Business

11 October 2006 [10:03]

Collection of electric bills improved in Lenkeran

Lenkeran Electricity Supply Department collected AZN 117000 from the customers in September. This indicator was AZN 105000 in August.
11 October 2006 [10:00]

5 500 tonnes of fuel saved in thermal power plants in Sept

Fuel consumption for electricity generation was 371.51 gram/kilowatt/h against 375.33 in the thermal power plants in Azerbaijan during September.
11 October 2006 [09:56]

NBA's official currency reserve hits USD 1,524bn

Official currency reserve of the National Bank of Azerbaijan reached $1,5 bn.
11 October 2006 [09:54]

Bank Standard's summary for September

A press conference on the summary of September was held in Standard Bank CJSB.
11 October 2006 [09:27]

Azerbaijan spends $300mn on BTC

High oil prices have direct influence on the rise of the revenues of the State Oil Fund.
11 October 2006 [09:23]

Shahmar Movsumov: "State Budget of Azerbaijan to be $7bn next year"

Caspian Integration Business Club members met with Shahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ).
11 October 2006 [09:19]

Bank of Baku starts bonus campaign for money transfer

Bank of Baku has today started campaign which gives special bonuses to the customers.
11 October 2006 [09:16]

Baku hosts BINSA annual meeting

Annual meeting of the Black Sea International Ship-owners Association (BINSA) was held in Baku.
11 October 2006 [09:11]

SSC registers issue prospectus of book-entry bonds of Azerigazbank

The State Committee for Securities registered the issue prospectus of ordinary book-entry bonds of Azerigazbank OJSC.
11 October 2006 [08:53]

Egg price to fall

The price of eggs is expected to fall as from the second half of October, National Poultry Society chief Aydin Valiyev told.
10 October 2006 [20:02]

Trades at BICEX

The weighted average exchange prices made up 0,8734 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 10.
10 October 2006 [19:43]

Baku Build 2006 and Baku Mebel 2006 exhibitions start

12th Azerbaijan International Construction Exhibition (BakuBuild 2006) and 4th International Furniture and Woodworking, Interiors and Design Exhibition (BakuMebel 2006) will start tomorrow.
10 October 2006 [09:40]

First car produced at Ganja Automobile Plant

The first Chinese automobile has been made at Ganja Automobile Plant on Monday.
10 October 2006 [09:39]

SOCAR has 6 182 production wells

As of October 1, the State Oil Company of Azerbaijan (SOCAR) (excluding Operating Companies and Joint Ventures) has 6 182 production wells.
10 October 2006 [09:38]

Nakhchivan Module Power Station to be completed

Construction of Nakhchivan Module Power Plant continued to progress on the schedule.
10 October 2006 [09:37]

State Agency for Management of Public Property announces recruitment

State Agency for Management of Public Property has begun receiving applications for job vacancies.
10 October 2006 [09:36]

BINSA to hold annual meeting

Black Sea International Ship-owners Association (BINSA) will hold an annual meeting in Baku on October 10.
10 October 2006 [09:35]

Auction on placement of T-bills to be held at BSE

An auction on placement of T-bills with the state registration number 10203013S will be held at Baku Stock Exchange on October 10.
10 October 2006 [09:33]

SOCAR announces tender on Azeri LT

10 October 2006 [09:29]

French court to review Azerbaijan's complaint

French Court will review Azerbaijan's complaint on removal of the seizure of the Azerbaijan's shares on October 13.
10 October 2006 [09:27]

Azercell announces tender on medical insurance

Azercell Telecom announced a tender on the medical insurance for its employees and families of them.
10 October 2006 [09:24]

Samir Sharifov: "Oil price can rise"

Oil price is expected to increase at the world markets, Azerbaijani Finance Minister Samir Sharifov said.
09 October 2006 [22:54]

President Aliyev meets founder and CEO of Noble Group

President Ilham Aliyev of Azerbaijan on October 9 received at President Palace founder and CEO of Noble Group Richard Elman.
09 October 2006 [22:49]

Trades at BICEX

The weighted average exchange prices made up 0.8739 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 9.
09 October 2006 [21:53]

150 Azerbaijani workers dismissed in McDermott

McDermott began to dismiss the number of the Azerbaijani workers because of the end of projects.
09 October 2006 [15:58]

Some 50 Polish companies to join national exhibition in Baku

Press conference has been held in the Polish Embassy in Azerbaijan on occasion of the Polish national exhibition to take place in Baku November 8-10.
09 October 2006 [15:50]

Baku-Tbilisi-Erzurum gas pipeline's construction nearing end

State Oil Company of Azerbaijan (SOCAR) said construction of the Baku-Tbilisi-Erzurum gas pipeline is nearing its end.
09 October 2006 [15:47]

WB signs agreement on Health Sector Reform Project

Azerbaijani Finance Minister Samir Sharifov said that the World Bank provided US$50mn-credit to Azerbaijan on favorable conditions.
09 October 2006 [10:11]

Russia to set up oil exchange, Azerbaijan agrees

The Russian government has developed guidelines to establish a crude oil and oil product exchange in Russia, President Vladimir Putin said on Saturday.
08 October 2006 [22:39]

Iran woos Central Asians as oil export route

Iran made a pitch to become a strategic export route for Central Asia's oil, even as Tehran faces mounting pressure from the West to abandon its nuclear ambitions.
08 October 2006 [02:48]

International construction and real estate exhibition to be held in Baku

ITECA Caspian LTD, the exclusive partner of ITE Group Plc - the leading organizer of the international trade exhibitions and conferences in the South Caucasus will open 12th Azerbaijan International Construction Exhibition "BakuBuild 2006" and 1st International Real Estate Exhibition "AzRealty-2006", October 11- 14 in Heydar Aliyev Sport and Exhibition Complex.
07 October 2006 [17:43]

Azercell mounts 38 stations in September

Azerbaijan's mobile operator Azercell Telecom has mounted 38 stations in September in the capital of Baku and provinces.
07 October 2006 [17:38]

Trades at BICEX

The weighted average exchange prices made up 0,8739 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 6.
07 October 2006 [14:36]

Minimum salary to be raised from Jan. 1

The level of the minimum salary will be raised from January 1, 2007.
07 October 2006 [10:20]

International Finance Corporation extends credit line to UniBank CB

UniBank CB has joined the GTFP (Global Trade Finance Programme) of the International Finance Corporation, in the format of which the Bank is awarded with a termless revolver credit line for trade finance in the total amount of $1.5 mn.
07 October 2006 [10:15]

Deals at BICEX

The weighted average exchange price made up 0.8739 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange yesterday.
07 October 2006 [09:58]

3.103mn tonnes of oil delivered to world market from Ceyhan Port since BTC started

1 146 404 tonnes of Azerbaijani oil was transported through Baku-Tbilisi-Ceyhan (BTC) in September.
07 October 2006 [09:47]

Tahir Aliyev: "Sometimes BakGas's employees allow gas robbery themselves"

As of October 1, BakGas has provided 320 000 customers with gas meters, Baku Main Gas Department chief Tahir Aliyev told a press conference.
07 October 2006 [09:35]

RAO EES to open its office in Azerbaijan

RAO EES will open its representative office in Azerbaijan in near future.
07 October 2006 [09:32]

New IEB standards for veterinary services

International Epizootic Bureau has started workshop in Baku on dialogue and joint activities among the EU member-states and Regional Commission for Europe member-states.
06 October 2006 [19:28]

Azeri-Romanian intergovernmental commission to meet in Baku

The second meeting of Azerbaijan-Rumanian intergovernmental joint commission will be held in Baku on Saturday.
06 October 2006 [19:06]

Russian minister says Georgia can't veto Russia's accession to WTO

Russian Economic Development and Trade Minister German Gref said Friday that neither Georgia nor any other country had the right to veto Russia's accession to the World Trade Organization (WTO).
06 October 2006 [16:17]

Russian and Azerbaijan Economic Development Ministers sign a protocol on cooperation between the two ministries

Economic Development and Trade Minister Heydar Babaev and his Russian counterpart German Gref and has signed a protocol on cooperation between the two ministries.
06 October 2006 [15:35]

Vahid Alakbarov: "LUKoil plans to increase filling stations to 30 in Azerbaijan"

Russia's LUKoil Oil Company President Vahid Alakbarov gave a press conference in Azerbaijan.
06 October 2006 [14:01]

President Aliyev: "Azerbaijan hopes to secure long-term business ties with Russia"

Azerbaijan hopes for long-term business cooperation with Russia, Azeri President Ilham Aliyev told a meeting with Russian Economic Development and Trade Minister German Gref in Baku on Friday.
06 October 2006 [13:56]

Over 1 000 villa-like detached houses owe Baku Main Gas Department

1 000 of 3 000 villa-like detached houses in Baku owe Baku Main Gas Department, Chairman of the department, Tahir Aliyev said.
06 October 2006 [13:53]

Azerbaijan for Russian companies developing its oil deposits

Azerbaijan is in favour of Russian companies participating in the development of oil deposits in its territory, said Elmar Mammadyarov, the Azerbaijani foreign minister.
06 October 2006 [13:39]

Azerbaijan consulate in Kars appeals for opening Baku-Kars-Istanbul flight

Azerbaijan consulate in Kars appealed to relevant bodies of the two countries for opening Baku-Kars-Istanbul flight.
06 October 2006 [13:31]

Russia's economics minister on visit to Azerbaijan

Russia's economics minister will discuss Friday in Azerbaijan stepping up bilateral trade and economic cooperation, the ministry's press-service said.
06 October 2006 [10:13]

Nakhchivan imported over 70mn KW/h in September

Nakhchivan Autonomous Republic imported some 70.706mn KW/h electrical power in September.
06 October 2006 [10:03]

Taxes Ministry completes check-up in VMF Company backing ANS TV

Taxes Ministry has completed check-ups in VMF Company which gives financial support to ANS TV.
06 October 2006 [09:41]

Finance Ministry's Insurance Department develops action plan to qualify staff of insurance companies

Finance Ministry's Department for Control of Insurance Activities has developed an action plan for qualification of the insurance companies’ staff, Department Chairman Namig Khalilov told.
06 October 2006 [09:37]

Finance Ministry works out Program for Development of Insurance System

Finance Ministry is working out Program for Development of Insurance System.
06 October 2006 [00:07]

Gazprom denies information on gas price supply to Georgia

Russia's energy giant Gazprom said Thursday it is conducting no negotiations with Georgia over the gas price for 2007, despite a Georgian energy businessman's statements.
05 October 2006 [19:44]

World Bank, Azerbaijan sign a 29mn-loan agreement

On Thursday the World Bank and Azerbaijani Government have signed an agreement on Agricultural Develoment and Credit Project Phase II. According to the agreement, the World Bank will allow a loan of 29mn to the Government.
05 October 2006 [19:01]

Baku seeking to transfer oil to Persian Gulf

Ambassador of the Republic of Azerbaijan to Tehran voiced his country's enthusiasm for transferring its oil to the waters of the Persian Gulf.
05 October 2006 [18:50]

SOFAZ, OSIWA chiefs meet

Executive Director of the Azerbaijan State Oil Fund (SOFAZ) Shahmar Movsumov met with executive director of the Open Society Initiative for West Africa (OSIWA) Nana Tanko and head of the Open Society Institute-Soros Foundation Farda Asadov.
05 October 2006 [18:38]

Defense and Finance Ministries blame each other for some officers not receive belongings compensation

"A number of officers-in-reserve cannot receive belongings compensation because, Finance Ministry did not allocated funds for it," said Ilgar Verdiyev, Defense Ministry press service officer.
05 October 2006 [15:04]

The first Shah Deniz gas to be produced this month

The Shah Deniz gas and condensate development project has continued to progress according to schedule since the beginning of 2006 and construction is currently almost complete overall.
05 October 2006 [09:43]

Azerbaijani Mortgage Fund receives 191 applications

Azerbaijani authorized credit institutions received 191 official appeals from the citizens for mortgage within seven months.
05 October 2006 [09:40]

Russian Economics and Trade Minister German Gref to visit Azerbaijan

Economic Development and Trade Minister of Russia, German Gref, will pay a visit to Azerbaijan October 5.
05 October 2006 [09:14]

International Transaction Systems tops ranking of brokers in Azerbaijan in September

In September of this year according to the calculations by the Analytical Department of the BSE, in the government securities market (excluding repo operations market) International Transaction Systems headed ranking of brokers with brokerage services in the total amount of AZN 29 691 593.72 provided to two client.
05 October 2006 [08:58]

IEB lifts ban for fowls export and import

International Epizootic Bureau (IEB) lifts ban for fowl-flesh and products export and import, according to State Veterinary Service at Agricultural Ministry's information.
05 October 2006 [00:42]

Iran-Armenia gas pipeline on stream early 2007

The project of Iran's gas conveyance pipeline to Armenia will come on stream early 2007, Reza Kasaiizadeh, the managing director of the National Iranian Gas Company (NIGC) said here on Wednesday.
04 October 2006 [20:06]

Trades at BICEX

The weighted average exchange prices made up 0.8739 AZN for 1 US dollar in the Baku Interbank Currency Exchange on October 4.
04 October 2006 [19:44]

U.S. donates wheat for Azerbaijan health project

The United States will donate $1.75 million worth of wheat for a project to strengthen immunization services in Azerbaijan, which wants to eliminate measles and congenital rubella syndrome.
04 October 2006 [18:40]

Ministry of Justice, World Bank seal agreement

Government of Azerbaijan and the World Bank have signed an Agreement On financing on the project of modernization of justice system.
04 October 2006 [14:32]

Detention of ex-Economic Development Minister prolonged for more six months

The detention period of the former Economic Development Minister Farhad Aliyev was prolonged for more six months, Ramis Mammadov told.
04 October 2006 [13:49]

Azerbaijani, Georgian and Turkish Transportation Ministers may meet in Ankara

Azerbaijani, Georgian and Turkish Transportation Ministers may meet in Ankara on October 13-14 to discuss issues concerning Baku-Tbilisi-Akhalkalak-Kars Railway Project, Turan Morali stated.
04 October 2006 [12:22]

Caspian Business News edition closed

Caspian Business News, the region's premier English-language newspaper providing a clear and concise outline of the business environment in Azerbaijan and the Caspian region stopped its activity on Wednesday.
04 October 2006 [10:12]

Total says Kashagan field production faces delay as costs rise

Total SA said production at the Kashagan oil field in Kazakhstan, one of the five biggest in the world, will likely be delayed beyond its planned 2008 start and the project will cost more than forecast.
04 October 2006 [09:55]

Azeri parliament ratifies oil-pumping agreement with Kazakhstan

Milli Majlis has ratified an agreement on transportation of Kazakhstani oil to the world markets via the Caspian seabed and farther on via the territory of this Trans-Caucasian republic by Baku-Tbilisi-Ceyhan oil pipeline, the parliament's press service said on Tuesday.
04 October 2006 [09:46]

Accounting Chamber delegation to visit Kyrgyzstan

Delegation of Azerbaijan Accounting Chamber will visit Kyrgyzstan on October 19.