Business

15 March 2007 [09:01]

US Supports Development of Real Estate Registry System in Azerbaijan

March 15, 2007 USAID SME Support through Financial Sector Development Project implemented by ACDI/VOCA will sign a Memorandum of Understanding with the Azerbaijan State Real Estate Registry Service.
15 March 2007 [08:51]

Legal procedure on two Barmek officials' appeals held

The legal procedure on the appeals of two former officials of Barmek-Azerbaijan Electricity Distribution LLC was held on Wednesday.
15 March 2007 [08:43]

Ring Road in Black Sea region to be built

A Ring Road covering the Black Sea basin will be constructed in the nearest future, said Azeri Deputy Minister of Transport Musa Panahov.
15 March 2007 [08:42]

World Bank supports E-Government Project in Azerbaijan

Azerbaijan intends to seek the World Bank's assistance in implementation of e-government project, said Azerbaijan's Information and Technologies Minister Ali Abbasov.
15 March 2007 [08:40]

Azercell Telecom inks roaming deal with France Telecom Espana S.A

Azerbaijan's leading mobile operator Azercell Telecom JV has signed a roaming agreement with France Telecom Espana S.A (3G 2100).
15 March 2007 [08:30]

Abulfas Garayev: "Measures can be taken in Hajikand after being sure Armenians will not violate ceasefire"

"Measures can be taken on developing tourism in Hajikand after being sure that Armenians will not violate the ceasefire. It is not expedient to take measures there at present," Culture and Tourism Minister of Azerbaijan Abulfas Garayev told journalists.
14 March 2007 [21:46]

More Baku-Nakhchivan flights on Novruz holiday

Azerbaijan Airlines State Company will increase the number of Baku-Nakhchivan flights on the national holiday Novruz.
14 March 2007 [21:44]

Health Ministry closes Farm Invest company and one more drug store

Azerbaijan's Health Ministry has closed Farm Invest company engaged in import of medications and wholesale trade due to functioning in unsanitary conditions.
14 March 2007 [21:39]

Mingechevir-Tbilisi-Akhaltsikhe-Kars power line work to be activated

The work on construction of a 500-KV power line linking Azerbaijan, Turkey, and Georgia will be activated in the nearest future.
14 March 2007 [21:37]

EBRD acquire a 33.3% equity stake in UniLeasing

With an agreement to acquire a 33.3%-equity stake in and to provide a $3 million loan to UniLeasing, the EBRD is signing its first transactions in Azerbaijan's leasing sector. The project will strengthen the leasing company with strong potential in a rapidly growing market.
14 March 2007 [17:48]

Azerkimya to be on stream in a few days

The subsidiaries of Azerkimya state-owned chemicals maker will be brought on stream in a few days, Member of Parliament Ikram Israfilov told.
14 March 2007 [17:31]

World Bank to consider Azerbaijan Real Estate Registry Project

March 21, the World Bank Board of Directors will have discussion over financing Azerbaijan Real Estate Registry Project.
14 March 2007 [15:42]

Russia doesn't mind Azerbaijan’s pulling its broadcasters off the air

Russia's ORT and RTR have applied Azerbaijan to renew the agreement for continuation of broadcasts to this country.
14 March 2007 [15:29]

Azerbaijan finishes drafting Railway Infrastructure Development Program

The work on the Development Program for Railway Infrastructure for 2007-2010 has continued to progress and is almost complete.
14 March 2007 [15:16]

Belarus tractors will be assembled in Ganja automobile plant this month

"Spare parts have been brought for assembling Belarus tractors in Ganja Automobile plant. We consider that first tractors will be assembled in March and automobiles MAZ in April," Belarus ambassador to Azerbaijan Nikolay Paskevich said.
14 March 2007 [14:02]

Number of trains to be reduced in Baku Metro in Novruz Holiday

Baku Metro will work on special schedule on the eve of the national holiday Novruz.
14 March 2007 [13:38]

AutoShow Azerbaijan kicks off in Baku

The fourth Azerbaijan International Automotive Exhibition-AutoShow Azerbaijan-2007 has kicked off in Heydar Aliyev Sport and Exhibition Complex.
14 March 2007 [13:25]

EU supports Nabucco project planning gas transportation from Azerbaijan to Europe

Romania is interested in the implementation of the Nabucco project, which will transport Azerbaijan's gas to Europe, said Romania's Prime Minister Calin Popescu-Tariceanu.
14 March 2007 [13:24]

GUAM Transport Working Group meets in Baku

The meeting of GUAM Organization for Democracy and Development's Transport Workgroup has kicked off in Baku, bringing together representatives from the relevant bodies of the member states (Georgia, Ukraine, Azerbaijan and Moldova) to discuss expansion of cooperation in transportation.
14 March 2007 [12:06]

Russia, Greece and Bulgaria to sign Balkan oil deal

Russian President Vladimir Putin was on Wednesday scheduled to travel to Athens where he was to sign the following day a long-delayed Balkan oil pipeline deal with Greece and Bulgaria which will carry Russian oil to the Mediterranean.
14 March 2007 [10:03]

Caspian Oil&Gas 2007 to be organized in Baku in early June

Annual exhibition "Caspian Oil&Gas 2007" will be organized in Baku on June 5-8.
14 March 2007 [08:30]

Azerbaijan Property Agency brings together heads of enterprises

Azerbaijan State Committee for Public Property Management brought together heads of small and medium-size enterprises to discuss a number of issues on privatization, efficient use of the public property, improvement of the legislation and other problems.
14 March 2007 [08:29]

Baku to host the first meeting of GUAM Transport Coordination Council

Baku will host the first meeting of the Transport Coordination Council of the Guam (Georgia, Ukraine, Azerbaijan and Moldova) on March 14.
14 March 2007 [08:28]

AGBank raises its asset 49%

As of January 1, OJC AGBank increased its assets 48.9% during last year to AZN 97.3m.
14 March 2007 [08:14]

NBA announced contest for purchase of computers server, network and office appliances

The National Bank of Azerbaijan has announced a competition for purchase of computer, server, network and office appliances.
14 March 2007 [08:13]

Water supply and sewerage system of Ganja and Sheki to be reconstructed

The water supply and sewerage system of Ganja and Sheki will be reconstructed in the framework of the project supported by German and Swiss governments in conjunction with Azerbaijan's government.
14 March 2007 [08:00]

BSE holds placement of Technikabank's bonds

As from March 13, Baku Stock Exchange has begun to hold the placement of Technikabank’s two issues of interest-bearing book-entry bonds.
14 March 2007 [07:59]

Babayev meets with U.S. ambassador

Azerbaijan's Economic Development Minister Heydar Babayev briefed U.S. ambassador to Azerbaijan Anne Derse about preparatory activities for Azerbaijan's accession to the World Trade Organization, recalling that USTDA and Azerbaijan inked a technical assistance grant agreement in 2002 to support Azerbaijan's WTO accession efforts.
14 March 2007 [07:53]

Yerevan critical of US ban on Jermuk mineral water

Yerevan regards the U.S. sanitary authorities' decision to bar the Armenian mineral water Jermuk from U.S. market as "anti-Armenian designs" and "encroachment on the Armenian prestige".
14 March 2007 [07:46]

Remittance to Georgia from Azerbaijan reaches $87,000

During January a total of US $87,000 was transferred to Georgia from Azerbaijan, while Azerbaijan received $261,000 in remittance from this country.
13 March 2007 [23:15]

Azerkimya to return on stream Wednesday

Azerbaijan's Prime Minster Artur Rasizade convened a meeting to discuss the problems made Azerkimya state-owned chemicals maker to shut down.
13 March 2007 [23:03]

AutoShow Azerbaijan starts Wednesday

The Iteca Caspian will hold the fourth Azerbaijan International Automotive Exhibition-AutoShow Azerbaijan-2007 in Heydar Aliyev Sport and Exhibition Complex on March 14-17.
13 March 2007 [22:22]

Road bridge and pedestrian tunnel to be commissioned March 20

Official opening ceremony of a road bridge in the 20 Yanvar Circle and a tunnel in Shamakhinka will be held on March 20.
13 March 2007 [16:06]

ITU accepts Azerbaijan's satellite launch bid

The international Telecommunication Union has accepted Azerbaijan's bid for launching its own satellite.
13 March 2007 [16:00]

Azerbaijan's investment climate promoted in Vienna

Azerbaijan Export and Investment Promotion Foundation (AzPromo), Azerbaijan's Embassy in Austria (also accredited in Slovakia) organized an investment-promotion workshop in Vienna.
13 March 2007 [15:36]

Azerbaijan to develop chemical industry

Azerkimya state-owned chemicals maker is drafting proposals on application of new technology and acceleration of chemical industry development in the country.
13 March 2007 [14:46]

Financial frauds found in Azerkimya

Finance Ministry found waste of AZN 78.9m in the state budget-funded organizations during 2006, five times higher than a year earlier.
13 March 2007 [13:38]

Government not to allow bread prices' raising

"At present rise of prices for grain is natural case. Because every year when the grain is collected the price is cheap, but later it becomes expensive. The price for grain will not rise after it," official of Azerbaijan's Agriculture Ministry Mammad Huseynov told.
13 March 2007 [10:07]

SECO to give $5m technical assistance to Azerbaijan

Swiss State Secretariat for Economic Affairs (SECO) plans to allocate $5m technical assistance to projects being implemented in Azerbaijan.
13 March 2007 [10:03]

Georgian investors interested in Azerbaijan's economy

Georgian Prime Minster Zurab Nogaideli announced overall support to the Caspian Integration Business Club (CIBC) during a meeting with the delegation from CIBC and "Caspian Energy" International Publishing House on March 9 in Tbilisi.
13 March 2007 [09:53]

Azerbaijan, Russia, Kazakhstan check up the Caspian

Monday, Aktau hosted the meeting bringing together the heads of Azerbaijani and Russian Accounting Chambers and Kazakh Audit Committee to discuss use the bioresources, protection, rearing and efficient use of sturgeon and marine stocks.
13 March 2007 [09:38]

Baku-Tbilisi-Akhalkalaki-Kars railway will contribute to the development of Azerbaijan-Bulgaria relations, Azeri envoy says

Elman Zeynalov, Ambassador of Azerbaijan to Bulgaria, said "Baku-Tbilisi-Akhalkalaki-Kars railway will contribute to the development of Azerbaijan-Bulgaria relations".
13 March 2007 [09:32]

Azercell Telecom launches reactivation campaign for prepaid subscribers

The subscribers with double-sided closed lines gain an opportunity of reactivating their lines.
13 March 2007 [09:31]

Government to discuss suspending enterprises of Azerkimya State Company

Government plans to discuss suspending all main and subsidiary enterprises of Azerkimya State Company, Deputy Head of Sumgayit Executive Power Akif Zeynalov said.
13 March 2007 [09:30]

No interruptions in gas supply on holidays in Azerbaijan

There will be no interruptions in natural gas supply in Azerbaijan during holidays.
13 March 2007 [09:29]

SOCAR, PTT Public Co Ltd ink one-year agreement

Azerbaijan State Oil Company (SOCAR) and Thailand's PTT Public Co Ltd have signed a one-year agreement for exportation of crude oil of Azerbaijan.
13 March 2007 [09:28]

Khalg Insurance to launch branches in Sumgait and Zagatala

Khalg Insurance plans to open a branch in Sumgait in the first half of the year.
13 March 2007 [09:27]

New telecommunication line to be constructed between Georgia and Azerbaijan

New telecommunication line is being constructed for amplifying communication between Georgia and Azerbaijan.
13 March 2007 [09:26]

Turkmen gas resources transportation to Europe through Azerbaijan being discussed

The delegation for Consortium established with the participation of Mott McDonald (Great Britain), CNTOR Management Consultant (Greece) and ASPI Consulting Engineers (Azerbaijan) left for Ashgabat to discuss issues on transportation of Turkmen gas to Europe through Azerbaijan territory. The visit will end on March, 15.
13 March 2007 [09:25]

Azer-Turk Bank to launch three regional branches

Azer-Turk Bank intends to open its first branch in Ganja during the first half of the year.
13 March 2007 [09:20]

Azerbaijan is microfinance pilot of South Caucasus

Consultative Group to Assist the Poorest awarded two financial institutions of Azerbaijan in 2006.
13 March 2007 [09:19]

New trade centre opens in Ganja

The opening ceremony of Nahang Dash trade center built in 6 hectare area in 'Yeni Ganja' was held in Ganja.
12 March 2007 [23:32]

Azerbaijan, Russia, Kazakhstan check up the Caspian

Monday, Aktau hosted the meeting bringing together the heads of Azerbaijani and Russian Accounting Chambers and Kazakh Audit Committee to discuss use the bioresources, protection, rearing and efficient use of sturgeon and marine stocks.
12 March 2007 [23:25]

Azerkimya not shut down because of electricity cut-off

Azerbaijan's State-owned chemicals maker owes a great amount of electricity bill to Sumgait Electricity Networks and won't pay off despite regular warnings, the SEN spokesman Mubariz Zeynalov stated.
12 March 2007 [22:54]

IFC to open $5m credit line to Bank Respublika

IFC inked an agreement with Azerbaijan's Bank Respublika to open a $5m credit line on-lending to small and medium-sized enterprises.
12 March 2007 [22:29]

Power outage hits Baku

Monday, power outage struck districts of Sabayel and Nasimi in Baku following the power grid failure in afternoon.
12 March 2007 [14:40]

Azerbaijan experiments electronic tax declaration

Azerbaijan's Taxes Ministry has started to receive tax declarations on trial.
12 March 2007 [13:53]

Baku to host international rating conference

In April Azerbaijan Microfinance Association will host an international conference, bringing together about 20 microfinance organizations, as well as government and bank representatives to discuss rating services.
12 March 2007 [10:26]

Free Consumers' Union appeals to Mayor's Office for picket

Free Consumers' Union appealed to Baku Mayor's Office for picket on March 15 on the occasion of World Consumers Day.
10 March 2007 [15:46]

Russian police search PricewaterhouseCoopers' office in tax probe

Russian police have searched the Moscow office of the international auditing company PricewaterhouseCoopers.
10 March 2007 [14:55]

US bans Armenian mineral waters

The U.S. Food and Medicine Agency has banned the sale of 'Jermuk' mineral water produced in Armenia.
10 March 2007 [14:52]

Azercell offers scratch card in amount 5 AZN

Azercell Telecom offered for SimSim, GenjSim and BizdenBize subscribers the scratch card in the amount of 5 AZN.
10 March 2007 [14:37]

Oil products mostly sold in Baku in February

Most of oil products were sold in Baku within February, the least indicator recorded in Horadiz settlement of Fuzuli region of Azerbaijan.
10 March 2007 [11:19]

Parex Leasing & Factoring elevates investments fivefold

Latvia's Parex Leasing & Factoring increased investments in Azerbaijan by fivefold in February to $5,030,022.
10 March 2007 [11:17]

EBRD to hold annual meeting in Kazan

March 13-14 the EBRD will host a conference bringing together the heads of Multilateral Development Banks, high-ranking government officials and senior corporate executives who will discuss concrete initiatives to combat climate change in a partnership between the public and private sectors.
10 March 2007 [11:13]

Azerbaijan to insure foreign employees in oil sector

Azerbaijan Social Protection Fund is negotiating with BP and other oil companies operating in the country on provision of social insurance for foreign employees.
10 March 2007 [11:10]

30,000 hectares polluted in Absheron Peninsula

Some 30,000 hectares of territory were polluted in Absheron Peninsula, Azeri land and Cartography Committee Chairman Garib Mammadov said.
10 March 2007 [11:08]

Tural Sigorta to increase its authorized capital

Azerbaijan Tural Sigorta Insurance Company intends to boost its authorized capital 7.1% to AZN 750,000 by the end of this year.
10 March 2007 [11:06]

Rovnag Abdullayev says no restrictions on gas supply to population

No restrictions on gas supply to population were set forth in the Azerbaijan's energy balance for 2007.
10 March 2007 [11:01]

Deals of $1.87m closed at BICEX

The weighted average exchange price made up 0.8682 AZN/USD at trading sessions on the Baku Interbank Currency Exchange.
10 March 2007 [10:57]

601.42mln cu m of gas delivered to Azerigas in February

601.42mln cubic meters of gas were delivered to Azerigas against the planned 547.31mln cubic meters in February, 2007.
10 March 2007 [10:56]

Uraltrubmash shows interest in Azeri market

Uraltrubmash shows great interest in Azerbaijan's market.
10 March 2007 [10:27]

Azauto to present new vehicles at AutoShow Azerbaijan-2007

AzAuto, official importer of Isuzu vehicles in Azerbaijan will present Turkish-made RoyBus and Japanese-made CYZ-51K dump trucks at the fourth Azerbaijan International Automotive Exhibition-AutoShow Azerbaijan-2007.
10 March 2007 [10:19]

Proposals to create Innovation Zones to be sent to Parliament in April

Booz Allen Hamilton consulting firm will submit the package of proposals on Regional Innovation Zones Establishment Project to the Ministry of Communications and Information Technologies in late March.