Business

01 February 2007 [15:01]

Bridge next to Azizbayov subway station can be demolished

Transport Ministry has invited the experts of Moscow Auto-Road Institute to investigate the problems appeared on the bridge near Mashadi Azizbayov metro station, Transport Ministry told.
01 February 2007 [13:52]

Former chief of BP-Azerbaijan takes charge as Aabar CEO

United Arab Emirates' Aabar Petroleum Investments Company (Aabar) announced the appointment of oil industry veteran David Woodward as Chief Executive Officer of the company.
01 February 2007 [13:25]

Azerbaijan takes part in Spain's Int'l Tourism Exhibition

170 countries are taking part in the 27th edition of FITUR, The Madrid International Tourism Fair which was opened by King Juan Carlos on Wednesday.
01 February 2007 [01:09]

Cargo transportation rises 5.3% in Azeri part of TRACECA

Cargo transportation in Azeri part of Transport Corridor Europe-Caucasus-Asia (TRACECA) reached 43.7mln tonnes in the period of January-November last year, up 5.3% from the same period previous year.
01 February 2007 [01:08]

AzPromo Board of Trustees to meet

The Board of Trustees of Azerbaijan Export and Promotion Foundation (AzPromo) will meet on February 6.
01 February 2007 [01:08]

Azerbaijan asks Russia for 28-vessel passage in 2007

Azerbaijan State Shipping Company (XDG) has submitted a passage schedule of its 28 dry-cargo ships for 2007 to Russia's Federal Agency for Sea and River Transport.
01 February 2007 [01:02]

Loan investments in Azeri economy grew 64%

As of January 1, the amount of loans invested in the economy of Azerbaijan reached AZN 2 362.7mln, up 64% or AZN 921.7mln from the previous year.
01 February 2007 [01:01]

Azerbaijan gets 3G frequencies

Azerbaijan's Communications and Information Technologies Ministry has acquired third-generation (3G) technology frequencies.
01 February 2007 [01:00]

Azeri banks' deposit portfolio amounts to AZN 2 129.2mln

The total of Azeri banks' deposit and savings portfolios amounted to AZN 2 129.2mln at January 1, 2007.
01 February 2007 [00:52]

Northern regions receive electricity with interruptions

The weather changed on the night of January 30-31 in the northern regions of Azerbaijan.
01 February 2007 [00:43]

Energy price rise increase water cost price by 40%

Recent energy price rise has increased the cost price of water in Azerbaijan, Azersu President, Nizamaddin Rzayev, said.
01 February 2007 [00:42]

Trades at BICEX, Jan. 31

The weighted average exchange price made up 0.8703 AZN/USD at trading sessions on the Baku Interbank Currency Exchange on Wednesday.
01 February 2007 [00:40]

$142m agreement concluded on Oghuz-Gabala-Baku pipeline project

Azersu Company concluded an agreement with an alliance of companies –Turan Hazinedaroglu Inshaat ve Ticaret/Tekser Inshaat Sanayi ve Ticaret/Gence Korpu Tikinti 2 on construction of Oghuz-Gabala-Baku water pipeline project.
01 February 2007 [00:26]

Brioni to open shop in Baku

Brioni Roman Style SpA, the suit maker that stitched gun holsters into tuxedos for the latest James Bond film, will focus on the richest Asian clients and offer more casual wear after ousting its top executive in 2006.
01 February 2007 [00:21]

Mogilev expands cooperation with Azerbaijan

Chairman of the Mogilev town hall Viktor Shorikov and Ambassador Extraordinary and Plenipotentiary of Azerbaijan to Belarus Ali Nagiyev have discussed today the prospects of the trade-economic cooperation between Mogilev and Azerbaijan.
01 February 2007 [00:05]

Final agreement on BTAK railroad project to be concluded in Tbilisi

Azerbaijan, Georgia and Turkey will sign a final agreement on Baku-Tbilisi-Akhalkalak-Kars strategic railroad link Feb 7.
31 January 2007 [23:53]

Prices for papers published in Azerbaijan Printing House will rise from tomorrow

The prices for the newspapers published in Azerbaijan Printing House will rise from tomorrow, the director of the Printing House Agabey Askerov told.
31 January 2007 [17:28]

New GSM operator Azerfon to start in a month

Azerfon LLC, the third GSM operator in Azerbaijan, will start up within a month.
31 January 2007 [16:43]

Electronic war likely to harm Armenia more, ICT Minister says

"The electronic war between Azerbaijan and Armenia appears undesirable. Azerbaijan enjoys much more technical and financial potential (levers), so this hostility is likely to harm Armenia more," Azerbaijan's Information and Technologies Minister, Ali Abbasov, stated.
31 January 2007 [13:24]

Azerbaijan negotiates with South Korea on fast trains

Azerbaijan State Railway Company (ADDY) is negotiating with South Korean companies on use of fast trains in Azerbaijan.
31 January 2007 [11:24]

The Moscow Times: 'Not One Russian Is Knocking on the Door'

The mood at the Cheryomushkinsky market in southwest Moscow, normally a buzzing Oriental bazaar with a hubbub of diverse accents from the Caucasus and Central Asia, is subdued: One-third of the stalls stand empty.
31 January 2007 [11:17]

President Aliyev meets chairman of VINCI's Board

On January 30, President of Azerbaijan Ilham Aliyev met at his temporary residence in Paris with Yves-Thibault de Silguy, chairman of the Board of VINCI, French construction company.
31 January 2007 [11:14]

ITECA Caspian LTD rescheduled some of int'l exhibitions

ITECA Caspian LTD, the exclusive partner of ITE Group - the leading organizer of international trade exhibitions and conferences in the South Caucasus rescheduled some of international exhibitions because of the Taekwondo and Aikido World Championships to be held at Heydar Aliyev Sport and Exhibition Complex, in autumn 2007.
31 January 2007 [11:13]

80 tankers carrying Azeri Light oil sail to world market from Ceyhan

80 tankers carrying 7.671mln tons of Azeri Light crude oil have to date sailed from Ceyhan Port to the world market.
31 January 2007 [11:11]

Azerdemiyolbank's assets grew 79%

Azerbaijan's Azerdemiryolbank has, to January 1, increased its assets to AZN 90.3mln, up 78.8% from the previous year.
31 January 2007 [11:10]

Transport Minister to visit Georgia

Azerbaijan's Transport Minister, Ziya Mammadov, will pay a visit to Georgia on Feb. 5.
31 January 2007 [11:09]

Porsche sales and service center to be set up in Azerbaijan

Kres GmbH, selling and servicing Audi and Volkswagen vehicles in Azerbaijan, intends to open Porsche sales and service center this year.
31 January 2007 [11:08]

EraTrans Insurance's authorized capital to reach AZN 1mln

Azerbaijan's EraTrans Insurance plans to increase its authorized capital to AZN 900,000 (approx. USD 1.033mln) this year.
31 January 2007 [11:07]

BE&G Insurance's nominal capital to grow 41%

Azerbaijan's BE&G Insurance Company intends to increase its authorized capital 40.8% to some AZN 1mln (US $1.148mln).
31 January 2007 [10:59]

Azerbaijan and Russia deepen industry and energy cooperation

Head of Russia's Trade Office in Azerbaijan, Yuri Shedrin, met with Azerbaijan's Industry and Energy Minister, Natig Aliyev.
31 January 2007 [10:58]

World Bank mission arrives in Baku

The World Bank Mission for Trade and Transport Facilitation Project, led by Gerald Oliver has arrived in Baku.
31 January 2007 [10:57]

Azerenergy President left for China

On Tuesday, a delegation led by Azerenergy President, Etibar Pirverdiyev, has left Baku to China.
31 January 2007 [10:56]

Azerneqliyyatbank's assets grew 46%

Azerbaijan’s Azerneqliyyatbank, to January 1, increased its assets to AZN 16.2mln, up 46% from the previous year.
31 January 2007 [10:55]

SOCAR sells 852,674 tons of diesel fuel to France's Total

State Oil Company of Azerbaijan (SOCAR) sold 852,674 tons of diesel fuel to Total Company of France in 2006.
31 January 2007 [10:55]

SOCAR sells 855,446 tons of fuel oil to Petrofarm

During 2006 State Oil Company of Azerbaijan (SOCAR) sold 852,700 metric tons of fuel oil to Petrofarm Company of Singapore. In December no sale is made.
31 January 2007 [10:44]

Azeri insurance companies' nominal capital grew 22.4%

All insurance companies in Azerbaijan have, to January 1, increased their authorized capital to AZN 700,000, the minimum limit determined by the legislation.
31 January 2007 [10:43]

Trades at BICEX, Jan. 30

The weighted average exchange price made up 0.8705 AZN/USD at trading sessions on the Baku Interbank Currency Exchange on Tuesday.
31 January 2007 [10:40]

SOFAZ revenues reach AZN 986mln

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-December, 2006 reached 985.9 million manats (AZN) while budget expenditures constituted AZN 981.3mln, the SOFAZ Executive Director, Shahmar Movsumov, told a press conference.
31 January 2007 [10:40]

Azeri-US intergovernmental economic commission to take place Feb. 7

Azeri-US intergovernmental economic commission in a new content for the first time will take place on February 7 in Baku.
31 January 2007 [10:27]

ATR and AZAL announce six new airplanes

"ATR and Baku-based National Air Company Azerbaijan Airlines (AZAL), flag carrier of Azerbaijan, have announced the signature of a deal for 6 new ATR aircraft (2 ATR-42/500s and 4 ATR-72/500s).
30 January 2007 [17:24]

Crude still being pumped between Baku and Russian seaport

Some 360,000 tonnes of oil will be pumped through the Baku-Novorossiysk pipeline in February 2007 in accordance with Azerbaijan's order as of January 15, 2007.
30 January 2007 [17:12]

Measures plan prepared to prevent ecological problems created by Ganja "Gil-torpag" industry unit

Ecology and Natural Resources Ministry made a statement on ecological problems created by Ganja "Gil-torpag" (Clay-soil) industry unit.
30 January 2007 [17:01]

Head of Kars municipality: "Baku-Tbilisi-Kars railway is more important for Kars than BTC"

The Head of Kars municipality Naif Alibeyoglu received a group of Azerbaijani media chiefs who are on visit to Igdir and Kars.
30 January 2007 [16:59]

Turkey says work on strategic rail link starts June

Turkey said on Tuesday work would start in June on a "strategic" railway line it hopes will eventually link Europe to China via the south Caucasus and Central Asia.
30 January 2007 [14:24]

PSP Group to export medicines to Azerbaijan

Georgia's pharmaceutical company PSP Group plans to boost its exports.
30 January 2007 [01:01]

UniLeasing to open new regional branch

UniLeasing intends to open a new regional branch in Guba in early February.
30 January 2007 [00:59]

Court to announce its decision on appeal of ANS Commerce

Economic Court #1 presided over Judge Ilgar Dadasov postponed the trial on the appeal of ANS Group of Companies on ministry's decision.
30 January 2007 [00:48]

Georgia to resume importing Azeri gasoline

Georgia is importing diesel fuel from Azerbaijan without interruptions.
30 January 2007 [00:47]

IBA-Moscow carries out transactions on corporate bonds by Russian issuers

International Bank of Azerbaijan-Moscow, a subsidiary of the International Bank of Azerbaijan, has launched transactions on corporate bonds by Russia issuers.
30 January 2007 [00:40]

Azerbaijan Publishing House to increase rentals by 50%

Azerbaijan Publishing House will increase rentals by 50% starting from February.
30 January 2007 [00:32]

Ban on some wineries remains effective in Azerbaijan

State Agency for Standardization, Metrology and Patents kept effective bans imposed on some wineries.
30 January 2007 [00:31]

ADB mission to visit Azerbaijan

Asian Development Bank mission for transport will visit Azerbaijan in February.
30 January 2007 [00:29]

Bank Respublika opens office in Baku

Bank Respublika has opened an office at 24, Huseynbala Aliyev Street, Baku.
30 January 2007 [00:28]

ACE to hold seminar for businessmen

Azerbaijan National Federation of Entrepreneurs (Employers) will Wednesday hold a seminar examining Amendments to the Taxes Code.
30 January 2007 [00:28]

SOCAR raises salary 25%

Under the decision made by the State Oil Company of Azerbaijan sand Oil and Gas Industry Labor Union, there will be a 25% rise in salary effective on Feb 1.
30 January 2007 [00:27]

Azerbaijan announces tender for export of Azeri Light Crude

SOCAR Marketing and Economic Operations Department has announced a tender for oil export.
30 January 2007 [00:26]

ALFA Insurance to provide aviation insurance

Azerbaijan's ALFA Insurance intends to launch aviation insurance services this year.
29 January 2007 [22:17]

Electricity to be cut off because of debts

Bakielectricshebeke (Baku Electricity Network) will cut off electricity supply to the debtors from Monday.
29 January 2007 [18:00]

Armenian President's spokesman: "We will hamper construction of Kars-Baku"

Armenia has been always guided by economic effectiveness of projects and it categorically opposes political projects that look like economic ones only on the first sight, which is in particular true about the Kars-Akhalkalaki-Tbilisi-Baku railway, Armenian president's spokesman Viktor Sogomonyan announced at a news conference on January 29.
29 January 2007 [15:28]

Baku to host summit of TRACECA member states

Baku intends to host a summit on the 10th anniversary of the TRACECA (Transport Corridor Europe Caucasus Asia) Inter-Governmental Commission.
29 January 2007 [13:18]

Azerbaijan's foreign debt 9.9% of GDP, at $2.29 bln

Azerbaijan's foreign debt stood at 1.97 billion manat ($2.293 billion) as of January 1, 2007, the Finance Ministry said Monday.
29 January 2007 [12:46]

Yanukovych says pipe will be completed

Ukrainian Prime Minister Viktor Yanukovych said he was working to build a pipeline to transport oil from the Caspian Sea area directly to the European Union, the Wall Street Journal reported Friday, citing an interview.
28 January 2007 [15:42]

Georgia hopes to receive gas from Azerbaijan – Saakashvili

Georgian President Mikhail Saakashvili said Georgia hopes to receive gas mainly from Azerbaijan.
27 January 2007 [15:34]

"Azerbaijan Terminal Complex" becomes operational

Opening ceremony of administrative building of "Azerbaijan Terminal Complex" Foreign Economic Unity of State Customs Committee (SCC) was held on Saturday.
27 January 2007 [15:30]

Moldova, Belarus, Ukraine and Azerbaijan will simplify the produce export-import operations

Moldova, Belarus, Ukraine and Azerbaijan plan to sign the intergovernmental agreement in order to simplify the process of produce movements through the territory of these states.
27 January 2007 [03:16]

Azerbaijan develops state program for standardization, metrology, certification, accreditation and patents

State Agency for Standardization, Metrology and Patents has worked out a draft program for standardization, metrology, certification, accreditation and patents.
27 January 2007 [03:15]

Indices fell after the rally

World markets moved down after a rally on Thursday.
27 January 2007 [03:14]

Oil back to fall after levelling off a day ago

On the oil markets, crude oil began to fall from a week-second high.
27 January 2007 [03:13]

Debutbank to open new branch in Baku

National Bank of Azerbaijan has granted the proposal of Debutbank Joint Stock Commercial Bank on opening of a new branch in Baku.
27 January 2007 [03:10]

79 thousand vehicles brought to Azerbaijan in 2006

79 thousand vehicles were brought to Azerbaijan last year.
27 January 2007 [03:06]

Aleksander Lukashenko: "We carry out intensive negotiations with Azerbaijan"

"We carry out intensive negotiations with oil-producing countries in order to cooperate with them. We are ready to establish joint ventures with them," Belarusian President Aleksander Lukashenko stated in the interview to German publication "Die Welt."
27 January 2007 [02:59]

Azercell signs new roaming deal

Azerbaijan's mobile operator Azercell Telecom has concluded unilateral roaming agreement with Congo's CelTel operator.
27 January 2007 [02:57]

Oguz-Gabala-Baku Water Pipeline Project Tender winners to be announced

Azersu Open Joint Stock Company will announce winners of the tender for design engineering and construction of the Oguz-Gabala-Baku Water Pipeline Project.
27 January 2007 [02:56]

ALFA Insurance to open its branch in Sumgait

Azerbaijan's ALFA Insurance will open its first branch in Sumgait in February.