Business

03 March 2006 [11:37]

Banks to be merged

The commercial banks of Azerbaijan must increase their capitals.
03 March 2006 [11:26]

Ferry terminal reconstruction to be finished soon

"The Baku international commercial port intends to accomplish the first stage of the ferry terminal rehabilitation in the shortest time," stated Transport Minister Ziya Mammadov has said.
03 March 2006 [11:22]

Baku Telephone Communications plans to render IP-TV services

The enterprise is currently designing the system.
03 March 2006 [10:53]

Azerbaijan to refuse credits of international organizations

The government of Azerbaijan will refuse credits of international organizations delaying negotiations on road infrastructure funding.
03 March 2006 [10:00]

Azerbaijan, RusAl set to talk aluminum plant

"Azerbaijan is studying a proposal from Russian metals giant RusAl to open an aluminum plant in the Caucasus republic," the country's economics minister said Thursday.
03 March 2006 [09:46]

New $10 note being issued

The US Federal Reserve System has issued new $10 notes from today. The banknote is green with shades of orange, yellow and red. The portrait of Alexander Hamilton, the nation's first Treasury secretary, is still on it, and the Treasury building on the other side.
03 March 2006 [09:29]

Azercell equalizes prices of MMS to SMS standard

From March 1 to April 30, the Joint Venture Azercell Telecom equalizes prices for MultiMesajCELL (MMS) service to prices for standard SMS.
03 March 2006 [09:09]

Azpetrol: "Farhad Aliyev never had any commercial interest in the Azpetrol Holding"

The former Minister of Economic Development Farhad Aliyev does not have and never did any commercial interest in Azpetrol Group of Companies. This statement was issued today by Azpetrol International Holding B.V. headquartered in Holland.
03 March 2006 [08:30]

CB to provide "Bistraya Pochta" money transfer system

Baku Commercial Bank (CB) joined "Bistraya Pochta" money transfer system and will start providing services March 6.
02 March 2006 [17:44]

Trades at BICEX

The weighted average exchange prices made up 0,9128 AZN for 1 US dollar in the Baku Interbank Currency Exchange on March 2.
02 March 2006 [17:20]

Heydar Babayev: "Targol Investment sold its shares of Azerboru JSC"

Mr. Babayev did not name the company, purchased the shares of the Targol Investment.
02 March 2006 [16:45]

Transport Ministry launched licensing cars and lorries

Ministry of Transport began distribution of licenses and distinguishing marks to passenger cars and lorries beginning March 1.
02 March 2006 [16:01]

Heydar Babayev: "Government considers proposals by broiler factories on privileges in regard to bird flu"

The Azerbaijani government considers the proposals by the local broiler factories on giving priveleges in relation to bird flu.
02 March 2006 [15:19]

Vneshtorgbank buys bank in Azerbaijan

Vnehstorgbank coordinated possible purchasing of a bank in Azerbaijan or opening the branch in the country, the president and the board chairman Andrey Kostin has said during the news conference.
02 March 2006 [10:44]

Huseyn Arabul: "Information given by the Azerenergy management about Barmek is false"

"Information that the Head of State was given by the management of "Azerenergy" OJSC about Barmek is false. I absolutely protest accusations to our address".
02 March 2006 [10:09]

278.724 thousand tons of crude oil and oil products exported last month

278.724 thousand tons of crude oil and oil products were exported from the country in February and 471.921 thousand tons in January-February this year.
02 March 2006 [10:06]

Syndicate of TEPSCO and Enprima companies won tender of the Shimal Power Plant

Syndicate of the TEPSCO (Japan) and Enprima (Finland) consulting companies won a competition technical adviser on construction of a 400 megawatt second combined-cycle plant (CCP) in the Shimal Power Plant.
02 March 2006 [09:55]

CAA to inspect National Academy of Sciences and Ministry of Agriculture

The Chamber of Accounts of Azerbaijan (CAA) will conduct inspections on state budget expenditures in the National Academy of Sciences and institutions of the Ministry of Agriculture this year.
02 March 2006 [09:20]

Card system introduced in Metro

Non-cash payment system is introduced in the Baku Metro starting from yesterday.
02 March 2006 [08:58]

Mortgage Fund announces reception of appeals

Citizens wishing to obtain mortgage loans can apply to authorized credit organizations from yesterday.
01 March 2006 [14:52]

WB supports irrigation and drainage infrastructure

On Tuesday the World Bank (WB) approved additional financing for the Azerbaijan Rehabilitation and Completion of Irrigation and Drainage Infrastructure Project (RIDIP) in the amount of $5 million equivalent.
01 March 2006 [13:13]

Government terminated the agreement with "Fondel"

Azerbaijan Government terminated the agreement signed with the Holland Company "Fondel", leased Azeraluminium joint-stock company for 25 years, informed the principal office of "Fondel".
01 March 2006 [12:48]

China Southern Airlines launch Urumqi-Baku air route

The China Southern Airlines Company Ltd. is launching a direct flight between Urumqi and Baku.
01 March 2006 [12:46]

Third Airbus to arrive in Baku till late April

The AZAL State Concern will receive the third aircraft in March-April this year.
01 March 2006 [12:33]

Mardakan and Siyazan Broiler continue their activities

State Veterinary Service Deputy Chief Emin Shahbazov told that discovery of Bird flu in Gilezi Poultry farm can not cause stop of production.
01 March 2006 [11:45]

President signed order on State City Construction and Architecture Committee

President Ilham Aliyev has signed an order to establish State City Construction and Architecture Committee.
01 March 2006 [11:24]

AEC conducts roundtables in regions

The National Confederation of the Entrepreneurs (Employers') Organizations of Azerbaijan Republic (AEC) has started implementation of the project "Improvement of productivity and competitiveness in Azerbaijan" with the support of the International Labor Organization.
01 March 2006 [10:52]

Structural changes in Economic Development Ministry to be conducted

A draft of new regulations of the Ministry of Economic Development (MED) was submitted to the President's Office for approval.
01 March 2006 [10:44]

Official representation of ATIS to be held soon

The Ministry of Taxes completed work on the Automated Taxes Information System (ATIS).
01 March 2006 [10:28]

Local workers of McDermott to hold gathering

Chairman of Trade Union Azerbaijani Workers Zakeriyye Rahimov told that Azerbaijani workers of McDermott will hold gathering on March 4.
01 March 2006 [10:22]

Passenger flights from Nakhchivan to Ankara and Dubai to be opened

The Azerbaijan Air Lines State Concern holds negotiations with Turkey and UAE on opening of passenger flights from Nakhchivan to Ankara and Dubai.
01 March 2006 [10:14]

Chamber of Accounts to audit SSPF and State Oil Fund

Pursuant to the 2006 work plan, the Chamber of Accounts of Azerbaijan (CAA) plans to conduct four audit and two analytical inspections in the State Social Protection Fund (SSPF).
01 March 2006 [09:57]

Microsoft representation in Baku opened

Yesterday Microsoft Corporation held the opening ceremony of its first official representation in Azerbaijan.
01 March 2006 [09:39]

IMF's mission came to Baku

The International Monetary Fund's technical assistance mission led by the senior economist of the IMF Statistical Department Michael Silver is in their visit to Baku.
01 March 2006 [09:04]

Azerenergy can not manage local executive authorities

"Local executive authorities and municipalities illegally sell lands in guard bands of high-voltage transmission lines in all regions of the republic. Azerenergy can not manage local authorities in this issue", the vice-president of the Azerenergy Open Joint-Stock Company (OJSC) Marlen Asgarov stated.
28 February 2006 [17:40]

Iran Air wants to increase Tehran-Baku route flight frequency

Iran Air applied to the AZAL State Concern over the flight frequency increase on the Tehran-Baku route.
28 February 2006 [17:31]

Japan is interested in co-op with Azerbaijan in non-oil sector

"Cooperation with Azerbaijan in the non-oil sector will become a priority sector for Japanese government in the bilateral relationship," Tadahiro Abe, the Japanese Ambassador to Azerbaijan, told journalists on Tuesday.
28 February 2006 [14:58]

Turkmenistan demands $56m from Azerbaijan

National Bank of Turkmenistan called on Azerbaijani government to resume talks on settlement of question on debt of Azerbaijan to the country.
28 February 2006 [11:31]

International Bank to bring 5 thousand POS machines in March

Clients of the International Bank of Azerbaijan (IBA) will be able to use microchip-cards of the Bank in Metro stations as well.
28 February 2006 [11:08]

Azerbaijan-Switzerland investment conference to be held in Zurich

A conference on investment opportunities in our republic will be held in Zurich city of Switzerland on March 9 with participation the Ministry of Economic Development (MED) of Azerbaijan and other state authorities.
28 February 2006 [10:53]

Forum in Tokyo to be held on March 8

Forum with participation of Azerbaijani businessmen will be held in the capital of Japan, Tokyo on March 8.
28 February 2006 [10:20]

Ali Abbasov at COMSTECH XII General Assembly

The Minister of Communication and Information Technologies Ali Abbasov attended the meeting of the XII General Assembly of the Standing Committee on Scientific and Technological Cooperation of the Islamic Conference Organization (COMSTECH) held in Islamabad on February 21-24.
28 February 2006 [09:26]

Memorandum on power supply systems of Azerbaijan and Russia signed

The Azerenergy Open Joint-Stock Company (OJSC) signed a memorandum with the RAO EES Company of Russia on parallel operation of the power supply systems of the two countries.
28 February 2006 [09:19]

Preliminary work on Sheki module power plant is over

Construction of the Sheki module power plant is intensively implemented.
27 February 2006 [16:54]

60 companies from 15 countries to participate in AutoShow 2006

More than 60 companies from 15 countries will represent products at the 3rd international automobile exhibition AutoShow-2006, according to Iteca Caspian LLC, an organizer of the show.
27 February 2006 [16:26]

Azerbaijan, Russia and Kazakhstan to carry out work on Caspian ecology

The visit of the Russia's Accounts Chamber staff head Sergey Shahray to Baku is scheduled.
27 February 2006 [12:49]

SOCAR exports 193,197 tons of crude and oil products since January

State Oil Company of Azerbaijan Republic (SOCAR) has dispatched 193 thousand 197 tons of crude and oil products from Baku since January.
27 February 2006 [12:27]

Asian Development Bank is interested in development Azerbaijan's banking system

The Asian Development Bank (ADB) is interested to participate in formation of the capital of banking organizations operating in our country. However, the Bank must implement certain investigations for this purpose.
27 February 2006 [12:21]

Special state program for insurance development

The World Bank has granted Azerbaijan with $323,000 for the improvement of the legislation in the sphere of insurance.
25 February 2006 [20:11]

Kazakhstan oil can be pumped through BTC in 2010

Some technical and juridical issues were not yet coordinated.
25 February 2006 [10:19]

Imishli Sugar Mill to be opened these days

Opening ceremony of "Imishli Sugar Mill" is planned to be held these days.
25 February 2006 [10:06]

Purchasing 2 billion cubic metres of gas from Iran is possible

Azerbaijan's technical capability allows the country to purchase up to 2 billion cubic metres of natural gas from Iran every year.
25 February 2006 [09:55]

New metro lines to Sumgait and airport

The length of the surface Baku-Sumgait line to be 26 kilometers.
25 February 2006 [09:43]

Gas fees decreased to 48.9% in 2005

The Head of the Azerigas Close Joint-Stock Company (CJSC) Alikhan Malikov held a press-conference on the last year results and work to be implemented in 2006.
25 February 2006 [09:11]

First power unit of Nakhchivan Gas-Turbine Power Plant tested

Reconstruction of the first power unit of the Nakhchivan Gas-Turbine Power Plant has been completed and the unit is currently being tested.
25 February 2006 [09:06]

Microchip metro cards to be sold from March 1

Microchip cards will be sold in all offices of the Baku Metro starting from March 1.
25 February 2006 [08:59]

Bank Standard issues registered deposit certificates

Deposit certificates of the Bank Standard Commercial Bank (CB) were registered by the State Committee for Securities.
24 February 2006 [18:16]

Abbas Abbasov: "Government to assist broiler enterprises"

Government may cover the losses of broiler enterprises.
24 February 2006 [17:55]

Azerigas to build Sangachal-Garadagh-Hajigabul pipeline

The budget of the project in construction of the high pressure gas pipelines is $45m.
24 February 2006 [16:48]

Azerigas to cease gas supply to consumers in debt

In 2005 Azerigas joint-stock company spent around 100 bn manats on major construction and repair work and constructed 180km-long gas pipelines, Alikhan Malikov, the head of the Azerigas, stated to a news conference on February 24.
24 February 2006 [11:25]

Azersu holds tender

The Azersu Joint-Stock Company announced a tender on construction and rehabilitation of water supply and sewerage systems of the cities and regions of the republic in 2006.
24 February 2006 [11:18]

New metro station to be put into operation in September, 2008

One more station of "Memar Ajami-Dernegul" metro line will be put into operation in September, 2008.
24 February 2006 [11:10]

State Committee for State Property Management established a Hot Line

State Committee for State Property Management(SCSPM)put its homepage and Hot line into operation.
24 February 2006 [11:04]

Street trade being abolished in Zagatala

Executive Power, Hygiene and Epidemiology Center and Police Office are fighting against physical people who are engaged in illegal trade in the streets.
24 February 2006 [11:01]

Roundtable under "Year of Russia in Azerbaijan"

Roundtables under "Year of Russia in Azerbaijan" with participation of representatives of both countries were held at the Baku Business Centre yesterday.
24 February 2006 [10:28]

Energy security in GUAM framework will be discussed

Energy security issues in GUAM framework will be discussed in Baku.
24 February 2006 [10:20]

Etibar Pirverdiyev: "No negotiations on reduction the price of Russian electricity held"

"The Azerbaijani party is not conducting any negotiations on reduction of the price of electricity imported from Russia. The reason of it is price increase of energy carriers in the world market".
24 February 2006 [09:39]

Head of Accounts Chamber to visit Kuwait

Delegation led by the Chair of the Accounts Chamber Namig Nasrullayev will visit Kuwait on March 4-7.
24 February 2006 [09:13]

UK Senior auditor to visit Baku early in April

A delegation led by the senior auditor of the National Audit Office of Great Britain John Born is expected to visit Azerbaijan within the first ten-day period of April.
24 February 2006 [08:55]

Volume of ERBD funds reached $770 mln

The European Bank for Reconstruction and Development (EBRD), that works with Azerbaijan since 1992, has allocated $770 million.
23 February 2006 [11:38]

Head of Microsoft Baku office appointed

Vladimir Chaikovski will become a general manager of the Baku representative office of the Microsoft corporation.
23 February 2006 [11:02]

Georgia has to repay electricity debt only for 1997-1998

The Georgian party has completely repaid electricity received from Azerbaijan during energy crisis happened in Georgia on January 22.
23 February 2006 [10:57]

EBRD held presentation of its annual report

Today the Baku Office of the European Bank for Reconstruction and Development (EBRD) held presentation of the new publication of the annual "Transition report – 2005" on economic development and reforms implemented in Central, Eastern European and CIS countries.
23 February 2006 [10:32]

Compensation for legal buildings to be paid according to market prices

Special commission to conduct inventory of buildings to be pulled down pursuant for construction of new motor roads.
23 February 2006 [09:52]

Heydar Babayev: "Russian companies mainly interested in non-oil sector"

The Minister of Economic Development Heydar Babayev told journalists that Russian companies were mainly interested in the non-oil sector and some proposals had already been presented in this connection.