Business

27 October 2008 [10:22]

Price of Azerbaijani gas not to increase for Georgia

Price of Azerbaijani gas will not be increased for Georgia, reports Rustavi 2 TV company, speaking of results of the meeting of the presidents of Georgia and Azerbaijan in Baku.
27 October 2008 [10:13]

IBA planning to allocate AZN 10,000,000 for its mortgage lending program

The International Bank of Azerbaijan is planning to allocate mortgage loans in the amount of AZN 10 mln in 2009, said chairman of the board of the International Bank of Azerbaijan Cahangir Hajiyev.
25 October 2008 [09:34]

Inglab Ahmedov: "Economic perspectives of Azerbaijan seem gloomy"

Day.Az interview with famous economic expert Inglab Ahmedov.
24 October 2008 [13:59]

New highways to be put in service in Azerbaijani regions by the end of the year

Akkord Inshaat Senaye plans to put into service highways in the regions of Azerbaijan, said sources from the company’s architecture and design department.
24 October 2008 [13:39]

Elman Rustamov: "Azerbaijan has passed to the most conservative model of country's monetary reserves management"

Azerbaijan has passed to the most conservative model of country's monetary reserves management, said chairman of the board of the National Bank of Azerbaijan Elman Rustamov.
24 October 2008 [12:14]

Elman Rustamov: "We will spare no efforts for the world financial crisis to bypass us"

Azerbaijan has no fundamental grounds for the world economic crisis to influence it, said chairman of NBA directors' board Elman Rustamov.
24 October 2008 [11:50]

Ilham Shaban: "Azerbaijan Economic Development Ministry has made an unreal forecast"

The Ministry of Economic Development has developed an unreal forecast for 2009, said Ilham Shaban, head of the center of oil studies.
24 October 2008 [11:04]

Oqtay Ahverdiyev: "The world financial crisis has affected Azerbaijan only partially"

It is possible to say that Azerbaijan has not sustained losses from the world financial crisis, said famous political economist Oqtay Ahverdiyev.
24 October 2008 [09:56]

General director of CIS Financial and Banking council: "Azerbaijan can become a participant of the CIS united payment system"

Azerbaijan, Russia, Kazakhstan and, perhaps, Ukraine and Belarus can become members of the united payment system of the CIS states, considers Pavel Nefidov, general director of the CIS Financial and Banking council.
24 October 2008 [09:47]

Azerbaijan may become one of the financial centers of CIS

Azerbaijan may become one of the financial centers of the CIS due to its rapid economic growth and stably developing banking sector, said chairman of the IBA-Moscow board Fuad Abdullayev at a press conference in Baku.
23 October 2008 [15:08]

Romanian-Azerbaijani business forum held in Bucharest

Romanian-Azerbaijani business forum was held in Bucharest on October 20-23, reported sources from the Azerbaijani embassy to Romania.
23 October 2008 [14:18]

Baku-Kars air flights to be suspended

Azerbaijani Turan Air will suspend Baku-Kars flights from October 24 of this year, sources from Turan Air told APA.
22 October 2008 [17:30]

Several new bridges to open in Azerbaijan this year

A number of bridges, pedestrian crossings and tunnels will be opened for use in Baku and Khirdalan by the end of this year.
22 October 2008 [16:31]

Nazim Mamedov: "Over 95% of privatized enterprises are idle in Azerbaijan"

Over 95% of privatized enterprises are idle in Azerbaijan, said Nazim Mamedov, member of the permanent parliamentary commission on economic policy.
22 October 2008 [13:17]

Newly erected buildings continue growing expensive

Public association "Real estate market participants" has drawn conclusions of the monitoring of the state of the primary residence market in the Azerbaijani capital for September of 2008.
21 October 2008 [15:49]

Romanian-Azerbaijani business forum starts in Bucharest

The Romanian-Azerbaijani business-forum started in Bucharest on October 21 under steering support of the Azerbaijani Entrepreneurs Confederation and German Technical Cooperation Society.
21 October 2008 [14:53]

Foreign investments in Azerbaijan make AZN 100,000,000 in September

In January-September of 2008 Azerbaijan received investments of AZN 1,727,600,000 (11.8% lower as compared to the same period of the last year and AZN 100,000,000 that in January-August).
20 October 2008 [17:13]

Azerbaijan generates 14,910,400,000 KW-Hs of electric power through 9 months

Through 9 months of 2008 Azerbaijan generated 14,910,400,000 KW-Hs of electric power, which is 1.6% lower over the last year.
20 October 2008 [16:05]

Cost of a square meter of nonresidential objects makes $3,661 in Baku

The public association "Real estate market participants" has drawn conclusions of the monitoring of the state of the market of nonresidential areas in the capital of Azerbaijan in September of 2008.
20 October 2008 [15:39]

Volume of industrial production of Azerbaijan makes AZN 24.2 bln within 9 months of this year

In January-September of 2008 Azerbaijan produced industrial goods and provided services in the amount of AZN 24.2 bln, which is 12% higher over the past year.
20 October 2008 [15:19]

Azerbaijan to cut military spending

Azerbaijan has cut defense and security spending outlook by 10.3% in the 2009 state budget blueprint, compared to the approved forecast for 2008.
20 October 2008 [12:27]

EUR 300 mln to be invested to reconstruction of concrete plant in Garadagh

Swiss Holcim, which is a main owner of Garadagh-cement, plans to invest EUR 300 mln to the reconstruction of the plant by 2011, said general manager of the plant Horia Adrian.
20 October 2008 [12:01]

National Bank of Azerbaijan rebuts information about bankruptcy of leading banks of Azerbaijan

The National Bank of Azerbaijan (NBA) is refuting the information about the bankruptcy of the leading banks of the country.
18 October 2008 [09:39]

Number of mobile communication users in Azerbaijan grows 1,200,000 through 9 months

In January-September of this year the volume of services, provided by communication enterprises to individuals and legal entities, made AZN 661,000,000, which is 30.2% higher over the previous year.
18 October 2008 [09:07]

Cost of most expensive hundreds part of land makes $425,000 in Baku

The public association "Real estate market participants" drew conclusions of the monitoring of the state of the market of lands in the capital of Azerbaijan for September of 2008.
17 October 2008 [17:10]

Pension financing requires AZN 120,000,000 per month in Azerbaijan

In January-September of 2008 the profits of the state fund of social protection of Azerbaijan made AZN 959,000,000, which is 34% higher over the past year and 0,1% over the forecast.
17 October 2008 [15:49]

Ukrainian buses to be assembled in Baku

17 October 2008 [12:53]

Supplies of Azerbaijani gas to Dagestan negotiated

The State oil company of Azerbaijan and Gazprom are negotiating on supplies of Azerbaijani gas to Dagestan on the basis of direct sales or swap.
17 October 2008 [09:09]

Azerbaijani GDP makes AZN 30.4 bln through 9 months

In January-September of 2008 Azerbaijani GDP made AZN 30.4 bln, which is 15% rise, as compared to the same period of the last year.
16 October 2008 [15:26]

Third Novaya Armada tanker delivered to Palmali company

An act on the third tanker of a new project RST22, named Bashir Safaroglu and ordered by Palmali, has been signed at Krasnoye Sormovo plant.
16 October 2008 [10:12]

Has the Armenian Central Bank demanded to check the activity of Western Union in Russia?

The story concerning the work of Western Union in Nagorno-Karabakh has aroused the interest of the Bank of Russia, reports Vedomosti newspaper.
15 October 2008 [09:04]

Kasmornefteflot's vessels fulfilling orders of Caspian littoral states

The Heydar Aliyev facility will be delivered to the Yalama field on the north of the Caspian Sea by means of the vessels Andoga, Nercha and Vadim Seidov of Kasmornefteflot.
14 October 2008 [13:26]

Delegation of German businessmen to arrive in Azerbaijan

Representatives of seven enterprises of German land of Northern Rein-Westphalia, as well as the commercial-industrial chamver of Dortmund will be visiting Azerbaijan on October 20-24, reported sources in the German embassy to Azerbaijan.
14 October 2008 [12:17]

NBA reduces refinancing rate to annual 12% to ensure financial stability of banking system

The board of the National Bank of Azerbaijan decided to reduce the refinancing rate from annual 15% down to 12% and the maximum limit of the cap and floor from 20% to 17%, according to the press service for NBA.
13 October 2008 [13:48]

AZN 2 bln to be allocated for railway development in Azerbaijan

The state program for development of Azerbaijani railway has been worked out for 2009-2012.
13 October 2008 [09:58]

Kazakhstan oil pumping by BTC to start in late October

Pumping Kazakh oil to the BTC pipeline will start in the second half of October, sources from BP-Azerbaijan told Interfax-Azerbaijan.
13 October 2008 [09:43]

First passenger aircraft lands in Lenkoran

The first passenger aircraft operating by Baku-Lenkoran landed in Lenkoran Saturday.
11 October 2008 [12:41]

Mirvari Gahramanly: "Azerbaijani workers receive an insignificant part of the oil pie as compared to foreigners"

The rights of workers are violated not only in foreign companies but also in SOCAR", said Mirvari Gahramanly, chairman of the committee of protection of oil workers rights and famous human rights activist.
11 October 2008 [11:18]

IMF says Azerbaijan leading on GDP among CIS states in 2008-2009

The International Monetary Fund has released the World Economic Outlook.
11 October 2008 [10:57]

Jalilabad-Yardimli highway is being laid

The highway, connecting the regional centers of Jalilabad and Yardimli regions of Azerbaijan is being reconstructed.
11 October 2008 [10:20]

Serik Primbetov: "Azerbaijan and Kazakhstan will cope with the role of alternative energy suppliers for Europe"

Day.Az interview with ambassador extraordinary and plenipotentiary of Kazakhstan to Azerbaijan Serik Primbetov.
11 October 2008 [09:30]

IMF says inflation rate will make 22.4% in Azerbaijan in 2008

The International Monetary Fund has released the first two chapters of World Economic Outlook in Washington.
10 October 2008 [16:29]

SOCAR's fund of production wells makes 6,053

The fund of production wells of the State Oil Company (except for joint ventures and operating companies) makes 6,053 as of October 1 of this year.
10 October 2008 [14:03]

Oil production from Western Azeri platform resumed

BP-Azerbaijan has resumed oil production from Western Azeri platform, said spokesman for the company Tamam Bayatli, according to Interfax-Azerbaijan.
10 October 2008 [13:11]

41 new underground stations to be constructed in Azerbaijani capital in the next 17 years

The construction of 41 metro stations is planned for the next 17 years.
10 October 2008 [12:20]

Azerbaijani lift vessel participates in Turkmen oil fields development

The lift vessel Ramiz Hajiyev of the Caspian maritime oil fleet of SOCAR has been participating in the development of the Turkmen oil fields for already six months.
10 October 2008 [12:12]

Azerbaijan’s oil output to drop sharply in a decade

Oil output is expected to drop to nearly 45 - 50 million tonnes in 2018 after a peak of production, State Oil Company of Azerbaijan said.
10 October 2008 [10:27]

Nikolae Ureke: "Events in Georgia accelerated the Europe's search of new energy sources"

Day.Az interview with Romanian ambassador extraordinary and plenipotentiary to Azerbaijan Nikolae Ureke.
10 October 2008 [09:00]

President of Azerbaijan inaugurates Jabber Hashimov tanker

President of Azerbaijan Ilham Aliyev attended a commissioning ceremony for a new oil tanker bearing the name of Jabbar Hashimov at the Baku Sea Port on Thursday.
09 October 2008 [17:12]

Finnish companies interested in investing to Azerbaijan's ICT sector

Prospects of cooperation in the sphere of information and communication technologies between Azerbaijan and Finland were discussed in Baku today.
09 October 2008 [16:42]

Salt producing plant to be launched in Azerbaijan in Q3 of 2009

An enterprise on production of iodine sale in Azerbaijan will be commissioned in the 3rd quarter of 2009, said chairman of the department for business and investment management of Azersun Holding Mehran Mamedov.
09 October 2008 [15:30]

Paper processing plant to open in Azerbaijan

Azersun Holding has started construction of a new paper wastes processing plant in Sumgayit.
09 October 2008 [15:02]

Korean railway delegation arrives in Azerbaijan

The Korean railway delegation, led by general manager of the authorized railway body of Korea Yon Hae Sin arrived in Azerbaijan today, said spokesman for Azerbaijan State Railway Company Nadir Azamamedov.
09 October 2008 [14:19]

President of Azerbaijan receives Finland's Minister of External Trade and Development

President of Azerbaijan Ilham Aliyev received a delegation, led by Finland's Minister of External Trade and Development Paavo Vajrinen, reports Day.Az with reference to the official website of the President of Azerbaijan.
09 October 2008 [14:05]

Oil Museum of Azerbaijan to be designed by Turkish specialists

The commission of international tender for development of the design concept of the Azerbaijan Oil Museum held itsd last session.
09 October 2008 [10:16]

Growing global financial crisis will affect the economic projects of Azerbaijan

Ilham Shaban, chief of the Center of Oil Researches, considers that the global financial crisis will have a negative impact on the main economic projects of Azerbaijan, connected with production and transportation of oil.
09 October 2008 [09:56]

Azerbaijan ranking 69th in Global Competitiveness Report 2008-2009

The World Economic Forum has released the Global Competitiveness Report for 2008-2009.
09 October 2008 [09:44]

AZPROMO interested in opening representative office in Turkmenistan

Azerbaijan Export and Investments Promotion Foundation voiced interest in opening a representative office in Turkmenistan.
09 October 2008 [09:38]

Italy invites Azerbaijan to hold presentation of investment opportunities

Azerbaijan Export and Investment Promotion Foundation received an invitation to hold a seminar on country's investment opportunities in Italy.
09 October 2008 [09:08]

Polish ambassador to Azerbaijan: "We hope for success of the energy summit in Baku"

Day.Az interview with ambassador extraordinary and plenipotentiary of Poland to Azerbaijan Kshishtov Krayevski.
08 October 2008 [16:13]

Economic Development Minister: "Inflation rate will range between 12-14% in Azerbaijan in 2009"

Inflation rate will range between 12-14% in Azerbaijan in 2009, according to the forecasts of the Economic Development Minister, said Economic Development Minister Heydar Babayev.
08 October 2008 [16:01]

Azerbaijani Economic Development Ministry prepares proposals on AIC external investment activity

Azerbaijani Ministry of Economic Development has prepared and introduced to the presidential administration proposals on investing abroad by the Azerbaijan Investment Company, said Azerbaijani Economic Development Minister and head of AIC observation council Heydar Babayev.
08 October 2008 [15:42]

Azerbaijan declares tender for detailed protection of port construction in Alyat

A tender on development of detailed projection has been declared in the framework of the project of construction of an international trade seaport in Alyat settlement, said Azerbaijani deputy transport minister Musa Panakhov.
08 October 2008 [14:32]

Heydar Babayev: "Oil prices will not go lower than $80 per barrel"

Azerbaijan does not intend to change the state budget forecasts about the oil prices due to their decline on the world markets, said Azerbaijani Economic Development Minister Heydar Babayev.