Business

23 August 2008 [11:11]

Ten wells to be launched at Bibi-Eybat field later this year

10 wells will be launched at Bibi-Eybat field in Azerbaijan later this year.
22 August 2008 [12:43]

Turkmen oil and gas minister to visit Azerbaijan

Minister of Oil and Gas industry of Turkmenistan Baymurad Khojamuradov will lead a delegation to arrive in Azerbaijan in the first decade of September.
22 August 2008 [09:10]

President of Azerbaijan allocates AZN 25 mln to encourage agricultural production in Azerbaijan

President of Azerbaijan Ilham Aliyev passed a decree on provision of additional support to supply agricultural producers with seeds, fertilizers and pedigree cattle, reports Day.Az with reference to the official website of the Azerbaijani President.
20 August 2008 [16:02]

BP says testing begins on BTC pipeline

British oil company BP PLC said that testing will begin Wednesday on the closed Baku-Tbilisi-Ceyhan oil pipeline, which runs through conflict-stricken Georgia, ahead of a move to restart full operations as early as next week, according to the Associated Press.
20 August 2008 [10:30]

Heydar Babayev: "The recent events in Georgia may have a negative impact on GDP growth rates in Azerbaijan"

The recent events in Georgia may have a negative impact on the GDP growth rates in Azerbaijan, said Economic Development Minister Heydar Babayev.
20 August 2008 [09:47]

Egyptian railwaymen to arrive in Baku

A delegation led by deputy chairman of the Labor Union Committee of Railwaymen of Egypt Hamad Zahlul, will arrive in Baku on August 21, said spokesman for the Azerbaijan State Railway Company Nadir Azmamedov.
20 August 2008 [09:28]

President of Azerbaijan: "Azerbaijan and BP are able to continue their cooperation even in critical situations"

President Ilham Aliyev received BP executive vice president Andy Inglis.
19 August 2008 [15:41]

President of Azerbaijan receives head of International Financial Corporation

President of Azerbaijan Ilham Aliyev received a delegation, led by head of the International Financial Corporation Lars Tunnel, reports Day.Az with reference to the official website of the Azerbaijani President.
19 August 2008 [15:22]

President of Azerbaijan receives head of German Thyssen Krupp

President of Azerbaijan received a delegation led by chairman of the directors' board of the world-famous German Thyssen Krupp Ekkerhard Schultz, reports Day.Az with reference to the official website of the Azerbaijani President.
19 August 2008 [14:00]

20 new wells drilled in Neft Dashlary field through 7 months of this year

20 new wells have been drilled at Neft Dashlary field through 7 months of this year.
19 August 2008 [10:12]

Head of International Financial Corporation to arrive in Baku

Lars Tannell, Executive vice president of the International Financial Corporation, which is an investment affiliate of the WB group, is to arrive on his first official visit to Azerbaijan, said a source from the IFC Baku representation, according to Novosti-Azerbaijan.
19 August 2008 [09:03]

Turkey's Energy Minister: "Oil transportation through Baku-Tbilisi-Ceyhan pipeline will resume in a few days"

"Oil transportation through Baku-Tbilisi-Ceyhan pipeline, which has been suspended since August 5 due to the blast and fire, will be resumed in a few days," Turkey’s Energy and Natural Resources Minister Hilmi Guler said, APA reports.
18 August 2008 [13:19]

Deal on Baltika's purchase of Azerbaijani brewery complete

Baltika has completed a deal on purchase of Baku-Castel (Azerbaijan) brewery from Braesseries Internationales Holding Eastern Ltd, reports a source from the company.
18 August 2008 [09:46]

Over 1000 railway carriages unable to return to Azerbaijan due to explosion of a bridge near Kaspi city in Georgia

Georgian side is trying to reconstruct an old railway line to resume transportation of oil products from Azerbaijan to its ports, reports Day.Az with reference to ANS TV channel.
16 August 2008 [10:41]

Laying of Bahar-Hovsany-Surakhany gas pipeline to start in Azerbaijan

The process of covering pipes, intended for the underground section of the Bahar-Hovsany-Surakhany pipeline, with concrete was launched at the Caspian Pipe Coatings plant.
16 August 2008 [09:23]

Azerbaijani-Turkish business council to hold its regular session

Azerbaijan's Minister of Economic Development Heydar Babayev received a delegation, led by the head of the Agency of Turkic Cooperation and Development Musa Kulaklykaya.
15 August 2008 [17:40]

AZAL resumes air flights to Tbilisi

Azerbaijan State Air Company AZAL will resume air flights to Tbilisi on August 17, said spokesman for the company Meherrem Safarli.
15 August 2008 [16:03]

Industrial production and services in Azerbaijan top AZN 18 bln in January-July of this year

In January-July of this year, the volume of industrial production and services in Azerbaijan rose by 14.4% up to AZN 18.6 bln, said a source from the State Statistical Committee.
15 August 2008 [08:59]

Russian Vneshtorgbank completing deal on purchase of control stocks in Azerbaijani AF Bank

Russian Vneshtorgbank will soon complete the deal on purchase of control stocks (51%) in Azerbaijani AF Bank, said Russian trade representative in Azerbaijan Yuri Shedrin.
14 August 2008 [13:54]

Azerbaijan's commodity supplies to Russia rise by 60.4% in 2008

Russia sent 7,509 passenger cars and 2,559 trucks to Azerbaijan in the first half of 2008, said Russia's trade representative in Azerbaijan Yuri Shedrin at a press conference today.
14 August 2008 [12:56]

Azerbaijan-Russia commodity turnover tops $1 bln in the first half of 2008

The commodity turnover between Azerbaijan and Russia made $1,041,700,000 in the first half of 2008, in line with Russian statistics, said Russian trade representative in Azerbaijan Yuri Shedrin at a press conference today.
14 August 2008 [11:20]

BP says resumes gas exports by Baku-Tbilisi-Erzirum pipeline

BP has resumed gas exports from Azerbaijan to Turkey via Georgia after halting flows two days ago due to a military conflict between Russia and Georgia, BP said on Thursday, confirming reports of Russian agencies.
14 August 2008 [09:23]

Oil export by Baku-Novorossiysk pipeline resumed

Oil transportation by Baku-Novorossiysk pipeline was stopped by an appeal of the Azerbaijani side from 18.00 August 12 until 09.15 August 13 due to the planned technical works on the Azerbaijani sector of the pipeline, said the press service for SOCAR.
13 August 2008 [17:30]

BP-Azerbaijan: "Development of the plan of repair of the Turkish section of the BTC pipeline, hit by explosion, has been launched"

Officials of Turkish Botas, operating the BTC consortium, launched the development of a plan of repair and rehabilitation of the Turkish section of the BTC pipeline, hit by explosion, said spokeswoman by BP-Azerbaijan company Tamam Bayatli.
13 August 2008 [16:02]

Agricultural facilities to be assembled in Azerbaijan

ZeyemKendMash plant will launch assembly of agricultural facilities in early September of this year in the framework of the project of AtaHolding and Ateshpar companies, said a source from AtaHolding.
13 August 2008 [13:27]

BP cuts gas feeding into South Caucasus pipeline

The South Caucasus Pipeline, or SCP, can continue to flow gas into Turkey for seven days, despite the fact that gas is no longer entering the Azeri end of the pipeline, a spokeswoman for operator BP PLC (BP) said Wednesday.
13 August 2008 [12:16]

Wages of transport sector employees rise 29.7% in Azerbaijan

The number of employees at the transport enterprises of Azerbaijan made 70,105 people in January-June of 2008, rising by 3069 people, as compared to the same period of the last year, said a source from the State Statistical Committee.
13 August 2008 [08:58]

SOCAR enterprises operate by normal schedule in Georgia

The recent events in Georgia did not affect much the working schedule of the enterprises of the State Oil Company of Azerbaijan, locating in the Georgian territory.
11 August 2008 [17:01]

BTC oil pipeline fire extinguished - BP source

A fire on the Baku-Tbilisi-Ceyhan (BTC) oil pipeline was extinguished on Monday, a senior source at BP told Reuters.
11 August 2008 [11:32]

Azerbaijani cargo transshipment via Georgian ports halted

Georgian ports of Poti and Batumi do not accept Azerbaijani cargo due to the recent events in South Ossetia, said the press service for the Azerbaijani State Railway Service, according to Interfax-Azerbaijan.
11 August 2008 [09:53]

Fire burns 20,000 tons of oil at Turkish section of BTC pipeline

The damage from fire at the Baku-Tbilisi-Ceyhan pipeline will be neutralized by insurance.
08 August 2008 [10:35]

Turkish energy minister: "Fire on BTC pipeline will stop in 1-2 days"

Turkish Minister of Energy and Natural Resources Hilmi Guler visited the place of fire at Baku-Tbilisi-Ceyhan pipeline.
08 August 2008 [09:09]

BP declares state of emergency due to explosion at BTC

British Petroleum declared the state of emergency at the Baku-Tbilisi-Ceyhan pipeline, caused by an explosion, which occurred on August 6, and a fire on the pipeline.
07 August 2008 [17:31]

Oil transportation by Baku-Tbilisi-Ceyhan pipeline fully stopped

Oil transportation by Baku-Tbilisi-Ceyhan pipeline has been fully stopped due to the fire, which occurred in Turkey, reports Day.Az with reference to ANS TV.
07 August 2008 [12:23]

BP-Azerbaijan reduces offshore oil production

BP-Azerbaijan has cut production of oil from the Azeri-Chirag-Guneshli fields in the Azerbaijani sector of the Caspian Sea, said spokesman for the company Tamam Bayatli, according to Interfax-Azerbaijan.
06 August 2008 [14:44]

Explosion hits Turkish section of Baku-Tbilisi-Ceyhan pipeline - UPDATED

Fire hit the Erzindjan-Rafahiya section of Baku-Tbilisi-Ceyhan pipeline in Turkey.
01 August 2008 [09:15]

Net of express railroads to be launched in Azerbaijan by 2020

Korean specialists presented renewed proposals on the reconstruction of a railroad section from Baku to the Georgian border, said deputy transport Minister of Azerbaijan Musa Panakhov.
31 July 2008 [12:03]

Construction of rubbish recycling plant in Azerbaijan to take EUR 350 mln

Construction of a rubbish recycling plant in Azerbaijan is estimated at EUR 350 mln, said executive director on international operations of French CNIM Andre Berte in Baku at the presentation of the plant, Interfax-Azerbaijan reports with reference to the Cabinet of Ministers.
30 July 2008 [16:50]

Tea crops fall 75.8% in Lenkoran, Azerbaijan

The results of the first half of this year fix deepening of crisis in Lenkoran tea-growing sector.
30 July 2008 [13:59]

$2 bln to be spent on reconstruction of Azerbaijan's railroads

The state program on the reconstruction of railroads in Azerbaijan will be confirmed soon.
30 July 2008 [10:31]

Azerbaijan to participate in World Travel Market

The steering committee of the World Travel Market declared Azerbaijan's participation in the tourism exhibition this year.
30 July 2008 [09:13]

Azerbaijan ranking fifth among CIS states for salary level

The average salary in Azerbaijan makes $317, which brings the country to the fifth place for the said indicator among the CIS states. To compare, the average salary in Russia made $718 in May of 2008, in Kazakhstan $485, Belarus $396, Ukraine $356.
30 July 2008 [09:05]

Over AZN 9.3 bln in circulation in Azerbaijan

As of July 1 Azerbaijan accounted for AZN 1,326.9 mln in circulation.
29 July 2008 [17:09]

IMF says its World Economic Outlook projections on Azerbaijan were misinterpreted

Today.Az has received a letter from the representative office of the International Monetary Fund in Azerbaijan, according to which the IMF projections on Azerbaijan were misinterpreted.
29 July 2008 [12:33]

Rules of transborder transportation of hazardous wastes ratified in Azerbaijan

The Cabinet of Ministers has ratified rules of transborder transportation of hazardous wastes.
26 July 2008 [13:15]

Over $1 bln to be invested to Azerbaijan's sewerage system

The World Bank is ready to allocate $1.2 bln to Azerbaijan. creditors, reports rb.ru with reference to Reuters.
26 July 2008 [11:59]

Inglab Ahmedov: "Economic future of Azerbaijan seems obscure to me"

Day.Az interview with famous economist Inglab Ahmedov.
26 July 2008 [09:17]

WB representative: "We are ready for cooperation with Azerbaijan on most projects"

Azerbaijan's Economic Development Minister Heydar Babayev received a delegation, led by chief of WB sector on long-term development of Europe and Central Asia Peter Thompson.
25 July 2008 [12:01]

Russia malcontent with quality of cognac alcohol, supplied from Azerbaijan

Cheap cognac brands, produced in Russia, are of doubtful quality, said chief of the Research Center of Federal and Regional Alcohol Market Vadim Drobiz.
25 July 2008 [11:27]

Baku to host Azerbaijani-Romanian business forum

Romanian Prime Minister Kelin Popesku-Terichanu will arrive in Azerbaijan in early September, said a source from the Romanian embassy to Azerbaijan.
25 July 2008 [10:01]

EBRD representative: "Economic reforms, conducted in Azerbaijan, is the focus of our attention"

Azerbaijan's Economic Development Minister Heydar Babayev received Kurt Gaider, director of the EBRD business group on financial institutions.
25 July 2008 [09:28]

IMF: "Azerbaijan will be the only CIS state to experience economic recession in the long term perspective"

The International Monetary Fund predicts economic recession in Azerbaijan beginning from 2012.
24 July 2008 [15:55]

President of Azerbaijan attends ground-breaking ceremony of the Turkish section of Baku-Tbilisi-Kard railroad - UPDATED

The ground-breaking ceremony of the Turkish section of the Baku-Tbilisi-Kars railroad was held today in Kars at 10:30 local time.
24 July 2008 [12:48]

50 buses worth $150.000 to be delivered to Azerbaijan

Expensive passenger buses will be imported to Azerbaijan in the next month.
24 July 2008 [10:47]

Rovnag Abdullayev: "Azerbaijani government takes serious steps to ensure alternative transportations of energy sources to the world markets"

SOCAR President Rovnag Abdullayev received French ambassador to Azerbaijan Gabriel Keller, said the press service for SOCAR.
23 July 2008 [12:47]

BP company calls back its employees from Russia with a part to continue working in Azerbaijan

British BP company is calling back its technical specialists from Russia.
23 July 2008 [12:07]

SOCAR's daughter enterprise expanding net of petrol stations in Georgia

SOCAR Energy Georgia, daughter enterprise of the State Oil Company of Azerbaijan is implementing long-term plans of opening of SOCAR brand petrol stations in Georgia.
23 July 2008 [09:29]

Azerbaijan ready to import Ukrainian grain

Azerbaijan is interested in buying Ukrainian new crops of grain, said first vice Premier of Azerbaijan Yaqub Eyubov during the meeting with Ukrainian ambassador to Azerbaijan Boris Klimchuk.
22 July 2008 [16:42]

Azerbaijan's investments to Istanbul's economy rise 6.73%

The commercial chamber of Istanbul registered 59 companies from Azerbaijan, 21 from India, 8 Singapore, 6 Malaysia, 244 Germany and 68 Great Britain in the first half of this year.