Business

06 December 2006 [13:33]

Turkey-Israel energy talks to focus on multiple pipelines

Turkey and Israel are set to discuss multiple pipeline projects that will transport energy resources such as natural gas, oil and electricity as well as water.
06 December 2006 [13:21]

Baku hosts Azerbaijan-France business forum

Today Baku hosts Azerbaijan-France business forum.
06 December 2006 [10:35]

Baku hosts Macroeconomic Regulation in Oil Boom Training

According to the Memorandum of Understanding signed between the Asian Development Bank and the Azerbaijan in the framework of the project "Technical assistance for potential strengthening of economic development of Azerbaijan," an international training on Macroeconomic regulation during Oil Boom has started in the Center of Economic Reforms.
06 December 2006 [10:34]

Daewoo delegation to visit Azerbaijan

On December 15 a delegation of Korean Daewoo company will pay a business visit to Azerbaijan.
06 December 2006 [10:33]

Bank Standard lends mortgage loans in regions

Bank Standard JC has started to lend mortgage loans in regions of Azerbaijan. The Bank's branches in Ganja and Lenkeran lent the first mortgage loans.
06 December 2006 [10:10]

Softline becomes official distributor of Kaspersky Lab

Softline has become official distributor of Kaspersky Lab in Azerbaijan.
06 December 2006 [10:09]

Azerbaijan, Georgia to set electricity exchange schedule

Azerbaijan and Georgia will soon set electricity exchange schedule.
06 December 2006 [10:08]

2bn KW/h electricity generated in Azerbaijan

During November some 2bn kilowatts of electricity were produced in Azerbaijan.
06 December 2006 [10:05]

Rovnag Abdullayev meets McDermott president

SOCAR President Rovnag Abdullayev received a delegation led by J. Ray McDermott President Robert A. Deason.
06 December 2006 [10:03]

Inam trade center's facilities to be removed

Facilities in Inam trade centre will be removed to a new trade centre in Yeni Ganja.
06 December 2006 [09:59]

Community Glossary project for Microsoft Windows Vista and Microsoft Office in Azeri continues to progress

Microsoft Azerbaijan held a roundtable on the Community Glossary project for Windows Vista language and 2007 Microsoft Office in Azerbaijani Language.
05 December 2006 [21:15]

Azerbaijan in IDB talks

Etibar Pirverdiyev, President of the Azerenergy electricity company in Azerbaijan, says that Azerbaijan is in talks with the Islamic Development Bank (IDB) concerning a loan worth US$95M to finance the reconstruction of the Mingyachaur hydroelectric power plant.
05 December 2006 [21:11]

Trades at BICEX, Dec. 5

The weighted average exchange prices made up 0,8723 AZN for 1 US dollar in the Baku Interbank Currency Exchange on December 5.
05 December 2006 [21:09]

French businessman arrive in Baku

The delegation of French businessmen led by Christian Monse, Chairman of the Central Asia and Caucasus department of MEDEF, Movement of the French Enterprises, arrived today in Baku, French Embassy to Azerbaijan said.
05 December 2006 [20:42]

ICT sector incomes to exceed petrodollars by 2015 in Azerbaijan

Communications and Information Technologies Minister Ali Abbasov interviewed by APA.
05 December 2006 [17:37]

Inam trade centre in Ganja closed

All the facilities in Inam trade centre were closed in the morning in Ganja. The traders were allowed to remove their goods till the evening.
05 December 2006 [15:41]

Azerbaijan Needs No Russia for Crude Supplies

Russia's Premier Mikhail Fradkov digested an unpleasant surprise at the very start of his visit to Baku, the capital of Azerbaijan. The Azeri counterpart of Fradkov, Artur Rasizade, said that, from Jan. 1, his country can independently meet its gas requirements and won't call on Moscow to cut down the tariff rates for oil deliveries via Baku-Novorossiisk pipeline. In this environment, Russia is forced to soften the negotiating rhetoric.
05 December 2006 [15:22]

Taxes Ministry opens WAP version

Today WAP version of the website of Azerbaijan Taxes Ministry has been opened.
05 December 2006 [14:34]

Gas escaping from main pipeline causes fire in Sulu Tepe

Gas escaping from a 500-mm gas main pipeline caused a fire in Sulu Tepe (a Baku suburb).
05 December 2006 [10:45]

Intelligence Brief: Iran Offers Energy Supplies to Azerbaijan

In late November, Unified Energy Systems, Russia's electricity monopoly, announced that it would cut electricity supplies to Azerbaijan from 300 megawatts to 60 megawatts in 2007.
05 December 2006 [10:40]

BSE's turnover up in Jan-Nov

In total the deals concluded on all instruments at the Baku Stock Exchange during the period of January-November stood at approx. AZN 1.130bn.
05 December 2006 [10:35]

Customs taxes and duties collection rises by 39.7% in Jan-Nov

Against planned AZN 462.54m the State Customs Committee of Azerbaijan transferred taxes and duties of AZN 471.99m to the State Budget during January-November of 2006. The forecast was met by 102.04 percent
05 December 2006 [10:35]

Deals closed at BICEX fell by 7.2% in November

107 deals were registered at 40 trading sessions held at currency department of Baku Interbank Currency Exchange (BICEX) during November. The auctions were attended by 21 banks. In total deals of AZN 147 508 000 were concluded.
05 December 2006 [10:34]

Azerbaijan imports 14.9m cu m of gas from Russia per day

SOCAR imported 364.4m cubic meters of gas from Russia in November for thermal power stations.
05 December 2006 [10:33]

Russian proposal to hike natural gas prices gets cool reception in Azerbaijan

Russia's state-controlled natural gas monopoly on Monday formally proposed more than doubling the price Azerbaijan pays for gas, prompting a cool response from Azerbaijan's prime minister.
05 December 2006 [10:33]

Electric and gas meter installation delays in Lenkeran

Provision of customers with electric and gas meters delays in Lenkeran.
05 December 2006 [10:33]

Koch Bank Azerbaijan tops ranking of dealer

In November, according to the calculations by the Analytical Department of the BSE, in the government securities market (excluding repo operations market) Koch Bank Azerbaijan headed the ranking of dealers with dealer operations in the total amount of AZN 18 130 353,70.
05 December 2006 [10:32]

Azeri manat strengthens against US dollar

During November Azerbaijani manat (AZN) strengthened against the US dollar by 0.07%- from 0.8722AZN/USD1 to 0.8716AZN/USD1at the Baku Interbank Currency Exchange.
05 December 2006 [10:32]

Standard Insurance increases premium collection by 2.3 times

Standard Insurance increased the total volume of premiums by 2.3 times, year-over-year, in January-September, to AZN 6 514 000.
05 December 2006 [10:28]

AtaBank assets grow by 65%

As of November 1, the total assets of Atabank grew by 65% in the period of January-October to AZN 51.4m.
05 December 2006 [10:24]

Rural Investment Project spends $175 475

Azerbaijan Rural Investment Project has to date spent $175 475 and 27 projects have been implemented, 24 projects are in assessment, 57 projects are online, 62 projects are in preparation, Project deputy director Gulbaniz Gambarova said.
05 December 2006 [10:23]

Baku Module Plant to be commissioned in January

Construction of Baku Module Power Station has continued to progress and the plant will be commissioned in January, 2007.
05 December 2006 [10:22]

Huseyn Arabul to sue AzTV

Barmek-Azerbaijan Electric Network Limited Liability Company (LLC) president Huseyn Arabul will sue Azerbaijan State Television and Radio Programs Closed Joint-Stock Company.
05 December 2006 [10:21]

National Depositary Center registers 12 contracts in November

National Depositary Center registered 12 contracts on maintaining and registration of the stocks of joint stock companies.
05 December 2006 [10:21]

Azercell installs 36 more base radio stations in November

Azercell Telecom continues its work on expanding field of its coverage and to provide high-quality telecommunication services in the country.
04 December 2006 [20:49]

Trades at BICEX, Dec. 4

The weighted average exchange prices made up 0,8723 AZN for 1 US dollar in the Baku Interbank Currency Exchange on December 4.
04 December 2006 [20:31]

Azerbaijan is self-sustaining in gas, Russian PM says

Azerbaijan can provide itself with natural gas, Russian Prime Minister Mikhail Fradkov told journalists after a meeting with his Azeri counterpart.
04 December 2006 [20:30]

Gazprom to complete talks with Azerbaijan by year-end

Negotiations on Russian natural gas supplies to Azerbaijan are underway and will be completed before the end of December, Valery Golubev, the Acting Deputy Chairman of Gazprom's Management Committee, told journalists in Baku on Monday.
04 December 2006 [17:39]

Rasizade: "Azerbaijan wants Baku-Novorossiisk pipeline to keep functioning"

Azerbaijan is interested in the continued operation of the Russia-controlled Baku-Novorossiisk oil pipeline, and will not reduce its own oil transit tariffs, the country's prime minister said Monday.
04 December 2006 [16:33]

Kars-Tbilisi-Baku railway construction to be launched in Spring 2007

The Kars-Akhalkalaki-Tbilisi-Baku railway project is supposed for implementation in spring 2007, Georgian Prime Minister Zurab Noghaideli told reporters.
04 December 2006 [15:44]

Fradkov offers Azerbaijan to expand spheres of coop

Russian Premier visits Azerbaijan.
04 December 2006 [15:04]

Baku hosts Azerbaijan-Austria business forum

On Monday Azerbaijan-Austria business forum was held in Baku by Azerbaijan Economic Development Ministry.
04 December 2006 [12:20]

Azerbaijan Pumps Oil from Russia

On the eve of Russian Premier Mikhail Fradkov's visit to Baku, Azerbaijani authorities made it clear they are ready for a long-term conflict with Moscow. Azerbaijan's President Ilham Aliyev ordered to his Cabinet to estimate the possibility of declining oil transit through Russia's territory in response to the growth in prices of Gazprom's gas supplies to Azerbaijan. The attempt to include Baku into the anti-Georgian bloc might be considered as failed.
04 December 2006 [12:15]

B&BTV in talks with Russian TV companies

Talks with Russian TV companies that blame Azerbaijani B&BTV and other cable televisions for piracy has begun.
03 December 2006 [13:46]

State Ecological Examination Dept. has evaluates environmental impact of ACG

The State Ecological Examination Dept. has evaluated the environmental impact of the Azeri-Chirag-Guneshli (ACG) offshore oilfield development project.
03 December 2006 [13:44]

Over a million VISA cards issued in Azerbaijan

Azerbaijani banks have issued over 1 million VISA cards.
03 December 2006 [13:42]

SOCAR and Conoco Phillips to cooperate on Babek and Umid prospect areas

SOCAR's President received the Conoco Phillips delegation headed by its Executive Vice-President, William Berry.
03 December 2006 [13:40]

SOCAR's oil fleet receives two more modern ships

SOCAR has received the Citadel and Baki ships built to the Kaspmornefteflot/BUE Caspian's order. Kaspmornefteflot (Caspian Sea Oil Fleet) is SOCAR's oil fleet.
03 December 2006 [13:39]

Six employees of Barmek-Azerbaijan to be convicted

The Grave Crimes Court of Azerbaijan will convict six employees of Barmek Azerbaijan (the former manager of the Baku Electricity Grid).
03 December 2006 [13:37]

Two more Azeri banks to join VISA

Two more Azerbaijani banks will probably join VISA International soon.
03 December 2006 [12:40]

Azerbaijan may cut or stop oil exports via Russia

Azeri President Ilham Aliyev said on Friday his country would reduce or suspend altogether oil exports via Russia in response to Moscow's promise to cut gas supplies to Baku.
03 December 2006 [12:35]

Draft State Program of development of 2007-2015 agrosector presented to government

Agriculture Ministry presented the Draft state Program on the development of agrarian sector in 2007-2015 to the cabinet of ministers, Agriculture Minister Ismet Abbasov told the journalists.
03 December 2006 [12:14]

Tokens to be withdrawn from turnover in Baku subway

On December 1 Baku Metro began to limit selling of tokens in the stations where the number of passengers are more.
02 December 2006 [14:23]

Bank Standard bonds placed

The sixth bond issue of Bank Standard was placed at the Baku Stock Exchange.
02 December 2006 [14:16]

Zurab Nogaideli: "Talks very successful in Azerbaijan"

"2007 will be a year of example in the cooperation between Azerbaijan and Georgia," Zurab Nogaideli said.
01 December 2006 [18:20]

Babayev meets British Baroness

Heydar Babayev, Minister of Economic Development of Azerbaijan, has met with member of the House of Lords of the UK Parliament, Baroness O'Cathain.
01 December 2006 [17:06]

Ganja automobile plant to produce Belarussian tractors

Ganja automobile plant signed a protocol of cooperation with Minsk tractor plant to start production of Belarussian tractors, Director of the Ganja plant Khanlar Fatiyev said.
01 December 2006 [16:48]

Mortgage lending to increase

Mortgage lending is expected to more than double in Azerbaijan next year.
01 December 2006 [14:54]

Russian control of Iran-Armenia pipeline 'not a certainty'

The widely anticipated handover to a Russian company of a pipeline that will supply Armenia with Iranian natural gas is not a forgone conclusion, Prime Minister Andranik Markarian claimed in a Russian newspaper interview published on Friday. He also reiterated Yerevan’s hopes that Russia will defuse its festering confrontation with Georgia.
01 December 2006 [14:50]

Armenian Parliament passes 2007 budget

Armenia's parliament on Wednesday passed a 2007 budget with a deficit equivalent to US$155 million (euro118 million).
01 December 2006 [14:23]

UN experts: "The world energy security depends directly on Caspian oil and production perspectives"

"The energy security of the world depends directly on Caspian oil and production perspectives.” UN European Commission Economic (UNECE) report 'A Global Overview and Global Energy Security and the Caspian Sea Region' says.
01 December 2006 [13:44]

Azerbaijan asks Japan for new grant to buy agricultural equipment

Azerbaijan's Agriculture Ministry has asked Japan for a new grant of $8 million to buy agricultural equipment.
01 December 2006 [13:39]

Anglo Asian Mining says Gedabek resource estimate 1.08 mln oz gold equivalent

Anglo Asian Mining PLC said its Gedabek project in Azerbaijan has a resource estimate of 1.08 mln ounces of gold equivalent with a possibility of expansion in a number of directions.
01 December 2006 [12:55]

Kazakhstan interested in South Caucasus pipeline

General Director of KazTransGaz, Serik Sultangaliev, says that Kazakhstan is interested in joining the South Caucasus natural gas pipeline (also known as the Baku-Tbilisi-Erzurum or Shah Deniz pipeline).
01 December 2006 [11:00]

EU, Caspian, Black Sea states plan common energy market

A plan that paves the way for an integrated common energy market between the European Union and governments of the oil and gas rich Caspian and Black Sea regions was agreed at a ministerial conference held in the Kazakh capital, Astana.
01 December 2006 [10:52]

Taxes Ministry finds irregularities in 35 958 trade facilities

Taxes Ministry Operational Control Department have to date examined 153 097 various kinds of trade facilities and found serious irregularities in 35 958 of them.
01 December 2006 [10:51]

AtaBank's assets grow 65%

The total assets of Atabank grew by 65% in the period of January-October to AZN 51.4m.
01 December 2006 [10:50]

12 regions undertake to pay gas bills

Azerigas sent a letter to 13 regions of Azerbaijan to warn them against unsatisfactory collection of gas bills.
01 December 2006 [10:49]

Azerenergy warns 46 executive power chiefs

Azerenergy has sent a letter of warning to executive power heads of 46 regions on unsatisfactory level of collection of the electric bills.
01 December 2006 [10:49]

Azercell Telecom concludes roaming deal with Telenor

Azercell Telecom JV has concluded a roaming agreement with Pakistan's Telenor.
01 December 2006 [10:47]

TRACECA Permanent Secretariat to meet in Chisinau

A meting of Permanent Secretariat of TRACECA Intergovernmental Commission and national secretaries of the member states will take place in Chisinau, Dec. 14-15.
01 December 2006 [10:36]

Bank Standard signs agreement with Azauto and Itochu

Bank Standard concluded a trilateral agreement with Azauto and ITOCHU Corporation.
01 December 2006 [10:35]

Trades at BICEX, Nov. 30

The weighted average exchange price made up 0.8716 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange.
01 December 2006 [10:34]

Azerkreditbank's assets grow 53%

The assets of Azerbaijan Credit Bank Joint Stock Commercial Bank grew by 53% in January-September to AZN 7.8m.