Business

09 January 2009 [12:30]

Greek Development Minister: "We should not panic about the gas conflict between Moscow and Kiev, we can appeal to Azerbaijan with a request to raise gas supplies"

"I do not rule out that the gas shortage can be compensated through supplies from Azerbaijan", said Greek Development Minister Christos Folias at a press conference in Athens, according to AzerTac.
09 January 2009 [12:17]

Italy to import gas from Azerbaijan

Italy intends to import gas from Azerbaijan, said executive director of the Italian energy company Edison SpA Umberto Guadrino, according to AzerTac.
09 January 2009 [10:53]

Natik Aliyev: "Azerbaijan has received proposals of Turkey and Greece on purchases of natural gas"

Azerbaijan's Minister of Energy and Industry Natik Aliyev announced that the Azerbaijani side has received proposals from Turkey and Greece on purchases of natural gas.
08 January 2009 [13:22]

Alekper Mamedov: "Government must take a number of measures to reduce influence of global crisis on the private sector of Azerbaijan"

I think crisis has already started to influence Azerbaijan, considers Alekper Mamedov, chairman of the Azerbaijan National Confederation of entrepreneurs (Employers).
08 January 2009 [12:32]

Sabit Baghirov: "Russia attempts to prevent supply of Azerbaijani and Turkmen gas to European markets by all means"

Russia attempts to prevent the implementation of projects bypassing it but I think it will fail, said head of the Center of Economic and Political Studies Sabit Baghirov.
08 January 2009 [11:20]

New head of Turkish trade representative office in Baku appointed

Gazi Bilgin has been appointed the new head of the Turkish Trade Representative Office under the Turkish Embassy in Azerbaijan, reports Day.Az with reference to AzerTac.
08 January 2009 [11:08]

Azerbaijan's real estate market suffers from global financial crisis

The real estate market, which is among the most developing and fast growing economic sectors of Azerbaijan, was also hit by the global financial crisis.
08 January 2009 [10:28]

Five star hotels under construction in one of the villages of Ismayilli region, Azerbaijan

A complex of five star hotels is under construction in Ismayilli region of Azerbaijan, reports Day.Az with reference to AzerTac.
07 January 2009 [17:02]

The Guardian publishes article about problems in implementation of Nabucco pipeline

The Guardian has published an article about difficulties in implementation of Nabucco pipeline, entitled: "Europe's plan for alternative pipeline faces big problems".
07 January 2009 [15:50]

Azerbaijan ranking 9th among post-Soviet countries for devaluation of national currently against US dollar

Belarus is leading among the former USSR states for devaluation of national currency against US dollar.
07 January 2009 [11:13]

BTC pipes 70 mln tons of Caspian oil to world markets

Nearly 70 million tons of crude oil have been transported via Baku-Tblisi-Ceyhan (BTC) Pipeline from June 2006 to the end of 2008, Anadolu news agency reported on Tuesday.
06 January 2009 [16:25]

International Bank of Azerbaijan opens its affiliate in New York

According to the press service for the International Bank of Azerbaijan, on January 2 of 2009 the IBA representative office in New York started its official operation.
06 January 2009 [15:06]

Turkey buys 17 mln cubic meters of Azerbaijani natural gas per day

The daily volume of natural gas, purchased by Turkey from Azerbaijan, makes 17,000,000 cubic meters, reports Day.Az with reference to Turkish Haberler.com.
06 January 2009 [11:56]

Ilham Shaban: "Rise in cost of oil on world market is a seasonal event"

The cost of an oil barrel made $48.93 in London an hour ago.
06 January 2009 [10:10]

SOCAR exports 1,200,000 tons of oil by Baku-Novorossiysk pipeline in 2008

In 2008 the SOCAR department of marketing and economic operations exported 1,196,547 tons of crude from the Russian port of Novorossiysk.
05 January 2009 [15:36]

New standard on oil products applied in Georgia from new year

A new standard on oil products has been applied in Georgia by a decision of the Georgian powers from January 1.
05 January 2009 [13:20]

Priority of NBA's monetary policy for 2009 is maintenance of macroeconomic stability

The monetary policy of the National Bank of Azerbaijan for 2009 will be intended for the further support of macroeconomic stability and provision of protection of banking system's financial stability.
05 January 2009 [11:27]

SOCAR investments $400,000,000 to Georgian economy

SOCAR has invested a total of $400,000,000 to the economy of Georgia, said SOCAR president Rovnag Abdullayev, according to Novosti-Azerbaijan.
29 December 2008 [18:51]

President of Azerbaijan attends opening of Icheri Sheher underground station

The Icheri Sheher underground station opened today after reconstruction, said sources from the Baku underground.
29 December 2008 [15:24]

Commodity turnover between Russia and Azerbaijan tops $2 bln

Azerbaijan-Russian relations were developing intensively in 2008, said Azerbaijani ambassador to Russia Polad Bulbuloghlu, Interfax-Azerbaijan reports with reference to Lider TV.
29 December 2008 [14:28]

Azerbaijan raises car import by 40%

In January-November of this year Azerbaijan imported 81,245 passenger cars of $596,748,800, said sources from the State Customs Committee.
29 December 2008 [12:33]

33 ships of Kasmornefteflot to undergo repair next year

The Baku shiprepairing plant has recently completed the major repair of Kur, biggest tow boat of Kasmornefteflot of the State Oil Company of Azerbaijan.
29 December 2008 [12:14]

Eyub Huseynov: "All popular and respectable local restaurants are owned by three or four oligarchs, who have monopolized this segment of the local consumer market"

There have not been any positive changes in the issue of improvement in the situation on the local market in the passing year, said chairman of the Union of free consumers of Azerbaijan Eyub Huseynov.
29 December 2008 [10:50]

Georgian energy minister: "The agreement on energy exchange, concluded with Azerbaijan, can be reviewed once in six months"

The energy system of the country is ready to stand greater challenges, said Georgian Energy Minister Alexander Khetaguri.
29 December 2008 [10:24]

National budget group: "The share of local revenues in the state budget of Azerbaijan is extremely low"

The share of local revenues in the state budget for 2009 is extremely law, says a statement of the National Budget group - one of NGOs, functioning in Azerbaijan, according to Novosti-Azerbaijan.
27 December 2008 [14:38]

Gas prices supplied to Turkey from Azerbaijan to rise

Talks about the sale of Azerbaijani gas, transported by the Baku-Tbilisi-Erzirum gas pipeline, to Turkey, as well as the sale price are underway with official Ankara, said SOCAR president Rovnag Abdullayev.
27 December 2008 [10:59]

SOCAR affiliate signs agreement to purchase gas ditribution companies of Georgia

SOCAR Energy Georgia (affiliate of the State Oil Company of Azerbaijan) and the government of Georgia signed a contract due to the purchase of the gas distribution companies.
27 December 2008 [10:50]

Tariffs on ADSL-services reduced in Azerbaijan

Aztelecom company under the Azerbaijan Ministry of Communication and Information Technologies ratified new tariffs on internet services, provided via ADSL technologies.
26 December 2008 [15:44]

Deputy Aynur Guliyeva: "Foreign companies, functioning in Azerbaijan, are rudely violating the labor code of the country"

Foreign companies, functioning in Azerbaijan, discriminate their Azerbaijani employees, said deputy Aynur Guliyeva.
26 December 2008 [14:31]

President of Azerbaijan inaugurates Heydar Aliyev Avenue - PHOTO

President Ilham Aliyev inaugurated the newly reconstructed Heydar Aliyev Avenue on December 25.
25 December 2008 [17:10]

New Tunnel-Bridge Complex commissioned in Azerbaijani capital

Akkord Group of Companies has commissioned a new Tunnel- Bridge complex at the intersection of Heydar Aliyev, Babek and Khatai Avenues.
25 December 2008 [16:35]

Trade turnover between Ukraine and Azerbaijan reaches $1 billion

Trade turnover between Azerbaijan and Ukraine reached $1 billion, commercial economic mission of Ukrainian Embassy in Azerbaijan told APA.
25 December 2008 [14:30]

Azerbaijan buys pedigree cows from Germany

The first batch of pedigreed cattle Azerbaijan bought from Germany will be sent on January 12, 2009, said Kamil Shamilov, officer of Azerbaijan’s AgroLeasing Company.
25 December 2008 [12:33]

Russian Gazprom confirms intention to purchase whole volume of Azerbaijani gas

Gazprom again offered to Azerbaijan to purchase the whole volume of its gas, said official representative of Gazprom Sergey Kupriyanov at a briefing on December 24.
25 December 2008 [12:18]

Azerbaijan and Turkey will launch arms joint production

Turkish weapons manufacturer and defense contractor Reketsan and Azerbaijani military scientific and industrial enterprise Iglim has reached an agreement on the joint production of armaments.
24 December 2008 [18:34]

Azerbaijan closes Azalhelikopter aviation company

Azerbaijan’s Cabinet of Ministers has made changes the structure of Azerbaijan Airlines (AzAL).
24 December 2008 [18:04]

Avoidance of double taxation will come into effect between Azerbaijan and five countries from New Year

From January 1, 2009, agreements on avoidance of double taxation between Azerbaijan and Qatar, Tajikistan, Estonia, Bulgaria and South Korea will come effective.
24 December 2008 [17:32]

Ilham Aliyev: "Today Azerbaijan has a strong potential in electric power export"

"Currently Azerbaijan has a strong potential in electric power export", said President of Azerbaijan Ilham Aliyev at the opening ceremony of the Sangachal electric power station.
22 December 2008 [17:32]

Gold prices advance 3 pct in Azerbaijan last week

Despite two straight day decline, gold for February delivery settled $2.1 up at $837 an ounce on the Comex division of the New York Mercantile Exchange.
22 December 2008 [16:23]

SOCAR to build new port in Georgia

SOCAR will build a new port in Georgia.
22 December 2008 [10:09]

President of Azerbaijan inaugurates "Zangazur" tanker

President of Azerbaijan Ilham Aliyev attended Saturday the commissioning ceremony for the Caspian Shipping Company`s "Zangazur" tanker.
19 December 2008 [17:24]

Cost of flats on secondary real estate market hits record, drops to level of early 2008 in Baku

The Public association "Real estate market participants" drew conclusions of the monitoring of situation on the secondary real estate market of Azerbaijan for November of 2008.
19 December 2008 [15:21]

Foreign investments in Azerbaijan make over AZN 2 bln in January-November

In January-November of 2008 foreign investments into Azerbaijan made AZN 2,046,000,000 (12.8% lower as compared to the due period of the last year).
19 December 2008 [15:03]

Azerbaijan extracts 40.9 mln tons of oil and 20.9 bln cubic meters of gas

In January-Azerbaijan Azerbaijan produced 40.9 mln tons of oil and 20.9 bln cubic meters of gas (including, 14.5 bln cubic meters of commodity gas).
19 December 2008 [13:48]

Azerbaijan to complete reconstruction work in the main avenue in Baku next week

Reconstruction work in Heydar Aliyev Avenue in Baku is scheduled for completion next week, said Punhan Mursaliyev, Press Secretary of Azeryolservis.
19 December 2008 [13:10]

Vitol S.A. purchases first Azerbaijani oil shipment from Novorossiysk in 2009

The SOCAR department of marketing and economic operations declared a purchaser of 1,200 barrels of REBCO oil.
18 December 2008 [18:25]

IMF ready to provide technical assistance in improvement of Azerbaijan's tax system

The International Monetary Fund expressed readiness to assist to Azerbaijani government while developing changes to the Tax Code, said head of IMF mission Valeria Fikera in Baku.
18 December 2008 [16:49]

Azerbaijan to purchase new railway locomotives in South Korea

The railway delegation of South Korea has arrived in Baku, Azerbaijan, said spokesman for the Azerbaijan State Railway Company Nadir Azmamedov, according to Day.Az.
18 December 2008 [16:28]

Electricity supply to Ceyranbatan water reservoir fully cut

The electricity supply has been cut to the pumping stations of several water supply objects of Azersu, said spokesman for Sumgayitelektrikshebeke Anar Guliyev, according to Day.Az.
18 December 2008 [14:14]

Income tax and VAT rates to be reduced in Azerbaijan

The reduction in income tax and VAT rates is expected in Azerbaijan, said deputy Minister of Taxes Natik Amirov, according to Novosti-Azerbaijan.
18 December 2008 [10:36]

IMF: "Azerbaijan will experience 12% economic growth and 9% inflation in 2009"

The International Monetary Fund predicts 12% economic growth in Azerbaijan for 2009.
18 December 2008 [10:15]

Sumato Energy Group Limited purchases 2009's second oil shipment from Supsa

The SOCAR Department of Marketing and Economic Operations of Azerbaijan has declared a purchaser of 600,000 Azeri Light oil barrels.
17 December 2008 [13:02]

Natik Aliyev: "Azerbaijan is likely to support OPEC plans to reduce oil production"

Azerbaijan is for the first time taking part in the work of OPEC which is to hold session in Oran (Algeria) on Wednesday.