Business

31 January 2009 [12:36]

President of Azerbaijan participates in forum on business interaction group on Azerbaijan in Davos

President of Azerbaijan Ilham Aliyev has participated in a forum on Business Interaction Group on Azerbaijan in Davos.
31 January 2009 [12:10]

President of Azerbaijan: "I can tell you that even with an oil price of $40 or $45 a barrel, which we have today, our economy will successfully function and our economy will be able to tolerate this level of price"

Azerbaijan's explosive economic growth will slow this year to 10 percent as the Caspian oil producer seeks to stabilise crude prices with oil output cuts, Azeri President Ilham Aliyev told Reuters.
30 January 2009 [18:50]

Baku-Kars air flights to resume

Air flights by the Baku-Kars route will resume in late April, said consul general of Azerbaijan to Kars Hasan Sultanoghlu, reports the Turkish Anadolu news agency.
30 January 2009 [15:43]

President of Azerbaijan invited to 13th Petersburg international economic forum

President of Azerbaijan Ilham Aliyev will be invited to Saint Petersburg for the 13th Petersburg international economic forum to be held on June 4-6 of this year, report sources from the steering committee of the forum, according to Novosti-Azeraijan.
30 January 2009 [10:27]

President of Azerbaijan attends special session on "Oil and gas geopolitics - a map in transition" in the framework of Davos economic forum

President Ilham Aliyev attended a special session on "Oil and gas geopolitics – a map in transition" held at the Morosani Schweizerhof hotel on January 29.
29 January 2009 [11:59]

National Bank of Azerbaijan to reduce discount reduce to 5%

The National bank of Azerbaijan will reduce discount rate from 8 to 5% from February 2 of this year, said the press service for the National Bank of Azerbaijan.
29 January 2009 [10:44]

SOCAR president discusses prospects of cooperation in oil and gas sector with the Iranian delegation

SOCAR president Rovnag Abdullayev received a delegation of Iranian NICO headed by its leader Mohamed Cavad Asemipur on January 28.
27 January 2009 [16:40]

Ilham Shaban: "The Nabucco project has no concept"

The Nabucco project has no concept, said Ilham Shaban, head of the Center of Oil Studies, according to Novosti-Azerbaijan.
27 January 2009 [12:37]

Azerbaijan planning to launch gas supplies to Bulgaria

Bulgaria will receive gas from Azerbaijan.
26 January 2009 [10:58]

Turkish Minister of Energy and Natural Resources to attend discussions of Nabucco project in Budapest

Turkish Minister of Energy and Natural Resources Hilmi Guler will leave for the Hungarian capital Budapest to discuss project of Nabucco gas pipeline, reports Day.Az with reference to Turkish Cihan.
26 January 2009 [10:13]

Le Figaro newspaper: "Turkey can settle the gas crisis in Europe by means of Azerbaijani, Turkmen and even Iranian gas"

Popular newspaper of French Le Figaro contains an article about strategic role of Turkey in Europe.
24 January 2009 [12:26]

Over 89,000 passenger cars imported to Azerbaijan in 2008

Last year Azerbaijan imported 89,044 passenger cars, which is 25.4% growth over 2007, said sources in the State Statistical Committee.
24 January 2009 [10:55]

Azerbaijani legislation in the statistical sphere to be brought in compliance with European standards

The State Statistical Committee of Azerbaijan continues talks with EU on twinning project estimated at EUR 900,000, said chairman of the State Statistical Committee of the country Arif Veliyev at a press conference today.
23 January 2009 [17:13]

Confederation of Azerbaijani Entrepreneurs launching new project in the sphere of social dialogue

The National Confederation of Entrepreneurs (employers) of Azerbaijan has launched implementation of the project "Cooperation in the sphere of social dialogue".
23 January 2009 [16:48]

Azerbaijan and Georgia among main egg importers from Turkey

The association of egg companies of Turkey raised export of production by 75% up to $120,000,000 in 2008.
23 January 2009 [16:17]

Fizuli Alekperov: "If we implement infrastructural projects in regions and villages, definite part of population will return to their native villages"

"In Azerbaijan a woman gives birth to 3.2 children", said Minister of Labor and Social Protection of the population Fizuli Alekperov.
23 January 2009 [15:19]

10,000,000 cubic meters of gas used from gas reserves of Azerbaijan every day

In 2008 Azerigaz received 11,205,000,000 cubic meters from the State Oil Company of Azerbaijan, said head of Azerigaz Alikhan Melikov at a press conference.
23 January 2009 [14:11]

Azerbaijan may see deflation in 2009

23 January 2009 [13:31]

Cost and rent of nonresidential areas drop in price in Baku again

The public association of Real estate market participants drew conclusions of the monitoring of the state of the market of nonresidential areas of the Azerbaijani capital in December of 2008.
22 January 2009 [12:17]

Fizuli Alekperov: "Our compatriots, who return from Russia, will not stay jobless in our country"

The decision of the Russian government to ban attraction of foreigners to retail trade will influence on our citizens, if there are engaged in labor activity, contradicting to these rules, said Minister of Labor and Social Protection of the Population of Azerbaijan Fizuli Alekperov.
22 January 2009 [11:24]

Azerbaijani and Kazakh delegations discuss oil transportation by Caspian Sea in London

"London hosted a meeting of the participants of the project of "Caspian shipping", supported by the British government, said sources in the Azerbaijani embassy to Great Britain.
22 January 2009 [10:53]

Land drops in price from almost $500,000 to $360,000 in Baku

The Public Association "Estate Market Participants" has drawn results of the monitoring on the state of lands in the capital of Azerbaijan in December of 2008.
22 January 2009 [10:38]

Rovnag Abdullayev: "The gas crisis between Russia, Ukraine and Europe, raised Azerbaijan's significance"

"Though SOCAR revenues dropped due to the drop in oil prices, no changes are expected in internal investment projects and social programs, said SOCAR president Rovnag Abdullayev, according to AzTV.
22 January 2009 [10:29]

SOCAR puts off purchase of Tekfen Inshaat till September of 2009

Turkish Tekfen Holding announced that the conclusion of a deal of SOCAR's purchase of 50% stocks in its daughter affiliate - Tekfen Inshaat construction, has been put off.
21 January 2009 [15:21]

One more petrol station under SOCAR brand opens in Georgia

One more petrol station under SOCAR brand opened in Dmanisi region of Georgia on January 19.
21 January 2009 [13:56]

President of Azerbaijan to attend Nabucco summit in Budapest

A summit on Nabucco project will be held in Budapest on January 26-27, said Azerbaijani Foreign Minister Elmar Mamedyarov.
21 January 2009 [13:14]

Azerbaijan, Iran sign document on cooperation in motor transport

Memorandum of mutual understanding on cooperation in the sphere of motor transport was signed at the session of the Azerbaijani-Iranian commission on motor transport on January 20.
21 January 2009 [11:04]

Delegation of Azerbaijan attends international exhibition "Green Week" in Germany

A delegation of Azerbaijan is attending the international agroindustrial exhibition "Green Week" in Germany.
21 January 2009 [10:09]

Secondary real estate market prices drop to 2007 level in Baku

The public association of Real Estate Market Participants has drawn conclusions of the monitoring of the state of secondary estate market of Azerbaijani capital through December of 2008.
19 January 2009 [18:45]

Azerbaijan sees inflation at 21% in 2008

Consumer Prices Index increased 20.8% in Azerbaijan during 2008, said the State Statistical Committee.
19 January 2009 [13:26]

Azerbaijan exports goods of total of $47 bln through 11 months of 2008

In January-November of 2008 Azerbaijan conducted import-export operations with 139 countries of a total of $53.5 bln, said sources in the State Statistical Committee.
16 January 2009 [16:57]

Economic Research Center says annual inflation was 15.4% in Azerbaijan in 2008

Annual inflation reached 15.41 percent in Azerbaijan during 2008, said according to the Economic Research Center’s report based on the Alternative Inflation Methodology Development Project.
16 January 2009 [15:20]

Mutual trade turnover between Azerbaijan and Ukraine nears $1 bln

The mutual trade turnover between Azerbaijan and Ukraine made about $1 bln last year, said Ukrainian ambassador to Azerbaijan Boris Klimchuk, according to Novosti-Azerbaijan.
16 January 2009 [14:04]

Azerbaijan might raise volumes of fuel oil supplies to Ukraine

Volumes of fuel oil supply from Azerbaijan to Ukraine may grow in 2009, said Ukrainian ambassador to Azerbaijan Boris Klimchuk at a press conference on Friday.
16 January 2009 [12:01]

Inglab Ahmedov: "The fact that oil price is fixed on the level of $70 in the budget of this year does not mean that the budget will have great losses"

The fact that oil price is fixed on the level of $70 in the budget of this year, does not mean that the budget will have great losses, said famous economic Inglab Ahmedov.
16 January 2009 [11:22]

Igbal Aghazade: "Global economic crisis has affected the construction and banking sectors of Azerbaijan"

"The first stage of manifestation of the global economic crisis was observed in the leading economic sphere of Azerbaijan - oil sector", said chairman of the Umid party Igbal Aghazade.
16 January 2009 [10:03]

Alexander Prokhanov: "There are proposals to transport Azerbaijani and Kazakh gas to Europe but before their execution Europe may freeze from cold"

Famous Russian political figure Alexander Prokhanov in the interview to Turkish news agency Cihan announced that the gas crisis between Ukraine and Russia fixes the completion of Gazprom's epoch, reports Day.Az with reference to Turkish Cihan news agency.
15 January 2009 [15:10]

Azerbaijan may readjust state budget oil revenue estimate

Azerbaijan may readjust the 2009 state budget oil revenue estimate in the first half of this year, said Vahid Ahmadov, member of a parliamentary commission for economic policy.
15 January 2009 [11:28]

Estonian President: "Azerbaijan plays an important role in energy supply of Europe"

President of Estonia Toomas Hendrik Ilves who is on an official visit in Azerbaijan on January 14 met the Azerbaijani Minister of Industry and Energy Natig Aliyev.
14 January 2009 [18:56]

Azerbaijan ranking 99th for the level of economic freedom

Azerbaijan's economic freedom score is 58, making its economy the 99th freest in the 2009 Index.
14 January 2009 [14:00]

Azerbaijan to take part in several international tourism exhibitions

In January-February of this year Azerbaijan will take part in several international tourism exhibitions in order to propagandize tourism, said the press service for the Azerbaijani Ministry of Culture and Tourism.
13 January 2009 [18:48]

Azerbaijani vessel again studying shelf near Turkmenistan's shore

The vessel of Casmornefteflot of the State Oil Company of Azerbaijan Zohrab Veliyev, dealing with engineering and geological survey has again been sent to the Turkmenistan sea shore.
13 January 2009 [14:45]

NBA monetary reserves top $6 bln

13 January 2009 [11:39]

IAEA might make decision on construction of nuclear research reactor in Azerbaijan

IAEA might adopt a decision on construction of nuclear research reactor in Azerbaijan and results will come out after talks, said Azerbaijani ambassador to OSCE Fuad Ismaylov, accredited in IAEA, reports Day.Az with reference to AzTV channel.
12 January 2009 [18:01]

New WB regional director on South Caucasus appointed

The World Bank has appointed a new regional director on the South Caucasus countries Asad Alam.
12 January 2009 [13:55]

Freedom House: "Former Soviet Republics have been making steps behind for decades"

The international NGO Freedom House prepared a report "World freedom" of 2008.
12 January 2009 [12:56]

Mass dismissals in Azerbaijan connected with global financial crisis

Mass dismissals in Azerbaijan are connected with global financial crisis, said chairman of the Confederation of Trade Unions of Azerbaijan Sattar Mehbaliyev, according to Novosti-Azerbaijan.
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.