Business

08 May 2009 [17:23]

Azerbaijan's economic development ministry rejects news about possible rise in bread prices

Canceling exemption of wheat import from the value added tax that took place in 2007 with a prolongation of a year, will not lead to rise in oil prices, the Economic Development Ministry said.
08 May 2009 [16:33]

ACG contractors’ plan is to hand over a minimum of 1.45 billion cubic metres of associated gas to SOCAR in 2009

Azerbaijan International Operating Company (AIOC), consortium operated by BP, plans on reducing associated gas volumes extracted at Azeri-Chirag-Gunashli (ACG) in Azerbaijan’s sector of the Caspian that are to be handed over to State Oil Company of Azerbaijan Republic (SOCAR).
08 May 2009 [15:13]

New giant oil-producing project to be likely launched in Azerbaijan in 2009

After finishing designing, Chirag oil project (COP) which envisages increasing oil production in the Azeri-Chirag-Guneshli (ACG) field may be launched in late 2009, BP (operator of the ACG) said on May 8.
08 May 2009 [14:53]

Azerbaijan-Greece Business Forum to be held in Azerbaijan on May 12

Within official visit of Greek Deputy Foreign Minister Miltiadis Varvitsiotis, Azerbaijan-Greece Business Forum is expected to be held in Baku.
08 May 2009 [09:14]

Azerbaijan’s key oil producer obtained 738,000 bpd of oil production

Azerbaijan International Operating Company (AIOC), a consortium led by BP Azerbaijan, has obtained growth of indicator on daily oil production fro contract offshore oilfield block Azeri-Chirag-Gunashli (ACG) in Azerbaijani sector of the Caspian Sea.
08 May 2009 [08:58]

President of Azerbaijan says Azerbaijani government would render every assistance to Dutch companies wishing to start a business in the country

Azerbaijan President Ilham Aliyev has today met Dutch Prime Minister Jan Peter Balkenende.
07 May 2009 [16:36]

Azerbaijan can fully provide its need in food grain via local production in 2009: minister

At present Azerbaijan provides population's need in food grain via local production by 95 percent, Azerbaijani Agriculture Minister Ismat Abbasov said on May 7.
07 May 2009 [16:24]

Sale of municipal land in Azerbaijan via auctions provides transparency: head of state committee

Privileges will be granted to owners of illegal buildings during auctions and competitions to support lands of municipalities in Azerbaijan, Head of the Azerbaijani State Committee for Land and Cartography Garib Mammadov said on May 7.
07 May 2009 [15:50]

SOCAR to up asphalt production to 1mln sq.m

Annual demand of the State Oil Company of Azerbaijan Republic (SOCAR) in asphalt is around one million square meters, the company said.
07 May 2009 [14:36]

Azerbaijan to end institutionalization of stock market by late 2009: state committee's head

The Azerbaijan State Committee on Securities analyzed the country's securities market and revealed key directions on reforms and further actions, Chairman of the Azerbaijan State Committee on Securities (SCS) Rufat Aslanli said.
07 May 2009 [14:32]

Mexico does not turn to Azerbaijan for explanation: minister

No official appeal has been made to the Azerbaijani Agricultural Ministry from Mexico on explanation grounds for limits on pork import from this country, Agriculture Minister Ismat Abasov said.
07 May 2009 [12:46]

Baku subway to buy new carriages

The security rules in the Baku subway have always been observed seriously. It will be so in future too”, chief of the Baku subway office Tagi Ahmadov told journalists, APA reports.
07 May 2009 [09:59]

Azerbaijani central bank not plans to change banknotes

The Azerbaijani Central Bank does not plan to issue new banknotes due to change of its name despite its old name - Azerbaycan Milli Banki (National Bank of Azerbaijan) was indicated at banknotes, the Central Bank's board chairman Elman Rustamov said on May 6.
07 May 2009 [09:26]

Baku-Kars-Baku flight to be resumed

The Baku-Kars-Baku flight which was suspended in December due to a winter season will be resumed on May 25, the Turkish Cihan news agency reported, citing the statement by Azerbaijan's Consul-General in Kars (Turkey) Hasan Sultanoglu.
06 May 2009 [14:48]

Mexico demands explanation from Azerbaijan

Sources in Mexico state that they wrote a letter to the World Trade Organization (WTO) demanding an explanation from the countries that have imposed restrictions on Mexican imports of pork because of flu (now known as H1N1).
06 May 2009 [12:35]

Azneft puts into operation new oil well at Neft Dashlary

Azneft (the structure of SOCAR oil and gas) has launched a new well at Neft Dashlary, Interfax-Azerbaijan, with reference to the website of SOCAR.
06 May 2009 [11:45]

Azerbaijan ready to deliver oil to Odessa-Brody pipeline: Ukrainian president

Ukrainian President Viktor Yushchenko held a meeting on practical implementation of the Euro-Asian Oil Transport Corridor (EAOTC) on the base of Odessa-Brody pipeline, the Ukrainian President's official Website said.
06 May 2009 [11:25]

Azerbaijan, Turkey not agree on gas deal

Saltuk Duzyol, General Director of Turkish Botas Company, said in his interview with ANS that this issue would be agreet in near future satisfying interests of both parties.
05 May 2009 [17:27]

TRACECA legal affairs workgroup has made recommendations for intergovernmental commission

Realization of the decisions taken at the 4 December TRACECA anniversary conference held in Baku on renewal of Organisation’s institutes is underway.
05 May 2009 [15:31]

Belarus, Azerbaijan need to enhance cooperation: president

Belarus and Azerbaijan need to enhance cooperation, BELTA news agency quoted Belarus President Alexander Lukashenko as saying at a meeting with Azerbaijani First Deputy Prime Minister Yagub Eyyubov.
05 May 2009 [15:25]

Azerbaijani Finance Ministry discusses prospects of further cooperation with ADB, WB

Azerbaijani delegation headed by Finance Minister Samir Sharifov is attending the 42nd meeting of managers of the Asian Development Bank (ADB) in Denpasar, Indonesia.
05 May 2009 [12:14]

Azerbaijan to pass Associated Gas Recovery Plan till end of 2009

Conference “Emission to the atmosphere and management of gases causing warming related to the global climate change in Azerbaijan” is taking placed in Baku today.
05 May 2009 [10:34]

Azerbaijani scientists discussed bio-fuel problems in Moscow

Scientists of the National Academy of Sciences of Azerbaijan (AMEA) have taken part in 4th international congress “Fuel Bioethanol - 2009, devoted to problems of production of bioethanol from non-product raw material in Moscow.
05 May 2009 [10:28]

SOCAR reduced associated gas emission by 140,000 cu m a day

State Oil Company of Azerbaijan (SOCAR) is ongoing the process of reduction of associated gas flaring.
05 May 2009 [09:42]

This April price of Azerbaijani oil products grew by $32.3-47.5/ton

Department of Marketing & Economic Operations (State Oil Company of Azerbaijan; SOCAR) has reported of price growth on all petroleum products exported in April 2009.
05 May 2009 [09:11]

100th tanker sails away from Kulevi Terminal

100th tanker has sailed away from SOCAR-owned Kulevi Terminal in Georgia.
05 May 2009 [09:09]

Turkish delegation due to visit Azerbaijan amid gas price allegations

News on rising gas prices to Turkey which caused considerable agitation in the country has not been confirmed yet.
04 May 2009 [17:16]

Azerbaijan Entrepreneurship Support Fund signed co-operation memos with Ukraine and Kazakhstan

The National Entrepreneurship Support Fund under the Ministry of Economic Development (MED) of Azerbaijan is expanding international partnership.
04 May 2009 [15:29]

Global warming causes melting of glaciers in northern region of Azerbaijan

Global warming caused melting of glaciers in the northern region of the country. Specialists consider that about 50 percent of the glaciers melted in Guba within a century.
04 May 2009 [15:18]

On May 29, Azerbaijan to sign a loan agreement with Japan on $260 million water project

The Japanese Financial Corporation (since 1 October 2008 it has included the Japanese International Co-operation Agency (JICA) and the Japanese Bank for International Co-operation (JBIC)) has discussed with Azerbaijan a draft loan agreement on a watersupply project.
04 May 2009 [12:59]

SOCAR ups oil pumping via Baku-Novorossiysk pipeline

In January-April, the State Oil Company of Azerbaijan Republic (SOCAR) exported roughly 834,000 tons of oil via Baku-Novorossiysk pipeline compared to over 408,000 tons in the same period in 2008, SOCAR said.
04 May 2009 [12:30]

Delhi-London aircraft makes emergency landing in Azerbaijan

A Boeing-777-300 ER passenger jet en route from Delhi to London made an emergency landing at Heydar Aliyev International Airport in Baku, said Maharram Safarli, Press Secretary of Azerbaijan Airlines (AzAL).
04 May 2009 [12:26]

Azerbaijani, Turkish, Georgian transport ministers to meet in Istanbul

Azerbaijani, Turkish and Georgian transport ministers will meet in Istanbul on May 9 as a part of the construction of the Baku-Tbilisi-Kars railway, Azerbaijani Transport Ministry said.
04 May 2009 [11:14]

Negotiations between heads of BBVB and Istanbul Stock Exchange held in Baku

Representatives of Istanbul Stock Exchange (ISE) in the person of ISE chairman Huseyn Erkan and securities market director Morat Bolat, and general director of Turkish Derivatives Exchange (TurkDEX) Chetin Ali Domnez visited the Baku Interbank Currency Exchange (BBVB).
04 May 2009 [10:48]

Baku-Antalya flight to be launched

Azerbaijan Airlines (AzAL) will operate a direct flight between Baku and Antalya from mid-June.
04 May 2009 [09:00]

Gas agreement between Russia, Azerbaijan not calls Nabucco into question: ambassador Gas agreement between Russia, Azerbaijan not calls Nabucco into question: ambassador

The gas agreement between Russia and Azerbaijan does not call implementation of the Nabucco gas pipeline project into question, Turkish Ambassador to Azerbaijan Hulusi Kilic said on May 2.
02 May 2009 [11:24]

Gas consumption reduces in Baku: Bakgaz

PU Bakgaz (distribution and sale of gas in Baku) supplies Baku's gas system with daily gas supply amounting 6.7 million cubic meters compared to 8 million cubic meters of average daily gas supply in March, A source close to supplies in PU said on May 1.
02 May 2009 [11:14]

OPEC forecasts increase in Azerbaijani oil shipment

OPEC forecasts that the Azerbaijani oil shipment will be increased by 70,000 barrels and reach 980,000 barrel daily in 2009.
01 May 2009 [12:43]

International organizations recognize Azerbaijan's economy stable, durable: head of Strategic Research Centre at Azerbaijani Presidential Administration

International organizations recognize Azerbaijan's economy stable and durable, head of the Strategic Research Centre at the Azerbaijani Presidential Administration said.
01 May 2009 [10:40]

Azerbaijani Economists Union to hold a conference ‘Karl Marx’s “Capital” – 150 Years Later’ in June

The idea of development of the global financial and economic crisis in accordance with the theses described by Karl Marx in his work “Capital” has found support in Azerbaijan.
01 May 2009 [09:21]

II Congress of the Confederation of Entrepreneurs of Azerbaijan held in a conflict environment

Yesterday, the Confederation of Entrepreneurs of Azerbaijan (ASK) held its second congress, which considered the development and support of business, realization of the rights of ASK as a representative of country's employers.
30 April 2009 [08:51]

Azerbaijan and Israel will enlarge trade turnover: ambassador

Azerbaijan and Israel will make efforts to increase trade turnover, which in January-March 2009 reached $180 million, said the Israeli Ambassador to Azerbaijan Arthur Lenk on April 29.
29 April 2009 [13:42]

Azerbaijan’s Minister of Transport received commander of US Transportation Command

Gen. Duncan J. McNabb, Commander of the U.S. Transportation Command, is visiting Azerbaijan.
29 April 2009 [13:20]

Azerbaijan, Turkey have principal agreements on gas price: minister

Turkey and Azerbaijan has coordinated terms of gas sold to Turkey from the Shah Deniz gas field by 70 percent, Turkish Energy Minister Hilmi Gular said.
29 April 2009 [12:40]

Economic expert: There is a subject to discuss a new price on Azerbaijani gas for Turkey

Day.Az interview with economic expert Vagif Sharifov.
29 April 2009 [12:12]

Azerbaijan is first participant of ADB program on impact of renewable energy sources

Environment minister Huseyn Bagirov of Azerbaijan received yesterday Joseph Weinstock, chief environment specialist of the Asian Development Bank’s Regional Department.
29 April 2009 [12:08]

SOCAR starts collecting waste metal after offshore oil and gas production works

State Oil Company of Azerbaijan (SOCAR) has begun works on waste metal collection after offshore oil and gas production.
29 April 2009 [11:56]

Qatar to study Azerbaijan's pension insurance system experience: ambassador

Qatar plans to study Azerbaijan's experience on pension insurance system, Qatari ambassador to Azerbaijan Mubarek bin Fahd Jasim Al-Thani said during his meeting with Azerbaijan Social Protection Fund Head Salim Muslumov.
28 April 2009 [16:03]

Import of animal derived products from Europe banned in Azerbaijan

Azerbaijan has today imposed a ban on the import of animal derived products from Europe, said spokesman for the State Veterinary Service under the Azerbaijan Agricultural Ministry Yolchu Khanveli.
28 April 2009 [15:02]

Azerbaijan, Netherlands agree about joint work in labor protection

Labor inspection under the Ministry of Labor and Social Protection of Azerbaijani Population launched joint project with Netherlands international consultative group "TNO - quality of life", inspection head Nabi Shukurlu said at the conference dedicated to labor protection day - April 28.
28 April 2009 [14:52]

Azerbaijan, Cuba to enhance economic cooperation

Prospects of Azerbaijan-Cuba economic cooperation will be discussed during Cuba's governmental delegation's visit to Azerbaijan in mid-May.
28 April 2009 [14:40]

Azerbaijani, Estonian tax agencies lay new basis for cooperation

The Azerbaijani Ministry of Taxes and the Estonian Taxes and Customs Board signed the memorandum on cooperation. The document was signed by Azerbaijani Minister of Taxes Fazil Mammadov and director general of the Estonian Taxes and Customs Board Enrico Aav in Baku.
28 April 2009 [14:04]

Azerbaijan Republic Ministry of Economic Development started to prepare the Action Plan to hasten the country’s development

Azerbaijan’s Minister of Economic Development held the meeting on implementation of presidential instructions given at the governmental session devoted to the results of country’s socio-economic development in the first quarter 2009.
28 April 2009 [12:22]

Azerbaijan significantly increased export potential: SOCAR

About 120,000 barrels of oil is transported via Azerbaijan per day, 40,000 barrels of which accounts for Tengia field of Kazakhstan, SOCAR Marketing and Economic Operations Department Head Nuru Guliyev said at a third Caspian Oil and Gas and Trade and Transport conference in Baku.
28 April 2009 [12:12]

Azerbaijan to adopt Germany’s experience when introducing actuarial settlement system in pension system

The Azerbaijan State Social Protection Fund (SSPF) delegation has completed its five-day visit to Germany.
28 April 2009 [12:10]

Iran offers new option for Caspian oil exports

Iran has offered the Caspian states to transport part of their crude oil exports to the world markets through the Indian Ocean via a pipeline linking Iranian Ports of Neka to Jask, Jaleel Salari, Iranian Oil Company (NICO) corporate planning officer, told APA-ECONOMICS.
28 April 2009 [11:35]

Azerbaijan’s raw materials allow production of 7-8 million tons of cement a year and decline from its import

The Ministry of Environment & Natural Resources of Azerbaijan has new prospective areas in the course of geological prospecting and survey works nearby southern slope of the Greater Caucasus, in the Minor Caucasus and Nakhchivan Autonomous Republic.
28 April 2009 [11:26]

Implementation of Shah Deniz -2 in Azerbaijan depends on gas transit via Turkey: StatoilHydro Azerbaijan

The issue of gas transit via Turkey and fuel supply to Europe must be solved as a part of the Shah Deniz-2, Statoil Hydro Azerbaijan Vice President for Gas Olav Skalmeras said.
28 April 2009 [10:57]

Azerbaijan imposes ban on import of animal products from America

On April 27, Azerbaijan imposed ban on import of cattle-breeding products from the entire American continent, Azerbaijani Agricultural Ministry Veterinary Service spokesperson Yolchu Khanvali said.
28 April 2009 [08:57]

Baku Interbank Currency Exchange turnover on SWAP deals exceeded $212 million

Turnover of swap deals period concluded at the Baku Interbank Currency Exchange (BBVB) keeps on growing.
27 April 2009 [14:55]

SOFAZ's assets hit $11bln: head of fund

The revenues of the State Oil Fund of Azerbaijan (SOFAZ) hit 13.492 billion manat and expenditures - 1,398,700,000 manat in the first quarter of 2009, SOFAZ executive director Shahmar Movsumov said in a press conference.
27 April 2009 [14:38]

WB corrects loan agreement on railroad project in Azerbaijan

WB has agreed with the Azerbaijani government about changes in the loan agreement on Azerbaijani railroad transit and trade.
27 April 2009 [14:06]

Baku to host 16th International Caspian Oil and Gas Exhibition Incorporating Refining and Petrochemicals

The largest oil and gas exhibition and conference in the Caspian region, ‘Caspian Oil and Gas Exhibition Incorporating Refining and Petrochemicals’ will take place from 2nd to 5th June in the Azerbaijani capital, Baku.
27 April 2009 [13:45]

Head office of “MuganBank” OJSC moves to a new building

The head office of “MuganBank” OJSC has moved to a new building, according to Day.Az.