Business

04 September 2008 [16:02]

Iranian deputy foreign minister: "Iranian side is against laying a pipeline by the Caspian floor"

Iranian side is against laying pipelines by the Caspian floor, as it can "cause damage to the ecology of the sea", said Deputy Iranian Foreign Minister Mehti Safari, according to Novosti-Azerbaijan.
04 September 2008 [15:32]

Ukrainian ambassador to Azerbaijan: "The commodity turnover between Azerbaijan and Ukraine will reach $1 bln"

The commodity turnover between Ukraine and Azerbaijan will reach $1 bln in the next few years, said Ukranian ambassador to Azerbaijan Boris Klimchik, according to Novosti-Azerbaijan.
04 September 2008 [12:43]

The Economist: "Inflation will further rise and then gradually fall in the next five years"

GDP growth rates will fall down to 5-6% from the current 15-16% until 2012, said editor-in-chief of the survey department of The Economist Magazine Anna Walker.
04 September 2008 [12:02]

Baku to host third Energy Summit on November 14

Third Energy Summit will be held in Baku on November 14, Ukrainian Ambassador to Azerbaijan Boris Klimchuk said, APA reports.
04 September 2008 [09:30]

National Bank of Azerbaijan posts 32% rise in official currency reserves

As of September 1, the National Bank of Azerbaijan’s official foreign exchange reserves reached $5.3 billion, up 32.4% on January 1.
04 September 2008 [09:17]

AzAL to make in-flight Internet access available

Azerbaijan Airlines (AzAL) is going to buy Green Liner-700 and Green Liner-708 passenger aircrafts.
03 September 2008 [17:26]

IAEA representatives arrive in Baku

Representatives of the International Atomic Energy Agency arrived in Azerbaijan yesterday, said head of the Institute for Radiation Problems under the Azerbaijan National Academy of Science Adil Qaribov.
02 September 2008 [17:23]

France to deliver an aircraft to Azerbaijan next week

One more French-made ATR will be delivered to Azerbaijan on September 10 under the agreement between Avions de Transport Regional and Azerbaijan State Airline (AzAL), the flag carrier of the country.
02 September 2008 [15:47]

Ilham Shaban: "It would have been more correct to speak of 30% inflation rate by results of 2008, rather than 22-23%"

It would have been more correct to speak of 30% inflation rate by results of 2008, rather than 22-23%, said Ilham Shaban, head of the Center of Oil Researches, speaking of the real unofficial level of inflation by results of 2008.
02 September 2008 [15:16]

New buses brought to Nakhchivan

New buses have been brought to Nakhchivan City, Azerbaijan.
02 September 2008 [11:19]

Turkey-Russia trade halt can make imports low-priced in Azerbaijani market

From September 1, Turkey has started carrying out extra border inspections of Russian goods in a mounting trade row that was seen as retaliatory move after Russia imposed non-tariff barriers against Turkish exports and restricted Turkish goods sent to Russia from some logistic centers in Europe.
02 September 2008 [10:07]

Azerbaijan's inflation rate to hit 22-23% in 2008

Inflation rate in Azerbaijan will make 22-23% in 2008, said deputy Economic Development Minister Sevinj Hasanova.
02 September 2008 [09:41]

IAEA delegation to arrive in Azerbaijan on Sep. 2

The International Atomic Energy Agency (IAEA) will send a delegation to Azerbaijan on September 2, the IAEA coordinator for Azerbaijan Andrei Chupov told APA.
02 September 2008 [09:17]

Kulevi Oil Terminal reopens

Kulevi Oil Terminal in Georgia’s Black Sea shore has restarted full operation, said Nadir Azmammadov, Press Secretary of Azerbaijan State Railways Company (ADDY).
01 September 2008 [14:17]

ADB extends $160 million to Azerbaijan

On September 10, the Board of Directors of the Asian Development Bank is due to approve a $160 million loan for the Power Transmission Enhancement Project in Azerbaijan.
01 September 2008 [13:28]

Job fairs to held this week in six regions of Azerbaijan

The Employment Department of Azerbaijan’s Ministry of Labor and Social Protection will hold job fairs in six regions this week.
01 September 2008 [09:45]

Azerbaijan to create business incubator in Baku

Azerbaijan’s Ministry of Economic Development is going to establish business incubator in Baku as part of the industrial area project supported by the Korean Government.
01 September 2008 [09:41]

Turkish Fatoglu company to purchase grain from Sheki farmers

For the purpose of assistance to Sheki farmers in the sale of grain, the Azerbaijan's Economic Development Ministry arranged a meeting of local farmers with Turkish Fatoglu.
01 September 2008 [09:11]

Azerbaijan's Economic Development Ministry: "Country's GDP growth will make 18% next year"

The Ministry of Economic Development of Azerbaijan presented macroeconomic indicators for 2009 to the Ministry of Finance.
30 August 2008 [10:53]

Azerbaijan to be represented in international seminar on labor management

Seminar on "Strengthening of labor management in Azerbaijan, Kazakhstan, Georgia and Armenia" will be held in Turin (Italy) on September 22-26 under support of the International Labor Organization.
30 August 2008 [10:44]

Turkish Minister of Energy and Natural Resources to visit Azerbaijan

Turkish Minister of Energy and Natural Resources Hilmi Guler will visit Azerbaijan, Turkmenistan and Iran.
28 August 2008 [11:30]

Yuri Shedrin: "Azerbaijan is, undoubtedly, Russia's main partner in the region"

Day.Az interview with Yuri Shedrin, head of Russia's trade representation in Azerbaijan.
28 August 2008 [10:58]

Representatives of more than 100 countries to attend Youth Employment Summit in Baku

Nearly 600 people from more than 100 countries will arrive in the capital of Azerbaijan for participation in the fourth world youth employment summit (YES), reports the press service for Azerbaijan's Ministry of Youth and Sport, according to Novosti-Azerbaijan.
27 August 2008 [11:54]

Azerbaijan starts transporting oil via Iran

Iran has become a new transit route for exportation of energy sources from Azerbaijan.
27 August 2008 [11:47]

President of Azerbaijan familiarizes with new passenger buses, brought to Azerbaijan

President of Azerbaijan Ilham Aliyev familiarized with new passenger buses, brought to the country.
26 August 2008 [09:58]

President approves state program on food supply of population for 2008-2015

President Ilham Aliyev approved the state program on reliable food supply of population in the Republic of Azerbaijan for 2008-2015, the Press service of the President told APA.
26 August 2008 [09:36]

BTC pipeline back in service - UPDATED

A major fire-damaged oil pipeline carrying crude from Azerbaijan to Turkey was up and running again Monday after repairs, industry sources told AFP.
25 August 2008 [11:15]

Azerbaijan takes one of the last places for diesel fuel quality – Table

International fuel quality center (IFQC), Huston, has prepared a rating of 100 countries with the lowest norms of serum containment in diesel fuel.
23 August 2008 [11:11]

Ten wells to be launched at Bibi-Eybat field later this year

10 wells will be launched at Bibi-Eybat field in Azerbaijan later this year.
22 August 2008 [12:43]

Turkmen oil and gas minister to visit Azerbaijan

Minister of Oil and Gas industry of Turkmenistan Baymurad Khojamuradov will lead a delegation to arrive in Azerbaijan in the first decade of September.
22 August 2008 [09:10]

President of Azerbaijan allocates AZN 25 mln to encourage agricultural production in Azerbaijan

President of Azerbaijan Ilham Aliyev passed a decree on provision of additional support to supply agricultural producers with seeds, fertilizers and pedigree cattle, reports Day.Az with reference to the official website of the Azerbaijani President.
20 August 2008 [16:02]

BP says testing begins on BTC pipeline

British oil company BP PLC said that testing will begin Wednesday on the closed Baku-Tbilisi-Ceyhan oil pipeline, which runs through conflict-stricken Georgia, ahead of a move to restart full operations as early as next week, according to the Associated Press.
20 August 2008 [10:30]

Heydar Babayev: "The recent events in Georgia may have a negative impact on GDP growth rates in Azerbaijan"

The recent events in Georgia may have a negative impact on the GDP growth rates in Azerbaijan, said Economic Development Minister Heydar Babayev.
20 August 2008 [09:47]

Egyptian railwaymen to arrive in Baku

A delegation led by deputy chairman of the Labor Union Committee of Railwaymen of Egypt Hamad Zahlul, will arrive in Baku on August 21, said spokesman for the Azerbaijan State Railway Company Nadir Azmamedov.
20 August 2008 [09:28]

President of Azerbaijan: "Azerbaijan and BP are able to continue their cooperation even in critical situations"

President Ilham Aliyev received BP executive vice president Andy Inglis.
19 August 2008 [15:41]

President of Azerbaijan receives head of International Financial Corporation

President of Azerbaijan Ilham Aliyev received a delegation, led by head of the International Financial Corporation Lars Tunnel, reports Day.Az with reference to the official website of the Azerbaijani President.
19 August 2008 [15:22]

President of Azerbaijan receives head of German Thyssen Krupp

President of Azerbaijan received a delegation led by chairman of the directors' board of the world-famous German Thyssen Krupp Ekkerhard Schultz, reports Day.Az with reference to the official website of the Azerbaijani President.
19 August 2008 [14:00]

20 new wells drilled in Neft Dashlary field through 7 months of this year

20 new wells have been drilled at Neft Dashlary field through 7 months of this year.
19 August 2008 [10:12]

Head of International Financial Corporation to arrive in Baku

Lars Tannell, Executive vice president of the International Financial Corporation, which is an investment affiliate of the WB group, is to arrive on his first official visit to Azerbaijan, said a source from the IFC Baku representation, according to Novosti-Azerbaijan.
19 August 2008 [09:03]

Turkey's Energy Minister: "Oil transportation through Baku-Tbilisi-Ceyhan pipeline will resume in a few days"

"Oil transportation through Baku-Tbilisi-Ceyhan pipeline, which has been suspended since August 5 due to the blast and fire, will be resumed in a few days," Turkey’s Energy and Natural Resources Minister Hilmi Guler said, APA reports.
18 August 2008 [13:19]

Deal on Baltika's purchase of Azerbaijani brewery complete

Baltika has completed a deal on purchase of Baku-Castel (Azerbaijan) brewery from Braesseries Internationales Holding Eastern Ltd, reports a source from the company.
18 August 2008 [09:46]

Over 1000 railway carriages unable to return to Azerbaijan due to explosion of a bridge near Kaspi city in Georgia

Georgian side is trying to reconstruct an old railway line to resume transportation of oil products from Azerbaijan to its ports, reports Day.Az with reference to ANS TV channel.
16 August 2008 [10:41]

Laying of Bahar-Hovsany-Surakhany gas pipeline to start in Azerbaijan

The process of covering pipes, intended for the underground section of the Bahar-Hovsany-Surakhany pipeline, with concrete was launched at the Caspian Pipe Coatings plant.
16 August 2008 [09:23]

Azerbaijani-Turkish business council to hold its regular session

Azerbaijan's Minister of Economic Development Heydar Babayev received a delegation, led by the head of the Agency of Turkic Cooperation and Development Musa Kulaklykaya.
15 August 2008 [17:40]

AZAL resumes air flights to Tbilisi

Azerbaijan State Air Company AZAL will resume air flights to Tbilisi on August 17, said spokesman for the company Meherrem Safarli.
15 August 2008 [16:03]

Industrial production and services in Azerbaijan top AZN 18 bln in January-July of this year

In January-July of this year, the volume of industrial production and services in Azerbaijan rose by 14.4% up to AZN 18.6 bln, said a source from the State Statistical Committee.
15 August 2008 [08:59]

Russian Vneshtorgbank completing deal on purchase of control stocks in Azerbaijani AF Bank

Russian Vneshtorgbank will soon complete the deal on purchase of control stocks (51%) in Azerbaijani AF Bank, said Russian trade representative in Azerbaijan Yuri Shedrin.
14 August 2008 [13:54]

Azerbaijan's commodity supplies to Russia rise by 60.4% in 2008

Russia sent 7,509 passenger cars and 2,559 trucks to Azerbaijan in the first half of 2008, said Russia's trade representative in Azerbaijan Yuri Shedrin at a press conference today.
14 August 2008 [12:56]

Azerbaijan-Russia commodity turnover tops $1 bln in the first half of 2008

The commodity turnover between Azerbaijan and Russia made $1,041,700,000 in the first half of 2008, in line with Russian statistics, said Russian trade representative in Azerbaijan Yuri Shedrin at a press conference today.
14 August 2008 [11:20]

BP says resumes gas exports by Baku-Tbilisi-Erzirum pipeline

BP has resumed gas exports from Azerbaijan to Turkey via Georgia after halting flows two days ago due to a military conflict between Russia and Georgia, BP said on Thursday, confirming reports of Russian agencies.
14 August 2008 [09:23]

Oil export by Baku-Novorossiysk pipeline resumed

Oil transportation by Baku-Novorossiysk pipeline was stopped by an appeal of the Azerbaijani side from 18.00 August 12 until 09.15 August 13 due to the planned technical works on the Azerbaijani sector of the pipeline, said the press service for SOCAR.
13 August 2008 [17:30]

BP-Azerbaijan: "Development of the plan of repair of the Turkish section of the BTC pipeline, hit by explosion, has been launched"

Officials of Turkish Botas, operating the BTC consortium, launched the development of a plan of repair and rehabilitation of the Turkish section of the BTC pipeline, hit by explosion, said spokeswoman by BP-Azerbaijan company Tamam Bayatli.
13 August 2008 [16:02]

Agricultural facilities to be assembled in Azerbaijan

ZeyemKendMash plant will launch assembly of agricultural facilities in early September of this year in the framework of the project of AtaHolding and Ateshpar companies, said a source from AtaHolding.
13 August 2008 [13:27]

BP cuts gas feeding into South Caucasus pipeline

The South Caucasus Pipeline, or SCP, can continue to flow gas into Turkey for seven days, despite the fact that gas is no longer entering the Azeri end of the pipeline, a spokeswoman for operator BP PLC (BP) said Wednesday.
13 August 2008 [12:16]

Wages of transport sector employees rise 29.7% in Azerbaijan

The number of employees at the transport enterprises of Azerbaijan made 70,105 people in January-June of 2008, rising by 3069 people, as compared to the same period of the last year, said a source from the State Statistical Committee.
13 August 2008 [08:58]

SOCAR enterprises operate by normal schedule in Georgia

The recent events in Georgia did not affect much the working schedule of the enterprises of the State Oil Company of Azerbaijan, locating in the Georgian territory.
11 August 2008 [17:01]

BTC oil pipeline fire extinguished - BP source

A fire on the Baku-Tbilisi-Ceyhan (BTC) oil pipeline was extinguished on Monday, a senior source at BP told Reuters.
11 August 2008 [11:32]

Azerbaijani cargo transshipment via Georgian ports halted

Georgian ports of Poti and Batumi do not accept Azerbaijani cargo due to the recent events in South Ossetia, said the press service for the Azerbaijani State Railway Service, according to Interfax-Azerbaijan.
11 August 2008 [09:53]

Fire burns 20,000 tons of oil at Turkish section of BTC pipeline

The damage from fire at the Baku-Tbilisi-Ceyhan pipeline will be neutralized by insurance.
08 August 2008 [10:35]

Turkish energy minister: "Fire on BTC pipeline will stop in 1-2 days"

Turkish Minister of Energy and Natural Resources Hilmi Guler visited the place of fire at Baku-Tbilisi-Ceyhan pipeline.
08 August 2008 [09:09]

BP declares state of emergency due to explosion at BTC

British Petroleum declared the state of emergency at the Baku-Tbilisi-Ceyhan pipeline, caused by an explosion, which occurred on August 6, and a fire on the pipeline.
07 August 2008 [17:31]

Oil transportation by Baku-Tbilisi-Ceyhan pipeline fully stopped

Oil transportation by Baku-Tbilisi-Ceyhan pipeline has been fully stopped due to the fire, which occurred in Turkey, reports Day.Az with reference to ANS TV.
07 August 2008 [12:23]

BP-Azerbaijan reduces offshore oil production

BP-Azerbaijan has cut production of oil from the Azeri-Chirag-Guneshli fields in the Azerbaijani sector of the Caspian Sea, said spokesman for the company Tamam Bayatli, according to Interfax-Azerbaijan.
06 August 2008 [14:44]

Explosion hits Turkish section of Baku-Tbilisi-Ceyhan pipeline - UPDATED

Fire hit the Erzindjan-Rafahiya section of Baku-Tbilisi-Ceyhan pipeline in Turkey.