Business

31 March 2005 [16:10]

Talks with Thomas De La Rue to start next week

Baku will host consultations on issue of new denominated banknotes next week.
31 March 2005 [15:53]

All the wagons kept in borderline will be let to Georgia till the end of the week

22 wagons are kept in Boyuk Kesik station of Georgia-Azerbaijan border.
31 March 2005 [15:51]

PC assembly started in Ganja

"Ganja Industrial Production" joint-stock company, which produces calculators, children's games, electronic watch, telephones, TV sets and cash registers, has begun assembling the computers.
30 March 2005 [14:05]

Privatization of major mobile operator Azercell due in first half-year of 2005

The privatization of Azercell Joint-Venture is probable in the first year of 2005, Farhad Aliyev, the Minister for Economic Development, told Trend on Tuesday.
30 March 2005 [13:54]

Maximal transparency in gas sector of Azerbaijan, human watchdog

It is necessary to ensure transparency in the production, transportation and distribution of natural gas in Azerbaijan, as well as a process of collection of charges from consumers, Leyla Yunus, the Director of Institute of Peace and Democracy, told the roundtable held on Monday on the problem of gas supply to the country.
30 March 2005 [13:49]

Azerbaijan will face with problem gas insufficiency next winter season

Azerbaijan might face with a problem of insufficiency in gas supply in the winter period of 2005-2006, Etibar Pirverdiyev, the President of Azerenergy JSC, told journalists.
29 March 2005 [15:57]

Azerbaijan will purchase gas from Shah-Daniz

The Azerbaijani government an agreement with a consortium of Shah-Daniz gas project on purchase of natural gas from his field, Majid Karimov, the Minister for Industry and Energy, told Trend.
29 March 2005 [15:53]

Azeri Micro-Financing Bank alloted $23 mln. of credit

The Azerbaijan Micro-Financing Bank (AMFB) allocated $23m worth of credit. The Bank has recently allotted 10-month credit in the amount of $3,000 with 6 months for purchase of cargo automobile.
29 March 2005 [15:09]

Azeri government seeking opportunities to pay indemnity to citizens losing houses due to construction of U.S. Embassy building

The Azerbaijani Finance Ministry considers the compensation payments to people whose houses were raised to ground as a result of construction of the U.S. Embassy building are excessively increased, Avaz Alakbarov, the Azerbaijani Finance Ministry, told Trend.
26 March 2005 [16:17]

Shahdeniz to yearly produce 8,4 bln cubic meters of gas

Construction of 3 underwater pipelines 100 km in length each to pump gas extracted from Shahdeniz field to Sangachal terminal will start in June 2005, according to Azerbaijan International Operating Company.
25 March 2005 [17:21]

U.S. supports Kazakhstan's joining to BTC

The United States backs Kazakhstan's joining to the Baku-Tbilisi-Ceyhan main export oil pipeline, John Ordway, the U.S. Ambassador to Kazakhstan, told a news conference in Almaty.
25 March 2005 [17:12]

According to US state department, Azerbaijan does not face with money laundering problem

Meantime, Azerbaijan does not face with money laundering problem in big scope.
25 March 2005 [17:09]

Railway prepares documents to receive EBRD credit

The Azerbaijan State Railway Department (ASRD) is preparing technical ocuments to receive financing from the European Bank for Reconstruction and Development (EBRD).
24 March 2005 [15:01]

New air-terminal opened in Baku

A new cargo air terminal was opened at the Heydar Aliyev International Airport on Wednesday with Azerbaijani President Ilham Aliyev, Trend reports.
24 March 2005 [14:59]

Expenses for Shahdeniz expected 4.1 billion USD

Three oil wells of preliminary drilling have been bored on 'Shahdeniz' oilfield (Azerbaijani sector of the Caspian) at the length of 40 km from offshore, Azerbaijan International Operating Company (AIOC) reports.
24 March 2005 [14:33]

US company refuses from drilling on Zafar-Mashal field

ExxonMobil, a US company, has refused from drilling the second exploration well on the Zafar-Mashal, Natig Aliyev, the President of the State Oil Company of Azerbaijan (SOCAR) told journalists on Wednesday.
24 March 2005 [14:18]

SOCAR will be unable to pump oil via northern route in Apr-Jun

The State Oil Company of Azerbaijan (SOCAR) wil be unable to pump its oil via the Baku-Novorossiysk oil pipeline in April-June 2005 due to load of Azerbaijani quote with oil of the Azerbaijan International Operating Company (AIOC), Natik Aliyev, the President of SOCAR, told Trend.
22 March 2005 [21:26]

President of Halliburton met with Ilham Aliyev

President of the Azerbaijan Republic Ilham Aliyev on March 21 at the President Palace has received Mr. David Lesar, president of the Halliburton Company of the United States.
22 March 2005 [03:53]

Azerbaijan may consider attracting foreign forces for guarding of BTC

"If for guard of oil BTC ?i?eline the necessity of attracting international ?arty arises, then we may consider this issue".
22 March 2005 [03:49]

SOCAR comissions 8 new wells

The oil and gas ?roducing units (OGPU) of Azneft Production Association of the State Oil Com?any of Azerbaijan (SOCAR) ?ut into ex?loitation 8 wells in January to February, or 1 well less than the target. The wells were commissioned after drilling, Trend re?orts.
19 March 2005 [03:18]

EBRD ready to assist insurance market in Azerbaijan

The Euro?ean Bank for Reconstruction and Develo?ment (EBRD) is ready to consider o??ortunities for assistance in insurance market in Azerbaijan, if requested.
19 March 2005 [02:49]

Iranian Air Company launches new flights in Azerbaijan

Baku Office of Iran Air announced on its ?lans to o?en launch the first regular flight Tebriz-Baku on 28 March, Iranian agency IRNA re?orts.
19 March 2005 [02:47]

Pubic budget revenues implemented 93.4%, expenses 76.7%

The Finance Ministry of Azerbaijan ?ublicized o?erative data on the execution of the Public Budget in January to February 2005.
18 March 2005 [19:09]

Employees of Azerbaijan Airlines to be trained in Egypt

10 em?loyees of technical ?ersonnel of Azerbaijan airlines are to be trained in Egy?t from 7 to 21 A?ril in Cairo.
18 March 2005 [02:12]

Average monthly salary rises by 21.7% in Azerbaijan

In January to February of 2005, average monthly salary in Azerbaijan com?rised 533.000 manats ($108,727), 21.7% u? as com?ared to 2004, the State Statistics Committee told Trend.
18 March 2005 [02:08]

In BoxMore than 670 million dollars were invested to the economy in the first two months of this year

3.3 trillion manats (672.1 million dollars) were invested to the country economy in the first two months of the year, that is 5.2% more in comparison with January-February in 2004.
18 March 2005 [01:47]

Azeri GDP rose 8.5% in January-February 2005

In January to February 2005 the amount of the Gross Domestic Product of Azerbaijan has comprised 7031.8bn manats ($1434.4m at average exchange rate of 4902.2 AzM/USD fixed in January and February.
18 March 2005 [01:42]

Second int'l automobile exhibition started in Baku

The second international exhibition Autoshow opened at the Baku Sports and Exhibition Palace named after Heydar Aliyev on Wednesday, Trend reports.
16 March 2005 [22:40]

Cargo avia-terminal to open in Baku Airport named after Heydar Aliyev

A new cargo avia-terminal will be opened in the Baku international airport named after Heydar Aliyev on 23 March. President was invited honor the ceremony, Trend reports.
16 March 2005 [22:31]

Azerbaijan appeals for assistance of EBRD in insurance sector

The Azerbaijani Finance Ministry is ready to use assistance of the European Bank for Reconstruction and Development (EBRD) in the development insurance in the country.
16 March 2005 [14:06]

German Bank confirms a concept of project on rehabilitation of water supply system in Ganja, Shaki

German bank for development KfW has accorded with Azerbaijan a concept of the project on the rehabilitation of water supply system in Ganja and Shaki.
16 March 2005 [13:51]

Salyan Oil eager to set up exploitation well drilling

Salyan Oil Limited (SOL), an operating company involved in the development of Kursangi-Garabaghly onshore fields in Azerbaijan, plans to set up drilling of exploitation wells with the project depth of 3300-3400 meters in April 2005, Trend reports.
16 March 2005 [00:58]

98% of word processors manufactured on INTEL technologies in Azerbaijan

86% of computers produced in the world and 98% produced in Azerbaijan are based on INTEL technologies.
15 March 2005 [21:04]

Azerbaijan to attend int'l exhibition in Cairo

Azerbaijan is to be presented for the first time after getting independence at Cairo international trade fair, 15-25 March in the capital of Egypt.
15 March 2005 [20:09]

World Bank is operating some projects in Azerbaijan

"Technical aid to finance sector" project by the financial support of World Bank (WB) is being realized in the country.
15 March 2005 [19:52]

Robbery in supply base of BTC main export pipeline

Great amount of non-ferrous metals were stolen from supply base of Baku-Tbilisi-Ceyhan main export pipeline situating in Marneuli region.
13 March 2005 [01:36]

Azeri international automobile exhibition due

The second international exhibition Autoshow will be held at the Baku Sports and Exhibition Palace on 16-19 March 2005.
13 March 2005 [01:18]

TACIS to present to Azerbaijan two new reviews on local legislation

The European Union (EU) Program on Technical Assistance, TACIS, on Azerbaijan has prepared and will submit shortly the Ministries and departments two new reviews on local legislation.
13 March 2005 [01:14]

Official Ottawa warns Canadian company intending to develop debatable field in Caspian

The Canadian government has warned Buried Hill Energy, a Canadian company, which intended to develop in the debatable field in the Caspian, Matin Mirza, the spokesman for the Azerbaijani Foreign Ministry told a news conference on Friday.
13 March 2005 [01:01]

New cost of Shah-Deniz project to be defined

The final cost of the Shah-Daniz project will be defined in a meeting of the shareholders on 31 March, Robert D. Kelly, the President of Shah Deniz project, told a news conference on Friday.
12 March 2005 [02:16]

14 procedures needed to start business activity in Azerbaijan

14 procedures ought to be passed through to start a business activity in Azerbaijan.
11 March 2005 [23:24]

Mission of World Bank to come to Baku

In the second half of March mission headed by Christian Peterson-economist of World Bank (WB) over South Caucasus region will pay an official visit to Baku.
11 March 2005 [22:18]

Caspian oil and gas reserves assume special significance for U.S.

"Big oil and gas reserves of the Caspian region are of significant importance for USA".
11 March 2005 [20:39]

Azeri-US company will not drill a well in Turkmenistan

The Azerbaijani-US joint venture (JV) Caspian Drilling Company (CDC) was obliged to refuse from drilling an exploration well in the Turkmen section of the Caspian.
11 March 2005 [18:11]

US ambassador, Chairman of National Bank and USAID project chief sign work-plan

The US government and the Azerbaijan government formally signed a work-plan defining the mission of the Banking Supervision Project on Thursday, the US embassy in Baku told Trend.
11 March 2005 [17:43]

Loan agreements between government of Azerbaijan and Islamic Development Bank signed

Two loan agreements were signed between government of Azerbaijan and Islamic Development Bank (IBD) on 10 March in Jeddah (Saudi Arabia - SA) Agency Trend informs, documents are signed within frames of the official visit of the president of Azerbaijan Ilham Aliyev to SA.
11 March 2005 [17:21]

Employees of of "Salyan oil" held protection strike

Yestyerday workers of "Salyan oil" Operation Company have held 3-hour protest action demanding pay rise.
11 March 2005 [17:16]

Conference dedicated to the "Security of Information systems" in Baku

Conference dedicated to the "Security of Information systems" will be held in Baku on March, 11.
10 March 2005 [14:44]

The 1st Azerbaijan International Exhibition on Cleaning and Hygiene Facilities, Chemical Industry, Household Equipment and Electronics to be held today

The 1st Azerbaijan International Exhibition on Cleaning and Hygiene Facilities, Chemical Industry, Household Equipment and Electronics will be held in Sport and Exhibition Complex named after Heydar Aliyev today.
10 March 2005 [14:43]

Salyan Oil treats polluted area

Salyan Oil Limited (SOL), an operating company involved in the development of Kursangi-Garabaghly onshore fields, has treated the polluted area, which was a topic of legal proceedings between the company and Inspection on State Control over Environment and Use of Natural Resources under the Ecology Ministry.
10 March 2005 [14:41]

AIOC produces over 1m tons of oil in Jan-Feb

In January to February 2005 AIOC produced 1,148 million tons of oil from the Azeri-Chirag-Gunashli contract area, exceeding the last year figure by (1,033 million tons).
08 March 2005 [10:17]

Strategic pipelines under threat of Armenian terror

"The oil pipelines Baku-Tbilisi-Ceyhan (BTC), Baku-Novorossiysk and Baku-Supsa are under the threat of Armenian terror and the Azerbaijani government should take urgent measures to prevent them," Abid Sharifov, the Azerbaijani Vice Premier, also the chairman of the State Commission on Emergencies, told a seminar on management of emergencies in the sphere of civil defense organized by French Embasy in Baku on Monday.
08 March 2005 [09:28]

Next meeting of Azerbaijan-Turkey inter-governmental economical commission to be held in Ankara

Next meeting of Azerbaijan-Turkey inter-governmental economical commission will be held in Ankara on April 22-24.
05 March 2005 [17:06]

New increasing of prices for gas is a correct decision of government, a foreign expert concluded

Despite the last increasing of prices for natural gas its cost doesn't correspond to the import from Russian system.
05 March 2005 [16:35]

World bank increases volumes of financing on energy project

The rising of price for SCADA system introduction is connected with expansion of project. As "Azenerji" reported, it is provided to add networks the realization of which is planned in future, which will require additional funds.
05 March 2005 [15:59]

Azeri oil export starts

The Azerbaijan International Operating Company (AIOC), operated by BP, today started Central Azeri crude oil export from the Sangachal terminal.
05 March 2005 [15:52]

Forecast of tea production in Azerbaijan for 2005 is 1100-1200 thousand tons

In 2005 the production of tea in Azerbaijan forecasted as 1100-1200 tons. As the Ministry of Agriculture reported, for the present time the total area of tea plantations in Azerbaijan makes 3.7 hectares.
05 March 2005 [15:50]

116 wagons kept in Azerbaijan-Georgia border

137 of 284 corn wagons brought to Baku were unloaded.
05 March 2005 [15:45]

International Bank of Azerbaijan can be privatized by open auction

Azerbaijan in fact has reconsidered the plan of privatization of the state share of participation in the capital of International Bank of Azerbaijan.
05 March 2005 [15:24]

Azeri oil export starts from Sangachal terminal

The Azerbaijan International Operating Company (AIOC), operated by bp, started Central Azeri crude oil export from the Sangachal terminal on March 4, reported bp press-service.
04 March 2005 [09:35]

President approved the signing of contract with designers of new manat

President of Azerbaijan Ilham Aliyev approved the signing of agreement with designers of new banknotes of national currency.
03 March 2005 [09:35]

Azercell has 1.340.000 subscribers

The number of Turkish-Azerbaijan joint venture Azercell Telecom founded in 1996 increases.
03 March 2005 [09:17]

Gas price increased almost 3 times in Azerbaijan

Azerigaz increased the price on natural.
03 March 2005 [09:15]

Benefits for low-income people increased in Azerbaijan

The benefits of some low-income people were increased in Azerbaijan from 1 March 2005 in compliance with the relevant presidential decree.
03 March 2005 [09:02]

Azerbaijan releases 19,9 mln sturgeon fries into the Caspian

Ten fish-factories of the Ministry of Ecology and Natural Resources of Azerbaijan released 456,3 million fries of different species of fish into the Caspian Sea, Kura river and inner reservoirs in 2004.
02 March 2005 [08:52]

Second International Automobile Exhibition to be held in Baku

From March 16 to 19 Second International Automobile Exhibition will be held in Baku.
02 March 2005 [07:43]

Ganja motor automobile plant to increase its production share of local automobile assemblage

Ganja automobile plant intends to increase its production share of local automobile production.
01 March 2005 [15:03]

The basic inflation in Azerbaijan is 1%

Only 45.4% of common inflation in Azerbaijan (2.5%) in January had been caused by monetary factors. As the National Bank of Azerbaijan informed, in January the basic inflation was 1% towards December and 6.8% towards February 2004.
01 March 2005 [15:01]

International monetary fund mission to visit Azerbaijan

The mission of International Monetary Fund (IMF) will arrive to Azerbaijan March 7 this year.
01 March 2005 [14:58]

SOCAR searches for new hydrocarbon deposits

SOCAR conducts offshore and onshore prospecting for revealing new hydrocarbon deposits.
27 February 2005 [09:12]

ITECA Caspian is planning to organize more exhibitions in Baku

The 1st Azerbaijan International Consumer Electronics and Household Appliances Exhibition SEM Azerbaijan 2005 organized by UK ITE Group plc and its exclusive partner in Azerbaijan Iteca Caspian will be held at the Baku Sport-Concert Complex from March 10 to 12.
26 February 2005 [10:15]

BTC Co opened its web site

BTC Co has opened its new web site.
26 February 2005 [10:06]

Representative of World Bank arrived to Baku with the aim of familiarizing with fulfillment of 2 projects

The director of World Bank projects of "Reconstruction and completion of irrigation and drainage infrastructure building" and "Improvement of irrigation distribution systems and control" Up Stalterdyke arrived to Baku with the aim of familiarizing with execution of works.
26 February 2005 [10:02]

More Russian oil companies want to use BTC to reach world markets

The number of Russian private petroleum companies who wish to use Baku-Tbilisi-Ceyhan pipeline to deliver their oil to the world markets increases.
26 February 2005 [09:39]

Constructions near railways will be destroyed

According to the decision of the Cabinet of Ministers "rules of using lands of Railway transport appointment and special security zone of railways, as well as norms of land share of railways and zones of sanitary security" was approved.