Business

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.
27 April 2006 [08:19]

BakGaz offers to prolong gas provision till May 1

In connection with cold weather conditions, the Baku city Head Gas Production Office (BakGaz) offers to prolong the winter season in the field of provision of the population with gas until May 1.
26 April 2006 [14:19]

Standardization agency reveals misconducts at Azerbaijan's gas stations

State Agency for Standardization, Patents and metrology revealed some events of misconduct at Azerbaijan's gas stations.
26 April 2006 [14:13]

Unibank's transactions with securities generated AZN 5m in Q1

UniBank carried out transactions with securities worth AZN 4.8m manats in the first quarter of 2006.
26 April 2006 [09:06]

Mahmud Mammadguliyev to participate in OBSEC member countries' FMs meeting

14th meeting of the Organization of Black Sea Economic Cooperation (OBSEC) member countries’ foreign ministers will take place in Bucharest on Wednesday.
26 April 2006 [09:04]

AZN 13m required for construction of bridges

According to the initial calculations, AZN 13m is required for 9 bridges and 13 pedestrian subways to be constructed in Baku.
26 April 2006 [08:55]

WB to negotiate with Azerbaijani government on three new projects

In the first decade of May the World Bank (WB) will start final discussions with the government of Azerbaijan on the "Health reforms", "Development of the judiciary system", and "Agricultural development and crediting – II" projects.
26 April 2006 [08:50]

New 50 and 100 manat banknotes are in use

New 50 and 100 manat banknotes have been mobilized in the country from Tuesday.
26 April 2006 [08:45]

Namig Nasrullayev left for annual meeting of ECOSAI

The chair of the Chamber of Account of Azerbaijan (CAA) Namig Nasrullayev left for Ankara to attend the XI annual meeting of the Economic Cooperation Organization of Supreme Audit Institutions (ECOSAI).
26 April 2006 [08:40]

Azerbaijan Insurance Training Centre to start short-term courses

The Azerbaijan Insurance training Centre (AITC) will start holding first short-term courses for employees of banks, insurance companies and non-banking organizations from the second half of May.
26 April 2006 [08:20]

Azerbaijan Investment Company can participate in defense industry's development

The draft of the Regulations of the Azerbaijan Investment Company Open Joint-Stock Company (OJSC) will be presented to the Executive Office of the President soon.
26 April 2006 [08:15]

Activity of Absheron and Azergarant Insurance Companies restricted

The Ministry of Finance stopped activity of the Absheron and Azergarant Insurance Companies on two insurance kinds.
26 April 2006 [08:00]

XIII International Caspian Oil & Gas exhibition to be held in Baku on June 6-9

The XIII International Caspian Oil, Gas, Oil Refining and Oil Chemistry exhibition-conference will be held in Baku on June 6-9.
25 April 2006 [17:15]

Azenerji keeps talking to European Bank

JSC Azenerji intends to keep talking to European bank for Reconstruction and Development on issuing the credit for recovery of hydroelectrical power plant in Mingachevir.
25 April 2006 [09:46]

Northern Cyprus Turkish Republic tries to open direct flight to Azerbaijan

The Northern Cyprus Turkish Republic (NCTR) intends to open a representation of a tourism agency in Azerbaijan within the following months.
25 April 2006 [09:40]

Azeri delegation to attend the 9th Eurasian Economic Forum in Istanbul

The 9th Eurasia Economic Forum will be opened in Istanbul, Turkey, May 7.
25 April 2006 [09:29]

Loan agreement to be signed between International Bank of Azerbaijan and UBS AG Bank

In May loan agreement for 15 mn Swiss francs to be signed between the International Bank of Azerbaijan (IBA) and UBS AG – one of the largest banks of the world.
25 April 2006 [09:20]

Chief of Electricity Purchase Office of Barmek arrested

The Chief of the Electricity Purchase Office of the Barmek-Azerbaijan Electricity Network Limited Liability Company (LLC) Alasgar Ramazanov was arrested.
25 April 2006 [08:58]

Proposals on holding of population census in Azerbaijan to be submitted to President

The State Statistics Committee (SSC) applied to the Cabinet of Ministers with a proposal to hold population census in Azerbaijan in 2009.
25 April 2006 [08:44]

Arif Veliyev: "Inflation will not exceed 9.6% this year"

This year inflation level is expected no to exceed the previous one – 9.6%.
25 April 2006 [08:16]

Delegation of Transport Ministry left for Tehran

Delegation led by the Minister of Transport Ziya Mammadov left for Iran to attend the ministerial meeting of the states being members of the Economic Cooperation Organization (ECO) to be held in Tehran April 24-26.
25 April 2006 [08:12]

First two power units of Nakhchivan Gas-Turbine Power Plant connected to tension

The first and second power units of the Nakhchivan Gas-Turbine Power Plant have already been connected to the tension.
24 April 2006 [13:10]

Staff changes may take place in Finance Ministry

Staff changes may take place in the Ministry of Finance if a necessity arises in increase of its efficiency, reportedly said newly appointed Azeri Minister of Finance Samir Sharifov.
24 April 2006 [08:41]

Sumgayit Industrial Production OJSC put up for investment competition

The State Committee for State Property Management (SCSPM) announced investment competition on the sale of 85% of stocks of the Sumgayit Industrial Production Open Joint Stock Company.
22 April 2006 [15:43]

New banknotes to be issued next week

The new banknotes worth 50 and 100 manats ($54.3 and $108.6 respectively) will be released in Azerbaijan next week, marking the completion of the national currency denomination.
22 April 2006 [11:20]

Shortage of coins in passenger transport is because of weak relations of transport enterprises with banks

This explanation was given by the Chair of the Board of the National Bank of Azerbaijan (NBA) Elman Rustamov.
22 April 2006 [09:40]

Tariff Council approved new tariffs of international phone calls, utilization of irrigation water, standardization, metrology and other services

Tariff Council of Azerbaijan reviewed at its regular meeting tariffs of monthly subscription payment for phone calls, international phone calls, allocation and utilization of resources in the general-use telecommunication network, AzStateNet State Internet and special communication services, utilization of irrigation water, standardization and metrology services, new services provided by the State Register Service of Immovable Property, and services of the Bureau for Technical Stock-Taking of Property.
22 April 2006 [09:26]

International Labor Organization mission to visit Azerbaijan

The Director of the Sub-regional Office for Eastern Europe and Central Asia of the International Labor Organization (ILO), Mr.Werner Konrad Blenk will visit Azerbaijan from April 23 to 25.
22 April 2006 [09:09]

Turkish Airlines to increase number of flights

The Turkish Airlines will increase the number of flights in connection with the summer season.
22 April 2006 [09:03]

Ministry of Taxes: "No buyer's checks are given in most of sales objects"

The Operative Supervision Office of the Ministry of Taxes conducted raids in 3429 objects to examine the state of using cash registers.
22 April 2006 [08:56]

National bank prepared new proposals on mortgage crediting

The national Bank of Azerbaijan (NBA) presented proposals to the Cabinet of Ministers for improvement of the mortgage crediting process in the republic.
22 April 2006 [08:47]

New document to regulate currency exchange stations will be adopted

No difference is shown towards the state and private banking sectors.
22 April 2006 [08:36]

Azerbaijan to be represented in Hannover MESSE-2006 exhibition

Representatives of two Azeri companies left for Germany to attend the Hannover MESSE0-2006 exhibition to be held April 22-28 under organization of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO).
22 April 2006 [08:24]

Minister of Economic Development met with members of Turkish-Azerbaijani Business Council

Meeting was held in the Ministry of Economic Development with the members of the Turkish-Azerbaijani Business Council (TABC).
22 April 2006 [08:20]

Number of legal entities engaged in business activities grew by 1.7%

By April 1 of the current year, the number of legal entities engaged in business activities in Azerbaijan grew by 1.7% in comparison with the beginning of the year and reached 71,476.
22 April 2006 [08:17]

"On credit bureaus" bill to be presented to parliament by the end of year

The bill "On credit bureaus" is planned to be discussed in Milli Majlis this year.
21 April 2006 [16:38]

Tax Ministry starts stimulation lottery

The Azerbaijani tax ministry started a stimulation lottery – "Take a cashier receipts- win a car," Head of the Operational Department at the Ministry, Gabil Mammedov said at his press-conference April 21.
21 April 2006 [15:36]

Tariffs for international phone calls fell down

At the next session of Tariff Council, its members decided to change the following tariffs effective May 1: international phone calls, phone subscribers' fee for population, state IP-services, special communication, use and separation of common telecommunication numbers.
21 April 2006 [14:35]

SOCAR keeps on installation of the electronic control systems

The State Oil Company (SOCAR) resumed installing the control – gauging devices in order to control the production process at the Azneft production facility.
21 April 2006 [13:31]

State Oil Fund incomes increase

USD 1.4 milliard money was saved up to the state oil-fund. About USD 12 million was brought, using fond capitals during the first term.
21 April 2006 [10:44]

Abdulgadir Aksu: "Azerbaijan and Turkey will always be together"

Interior Minister of Turkey Abdulgadir Aksu, who is on his visit to Azerbaijan, has met with TUSIAD members.
21 April 2006 [10:19]

"Azerenergy" OJSC continues stock-taking of subscribers at BAYVA territory

After the authorities of the BAYVA electricity distribution company were transmitted to the Azerenergy Open Joint-Stock Company (OJSC), stock-taking of subscribers along with the local executive powers is continued.
21 April 2006 [10:17]

David Woodward: Export of Kazakh oil through BTC can commence in 2007

The export of Kazakh oil through BTC pipeline can commence already next year.
21 April 2006 [10:13]

Gazelli Company intends to export its cosmetics to Europe

Gazelli Company, the only cosmetics producer of Azerbaijan plans to export its products to European countries, including Spain and France soon.
21 April 2006 [10:12]

Azerbaijani GDP predicted to be the highest one among CIS countries in 2006-2007

According to IMF forecasts, Azerbaijan will be in the lead among the CIS countries concerning rate of economic growth in 2006-2007, the republican Gross Domestic Product will increase correspondingly by 26.2% and 22.9%.
21 April 2006 [09:44]

Works on South Caucasus Pipeline project fulfilled 96%

96% of the works on the South Caucasus Pipeline (SCP) project have been implemented.
21 April 2006 [09:39]

5th Azerbaijan International Travel and Tourism Exhibition started

5th Azerbaijan International Travel and Tourism Exhibition (AITF-2006) started in Baku yesterday.
21 April 2006 [09:00]

Volume of cargo traffic through TRACECA transport corridor grew by 12.1%

In January-February of the current year volume of cargo traffic in the Azerbaijani part of the Europe-Caucasus-Asia (TRACECA) transport corridor increased by 12.1% in comparison with the relevant period of the preceding year and was 7.4 mn tons.
21 April 2006 [08:57]

93.1% of taxpayers presented tax returns

The Ministry of Taxes completed reception of profit and income tax returns.
21 April 2006 [08:18]

Volume of cargo traffic in transport sector of Azerbaijan in 1st quarter increased by 10.7%

In January-March of the current year enterprises and physical persons operating in the transport sector of Azerbaijan transported 30.7 mn tons (10.7% more in comparison with the relevant period of 2005) of cargo.
20 April 2006 [22:35]

SOCAR assets grew on 4% this year

The State Oil Fund (SOFAR) incomes reached this year 221. 4m AZM and expenditures - 168.7m AZM. 209. 9m AZM came from the oil agreements, 207. 3m AZM - from profit oil sale, 2. 6m AZM from the oil transit payments via Baku - Supsa pipeline.
20 April 2006 [16:35]

Abid Sharifov: "Too early to talk about signing BTC treaty with Kazakhstan"

Not all issues have yet been discussed on the inter-governmental agreement about joint oil transportation via Baku-Tbilisi-Ceyhan (BTC) pipeline.
20 April 2006 [14:35]

Tax Ministry finished receiving declarations

The Ministry of Tax finished receiving declarations on profit and income tax, news release of the Ministry of Tax says.
20 April 2006 [13:01]

Caspian Oil & Gas Exhibition to grow by 20% in 2006

Caspian Oil & Gas and 13th "Oil and Gas, Caspian Oil Processing and Chemistry" Exhibitions get enlarged by 20% in 2006.
20 April 2006 [12:00]

U.S. National Public Radio: "Pipeline faces delays, complaints in Turkey"

Turkey hosts the longest stretch of a new transnational pipeline that will carry oil from the Caspian Sea to the Mediterranean.
20 April 2006 [11:51]

Shahdaniz Stage-1 construction close to completion

The construction operations on Azerbaijan's major offshore Shahdaniz gas-condensate field within Stage-1 are almost complete.
20 April 2006 [09:40]

Communication services increased by 28.8% in Q1

In January-March of the current year communication enterprises provided AZN 109.3 mn of communication services to legal and physical persons (or exceeding the analogous indicator of the last year's relevant period by 28.8%)
20 April 2006 [09:37]

Last year Azerbaijan obtained $77.7m of income from tourism

Last year 1 million 177 thousand 277 foreign citizens visited Azerbaijan and 865 thousand 255 of them traveled to the country as tourists.
20 April 2006 [09:26]

International tourism and travel exhibition starts in Baku

The 5th Anniversary Azerbaijan International Travel and Tourism Exhibition (AITF-2006) is starts in Baku on Thursday.
20 April 2006 [08:58]

Volume of loans grew by 32.8%

By March 1 of the current year, volume of loans supplied in Azerbaijan by financial-credit organizations grew by 32.8% in comparison with the same period of the preceding year and made up AZN 1,352.2m.
20 April 2006 [08:56]

Ministry of Ecology and Natural Resources holds tender

Competition Committee at the Ministry has already started admitting articles and television topics.
20 April 2006 [08:54]

Turkish Interior Minister to hold meeting in TUSIAD

The Interior Minister of Turkey Abdulkadir Aksu will have a meeting in TUSIAD during his official visit to Azerbaijan.
20 April 2006 [08:53]

Hilton hotel to be built in Azerbaijan soon

The famous Hilton International hotel of Great Britain will build its new hotel in Azerbaijan in the nearest future.
20 April 2006 [08:49]

US-Azerbaijan business-forum to be held in Washington April 27

The United States - Azerbaijan Chamber of Commerce (USACC) will hold 6th Business and Investment Conference "U.S. - Azerbaijan Strategic Relations: Political and Commercial Priorities" in Washington April 27.