Business

20 July 2009 [13:38]

Azerbaijan may offer sattelite services soon: communication minister

Azerbaijan may offer sattelite services soon, Azerbaijani Communication and Information Technology Minister Ali Abbasov said.
20 July 2009 [12:32]

Iran says its participation in Nabucco gas pipeline project is quite possible

Head of Iran’s national gas company Azizullah Ramezani says Iran’s involvement with filling up Nabucco is “quite possible”, Fars news agency reported.
20 July 2009 [11:37]

69 percent housing privatized in Azerbaijan

Housing of 23.1 million square meters has been privatized in Azerbaijan which makes up 68.9 percent of total housing, the State Statistics Committee said.
20 July 2009 [10:56]

SOCAR, Botas to continue talks on Azerbaijani gas prices in August

The next stage of negotiations between Azerbaijani SOCAR and Turkish Botas on volume and price of Azerbaijani gas exported to Turkey as a part of the Shah Deniz-I will be held in early August, the SOCAR Web site said.
20 July 2009 [09:28]

Railway accounts for 45 percent of transport in Azerbaijan

In January-May 2009, nearly 17.4 million tons of cargo and 82.4 million passengers were conveyed via Europe-Caucasus-Asia transport corridor (TRACECA), the State Statistics Committee said.
18 July 2009 [08:57]

Oil prices hit $63 per barrel

Oil prices demonstrated a rise following a report on unexpected rise in number of newly-built buildings in the U.S., Bloomberg reported.
17 July 2009 [12:22]

Azerbaijan’s foreign trade turnover hits $6. 853 billion

Azerbaijan reached $6.853 billion foreign trade turnover with 120 countries in January-May, 2009, the State Statistics Committee said.
17 July 2009 [10:27]

Azerbaijan’s communication services grew 12 percent in Q1 2009

In January-July 2009, Azerbaijan’s communication sector rendered services worth 468.3 million manat, a rise of 12.3 percent from the same period of 2008, the State Statistics Committee said.
16 July 2009 [17:16]

ICT revenues grow 30-35 percent per year: Azerbaijani communication minister

Revenues from information and communication technologies grow 30-35 percent in Azerbaijan per year in recent years, Azerbaijani Communication and Information Technology Minister Ali Abbasov said.
16 July 2009 [14:01]

Average salary ups almost 20 percent in Azerbaijan

The average salary totaled 298 manats in Azerbaijan in the first quarter of 2009. a rise of 19 percent from the same period of 2008, the State Statistics Committee said.
16 July 2009 [13:31]

75 mobile phones account for every 100 people in Azerbaijan

“The market of mobile phones is striving in Azerbaijan and it is one of the most attractive areas for investments,” Azerbaijani Communication and Information Technology Minister Ali Abbasov said.
16 July 2009 [13:16]

Lvov-Baku-Lvov flight to be launched soon

Ukrainian Lvov Airlines will open Lvov-Baku-Lvov flight from August 3, Lvov Airlines Deputy Director General Sergei Pidgorodetskiy said at a news conference.
16 July 2009 [12:51]

Ukraine welcomes gas deal between SOCAR, Gazprom

Ukraine welcomes the gas deal on export of Azerbaijani gas from January 2010 signed between Azerbaijan State Oil Company and Gazprom, Ukrainian ambassador to Azerbaijan Boris Klimchuk said.
16 July 2009 [12:09]

Azerbaijan, Turkey to hold next talks on gas prices

The next round of talks on gas price will be held on July 17, CNN Turk reported.
16 July 2009 [11:52]

Azerbaijan’s Social Protection Fund releases poll into pension system reforms

Azerbaijani citizens say payment of pensions via plastic cards is the major achievement of the pension system reforms, Social Protection Fund said in a statement.
16 July 2009 [11:14]

Baku hosts Azerbaijan-Turkmenistan talks over Caspian issues

Azerbaijan-Turkmenistan talks over the Caspian issues are underway in Baku.
15 July 2009 [17:27]

Azerbaijan provides financial assistance to Tajikistan to eliminate consequences of natural disasters

The Azerbaijani government provided 1$00,000 in financial assistance to Tajikistan to support the victims of natural disasters this spring, the Cabinet of Ministers of Azerbaijan said.
15 July 2009 [13:46]

Azerbaijan-Korea Commission on Economic Cooperation holds third meeting

Azerbaijan-Korea Commission (Working Group) on Economic Cooperation held its third meeting in Seoul.
15 July 2009 [12:28]

Trilateral agreement reached on Azerbaijani gas transport to Bulgaria within ITGI

A trilateral agreement on supply of Azerbaijani gas to Bulgaria as a part of the ITGI project was signed in Sofia on July 14, Italian ambassador to Azerbaijan Gian Luigi Masha told reporters.
15 July 2009 [11:52]

Azerbaijan-Russia gas agreement played decisive role: Atlantic Council expert

"Baku was instrumental, in my mind at least, in getting an agreement finalized at very last moment for this agreement with Turkey by reaching a deal with Russia," Alexandros Petersen, associate director of the Eurasia Energy Center at the Atlantic Council in Washington, said.
15 July 2009 [11:38]

Total denies media reports on closure of Baku office

The French Total denied media reports on closure of the company's Baku office in July.
15 July 2009 [11:04]

Azerbaijan to draft code to regulate construction sector

Azerbaijan will develop a code to regulate construction activities and align them with certain norms and laws, parliament’s Economic Policy Committee Chaiman Ziyad Samadzade said.
15 July 2009 [10:44]

U.S. looks forward to agreement between Azerbaijan & Turkey on Nabucco: U.S. Senator

Azerbaijan's and Turkey's signing an agreement on a gas export price can become the next step in implementing the Nabucco gas pipeline project, the Deputy Chairman of the U.S. Senate Committee on Foreign Affairs, Senator-Republican Richard Lugar said.
15 July 2009 [10:23]

Armenia ranks last in rating of resistibility against world crisis in CIS

In rating of resistibility against world crisis in economic, political and socio-cultural spheres, Armenia ranks in the last place among CIS member states, the first report by the union of Eurasian expert network said.
15 July 2009 [09:33]

Ukraine welcomes Nabucco launch, ready to join

Ukraine welcomed the launch of the Nabucco gas pipeline project intended to pump gas to Europe bypassing Russia and said it was ready to join, a deputy head of the Ukrainian president's secretariat said on Tuesday.
14 July 2009 [15:32]

Chances for realization of South Stream preferable than that of Nabucco: U.S. expert

Gas reserves in the Caspian region make it possible to realize only one major project - Nabucco, or Southern Stream. The chances of latter are more preferable, The Heritage Foundation Russia-Eurasia program director Ariel Cohen said.
14 July 2009 [13:33]

Iraq promised to fill up Nabucco by half from 2005: Financial Times

Iraqi Prime Minister Nouri al-Maliki promised that his country will fill up Nabucco by half from 2015 by supplying 15 billion cubic meters of gas per year, The Financial Times said.
13 July 2009 [14:32]

Azerbaijan issues total of 50 mortgage loans in first decade of July

Total of 50 Azerbaijani citizens were issued mortgage loans worth 2.56 million manat in the first decade of July.
13 July 2009 [13:55]

Azerbaijan fully supports Nabucco gas pipeline project: minister

"Azerbaijan fully supports the Nabucco gas pipeline project and everything related to it."
13 July 2009 [13:49]

Nabucco deal signed in Ankara (UPDATE)

The Nabucco participant countries signed inter-governmental agreement in Ankara on July 13.
13 July 2009 [13:39]

Turkish prime minister invites Russia, Iran to join Nabucco

"Iranian gas can be transported to Europe via Nabucco pipeline, if there would be acceptable conditions for this."
13 July 2009 [12:10]

Direct Yekaterinburg-Ganja flight to be launched

Ural Airlines will open flight from Yekaterinburg to Ganja (Azerbaijan) starting from August 8.
13 July 2009 [11:58]

Azerbaijani MP: I am doubtful about soonest realization of Nabucco project

“The direction of the Nabucco gas pipeline is the major problem for the pipeline."
13 July 2009 [11:26]

Turkey still likely to get a share of Nabucco gas: energy minister

Turkish Energy and Natural Resources Minister Taner Yildiz denied Sunday reports that Turkey gave up its right to receive 15 percent of the natural gas supplied via the Nabucco pipeline, saying the country is likely to get a larger share instead, Xinhua reported.
13 July 2009 [11:08]

Russia's aggravating relations with Ukraine, Turkmenistan to give push to construction of Nabucco: ESAI

Russia's aggravating relations with Ukraine and Turkmenistan will give push to construction of Nabucco gas pipeline, Energy Security Analysis analyst Andrew Reed said.
13 July 2009 [09:39]

Russia free to supply gas to Nabucco : U.S. envoy

Russia is free to supply gas to the Nabucco pipeline.
13 July 2009 [09:26]

Iraq lacks surplus gas for Nabucco gas pipeline project

Iraq does not possess surplus gas to pump via the Nabucco gas pipeline, Spokesperson for the Iraqi government Ali al-Dabbagh said.
11 July 2009 [10:45]

SOCAR ups oil exports via Baku-Novorossiysk in Q1

SOCAR Marketing and Economic Operations Department exported nearly 1.229 million tons of oil via Baku-Novorossiysk in January-June 2009.
11 July 2009 [09:33]

European Commission hails agreement on Nabucco gas pipeline project

European Commission President Jose Manuel Barroso on Friday hailed an agreement to be signed by Turkey and four European Union member states on a gas pipeline project as crucial for EU's energy security, Xinhua reported.
11 July 2009 [09:22]

Georgian president to attend Nabucco accord signing ceremony

Georgian President Mikhail Saakashvili will attend Nabucco accord signing ceremony on July 13 as a part of his two-day visit to Ankara, Business Georgia reported.
11 July 2009 [09:07]

Nabucco project can count on Turkmen gas

President Gurbangulu Berdimuhammedov for the first time announced possibility of gas supply for the Nabucco pipeline project by Turkmenistan.
10 July 2009 [17:14]

Turkey, Azerbaijan discuss prices for natural gas, field development

Turkey and Azerbaijan discussed prices for natural gas and development of fields.
10 July 2009 [14:58]

Average price on one square meters of area in Baku newly-built buildings released

Estate Market Participants public union has released results of the monitoring into the first housing market conducted in June 2009.
10 July 2009 [14:39]

Azerbaijani parliament may adopt Customs Code in autumn

Azerbaijani parliament may adopt Customs Code in the autumn session, State Customs Committee First Deputy Chairman Asgar Abdullayev said.
10 July 2009 [13:30]

Deputy FM: Azerbaijan should enter WTO as developing country

Azerbaijan plans to enter the World Trade Organization with status of developing country, Azerbaijani Deputy Foreign Minister Mahmud Mammadguliyev said in Geneva at a final meeting of the working group on Azerbaijan’s WTO admission.
10 July 2009 [10:59]

Azerbaijan ready for long-term partnership with Turkmenistan: SOCAR

Azerbaijan is prepared to establish long-term business contacts with Turkmen partners, SOCAR President Rovnag Abdullayev said at a meeting with Turkmen President Gurbangulu Berdimuhammedov.
10 July 2009 [10:48]

Azerbaijan to be major supplier for Nabucco gas pipeline

Azerbaijan, Iraq and Egypt will become the main suppliers to the EU-backed Nabucco gas pipeline, delivering 15 billion cubic meters of gas per year from 2015, Wolfgang Ruttenstorfer, Chief Executive of the Austria’s OMV, member of Nabucco Gas Pipeline International GmbH consortiumm, said.
10 July 2009 [10:34]

Syria to buy 1 billion cubic meters of Azerbaijani gas per year

Syrian President Bashar al-Assad said at the Azerbaijan-Syria business forum in Baku that Syria will buy Azerbaijani gas.
10 July 2009 [09:43]

Rise in world oil prices

World oil prices increased slightly on July 9 on the backdrop of weak demand in large economies.
10 July 2009 [08:44]

Azerbaijan’s industry and energy minister meets UAE foreign minister

Azerbaijani Industry and Energy Minister Natig Aliyev has met with the UAE Foreign Minister Abdullah bin Zayed al Nahyan.
09 July 2009 [16:42]

No need to up bread prices in Azerbaijan: consumer market control agency

“State Agency for Control over Consumer Market at the Azerbaijani Economic Development Ministry monitors prices on consumer market twice a week.,” head of the agency Zahid Isayev said.
09 July 2009 [14:06]

Azerbaijani Association of Travel Agencies designs proposals to cancel VAT for travel companies

Azerbaijani Association of Tourism Agencies is preparing package of proposals to cancel VAT for tourism companies.
09 July 2009 [11:23]

Azerbaijan refines over 2.9 million tons of oil in Q1

Azerbaijan’s oil refineries produced 2.983 million tons of oil in January-June 2009, according to the SOCAR.
09 July 2009 [08:35]

French Total stops work in Azerbaijan

Total, French oil company, has stopped activity in Azerbaijan.
08 July 2009 [16:30]

Gas transit to Armenia via Georgia suspended

Gas supply to Armenia was suspended on July 8.
08 July 2009 [15:07]

SOCAR Trading aims to increase SOCAR competitiveness on world markets: SOCAR official

Trend Capital interview with SOCAR Marketing and Economic Operations Department (MEOD) Director General Tofig Gahramanov.
08 July 2009 [13:45]

Azerbaijan toughens control over imports of Chinese subquality children’s toys

Azerbaijani State Committee for Standardization, Metrology and Patents has appealed all governmental agencies to toughen control over imports of Chinese subquality children’s toys which are harmful for health.
08 July 2009 [12:06]

Nearly 60 hotels shut down in Azerbaijan

Nearly 60 hotels operating without license have been shut down in Azerbaijan.
08 July 2009 [11:43]

Azerbaijan is bearing of peace and stability in Caucasus: Russian president's ex-special envoy to Caspian region

Presently, the Caspian Sea represents great interest from the point of view of energy issues for many nations, including Russia.
08 July 2009 [10:39]

Oil prices fall for sixth consecutive days

Oil prices keep on falling for the sixth consecutive days on backdrop of rise in gasoline reserves in the U.S. and fall in stock markets, Bloomberg reported.
08 July 2009 [09:22]

Average interest rate on physical persons’ deposits hits 12 percent in Azerbaijan

As of June 1, 2009, average interest rate on physical persons’ deposits in national currency reached 12 percent, Azerbaijani Central Bank said.
07 July 2009 [17:58]

Azerbaijan and European Union reach aviation deal

Azerbaijan and European Union (EU) signed an agreement on cooperation in the field of aviation, which enables EU air companies to organize flights to Azerbaijan, APA-ECONOMICS reports.
07 July 2009 [15:25]

Belarus, Azerbaijan to deepen economic cooperation

Belarus Prime Minister Sergei Sidorski will pay one-day visit to Baku to discuss prospects of economic cooperation, the Azerbaijani government said.
07 July 2009 [13:40]

Average price on non-residential facilities in Baku released

Participants of the Estate Market public union completed the monitoring into situation in the market of non-residential facilities conducted in June in Baku.
07 July 2009 [10:30]

Azerbaijan generated nearly 10.1 billion kilowatt hour of energy in Q1, 2009

Azerenerji has generated nearly 1.3 billion kilowatt hours of energy in June 2009.
04 July 2009 [10:53]

Turkish ambassador: Turkish investments to Azerbaijan hit $6 billion

Total investments in Azerbaijani economy by Turkey has reached $6 billion.
03 July 2009 [17:05]

Azerbaijan ready for energy security cooperation with EU

Azerbaijan is ready for real cooperation in energy security with EU countries, including Romania, Azerbaijani energy minister Natiq Aliyev said at the meeting with Romania's minister of economy Adrian Videanu on July 3.
03 July 2009 [16:27]

Azerbaijan only CIS country with growth in commercial production

According to the CIS Inter-Governmental Statistics Committee, Azerbaijan is the only CIS member state with growth of commercial production which totals 1.3 percent.
03 July 2009 [16:12]

Intergovernmental accord for Nabucco gas pipeline project will be signed on July 13

Intergovernmental accord for the Nabucco gas pipeline will be signed on July 13, Romania's Economy Minister sai. Novosti Azerbaijan quoted Reuters as saying.
03 July 2009 [15:13]

Head of Baku Metro: Fees for travel will not be increased

Though value of a travel in Baku Metro is 0.65 manat with the current tariff totalling 0.05 manat, the fees will not be increased.
03 July 2009 [12:04]

SOCAR launches new ship

The State Oil Company of Azerbaijan Republic (SOCAR) launched a supply vessel Caspian Server, built by BUE Caspian Alliance in the Norwegian Simek Plant on July 3.
03 July 2009 [12:02]

Saudi Arabia issues loan to Azerbaijan to up expand water supply, sewerage system

Saudi Arabia has issued $25 million in loan for Azerbaijan to restore and expand water supply and sewerage system in Azerbaijan’s Absheron peninsula.
03 July 2009 [11:30]

Power supply for nearly 600 customers cut off in Baku

Bakielektrikshebeke [energy distributor in capital] spokesperson Tanriverdi Mustafayev told Day.az.
03 July 2009 [10:58]

Azerenerji: We have not appealed Tariff Council to up cost of electricity for consumers

Azerenerji: We have not appealed Tariff Council to up cost of electricity for consumers.
03 July 2009 [10:42]

OPEC forecasts increase in Azerbaijani oil supplies

OPEC forecasts the growth of Azerbaijani oil supplies to 1 million barrels per day in the fourth quarter of 2009. Supplies will hit 960,000 barrels a day in the third quarter of 2009, according to forecasts.