Business

01 December 2006 [10:49]

Azerenergy warns 46 executive power chiefs

Azerenergy has sent a letter of warning to executive power heads of 46 regions on unsatisfactory level of collection of the electric bills.
01 December 2006 [10:49]

Azercell Telecom concludes roaming deal with Telenor

Azercell Telecom JV has concluded a roaming agreement with Pakistan's Telenor.
01 December 2006 [10:47]

TRACECA Permanent Secretariat to meet in Chisinau

A meting of Permanent Secretariat of TRACECA Intergovernmental Commission and national secretaries of the member states will take place in Chisinau, Dec. 14-15.
01 December 2006 [10:36]

Bank Standard signs agreement with Azauto and Itochu

Bank Standard concluded a trilateral agreement with Azauto and ITOCHU Corporation.
01 December 2006 [10:35]

Trades at BICEX, Nov. 30

The weighted average exchange price made up 0.8716 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange.
01 December 2006 [10:34]

Azerkreditbank's assets grow 53%

The assets of Azerbaijan Credit Bank Joint Stock Commercial Bank grew by 53% in January-September to AZN 7.8m.
01 December 2006 [10:33]

2 200 illegal electricity users found in Ganja

2 200 customers were found illegally using electricity in Ganja.
01 December 2006 [10:32]

Azerdemiryolbank to issue chip cards

Azerdemiryolbank JSB will issue chip cards from January 1, 2007.
01 December 2006 [10:31]

Bridges and pedestrian tunnel to be commissioned

Two intersection bridges and one pedestrian tunnel will be in operation by this year's end.
01 December 2006 [10:30]

Tehran to host transport conference

A subregional conference examining various fields of transportation will take place in Tehran on Dec. 18-19.
01 December 2006 [10:23]

AIOC increases Azeri-Chirag-Guneshli oil output by 82%

Azerbaijan International Operating Company increased oil output by 82%, year-over-year, to 18 498 000 metric tons in Azeri-Chirag-Guneshli during the period of January-October.
01 December 2006 [10:20]

151 794 water meters installed

As of November 20, Azersu JSC has to date installed 151 794 water meters.
01 December 2006 [10:12]

President Aliyev approves agreement on air connections between Azerbaijan and Korea

Azerbaijani President Ilham Aliyev approved the agreement on air connections between Azerbaijan and Korea.
01 December 2006 [00:46]

Georgian Premier meets Caspian Integration Business Club members

Visiting Georgian Prime Minister Zurab Nogaideli met with members of the Caspian Integration Business Club at the Baku Business Center.
01 December 2006 [00:45]

Agriculture Minister meets attache of U.S. Foreign Agricultural Service

Azerbaijan's Minister of Agriculture Ismat Abbasov met with Attache of the United States Department of Agriculture's Foreign Agricultural Service, Ralph Gifford.
01 December 2006 [00:43]

Azercell offers new roaming service

Azercell Telecom joint company started to render new roaming services through three more networks of Indian Bharti Airtel company - Kerala, Gujarat, Punjab, increasing the number of its roaming agreement with Bharti Airtel company's networks to ten.
01 December 2006 [00:17]

Russia to sell electricity to Azerbaijan on previous terms

Russia's RAO UES (Unified Energy Systems) has agreed to provide electrical energy to Azerbaijan on previous terms from December 1.
01 December 2006 [00:01]

Georgia seeks to increase gas exports from Azerbaijan

Georgia intends to buy 1.4 billion cubic meters of gas from Azerbaijan next year, Prime Minister Zurab Nogaideli said at a news conference following talks with the Azerbaijani leadership here on Thursday.
30 November 2006 [14:37]

Oil prices rise in Azerbaijan

30 November 2006 [13:01]

Retail prices of gas to increase twofold in 2007

The price of gas in Azerbaijan will probably rise on Jan. 1.
30 November 2006 [12:59]

Aviation fuel might not be exported from Batumi in 2007

Aviation fuel might reportedly not be exported from Georgia's Batumi port in 2007, because the Azerbaijani Airlines (AZAL) has begun to buy large shipments of this fuel for its own needs.
30 November 2006 [12:56]

Gas provision restored in North-West regions of Azerbaijan

Gas provision of the North-West regions of Azerbaijan was restored on November 30.
30 November 2006 [12:50]

Azeristiliktejhizat to punish heating pipe spoilers

Azeristiliktejhizat Heating Supply OJSC has started to repair and reconstruct heating systems due to winter.
30 November 2006 [10:23]

AIOC increases oil exports by 89%

Azerbaijan International Operating Company (AIOC) increased oil exports by 88.6%, year-over-year, to 16 634 000 metric tons during the period of January-October.
30 November 2006 [10:20]

Huseyn Arabul prohibited to leave Azerbaijan

Prosecuting attorney prohibited Barmek-Azerbaijan President Huseyn Arabul to leave Baku for Ankara.
30 November 2006 [10:18]

Gas supply to North-West regions stopped

The supply of natural gas to Zagatala was stopped.
30 November 2006 [10:15]

Bakielectricshebeke prepares for winter

Bakielectricshebeke has to date renewed some 60 transformers in Baku and surrounding districts, laid 17km-long electricity line and installed over 4 000 electric meters.
30 November 2006 [10:13]

AtaHolding to build tractor plant

AtaHolding intends to build a tractor plant in Azerbaijan.
29 November 2006 [23:55]

Trades at BICEX, Nov. 29

The weighted average exchange prices made up 0.8716 AZN for 1 US dollar in the Baku Interbank Currency Exchange on November 29.
29 November 2006 [23:52]

President Aliyev receives Executive Chairman of Dubai Ports, Customs and Free Trade Zone Corporation

President Ilham Aliyev of Azerbaijan on November 29 received Sultan Ahmad Bin Sulayem, Executive Chairman of Dubai Ports, Customs and Free Trade Zone Corporation.
29 November 2006 [14:39]

Azerbaijan to increase gas output by 11%

Azerbaijan intends to produce 5bn cubic meters of natural gas next year.
29 November 2006 [14:38]

Saakashvili meets Aliyev in 'historic' gas talks

President Saakashvili said his meeting with Azeri counterpart Ilham Aliyev on the sidelines of the CIS summit in Minsk on November 28 will have "very important" results, as Tbilisi tries to obtain alternative sources of gas supplies to ease dependency on Russia's Gazprom.
29 November 2006 [12:41]

Ukraine, Belarus, Azerbaijan suggest oil, gas consortium

As Today.Az reported earlier, presidents of Belarus, Ukraine and Azerbaijan were discussing energy security in Minsk.
29 November 2006 [11:47]

Profits of Azerbaijan from TRACECA transit exceed $182 million

The volume of transportation through the international Transport Corridor Europe-Caucasus-Asia (TRACECA) for January-October 2006 has grown 7.2% and reached 35.9 million tonnes, the State Statistic Committee of Azerbaijan said.
29 November 2006 [11:35]

The budget surplus stands at 2.1% of GDP in Azerbaijan in January-September

The incomes and expenditures of the State Budget of Azerbaijan equaled AZN 2 683.6m and AZN 2 420.9m respectively.
29 November 2006 [11:32]

Favorable balance of trade makes $1bn in Azerbaijan in January-October

Favorable balance reached $999 941 900 in exports and imports of Azerbaijan during the period of January-October.
29 November 2006 [11:27]

Azerbaijan parliament approves oil-heavy 2007 budget

Azerbaijan's parliament passed a 2007 budget Tuesday that increases projected income and spending by some 40 percent over last year, relying largely on oil for revenues.
29 November 2006 [10:49]

Bank Respublika completes credit facility usage

Bank Respublika has used the second tranche allowed by the Netherlands Development Finance Company (FMO) and lent $4m to oocal beneficiaries.
29 November 2006 [10:44]

Cargo transportation grew 13.1% in January-October

Azerbaijani transport companies carried 117.5m tonnes of goods within January-October this year which represents an increase of 13.1% the same period last year.
29 November 2006 [10:43]

32.2% of the unemployed have higher education

As of November 1, economically active population of Azerbaijan reached 3 960 800 in number, of which 33.4% are hirelings.
29 November 2006 [10:41]

1 885 buildings, 210 schools, 126 kindergartens, 84 hospitals to get heating in winter

Azeristiliktechizat OJSC plans to implement a heating project in order to improve heating supply of the regions.
28 November 2006 [23:40]

Trades at BICEX, Nov. 28

The weighted average exchange prices made up 0.8718 AZN for 1 US dollar in the Baku Interbank Currency Exchange on November 28.
28 November 2006 [23:16]

Bakhtiyar Mammadov: "Non-compulsory registration of domains brings about increase of electronic newspapers"

Websites opened in Azerbaijan in 1997 and 1998 and electronic newspapers appeared in 1999, but they have not been registered by the Justice Ministry yet.
28 November 2006 [15:49]

More than $1.5 billion required to create Kazakh Caspian oil transportation system

A Kazakh Caspian oil transportation system is planned to be formed by 2010. The total value of the project is approximately $1 billion 600 million. Mahambet Batyrbayev, Vice President of JSC "NC "KazMunaiGaz", Director of KMG Office for Western Region, has stated this at the I Caspian Investment Forum.
28 November 2006 [15:31]

Seminar for customs officers helt at WCT regional training center

According to the State Customs Committee, World Customs Organization's Baku Regional Training Center is playing host to a seminar on Application of the World Trade Organization's Customs Valuation Agreement for customs officers of the Economic Cooperation Organization member countries.
28 November 2006 [15:27]

Int'l seminar on Islamic economy and banking held in Baku

The Azerbaijan State Economic University hosts an international seminar entitled "Basics and Practice of the Islamic Economy and Islamic Banking" with the assistance of the Islamic Development Bank’s (IDB) Islamic Research and Training Institute.
28 November 2006 [15:25]

Iranian MPs approve of Iran-Azerbaijan trade agreement

Iranian parliament members here on Tuesday voted in favor of two agreements with Switzerland and Azerbaijan as well as two bills on Iran's membership in two international conventions.
28 November 2006 [11:48]

Domestic capital investment grows by 38%

Over AZN 4 750.1m, 15% up from last year, was directed to capital investment in Azerbaijan during the period of January-October.
28 November 2006 [11:47]

Communications services increase by 22.6%

Communications services of AZN 434.8m were provided for the legal entities and individuals in Azerbaijan during the period of January-October.
28 November 2006 [11:46]

Azerbaijan to join international exhibition in Spain

Azerbaijan will attend the FITUR-2007 tourism exhibition in Spain.
28 November 2006 [11:45]

France-Azerbaijan cooperation commission to meet next year

France-Azerbaijan intergovernmental commission for economic cooperation will meet in Paris early January, 2007.
28 November 2006 [11:45]

Azerbaijan, Russia to fix date for gas negotiations

Azerbaijan and Russia will fix the date of the next round of talks between Azerbaijan and Gazexport, the Russian Gazprom's arm, on setting the volume and price for Russian gas supplies to the Caspian country in 2007.
28 November 2006 [11:34]

State Property Agency announces new tenders

The State Committee for Public Properties Management has announced an investment tender for the sale of the stocks of Tovuz Sharab-2 OJSC and a tender for the sale of the stocks of Tovuz Salyan Khidmat (Service) OJSC.
28 November 2006 [11:33]

Electrical project in Lenkeran completed with U.S. assistance

The U. S. Agency for International Development (USAID) will hold the opening ceremony of the electrical system rehabilitation project implemented by USAID's Community Development Activity Program in Isti Su community of Lenkeran district, Tuesday.
28 November 2006 [11:32]

Azerbaijan-Kazakhstan business forum to be held at Astana

A business forum between Kazakh and Azerbaijani businessmen will be organized at Astana.
28 November 2006 [11:31]

IBA to increase authorized capital by 2.5 times in 2007

The stockholders have come to agreement to increase the authorized capital of the International Bank of Azerbaijan (IBA) to AZN 100m in 2007.
27 November 2006 [20:11]

Taxes Ministry lifts arrest put on bank account of ANS

Taxes Ministry lifted arrest put on bank account of ANS TV and ANS CM radio.
27 November 2006 [20:10]

Azerbaijan, Iran to have parallel power grid regimes

Azerbaijan and Iran have agreed on mutual power supplies in their alternating consumption peak seasons from December 1, the Azerenergy national power utility said Monday.
27 November 2006 [20:01]

Ukraine and EU mean to construct new gas pipeline from Azerbaijan to Ukraine

As Vice President of the "Strategy 1" foundation, former Deputy Chairman of the UkrTransNafta Mykhailo Honchar said, a new gas pipeline from Azerbaijan to Ukraine will run on the Black Sea floor.
27 November 2006 [19:49]

Trades at BICEX, Nov. 27

The weighted average exchange prices made up 0,8723 AZN for 1 US dollar in the Baku Interbank Currency Exchange on November 27.
27 November 2006 [19:44]

President Aliyev meets WTO official

27 November 2006 [19:24]

U.S. tells Georgia to avoid long-term gas deals with Iran

The U.S. will not approve Georgia's long-term energy-related cooperation with Iran, but it seems it may turn a blind eye on short-term Georgian-Iranian deals envisaging emergency gas supplies during the winter period.
27 November 2006 [17:28]

Authorized banks cut mortgage interest by 30-40%

The authorized banks of Azerbaijan Mortgage Fund have reduced mortgage interest rate as per the amendments to the mortgage law.
27 November 2006 [15:11]

Taxes Ministry puts arrest on bank account of ANS Group of Companies

Taxes Ministry put arrest on bank account of ANS TV and ANS ChM radio, the adviser of the president of ANS group of companies Mais Mammadov informed.
27 November 2006 [14:37]

Azerbaijan may refuse Russian electricity next month

Russian RAO EES (Unified Energy Systems) has sent Azerbaijan's Azerenergy the draft agreement on the amount and prices of electricity it will provide for this country in 2007.
27 November 2006 [10:04]

Exxon Mobil leaves Azerbaijan

Exxon Mobil has informed SOCAR it will cancel Exxon Azerbaijan Operating Company on Dec. 19, 2006.
26 November 2006 [16:33]

Azerenerji reps to visit China

Azerbaijan's major electricity company Azerenerji said its representatives would visit China at the invitation of the China National Electronic Equipment Company (CNEEC).
26 November 2006 [16:22]

TACIS program to support regional economic development starts

The consortium of three European consulting companies headed by GDSI Ltd. from Ireland has begun to implement the TACIS program to support regional economic development. The program with a EUR 3.5 million budget will be implemented in 36 months.
26 November 2006 [16:18]

Azersigorta collects insurance premiums of AZN 4.5 million

The State Insurance Company Azersigorta collected insurance premiums of AZN 4,519,000 (+AZN 500,000 or +11% against the Jan.-Sept. 2005) in Jan.-Sept. 2006.
26 November 2006 [16:16]

Insurers' conference to be conducted Nov. 28.

The Azerbaijani insurers' conference that will amalgamate their different associations into one will be conducted at the Baku Enterprise Center on Nov. 28.
26 November 2006 [16:11]

Bank of Baku's assets increased by AZN 12.29 million

The assets of the Bank of Baku increased by AZN 12.29 million (22.52%) in Jan.-Oct. 2006 and totaled AZN 66.89 million. The loan portfolio increased by AZN 13.42 million (45.66%) to AZN 42.82 million.
26 November 2006 [16:07]

Roads to be repaired in Tovuz

The Tovuz district's authorities invite bids to repair the roads there.