Business

22 December 2006 [13:28]

Azerbaijan to spend $480m to purchase aircrafts

Azerbaijan Airlines State Company intends to spend between $450 and $480 to purchase new aircrafts next year.
22 December 2006 [13:01]

S. Korea agrees to open-skies pact with Azerbaijan

South Korea has reached an agreement with Azerbaijan to liberalize air travel and cargo transport between the two countries, officials said Friday.
22 December 2006 [11:10]

Kapital Bank to place corporate bonds in international market

Azerbaijan's Kapital Bank intends to place two corporate bond issues in early 2007. The amounts of the issues are expected to be AZN 10m and USD 10m at par values.
22 December 2006 [11:08]

AGLeasing to triple leasing portfolio in 2007

AGLeasing intends to treble its leasing portfolio to AZN 10m in 2007.
22 December 2006 [11:07]

Turkey worried about delay of Kars-Akhalkalaki railway

Turkey is concerned over the delay of the construction of Kars-Akhalkalaki-Tbilisi-Baku railway line.
22 December 2006 [11:06]

Assets of some 13,000 state enterprises registered by State Property Registry

This year date on more than 105,000 real estates owned by some 13,000 state enterprises and their branches were received by the State Property Registry, of which 103,000 were registered.
22 December 2006 [10:58]

Explosion in steel mill

Explosion occurred in one of the departments of steel mill situated in Z. Bunyadov Avenue, Narimanov territory.
22 December 2006 [10:57]

Microsoft holds Innovation Day conference

The board of trustees of the Azerbaijan Export Investment Promotion Foundation (AzPromo) has held a workshop.
21 December 2006 [23:14]

BP-Azerbaijan holds seminar for journalists

A seminar "Regional Development Initiative (RDI) and three-year plan: 2006-2008" was held December 20 for media outlets at the BP's Enterprise Center.
21 December 2006 [23:05]

Trades at BICEX, Dec. 21

The weighted average exchange prices made up 0.8717 AZN for 1 US dollar in the Baku Interbank Currency Exchange on December 21.
21 December 2006 [22:48]

Moscow seeks to retain positions in Turkmen gas sector

The unexpected death of Turkmen President Saparmurat Niyazov left the Russian government wondering how the event will affect Turkmen gas deliveries.
21 December 2006 [22:34]

Alikhan Melikov: "Gas reserves is 200m cubic meter more in compare with last year"

"The gas reserves is 200m more in compare with last year," the chief of Azerigaz CSC Alikhan Melikov said.
21 December 2006 [16:52]

Saakashvili comments on gas supplies

Georgia's President Saakashvili said on December 21 he is optimistic about Georgia's gas supplies from Azerbaijani Shah-Deniz field after talks with the Turkish leadership, but hinted that "many technical issues" may still remain unclear.
21 December 2006 [15:32]

Itera turns off gas taps to Georgian districts, citing debt

Russian natural gas exporter Itera began switching off gas supplies to some parts of Georgia Thursday, citing unpaid debts.
21 December 2006 [15:11]

Georgia to transport power from Russia, Azerbaijan to Turkey

Georgia will ensure electric power transportation from Russia and Azerbaijan to Turkey via its territory, Georgian President Mikhail Saakashvili said in Istanbul at a meeting with the Turkish business community on Thursday.
21 December 2006 [14:22]

SOCAR president: "No problem with gas supply this year"

Azerbaijani people will face no problem in gas supply during the winter, SOCAR president Rovneg Abdullayev told reporters.
21 December 2006 [11:22]

New platform to be commissioned in Oil Rocks

The SOCAR plans to construct six platforms of 78 wells in the Oil Rocks by 2010.
21 December 2006 [11:21]

CIS Economic Council to meet in Moscow

CIS Economic Council will meet in Moscow on December 27.
21 December 2006 [11:16]

TRACECA states to lift permission system

TRACECA (Transport Corridor Europe Caucasus Asia) member states can discuss the issue on lifting permission system between the corridor states.
21 December 2006 [11:15]

Kapital Bank's main indicators to grow by 20% next year

Kapital Bank experts have drafted the 2007 budget and introduced it to the Observation Board.
21 December 2006 [11:14]

Consulting Company on special innovation zones to be determined by year's end

Azerbaijan will find an international consulting company for the proposals on the project of special innovation zones in Azerbaijan.
21 December 2006 [11:13]

National Budget Group displeased with discussion on 2007 Budget

National Budget Group delivered a presentation on the judgement of 2007 Budget.
21 December 2006 [11:10]

Moody's Investors Service assigns ratings to Kapital Bank

Azerbaijan's Kapital Bank has large-scale and ambitious plans and the new ratings will provide good opportunities to realize these ideas, Kapital Bank Management Board Chairman Rauf Rzayev said.
21 December 2006 [11:09]

Gas imports for Azerbaijan to be discussed in Moscow

Azeri, Russian officials will meet in Moscow on Dec. 22 to continue negotiations on gas supplies for Azerbaijan in 2007.
21 December 2006 [10:53]

AZAL to launch direct flights to Minsk and Munich

In 2007 Azerbaijan Airlines (AZAL) will launch direct flights to a number of cities to which Azerbaijanis travel often.
21 December 2006 [10:52]

Azerbaijan to use digital customs declaration system

Next year Azerbaijan may apply digital customs declaration system, State Customs Committee chairman Aydin Aliyev said.
21 December 2006 [10:51]

Azerbaijan ranks 85th for internet users

Azerbaijan is the leader of South Caucasus for the number of internet users according to the International Telecommunication Union.
21 December 2006 [10:49]

Trial of 7 Barmek officers to be over

The trial of 7 Barmek-Azerbaijan Electric Network officers in Republic Prosecutors Office Fight against Corruption Department is finishing.
21 December 2006 [10:47]

Azerbaijan to apply personal income declaration system next year

The issue on personal income declaration system is under discussion at the level of the Cabinet.
20 December 2006 [22:26]

Japan to allocate grant on construction high-speed railways in Azerbaijan

Japanese Government will allocate some $200 000 grant to Azerbaijani Government to arrange technical-economic basis for project on building high-speed railways in Azerbaijan.
20 December 2006 [22:13]

Trades at BICEX, Dec. 20

The weighted average exchange prices made up 0.8718 AZN for 1 US dollar in the Baku Interbank Currency Exchange on December 20.
20 December 2006 [20:41]

World Bank, Korea to assist Azerbaijan in creating e-government

The World Bank and Korea will pledge $30m to assist Azerbaijan in creating electronic government (e-gov), said Azerbaijan Minister of Communication and Information Technologies Ali Abbasov.
20 December 2006 [20:26]

Huseyn Arabul: "Government won't pay debt to Barmek"

"Economic Development Ministry tries to delay the conclusion of the final agreement with Barmek as long as possible. We have already requested the Ministry to hurry," said Barmek-Azerbaijan President Huseyn Arabul.
20 December 2006 [15:08]

Intigam Huseynov: "Trade between Azerbaijan and Russia is rapidly growing"

Trade between Azerbaijan and Russia is rapidly growing, Chairman of the Azerbaijan-Russia Business Cooperation Chamber, Intiqam Huseynov, told AzerTAg reporter.
20 December 2006 [15:06]

2nd forum of Islamic businesswomen ends in Kuala Lumpur

The second forum of businesswomen of Islamic countries was held in the Malaysian capital, Kuala Lumpur. The event gathered about 80 businesswomen from 44 countries worldwide.
20 December 2006 [15:04]

Delegation of Auditor Chamber visited France

On December1 2-16, the delegation led by chairman of Auditor Chamber of Azerbaijan Vahid Novruzov has been with a working visit in Paris.
20 December 2006 [14:53]

Armenia bans Turkish foodstuffs imports

Foodstuffs imported into Armenia should be subjected to obligatory marking in Armenia, head of the Standardization and Compliance of the Trade and Economic Development Ministry Robert Dayan announced at a news conference on December 21.
20 December 2006 [13:51]

Georgian PM says Azerbaijan to become Georgia's major gas supplier

Azerbaijan will become Georgia's major gas supplier in 2007, Georgian Prime Minister Zurab Nogaideli told the government session on December 20.
20 December 2006 [13:21]

President Aliyev decrees on establishing Commission on Export Control

Azerbaijani president Ilham Aliyev decreed on establishing Commission on Export Control.
20 December 2006 [11:22]

Azerbaijan&China to invest $12m in Sumgait Glass Manufacturing Plant

Azerbaijan and China will invest USD 12 million in creation of a joint venture in Sumgait Glass Manufacturing Plant, Industry and Energy Minister Natig Aliyev said.
20 December 2006 [11:14]

City buses raising fares illegally to be punished

The license of the buses in Baku which increase the fare illegally will be revoked, Tariff Council chairman Heydar Babayev said.
20 December 2006 [11:13]

Azerigas to cut off gas supply to regions in debt

Azerigas has warned regions that it would cut off natural gas supply, from Dec. 25, to the regions where collection of gas bills is under 60%.
20 December 2006 [11:12]

Azercell concludes three roaming agreements

Azerbaijan's leading cellular provider Azercell Telecom concluded three international roaming agreements with Brasilia's Amazonia Celular, Croatia's Vipnet Croatia and Spain's Vodafone.
20 December 2006 [11:11]

Azerbaijan and Turkey to raise trade turnover to $2 billion

Azerbaijan and Turkey plans to raise the trade turnover to $1 billion by this year's end and double to $2bn in 2007, Azerbaijan-Turkish Business Council chairman Chingiz Gul said.
20 December 2006 [11:10]

Lift systems to be reconstructed in Ganja

New lifts are being constructed in Ganja. People can use them after the reference of a special commission.
20 December 2006 [11:10]

Sheki Regional Energy LLC installs 43 072 electric meters

Kurdemir Energy Supply LLC has to date installed 43 072 electric meters.
20 December 2006 [11:09]

Turan Morali: "Turkey wants to import Azeri energy supplies"

New procedures have been developed for payment of the debt by Nakhchivan AR for the electricity imported from Turkey during 1990s, Turkish ambassador to Azerbaijan Turan Morali said.
20 December 2006 [10:59]

Ceyhun Nagiyev chosen President of Azerbaijan Leasing Companies Association

Director General of AzeriLeasing, Ceyhun Nagiyev, has been chosen President of Association of Azerbaijan Leasing Companies.
20 December 2006 [00:17]

Georgia's pipeline repair delay may leave Armenia without gas

Armenia's underground gas storage facilities may be empty this winter if Georgia fails to restore its pipeline pumping Russian gas on time, an official spokesman for Russian energy giant Gazprom said Tuesday.
20 December 2006 [00:06]

Trades at BICEX, Dec. 19

The weighted average exchange prices made up 0.8718 AZN for 1 US dollar in the Baku Interbank Currency Exchange on December 19.
20 December 2006 [00:02]

Iran-Azerbaijan trade agreement implemented

A trade agreement between Iran and Azerbaijan approved by the Parliament and Guardians Council earlier was communicated to the governmental bodies by the president on Tuesday.
19 December 2006 [23:46]

Georgia, Azerbaijan, Turkey failed to reach a compromise

Azerbaijani Energy Minister Natig Aliyev said that representatives of Georgia, Azerbaijan and Turkey failed to reach an agreement over redistribution of Turkey's share of Azeri gas transported via Baku-Tbilisi-Erzerum pipeline.
19 December 2006 [23:43]

Enterprises to be removed from Heydar Aliyev Avenue

All industrial enterprises in Heydar Aliyev Avenue, Baku will be removed to the suburban areas.
19 December 2006 [23:42]

Finance Ministry makes new appointments

Finance Ministry has appointed new chairs to the newly established departments.
19 December 2006 [23:36]

Tarhan Tower Airlines performs direct flights to Armenia

Turkish Tarhan Tower Airlines performs direct flights to Armenia. Direct flights to Yerevan have been realizing four times a week at night since May.
19 December 2006 [15:48]

Viktor Yanukovych: "Ukraine is interested in strengthening cooperation with Azerbaijan"

Ukraine is interested in strengthening cooperation with Azerbaijan, in trade-economic and energy spheres, in particular. Viktor Yanukovych stressed during the meeting with Ambassador Extraordinary and Plenipotentiary of the Republic of Azerbaijan to Ukraine Talyat Aliyev.
19 December 2006 [15:46]

AZAL to purchase 2 Boeing aircrafts

Azerbaijan Air Lines holds negotiations with Boeing leadership to purchase new planes next year.
19 December 2006 [15:20]

Azerbaijan says Russia's new gas price proposal disadvantageous

A new price for natural gas proposed by Russia is disadvantageous for Azerbaijan, the country's industry and energy minister said Tuesday.
19 December 2006 [15:04]

Baku hosts Turkish-Azerbaijan Business Council meeting

Today, within the visit of Turkish Industry and Trade Minister Ali Coskun to Azerbaijan, a meeting of Turkish-Azerbaijan Business Council was held by Azerbaijani Economic Development Ministry and Turkish Council for Foreign Economic Cooperation.
19 December 2006 [11:46]

AIOC increases oil exports by 82% in Jan-Nov

Azerbaijan International Operating Company (AIOC) increased oil exports by 82.43%, year-over-year, to 18 726 000 metric tons during the period of January-November.
19 December 2006 [11:25]

Azerbaijan Investment Co to acquire 20% stake of Milk-Pro LLC

Azerbaijan Investment Company has concluded memo of understanding with Milk-Pro LLC which produces dairy products and juice.
19 December 2006 [11:23]

Iran gas to Armenia

Iran will start shipping gas through a pipeline to Armenia in January, the Tehran Times reported Sunday, citing an Iranian official.
19 December 2006 [11:22]

UK NAO to audit Azerbaijan Accounting Chamber

The UK National Audit Office will audit Azerbaijan Accounting Chamber (AAC) next year.
19 December 2006 [11:05]

Azeri Accounting Chamber to cooperate with Korean, Latvian and Chinese audit organs

Azerbaijan Accounting Chamber intends to conclude an agreement of cooperation with South Korean, Latvian and Chinese Supreme Audit Offices.
19 December 2006 [11:04]

Inauguration of two road bridges in Baku rescheduled for weekend

2 out of 9 road bridge projects is expected to be commissioned in Baku on weekend.
19 December 2006 [11:03]

Turkish Industry and Trade Minister meets Azeri officials

A delegation led by Turkish Industry and Trade Minister Ali Coskun visiting Baku has been received by Azerbaijani Industry and Energy Minister Natig Aliyev.
19 December 2006 [11:02]

Stocks of some 180 shareholders sold in Azerbaijan in Jan-Nov

State Committee for Management of Public Property held 50 auctions and the stocks of some 180 shareholders were sold during the period of January-November.
19 December 2006 [11:02]

Standard Insurance collects 26% more insurance fees

Standard Insurance collected insurance fees of AZN 6.514m during the period of January-September.
19 December 2006 [11:01]

Moscow to host Russian-Azerbaijani-Turkish business forum

Moscow will host a trilateral forum of Russian, Azerbaijani and Turkish businesspeople in March-April, 2007, Azerbaijan and Russia Business Cooperation Chamber chairman Intigam Huseynov said.
19 December 2006 [10:55]

491m cu m of gas delivered to Azerigaz in November

During November 491.18m cubic meters of natural gas were delivered to Azerigaz against the planned 623m cu m by implementing the forecast by 78.8 percent.