Business

07 April 2007 [11:11]

Three more bakeries closed in Baku

State Agency for Standardization, Metrology and Patents has closed three more bakeries in Baku.
07 April 2007 [11:10]

Baku to host US-Azerbaijan seminar on production of construction materials

The US and Azerbaijani governments will organize seminar on production of construction materials of earthquake-proof and less energy intensity.
07 April 2007 [11:04]

Sangachal 300MWe power plant construction to start in May

Construction of the 300MWe multi-fuelled power plant will start in May, Azerenergy Vice-President Marlen Asgarov told.
07 April 2007 [11:02]

FORS Development Center and MBASK Insurer sign contract

Russian FORS Development Center LLC and Azerbaijani MBASK Insurance Company have concluded contract on exportation and implementation of INSIS solution (FADATA Insurance package) on the basis of Oracle technologies. The contract costs $500 000.
06 April 2007 [22:59]

Airbus airplanes will be brought to Azerbaijan from 2010

Azerbaijan's air park will be renewed, proper agreements have already been concluded for buying Airbus and ATR airplanes, Azerbaijan Airlines (AzAL) State Concern's deputy director-general Etibar Huseynov told journalists.
06 April 2007 [16:02]

Baku Standard Center to be established

Azerbaijan State Agency for Standardization, Metrology and Patents intends to establish a Standard Center in Baku.
06 April 2007 [15:58]

Ramiz Hasanov: "No control over raw materials in Azerbaijan"

"Azerbaijan does everything to bring its products in line with international standard as it is a member of the International Organization for Standardization."
06 April 2007 [14:17]

IFC surveys about Azerbaijan Corporate Governance Project

The results of a survey to examine the implementation of the corporate governance practices by Azerbaijan's banks, firms, joint-stock companies, were released.
06 April 2007 [14:13]

Pakistan's Minister for Privatization and Investment to visit Azerbaijan

Pakistan's Minister for Privatization and Investment Zahid Hamid will visit Azerbaijan in late April.
06 April 2007 [13:18]

Baku real estate market steady in March

There were relatively steady trends in Baku real estate market in March.
06 April 2007 [13:15]

Baku to host 3rd Azerbaijan-Latvia business forum

The 3rd Azerbaijan-Latvia business forum will be held in the hotel “Park Inn” in Baku on April 17, 2007.
06 April 2007 [08:50]

Baku hosted presentation of Azerbaijan-Japan friendship stamps

Azerbaijan's Telecommunications and Information Technologies Minister Ali Abbasov said trade between the two countries is not satisfactory.
06 April 2007 [08:33]

Azerbaijan implements project on expansion of transparency initiatives in municipal budgets

Press conference has been held today on "expansion of transparency initiatives in municipal budgets" project in Economic Researches Center (ERC).
06 April 2007 [08:32]

TRACECA Members' transport companies to meet in summer

Batumi or Aktau will host the meeting of TRACECA Member States' railway, shipping companies, port chiefs, representatives of customs and expeditor companies in the frame of TRACECA Intergovernmental Commission in June-July.
06 April 2007 [08:31]

AzAL to operate Baku-Kiev-Baku flights three times a week

Azerbaijan Airlines (AzAL) will add Saturday to Baku-Kiev-Baku flights schedule from May 19.
06 April 2007 [08:29]

Sumgait Electricity Networks task force receives over 50 complaints

The task force set by Sumgait Electricity Networks has received some 50 complaints from customers. The task force is processing the applications.
06 April 2007 [08:28]

Bakielektriksebeke to organize extension courses

Bakuelektriksebeke OJSC decided to organize extension courses in Educational Center in order to implement development program of the company.
06 April 2007 [08:27]

Khalg Bank, Azerfon cooperate in payment system

Khalg Bank offers services to customers of 26 bank organizations operating in Azerbaijan for receipt of payments for the services provided by the new GSM operator Nar Mobile (Azerfon).
06 April 2007 [08:15]

Azer-Turk Bank gets 49% growth in assets

As at April 1, Azer-Turk Bank raised its assets to AZN 28,736,868, up 49% from the same period last year.
06 April 2007 [08:14]

A-Group Insurer achieves 25% rise in premiums

A-Group Insurance Company collected AZN 4,959,982.18 in premiums last year with a 25.3% year-over-year rise.
06 April 2007 [08:12]

Georgia to export electric energy to Azerbaijan

Georgia's Prime Minister Zurab Nogaideli told the journalists that in the frame of his visit to Baku, Georgia came to agreement to export electric energy to Azerbaijan.
06 April 2007 [08:11]

Sumgait Electricity Networks cuts off supply to 20,000 defaulters

Sumgait Electricity Networks has cut off power supply to over 20,000 defaulting customers.
06 April 2007 [08:10]

Shah Deniz gas field output to halve against the prediction

The Shah Deniz gas and condensate field, the giant one in the Azerbaijani sector of the Caspian, will not meet the target of 5.8 billion cubic meters of output planned for 2007 because of technical failure in well SDA-01.
06 April 2007 [08:07]

Azercell signs its first int'l MMS agreement

Azerbaijan's leading mobile operator Azercell Telecom JV has put a first international MMS roaming service in Azerbaijan with aim of making its customers to feel at home.
05 April 2007 [20:07]

BP's Azeri pipeline reaches million bpd capacity

The BP-run Baku-Ceyhan pipeline from Azerbaijan to Turkey has reached its full capacity of 1 million barrels per day, the British firm said on Thursday.
05 April 2007 [20:05]

Consortium to be set up to lay Caspian segment of TAE optic line

Azerbaijan, Kazakhstan, Turkey and Georgia will set up a consortium to lay the Caspian section of the Trans-Asia-Europe fiber optic communication line, Azerbaijan's communications and information technologies minister said Thursday.
05 April 2007 [19:55]

Azerbaijan to launch its satellite by 2009-2010

Azerbaijani Communications and Information Technologies Ministry are discussing with international organizations the issue of orbiting national communications satellite. The country is carrying out technical and economic assessment for launching the satellite.
05 April 2007 [19:53]

IMF: "Azerbaijan to earn 200 billion petrodollars"

Thursday, Baku hosted a roundtable meeting, supported by the USAID, the Eurasia Foundation and Entrepreneurial Development Fund, to examine transparency and efficiency in use of the oil revenues in the country.
05 April 2007 [15:58]

Russia's ban on foreign vendors triggers food market shortages

"They think we'll die from hunger if they kick us out. But in reality it's them who will die from hunger."
05 April 2007 [15:43]

Azerbaijan, Russia not negotiating on electricity imports

Azerenergy and RAO EES (Unified Energy Systems) are not negotiating on import of Russian electricity.
05 April 2007 [15:20]

Preliminary trial on case of Barmek officials postponed

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, did not take place.
05 April 2007 [14:25]

BTC pipeline exports 100mln barrels of oil

100mln barrels of oil have been exported to Europe via the Baku-Tblisi-Ceyhan (BTC) pipeline.
05 April 2007 [12:03]

Tariff Council mulls over new proposals

Tariff Council, State Prices Regulator, are considering proposals to increase railway transportation and communications tariffs and utilities fees for refuse collection, elevator and so on.
05 April 2007 [08:23]

TRACECA Summit to be held next year

The meeting of Standing Secretariat of TRACECA (Transport Corridor Europe Caucasus Asia) Intergovernmental Commission, National Secretariats and civil air transport administrations' chiefs held in Antalya is over.
05 April 2007 [08:21]

CATEL intends to cut subscription fees and prices

Azerbaijan communications market player Caspian American Telecommunications, LLC (CATEL) intends to reduce subscription fees and tariffs.
05 April 2007 [08:20]

Imishli Sugar Refinery's campaign for sugar-beet over

The campaign for sugar-beet organized by Imishli Sugar Refinery of Azersun Holding Group of Companies is over.
05 April 2007 [08:20]

AzSighorta opens office in Sumgait

Azerbaijan's AzSighorta has opened an additional office in Sumgait.
05 April 2007 [08:14]

Germany allocates funds to reconstruct sewerage system in Azerbaijani regions

German government has already paid the funds for reconstruction of sewerage system of Ganja and Sheki regions of Azerbaijan, German ambassador to Azerbaijan Per Stankina told journalists.
05 April 2007 [08:07]

Russian delegation to visit Azerbaijan

A delegation from Ulyanov province of Russia intends to pay official visit to Azerbaijan.
05 April 2007 [08:02]

Customs Committee chief receives BP official

Chief of State Customs Committee of Azerbaijan Aydin Aliyev received president of BP Caspian Sea Company Bill Schrader.
05 April 2007 [08:01]

Baku hosts international conference on Azerbaijan's WTO membership

Conference on 'International Trade, Standards and World Trade Organization (WTO): current situation, problems and prospects' has been held in Azersun Holding Group of Companies' head office in Baku.
05 April 2007 [07:59]

Azerbaijan to use alternative energy sources

It is very profitable to harness the sun's rays as a source of heat, said Azerbaijan's Industry and Energy Ministry's official for Economy Department Rafig Aliyev
05 April 2007 [07:52]

Consumer goods and services sales jump 18.5% in Azerbaijan, Jan-Feb

In Azerbaijan consumer goods and services bought by population during January and February totaled AZN 1,421.3 million, 18.5% higher than a year earlier.
05 April 2007 [07:51]

Dubai hosts seminar on Azerbaijan's Investment Climate and investment potentials

Dubai hosted seminar Azerbaijan’s Investment Climate and Investment Potentials, said Azerbaijan's Ambassador to United Arab Emirates Eldar Salimov.
05 April 2007 [07:47]

Baku-Tbilisi-Kars railroad construction to start in two months

Turkey has carried out economic assessment of Baku-Tbilisi-Akhalkalaki-Kars railroad construction project.
05 April 2007 [07:45]

CATEL's coverage to be reached in northern and southern regions

Azerbaijan communications market player Caspian American Telecommunications, LLC (CATEL) Joint Venture will enlarge its coverage around the northern and southern regions of Azerbaijan to provide CDMA (Code Division Multiple Access) services.
05 April 2007 [07:38]

UAE businessmen intend to cooperate with Azerbaijan closely

United Arab Emirates' businessmen intend to cooperate with Azerbaijan closely, said Eldar Salimov, Azerbaijan's Ambassador to this country.
04 April 2007 [19:44]

German businessmen to visit Azerbaijan

Economical delegation from Germany is planning to visit Azerbaijan soon.
04 April 2007 [19:42]

Akkord Group of Companies: "We have not received any proposal from the Ministry for youth camp"

Akkord Group of Companies refuted Youth and Sport Minister Azad Rahimov's statement about carrying out unproductive negotiations over construction of youth camp in Azerbaijan.
04 April 2007 [19:30]

Azeri, Kazakh, Georgian PMs meet in Baku

Baku has today hosted a trilateral meeting of Azeri, Kazakh and Georgian Prime Ministers - Artur Rasizade, Karim Massimov and Zurab Nogaideli.
04 April 2007 [19:26]

AMF amends mortgage lending procedure

Azerbaijan Mortgage Fund (AMF) has amended mortgage loan lending mechanism.
04 April 2007 [19:22]

Azerbaijan presents preliminary report on renewable energy development project

Azerbaijan's Industry and Energy Ministry has delivered a presentation on renewable energy development project in the country.
04 April 2007 [14:17]

Kazakh PM participated in Baku grain terminal opening ceremony

Opening ceremony of the Baku grain terminal located in the suburb of Azerbaijani capital took place on Wednesday.
04 April 2007 [14:01]

CATEL intends to assemble CDMA handsets in Azerbaijan

Azerbaijan communications market player Caspian American Telecommunications, LLC (CATEL) intends to assemble CDMA cell phones in Azerbaijan in the nearest future.
04 April 2007 [13:24]

Flour products prices not to jump in Azerbaijan, Agriculture Minister says

The price of flour products are not expected to leap in Azerbaijan and the country is capable of supplying its own needs for grain, said Azeri Agriculture Minister Ismat Abbasov.
04 April 2007 [12:35]

SOCAR office in Romania to deliver Azeri oil

The employees, who will be redundant after the Shah Deniz field development project is complete, will be granted severance pay equal to their three-month wages, said Rovnag Abdullayev, the President of the State Oil Company of Azerbaijan (SOCAR).
04 April 2007 [12:18]

Burgas-Alexandropoulos not alternative to BTC pipeline, says Azeri Premier

There is a need to further advance the developing bilateral cooperation between Azerbaijan and Kazakhstan, Azeri Prime Minister Artur Rasizade told a joint conference with his Kazakh counterpart Karim Masimov after a closed-door meeting, Thursday.
04 April 2007 [10:43]

Trades at BICEX, Apr 3

The weighted average exchange prices made up 0.8665 AZN for 1 US dollar in the Baku Interbank Currency Exchange on April 3.
04 April 2007 [09:06]

Azerbaijan imports new models of BMW X5

Improtex Motors has marketed the new models of BMW X5in Azerbaijan.
04 April 2007 [09:04]

HSBC delivers mobile ads to passers-by via Bluetooth

The UK HSBC Bank is planning to target Bluetooth phone-owners outside bank offices to encourage them to get more information about the services.
04 April 2007 [08:10]

CIS Statistics Committee reveals average GDP growth

In January-February 2007, GDP grew 9 percent on average in the CIS compared with the same period in 2006, the CIS intergovernmental statistics committee said.
04 April 2007 [08:07]

Kazakhstan to guarantee 10 million tons of cargo for transport on key Caucausian railway

Kazakhstan will guarantee at least 10 million tons of cargo for a new railway line being built across the Caucasus and into Turkey, the Kazakh transport minister said Tuesday, in what would be a major vote of confidence for the cargo route.
04 April 2007 [08:04]

Royal Bank of Baku to open three branches

OJSC Royal bank of Baku intends to establish three new branches in capital this year.
04 April 2007 [07:56]

South Korean company to present Intellectual Traffic Control System in Baku

0n April 6-7, South Korean Company SKC will deliver a presentation of its technical draft for creation of Intellectual Traffic Control System in Baku.
04 April 2007 [07:54]

SOCAR's Q1 crude exports via Baku-Novorossiysk pipeline reach 183,431 tons

State Oil Company of Azerbaijan (SOCAR) exported 119,563 tons of crude oil through the Baku-Novorossiysk route during March.
04 April 2007 [07:51]

Azerbaijan to host trainings on productivity and competitiveness

Azerbaijan's National Confederation of Entrepreneurs (Employers) Organizations (AEC) will hold trainings to increase productivity and competitiveness of the employers from April 4 to 6.
04 April 2007 [07:47]

UniLeasing leases out vehicles

Azerbaijan's UniLeasing has started a car leasing campaign for individuals.
04 April 2007 [07:47]

Azerbaijan to improve state-owned real estate registration and management

Azerbaijan is carrying out a WB-supported project to improve public immovable property management and registration.
04 April 2007 [07:45]

Azeryolservis reconstructs over 20km road in Baku

Azeryolservis OJSC has reconstructed over 20km road in Baku from February 21 to April 1 at the expense of Highway Targeted Budget Fund.
04 April 2007 [07:45]

Average salary rises 25.4% in Azerbaijan, Jan-Feb

The average monthly salary stood at AZN 161.4 during January and February, 25.4% higher than a year earlier.
04 April 2007 [07:44]

Azerbaijan Mortgage Fund finances 635 loans

As of April 1, 635 mortgage loans were lent through funding from Azerbaijan Mortgage Fund. The total amount of financed loans was AZN 21mln.
04 April 2007 [07:43]

Finance Minister visits Turkey

Azerbaijan's Finance Minister Samir Sherifov has left for Turkey to attend the first annual conference on current issues in financial management. The conference will be held in Turkey's Bikkent University.
03 April 2007 [21:28]

OSCE Office organizes labour rights seminar in Azerbaijan

Promoting professional relations between employers and employees and raising awareness of labour rights are the focus of a seminar that started in the Nakhchivan Autonomous Republic of Azerbaijan on Tuesday.
03 April 2007 [20:46]

Standard Capital tops ranking of brokers in March

In March, according to the calculations by the Analytical Department of the BSE, in the government securities market (excluding repo operations market) Standard Capital headed the ranking of brokers with brokerage services in the total amount of AZN 37,701,906.22 provided to six clients.
03 April 2007 [20:45]

Barmek seeks more damages from Azeri government

Barmek-Azerbaijan Electricity Distribution LLC will claim Azerbaijan government damages worth 450-500 USD in International Center for Settlement of Investment disputes (ICSID).