Business

18 December 2006 [14:09]

Greek minister: Part of Greece-Turkey gas pipeline to operate in 2007

Greek Development Minister Dimitris Sioufas said that, Greek section of a natural gas pipeline to Turkey is due to begin operating in May 2007.
18 December 2006 [13:54]

Azerbaijan and Russia want to agree on electricity deal in December

By December 20 Azerbaijani and Russian energy officials plan to agreement on energy imports to Azerbaijan from 2007, said Azerenergy Vice-President Marlen Asgarov.
18 December 2006 [13:36]

Gas removal begins at Shah Deniz

Workers on Saturday began extracting natural gas from Azerbaijan's massive Shah Deniz field operated by British Petroleum PLC, state energy officials said.
18 December 2006 [13:35]

ICT Ministry develops Telecommunications Policy Plan

Communications and Information technologies Ministry has developed Telecommunications Policy Plan for implementation of the State Program for ICT Technologies in Azerbaijan (e-Azerbaijan).
18 December 2006 [13:20]

Jordan Trade Chamber Senator, Azeri Ambassador confirm importance of promoting economic ties

Chairman of Jordan Trade Chamber Senator Hider Murad discussed on Sunday with Ambassador of Azerbaijan Elman Arasli means of following up the outcomes of Premier's visit to Azerbaijan last month.
18 December 2006 [11:16]

Nominal income grows 22.5% in Azerbaijan

During the period of January-September the incomes of Azerbaijani population brew by 22.5%, year-over-year, to AZN 9.2bn at face value, State Statistical Committee told.
16 December 2006 [13:05]

Turkish Industry and Trade Minister to visit Baku

The delegation of Turkish businessmen led by Minister of Industry, Ali Coskun, will visit Baku December 18-20, Turkey's Embassy in Baku informs.
16 December 2006 [12:24]

AIOC increases oil output by 79%

Azerbaijan International Operating Company increased oil output by 79%, year-over-year, to 20,961m metric tons in Azeri-Chirag-Guneshli field during the period of January-November.
16 December 2006 [12:21]

Glencore Energy UK Ltd to export Azeri Light crude oil

Glencore Energy UK Ltd. has won the bidding announced by SOCAR Marketing and Economic Operations Department.
16 December 2006 [12:09]

Baku hosts Azerbaijani and Russian energy officials

Azerenergy and RAO EES (Unified Energy Systems) have met in Baku to discuss the issue concerning energy supplies to Azerbaijan, Azerenergy Vice-President Marlen Asgarov said.
16 December 2006 [11:41]

BP-Azerbaijan announces 5th Biodiversity Competition Award

BP-Azerbaijan has announced the 5th Biodiversity Competition award in Azerbaijan in the theme of Biodiversity in Azerbaijan.
15 December 2006 [23:00]

Azeri Parliament passes rate of excise duties for imported cars

Azeri Taxes Minister Fazil Mammadov said the rules for excise duties are based on the engine capacity. The duty per cu cm will be AZN 0.15 for cars with engine of up-to 2,000 cu cm.
15 December 2006 [22:51]

Information about explosive in Bank Respublika false

There was a phone call to the main office of Bank Respublika warning of explosive planted there, Chingiz Bagirov, Sebayel district Police Office Department chief told.
15 December 2006 [16:37]

Warning of explosive planted in Bank Respublika

There was a phone call to the main office of Bank Respublika warning of explosive planted there, Chingiz Bagirov, Sebayel district Police Office Department chief stated.
15 December 2006 [13:23]

OPEC to trim down output from February

OPEC ministers agreed in principle Thursday to leave oil production unchanged for now but set the stage for a likely cut of half a million barrels day in February.
15 December 2006 [13:07]

Azercell to make investments of $130m next year

Azercell doesn't intend to change its operation strategy after the government's stake in the company is privatized.
15 December 2006 [11:48]

Deals at BICEX, Dec. 14

The weighted average exchange price made up 0.8720 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange.
15 December 2006 [11:38]

Georgia to be charged about $170 per 1,000 cu m of gas

Next year Georgia will pay on average USD 170 per 1,000 cubic meters of natural gas imports, independent expert Giya Khukhashvili told.
15 December 2006 [00:37]

Azercell not to shift price policy next year

Azerbaijan's leading mobile operator Azercell Telecom JV prefers to provide high-quality services to its customers, Azercell Director General Halim Atesh said.
14 December 2006 [22:04]

Turkey, Israel OK energy corridor

Turkey and Israel have agreed to set up an energy corridor that will carry to Israel oil from Baku, Azerbaijan, via Ceyhan, Turkey.
14 December 2006 [17:40]

Georgia reduced debts to Azerbaijan by 12.5%

As of December 1, Georgia amortized its government debts owed to Azerbaijan to USD 14.553m, by reducing the debt by 12.46% or $2.071m in November.
14 December 2006 [17:12]

Azerbaijan, Georgia, Turkey discuss Caspian gas quota

Experts from Azerbaijan, Georgia and Turkey are meeting in Baku Thursday to discuss the technical and financial aspects of distributing Turkey's quota of natural gas between the three nations.
14 December 2006 [11:56]

Taxes Ministry finds irregularities in 36 911 trade facilities

Taxes Ministry Operational Control Department have to date examined 157 061 various kinds of trade facilities and found serious irregularities in 36 911 of them.
14 December 2006 [11:45]

Deals at BICEX, Dec. 13

The weighted average exchange price made up 0.8721 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange.
14 December 2006 [11:15]

Tax privilege expected in mortgage lending in Azerbaijan

Mortgagors can be partially exempted from some taxes in Azerbaijan.
14 December 2006 [10:54]

Module power station to be commissioned in Nakhchivan

Construction of 87 MW module power plant has continued to progress during the period of May-December.
14 December 2006 [10:51]

Baku probes companies producing harmful goods

Azerbaijan State Agency for Standardization, Metrology and Patents has sent the facts on companies producing products harmful to health to the law enforcement structures.
13 December 2006 [17:50]

Two road bridges to be commissioned in Baku this week

2 out of 9 road bridge projects will be commissioned in Baku this week.
13 December 2006 [13:34]

Dagestani Border Service arrests Azerbaijani ship

The officers of Border Service of the Russian Federal Security Service on Dagestan detained Azerbaijani ship yesterday.
13 December 2006 [13:27]

Emergencies Ministry finds low-quality cement in domestic market

Emergency Situations Ministry of Azerbaijan has found low-quality cement on sale in the domestic market.
13 December 2006 [13:04]

New banknotes beat 95% in circulation in Azerbaijan

New banknotes have exceeded 95 percent in the circulation in Azerbaijan.
13 December 2006 [12:57]

National Bank: "Inflation rate under 9% in 2006"

"Inflation rate reached 8 percent during the period of January-November," National Bank of Azerbaijan Management Board Chairman Elman Rustamov said.
13 December 2006 [12:53]

65 tankers sail to world market from Ceyhan

65 tankers carrying 47m barrels of oil sailed from Ceyhan Port to the world market. Turkey gained USD 300m from taxes and customs tariffs.
13 December 2006 [11:31]

Parliament to discuss amendments to Tax Code

Azerbaijani Parliament will discuss the amendments to the Tax Code, Deputy Minister of Taxes Shahin Mustafayev stated.
13 December 2006 [11:30]

Tokens not to be used in Baku Metro

Passengers can use tokens to go by Baku Metro by this year end. Baku Metro chief Tagi Ahmadov stated.
13 December 2006 [11:29]

Rabitabank starts using EBRD credit lines

The board meeting of Rabitabank shareholders approved the USD 3m credit line opened by the European Bank for Reconstruction and Development, Rabitabank Head Office informs.
12 December 2006 [23:32]

USAID SME Support through Financial Sector Development Project conducts presentation

USAID-funded Azerbaijan Small and Medium Enterprise Support through Financial Sector Development Project held a presentation of proposals on December 11 on legal analysis and amendments to the legislation aimed at improving mortgage lending.
12 December 2006 [21:43]

BP says Azeri oil production cut due to power outage

BP PLC said oil production at the Azeri fields in the Azerbaijan sector of the Caspian Sea has been partially disrupted by a power outage.
12 December 2006 [21:42]

Caspian Sea's sturgeon population declining

Poachers will exhaust the Caspian Sea's caviar reserves in 14 years unless measures are taken to change the situation.
12 December 2006 [21:18]

Azerbaijan to stop importing Russian gas beginning New Year

Azerbaijan will stop importing Russian gas despite the danger of a resulting shortfall in energy supplies, a senior Azeri energy official said Tuesday, after Moscow asked for more than double its previous price.
12 December 2006 [21:17]

Azerbaijan, Kazakhstan eyeing prospects for economic cooperation

The Kazakhstan-Azerbaijan: prospects for cooperation business forum will greatly strengthen the partnership and economic ties between Kazakhstan and Azerbaijan, Heydar Babayev, the Economic Development Minister of Azerbaijan, said at the forum.
12 December 2006 [16:00]

Azerigas to sue debtor customers

Azerigas will sue the customers evaded paying the gas bills.
12 December 2006 [15:43]

Azerbaijan, Georgia and Turkey to discuss security of pipelines

"The representatives of the organizations realizing the security of oil and gas pipelines among Azerbaijan, Georgia and Turkey will meet in Ankara soon. The date of the meeting is being determined at the moment," chairman of the State Special Guard Service colonel-general Vagif Akhundov, told journalists.
12 December 2006 [15:26]

Vagif Akhundov: "Protection of oil-gas pipelines meets international standards"

"The protection of oil-gas pipelines is a new field of activity for State Special Guard Service, notwithstanding it, we achieved to learn international experience in a short time and apply it to the practice," the chief of Sate Special Guard Service Vagif Akhundov told.
12 December 2006 [14:21]

Deals at BICEX, Dec. 12

The weighted average exchange price made up 0.8721 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange.
12 December 2006 [12:25]

ICT Minister Ali Abbasov visits Moscow

Communication and Information Technologies Minister Ali Abbasov has left Baku for Moscow to attend 15th anniversary of the Organization of Regional Cooperation in Communications.
12 December 2006 [12:24]

BICEX to launch new trading system

Baku Interbank Currency Exchange intends to launch new trading system from the second quarter of 2007.
12 December 2006 [12:24]

Most new buildings not registered in Baku

Most of new high-rise buildings have not been registered in Baku, Real Estate Registration Service chair Arif Garashov said.
12 December 2006 [12:22]

Minister of Labor and Social Protection visits Russia

The two-day conference on "Improvement of civil labor migration role and formation of efficient migration infrastructure in Russia and near foreign countries" organized by Labor Migration International Association started in Moscow.
12 December 2006 [11:29]

Vahid Novruzov: "60 independent auditors and 60 auditing companies in Azerbaijan"

There are some 60 independent auditors and some 60 local and 5 foreign auditing companies in Azerbaijan, moreover, 30 more auditors will soon be granted license, Azerbaijan Auditors’ Chamber chairman Vahid Novruzov said.
12 December 2006 [11:26]

Presentation of proposals on improvement of mortgage lending delivered in Baku

USAID SME Support through Financial Sector Development Project, implemented by ACDI-VOCA delivered a presentation of the comprehensive legal analysis, proposals and recommendations to improve regulatory framework for mortgage lending system in Azerbaijan.
11 December 2006 [15:30]

SOCAR wishes to up gasoline prices

"The Government don't intend to increase domestic gasoline prices from next year," SOCAR President Rovnag Abdullayev said.
11 December 2006 [15:20]

SOCAR intends to build refinery in Ceyhan Port

SOCAR & Turccas Joint Venture, established by the SOCAR (51%) and Turccas Petrol (49%), will be engaged in selling Azeri gas in Turkey, SOCAR President Rovnag Abdullayev said.
11 December 2006 [15:07]

Kars-Igdir-Nakhchivan railway route to be set

"Activities for realization of Baku-Tbilisi-Kars railway line have continued to progress and the current works are satisfactory," Transportation Minister Ziya Mammadov said.
10 December 2006 [09:25]

Azercell signs roaming agreement with India

Azerbaijan's largest mobile company Azercell has signed roaming agreement with Indian 'Madhya Pradesh' and 'Mumbai' operators of 'Bharti Airtel' Company.
10 December 2006 [09:23]

Azerigasbank becomes "Bank of Year"

Azerigasbank has received "The Bank of the Year" award for notable increase in financial indices and number of clients as well as application of up-to-date banking technologies and successful cooperation with the world’s biggest banks and financial institutions.
10 December 2006 [09:08]

Emergencies Ministry warns construction companies

The preliminary investigation on the accident in result of decline of drilling-pile device in Nasimi District was over.
10 December 2006 [09:00]

Natig Aliyev: "Gas prices remain unchanged, amount changes for Georgia"

On Dec. 13 the first well will come operational in Shah Deniz gas and condensate field, Azerbaijani Industry and Energy Minister Natig Aliyev said in Tbilisi.
10 December 2006 [08:57]

Azerbaijan Emergencies Ministry and French Ministry for Regional development signs protocol

Emergencies Minister Kamaleddin Heydarov received French Minister Delegate for Regional Development Christian Estrosi.
09 December 2006 [17:29]

Azerbaijan and Japan to sign 8 contracts in 2007

"Japanese Embassy has partnership with Azerbaijani government in several spheres," Tadahiro Abe Japanese Ambassador Extraordinary and Plenipotentiary to Azerbaijan told journalists.
09 December 2006 [13:32]

Azerdemiryolbank intends to complete credit facility usage by this year end

By this year's end Azerdemiryolbank intends to complete the use of $3m-credit lines opened by the EBRD in November, 2005 and May, 2006.
09 December 2006 [13:28]

Filling stations near residential areas to be closed in Azerbaijan

In Azerbaijan gas and gasoline filling stations near (300 meters) residential areas can be closed.
09 December 2006 [01:14]

Trades at BICEX, Dec. 8

The weighted average exchange prices made up 0.8722 AZN for 1 US dollar in the Baku Interbank Currency Exchange on December 8.
09 December 2006 [01:04]

Kars-Akhalkalaki-Baku railroad to spur ferryboat traffic between Georgia and Ukraine

The ferry communication from Ukraine to Georgia and Azerbaijan will intensify next year after Kars-Akhalkalaki-Baku railroad becomes operational, Ukrainian media quoted Azeri ambassador to Ukraine Taliat Aliyev as saying.
09 December 2006 [01:01]

Georgia to import 10 mln cu m of Azerbaijani gas in 2006

Georgia will receive ten million cu m of Azerbaijani natural gas in 2006 via the South Caucasus Pipeline, operated by BP and Statoil, at a discounted price, the Georgian energy minister said Friday.
09 December 2006 [00:59]

Georgian, Azeri, Turkish Energy Ministers meeting with President Saakashvili

The high-profile meeting of Energy Ministers of Georgia, Azerbaijan and Turkey began at 12pm in Courtyard Marriott and last till 18pm.
09 December 2006 [00:57]

Turkey to share Caspian gas quota with Georgia, Azerbaijan

Turkey's energy minister agreed Friday to transfer part of his country's quota for natural gas produced in Azerbaijan's section of the Caspian to Georgia and Azerbaijan.
09 December 2006 [00:49]

New cement prices to be become effective from January

The Government of Azerbaijan and Garadagh Cement are seeking for precautions to thwart increasing cement prices in the domestic market, Economic Development Minister Heydar Babayev said after meeting with Garadagh Cement management.
08 December 2006 [16:49]

Consultations between Azerbaijan Government and Rusal were in vain

Rusal's proposals in their current forms turned out unacceptable.
08 December 2006 [16:01]

Energy Minister meets with European Commission's envoy

Minister of Industry and Energy Natig Aliyev met with European Commission's envoy to Azerbaijan Alan Waddams on December 7.
08 December 2006 [15:56]

Azerbaijan to fish 90ton of Caspian sturgeon

A sitting of a commission over a fishing in the Caspian Sea was held in Moscow.
08 December 2006 [15:47]

World Bank launches new partnership strategy with Azerbaijan

On Thursday, the World Bank's Board of Executive Directors discussed a new Country Partnership Strategy (CPS) for Azerbaijan.
08 December 2006 [13:28]

Barmek officers sentenced

The trial of 6 Barmek-Azerbaijan Electric Network officers, presided over by Azer Jafarov in Grievous Crimes Court was over on Friday.
08 December 2006 [13:20]

State Social Protection Fund's incomes rose by 16% in Jan-Nov

The incomes of the State Social Protection Fund grew by 16%, year-over-year, during January-November to AZN 519.924m.
08 December 2006 [13:19]

Munis to be issued in Azerbaijan

First municipal bonds will be issued in Azerbaijan next year.