Business

21 December 2006 [10:47]

Azerbaijan to apply personal income declaration system next year

The issue on personal income declaration system is under discussion at the level of the Cabinet.
20 December 2006 [22:26]

Japan to allocate grant on construction high-speed railways in Azerbaijan

Japanese Government will allocate some $200 000 grant to Azerbaijani Government to arrange technical-economic basis for project on building high-speed railways in Azerbaijan.
20 December 2006 [22:13]

Trades at BICEX, Dec. 20

The weighted average exchange prices made up 0.8718 AZN for 1 US dollar in the Baku Interbank Currency Exchange on December 20.
20 December 2006 [20:41]

World Bank, Korea to assist Azerbaijan in creating e-government

The World Bank and Korea will pledge $30m to assist Azerbaijan in creating electronic government (e-gov), said Azerbaijan Minister of Communication and Information Technologies Ali Abbasov.
20 December 2006 [20:26]

Huseyn Arabul: "Government won't pay debt to Barmek"

"Economic Development Ministry tries to delay the conclusion of the final agreement with Barmek as long as possible. We have already requested the Ministry to hurry," said Barmek-Azerbaijan President Huseyn Arabul.
20 December 2006 [15:08]

Intigam Huseynov: "Trade between Azerbaijan and Russia is rapidly growing"

Trade between Azerbaijan and Russia is rapidly growing, Chairman of the Azerbaijan-Russia Business Cooperation Chamber, Intiqam Huseynov, told AzerTAg reporter.
20 December 2006 [15:06]

2nd forum of Islamic businesswomen ends in Kuala Lumpur

The second forum of businesswomen of Islamic countries was held in the Malaysian capital, Kuala Lumpur. The event gathered about 80 businesswomen from 44 countries worldwide.
20 December 2006 [15:04]

Delegation of Auditor Chamber visited France

On December1 2-16, the delegation led by chairman of Auditor Chamber of Azerbaijan Vahid Novruzov has been with a working visit in Paris.
20 December 2006 [14:53]

Armenia bans Turkish foodstuffs imports

Foodstuffs imported into Armenia should be subjected to obligatory marking in Armenia, head of the Standardization and Compliance of the Trade and Economic Development Ministry Robert Dayan announced at a news conference on December 21.
20 December 2006 [13:51]

Georgian PM says Azerbaijan to become Georgia's major gas supplier

Azerbaijan will become Georgia's major gas supplier in 2007, Georgian Prime Minister Zurab Nogaideli told the government session on December 20.
20 December 2006 [13:21]

President Aliyev decrees on establishing Commission on Export Control

Azerbaijani president Ilham Aliyev decreed on establishing Commission on Export Control.
20 December 2006 [11:22]

Azerbaijan&China to invest $12m in Sumgait Glass Manufacturing Plant

Azerbaijan and China will invest USD 12 million in creation of a joint venture in Sumgait Glass Manufacturing Plant, Industry and Energy Minister Natig Aliyev said.
20 December 2006 [11:14]

City buses raising fares illegally to be punished

The license of the buses in Baku which increase the fare illegally will be revoked, Tariff Council chairman Heydar Babayev said.
20 December 2006 [11:13]

Azerigas to cut off gas supply to regions in debt

Azerigas has warned regions that it would cut off natural gas supply, from Dec. 25, to the regions where collection of gas bills is under 60%.
20 December 2006 [11:12]

Azercell concludes three roaming agreements

Azerbaijan's leading cellular provider Azercell Telecom concluded three international roaming agreements with Brasilia's Amazonia Celular, Croatia's Vipnet Croatia and Spain's Vodafone.
20 December 2006 [11:11]

Azerbaijan and Turkey to raise trade turnover to $2 billion

Azerbaijan and Turkey plans to raise the trade turnover to $1 billion by this year's end and double to $2bn in 2007, Azerbaijan-Turkish Business Council chairman Chingiz Gul said.
20 December 2006 [11:10]

Lift systems to be reconstructed in Ganja

New lifts are being constructed in Ganja. People can use them after the reference of a special commission.
20 December 2006 [11:10]

Sheki Regional Energy LLC installs 43 072 electric meters

Kurdemir Energy Supply LLC has to date installed 43 072 electric meters.
20 December 2006 [11:09]

Turan Morali: "Turkey wants to import Azeri energy supplies"

New procedures have been developed for payment of the debt by Nakhchivan AR for the electricity imported from Turkey during 1990s, Turkish ambassador to Azerbaijan Turan Morali said.
20 December 2006 [10:59]

Ceyhun Nagiyev chosen President of Azerbaijan Leasing Companies Association

Director General of AzeriLeasing, Ceyhun Nagiyev, has been chosen President of Association of Azerbaijan Leasing Companies.
20 December 2006 [00:17]

Georgia's pipeline repair delay may leave Armenia without gas

Armenia's underground gas storage facilities may be empty this winter if Georgia fails to restore its pipeline pumping Russian gas on time, an official spokesman for Russian energy giant Gazprom said Tuesday.
20 December 2006 [00:06]

Trades at BICEX, Dec. 19

The weighted average exchange prices made up 0.8718 AZN for 1 US dollar in the Baku Interbank Currency Exchange on December 19.
20 December 2006 [00:02]

Iran-Azerbaijan trade agreement implemented

A trade agreement between Iran and Azerbaijan approved by the Parliament and Guardians Council earlier was communicated to the governmental bodies by the president on Tuesday.
19 December 2006 [23:46]

Georgia, Azerbaijan, Turkey failed to reach a compromise

Azerbaijani Energy Minister Natig Aliyev said that representatives of Georgia, Azerbaijan and Turkey failed to reach an agreement over redistribution of Turkey's share of Azeri gas transported via Baku-Tbilisi-Erzerum pipeline.
19 December 2006 [23:43]

Enterprises to be removed from Heydar Aliyev Avenue

All industrial enterprises in Heydar Aliyev Avenue, Baku will be removed to the suburban areas.
19 December 2006 [23:42]

Finance Ministry makes new appointments

Finance Ministry has appointed new chairs to the newly established departments.
19 December 2006 [23:36]

Tarhan Tower Airlines performs direct flights to Armenia

Turkish Tarhan Tower Airlines performs direct flights to Armenia. Direct flights to Yerevan have been realizing four times a week at night since May.
19 December 2006 [15:48]

Viktor Yanukovych: "Ukraine is interested in strengthening cooperation with Azerbaijan"

Ukraine is interested in strengthening cooperation with Azerbaijan, in trade-economic and energy spheres, in particular. Viktor Yanukovych stressed during the meeting with Ambassador Extraordinary and Plenipotentiary of the Republic of Azerbaijan to Ukraine Talyat Aliyev.
19 December 2006 [15:46]

AZAL to purchase 2 Boeing aircrafts

Azerbaijan Air Lines holds negotiations with Boeing leadership to purchase new planes next year.
19 December 2006 [15:20]

Azerbaijan says Russia's new gas price proposal disadvantageous

A new price for natural gas proposed by Russia is disadvantageous for Azerbaijan, the country's industry and energy minister said Tuesday.
19 December 2006 [15:04]

Baku hosts Turkish-Azerbaijan Business Council meeting

Today, within the visit of Turkish Industry and Trade Minister Ali Coskun to Azerbaijan, a meeting of Turkish-Azerbaijan Business Council was held by Azerbaijani Economic Development Ministry and Turkish Council for Foreign Economic Cooperation.
19 December 2006 [11:46]

AIOC increases oil exports by 82% in Jan-Nov

Azerbaijan International Operating Company (AIOC) increased oil exports by 82.43%, year-over-year, to 18 726 000 metric tons during the period of January-November.
19 December 2006 [11:25]

Azerbaijan Investment Co to acquire 20% stake of Milk-Pro LLC

Azerbaijan Investment Company has concluded memo of understanding with Milk-Pro LLC which produces dairy products and juice.
19 December 2006 [11:23]

Iran gas to Armenia

Iran will start shipping gas through a pipeline to Armenia in January, the Tehran Times reported Sunday, citing an Iranian official.
19 December 2006 [11:22]

UK NAO to audit Azerbaijan Accounting Chamber

The UK National Audit Office will audit Azerbaijan Accounting Chamber (AAC) next year.
19 December 2006 [11:05]

Azeri Accounting Chamber to cooperate with Korean, Latvian and Chinese audit organs

Azerbaijan Accounting Chamber intends to conclude an agreement of cooperation with South Korean, Latvian and Chinese Supreme Audit Offices.
19 December 2006 [11:04]

Inauguration of two road bridges in Baku rescheduled for weekend

2 out of 9 road bridge projects is expected to be commissioned in Baku on weekend.
19 December 2006 [11:03]

Turkish Industry and Trade Minister meets Azeri officials

A delegation led by Turkish Industry and Trade Minister Ali Coskun visiting Baku has been received by Azerbaijani Industry and Energy Minister Natig Aliyev.
19 December 2006 [11:02]

Stocks of some 180 shareholders sold in Azerbaijan in Jan-Nov

State Committee for Management of Public Property held 50 auctions and the stocks of some 180 shareholders were sold during the period of January-November.
19 December 2006 [11:02]

Standard Insurance collects 26% more insurance fees

Standard Insurance collected insurance fees of AZN 6.514m during the period of January-September.
19 December 2006 [11:01]

Moscow to host Russian-Azerbaijani-Turkish business forum

Moscow will host a trilateral forum of Russian, Azerbaijani and Turkish businesspeople in March-April, 2007, Azerbaijan and Russia Business Cooperation Chamber chairman Intigam Huseynov said.
19 December 2006 [10:55]

491m cu m of gas delivered to Azerigaz in November

During November 491.18m cubic meters of natural gas were delivered to Azerigaz against the planned 623m cu m by implementing the forecast by 78.8 percent.
19 December 2006 [00:39]

OECD urges Armenia to crack down on bribery

The Organization for Economic Cooperation and Development urged Armenia to crack down on a "tradition of bribe-giving" in a report on Monday which passed severe judgment on the handling of corruption.
19 December 2006 [00:26]

Trades at BICEX, Dec. 18

The weighted average exchange prices made up 0.8718 AZN for 1 US dollar in the Baku Interbank Currency Exchange on December 18.
19 December 2006 [00:23]

Vice-Premier receives Russian delegation

Vice-Premier Yagub Eyyubov received the parliament delegation headed by vice-chairperson of the RF Federal Council Svetlana Orlova, December 18.
19 December 2006 [00:20]

President Aliyev receives Turkish Industry and Trade Minister

President of Azerbaijan Ilham Aliyev received Ali Coskun, the Industry and Trade Minister of Turkey, December 18.
18 December 2006 [23:31]

Officials: No deal yet in Georgia-Turkey-Azerbaijan talks on Caspian gas quotas

Negotiators from Georgia, Turkey and Azerbaijan were still wrangling over how to divide quotas for gas extracted from a massive Caspian Sea field, Azerbaijan's energy minister said Monday.
18 December 2006 [17:08]

CIBank renamed to Azerbaijan Industry Bank

The Capital Investment Bank (CIBank) has been renamed as Azerbaijani Industry Bank.
18 December 2006 [14:09]

Greek minister: Part of Greece-Turkey gas pipeline to operate in 2007

Greek Development Minister Dimitris Sioufas said that, Greek section of a natural gas pipeline to Turkey is due to begin operating in May 2007.
18 December 2006 [13:54]

Azerbaijan and Russia want to agree on electricity deal in December

By December 20 Azerbaijani and Russian energy officials plan to agreement on energy imports to Azerbaijan from 2007, said Azerenergy Vice-President Marlen Asgarov.
18 December 2006 [13:36]

Gas removal begins at Shah Deniz

Workers on Saturday began extracting natural gas from Azerbaijan's massive Shah Deniz field operated by British Petroleum PLC, state energy officials said.
18 December 2006 [13:35]

ICT Ministry develops Telecommunications Policy Plan

Communications and Information technologies Ministry has developed Telecommunications Policy Plan for implementation of the State Program for ICT Technologies in Azerbaijan (e-Azerbaijan).
18 December 2006 [13:20]

Jordan Trade Chamber Senator, Azeri Ambassador confirm importance of promoting economic ties

Chairman of Jordan Trade Chamber Senator Hider Murad discussed on Sunday with Ambassador of Azerbaijan Elman Arasli means of following up the outcomes of Premier's visit to Azerbaijan last month.
18 December 2006 [11:16]

Nominal income grows 22.5% in Azerbaijan

During the period of January-September the incomes of Azerbaijani population brew by 22.5%, year-over-year, to AZN 9.2bn at face value, State Statistical Committee told.
16 December 2006 [13:05]

Turkish Industry and Trade Minister to visit Baku

The delegation of Turkish businessmen led by Minister of Industry, Ali Coskun, will visit Baku December 18-20, Turkey's Embassy in Baku informs.
16 December 2006 [12:24]

AIOC increases oil output by 79%

Azerbaijan International Operating Company increased oil output by 79%, year-over-year, to 20,961m metric tons in Azeri-Chirag-Guneshli field during the period of January-November.
16 December 2006 [12:21]

Glencore Energy UK Ltd to export Azeri Light crude oil

Glencore Energy UK Ltd. has won the bidding announced by SOCAR Marketing and Economic Operations Department.
16 December 2006 [12:09]

Baku hosts Azerbaijani and Russian energy officials

Azerenergy and RAO EES (Unified Energy Systems) have met in Baku to discuss the issue concerning energy supplies to Azerbaijan, Azerenergy Vice-President Marlen Asgarov said.
16 December 2006 [11:41]

BP-Azerbaijan announces 5th Biodiversity Competition Award

BP-Azerbaijan has announced the 5th Biodiversity Competition award in Azerbaijan in the theme of Biodiversity in Azerbaijan.
15 December 2006 [23:00]

Azeri Parliament passes rate of excise duties for imported cars

Azeri Taxes Minister Fazil Mammadov said the rules for excise duties are based on the engine capacity. The duty per cu cm will be AZN 0.15 for cars with engine of up-to 2,000 cu cm.
15 December 2006 [22:51]

Information about explosive in Bank Respublika false

There was a phone call to the main office of Bank Respublika warning of explosive planted there, Chingiz Bagirov, Sebayel district Police Office Department chief told.
15 December 2006 [16:37]

Warning of explosive planted in Bank Respublika

There was a phone call to the main office of Bank Respublika warning of explosive planted there, Chingiz Bagirov, Sebayel district Police Office Department chief stated.
15 December 2006 [13:23]

OPEC to trim down output from February

OPEC ministers agreed in principle Thursday to leave oil production unchanged for now but set the stage for a likely cut of half a million barrels day in February.
15 December 2006 [13:07]

Azercell to make investments of $130m next year

Azercell doesn't intend to change its operation strategy after the government's stake in the company is privatized.
15 December 2006 [11:48]

Deals at BICEX, Dec. 14

The weighted average exchange price made up 0.8720 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange.
15 December 2006 [11:38]

Georgia to be charged about $170 per 1,000 cu m of gas

Next year Georgia will pay on average USD 170 per 1,000 cubic meters of natural gas imports, independent expert Giya Khukhashvili told.
15 December 2006 [00:37]

Azercell not to shift price policy next year

Azerbaijan's leading mobile operator Azercell Telecom JV prefers to provide high-quality services to its customers, Azercell Director General Halim Atesh said.
14 December 2006 [22:04]

Turkey, Israel OK energy corridor

Turkey and Israel have agreed to set up an energy corridor that will carry to Israel oil from Baku, Azerbaijan, via Ceyhan, Turkey.
14 December 2006 [17:40]

Georgia reduced debts to Azerbaijan by 12.5%

As of December 1, Georgia amortized its government debts owed to Azerbaijan to USD 14.553m, by reducing the debt by 12.46% or $2.071m in November.
14 December 2006 [17:12]

Azerbaijan, Georgia, Turkey discuss Caspian gas quota

Experts from Azerbaijan, Georgia and Turkey are meeting in Baku Thursday to discuss the technical and financial aspects of distributing Turkey's quota of natural gas between the three nations.
14 December 2006 [11:56]

Taxes Ministry finds irregularities in 36 911 trade facilities

Taxes Ministry Operational Control Department have to date examined 157 061 various kinds of trade facilities and found serious irregularities in 36 911 of them.
14 December 2006 [11:45]

Deals at BICEX, Dec. 13

The weighted average exchange price made up 0.8721 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange.
14 December 2006 [11:15]

Tax privilege expected in mortgage lending in Azerbaijan

Mortgagors can be partially exempted from some taxes in Azerbaijan.
14 December 2006 [10:54]

Module power station to be commissioned in Nakhchivan

Construction of 87 MW module power plant has continued to progress during the period of May-December.
14 December 2006 [10:51]

Baku probes companies producing harmful goods

Azerbaijan State Agency for Standardization, Metrology and Patents has sent the facts on companies producing products harmful to health to the law enforcement structures.