity in Azerbaijan.
11 March 2005 [23:24]

Mission of World Bank to come to Baku

In the second half of March mission headed by Christian Peterson-economist of World Bank (WB) over South Caucasus region will pay an official visit to Baku.
11 March 2005 [22:18]

Caspian oil and gas reserves assume special significance for U.S.

"Big oil and gas reserves of the Caspian region are of significant importance for USA".
11 March 2005 [20:39]

Azeri-US company will not drill a well in Turkmenistan

The Azerbaijani-US joint venture (JV) Caspian Drilling Company (CDC) was obliged to refuse from drilling an exploration well in the Turkmen section of the Caspian.
11 March 2005 [18:11]

US ambassador, Chairman of National Bank and USAID project chief sign work-plan

The US government and the Azerbaijan government formally signed a work-plan defining the mission of the Banking Supervision Project on Thursday, the US embassy in Baku told Trend.
11 March 2005 [17:43]

Loan agreements between government of Azerbaijan and Islamic Development Bank signed

Two loan agreements were signed between government of Azerbaijan and Islamic Development Bank (IBD) on 10 March in Jeddah (Saudi Arabia - SA) Agency Trend informs, documents are signed within frames of the official visit of the president of Azerbaijan Ilham Aliyev to SA.
11 March 2005 [17:21]

Employees of of "Salyan oil" held protection strike

Yestyerday workers of "Salyan oil" Operation Company have held 3-hour protest action demanding pay rise.
11 March 2005 [17:16]

Conference dedicated to the "Security of Information systems" in Baku

Conference dedicated to the "Security of Information systems" will be held in Baku on March, 11.
10 March 2005 [14:44]

The 1st Azerbaijan International Exhibition on Cleaning and Hygiene Facilities, Chemical Industry, Household Equipment and Electronics to be held today

The 1st Azerbaijan International Exhibition on Cleaning and Hygiene Facilities, Chemical Industry, Household Equipment and Electronics will be held in Sport and Exhibition Complex named after Heydar Aliyev today.
10 March 2005 [14:43]

Salyan Oil treats polluted area

Salyan Oil Limited (SOL), an operating company involved in the development of Kursangi-Garabaghly onshore fields, has treated the polluted area, which was a topic of legal proceedings between the company and Inspection on State Control over Environment and Use of Natural Resources under the Ecology Ministry.
10 March 2005 [14:41]

AIOC produces over 1m tons of oil in Jan-Feb

In January to February 2005 AIOC produced 1,148 million tons of oil from the Azeri-Chirag-Gunashli contract area, exceeding the last year figure by (1,033 million tons).
08 March 2005 [10:17]

Strategic pipelines under threat of Armenian terror

"The oil pipelines Baku-Tbilisi-Ceyhan (BTC), Baku-Novorossiysk and Baku-Supsa are under the threat of Armenian terror and the Azerbaijani government should take urgent measures to prevent them," Abid Sharifov, the Azerbaijani Vice Premier, also the chairman of the State Commission on Emergencies, told a seminar on management of emergencies in the sphere of civil defense organized by French Embasy in Baku on Monday.
08 March 2005 [09:28]

Next meeting of Azerbaijan-Turkey inter-governmental economical commission to be held in Ankara

Next meeting of Azerbaijan-Turkey inter-governmental economical commission will be held in Ankara on April 22-24.
05 March 2005 [17:06]

New increasing of prices for gas is a correct decision of government, a foreign expert concluded

Despite the last increasing of prices for natural gas its cost doesn't correspond to the import from Russian system.
05 March 2005 [16:35]

World bank increases volumes of financing on energy project

The rising of price for SCADA system introduction is connected with expansion of project. As "Azenerji" reported, it is provided to add networks the realization of which is planned in future, which will require additional funds.
05 March 2005 [15:59]

Azeri oil export starts

The Azerbaijan International Operating Company (AIOC), operated by BP, today started Central Azeri crude oil export from the Sangachal terminal.
05 March 2005 [15:52]

Forecast of tea production in Azerbaijan for 2005 is 1100-1200 thousand tons

In 2005 the production of tea in Azerbaijan forecasted as 1100-1200 tons. As the Ministry of Agriculture reported, for the present time the total area of tea plantations in Azerbaijan makes 3.7 hectares.
05 March 2005 [15:50]

116 wagons kept in Azerbaijan-Georgia border

137 of 284 corn wagons brought to Baku were unloaded.
05 March 2005 [15:45]

International Bank of Azerbaijan can be privatized by open auction

Azerbaijan in fact has reconsidered the plan of privatization of the state share of participation in the capital of International Bank of Azerbaijan.
05 March 2005 [15:24]

Azeri oil export starts from Sangachal terminal

The Azerbaijan International Operating Company (AIOC), operated by bp, started Central Azeri crude oil export from the Sangachal terminal on March 4, reported bp press-service.
04 March 2005 [09:35]

President approved the signing of contract with designers of new manat

President of Azerbaijan Ilham Aliyev approved the signing of agreement with designers of new banknotes of national currency.
03 March 2005 [09:35]

Azercell has 1.340.000 subscribers

The number of Turkish-Azerbaijan joint venture Azercell Telecom founded in 1996 increases.
03 March 2005 [09:17]

Gas price increased almost 3 times in Azerbaijan

Azerigaz increased the price on natural.
03 March 2005 [09:15]

Benefits for low-income people increased in Azerbaijan

The benefits of some low-income people were increased in Azerbaijan from 1 March 2005 in compliance with the relevant presidential decree.
03 March 2005 [09:02]

Azerbaijan releases 19,9 mln sturgeon fries into the Caspian

Ten fish-factories of the Ministry of Ecology and Natural Resources of Azerbaijan released 456,3 million fries of different species of fish into the Caspian Sea, Kura river and inner reservoirs in 2004.
02 March 2005 [08:52]

Second International Automobile Exhibition to be held in Baku

From March 16 to 19 Second International Automobile Exhibition will be held in Baku.
02 March 2005 [07:43]

Ganja motor automobile plant to increase its production share of local automobile assemblage

Ganja automobile plant intends to increase its production share of local automobile production.
01 March 2005 [15:03]

The basic inflation in Azerbaijan is 1%

Only 45.4% of common inflation in Azerbaijan (2.5%) in January had been caused by monetary factors. As the National Bank of Azerbaijan informed, in January the basic inflation was 1% towards December and 6.8% towards February 2004.
01 March 2005 [15:01]

International monetary fund mission to visit Azerbaijan

The mission of International Monetary Fund (IMF) will arrive to Azerbaijan March 7 this year.
01 March 2005 [14:58]

SOCAR searches for new hydrocarbon deposits

SOCAR conducts offshore and onshore prospecting for revealing new hydrocarbon deposits.
27 February 2005 [09:12]

ITECA Caspian is planning to organize more exhibitions in Baku

The 1st Azerbaijan International Consumer Electronics and Household Appliances Exhibition SEM Azerbaijan 2005 organized by UK ITE Group plc and its exclusive partner in Azerbaijan Iteca Caspian will be held at the Baku Sport-Concert Complex from March 10 to 12.
26 February 2005 [10:15]

BTC Co opened its web site

BTC Co has opened its new web site.
26 February 2005 [10:06]

Representative of World Bank arrived to Baku with the aim of familiarizing with fulfillment of 2 projects

The director of World Bank projects of "Reconstruction and completion of irrigation and drainage infrastructure building" and "Improvement of irrigation distribution systems and control" Up Stalterdyke arrived to Baku with the aim of familiarizing with execution of works.
26 February 2005 [10:02]

More Russian oil companies want to use BTC to reach world markets

The number of Russian private petroleum companies who wish to use Baku-Tbilisi-Ceyhan pipeline to deliver their oil to the world markets increases.
26 February 2005 [09:39]

Constructions near railways will be destroyed

According to the decision of the Cabinet of Ministers "rules of using lands of Railway transport appointment and special security zone of railways, as well as norms of land share of railways and zones of sanitary security" was approved.
26 February 2005 [08:39]

Prices to reduce yearly in BTC

The export price of oil delivered through the Baku-Tbilisi-Ceyhan pipeline per barrel will be US $3,30 against $4 in 2005.
25 February 2005 [16:55]

German-Azeri fund exhausts funds

The German-Azerbaijani Fund (GAF) completed the assimilation of the 2.6m euros second tranche of the GSF.
25 February 2005 [16:41]

Azerbaijan will attend 15 international tourism exhibitions in 2005

Azerbaijan will attend international tourism exhibition "EMIT- 2005" to be held in Istanbul in nearest days.
25 February 2005 [16:39]

Azerbaijan pans to collect 2,250m tons of grains

As of preliminary forecasts, in 2005 Azerbaijan will harvest 2,250 million tons of grains. The sowing of grains started in the country early April, Trend reports.
24 February 2005 [09:08]

Association of Azeri leasing companies registered

The Association of Azerbaijani Leasing Companies received a status of a legal entity.
24 February 2005 [09:07]

Bank of Baku, Ilkbank merge

The National Bank of Azerbaijan (NBA) cancelled the licenses of the commercial banks Bank of Baku and Ilkbank.
24 February 2005 [09:04]

Azeri Prime-Minister was awarded "Independence" order

President Ilham Aliyev has signed order on awarding Prime Minister Arthur Rasizadeh "Independence" order.
24 February 2005 [09:02]

Number of tourists arriving in Azerbaijan to decrease this year

Mr. Ragif Abbasov, Head of Press Service of the Ministry of Youth, Sports and Tourism, told the Trend Agency that the flow of tourists to Azerbaijan during the current year had decreased.
23 February 2005 [17:58]

Azerbaijan to continue cooperation with IMF

Azerbaijan will continue the cooperation with the International Monetary Fund (IMF) even after the expiration of efficiency term of the Poverty Reduction and Growth Facility Program, due to complete on 4 July, Farhad Aliyev, the Minister for Economic Development, told journalists on Tuesday.
23 February 2005 [17:54]

Unified communal tariff to be set up in Azerbaijan

The Azerbaijani government is preparing for injecting tariffs on different communal services for all consumers, Farhad Aliyev, the Minister for Economic Development, told a business forum held in Sumgayit on Tuesday.
23 February 2005 [17:53]

Filling of Azerbaijan part of Baku-Ceyhan with oil will begin in May

Filling of Azerbaijan part of Baku-Tbilisi-Ceyhan Main Export Pipeline with oil will begin in the middle of May.
23 February 2005 [17:51]

Hydrocarbon reserve of Azeri-Chirag-Guneshli deposits is in the volume of 730 million tons calculated

Hydrocarbon reserve of Azeri-Chirag-Guneneshli deposits signed in the frame of "Contract of the Century" was calculated to be in the volume of 730 million tons.
22 February 2005 [09:23]

In Georgia-Azerbaijan borderline 420 wagons kept

In Boyuk Kesik station of Georgia-Azerbaijan borderline, 420 wagons are kept.
22 February 2005 [09:20]

SOCAR might cease oil export via northern route

The State Oil Company of Azerbaijan (SOCAR) is probable to cease the export of its oil via the Baku-Novorossisyk northern export oil pipeline from April 2005 to the commissioning of the Baku-Tbilisi-Ceyhan main export oil pipeline.
22 February 2005 [09:16]

Economic conference to be held in Germany late spring

An economic conference on Azerbaijan will be held in Germany late this May in Berlin, the Azerbaijani-Germany Union of Economic Assistance told Trend.
22 February 2005 [09:10]

Taxes ministry announces structure of tax remittances

In January 2005 the tax remittances comprised 472,043,1m manats.
22 February 2005 [09:08]

First tanker with Azeri oil to leave Ceyhan shortly

The first tanker with Azerbaijani oil might be unloaded I the Turkish port Ceyhan on 30 September - 1 October 2005, Natig Aliyev, the President of the State Oil Company (SOCAR) told local television company ANS.
21 February 2005 [12:06]

Austrian Airlines to increase flights to Baku

The Austrian airlines plan to increase the number of flights `to Azerbaijan, the Azerbaijani-German Economic Assistance Union told Trend.
21 February 2005 [12:04]

Azerbaijan, Kazakhstan to sign agreement on co-op in fighting terror, crime, drug addiction

Azerbaijan and Kazakhstan will sign an agreement on cooperation in the sphere of terror, organized crime and drug trafficking, a diplomatic source told Trend.
21 February 2005 [12:01]

Nine new fields under exploration

According to the State Oil Company of Azerbaijan, to date 71 oil and gas fields have been discovered in the republic including 42 onshore and 28 in the Azerbaijani sector of the Caspian Sea.
21 February 2005 [11:59]

New project on Azerbaijan to be submitted to WB board of directors

The Board of the Directors of the World Bank intends to implement a project on Defense of rural areas, Baku Office of the WB told Trend.
19 February 2005 [11:02]

EBRD to allocate credit for Azeri Bank

The European Bank for Reconstruction and Development (EBRD) will allocate a $1m credit to Bank of Baku, according to the EBRD.
19 February 2005 [11:01]

German Bank proposes Azerbaijan issue of Euro-bonds

Heydar Babayev, the chairman of the State Securities Committee at the Azerbaijani President, held a meeting with Yorg Bongarts, he Managing Director of German bank Deutschebank.
18 February 2005 [09:15]

EBRD ready to finance construction of waste-refinery plans in Baku

During the visit to Azerbaijan from 21 to 22 February 2005 Noreen Doyle, the First Vice President of the Euopen Bank fior R%cisnctrion and development (EBRD) will discuss three perspective projects, Nail Fataliyev, the deputy head of the monetary and Economic Policy Department of the Cabinet of Ministry of Azerbaijan, told journalists.
18 February 2005 [09:12]

613 wagons detained in Georgia-Azerbaijan border

613 wagons are detained in Boyuk-Kasik station of Georgia-Azerbaijan border now.
18 February 2005 [09:11]

Airports of Ganja and Lenkeran to be given international status

Reconstruction of Ganja airport will be completed by the end of this year.
18 February 2005 [09:10]

Goods turnover with Italy reaches $1,722 bn in 2004

In 2004 the goods turnover between Azerbaijan and Italy comprised $1,722bn. In 2002 the figure comprised $1,200bn, in 2003 - $1,420bn, The State Customs Committee told Trend.
18 February 2005 [09:09]

British trade mission expected

A mission of the Chambers of Commerce of Aberdeen and Grampian will visit Azerbaijan on 20-25 February, the British Embassy in Azerbaijan told Trend.
17 February 2005 [09:16]

Azeris spend more than $200 mln. for alcohol and cigarettes in 2004

1012,8 billion manats ($202,6 mln.) were spent for alcohol and cigarettes in Azerbaijan in 2004. For alcohol - 556,6 billion manats and for cigarettes - 456,2 billion manats were spent.
17 February 2005 [09:14]

Rate of inflation in Azerbaijan surges

Azerbaijan has faced yet another significant rise in cooperative Rate Of Inflation (ROI): the January level of ROI has climbed 11% as compared to the corresponding figure of 2004.
17 February 2005 [09:13]

Pace of GDP growth in Azerbaijan declines

Azerbaijan's gross domestic products rose through January to 3.28 trillion AZM (roughly 669.1 million U.S. dollars according to USD/AZM exchange rate of 4,902.2), up 7% from the corresponding figure of 2004 (2.778 trillion AZM).
17 February 2005 [09:12]

Russian petroleum giant pulls out of Caspian project

The State Oil Company of Azerbaijan (SOCAR) and Russia's No 1. oil company LUKoil have arrived at an agreement to annul a production-sharing agreement (PSA) on rehabilitation, exploration and development of the Hovsan - Zygh onshore concession.
17 February 2005 [09:11]

Minister of agriculture met with USA ambassador and deputy director of USAID

Yesterday Rino Harnish- ambassador of USA in our country and Jeffrey Li-vice director of International Development Agency (USAID) met with Ismat Abbasov-Minister of Agriculture.
17 February 2005 [09:09]

State Oil Company commissions four wells

Oil & gas production enterprises (OGPE) of the State oil company (SOCAR) put four production wells into operation in January, up 3 holes from the monthly target figure.
16 February 2005 [09:16]

SOCAR plans to commission 71 new wells in 2005

The SOCAR plans to increase oil and gas production through drilling new wells.
15 February 2005 [09:16]

World Bank to allocate 11 million dollars credit to Azerbaijan

World Bank (WB) to allocate 11 million dollars credit to Azerbaijan.
15 February 2005 [09:12]

SOCAR in search of new hydrocarbon reserves

The State Oil Company of Azerbaijan (SOCAR) is involved exploration of new hydrocarbon reserves in onshore and offshore fields. The drilling units are currently implementing the exploration in the North Naphtalan and Shurabad.
15 February 2005 [09:10]

Signing of 5-6 documents is expected during official visit of the President of Azerbaijan to Saudi Arabia

Signing of 5-6 bilateral documents is expected during first official visit of the president of Azerbaijan Ilham Aliyev to Saudi Arabia, as diplomatic sources informed Trend.
15 February 2005 [09:09]

BP submitted proposals on ecological monitoring system

B? Azerbaijan has presented to the Ministry of ecology and Aural Resources proposals on the improvement of ecological monitoring system
15 February 2005 [09:09]

Salyan Oil to send explanatory letter to ecology ministry

Salyan Oil (SOL), involved in he development of Kursangi-Garabaghly field, sent a letter to the Ministry of Ecology and Natural Resources, to apologize for the damage to the environment, Huseyn Bagirov, the Minister for Ecology and natural Resources told Trend.