Business

23 March 2007 [02:59]

GIOGIE 2007 opens in Tbilisi

6th Georgian International Oil, Gas, Energy and Infrastructure Conference has been launched at the hotel Sheraton Metechi Palace to energy-economic issues.
22 March 2007 [23:40]

Turkey/Israel pipeline could shift Middle East power balance

Although regional pipelines rarely are recognized as progenitors of global power balance, the prospective agreement between Turkey and Israel to construct such a strategic connection may accomplish a seismic economic shift.
22 March 2007 [23:23]

Poland wants energy corridor from Caspian

Polish President Lech Kaczynski's visit to Azerbaijan and Kazakhstan is expected to focus on the building of a crude oil transportation corridor from the Caspian Sea.
22 March 2007 [01:28]

Georgian parliament committee approves Baku-Tbilisi-Akhalkalaki-Kars railway deal

Georgian Parliament's Foreign Relations Committee has approved the agreement on Baku-Tbilisi-Akhalkalaki-Kars railway project.
21 March 2007 [14:39]

First train to cover Baku-Akhalkalaki-Kars railroad in May 2010

The first ever train will cover the Baku-Akhalkalaki-Kars in May 2010, Director General of the Georgian Railways Irakly Ezugbaya said at the meeting of the Georgian parliamentary committee for external relations.
21 March 2007 [13:45]

Georgia sees higher growth, foreign investment in 2007

Georgia weathered Russia's economic embargo last year and expects foreign investment and growth to pick up in 2007 on the back of reforms, Economy Minister George Arveladze said on Tuesday.
21 March 2007 [13:30]

Deputy FM: "Buying gas directly from Turkmenistan rather than via Russia will strengthen EU's energy security"

Azerbaijan has urged EU to buy gas from Turkmenistan despite the decision to halt any trading relations with that country because of the right violation there.
20 March 2007 [22:09]

Azerfon LLC joins USACC as regular member

Azerfon, LLC was licensed by the Ministry of Communications and Information Technologies of Azerbaijan in December, 2005 to provide mobile services throughout the territory of Azerbaijan.
20 March 2007 [21:56]

Azerbaijan's new GSM operator Azerfon (Nar Mobile) comes on stream

Azerfon LLC Director General John Armley told a press conference that the new operator has set up necessary infrastructure and installed the required equipment.
20 March 2007 [10:29]

Azerbaijan to increase gas exports to Georgia, Nika Gilauri says

Azerbaijan is going to increase natural gas exports to Georgia, said the country's energy minister Nika Gilauri during his visit to Jandara settlement where Baku-Tbilisi-Erzurum pipeline joins Georgia’s gas distribution grid.
20 March 2007 [10:28]

Credit investments in Azeri economy grew 81%

As of February 1, the amount of loans invested in the economy of Azerbaijan reached AZN 2,493.4m, up 80.6% from a year earlier.
20 March 2007 [10:28]

50 applicants pass tax bodies recruitment exam Stage I

Azerbaijan Student Admission Commission has released the results of the tax bodies employment examination.
20 March 2007 [10:27]

Tbilisi to host energy infrastructure conference

The sixth international energy infrastructure conference will be held in Tbilisi on March 22-23.
20 March 2007 [10:26]

SOCAR plans to purify polluted territories

Azerbaijan's State Oil Company (SOCAR) intends to purify the oil-polluted territories in Bibiheybat.
20 March 2007 [10:25]

Azerbaijan announces contest for Azeri Light and REBCO crude export

Azerbaijan's State Oil Company (SOCAR) has announced two competitions for exportation of Azeri Light and REBCO crude oil.
20 March 2007 [10:24]

Energy prices increase pushes up communications expenses by AZN 2.5mln in Azerbaijan

Energy prices hike pushed up the expenses by approx. AZN 2mln to 2.5mln in the communications sectors, said Azerbaijan's Communications and Information Technologies Minister Ali Abbasov.
20 March 2007 [10:21]

Turkish-American economic relations and the Armenian issue

"The Sultan expressed his sympathy with the government of the United States for the troubles in which it is involved, and the hope that the war would soon terminate with maintenance of the American Union in all its original power and integrity with the restoration of peace and concord among the American people. I am happy in thus being able to report to you that the United States has a true and loyal friend in the sovereign of this great empire."
20 March 2007 [10:04]

AzAL to launch Baku-Saint Petersburg flight from March 25

Azerbaijan Airlines (AzAL) will operate flights between Baku-St. Petersburg with a-319 airbus from March 25.
20 March 2007 [10:03]

Nation's gross incomes advance 33% in Jan-Feb

During the period of January and February, Azerbaijani population’s pre-tax earnings rose 33%, year-on-year, to AZN 1,825.7mln.
20 March 2007 [10:02]

Bank savings soar 63% in Azerbaijan

As of February 1, the savings put with Azeri banks by people amounted to AZN 805.4mln, up 63% from the same period last year.
20 March 2007 [09:55]

Azerbaijan enjoys 4.4% agricultural growth

As of March 1, despite unfavorable weather 30,800 hectares have been planted for spring sowing in Azerbaijan, up 10.3% from a year earlier.
20 March 2007 [09:54]

Gas supply to defaulters not to be cut off on holidays

Gas supply to the debtor defaulting customers will not be cut off in Azerbaijan during the nonworking days for Novruz.
20 March 2007 [09:52]

World Bank health mission to visit Baku

The World Bank Senior Public Health Specialist Enis Baris will lead a health mission to Azerbaijan on March 26.
19 March 2007 [22:58]

Trades at BICEX, March 19

The weighted average exchange prices made up 0,8675 AZN for 1 US dollar in the Baku Interbank Currency Exchange on March 19.
19 March 2007 [22:49]

Matthew Bryza comments on Mammadyarov-Rice memorandum

"MoU on Energy Cooperation to be signed between Azerbaijan's Foreign Minister Elmar Mammadyarov and Secretary of State Condoleezza Rice on March 22 supports construction of 'new generation' pipelines for transporting energy resources, especially natural gas of the region to Europe," said Deputy Assistant Secretary of State Matthew Bryza.
19 March 2007 [17:42]

Ganja Auto Plant to assemble MAZ trucks

Belarus ambassador to Azerbaijan Nikolay Patskevich visited Ganja Auto Plant and concerned himself with the production lines of the plant.
19 March 2007 [17:35]

Azerbaijan's Jan-Feb GDP grew 41.7%

Azerbaijan's GDP grew 41.7%, or AZN 950mln, year on year, in January and February, to AZN 3,273mln.
19 March 2007 [16:55]

Azerbaijan to complete transition to electronic telephone exchange next year

Azerbaijan intends to complete full transition to electronic telephone switch system by the end of 2008, said Communications and Information Technologies Minister Ali Abbasov, adding that the process is currently 72% complete.
19 March 2007 [16:40]

Turkish opposition demands investigating financial sources of Turkish educational institutions abroad

Turkey's main opposition CHP party prepared a report on some private educational institutions operating in different parts of the world through financial support from Turkey.
19 March 2007 [15:56]

Auto imports to Azerbaijan fell 25% due to excise tax

The number of automobile imports to Azerbaijan has started to decline since the excise tax on imports effective January 1.
19 March 2007 [15:51]

Azerbaijan to explore prospective fields

State Oil Company intends to carry out exploration works in some fields.
19 March 2007 [14:57]

Azerbaijan to dismantle old offshore platforms

State Oil Company (SOCAR) intends to dismantle old offshore platforms.
19 March 2007 [14:50]

President Aliyev attends opening of new intersections

President Ilham Aliyev attend the opening of different intersections constructed in "20 January" circle in the crossroad of Tbilisi avenue and Hasan Zardabi street in the capital Baku.
19 March 2007 [14:34]

Gas-OPEC to come on stream in April

The biggest gas exporting nations will come together in Doha 0n April 9 to roll out a so-called gas-OPEC -gas exporting countries organization, after reaching a final agreement a week earlier.
19 March 2007 [14:25]

Preliminary trial on case of Barmek officials postponed

Preliminary court proceeding on case of president of Barmek Azerbaijan Electricity Distribution LLC Huseyn Arabul and seven more company officials, who are accused of abuse of power, embezzlement and negligence of court judgements, was held today.
19 March 2007 [12:07]

Azeri, Iranian, Russian railroaders to meet in April

In April Azerbaijani, Iranian and Russian railroaders will have a trilateral meeting on North-South Transport Corridor in Baku.
19 March 2007 [11:19]

Moscow Attempts to Win More Cooperating Attitude of Kazakhstan

For Kazakhstan's President Nursultan Nazarbaev, the current two-day visit to Russia won't be easy.
19 March 2007 [09:25]

Armenia-Iran gas pipeline to open

Iranian President Mahmoud Ahmadinejad and his Armenian counterpart will formally open the first stretch of a natural gas pipeline Monday in Armenia, that relies on Russia for most of its gas.
17 March 2007 [16:14]

Road Bridge in 20 Yanavar Circle to be commissioned March 19

Official opening ceremony of a road bridge in the 20 Yanvar Circle and a tunnel in Shamakhinka will be held on March 19.
17 March 2007 [16:12]

Houses and graveyards on metro line to be demolished down, Tagi Ahmadov says

The houses, buildings or graveyards located on the project line of the Baku metro will be demolished, said Baku Metro Chief Tagi Ahmadov.
17 March 2007 [10:59]

U.S. pushes for more Shah Deniz gas to Georgia

The amount of Shah Deniz gas Georgia is importing should be increased.
17 March 2007 [10:58]

Azercell inks roaming deal with operators of Israel and Canada

Azerbaijan's leading mobile operator Azercell Telecom has concluded GPRS/MMS roaming agreements with two operators of Israel-Partner and Celcom and two operators of Canada-Rogers and Fido.
17 March 2007 [10:57]

Baku to host real estate cadastre seminar

A international seminar on real estate cadastre and registry will be held in Baku by this year's end.
17 March 2007 [10:56]

Amrah Sigorta to raise its authorized capital 12.5%

Azerbaijan's Amrah Sigorta Insurance Company intends to raise its nominal capital by 12.5% by this year's end.
17 March 2007 [10:54]

Azer-Asia Insurance JV to be OJSC in March

Azerbaijan-Iran joint venture Azer-Asia intends to shift its legal status to Open Joint Stock Company by the end of March.
17 March 2007 [10:53]

AGBank to open Yevlakh branch

AGBank intends to open a branch in Yevlakh in July.
17 March 2007 [10:52]

Azerbaijan announces contest for high-voltage power line construction

Azerenergy has announced a competition for the construction of high voltage power line between Imishli and Azerbaijan Thermal Power Plant.
17 March 2007 [10:50]

Azerbaijan's budget formed 82% from taxes and customs last year

During 2006, the national budget of Azerbaijan was formed 69% from taxes and 13.3% from customs and 1.7% from extrabudgetary revenues, the country's Prime Minister Artur Rasizade told the parliament in an annual government report.
17 March 2007 [10:41]

AtaBank expands term deposit portfolio 98%

AtaBank increased its term-deposit portfolio 98%, year-on-year, to AZN 39,462,300, as of March 1.
17 March 2007 [10:40]

Azerbaijan wants to cooperate with Transtelecom

Azerbaijan's Transport and Communications and Information Technologies Ministries show great interest in cooperation with Russia's Transtelecom.
17 March 2007 [10:38]

SOCAR wants to buy Russian-made oil equipment

Azerbaijan State Oil Company (SOCAR) intends to buy Russian-made oil equipment.
17 March 2007 [10:19]

CIS Tourism Council to meet in Moscow

CIS Tourism Council's meeting will be held in the Russian capital, Moscow on March 19.
17 March 2007 [00:19]

CIS to weigh new transit route for Caspian oil

A working group set up to coordinate a draft CIS Head-of-State Council resolution to facilitate transportation and guaranteed supply of hydrocarbons to the commonwealth's member states will hold a meeting in Moscow on March 21-22.
17 March 2007 [00:14]

Azerbaijan negotiating with foreign countries on construction of dockyard

Azerbaijan's Caspian Shipping Company is negotiating with the relevant bodies of the foreign countries on construction of a shipyard around Baku.
16 March 2007 [23:53]

Georgia to receive Shah Deniz gas as from March 17

Georgia will be receiving Shah Deniz Gas via Baku-Tbilisi-Erzurum pipeline from Saturday.
16 March 2007 [23:52]

No detainees for building collapse in Baku

Criminal case has been launched on collapse of the upper part of an under-construction 21-storey building at the intersection of Nizami and Fikret Amirov streets (behind British embassy) in Baku.
16 March 2007 [17:24]

Azeri foreign debt reaches USD 2 billion

According to the Azeri Finance Minister, at the end of 2006 the country's foreign debt totalled USD 1.9 billion, which equals USD 232.5 per capita.
16 March 2007 [17:20]

Parliament hears government's annual report

Azerbaijan's Prime Minister Artur Rasizade made an annual report at the parliament, saying that a total of US $6 billion was invested in the economy during last year.
16 March 2007 [17:19]

Inflation rate 8.3% in Azerbaijan last year

Despite inflation pressures, the Azerbaijani Government achieved to keep inflation rate in 8.3% in 2006, Prime Minister Artur Rasizadeh said when presenting the government's annual report to the Parliament.
16 March 2007 [17:18]

Telephone bills paid through ATMs in Baku

Baku Telephone-Communication Unit customers can pay the bills through ATMs.
16 March 2007 [17:17]

Russia is too late to lay pipeline like BTC, Azeri top energy official says

Russia's initiative to build a pipeline alternative Baku-Tbilisi-Ceyhan will not affect the BTC project, said Azerbaijan's Industry and Energy Minister Natig Aliyev.
16 March 2007 [17:15]

Turkmen gas may bypass Russia

There is an increasing possibility that Turkmen hydrocarbons may reach Europe bypassing Russia.
16 March 2007 [15:44]

OPEC left output at 25.8m barrels per day

The oil ministers of the Organization of Petrolem Exporting Countries (OPEC), meeting here at their 144th regular session, reached the agreement to maintain the present production quota at 25.8 million barrels per day after intensive consultations that preceded the closed-door regular meeting.
16 March 2007 [14:55]

Azerbaijan Internet Forum suggests fighting mobile phone theft

Azerbaijan Internet Forum has submitted a package of proposals to the parliament, prime minister, communication and information technologies minister and interior minister to improve the legislation for cell-phone services and operator-customer relation.
16 March 2007 [08:52]

Azeri Field spent $6.49m up to now

The development of Azeri Field in the Azerbaijan's sector of the Caspian has to date spent $6.49 million.
16 March 2007 [08:50]

Standard Insurance sign 58 mortgage deals

Azerbaijan’s Standard Insurance has to date signed 58 mortgage insurance agreements within the scope of the mortgage lending in the country through funding by Azerbaijan Mortgage Fund.
16 March 2007 [08:49]

Real estate appreciates 25% in Baku

The price of the immovable property climbed 25% on average in Baku during 2006.
16 March 2007 [08:48]

IFC, BP, AMFB to finance service companies in Azerbaijan

The IFC, Azerbaijan Microfinance Bank and BP-Azerbaijan intend to sign an agreement to provide funding to service companies engaged in oil sector.
16 March 2007 [08:45]

Life Along The Pipeline: BTC's Impact On Azerbaijan

As part of its ongoing coverage of energy issues in the South Caucasus, EurasiaNet is providing an illustrated overview of how the Baku-Tbilisi-Ceyhan oil pipeline has affected the lives of residents in its three host countries: Azerbaijan, Georgia and Turkey.
16 March 2007 [08:18]

Azneft Director General fired

Azneft Production Unit Director General Shahin Ismayilov has been dismissed.
16 March 2007 [08:17]

AIOC ups oil production 79%

Azerbaijan International Operating Company (AIOC) produced a total of 5,341m tons of oil from Azeri-Chirag-Guneshli field during the period of January February, up 2.371m tons or 79.3% from a year earlier.
16 March 2007 [08:15]

STEP Phase 3 to be complete in June

The Sangachal Terminal Expansion Programme (STEP)-Phase 3 main construction works are progressing well and are currently 88% complete, said the Project Manager Norman Ingram.
16 March 2007 [07:55]

Jose Luis Herrero Ansola: "Oil revenues can be directed to development of other sectors"

"Petrodollars create opportunities for Azerbaijan that a lot of countries do not have.
15 March 2007 [23:04]

President Aliyev approves SOCAR & RussNeft PSA

Azerbaijan President Ilham Aliyev has issued an executive order on approval of the PSA between SOCAR, SOCAR Joint Company and RussNeft on the development and restoration of the Zigh and Hovsan onshore oilfield.
15 March 2007 [23:03]

Autostar Caucasus displays Mercedes in Autoshow Azerbaijan

Autostar Caucasus, dealing with the selling and service of Mercedes-Benz, Chrysler and Jeep in Azerbaijan, displays C-280 and CL-500 models of Mercedes on the Fourth Azerbaijan International Automotive Exhibition-AutoShow Azerbaijan-2007.