Business

04 June 2006 [17:47]

Anglo Asian Mining's encouraging results at Gedabek

Press release by Anglo Asian Mining PLC.
04 June 2006 [17:43]

Iran-Khodro exports 530 buses to Azerbaijan

A contract for exports of 530 diesel-powered buses to Azerbaijan was signed in Baku Saturday, Iran-Khodro's public relations department reported.
03 June 2006 [13:57]

Azerbaijan exported 1.356.032 ton oil to the world market

SOCAR Marketing and Economic Operation Office exported 334.058 ton oil productions to world countries in May 2006.
03 June 2006 [13:39]

China's Huawei and Communications Ministry organize seminar

Ministry of Communication and Information Technology and China's Huawei company conducted "Telecommunication Network Transformation" seminar at the Park Inn Azerbaijan hotel, June 2.
03 June 2006 [12:41]

Heydar Babayev meets Iranian Minister of Industry

Minister of Economic Development of Azerbaijan Heydar Babayev on 2 June met with the visiting delegation of the Iranian Ministry of Industry and Mines led by Minister, Dr. Alireza Tahmasebi.
03 June 2006 [12:39]

Azdemiryolbank expands its cooperation with EBRD

Azerdemiryolbank is expanding its microfinance operations with the support of the European Bank for Reconstruction and Development (EBRD).
03 June 2006 [12:15]

Azeri section of Baku-Tblisi-Erzurum natural gas pipeline ready

Work is complete on the Azeri section of Baku-Tblisi-Erzurum (BTE) natural gas pipeline, and the first test for transportation is now under way.
03 June 2006 [10:12]

Criminal case against 20 furniture workshops

20 workshops are brought an action against due to Ecology and Natural Resources Ministry application to State Prosecutor's Office. Huseyn Baghirov, Ecology and Natural Resources Minister, has told the media about.
03 June 2006 [10:09]

OJSC AtaBank becomes member of Visa International payment system

The Directorate of an international payment system Visa International has made decision about promoting the status of Open Joint Stock Company (OJSC) AtaBank from associative to full membership.
03 June 2006 [09:52]

Minimum pension in Azerbaijan to make AZN55 by 2008

It is expected that minimum level of pensions will be reached to AZN55 for 2008.
03 June 2006 [09:47]

Today BICEX currency transactions' volume totaled $3,94 mln

Pursuant to the results of the trading sessions held in the currency section of the Baku Interbank Currency Exchange (BICEX) today, USD/AZN average weighted rate was AZN 0,8982/$1.
03 June 2006 [09:13]

Co-financing loan agreement between Bank Respublika and EBRD to be signed

A loan agreement in the framework of co-financing program between Joint-Stock Bank (JSB) Bank Respublika, Azerbaijan, and The European Bank for Reconstruction and Development (EBRD) may be signed in the next month.
03 June 2006 [09:10]

Improtex Marine & Facilities importing new products to Azerbaijan

Improtex Marine & Facilities, Azerbaijan, has recently imported new products to Azerbaijan.
02 June 2006 [22:12]

BOS Shelf workers staged protest action on Friday

Trade Union Committee (TUC) of the BOS Shelf Company in Azerbaijan today organized a protest action of workers at work today.
02 June 2006 [21:57]

Turkey loads first oil from Caspian pipeline onto tanker for Western markets

The first shipment of Caspian Sea oil from a newly-built pipeline in Turkey was loaded onto a tanker destined for Western markets Friday.
02 June 2006 [12:18]

Georgia hosts conference on economic policy in South Caucasus

A two-day conference dedicated to economic policy in South Caucasian countries and the strategic role of the International Monetary Fund (IMF) starts in the National Bank of Georgia on Thursday.
02 June 2006 [09:18]

The Times: "Price cut hopes as Azerbaijan oil comes on stream"

On Friday, crude oil from Azerbaijan is being loaded on to a British vessel on the Turkish Mediterranean coast, a test cargo that inaugurates BP's $4 billion (?2.1 billion) Baku-Tbilisi-Ceyhan (BTC) pipeline, a vital piece of energy infrastructure that will deliver 1 million barrels per day of high quality oil into the Mediterranean.
02 June 2006 [08:43]

ECO Islamic countries to establish International Blue Card System

Economic Cooperation Organization (ECO) Islamic member countries intend to create International Blue Card System.
02 June 2006 [08:27]

The Black Sea Trade and Development Bank to run business days in Baku

The Black Sea Trade and Development Bank (BSTDB) will run business days in Baku June 11-12. The organizer is Azerbaijan Export and Investment Promotion Foundation (AzPromo).
02 June 2006 [08:25]

New Bank of Baku branches opened

JSCB Bank of Baku has today opened its new three branches. This action is realized in the framework of "Increasing the Quality of Services for Clients" Program.
02 June 2006 [08:23]

UN experts forecast 6,3% economic growth rate for 2006 in CIS area

UN experts have drawn out the report for 2006 on Economic trends, as well as risks and opportunities, for the economies in the Economic Commission for Europe region.
02 June 2006 [08:18]

Azerigasbank branch in Ganja opened

Joint Stock Azerigasbank had opened its branch in Ganja two days ago.
02 June 2006 [08:16]

State Social Protection Fund to distribute insurance certificates

State Social Protection Fund (SSPF) will start the process of distributing social insurance certificates for employed citizens from June, 5.
02 June 2006 [01:22]

Stratfor: "The geopolitics of Baku-Tbilisi-Ceyhan"

The Baku-Tbilisi-Ceyhan (BTC) pipeline, a year behind schedule and some 30 percent over budget, is now a reality.
01 June 2006 [19:00]

Azeri government to win Malta's bank suit

The litigation over the international row that emerged between Malta's Finbank and the Ministry of Communications and Information Technologies is about to be settled in favor of Azerbaijan, Minister Ali Abbasov has said.
01 June 2006 [18:58]

Baku oil show to pave way for 30 countries

The 13th Azerbaijan International "Oil & Gas, Refining and Petrochemicals-2005" Exhibition and Conference will start in Baku on June 6.
01 June 2006 [18:57]

BP Azerbaijan doubles local contractor spendings

BP Azerbaijan plans to double the funds it spends through local companies in the coming years to bring the amount to $500m, the company's vice-president Phil Home has said.
01 June 2006 [18:49]

South Caucasus Pipeline testing started

South Caucasus Pipeline (SCP) testing on exploitation and filling a new gas export system up beginning in Sangachal terminal has been started.
01 June 2006 [18:35]

ADB to award $52 million loan to rehabilitation of roads in Yevlakh-Ganja and Gazakh-Georgian border of Azerbaijan

Asian Development Bank (ADB) has today signed two loan agreements of $52 million total value on the Project "Improvement of East-West Transport Corridor" with Azerbaijani Government.
01 June 2006 [18:33]

Georgia offers to pay Azerbaijani debt

Georgia offered Azerbaijan to pay the debt of electricity this summer.
01 June 2006 [09:15]

FT: "Last step in Caspian oil line to Mediterranean"

The first oil to flow through the Baku-Tbilisi-Ceyhan (BTC) pipeline linking the Caspian and the Mediterranean seas will be loaded on to a tanker in the next few days.
01 June 2006 [08:43]

Azerbaijan to participate World Labor Organization session in Geneva

The World Labor Organization (WLO) will have its 95th session in Geneva June 6-10.
01 June 2006 [08:32]

Chinese D-Link to open office in Azerbaijan

D-Link Co., Chinese leading entity in information technologies sphere, intends to open the Azerbaijani office to strengthen its position in the market here.
01 June 2006 [08:28]

Opening of Iranian automobile factory in Shamakhi postponed for June 3

An automobile factory built by Iran Hodro, Iran in Shamakhi, Azerbaijan will be officially opened June 3.
01 June 2006 [08:19]

Commission to examine Barmek compliance with the contract formed

The Commission to examine Limited Liability Company Barmek-Azerbaijan Energy Network compliance with its contract was formed at Economic Development Ministry.
01 June 2006 [08:01]

Azerbaijan is to limit foreign capital in insurance market

Azerbaijani Government supports the maintenance of foreign capital limitation in local insurance market after 10 years of joining The World Trade Organization (WTO).
01 June 2006 [07:58]

Volume of currency transactions implemented in BICEX totaled $300 thousand

Pursuant to the results of the trading sessions held in the currency section of the Baku Interbank Currency Exchange (BICEX) yesterday, USD/AZN average weighted rate was AZN 0,8985/$1.
01 June 2006 [07:47]

The WB to state its opinion on Law on Insurance by July

The World Bank experts will say their opinions to Azerbaijani side after a new draft of insurance law is expertized.
31 May 2006 [23:57]

Russia, Turkey expand trade, energy ties

Russia and Turkey signed Tuesday a protocol agreement to increase bilateral trade and expand energy cooperation.
31 May 2006 [22:03]

Azeris look to Total for energy boost

Azerbaijani President Ilham Aliyev began talks with France's Total and Technip to bolster energy ties.
31 May 2006 [10:31]

Turkey to be mediator in Gazprom's struggle for South European natural gas

Turkey will undertake the principal mediator role in Gazprom's struggle for South European natural gas market.
31 May 2006 [10:17]

Azerbaijan sees role in European energy diversification

Azerbaijan plans to increase its natural gas exports to Western Europe, the country's president said Tuesday, in comments aimed at easing concern over the security of the region's energy supply and its over-reliance on Russia.
31 May 2006 [09:07]

SOCAR to fulfill budget commitments by late year

About 70 companies in Azerbaijan have been put out of the Department for Big Taxpayers registration, Taxes Ministry this year.
31 May 2006 [08:44]

Today volume of currency transactions implemented in BICEX totaled $100 thousand

Pursuant to the results of the trading sessions held in the currency section of the Baku Interbank Currency Exchange (BICEX) today, USD/AZN average weighted rate was AZN 0,8992/$1.
31 May 2006 [08:34]

Business forums expected in Baku up to the next year

Business forums including Azerbaijani, Latvian, Romanian and Finnish businessmen will be held in Baku till the end of this year.
31 May 2006 [08:01]

Auction on National Bank's AZN12 million short-term notes takes place

Baku Stock Exchange (BSE) will today host an auction on placement of Azerbaijan National Bank's short-term notes with state registration number 50102212S.
30 May 2006 [20:30]

First oil shipment to tanker will be launched after a tank is filled in Ceyhan up

Though Azerbaijani oil has reached Ceyhan and has been pumped into tanks, the shipping into tankers has not yet started for the reason that one of the tanks is empty in Ceyhan.
30 May 2006 [20:16]

Gold mine manufacturing negotiations with foreign companies

Companies from USA, Canada, Great Britain, Australia, Japan and South Korea are now being negotiated with for the processing of gold mines discovered in Azerbaijan.
30 May 2006 [20:07]

Israeli officials to attend energy conference in Azerbaijan

Israeli officials will participate in energy conferences in China and Azerbaijan in the coming weeks, the Ministry of National Infrastructures said Monday.
30 May 2006 [12:02]

President Aliyev meets with French businessmen

President of Azerbaijan Ilham Aliyev met May 29 with businessmen representing MEDEF (Movement of the French Enterprises) companies in Paris.
30 May 2006 [11:48]

Azerbaijan to discuss gas deliveries to Europe

Azerbaijan's President Ilham Aliyev says he will discuss the possibility of Azerbaijani gas deliveries to Europe when he meets with French President Jacques Chirac on May 30.
30 May 2006 [11:45]

IDB Executives Council approves USD 393.5 million finances

The Islamic Development Bank's (IDB) Executives have approved total USD 393.5 million in funds for overall projects.
30 May 2006 [09:52]

Russia's Gazprom considers new Black Sea gas pipeline to Turkey

OAO Gazprom, the world’s largest natural-gas exporter, may build a second pipeline under the Black Sea to Turkey, alongside an existing line with a capacity of 16 billion cubic meters a year.
30 May 2006 [09:03]

Oil tops $71.50 on Iran concern, ahead of OPEC

Oil prices rose toward $72 on Tuesday, as a dispute between Iran and the West over Tehran's nuclear programme rumbled on and OPEC delegates said the cartel would keep pumping at near maximum rates to soothe market fears.
30 May 2006 [08:41]

Generally military budget of world states was $1025,5 billion in 2005

Stockholm World International Researches Institute has announced the report of world states' allocation for 2005 in military field.
30 May 2006 [08:04]

Sale of "Moscow" hotel shares to employees starts

The State Committee for State Property Management (SCSPM) launched privileged sale of stocks of "Moscow" Hotel Open Joint-Stock Company (OJSC) to employees.
28 May 2006 [23:08]

Zaman: "Dream realized: Caspian oil in Ceyhan"

The Project of the Century Baku-Thbilisi-Ceyhan (BTC) Oil Pipeline experienced a pinnacle moment on Saturday.
28 May 2006 [12:28]

The Guardian: "Terror alert as Caspian oil pipeline opens"

In the foothills of the Caucasus mountains, a long line of broken mud cuts across the meadows. If you go anywhere near it, camouflaged guards carrying automatic weapons emerge from the forest beyond.
27 May 2006 [13:57]

Turkish Daily News: "Ceyhan ready to disgorge historic first shipment"

Only a few days remain for the rich hydrocarbon reserves lying underneath the cold waters of the Caspian Sea to be transported to international energy markets through the Baku-Tblisi-Ceyhan oil pipeline project, branded as 'The Project of the 21st Century'.
27 May 2006 [09:59]

The Parliament confirms law on changes and amendments to state budget

Milli Majlis has confirmed changes and amendments to Law on 2006 State Budget and Social Protection Fund Budget for 2006 in the session yesterday.
27 May 2006 [09:47]

BP presents "Best of Business" awards to 4 partners

BP announced "Best of Business" awards for partners.
26 May 2006 [21:07]

Azeri gas pumped through BTE pipeline

BP Exploration Sah Daniz Ltd. Thursday began pumping gas into the Baku-Tbilisi-Erzurum pipeline.
26 May 2006 [19:25]

BBC: "First cargo from Caspian pipeline"

The first cargo of oil from a $4bn (?2.2bn) pipeline between Azerbaijan and Turkey will be loaded onto a tanker this weekend - a year behind schedule.
26 May 2006 [19:13]

Barmek Company notified on inspection of its activity in 2002-2005

Azerbaijan's State Committee for State Property Management and Economic Development Ministry sent notification to Barmek-Azerbaijan Electricity Distribution LLC that the company’s activity in 2002-2005 will be inspected.
26 May 2006 [16:42]

Exxon buys first Azeri Light cargo from Ceyhan

U.S. oil major ExxonMobil has bought a 2.2 million barrel cargo with Azeri Light crude, the first ever being loaded at the Turkish port of Ceyhan, thus marking the launch of a huge pipeline from Azerbaijan.
26 May 2006 [15:38]

III Azerbaijan Microfinance Conference launched in Baku

Azerbaijan Microfinance Association (AMFA) has launched III Azerbaijan Microfinance Conference today in Baku, which will continue 2 days.
26 May 2006 [15:35]

Azerbaijan to be represented at the textile machinery exhibition in Istanbul

A delegation of 20 Azeri business persons are to attend the 23rd International Textile Machinery Exhibition in Istanbul from May 31 to June 4, informs National Confederation of Entrepreneurs /Employers/ Organizations of Azerbaijan.
26 May 2006 [15:21]

Technical assistance agreement between Azerbaijan and ADB on alternative energy production

The Ministry of Industry and Energetics (MIE) has signed technical assistance agreement with Asian Development Bank (ADB) with the aim of discovering energy production potential and finding new ways.
26 May 2006 [14:31]

Addax B.V. wins seventh 2006 Azeri Light tender

he Swiss company Addax B.V. has won a tender called by the State Oil Company of the Azerbaijani Republic (SOCAR) for the seventh consignment of Azeri Light crude oil produced at Azerbaijan's Azeri-Chirag-Gunashli (ACG) fields this year, a source at SOCAR told Interfax.
26 May 2006 [13:51]

No rise of Russian gas prices expected until late 2006

Russia will not push up gas prices for Azerbaijan until late 2006, president of Azerigas joint-stock company Alikhan Melikov said.
26 May 2006 [13:24]

National Bank new proposals on mortgage disbursements and term

Azerbaijan National Bank (ANB) proposes to soften mortgage conditions on preliminary disbursement and term.
26 May 2006 [13:17]

Azerbaijani military expenditures increased by $60 million

Expenditures for military industry, border guarding, and emergency situations preventing has been increased in Azerbaijan as a result of amendments to the State Budget Law 2006.
26 May 2006 [11:50]

Turkey-Greece pipeline to transmit Azeri gas by end of year

Turkey-Greece natural gas pipeline transmitting Azeri natural gas would be in operation by the end of 2006, Energy and Natural Resources Minister Hilmi Guler said on Thursday.