Business

13 October 2006 [14:48]

Azerbaijani and Georgian Economic Development Ministers to discuss Kars-Akhalkalaki-Tbilisi-Baku Railway Project

Georgian Economy Minister Irakli Chogovadze has visited Baku.
13 October 2006 [14:30]

President issues decree on Budget Fund for Highways

President Aliyev issued a decree on creating Budget Fund for Highways.
13 October 2006 [14:28]

Turkey gains $100m from BTC

Turkey has to date earned US $ 100m from taxes as well as transportation through BTC which came on line June 4 APA reports quoting Anatolia Agency.
13 October 2006 [09:37]

Azerbaijan says it can't guarantee gas supplies to Georgia next year

Azerbaijan said Thursday that it could not promise to start gas supplies to its neighbor Georgia next year, in a setback to Georgian hopes of reducing the country's energy dependance on Russia.
13 October 2006 [09:19]

Tax terminals to be commissioned in 15 regions

Tax terminals will be commissioned in 15 Azerbaijani regions by this year's end.
13 October 2006 [09:17]

Collection of gas bills reached 72%

72% of the gas bills were paid by the population in September.
13 October 2006 [09:14]

Industry and Energy Ministry proposes Government to write off old debts of enterprises

Azerbaijani Industry and Energy submitted proposals to the Government on write-off of the debts of the enterprises.
13 October 2006 [09:12]

Azerbaijan Bank Training Center gives business training

Azerbaijan Bank Training Center will give business trainings within Project on Development of Business Service for SME funded by BP and International Financial Corporation.
13 October 2006 [09:10]

Court didn't meet ANS Commerce's claim

A trial on the lawsuit the ANS Group of Company's ANS Commerce brought against Taxes Ministry took place on Thursday.
13 October 2006 [08:59]

Industry and Energy Ministry delegation to visit South Korea

Delegation of Azerbaijan's Industry and Energy Ministry will pay a visit to South Korea, Minister Natig Aliyev said.
13 October 2006 [08:58]

SOCAR announces tender for export of Azeri Light crude oil from Batumi port

SOCAR Marketing and Economic Operations Department announced a tender on export of SOCAR 1 168 000 barrels of Azeri Light crude oil from Batumi Port November 4-10 and 10-15.
13 October 2006 [08:55]

20 companies intend to take part in establishing refugee settlements

The Social Development Fund for Internally Displaced Persons will announce the result of tender for establishment of five settlements in Bilasuvar.
12 October 2006 [20:28]

President Aliyev: "Without Azerbaijan Nabucco Project useless"

President Traian Basescu and his Azerbaijani counterpart, Ilham Aliyev, on Wednesday discussed the construction of new pipes for the transport of gas and petrol into the European market, according to a press release from the presidential administration.
12 October 2006 [20:21]

Trades at BICEX

The weighted average exchange prices made up 0.8734 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 12.
12 October 2006 [19:00]

Azerbaijan could permit Iran gas transit to Georgia

If Georgia and Iran reach a natural gas export agreement, Azerbaijan is ready to allow Iranian gas to be transited across its territory to Georgia, the country's industry and energy minister said Thursday.
12 October 2006 [16:40]

Azerbaijan-Romania business relations expanding

Meeting between the Azerbaijani and Romanian businesspersons was held October 11 at the Azerbaijan National Confederation of Entrepreneurs (Employers) Organizations (ASK).
12 October 2006 [15:55]

Oil falls to lowest level this year

Oil prices fell to their lowest level this year on Thursday as traders waited for OPEC to thrash out details of an output cut and the market anticipated another rise in already hefty U.S. crude inventories.
12 October 2006 [15:30]

SOCAR oil output 49.51 mln bbl in 9M06, up 0.2%, y-o-y

The State Oil Company of Azerbaijan (SOCAR) said Thursday its crude output grew 0.2%, year-on-year, in the first nine months of 2006, to 6.736 million metric tons (49.51 million bbl).
12 October 2006 [14:20]

Industry and Energy Ministry proposes to write off old debts

Azerbaijani Industry and Energy submitted proposals to the Government on write-off of the debts of the enterprises.
12 October 2006 [13:15]

Natig Aliyev: "Azerbaijan not to hurry to set gas price with Russia"

The first Shah Deniz gas will be produced in December, Azerbaijani industry and energy minister Natig Aliyev said.
12 October 2006 [12:22]

Microsoft Windows XP OS localization to be completed by year's end

Azeri version of Microsoft Windows XP operating system will be put into use by this year's end.
12 October 2006 [12:12]

Georgia to repay debts to Azerbaijan by 2025

Georgian parliament has ratified the intergovernmental agreement on repayment of the state debt to Azerbaijan.
12 October 2006 [09:57]

Check-up of over 50 building companies starts in Azerbaijan

State Agency for Construction Safety has started check-up of over 50 construction companies, Agency Chairman Jabrail Khanlarov said.
12 October 2006 [09:55]

Azerbaijan has 947 ATMs and 1 574 POS machines

The number of ATMs reached 947 in Azerbaijan in September. This figure represents a 8.5% rise from early year.
12 October 2006 [09:53]

Gas production and gas delivery implemented by 95.3% and 94.4% in September

In Azerbaijan 560.93mn cubic meters of gas were produced in September as against the prediction of 588.85mn cubic meters and the figure shows that 95.3% of anticipation was implemented.
12 October 2006 [09:53]

496.19mn c.m of gas delivered to Azerigas in September

During August 496.19mn cubic meters of natural gas were delivered to Azerigas Company against the planned 525.48mn c.m by implementing the forecast by 94.4percent.
12 October 2006 [09:52]

Payment of electric bills reaches 53% in Masalli

The collection of electric bills stood at 53% in September in Masalli.
12 October 2006 [09:49]

Statoil-Azerbaijan's new president appointed

On Thursday SOCAR president Rovnag Abdullayev has received a delegation of Statoil Azerbaijan.
12 October 2006 [09:48]

Azercell signs new roaming agreements

Azerbaijani leading mobile operator Azercell Telecom Joint Venture has signed international roaming agreements with Mexican Pegaso (TEMM) and Algerian Wataniya mobile operators.
12 October 2006 [09:46]

Georgia owes Azerbaijan 13mn kilowatt/h energy

Georgia owes Azerbaijan 13mn kilowatts/h of electric energy.
12 October 2006 [09:44]

Taxes Ministry finds irregularities in 28 424 trade facilities

Taxes Ministry Operational Control Department have to date examined 21 652 various kinds of trade facilities and found serious irregularities in 28 424 of them.
12 October 2006 [09:43]

Transport Ministry delegation to visit South Korea

Delegation, led by Azerbaijani Transport Minister Ziya Mammadov, will pay visit to South Korea in late October and early November.
12 October 2006 [09:41]

Electric bills reaches 84.3% in Ganja during January-September

During past nine month collection of the electric bills in Ganja increased by 32.2% as against the same period last year.
12 October 2006 [09:41]

SOCAR ready to cooperate with Romanian oil&gas companies

SOCAR president Rovnag Abdullayev has received a delegation headed by Romanian-Azerbaijani commerce and industry chamber president George Dragomir.
12 October 2006 [09:39]

Baku to host gathering of Azerbaijan-Italian commission

It is planed to hold the meeting of Azerbaijan-Italian intergovernmental commission in Baku October 20.
12 October 2006 [00:12]

Oil hits 2006 low as OPEC haggles over deal

Oil fell to fresh 2006 lows below $58 on Wednesday as OPEC haggled over details of an output cut and the West's energy watchdog cut its demand growth forecasts.
12 October 2006 [00:08]

USACC successfully completes U.S. trade mission to Azerbaijan

The United States-Azerbaijan Chamber of Commerce (USACC) hosted U.S. Trade Mission to the Republic of Azerbaijan for leading U.S. firms specializing in Information and Communications Technologies (ICT) on October 1-4, 2006.
11 October 2006 [22:53]

Trades at BICEX

The weighted average exchange prices made up 0,8734 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 11.
11 October 2006 [22:50]

Eurasia completes development plan field work in Azerbaijan

Eurasia Energy Limited ("Eurasia") announces that it has completed all field work necessary to conclude the development plan for Eurasia's 600 square kilometer offshore oil and gas block (the "Block") in the Republic of Azerbaijan.
11 October 2006 [22:47]

Iran participating in International Building Fair in Baku

About 100 companies from 20 countries including Azerbaijan, Russia, Iran, Turkey, Germany, France, Ukraine, Belarus, Kazakhstan, Poland, Finland and South Korea have participated in the exhibition to showcase their machinery and construction materials in the field of building construction.
11 October 2006 [22:46]

Romanian president talks up oil for Europe in Azerbaijan

Hydrocarbons produced in the Caspian Sea could be shipped to European markets through Romania, the country's president Traian Basescu said Wednesday during a two-day visit to oil-rich Azerbaijan.
11 October 2006 [15:47]

Baku hosts BakuBuild 2006 and BakuMebel 2006 and Real Estate exhibitions

12th Azerbaijan International Construction Exhibition (BakuBuild 2006) and 4th International Furniture and Woodworking, Interiors and Design Exhibition (BakuMebel 2006) and 1st Real Estate Exhibition started on Wednesday.
11 October 2006 [15:41]

CITES keeps ban on Caspian caviar and sturgeon export from Azerbaijan

CITES (Convention on International Trade in Endangered Species of Wild Flora and Fauna) kept in force the ban on fishing and export of black caviar and Caspian sturgeon from Azerbaijan in the meeting of the standing secretariat.
11 October 2006 [14:46]

Issuing permit for new construction suspended in Baku

"16-storeyed buildings were built in Baku on the basis of permits for 12-storeyed ones. These facts are under investigation," chairman of State Agency for Construction Safety Jabrail Khanlarov said.
11 October 2006 [13:22]

Azeri-Ukraine business forum to be held in December

The Azerbaijan-Ukraine business forum will be held during the Ukrainian businessmen's visit to Azerbaijan in December.
11 October 2006 [13:06]

Anglo Asian Mining announces Operational Update

Anglo Asian Mining PLC (AIM: AAZ), the gold and copper development company with projects in Azerbaijan, today issues the following operational update:
11 October 2006 [10:16]

Trial on ANS's lawsuit against Taxes Ministry

A trial on the lawsuit the ANS Group of Company's ANS Commerce brought against Taxes Ministry took place on Tuesday.
11 October 2006 [10:14]

Taxes Ministry finds irregularities in 28 195 trade facilities

Taxes Ministry Operational Control Department have to date examined 120 684 various kinds of trade facilities and found serious irregularities in 28 195 of them.
11 October 2006 [10:07]

Det.Al Ltd to build aluminium plant in Ganja

Det.Al Limited Co. will construct a new aluminium plant in Ganja. The annual production capacity of the high-tech plant will be 100 000 tonnes.
11 October 2006 [10:04]

UniBank increases 'Accumulation' deposit rate of interest

UniBank CB has increased the rate of interest carried by the USD 'Accumulation' deposits to 12%+1%, while the 'Accumulation' deposits made in AZN shall carry the unchanged rate of interest of 10.6%+1%.
11 October 2006 [10:03]

Collection of electric bills improved in Lenkeran

Lenkeran Electricity Supply Department collected AZN 117000 from the customers in September. This indicator was AZN 105000 in August.
11 October 2006 [10:00]

5 500 tonnes of fuel saved in thermal power plants in Sept

Fuel consumption for electricity generation was 371.51 gram/kilowatt/h against 375.33 in the thermal power plants in Azerbaijan during September.
11 October 2006 [09:56]

NBA's official currency reserve hits USD 1,524bn

Official currency reserve of the National Bank of Azerbaijan reached $1,5 bn.
11 October 2006 [09:54]

Bank Standard's summary for September

A press conference on the summary of September was held in Standard Bank CJSB.
11 October 2006 [09:27]

Azerbaijan spends $300mn on BTC

High oil prices have direct influence on the rise of the revenues of the State Oil Fund.
11 October 2006 [09:23]

Shahmar Movsumov: "State Budget of Azerbaijan to be $7bn next year"

Caspian Integration Business Club members met with Shahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ).
11 October 2006 [09:19]

Bank of Baku starts bonus campaign for money transfer

Bank of Baku has today started campaign which gives special bonuses to the customers.
11 October 2006 [09:16]

Baku hosts BINSA annual meeting

Annual meeting of the Black Sea International Ship-owners Association (BINSA) was held in Baku.
11 October 2006 [09:11]

SSC registers issue prospectus of book-entry bonds of Azerigazbank

The State Committee for Securities registered the issue prospectus of ordinary book-entry bonds of Azerigazbank OJSC.
11 October 2006 [08:53]

Egg price to fall

The price of eggs is expected to fall as from the second half of October, National Poultry Society chief Aydin Valiyev told.
10 October 2006 [20:02]

Trades at BICEX

The weighted average exchange prices made up 0,8734 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 10.
10 October 2006 [19:43]

Baku Build 2006 and Baku Mebel 2006 exhibitions start

12th Azerbaijan International Construction Exhibition (BakuBuild 2006) and 4th International Furniture and Woodworking, Interiors and Design Exhibition (BakuMebel 2006) will start tomorrow.
10 October 2006 [09:40]

First car produced at Ganja Automobile Plant

The first Chinese automobile has been made at Ganja Automobile Plant on Monday.
10 October 2006 [09:39]

SOCAR has 6 182 production wells

As of October 1, the State Oil Company of Azerbaijan (SOCAR) (excluding Operating Companies and Joint Ventures) has 6 182 production wells.
10 October 2006 [09:38]

Nakhchivan Module Power Station to be completed

Construction of Nakhchivan Module Power Plant continued to progress on the schedule.
10 October 2006 [09:37]

State Agency for Management of Public Property announces recruitment

State Agency for Management of Public Property has begun receiving applications for job vacancies.
10 October 2006 [09:36]

BINSA to hold annual meeting

Black Sea International Ship-owners Association (BINSA) will hold an annual meeting in Baku on October 10.
10 October 2006 [09:35]

Auction on placement of T-bills to be held at BSE

An auction on placement of T-bills with the state registration number 10203013S will be held at Baku Stock Exchange on October 10.
10 October 2006 [09:33]

SOCAR announces tender on Azeri LT

10 October 2006 [09:29]

French court to review Azerbaijan's complaint

French Court will review Azerbaijan's complaint on removal of the seizure of the Azerbaijan's shares on October 13.
10 October 2006 [09:27]

Azercell announces tender on medical insurance

Azercell Telecom announced a tender on the medical insurance for its employees and families of them.
10 October 2006 [09:24]

Samir Sharifov: "Oil price can rise"

Oil price is expected to increase at the world markets, Azerbaijani Finance Minister Samir Sharifov said.
09 October 2006 [22:54]

President Aliyev meets founder and CEO of Noble Group

President Ilham Aliyev of Azerbaijan on October 9 received at President Palace founder and CEO of Noble Group Richard Elman.