Business

16 May 2006 [08:55]

Turkish businessmen visit Azerbaijan

About 60 businessmen from Ankara and Istanbul cities of Turkey invited by Azerbaijani-Turkish Union of Industrialists and Businessmen (TUSIAB) have held meeting on TUSIAB premises.
16 May 2006 [08:36]

RAO EES Company, Russia mission to visit Baku next week

Russian RAO EES Company representatives will visit Azerbaijan next week.
16 May 2006 [08:07]

IFC and ADB to own 35% of Azerigasbank shares by mid-June

International Finance Corporation (IFC) and Asian Development Bank (ADB) are expected to obtain Azerigasbank Joint-Stock Bank shares of 17,5% for each by mid-June this year.
15 May 2006 [20:28]

Shahmar Movsumov appointed Head of State Oil Fund

Azerbaijan's President Ilham Aliyev issued an executive order on appointment of Shahmar Movsumov executive director of the State Oil Fund.
15 May 2006 [19:28]

Associated Press: "Kazakhstan to join oil pipeline in June"

Kazakhstan's prime minister said Monday that the energy-rich ex-Soviet republic will next month sign up to pump its oil through a pipeline that starts in Azerbaijan to Turkey, the government press office said.
15 May 2006 [18:17]

Baku Grain Terminal will take part in "Grain Forum"

Rafik Asadov, the Chairman of Baku Grain Terminal (Baku, Azerbaijan) is the participant of "Grain Forum" which will be held on the 18th of May in Kiev.
15 May 2006 [16:28]

Long-term agreement on social and economic cooperation to be signed between Belarus and Azerbaijan

Intergovernmental commission on economic cooperation between Belarus and Azerbaijan held its following meeting in Minsk.
15 May 2006 [14:53]

Tender for Baku Ring road announced

The second tender is to be announced on construction of Baku ring road soon.
15 May 2006 [14:49]

WB to start $1.2 billion cooperation with Azerbaijan

The strategy on cooperation between the World Bank and Azerbaijan is assessed USD 1,2 billion.
15 May 2006 [13:12]

Turkish Daily News: "Energy and Turkish coffee"

Article by Egemen Bagis, foreign policy advisor to Prime Minister Recep Tayip Erdogan.
15 May 2006 [12:18]

Newsweek: "Let's Not Play The Oil Game"

Article by Richard N. Haass, Newsweek International
15 May 2006 [12:00]

Newsweek: "Will We Hit $100 a Barrel?"

Article by Karen Lowry Miller, Newsweek International
15 May 2006 [11:57]

Azerbaijan receives 15m cu m of gaz daily

State Oil Company of Azerbaijan Republic purchased 357.2 million cubic meters of gas from Russia's Gasexport company with 1 billion 692.8 million cm bought for four months.
15 May 2006 [11:53]

AIOC increased oil export in Q1

The Azerbaijan International Operating Company (AIOC) exported 5 507 thousand tons of crude in January-April this year, up by 60.7% on the same period last year.
15 May 2006 [08:20]

Kars-Akhalkalaki railway construction might start this year

Baku-Tbilisi-Akhalkalaki-Kars railway construction might start in 2006.
14 May 2006 [19:50]

Iran opposes laying of oil, gas pipelines on Caspian seabed

Iran's Ambassador to Kazakhstan Ramin Mehmandoost stated Sunday that the Islamic Republic of Iran is opposed to laying oil and gas pipelines on Caspian seabed.
14 May 2006 [09:46]

South Korea interested in non-oil sector

The key goal of the South Korean businessmen's talks in Baku was to discuss investments in the oil sector, but the outcome of the visit revealed extensive opportunities for doing business in other fields in Azerbaijan, said Emil Majidov, president of the Azerbaijan Export & Investment Promotion Foundation (AZPROMO).
13 May 2006 [09:21]

Stratfort: "South Korean state energy firm gets in deep"

Deepwater oil production is an exacting and expensive technology with a very flat learning curve. But these hurdles are not stopping the South Koreans from building an energy firm with global competency, including deepwater oil production competency.
13 May 2006 [09:00]

Foreign companies win SOCAR tender on lubricating oil sales

Four foreign companies have won SOCAR Marketing and Economic Transactions Department (METD) tender on lubricating oil (industrial, turbine, transformer, transmission and cylindrical) sales.
12 May 2006 [23:26]

Korea to establish Internet Center in Baku

Today South Korea minister of information and communication Rho Jun-hyong has met with Azerbaijani communication and information technologies minister Ali Abbasov.
12 May 2006 [23:18]

Digital Age made a new tourist map of Baku

The Digital Age Company in Khatt Group of Companies finished its project on making a new tourist map of Baku City.
12 May 2006 [23:13]

Installation of water meters to be ended in 2008

Azersu Joint Stock Company (JSC) will finish installation of water meters till 2007 in Baku and till 2008 in the republic. Nizameddin Rzayev, Head of Azersu JSC, told the media about.
12 May 2006 [23:07]

AZN4 million state short-term loans to be invested in BSE

Baku Stock Exchange (BSE) will host the following auction on Ministry of Finance state short-term loan (SSL) investments on May 15.
12 May 2006 [23:04]

WB to expertise Draft Law on Insurance Activity

The World Bank (WB) experts will evaluate final version of the Law on Insurance Activity during May.
12 May 2006 [22:59]

Proposals on toughening responsibility for tax crimes to Milli Majlis

The Ministry of Finance and Prosecutor's Office proposed Milli Majlis to make responsibility tough for tax crimes.
12 May 2006 [22:58]

Bakcell Company creates roaming connection with Cubacel, Cuba and TELE2, Croatia

Bakcell Company has created dual roaming connection with Cubacel, Cuba, mobile communications operator in 900 MHz.
12 May 2006 [22:54]

Nurgun Holding will start household chemical goods and sweet products enterprises

Zaman Holding, Nurgun Holding's branch establishment, will start new technological production of washing detergents and gels.
12 May 2006 [22:44]

Nizameddin Rzayev: "Water supply for Baku meets World Health Organization standards"

Jeyranbatan and Kur water that provides supply for Baku completely meets The World Health Organization norms. Drinkable water from 50 sources for Baku is examined every day.
12 May 2006 [21:39]

Azeri gas company: Russian takeover rumors unfounded

An Azeri company is denying reports that a Russian energy giant will take over Baku power grids.
12 May 2006 [19:11]

USACC publishes its first edition of the "USACC Business Directory"

The United States – Azerbaijan Chamber of Commerce (USACC) today announced that "USACC Business Directory 2006", a new publication of the United States – Azerbaijan Chamber of Commerce, is published and available for distribution.
12 May 2006 [17:21]

Trades at BICEX

The weighted average exchange prices made up 0,9010 AZN for 1 US dollar in the Baku Interbank Currency Exchange May 12.
12 May 2006 [16:05]

Oil prices drop below $73 a barrel

Crude-oil futures dropped Friday after the International Energy Agency sharply cut its forecasts for world oil demand and three foreign oil workers kidnapped in Nigeria were released unharmed.
12 May 2006 [14:31]

Demand for foreign currency decreases as Azerbaijani manat turns firm

As Rufat Aslanli, Deputy Chair of management board of the National Bank, stated, technical factors hindering usage of the new bank notes were removed. Commercial operations with national currency are easier now.
12 May 2006 [12:50]

Russia's Ural Turbine Works to update Ganja heating plant

Russian company to take part in overhaul and updating of turbines and boilers at Ganja heating plant in Azerbaijan.
12 May 2006 [10:03]

CATEL installed new CDMA base station in Ali Bayramli

CATEL Joint-Stock Company (JSC) installed new CDMA mobile network base station in Ali Bayramli covering Hajigabul, Ali Bayramli and near residences.
12 May 2006 [09:55]

Isa Gambar: "Exit-poll" organized in more transparent way"

Today Musavat Party Head Isa Gambar has held a press conference dedicated to re-parliamentary elections on May 13.(APA). Isa Gambar has stated that the party has forwarded 7 candidates on 10 constituencies, on the other constituency it supports other party's candidate.
12 May 2006 [08:56]

Protocol is signed between Ganja Automobile Plant and Chinese Lifan

Agreement protocol on installation of Chinese automobiles in Azerbaijan has today been signed between Lifan Company, China and Ganja Automobile Plant (GAP) on GAP premises.
12 May 2006 [08:39]

CEM and CleanExpo exhibitions took place in Baku

2nd Furnishings and appliances exhibition (CEM) and Cleaning and hygiene equipments exposition (CleanExpo) has started in Baku.
12 May 2006 [08:27]

Bank Standard assets reach $145,224 million

Bank Standard CJSC assets aggregate AZN131 225 thousand (US $145 224 thousand) for May, 1 this year, exceeding last month figure by 14% and last year figure by 32%.
11 May 2006 [21:10]

The Guardian: "Cheney has Turkey in his sights"

The vice-president highlighted an unheralded goal of US foreign policy when he took a shot at Russia, writes David Gow.
11 May 2006 [20:26]

Kazakhstan and Turkmenistan to transport 10 million tonnes of oil via TRACECA

The transportation of oil and oil products from Kazakhstan and Turkmenistan via the transport corridor Europe - Caucasus - Asia (TRACECA) are expected in the volume of 10 million tonnes.
11 May 2006 [20:25]

Azerbaijan can increase oil export price by 25%

Incomes and expenditures of Azerbaijan's state budget for 2006 can be increased be increased for AZN 350 million, Prime Minister Arthur Rasizade told journalists.
11 May 2006 [13:17]

ADB allots $179 mln credit

Asian Development Bank (ADB) has loaned 179 mln dollars to Azerbaijan in accordance with the Country strategy and program update, ADB's office said.
11 May 2006 [13:12]

Azeri Enrerprises increase gas production

Some 2 bln 239. 31 mln cubic meters of gas have been produced in Azerbaijan within past four months that is 591,9 mln cubic meters more of the same period of 2005.
11 May 2006 [12:37]

Adidas-Salomon AG to distribute Reebok brand in Azerbaijan

Adidas-Salomon buys Reebok brand distribution rights for part of CIS.
11 May 2006 [09:50]

Azerbaijani and Latvian Accounts Chambers to sign cooperation agreement

Chamber of Accounts of Latvia submitted draft document on cooperation agreement to Azerbaijani structure.
11 May 2006 [09:48]

Purchasing new equipments to strengthen control over customs stations

State Customs Committee (SCC) negotiates foreign companies on purchasing new equipments to simplify the examination process and to strengthen control over water frontiers.
11 May 2006 [09:45]

WTO proposals on customs tariffs are considered in Azerbaijan

State Customs Committee (SCC) currently considers World Trade Organization (WTO) customs tariffs for Azerbaijan. Aydin Aliyev, Chief of the Committee, told in his speech to the media that WTO wants Azerbaijan to consider proposals on customs tariffs.
11 May 2006 [08:16]

Hotel "Azerbaijan" to be invested

State Committee on State Property Management has declared investment competition for selling 99,83% (including 14,83% remaining after privileged sales to employees) of Hotel Azerbaijan OJSC stocks.
11 May 2006 [08:10]

AIOC increased oil exportation by 60,7% in January-April

Azerbaijan International Operating Company (AIOC) exported 5 507 thousand tons oil in January-April this year exceeding preceding year's figure for the same period by 60,7%.
10 May 2006 [13:22]

Kazakhstan regards TransCaspian gas pipeline construction

The government of RK regards an opportunity of a gas pipeline construction through the Caspian Sea.
10 May 2006 [13:02]

Turkey's Energy Minister: "BTC are protected in high level in all three countries"

"The oil will reach Ceyhan (Turkey), on 27 May, and we'll load the first tanker on that day.
10 May 2006 [08:11]

Samir Sharifov: "2006 state budget will be changed due to increasing incomes"

"Long-term salary increase policy is now driven. For this purpose state budget should be changed that demands more expenses," Samir Sharifov, Finance Minister, told to the media.
09 May 2006 [19:23]

BP to load first BTC crude cargo end May

Oil major BP will load the first cargo of Azeri crude from its $4 billion BTC pipeline in Turkey at the end of May, trade sources said on Tuesday.
09 May 2006 [19:11]

Fazil Mammadov: "Barmek accounts will probably be re-blocked"

"It is absolutely legal to put up property of some public enterprises at auction. This rule is expected to be implemented over some other public enterprises too," Fazil Mammadov, Taxes Minister told in his speech to the media.
09 May 2006 [18:30]

Zaman Online: "Trans-Caspian gas pipeline being warmed up again"

Article by Mirza Cetinkaya, published in Turkey's Zaman Online edition.
09 May 2006 [18:14]

TRACECA Intergovernmental Commission meets in Sofia

The Fifth Annual Meeting of the Intergovernmental Commission of the Europe-Caucasus-Asia Transport Corridor TRACECA and the Second Ministerial Conference on enhanced Transport Co-operation between the EU, the Black Sea/Caspian littoral States and their neighbouring countries ("Baku Initiative") were held in Sofia on 3 May.
09 May 2006 [17:56]

Azerbaijan Minister of Communications visits UAE's JAFZA facilities

Ali Abbasov, Azerbaijan Minister of Communications and Information Technologies praised the development and the success achieved by Jebel Ali Free Zone "Jafza" that ranked them in the leading Free Zones to export its goods and products world-wide in a visit paid to Jafza.
09 May 2006 [10:35]

New module of Baku Power Station is to be built

One of 5 module stations to be built in Azerbaijan will be constructed in Baku Power Station area which activity is limited for being economically unprofitable and due to un-normal work graphic.
09 May 2006 [09:52]

Number of people with tax debt decreased by 9,6%

Number of tax-payers who has debts on taxes has decreased by 9,6% in January-March this year. The figure in April was 30,5 thousand persons and legal entities.
09 May 2006 [09:50]

1,083 million tons pure oil filled in Baku-Tbilisi-Ceyhan pipeline by May, 1

8 050 thousand barrels (1 083 thousand tons) pure oil has been delivered to Baku-Tbilisi-Ceyhan (BTC) pipeline by May, 1 this year.
09 May 2006 [09:37]

SOCAR increased budget transfer by 2,2 times in April

State Oil Company of the Azerbaijan Republic (SOCAR) transferred AZN60 041 into state budget in April this year exceeding last year's indicator for the same period by 2,2 times.
08 May 2006 [20:07]

Turkish PM: "BTC pipeline to flow by June"

The Baku-Tbilisi-Ceyhan oil pipeline will see oil flow in June, Turkey's Anatolia Adana news agency reported Sunday.
08 May 2006 [19:52]

President Aliyev holds meeting of the Cabinet

President Ilham Aliyev held a meeting of the Cabinet of Ministers on the results of Q1
08 May 2006 [15:47]

Government initiates to privatize agro credit organization

Azerbaijan government initiates to privatize agro credit organization till 2008.
08 May 2006 [14:35]

SOCAR awards scholarship to Oil Academy students

The State Oil Company of Azerbaijan Republic (SOCAR) bolsters 50 students of the Azerbaijan State Oil Academy through awarding monthly scholarships in order to provide oil industry with qualified cadres.
08 May 2006 [14:24]

Azerbaijan, US discuss ICT cooperation prospects

Communications Minister discussed prospects of bilaterial cooperation.
08 May 2006 [12:08]

Rajap Tayyip Erdogan: "There exists no threat to Baku-Tbilisi-Ceyhan oil pipeline"

The official opening ceremony of the Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline is due to be held in Ceyhan district of Adana province in Turkey in July this year, APA informs.
08 May 2006 [11:59]

American companies intend to build petroleum chemical complex in Azerbaijan

American companies intend to construct big petroleum chemical complex in Azerbaijan, informed Heydar Babayev, Minister of Economic Development.
08 May 2006 [08:39]

Increase of diesel fuel caused fall of grain-growing in Zagatala

From beginning of this year, increase of fuel twice had made impact on agricultural development in Zagatala.
07 May 2006 [21:23]

BP to withdraw from the Baku-Ceyhan pipeline Project?

BP turns over its Black Sea shares.
07 May 2006 [18:36]

Bahamas to issue verdict on Viktor Kozeny's extradition to USA on May 19

The Bahamian court is to decide on Czech-born financier Viktor Kozeny's possible extradition to the USA on May 19, Kozeny's Bahamian defence counsel Philip Davis said.
07 May 2006 [15:34]

IT and Communication Minister of Azerbaijan visits Etisalat University College

Minister of Communication and Information Technology of the Republic of Azerbaijan recently visited the premises of Etisalat University College.
07 May 2006 [14:52]

Ukranian company wins Azeri Light tender

A tender for a million barrel batch of Azeri Light crude has been wrapped up, according to the State Oil Company of Azerbaijan.
07 May 2006 [14:47]

SOCAR's capital expenditures to increase

Capital expenditures of the State Oil Company will reach $300 million, up by 16.5% on the same period last year.