Business

09 May 2007 [11:36]

AzeriGas receives natural gas at deficit

737.09 million cubic meters of gas were delivered to AzeriGas, the State Gas Company of Azerbaijan, against the planned 855.88 million cubic meters in April, 2007 (86.1%).
08 May 2007 [16:33]

Azerbaijan gets Russia's okay for vessel passage

Azerbaijan State Shipping Company has received Russian Federal Agency for Sea and River Transport's okay to its request for a vessel passage via Russia's waters from April through November.
08 May 2007 [15:41]

AzAL to operate direct Baku-Antalya flights

Azerbaijan Airlines State Concern is planning to operate direct flights between Baku and Antalya from June 19.
08 May 2007 [13:50]

Azerbaijan, World Bank to continue work on education reforms

The Education Reform Program between the Government of Azerbaijan and the World Bank is finishing this year, the country's education minister said.
08 May 2007 [10:04]

Transport Minister meets UAE's senior transport official

Mattar Al Tayer, Chairman and CEO of the UAE's Roads & Transport Authority (RTA), received Ziya Mammadov, Minister of Transport in the Republic of Azerbaijan and the accompanying delegation.
08 May 2007 [09:46]

SOCAR more than doubles payments to state budget in April

The State Oil Company of Azerbaijan (SOCAR) transferred AZN 69,621 to the state budget in April, up 2.16 times from the same period last year.
08 May 2007 [09:35]

UniBank's assets grow 91% for Q1

As of April 1, the assets of Azerbaijan's UniBank reached AZN 169,862,380, up 91.13% from a year earlier.
08 May 2007 [08:05]

Azerbaijan outperforms post-soviet states in industrial growth

Azerbaijan outperformed the Post-Soviet states, also commonly known as Commonwealth of Independent States (CIS), during the first quarter with the highest rate of industrial growth at 38.6%, said the CIS Statistical Committee.
08 May 2007 [08:04]

Azerbaijan chooses invoice makers in context

Azerbaijan's Finance Ministry has completed a competition for printing of tax invoices.
08 May 2007 [08:03]

Azerbaijan Marketing Society works out Azerbaijan Exports Catalogue

Despite rapid growth in Azerbaijan??™s industry, the country??™s export potential is not effectively promoted globally. Experts say there is a gap in promotion of Azerbaijan and its exports.
08 May 2007 [08:00]

Trainings are held for specialists of Tariff Council and energy sector

National Association of Regularity Utility Commissioners (NARUC) has organized trainings founded by US Agency for International Developments (USAID) for the specialists of Azerbaijan's Tariff Council and energy sector on tariff facilities, principles and methods of setting prices.
07 May 2007 [22:39]

Inspections in Avropa gapilari continue

The inspections in Avropa gapilari OJSC has not yet finished, founder of the company, parliamentarian Baba Tagiyev said.
07 May 2007 [22:26]

Garib Mammadov: "Some municipalities give orders on behalf of neighboring territories or state-owned lands"

"Some municipalities give orders on behalf of the neighboring territories or state-owned lands and this causes problems," chief of Land and Cartography Committee Gerib Mammadov said.
07 May 2007 [22:25]

Trades at BICEX, May 7

The weighted average exchange prices made up 0.8633 AZN for 1 US dollar in the Baku, Interbank Currency Exchange on May 7.
07 May 2007 [16:09]

Huseyn Arabul undergoes surgery

President of "Barmek" Azerbaijan Electricity Distribution LLC Huseyn Arabul has undergone surgery on his eye in "Khazar University" hospital, Huseyn Arabul's son Zafar Arabul told.
07 May 2007 [14:48]

Two more road bridges to be commissioned

Two more bridges will be commissioned in Baku in June within the scope of the program to solve the increasing traffic congestions in the capital.
07 May 2007 [14:47]

Sumgait Chemical Industry Development Program needs $1 billion

A State Program for Chemical Industry Development in Sumgait, the industrial city of Azerbaijan, is being worked out at a presidential behest.
07 May 2007 [14:45]

Azerbaijan decreased oil products export in January-April of 2007 by 32%

Azerbaijan state oil company (SOCAR) exported 695,161 thousand of tones oil products in January-April of 2007 which is 32% less then the same figure of last year.
07 May 2007 [13:56]

Intelsat, Eutelsat, Intersputnik eye Azersat national communications satellite project

Intelsat, Eutelsat and Intersputnik are taking interest in Azersat project aimed to orbiting a national communications satellite of Azerbaijan.
07 May 2007 [13:25]

Education Ministry will be granted 1000 laptops

According to the memorandum signed on March 29, 2007, with the Ministry of Education of Azerbaijan, "Ultra" company, the official representative of Intel corporation in Azerbaijan, will gratuitously transfer 1000 NEXUS laptops to the ministry.
07 May 2007 [08:29]

AzerPost receives UPU Gold Level Certificate

Azerbaijan's state-run postal enterprise "AzerPost" has received a Gold Level Certificate from the Universal Postal Union (UPU), Azerbaijan Ministry of Communications and Information Technologies announced.
07 May 2007 [08:26]

Delegation of Ludwigshafen visits BASF's Sumgait enterprise

The delegation of the Germany city of Ludwigshafen visited the local enterprise of Germany??™s BASF chemical company in Sumgait on May 5.
07 May 2007 [07:30]

SOCAR eyes Indian oil deal

Azerbaijan's state oil firm SOCAR is close to signing a contract with a major Indian oil company on direct crude oil supplies to one of the firm's refineries, a Socar official said Friday.
05 May 2007 [13:34]

Trades at BICEX, May 4

The weighted average exchange prices made up 0.8632 AZN for 1 US dollar in the Baku, Interbank Currency Exchange on May 4.
05 May 2007 [13:32]

Azeri, Kazakh and Georgian transport workers hold meeting in Aktau

A meeting of transport workers from Azerbaijan, Kazakhstan and Georgia wrapped up in the Kazakh city of Aktau.
05 May 2007 [13:31]

Azeri entrepreneurs to visit China

The National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan continues to organize foreign trips for local businessmen.
05 May 2007 [13:13]

4552 mortgages registered in the first 4 months of 2006

11742 extracts were registered since 1 March, 2006 by now.
05 May 2007 [12:59]

Finance Minister leaves for Kyoto

Azerbaijan's Finance Minister Samir Sherifov has left for Japan to attend the annual meeting of Asian Development Bank.
05 May 2007 [12:58]

$350m invested in privatized enterprises

Azerbaijan's State Committee for Property Management have taken measures to attract investors and privatization of nearly 15 stock companies on car-building, chemistry production of construction materials, communication, possessing of agricultural goods and other fields.
05 May 2007 [12:46]

OSCE Chairman to visit South Caucasus

The exact date of OSCE Chairman-in-Office, Spanish Foreign Minister Miguel Angel Moratinos' visit to the South Caucasus will be publicized in ten days.
05 May 2007 [12:39]

State Agency for Standardization, Metrology and Patents to organize trainings

Azerbaijan's State Agency for Standardization, Metrology and Patents and US Agency for International Developments (USAID) will organize trainings in Baku from May 7-11 and in Ganja from May 14-18.
05 May 2007 [12:38]

Caspian Integration Business Club members met with SOCAR officials

Caspian Integration Business Club members met with SOCAR Marketing and Economic Operations General Manager Mukhtar Babayev and Gas Operations official Kamal Abbasov.
05 May 2007 [12:36]

Azerbaijani railmen to learn Korea's experience

A delegation of specialists of Azerbaijani State Railways will pay business visit to South Korea at the invitation of Korea's Construction and Transport Minister.
05 May 2007 [12:35]

Baku to host meeting of Intra-European Organization of Tax Administrations

Baku will host the meeting of Intra-European Organization of Tax Administrations from May 16 to 18.
05 May 2007 [12:34]

Paris Appeals Court to announce its decision on FimBank's appeal in late May

On May 3 Paris Appeals Court considered Malta's FimBank's appeal against 10 November, 2006 verdict returned by Paris Higher Instance Court in favor of Azerbaijan.
05 May 2007 [11:52]

Soros Foundation spends $4mln in Azerbaijan

The Open Society Institute - Assistance Foundation (Soros Foundation) spent approximately US $4 million on implementation of different programs in Azerbaijan during 2006.
05 May 2007 [11:51]

Azerbaijan generates 1.9 billion KW-h electricity

During April, Azerbaijan produced 1.9 billion kilowatts-hour of electricity, of which 1.7 billion kilowatts-hour generated by thermal power stations and the rest by hydropower stations.
05 May 2007 [11:49]

Tax terminal to go on stream in Khirdalan soon

Tax computer terminal will be commissioned in Khirdalan soon.
05 May 2007 [11:48]

Mortgage Fund lends 1,000 loans worth AZN 36 million

Azerbaijan Mortgage Fund (AMF) has to date lent 1,000 mortgage loans worth AZN 36 million through its authorized organizations.
05 May 2007 [11:47]

Nusirevan Meherremli: "It is not right to set the same license price for regional and federal TV channels"

The problem on licensing local Lenkeran TV and Zagatala's Aygun TV can be solved soon.
05 May 2007 [11:45]

Azerbaijan's budget surplus reaches AZN 252.34mln, Q1

Azerbaijan's state budget was executed with a surplus of AZN 252.34 million for the period of January-March.
05 May 2007 [11:37]

Shakh Deniz raises peak gas output forecast

Azerbaijan's huge Shakh Deniz gas field may reach peak annual production of 9.6 billion cubic metres in its first phase rather than the previous forecast of 8.6 bcm, Azeri state energy firm Socar said on Friday.
04 May 2007 [17:15]

Azerdemiryolbank: "Our aim is to attract new investment inflow to Azerbaijan's economy"

Roman Amirjanov, Chairman of the Management Board of Azerdemiryolbank Joint-Stock Commercial Bank, interviewed by APA-Economics
04 May 2007 [16:00]

Turkmenistan invites Chevron to join Caspian oil, gas projects

Turkmenistan's president, Gurbanguly Berdymukhammedov, has invited Chevron Corp. to participate in the exploration and development of hydrocarbon fields in the Turkmen part of the Caspian sea, the Turkmen government said late Thursday.
04 May 2007 [15:28]

License for alcohol withdrawn from beverage producers

Azerbaijan's Agriculture Ministry revoked four alcoholic drinks makers' licenses during the first quarter of 2007.
04 May 2007 [14:59]

Azerbaijan experiments electronic tax declarations successfully

Azerbaijan's Taxes Ministry has tested electronic tax declaration positive and received 900 e-declarations within a month.
04 May 2007 [14:47]

Azerbaijan to deliver fuel money to farmers to make up for prices hike

Azerbaijan had 5.3% growth in agriculture for the first quarter of 2007, the country's Agriculture Minister Ismat Abbasov told at the press conference.
04 May 2007 [13:40]

Mortgage Fund refuses to finance 200 mortgage loans

Azerbaijan Mortgage Fund (AMF) has let the authorized organizations that it would not finance 200 of the mortgage loans because of "technical mistakes" in mortgagor paperwork.
04 May 2007 [12:29]

Taxes can be paid via ATMs from next year

Taxes Ministry of Azerbaijan is working on a project of tax payment through ATMs.
04 May 2007 [12:00]

Trades at BICEX, May 3

The weighted average exchange prices made up 0.8635 AZN for 1 US dollar in the Baku, Interbank Currency Exchange on May 3.
04 May 2007 [11:34]

Huseyn Arabul's trial postponed

Trial on case of Huseyn Arabul, president of Barmek Azerbaijan Electricity Distribution LLC and six more company officers, who are accused of abuse of power, embezzlement and negligence of court judgements, continued at the Court of Grave Crimes.
04 May 2007 [11:15]

Azerbaijan's external debt stands at $230 per capita

As of April 1, Azerbaijan's external debt totaled to $1.9784 billion or the foreign debt to gross domestic product (GDP) ratio was 7.5%. The country's per capita external debt stood at $230.
04 May 2007 [09:48]

Slavneft's former president appointed as chairman of Rosneft Baku Office

Baku Office of Russia's Rosneft Company went on line.
04 May 2007 [09:39]

Aiming to reduce Russian role in Caspian, Azerbaijan builds economic ties with Asia

Azerbaijani President Ilham Aliyev's late-April trip to South Korea underscores how Asian states are becoming an increasing factor in the Caspian Basin energy equation.
04 May 2007 [09:36]

Azeri businessmen to visit Turkey in May

A delegation of Azerbaijani businessmen will visit Turkey from May 10 to 13. Azerbaijan's National Confederation of Entrepreneurs (Employers') Organizations (AEC) told that the visit is aimed at attending KONYA AMBALAJ 2007 exhibition to be held in TUYAP Exhibition Center.
04 May 2007 [09:32]

Azeri manat climbs 4.47% over US dollar in a year

In April, the exchange rate of Azeri manat against the US dollar rose 0.3% to 0.8640 AZN/USD from AZN 0.8667 AZN/USD1.
04 May 2007 [09:31]

Over 140 national reference standards made in Azerbaijan

Over 140 national reference standards have been made in Azerbaijan. Deputy Chief of Standardization Department of State Agency for Standardization, Metrology and Patents (SASMP) Galib Agayev said that Reference Standard Fund has been established in SASMP.
04 May 2007 [09:29]

Amount of March deals rises 29.4% on BICEX

145 deals were closed at 42 trading sessions held at currency department of Baku Interbank Currency Exchange (BICEX) during April.
04 May 2007 [08:09]

Azercell Telecom installs 19 more stations

Azercell Telecom JV has installed 19 more stations in Baku and different regions of the country in April this year.
03 May 2007 [17:50]

Taxes Ministry puts arrest on bank accounts of Azerenergy and Azerigas

Taxes Ministry has put arrest on the bank accounts of some state institutions and companies, Taxes Minister Fazil Mammadov told the journalists.
03 May 2007 [17:46]

Azerbaijan, Belarus to do trade through Belarus-Azerbaijan Trade House

Today, the officials of Azerbaijan's Economic Development Ministry and Belarus' Trade Ministry have come together in Baku to discuss business relations between the two countries.
03 May 2007 [17:32]

Palmali to transport SOCAR oil from Ceyhan Port

The State Oil Company of Azerbaijan (SOCAR) and Palmali Group of Companies have signed an agreement on transportation of Azeri oil pumped to the Ceyhan Port via Baku-Tbilisi-Ceyhan pipeline.
03 May 2007 [16:22]

Azerbaijan, Belarus may jointly produce household fridges

Azerbaijan and Belarus are studying the prospects of producing household fridges jointly, this idea was suggested at a meeting between Belarus' Trade Ministry and Azerbaijan's Economic Development Ministry in Baku.
03 May 2007 [16:19]

Belarus shows interest to rent storehouses in Azerbaijan

Belarus' companies take great interest to rent storehouses in Azerbaijan, the country's trade minister Aleksandr Ivanchenko told a meeting at the Economic Development Ministry of Azerbaijan.
03 May 2007 [16:18]

Nobody arrested in connection with examination in Avropa Gapilari

Nobody has been detained in connection with the examination in Avropa Gapilari (European Doors) Open Joint Stock Company.
03 May 2007 [16:17]

Taxes Ministry sends results of examination in Azpetrol to court

Ministry of taxes has sent the results of the examination in Azpetrol to the court.
03 May 2007 [16:14]

Romanian Oil Company intends to penetrate Azeri market

Romania's oil company is planning to penetrate Azerbaijani market.
03 May 2007 [16:06]

Barmek President : "I worry about my health"

Barmek-Azerbaijan Electricity Networks LLC President Huseyn Arabul will undergo eye operation tomorrow.
03 May 2007 [12:56]

Huseyn Arabul to undergo operation tomorrow

Operation will start at 09.00 and last 4-5 hours.
03 May 2007 [12:02]

Trades BICEX, May 2

The weighted average exchange prices made up 0.8645 AZN for 1 US dollar in the Baku, Interbank Currency Exchange on May 2.
03 May 2007 [11:46]

Babayev meets Iranian envoy

Azerbaijan's Minister of Economic Development Heydar Babayev here on Wednesday underlined the need for expanding economic relations with Iran.
03 May 2007 [11:32]

UAE, Azerbaijan sign transport agreement

Sultan Bin Saeed Al Mansouri, UAE Minister of Government Sector Development, signed on Thursday an international transport agreement with Ziya Mammadov, Minister of transport of Azerbaijan, to enhance the bilateral trade and transportation between the two countries.
03 May 2007 [09:59]

Azeri businessmen to attend investment conference in Aktau

A delegation composed of representatives of about 20 companies of Azerbaijan will attend the conference on investment potential of Kazakhstan to be held in Aktau on May 10-11.
03 May 2007 [09:58]

Azerbaijan's trade mission to visit LA

Azerbaijan Export and Investment Foundation (AzPromo) will send a trade mission to Los Angeles in late May.