Business

24 June 2010 [10:55]

"Azerbaijan is one of the most important countries for gas supply of Nabucco"

Azerbaijan is one of the most important countries to supply Nabucco pipeline with gas, said Managing Director of the Nabucco Gas Pipeline International GmbH Reinhard Mitschek at a briefing on June 23.
23 June 2010 [15:35]

IDB ready to increase portfolio by half billion of dollars in Azerbaijan

Since 1992 the Islamic Development Bank (IDB) has approved funding for 28 projects in the country totaling in $528 million, IDB President Ahmed Mohamed Ali said at the 35-th Annual Meeting of the IDB Board of Governors in Baku today.
23 June 2010 [15:06]

Bosnia and Herzegovina "interested" in benefiting from Azerbaijan's energy resources

An adviser to the President of Bosnia and Herzegovina has expressed hope his country would “soon become one of the consumers of Azerbaijan`s energy resources”.
23 June 2010 [14:26]

Building materials prices drop in Baku

The Participants of Property Market Public Union monitored prices of 38 brands of building materials in Baku in May.
23 June 2010 [09:56]

Global financial crisis 'had no impact' on Azerbaijan

Somalia's finance minister Abdurrahman Omar Osman has praised Azerbaijan's economic achievements, saying the country managed to maintain the development pace even despite the global financial crisis.
22 June 2010 [18:15]

IFC helps improve corporate governance practices in Azerbaijan's petrochemical sector

IFC, a member of the World Bank Group, is partnering with Azerbaijan Methanol Company to improve the company's governance practices, providing advice that will help establish good corporate governance in a key sector of Azerbaijan's economy, the petrochemical industry.
22 June 2010 [17:07]

SOCAR opens two new filling stations in Georgia

SOCAR continues to expand its network of petrol stations under the brand of SOCAR in Georgia. Tbilisi hosted the opening ceremony of two new filling stations June 22.
22 June 2010 [16:20]

Azerbaijan officially approves Euro-2 standards

Azerbaijan State Standardization, Metrology and Patents Committee has adopted Euro-2 standards, the state committee said.
22 June 2010 [10:45]

"Azerbaijan's digital television market ready for introduction of HDTV"

An interview with President of the cable television KATV1 Samir Gurbanov.
22 June 2010 [10:15]

Polish delegation to visit Azerbaijan for talks

Issues related to Azerbaijani-Polish economic cooperation will be discussed in Baku.
22 June 2010 [10:07]

"GE Oil&Gas" opens global services center in Azerbaijan

The Global Services center of the US Ge Oil&Gas Company opened in Baku on June 21st.
22 June 2010 [09:45]

Baku hosts 26th meeting of ADFIMI

The 26th meeting of the General Assembly of the Association of the National Development Financing Institutions (ADFIMI) was held in Azerbaijani capital on Monday.
22 June 2010 [09:23]

'Meeting to Develop the Road Map for Enhancing Intra-OIC Trade' held in Baku

As part of the 35th Annual Meeting of the Islamic Development Bank, a “Meeting to Develop the Road Map for Enhancing Intra-OIC Trade” was held on June 21.
21 June 2010 [18:48]

Islamic Development Bank "granted 130 million euros" to "Azerenerji"

The Islamic Development Bank has allocated 130 million euros to Azerenerji, major electricity supplier in Azerbaijan so far, the company`s president has told journalists.
21 June 2010 [17:55]

Baku hosts seminar on financing and opportunities provided by IDB group

A seminar on “Financing and Opportunities provided by the Islamic Development Bank Group” has been held in Azerbaijan's capital.
21 June 2010 [15:17]

GE commissions new services facility in Azerbaijan to support oil and gas growth in Caspian Sea region

Expanding its support for oil and gas producers that play a vital role in the economic growth of the Caspian Sea Region, GE Oil & Gas today officially opened a new Global Services facility south of Baku in the Republic of Azerbaijan, the company reported.
21 June 2010 [10:35]

Pipelines ship 19.9 million tons of crude in Azerbaijan

Oil pipelines have transported 19.9 million tons over the past five months this year, according to the State Stats Committee.
21 June 2010 [10:12]

Russia's Gazprom ready to buy all of Azerbaijan's gas?

Russian gas giant Gazprom is prepared to purchase all of Azerbaijan's gas volume, the company's CEO announced on Saturday.
21 June 2010 [09:10]

Baku hosts meeting of IDB board of executive directors

The 268th meeting of the Islamic Development Bank`s Board of Executive Directors presided over by IDB President Ahmed Mohammad Ali started here on Sunday.
19 June 2010 [12:09]

"No great need to introduce Islamic banking in banking sector in Azerbaijan"

There is no great need to introduce Islamic banking in the banking sector in Azerbaijan, the chairman of the State Securities Committee of Azerbaijan Rufat Aslanli said.
19 June 2010 [10:15]

Italian businessmen visit Azerbaijan

A group of Italian businessmen led by Azerbaijan's honorary consul to Genoa Ms. Margarita Kosta visited Baku on June 17-18.
19 June 2010 [09:23]

World Bank and IMF confirm Azerbaijan escapes impact of global crisis

Johns Hopkins University's Central-Asia and Caucasus Institute hosted a conference “Impact of the global financial crisis on the Central Asian and Caucasus countries.”
18 June 2010 [17:35]

Austrian FM: Azerbaijan plays key role in diversification of gas supply sources

The Nabucco project and particularly, Azerbaijan plays a key role in Austria's endeavour to diversify its gas sources and delivery routes, Austrian Foreign Minister Michael Spindelegger said in an interview with Trend in the run up to his Baku visit scheduled for June 22-24.
18 June 2010 [16:35]

Belarus interested in participating in project of East-West information superhighway initiated by Azerbaijan

The Belarusian side expresses its interest in participation in the project of establishing a transnational information superhighway "East-West", the Ministry of Communications and Information Technologies of Azerbaijan said.
18 June 2010 [14:10]

Azerbaijan proposes WTO to hold a meeting

Azerbaijan proposes member-countries of the World Trade Organization (WTO) to hold a separate meeting of a working group on services, proposals, the negotiation group head, Azerbaijani deputy foreign minister Mahmud Mammadguliyev said.
18 June 2010 [13:11]

Jobless rate drops in Azerbaijan

As many as 40, 205 people have been registered as unemployed in Azerbaijan as of June 1, 2010, Azerbaijan State Statistics Committee said.
18 June 2010 [12:45]

Turkish businessmen visit Azerbaijan National Confederation of Entrepreneurs

Secretary General of the National Confederation of Entrepreneurs (Employers`) Organizations of Azerbaijan (ASK) Mammadali Afandiyev met visiting Turkish businessmen.
17 June 2010 [18:05]

"Baltika" seeks to retain leading position in Azerbaijan's beer market

Baltika Company occupies 73% of the Azerbaijani beer market, which accounts for 98 percent of beer sales in the Azerbaijani shopping centers, Company President Anton Artemiev said at the news conference on the 20th anniversary of Baltika in St. Petersburg today.
17 June 2010 [17:04]

"Bank Melli İran ready to expand economic relations between Azerbaijan and Iran"

An interview with Chairman of the Board and Managing Director of Bank Melli Iran, Mahmoud Reza Khavari.
17 June 2010 [11:35]

Czech beer will be produced in Azerbaijan

The BAKI-PRAQA brewery of the Czech company DESTILA Brno was officially opened in the Novkhani village of Baku June 16, the Czech Embassy in Azerbaijan reported.
17 June 2010 [10:56]

OPEC increases Azerbaijani oil production forecasts

OPEC increased its Azerbaijani oil production forecasts in 2010 by 60,000 bpd to 1.08 million bpd. The figure is 10,000 bpd more than the figure forecast by OPEC last month.
17 June 2010 [10:45]

Director of SOCAR's Vienna office meets Nabucco Gas Pipeline International Gmbh Managing Director

Director of SOCAR Vienna Office Gulmirza Javadov met with Managing director of Nabucco Gas Pipeline International GmbH Reinhard Mitschek.
16 June 2010 [12:45]

Azerbaijan exploring opportunities to invest in Pakistan

Azerbaijan is exploring opportunities to invest in Pakistan, Azerbaijani Foreign Minister Elmar Mammadyarov said during his trip to Islamabad, according to the Associated Press of Pakistan.
16 June 2010 [12:16]

Azerbaijani State Committee bans sale of 47 product trademarks

The Azerbaijani State Committee for Standardization, Metrology and Patents imposed a ban on the manufacture and sale of 47 types of products in January-May, the committee reported.
16 June 2010 [12:07]

Azerbaijan increases state budget incomes

Azerbaijan was offered to be increased the state budget incomes by AZN 1 490 mln, expenditures by AZN 1 011.3 mln, Standing Commission for Economic Policy of Milli Majlis Nazim Mammadov said.
14 June 2010 [12:17]

Ukraine set to buy Azerbaijani natural gas

Ukraine plans to purchase nearly 5 billion cubic meters of Azerbaijani gas.
12 June 2010 [10:27]

World Bank poised to lend USD 1 billion to Azerbaijan

The World Bank intends to set aside a $1 billion loan to Azerbaijan as part of a new strategy.
11 June 2010 [17:52]

IFC presents manual on management of family firms to Azerbaijan

On May 11, International Finance Corporation (IFC) presented manual on management of family firms, containing recommendations on how to improve their operations and ensure its duration in Azerbaijan.
11 June 2010 [10:44]

European Fund for Southeast Europe provides $5m loan to Azerbaijan's Bank Respublika

The European Fund for Southeast Europe (EFSE) has signed a loan agreement of $ 5million with Azerbaijan's Bank Respublika for on-lending to small business during its annual meeting in Ohrid, Macedonia.
10 June 2010 [17:30]

SOCAR gets license for construction of oil refinery in Turkey

SOCAR has received a license from the regulator of the energy market in Turkey for the construction of a refinery with capacity of 10 million tons per year, near the petrochemical complex Petkim, in which SOCAR has a stake.
10 June 2010 [15:07]

Azerbaijan embassy to Italy holds presentation on economic achievements

Azerbaijan Embassy to Italy held a presentation on the country`s economic achievements in Malta capital Valetta.
10 June 2010 [13:25]

Agreements signed with Azerbaijan revive the Nabucco project

The agreements signed with Azerbaijan revived the Nabucco project, Turkish minister of energy and natural resources Taner Yildiz told journalists in Ankara.