Business

29 September 2005 [08:42]

First 50 thousand insurance certificates to be given to employees recently

The first party of social insurance certificates to be given to citizens working in Azerbaijan was already brought.
29 September 2005 [08:08]

Over $80 million invested in Nakhchevan AR

From January to August 2005, 368336,3 million AZM (over $80 million) were invested in the Nakhchevan Autonomous Republic (NAR), which is for 48,5% more of the same period of 2004. From this amount 311964,4 million AZM (about $68 million) were invested in constructing and mounting works, the growth made up 33,4%.
23 September 2005 [10:06]

William Toll: “International aid to the country should be stopped because of the economical development of Azerbaijan”

The decrease of international humanitarian aid to refugees and internally displaced persons continue parallel with the enrichment of the country.
23 September 2005 [09:21]

First 600,000 barrels of Azeri Light Oil delivered to Ceyhan for testing terminal

The batch of the Azeri Light oil was delivered in the first ten days of September to the Turkish port of Ceyhan from the Georgian Black Sea port Supsa for testing the terminal and filling up the part of the oil pipeline Baku-Tbilisi-Ceyhan.
23 September 2005 [09:11]

Application of CDMA technologies to be expanded in Azerbaijan

The “Huawei” company acting on marketing and analysis researches of the telecommunication market in Azerbaijan since 2001 began installation of the new equipments in “Aztelecom” and Baku Telephone Communication production unions for implementation of application of the new CDMA technologies.
23 September 2005 [08:54]

“Bank of Baku” joined the TRAVELEX money transfer system

“Bank of Baku” has begun serving in the frame of the TRAVELEX urgent money transfer international system since September 20.
23 September 2005 [08:43]

Azerbaijan leads for economic growth in CIS

(ITAR-TASS) – Azerbaijan is an indisputable leader in CIS for the economic growth pace.
23 September 2005 [08:40]

Azerbaijani delegation will visit the Turkish Republic of North Cyprus

Delegation composed of Azerbaijani deputies, intellectuals and cultural figures will visit the Turkish Republic of North Cyprus (TRNC) in early October.
23 September 2005 [08:38]

Garadagh Cement gives up temporarily implementation of its investment program

The Open Joint Stock Company (OJSC) Garadagh Cement refuses temporarily from implementation of its investment program.
20 September 2005 [12:07]

Profits of enterprises in fist half-year grow 16.7%

The balance profits of 72.9% of enterprises and organizations of Azerbaijan made up 4480.1 bn manats in the first half-year of 2005.
20 September 2005 [11:42]

Foreign investors declined developing “Pirallahi” oil field

After studies conducted a number of foreign companies refused from the project on rehabilitation and development of the of the off-shore oil-field “Pirallahi”, which is currently operated by the State Oil Company of Azerbaijan (SOCAR).
20 September 2005 [11:23]

Azeri gov’t takes extreme measures to lift currency crisis

The Azerbaijani government held an irregular meeting in early hours of Monday to lift the crisis which broke out on 17 September as a result of irregular fall in the rates of US dollar in regard to Azerbaijani manat.
20 September 2005 [11:15]

GUAM fms discuss implementation of resolutions of Chisinau Summit in New York

(Novosti-Ukraine) – The tenth session of the GUAM Council of Foreign Misters in New York under the UN Summit 2005.
16 September 2005 [10:26]

Wireless Internet will reach the mass market in Baku

iBurst technology allows to do it without any problem.
14 September 2005 [09:43]

Foreign investors still interested in some Azerbaijani oil fields

Some foreign companies are in consultations with the State Oil Company of Azerbaijan (SOCAR) on the prospective development of onshore and offshore fields of the country.
14 September 2005 [09:06]

McDermott launched construction of underwater pipeline in framework of “Shakh-Deniz” project

The American McDermott launched construction this week of the underwater pipeline in the framework of the «Stage-1» of the project on development of the gas condensate deposit «Shakh- Deniz” in the Azerbaijani sector of the Caspian Sea. McDermott (a BP contractor) started constructing the pipeline for pumping the gas condensate from “Shakh-Deniz”.
13 September 2005 [10:09]

Cotton yield was about 45,000 tons

Since the start of the year the cotton yield in the regions of Azerbaijan was 44 657 tons.
13 September 2005 [10:02]

Turkey plans to receive up to $200 million as direct revenues from BTC project

During the first 16 years of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline operation Turkey expects to receive up to $200 million direct revenues along with the indirect ones, the official site of the Turkish Botas company, engaged in the BTC construction on it’s country’s territory says.
13 September 2005 [09:51]

Plants also will be insured in Azerbaijan

Plants will also be insured in Azerbaijan.
13 September 2005 [09:00]

Government and commercial mission of Oklahoma state is in Baku

A delegation of government and commercial representatives from the U.S. state of Oklahoma is visiting Baku from September 11 to September 16, 2005.
13 September 2005 [08:41]

Ministry of Communications invested about $14 million in it-sphere

The Ministry of Communications and Information Technologies (MCIT) of Azerbaijan invested 62715,7 million AZM ($13,69 million) for the 8 months of the current year.
13 September 2005 [08:33]

Ganja automobile factory to assemble uaz cars of 14 modifications

The Ganja automobile plant (GAP) has set up assembling of cars of different models of the Ulyanovsk Automobile Plant (UAP).
13 September 2005 [08:29]

International conference on liberalization of electric energy market held in Baku

The International Conference on liberalization of energy and Azerbaijani electric energy distribution model was held at Ataturk Center in Baku.
09 September 2005 [10:05]

Azerbaijan and Bulgaria plan to sign agreements in agricultural sphere

During the expected official visit of the Azerbaijan’s President Ilham Aliyev to Bulgaria signing of two agreements in the agricultural sphere is planned. Among the documents is a convention in the veterinary sphere and phyto-sanitation, as well as an agreement on cooperation in the quarantine and protection of plants areas.
09 September 2005 [09:59]

Delegation of executive directors of Asian Bank of Development plans to visit Azerbaijan

Members of the Asian Development Bank's Board of Directors will visit Azerbaijan from 10-14 September 2005.
09 September 2005 [09:32]

Exhibition on domestic tourism to be held in Baku

The exhibition on the domestic tourism in Azerbaijan will be held on 1 October 2005 in Baku.
08 September 2005 [11:12]

Deputy minister Natik Amirov commented on situation with Garadag Cement

"It is the right of any tax payer to apply to the court in case he does not agree with the decision of the tax body.”
08 September 2005 [10:41]

Ilham Aliyev: “Targeted economic policy enabled to implement radical changes in economic development of Azerbaijan”

Radical changes, carried out in Azerbaijan for the last years and the targeted economic policy enabled to implement fundamental changes in the economic development.
08 September 2005 [10:02]

Azerbaijan needs up to 8 billion cubic meters gas a year for meeting its domestic demands

Azerbaijan needs 7-8 billion of cubic meters of gas a year for meeting its domestic demands.
08 September 2005 [10:00]

Old currency bills to be removed from the circulation in Azerbaijan by 1 January 2007

Old currency bills will remain in the circulation for a year, and be removed from the circulation by 1 January 2007.
08 September 2005 [09:34]

Consultations on development of Azerbaijani-Polish relations to take place in Warsaw

A delegation headed by the Vice-Premier of the Azerbaijan’s government Abid Sharifov is in Warsaw now.
08 September 2005 [09:32]

Two prices to be shown on goods in Azerbaijan starting from 1 October

The prices of goods will be shown by both old manat and new manat in all retail shops and purchase and sale objects by 1 October.
08 September 2005 [09:03]

BTC Co board of directors to sit in Ankara

The Board of Directors of ??? ?? will hold a meeting in Ankara, Turkey, on Friday.
08 September 2005 [08:59]

New Polish ambassador intends to develop economic relations with Azerbaijan

“The political relations between Azerbaijan and Poland are in the highest level, but we have good opportunity to develop economic relations, particularly, increase goods turnover.”
07 September 2005 [10:24]

Iteca Caspian Ltd probable to hold exhibitions in regions

“Iteca Caspian Ltd does not rule out the organization of exhibitions in the regions of Azerbaijan by the end of the year.”
07 September 2005 [08:53]

The 3rd International Furniture, Interior and Design exhibition starts in Baku tomorrow

An opening ceremony of the 3rd Azerbaijan International Furniture, Interior and Design Exhibition will be held in the Sport and Exhibition Complex today.
07 September 2005 [08:48]

Labour fair will be held in Baku on October 14-15

The Employment Head Office of the Ministry of Labour and Social Protection of Population will hold 9 labour fairs in the regions till the end of September.
07 September 2005 [08:42]

Opening ceremony of the gas compressor station near Astara will take place this week

An opening ceremony of the gas compressor station (GCS) near Astara town at the Azerbaijan-Iranian border will take place this week in the framework of the project on restoring the gas supply to the Nakhchevan Autonomous Republic (NAR), deputy chairman of the Joint Stock Company (JSC) Azerigaz Nasim Samedzade told the news conference on 6 September.
06 September 2005 [09:32]

Exhibition of Iranian goods due

An exhibition of industrial goods, made in Urmin Province of Iran will be held at the Palace of Hand Games in Baku from 6 to 8 September 2005, the Iranian embassy in Azerbaijan told Trend.
06 September 2005 [08:45]

National Bank has no special action plan on removing false money off the circulation

“All the state organizations, especially law enforcement bodies should prevent the spread of false money in the republic.”
06 September 2005 [08:12]

Garadagh Cement invested $10 million in 2005

The Open Joint Stock Company (OJSC) Garadagh Cement invested in the amount of $10 million in 2005.
05 September 2005 [09:22]

The length of automobile roads of Azerbaijan is more than 18 thousand kilometers

The general length of motor roads good for using in the territory of the country is more than 18 thousand kilometers.
05 September 2005 [09:11]

Tax changes due in 2006

Rate of profit tax may be reduced by 4%. Thus, it may be decreased from 24% to 20%, Azer Bayramov, the deputy Minister of Finance told Trend.
05 September 2005 [08:58]

50% of alcoholic drinks and 20% of cigarettes sold in Azerbaijani market are fake

50% of alcoholic drinks and 20% of cigarettes sold in Azerbaijani market are faked-up.
05 September 2005 [08:55]

?IOC to start paying profits tax since 2005

The Azerbaijan International Operation Company (AIOC), developing the oil fields block “Azeri-Chirag-Gyuneshli” (ACG) will start paying the profits tax in the current year.
05 September 2005 [08:50]

International conference on liberalization of energy and its distribution due

An international conference on liberalization of energy and its distribution will be held in Baku, Husseyn Arabul, the President of Barmek Azerbaycan, told Trend.
03 September 2005 [12:50]

Finance Minister Avaz Alakbarov gave press conference on state budget 2006

Finance Minister Avaz Alakbarov today held a press conference on the 2006 state budget.
03 September 2005 [12:14]

First Airbus "A319" will arrive to Azerbaijan

The first Airbus "?319" purchased by the State Concern “Azerbaijan Hava Yollari” (AZAL) will arrive in Azerbaijan today at 18:00 p.m., the State Concern told Trend.
03 September 2005 [12:08]

USA provides annual assistance to Azerbaijan for $90 million

28% of the annual volume of foreign investments to Azerbaijan fall at the share of the American business.
03 September 2005 [12:03]

?zerbaijan raised index of budget forecast of oil price up to record of $40/barrel

The Finance Ministry of Azerbaijan specified the forecast oil price for 2006 at the level of $40 per barrel.
03 September 2005 [11:56]

International Monetary Fund Mission ended its visit to Baku

An IMF mission led by Mr.Vitali Kramarenko, mission chief for Azerbaijan (Middle East and Central Asia Department), visited Baku from August 24-31, 2005.
03 September 2005 [11:54]

State investment company will be established in Azerbaijan

The state investment company will be established in Azerbaijan. About $100 million is planned to allocate from the state oil budget of Azerbaijan for its capitalization.
03 September 2005 [11:46]

Agriculture Minister met with USA Trade and Development Agency director on Europe and Eurasia region Daniel Stain

Agriculture Minister Ismet Abbasov met with USA Trade and Development Agency director on Europe and Eurasia region Daniel Stain.
03 September 2005 [11:20]

New insurance company to be established to prevent capital outflow

A new company titled ‘National Repeated Insurance Company’ (NRIC) will be established in Azerbaijan.
02 September 2005 [13:25]

«Bank of Baku» started crediting tourism

The joint-stock commercial «Bank of Baku» started implementation of the project on funding tourism within the project “Consumer Crediting”.
02 September 2005 [13:19]

AIOC will ship over 400,000 tons of oil from Supsa in September

In September 2005 partners in the Azerbaijan International Operating Company (AIOC), which is involved in the development of Azeri- Chirag-Gunashli fields (ACG), plans to deliver 430,000 tons of oil from the Georgian port of Supsa through four tankers.
02 September 2005 [12:28]

Ilham Aliyev asserted the Regulations on Copyrights Agency of the Azerbaijan Republic

The head of the state Ilham Aliyev signed a decree on assertion of the regulations on the copyrights Agency of the Azerbaijan Republic.
25 August 2005 [12:07]

Representation of the “TuranAlem” bank of Kazakhstan was opened in our country

A ceremony was held at the “Europe” hotel today in connection with 80th anniversary of the “TuranAlem” bank of Kazakhstan and opening of the representation of the bank in our country.
25 August 2005 [09:36]

International Health Exhibition to be held in Baku

The 11th Azerbaijan International Health Exhibition will be held in the Sport and Exhibition Complex named after Heydar Aliyev on November 2-5.
25 August 2005 [09:14]

Goods turnover between Azerbaijan and Turkey exceeds $283 m

Since the beginning of 2005 goods turnover between Azerbaijan and Turkey comprised over $283m. the State Statistics Committee (SSC) informed Trend Azerbaijan imported $180.3m worth of goods from Turkey, or 7% of the entire import.
25 August 2005 [09:10]

Drilling equipment for RV investment will be delivered in early September

Drilling equipment for the RV Investment Services Grou? LLC will be delivered to Azerbaijan from Europe on 5-7 September this year.
24 August 2005 [09:27]

RV Investment designs proposals on development of a new gold mine in Azerbaijan

RV Investment Services Grou? LLC is currently preparing proposals to the Azerbaijani government on the development of a new gold mine ‘Chovdar’ in Dashkasan, west Azerbaijan.
24 August 2005 [09:19]

AIOC starts profit tax transfer to public budget

The Azerbaijan International Operating Company (AIOC), the biggest oil producer in Azerbaijan under PSAs, will start profit tax payment to the public starting from 2006.
24 August 2005 [09:12]

Goods for about $368 million imported to Italy

Since the start of the year the goods in the total amount of about $368 million were imported to Italy from Azerbaijan.
24 August 2005 [08:59]

SOCAR resumes export of liquified gas to Georgia

The State Oil Company of Azerbaijan (SOCAR) shipped today, on 23August 280 tons of the liquefied gas under the contract with a number of companies.
24 August 2005 [08:56]

800 “Samand” motor cars to be brought from Iran to Azerbaijan

The executive director of the Iran Export Development Bank Nouruz Kokhzadi and head of the “Elite” Azerbaijan Trade-Industry Group Ali Evsen signed an agreement on exporting 800 “Samand” motor cars produced by the “Iran-Khodrow” auto-industry group in Tehran on Monday.
24 August 2005 [08:49]

“Bayerishce Landesbank” invested 430 million euros in the economy of Azerbaijan

“Bayerishce Landesbank” acting in Azerbaijan invested 430 million euros in the economy of the country.
24 August 2005 [08:21]

Foreign monetary reserves of Azerbaijan are 1.3 times more than its foreign debt

Foreign debt of Azerbaijan still remains conservative.
24 August 2005 [08:19]

Per capita GDP exceeds $1,250 in Azerbaijan

Intensive economic development and consolidation of exchange rate of the national currency will result in rise of the per capita Gross Domestic Product (GDP) in 2006.
24 August 2005 [08:17]

Azerbaijani delegation to attend the seminar of International Labor Organization

Three-sided sub- regional seminar on labor management and state employment services for the selected CIS countries will be held in Cyprus Republic by the International Labor Organization (ILO) on 17-18 October.
23 August 2005 [10:22]

11-th Azerbaijan International Building Exhibition to be held

11-th Azerbaijan International Building Exhibition will be held in Baku on 19-22 October.
23 August 2005 [10:20]

Fourth well on “Shakh-Deniz” will enable to plan operations with TPG 500

BP as operator of the Shah Deniz gas and condensate development project, today announced that it has spudded the fourth pre-drill development well which will complete the Shah Deniz Stage 1 Pre-drilling Programme.
23 August 2005 [09:47]

Azeri Post offices to join “Western Union” system

10 post offices of Baku will be ready to receive money transfers realized by means of “Western Union” system soon.
23 August 2005 [09:44]

Export of Azerbaijan forecasted to $7.1 bn in 2006

The Ministry of Economic Development (MED) presented to the Ministry of Finances the macro-economic forecasts for 2006, Farhad Aliyev.
23 August 2005 [09:40]

Baki Telefon Rabitasi (Baki Telephone Communication) plans to provide CDMA sevices to subscribers

The Production Union (PU) Bakı Telefon Rabitasi (BTRİB), part of the Ministry of Communications and Information Technologies (MCIT) plans to provide the subscribers with the CDMA (Code Division Multiple Access) services.