Business

04 May 2007 [09:31]

Over 140 national reference standards made in Azerbaijan

Over 140 national reference standards have been made in Azerbaijan. Deputy Chief of Standardization Department of State Agency for Standardization, Metrology and Patents (SASMP) Galib Agayev said that Reference Standard Fund has been established in SASMP.
04 May 2007 [09:29]

Amount of March deals rises 29.4% on BICEX

145 deals were closed at 42 trading sessions held at currency department of Baku Interbank Currency Exchange (BICEX) during April.
04 May 2007 [08:09]

Azercell Telecom installs 19 more stations

Azercell Telecom JV has installed 19 more stations in Baku and different regions of the country in April this year.
03 May 2007 [17:50]

Taxes Ministry puts arrest on bank accounts of Azerenergy and Azerigas

Taxes Ministry has put arrest on the bank accounts of some state institutions and companies, Taxes Minister Fazil Mammadov told the journalists.
03 May 2007 [17:46]

Azerbaijan, Belarus to do trade through Belarus-Azerbaijan Trade House

Today, the officials of Azerbaijan's Economic Development Ministry and Belarus' Trade Ministry have come together in Baku to discuss business relations between the two countries.
03 May 2007 [17:32]

Palmali to transport SOCAR oil from Ceyhan Port

The State Oil Company of Azerbaijan (SOCAR) and Palmali Group of Companies have signed an agreement on transportation of Azeri oil pumped to the Ceyhan Port via Baku-Tbilisi-Ceyhan pipeline.
03 May 2007 [16:22]

Azerbaijan, Belarus may jointly produce household fridges

Azerbaijan and Belarus are studying the prospects of producing household fridges jointly, this idea was suggested at a meeting between Belarus' Trade Ministry and Azerbaijan's Economic Development Ministry in Baku.
03 May 2007 [16:19]

Belarus shows interest to rent storehouses in Azerbaijan

Belarus' companies take great interest to rent storehouses in Azerbaijan, the country's trade minister Aleksandr Ivanchenko told a meeting at the Economic Development Ministry of Azerbaijan.
03 May 2007 [16:18]

Nobody arrested in connection with examination in Avropa Gapilari

Nobody has been detained in connection with the examination in Avropa Gapilari (European Doors) Open Joint Stock Company.
03 May 2007 [16:17]

Taxes Ministry sends results of examination in Azpetrol to court

Ministry of taxes has sent the results of the examination in Azpetrol to the court.
03 May 2007 [16:14]

Romanian Oil Company intends to penetrate Azeri market

Romania's oil company is planning to penetrate Azerbaijani market.
03 May 2007 [16:06]

Barmek President : "I worry about my health"

Barmek-Azerbaijan Electricity Networks LLC President Huseyn Arabul will undergo eye operation tomorrow.
03 May 2007 [12:56]

Huseyn Arabul to undergo operation tomorrow

Operation will start at 09.00 and last 4-5 hours.
03 May 2007 [12:02]

Trades BICEX, May 2

The weighted average exchange prices made up 0.8645 AZN for 1 US dollar in the Baku, Interbank Currency Exchange on May 2.
03 May 2007 [11:46]

Babayev meets Iranian envoy

Azerbaijan's Minister of Economic Development Heydar Babayev here on Wednesday underlined the need for expanding economic relations with Iran.
03 May 2007 [11:32]

UAE, Azerbaijan sign transport agreement

Sultan Bin Saeed Al Mansouri, UAE Minister of Government Sector Development, signed on Thursday an international transport agreement with Ziya Mammadov, Minister of transport of Azerbaijan, to enhance the bilateral trade and transportation between the two countries.
03 May 2007 [09:59]

Azeri businessmen to attend investment conference in Aktau

A delegation composed of representatives of about 20 companies of Azerbaijan will attend the conference on investment potential of Kazakhstan to be held in Aktau on May 10-11.
03 May 2007 [09:58]

Azerbaijan's trade mission to visit LA

Azerbaijan Export and Investment Foundation (AzPromo) will send a trade mission to Los Angeles in late May.
03 May 2007 [09:56]

Indictment announced in trial of Barmek officials

Trial on case of president of Barmek Azerbaijan Electricity Distribution LLC Huseyn Arabul and six more company officials, who are accused of abuse of power, embezzlement and negligence of court judgements, continued at the Court of Grave Crimes.
03 May 2007 [09:51]

Azerbaijan gives up oil transit via Russia's territory

Azerbaijan has given up oil transit via Russia's territory, the Prime-Tass news agency quoted Transneft as saying on Wednesday.
03 May 2007 [09:41]

Tourism Information Center to be set up at Belarus Embassy in Azerbaijan

Tourism Information Center is expected to be set up in Belarus Embassy in Azerbaijan.
03 May 2007 [09:38]

Azerbaijan leader hails energy cooperation with Belarus

Azerbaijan's president Wednesday spoke in favor of proactive energy cooperation with Belarus on mutually beneficial terms.
03 May 2007 [09:32]

Belarus, Azerbaijan intends to cooperate in vehicle production and road building

Belarus is negotiating on sales of Amkador road building vehicles in Azerbaijan, said Yuri Lositiski, deputy chair of Belarus' Commerce and Industry Chamber.
03 May 2007 [09:23]

Entrepreneurial Development Program to focus on businesswomen in separate section

National Confederation of Entrepreneurs (Employers') Organizations (ACE) officer Ilgar Asadov has today held a press conference.
03 May 2007 [09:21]

SOCAR meets with WB representatives

State Oil Company (SOCAR) President Rovnag Abdullayev has today met with World Bank Country Manager for Azerbaijan, Gregory Jedrzejczak, and Lead Economist for South Caucasus, Christian Petersen.
03 May 2007 [09:18]

GUAM Commerce and Industry Chambers to hold a meeting

The heads of GUAM Commerce and Industry Chambers will come together on June 16to discuss issues elated to cooperation, obstacles enterprises undergo and the current affairs.
03 May 2007 [09:18]

AIHA intends to extend programs in Azerbaijan

The American International Health Alliance (AIHA) intends to extend programs implemented in Azerbaijan and Georgia, US Ambassador to Georgia John Tefft said at the opening of the American International Health Alliance in Tbilisi.
03 May 2007 [09:13]

President Aliyev addresses to 10th Eurasian Economic summit participants

Azerbaijan's President Ilham Aliyev addressed to the participants of the 10th Eurasian Economic Summit in Istanbul city of Turkey.
03 May 2007 [09:10]

Azeri reps to attend Regional Communication Union's meeting

Joint meeting of Regional Communication Union's communication operators' council and electronic communication commission will be held in Bishkek on Thursday.
03 May 2007 [09:08]

National Depositary Center registers 7 contracts in April

The National Depositary Center of Azerbaijan registered 7 contracts on maintaining and registration of the stocks of joint stock companies in April.
03 May 2007 [09:07]

Azerbaijan to pave order and rule for internet resources

Azerbaijan's Communications and Information Technologies Ministry has drafted a package of proposals for security of the national cyber-space.
03 May 2007 [09:05]

Real Estate Registry service's District Land Office being restructured

Azerbaijan's Real Estate Registry Service's Baku District Land Office is being restructured aiming at increasing volume of work.
02 May 2007 [21:48]

Azerbaijani officials attend 10th Eurasian Economic Summit

The 10th Eurasian Economic Summit started in the meeting salon of Istanbul Chamber of Commerce today.
02 May 2007 [16:13]

Baku-Aktau sea route opens

Azerbaijan State Shipping Company has opened a route between Baku and Kazakhstan's Aktau Port.
02 May 2007 [15:35]

Interior Ministry states Avropa Gapilari has irregularities

Interior Ministry Department to Combat Organized Crimes is carrying out investigations on recently suspended OJSC Avropa Gapilari.
02 May 2007 [15:34]

Ganja Auto Plant to export tractors

Ganja Auto Plant's capacity enables to assemble 2,000 tractors annually, said Minsk Tractor Plant technical advisor Viktor Lubeshko.
02 May 2007 [14:16]

Court refuses Huseyn Arabul leaving Azerbaijan

Today trial on case of president of Barmek Azerbaijan Electricity Distribution LLC Huseyn Arabul and six more company officials, who are accused of abuse of power, embezzlement and negligence of court judgements, continued at the Court of Grave Crimes.
02 May 2007 [10:19]

BP chief quits over revelations about sex life

John Browne, an aggressive but mannerly British magnate who transformed BP into one of the most successful global companies, resigned abruptly Tuesday after losing a court battle with a London tabloid over disclosure of his sexual relationship with a younger man.
02 May 2007 [09:28]

Credit investments in Azeri economy doubles

As of April 1, the amount of loans, including non-performing loans invested in the economy of Azerbaijan doubled year-on-year reached AZN 2.8734 billion for the first quarter of 2007.
02 May 2007 [09:27]

Number of ATMs rose by 24%

The number of operational ATMs reached 1,105 in Azerbaijan as at April 1, up 24.2% or 215 from a year earlier.
02 May 2007 [09:26]

Two locomotives delivered to Baku

Two locomotives Azerbaijan State Railway Company (ADDY) bought from Russia have been delivered to Baku.
02 May 2007 [09:25]

IBA to lend mortgage loans

The International Bank of Azerbaijan has established a Mortgage Department to roll out the first mortgage loan this month.
02 May 2007 [09:24]

Astana to host meeting of CIS and Baltic countries' Council of Railway Transport

Astana will host the 46th meeting of CIS and Baltic countries Council of Railway Transport from May 17 to 19.
02 May 2007 [09:24]

WB, CIT Ministry Grants Program prolonged to May 15

Grants Program under "Information society - the new stage of development" slogan within the agreement between the World Bank and the Ministry of Communication and Information Technologies of Azerbaijan has been prolonged to May 15 while the deadline was late April.
02 May 2007 [09:23]

Workshop on Alternative Inflation Methodology Development held in Ganja

The Economic Research Center held a one-day workshop on the Alternative Inflation Methodology Development.
02 May 2007 [09:22]

Beijing to host China-Azerbaijan intergovernmental economic commission's first meeting

The first meeting of the intergovernmental economic commission between China and Azerbaijan will be held in Beijing this year.
02 May 2007 [09:20]

UniBank to establish 10 branches

Azerbaijan's UniBank intends to establish 10 new branches in Baku and regions.
02 May 2007 [09:19]

AzerEnergy installs new device to detect power failures

AzerEnergy has installed AURA-M microprocessor devices to detect power failures and cuts in a more efficient way.
02 May 2007 [09:13]

Azerbaijan achieves 36% rise in taxes and customs collection, Jan-Apr

Azerbaijan's customs bodies collected AZN 224.09 million in taxes and customs against the planned AZN 220.5 million with a surplus of 1.63% during January-April.
02 May 2007 [09:12]

Council of CIS Commerce and Industry Chambers to meet in Tbilisi

The fifth meeting of the Council of the Chambers of Commerce and Industry of Commonwealth of Independent States will be held in Tbilisi June 14-15.
02 May 2007 [09:12]

Sumgayit to host congress on GTZ's project

Sumgayit will host congress on the German Technical Cooperation Organization's (GTZ) project on cooperation between Germany and Caucasus partner cities.
02 May 2007 [09:11]

AAC to sign cooperation agreements with Baltic countries, Ukraine, Poland and Kuwait

Azerbaijani Accounting Chamber (AAC) intends to sign agreements on cooperation with some audit institutions this year.
02 May 2007 [09:09]

Trainings on Certified International Professional Accountant starts

Azerbaijan Bank Training Center (ABTC) organized trainings on CIPA- Certified International Professional Accountant for the specialists of financial institutes.
02 May 2007 [09:07]

Netty-2007 Azerbaijan National Internet Award chooses best websites

Netty-2007 Azerbaijan National Internet Award, an annual campaign aimed at choosing the best websites in the country, has held virtual jury vote to set nomination finalists.
01 May 2007 [21:27]

Baba Tagiyev: "I believe that the inspections in Avropa Gapilari OJSC will yield positive results"

"I think that there is misunderstanding in this problem. Every company can be inspected. I believe that the inspections will yield positive results," founder of Avropa Gapilari OJSC, parliamentarian Baba Tagiyev told.
01 May 2007 [17:46]

Huseyn Arabul feels bad in trial

Trial on case of president of Barmek Azerbaijan Electricity Distribution LLC Huseyn Arabul and six more company officials, who are accused of abuse of power, embezzlement and negligence of court judgements, continued at the Court of Serious Crimes.
01 May 2007 [17:37]

Reconstruction of Balakhani-Khirdalan highway to be completed by May 8

Commissioned by the Transport Ministry of Azerbaijan, Akkord Group of Companies has been reconstructing Balakhani-Khirdalan highway.
01 May 2007 [16:29]

AZN3.151mln and $68,189 gathered in Assistance Fund for Azerbaijani Armed Forces

AZN3.151mln was gathered in the Assistance Fund for Azerbaijani Armed Forces as for May 1.
01 May 2007 [16:16]

Azerbaijan drafts Popular Computer Project

Azerbaijan's Communications and Information Technologies Ministry has drafted the initial version of Popular (People's) Computer Project aimed at improving socially disadvantaged people's computer knowledge and access to the Net
01 May 2007 [13:16]

Electricity import from Russia restored

Azerbaijan starts to import electricity from Russian. Azerergy, Azerbaijan State Electricity Company, vise-president Marlen Asagarov told that the amount of the electricity will be defined in accordance with needs.
01 May 2007 [13:00]

FIM Bank pays EUR5, 900 fine and court costs to Azerbaijan

Malta FIM Bank has presented a cheque of EUR5900 to defender of the interests of Azerbaijani side due to the decision of Paris Court of Higher Instance passed on November 10.
01 May 2007 [11:08]

SOCAR to have new building

A site has been allotted in Heydar Aliyev Avenue to construct a new building for the State Oil Company of Azerbaijan (SOCAR).
01 May 2007 [11:04]

International Bank of Azerbaijan set to support key regional projects

International Bank of Azerbaijan is Azerbaijan's leading financial institution, representing a vital factor for national banking industry development and fostering the integration of the national economy into the world economy.
01 May 2007 [10:51]

Rabitabank opens new branch in Baku

Rabitabank opened a new branch in the center of Baku in 3, Merdanov Brothers Street (in the opposite of Russian Dram theatre).
01 May 2007 [10:50]

AAC to audit State Pedagogical University, ITC Ministry and Agroleasing

Azerbaijan Accounting Chamber (AAC) will audit Azerbaijan State Pedagogical University, Communication and Information Technologies Ministry's Joint Operation Center and Agroleasing OSJC.
01 May 2007 [10:48]

Kuwait Audit Bureau mission to visit Baku

A delegation from Kuwait Audit Bureau will visit Azerbaijan in the nearest future.
01 May 2007 [10:47]

Risky to keep SOFAZ's funds in local banks, says Shahmar Movsumov

Today it is risky to keep State Oil Fund's assets in the local banks. It is better to keep funds in foreign banks at low interest than in local bank at higher interest rates, said the Executive Director Shahmar Movsumov.
01 May 2007 [10:46]

Azeri banks' aggregate assets reach AZN 4.07 billion

The total amount of the assets owned by Azerbaijan's bank organizations reached AZN 4.069 billion as at April 1.
01 May 2007 [10:38]

Azerbaijan buys 3 new labs worth EUR 200,000

State Service for Consumer Market Control under Economic Development Ministry has bought 3 new labs worth EUR 200,000in the frame of TACIS program.
01 May 2007 [10:37]

SOFAZ's 2007 budget can be reconsidered

The 2007 budget of State Oil Fund of Azerbaijan (SOFAZ) is likely to be reconsidered because of financing Baku-Tbilisi-Kars railway project, said the Executive Director Shahmar Movsumov.
01 May 2007 [10:35]

Azeri banks' branches reach to 429 in number

As at April 1, 135 credit organizations have been registered in Azerbaijan. 91 of them are non-bank credit organizations, other 44 bank organizations.
01 May 2007 [10:34]

Azerbaijan to attend meeting of Eurochamber member organizations

Delegation headed by first vise-president of Azerbaijani Commerce and Industry Chamber Niyaz Alizadeh will attend the meeting of the presidents of Eurochamber members organizations.
01 May 2007 [10:33]

New gas well to be brought online in Guneshli Field

SOCAR's Bayil Port Sea Exploration Drilling Department has handed over well #74 to 28 MAY Oil and Gas extraction Unit.
01 May 2007 [09:59]

Azerbaijan prepares contest paperwork for Baku Intelligent Traffic Control System

Transport Ministry is working on the paperwork of the expected competition for installation of Baku Intelligent Traffic Control System.