Business

05 May 2009 [09:09]

Turkish delegation due to visit Azerbaijan amid gas price allegations

News on rising gas prices to Turkey which caused considerable agitation in the country has not been confirmed yet.
04 May 2009 [17:16]

Azerbaijan Entrepreneurship Support Fund signed co-operation memos with Ukraine and Kazakhstan

The National Entrepreneurship Support Fund under the Ministry of Economic Development (MED) of Azerbaijan is expanding international partnership.
04 May 2009 [15:29]

Global warming causes melting of glaciers in northern region of Azerbaijan

Global warming caused melting of glaciers in the northern region of the country. Specialists consider that about 50 percent of the glaciers melted in Guba within a century.
04 May 2009 [15:18]

On May 29, Azerbaijan to sign a loan agreement with Japan on $260 million water project

The Japanese Financial Corporation (since 1 October 2008 it has included the Japanese International Co-operation Agency (JICA) and the Japanese Bank for International Co-operation (JBIC)) has discussed with Azerbaijan a draft loan agreement on a watersupply project.
04 May 2009 [12:59]

SOCAR ups oil pumping via Baku-Novorossiysk pipeline

In January-April, the State Oil Company of Azerbaijan Republic (SOCAR) exported roughly 834,000 tons of oil via Baku-Novorossiysk pipeline compared to over 408,000 tons in the same period in 2008, SOCAR said.
04 May 2009 [12:30]

Delhi-London aircraft makes emergency landing in Azerbaijan

A Boeing-777-300 ER passenger jet en route from Delhi to London made an emergency landing at Heydar Aliyev International Airport in Baku, said Maharram Safarli, Press Secretary of Azerbaijan Airlines (AzAL).
04 May 2009 [12:26]

Azerbaijani, Turkish, Georgian transport ministers to meet in Istanbul

Azerbaijani, Turkish and Georgian transport ministers will meet in Istanbul on May 9 as a part of the construction of the Baku-Tbilisi-Kars railway, Azerbaijani Transport Ministry said.
04 May 2009 [11:14]

Negotiations between heads of BBVB and Istanbul Stock Exchange held in Baku

Representatives of Istanbul Stock Exchange (ISE) in the person of ISE chairman Huseyn Erkan and securities market director Morat Bolat, and general director of Turkish Derivatives Exchange (TurkDEX) Chetin Ali Domnez visited the Baku Interbank Currency Exchange (BBVB).
04 May 2009 [10:48]

Baku-Antalya flight to be launched

Azerbaijan Airlines (AzAL) will operate a direct flight between Baku and Antalya from mid-June.
04 May 2009 [09:00]

Gas agreement between Russia, Azerbaijan not calls Nabucco into question: ambassador Gas agreement between Russia, Azerbaijan not calls Nabucco into question: ambassador

The gas agreement between Russia and Azerbaijan does not call implementation of the Nabucco gas pipeline project into question, Turkish Ambassador to Azerbaijan Hulusi Kilic said on May 2.
02 May 2009 [11:24]

Gas consumption reduces in Baku: Bakgaz

PU Bakgaz (distribution and sale of gas in Baku) supplies Baku's gas system with daily gas supply amounting 6.7 million cubic meters compared to 8 million cubic meters of average daily gas supply in March, A source close to supplies in PU said on May 1.
02 May 2009 [11:14]

OPEC forecasts increase in Azerbaijani oil shipment

OPEC forecasts that the Azerbaijani oil shipment will be increased by 70,000 barrels and reach 980,000 barrel daily in 2009.
01 May 2009 [12:43]

International organizations recognize Azerbaijan's economy stable, durable: head of Strategic Research Centre at Azerbaijani Presidential Administration

International organizations recognize Azerbaijan's economy stable and durable, head of the Strategic Research Centre at the Azerbaijani Presidential Administration said.
01 May 2009 [10:40]

Azerbaijani Economists Union to hold a conference ‘Karl Marx’s “Capital” – 150 Years Later’ in June

The idea of development of the global financial and economic crisis in accordance with the theses described by Karl Marx in his work “Capital” has found support in Azerbaijan.
01 May 2009 [09:21]

II Congress of the Confederation of Entrepreneurs of Azerbaijan held in a conflict environment

Yesterday, the Confederation of Entrepreneurs of Azerbaijan (ASK) held its second congress, which considered the development and support of business, realization of the rights of ASK as a representative of country's employers.
30 April 2009 [08:51]

Azerbaijan and Israel will enlarge trade turnover: ambassador

Azerbaijan and Israel will make efforts to increase trade turnover, which in January-March 2009 reached $180 million, said the Israeli Ambassador to Azerbaijan Arthur Lenk on April 29.
29 April 2009 [13:42]

Azerbaijan’s Minister of Transport received commander of US Transportation Command

Gen. Duncan J. McNabb, Commander of the U.S. Transportation Command, is visiting Azerbaijan.
29 April 2009 [13:20]

Azerbaijan, Turkey have principal agreements on gas price: minister

Turkey and Azerbaijan has coordinated terms of gas sold to Turkey from the Shah Deniz gas field by 70 percent, Turkish Energy Minister Hilmi Gular said.
29 April 2009 [12:40]

Economic expert: There is a subject to discuss a new price on Azerbaijani gas for Turkey

Day.Az interview with economic expert Vagif Sharifov.
29 April 2009 [12:12]

Azerbaijan is first participant of ADB program on impact of renewable energy sources

Environment minister Huseyn Bagirov of Azerbaijan received yesterday Joseph Weinstock, chief environment specialist of the Asian Development Bank’s Regional Department.
29 April 2009 [12:08]

SOCAR starts collecting waste metal after offshore oil and gas production works

State Oil Company of Azerbaijan (SOCAR) has begun works on waste metal collection after offshore oil and gas production.
29 April 2009 [11:56]

Qatar to study Azerbaijan's pension insurance system experience: ambassador

Qatar plans to study Azerbaijan's experience on pension insurance system, Qatari ambassador to Azerbaijan Mubarek bin Fahd Jasim Al-Thani said during his meeting with Azerbaijan Social Protection Fund Head Salim Muslumov.
28 April 2009 [16:03]

Import of animal derived products from Europe banned in Azerbaijan

Azerbaijan has today imposed a ban on the import of animal derived products from Europe, said spokesman for the State Veterinary Service under the Azerbaijan Agricultural Ministry Yolchu Khanveli.
28 April 2009 [15:02]

Azerbaijan, Netherlands agree about joint work in labor protection

Labor inspection under the Ministry of Labor and Social Protection of Azerbaijani Population launched joint project with Netherlands international consultative group "TNO - quality of life", inspection head Nabi Shukurlu said at the conference dedicated to labor protection day - April 28.
28 April 2009 [14:52]

Azerbaijan, Cuba to enhance economic cooperation

Prospects of Azerbaijan-Cuba economic cooperation will be discussed during Cuba's governmental delegation's visit to Azerbaijan in mid-May.
28 April 2009 [14:40]

Azerbaijani, Estonian tax agencies lay new basis for cooperation

The Azerbaijani Ministry of Taxes and the Estonian Taxes and Customs Board signed the memorandum on cooperation. The document was signed by Azerbaijani Minister of Taxes Fazil Mammadov and director general of the Estonian Taxes and Customs Board Enrico Aav in Baku.
28 April 2009 [14:04]

Azerbaijan Republic Ministry of Economic Development started to prepare the Action Plan to hasten the country’s development

Azerbaijan’s Minister of Economic Development held the meeting on implementation of presidential instructions given at the governmental session devoted to the results of country’s socio-economic development in the first quarter 2009.
28 April 2009 [12:22]

Azerbaijan significantly increased export potential: SOCAR

About 120,000 barrels of oil is transported via Azerbaijan per day, 40,000 barrels of which accounts for Tengia field of Kazakhstan, SOCAR Marketing and Economic Operations Department Head Nuru Guliyev said at a third Caspian Oil and Gas and Trade and Transport conference in Baku.
28 April 2009 [12:12]

Azerbaijan to adopt Germany’s experience when introducing actuarial settlement system in pension system

The Azerbaijan State Social Protection Fund (SSPF) delegation has completed its five-day visit to Germany.
28 April 2009 [12:10]

Iran offers new option for Caspian oil exports

Iran has offered the Caspian states to transport part of their crude oil exports to the world markets through the Indian Ocean via a pipeline linking Iranian Ports of Neka to Jask, Jaleel Salari, Iranian Oil Company (NICO) corporate planning officer, told APA-ECONOMICS.
28 April 2009 [11:35]

Azerbaijan’s raw materials allow production of 7-8 million tons of cement a year and decline from its import

The Ministry of Environment & Natural Resources of Azerbaijan has new prospective areas in the course of geological prospecting and survey works nearby southern slope of the Greater Caucasus, in the Minor Caucasus and Nakhchivan Autonomous Republic.
28 April 2009 [11:26]

Implementation of Shah Deniz -2 in Azerbaijan depends on gas transit via Turkey: StatoilHydro Azerbaijan

The issue of gas transit via Turkey and fuel supply to Europe must be solved as a part of the Shah Deniz-2, Statoil Hydro Azerbaijan Vice President for Gas Olav Skalmeras said.
28 April 2009 [10:57]

Azerbaijan imposes ban on import of animal products from America

On April 27, Azerbaijan imposed ban on import of cattle-breeding products from the entire American continent, Azerbaijani Agricultural Ministry Veterinary Service spokesperson Yolchu Khanvali said.
28 April 2009 [08:57]

Baku Interbank Currency Exchange turnover on SWAP deals exceeded $212 million

Turnover of swap deals period concluded at the Baku Interbank Currency Exchange (BBVB) keeps on growing.
27 April 2009 [14:55]

SOFAZ's assets hit $11bln: head of fund

The revenues of the State Oil Fund of Azerbaijan (SOFAZ) hit 13.492 billion manat and expenditures - 1,398,700,000 manat in the first quarter of 2009, SOFAZ executive director Shahmar Movsumov said in a press conference.
27 April 2009 [14:38]

WB corrects loan agreement on railroad project in Azerbaijan

WB has agreed with the Azerbaijani government about changes in the loan agreement on Azerbaijani railroad transit and trade.
27 April 2009 [14:06]

Baku to host 16th International Caspian Oil and Gas Exhibition Incorporating Refining and Petrochemicals

The largest oil and gas exhibition and conference in the Caspian region, ‘Caspian Oil and Gas Exhibition Incorporating Refining and Petrochemicals’ will take place from 2nd to 5th June in the Azerbaijani capital, Baku.
27 April 2009 [13:45]

Head office of “MuganBank” OJSC moves to a new building

The head office of “MuganBank” OJSC has moved to a new building, according to Day.Az.
27 April 2009 [13:36]

Azerbaijan, Greece to discuss energy cooperation

Greek Deputy Foreign Minister Miltiadis Varvitsiotis will visit Baku on May 12-13. The meeting will focus on energy, economic and political cooperation, the Greek embassy in Baku said.
27 April 2009 [13:30]

Online reservation system necessary for tourism development in Azerbaijan

Reports of international experts on tourism development in Azerbaijan were heard at the international conference on prospects of eco-tourism in Azerbaijan.
27 April 2009 [12:15]

Cost of Azerbaijani Shah Deniz project determined: minister

The second stage of development of the Shah Deniz gas-condensate field costs roughly $16-20 billion, Azerbaijani Industry and Energy Minister Natig Aliyev said at the third Caspian oil and gas trade-transport conference in Baku on April 27.
27 April 2009 [11:06]

Statements on environmental threats of Trans-Caspian energy project groundless: minister

Azerbaijan's contemporary energy policy is an important party of the country's foreign and domestic policy.
27 April 2009 [10:56]

Igdir Governor Saffet Karahisrali: Construction of Igdir airport will have a positive influence on relations with Azerbaijan

“The construction of airport in Igdir is a very important issue for the province”, Governor Saim Saffet Karahisarli told APA.
27 April 2009 [10:31]

Presentation Caspian Gas at the Crossroads was made at the Columbia University

Presentation entitled Caspian Gas at the Crossroads was made at the Columbia University's Center for Energy.
27 April 2009 [09:56]

Georgian-Azerbaijani business forum postponed

The Georgian-Azerbaijani business forum planned to be held in Tbilisi on April 27-29 has been postponed.
25 April 2009 [11:13]

President of Turkmenistan discussed prospects of cooperation in oil and gas sector with SOCAR

President of Azerbaijan Gurbangulu Berdimukhamedov received in Ashkhabat SOCAR Rovnag Abdullayev Friday, reports Novosti-Azerbaijan with reference to the press service for SOCAR.
25 April 2009 [08:42]

MP: Oil price will not be changed in the state budget of Azerbaijan

Milli Mejlis will make amendments and annexes to the laws on the State Budeget in 2009.
24 April 2009 [14:13]

Number of Nar Mobile’s GPRS roaming partners continues to increase

Nar Mobile has concluded the next GPRS roaming agreements with a number of countries of the world.
23 April 2009 [17:45]

Cut in consumer inflation continues in Azerbaijan

In March 2009, prices on consumer goods and tariffs on services decreased by 0.7 percent from February 2009 and increased by 8.3 percent from March 2008, Azerbaijan State Statistics Committee said on Apr. 23 19.
23 April 2009 [17:30]

Gas production increases in Azerbaijan in Jan-March

Azerbaijan produced around 11.4 million tons of oil and condensate in January-March, a 3.1-percent decrease from the same period in 2008, the State Statistics Committee said.
23 April 2009 [17:10]

IT production ups in Azerbaijan

In January-March 2009, the IT production and IT services hit 208.5 million manat (increase 3.9 percent), the State Statistics Committee of Azerbaijan reported.
23 April 2009 [17:05]

SOCAR to start exploratory drilling on perspective field in Caspian Sea in May

The State Oil Company of the Azerbaijani Republic (SOCAR) will start exploratory drilling on a perspective gas condensate Umid field in the Azerbaijani section of the Caspian Sea in May, a source from SOCAR said.
23 April 2009 [17:01]

SOCAR to launch platform in giant offshore field

The State Oil Company of Azerbaijan Republic (SOCAR) will put a new platform (No. 2415) into exploitation in the giant offshore Neft Dashlari field in the Azerbaijani sector of the Caspian sea soon, the company said.
23 April 2009 [15:54]

Central Bank of Azerbaijan, EBRD discuss cooperation perspectives

Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov and the European Bank for Reconstruction and Development Director on Financial Institutes and Private Stakes Nick Tesseyman discussed importance and perspectives of cooperation, the CBA said.
23 April 2009 [14:16]

UAE, Azerbaijan to cooperate on Baku-Tbilisi-Kars project

A Memorandum on cooperation in transport between Azerbaijan and the United Arab Emirates (UAE) envisages bilateral cooperation between the two countries in motor, air and railway transport, a source at the Azerbaijani Transport Ministry said on April 23.
23 April 2009 [13:56]

Azerbaijani oil prices down on Apr. 22

On Apr. 22 the price of AZERI LT CIF Augusta was $49.08 per barrel, or $0.35 per barrel down, compared to the previous day's price, according to the State Oil Company of Azerbaijan (SOCAR), which has produced Light Oil since 1997.
23 April 2009 [09:18]

Azerbaijan's successful policy ensured stabile socio-economic development: President Ilham Aliyev

New period of economic development began in Azerbaijan in 2009, AzTV television channel quoted Azerbaijani President Ilham Aliyev as saying at the Cabinet of Ministers meeting on results of socio-economic development in Q1 of 2009.
22 April 2009 [17:27]

WB mission in Baku

A World Bank mission on the Azerbaijan real estate registration project has arrived in Baku.
22 April 2009 [15:51]

Suspension of night flights not to affect cost of tickets or number of passengers: AZAL deputy president

Suspension of night flights in the Heydar Aliyev International Airport will not affect the cost of tickets or number of passengers, the Azerbaijan Airline Company (AZAL) first Deputy President Sabir Ilyasov said.
22 April 2009 [14:48]

SOCAR explores sea depth in several perspective fields in Caspian

The State Oil Company of the Azerbaijani Republic (SOCAR) explores soil stability in sea depth in perspective gas condensate areas of Umid and Babek fields, a source from SOCAR said.