Business
16 July 2005 [09:28]
The Azerbaijani Communications and Information Technologies Ministry presented to the Rotterdam court additional documents on case of Maltese FIM Bank, which brought a suit against the Azerbaijani government on the non-payment of the credit given by the bank to the enterprises of the Communication Ministry under guarantee of the Ministry and ‘Pochtbank’ commercial bank.
16 July 2005 [09:22]
Georgia is probable to receive additional gas volumes under Stage 1 of Shah-Daniz Project. Mike Skitmor, the head of the project, told a news conference on Friday, the Georgian government appealed to Azerbaijan with request to deliver additional volumes of gas in the amount of 3 billion cu m of gas a year under Stage 1.
16 July 2005 [08:59]
The Excelcior hotel will open in a solemn ceremony to be staged in Baku on July 22, Trend reports quoting the owner of the hotel, the deputy chairman of the Management Board of Ataholding group of companies, Khakan Ozalpay.
15 July 2005 [09:17]
Industrial production in Azerbaijan comprised 18.8 trln manats in the first half of 2005, or 20.1% more than 2004, the State Statistics Committee told Trend. It comes as the first highest indicator since 1942.
15 July 2005 [08:47]
The joint Azerbaijani-American Catel (Caspian American Telecommunications, LLC) conducts installation works at a new station, located in the settlement Hovsan of Baku, Trend reports.
14 July 2005 [09:32]
AZAL state air company pans to open new air flights with the South Asia countries, the company told Trend.
14 July 2005 [09:30]
The program of the Azerbaijan’s business people visit to the Turkish Republic of Cyprus on 28-31 July is very intensive, the press service of the visit organizer, Union of business people of Azerbaijan and Turkey (ATIB).
14 July 2005 [09:26]
During the next years the world oil prices will not go below $30-40 per barrel, head of the BP group macroeconomics department, Marc Hanstridge told journalists today in Baku.
14 July 2005 [09:04]
The European Union (EU) plans to implement 12 projects more in Azerbaijan, the EU’s Baku Office.
14 July 2005 [08:41]
The State Social Protection Fund (SCPF) will start distributing social insurance certificates to all citizens working in Azerbaijan since the middle of August.
14 July 2005 [08:32]
Industrial product and services costing 18.8 trillion manats or more than 20.1 % in comparison with the first half of the previous year was produced and rendered in the first half of this year in the industry of the country.
13 July 2005 [09:44]
The inflation rate was 4,8% in the first half-year of the current year.
13 July 2005 [09:37]
The Ministry of Economic Development (MED) held sitting of the MED collegium on 12 July, dedicated to the results of the economy development for the first 6 months.
13 July 2005 [09:15]
The issue of sentence on court examination between the State Oil Company of Azerbaijan (SOCAR) and American Frontera Resources, formerly involved into the development of the onshore field ‘Kursangi-Garabagli’, is postponed to late 2005.
13 July 2005 [09:12]
The delegation led by first deputy Prime Minister of Azerbaijan Abbas Abbasov was in an official visit in Tbilisi. The delegation met Georgian Prime minister Zurab Nogaideli.
13 July 2005 [08:57]
Azerbaijani President adopted the design of 4 banknotes of the would-be denominated manat. Elman Rustamov, the chairman of the Managing Board of the National Bank of Azerbaijan, said that at the moment the design of 4 coins was also ready.
12 July 2005 [08:38]
By 2010 Eni, Inpex, TotalFinaElf and Conoco-Phillips companies will deliver from Kashagan field in Kazakhstan 500,000 barrels of oil a day (25 million tons a year) to Baku by tankers, Trend reports.
12 July 2005 [08:14]
The Azerbaijani-U.S. joint venture Catel (Caspian American ?elecommunications, LLC) has commissioned a new telephone station in Nabran, east Azerbaijan.
12 July 2005 [08:08]
The National Bank of Azerbaijan received an appeal from the “Turan alem” Bank (BTA) of Kazakhstan.
12 July 2005 [08:02]
The opening ceremony of a Baku branch of the Pakistani National Bank (NPB) was held on Monday.
11 July 2005 [08:33]
Every Azerbaijan exports the sugar beet crops to Turkey and Iran for further refinery due to lack of the national refining plants.
11 July 2005 [08:29]
The working groups will be established to expand the relations in the energy sphere, Marlen Asgarov, the chief engineer of the joint stock company, told Trend.
11 July 2005 [08:27]
An action plan on EU-Azerbaijan cooperation will be ready by the end of the year. Baku Office of the EU told Trend.
09 July 2005 [08:18]
"The number of the mobile phone holders in Azerbaijan comprises 1.7 million, or 23 phones per 100 people," Ali Abbasov, the Communication and Information Technologies Minister, told Trend.
09 July 2005 [08:10]
Juridical and physical persons in the country established mutual trade relations with 122 countries during January-May this year.
08 July 2005 [09:02]
Frank Khannigan, the adviser of the European Bank of Reconstruction and Development (EBRD), the director of Irish Pathfinder International Partners Ltd., will arrive in Baku on Friday.
08 July 2005 [08:59]
Hearings on the dispute between the former Glavbakstroy head, the renowned builder of Azerbaijan, Emil Akhundov and the Baku Steel Company were supposed to take place on 7 July in the Sabayil dustrict court, however, the hearings have been delayed for an uncertain period by the decision of the judge on 7 July, the lawyer of the Baku Steel Company, Nazim Aliyev told Trend.
08 July 2005 [08:57]
In January to June 2005 the Azerbaijan International Operating Company (AIOC), which is involved in the development of Azeri-Chirag-Gunashli offshore fields (ACG), has produced 5,048 million tons of oil of Azeri Light brand, or 1,84 million more than 2004.
08 July 2005 [08:51]
The 'Gaseksport' Ltd. (the branch enterprise of the 'Gasprom' Ltd.) resumed gas delivery to Azerbaijan after accident in the pipeline 'Shirvanovka-GaziMammad' passing through the territory of Dagestan on Thursday.
07 July 2005 [08:13]
On Wednesday at 02.00 a.m. Gazexport Llc., a daughter company of Gazprom Joint-Stock Company (JSC), suspended gas delivery to Azerbaijan due to breakdown on the section of the Mozdok-Gazimahommad gas pipeline running via the territory of Dagestan, Russia.
07 July 2005 [08:01]
The state-run petroleum machinery company Azneftkimyamas has launched a project on the receipt of international standards for some products manufactured at four divisions of the company.
06 July 2005 [09:40]
The production of a total of 81.55 million tons of crude oil has been expected in Azerbaijan within three years, 2005 through 2007, according to the Government’s socioeconomic development concept and forecasts of major macroeconomic activities for 2004-2007.
06 July 2005 [09:35]
Azerbaijan’s Chamber of Commerce and Industry will sign a memorandum of cooperation with the Union of Italian Chambers of Commerce & Industry and Agriculture (UICCIA).
06 July 2005 [09:31]
Kazakhstan has no information on the Iran’s position’s changes on the Caspian Sea status after the presidential elections in the country, the advisor of the Kazakhstan Ambassador to Azerbaijan, Bagdat Seybattalov told Trend.
06 July 2005 [09:04]
A delegation consisting of the officials and businessmen of Kazakhstan being on a visit in Azerbaijan on June 30-July 2 held several meetings.
06 July 2005 [09:01]
The Gobustan Operating Company (GOC) has faced a series of complications during the drilling of an assessment well at the onshore Kanizdagh field. So far the drilling has reached a depth of 3,006 meters against the target of 3,800 meters.
05 July 2005 [09:58]
The National Bank of Azerbaijan (NBA) took a decision on double increase of requirements to the minimal statutory capital of new banks.
05 July 2005 [09:56]
The rise in prices of construction materials, equipments and transportation expenses cased the rise in price of “Shahdeniz” project.
05 July 2005 [09:50]
The currency reserves of Azerbaijan increased 12,73 % during the six month of this year and formed 988.46 million USA dollars.
05 July 2005 [09:47]
The Azerbaijani government expects in 2005 the sustainable growth of the GDP indicator. By the results of the current year the indicator per capita may be $1 275, Trend was told at the Cabinet of Ministers.
05 July 2005 [09:21]
A new service - the Domestic Control Sector – has been established at the Azerbaijani Ministry of Economic Development at the relevant decree by Farhad Aliyev, the Minister for Economic Development.
05 July 2005 [08:42]
?zerbaijan completes preparation of agreement on joint oil transportation through the Baku-Tbilisi-Ceyhan (BTC) pipeline with Kazakhstan, the first vice-premier of the Azerbaijani government, Abbas Abbasov stated on the results of talks with the leaders of Ukraine in Kiyev, Trend reports.
02 July 2005 [10:01]
The committee of directors of the European Bank for Reconstruction and Development (EBRD) has approved 110 million U.S. dollars in loans to co-finance part of LUKoil’s participating interest in the Shah Daniz gas project.
02 July 2005 [09:59]
The third sitting of the Working Group on Azerbaijan’s being member of the Worldwide Trade Organization was held the day before yesterday.
02 July 2005 [09:04]
On Friday the National Bank of Azerbaijan held a seminar on mortgage.
01 July 2005 [10:06]
The mission led by specialists of fund on operating monetary and financial systems of International Monetary Fund (IMF) Joddi Skarlaton is on a visit to Baku.
01 July 2005 [09:54]
The Ministry of Economic Development (MED) plans in 2005 the GDP at the level not lower 18%, deputy Minister MED, Mikail Djabbarov stated on 29 June, Trend reports.
01 July 2005 [09:25]
In 2005 premium of Azerbaijani insurance companies might reach $100m against $67m fixed in $67m in 2004, Khayal Mammadkhanly, the head of the financial sector of the Association of Turkish Industrials and Businessmen (ATIB), President of the Union of Azerbaijani Insurers, said in a presentation of the insurance market of the country held at the ATIB.
01 July 2005 [08:54]
The Union of Turkish businessmen and manufacturers (TUSIAB) complained about the existence of a series of impediments that hamper the progress of their business in Azerbaijan.
30 June 2005 [09:20]
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) approved $100m under the project on financing the upgrade and reconstruction of road section from Sumgayit to Zarat settlement of the highway from Baku to Azerbaijani border with Russia, the EBRD will allocate credit for 15 years with 3-year grace period under LIBOR+1% rate.
30 June 2005 [09:18]
The 30th annual sitting of Islamic Development Bank took place in Putrajaya city of Malaysia. Azerbaijani delegation was led by head of Ministry of Economic Development Body Samir Valiyev.
30 June 2005 [08:36]
Azerbaijan has a total of 3.7 billion tons of commercially viable crude oil reserves, with up 1.7 billion tons classified as recoverable stock, says a press statement by the Earth Sciences Sector of the National Academy of Sciences of the Azerbaijan Republic (NASAR).
29 June 2005 [09:21]
20% growth in Gross Domestic Product is predicted to be this year, 38% in 2006.The growth is expected to be 6 times higher in 2024 than it is today.
29 June 2005 [09:16]
A conference of the foreign affairs ministers of the countries being the members of the Islamic Conference Organization started its work in the capital of Yemen, Sanaa.
29 June 2005 [08:58]
A delegation consisting of 22 persons from the companies working in medical field, medicine production and sale sector of the Islamic Republic of Pakistan will arrive on a business visit in Azerbaijan on June 11.
29 June 2005 [08:01]
The Azerbaijani Ministry for Industry and Energy does not rule out bp, a British oil giant, to take interests in the development of a new field Iki Gardash Dashi.
29 June 2005 [07:54]
The signing of several intergovernmental agreements is on the agenda for the upcoming two-day visit to Azerbaijan by Turkish Prime Minister Recep Tayyip Erdogan.
28 June 2005 [09:40]
No hydrocarbon reserves were found out in “Yalama” deposit located in Azerbaijan sector of the Caspian Sea during the first drilling process by “Lukoil” company.
28 June 2005 [09:21]
The European Bank for Reconstruction and Development (EBRD) is about to complete a process of adoption of a project on financing the upgrade and reconstruction of 60 km section of the road from Sumgayit to Zarat settlement in the border from Azerbaijan to Russia, a government source told Trend.
28 June 2005 [08:58]
“A Georgian delegation headed by Prime Minister Zurab Nogaideli will pay a working visit to Azerbaijan 16 July,” Zurab Gumberidze, the Georgian Ambassador to Azerbaijan, told Trend in an excusive interview.
28 June 2005 [08:51]
“KfW” Development Bank of Germany allocated means for developing the project of development of retail service in banking systems of Georgia and Azerbaijan by the end of next year.
25 June 2005 [08:49]
The Georgian state company Saknavtobtransi (former Gruzneftetrans) has send the State oil company of Azerbaijan (SOCAR) a notification of the Georgian government’s decision to introduce European standards for automotive fuel sales beginning from January 1, 2006.
25 June 2005 [08:41]
Gobustan Operating Company (GOC) will construct a gas compression station (GCS) in the Southwest Gobustan onshore bloc at the expense of credit funds at the expense of a loan provided by Arawak Energy Corporation for Commonwealth Gobustan Limited (CGL).
24 June 2005 [08:51]
Cairo will host a meeting of the Egyptian-Azerbaijani commission on economic cooperation on 25-29 July, Trend reports quoting Yusif Ahmet al-Sharkavi, the Egyptian.
24 June 2005 [08:43]
The French Total company studies the possible construction site for the oil terminal on the Azerbaijani coast of the Caspian Sea, deputy Transport Minister of Azerbaijan, Musa Panakhov told Trend.
23 June 2005 [09:35]
The Russian LUKOIL preserved the first exploration well on the perspective structure “Yalama” (block D-222) in the Azerbaijani sector of the Caspian Sea, the State Oil company, which is the project participant with 20% share told Trend.
23 June 2005 [09:13]
According to a report by British-American company BP, in 2004 the estimated oil reserves in Azerbaijan comprised 1 billion tons, or 7 billion barrels, or 0.6% of the world estimated oil reserves.
23 June 2005 [09:11]
The former Communication Ministry left about $50 million debt for the new Ministry of Communication and Information Technologies(MCIT).
23 June 2005 [08:42]
Azerbaijan is about to enter a very important stage of multilateral talks with the World Trade Organization (WTO), to discuss the future state of the agricultural sector and hold separate consultations over proposals by the Azerbaijani side on relevant tariffs.
23 June 2005 [08:28]
Yesterday in “Hyatt Regency” hotel business forum launched organized by Economic Development Ministry, Foreign Development Agencies of Companies of France (UBIFRANCE) and economic department of this country‘s embassy to Baku.
22 June 2005 [08:58]
The Pakistani National Bank opens its representative office in Baku.
22 June 2005 [08:53]
The main drilling modules for the East Azeri (EA) production, drilling and quarters (PDQ) platform have already arrived in Baku from the Netherlands where they were built by Mercon Steel Structures, AIOC’s drilling modules construction contractor, the Azerbaijan International Operating Company (AIOC) announced.
22 June 2005 [08:51]
Azerbaijan-France Business Forum wil be opened in “Hyatt Regency” hotel tomorrow.
22 June 2005 [08:44]
Export of goods and services from Ukraine to the CIS countries formed $ 3 milliard 78 million 290,17 thousand, import $ 5 milliard 193 million 330,07 thousand in past months of 2005.
22 June 2005 [08:42]
The Czech Export Bank has approved $180m credit for Azerbaijan under the reconstruction of the automobile routes.
Azerbaijan eyes investment in Pakistan's oil, gas, and space sectors
Azerbaijan's green energy vision: Trans-Caspian Project set to strengthen European energy security
Washington, Tehran on same wavelength regarding Zangazur Corridor issue
Washington, Tehran on same wavelength regarding Zangazur Corridor
Steady growth in Azerbaijan's agricultural sector: Implications for future development
Azerbaijan, Iraq mull opportunities for mutual investments & cooperation
ADB approves $131.5 million loan for key railway line in Azerbaijan