25 April 2007 [08:38]

Azerbaijan and Iran to discuss North-South Transport Corridor

Baku will host the meeting of Azerbaijani and Iranian experts of railway administrations on North-South Transport Corridor in mid May.
25 April 2007 [08:38]

EraTrans Insurer to open four regional branches

Azerbaijan's EraTrans Insurance Company intends to establish local branches in the regions of Lenkeran, Yevlakh, Barda and Aghsu.
25 April 2007 [08:30]

World Bank mission on IDPs visits Baku

World Bank's mission on Internally Displaced Persons (IDPs) Economic Development Support Project visits Baku. This project aims to improve living conditions, enhance economic opportunities and prospects for social integration for IDPs.
24 April 2007 [16:57]

US keen in economic relations with Azerbaijan

"US is keen in cooperation with Azerbaijan, Kazakhstan, Turkmenistan, Iraq, which are transporting natural gas from the region via Turkey to Europe," US Embassy in Turkey stated in support to the ceremony of foundation laying of Samsun-Ceyhan pipeline.
24 April 2007 [16:26]

Korea-Azerbaijan business forum started in Seoul

Business forum is being held in Seoul with the participation of Azerbaijani and South Korean government officials and businessmen.
24 April 2007 [15:54]

Azerbaijan Investment Co., STX Corporation ink two memos in Seoul

Tuesday, Azerbaijan Investment Company and STX Corporation sealed two memorandums of understanding within the scope of a joint business forum in Seoul.
24 April 2007 [14:54]

Two road bridges to be commissioned in May

Two road bridges, one in the intersection of Darnagul Highway and Bunyadov Avenue and the second in the 3rd micro-district road circle, will be commissioned in Baku in May.
24 April 2007 [14:12]

Kazakhstan studying Caspian-Europe pipe to bypass Russia

Kazakhstan's government could join a proposed gas pipeline linking the energy-rich Caspian to Europe, bypassing Russia, if the project meets the country's economic interests, the premier said.
24 April 2007 [12:54]

WB to lend Azerbaijan $230mln in June

In June, the World Bank's Board of Executive Directors is likely to consider the National Water Supply and Sanitation Service Project in Azerbaijan.
24 April 2007 [12:14]

BTC throughput capacity to reach 1.6 million barrels a day

BTC Co. has been studying the prospects of expansion of the Baku-Tbilisi-Ceyhan daily throughput capacity to 1.2 million barrels from the current operating capacity of one million barrels a day.
24 April 2007 [09:22]

SOCAR starts to lay high-pressure gas pipeline

State Oil Company of Azerbaijan has started to lay a gas pipeline from Sangachal Terminal to Garadagh underground gas holder.
24 April 2007 [09:19]

Regional meetings held on privatization and management of state property

State Committee for Management of State Property holds regional meetings on proper organization of privatization and management of state property, improvement of the work of regional departments and controls on taken measures.
24 April 2007 [09:11]

Valeh Aleskerov to attend 3rd Europe-Russia Economic Forum

Valeh Aleskerov, vice-speaker of the parliament, chief of the standing commission on natural resources, energy and ecology has left for Austria to attend the third Europe-Russia Economic Forum.
24 April 2007 [08:55]

Aureos launches $100m fund for Kazakhstan, Azerbaijan

Emerging markets private equity fund manager Aureos Capital has launched a new $100m Central Asia Fund. The fund will focused primarily on Kazakhstan and Azerbaijan.
24 April 2007 [08:52]

Baku probes illegal connections to elevator power lines

Baku Electricity Network OSJC began to probe illegal connections to elevator power lines.
24 April 2007 [08:48]

Electricity supply to defaulters cut off in Baku

Baku Electricity Networks has begun to cut off electricity supply to defaulting customers since 12:00, April 23.
24 April 2007 [08:46]

Mortgage Fund lends 800 loans worth AZN 27.637mln

Azerbaijan Mortgage Fund has to date lent 800 mortgage loans worth AZN 27,637 million.
24 April 2007 [07:52]

Bank Standard lends 136 mortgage loans

Bank Standard has to date lent 136 mortgage loans worth AZN 4,369,812.
24 April 2007 [07:51]

Azerbaijan, Russia to continue discussing electricity imports

A delegation from Russia's RAO UES (Unified Energy Systems) will visit Azerbaijan on April 27 to continue the price-haggling discussion.
24 April 2007 [07:50]

Azerbaijan buys two locomotives from Russia

Azerbaijan State Railway Company (ADDY) has bought two locomotives from Russia with a soon delivery.
24 April 2007 [07:49]

Azerbaijan's biggest taxpayers beat Q1 predictions

With an exception of the State Oil Company of Azerbaijan (SOCAR), other nine biggest taxpayers transferred a total of AZN 52.3mln to the state budget with a surplus over the predictions (119%).
24 April 2007 [07:47]

Azerfon rolls out Nar Mobile World entertainment portal

Nar Mobile presented a new entertainment portal - Nar Mobile World to its subscribers. Besides making mobile communications colorful the Nar Mobile World portal offers to subscribers enjoying a number of interesting and useful services.
24 April 2007 [07:45]

Debutbank opens a new branch

Debutbank has opened a new branch in Baku.
24 April 2007 [07:43]

Samsun-Ceyhan oil pipeline to be completed in 3 years

With several large infrastructure projects in progress, such as the Black Sea coastline highway, the Marmaray metro project -- which will cross the Bosporus Strait -- the Baku-Tbilisi-Ceyhan oil pipeline, the Nabucco and many others, Turkey is rapidly checking off its to-do list of national projects.
24 April 2007 [07:41]

Amrahbank raises its assets 31% for Q1

As of April 1, the assets of Azerbaijan's Amrahbank reached AZN 33,291,860, up 31% from the same period last year.
24 April 2007 [07:38]

Azerbaijan's big taxpayers reach 692 in number

As of April 1, the Biggest Taxpayers Department of the Taxes Ministry has 692 taxpayers in the lineup, of which 280 are state-owned entities, 84 privately-owned, 278 foreign entities, 47 joint ventures and 3 international organization-owned ones. The department registered 439 VAT payers.
23 April 2007 [23:03]

Loans spent on Baku-Tbilisi-Ceyhan project to be repaid by 2015

The loans used for construction of the Baku-Tbilisi-Ceyhan pipeline project will be repaid during 2013-15.
23 April 2007 [23:00]

Azerbaijani fishing-boat detained in Kazakh waters

"Seymour" fishing–boat sailing under the flag of Azerbaijan was detained in Kazakhstan section of the Caspian Sea.
23 April 2007 [22:18]

IBA wins Best Emerging Market Banks by Global Finance

The International Bank of Azerbaijan had a good year in 2006. The bank has won the "Best Emerging Market Banks" named by Global Finance magazine in an exclusive survey.
23 April 2007 [21:35]

ABN Amro and Barclays agree on world's largest bank takeover

Barclays and ABN Amro have agreed terms for their multi-billion euro merger plans in a deal which values ABN Amro shares at ?36.25.
23 April 2007 [15:44]

Draft on amendments to 2007 state budget to be submitted to parliament

The president will submit the draft on amendments to the 2007 state budget of Azerbaijan to the parliament by May 15, Hadi Rajabli, chief of parliament’s socio-political standing commission said.
23 April 2007 [14:44]

Gas supply interruptions in Baku

Gas supply to Sabunchu, Narimanov, Nizami, Khatai and Binagadi districts of Baku was interrupted because of connection of newly constructed gas line to the net.
23 April 2007 [14:37]

South Korea, Azerbaijan agree to increase economic cooperation - UPDATED

The leaders of South Korea and Azerbaijan agreed Monday to increase economic ties between the two countries, part of Seoul's campaign to expand relations with oil-producing nations to feed its development.
23 April 2007 [13:14]

Azerbaijan to buy JF-17 multirole fighters from Pakistan

Azerbaijan Defense Minister Safar Abiyev and Defense Industry Minister Yavar Jamalov are scheduled to make an official visit to Pakistan.
23 April 2007 [09:22]

Greek, Turkish PMs to inaugurate new gas pipeline

The Turkish and Greek prime ministers will this summer inaugurate a new pipeline bringing natural gas from Azerbaijan and other Caucasus producers, the Greek development minister said on Saturday.
21 April 2007 [16:03]

Ceyhan residents wait for pipeline to transform city

The Baku-Tbilisi-Ceyhan oil pipeline, which carries Azeri oil to European markets through Turkey and is a key part of Turkey's plan to become a global energy hub, is transforming the port city of Ceyhan into a magnet for domestic and foreign investment.
21 April 2007 [16:01]

Kazakhstan to diversify pipeline routes

Kazakhstan is urging Moscow not to take offense at its decision to diversify shipments of oil, most of which flow through Russia.
21 April 2007 [15:32]

Culture and tourism departments to hold regional conference in Shamakhi

Regional conference devoted to the activity of culture and tourism departments will be held in Shamakhi on April 23.
21 April 2007 [15:21]

AzeriGas says raids are effective to collect gas bills

The collection rate for gas has been pushed up after AzeriGas cut off supply to defaulting customers. The villa owners have begun to pay off the bills.
21 April 2007 [15:19]

200,000 water meters to be installed in 2007

Azerbaijan water Company (Azersu) installed 141,477 water meters during 2006, of which 106,119 in Baku, 35,358 in other regions.
21 April 2007 [12:12]

ABTC to organize business-seminars on accounting

Business-seminars on accounting will be held in Azerbaijan Bank Training Center (ABTC) from April 25 to 27.
21 April 2007 [12:10]

VI Report stage on EITI in Azerbaijan starts

VI Report stage of implementation of Extractive Industry Transparency Initiatives (EITI) in Azerbaijan started since the meeting of Selecting Group composed of EITI Governmental Commission, local and foreign companies engaged in extractive industry, representatives Coalition "To Improve Transparency in Extractive Industry" held on 19, April, 2007.
21 April 2007 [12:07]

Kur LLC to open regional sale center in Sumgayit

Kur LLC will commission regional sale center in Sumgayit in a few days. The center will provide sale of computers, telephones and other products of the company.
21 April 2007 [12:04]

Azerbaijan can export drinking water to Central Asia

"Azerbaijan is able to export drinking water to neighbouring countries if applied," chair of Azerbaijan State Water Company (Azersu), Nizamaddin Rzayev told a press conference.
21 April 2007 [10:47]

WB introduces water supply and drainage systems rehabilitation blueprint to Azerbaijan

The World Bank has introduced the water supply and drainage systems rehabilitation draft project to the government of Azerbaijan for approval.
20 April 2007 [23:50]

Culture and Tourism Ministry to offer monuments

Culture and Tourism Ministry will propose to make monuments of satirists and musical instruments due to the executive order of the Head of State on monumental sculpture works, memorial and architecture complexes.
20 April 2007 [16:04]

Local businessman wins investment competition for OJSC Baku Taxil

A local individual has won investment competition for the shares of Baku Taxil Open Joint Stock Company.
20 April 2007 [12:58]

Turcas and SOCAR to build a petroleum refinery in Ceyhan

State Oil Company of Azerbaijan (SOCAR) and Turkey’s Turcas which agreed to set up a joint venture for oil exploration, refining and marketing submitted an offer to Energy Market Regulatory Authority (EPDK) to build a petroleum refinery in Ceyhan.
20 April 2007 [11:57]

Netty-2007 Azerbaijan National Internet Award sets nominees

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.
20 April 2007 [11:54]

Azerbaijan's posts 38.6% industrial growth in Q1

Industrial production grew 38.6%, year-on-year, during the first quarter to AZN 4.6 billion in Azerbaijan.
20 April 2007 [11:52]

Azeri delegation to attend 10th conference of Microfinance organizations

The representatives of Azerbaijani Microfinance Association (AMFA) will attend the 10th conference of Microfinance organizations in Sofia, Bulgaria, from May 29 to June 2.
20 April 2007 [11:50]

Azerigas and Azerenergy owe AZN100m to SOCAR

The debts of Azergas and Azerenergy to SOCAR have reached to AZN100m.
20 April 2007 [11:47]

Draft bill on Non-Bank Credit Organizations submitted to government

National Bank of Azerbaijan has submitted draft bill on Non-bank credit organization to government.
20 April 2007 [11:32]

Bank Standard ranks fastest developing bank in Azerbaijan

Russia's Kommersant newspaper published new version of ranking "CIS's 1000 banks" published in March.
20 April 2007 [11:30]

47 tankers carrying Azeri oil sail for world market, Q1

47 tankers took on board 5.549 million tonnes of Azeri Light crude oil at the Ceyhan Port in Turkey during the first quarter of 2007.
20 April 2007 [11:30]

Energy summit in Warsaw to be rescheduled

Energy summit expected to be held in Warsaw on May 11-12 will possibly rescheduled.
20 April 2007 [11:29]

ACG produces over 690,000 barrels of oil per day

The total daily production rate at Azeri-Chirag-Guneshli has beaten 690,000 barrels per day.
20 April 2007 [11:14]

Seoul to host Korea-Azerbaijan business forum

Seoul will host Azerbaijan-Korea business forum on April 24.
20 April 2007 [09:52]

S. Korean consortium aims to start oil exploration in Azerbaijan by September

A South Korean consortium led by the Korea National Oil Corporation (KNOC) is pushing to win the right to search for oil at Azerbaijan's Inam field by September, the Korean government said Friday.
20 April 2007 [08:56]

Baku hosts meeting of TAE project on Baku-Aktau Segment

Baku hosts the two-day meeting of Trans-Asia-Europe (TAE) international fiber-optic cable line projects on Baku-Aktau segment. TAE member states and leading operators of regional countries attend the meeting.
20 April 2007 [08:46]

National Teleradio Council checks "Day.Az Radio"

National Teleradio Council started checks with online "Day.Az Radio".
20 April 2007 [08:04]

Unsafe products withdrew from market

A great number of unsafe products were withdrawn from the sales in Azerbaijan, said Consumer Market Control Service.
19 April 2007 [22:25]

Black Sea states, neighbors plan joint projects

The countries sharing the shores of the Black Sea and a few neighboring states announced plans Thursday to bolster economic and other cooperation in their oil-rich region, including a construction of a "ring road" around the sea.
19 April 2007 [22:11]

Ernst&Young ends audit of Barmek

Ernst&Young company ended auditing in Barmek-Azerbaijan Electricity Distribution LLC.
19 April 2007 [21:52]

Trial on case of Barmek officials fixed to April 30

Preliminary court proceeding on case of president of Barmek-Azerbaijan Electricity Distribution LLC Huseyn Arabul and seven more company officials, who are accused of abuse of power, embezzlement and negligence of court judgements, continues.
19 April 2007 [21:37]

Poti-Odessa and Poti-Istanbul subsea cables to be laid

It is slated to lay Poti (Georgia)-Odessa (Ukraine) and Poti (Georgia)-Istanbul (Turkey) cables in the short run.
19 April 2007 [21:34]

BTC Co shareholders stop pumping oil via Baku Novorossiysk and Baku-Batumi routes

The shareholders of Azerbaijan International Operating Company (AIOC), which have a stake in BTC Co, have reoriented all the oil coming from Azeri-Chirag-Guneshli through Baku-Tbilisi-Ceyhan pipeline. All theses companies have stopped exporting oil via Baku Novorossiysk and Baku-Batumi routes.
19 April 2007 [21:27]

BTC Co shareholders stop pumping oil via Baku Novorossiysk and Baku-Batumi routes

The shareholders of Azerbaijan International Operating Company (AIOC), which have a stake in BTC Co, have reoriented all the oil coming from Azeri-Chirag-Guneshli through Baku-Tbilisi-Ceyhan pipeline.
19 April 2007 [14:23]

Turkey to host meeting of Black Sea Economic Cooperation (BSEC) heads of government

The meeting of the heads of government of the Black Sea Economic Cooperation (BSEC) member countries is to be held in Turkey on June 25, BSEC deputy general-secretary Andrei Urnov told.
19 April 2007 [14:09]

Azerbaijan medicine market witnessed 25 percent price rise

Price rise of recent months in Azerbaijan impacted country's medicine market.
19 April 2007 [09:00]

Baku-Tbilisi-Kars continues on schedule

"The documentation of Baku-Tbilisi-Akhalkalak-Kars railway project is to be completed," Azerbaijan's Transport Minister Ziya Mammadov told the journalists.
19 April 2007 [08:58]

SOCAR to prevent construction of houses near oil wells

State Oil Company of Azerbaijan (SOCAR) will take complex measures to prevent construction of houses near oil wells.
19 April 2007 [08:57]

Azeri reps attends spring session of American Bar Association

Chief of Antimonopoly State Service Samir Dadashov and official for analytic-information sector of the service Elshad Mammadov attend the 55th spring session of American Bar Association in Washington.
19 April 2007 [08:56]

Baku-Supsa oil pipeline to be commissioned this year

Baku-Supsa oil pipeline will be commissioned by the end of this year.
19 April 2007 [08:55]

SOCAR and DAAD sign joint scholarship program

State Oil Company of Azerbaijan (SOCAR) and German Academic Exchange Service (DAAD) signed joint scholarship program.