Business

29 December 2006 [17:57]

Gazprom Office in Baku to be closed

Russian gas monopoly Gazprom's Office in Baku may shut down in the nearest future.
29 December 2006 [16:12]

Impostors "examine" business enterprises in Azerbaijan

Azerbaijan Economic Development Ministry has received complaints saying impostors "examine" the business enterprises pretending to be officers of Antimonopoly Policy Department of the Ministry.
29 December 2006 [16:03]

State company to import goods in Azerbaijan

The Government of Azerbaijan intends to set up a state-controlled company for imports in order to ensure food security in the country.
29 December 2006 [01:15]

Issue prospectus of three joint stock companies registered

Azerbaijan State Committee for Securities registered Issue prospectus of three joint stock companies.
29 December 2006 [01:14]

ICT Ministry emergency service on alert

29 December 2006 [01:11]

Trades at BICEX, Dec. 28

The weighted average exchange price made up 0.8714 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange on Thursday.
29 December 2006 [01:10]

Baku electricity grid overloaded due to cold weather

The electricity grid of Bakielectricshebeke has been overloaded due to cold weather condition.
29 December 2006 [01:05]

Per capita income grows by 21.2%

During the period of January-October Azerbaijani population's total incomes rose 22.5%, year-over-year, to AZN 9.2232 billion.
29 December 2006 [01:04]

Azerbaijan to produce daily 85m kilowatts of electricity on holidays

There will be no problem with electricity supply in Azerbaijan despite in spite of high consumption.
29 December 2006 [01:03]

AZAL to issue e-tickets from January

AZAL plans to put the first electronic air tickets on sale at the beginning of the 2007.
29 December 2006 [00:58]

Andrey Illarionov: "Azerbaijan is leading country among CIS states for GDP growth rate"

This year, Azerbaijan is the most developed country among CIS countries.
29 December 2006 [00:20]

Contract awarded for Turkey F-16 upgrades

Lockheed Martin has received a contract to continue upgrading the Turkish Air Force's F-16 fighters.
28 December 2006 [22:22]

Azeri Internet, cell phone use to rise in coming years

The development of information technologies in Azerbaijan will increase the number of mobile phone and Internet users through 2009, a Britain-based research center predicts.
28 December 2006 [18:17]

Baku Metro to operate on special schedule

Baku Metro will operate on special schedule on the forthcoming holidays.
28 December 2006 [18:16]

AZAL to open additional flights to Moscow

Azerbaijan Airlines Company will open additional flights on Baku-Moscow-Baku route in connection with New Year, Sacrifice Feast and Solidarity Day of World Azerbaijanis.
28 December 2006 [18:14]

Azerbaijan to purchase Be-200 amphibious aircraft

Portugal and Azerbaijan intend to purchase Be-200 amphibious multirole twinjet aircraft, Russian Emergencies Minister Sergey Shoigu told the journalists.
28 December 2006 [18:07]

Basic age pension to reach AZN 50 next year

In Azerbaijan the basic age pension will be doubled to AZN 50 by the end of 2007, and will further be increased to the subsistence level within three years, State Social Defense Foundation chair Salim Muslumov said.
28 December 2006 [17:03]

January 8, 2007 - the first working day in Azerbaijan

There will be nine nonworking days in Azerbaijan.
28 December 2006 [14:44]

Georgia, Turkey to sign free trade agreement - Saakashvili

A free trade agreement between Georgia and Turkey will be signed in March, Georgian President Mikhail Saakashvili said at a meeting with businessmen on Tuesday.
28 December 2006 [13:46]

Legal and Individual persons fined AZN 71427, 83 for damages to environment

This year, legal and individual persons were fined AZN 71427, 83 for damages to environment, Ecology and Natural Resources Ministry Environmental Protection Department told.
28 December 2006 [12:44]

Favorable balance of trade exceeds $1bn in Azerbaijan in Jan-Nov

Favorable balance reached $1.0014899 billion in exports and imports of Azerbaijan during the period of January-November.
28 December 2006 [12:43]

Gas supply to Bilasuvar cut off

Natural gas supply to Bilasuvar has been cut off because of unsatisfactory payment of gas bills.
28 December 2006 [12:41]

Azerfon President: "Azerfon to vigorously compete with other operators"

"Azerfon has its own price policy, but it's highly sensitive point because of commercial rules. I dare say that our prices will compete in the market," new GSM operator Azerfon President John Armley said.
28 December 2006 [12:36]

Azercell shareholder Fintur Holdings B.V. management changes

Following the announcement of TeliaSonera's new organisational structure last month, Mr. Serkan Elden has been appointed as CEO of Fintur Holdings B.V. to replace Mr. Erdal A. Durukan, who was appointed as President of TeliaSonera Eurasia earlier.
28 December 2006 [12:34]

Trades at BICEX, Dec. 27

The weighted average exchange price made up 0.8715 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange on December 27.
28 December 2006 [12:31]

Suburban bus station to be commissioned in 2007

Construction of suburban bus station complex has continued to progress on schedule in Baku.
28 December 2006 [12:30]

Gunay Anadolu Insurance to offer financial risk insurance and profession policies

Gunay Anadolu Insurance intends to offer financial risks insurance service from next year.
28 December 2006 [12:26]

EBRD to develop new cooperation strategy with Azerbaijan

European Bank for Reconstruction and Development (EBRD) will develop a new cooperation strategy with Azerbaijan.
28 December 2006 [12:24]

Electricity supplied to some districts with interruptions

On Wednesday electricity was supplied to some districts of Baku with interruptions.
28 December 2006 [12:23]

Thames Insurance to increase nominal capital by 33%

Thames Insurance Company, operating in Azerbaijan, intends to increase its authorized capital by 33.3% in 2007.
28 December 2006 [12:22]

Iranian Transport Minister to visit Baku

At the invitation of Ziya Mammadov, Iranian Transport Minister Muhammad Rahmeti will pay a visit to Azerbaijan in the second half of January.
27 December 2006 [23:37]

Ukraine can offer new transit route for Azeri oil

Ukraine could offer a new transit route for oil exports from Azerbaijan, the Ukrainian energy minister said Wednesday.
27 December 2006 [23:08]

Compensation granted to Azerbaijani Armed Forces officers and ensigns to be trebled

Food compensation for granted to Azerbaijani Armed Forces officers and ensigns will be increased by AZN 70-80 next year.
27 December 2006 [23:04]

All banks to convert old currency notes under presidential decree

President Ilham Aliyev issued a decree to amend the denomination decree dated 7 February 2006.
27 December 2006 [15:42]

Azerbaijan annuls cooperation agreement with ConocoPhilips on developing oil field

Azerbaijan's state oil company has annulled a cooperation agreement with ConocoPhilips on developing the Umid-Babek oil field, a senior official said Wednesday.
27 December 2006 [12:51]

Natig Aliyev: "Azerbaijan refuses Russian gas"

"Azerbaijan's giving no answer to Gazprom in negotiations on Russian gas imports to Azerbaijan means refusing Russian gas supplies," stated Azerbaijan's Industry and Energy Minister Natig Aliyev.
27 December 2006 [10:57]

Trades at BICEX, Dec. 26

The weighted average exchange price made up 0.8716 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange on Tuesday.
27 December 2006 [10:28]

Economic Development Ministry monitors meat and livestock market

Economic Development Ministry Antimonopoly Department has started monitoring meat and livestock market.
27 December 2006 [10:27]

Azerbaijan-France commission to meet in Paris

The fourth meeting of Azerbaijan-France intergovernmental commission for economic cooperation is scheduled to be held in Paris.
27 December 2006 [10:17]

Inflation rate hits 8% in Azerbaijan

The prices of consumption goods and services went up 1.3 percent during November, and 8% as against the same period last year.
27 December 2006 [10:16]

Japanese businessmen to visit Azerbaijan

"Some Japanese businessmen study the situation in Azerbaijan to start a business," said Ambassador Tadahiro Abe.
27 December 2006 [09:57]

Hotel activities to be licensed

Azerbaijan Culture and Tourism Ministry will start licensing hotel activities from January 10.
27 December 2006 [09:57]

Det.AL intends to build aluminum plant

Det.AL Ltd Joint venture (UK and Arab States) will start to construct new aluminum plant in Ganja in March.
27 December 2006 [09:55]

Azerbaijan's foreign debt to hit $2.1bn

The foreign debt of Azerbaijan is anticipated to hit USD 2.1 billion by this year's end, which is a 27.3% rise from early year.
27 December 2006 [09:55]

Shirvan Oil's gas production increased by 13%

Onshore Shirvan Oil Company, which is developing Kurovdagh onshore field, produced 14.8m cubic meters of gas during January-November.
27 December 2006 [09:45]

NTRC chairman: "Illegal cable broadcasters to be punished"

"The number of companies involved in illegal cable broadcast is increasing. Ministry of Interior Affairs and local administrative bodies are working together to prevent the issue. Such company leaders will be punished soon," stated National Television and Radio Council chairman Nushirevan Meherremli.
26 December 2006 [23:45]

Shah Deniz gas field halts production after leak

Azerbaijan's Shah Deniz gas field has halted production due to a leak, just after its launch by operators BP and Norway's Statoil this month, Azeri state energy firm SOCAR said on Tuesday.
26 December 2006 [23:43]

Turkey, Georgia and Azerbaijan to hold more talks on sharing of Caspian gas

Energy ministers from Turkey, Georgia and Azerbaijan will hold more talks in Istanbul to discuss the sharing of gas from the giant Shah Deniz field off Azerbaijan's Caspian coast, the Turkish minister said Tuesday.
26 December 2006 [23:30]

Emergencies Ministry announces companies importing low-quality cement

Emergencies Ministry announced the names of the companies importing low-quality cement to the country.
26 December 2006 [23:03]

Ukraine proposes Azerbaijan the transportation of Caspian oil to Europe

The Head of Ukrainian Government Viktor Yanukovych disclosed during his meeting with the Prime Minister of Azerbaijan Artur Rasizade in Baku, according to the press-office of the Cabinet of Ministers.
26 December 2006 [23:01]

Ukraine satisfied with state of trade-economic relation with Azerbaijan

Ukraine's Economics Minister Volodymyr Makukha said this during Prime Minister Viktor Yanukovych's visit to Baku, Azerbaijan.
26 December 2006 [22:58]

Azerbaijan will not buy Russian gas at $235 per 1,000 cu m

Azerbaijan will not buy natural gas from Russia at $235 per 1,000 cubic meters, the head of the State Oil Company of Azerbaijan (SOCAR) said Tuesday.
26 December 2006 [17:11]

Schengen states to raise Schengen visa due by ?60 from 1 Jan 2007

The embassies represented the Schengen states in Azerbaijan released information to the press.
26 December 2006 [14:54]

Mikhail Saakashvili regarded Ilham Aliyev's decision as act of heroism

Georgian President Mikhail Saakashvili took stance on Azerbaijani gas supply during the meeting with the students of Tbilisi State University.
26 December 2006 [12:48]

President Aliyev to issue decree on social mortgage lending

In first ten-day of January Azerbaijani President will sign a decree on social mortgage lending.
26 December 2006 [10:26]

AMFA develops three-year strategy plan

Azerbaijan Micro Fiannce Association is developing a three-year strategy plan on its activities and development.
26 December 2006 [10:25]

NBA Management Board composition remain unchanged

The composition of the Management Board of the National bank of Azerbaijan will not be changed.
26 December 2006 [10:24]

Azerbaijan, ADB to sign memo

Azerbaijan Communications and Information Technologies Ministry will sign a memorandum with the Asian Development Bank.
26 December 2006 [10:23]

4.6m bank accounts in Azerbaijan

4.6m bank accounts have been opened in bank system of Azerbaijan.
26 December 2006 [10:22]

Bank savings grew by 54%

As of November 1, the total amount of bank savings rose 54.1%, year-over-year, to AZN 704.9m in Azerbaijan.
26 December 2006 [10:21]

Deutsche Bank, Microcredit Entrepreneurs and Developing World Markets interested in Azerbaijan

Deutsche Bank, Microcredit Entrepreneurs and Developing World Markets show great interest in the microfinance sector of Azerbaijan.
26 December 2006 [10:18]

IBA chosen Bank of Year

International Bank of Azerbaijan was awarded the Bank of 2006 by the Banker magazine.
26 December 2006 [10:17]

NTRC Chief to meet with chiefs of cable televisions

On Tuesday, the chief of National Television and Radio Council Nushirevan Meherremli will meet with the chiefs of cable televisions in Azerbaijan.
26 December 2006 [10:03]

Ganja Automobile Plant to assemble tractors and trucks

Ganja Automobile Plant (GAP) intends to assemble the first Belarus tractors and MAZ trucks in January, 2007 as per the November 22 agreement concluded with Minsk Automobile and Tractor Plants which will enable it to assemble and sell tractors and trucks.
26 December 2006 [01:06]

Iran in talks with LUKoil over North Azadegan Oilfield

National Iranian Oil Company (NIOC) is currently in talks with Russia's LUKoil on the development of North Azadegan Oilfield, southern Iran, NIOC managing director said.
26 December 2006 [00:51]

Trades at BICEX, Dec. 25

The weighted average exchange prices made up 0.8716 AZN for 1 US dollar in the Baku Interbank Currency Exchange on December 25.
26 December 2006 [00:46]

Turkish official: No Turkey-Georgia gas deal yet

Turkey has not yet reached a deal with Georgia to supply the ex-Soviet republic with much-needed gas next year but expects talks to be concluded in one week, a senior Turkish Energy Ministry official told Reuters on Monday.
25 December 2006 [19:53]

Azerbaijan about to replace Russia with Iran in energy cooperation

Azerbaijani and Russian energy officials have today met in Baku to discuss the electricity imports to Azerbaijan, Azerenergy Marlen Asgarov said.
25 December 2006 [19:46]

Iran ready to transfer gas to Azerbaijan

The trade turnover between Azerbaijan and Iran has increased 30% and it is over $700m.
25 December 2006 [19:13]

Rasizade: "Azerbaijan can help Georgia with gas supply"

Azerbaijan can help Georgia with the gas supply in the winter in an amount of one million cubic metres a day, Azerbaijani Prime Minister Artur Rasizade said after talks with his Georgian counterpart Zurab Nogaideli on Monday.
25 December 2006 [14:24]

National Bank: "Old banknotes out of use from next year"

People can exchange the old banknotes with the denominated manat at the National Bank and commercial banks by this year's end, but only the national bank will convert old currency notes as of January 1, 2007, National bank officer Hajibaba Masimov stated.
25 December 2006 [14:13]

Azeri energy system on the alert during holidays

Bakielectricshebeke will successfully supply electricity to Baku and surrounding settlements on forthcoming holidays, the Company told.