Business

05 October 2006 [09:14]

International Transaction Systems tops ranking of brokers in Azerbaijan in September

In September of this year according to the calculations by the Analytical Department of the BSE, in the government securities market (excluding repo operations market) International Transaction Systems headed ranking of brokers with brokerage services in the total amount of AZN 29 691 593.72 provided to two client.
05 October 2006 [08:58]

IEB lifts ban for fowls export and import

International Epizootic Bureau (IEB) lifts ban for fowl-flesh and products export and import, according to State Veterinary Service at Agricultural Ministry's information.
05 October 2006 [00:42]

Iran-Armenia gas pipeline on stream early 2007

The project of Iran's gas conveyance pipeline to Armenia will come on stream early 2007, Reza Kasaiizadeh, the managing director of the National Iranian Gas Company (NIGC) said here on Wednesday.
04 October 2006 [20:06]

Trades at BICEX

The weighted average exchange prices made up 0.8739 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 4.
04 October 2006 [19:44]

U.S. donates wheat for Azerbaijan health project

The United States will donate $1.75 million worth of wheat for a project to strengthen immunization services in Azerbaijan, which wants to eliminate measles and congenital rubella syndrome.
04 October 2006 [18:40]

Ministry of Justice, World Bank seal agreement

Government of Azerbaijan and the World Bank have signed an Agreement On financing on the project of modernization of justice system.
04 October 2006 [14:32]

Detention of ex-Economic Development Minister prolonged for more six months

The detention period of the former Economic Development Minister Farhad Aliyev was prolonged for more six months, Ramis Mammadov told.
04 October 2006 [13:49]

Azerbaijani, Georgian and Turkish Transportation Ministers may meet in Ankara

Azerbaijani, Georgian and Turkish Transportation Ministers may meet in Ankara on October 13-14 to discuss issues concerning Baku-Tbilisi-Akhalkalak-Kars Railway Project, Turan Morali stated.
04 October 2006 [12:22]

Caspian Business News edition closed

Caspian Business News, the region's premier English-language newspaper providing a clear and concise outline of the business environment in Azerbaijan and the Caspian region stopped its activity on Wednesday.
04 October 2006 [10:12]

Total says Kashagan field production faces delay as costs rise

Total SA said production at the Kashagan oil field in Kazakhstan, one of the five biggest in the world, will likely be delayed beyond its planned 2008 start and the project will cost more than forecast.
04 October 2006 [09:55]

Azeri parliament ratifies oil-pumping agreement with Kazakhstan

Milli Majlis has ratified an agreement on transportation of Kazakhstani oil to the world markets via the Caspian seabed and farther on via the territory of this Trans-Caucasian republic by Baku-Tbilisi-Ceyhan oil pipeline, the parliament's press service said on Tuesday.
04 October 2006 [09:46]

Accounting Chamber delegation to visit Kyrgyzstan

Delegation of Azerbaijan Accounting Chamber will visit Kyrgyzstan on October 19.
04 October 2006 [09:42]

Azerfon plans to cover 80% of Azerbaijan next year

Azerfon LLC- New GSM Operator was represented in the stand of Siemens at the International ICT exhibition started yesterday.
04 October 2006 [09:38]

Cotton harvest fell by 42.2% as against last year's

As of October 2, 67 200 tonnes of cotton were harvested throughout the country. This figure is a 42.2% decrease as against the same period last year.
04 October 2006 [09:27]

Chinese Great Wall Drilling Company won't pay salary to Azeri employees

China's Great Wall Drilling Company won't pay the salary of Azerbaijani workers employed in the 88th oil well.
04 October 2006 [09:23]

Land can also be given as security when taking out a mortgage

By the decision of the Management Board of National Bank of Azerbaijan, a number amendments and modifications were made to "Requirements of the authorized banks to issue mortgages".
04 October 2006 [09:15]

EBRD Board members to visit Azerbaijan

Members of the Board of Directors of the European Bank for Reconstruction and Development will be in Azerbaijan during October 23-25.
03 October 2006 [20:48]

Dow sets all-time high, passes January 2000 level

The Dow Jones industrial average set an all-time high on Tuesday, pulling above the previous record set in 2000 as tumbling oil prices led investors to buy shares of consumer and industrial companies that benefit from lower crude prices.
03 October 2006 [19:56]

Minister of Transport meets Turkish colleague

Azerbaijan's Minister of Transport Ziya Mammadov met October 3 with Turkish Minister of Communications and Transport Binali Yildirim.
03 October 2006 [19:26]

Indian honchos head for Azerbaijan

A business delegation from India is headed for Azerbaijan to explore investment opportunities and enhance bilateral trade between the two countries.
03 October 2006 [19:15]

Trades at BICEX

The weighted average exchange prices made up 0.8747 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 3.
03 October 2006 [18:43]

Azerbaijan posts highest CIS industrial growth in 8 mths

Azerbaijan had the highest year-on-year industrial growth among CIS countries - 40.5% - in January-August, the CIS Interstate Statistical Committee said.
03 October 2006 [16:17]

President Aliyev confirms Azerbaijan-Latvia intergovernmental commission

Azerbaijani President Ilham Aliyev confirmed the composition of the Azerbaijan-Italy intergovernmental commission for economic, technical and cultural cooperation.
03 October 2006 [15:01]

Ogtay Hagverdiyev: "Targol Investment, Fondel Metal, Barmek and some others are headache for Azerbaijan"

"Some foreign investors want to launder dirty money and make frauds in Azerbaijan," Cabinet officer for finance and credit affairs Ogtay Hagverdiyev told.
03 October 2006 [14:50]

12th International telecommunication and information technologies-2006 exhibition opened in Baku

The 12th International telecommunication and information technologies-2006 exhibition has been opened in the Azerbaijani capital Baku.
03 October 2006 [10:04]

Barmek appeal to ICSID not registered yet

The ad hoc commission on hand-over test of Barmek will submit the results to the Government, Deputy Economic Development Minister Mikayil Jabbarov said.
03 October 2006 [09:54]

Auction on placement of T-bills held at BSE

Auction on placement of T-bills with the state registration number 10202913S was held at Baku Stock Exchange yesterday.
03 October 2006 [09:32]

Azerbaijan imported 3309.5mn c.m of gas from Russia in January-September

SOCAR purchased 324mn cubic meters of natural gas from Russian Gasexport Company in September to supply for power stations.
03 October 2006 [09:21]

Daewoo Telecom claims damages of $9.5mn to Azerbaijani Government

Korea Daewoo Telecom claims damages of $9.5mn to Azerbaijani Government, Communications and Information Technologies Minister Ali Abbasov said.
03 October 2006 [09:13]

Low-quality products sold in Lenkeran

The Central Market in Azerbaijani southern region of Lenkeran sells old and harmful products for health, Habil Sadigov, Lenkeran Hygienic and Epidemiology Center (HEC) director told.
02 October 2006 [21:52]

Iran warns Japanese to act on oil deal soon

Iran's government said Monday that the Japanese company Inpex had a day or two to express its commitment in negotiations over a project to develop an oil field or Iran would turn to other companies.
02 October 2006 [21:40]

Chinese cars' assembling launched in Azerbaijan

According to Khanlar Fathiyev, head of Ganja Motor Works the first component parts for assembling of Chinese 'Changan' model have been delivered to the Ganja Motor Assembling Works.
02 October 2006 [21:24]

Trades at BICEX

The weighted average exchange prices made up 0,8747 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 2.
02 October 2006 [14:49]

Economic Development Ministry blames Barmek for delay of hand-over test

The Economic Development Ministry of Azerbaijan blames Barmek for the delay of the hand-over test.
02 October 2006 [14:47]

US-Azeri Business-Forum takes place in Baku

On Monday US-Azerbaijani Business-Forum has been held in Baku by United States-Azerbaijan Chamber of Commerce (USACC), AzPromo and American Chamber of Commerce (AmCham) and Azerbaijan Export and Investment Promotion Foundation (AzPromo).
02 October 2006 [13:15]

Gold deposits' exploration in Ordubad fails

Gold deposit exploration in Ordubad by Azerbaijan International Extractive Industry Operating Company was unproductive.
02 October 2006 [12:58]

Gas supply to some Baku districts cut off

Gas supply to some districts of Baku has been cut off.
01 October 2006 [15:13]

Milk processing factory to be build in Shaki

Under the terms of ?7,28 mln loan agreement signed between the International Bank of Azerbaijan /IBA/ and Netherlands's Robobank, Shaki Agro Industry Ltd has started building a milk processing factory in Orta Zerzid village of Shaki region.
01 October 2006 [15:09]

Georgian Energy Minister speaks of diversified energy supplies

Georgian Energy Minister Nika Gilauri said on September 30 that in 'case of necessity' Georgia will import electricity from Turkey, Armenia, Azerbaijan and Iran during winter.
01 October 2006 [15:06]

Caspian Moods exhibition at Kapellhaus

'Caspian Moods' exhibition was held September 30 at the Kapellhaus Germany-Azerbaijan Cultural Center.
01 October 2006 [15:02]

Israel and the regional oil axes

The United States has always tried, for strategic reasons, to build gas pipelines, excluding Russia's participation, in order to prevent Europe from depending on Russian gas, which currently covers one third of its total needs of gas.
01 October 2006 [12:19]

Iran says backs OPEC push for "acceptable" oil price

Iran will support any OPEC move to bring crude oil prices back to acceptable levels following a recent slide, Iran's OPEC Governor Hossein Kazempour Ardebili said on Sunday.
01 October 2006 [12:14]

Iran, Armenia to finalize Araz Dam contract

Iranian Energy Minister Parviz Fattah said Iran would finalize a contract with Armenia to construct a dam in Araz by the end of the current Iranian year, falling on March 20, 2007.
01 October 2006 [12:10]

Ankara determined to move Turkish-Georgian-Azeri rail project forward

"The three countries, Turkey, Georgia and Azerbaijan, are firm on carrying out this project with their own financial resources; they have enough funds to finance the railway's construction in one way or another," says a Turkish diplomat.
30 September 2006 [16:39]

Turkish Transportation Minister to leave for Baku on Sunday

Turkish Transportation Minister Binali Yildirim will leave for the Azeri capital of Baku on Sunday to participate in the Global Alliance for Information and Communication Technologies and Development (GAID) meeting.
30 September 2006 [14:18]

Japan may block loans for Iran oil project

Japan's government will refrain from extending loans or guaranteeing debts for development of Iran's giant Azadegan oil field by Japan's biggest oil developer if the United Nations Security Council imposes economic sanctions on Tehran.
30 September 2006 [14:05]

Turkey to buy $2.9 bln worth of F-16 Fighting Falcons

The Pentagon said on Friday Turkey may buy $2.9 billion worth of F-16 airplanes, while South Korea may purchase $1.5 billion in Patriot missile system equipment.
30 September 2006 [13:40]

Turkish company to build US$ 42 million sturgeon breeding complex in Turkmenistan

Turkmen President Saparmurat Niyazov has approved the decision of the tender commission of the State Committee for Fisheries and the conclusion of the expert commission on announcing the Turkish "AVKA Yapi Sanayi we Dis Tijaret Limited Sirketi" a winner of the international tender.
30 September 2006 [12:49]

Riga to host Azerbaijan-Lithuania business forum

The Azerbaijan-Lithuania business forum is to be held October 5 in Riga.
30 September 2006 [12:46]

SOCAR transfers money to AFFA's account

The recent problem between the State Oil Company of Azerbaijan Republic (SOCAR) and AFFA has been solved.
30 September 2006 [12:38]

Azercell to start BonusPay campaign next month

Azercell telecom will start a new campaign - BonusPay.
30 September 2006 [11:57]

Tariff Council rises public transportation tariffs

Azerbaijan's Tariff Council considered intraurban and suburban as well as Baku-Sumgayit passenger transportation tariffs.
30 September 2006 [10:31]

Trades at BICEX

The weighted average exchange price made up 0.8750 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange.
30 September 2006 [10:23]

Latvian-Azerbaijani business-forum to take place

Latvian-Azerbaijani business-forum will be held in Latvia on October 5.
30 September 2006 [09:36]

16 drowned ships lifted from Baku Bay

16 drowned ships were lifted from Baku Bay in the past two years, Letife Huseynova, Ecology and Natural Resources Ministry Monitoring Office chairwoman told.
29 September 2006 [19:14]

CAREC hosts seminar in Baku

Trade Policy Coordinating Committee of the Central Asia Regional Economic Cooperation Program (CAPEC) held a seminar at Hyatt Conference Center on September 28.
29 September 2006 [18:57]

CAREC conference to take place in Urumqi

In Urumqi (XUAR, China) the solemn opening of the 5th ministerial conference of Central Asian Regional Economic Cooperation (CAREC) will be held on October 20, Kazinform refers to press release of the Asian Development Bank.
29 September 2006 [16:49]

Huseyn Arabul: "I will take Barmek's skillful specialists to Turkey if they want"

Barmek-Azerbaijan President Huseyn Arabul will take most of the skilful engineers to Turkey after hand-over test finishes.
29 September 2006 [13:44]

President Aliyev confirms Azerbaijan-France economic commission

Azerbaijan's President Ilham Aliyev issued an executive order on confirmation of new composition of the Azerbaijan-France Economic Commission.
29 September 2006 [13:40]

GDP growth to hit 26.3% in 2007

The foreign trade turnover of Azerbaijan will hit $19.7bn next year.
29 September 2006 [10:29]

Memorandum on the Black Sea ring road signed

Memorandum on Ukraine's participation in the construction of a ring road the Black Sea has been signed at the Sochi meeting of Transportation Ministers of the Black Sea Economic Cooperation Organization (BSECO) member states.
29 September 2006 [10:25]

RAO EES delegation to visit Baku to discuss price and volume of electricity

RAO EES delegation will visit Baku on October 15. Azerenergy OJSC chief engineer Saleh Mammadov told that the delegation of the Unified Energy System of Russia will submit Baku the proposal on the price and volume of the energy to be provided for Azerbaijan.
29 September 2006 [10:07]

Kozeny ordered extradited from Bahamas

An investment promoter indicted in New York City on bribery charges was ordered extradited to the United States by a Bahamian judge on Thursday.
29 September 2006 [09:50]

Defense expenditure to reach US $900mn in 2007

Azerbaijan's defense expenditure is expected to be raised by 26, 7 percent on average in 2007.
29 September 2006 [09:34]

Trades at BICEX

The weighted average exchange price made up 0.8748 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange yesterday.
29 September 2006 [09:30]

Taxes Ministry finds irregularities in 25 908 trade facilities

Taxes Ministry Operational Control Department have to date examined 110 839 various kinds of trade facilities and found serious irregularities in 25 908 of them.
29 September 2006 [09:10]

CAREC workshop held in Baku

Yesterday workshop has been held in Baku within ADB-supported the Central Asia Regional Economic Cooperation.
29 September 2006 [09:05]

Azerbaijan exported 4 659 231.4 tonnes of crude oil in January-August

Azerbaijan has exported 4 659 231.4 tonnes of crude oil of $1.8968 503bn during January-August of the year.
29 September 2006 [09:02]

Property Management Committee sues 500 organizations

State Committee for the Management of the State Property brought a lawsuit against 500 organizations in Azerbaijan.
29 September 2006 [08:36]

Anne E. Derse: "Having commissioning BTC pipeline is an extraordinary achievement"

SOCAR President Rovnag Abdullayev has today received Anne E. Derse, US ambassador to Azerbaijan.
29 September 2006 [08:28]

AZN 5mn delivered to State Budget through investment competitions for privatization

AZN 5mn has been delivered to the State Budget from privatization through investment competitions since early this year and over 12 000 new jobs have been created in the privatized enterprises.
29 September 2006 [08:23]

Azerenergy staff doubled

Azerenergy OJSC has increased the number of employees by twice this year.
28 September 2006 [16:26]

Armenian State Budget to be one-fourth of Azerbaijan's

Armenian Government has approved the Draft State Budget for 2007 and submitted it to the Parliament. The incomes and expenditures of the State Budget are forecasted to be $1.545bn and $1.725bn respectively.
28 September 2006 [16:03]

Azerbaijan and Iran negotiating on construction of hydroelectric power station

Azerenergy is studying the hydroelectric potential of the Mountain Rivers.
28 September 2006 [13:37]

Iranian energy minister expected in Armenia

Energy Minister Parviz Fattah is to begin a visit to Armenia on Thursday to participate in the Iran-Armenia-Georgia trilateral meeting as well as follow up joint border projects and a bilateral agreement for supply of electricity to Armenia.