Business

02 November 2005 [15:04]

11-th International Exhibition "Healthcare -BIHE 2005" starts its work today

The 11-th International Exhibition «Healthcare -BIHE 2005” started on 2 November at the Heydar Aliyev Sports and Exhibition complex.
01 November 2005 [15:15]

Volume of communication services in Nakhchivan AR equals to 5728.3 millions manats

Communication establishments in the Autonomous Republic of Nakhchivan rendered services to the enterprises and organizations, as well as the population in the volume of 8189.1 millions manats for the last nine months of this year and it is 20.9% more in comparison with the corresponding period of the last year.
01 November 2005 [15:10]

3.5 millions barrels of oil are already loaded into BTC

More than 3.5 millions barrels of oil were loaded into the Baku-Tbilisi-Ceyhan pipeline and one third of it has been filled with oil.
01 November 2005 [14:09]

Currency flow in Azerbaijan increased for 1,3 percent

The volume of the money supply in circulation was 4193.7 billions manats on October 1 of the current year.
01 November 2005 [14:05]

Aztelekom sues 776 debtors

The "Aztelekom" Production Union of the Ministry of Communication and Information Technologies has brought a suit against 776 juridical and physical persons during this year.
31 October 2005 [18:50]

Azeri oil market: results of week

From 24 to 28 October URAL(EX-NOVO) average price, sold by Azerbaijan in Novorossiysk port, was $52.91 per barrel or dropped $0.47 barrel, or 0.9%, as compared the last week.
31 October 2005 [18:40]

10 thousands 321 money orders registered since the beginning of the year

Connection of the national post operator of Azerbaijan to the international electron money orders system (STEFI) with the assistance of the Ministry of Communication and Information Technologies is yielding its successful results.
31 October 2005 [14:15]

"Bakcell" decides to go big

The "Bakcell" Company in the frame of the “Let us change and develop” campaign is implementing works on expansion of its service coverage area in districts of Azerbaijan .
31 October 2005 [14:06]

SOCAR opens new well at Central Azeri oil field

New 8th well was put into operation in the Central Azeri field.
31 October 2005 [14:02]

Transportation flow powers up in Nakhchivan

Nakhchivan AR representation in Baku stated that for the last nine months 4946.7 thousands tons of freight and 30070.7 thousands passengers were transported by physical persons working in transportation sphere in the Nakhchivan Autonomous Republic.
31 October 2005 [14:01]

Prices of Azeri oil rise

"Azeri light" oil’s price went up for 1.70 dollars and became 61.30 dollars per barrel on the world market.
31 October 2005 [12:38]

New plane will operate on Baku-Kiev and Baku-Dubai routes

"The new “A-319” airplane brought to Baku on October 29 will be firstly used for flights to Dubai and Kiev," informed the deputy of general director of "AZAL" State Company, chairman of Coordination and Foreign Relations Office Arif Mammadov.
29 October 2005 [18:15]

Tariffs for usage of fiber optical communications in Azerbaijan will be lowered

"The Ministry of Communications and Information Technologies plans to lower tariffs for usage of fiber optical communications that were installed in the Republic within the Trans-Asia-Europe project," informed the Minister of Communication Ali Abbasov.
29 October 2005 [14:59]

The new Airbus jet is commissioned today in Baku

The ceremony of the second A-319 airbus commissioning that arrived in Azerbaijan took place at the Heydar Aliyev international airport in Baku on 29 October 2005.
29 October 2005 [11:42]

Assets of Bank Standard formed 479 milliard 4 million manats

The general volume of assets of Bank Standard formed 479 milliard 4 million manats during last 9 months. This is 93 milliard 266 million manats or 24 % more in comparison with the same period of the previous year. APA was informed about it from the Bank Standard.
29 October 2005 [11:36]

Auction on secondary placement of T-bills starts at Baku Stock Exchange on November 1

The auction on secondary placement of T-bills with the state registration number 10601508S will be held in Baku Stock Exchange (BSE) on from 11.00 till 12.30 on November 1, in accordance with the contract signed between the BSE and Finance Ministry.
29 October 2005 [11:34]

"Azercell" concluded roaming contract with “Nawras” operator of Oman

"Azercell Telecom" JE concluded a roaming contract with the "Nawras" operator of Oman.
28 October 2005 [23:20]

LUKOIL plans developopment of D-222 block in Azerbaijani sector of the Caspian Sea

In late 2005 the shareholders of the project on development of D-222 bloc in the Azerbaijani sector of the Caspian Sea will hold a meeting to discuss the further plan and work schedule informs Trend news agency.
28 October 2005 [22:03]

CIS countries approve agreement on forming of common electric power market

The members of the CIS Electric Power Council met in Tbilisi, Georgia on Friday, October 28 signing an agreement on common electric power market.
28 October 2005 [21:31]

"VISA International" has big plans for Azerbaijan

"VISA International" will implement several projects in Azerbaijan. Among them are implementation of Visa 3-D Secure Authentication technology and phone banking.
28 October 2005 [17:21]

Short-term notes of the National Bank go on sale at Baku State Exchange

An auction on placement of short-term notes of the National Bank with the 50100511S state registration number was held at the Baku Stock Exchange (BSE) today.
28 October 2005 [16:28]

Thirteenth session of the Black Sea Economical Cooperation Organization Council of Ministers starts tomorrow

The next 13 session of Black Sea Economical Cooperation Organization Council of Ministers [BSEC CM] will be held in Chisinau, Moldova tomorrow, October 29. Azeri delegation led by the deputy of the Minister of Foreign Affairs Mahmud Mammadguliyev will also attend the session.
28 October 2005 [13:36]

A direct flight will be opened soon from Baku to Madrid, Spain.

Press service of "AZAL" state airways informs that the flight will open somewhere in the midst of next month.
28 October 2005 [12:13]

Azeri, Georgian and Kazakh transportation chiefs will discuss TRASSECA perspectives in Aktau

A meeting of chiefs of transportation administrations of Azerbaijan, Georgia and Kazakhstan will be held in Aktau, Kazachstan on Friday, October 5 under the Europe-Caucasus-Asia transport corridor project.
27 October 2005 [21:02]

"Azeronline" replies ISPA and the war of Internet providers continues

The hot clashes between Azeri Internet providers continue while the Minister of Communication and Information Technologies tries to bring peace and equilibrium between the rivals.
27 October 2005 [17:57]

Second new Airbus will arrive in Baku tomorrow

Representatives of the AZAL State Airlines left Baku today and are on their way to France where they will receive the second airbus ?-319 manufactured by the Airbus Industries international air concern.
27 October 2005 [13:27]

Azeri oil prices rise

After moving downward the prices finally start to climb up.
27 October 2005 [12:57]

BP working hard to squeeze in the BTC schedule assigned by Natik Aliyev

The BTC construction works are at the final stage. "The oil will flow in Ceyhan late 2005," promise BTC executives.
26 October 2005 [19:01]

First Caspian International Information Communication Technologies Conference starts tomorrow

The first Caspian International Information Communication Technologies (ICT) Conference will be held in the frame of the 11th International Telecommunication and Information Technologies Exhibition on October 27.
26 October 2005 [14:50]

Insurance premium and payments increased for over one third

For the 9 months of the current year the premium of the Azerbaijan’s insurance companies constituted 346,35 billion AZM.
26 October 2005 [13:41]

First cargo for Astara Module Power Station has arrived in Baku

The first large equipment consignment for the Astara Module Power Station (MPS) arrived in a port of Baku from Finland.
25 October 2005 [19:09]

Azeri oil market: results of the week

From 17 to 21 October URAL(EX-NOVO) average price, sold by Azerbaijan in Novorossiysk port, was $53.38 per barrel or dropped $1.70 barrel as compared the last week.
25 October 2005 [17:20]

Azeri oil prices continue to drop

The price for AZERI LT CIF on 21 October was $57.90 per barrel (dropped $0.29 per barrel as compared to the previous price).
25 October 2005 [14:33]

SOCAR started drilling of new well on “Govsan” oil field

State Oil Company of Azerbaijan started drilling a new well on the “Govsan” oil field with a designed depth of 3700 meters. About 200 meters have been drilled alreadyby the moment. The daily average drilling speed is 50 meters.
25 October 2005 [14:23]

New tanker “Shah Ismayil” arrived in Baku bay

The “Shah Ismayil” tanker has already reached Baku. It is the third, tanker under a project 19619. Shah Ismayil Khatai was built at the Krasnoye Sormovo shipyard, in the regional city of Nizhniy Novgorod, Russia.
25 October 2005 [13:16]

Bayva Energy threatens to leave if its request will not be answered

“The request made to the Cabinet of Ministers by “Bayva Energy” Management Center on canceling its contract has not been replied yet”, said the chief of press and law service of “Bayva” Tahir Alirzayev.
24 October 2005 [18:39]

War of Azeri Internet providers temporarily is over

Internet Service Providers of Azerbaijan, declaring on October 20 a complete blockade of addresses belonging to Azeronline and stopping e-mail exchange with Azeronline, decided temporarily to stop it due to November 6 elections. They also announced an ultimatum to Azeronline promising to continue the blockade if Azeronline does not change its policy.
24 October 2005 [15:29]

Azeri Gaz Bank prospers with its assets reaching mark of 68,9 billions AZM

“Over the last nine months Azeriqazbank (AGBank) reached considerable increase of financial outputs,” says a press release of the bank. The assets of AGBank grew 69.8 billions manats and comprised 262.7 billions.
24 October 2005 [13:48]

French government ready to finance equipment of Ganja and Nakhchivan airports

The French government has voiced its readiness to finance a purchase of an equipment for airports in Ganja and Nakhchivan through approval of a loan for purchase of navigation devices.
24 October 2005 [13:45]

Flight Baku-Cairo to be established soon

Azerbaijan agreed with the proposal of Egypt on opening of new flight between two countries. The aggrement was achieved as a result of repeated meetings of Yusif Ahmad Al-Sharkavi, the Egyptian Ambassador to Azerbaijan, with the head of AZAL Air Lines Company.
24 October 2005 [11:31]

SOFAR’s funds expected to reach $63.4 billions by 2024

“Azerbaijan soon will turn into a rich country,” Samir Sharifov, the Executive Director of the State Oil Fund of Azerbaijan (SOFAR), said during the meeting of the Consultative Commission of the Extractive Industry Transparency Initiatives (EITI) recently held in Washington.
22 October 2005 [14:54]

Kazakh oil from Kashagan Project may flow through BTC by the end of the year

Azerbaijan and Kazakhstan are about to sign an agreement on Kazakhstan pumping its oil through the Baku-Tbilisi-Ceyhan pipeline.
22 October 2005 [13:42]

Some expenses increased in the state budget for the year 2006

“The expenses envisaged in the public budget for 2006 were increased on some spheres,” said Avaz Alakbarov, the Finance Minister on the Parliament’s Friday meeting.
22 October 2005 [13:33]

70 percents of apartments in Ganja city are supplied with new electricity meters

The process of installing new electric-meters in apartments and houses of Ganja inhibitants is implemented on 70 percents.
22 October 2005 [00:56]

Leasing portfolio in Azerbaijan equals $24,5 millions

This information was spread on October 20 in the press release of the Project of Leasing Development in Azerbaijan, implemented by International Finance Corporation (IFC – a group of World Bank)
22 October 2005 [00:27]

Over 100 companies will participate in the XI International Telecommunication and Information Technologies Exhibition

20.10.2005. BAKU. XI International Telecommunication and Information Technologies Exhibition will be held in Baku on October 26-29.
22 October 2005 [00:17]

Azerbaijan is ready to sign credit agreement on construction of Alat - Astara highway

The government of Azerbaijan plans to sign an agreement on Alat-Astara highway project with the International Bank of Reconstruction and Development (IBRD) and the Asian Development Bank in 2005. Azerbaijan plans to bore around $300millions from the World Bank (WB) and $100millions from the ADB.
21 October 2005 [18:33]

Azpetrol informs that none of its accounts have been frozen

Azpetrol rejects incorrect press reports stating that the Company's bank accounts have been frozen.
21 October 2005 [17:04]

50 Azeri businessmen prepare to participate in packing mechanisms exhibiton in Istanbul

Azerbaijan is going to participate in the XI Packaging Industry exhibition that will take place in TUYAP Istanbul Exhibition Center on November 9-13.
21 October 2005 [12:11]

The oil from BTC pipeline will reach Ceyhan without delays

Today general director of the BTC Company and the head of the State Oil Company of Azerbaijan Republic [SOCAR] announced that the BTC Co. will not delay the oil shipment.
20 October 2005 [20:26]

Delegations from Azerbaijan will participate in tourism exhibitions in London and Istanbul

Azerbaijan is going to be represented at "World Travel Market" exhibition in London and "The First Tourist Exhibiton of the Countries of the Organization of Islamic Conference" in Istanbul
20 October 2005 [11:39]

The first cargo of Azeri crude will not be received in Ceyhan,Turkey until the first quarter of the year 2006

David Woodward, the head of BP-Azerbaijan explains that delay was caused by construction difficulties in Turkey. However BP-Azerbaijan plans to catch up with the schedule.
19 October 2005 [21:10]

400,1 million AZM is planned to accumulate on state insurance payments in 2006

Chairman of the State Social Security Fund provides financial forecast at the October 19 session of the Parliament.
19 October 2005 [17:50]

Azerbaijan takes 137 place on the corruption index consisting out of 159 countries

Transparency International published its Corruption Index for the year 2005
19 October 2005 [17:37]

Azerbaijani-Russian business forum on tourism will be held in St. Petersburg

Russian and Azeri businessmen are going to meet in St. Petersburg on November 14-16 and discuss ways of mutual cooperation in tourism sector.
19 October 2005 [15:42]

Azpetrol's president Rafig Aliyev is arrested

The President of Azpetrol Company Rafig Aliyev is arrested by the Ministry of National Security
19 October 2005 [10:46]

Technical inflation awaits newborn Manat

National Parliament meets on October 18, the Day of National Independence, to discuss the project of a budget for the year 2006
19 October 2005 [01:37]

Producer and retailer come to a mutual agreement

"Barmek Azerbaijan" deducts debts of the first category consumers and SOCAR from the amount to be paid to Azerenerji JSC
18 October 2005 [21:02]

Azeri oil market: results of the week

In the period January-November Socar will sell less than it did last year in the same period.
18 October 2005 [14:17]

Baku Build exhibition expands

11th Azerbaijan International Exhibition "Construction and Interiors, Heating and Ventilation" opening on October 19 will include new sectors and 180 participant companies.
18 October 2005 [10:07]

Gross Domestic Product climbes 21,8 percents up

Figures provided by Trend news agency show steady growth in the economy
08 October 2005 [13:59]

Baku declaration on establishment of Eurasian Businessmen’s Union signed

Press conference dedicated to the results of the international meeting “1st Baku meeting for Eurasian Businessmen’s Union” was held in “Excelsior” hotel yesterday.
08 October 2005 [13:54]

Bill “On the state budget of 2006” was recommended to the parliament

The bill “On the state budget of 2006” was discussed with participation of the Economic policy, Agrarian policy, Science and education, Law policy and state construction questions, Social policy and other commissions of Milli Majlis yesterday.
08 October 2005 [13:50]

Political scientist Ilya Zaslavski: “The BTC project will weaken European Union’s dependence on OPEC”

The book entitled “The question of pipe. Baku-Tbilisi-Ceyhan and Kazakhstan’s choice in the Caspian Sea” written by Political scientist Ilya Zaslavski was presented in Moscow.
08 October 2005 [12:04]

International conference on “Privatization and its impact on capital markets development” will take place in Baku

International conference on “Privatization and its impact on capital markets development” will take place in Baku on 11 October.
05 October 2005 [09:44]

“Garadagh Cement” can take the Azeri Ministry of Taxes to the International Court

“If the Appellation and Supreme Courts do not satisfy our complaint, the “Garadagh Cement” Open Joint-Stock Company (OJSC) will take the Ministry of Taxes (MT) to the International Court for the purpose of protecting its rights”.
05 October 2005 [09:26]

It is impossible to clean completely local pollutions in the Apsheron peninsula

“There are local pollutions creating a radioactive source in the Apsheron peninsula. However, these local pollutions create low radiation and that is why don’t affect in the general norm”.
05 October 2005 [08:55]

Mahmud Mammadkuliyev: “It is worth neither haste, nor be slow at negotiations with WTO”

Azerbaijan should not be either hasty or slow at the consultations to join the World Trade Organization (WTO), deputy Foreign Minister of Azerbaijan Mahmud Mammadkuliyev told Trend.
05 October 2005 [08:41]

“Garadagh Cement”: “If a weak earthquake happens in the country, most of newly constructed buildings will tumble down”

“There are serious problems in the building sector of Azerbaijan. If a weak earthquake happens in the country, most of newly constructed buildings will tumble down”.
05 October 2005 [08:40]

Action plan of tourism development in Azerbaijan to be submitted to President

An action plan on development of tourism in Azerbaijan, developed by the US experts with financial support from the Department of State will be submitted to the President shortly.
05 October 2005 [08:35]

New air flight to be opened between Baku and Sofia

New direct air flight may be opened between Baku and Sofia soon.
29 September 2005 [10:09]

Russia not to authorize sailing of Azerbaijan’s ships in interior waters of Russia

The neighbor country still does not authorize the sailing of Azerbaijan’s ships in the interior waters of Russia.
29 September 2005 [09:49]

Pensions to be increased next year

Pensions will be increased next year.
29 September 2005 [08:42]

First 50 thousand insurance certificates to be given to employees recently

The first party of social insurance certificates to be given to citizens working in Azerbaijan was already brought.