Business

16 August 2006 [13:17]

Iran may deliver oil and gas to world market via Azerbaijan

Technical efficiency of delivery of Iranian oil through Baku-Tbilisi-Ceyhan (BTC) pipeline may be considered in near future, Iranian ambassador to Azerbaijan, Afshar Suleymani said.
16 August 2006 [09:04]

Austria and Azerbaijan negotiate to develop tourism ties

Austria and Azerbaijan are having negotiations to develop relations in tourism sector, Fuad Ismayilov, Extraordinary and Plenipotentiary Ambassador to Austria stated.
16 August 2006 [08:38]

Schedule of T-bills issue changed

Some changes were made to the schedule of issue of T-bills by Ministry of Finance of the Azerbaijan Republic in 2006.
16 August 2006 [08:29]

Aggregate assets of banks rose by 52% in Azerbaijan

As of July 1, the aggregate assets of banks reached AZN 2 806.5mn which represents a 52% rise on the same month last year.
15 August 2006 [22:21]

Natig Aliyev: "Number of Russian oil companies are keen on BTC"

Oil production will hit 50mn tonnes per day in 2008 in Azerbaijan. The production will be 30.5 mn tonnes this year and it will reach 47 mn tonnes next year, Natig Aliyev, Industry and Energy Minister, said.
15 August 2006 [22:02]

Azerbaijani economy grew by 35.1% during January-July

Gross Domestic Product constituted AZN 8 803.5mn during January-July and this figure represents a 35.1% increase on the same period last year.
15 August 2006 [21:15]

Iran, Georgia review expansion of economic cooperation

Iran's Deputy Foreign Minister for Asia-Pacific affairs Mehdi Safari conferred in Tbilisi on Tuesday with Georgian Prime Minister Zurab Noghaideli on issues of mutual interests.
15 August 2006 [20:39]

Putin, Kocharian: "Russian-Armenian trade turnover growing"

The Russian and Armenian presidents agreed that trade between the two countries is growing and expressed their hope for good prospects in bilateral relations.
15 August 2006 [14:42]

Azerbaijan imports 10.7 m cu m of gas per day from Russia

SOCAR is currently importing about 10.7 million cubic meters of gas per day average from Russian gas company Gazeksport.
15 August 2006 [14:36]

Azerbiajn, Germany sign agreement to cooperate in creating Samur-Yalama national park

Azerbaijan's Finance Minister Samir Sharifov and German Ambassador to Baku Per Christopher Stanchina signed August 14 an agreement on financial cooperation in creating the Samur-Yalama national park in Azerbaijan.
15 August 2006 [13:35]

IBA signs loan agreement with Dutch Rabobank

International Bank of Azerbaijan (IBA) has signed a loan agreement amounting to 7.28mn EUR with Rabobank of Netherlands.
15 August 2006 [09:06]

Deals of $2.005mn concluded at BICEX August 14

The weighted average exchange price made up 0.8858 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange yesterday.
15 August 2006 [09:03]

Taxes Ministry found irregularities in 316 trade facilities in Sumgait and Apsheron

Taxes Ministry Operational Control Department continued examination of cash payment and submittal of receipts to clients on August 12 in Sumgait and Apsheron district.
15 August 2006 [09:00]

Auction on placement of T-bills to be held at BSE

Auction on placement of T-bills of Finance Ministry will be held at Baku Stock Exchange August 15.
15 August 2006 [08:52]

Taxes Ministry found irregularities in 11 524 trade facilities

Taxes Ministry Operational Control Department have to date examined 40 865 various kinds of trade facilities and found serious irregularities in 11 524 of them.
15 August 2006 [08:35]

VAT registration annulled in 4343 enterprises in Azerbaijan

VAT registration has to date been annulled in 4343 enterprises in Azerbaijan since early year.
14 August 2006 [19:32]

Caspian Shipping Company negotiates with Russian Federal Agency for River and Sea Transport

Azerbaijani Caspian Sea Shipping Company negotiates with Russian Federal Agency for River and Sea Transport on permanent transit through Russian inland waters, ACSSC chairman Aydin Bashirov told journalists.
14 August 2006 [14:53]

Baku-Ceyhan pipeline faces corrosion threat

The Baku-Ceyhan oil pipeline is facing the threat of corrosion, which could bring about an ecological catastrophe in Georgia, Azerbaijan and Turkey, the Platform international ecological organisation has announced.
14 August 2006 [13:44]

Moscow Hotel up for privatisation

Azerbaijan's State Property Committee has announced an investment contest for the equity of the Moscow Hotel.
14 August 2006 [11:59]

UTair opens new flights to Baku

Russia's UTair Aviation wiil launch its first flights to Azerbaijan.
14 August 2006 [00:54]

Azeri-Georgian business forum to be held in Batumi

Georgia-Azerbaijan business forum will be held in the framework of the Georgia-Azerbaijan intergovernmental economic commission's meeting in Batumi on August 17.
14 August 2006 [00:52]

Shahdeniz project's second phase to be set

According to BP Azerbaijan, the Istiglal semi-submersible drilling rig is now spudding another appraisal well at the Shahdeniz gas field.
14 August 2006 [00:50]

BP-Azerbaijan plans to deliver 2.1 bln cu m of gaz to the state

According to press service of BP Azerbaijan, the company plans to deliver a total amount of 2.1 billion cubic meters of gas produced from the Central Azeri and West Azeri platforms to Azerbaijan until the end of this year.
13 August 2006 [14:48]

Azerbaijani businessman deprived of his land by Arkangelsk court

The land given to Azerbaijani businessman Gunduz Miiraliyev, Severodvinsk Mayor Alexander Belyayev's son-in-law caused a scandal.
13 August 2006 [02:33]

New chiefs appointed to "Bakuelectricshebeke" and "Sumgayitelectricshebeke"

Baba Rzayev has been appointed chief of "Bakuelectricshebeke" JSC and Fakhri Mammadov chief of "Sumgayitelectricshebeke" JSC, Azerbaijani Economic Development Minister Heydar Babayev told on Saturday.
13 August 2006 [02:27]

Heydar Babayev: "Barmek will be held accountable if irregularities are found out"

According to initial calculations, more than $15 million is to be invested for building electricity system of the capital Baku, Azerbaijani Economic Development Minister told journalists on Saturday.
12 August 2006 [15:04]

Azerbaijan-Georgia Intergovernmental Commission meeting's agenda announced

Azerbaijan-Georgia Intergovernmental Commission will meet in Batumi, Georgia on 16-17 August this year.
12 August 2006 [10:19]

Incomes of State Social Protection Fund rose by 16% in January-July

The incomes of the State Social protection Fund equaled AZN 322.07mln during January-July and this figure represents an AZN 44.13mln or 15.9% on the same period of last year. This shows that the income forecast was implemented by 100.9%.
12 August 2006 [10:02]

Deals of $7.44mn concluded at BICEX on August 11

The weighted average exchange price made up 0.8861 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange.
12 August 2006 [09:58]

Taxes Ministry found irregularities in 10 700 trade facilities

Taxes Ministry Operational Control Department have to date examined 37 045 various kinds of trade facilities and found serious irregularities in 10 700 of them.
12 August 2006 [09:27]

AZN 2 739 000 and US$ 59 000 allocated to Assistance Fund for Azerbaijani Armed Forces

AZN 2 739 000 and US$59 000 have been allocated to the Assistance Fund for Azerbaijani Armed Forces by 7 August, Defense Ministry press secretary, Colonel Ramiz Malikov told.
12 August 2006 [09:03]

Oil exportation through Baku-Novorossiysk pipeline will decrease by 2.5% in 2006

4 mln tonnes of Azerbaijan oil will be exported through Baku-Novorossiysk pipeline this year.
12 August 2006 [08:56]

Salyan Oil gas production falls 30% in June

Salyan Oil, which is developing Kursengi-Garabaghli field, produced 20 246 000 cubic meters of gas during January-June.
12 August 2006 [08:47]

Karasu Operating Company gas production falls by 27% in June

Karasu Operating Company, which is developing onshore Mishovdagh and Kalamaddin oilfields, produced 2 195 cubic meters of gas during January-June.
11 August 2006 [22:12]

Economic growth, strategic importance predicted for Azerbaijan with oil production increase

The coveted Caucasus nation of Azerbaijan is enjoying increased oil revenues on the back of rising prices and larger production, along with some of the political advantages that come with it.
11 August 2006 [14:34]

New technical adviser to Thermo-Power station reconstruction Project

The consortium of German 'Fichtner' and Japanese 'Tepsco' have been selected as a technical adviser to the project of reconstruction of the Azerbaijan thermo-power station in Mingachevir, press-service of the Joint Stock Company Azerenergy said.
11 August 2006 [14:17]

Khachmaz faces bread shortage

Khachmaz faced bread shortage for few hours on August 9. There was a pause in bakeries because of natural gas supply cut off.
11 August 2006 [14:13]

B&BTV to be sued

Azerbaijan's National TV and Radio Council (NTRC) appealed to the local Economic Court #1 by the claim to ban B&B cable television broadcasting in Baku.
11 August 2006 [10:00]

SOCAR paid 2.5 times more

SOCAR paid AZN 413 576 000 to the State Budget during January-July. This figure is 2.5 times rise on the same period last year.
11 August 2006 [09:50]

Trades at BICEX

The weighted average exchange price made up 0.8865 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange today.
11 August 2006 [09:42]

State Customs Committee chief receives new German Ambassador

State Customs Committee head Aydin Aliyev today received new German Ambassador Per Christopher Stanchina.
11 August 2006 [09:30]

Azerbaijan may join OIC Blue Card

After the insurance law is adopted, the Finance Ministry of Azerbaijan will determine the three-year limit of the authorized capital of insurance companies operating in Azerbaijan, Finance Minister Samir Sharifov told journalists.
11 August 2006 [08:44]

Azerbaijan and Georgia may reach agreement on state debts

Azerbaijan and Georgia are expected to reach an agreement on repayment of $16mn-state debts of Georgia to Azerbaijan.
11 August 2006 [08:30]

SOCAR will increase oil export through Baku-Novorossiysk pipeline

SOCAR intends to increase oil exportation through Baku-Novorossiysk pipeline.
11 August 2006 [08:25]

NBA: "Azerbaijani banks have no difficulty with authorized capital"

National Bank of Azerbaijan (NBA) has analyzed the reports on the authorized capital of submitted by banks and discussed the results with banks, NBA chief director Rufat Aslanli told journalists.
10 August 2006 [22:31]

Minimum salary to be raised by 50%

Azerbaijani Government is studying the reality on harmonization of minimum salary with the subsistence level, Finance Minister Samir Sharifov told journalists.
10 August 2006 [21:31]

Azercell customers are 2mln in number

Azercell telecom Joint venture invested $90.41mln in Azerbaijan during January-July of 2006 and has totally invested $495.109mln during 9.5 years, Azercell director general Halim Ateshi stated.
10 August 2006 [13:20]

Azerbaijan currency reserves hit USD 3 billion

Azerbaijani President Ilham Aliyev announced that Azerbaijan's currency reserves total USD 3 billion, a leap of USD 700 million from the beginning of 2006.
10 August 2006 [11:21]

Azerbaijan posts upsurge in foreign trade

Azerbaijan's foreign trade increased by 47.9 percent to $5bn in H1 2006, compared to the same period of 2005. Exports grew by 2.2 times to $2.9bn, while imports gained 0.9 percent rising to $2.1bn, Azerbaijan's State Statistics Committee said.
10 August 2006 [09:34]

Trades at BICEX

The weighted average exchange price made up 0.8867 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange yesterday.
10 August 2006 [09:29]

Taxes Ministry imposed monetary penalty of AZN 899 085 on 9 725 miscellaneous facilities

Taxes Ministry Operational Control Department have to date examined 32 260 various kinds of facilities and found serious irregularities in 9 725 of them.
10 August 2006 [09:20]

ChangAn Co. will assemble 1 000-1 300 automobiles per year

Automobile parts will be brought to Ganja Automobile Plant (GAP) from ChangAn Auto on August 20 to assemble cars in Azerbaijan.
10 August 2006 [09:04]

Secondary schools need 5,562 teachers

Azerbaijani secondary schools need 5562 teachers in different subjects.
10 August 2006 [08:23]

Azerbaijani building company won Moscow international competition

The winners of Moscow Competition I on the best building and designing company will be awarded.
10 August 2006 [08:12]

SOCAR Production Unit extracted 3 909 327 tonnes of oil in the first half of the year

SOCAR Oil Production Unit gave a deliberation on the results of the first part of 2006.
09 August 2006 [18:25]

Iran-Azerbaijan cooperate on water power plants

Iran and Azerbaijan have reached agreement on constructing two water power plants on the border river, Araks.
09 August 2006 [16:34]

State Post Company renders new services

Azerpocht (AzerPost) State Company of the Ministry of Communication and Information Technologies of Azerbaijan, AZAL and Spanish 'Amadeus' signed agreement on preparation of the employees engaged in booking, the Ministry said.
09 August 2006 [14:55]

UNICEF and Ministry of Economic Development hold meeting to discuss problems in white salt industry

UNICEF jointly with the Ministry of Economic Development of Azerbaijan held on August 8 a meeting to discuss ways of elimination of the problems occurred in production and sale of white salt in Azerbaijan.
09 August 2006 [14:08]

Huseyn Arabul: "I compiled the list of senior officials owing to Barmek"

"The task force set up by the Economic Development Ministry has already completed examination in Barmek. But we are unaware of the results," Barmek President Huseyn Arabul told.
09 August 2006 [13:37]

Human Rights Organizations Monitoring Group prepares new political prisoner list

The working group composed of representatives of authorities and human rights defenders will meet in September this year.
09 August 2006 [10:46]

AtaHolding to open office in Moscow

Azeri AtaHolding intends to open its office in Moscow by this year's end.
09 August 2006 [10:45]

Gas delivery forecast implemented by 94.2% in Jan-Jul

SOCAR delivered 410.53mn cubic meters of gas in July having implemented the gas delivery anticipation by 75.6%.
09 August 2006 [09:37]

Record deals at BICEX for the last 13 years

Record number of deals were concluded at trading sessions held at the Baku Interbank Currency Exchange yesterday.
09 August 2006 [09:22]

Mehmet Ali Shahin: "I was unaware of Barmek company's problem"

"During my official meetings in Baku, I did not have any discussions regarding the problems that Barmek-Azerbaijan Electricity Distribution LLC faces," Turkish State Minister Mehmet Ali Shahin told.
09 August 2006 [08:53]

Taxes Ministry pays 89% more to the State Budget

Taxes Ministry of Azerbaijan announced that the taxes collection forecast was implemented by 103.7% and the Ministry paid AZN 1 453.1 mn to the State Budget against the planned AZN 1 401.1 mn in January-July.
09 August 2006 [08:50]

Auction on placement of National Bank notes to be held August 9

Auction on placement of short-term notes of National Bank with the state registration number 50103212S will be held at Baku Stock Exchange on August 9.
08 August 2006 [21:58]

Oil exports from Azerbaijan up 65% in Jan-July

Oil exports from Azerbaijan in January-July 2006 amounted to 11.085 million tonnes, up 65.3% year-on-year.
08 August 2006 [21:42]

The case of Barmek senior officials to be investigated

The Anticorruption Department will complete the investigation of the case of Barmek senior officials in two months.
08 August 2006 [14:58]

SOCAR announced staff reshuffle

State Oil Company of Azerbaijan (SOCAR) made some changes in the staff.
08 August 2006 [09:59]

US supports financial sector development projects in Azerbaijan

Azerbaijan SME Support through Financial Sector Development Project, supported by the U. S. Agency for International Development (USAID) and implemented by ACDI/VOCA will start the implementation of its Rural Finance Training Program for Banks and Leasing Companies August 8-11.
08 August 2006 [09:35]

Azerbaijan ceased exporting mazut

SOCAR has stopped exporting mazut (black oil) from the country lately.
08 August 2006 [09:10]

T-bills of Ministry of Finance placed at BSE

Auction on placement of T-bills of Ministry of Finance with the state registration number 10202113S was held at Baku Stock Exchange.
08 August 2006 [08:53]

Program on development of railway system of Azerbaijan to be worked out at the WB initiative

The World Bank intends to finance a number of projects on development of railroad system.
08 August 2006 [08:48]

Azerbaijan negotiating with Russian Gasexport

Azerbaijani Government and Russian Gasexport are negotiating on the price and volume of natural gas to be exported to Azerbaijan next year.
08 August 2006 [08:41]

Lodges and hotels paid tax of AZN 3.994 mln

Hotels and lodges paid taxes of AZN 3.9936 mln to the State Budget during the first half of this year.