Business

17 May 2006 [13:18]

Kazakhstan confirms BTC role

Kazakhstan has made up its mind about joining the Baku-Tbilisi-Ceyhan (BTC) main export pipeline to take Caspian oil to world markets.
17 May 2006 [13:09]

AirBaltic launches Azeri flights

Latvian airline AirBaltic announced the opening of direct flights from Riga to Baku at the official reception at the Excelsior Hotel on Monday.
17 May 2006 [13:05]

Deloitte & Touche to examine Azeri oil revenue transparency

The reports submitted by the stakeholders of the Extractive Industries Transparency Initiative (EITI) for 2005 will be reviewed by Deloitte & Touche auditing company.
17 May 2006 [13:04]

Aviation summit looks at cargo transit prospects

A summit on Caspian Eurasia Cargo Transport started in Baku on Tuesday.
17 May 2006 [09:08]

Jerusalem Post: "Azerbaijan to open trade office in Israel"

Azerbaijan plans to open a trade office in Israel in the coming year, according to Azerbaijan officials.
17 May 2006 [08:54]

Tariff Council to reconsider rise in public transport fare within next days

Namig Hasanov, Head of Ministry of Transport Secretariat, states that businessmen and Baku City Executive Board applied to Tariff Council for this case last week.
17 May 2006 [08:47]

Alikhan Malikov: "Gas delivery to cities and regions with low gas bills collection percentage may be stopped"

Alikhan Malikov, Azerigas Closed Joint Stock Company (CJSC) Director, held press-conference on current problems such as disbursement for natural gas, problems appearing in this realm and other relevant issues.
17 May 2006 [08:30]

The Finance Ministry is against combining taxes on property and land

Experts in The Finance Ministry vote against creating common tax on property through combining taxes on property and land considering this idea a useless offer.
17 May 2006 [08:21]

Turkish Naturel aims to enter markets in Azerbaijan, then in Russia and Central Asia

Turkish company Naturel plans to open trade place in Baku in the near future with the aim of organizing its products' sales in Azerbaijan.
16 May 2006 [22:05]

Azerbaijani delegation to partake in EBRD Board Directors' annual meeting

The 15th annual meeting of the Board of Directors of the European Bank of Reconstruction and Development (EBRD) will take place in London, May 21-22, according to press service of the Ministry of Economic development of Azerbaijan.
16 May 2006 [21:46]

United Press International: "Belarus mulls oil supplies from Azerbaijan"

Belarus said it will begin studying prospects of supplies of oil and oil products from Azerbaijan.
16 May 2006 [20:38]

President Aliyev ratifies Industry and Energy Ministry Regulations

Azerbaijan's President Ilham Aliyev issued a decree on ratification of the Regulations of Industry and Energy Ministry.
16 May 2006 [20:37]

Jahangir Asgharov: "There will be five international airports in Azerbaijan"

"There will be five international airports in Azerbaijan," said Jahangir Asgharov, general manager of the Azerbaijan Airlines State Concern (AzAL).
16 May 2006 [20:35]

Loan agreement of $200 million on roads reconstruction signed between Azerbaijan and WB

$200 million cost loan agreement on financing the reconstruction of Alat-Astara part of Baku-Astara highway and on repairs of Baku-Shamakhi road has today been signed between Azerbaijani government and The World Bank (WB).
16 May 2006 [20:29]

Georgia, Azerbaijan and Turkey transport ministers will meet in June

Works in Baku-Tbilisi-Ceyhan (BTC) oil-pipeline have completed. The first oil will be filled in tankers in the end of May early in June, Prime Minister Artur Rasizade has told journalists.
16 May 2006 [20:18]

Official commissioning of Bilajari flushing-steaming station

An official ceremony on commissioning of Azerbaijan State Railway (ASR) Bilajari flushing and steaming station was held today.
16 May 2006 [09:49]

AZN 516,4 million T-bills placed in BSE

Baku Stock Exchange (BSE) hosted the auction on Ministry of Finance T-bills placement with the state registration number 10301013S yesterday.
16 May 2006 [08:59]

Sumgait Industrial Development Program to be made up

Program of industrial enterprises development in Sumgait is worked out.
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.