Business

18 April 2007 [21:55]

Emergencies Ministry bans buildings higher than 12 storeys

Emergencies Ministry bans constructing buildings higher than 12 storeys in the capital Baku, Orujeli Hajiyev, Deputy Emergencies Minister told journalists.
18 April 2007 [21:53]

Cars to be charged for entrance to historical-agricultural monument sites

Azerbaijan's Transport Ministry intends to charge cars for entrance to historical-agricultural monument sites in Baku, said Azerbaijan Road Service Chairman Javid Gurbanov.
18 April 2007 [21:51]

Azerbaijan sends preliminary paperwork to Turkey for Ceyhan Refinery

Azerbaijan has prepared the preliminary paperwork for construction of an oil refinery in Ceyhan Port, said Rovnag Abdullayev, the President of the State Oil Company of Azerbaijan (SOCAR).
18 April 2007 [21:44]

Emergencies Ministry warns to close low-quality concrete producers

BASF Caspian JKS has held the second congress in Baku, examining modern construction and concrete production.
18 April 2007 [21:43]

Azerbaijan, Russia's Ulyanovsk province negotiate to expand relations

Azerbaijan negotiates with Russia for expanding relations with Ulyanovsk province.
18 April 2007 [21:37]

Alat-Astara road being upgraded

The project for upgrading 22 km Section of the Alat Astara Highway (Baku-Astara) has started Wednesday. The project is funded by the government of Azerbaijan ($94mln), the World Bank ($106.1mln) and Asian Development Bank ($200mln).
18 April 2007 [21:20]

Azerbaijan, Korea to sign on Intellectual Traffic Control System in Baku

Within the scope of Azerbaijani president's visit, Azeri Transport Ministry and South Korean Company (SKS) will sign an agreement for installation of Intellectual Traffic Control System in Baku.
18 April 2007 [21:16]

President Aliyev receives OMV chief executive

Azerbaijani President Ilham Aliyev received OMV Executive Board's chairman Wolfgang Ruttenstorfer.
18 April 2007 [21:05]

Azerbaijan amends 500 bus delivery agreement terms

Azerbaijan's Nihad Motors has made some changes to the terms of the agreement with China's ChangAn Motors for delivery of 500 buses to Azerbaijan.
18 April 2007 [21:01]

HotelExpo and AITF-2007 start in Baku

The first Azerbaijan International Hotel Business Exhibition HotelExpo and the fifth Azerbaijan International Travel and Tourism Fair AITF-2007 have started in Baku.
18 April 2007 [21:00]

Azerbaijan seeks manager & consultant for issue and flotation of eurobonds

Azerbaijan's Finance Ministry has announced two contests to find a manager and a legal consultant for the first issue and flotation of eurobonds in the international market.
18 April 2007 [20:48]

Azerbaijan, Georgia and Turkey study prospects of parallel power grid

Azerbaijan, Georgia and Turkey are studying prospects of the idea of connecting the national power systems to operate in parallel.
18 April 2007 [14:36]

Azerbaijan-Russia Intergovernmental commission's meeting postponed

The meeting of Azerbaijan-Russia intergovernmental economic commission scheduled for April 23 has been postponed.
18 April 2007 [13:58]

Azerbaijan improves law on investment funds

Azerbaijan's State Committee for Securities has completed draft law on investment funds and introduced to the exports of the international financial institutions.
18 April 2007 [13:49]

Azerigas cuts off gas supply to 1,675 defaulting customers

Azerigas, State Gas Supply Company, has announced that it has cut off supply to 1,675 defaulting customers since April 16.
18 April 2007 [13:19]

Two IMF missions visiting Baku, Wednesday

Two IMF missions for technical assistance will visit Azerbaijan on Wednesday.
18 April 2007 [12:45]

Azerbaijan, Morocco ink cooperation deal on agriculture

On April 17, the Republic of Azerbaijan and the Kingdom of Morocco signed an agreement of cooperation on agriculture within the scope of Azeri Agriculture Minister Ismat Abbasov's visit to this country at the invitation of Moroccan Agriculture, Rural Development and Fishing Minister Mohand Laenser.
18 April 2007 [12:40]

Preliminary trial on case of Barmek officials postponed

Preliminary court proceeding on case of president of Barmek Azerbaijan Electricity Distribution LLC Huseyn Arabul and seven more company officials, who are accused of abuse of power, embezzlement and negligence of court judgements, continued.
18 April 2007 [10:51]

Transport Ministry develops some new draft normative-legal documents

Azerbaijan's Transport Ministry has developed some draft documents on technical services to vehicles and submitted to relevant state bodies.
18 April 2007 [10:43]

ABTC to organize courses on leadership in bank sector, legislation basis, measures against money laundering

Azerbaijan Bank Training Center will organize courses on "Marketing: new bank products and services" and "Improvement of customers services" in April.
18 April 2007 [10:39]

Draft bill on Financial Controls developed in Azerbaijan

Azerbaijani Accounting Chamber and Finance Ministry have developed draft bill on Financial Controls, Deputy Chairman of the chamber Abbas Allahverdiyev said on Tuesday during the discussions of 2006 Report of the AAC in Parliament.
18 April 2007 [10:39]

Wartsila charges Azerbaijan much more for power plants, claims Azeri MP

Azerenergy, the State Energy Company of Azerbaijan, pays twofold price for Finnish Wartsila Corporation’s multi-fuelled power plants, MP Jamil Hasanli told a parliament session.
18 April 2007 [10:36]

Azeri reps attends 13th international second-hand equipment sale RESALE-2007

The 13th international second-hand equipment sale RESALE-2007 has started in Karlsruhe, Germany.
18 April 2007 [10:35]

Turkey's Privatization Administration Chairman visits Azerbaijan

The delegation headed by Turkey's Privatization Administration Chairman Metin Kilci visits Azerbaijan.
18 April 2007 [10:35]

Kurgan district to open Baku Office

Some enterprises of Russia's Kurgan district have taken profitable orders from Azerbaijan after the presentation of the oblast in Baku.
18 April 2007 [10:30]

Trade turnover between Azerbaijan and Mangistau increased by 20%

Trade turnover between Azerbaijan and Mangistau province of Kazakhstan increased by 20% in 2006, Krimbek Kushembayev, head of Mangistau province of Kazakhstan said at Azerbaijan-Kazakhstan business forum.
18 April 2007 [10:28]

200,000 tons of grain to be shipped to Azerbaijan from Kazakhstan

"Aktau Port's cargo flow mostly includes oil and steel. The shipment flow into and out of the port reached 10mln tons last year," Kazakhstan's Aktau Port deputy Director Dauren Kutpanbayev said.
18 April 2007 [10:25]

ATIB prize "Golden wheel" presented in Philharmonic Society

Presentation ceremony of the prize "Golden wheel" on occasion of the third anniversary of Union of Azerbaijani and Turkish Businessmen (ATIB) was held in Azerbaijan State Philharmonic Society.
18 April 2007 [10:13]

Visa-free travel can be applied between Latvia and Azerbaijan

Latvia appealed to official Baku for allowing visa-free travel for its citizens.
18 April 2007 [10:09]

Azerbaijani students to attend conference on Western Siberia fuel-energy complex

Azerbaijani students will participate at the conference "Modern technologies for Western Siberia's fuel-energy complex", Azerbaijani consul general to St Petersburg Gudsi Osmanov told.
18 April 2007 [09:32]

Russia-Azerbaijan Intergovernmental Commission to adds extra issues to agenda

April 24, Russia - Azerbaijan Intergovernmental Commission for Economic Cooperation will meet in Moscow to discuss a number of issues, Yuri Shedrin, Head of Russia's Trade Office in Azerbaijan, told.
18 April 2007 [09:28]

Seminar on "Role of audit in Azerbaijani economy" to be held

Azerbaijan State Economics University and Azerbaijan Auditors Chamber (AAC) will organize scientific-practical conference on "Role of Audit in Azerbaijani economy".
18 April 2007 [09:16]

Azerbaijan attracts more tourists from Japan, South Korea and China

Nowadays, Azerbaijan attracts more and more tourists from Japan, South Korea and China.
18 April 2007 [08:40]

Baku holds roundtable on "spending of oil revenues: competition policy or industrial policy"

April 18, with the support of the U.S. Agency for International Development (USAID), the Eurasia Foundation and the Foundation for Assistance to Entrepreneurship will launch a one-day roundtable on "Spending of Oil Revenues: Competition Policy or Industrial Policy" to promote transparency and efficient use of oil revenues.
18 April 2007 [08:35]

Baku hosts Azerbaijan-Poland business-forum

Baku has today hosted Azerbaijan-Poland business-forum.
18 April 2007 [08:34]

Azerdemiryolbank expands spectrum of microcredit program

Azerdemiryolbank intends to enlarge the geography of its micro loan lending program, by opening branches in Yevlakh, Aghdash, Zagatala, Goychay and Bayil.
17 April 2007 [21:14]

Trades at BICEX, Apr. 17

The weighted average exchange prices made up 0,8653 AZN for 1 US dollar in the Baku, Interbank Currency Exchange on April 17.
17 April 2007 [21:06]

Kazakhstan intends to buy oil drilling equipment from Azerbaijan

Kazakhstan intends to buy drilling equipment from Azerbaijan to use in oil industry.
17 April 2007 [21:00]

First Caspian dockyard to be built in Baku

South Korean Company intends to construct a shipyard at the Caspian Sea, Baku.
17 April 2007 [20:57]

Second cement producing plant to be built in Azerbaijan

Construction of the second cement factory will be commenced in this year's end, said Azerbaijan Investment Company Deputy Executive Director Riyad Gasimov.
17 April 2007 [20:48]

Some government agencies document procured goods and services at exaggerate prices

Some government agencies of Azerbaijan document the procured services and goods at a false exaggerated price, much more than the market prices, MP Jamil Hasanli told a parliament session on April 17.
17 April 2007 [20:47]

Ritz-Carlton to operate in Azerbaijan

Azerbaijan is currently carrying out construction of more than 20 tourism facilities in the country.
17 April 2007 [17:47]

Truck transportation regulations blueprint submitted to government

Azerbaijan's Transport Ministry has submitted Draft Regulations for Truck Transportation to the Government for approval.
17 April 2007 [17:33]

Parliament approves Azerbaijani Accounting Chamber's 2006 report

Azerbaijani Accounting Chamber's 2006 Report has been discussed at the sitting of Azerbaijani parliament.
17 April 2007 [17:16]

Baku to host HotelExpo and AITF-2007 in April

On April 18-20, the first Azerbaijan International Hotel Business Exhibition HotelExpo and the fifth Azerbaijan International Travel and Tourism Fair AITF-2007 will be held in Baku by Iteca Caspian, an exclusive partner of ITE Group PLC, the world's leading exhibition organizer.
17 April 2007 [17:11]

Baku Underground appeals to Binagadi court on occupying the area of new metro station

"Baku Underground has appealed to Binagadi district court on occupying the area of new metro station in the 7th and 8th micro districts," said Nazakat Tanriverdiyeva, spokesperson for Baku Underground.
17 April 2007 [16:50]

Azerbaijan's share of the world's hydrocarbons

Petroleum Intelligence Weekly has published its annual ranking of the world's 50 largest oil companies, this ranking is the leading source of comparative performance assessments on all the world's oil companies.
17 April 2007 [15:56]

Yeni Ganja's gas supply suspended

The temporary problem emerged with gas supply of Yeni Ganja settlement of Ganja region as a result of gas leak.
17 April 2007 [13:52]

Latvia takes interest to invest in Azerbaijan

Today, the third Azeri-Latvian Business Forum has started in Baku.
17 April 2007 [12:36]

Heydar Asadov appointed as chairman of Azerbaijan's Accounting Chamber

Azerbaijan's Deputy Finance Minister Heydar Asadov was appointed as chairman of Azerbaijan’s Accounting Chamber.
17 April 2007 [12:10]

Azerbaijan to invest $1 billion in railway modernization for three years

Within the scope of the three-year infrastructure development program, Azerbaijan intends to invest some $1 billion in railway modernization, including rationalizing the track and rolling stock asset base, increasing productivity, setting up a new legal framework and building up management capacity, Azerbaijan State Railway Company (ADDY) officer Gurban Nazirov told.
17 April 2007 [10:06]

Reopening Baku-Supsa pipeline not high priority-BP

BP Plc said on Monday reopening an oil pipeline from Baku to Supsa in Georgia, shut since last year, is not a high priority as supply rises from another export route.
17 April 2007 [08:53]

Presentations on Azerbaijan's tourism potentials to be held in European and Asian countries

Azerbaijan's Culture and Tourism Ministry will hold presentations on Azerbaijan's tourism potentials in Switzerland, China, Uzbekistan and some other countries, Culture and Tourism Ministry's official for foreign tourism sector Elchin Gafarli told the journalists.
17 April 2007 [08:52]

Rabitabank's 1Q net profit jumps 57.5%

As of April 1, Rabitabank's assets grew to AZN 49.2 million, 11% higher than the early year.
17 April 2007 [08:50]

18278 tax defaulters warned in Azerbaijan in Q1

In the first quarter of this year, Azerbaijan's Taxes Ministry has warned 18278 taxpayers who delayed their declarations.
17 April 2007 [08:46]

Investment competition announced for OJSC Sumgait Compressors

Azerbaijan State Committee for Public Property Management has announced an investment competition to sell shares of Sumgait Compressors Open Joint Stock Company. Any local and foreign investors can take part in the bidding.
17 April 2007 [08:45]

Azerbaijan's Transparency Initiatives discussed in Berlin

Berlin hosted the 2nd Board meeting of the Extractive Industry Transparency Initiative (EITI). Board member, Executive Director of State Oil Fund of Azerbaijan (SOFAZ) Shahmar Movsumov attended the meeting.
17 April 2007 [08:43]

Kazakhstan's Mangystau oblast delegation to visit Baku

A delegation of Mangystau oblast is expected to pay a one-day visit to Baku today.
17 April 2007 [08:41]

Azerfon signs roaming deal with Turkish, Indian and Hungarian operators

Azerfon LLC (trademark Nar Mobile) announced that as from April 16 Nar Mobile subscribers shall be able to use direct International roaming services being in Turkey, India and Hungary.
17 April 2007 [08:40]

BP intends to expand relationship with Azerbaijan

SOCAR's President Rovneg Abdullayev received Managing Director of BP Group and Chief Executive of Exploration and Production Andrew Inglis and President of BP-Azerbaijan Bill Schrader.
17 April 2007 [08:37]

Azerbaijan cuts Q1 electricity imports 54%

During the first quarter, Azerbaijan produced more than 6.6bn kilowatts of electricity, of which 6bn kilowatt-hour generated by thermal power stations and the rest by hydropower stations.
17 April 2007 [08:36]

Ganja Agrobusiness Association holds conference on overall results

Ganja Agrobusiness Association (GABA) held a conference on overall results.
17 April 2007 [08:34]

Russia indefinitely halts gas export to Georgia, Azerbaijan continues to supply

Russia will suspend gas exports to Georgia on the night of April 16-17 for pipeline repair.
17 April 2007 [08:30]

President Aliyev receives BP Ecexutive Director

Azerbaijani President Ilham Aliyev received Andrew Inglis, Managing Director of the BP group and Chief Executive of Exploration & Production.
17 April 2007 [08:12]

Number of tourists rises 20-25% every year

The number of tourists visiting Azerbaijan has increased by 20-25% within the last five years, Azerbaijan's Culture and Tourism Ministry's official for foreign tourism sector Elchin Gafarli told the journalists.
17 April 2007 [08:07]

Baku hosts seminar on Tourism Marketing and Advertising Techniques

World Tourism Organization (WTO) and Azerbaijan's Culture and Tourism Ministry have today organized seminar on "Tourism marketing and advertising techniques."
16 April 2007 [21:50]

Azerbaijan pumps more gas to Georgia as Russia cuts off

Georgia will only be receiving Shah Deniz gas via Baku-Tbilisi-Erzurum pipeline from Azerbaijan for two days as Russia suspends gas exports to Georgia on the night of April 16-17 for pipeline repair.
16 April 2007 [18:18]

Azerbaijan working out tourism raising program

Azerbaijan is working out a 10-year state program for tourism development.
16 April 2007 [12:20]

Binagadi residents to be removed due to construction of new metro station

Representatives of the State Committee for Refugees and IDPs and Baku Underground along with the police visited the area belonging to Baku Underground situated on the crossroad of 7th and 8th micro districts in Binagadi.
16 April 2007 [12:19]

Azerigaz cuts off gas supply to defaulting customers from Monday

Azerigaz, State Gas Supply Company, has announced that it would cut off supply to defaulting customers from April 16.
16 April 2007 [12:17]

Azerbaijan, Russia fail to agree on electricity imports

The next round of negotiations on electricity imports and exports between Azerbaijan's Azerenergy and Russia's RAO UES in Moscow has not yielded any good result for the parties.
16 April 2007 [12:16]

Azerbaijan's Q1 oil exports jumps 76%

Azerbaijan exported a total of 7.42 million tons of oil during the first quarter, 76.25% higher than the same period last year.
16 April 2007 [12:08]

Azerbaijan, Kazakhstan continue talks over construction of Caspian Sea portion of TAE fiber-optic line

Azerbaijan's Ministry of Communication and Information Technologies said the negotiations are continuing with Kazakhstan over construction of the Caspian Sea stretch of the Trans-Asia-Europe (TAE) fiber-optic line.
16 April 2007 [11:37]

Erdal Inshaat LLC president detained

Officers of Yasamal police district detained president of Erdal Inshaat (Construction) LLC, Turkish Erdal Yilmaz and Baku resident Asif Veliyev, Interior Ministry press service told.
15 April 2007 [14:09]

Azerbaijan to apply new criteria to grant disability degrees

"Some receive disability degree illegally and pretend to be disabled. But we have developed new regulations for determining disability. We will carry out reform in the Medial Examination Commission to bring it in line with international standards," Azerbaijan's Labor and Social Protection Minister Fuzuli Alakbarov told at the board meeting.