Business

03 March 2007 [10:21]

Azerbaijan to announce contest for expansion of gasholders

Azerbaijan will hold competition for expansion of gasholders. At the first phase, Garadagh gasholder will be enlarged to 2.3bn cubic meters.
03 March 2007 [10:18]

Azerigas Chair Alikhan Malikov holds press conference

A total of 923m cubic meters of natural gas were supplied to the consumers in Azerbaijan during January, Azerigas Chairman Alikhan Malikov stated.
03 March 2007 [10:15]

Azerbaijan exports 13,593 tons of gasoline in February

The SOCAR Marketing and Economic Operations Department exported 13,593 metric tons of gasoline, 102,783 tons of diesel fuel, 31,793 tons of aircraft fuel, 1,667 tons of lubricants and 3,000 tons of oil bitumen during February, 2007.
03 March 2007 [09:09]

State Labor Inspection to examine construction companies from tomorrow

State Labor Inspection under the Ministry of Labor and Social Protection starts examinations in construction companies tomorrow, stated SLI chief Nebi Shukurlu.
03 March 2007 [09:06]

Economic Court rejects appeal of Independent Azerbaijan University

The appeal of Independent Azerbaijan University (IAU) for the decision of Economic Court #1 was rejected, lawyer for IAU Intigam Aliyev stated.
02 March 2007 [23:08]

Haji Mammadov's lawyer appeals to Court of Appeals

Today Samad Aliyev, a lawyer for former high ranking official of Azerbaijan's Interior Ministry Crime Investigation Department Haji Mammadov, appealed to Court of Appeals on decision of Court of Grave Crimes, the lawyer told.
02 March 2007 [22:56]

Turkey to sell gas from Shahdeniz to Greece

"The well in Azerbaijan will produce natural gas in the framework of Shahdeniz project in six days," Hilmi Guler, Turkey's Energy and Natural Resources Minister said.
02 March 2007 [22:52]

Euro 2008 tickets come on sale

Tickets for the 2008 European Championships went on sale.
02 March 2007 [22:30]

International contest announced for establishment of Heydar Aliyev Center in Baku

Azerbaijan State Committee for Public Property Management has announced an international competition for establishment of Heydar Aliyev Center in Baku.
02 March 2007 [17:13]

Azerbaijan-Latvia Joint Commission agrees to deepen ties

Friday, the first meeting of the Azerbaijan-Latvia Intergovernmental Commission for Economic Cooperation was held in Baku to examine the prospects for expansion of economic ties.
02 March 2007 [16:56]

Azerbaijan needs no talks on Russian gas imports, Natig Aliyev says

Azerbaijan's energy balance blueprint for 2007 is ready and the draft has been submitted to the Government, said Azeri Industry and Energy Minister Natig Aliyev.
02 March 2007 [13:57]

LA hosts Business forum of Azerbaijani and US hi-tech companies

Los Angeles hosted the 2nd Business Forum of Azerbaijani and US companies specialized in high technologies.
02 March 2007 [12:50]

Gold deposits exploration to start up in Nakhchivan in spring

Azerbaijan International Mining Operating Company plans to start exploration activities in Dastabashi, Agyurd and Keleki gold deposits located in Nakhchivan Autonomous Republic.
02 March 2007 [09:16]

Azeri Industry and Energy Minister meets with ISO Secretary-General

Thursday, Azerbaijan's Industry and Energy Minister Natig Aliyev met with Secretary-General of International Organization for Standardization (ISO) Alan Bryden visiting Azerbaijan.
02 March 2007 [09:14]

Palmali, Krasnoye Sormovo sign 10 tanker agreement

Palmali Group of Company ordered Russia's Krasnoye Sormovo Shipyard to build 10 tankers with a deadweight capacity of 7,000 tonnes for shipping chemicals.
02 March 2007 [09:13]

Pasha Sigorta to have international audit in May

Pasha Sigorta will have international audit because of transition to ISO Management Systems.
02 March 2007 [09:05]

10-year draft State Program on development of tourism in Azerbaijan prepared

Azerbaijani President's executive order on development of resorts was necessary and important step. This order will make a push for expansion and development of tourism in Azerbaijan, Azerbaijan's Culture and Tourism minister Abulfaz Garayev told journalists.
02 March 2007 [08:43]

Credit investments in Azeri economy grew 80.6%

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.
02 March 2007 [08:43]

Parameters of innovation zones should attract investors

"Proposals on establishment of regional innovation zones in Azerbaijan should be developed so that its parameters can attract investors as magnet," Azerbaijan Communications and Information Technologies Ministry official Rufat Gulmammadov said.
02 March 2007 [08:41]

Azeri banks' aggregate assets reach 3.66bn

The total amount of the assets owned by Azerbaijan's bank organizations, to February 1, reached AZN 3,668.2m.
02 March 2007 [08:41]

National Depositary Center registers 9 contracts in Feb

National Depositary Center registered 9 contracts on maintaining and registration of the stocks of joint stock companies.
02 March 2007 [08:40]

Iranian Transport Minister's visit to Baku postponed

The visit of Iranian minister of traffic and transport Mehemmed Rehmeti to Azerbaijan was postponed, stated Iranian ambassador Afshar Suleymani.
02 March 2007 [08:39]

Azerbaijan's investment environment promoted in Oslo

Azerbaijan Export and Investment Promotion Foundation (AzPromo), Norway-Azerbaijan Youth Organization and Azerbaijan's Embassy in the UK (also accredited in Norway) organized an investment-promotion workshop in Oslo.
02 March 2007 [08:38]

Iteca Caspian to organize nine debut shows in Azerbaijan this year

The exhibition season in Azerbaijan starts in March 2007.
02 March 2007 [08:36]

$150bn to come to Azerbaijan's Oil Fund within 15 years

Shahmar Movsumov, Executive Director of the Azerbaijan State Oil Fund (SOFAZ), told the Intergovernmental Preparatory Meeting for the fifteenth session of the Commission on Sustainable Development in New York that some US $150 billion will come to the Fund within 15 years, adding that energy revenues should be used efficiently.
02 March 2007 [08:35]

IMF Executive Board to discuss Article IV report on Azerbaijan in May

IMF mission visiting Baku has completed the Article IV report on Azerbaijan.
02 March 2007 [08:30]

Trades at BICEX, March 1

The weighted average exchange price made up 0.8688 AZN/USD at trading sessions on the Baku Interbank Currency Exchange on March 1.
02 March 2007 [08:28]

NBA Chair, IMF mission discuss macroeconomic situation

National Bank's Board Chair Elman Rustamov and head of IMF mission for Azerbaijan Vitali Kramarenko discussed the recent macroeconomic processes in the country.
02 March 2007 [08:24]

National Aerospace Agency and Special Engineering and Conversion Committee abolished

Azerbaijan's President Ilham Aliyev decreed on abolishing Azerbaijan National Aerospace Agency and Special Engineering and Conversion Committee.
02 March 2007 [08:17]

Interferences in entrepreneurship in Ganja reduced

Complains of the interferences of the Ganja police in entrepreneurship reduced by three times compared with last year, Eldar Azizov the Head of Ganja Executive Power said.
02 March 2007 [08:15]

Azerbaijan seeks high tech investors

Oil exports have caused Azerbaijan's growth rate to rocket past 30 percent, but Azerbaijani officials know the oil will not last forever.
02 March 2007 [08:11]

Customs and taxes collection jumps 32% in Azerbaijan

Azerbaijan State Customs Committee collected AZN 109.01m in tax and customs against the plan of 107.1m during January-February.
02 March 2007 [08:09]

Baku hosts first meeting of Azerbaijan-Latvia intergovernmental commission

The first meeting of the Azerbaijan-Latvia intergovernmental commission started in Economic Development Ministry.
02 March 2007 [08:05]

IMF to help Azerbaijan improve consumer price index calculation machinery

Azerbaijan State Statistical Committee has requested IMF to render technical assistance over improvement of the mechanism for Consumer Price Index calculation in the country.
02 March 2007 [08:00]

NBA Chair receives KfW Senior VP

Chairman of the Management Board of the National Bank of Azerbaijan, Elman Rustamov has received a delegation led by KfW Senior Vice-President, Doris Kohn.
02 March 2007 [08:00]

Azerbaijan acquired over 7,000 ISO standards

Azerbaijan State Agency for Standardization, Metrology and Patents has applied over 7,000 ISO standards in the country.
01 March 2007 [21:50]

Azerbaijan to produce gold from 4Q07

Azerbaijan International Mining Operating Company has submitted a report on exploration work in Gadabey and Gosha fields.
01 March 2007 [21:45]

AIMOC to sue companies exploiting gold fields in occupied Azeri lands

Azerbaijan International Mining Operating Company wants an international monitoring group to be sent to the occupied Azerbaijani lands in order to get acquainted with the situation of gold fields, AIMOC President Rza Veziri told.
01 March 2007 [16:09]

State Commission to control privatization of state property set up

Azerbaijan's President Ilham Aliyev issued an executive order on establishment of a State Commission on control over privatization of state property.
01 March 2007 [16:08]

No appeal received on tender for ANS frequency

National Television and Radio Council has not received any appeal on tender for ANS's frequency announced on February 20.
01 March 2007 [16:04]

Credit investments in Azeri economy grew 80.6%

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.
01 March 2007 [14:36]

Baku hosts first meeting of Azerbaijan-Latvia intergovernmental commission

The first meeting of the Azerbaijan-Latvia intergovernmental commission started in Economic Development Ministry.
01 March 2007 [13:58]

ISO Secretary-General visits Baku

Alan Bryden, Secretary-General of International Organization for Standardization (ISO) has visited Azerbaijan at the invitation of Azerbaijan State Agency for Standardization, Metrology and Patents.
01 March 2007 [09:16]

ISO Secretary-General Alan Bryden visits Baku

Alan Bryden, Secretary-General of International Organization for Standardization (ISO) has visited Azerbaijan at the invitation of Azerbaijan State Agency for Standardization, Metrology and Patents.
01 March 2007 [09:14]

Ganja Automobile plant to assemble tractors

Ganja Automobile Plant begins assembling tractors in March this eyar.
01 March 2007 [09:11]

Legal procedure on Barmek former officers' appeal postponed

Appeals Court again postponed the legal procedure on the appeals of two former officers of Barmek-Azerbaijan Electricity Distribution, the court informs.
01 March 2007 [09:07]

Azerdemiryolbank to announce winning campaign

Azerdemiryolbank will hold a winning campaign called "I paid I won" from March 1 through August 31.
01 March 2007 [08:41]

Azeri Parliament to pass new economic laws in spring session

Parliament is expected to adopt a number of economics bills during the spring session.
01 March 2007 [08:37]

Greece-Azerbaijan intergovernmental commission to meet

The first meeting of Greece-Azerbaijan intergovernmental commission on economic cooperation will be held March 15, Economic Development Minister Heydar Babayev said.
01 March 2007 [08:36]

Refund of Soviet-period bank savings problematic in Azerbaijan

There some problems with refund of soviet-time bank savings and the government commission is working on the issue, Ziyad Samadzade, Chair of Parliament Commission for Economic Policy, stated.
01 March 2007 [08:32]

New enterprises to be opened in Azerbaijan this year

A number of new enterprises will be opened in Azerbaijan this year, aid Economic Development Minister Heydar Babayev.
01 March 2007 [08:28]

Azerbaijan Industry Bank to open 8 branches this year

Azerbaijan Industry Bank intends to open eight branches by this year end on the scope of the strategic development plan for 2006-2008.
01 March 2007 [08:26]

ADB energy mission to visit Baku

Asian Development Bank's energy mission will visit Azerbaijan this week.
01 March 2007 [08:24]

Economic Development Minister to meet with Caspian Integration Business Club members

Economic Development Minister Heydar Babayev will meet with the Caspian Integration Business Club members.
01 March 2007 [07:54]

AIC progresses in talks on investment projects

Azerbaijan Investment Company (AIC) considered more than 50 investment projects last year.
01 March 2007 [07:45]

Minsk-Baku-Minsk flight opened

First flight from Azerbaijani capital to Belarus capital will be made today, Emin Ilyasov.
01 March 2007 [07:41]

Ali Abbasov attends meeting of Global Alliance for ICT and Development

Azerbaijan will transfer $100,000 to the account of the UN Global Alliance for Information and Communication Technologies (ICT) and Development (GAID), Ali Abbasov, Azerbaijani Information and Communication Technologies Minister stated at the meeting of the Strategic Council of the organization.
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.