Business

05 August 2005 [08:36]

Azerbaijan carried out export-import transactions in amount of $3.4bn over first half-year

Azerbaijan maintained trade relations with 124 countries of the world over first half-year. Foreign goods turnover reached $3.4 billion with $1.3 billion export and $2.1 billion import.
05 August 2005 [08:30]

?IOC to ship over 560,000 tons Azeri Light from Supsa in August

The Azerbaijan International Operational Company (?IOC) plans to ship in August from the Black Sea port Supsa 656,000 tons of the Azeri Light oil, produced at the Azeri-Chirag-Gyuneshli (ACG) oil field. 135,000 tons of oil will be shipped on 6-7 August by the State Oil Company of Azerbaijan (SOCAR), which sold this consignment to the Select Energy trader at the tender.
05 August 2005 [08:26]

Agreement on Kazakhstan’s joining BTC project to be signed in October 2005

The intergovernmental agreement on the Kazakhstan’s joining Baku-Tbilisi-Ceyhan (BTC) project will be signed in October 2005, Vladimir Shkolnik, the Energy and Mineral Resources Minister, said to a meeting in Aktau.
05 August 2005 [08:20]

bp eager to increase expenditure with azeri JEs, state companies

British-U.S. BP intends to increase the expenditure with the Azerbaijani joint enterprises (JE) and state companies in 5 years.
04 August 2005 [11:17]

Gas delivery to Azerbaijan from Russia restored after 4.5 hours of break

Terror act in Mahackala section of Mozdok-Gazimammed gas pipeline was prevented.
04 August 2005 [10:41]

?IOC suspended Baku-Supsa pipeline operation

The Azerbaijan International Operation Company (AIOC) suspended yesterday the operation of the Baku-Supsa pipeline (”the western route”) according to the schedule.
04 August 2005 [09:48]

1.902.799 tons of grain produced this year

Reaping process has ended in the 97% of the cornfields so far.769.833 acres of field was planted with grain in Azerbaijan in 2005, 744.866 hectares of field was reaped.
04 August 2005 [09:11]

?li Huseynov: “Anti-corruption legal defense centres to be of interest for international practice study”

Opening of the anti-corruption legal defense centers in Azerbaijan (ALDC) is an integral part of the international exchange of experience in the corruption fighting sphere.
04 August 2005 [08:40]

Star company to complete construction of two appliances plants till late 2005

The Turkish Star group of companies will complete the construction of the two plants on production of automobiles and domestic appliances till late 2005.
04 August 2005 [08:37]

AIOC and Transneft discuss oil transportation through Baku-Novorossiysk

The Russian Transneft Company permitted the Azerbaijan International Operating Company (AIOC) to transport 388,000 tons oil through the Baku-Novorossiysk pipeline in September 2005.
03 August 2005 [10:32]

GDP to comprise 70.5 bn manats in 2006, economic development minister

In accordance with the forecast of the Economic Development Ministry, GDP of Azerbaijan will make up 70.5 billion manats in 2006 with 30.5% economic growth.
03 August 2005 [09:59]

Iran not determined new composition of commission on economic cooperation with Azerbaijan

Iran has not determined a new composition of the bilateral commission on economic cooperation with Azerbaijan due to non-formation of new government after the election of the new President.
03 August 2005 [09:37]

Enterprise producing refrigerators opened in Shamakhi

Enterprise producing refrigerators has been opened in Shamakhi.
03 August 2005 [08:58]

Azerbaijan paid 4,2 million USD for half year for membership in international organizations

For the first half year Azerbaijan paid 4,2 million USD for membership in international organizations.
03 August 2005 [08:56]

Memorandum signed between Economic development Ministry and Asian Bank for Development

An Understanding Memorandum was signed with the Asian Bank for Development (ABD) on realization of the new joint technical aid project in the Economic Development Ministry (EDM) yesterday.
03 August 2005 [08:53]

?zerbaijan will increase oil price forecasts in budget up to record–breaking level

The Ministry of Economic Development (MED) of Azerbaijan submitted the macro-economic forecast for 2006 to the Cabinet of Ministers, the Minister of Economic Development Farhad Aliyev told journalists.
03 August 2005 [08:47]

?zerbaijan banned import of meat products from some countries

The Ministry of Agriculture (MA) of Azerbaijan has banned officially import of meat and other food products to the country, particularly, chicken, eggs and various poultry from Kazakhstan, China, Japan, Pakistan and a number of Asian countries.
03 August 2005 [08:42]

Huseyn Arabul: “Misunderstanding occurred with the Taxes Ministry will be solved recently”

The reason of dismissing some of the associates working in the local departments of the “Barmek-Azerbaijan electric Net” LTD is that they could not fulfill instructed tasks”.
03 August 2005 [08:41]

Presentation of project “Corruption in Azerbaijan. How to fight it? ” took place in Baku

Presentation of the project “Corruption in Azerbaijan. How to fight it?”, being implemented by the “Constitution” Research Foundation under the support of the Eurasia Foundation and the Open Society Institute took place on 2 August in Baku.
02 August 2005 [11:33]

New hotel opens in Baku

The Excelcior hotel will open in Baku on Monday, Trend reports.
02 August 2005 [11:24]

Ganja automobile plant receives first sets for assembly of UAZ cars

On Monday the Ganja Automobile Plant received the first sets of spare parts for the assembly of automobiles under the contract concluded with the Ulyanov.
02 August 2005 [09:43]

State program for IT development in Azerbaijan to be adopted

The state program for the development of the information and communications technologies in Azerbaijan (2005-2008) is expected to be adopted this week, Ali Abbasov.
02 August 2005 [09:40]

Local phone calls in Azerbaijan to be payable by end 2005

The local telephone talks will be payable in Azerbaijan by the end of the year.
02 August 2005 [09:32]

AIOC interrupts work in Supsa terminal

On Monday the Azerbaijan International Oil Company (AIOC) interrupted work in the Georgian terminal in accordance with schedule.
01 August 2005 [10:18]

Gyanja car factory discusses issues of first export delivery

The Gyanja car factory coordinates the issue of the first export delivery of its output.
01 August 2005 [10:05]

Akbar Noman plans to arrive in Baku on 2 Aug

Akbar Noman, the ex-manager of the World Bank (WB) on Azerbaijan, plans to arrive in Baku anew on 2 August.
01 August 2005 [10:00]

Gas delivery form Russia to Azerbaijan resumed

The Gazeksport Ltd, the daughter company of the Gasprom Joint Stock Company (JSC), resumed the gas export to Azerbaijan in the night from 29 to 30 July, the Azerigaz JSC told Trend.
30 July 2005 [11:15]

Goods turnover between Azerbaijan and Turkey comprises $237,5m

The goods turnover between Azerbaijan and Turkey has made up $237.5 million since early 2005. Turkey exported to Azerbaijan goods in the amount of $157.2 million or 7.5% of total import of the country, the State Customs Committee (SCC) told Trend.
30 July 2005 [11:03]

16090 physical entities registered in country during January-June 2005

16090 physical entities have been registered in the country during January-June 2005.
30 July 2005 [09:49]

Labor ministry to select consulting company to provide for training under targeted social aid

The Ministry of Labor and Social Security is going to define a consulting company for training targeted social aid in the social security centers throughout the country, including the Nakhcivan Autonomous Republic.
30 July 2005 [09:24]

New asphalt plant opened in Gazakh

New asphalt plant has been opened in Gazakh.
30 July 2005 [09:07]

$1 billion 385 million of $2 billion 311 million substantial expenditure planned for 2005 spent on Azeri-Chirag-Guneshli project

$1 billion 385 million of $2 billion 311 million substantial expenditure planned for 2005 were spent on Azeri-Chirag-Guneshli (ACG) project during the first 6 months.
30 July 2005 [08:56]

97% of building of upper modules of Western Azeri platform completed

Building of the upper modules of the Western Azerbaijan platform is conducted according to the schedule.
30 July 2005 [08:38]

Azerbaijan will launch its own space satellite by 2010

The working out of conception of cosmic multistage conductor system has launched in Azerbaijan.
30 July 2005 [08:35]

Northern Cyprus offers Azerbaijan construction of hotels

Dervish Deniz, the Northern Cyprus Minister for Economy and Tourism, offered the Azerbaijani companies the construction of hotels as more attractive spheres of economy.
30 July 2005 [08:28]

Azerbaijan might become a transit country for Northern Cyprus products

Azerbaijan might become a transit country for export of the products to the Central Asia, Ferdi S.Soyer, the Prime Minister of the Turkish Republic of Northern Cyprus, told the journalists.
30 July 2005 [08:21]

Lukoil to ensure guarantee for EBRD credit under construction of facilities for Shah-Deniz

EBRD credit allocated for LUKOIL Overseas will be ensured by a guarantee in the initial stage of construction of production facilities under the project on the construction of Shah-Deniz project, the company announced.
29 July 2005 [09:18]

Azerbaijan’s arrears to reach $1.6bn in 2005

Azerbaijan’s public arrears will comprise approximately 15% of the GDP late 2005. Azerbaijan will not borrow big funds in 2005, the Cabinet of Ministers told Trend.
29 July 2005 [09:01]

Second Azeri delegation visits Northern Cyprus

The second Azerbaijani delegation of entrepreneurs arrived in the Northern Cyprus on Thursday.
29 July 2005 [08:43]

World Bank to open Common Economical Education Center for the Caucasus region

Minister for education Misir Mardanov received World Bank chief specialist on education for Europe and Central Asia Kent Luis on 27 July.
29 July 2005 [08:39]

Azeri government and World Bank will sign agreements in Aug

The Azerbaijani government plans to sign agreements with the World Bank (WB) in August 2005.
29 July 2005 [08:27]

Stage 1 of Shah-Daniz project complete 63%

Stage 1 construction under the Shah Deniz gas and condensate development project is currently 63% complete overall.
29 July 2005 [08:19]

BTC Co pumps 1m barrels of Azeri Light to BTC

The first 1 million barrels of Azeri Light oil, produced from the Azeri-Chirag-Gunashli (ACG) field, has been pumped to the Baku-Tbilisi-Ceyhan main export oil pipeline.
29 July 2005 [08:17]

Azerbaijan is free of paying $ 150 million fine

A press-conference dedicated to abolishing the pretension in the amount of $ 150 million against the Azerbaijan Republic, Caspian Shipping Office and “Caspian Specialized Basin Accident-Rescue” Open Stock Company (OSC) was held in the Economic Development Ministry yesterday.
29 July 2005 [08:14]

EBRD, LUKOIL to ink credit agreements on Azeri project

The European Bank for Reconstruction and Development (EBRD) and Lukoil Overseas Holding Limited will sign in Moscow on Thursday a $100m credit agreement on financing a part of expenses under the project on development of gas-condensate field Shah-Daniz.
28 July 2005 [09:05]

Minister of Economic Development: “GDP in Azerbaijan will rise more than 30%”

The Cabinet of Ministers will submit the forecast macroeconomic figures for 2006 on 15 September, Farhad Aliyev, the Minister of Economic Development, told journalists.
28 July 2005 [08:53]

SOCAR has difficulties in oil exporting via Novorossiysk

The State Oil Company of Azerbaijan (SOCAR) wants to apply to the head of the Russia’s Transneft Company, Semen Veinstock with an official letter stating the unfavorable situation around the export of the Azerbaijan’s oil through the Novorossiysk port, SOCAR told Trend.
28 July 2005 [08:51]

Russia not to permit the returning of Azerbaijan’s ships

Russia does not permit the returning of the ships “Maestro Niyazi” ,”Natavan” and “Rasul Rza” belonging to Azerbaijan for the time being.
28 July 2005 [08:43]

Barmek Azerbaijan intends to invest in development of electric network in baku over $19m

Barmek Azerbaijan, the operator of the energy distribution network in Baku and Sumgayit, intends to invest 89,499m manats (over $19m) in the development of the electric network of Baku in 2005.
27 July 2005 [12:03]

Premium of insurance companies in Azerbaijan grew by 11,9%

Premium of insurance companies of Azerbaijan on the results f the first half of the current year grew by 11,9% as compared to the first half-year of the last year.
27 July 2005 [09:49]

Construction of new sugar plant starts in Salyan

The small enterprise ‘Anar-93’ started the construction of a sugar plant near the Baku-Astara motor highway in Salyan.
27 July 2005 [09:09]

President Ilham Aliyev visited Khachmaz region

The president Ilham Aliyev visited Khachmaz region yesterday.
27 July 2005 [09:03]

Azerbaijan to be included in list of countries recommended for tourist trips

Azerbaijan will be shortly included in the list of countries recommended for tourist trips by the government of China. The accord between Azerbaijan and China on including Azerbaijan in the list of countries, recommended for traveling was achieved in the previous year during the visit of the Minister of Youth, Sport and Tourism Abulfaz Karayev to China.
27 July 2005 [08:38]

Etibar Pirverdiyev: “Debt of Barmek company for unfulfilled commitments is 160 billion manats”

The Barmek-Azerbaijan Company does not fulfill its obligations on some clauses of the agreement, signed with the government of Azerbaijan for delivery in asset management of the energy distribution networks of Baku and Sumgayit, the Open Joint Stock Company (OJSC) Azerenerji head, Etibar Pirverdiyev told journalists on 26 July.
26 July 2005 [10:55]

Azeri delegation to participate in show in Turkey

A 45-member delegation will represent Azerbaijan in an international exhibition ‘Konia shoes, leather industry and fashion’, which will be held in Konya, Turkey, from 4 to 7 August, the Confederation of Azerbaijani Entrepreneurs (CAE).
26 July 2005 [10:54]

IFC allots $3m to Azeri Microfinance Bank

The Azerbaijani Micro Finance Bank of (MFBA) and the International Finance Corporation (IFC) signed an agreement on allotment of credit by the IFC.
26 July 2005 [10:50]

German government to grant 1.2 million euros to Azerbaijan

German government is ready to allocate 1 million 185 thousand euros to Azerbaijan.
26 July 2005 [09:02]

Azerpocht to carry out postal money order on Western Union, Travelex systems

The Azerpocht state enterprise (SE) will apply postal money transfer on Western Union and Travelex systems. The work on realization of these systems is underway.
26 July 2005 [08:50]

Issue on EBRD’s entrance to capital of Bank of Baku postponed

The European Bank for Reconstruction and Development (EBRD) officially announced that the consideration of possible participation in the capital of Bank of Baku originally scheduled for 26 July to 6 September 2005.
26 July 2005 [08:49]

World Bank manager in Azerbaijan resigns

Ahmad Jahani, the manager of the World Bank (WB) on Azerbaijan, resigned from his prior to completion of his term.
26 July 2005 [08:48]

Gobustan Operating Company suspends drilling of appraisal well

The Gobustan Operating Company (GOC) suspended the drilling of the appraisal well at the Kanizdag field and Coastal block, including into the contract area of the South-Eastern Gobustan for lack of some devices.
26 July 2005 [08:46]

Ilham Aliyev visited northern region

The president Ilham Aliyev visited Guba region yesterday.
25 July 2005 [09:05]

COPAL leaves agreement on use of Heydar Aliyev rig

Chevron Overseas Petroleum Azerbaijan Ltd. (COPAL), an operating company involved in the Absheron offshore bloc, notified its partners in the Heydar Aliyev rig utilization agreement about his leaving the agreement.
25 July 2005 [08:42]

Unified database on combat of terror to be established under GUAM

The establishment of database for fighting terror, organized crime, drug trafficking and illegal migration will be on focus of the forthcoming meeting of the virtual centers of GUAM to be held in Baku on 25 July.
25 July 2005 [08:36]

Russia to stop gas transfer to Azerbaijan for 3 days

The “Gasexport” company of Russia will stop gas transfer to Azerbaijan on July 26-29.
25 July 2005 [08:11]

Money mass in Azerbaijan grew 6.3%

In June money mass in Azerbaijan grew 6.044%, while in 2005 a rise comprised 12.7%. The National Bank of Azerbaijan said that as of 1 July the amount of money mass in Azerbaijan (M2) comprised 3851.3bn manats against 3,631,8bn mantas fixed as of 1 June and 3,418bn mantas as of 1 January 2005.
25 July 2005 [08:01]

Gobustan Operating Company lost court hearing on Ecology Ministry suit

Gobustan Operating Company (GOC) lost the case in the court on the suit for damaging the environment filed by the inspectorate on the environment and natural resources state control under the Ministry of Ecology and Natural Resources of Azerbaijan (MENRA), the Minister of Ecology and Natural Resources Husseyn Bagirov told Trend.
24 July 2005 [09:23]

Pakistani companies eager to enter Azeri market

“Pakistani companies are eager to expand trade-economic relationships with Azerbaijan,” members of the Pakistani business delegation said in a meeting with the Azerbaijani entrepreneurs in Baku on Friday.
24 July 2005 [08:56]

Opening of Excelcior hotel postponed

The opening of Excelcior hotel in Baku, originally scheduled for July 22, has been postponed to 1 August 2005.
24 July 2005 [08:54]

IMF delegation held meetings in National Bank, Economic Development and Finance Ministries

The delegation led by the deputy of the executive director of the International Monetary Fund (IMF) Agustin Kaustens held meetings in the National Bank, Economic Development and Finance Ministries.
24 July 2005 [08:28]

Ilham Aliyev received International Monetary Fund Deputy Managing Director

President Ilham Aliyev today received the delegation led by Deputy Managing Director of International Monetary Fund (IMF) Agustin Carstens.
24 July 2005 [08:12]

IMF experts consider the economic situation is much better in Azerbaijan than in the other Southern Caucasus countries

The delegation consisting of 9 persons led by the 1st deputy of the chairman of Milli Majlis Arif Rahimzade took part in the seminar “About macroeconomic policy for the parliamentarians of the Southern Caucasus” organized in the institute of the International Monetary Fund (IMF) situated in the capital of Austria, Vienna.
24 July 2005 [08:10]

20,000 tons of tobacco to be produced in 2015

The tobacco production in the country will be increased to 20,000 tons a year in 2015, the Agriculture Ministry told Trend.
24 July 2005 [08:07]

Catel, Azeri-U.S. company to open over 10 express-centers in Azerbaijan by late 2005

Azerbaijan-U.S. joint venture Catel (Caspian American Telecommunications, LLC) plans to open over 10 express-centers in the capital and regions under an agreement signed with Omnitel, a distribution company, on the organization of cleint service network in commucnaition.
24 July 2005 [07:53]

Azerbaijan to participate in exhibition in China

The 9th Chinese International Investment and Trade Exhibition will be held in Siamine, China, from 8 to 10 September, the Fund of Encouragement of Investments and Consultations told Trend.