Business

16 October 2006 [16:30]

Azerbaijan's external debt reaches $1.8bn

The external debt of Azerbaijan has stood at USD 1 8bn and that is to say, per capita foreign debt equaled to $215, Ziyad Samadzade, chairman of economic policy standing commission of Parliament, said reporters.
16 October 2006 [16:08]

Turkish business urges calm over France's Armenia bill

Turkish consumers were advised on Sunday to cool their anger over the French parliament's decision to criminalize denial that Armenian killings during World War I constituted "genocide."
16 October 2006 [15:34]

Subway fare not to rise next year

The fare for subway will not rise next year.
16 October 2006 [15:12]

Chamber of Auditors chief to attend international conference

Chairman of the Chamber of Auditors of Azerbaijan Vahid Novruzov will attend the Slovak Chamber of Auditors' international conference on "European Union's 8th Directive and statutory audit" in Slovakia's capital of Bratislava, October 19-20.
16 October 2006 [13:17]

Mahmud Mammadguliyev: "WTO's requirements are difficult"

The World Trade Organization's requirements to Azerbaijan are very difficult, Deputy Foreign Minister, head of the negotiations group for WTO accession, Mahmud Mammadguliyev said.
16 October 2006 [12:36]

U.S. ready to support Azerbaijan's accession to WTO

A workshop took place today, examining problems of Azerbaijan's industry priorities development within Technical Cooperation Program for Azerbaijan by United Nations Industrial Development Organization (UNIDO) and World Trade Organization (WTO).
16 October 2006 [11:37]

Wartsila wins power plant order from AzerEnerji

Wartsila said it has won an order to supply Azerbaijan's AzerEnerji with a 300 MW multi-fuel power plant.
16 October 2006 [09:51]

Korea, Azerbaijan to boost energy ties

The industry and energy ministers of Korea and the Republic of Azerbaijan will hold a joint economic conference on Monday in Seoul to discuss ways to boost economic cooperation.
15 October 2006 [20:01]

Georgian analyst: "Turkey should open its borders to allow Armenia to benefit from regional railroad project"

Dr. Tina Gelashvili, the head of the economics department at the University of Tbilisi's Akhaltsikhe campus, believes the railroad will create new opportunities for both Georgia and Turkey.
15 October 2006 [18:43]

Turkey continues boycott of French goods; Carrefour, Danone bear losses

Turkish consumers are launching a boycott of French goods following the French parliament's decision to pass the Armenian bill, which foresees punishment of those denying an "Armenian genocide." Some Turkish citizens are refusing to buy products upon learning they are French.
15 October 2006 [15:00]

Azercell signs new roaming deal

Azercell Telecom joint company has signed a roaming agreement with Maldives' Wataniya Telecom mobile operator.
15 October 2006 [14:58]

Trades at BICEX

The weighted average exchange prices made up 0.8734 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 13.
15 October 2006 [14:39]

Tariff Council punished bus drivers violated its decision

Azerbaijan Economical Development Ministry Tariff Council held press conference with participation of Economic development Minister Heydar Babayev and Deputy Transport Minister Musa Penahov concerning apply of new tariffs in buses.
15 October 2006 [14:38]

Ziyad Samadzadeh: "Two-digit inflation still remains in Azerbaijan"

Financial income flood causes danger for Azerbaijan It means that two-digit inflation still remains in Azerbaijan, Ziyad Samadzadeh, the chief of Azerbaijan Parliament Economical Policy Commission told journalists.
14 October 2006 [16:21]

Tariff Council not to discuss subway fee

Tariff Council will not discuss subway fee this year, Heydar Babayev, Azerbaijan Economic Development Minister and Tariff Council chief told journalists at the press conference.
14 October 2006 [13:45]

Trainings to be held for food, chemical and metal industry workers

World Trade Organization (WTO) and UN Industry Development Organization (IDO) provide technical aid for Azerbaijan in 2006.
14 October 2006 [11:26]

Russia to reduce electric exports to Azerbaijan

Russia intends to maximally reduce electricity exports to Ukraine, Belarus, South Caucasus and Baltic States in winter, Anatoli Chubais, the head of RAO EES of Russia said.
14 October 2006 [11:19]

Georgia and Iran negotiate gas supply issues

Nika Gilauri, Georgian Minister of Energy, will leave for Teheran on October 21 to negotiate gas import from Iran.
14 October 2006 [11:19]

UniBank increases Progressive deposit rates

UniBank CB has increased the Progressive Deposit rates for USD entries.
14 October 2006 [11:17]

Heydar Babayev: "Rise in building materials price results from dynamic development of construction sector"

Rise in the price of building materials results from dynamic development of construction sector, Azerbaijani Economic development Minister Heydar Babayev said.
14 October 2006 [10:53]

Nominal income grows by 21.2 percent in Azerbaijan

During the period of January-September the incomes of Azerbaijani population reached AZN 7.4bn at face value which represents a 21.2% or AZN 1.3 m on the same period last year.
14 October 2006 [10:50]

Economy grew by 34% during January-September

Gross domestic product – the output of goods and services produced by labor and property in Azerbaijan- grew by 34% year on year, in the first nine months of 2006, to AZN 3.1bn, State Statistical Committee told.
14 October 2006 [10:33]

Micro Finance Bank of Azerbaijan grown 100% in 2006

The indicators of Azerbaijan Microfinance Bank for the first nine months of this year have grown more than 100%.
14 October 2006 [10:23]

Taxes Ministry finds irregularities in 28 829 trade facilities

Taxes Ministry Operational Control Department have to date examined 123 469 various kinds of trade facilities and found serious irregularities in 28 829 of them.
14 October 2006 [10:12]

Azerbaijani, Russian and Iranian railway officials to meet in Tehran

Azerbaijani, Russian and Iranian railway senior officials will meet in Tehran to discuss the Project on North-South transport corridor, Azerbaijan State Railway Company Chief Arif Asgarov told media briefing that the trilateral meeting will take place in November.
14 October 2006 [01:09]

Statoil admits Iran bribe; U.S. sets $21 million fine

Statoil ASA, Norway's largest oil producer, agreed to a $21 million fine for paying bribes to try to win influence in Iran in violation of the U.S. Foreign Corrupt Practices Act.
14 October 2006 [00:51]

Azerbaijan, Turkey and Georgia agree on realization of regional railway project

Questions on construction of the Kars-Akhalkalaki-Tbilisi-Baku railway were discussed during a meeting between Azerbaijan's Transport Minister Ziya Mammadov, Georgia's Minister of Economic Development Iraqli Jacovadze and a representative of Turkey's Transport Minister Musa Tunjay.
13 October 2006 [16:07]

Contract signed on tourism cooperation between Azerbaijan-Belarus in 2007-2008

Treaty was concluded on tourism cooperation between Azerbaijan and Belarus in 2007-2008.
13 October 2006 [15:18]

Babayev meets UK MPs

Azerbaijan's Minister of Economic Development Heydar Babayev met with members of the United Kingdom's delegation to the Interparliamentary Union.
13 October 2006 [14:48]

Azerbaijani and Georgian Economic Development Ministers to discuss Kars-Akhalkalaki-Tbilisi-Baku Railway Project

Georgian Economy Minister Irakli Chogovadze has visited Baku.
13 October 2006 [14:30]

President issues decree on Budget Fund for Highways

President Aliyev issued a decree on creating Budget Fund for Highways.
13 October 2006 [14:28]

Turkey gains $100m from BTC

Turkey has to date earned US $ 100m from taxes as well as transportation through BTC which came on line June 4 APA reports quoting Anatolia Agency.
13 October 2006 [09:37]

Azerbaijan says it can't guarantee gas supplies to Georgia next year

Azerbaijan said Thursday that it could not promise to start gas supplies to its neighbor Georgia next year, in a setback to Georgian hopes of reducing the country's energy dependance on Russia.
13 October 2006 [09:19]

Tax terminals to be commissioned in 15 regions

Tax terminals will be commissioned in 15 Azerbaijani regions by this year's end.
13 October 2006 [09:17]

Collection of gas bills reached 72%

72% of the gas bills were paid by the population in September.
13 October 2006 [09:14]

Industry and Energy Ministry proposes Government to write off old debts of enterprises

Azerbaijani Industry and Energy submitted proposals to the Government on write-off of the debts of the enterprises.
13 October 2006 [09:12]

Azerbaijan Bank Training Center gives business training

Azerbaijan Bank Training Center will give business trainings within Project on Development of Business Service for SME funded by BP and International Financial Corporation.
13 October 2006 [09:10]

Court didn't meet ANS Commerce's claim

A trial on the lawsuit the ANS Group of Company's ANS Commerce brought against Taxes Ministry took place on Thursday.
13 October 2006 [08:59]

Industry and Energy Ministry delegation to visit South Korea

Delegation of Azerbaijan's Industry and Energy Ministry will pay a visit to South Korea, Minister Natig Aliyev said.
13 October 2006 [08:58]

SOCAR announces tender for export of Azeri Light crude oil from Batumi port

SOCAR Marketing and Economic Operations Department announced a tender on export of SOCAR 1 168 000 barrels of Azeri Light crude oil from Batumi Port November 4-10 and 10-15.
13 October 2006 [08:55]

20 companies intend to take part in establishing refugee settlements

The Social Development Fund for Internally Displaced Persons will announce the result of tender for establishment of five settlements in Bilasuvar.
12 October 2006 [20:28]

President Aliyev: "Without Azerbaijan Nabucco Project useless"

President Traian Basescu and his Azerbaijani counterpart, Ilham Aliyev, on Wednesday discussed the construction of new pipes for the transport of gas and petrol into the European market, according to a press release from the presidential administration.
12 October 2006 [20:21]

Trades at BICEX

The weighted average exchange prices made up 0.8734 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 12.
12 October 2006 [19:00]

Azerbaijan could permit Iran gas transit to Georgia

If Georgia and Iran reach a natural gas export agreement, Azerbaijan is ready to allow Iranian gas to be transited across its territory to Georgia, the country's industry and energy minister said Thursday.
12 October 2006 [16:40]

Azerbaijan-Romania business relations expanding

Meeting between the Azerbaijani and Romanian businesspersons was held October 11 at the Azerbaijan National Confederation of Entrepreneurs (Employers) Organizations (ASK).
12 October 2006 [15:55]

Oil falls to lowest level this year

Oil prices fell to their lowest level this year on Thursday as traders waited for OPEC to thrash out details of an output cut and the market anticipated another rise in already hefty U.S. crude inventories.
12 October 2006 [15:30]

SOCAR oil output 49.51 mln bbl in 9M06, up 0.2%, y-o-y

The State Oil Company of Azerbaijan (SOCAR) said Thursday its crude output grew 0.2%, year-on-year, in the first nine months of 2006, to 6.736 million metric tons (49.51 million bbl).
12 October 2006 [14:20]

Industry and Energy Ministry proposes to write off old debts

Azerbaijani Industry and Energy submitted proposals to the Government on write-off of the debts of the enterprises.
12 October 2006 [13:15]

Natig Aliyev: "Azerbaijan not to hurry to set gas price with Russia"

The first Shah Deniz gas will be produced in December, Azerbaijani industry and energy minister Natig Aliyev said.
12 October 2006 [12:22]

Microsoft Windows XP OS localization to be completed by year's end

Azeri version of Microsoft Windows XP operating system will be put into use by this year's end.
12 October 2006 [12:12]

Georgia to repay debts to Azerbaijan by 2025

Georgian parliament has ratified the intergovernmental agreement on repayment of the state debt to Azerbaijan.
12 October 2006 [09:57]

Check-up of over 50 building companies starts in Azerbaijan

State Agency for Construction Safety has started check-up of over 50 construction companies, Agency Chairman Jabrail Khanlarov said.
12 October 2006 [09:55]

Azerbaijan has 947 ATMs and 1 574 POS machines

The number of ATMs reached 947 in Azerbaijan in September. This figure represents a 8.5% rise from early year.
12 October 2006 [09:53]

Gas production and gas delivery implemented by 95.3% and 94.4% in September

In Azerbaijan 560.93mn cubic meters of gas were produced in September as against the prediction of 588.85mn cubic meters and the figure shows that 95.3% of anticipation was implemented.
12 October 2006 [09:53]

496.19mn c.m of gas delivered to Azerigas in September

During August 496.19mn cubic meters of natural gas were delivered to Azerigas Company against the planned 525.48mn c.m by implementing the forecast by 94.4percent.
12 October 2006 [09:52]

Payment of electric bills reaches 53% in Masalli

The collection of electric bills stood at 53% in September in Masalli.
12 October 2006 [09:49]

Statoil-Azerbaijan's new president appointed

On Thursday SOCAR president Rovnag Abdullayev has received a delegation of Statoil Azerbaijan.
12 October 2006 [09:48]

Azercell signs new roaming agreements

Azerbaijani leading mobile operator Azercell Telecom Joint Venture has signed international roaming agreements with Mexican Pegaso (TEMM) and Algerian Wataniya mobile operators.
12 October 2006 [09:46]

Georgia owes Azerbaijan 13mn kilowatt/h energy

Georgia owes Azerbaijan 13mn kilowatts/h of electric energy.
12 October 2006 [09:44]

Taxes Ministry finds irregularities in 28 424 trade facilities

Taxes Ministry Operational Control Department have to date examined 21 652 various kinds of trade facilities and found serious irregularities in 28 424 of them.
12 October 2006 [09:43]

Transport Ministry delegation to visit South Korea

Delegation, led by Azerbaijani Transport Minister Ziya Mammadov, will pay visit to South Korea in late October and early November.
12 October 2006 [09:41]

Electric bills reaches 84.3% in Ganja during January-September

During past nine month collection of the electric bills in Ganja increased by 32.2% as against the same period last year.
12 October 2006 [09:41]

SOCAR ready to cooperate with Romanian oil&gas companies

SOCAR president Rovnag Abdullayev has received a delegation headed by Romanian-Azerbaijani commerce and industry chamber president George Dragomir.
12 October 2006 [09:39]

Baku to host gathering of Azerbaijan-Italian commission

It is planed to hold the meeting of Azerbaijan-Italian intergovernmental commission in Baku October 20.
12 October 2006 [00:12]

Oil hits 2006 low as OPEC haggles over deal

Oil fell to fresh 2006 lows below $58 on Wednesday as OPEC haggled over details of an output cut and the West's energy watchdog cut its demand growth forecasts.
12 October 2006 [00:08]

USACC successfully completes U.S. trade mission to Azerbaijan

The United States-Azerbaijan Chamber of Commerce (USACC) hosted U.S. Trade Mission to the Republic of Azerbaijan for leading U.S. firms specializing in Information and Communications Technologies (ICT) on October 1-4, 2006.
11 October 2006 [22:53]

Trades at BICEX

The weighted average exchange prices made up 0,8734 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 11.
11 October 2006 [22:50]

Eurasia completes development plan field work in Azerbaijan

Eurasia Energy Limited ("Eurasia") announces that it has completed all field work necessary to conclude the development plan for Eurasia's 600 square kilometer offshore oil and gas block (the "Block") in the Republic of Azerbaijan.
11 October 2006 [22:47]

Iran participating in International Building Fair in Baku

About 100 companies from 20 countries including Azerbaijan, Russia, Iran, Turkey, Germany, France, Ukraine, Belarus, Kazakhstan, Poland, Finland and South Korea have participated in the exhibition to showcase their machinery and construction materials in the field of building construction.
11 October 2006 [22:46]

Romanian president talks up oil for Europe in Azerbaijan

Hydrocarbons produced in the Caspian Sea could be shipped to European markets through Romania, the country's president Traian Basescu said Wednesday during a two-day visit to oil-rich Azerbaijan.
11 October 2006 [15:47]

Baku hosts BakuBuild 2006 and BakuMebel 2006 and Real Estate exhibitions

12th Azerbaijan International Construction Exhibition (BakuBuild 2006) and 4th International Furniture and Woodworking, Interiors and Design Exhibition (BakuMebel 2006) and 1st Real Estate Exhibition started on Wednesday.
11 October 2006 [15:41]

CITES keeps ban on Caspian caviar and sturgeon export from Azerbaijan

CITES (Convention on International Trade in Endangered Species of Wild Flora and Fauna) kept in force the ban on fishing and export of black caviar and Caspian sturgeon from Azerbaijan in the meeting of the standing secretariat.
11 October 2006 [14:46]

Issuing permit for new construction suspended in Baku

"16-storeyed buildings were built in Baku on the basis of permits for 12-storeyed ones. These facts are under investigation," chairman of State Agency for Construction Safety Jabrail Khanlarov said.
11 October 2006 [13:22]

Azeri-Ukraine business forum to be held in December

The Azerbaijan-Ukraine business forum will be held during the Ukrainian businessmen's visit to Azerbaijan in December.