Business

28 February 2007 [23:14]

Inflation to step up unless Azerbaijan takes effective measures

"If the Government of Azerbaijan doesn't take effective additional measures, the inflation rate will continue to rise and to hit 17% at the year-end."
28 February 2007 [22:56]

Emergencies Ministry sends building materials to wind-affected regions

Emergencies Ministry is taking measures to solve the problems caused by recent strong wind in southern regions.
28 February 2007 [16:11]

Health Ministry takes measures against medicine commercials

Health Ministry began to take measures against medicine commercials, the director of Innovation and Supply department of the Ministry Vahid Nagiyev told.
28 February 2007 [16:08]

2007 State Budget to be reconsidered in May

Azerbaijan's state budget for 2007 will be reconsidered in May.
28 February 2007 [14:32]

Heydar Babayev: "Even after accession to WTO, no commercial ties with Armenia"

Azerbaijan Economic Development Ministry has submitted to the Government the draft document on the country's accession to the World Trade Organization, said Minister Heydar Babayev.
28 February 2007 [09:31]

Azeri specialists to contribute to development of power generation in Moldova

Invitation of Azerbaijani specialists to contribute to the power generation development in Moldova is commendable, said Azerenergy Vice-Presidetn Marlen Asgarov.
28 February 2007 [09:22]

Kazakhstan interested in Baku-Tbilisi-Erzurum gas pipeline

Foreign Minster Elmar Mammadyarov met with Kazakhstan's President Nursultan Nazarbayev in Astana.
28 February 2007 [09:14]

Defense Industry Minister visits Romania

Delegation headed by Azerbaijani Defense Industry Minister Yaver Jamalov had a business visit in Romania on Feb 19-25.
28 February 2007 [09:09]

Agenda of Azerbaijan-Latvia intergovernmental commission meeting changed

One more item has been added to the agenda of the first meeting of Azerbaijan-Latvia intergovernmental commission, Extraordinary and Plenipotentiary Ambassador of Latvia to Azerbaijan Mikhail Popkovsk stated.
28 February 2007 [09:06]

IMF mission to leave Azerbaijan

Head of IMF mission for Azerbaijan Vitali Kramarenko is finishing his visit to Azerbaijan.
28 February 2007 [09:05]

Azerbaijan's trade gap with CIS $107m

January, 2007 Azerbaijan enjoyed trade surplus of US $113,689,000 in trade operations with faraway nations and suffered trade gap of $107,268,800 in trade with Commonwealth of Independent States.
28 February 2007 [09:02]

Standard Insurance premium collection climbs 36%

Standard Insurance increased the total collection of premiums 36% during 2006 to AZN 8.34m.
28 February 2007 [08:56]

Modern buildings to stretch along Ganja airport highway

Modern buildings are planned to be constructed along the Ganja airport highway, Ganja Mayor Eldar Azizov stated.
28 February 2007 [07:15]

San Jose State University to qualify human resources for Azerbaijani innovation zones

Azerbaijan's Communications and Information Technologies Minister Ali Abbasov visited the scientific core of Silicon Valley, San Jose State University and inked a memorandum of understanding on cooperation with the university.
27 February 2007 [22:07]

Israel keen on importing Azeri gas

Israel is deeply interested in importing natural gas from Azerbaijan and negotiation between the two countries will start soon, said Economic Development Minister Heydar Babayev.
27 February 2007 [22:04]

Barmek's arbitration request against Economic Development Ministry to be considered in Washington March 28

Washington-based International Centre for Settlement of Investment Disputes (ICSID) will hold a preliminary trial on the arbitration request lodged by Barmek against Azerbaijan's Economic Development Ministry.
27 February 2007 [21:50]

This year real economic growth to surpass forecasted 29.7%

The share of the private sector in gross domestic product generation has reached 81% and the number of legal entities engaged in entrepreneurship exceeded 73,000 in Azerbaijan, Economic Development Minister Heydar Babayev stated.
27 February 2007 [21:46]

Health Minister warns head physicians

Today Azerbaijan's Health Minister Ogtay Shiraliyev chaired a meeting dedicated to problems in the sphere of free and chargeable medical service, distribution of medications to the hospitals and the ways out of the problems.
27 February 2007 [21:43]

Rumors about energy price rise is subversion

"Some forces circulate subversive rumors that energy prices will be re-increased in order to create public tension," said Economic Development Minister Heydar Babayev.
27 February 2007 [21:36]

Japanese, French and Austrian companies offer to create household effluents processing plant in Azerbaijan

Azerbaijan Economic Development Ministry is considering a number of companies' proposals on household effluents processing plant construction project.
27 February 2007 [16:26]

Accounting Chamber finds irregularities in Azerenergy financial statement

Azerbaijan Accounting Chamber found irregularities while auditing industry and construction expenses and Sumgait Power Plant construction expenses in Azerenergy financial statement July 1, 2006.
27 February 2007 [15:29]

Emergencies Ministry prepares measures to protect against natural and man-made disasters

Emergencies Ministry is preparing a plan of measures to address all problems caused by natural and man-made disasters.
27 February 2007 [14:39]

Bakcell customers complain about loss of unused talk units

Customers of Azerbaijan’s Bakcell mobile operator have been complaining about loss of unused pre-paid talk units (credits), saying the units loss has been more frequent recently.
27 February 2007 [09:20]

Azerigas receives 25m cu m of Shah Deniz gas

25m cubic meters of natural gas have to date been delivered to Azerigas, the national grid, from Shah Deniz gas and condensate field after the restart.
27 February 2007 [09:15]

Electricity supply to debtors cut off in Sumgait

Sumgait Electricity Network has begun to cut off electricity supply to debtors yesterday.
27 February 2007 [08:50]

Azerbaijan, US to conclude memorandum on energy cooperation

Azerbaijan and US are expected to conclude a memorandum on energy cooperation.
27 February 2007 [07:55]

2007 energy balance blueprint to be sent to Government

Azerbaijan's draft energy balance for 2007 may be introduced to the Cabinet this week, Industry and Energy Ministry officer Rafig Aliyev stated.
27 February 2007 [07:50]

Baku Circular Road to be commissioned in two years

Baku Circular Road will be commissioned in two years and this will enable trucks and buses to run outside Baku.
27 February 2007 [07:45]

Baku to host Azerbaijan-Iran business forum

Representatives from Iran's companies engaged in oil-chemical, agricultural, transportation and commerce sectors will be visiting Azerbaijan March 27-28.
27 February 2007 [07:40]

Cold weather to bring no gas supply problems

"The cold weather-driven high demand for natural gas is satisfied by underground gasholders in Azerbaijan," said Azerigas Chairman Alikhan Malikov.
27 February 2007 [07:35]

Standard Insurance becomes Open Joint Stock Company

Standard Insurance LLC has changed to Open Joint Stock Company by the decision of shareholders.
27 February 2007 [07:30]

Criminal cases launched on irregularities on public utilities bill payment

4 criminal cases have been launched on irregularities in the organization of cashless payments and collection of bills for public utilities in result of examinations carried out by Office to Combat Corruption in the regions of Sheki, Goranboy, Shamakhi and Salyan.
27 February 2007 [07:20]

Azerbaijan develops social rehabilitation program for people on low income

Azerbaijan Labor and Social Protection Ministry has been drafting Social Rehabilitation Program for families on low incomes, said Minister Fuzuli Alakbarov.
26 February 2007 [21:40]

Iran warns Turkey over natural gas re-export

Iran's oil minister warned Turkey on Sunday not to re-export the Islamic state's natural gas to other countries.
26 February 2007 [19:50]

Azerbaijan to target foreign currency inflow toward expenditures in the same currencies

Azerbaijan's Cabinet has approved of Regulations on Targeting of Budget Revenues in Foreign Currencies toward Expenditures in the Same Currencies.
26 February 2007 [19:04]

Inflationary tendency to go on in March

Inflation rate stood at 6.4% in January and gained 1.3% during the past period of February, said Chairman of State Statistical Committee Arif Valiyev.
26 February 2007 [18:10]

Tel Aviv wishes Azerbaijan to take part in Israel's oil sector

Azerbaijani Economic Development Minister Heydar Babayev visited Israel at invitation last week and met with Israeli Foreign Minister Tzipi Livni and Infrastructure Minister Benjamin Ben-Eliezer and Strategic Affairs Minister Avigdor Lieberman to discuss bilateral relation and development prospects.
26 February 2007 [17:18]

Tutorship leads education in Baku

Today, Azerbaijan is enjoying fast social and economic growth and can afford to finance education so as to ensure that the development flag will be carried out ahead in the future.
26 February 2007 [15:14]

One of the detained Azerigas senior officials has been released

"It is true that senior officials of Azerigas have been detained. But the detention is related to their personal affairs. It has nothing to do with their activity in the company. I must add that one of the detainees, department chief Anar Aliyev has already been released," chief of Azerigas CJSC Alikhan Malikov told, commenting on detention of three officials of the company by Azerbaijan's National Security Ministry with suspicion of their banned religious functioning.
26 February 2007 [14:50]

New GSM operator to come on stream in March

Azerfon LLC, the third GSM operator in Azerbaijan, will come on stream within the first quarter of this year.
26 February 2007 [13:16]

Baku Ring Road to be commissioned in two years

Baku Ring Road will be commissioned in two years and this will enable trucks and buses to run outside Baku.
26 February 2007 [12:28]

State Labor Inspection to examine construction companies

State Labor Inspection is going to examine construction companies in order to study working conditions and labor safety there, SLI chief Nebi Shukurlu stated.
26 February 2007 [11:35]

Daewoo International to export 1,000 buses to Azerbaijan

Kim Yoon-mi writing for the Korea Herald reported that Daewoo International Corp. said yesterday it will export 1,000 buses worth $60 million to Azerbaijan under a contract with the country's state-run transportation company Transgeyt.
25 February 2007 [17:24]

Representatives of CITU international consulting company of Holland to visit Azerbaijan

Representatives of CITU International Consulting Company of Holland will visit Azerbaijan in May-June this year, Education Ministry informs.
25 February 2007 [16:44]

Iran, Azerbaijan keen to expand cooperation in water industry

Iranian and Azeri officials from water sector urged the need for expansion of cooperation in the water industry.
25 February 2007 [13:43]

Moldova, Azerbaijan to set up joint ventures to process agri-food products

Moldova and Azerbaijan will set up joint ventures to process agri-food products, especially meat, milk and grapes.
24 February 2007 [13:47]

Alen Domez: "Azerbaijan can be FATF member after 2009"

"New membership policy of FATF should be reconsidered. Our decisions in this sphere will be implemented only after 2009," Financial Action Task Force on Money Laundering executive secretary Alen Domez stated.
24 February 2007 [13:38]

MONEYVAL plenary session approves assessment report on Azerbaijan

Financial Action Task Force on Money Laundering and MONEYVAL-CE Committee of Experts on the Evaluation of Anti-Money Laundering Measures ended joint assembly.
24 February 2007 [10:30]

Azerbaijan's investment climate to be promoted in Oslo

Azerbaijan Export and Investment Promotion Foundation (AzPromo) intends to organize an investment-promotion conference in Oslo next week.
24 February 2007 [10:25]

Azeri economy continues to grow

According to Azeri State Statistics Committee, foreign investment reached USD 4.6 billion in the country in 2006.
24 February 2007 [10:15]

Moldova to contribute to Azerbaijan's accession to WTO, Vasile Tarlev says

Moldovan Prime Minister Vasile Tarlev met with Caspian Integration Business Club members.
24 February 2007 [10:05]

Trade houses to open in Baku and Kishinev

Moldovan trade house will be opened in Baku and Azerbaijani trade house will be opened in Kishinev, Moldovan Prime Minister Vasile Tarlev told journalists.
24 February 2007 [09:55]

Azerbaijan's ICT Minister to visit US

Azerbaijan's Communications and Information Technologies Minister Ali Abbasov will be visiting the United States on February 27-28 at the invitation of Craig Barrett, chairman of GAID and the board of Intel Corp. and GAID Executive Coordinator Sarbuland Khan.
24 February 2007 [09:40]

Azercell Telecom signs GPRS/MMS roaming deal with Elisa

Azerbaijan's leading mobile operator Azercell Telecom JV concluded GPRS/MMS roaming agreement with two networks of Elisa, a Finish company.
24 February 2007 [09:35]

Price increase in Azeri railways harmful to international transportation, Ministry says

There are proposals to increase transport tariffs in Azerbaijan's railways.
24 February 2007 [09:05]

Japanese government grants $523,614 for 6 projects in Azerbaijan

On the 27th of February the Signing Ceremony of Grant Contracts of six projects within the framework of Grassroots and Human Society Grant Assistance Programme of the Government of Japan will be held at the Residence of the Ambassador of Japan to the Republic of Azerbaijan.
24 February 2007 [09:00]

President Aliyev receives reps of Chevron and Total

Azerbaijan's President Ilham Aliyev has received the delegation headed by deputy chief of Directors' Board of Chevron corporation Peter J. Robertson.
24 February 2007 [08:00]

ITU to consider Azerbaijan's orbiting national communications satellite

By the end of this year, International Telecommunications Union will consider Azerbaijan's appeal to orbit a communications satellite.
24 February 2007 [07:55]

Electricity supply to debtor officials to be cut off

Collection rate for electricity dipped 15-20% following the energy price rise in January, said Deputy Prime Minister Yagub Eyyubov.
24 February 2007 [07:50]

Azerbaijan not to reconsider energy prices, Deputy Premier says

Azerbaijan is not expected to reconsider energy prices as the prices were increased in January, said Deputy Prime Minister Yagub Eyyubov.
24 February 2007 [07:10]

Baku and Sumgait Power Networks not to be under control of foreign companies

Baku and Sumgait Power Networks will not be under control of foreign companies, said Deputy Premier Yagub Eyyubov.
23 February 2007 [18:57]

Boss-Shelf workers quit Labour Union

The administration of Boss-Shelf come will give concrete answer to the demands of the workers that protested yesterday against compensation payments, the workers inform.
23 February 2007 [18:48]

Azerbaijan to reconstruct underground gasholders

Azerigas, State Gas Agency, intends to reconstruct gasholders in the country.
23 February 2007 [15:15]

Baku hosts Azerbaijan-Moldova Business Forum

Friday, Azerbaijan-Moldova Business Forum was held in Baku by Azerbaijani Economic Development Ministry and Azerbaijan Export and Investment promotion Foundation.
23 February 2007 [14:29]

Remittance to Georgia from Azerbaijan beats $2.851mln

During 2006 a total of US $2,851,376 was transferred to Georgia from Azerbaijan, compared to some $2.257mln a year earlier.
23 February 2007 [14:21]

German Ambassador: "Germany won't sign individual energy cooperation agreement with Azerbaijan"

Germany is not going to sign an individual agreement on energy cooperation with Azerbaijan, German Ambassador extraordinary and plenipotentiary to Azerbaijan Per Stankina stated.
23 February 2007 [13:29]

Boeing and Azerbaijan Airlines Finalize Order for 787s and 737s

Boeing (NYSE: BA) and Azerbaijan Airlines have signed an order for three 787-8 Dreamliners and two Next-Generation 737-900ERs (Extended Range).
23 February 2007 [12:49]

Turkey to invite Armenian language specialists from Azerbaijan

Turkish History Organization chief, Professor Yusuf Halachioglu said that Turkish historians will be taught Armenian in order to investigate the Armenian documents in foreign archives.
23 February 2007 [09:20]

Oil climbs above $60 on Iran report

World crude oil prices jumped above $60 per barrel after stronger-than-expected falls to some US energy stockpiles, and as the US expressed disappointment at an apparent failure by Iran to suspend its nuclear programme.
23 February 2007 [08:55]

Trades at BICEX, Feb. 22

The weighted average exchange prices made up 0.8692 AZN for 1 US dollar in the Baku Interbank Currency Exchange on February 22.
23 February 2007 [08:45]

Etibar Pirverdiyev: "Barmek's damage will live for years"

Barmek's damage to Azerbaijani power system will manifest itself in future, the chief of Azerenergy OJSC Etibar Pirverdiyev said.
23 February 2007 [08:35]

New gas well brought online in Guneshli Field

The fourth gas well has been brought online in Guneshli Field.
23 February 2007 [08:05]

President Ilham Aliyev issues on measures for improvement of management in traffic complex

President Ilham Aliyev has issued an executive order on measures for improvement of management in traffic.
23 February 2007 [07:50]

BTK's technical and economic assessment to be complete in May

Yuksel Domanic will have completed technical and economic assessment of the Georgian-part of Baku-Tbilisi-Akhalkalak-Kars railway project in mid May, said Azeri Deputy Minister Musa Panahov.
23 February 2007 [07:45]

Azerbaijan Industry Bank becomes member to VISA International

Azerbaijan Industry Bank has become an associative member of Visa International, the world's leading credit card.