Business

06 August 2009 [15:46]

Baku to host Azerbaijan-Germany business forum

Azerbaijan-Germany business forum will be held in Baku on August 12, Germany-Azerbaijan Economic Assistance Union said.
06 August 2009 [13:20]

ADB energy mission arrives in Baku

The Asian Development Bank energy mission arrived in Baku on August 5, the ADB Baku office said.
06 August 2009 [12:47]

New president of BP Azerbaijan appointed

BP, as the operator of the Azeri-Chirag-Gunashli fields, Shah Deniz, Baku-Tbilisi-Ceyhan (BTC) and South Caucasus Pipeline (SCP) projects, has today announced the appointment of Rashid Javanshir as president of BP Azerbaijan who will take up office from September 1, 2009, the company said in a statement.
06 August 2009 [12:19]

Italian PM to attend discussions on South Stream in Turkey

The fate of one of the largest joint projects between Russia and Turkey in the energy sector will be decided today during working visit by Russian Prime Minister Vladimir Putin to Turkey.
06 August 2009 [10:28]

Azerbaijani parliament designs Town-planning Code

Azerbaijan’s parliament will discuss draft Town-planning Code at the autumn session, parliament’s economic policy committee chair Ziyad Samadzade said.
06 August 2009 [08:56]

About 280 state-owned enterprises, small facilities privatized in Azerbaijan

About 280 state-owned enterprises and small facilities were privatized in Azerbaijan in January-July, said the State Committee on Property Issues.
05 August 2009 [13:42]

Azerbaijan will fully meet grain demand this year: agriculture ministry official

Islam Ibrahimov, head of Azerbaijani Agriculture Ministry Department for Rural Areas and Entrepreneurship, spoke in an interview with Day.Az.
05 August 2009 [11:55]

U.S government works with Azerbaijan over Nabucco project: U.S Assistant Secretary

U.S government is working with Azerbaijan to realize Nabucco gas pipeline project, Assistant Secretary for European and Eurasian Affairs Philip H. Gordon said in Senate Foreign Relations Committee Hearing on "Georgia: One Year After the August War" on August 4.
04 August 2009 [14:21]

Israeli ambassador commented on possible closure of Baku-Tel-Aviv air flights

“My task is to improve the relations between Israel and Azerbaijan, increase trade turnover and strengthen partnership,” new ambassador of Israel to Azerbaijan Michael Lavon-Lotem told IzRus portal.
04 August 2009 [11:32]

Azerbaijani parliament designs new construction bill

Azerbaijani parliament is designing a new construction bill.
03 August 2009 [15:43]

Both Azerbaijani swine-flu infected individuals leave hospital (UPDATE)

The second person infected with A/H1N1 virus (swine flu) in Azerbaijan has been discharged today, chief of Health Ministry’s medical aid department Soltan Aliyev said.
03 August 2009 [14:17]

Oil prices hover over $70

Crude oil traded above $70 a barrel for the first time in a month on speculation fuel demand will increase, as equities in Asia gained for a third day amid signs the global economy is recovering, Bloomberg reported.
03 August 2009 [13:37]

Despite certain delay, Kars-Baku-Akhalkalaki railway project will complete by 2012

Despite certain delays, Kars- Baku-Akhalkalaki railway which will connect Asia with Europe will end by 2012, Mardabi-Kartsakhi Railway director Bidzina Bregadze said.
03 August 2009 [11:59]

Azerbaijani Social Protection Fund's revenues up 20 percent in a year

Revenues of the Azerbaijani State Social Protection Fund reached 759 million manat over the first six months of 2009, a rise of 19 percent from similar period of 2008, the fund said.
03 August 2009 [11:45]

Azerbaijan seeks WTO membership while preserving production market: MP

Azerbaijan is designing a working plan in an effort to be admitted to the World Trade Organization, Azerbaijani member of parliament Vahid Ahmadov said.
01 August 2009 [11:48]

Armenia's foreign trade turnover fell by almost a third

Armenia's foreign trade turnover decreased by 31.5 percent in January-June 2009 from the same period of 2008 and reached $1.65 billion.
01 August 2009 [10:55]

World oil prices rebound after two days of fall

World oil prices regained active growth on July 30 after two day fall, AFP reported.
01 August 2009 [09:06]

Rise in gasoline prices in Armenia

Gasoline prices in Armenia rose 2.9 percent in July 2009 compared to the June figures, according to the national statistics agency.
31 July 2009 [14:54]

Armenian economist: Armenia not to avoid two-digit recession

“Armenia will see two-digit indicator of economic recession at an annualized pace,” adviser to speaker of Armenia’s National Assembly and economist Tatul Manaseryan said.
30 July 2009 [17:34]

World passenger traffic falls hit by swine flu

International air passenger traffic fell by 7.2 percent in June over 12 months, with the swine flu pandemic adding a blow to an airline industry already depressed by the economic crisis, IATA said on Thursday.
30 July 2009 [14:34]

Turkey, Georgia sign agreement to build electricity transmission line

Turkish Energy and Natural Resources Minister Taner Yildiz and Georgian Energy Minister Alexander Khetaguri have signed an agreement on building 1,000-megawatt “Borchka-Meskhetian” electricity transmission line between the two countries.
30 July 2009 [12:11]

SOCAR plans to up Azerbaijan’s proven gas reserves up to 5 trillion cubic meters

Azerbaijan State Oil Company (SOCAR) plans to increase country’s proven gas reserves up to 5 trillion cubic meters.
30 July 2009 [11:37]

SOCAR launches new oil well

Azeri Drilling Company has put into operation a new high debit well for State Oil Company of Azerbaijan (SOCAR).
30 July 2009 [11:19]

President Obama says recession almost ended in U.S.

U.S. President Barack Obama said on Wednesday the United States may be seeing the "beginning of the end of the recession" as he launched a sweeping defense of his efforts to stimulate the economy.
30 July 2009 [11:04]

Azerbaijani parliament to adopt Competition Code at third reading

Azerbaijani parliament will adopt Competition Code at third reading during the autumn session, economic policy committee chair Ziyad Samadzade said.
29 July 2009 [13:38]

False cements sold in Azerbaijani market

The monitoring by the Union of Free Consumers of Azerbaijan has revealed sale of false cements on the markets of the central, southern and western areas of Azerbaijan, UFC chairman Eyyub Huseynov said.
29 July 2009 [11:58]

World Bank issues loan to overhaul highways in Azerbaijan

Azerbaijan's Transport Ministry and World Bank have signed an agreement on a second additional financing and loan agreement as a part of the second highway project in Azerbaijan, the Ministry said.
29 July 2009 [11:06]

Russia looks forward rise in Azerbaijani exports: economic development minister

Russian Economic Development Minister Elvira Nabiullina spoke with Trend Capital in an exclusive interview.
28 July 2009 [16:19]

Azerbaijan’s budget surplus makes up 31 percent of GDP

Azerbaijan’s budget surplus totaled 424 million manat or 2.97 percent of GDP in the first half of 2009, the Finance Ministry said.
28 July 2009 [14:37]

Azerbaijan’s communication ministry discloses possible date of launch of own satellite

The results of the tender opened to select a company to create Azerbaijan’s first national communication satellite will be summed up next week, Azerbaijani communication minister Ali Abbasov said.
28 July 2009 [12:46]

Turkmenistan plans to export gas to United Kingdom

Turkmen President Gurbanguly Berdimuhammed has stated that Ashgabat is interested in supplying gas to the United Kingdom.
28 July 2009 [11:58]

European Commission official: Azerbaijan’s collaboration with Russia does not shackle its involvement in Nabucco project

The Nabucco Gas Pipeline Project enjoys all chances to be implemented, said Ambassador Marc Franco, the outgoing head of the European Commission delegation to Russia.
28 July 2009 [09:08]

President Ilham Aliyev inspects reconstruction work in Baku and construction of new roads (PHOTO)

President of Azerbaijan Ilham Aliyev inspected rebuilding work in the capital and construction of new roads on July 27.
27 July 2009 [16:35]

Azerbaijani mobile operators Azercell and Azerfon reach agreement

Management of Azerfon and Azercell met at the Ministry of Communication and Information Technologies to settle the conflict between the two mobile operators on July 25, Azercell said.
27 July 2009 [15:57]

WTO members support Azerbaijan’s accession under favorable terms: foreign ministry

Some members of the World Trade Organization support Azerbaijan’s accession to the organization under favorable conditions, the Foreign Ministry said in a statement.
27 July 2009 [12:21]

World oil prices reach $69 per barrel

Oil quotations on Asian stock exchanges reached $69 per barrel on July 27.
27 July 2009 [10:58]

Finnish businessmen can hinder Nord Stream gas pipeline construction

Nord Stream has new opposers now.
27 July 2009 [10:18]

Azerbaijan, Iraq, Egypt, Turkmenistan are first potential suppliers for Nabucco: Austrian federal chancellor

Azerbaijan, Iraq, Egypt and Turkmenistan are potential suppliers of the first round of implementation of the Nabucco project, Austrian Federal Chancellor Faymann said.
25 July 2009 [09:07]

Rise in world oil prices

Oil prices ended above 68 U.S. dollars a barrel on Friday and gained for the second straight week as investors felt more confident about the global economy, Xinhua reported.
24 July 2009 [15:59]

Korea's delegation visits Azerbaijan

Korean delegation was on a visit to Azerbaijan.
24 July 2009 [15:16]

SOFAZ's assets hit $12bln: head of fund

The revenues of the State Oil Fund of Azerbaijan (SOFAZ) were 3.156 billion manat and expenditures - 2.685 billion manat in January-June, 2009, SOFAZ Executive Director Shahmar Movsumov said at a news conference.
24 July 2009 [15:09]

166 more loans issued for Azerbaijani entrepreneurs on preferential terms

The Azerbaijani National Entrepreneurship Support Fund at the Azerbaijani Ministry of Economic Development issued 166 loans more on preferential terms on July 24, the Ministry said.
24 July 2009 [13:59]

Russian expert: Opening of Armenia-Turkey border to make Armenian exports cheaper

Opening of the Armenia-Turkey border will reduce cost of Armenian exports specifically that of mining products, Transition Economies Institute expert Lev Freinkman said.
24 July 2009 [12:14]

Armenia not to see economic growth in 2009: Russian expert

“Armenia will not see economic growth and inflation will surpass the projected figure in 2009,” Russian expert at the Institute of Transition Economies Lev Freinkman said.
24 July 2009 [11:07]

Belarus should set up effective partnership with Kazakhstan, Turkmenistan and Azerbaijan: president

Belarus should set up effective partnership with Kazakhstan, Turkmenistan and Azerbaijan.
23 July 2009 [17:30]

Two Azerbaijani mobile operators launch negotiations to settle differences

Azercell and Azerfon have launched talks to settle differences regarding cut-off of interconnection channels, Azercell said.
23 July 2009 [10:19]

Customs agencies contribute more to public budget revenues: customs committee chairman

Customs agencies contribute more to public budget revenues.
23 July 2009 [09:36]

Azerbaijan to meet grain demand from domestic production in 2009: agriculture minister

Azerbaijan’s grain output including maize is expected to reach 3 million tons in 2009, 2.2 million tons of which will be wheat.
23 July 2009 [09:22]

Azerbaijan secured economic stability: finance minister

Azerbaijan has secured stability of economy.
22 July 2009 [16:44]

Impact of world financial crisis on Azerbaijani economy minimzed: Azerbaijani president

On July 22, the Cabinet of Ministers held a large meeting on the socio-economic results of the first half of 2009.
22 July 2009 [12:52]

Crude prices fall below $65.21 per barrel

Oil prices fell for the first time since the last six trade sessions following official data testifying to increased oil reserves in the U.S. earlier last week.
22 July 2009 [11:38]

Baku to host EITI meeting

Extractive Industries Transparency Initiative (EITI) Council will hold its next meeting in Baku, Norwegian ambassador to Azerbaijan Jone Romberg said.
22 July 2009 [11:21]

Special envoy: U.S. wants to help Caspian, Central Asian countries to find new routes to energy markets

U.S. State Department Special Envoy for Eurasian Energy Richard Morningstar addressed the Senate Committee on Foreign Relations.
21 July 2009 [17:55]

United Kingdom supports reforms in Azerbaijan: London mayor

The United Kingdom supports reforms implemented in Azerbaijan, business transparency, corporative governance and transition to international accounting system, London City Mayor Alderman Ian Luder said in Baku.
21 July 2009 [17:31]

Azerbaijani launches new well in Oil Rocks

Azerbaijan’s Azneft production union has launched a new well in Oil Rocks field, the SOCAR Web site said.
21 July 2009 [16:41]

Azerbaijan launches export of own gold

RV Investment Group (deals with development of gold fields) and the Azerbaijani government signed a protocol on Azerbaijani gold export on July 21, founder and president of the company Reza Vaziri said on July 21.
21 July 2009 [16:16]

Date set for first Baku-Lvov flight

First Baku-Lvov flight will be carried out on August 3, 2009, Simurq Travel, engaged in the sale of tickets, said.
21 July 2009 [14:37]

Ganja-Odessa-Ganja flight to be launched to boost tourism in Azerbaijan

Ganja-Odessa-Ganja flight will be launched to boost tourism in Azerbaijan and provide convenience of passengers.
21 July 2009 [14:01]

Armenia’s imports surpass exports more than 4 times

Armenia’s exports reduced 45.9 percent in January-June 2009 and totaled 98.9 billion drams.
21 July 2009 [12:33]

Armenia's economy declined 16.3 percent in January-June 2009

Armenia’s GDP shrank 16.3 percent in January-June 2009
20 July 2009 [15:32]

Oil export via BTC to reach 50 million tons in 2009: SOCAR president

Oil export via the Baku-Tbilisi-Ceyhan oil pipeline will reach 50 million tons in 2009, SOCAR President Rovnag Abdullayev said at a meeting with Swedish Foreign Minister Karl Bildt in Baku, the SOCAR Web site reported.
20 July 2009 [13:38]

Azerbaijan may offer sattelite services soon: communication minister

Azerbaijan may offer sattelite services soon, Azerbaijani Communication and Information Technology Minister Ali Abbasov said.
20 July 2009 [12:32]

Iran says its participation in Nabucco gas pipeline project is quite possible

Head of Iran’s national gas company Azizullah Ramezani says Iran’s involvement with filling up Nabucco is “quite possible”, Fars news agency reported.
20 July 2009 [11:37]

69 percent housing privatized in Azerbaijan

Housing of 23.1 million square meters has been privatized in Azerbaijan which makes up 68.9 percent of total housing, the State Statistics Committee said.
20 July 2009 [10:56]

SOCAR, Botas to continue talks on Azerbaijani gas prices in August

The next stage of negotiations between Azerbaijani SOCAR and Turkish Botas on volume and price of Azerbaijani gas exported to Turkey as a part of the Shah Deniz-I will be held in early August, the SOCAR Web site said.
20 July 2009 [09:28]

Railway accounts for 45 percent of transport in Azerbaijan

In January-May 2009, nearly 17.4 million tons of cargo and 82.4 million passengers were conveyed via Europe-Caucasus-Asia transport corridor (TRACECA), the State Statistics Committee said.
18 July 2009 [08:57]

Oil prices hit $63 per barrel

Oil prices demonstrated a rise following a report on unexpected rise in number of newly-built buildings in the U.S., Bloomberg reported.
17 July 2009 [12:22]

Azerbaijan’s foreign trade turnover hits $6. 853 billion

Azerbaijan reached $6.853 billion foreign trade turnover with 120 countries in January-May, 2009, the State Statistics Committee said.
17 July 2009 [10:27]

Azerbaijan’s communication services grew 12 percent in Q1 2009

In January-July 2009, Azerbaijan’s communication sector rendered services worth 468.3 million manat, a rise of 12.3 percent from the same period of 2008, the State Statistics Committee said.
16 July 2009 [17:16]

ICT revenues grow 30-35 percent per year: Azerbaijani communication minister

Revenues from information and communication technologies grow 30-35 percent in Azerbaijan per year in recent years, Azerbaijani Communication and Information Technology Minister Ali Abbasov said.
16 July 2009 [14:01]

Average salary ups almost 20 percent in Azerbaijan

The average salary totaled 298 manats in Azerbaijan in the first quarter of 2009. a rise of 19 percent from the same period of 2008, the State Statistics Committee said.
16 July 2009 [13:31]

75 mobile phones account for every 100 people in Azerbaijan

“The market of mobile phones is striving in Azerbaijan and it is one of the most attractive areas for investments,” Azerbaijani Communication and Information Technology Minister Ali Abbasov said.