Business

20 May 2008 [10:18]

World's second longer sea bridge to be built in Azerbaijan

Korean Dongsung Engineering plans to implement the project of a sea bridge via the Baku bay within the next seven years, said representative of the Korean embassy to Azerbaijan Kim Yeong Seog.
20 May 2008 [09:30]

General agreement signed on shipyard construction in Azerbaijan - UPDATED

A general agreement on construction of a shipyard in Azerbaijan (Qaradagh settlement of Baku) was signed in Baku yesterday.
19 May 2008 [16:44]

300 Daewoo buses to be delivered to Azerbaijan

Azerbaijan's Ministry of Transport and South Korean Daewoo signed two documents today.
19 May 2008 [16:24]

Azerbaijan, South Korea to continue cooperation in railway transport

The State Railway Administration of Azerbaijan and Korean railway network have signed a memorandum of mutual understanding.
19 May 2008 [12:04]

Representation of Korean Trade and Investments Promotion Agency opens in Baku

"Azerbaijan accounts for 14 Korean companies with majority functioning successfully".
19 May 2008 [10:31]

Azerbaijan pays gas debt to Turkmenistan

Azerbaijan has paid debt for natural gas, supplied in the early 1990s, to Turkmenistan, according to Interfax.
17 May 2008 [09:23]

Mikhail Saakashvili: "The plans, which I have developed jointly with President of Azerbaijan Ilham Aliyev, are being implemented"

President of Georgia Mikhail Saakashvili, attending yesterday's opening of the Kulev terminal, called it new sea gates of the country.
17 May 2008 [09:10]

Rovnag Abdullayev: "The State Oil Company of Azerbaijan has invested $380 mln to Georgian economy"

The State Oil Company of Azerbaijan has invested $380 mln to Georgian economy.
16 May 2008 [21:34]

Azerbaijan Companies Featured At Major U.S. Food Trade Show

The United States-Azerbaijan Chamber of Commerce (USACC) last week led a government and corporate trade mission, showcasing Azerbaijani goods and products to the largest and most comprehensive food industry event in North America.
16 May 2008 [17:03]

Heydar Babayev: "Azerbaijan is interested in investing to Cuban tourism"

Azerbaijan's Economic Development Minister Heydar Babayev received president of Trade and Industrial Chamber of Cuba Raul Besseru.
16 May 2008 [16:49]

President of Azerbaijan receives chairman of South Korean Kolon

President of Azerbaijan Ilham Aliyev received chairman of the South Korean company Kolon Vung Yul Li, reports press service for the President.
16 May 2008 [16:28]

Heydar Babayev: "There are favorable conditions for development of cooperation between Azerbaijan and Israel in the sphere of agriculture"

Azerbaijan's Economic Development Minister Heydar Babayev received Israeli Minister of Agriculture Shalom Simkhon.
16 May 2008 [16:17]

Business-meetings of Israeli and Azerbaijani entrepreneurs held in Baku

Business-meetings of Israeli and Azerbaijani entrepreneurs were held in Baku on May 16.
16 May 2008 [13:36]

Azerbaijan-owned oil terminal opens in Georgia

An oil terminal belonging to Azerbaijan was opened in Georgia's west on Friday.
16 May 2008 [12:39]

Black market of cell phones in Azerbaijan reaches AZN 40 mln

Volume of cell phone market of Azerbaijan exceeds AZN 100 mln.
16 May 2008 [11:27]

Representation of Korean Trade Promotion Agency to open in Azerbaijan

An opening ceremony of local representation of the Korean Trade Promotion Agency will be held in Baku on May 19.
15 May 2008 [16:47]

President of Baltika company: "About $20 mln will be invested into modernization of the Baku-Castel brewery"

Baltika is a leader of the import segment of market in Azerbaijan.
15 May 2008 [15:41]

Eyub Huseynov: "The avalanche-like price hike will influence not only underground but also other transport fares"

Day.Az interview with Eyub Huseynov, chairman of the Azerbaijan's Union of Free Consumers.
15 May 2008 [14:53]

Prime Minister of Azerbaijan to take part in opening of oil terminal in Georgia

Prime Minister of Azerbaijan Artur Rasizade will visit the Kulevi city in Georgia's west tomorrow.
15 May 2008 [11:39]

Work groups of Azerbaijan, Iran and Russia to meet on North-South transport corridor in Baku

The Azerbaijan-Russia-Iran meeting of work groups, dealing with the implementation of the North-South international transport corridor project, will be held in Baku, Azerbaijan on May 26-27.
14 May 2008 [12:59]

Available funds grow 1.6 times in Azerbaijan

As of April 1, Azerbaijan accounted for AZN 4,428,200,000 of available funds in circulation.
14 May 2008 [12:31]

Private households receive 37.5% of credits in Azerbaijan

As of April 1 of this year the volume of credit assignments of Azerbaijan's economy made up AZN 4,932,100,000.
14 May 2008 [09:14]

Guneshli gas extraction rises by 62%

The Guneshli field has been producing 17.2 mln cubic meters of gas daily since the beginning of the year with 16 mln transferred to the state.
14 May 2008 [09:08]

Azerbaijan's external debt makes $2,596,500,000

The external debt of Azerbaijan made $2,596,500,000 as of April 1 of 2008 which is a 6.4% of the country's GDP.
13 May 2008 [17:31]

Azerbaijan to be involved to project of Trans-Adriatic pipeline construction

Azerbaijan's Minister of Industry and Energy Natik Aliyev met with head of Swiss EGL-AXPO Robert Lombardini.
13 May 2008 [17:09]

Representative of UN World Food Program: "The food crisis will affect Azerbaijan as well"

The rise in prices on foodstuffs will affect Azerbaijan as well, none of the countries is secured from food crisis.
13 May 2008 [17:02]

Heydar Babayev discusses issues of economic cooperation with Egypt's deputy Foreign Minister

Azerbaijan's Minister of Economic Development Heydar Babayev met with deputy Foreign Minister of Egypt Ramzi Azzaldin Ramzi.
13 May 2008 [14:57]

UN World Food Program renders $115 mln of assistance to Azerbaijan

Within 14 years the UN World Food Program rendered assistance of 164,000 tons of different food products to Azerbaijan.
13 May 2008 [14:26]

Seminar on Azerbaijan's accession to World Trade Organization to be held in Baku

A seminar on "Development of a dialogue between private sector and government in the process of accession to the World Trade Organization".
13 May 2008 [12:02]

World Food exhibition to be held in Baku

The World Food exhibition will be held in the Sport and Concert Company named after Heydar Aliyev in the Azerbaijani capital on May 15-17.
13 May 2008 [11:53]

Azeri Airlines open direct air flight Baku-Antalia-Baku

Azeri Airlines initiated operating of a direct passenger air flight Baku-Antalia (Turkey)-Baku.
13 May 2008 [11:17]

Israeli Minister of Agriculture to arrive in Azerbaijan

A delegation, led by Israeli Minister of Agriculture and Development Shalom Simkhon, will arrive in Baku, Azerbaijan on May 15.
13 May 2008 [10:51]

Heydar Babayev: "Bread prices are raised artificially in Azerbaijan"

The rise in the number of countries, exporting grain to Azerbaijan, will influence the situation.
13 May 2008 [09:58]

Azerbaijan, Austria sign protocol on deepening of economic cooperation

The fifth session of the Mixed commission on cooperation between Azerbaijan and Austria on economy, agriculture, industry, technique and technology ended in Vienna (Austria).
13 May 2008 [09:26]

Business meetings between entrepreneurs of Azerbaijan and Indonesia held in Baku

Business meetings between Azerbaijani and Indonesian entrepreneurs were held in the framework of official visit of Indonesian Foreign Minister Noer Hasan Virayuda to Azerbaijan on May 12.
12 May 2008 [16:42]

Concept of "standard monetary unit" dropped out of Azerbaijan's Criminal and Administrative Codes

Concept of "standard monetary unit" is dropped out of the Criminal and Administrative Codes, said the parliamentary commission on the legal policy and state-building in its meeting on Monday, APA reports.
12 May 2008 [16:30]

Baku Metro may raise fares 11 times next year

Baku Metro may increase fares 11 times to 55 kopecks next year.
12 May 2008 [15:47]

OPIC's role in support of US investments in Azerbaijan to be discussed in Washington

The US-Azerbaijan commercial chamber and the Overseas Private Investment Corporation (OPIC) will hold discussions on "Support of US investments to Azerbaijan: OPIC" in Washington on May 22.
12 May 2008 [15:33]

IMF: "Inflation rate in Azerbaijan may hit 20% in 2008"

IMF recommends to Azerbaijan to moderate the state expenses, which would improve the quality and effectiveness of investments, as declared in the statement, released by the International Monetary Fund.
12 May 2008 [14:22]

BP allots next grant for implementation of social program in Azerbaijan's west

BP company on behalf of its partners on Azerbaijani projects has allocated a grant for implementation of social projects in the western regions along the BTC and South Caucasus Pipelines.
12 May 2008 [13:23]

Azerbaijan renders $500,000 of assistance to Myanmar

The government of Azerbaijan decided to render assistance to Myanmar for elimination of results of disaster.
12 May 2008 [13:11]

Azerbaijan to take part in Committee of European Postal Regulators

Azerbaijan will be represented at the next session of the European Committee of Postal Regulators to be held in Riga (Latvia) on May 14-16.
12 May 2008 [12:50]

Representative of European Lawyers' Union: "We call on Azerbaijani entrepreneurs to invest in Europe"

A three day international conference "European potential of Azerbaijani business" started in Baku.
12 May 2008 [09:28]

Azerbaijan resumes gas supply to Georgia

Azerbaijan has resumed export of natural gas to Georgia in the volume of 1.5 million cubic meters daily.
10 May 2008 [11:33]

Aras Aghalarov to invest nearly $1 billion to creation of resort area in Azerbaijan

President of the Crocus International group of companies Aras Aghalarov plans to create a resort area estimated at about $1 billion in Azerbaijan.
10 May 2008 [09:10]

Azerbaijan's Finance Minister: "Azerbaijan’s state budget revenues envision $70 per oil barrel"

Azerbaijan’s state budget revenue envisions a forecast oil price of $70 per barrel after the 2008 state budget re-adjustment, said Azerbaijan’s Minister of Finance Samir Sharifov.
10 May 2008 [09:05]

Azerbaijan's Finance Minister: "Rise in bread prices in Azerbaijan is mainly caused by external factors"

The rise in bread loaf prices is mainly caused by external factors, said Azerbaijan’s Minister of Finance Samir Sharifov.
10 May 2008 [09:01]

Kemaleddin Heydarov: "By decision of the government, grain will be kept in the storehouses of the Azerbaijan's Ministry of Emergency Situations"

The formation of the grain stocks involves the Ministry of Agriculture, Cabinet of Ministers and other structures along with the Ministry of Emergency Situations.
10 May 2008 [00:06]

More than 200 million USD was spent to build just 17 km length road to Baku airport

President of Azerbaijan Ilham Aliyev has attended the opening of 6-traffic-path concrete road in the direction of Zig circle – Heydar Aliyev International Airport on Friday.
08 May 2008 [17:33]

Azerbaijan raises gas price for Georgia

The State Oil Company of Azerbaijan (SOCAR) and Georgian National Oil and Gas Corporation signed a natural gas agreement for 2008, a source in the government of Azerbaijan told APA-Economics.
08 May 2008 [15:22]

Center of Economic Research: "Minimal pensions and wages in Azerbaijan are below the minimal consumer basket"

The cost of per capita minimal consumer basket in Azerbaijan in April of 2005 made up AZN 117.8 (about $143 by the current exchange rate).
08 May 2008 [15:10]

Ukraine Minister of Fuel and Energy: "We have no problems with supplies of Azerbaijani oil"

By the end of June the Ukraine Ministry of Fuel and Energy intends to complete talks on oil supplies to Europe by Odessa-Brody pipeline.
08 May 2008 [12:13]

President of Azerbaijan ratifies alterations to Azerbaijan's state budget for 2008

President of Azerbaijan Ilham Aliyev issued a decree on introduction of amendments and alterations to the state budget of the country for 2008.
07 May 2008 [17:02]

Volume of Azerbaijan's retail commodity turnover rises by 14.7% in January-April of 2008

Azerbaijan's retail trade turnover rose by 14.7% in January-April of 2008, as compared to the same period of the last year, up to AZN 3,185,300,000.
07 May 2008 [14:34]

Ramiz Mehtiyev: "Bread crisis will not hit Azerbaijan"

Artificial price hike on bread is not ruled out but bread crisis will not hit Azerbaijan.
07 May 2008 [13:43]

Investments to Azerbaijan's non-oil sector predicted to top $5 bln

AZN 4.2 billion (more than $5 billion)is expected in investment in Azerbaijan’s non-oil sector in 2008, said the country’s minister of economic development Heydar Babayev.
07 May 2008 [12:21]

Flour stocks make 314 tons in Azerbaijan's west

By results of the monitoring, held in the western region of Azerbaijan, the main mills of the region have stocks of about 150 tons of wheat and 314 tons of flour.
07 May 2008 [09:08]

Mortgage lending to resume in Azerbaijan

The Azerbaijan Mortgage Fund is to resume lending mortgage loans in the second half of 2008, said Elman Rustamov, Board Chair of the National Bank of Azerbaijan.
06 May 2008 [17:10]

Second Jordan exhibition and Azerbaijan-Jordan business-forum held in Baku - UPDATED

The second Jordan exhibition and Azerbaijan-Jordan business forum opened in Baku today with participation of President Ilgam Aliyev and king of Jordan Abdullah 2.
06 May 2008 [14:59]

Azerbaijan to bring its share in Black Sea Trade and Development Bank up to 5%

Azerbaijan hopes to bring its share in the Black Sea Trade and Development Bank up to 5% in June of this year.
06 May 2008 [13:53]

European Commissioner on Energy: "Russia's possible participation in Nabucco project is ruled out"

European commissioner on energy Andris Piebalgs ruled out possibility of Russia's participation in Transcaspian Nabucco gas pipeline.
06 May 2008 [11:20]

Greek Development Minister: "Greece needs the South flow gas pipeline as much as it needs the Turkey-Greece-Italy pipeline"

Greece needs the South Flow gas pipeline as much as it needs the Turkey-Greece-Italy pipeline.
06 May 2008 [10:30]

Azerbaijan to sign contracts with Oman and Arabic Emirates on WTO accession

The fifth session of the work group on Azerbaijan's accession to the World Trade Organization will be held in Geneva, Tuesday.
06 May 2008 [09:52]

Third annual conference of Azerbaijan Credit Unions Association to be held in Baku

The third annual conference of Azerbaijan Credit Unions Association (ACUA) dated to the fifth anniversary of the organization will be held in the Baku international press center on May 15-16.
05 May 2008 [13:49]

Second Jordan national exhibition and business forum to be held in Azerbaijan

The second Jordan national exhibition and business forum will be held in the Baku marine station tomorrow.
05 May 2008 [12:27]

Baku-Halab direct flight starts today

Azerbaijan State Airlines Company (AzAL) will operate the first flight between Baku and Halab (Syria) on May 5.