Business

01 November 2006 [09:53]

Garib Mammadov: "Municipalities and executive powers not interested in selling lands through auctions"

Workshop examining problems of local authorities has been organized by Real Estate Registration Service, State Land and Cartography Committee and Justice Ministry department on work with local authorities.
01 November 2006 [03:14]

Russia's Gazprom to buy Iran-Armenia gas pipeline

New details emerged on Tuesday of the latest Russian-Armenia energy deal that will give Russia's state-run Gazprom monopoly a commanding share in Armenia's natural gas distribution network and, most probably, the incoming gas pipeline from Iran.
01 November 2006 [00:39]

Microsoft to unveil Azeri version of Windows Vista OS by mid-2007

Microsoft will unveil an Azeri language version of Microsoft Windows Vista OS by the summer of 2007, Islam Akhmedov, general director of Sinam Ltd., Microsoft's official partner in Azerbaijan, said at a Monday presentation.
01 November 2006 [00:37]

Azerbaijan Oil Fund, BONY sign depositary agreement

The State Oil Fund of Azerbaijan has signed an agreement with the Bank of New York for depositary services, the Oil Fund said in an official statement.
31 October 2006 [21:37]

Tehran-Baku first joint transport management session held

Senior Iranian and Azeri transportation managers held their first joint meeting in Astara on Monday night.
31 October 2006 [20:53]

Trades at BICEX

The weighted average exchange prices made up 0.8722 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 31.
31 October 2006 [20:41]

Discrepancy between Canada's "First Dynasty Mines" company and Armenian Government

There is a discrepancy between Armenian Government and "First Dynasty Mines" (FDM) Company of Canada extracting gold in Soyudlu gold deposit in Kalbajar, the occupied Azerbaijan region.
31 October 2006 [20:39]

Barmek demands AZN 291m payment of damages from Azeri Government

Barmek-Azerbaijan will demand damages of AZN 291m from the Government of Azerbaijan in International Center for Settlement of the Investment Disputes (ICSID).
31 October 2006 [20:14]

Next talks between Azerbaijan and Venice Commission to be held on November 9-10

The problem concerning Azerbaijan was discussed at the last plenary session of Venice Commission.
31 October 2006 [10:35]

Nakhchivan Module Plant construction continues

Nakhchivan Module Plant construction has continued to progress.
31 October 2006 [10:34]

Taxes Ministry cancels VAT registration of 4 890 taxpayers

As of October 30, Taxes Ministry has deregistered 4 890 taxpayers for VAT.
31 October 2006 [10:32]

Favorable balance of trade makes 1.069m in Azerbaijan in Jan-Sept

As of October 1, favorable balance reached $1 068 804 600 in exports and imports of Azerbaijan during the period of January-September. Residents and nonresidents carried out trade operations of $8 626.126m with 134 countries during this period.
31 October 2006 [10:26]

Israel's Tadiran Communications wins $42m military order from Azerbaijan

The order is the final part of an earlier $55 million order for the supply of tactical communications equipment.
31 October 2006 [10:26]

World Bank mission to visit Azerbaijan

World Bank mission for water supply and drainage project will pay a visit to Azerbaijan from November 13 to 18.
31 October 2006 [10:24]

Trades at BICEX

The weighted average exchange prices made up 0,8723 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 30.
31 October 2006 [10:22]

Some technical failures expected in Azercell's SMS service

Some technical failures are expected to appear in SMS service of Azercell Telecom between November 1 and 3.
31 October 2006 [10:22]

Phase 3 facilities at STEP expected to be completed by end of 2007

The Sangachal Terminal Expansion Programme (STEP) - The ACG Phase 3 is the next important phase of construction at STEP.
31 October 2006 [10:21]

Cargo transit falls in Azerbaijan

The volume of goods in transit transported through Azerbaijan fell by 1.2174m tonnes year-on-year, in January-September, to 18.7461 tonnes.
31 October 2006 [10:20]

Ganja Automobile Plant begins to sell autos

Starting from this week, Ganja Automobile Plant is going to sell automobiles assembled in Chinese technology.
31 October 2006 [10:13]

Huseyn Arabul: "Energy supply problems inevitable in winter"

Barmek is dissatisfied with the Economic development Ministry's lack of interest in completion of the hand-over test.
31 October 2006 [10:12]

JBIC delegation meets Industry and Energy Ministry

Japan Bank for International Cooperation officers Kenichiro Khayashi and Yoshikhiro Kumagai were received at Industry and Energy Ministry of Azerbaijan.
31 October 2006 [10:11]

World Bank's Khristos Kostopulos visits Azerbaijan

World Bank's leading economist Khristos Kostopulos is visiting Azerbaijan.
31 October 2006 [10:10]

Azercell concludes roaming agreements with 10 more operators

Azercell Telecom has concluded roaming agreements with 10 more cellular operators.
31 October 2006 [10:09]

AtaBank attends exhibition in Moscow

AtaHolding OJSC attended exhibition "15 years of CIS: Cooperation and Integration" held in Moscow, October 25-28.
31 October 2006 [10:08]

Trial of Barmek officials to start soon

The investigation of the criminal case on Barmek Ltd. officials is about to be completed. The trial is expected to start soon.
31 October 2006 [10:03]

Azerbaijan Architecture and Construction University hosts workshop on State's role in insurance of goods

A workshop examining State's role in insurance of agricultural goods was held at Azerbaijan Architecture and Construction University.
31 October 2006 [09:58]

Rustam Usubov: "Financial intelligence organization at Prosecutor's Office expedient"

"Financial intelligence organizations are set up in four models: at police offices, courts and prosecutor’s offices, National Bank or Finance Ministry or in hybrid form," Rustam Usubov, the first deputy prosecutor general told journalists.
30 October 2006 [22:49]

ICSID to consider Barmek and Azpetrol arbitration claims against Government

Washington-based International Center for Settlement of Investment Disputes made decision October 18 to consider the arbitration claim filed by Barmek-Azerbaijan against the Government of Azerbaijan.
30 October 2006 [16:15]

Financial intelligence organization to be established in Azerbaijan

A seminar "Legal framework of fighting the laundry of dirty money, contribution to terrorism and other financial crimes" organized by the US embassy in Azerbaijan and Council of Europe began in Baku.
30 October 2006 [14:04]

Huseyn Bagirov: "CITES's ban on sturgeon and black caviar export has political aim and no loss for Azerbaijan"

"The place where the Volga joins the Caspian constitutes 75-80% of the Sea pollution"
30 October 2006 [13:52]

Russia ready to control railways of Armenia

The talks of Russia's President Vladimir Putin and his Armenia's counterpart Robert Kocharian begin in Moscow today, October 30, 2006.
30 October 2006 [00:02]

Matthew Bryza: "Europe needed to work more with Azerbaijan, if its dependency on Russian gas were not to soar"

Germany's big gas pipeline deal with Russia has been criticised by a US official, in a sign of Washington's mounting unease about Berlin's ties with Moscow.
29 October 2006 [18:50]

BTC spent $834 million in Jan-Sept 2006

During the first three quarters of the year Baku-Tbilisi-Ceyhan oil pipeline spent $834 million (including the costs of line-fill and financing) in capital expenditure, press service of the BP Azerbaijan said.
29 October 2006 [13:44]

Turkey to host BSEC summit next year

The Black Sea Economic Cooperation (BSEC) will celebrate its 15th anniversary in Istanbul as Turkey will host a BSEC summit of heads of state and government in June 2007, said Ambassador Murat Sungar, first deputy secretary-general of the Istanbul-based organization.
28 October 2006 [15:12]

Communications Minister hold broad meeting in Ali Bayramli

Communications and Information Technologies Minister Ali Abbasov has today visited regions of Sabirabad and Ali Bayramli.
28 October 2006 [12:23]

Oracle to cunduct seminar on IT

Oracle Corporation, world's leader in business-to-business software and services, including Internet-enabled databases, tools, and application products will conduct a technical seminar November 8 in Baku.
28 October 2006 [11:33]

The 5th Republic conference held

The 5th Republic Conference was held about the improvement of internal tourism.
28 October 2006 [11:28]

Collection of gas bills from population reaches 48.9% in Jan-Sep

SOCAR delivered 4.303bn cu m of gas to Azerigas CJSC during the period of January-September. 3.309bn cu m of gas were imported from Russia in this period.
28 October 2006 [10:39]

Taxes Ministry finds irregularities in 30 934 trade facilities

Taxes Ministry Operational Control Department have to date examined 132 456 various kinds of trade facilities and found serious irregularities in 30 934 of them.
28 October 2006 [10:36]

International Insurance Co. opens new service department in Baku

International Insurance LLC has today commissioned a customer service department at 17 Najaf Rafiyev Street, Khatai District, Baku.
27 October 2006 [21:05]

Azercell signs new roaming agreement

Azerbaijan's largest mobile company Azercell Telecom has signed new roaming agreement with Polish "Centertel" operator, press service of Azercell said.
27 October 2006 [21:04]

Trades at BICEX

The weighted average exchange prices made up 0,8725 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 27.
27 October 2006 [20:54]

Azerbaijan, Georgia: trade turnover increases

Chairman of the State Customs Committee Aydin Aliyev met with the minister of economic development of Georgia Irakly Chogovadze.
27 October 2006 [20:18]

US government renders assistance to Azerbaijan to restore roads

CHF International guaranteed realization of projects on road's restoration in Gasanli village of Masalla area and restoration of school in Guneshli village of Jalilabad area in frames of Community Activities Development Program, realized by the USAID in Azerbaijan; it was informed at the US Embassy in Azerbaijan.
27 October 2006 [20:01]

Gas price to be increased

Price of the natural gas provided for customers will be discussed next year, Azerigas CJSC chairman Alikhan Malikov said.
27 October 2006 [19:42]

Credit unions to be allowed to receive deposits

Azerbaijan's credit unions will keep deposits of population if the Government approves of proposals submitted by the Azerbaijan Credit Union Association, ACUA management board chair Elchin Baghirov said.
27 October 2006 [19:40]

Baku Port to be removed to Alat

Aydin Bashirov, the Chief of the Azerbaijan Caspian Shipping Company (ACSC), gave a press conference on activities and future of the Company.
27 October 2006 [19:31]

Antimonopoly Department probes into cement price rise

Economic Development Ministry's Antimonopoly Policy Department has begun to probe into the grounds for the rise of the price of cement in the retail market.
27 October 2006 [19:25]

Bread price doubles in Salyan

The prices of bread in Salyan rose from 10-15 kopecks to 20 kopecks.
27 October 2006 [12:32]

Taxes Ministry implements forecast by 91.4% in Sep

During September Taxes Ministry delivered AZN 184 624 100 to the State Budget. This figure is implementation of the forecast by 91.4 percent.
27 October 2006 [12:31]

Taxes Ministry finds irregularities in 30 728 trade facilities

Taxes Ministry Operational Control Department have to date examined 131 630 various kinds of trade facilities and found serious irregularities in 30 728 of them.
27 October 2006 [12:16]

Roundtable on investment legislation of Azerbaijan held in Baku

Roundtable examining investment legislation of Azerbaijan took place in Baku yesterday.
27 October 2006 [10:43]

Ukrainian-Azerbaijan business forum to take place

Ukrainian-Azerbaijan business forum will be held in Kiev by Azerbaijan National Confederation of Entrepreneurs (ACE).
27 October 2006 [10:42]

Baku to Azeri-Pakistani investment forum

Baku will host Azerbaijani-Pakistani investment forum on November 9.
27 October 2006 [10:22]

Each Russian Azerbaijani sends $150 to their family a month

Each Azerbaijani living in Russia sends $150 on average to their family in Azerbaijan a month, State Statistical Committee chairman Arif Valiyev said.
26 October 2006 [20:29]

Azerbaijan mulls buying Iranian gas

Azerbaijan said it is considering buying gas from Iran amid continued discussions with Russia over the price and volume of gas.
26 October 2006 [19:44]

Trades at BICEX

The weighted average exchange prices made up 0.8719 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 26.
26 October 2006 [19:32]

President Aliyev meets EBRD delegation

On October 26, President of Azerbaijan Ilham Aliyev welcomed at the Presidential Palace the delegation of the European Bank of Reconstruction and Development (EBRD).
26 October 2006 [19:09]

SOCAR may explore Caspian gas field in 2007

Azeri state oil firm SOCAR may start exploratory drilling of prospective natural gas structures at the Babek-Umid block in the Caspian Sea in the spring of next year, a senior company official said on Thursday.
26 October 2006 [14:43]

SSC chairman pleased with the tendency in crediting

State Statistical Committee chairman Arif Valiyev gave a press conference on macroeconomic indicators of socioeconomic development of Azerbaijan during the period of January-September.
26 October 2006 [13:07]

Inflation rate to hit 8.5%

Market price has risen by 73% this year. Price of foodstuffs has risen by 10.3% other products 4.8%.
26 October 2006 [12:35]

New GSM operator Azerfon: "We will be energetic and aggressive in market"

Azerfon LLC, the third GSM operator in Azerbaijan, will start up in late this year and early next year.
26 October 2006 [10:46]

Garadagh Cement: "Cement price rises as a result of high demands"

In Azerbaijan the rise of cement price was caused by high demand in the domestic market, reduction of the cement production because of shortage of raw, decrease of imports, Garadagh Cement informs.
26 October 2006 [10:45]

EBRD to expand $1m-loan to CredAgro

The EBRD is expanding its support for microfinance in Azerbaijan and extending a $1 million loan to the local microfinance institution CredAgro. $250.000 of the $1 million is being funded by TaiwanICDF.
26 October 2006 [10:43]

AtaBank issues long-term plastic cards

AtaBank Commercial Bank offers new plastic cards to customers. The bank informs that these cards ca be used for long time.
26 October 2006 [09:58]

Azerbaijan to import up to 2bn cu m of gas from Iran in 2007

Azerbaijan has not yet set the volume and price of gas imports for 2007, Industry and Energy Minister Natig Aliyev told reporters.
26 October 2006 [09:53]

Taxes Ministry finds irregularities in 30 543 trade facilities

Taxes Ministry Operational Control Department have to date examined 130 835 various kinds of trade facilities and found serious irregularities in 30 543 of them.
26 October 2006 [09:25]

Caspian Oil&Gas Field-2006 conference starts in Baku

Caspian Oil&Gas Field-2006 conference has started in Baku yesterday. The two-day conference is supported by Industry and Energy Ministry, SOCAR, International East Oil Academy, Oil and Gas Geotechnical Problems Scientific Research Institute.
26 October 2006 [00:59]

Turkey opts for F-35 over Typhoon

Turkey's Air Force has selected the F-35 Lightning II, over Europe's Eurofighter Typhoon for the NATO nation's 15-year, $10 billion program to buy about 100 new-generation fighter aircraft, Turkish procurement and military officials said.
26 October 2006 [00:58]

BP raises Azeri oil estimate

BP raised by 20 percent its estimate of proven oil reserves in three offshore fields in the Azeri sector of the Caspian Sea, which the British company is developing with partners.
25 October 2006 [22:49]

Azeri companies attend int'l exhibition in France

About 10 Azerbaijani companies attend the International Food Industry Exhibition "SIAL-2006" in Paris, from 22 to 26 October.
25 October 2006 [20:20]

Trades at BICEX

The weighted average exchange prices made up 0.8722 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 25.
25 October 2006 [20:11]

Armenian official: "Kars-Akhalkalak-Tbilisi-Baku fruitless for region"

Construction of Kars-Akhalkalak-Tbilisi-Baku railway line is aimed at restrictive policy and is economically inefficient.
25 October 2006 [19:33]

AMF's crediting rate may be cut by twice

The annual crediting rate of Azerbaijan Mortgage Fund can be reduced to 3-4% from 6%, AMF executive director Faig Mammadov said.