Business

21 March 2006 [16:43]

Main construction works complete in Shahdeniz

Construction works on Shahdeniz gas and condensate development project will take 865 million dollars in 2006.
21 March 2006 [12:22]

Georgia tempted by Iran-Armenia gas project

"Georgia is interested in a project to transport natural gas from Iran via Armenia," Georgian Ambassador Extraordinary and Plenipotentiary to Armenia Revaz Gachechiladze said Monday.
18 March 2006 [21:23]

Central and Eastern Azeri platform project to give 0.75 million barrels of oil

Central and Eastern Azeri platform of Azeri-Chiraq-Guneshli project will give 750000 barrels of oil in the second quarter of this year.
18 March 2006 [21:18]

Country's currency reserves to reach $80 billion soon

Azerbaijani government will benefit $100 million from management of strategic currency funds in 2006.
18 March 2006 [12:12]

Swiss companies become more interested in Azerbaijani economy

Second meeting of the Azerbaijan-Switzerland intergovernmental commission for economic cooperation was held in Bern city March 15.
18 March 2006 [11:42]

Ministry of Taxes applied to Ministry of National Security for strengthening ATIS protection

System similar to the Automated Taxes Information System (ATIS) is developed for the Treasury system as well. The Ministry of Finance and national Bank will join this system in 2007.
18 March 2006 [10:13]

Intel Corporation not to participate in techno-fleet project

"At the present the Intel Corporation does not intend to participate in the project of creation of techno-fleets – free economic zones on information technologies in Azerbaijan".
18 March 2006 [09:33]

Chair of NBA Board held press-conference

The Chair of the Board of the National Bank of Azerbaijan (NBA) Elman Rustamov held a press-conference on the results of the last year.
18 March 2006 [08:03]

Joint mission of JICA and JBIC to visit Baku

Experts of the Japanese International Cooperation Agency (JICA) will participate in construction of the first combined-cycle plant (CCP) in the Shimal Power Plant.
17 March 2006 [15:59]

Chevron signs Azeri oil transit contract

American company plans to transport 4-5 million tons of oil a year through Azerbaijan.
17 March 2006 [15:56]

Tax service to have advanced information technologies in CIS and Eastern Europe

February 17 the Azerbaijani Tax Ministry held a presentation of ATIS (automated tax information system) project, which has been applied since 2006, for the government officials.
17 March 2006 [15:19]

Azeri businessmen see corruption as obstacle to growth

Over half of Azeri entrepreneurs believe corruption is a stumbling block to economic development in the country, according to a recent survey.
17 March 2006 [14:36]

Investments in ACG total $7bn

$7bn manats has been invested since the beginning of Azeri-Chirag-Gunashli (ACG) implementation, Nadir Imanov, a spokesman of BP, an operator of ACG, told journalists during briefing at Sangachal Terminal March 17.
17 March 2006 [10:39]

Azerbaijan to participate in "Inturmarket" exhibition in Moscow

The first international tourism exhibition called "Inturmarket" will be held in Moscow March 19-22.
17 March 2006 [10:34]

Azerbaijan to join 40th congress of International Advertising Association

40th congress of International Advertising Association (IAA) will be held in Dubai, city of the United Arabic Emirates March 21-24.
17 March 2006 [10:30]

IEA: "Oil prices may drop below $60 per barrel"

"World oil prices may drop below $60 per barrel in the near future," International Energy Agency Deputy Executive Director William Ramsay.
17 March 2006 [10:30]

New airports to be constructed and new tankers to be purchased

The European Commission assists Azerbaijan with reconstruction of the transport infrastructure, improvement of border-crossing procedures, personnel training, and under cooperation within TRACECA.
17 March 2006 [10:26]

Yamaha to establish training centre

The Yamaha Company of Japan intends to establish service centers in Azerbaijan in near future.
17 March 2006 [10:17]

Azerbaijan Car Dealers Association identified winners on 5 nominations

Today the Azerbaijan Car Dealers Association awarded several participants of the 3rd Azerbaijan International Car Exhibition held in the Heydar Aliyev Sport and Concert Complex on March 15-18.
17 March 2006 [10:14]

Agreement between ADB and Azersu JSC became effective

The law on the project signed between the Asian Development Bank (ADB) and Azersu Joint-Stock Company (JSC) under the Urban water supply and sewerage Project approved by the President Ilham Aliyev has come to force from Thursday.
17 March 2006 [10:10]

Abid Sharifov and Maurizio Pavesi clashed over corruption in transport sector

Head of the OSCE Office in Baku, Ambassador Maurizio Pavesi's statement on existence of corruption in Azerbaijani transport sector outraged vice-premier Abid Sharifov.
17 March 2006 [09:54]

Mercedes Benz's new GL-Class to be presented to Azerbaijani public

The AutoStar Kaukasus Company, the general distributor of the DaimlerChrysler AG Concern in Azerbaijan, will present Mercedes-Benz's new GL-Class to public soon.
17 March 2006 [09:52]

Energy Symposium to be held in Baku

In an initiative of the Ministry of Industry and Energy of Azerbaijan Energy Efficiency and Stable Development Symposium will be held in Baku on March 28-30 by the UN Department of Economic and Social Affairs.
17 March 2006 [09:47]

Aviation-Technical Center announced tender

The Aviation-Technical Centre Limited Liability Company of the Azerbaijan Air Lines State Concern announced tender to identify contractor companies for construction of the Base Inspection-Repair Metrological and Diagnostics laboratories.
17 March 2006 [08:10]

"Credit evaluation" course to be conducted

Course on "Credit evaluation" will be conducted in the Azerbaijan Bank Training Centre (ABTC) March 22-24.
16 March 2006 [18:15]

Azeri-Spanish business forum due in Baku

An Azerbaijani-Spanish business forum will be held in Baku on March 23.
16 March 2006 [16:45]

OSCE conference on transport starts in Baku

The second preparatory "Increase of transport security of the OSCE region" conference dedicated to the 14th economic forum of OSCE.
16 March 2006 [16:10]

GDP grows by about 48.1%

In January to February 2006 the gross domestic product (GDP) of Azerbaijan grew by 48.1% as compared 2005.
16 March 2006 [13:51]

Agreement on Kazakh oil transportation can be signed this year

Intergovermental agreement on Kazakh oil transportation via the BTC can be signed in 2006.
16 March 2006 [11:00]

Georgia, regional states to mull oil and gas cooperation

The Fifth "Oil, Gas, Energy and Infrastructure" annual international conference will be held in the Georgian capital Tbilisi on Thursday and Friday and attended by some 250 representatives from different countries.
16 March 2006 [10:40]

Minister vows to crack down on unlawful gas price surges

The prices on liquid gas have not increased and a surge is not expected, Industry and Energy Minister Natig Aliyev has said, downplaying the recent concerns over a price hike.
16 March 2006 [10:35]

Azeri, Swiss businessmen to gather in Zurich

The Azeri-Swiss investment seminar will be held in Zurich on Thursday.
16 March 2006 [10:30]

Inflation 5% in 2 months

"Inflation made up 5% in Azerbaijan in the first two months of 2006, or more than two times below the same period of last year," State Statistics Committee chairman Arif Valiyev said.
16 March 2006 [10:15]

Caspian Shipping Company to purchase two more tankers

The Caspian Shipping Company (CSC) will purchase two more tankers soon in order to expand its fleet.
16 March 2006 [10:10]

Chinese cars to be assembled in Ganja

The Ganja Car Factory (GCF) is holding negotiations with a number of leading companies of the world in order to further develop the enterprise and increase production.
16 March 2006 [10:05]

Turtle Wax to sale nanoproducts in Azerbaijan

The Turtle Wax Company being the distributor of autocosmetics intends to start sale of nanoproducts in Azerbaijan within the following months.
16 March 2006 [09:35]

APD inspect cellular phone, perfumes and cosmetics markets

Antimonopoly Policy Department of the Ministry of Economic Development is currently inspecting the cellular phone, perfumes and cosmetics markets of the country.
16 March 2006 [09:30]

Production of Russian midget cars to resume in Ganja

Production of "OKA" midhet cars in Azerbaijan can be resumed this year again.
16 March 2006 [09:20]

International coach station to be constructed

New international coach station complex constructed on the Baku-Sumgait highway will be completely ready by the end of this year.
16 March 2006 [09:10]

Barmek to defend its arrested employees

The Barmek-Azerbaijan Electricity Network Limietd Liability Company (LLC) will defend its employees arrested by law-enforcement bodies.
16 March 2006 [01:42]

Turkish Ambassador: "We will defend Huseyn Arabul within the law"

Turkish Embassy in Azerbaijan also follows the recent processes on Barmek Azerbaijani Electricity Distribution LLC.
16 March 2006 [01:21]

Transport Minister: "Azerbaijan studies possibility of financing railway projects"

The negotiations on allocation of the second loan to the Azerbaijani State Railway Department (ASRD) by the European Bank of Reconstruction and Development for reconstruction of the locomotive park continue.
15 March 2006 [17:57]

Construction of overhead passes starts in Baku

The construction of overpasses aiming to alleviate traffic jams in the Azeri capital Baku was kicked off on Wednesday.
15 March 2006 [16:23]

Attorney General's Office: "Hussein Arabul can be arrested"

Attorney General's Office does not rule out the possibility of Barmek's president arrest
15 March 2006 [16:00]

Foreign currency assets to exceed external liabilities

As for January 1, 2006, foreign currency reserves of Azerbaijan increased by 29.8% to $394 million.
15 March 2006 [15:34]

Turkish President: "Turkey interested in railway project with Georgia and Azerbaijan"

"Turkey is interested in the railway construction with Georgia and Azerbaijan," said Ahmad Nejdet Sezer, the Turkish President, who is on official visit to Tbilisi.
15 March 2006 [12:33]

BP seeking new Azeri contract

BP, the leading foreign investor in Azerbaijan's oil and gas sector, has approached the government to sign a new contract on developing hydrocarbon reserves of the country's major Azeri, Chirag and Deepwater Gunashli fields in the Caspian Sea.
15 March 2006 [12:24]

Chief banker promises "single-digit inflation"

"Inflation in Azerbaijan will not exceed single digits in 2006," the country's chief banker has said.
15 March 2006 [12:11]

Kazakhstan proposes supplements to draft agreement on oil transportation via BTC

"Kazakhstan injected many supplements to an agreement on transportation of Kazakh oil via the Baku-Tbilisi-Ceyhan," said Natik Aliyev, the Azerbaijani Minister for Industry and Energy.
15 March 2006 [09:58]

200 more multiseat buses are planned to be brought to Azerbaijan

Initial results of negotiations aimed at importation of about 200 multiseat buses to Azerbaijan will be known soon.
15 March 2006 [09:30]

Ganja Car Factory to expand production

Construction of about 450 cars in more than 10 modifications was implemented in the Ganja Car Factory (GCF) from the end of 2004 to the beginning of March.
15 March 2006 [09:05]

"Transport security in the OSCE region" conference to be held in Baku

A conference named "Transport Security in the OSCE region" will be held in Baku March 16-17.
14 March 2006 [22:27]

Azerenerji: "Barmek doesn't even fulfill little part of liabilities under investment contract"

Over the 4 years of its work Barmek, the Energy Distribution Company, did not fulfill even the little part of its liabilities under the investment contract.
14 March 2006 [16:21]

Over 20 Azeri companies to take part in AutoShow -2006

More than 20 Azeri companies will take part in AutoShow -2006, the 3rd Azeri International Auto Exhibition, exhibition manager from Iteca Caspian Company informs.
14 March 2006 [14:20]

Training seminar Azeri and Georgian Sea port employees to be held

Training seminar for 20 Azeri and Georgian Sea ports employees will be organized at the Baku Regional Educational Center of World Customs Organization March 15-17.
14 March 2006 [14:01]

New pipelines to be build by SOCAR

An order for pipeline building has been made by Kaspmorneftegasstroi, a special production facility of the State Oil Company of Azerbaijan (SOCAR), to the Deepwater Jackets Factory (DJF) named after Heydar Aliyev.
14 March 2006 [13:34]

Barmek management arrested

Vice-President of Barmek Amer Gunel, Technical Director Vafa Agaev and company manager Mahir Muhtarov were arrested.
14 March 2006 [09:54]

Azercell will provide subscribers with "ZenglerimCELL" service

A new office of Azercell Telecom Joint Venture (JV) will be opened in Ataturk Avenue 2 in Baku March 14 and new "ZenglerimCELL" service will be provided to subscribers there.
14 March 2006 [09:48]

Smuggled products from Russia revealed

During custom survey of the passenger bus from Russian town of Pyatigorsk to Baku in Samur border check-point, Azerbaijani customs officers found smuggled food products and 50 medicines.
14 March 2006 [08:48]

Structural changes to be made in SSPF

Structural changes will be implemented in local branches of the State Social Protection Fund (SSPF) from April 1.
14 March 2006 [08:38]

Three directors of Azerkimya fired

Staff reforms have been started in the Azerkimya State Company (SC).
14 March 2006 [08:31]

AZAL introduces new flights

AZAL State Company is going to introduce new flights related to summer season.
13 March 2006 [18:52]

Azeri oil market: results of week

From 6 through 10 March AZERI LT average price, sold by Azerbaijan in Novorossiysk port, was $62.01 per barrel or $1.19 barrel down as compared to the previous week.
13 March 2006 [18:04]

AIOC installs jacket for East Azeri Platform

The Azerbaijan International Operating Company (AIOC) delivered the jacket for the East Azeri (EA) production, drilling and quarters (PDQ) platform on March 11.
13 March 2006 [17:50]

"Azenergy" to install sensors on the controlled networks

"Installation of sensors is considered to be number one task by Azenergy in maintaining electric networks previously controlled by Bayva distributing company," said Azenergy vice-president Marlen Askerov.
13 March 2006 [16:58]

Asia Development Bank to pay for road construction

Asia Development Bank will pay $93 million capital for the construction of the road, from Yevlax-Ganja and Qazakh regions to the Georgian boundary.
13 March 2006 [15:37]

Azerbaijan Accounts Chamber, the State Audit Bureau of Kuwait sign a cooperation agreement

Cooperation agreement was signed between the Accounts Chamber of Azerbaijan and the State Audit Bureau of Kuwait. Agreement was signed by the head of the Accounts Chamber, Namik Nasrullayev, and the President of the Audit Bureau, Barak Khaled al-Marzuk.
13 March 2006 [13:03]

Azerbaijanis, living in Russia, can use post service

Azerbaijanis, living in Russia, can send money to their families by post.
13 March 2006 [09:59]

Trade turnover between Japan and Azerbaijan reached $70.6 million

Last year volume of trade turnover between Japan and Azerbaijan was $70.6 million.
11 March 2006 [12:58]

Industry & Energy Ministry ceases validity of licenses

In accordance with the information entered the Azerbaijani Industry and Energy Ministry, some gas stations sale liquefied gas at the price exceeding the one, set (15-17gepik/per liter) by the Cabinet Of Ministers on 1 November 2004.
11 March 2006 [10:58]

Sheki and Khachmaz module power stations

Module power plants constructed in Sheki and Khachmaz will be activated in August and September, respectively.
11 March 2006 [10:23]

Forbes journal publishes list of billionaires

Forbes journal reported the annual ranking of the very richest people of the past year.
11 March 2006 [10:10]

Azerbaijani government, KFW to discuss energy project conditions

Electric transmission lines AzHES-Imishli construction project will finally be agreed between the German bank for reconstruction KFW and the government of Azerbaijan in April. KFW has allocated ?30 million for the development of the project.
11 March 2006 [10:05]

German-Azerbaijani Fund's activity might be expanded

Financing possibility for farmers via the German-Azerbaijani Fund (GAF) will be studied by the consultant of German bank for reconstruction KFW – German company Business Financial Consulting till March 18.
11 March 2006 [09:55]

Japan allocates a $1m grant for development of business estates in regions

The Asian Development Bank (ADB) and the Azerbaijani government will sign an agreement on the project for development of business estates in Baku on March 13.