Business

04 December 2006 [20:49]

Trades at BICEX, Dec. 4

The weighted average exchange prices made up 0,8723 AZN for 1 US dollar in the Baku Interbank Currency Exchange on December 4.
04 December 2006 [20:31]

Azerbaijan is self-sustaining in gas, Russian PM says

Azerbaijan can provide itself with natural gas, Russian Prime Minister Mikhail Fradkov told journalists after a meeting with his Azeri counterpart.
04 December 2006 [20:30]

Gazprom to complete talks with Azerbaijan by year-end

Negotiations on Russian natural gas supplies to Azerbaijan are underway and will be completed before the end of December, Valery Golubev, the Acting Deputy Chairman of Gazprom's Management Committee, told journalists in Baku on Monday.
04 December 2006 [17:39]

Rasizade: "Azerbaijan wants Baku-Novorossiisk pipeline to keep functioning"

Azerbaijan is interested in the continued operation of the Russia-controlled Baku-Novorossiisk oil pipeline, and will not reduce its own oil transit tariffs, the country's prime minister said Monday.
04 December 2006 [16:33]

Kars-Tbilisi-Baku railway construction to be launched in Spring 2007

The Kars-Akhalkalaki-Tbilisi-Baku railway project is supposed for implementation in spring 2007, Georgian Prime Minister Zurab Noghaideli told reporters.
04 December 2006 [15:44]

Fradkov offers Azerbaijan to expand spheres of coop

Russian Premier visits Azerbaijan.
04 December 2006 [15:04]

Baku hosts Azerbaijan-Austria business forum

On Monday Azerbaijan-Austria business forum was held in Baku by Azerbaijan Economic Development Ministry.
04 December 2006 [12:20]

Azerbaijan Pumps Oil from Russia

On the eve of Russian Premier Mikhail Fradkov's visit to Baku, Azerbaijani authorities made it clear they are ready for a long-term conflict with Moscow. Azerbaijan's President Ilham Aliyev ordered to his Cabinet to estimate the possibility of declining oil transit through Russia's territory in response to the growth in prices of Gazprom's gas supplies to Azerbaijan. The attempt to include Baku into the anti-Georgian bloc might be considered as failed.
04 December 2006 [12:15]

B&BTV in talks with Russian TV companies

Talks with Russian TV companies that blame Azerbaijani B&BTV and other cable televisions for piracy has begun.
03 December 2006 [13:46]

State Ecological Examination Dept. has evaluates environmental impact of ACG

The State Ecological Examination Dept. has evaluated the environmental impact of the Azeri-Chirag-Guneshli (ACG) offshore oilfield development project.
03 December 2006 [13:44]

Over a million VISA cards issued in Azerbaijan

Azerbaijani banks have issued over 1 million VISA cards.
03 December 2006 [13:42]

SOCAR and Conoco Phillips to cooperate on Babek and Umid prospect areas

SOCAR's President received the Conoco Phillips delegation headed by its Executive Vice-President, William Berry.
03 December 2006 [13:40]

SOCAR's oil fleet receives two more modern ships

SOCAR has received the Citadel and Baki ships built to the Kaspmornefteflot/BUE Caspian's order. Kaspmornefteflot (Caspian Sea Oil Fleet) is SOCAR's oil fleet.
03 December 2006 [13:39]

Six employees of Barmek-Azerbaijan to be convicted

The Grave Crimes Court of Azerbaijan will convict six employees of Barmek Azerbaijan (the former manager of the Baku Electricity Grid).
03 December 2006 [13:37]

Two more Azeri banks to join VISA

Two more Azerbaijani banks will probably join VISA International soon.
03 December 2006 [12:40]

Azerbaijan may cut or stop oil exports via Russia

Azeri President Ilham Aliyev said on Friday his country would reduce or suspend altogether oil exports via Russia in response to Moscow's promise to cut gas supplies to Baku.
03 December 2006 [12:35]

Draft State Program of development of 2007-2015 agrosector presented to government

Agriculture Ministry presented the Draft state Program on the development of agrarian sector in 2007-2015 to the cabinet of ministers, Agriculture Minister Ismet Abbasov told the journalists.
03 December 2006 [12:14]

Tokens to be withdrawn from turnover in Baku subway

On December 1 Baku Metro began to limit selling of tokens in the stations where the number of passengers are more.
02 December 2006 [14:23]

Bank Standard bonds placed

The sixth bond issue of Bank Standard was placed at the Baku Stock Exchange.
02 December 2006 [14:16]

Zurab Nogaideli: "Talks very successful in Azerbaijan"

"2007 will be a year of example in the cooperation between Azerbaijan and Georgia," Zurab Nogaideli said.
01 December 2006 [18:20]

Babayev meets British Baroness

Heydar Babayev, Minister of Economic Development of Azerbaijan, has met with member of the House of Lords of the UK Parliament, Baroness O'Cathain.
01 December 2006 [17:06]

Ganja automobile plant to produce Belarussian tractors

Ganja automobile plant signed a protocol of cooperation with Minsk tractor plant to start production of Belarussian tractors, Director of the Ganja plant Khanlar Fatiyev said.
01 December 2006 [16:48]

Mortgage lending to increase

Mortgage lending is expected to more than double in Azerbaijan next year.
01 December 2006 [14:54]

Russian control of Iran-Armenia pipeline 'not a certainty'

The widely anticipated handover to a Russian company of a pipeline that will supply Armenia with Iranian natural gas is not a forgone conclusion, Prime Minister Andranik Markarian claimed in a Russian newspaper interview published on Friday. He also reiterated Yerevan’s hopes that Russia will defuse its festering confrontation with Georgia.
01 December 2006 [14:50]

Armenian Parliament passes 2007 budget

Armenia's parliament on Wednesday passed a 2007 budget with a deficit equivalent to US$155 million (euro118 million).
01 December 2006 [14:23]

UN experts: "The world energy security depends directly on Caspian oil and production perspectives"

"The energy security of the world depends directly on Caspian oil and production perspectives.” UN European Commission Economic (UNECE) report 'A Global Overview and Global Energy Security and the Caspian Sea Region' says.
01 December 2006 [13:44]

Azerbaijan asks Japan for new grant to buy agricultural equipment

Azerbaijan's Agriculture Ministry has asked Japan for a new grant of $8 million to buy agricultural equipment.
01 December 2006 [13:39]

Anglo Asian Mining says Gedabek resource estimate 1.08 mln oz gold equivalent

Anglo Asian Mining PLC said its Gedabek project in Azerbaijan has a resource estimate of 1.08 mln ounces of gold equivalent with a possibility of expansion in a number of directions.
01 December 2006 [12:55]

Kazakhstan interested in South Caucasus pipeline

General Director of KazTransGaz, Serik Sultangaliev, says that Kazakhstan is interested in joining the South Caucasus natural gas pipeline (also known as the Baku-Tbilisi-Erzurum or Shah Deniz pipeline).
01 December 2006 [11:00]

EU, Caspian, Black Sea states plan common energy market

A plan that paves the way for an integrated common energy market between the European Union and governments of the oil and gas rich Caspian and Black Sea regions was agreed at a ministerial conference held in the Kazakh capital, Astana.
01 December 2006 [10:52]

Taxes Ministry finds irregularities in 35 958 trade facilities

Taxes Ministry Operational Control Department have to date examined 153 097 various kinds of trade facilities and found serious irregularities in 35 958 of them.
01 December 2006 [10:51]

AtaBank's assets grow 65%

The total assets of Atabank grew by 65% in the period of January-October to AZN 51.4m.
01 December 2006 [10:50]

12 regions undertake to pay gas bills

Azerigas sent a letter to 13 regions of Azerbaijan to warn them against unsatisfactory collection of gas bills.
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.