Business

05 March 2008 [09:57]

SOCAR president receives Matthew Bryza

Rovnag Abdullayev, president of the State Oil Company of Azerbaijan, received US deputy assistant secretary of state Matthew Bryza.
04 March 2008 [10:17]

Azerbaijan to be represented in IT exhibition in Germany

Azerbaijan will be represented in CeBIT 2008 international exhibition, devoted to high technologies and computers, to open in Hanover (Germany) on March 4.
04 March 2008 [09:57]

Italy Danieli wins $330 million contract in Azerbaijan

Italian foundry equipment maker Danieli has won a EUR 220 million ($334 million) contract in Azerbaijan, the company said on Monday.
03 March 2008 [10:22]

Trans-Caspian pipeline discussed in Baku, Azerbaijan

Kazakh experts are visiting Baku to discuss an agreement on the Trans-Caspian pipeline.
03 March 2008 [10:17]

Oil and oil products make up 88% of Azerbaijan's export

Crude oil and oil products made up 87.79% of the overall export of Azerbaijan in January of 2006.
03 March 2008 [09:57]

International Monetary Fund satisfied with Azerbaijan's last year economic growth

Azerbaijan’s Minister of Economic Development Heydar Babayev met with the mission of the International Monetary Fund (IMF) visiting Baku.
01 March 2008 [10:06]

Kellogg Brown & Root to construct Trans-Caspian pipeline

KBR, Inc. (Kellogg Brown & Root) has won a tender from the State Oil Company of Azerbaijan (SOCAR) for the Trans-Caspian Project.
29 February 2008 [16:45]

Internet tariffs to fall significantly in Azerbaijan next month

Azerbaijan’s Ministry of Communications and Information Technologies is exploring ways of trimming down prices of internet services in the country.
29 February 2008 [12:34]

Azerbaijan's January external trade turnover makes up $1,120,000,000

Azerbaijan's external trade turnover made up $1,120,000,000 in January of this year.
29 February 2008 [11:14]

1,300,000 tourists per year=148 tourists per hour every day

The number of foreign tourists, visiting Azerbaijan, is rising by 11% every year.
28 February 2008 [16:46]

Program "Corporate social investments" to be presented in Azerbaijan

Confederation of Azerbaijani entrepreneurs in cooperation with the Eurasian Cooperation Fund will hold a presentation on corporate social investments on February 29.
28 February 2008 [15:54]

New State Program for ICT development to be worked out in Azerbaijan

Azerbaijan's Ministry of Communication and Information Technologies started the development of a draft new State program on the development of the information-communication technologies.
28 February 2008 [11:02]

EBRD proposing Azerbaijan to attract foreign banks to market

The European Bank for Reconstruction and Development considers credit interest rates to be too high in Azerbaijan.
27 February 2008 [18:14]

Microsoft announces new General Manager of Microsoft Azerbaijan

Microsoft Corporation has appointed Teymur Akhundov a new General Manager of Microsoft Azerbaijan.
27 February 2008 [16:24]

Azerbaijan set to raise oil output 27%, gas production 64% in 2008

Azerbaijan plans to increase oil production by 27% and natural gas output by 64%, year-on-year, in 2008, the country's president said on Wednesday.
27 February 2008 [15:13]

Azerbaijan to approve Railway Development Program

After discussing with the relevant bodies, the Government of Azerbaijan has submitted the Railway Development Program to head of state for approval.
27 February 2008 [10:37]

EBRD: "Azerbaijan still depends on energy sources"

"Azerbaijan still strongly depends on energy sources".
27 February 2008 [10:28]

EBRD to finance 18 projects in private sector of Azerbaijan in 2008

The European Bank for reconstruction and development is ready to allocate $140,000,000-180,000,000 for 18 projects in the private sector of Azerbaijan in 2008.
26 February 2008 [15:47]

Azerbaijan will launch DVB-T standard digital transmission in late 2008

Teleradio Director Aflatun Sharifov told APA-Economics that new equipment and transmitters will be installed in Baku and Gandja to support digital transmission.
26 February 2008 [13:37]

Rovnag Abdullayev: "Tariffs on gas sold by Azerbaijan will be regulated in line with world standards"

Azerbaijan will review tariffs on gas sold to neighbor countries.
26 February 2008 [11:53]

USA leading on export transactions with Azerbaijan

The United States became Azerbaijan's first partner on export in January of 2008.
26 February 2008 [11:19]

SOCAR President receives representative of US Department of State

SOCAR president Rovnag Abdullayev received Steven Mann, coordinator of US Department of State on Eurasian energy issues, on Monday.
25 February 2008 [18:27]

Azerbaijan's monetary reserves go down

The volume of official monetary reserves of the National Bank of Azerbaijan made up $3,923,600,000 as of February 1 of 2008 which is a 98.9% rise as compared to February 1 of 2007.
25 February 2008 [17:55]

Azerbaijan, Russia sign new electricity deal

Russia’s Inter RAO EES and Azerbaijan’s AzerEnerji have completed negotiations on electricity and signed an agreement.
25 February 2008 [14:22]

Alovsat Aliyev: "Assets earned by our labor migrants abroad make up 70% of family budget of Azerbaijani residents of rural areas"

The outflow of migrants from Azerbaijan has not weakened lately.
25 February 2008 [13:03]

Session of Japan-Azerbaijan intergovernmental commission to be held in Tokyo

The fifth session of the Japan-Azerbaijan intergovernmental economic commission will be held in Tokyo o February 26.
25 February 2008 [11:04]

Azerbaijan to take part in Georgian railroad privatization

The Azerbaijani government intends to participate in the privatization of Georgian railroad.
25 February 2008 [10:51]

Has wanted Russian oligarch bought oil fields in Azerbaijan?

A company, connected with Mikhail Gutseriyev, has bought Azerbaijani fields.
23 February 2008 [11:10]

Ali Abbasov: "Azerbaijan's three mobile operators have been offered frequencies for third generation services"

All of the three GSM mobile operators in Azerbaijan were proposed frequencies for provision of third generation services to their customers.
23 February 2008 [10:30]

Fifth international AutoShow to be held in Baku

The fifth Azerbaijan International AutoShow-2008 will be held in Baku on March 13 to 16.
22 February 2008 [18:06]

Head of the State Customs Committee: "Import of Armenian production to Azerbaijan is prevented opportunely"

Import of Armenian production to Azerbaijan including coffee, has not only trade but also political grounds.
22 February 2008 [16:21]

Italy plans to hold talks on gas supplies with Azerbaijan

Italian Edison SpA intends to hold talks with Azerbaijan to launch project of pipeline Greece -Italy.
22 February 2008 [12:11]

Baku hosts Azerbaijani-Iranian business-forum

The need to intensify Iranian-Azerbaijani economic relations was stressed at a session of the Azerbaijani-Iranian business-forum held under the auspices of AZPROMO.
22 February 2008 [11:08]

Delegation of Azerbaijan takes part in tourism exhibition in Japan

An event on tourism in Central Asia and the Caucasus was held by initiative of Japanese Ministry of Foreign Affairs in Tokyo on February 6-13.
22 February 2008 [10:36]

Investments into first private electric station in Azerbaijan to make up EUR 523,000,000

The South Korean energy company KEPCO estimates the volume of investments into the construction of the first private electric station in Alyaty at AZN 640,000,000 or EUR 523,000,000.
22 February 2008 [10:08]

Nabucco Managing Director: "Azerbaijan will be the first country to pump gas into Nabucco Pipeline"

Azerbaijan is expected to be the first country to pump natural gas into to the Nabucco pipeline which will deliver “blue fuel” from the Caspian Sea to Europe, eroding the continent’s dependence on Russia.
21 February 2008 [18:01]

Mobile communication accounting for 72.6% of incomes in Azerbaijan's communication sector

The communication enterprises of Azerbaijan rendered services in the amount of AZN 56,100,000 in January of 2008.
21 February 2008 [17:51]

Azerbaijani-Iranian business-forum to be held in Baku

The Azerbaijani-Iranian business-forum will be held in Baku tomorrow.
21 February 2008 [15:06]

Mobile communication tariffs likely to be reduced in Azerbaijan

The average cost of mobile services in Azerbaijan does not exceed the average indicator on other CIS countries.
21 February 2008 [15:04]

Ali Abbasov: "Tariffs on international and intercity calls in Azerbaijan have been reduced by almost 2 times through 4 years"

The Azerbaijan Tariff Council has received proposals on reduction of the cost of intercity and international calls twice through the last four years, and took them into account.
21 February 2008 [12:21]

Azerbaijan's governmental delegation to leave for Japan

Iltimas Mamedov, Azerbaijan's deputy minister of communications and information technologies, will pay a visit to Japan capital city Tokyo.
20 February 2008 [15:34]

SOCAR receives credit of $500,000,000

The State Oil Company of Azerbaijan has received an unsecured credit in the amount of $500,000,000 for the term of 3 years.
20 February 2008 [14:57]

Are AZAL assets sold to private structures?

The stock and commercial Azal Bank has changed its brand for Bank Silk Way.
20 February 2008 [13:53]

Azerbaijan's National Bank licenses Citibank for opening representative office in Baku

The National Bank of Azerbaijan has issued a license for opening of a representative office of Turkish Citibank Anonim Shirketi in the country.
20 February 2008 [10:35]

EBRD: "Azerbaijan's 2008 inflation rate to make up 16%"

The European Bank for Reconstruction and Development forecasts inflation rate to make up 16% in 2008.
20 February 2008 [10:18]

President of Azerbaijan ends his visit to Hungary - UPDATED

A business forum has today brought together businesspeople and officials from Azerbaijan and Hungary within the framework of Azerbaijani President Ilham Aliyev’s official visit to Budapest.
20 February 2008 [10:09]

Azerbaijan ready to commence industrial gold production

Azerbaijan International Mining Operating Company plans to produce gold in Gosha Field in spring next year.
19 February 2008 [16:59]

Azerbaijan prepares a project to reconstruct old bridges in Baku

Azerbaijan plans to start reconstruction of old bridges in Baku this year.
19 February 2008 [10:10]

Iran imports gas from Azerbaijan to meet shortage

Iran has begun importing 1 million cubic metres of natural gas per day from Azerbaijan, an Iranian news agency said on Monday, in an apparent move to help compensate for shortages caused by a cut in Turkmen deliveries.
18 February 2008 [18:43]

Further development of Azerbaijani-Estonian venture fund to be determined soon

The Azerbaijan Investment Company is waiting for proposals of the Estonian Caspian Group and Investment bank GILD regarding further activity of the joint venture fund.
18 February 2008 [18:21]

1783 expatriates engaged in Azerbaijan's economic sector

Azerbaijan recorded 1783 expatriates, engaged in its economic sector, as of January 1 of 2008.
18 February 2008 [18:15]

Representatives of Russian energy company to arrive in Azerbaijan

Representatives of Russian Inter RAO EEC will arrive in Azerbaijan to hold talks on electric power sale and purchase on February 21.
18 February 2008 [17:50]

Oil refinery complex creation depending on governments' decision in Azerbaijan

The Azerbaijan Investment Company has introduced results of surveys on the project of oil refinery, carried out by the Allied Investment Company, to the government.
18 February 2008 [17:33]

Kuwait financial house invests first $15,000,000 to project of investment fund creation with AIC

The observation council of the Kuwait financial house made a decision on allocation of first investments of $15,000,000 into the project of creation of an investment fund, with the Azerbaijan Investment Company.
18 February 2008 [12:06]

Transparency International holds regular anti-corruption trainings in Azerbaijan

The Azerbaijani representation of Transparency International held trainings against corruption in Baku, Ganja, Lenkoran, Guba and Sheki on February 11 and 16.
16 February 2008 [15:37]

Gubad Ibadoglu: "Construction of non-production mega-establishments causes increase of inflation rate"

The activity of the Azerbaijani government aims at encouraging inflation rate rather than curbing it.
16 February 2008 [13:59]

SOCAR said to hide part of its revenues

The State Oil Company of Azerbaijan lends its ships to foreign companies, operating in the Caspian Sea.
16 February 2008 [10:55]

Havana Cigars House to open in Baku

Havana Cigars House will open in Baku in April-May, Kaballero Torres, Cuban charg? d’affaires in Azerbaijan said, APA reports.
16 February 2008 [10:34]

Euronews to feature Azerbaijan's tourism potential

The government of Azerbaijan will allocate funds for featuring its tourism potential on Euronews, according to country’s Minister of Culture and Tourism.
16 February 2008 [10:28]

$130,000,000 to be raised for Sangachal-Garadagh oil and gas terminal construction in Azerbaijan

The Azerbaijan Investment Company (AIC) and Kavkaztransservis (member of Azersun Holding group) have launched talks with foreign banks to raise additional credits for construction of the Sangachal-Garadagh oil and gas terminal.
15 February 2008 [18:57]

Azerbaijan introduces draft resolution to support EITI to UN Secretariat

Azerbaijan has introduced a draft resolution, support Extractive Industries Transparency Initiative (EITI) to the UN Secretariat.
15 February 2008 [15:18]

Manual on combat with corruption to be applied to country's educational system prepared in Azerbaijan

Project "Anti-corruption enlightenment and virtual center of consultations" is being implemented by the Fund of Combat with Corruption in 12 regions of Azerbaijan.
15 February 2008 [14:39]

Direct air flight Amman-Baku likely to be established

Royal Jordan delegation will hold regular discussions on establishment of direct air flights Amman-Baku in Baku.
15 February 2008 [13:25]

Eyub Guseynov: "To root out corruption it is necessary to form a consumer policy in Azerbaijan"

"If we want to reduce corruption to minimum, we should undertake due steps".
15 February 2008 [13:10]

Iran to purchase natural gas from Azerbaijan

Iran plans to import natural gas from Azerbaijan, country’s ambassador to Azerbaijan Nasir Hamidi Zare told APA.
15 February 2008 [12:31]

Azerbaijan to neutralize its gas debt to Georgia

We will start exportation of 10,000,000 cubic meters of gas to Georgia in the near future.
15 February 2008 [11:58]

Heydar Babayev: "Azerbaijan's demand of cement will rise by 3,000,000 tons in the next 3 years"

Azerbaijan's Ministry of Economic development forecasts Azerbaijan's demand for cement to rise by 3,000,000 tons from the current 4,000,000 in the next three years.