Business

17 October 2008 [17:10]

Pension financing requires AZN 120,000,000 per month in Azerbaijan

In January-September of 2008 the profits of the state fund of social protection of Azerbaijan made AZN 959,000,000, which is 34% higher over the past year and 0,1% over the forecast.
17 October 2008 [15:49]

Ukrainian buses to be assembled in Baku

17 October 2008 [12:53]

Supplies of Azerbaijani gas to Dagestan negotiated

The State oil company of Azerbaijan and Gazprom are negotiating on supplies of Azerbaijani gas to Dagestan on the basis of direct sales or swap.
17 October 2008 [09:09]

Azerbaijani GDP makes AZN 30.4 bln through 9 months

In January-September of 2008 Azerbaijani GDP made AZN 30.4 bln, which is 15% rise, as compared to the same period of the last year.
16 October 2008 [15:26]

Third Novaya Armada tanker delivered to Palmali company

An act on the third tanker of a new project RST22, named Bashir Safaroglu and ordered by Palmali, has been signed at Krasnoye Sormovo plant.
16 October 2008 [10:12]

Has the Armenian Central Bank demanded to check the activity of Western Union in Russia?

The story concerning the work of Western Union in Nagorno-Karabakh has aroused the interest of the Bank of Russia, reports Vedomosti newspaper.
15 October 2008 [09:04]

Kasmornefteflot's vessels fulfilling orders of Caspian littoral states

The Heydar Aliyev facility will be delivered to the Yalama field on the north of the Caspian Sea by means of the vessels Andoga, Nercha and Vadim Seidov of Kasmornefteflot.
14 October 2008 [13:26]

Delegation of German businessmen to arrive in Azerbaijan

Representatives of seven enterprises of German land of Northern Rein-Westphalia, as well as the commercial-industrial chamver of Dortmund will be visiting Azerbaijan on October 20-24, reported sources in the German embassy to Azerbaijan.
14 October 2008 [12:17]

NBA reduces refinancing rate to annual 12% to ensure financial stability of banking system

The board of the National Bank of Azerbaijan decided to reduce the refinancing rate from annual 15% down to 12% and the maximum limit of the cap and floor from 20% to 17%, according to the press service for NBA.
13 October 2008 [13:48]

AZN 2 bln to be allocated for railway development in Azerbaijan

The state program for development of Azerbaijani railway has been worked out for 2009-2012.
13 October 2008 [09:58]

Kazakhstan oil pumping by BTC to start in late October

Pumping Kazakh oil to the BTC pipeline will start in the second half of October, sources from BP-Azerbaijan told Interfax-Azerbaijan.
13 October 2008 [09:43]

First passenger aircraft lands in Lenkoran

The first passenger aircraft operating by Baku-Lenkoran landed in Lenkoran Saturday.
11 October 2008 [12:41]

Mirvari Gahramanly: "Azerbaijani workers receive an insignificant part of the oil pie as compared to foreigners"

The rights of workers are violated not only in foreign companies but also in SOCAR", said Mirvari Gahramanly, chairman of the committee of protection of oil workers rights and famous human rights activist.
11 October 2008 [11:18]

IMF says Azerbaijan leading on GDP among CIS states in 2008-2009

The International Monetary Fund has released the World Economic Outlook.
11 October 2008 [10:57]

Jalilabad-Yardimli highway is being laid

The highway, connecting the regional centers of Jalilabad and Yardimli regions of Azerbaijan is being reconstructed.
11 October 2008 [10:20]

Serik Primbetov: "Azerbaijan and Kazakhstan will cope with the role of alternative energy suppliers for Europe"

Day.Az interview with ambassador extraordinary and plenipotentiary of Kazakhstan to Azerbaijan Serik Primbetov.
11 October 2008 [09:30]

IMF says inflation rate will make 22.4% in Azerbaijan in 2008

The International Monetary Fund has released the first two chapters of World Economic Outlook in Washington.
10 October 2008 [16:29]

SOCAR's fund of production wells makes 6,053

The fund of production wells of the State Oil Company (except for joint ventures and operating companies) makes 6,053 as of October 1 of this year.
10 October 2008 [14:03]

Oil production from Western Azeri platform resumed

BP-Azerbaijan has resumed oil production from Western Azeri platform, said spokesman for the company Tamam Bayatli, according to Interfax-Azerbaijan.
10 October 2008 [13:11]

41 new underground stations to be constructed in Azerbaijani capital in the next 17 years

The construction of 41 metro stations is planned for the next 17 years.
10 October 2008 [12:20]

Azerbaijani lift vessel participates in Turkmen oil fields development

The lift vessel Ramiz Hajiyev of the Caspian maritime oil fleet of SOCAR has been participating in the development of the Turkmen oil fields for already six months.
10 October 2008 [12:12]

Azerbaijan’s oil output to drop sharply in a decade

Oil output is expected to drop to nearly 45 - 50 million tonnes in 2018 after a peak of production, State Oil Company of Azerbaijan said.
10 October 2008 [10:27]

Nikolae Ureke: "Events in Georgia accelerated the Europe's search of new energy sources"

Day.Az interview with Romanian ambassador extraordinary and plenipotentiary to Azerbaijan Nikolae Ureke.
10 October 2008 [09:00]

President of Azerbaijan inaugurates Jabber Hashimov tanker

President of Azerbaijan Ilham Aliyev attended a commissioning ceremony for a new oil tanker bearing the name of Jabbar Hashimov at the Baku Sea Port on Thursday.
09 October 2008 [17:12]

Finnish companies interested in investing to Azerbaijan's ICT sector

Prospects of cooperation in the sphere of information and communication technologies between Azerbaijan and Finland were discussed in Baku today.
09 October 2008 [16:42]

Salt producing plant to be launched in Azerbaijan in Q3 of 2009

An enterprise on production of iodine sale in Azerbaijan will be commissioned in the 3rd quarter of 2009, said chairman of the department for business and investment management of Azersun Holding Mehran Mamedov.
09 October 2008 [15:30]

Paper processing plant to open in Azerbaijan

Azersun Holding has started construction of a new paper wastes processing plant in Sumgayit.
09 October 2008 [15:02]

Korean railway delegation arrives in Azerbaijan

The Korean railway delegation, led by general manager of the authorized railway body of Korea Yon Hae Sin arrived in Azerbaijan today, said spokesman for Azerbaijan State Railway Company Nadir Azamamedov.
09 October 2008 [14:19]

President of Azerbaijan receives Finland's Minister of External Trade and Development

President of Azerbaijan Ilham Aliyev received a delegation, led by Finland's Minister of External Trade and Development Paavo Vajrinen, reports Day.Az with reference to the official website of the President of Azerbaijan.
09 October 2008 [14:05]

Oil Museum of Azerbaijan to be designed by Turkish specialists

The commission of international tender for development of the design concept of the Azerbaijan Oil Museum held itsd last session.
09 October 2008 [10:16]

Growing global financial crisis will affect the economic projects of Azerbaijan

Ilham Shaban, chief of the Center of Oil Researches, considers that the global financial crisis will have a negative impact on the main economic projects of Azerbaijan, connected with production and transportation of oil.
09 October 2008 [09:56]

Azerbaijan ranking 69th in Global Competitiveness Report 2008-2009

The World Economic Forum has released the Global Competitiveness Report for 2008-2009.
09 October 2008 [09:44]

AZPROMO interested in opening representative office in Turkmenistan

Azerbaijan Export and Investments Promotion Foundation voiced interest in opening a representative office in Turkmenistan.
09 October 2008 [09:38]

Italy invites Azerbaijan to hold presentation of investment opportunities

Azerbaijan Export and Investment Promotion Foundation received an invitation to hold a seminar on country's investment opportunities in Italy.
09 October 2008 [09:08]

Polish ambassador to Azerbaijan: "We hope for success of the energy summit in Baku"

Day.Az interview with ambassador extraordinary and plenipotentiary of Poland to Azerbaijan Kshishtov Krayevski.
08 October 2008 [16:13]

Economic Development Minister: "Inflation rate will range between 12-14% in Azerbaijan in 2009"

Inflation rate will range between 12-14% in Azerbaijan in 2009, according to the forecasts of the Economic Development Minister, said Economic Development Minister Heydar Babayev.
08 October 2008 [16:01]

Azerbaijani Economic Development Ministry prepares proposals on AIC external investment activity

Azerbaijani Ministry of Economic Development has prepared and introduced to the presidential administration proposals on investing abroad by the Azerbaijan Investment Company, said Azerbaijani Economic Development Minister and head of AIC observation council Heydar Babayev.
08 October 2008 [15:42]

Azerbaijan declares tender for detailed protection of port construction in Alyat

A tender on development of detailed projection has been declared in the framework of the project of construction of an international trade seaport in Alyat settlement, said Azerbaijani deputy transport minister Musa Panakhov.
08 October 2008 [14:32]

Heydar Babayev: "Oil prices will not go lower than $80 per barrel"

Azerbaijan does not intend to change the state budget forecasts about the oil prices due to their decline on the world markets, said Azerbaijani Economic Development Minister Heydar Babayev.
08 October 2008 [13:31]

Heydar Babayev: "The global financial crisis will not affect Azerbaijan's economy"

The global financial crisis will not affect the economy of Azerbaijan greatly, said Minister of External Trade and Development of Finland Paavo Vajrinen in Baku.
07 October 2008 [17:06]

Cost of the project of waste incineration plant to be raised in Azerbaijan

The cost of the waste incineration plant construction project in Azerbaijan will be raised up to EUR 408,280,000, said a source in the government, according to which the increase will include VAT to be reflected in the contract with the project operator - French CNIM.
07 October 2008 [16:19]

Azerbaijan prolongs agreement with KEPCO on construction of private electric station until 2009

The Economic Development Ministry has prolonged the agreement with Korean KEPCO about the construction of a private electric station in Azerbaijan of a capacity of 818 MW until June of 2009, said chief of department of foreign investment and coordination of technical assistance Asker Alekperov.
07 October 2008 [15:10]

Trilateral meeting on North-South transport corridor held in Baku

Baku is hosting the Azerbaijani-Russian-Iranian meeting of the working groups, engaged in the implementation of the North-South international transport corridor, said spokesman of the Azerbaijan State Railway Company Nadir Azmamedov.
07 October 2008 [14:53]

Central Food Lab being created in Azerbaijan

The Central Food Laboratory of the Consumer Market Oversight Service under Azerbaijan's Economic Development Ministry will be launched in 2010, said acting head of the service Aslan Jafarov.
07 October 2008 [14:30]

Schedule of raising Sangachal-Garadagh terminal's capacity to be corrected

The Azerbaijan Investment Company and Kaztransservis (Azersun Holding) are planning to alter the schedule of raising the capacity of the Sangachal-Garadagh terminal, said AIC chief executive Anar Akhundov.
07 October 2008 [12:30]

Baku to host several business forums

Baku will host several business forum with Romania, Sweden, Cuba and Mexico in late October-early November, said chief executive of the Azerbaijan Export and Investments Promotion Foundation (AZPROMO) Emil Mejidov.
07 October 2008 [11:06]

Baku to face problems of water supply

This winter the population of Baku will have problems with water supply.
06 October 2008 [17:51]

Milk plant opens in Sheki, Azerbaijan

The Azerbaijan-Turkey enterprise Sheki Agro Industries opens in Sheki region of Azerbaijan.
06 October 2008 [14:56]

Money supply grows 64.4% in Azerbaijan

As of September 1 of this year money supply made AZN 5,365,100,000 in Azerbaijan.
06 October 2008 [14:44]

Volume of credit investments in Azerbaijan grows 80% through the past year

As of September 1 of this year the overall volume of credit investments in Azerbaijani economy made up AZN 6,450,000,000.
06 October 2008 [14:06]

NBA monetary reserves reach $5.4 bln

The monetary reserves of the National Bank of Azerbaijan have grown $1,423,400,000 (35.4%) as compared to earlier this year.
06 October 2008 [10:58]

New chief of representative office of Russian Maritime Registry of Shipping in Azerbaijan appointed

Shaban Guliyev has been appointed a new chief of the Azerbaijani representation of Russian Maritime Registry of Shipping (RS), said the press service for RS.
04 October 2008 [12:59]

12 new electric stations launched in Baku

12 new electric stations have been launched in Baku, said spokesman for Bakielektrikshebeke Tanriverdi Mustafayev.
04 October 2008 [12:38]

Construction of a bridge near the Khalqlar Dostlughu metro station suspended

Construction of the bridge in Babak Avenue of Baku City has been stopped, APA-ECONOMICS reports.
04 October 2008 [09:09]

Wireless Internet to be available all over Azerbaijan next year

The optical cable network building to a number of regions in Azerbaijan has continued to progress and is slated for completion by October 15, said Iltimas Mammadov, Azerbaijan’s Deputy Minister of Communications and Information Technologies.
03 October 2008 [15:19]

Baku-Novorossiysk pipeline exports over 947,000 tons through 9 months

The SOCAR Department of Marketing and Economic Operations exported 82,832 tons of oil by the Baku-Novorossiysk pipeline in September of 2008.
27 September 2008 [16:13]

Azerbaijan will gain over a billion of dollars from tourism in 2009

This year the expected receipts of the country's economy from the tourism sector must exceed a billion of dollars, said Azerbaijani Minister of Culture and Tourism Abulfaz Garayev.
27 September 2008 [15:14]

Baku-Lenkoran first air flight put off again

The date of the first flight by the Baku-Lenkoran route has been put off again.
26 September 2008 [15:40]

Azerbaijani government signs two agreements on "Accounting in budget and corporate sphere"

The Azerbaijani government and International Bank for Reconstruction and Development (WB) have signed a credit agreement on the project of "Accounting in budget and corporate sector" (CAP/SAP) in Baku today.
26 September 2008 [15:10]

Railway authorities of Azerbaijan, Iran and Russia to meet in Baku

Baku will host the Azerbaijan-Russia-Iran meeting of the work groups, engaged in the project of international transport corridor North-South on October 7-8, said spokesman for the Azerbaijan State Railway Company Nadir Azmamedov.