Business

20 September 2006 [10:01]

EU and Azerbaijan to sign energy agreement

Azerbaijan and the European Union can sign an agreement on energy cooperation after the Action Plan was confirmed.
20 September 2006 [10:00]

Auction on placement of T-bills of Finance Ministry held at BSE

The placement of T-bills of Ministry of Finance with the state registration number 10302713S was held at Baku Stock Exchange.
20 September 2006 [09:57]

Fuel filling stations to be checked again

Industry and Energy Ministry will start checkeing of fuel stations in a few days.
20 September 2006 [09:55]

Lenkeran to stay without gas until gas bills paid

Gas supply to Lenkeran and some settlements will be restored after the gas bills are paid.
20 September 2006 [09:27]

Transportation tariff rose by 6.8% in Azerbaijan

Transportation fees have fallen by 0.7 percent as against previous months but rose by 6.8 percent in comparison with December last year.
20 September 2006 [09:23]

Basic pension to rise by 50 % by late 2007

State Social Protection Foundation has coordinated preliminary parameters of the budget for 2007.
20 September 2006 [09:19]

International health and dental exhibition to take place in Baku, Sep. 26-29

BIHE-2006 – 12th Azerbaijan International Health Exhibition and Dental Azerbaijan 2006 – 1st Azerbaijan International Dental Exhibition will take place in Heydar Aliyev Sport and Concert Palace on September 26.
20 September 2006 [09:13]

Armenians extract about 30 tonnes of gold in Azerbaijani occupied region

Armenians have extracted nearly 30 tonnes of gold from Soyudlu gold deposit in the occupied Azerbaijani region of Kalbajar.
20 September 2006 [09:01]

WB mission visits Azerbaijan

World Bank Mission on the project of support for railway transport and trade has visited Baku.
20 September 2006 [08:59]

Assets of UniBank CB rise by 69%

UniBank CB has done the financial summary of the first eight months of 2006 indicating the material growth over all the key financial parameters as against the same period, 2005, on average 1.7-2 times.
20 September 2006 [08:56]

NBA to announce auction on placement of short-term notes Sep. 20

Auction on placement of notes of National Bank will be held at BSE on September 20.
19 September 2006 [22:10]

Trades at BICEX

The weighted average exchange prices made up 0.8768 AZN for 1 US dollar in the Baku Interbank Currency Exchange on September 19.
19 September 2006 [14:27]

Salim Muslumov: "Pension database allows preventing fraud"

Today Caspian Integration Business Club members met with Salim Muslumov, chair of State Social Protection Fund.
19 September 2006 [14:06]

Huseyn Arabul concerned over trial delay

Barmek is pleased with hand-over test with Economic Development Ministry, Barmek Azerbaijan Electricity LLC President Huseyn Arabul stated.
19 September 2006 [13:09]

Natig Aliyev discusses Azebaijan-Moldova economic relations

Natig Aliyev, Minister of Industry and Energy of Azerbaijan met with Constantin Mihailescu, Moldova’s Minister for Natural Resources and Ecology.
19 September 2006 [11:37]

Ziyad Samadzadeh: "Budget expenditures must be increased"

According to Ziyad Samadzadeh, Milli Majlis economic policy standing commission chief, Azerbaijan government has to increase the budget expenditures in 2007.
19 September 2006 [10:25]

Azerbaijan's and Russia's Accounting Chambers meet in Baku

Informal meeting of Azerbaijani and Russian Accounting Chambers took place in Baku yesterday.
19 September 2006 [10:14]

Azerbaijan and Turkey agree on unemployment benefits

Azerbaijani citizen can receive unemployment benefits in Turkey and Turkish citizens in Azerbaijan.
19 September 2006 [09:46]

SOCAR completes jet fuel delivery to Roc Oil

State Oil Company of Azerbaijan (SOCAR) has completed jet fuel delivery to Roc Oil of Australia.
19 September 2006 [09:44]

Gas supply to Lenkeran cut off

Azerigas cut off natural gas supply to Lenkeran and its some settlements.
19 September 2006 [09:40]

120 companies to attend international ICT Exhibition in Baku

12th Azerbaijan International Telecommunications and Information Technologies Exhibition-BakuTel will take place in October 3-6 in Baku.
19 September 2006 [09:35]

Taxes Ministry imposed penalties of AZN 2 157 342 on 23 746 trade facilities

Taxes Ministry Operational Control Department have to date examined 101 684 various kinds of trade facilities and found serious irregularities in 23 746 of them.
19 September 2006 [09:18]

MegaFon Telecom eyes Azerbaijan for expansion

Russian telecoms firms are vying with each other for market share in neighboring countries as the domestic mobile market reaches saturation point.
19 September 2006 [09:14]

Kozeny extradition case put off again

The Bahamas magistrate presiding over the Viktor Kozeny extradition matter is now expected to deliver a ruling on September 28, in another delay of proceedings in the high-profile matter.
19 September 2006 [09:06]

Government receives legal and normative documents on improvement of privatization

The State Committee for Management of Public Property has worked out number draft legal and normative document on the implementation of 23 August 2006 Presidential decree on extra measures concerning improvement of state-run enterprises management and privatization of the state properties.
18 September 2006 [20:57]

Trades at BICEX

The weighted average exchange prices made up 0,8772 AZN for 1 US dollar in the Baku Interbank Currency Exchange on September 18.
18 September 2006 [18:29]

"Turkey-Eurasia Foreign Trade Bridge" summit held in Istanbul

Turkey has hosted the second biggest economy summit twice in the last four months. A total of 450 businessmen and 10 ministers from 12 countries discussed new opportunities of business partnership at the Lutfi Kirdar Congress Center in Istanbul.
18 September 2006 [16:29]

The National Interest online: Why sanctions on Iran will fail

US President George W Bush is calling for multilateral sanctions on Iran. Sanctions won't succeed in cowing Iran, but they will indeed have ominous consequences for the United States and the rest of the world.
18 September 2006 [16:22]

Caspian Holdings reports positive results from Kazakh oilfield drilling

Caspian Holdings Plc, the oil and gas production and exploration Company in Kazakhstan, issues a further set of positive results from the drilling campaign at its Zhengeldy oil field.
18 September 2006 [12:48]

Production of manufactured goods rises by 40.5%

AZN 8.4 bln worth of manufactured goods were produced in Azerbaijan in January-August, up by 40.5% on the same period last year.
18 September 2006 [12:39]

Turkey's economy face-to-face new crisis

"The present deficit is attributed to the currency flow abroad and the imbalance between currency incomes and currency expenses.
18 September 2006 [11:10]

US coordinator to visit Azerbaijan

Ambassador David Gross, the State Department's coordinator for international communications and information policy, will stay in Azerbaijan on September 21-22.
18 September 2006 [11:08]

Poland to back Azerbaijan's membership to WTO

Poland backs Azerbaijan's bid for World Trade Organization (WTO) membership and is ready to send its specialists to bring Azerbaijani laws in line with WTO standards.
18 September 2006 [11:02]

BP open to new BTC oil suppliers

BP PLC (BP) is open to the addition of new oil suppliers for the Baku-Tbilisi-Ceyhan, or BTC, pipeline it operates, a company spokesman said this week.
17 September 2006 [02:08]

Chinese company Azerbaijani workers stage protest action

Azerbaijani workers of Chinese Excavation Company in Salyan region started a protest action.
17 September 2006 [01:54]

Tariff Council raises natural crude gas price

The Tariff Council raised the price of natural crude gas to AZN 4,37 per 1 000 cubic meters at its meeting on Saturday.
16 September 2006 [10:22]

Deals of $5.71mn closed at BICEX, Sep.15

The weighted average exchange price made up 0.8777 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange yesterday.
16 September 2006 [10:18]

Azerbaijani and Korean businessmen to meet in Baku

Meeting of Azerbaijani and Southern Korean businessmen will take place in Baku on September 26.
16 September 2006 [10:14]

Azerbaijan and Iran to expand electricity exchange

Azerbaijan is looking forward to Iran's answer to the proposal on start of the establishment of additional electricity stations in Astara in late September.
16 September 2006 [09:42]

Taxes Ministry imposed penalties of AZN 2 110 966 on 23 218 trade facilities

Taxes Ministry Operational Control Department have to date examined 99 767 various kinds of trade facilities and found serious irregularities in 23 218 of them.
16 September 2006 [09:39]

Interest in Azerbaijan's agricultural goods is high in Northern America and Europe

Rural Enterprise Competitiveness Program workshop examining how to take advantage of growing agribusiness foreign trade opportunities took place yesterday.
16 September 2006 [09:33]

AIOC increases oil exportation by 48.1% in January-August

Azerbaijan International Operating Company exported 12 631 000 tonnes of crude oil during the period of January-August. This figure is a 4 103 000 or 48.1% rise on the same period last year.
16 September 2006 [09:29]

AIOC increases oil production by 92.5% in January-August

Azerbaijan International Operating Company (AIOC) produced 14 188 000 tonnes of oil during the period of January-August.
15 September 2006 [20:22]

Delegation of State Committee fo securities visits London

A delegation led by Gunduz Mammadov, Chairman of the State Committee for Securities under the President of Azerbaijan met with the heads of large financial structures of Great Britain to attract investments to Azerbaijan.
15 September 2006 [19:59]

World Politcs Watch: New Oil and Gas Pipelines Threaten Russia's Regional Energy Dominance

After the collapse of the Soviet empire, the Caspian states of Azerbaijan and Kazakhstan generated a great deal of excitement because of their oil and gas fields, about which little was known.
15 September 2006 [19:38]

Azerbaijan to issue eurobonds next year

At latest Azerbaijan will issue the first eurobonds in 2007 to the international capital market, said Finance Minister Samir Sharifov.
15 September 2006 [14:54]

Draft State Budget for 2007 submitted to Cabinet of Ministers

The Finance Ministry has submitted the Draft State Budget for 2007 to the Cabinet of Ministers today, Finance Minister Samir Sharifov said.
15 September 2006 [14:36]

Fares may rise when new buses are brought to Azerbaijan

The Government of Azerbaijan doesn't plan to raise the price of gasoline in the domestic market, Economic Development Minister-Tariff Council chief Heydar Babayev told a media briefing today.
15 September 2006 [14:08]

President: "The state budget will rise by 50 percent next year"

The state budget of Azerbaijan will rise at least by 50 percent next year, said President Ilham Aliyev in a speech delivered before the residents of Zabrat settlement.
15 September 2006 [10:22]

Azercell Telecom ZenglerimCELL replaced with IzahatCELL

ZenglerimCELL service of Azercell Telecom has been replaced with IzahatCELL since yesterday.
15 September 2006 [10:13]

Deals of $2.5mn closed at BICEX, Sep.14

The weighted average exchange price made up 0.8785 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange yesterday.
15 September 2006 [10:10]

Taxes Ministry imposed penalties of AZN 2 100 648 on 23 104 trade facilities

Taxes Ministry Operational Control Department have to date examined 98 950 various kinds of trade facilities and found serious irregularities in 23 104 of them.
15 September 2006 [09:35]

MFBA signs $2mn loan agreement with Triodos

The Micro Finance Bank of Azerbaijan (MFBA) on 13 September signed a USD 2 million loan with Triodos International Fund Management BV.
15 September 2006 [09:18]

IMF increases global economic growth predictions

The International Monetary Fund has raised its forecasts for global economic growth.
15 September 2006 [09:15]

Bank Respublika's assets reach AZN 85.701mln

The assets of Respublika Joint-Stock Commercial Bank rose 47.1 percent to AZN 85 700.8 mln during January-August.
14 September 2006 [21:51]

Labor Minister meets Turkish counterpart

Fizuli Alakbarov, Azerbaijani Minister of Labor and Social Protection of Population met on September 14 with his Turkish counterpart Murat Bashesgioglu.
14 September 2006 [21:45]

President Aliyev receives BP-Azerbaijan head

On September 14, President of Azerbaijan Ilham Aliyev received at the Presidential Palace President of BP-Azerbaijan company David Woodward.
14 September 2006 [21:41]

Leonid Fedun: "LUKoil's oilfields in Azerbaijan aren't effective"

Russia's LUKoil has discovered six new hydrocarbon fields in the Caspian Sea.
14 September 2006 [21:02]

Moody's assigns 'Ba1' rating to Azerbaijan

Moody's Investors Service on Thursday assigned Azerbaijan a foreign and local currency issuer rating of "Ba1", one notch below investment grade, citing little government debt and rising revenues from oil exports.
14 September 2006 [16:38]

Russia central banker dies after attack

The first deputy chairman of Russia's central bank died in hospital early on Thursday after being shot by gunmen outside a Moscow sports stadium, a senior doctor said.
14 September 2006 [15:14]

Economy growth made 34.4% in H1 '06

Azerbaijan's GDP constituted AZN 10.2bn during January-August and this figure represents a 34.4% increase on the same period last year.
14 September 2006 [15:06]

Minister of Communication and Information Technologies meets US Ambassador

Minister of Communication and Information Technologies Ali Abbasov met with Ambassador of the USA to Azerbaijan Mrs. Anne Derse to discuss participation of the U.S delegation in the BakuTel international exhibition and conference to be held in October, press service of the Ministry said.
14 September 2006 [14:52]

Anniversary exhibition in Izmir

The anniversary exhibition in honor of the 75th anniversary of Izmir International Fair was organized in Izmir, Turkey.
14 September 2006 [14:28]

Siemens to provide Azerfon with high-tech telecommunication network equipment

Azerfon LLC, the third GSM operator in Azerbaijan, has signed an agreement with Siemens AG of Germany for the supply, installation and commissioning of advanced network equipment required to establish the new Azerfon network in Azerbaijan.
14 September 2006 [14:27]

McDermott brought to court

Employee of McDermott Company Rmail Mehbaliyev will bring the company to court.
14 September 2006 [14:05]

BP says Azerbajan Shah Deniz natural gas field to start production end-Sept

A consortium of BP PLC-led Western companies is set to start production at the Shah Deniz Caspian Sea gas field, energy giant BP said.
14 September 2006 [11:40]

Azercell signs new roaming agreements

One of the largest mobile operators of Azerbaijan Joint Venture Azercell Telecom has signed a new roaming agreement with Burkina Faso's 'Telmob' (Onatel) operator.
14 September 2006 [10:19]

IMF-World Bank meeting takes place in Singapore

2006 Annual Meetings of the World Bank and International Monetary Fund will take place in Singapore on September 19-20.
14 September 2006 [10:16]

Azerbaijani businessmen to take part in exhibitions in Bursa

From September 19 through 24, an international exhibition TUYAP "BURTARIM 2006" and the second exhibition "Bursa Dairy industry" will take place in Bursa (Turkey).
14 September 2006 [09:49]

Deals of $8.854mn closed at BICEX, Sep.13

The weighted average exchange price made up 0.8786 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange.
14 September 2006 [09:43]

Taxes Ministry imposed penalties of AZN 2 083 741 on 22 933 trade facilities

Taxes Ministry Operational Control Department have to date examined 96 967 various kinds of trade facilities and found serious irregularities in 22 933 of them.
14 September 2006 [09:38]

Glencore Energy UK Ltd win tender on exportation of Azeri Light Crude Oil

The tender announced by SOCAR Marketing and Business Operations Department has ended.
14 September 2006 [09:29]

Barmek officers deny charges in the trial

Grave Crimes Court today started a hearing of former six officers of Barmek-Azerbaijan Electricity Distribution LLC.
14 September 2006 [09:06]

4 899 tonnes of agricultural goods sold at eight-week fairs

4899.25 tonnes of agrarian goods were sold at fairs held in Baku from July 12 through September 11.
14 September 2006 [08:59]

Business workshop on Azerbaijan's investment potential takes part in Warsaw

Business workshop on the investment potential of Azerbaijan was held within the meeting of Polish-Azerbaijani intergovernmental commission on economic cooperation.