Business

20 March 2007 [10:04]

AzAL to launch Baku-Saint Petersburg flight from March 25

Azerbaijan Airlines (AzAL) will operate flights between Baku-St. Petersburg with a-319 airbus from March 25.
20 March 2007 [10:03]

Nation's gross incomes advance 33% in Jan-Feb

During the period of January and February, Azerbaijani population’s pre-tax earnings rose 33%, year-on-year, to AZN 1,825.7mln.
20 March 2007 [10:02]

Bank savings soar 63% in Azerbaijan

As of February 1, the savings put with Azeri banks by people amounted to AZN 805.4mln, up 63% from the same period last year.
20 March 2007 [09:55]

Azerbaijan enjoys 4.4% agricultural growth

As of March 1, despite unfavorable weather 30,800 hectares have been planted for spring sowing in Azerbaijan, up 10.3% from a year earlier.
20 March 2007 [09:54]

Gas supply to defaulters not to be cut off on holidays

Gas supply to the debtor defaulting customers will not be cut off in Azerbaijan during the nonworking days for Novruz.
20 March 2007 [09:52]

World Bank health mission to visit Baku

The World Bank Senior Public Health Specialist Enis Baris will lead a health mission to Azerbaijan on March 26.
19 March 2007 [22:58]

Trades at BICEX, March 19

The weighted average exchange prices made up 0,8675 AZN for 1 US dollar in the Baku Interbank Currency Exchange on March 19.
19 March 2007 [22:49]

Matthew Bryza comments on Mammadyarov-Rice memorandum

"MoU on Energy Cooperation to be signed between Azerbaijan's Foreign Minister Elmar Mammadyarov and Secretary of State Condoleezza Rice on March 22 supports construction of 'new generation' pipelines for transporting energy resources, especially natural gas of the region to Europe," said Deputy Assistant Secretary of State Matthew Bryza.
19 March 2007 [17:42]

Ganja Auto Plant to assemble MAZ trucks

Belarus ambassador to Azerbaijan Nikolay Patskevich visited Ganja Auto Plant and concerned himself with the production lines of the plant.
19 March 2007 [17:35]

Azerbaijan's Jan-Feb GDP grew 41.7%

Azerbaijan's GDP grew 41.7%, or AZN 950mln, year on year, in January and February, to AZN 3,273mln.
19 March 2007 [16:55]

Azerbaijan to complete transition to electronic telephone exchange next year

Azerbaijan intends to complete full transition to electronic telephone switch system by the end of 2008, said Communications and Information Technologies Minister Ali Abbasov, adding that the process is currently 72% complete.
19 March 2007 [16:40]

Turkish opposition demands investigating financial sources of Turkish educational institutions abroad

Turkey's main opposition CHP party prepared a report on some private educational institutions operating in different parts of the world through financial support from Turkey.
19 March 2007 [15:56]

Auto imports to Azerbaijan fell 25% due to excise tax

The number of automobile imports to Azerbaijan has started to decline since the excise tax on imports effective January 1.
19 March 2007 [15:51]

Azerbaijan to explore prospective fields

State Oil Company intends to carry out exploration works in some fields.
19 March 2007 [14:57]

Azerbaijan to dismantle old offshore platforms

State Oil Company (SOCAR) intends to dismantle old offshore platforms.
19 March 2007 [14:50]

President Aliyev attends opening of new intersections

President Ilham Aliyev attend the opening of different intersections constructed in "20 January" circle in the crossroad of Tbilisi avenue and Hasan Zardabi street in the capital Baku.
19 March 2007 [14:34]

Gas-OPEC to come on stream in April

The biggest gas exporting nations will come together in Doha 0n April 9 to roll out a so-called gas-OPEC -gas exporting countries organization, after reaching a final agreement a week earlier.
19 March 2007 [14:25]

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, was held today.
19 March 2007 [12:07]

Azeri, Iranian, Russian railroaders to meet in April

In April Azerbaijani, Iranian and Russian railroaders will have a trilateral meeting on North-South Transport Corridor in Baku.
19 March 2007 [11:19]

Moscow Attempts to Win More Cooperating Attitude of Kazakhstan

For Kazakhstan's President Nursultan Nazarbaev, the current two-day visit to Russia won't be easy.
19 March 2007 [09:25]

Armenia-Iran gas pipeline to open

Iranian President Mahmoud Ahmadinejad and his Armenian counterpart will formally open the first stretch of a natural gas pipeline Monday in Armenia, that relies on Russia for most of its gas.
17 March 2007 [16:14]

Road Bridge in 20 Yanavar Circle to be commissioned March 19

Official opening ceremony of a road bridge in the 20 Yanvar Circle and a tunnel in Shamakhinka will be held on March 19.
17 March 2007 [16:12]

Houses and graveyards on metro line to be demolished down, Tagi Ahmadov says

The houses, buildings or graveyards located on the project line of the Baku metro will be demolished, said Baku Metro Chief Tagi Ahmadov.
17 March 2007 [10:59]

U.S. pushes for more Shah Deniz gas to Georgia

The amount of Shah Deniz gas Georgia is importing should be increased.
17 March 2007 [10:58]

Azercell inks roaming deal with operators of Israel and Canada

Azerbaijan's leading mobile operator Azercell Telecom has concluded GPRS/MMS roaming agreements with two operators of Israel-Partner and Celcom and two operators of Canada-Rogers and Fido.
17 March 2007 [10:57]

Baku to host real estate cadastre seminar

A international seminar on real estate cadastre and registry will be held in Baku by this year's end.
17 March 2007 [10:56]

Amrah Sigorta to raise its authorized capital 12.5%

Azerbaijan's Amrah Sigorta Insurance Company intends to raise its nominal capital by 12.5% by this year's end.
17 March 2007 [10:54]

Azer-Asia Insurance JV to be OJSC in March

Azerbaijan-Iran joint venture Azer-Asia intends to shift its legal status to Open Joint Stock Company by the end of March.
17 March 2007 [10:53]

AGBank to open Yevlakh branch

AGBank intends to open a branch in Yevlakh in July.
17 March 2007 [10:52]

Azerbaijan announces contest for high-voltage power line construction

Azerenergy has announced a competition for the construction of high voltage power line between Imishli and Azerbaijan Thermal Power Plant.
17 March 2007 [10:50]

Azerbaijan's budget formed 82% from taxes and customs last year

During 2006, the national budget of Azerbaijan was formed 69% from taxes and 13.3% from customs and 1.7% from extrabudgetary revenues, the country's Prime Minister Artur Rasizade told the parliament in an annual government report.
17 March 2007 [10:41]

AtaBank expands term deposit portfolio 98%

AtaBank increased its term-deposit portfolio 98%, year-on-year, to AZN 39,462,300, as of March 1.
17 March 2007 [10:40]

Azerbaijan wants to cooperate with Transtelecom

Azerbaijan's Transport and Communications and Information Technologies Ministries show great interest in cooperation with Russia's Transtelecom.
17 March 2007 [10:38]

SOCAR wants to buy Russian-made oil equipment

Azerbaijan State Oil Company (SOCAR) intends to buy Russian-made oil equipment.
17 March 2007 [10:19]

CIS Tourism Council to meet in Moscow

CIS Tourism Council's meeting will be held in the Russian capital, Moscow on March 19.
17 March 2007 [00:19]

CIS to weigh new transit route for Caspian oil

A working group set up to coordinate a draft CIS Head-of-State Council resolution to facilitate transportation and guaranteed supply of hydrocarbons to the commonwealth's member states will hold a meeting in Moscow on March 21-22.
17 March 2007 [00:14]

Azerbaijan negotiating with foreign countries on construction of dockyard

Azerbaijan's Caspian Shipping Company is negotiating with the relevant bodies of the foreign countries on construction of a shipyard around Baku.
16 March 2007 [23:53]

Georgia to receive Shah Deniz gas as from March 17

Georgia will be receiving Shah Deniz Gas via Baku-Tbilisi-Erzurum pipeline from Saturday.
16 March 2007 [23:52]

No detainees for building collapse in Baku

Criminal case has been launched on collapse of the upper part of an under-construction 21-storey building at the intersection of Nizami and Fikret Amirov streets (behind British embassy) in Baku.
16 March 2007 [17:24]

Azeri foreign debt reaches USD 2 billion

According to the Azeri Finance Minister, at the end of 2006 the country's foreign debt totalled USD 1.9 billion, which equals USD 232.5 per capita.
16 March 2007 [17:20]

Parliament hears government's annual report

Azerbaijan's Prime Minister Artur Rasizade made an annual report at the parliament, saying that a total of US $6 billion was invested in the economy during last year.
16 March 2007 [17:19]

Inflation rate 8.3% in Azerbaijan last year

Despite inflation pressures, the Azerbaijani Government achieved to keep inflation rate in 8.3% in 2006, Prime Minister Artur Rasizadeh said when presenting the government's annual report to the Parliament.
16 March 2007 [17:18]

Telephone bills paid through ATMs in Baku

Baku Telephone-Communication Unit customers can pay the bills through ATMs.
16 March 2007 [17:17]

Russia is too late to lay pipeline like BTC, Azeri top energy official says

Russia's initiative to build a pipeline alternative Baku-Tbilisi-Ceyhan will not affect the BTC project, said Azerbaijan's Industry and Energy Minister Natig Aliyev.
16 March 2007 [17:15]

Turkmen gas may bypass Russia

There is an increasing possibility that Turkmen hydrocarbons may reach Europe bypassing Russia.
16 March 2007 [15:44]

OPEC left output at 25.8m barrels per day

The oil ministers of the Organization of Petrolem Exporting Countries (OPEC), meeting here at their 144th regular session, reached the agreement to maintain the present production quota at 25.8 million barrels per day after intensive consultations that preceded the closed-door regular meeting.
16 March 2007 [14:55]

Azerbaijan Internet Forum suggests fighting mobile phone theft

Azerbaijan Internet Forum has submitted a package of proposals to the parliament, prime minister, communication and information technologies minister and interior minister to improve the legislation for cell-phone services and operator-customer relation.
16 March 2007 [08:52]

Azeri Field spent $6.49m up to now

The development of Azeri Field in the Azerbaijan's sector of the Caspian has to date spent $6.49 million.
16 March 2007 [08:50]

Standard Insurance sign 58 mortgage deals

Azerbaijan’s Standard Insurance has to date signed 58 mortgage insurance agreements within the scope of the mortgage lending in the country through funding by Azerbaijan Mortgage Fund.
16 March 2007 [08:49]

Real estate appreciates 25% in Baku

The price of the immovable property climbed 25% on average in Baku during 2006.
16 March 2007 [08:48]

IFC, BP, AMFB to finance service companies in Azerbaijan

The IFC, Azerbaijan Microfinance Bank and BP-Azerbaijan intend to sign an agreement to provide funding to service companies engaged in oil sector.
16 March 2007 [08:45]

Life Along The Pipeline: BTC's Impact On Azerbaijan

As part of its ongoing coverage of energy issues in the South Caucasus, EurasiaNet is providing an illustrated overview of how the Baku-Tbilisi-Ceyhan oil pipeline has affected the lives of residents in its three host countries: Azerbaijan, Georgia and Turkey.
16 March 2007 [08:18]

Azneft Director General fired

Azneft Production Unit Director General Shahin Ismayilov has been dismissed.
16 March 2007 [08:17]

AIOC ups oil production 79%

Azerbaijan International Operating Company (AIOC) produced a total of 5,341m tons of oil from Azeri-Chirag-Guneshli field during the period of January February, up 2.371m tons or 79.3% from a year earlier.
16 March 2007 [08:15]

STEP Phase 3 to be complete in June

The Sangachal Terminal Expansion Programme (STEP)-Phase 3 main construction works are progressing well and are currently 88% complete, said the Project Manager Norman Ingram.
16 March 2007 [07:55]

Jose Luis Herrero Ansola: "Oil revenues can be directed to development of other sectors"

"Petrodollars create opportunities for Azerbaijan that a lot of countries do not have.
15 March 2007 [23:04]

President Aliyev approves SOCAR & RussNeft PSA

Azerbaijan President Ilham Aliyev has issued an executive order on approval of the PSA between SOCAR, SOCAR Joint Company and RussNeft on the development and restoration of the Zigh and Hovsan onshore oilfield.
15 March 2007 [23:03]

Autostar Caucasus displays Mercedes in Autoshow Azerbaijan

Autostar Caucasus, dealing with the selling and service of Mercedes-Benz, Chrysler and Jeep in Azerbaijan, displays C-280 and CL-500 models of Mercedes on the Fourth Azerbaijan International Automotive Exhibition-AutoShow Azerbaijan-2007.
15 March 2007 [23:00]

Man detained for causing public panic in Baku

A man deceiving people claiming that a description of the Prophet Muhammad (s) appeared on the pavement has been detained near Neftchiler metro station by Nizami district policemen.
15 March 2007 [22:51]

Illegal buildings not to be included into Real Estate Registry in Azerbaijan, top officer warns

"The buildings constructed without the relevant project of the country will not be included into the state registry," warned Arif Garashov, Chairman of the State Real Estate Registry Service.
15 March 2007 [22:48]

IFC, Rabitabank ink $2m loan deal

IFC and Rabitabank have signed an agreement to open a $2 million credit line for the bank on-lending to small, medium-size and micro enterprise.
15 March 2007 [17:42]

First group of ten buses delivered to Baku

Nihad Motors has already imported 10 buses for in-city public transportation in Baku.
15 March 2007 [16:40]

World Bank to extend $25m to Azerbaijan Real Estate Registry Project

Azerbaijan Real Estate Registry Project is expected to be approved by the World Bank Board of Directors.
15 March 2007 [15:56]

ACDI/VOCA and Azerbaijan Real Estate Registry Service ink MOU

On March 15, USAID's SME Support through Financial Sector Development Project implemented by ACDI/VOCA signed a Memorandum of Understanding with the Azerbaijan State Real Estate Registry Service.
15 March 2007 [14:41]

Azerbaijan reversed ban on import of some products from Turkey and Moscow

The State Veterinary Service under Agriculture Ministry has partly reversed the ban on import of some products, except eggs and feed, which are under veterinary control, from Turkey and Moscow, State Veterinary Service press secretary Yolchu Khanveli told.
15 March 2007 [14:21]

Azerbaijan's Jan-Feb oil exports 4.815m tons

During the period of January-February Azerbaijan exported a total of 4.815m metric tons of oil, up 2.134m tons or 79.6% from a year earlier.
15 March 2007 [10:07]

AzAL selects GE engines for its latest B-787s 'Dreamliner'

Azerbaijan Airlines selected the GEnx to power the three 787-8s it ordered last month.
15 March 2007 [09:19]

Oil prices rise to hover at mid-US$58 a barrel ahead of OPEC meeting

Oil prices gained Thursday on figures showing that supplies of U.S. gasoline and other refined products fell in the most recent week, and ahead of an OPEC meeting later in the day.
15 March 2007 [09:11]

Putin in Greece for oil pipeline deal, amid U.S. fears of Russian energy dominance

Russian President Vladimir Putin will attend a signing ceremony Thursday for a deal to build a Russian oil pipeline to a port in northern Greece - following strong pressure from Moscow to conclude decade-long negotiations.
15 March 2007 [09:06]

Binagadi Oil increases oil output 30%

Binagadi Oil, dealing with development of the Binagadi oilfields onshore Azerbaijan, produced 9,400 tons of oil during January, up 30.2% from a year earlier.
15 March 2007 [09:05]

Shirvan Oil slashes oil output 1.8%

Shirvan Oil Operating Company, dealing with development of Kurovdagh Field onshore Azerbaijan, produced 18,900 cubic meters of natural oil during January, down 1.8% from a year earlier.
15 March 2007 [09:04]

Azerbaijan Mortgage Fund announces competition for supply of its building

Azerbaijan Mortgage Fund has announced a contest for the supply of its administrative building with security system, computers and relevant software, computer network, furniture, switchboard, jalousie, repair and a generator.
15 March 2007 [09:02]

National bank announces contest to apply COBIT 4.0

The National Bank of Azerbaijan has announced a competition to COBIT 4.0 (Control Objectives for Information and related Technology).
15 March 2007 [09:01]

US Supports Development of Real Estate Registry System in Azerbaijan

March 15, 2007 USAID SME Support through Financial Sector Development Project implemented by ACDI/VOCA will sign a Memorandum of Understanding with the Azerbaijan State Real Estate Registry Service.
15 March 2007 [08:51]

Legal procedure on two Barmek officials' appeals held

The legal procedure on the appeals of two former officials of Barmek-Azerbaijan Electricity Distribution LLC was held on Wednesday.