Business

18 June 2008 [16:29]

Azerbaijan produces 19.9 mln tons of oil and 9.8 bln cubic meters of gas

Azerbaijan produced 19.9 mln tons of oil and 9.8 bln cubic meters of gas (including 6.5 bln cubic meters for sale) in January-May of 2008.
18 June 2008 [16:06]

Korean railway delegation arrives in Azerbaijan

The Korean railway delegation comprising ten people arrived in Azerbaijan yesterday, said spokesman for Azerbaijan Railway Administration Nadir Azmamedov, reports Day.Az.
18 June 2008 [15:53]

Air flight from Baku to Makhachkala to be launched on June 24

A new air flight to connect the capital cities of Azerbaijan and Daghestan will open on June 24.
18 June 2008 [14:08]

Azerbaijan ranking 76th in Global Enabling Trade Report

The World Economic Forum has released a report on global enabling trade among 118 countries within 2008.
18 June 2008 [10:56]

World Bank OKs $164 mln for Azerbaijan oil cleanup

The World Bank on Tuesday approved three projects worth $164 million to clean up Azerbaijan's Absheron Peninsula, polluted by years of onshore oil production and posing health risks to millions of people who live in the area.
18 June 2008 [10:52]

Ashgabat hosts Azerbaijan-Turkmenistan business forum

The Azerbaijan-Turkmenistan business forum was held in Ashgabat on June 17.
18 June 2008 [09:56]

President of Tatarstan: "It was decided to give an impetus to further development of relations on the basis of the previously signed agreements between Tatarstan and Azerbaijan"

President of Tatarstan Mintimer Shaymiyev in Kazan received Prime Minister of Azerbaijan Artur Rasizade.
18 June 2008 [09:33]

Baku to host international conference "Oil and gas potential of Azerbaijan and Turkmenistan: energy, economy and environment. Strategy of cooperation"

President of Azerbaijan Ilham Aliyev issued an order on the organization of the international conference entitled "Oil and gas potential of Azerbaijan and Turkmenistan: energy, economy and environment. Strategy of cooperation" in Baku.
17 June 2008 [16:18]

500th tanker load of oil pumped by Baku-Tbilisi-Ceyhan pipeline

The group of Baku-Tbilisi-Ceyhan export pipeline, operated by BP, has load the 500th tanker with Azerbaijani oil.
17 June 2008 [15:44]

Tatarstan's Prime Minister: "We want to develop cooperation with Azerbaijan in the economic and cultural fields"

A presentation of the economic potential of Tatarstan was held for the members of the Azerbaijani delegation in the Tatarstan Cabinet of Ministers Tuesday.
17 June 2008 [15:33]

Azerbaijan will bring roads in line with international standards over the next decade

Azerbaijan will bring the country’s roads in line with international standards within 2018-2020.
17 June 2008 [15:30]

Representative of Iranian railway administration speaks for creation of consortium on North-South railway corridor construction

Creation of the international consortium for implementation of the project of North-South transport corridor will accelerate commissioning of this route, intended to connect the railway networks of China and India with the European one.
17 June 2008 [15:06]

President of Azerbaijan receives Iranian Energy Minister - UPDATED

President of Azerbaijan Ilham Aliyev received a delegation led by Iranian Energy Minister Seid Perviz Fattah, reports the press service for the Azerbaijani President.
17 June 2008 [14:40]

OSCE initiates seminar on food security in Azerbaijan

A seminar "Current state and problems of agriculture of the Lenkoran economic region" was held in Jalilabad by OSCE initiative.
17 June 2008 [14:12]

Natik Aliyev: "Turkmenistan may join the interconnected electricity network in the South Caucasus"

Turkmenistan may also join the proposed circular electricity network interconnection system among Azerbaijan, Turkey, Iran, Georgia and Russia.
17 June 2008 [13:49]

Turkmen-Azerbaijani economic forum held in Ashgabat

The first Turkmen-Azerbaijani economic forum opened in Ashgabat on June 15.
17 June 2008 [09:42]

Imair launches Baku-Bodrum flights

Azerbaijan’s Imair airlines company will carry out the direct flights Baku-Bodrum beginning from June 15.
17 June 2008 [09:30]

Societe Generale to allot $140 mln for construction of oil and gas terminal in Sangachal

French Societe Generale will allot a credit in the amount of $140 mln for the project of construction of an oil and gas terminal in Sangachal, reported deputy chief executive of the Azerbaijan Investment Company Riad Qasimov.
17 June 2008 [09:21]

Baku to host Azerbaijan-Turkmenistan oil and gas conference

Baku will host the conference "Oil and gas of Turkmenistan and Azerbaijan" in the first half of September of 2008.
17 June 2008 [09:14]

Construction of a new shipyard in Azerbaijan may take less than $400 mln

The cost of the project of construction of a new shipyard in Azerbaijan may take less than earlier predicted $400 mln, said deputy chief executive of the Azerbaijan Investment Company Riad Qasimov.
14 June 2008 [10:19]

Japan's Chiyoda eyes petchem projects in Azerbaijan

Japan's Chiyoda Corp. wants to partner Azerbaijan's state energy firm SOCAR in the construction of petrochemical plants in the ex-Soviet state and in neighbouring Turkey, SOCAR said on Friday.
14 June 2008 [09:47]

Azerbaijan Investment Company may become co-founder of other investment companies

The Azerbaijan Investment Company received several proposals regarding creation of a joint investment company, similar to the Caspian International Investment Company (CIIC), said AIC chief executive Anar Akhundov.
14 June 2008 [09:04]

BNP Paribas assigns $320 mln for road project to Azerbaijan

A credit agreement was signed yesterday in the Ministry of Transport of Azerbaijan with French bank BNP Paribas on project of reconstruction of Baku-Shamakhi-Yevlakh, Yevlakh-Zaqatala-Georgian border highways.
13 June 2008 [17:50]

Heydar Babayev: "Price hike on building materials is caused by the decline in proposal on the market"

The Economic Development Ministry has finished monitoring of building materials on the market, said Economic Development Minister Heydar Babayev.
13 June 2008 [17:35]

Azerbaijani employees of Caspian Shipyard company suspend the strike - UPDATED

Representatives of the trade union of oil and gas workers of Azerbaijan met with management of Caspian Shipyard company.
13 June 2008 [16:36]

Heydar Babayev: "It is not planned to increase loan rates from the National Fund of Assistance to Entrepreneurship"

Economic Development Ministry has submitted proposals to the Azerbaijan presidential administration regarding self-financing of the National Fund of Assistance to Entrepreneurship, said Azerbaijan Economic Development Minister Heydar Babayev.
13 June 2008 [15:52]

Sabir Rustamkhanly: "Documents for issue of addressed social aid are falsified in the regions of Azerbaijan"

The parliament of Azerbaijan has adopted changes to means criteria and principles of adopting documents for issue of addressed social aid.
13 June 2008 [15:24]

Heydar Babayev: "Azerbaijan is able to meet 70% of its demands of food"

"Azerbaijan would have been able to meet 70% of its demands of food under the due organization", said Economic Development Minister Heydar Babayev.
13 June 2008 [14:36]

Caspian International Investment Company to select first projects for participation by autumn

The Caspian International Investment Company (CIIC) starts operating today, said chief executive of the company Toghrul Kocharli.
13 June 2008 [14:23]

Draft state program on food safety submitted to Azerbaijan's Cabinet of Ministers

The Economic Development Minister of Azerbaijan has completed work over the draft state program on reliable provision of foodstuffs to the population, said Economic Development Minister Heydar Babayev.
13 June 2008 [10:13]

Well of 30 tons daily output drilled in Neft Dashlary field

The 1908th well has been launched at five-bloc platform No 1887.
12 June 2008 [17:03]

40 buses will soon be delivered to Azerbaijan

Azerbaijan’s Nihad Motors will receive a shipment of 40 Shaolin-AJQA 6660 buses from China in a few days.
12 June 2008 [15:53]

Azerbaijani government assigns AZN 1,270,000 of grants for local NGOs

The Council under the President of Azerbaijan has declared a tender for best projects among NGOs, said member of the council, chairman of the public forum "Constitution" Alimamed Nuriyev.
12 June 2008 [12:54]

Site for construction of research nuclear reactor in Azerbaijan defined

IAEA representatives are visiting Azerbaijan, said chief of the Institute for Radiation Problems of Azerbaijani National Academy of Science Adil Qaribov.
12 June 2008 [11:08]

Azercell distributor sells false numbers of this company

Four employees of the Mobistar phone company have been arrested in Baku as a result of operative measures taken by the law-enforcement bodies.
12 June 2008 [10:08]

SOCAR not intending to be shareholder in Nabucco gas pipeline construction

"The State Oil Company of Azerbaijan does not intend to become a shareholder in the Nabucoo gas pipeline construction", SOCAR president Rovnaq Abdullayev told reporters.
12 June 2008 [10:02]

Georgian Energy Minister: "Georgia will continue receiving gas from Azerbaijan"

"Georgia will continue receiving gas from Azerbaijan", said Georgian Energy Minister Alexander Khetaguri.
11 June 2008 [09:53]

Alan Waddams: "EU tries to support Azerbaijan in its WTO accession"

Head of the European Commission's representative office in Azerbaijan Alan Waddams announced that EU will support Azerbaijan in its accession to the World Trade Organization (WTO).
11 June 2008 [09:32]

Vegetables, imported from Turkey, dangerous for health

Rosselkhoznadzor banned import of Turkish vegetables to Russia due to Turkey's systematic violation of international and Russian requirements while supplying fruits and vegetables.
10 June 2008 [13:46]

National Bank of Azerbaijan raises discount rate to 15%

The National Bank of Azerbaijan has passed a decision at a board meeting to raise the discount rate from 14% to 15%, leaving the interest rate corridor unchanged.
10 June 2008 [13:21]

Center of Economic Research: "Inflation rate made 28.45% through the past year"

Index of consumer prices on Azerbaijan has risen by 1.43% on Azerbaijan, by 1.71% on Baku and by 1.08% on country's regions.
09 June 2008 [17:00]

Head of Islamic Development Bank to visit Azerbaijan

The 33rd annual session of the Director's Board of the Islamic Development Bank was held in Jidda city (Saudi Arabia) on June 3-4.
09 June 2008 [14:40]

IDA and IBRD to finance ecological programs in Azerbaijan

The WB group and the government of Azerbaijan have prepared a joint ecological program.
09 June 2008 [12:21]

2,239 foreigners permitted to work in Azerbaijan since early 2008

2,239 foreigners got individual permission for work in Azerbaijan in January-May of 2008, said spokesman for Azerbaijan's Ministry of Labor and Social Protection Elnur Kalantarov.
09 June 2008 [11:35]

AzAL launches direct flights between Baku and Antalya

Azerbaijan Airlines Company has started operating direct flights between Baku and Antalya from June 9.
09 June 2008 [10:21]

Azerbaijan to raise gas supplies to Georgia

The State Oil Company of Azerbaijan plans a significant rise in the supplies of natural gas to Georgia, says abc.az with reference to chief of SOCAR department for gas operations Kamal Abbasov.
07 June 2008 [09:15]

Iranian deputy foreign minister calls on Azerbaijani entrepreneurs to invest into Iranian economy

Iranian deputy foreign minister Ali Reza Sheikh Attar announced that the Iranian side will support opening of banks, created in cooperation with Azerbaijan, on its territory.
06 June 2008 [17:33]

About 500 foreigners buy immovable property in Azerbaijan

The number of foreign citizens, who bought immovable property in Azerbaijan, makes 500 people, said chief of the State Real Estate Registration Service Arig Qarashov at a press conference today.
06 June 2008 [15:49]

Stand of Azerbaijani Caspel company declared most original one at the exhibition "Caspian Oil and Gas" - PHOTO

Organizers of the exhibition "Caspian Oil and Gas" awarded 4 participants for preparation of stands.
06 June 2008 [09:05]

Azerbaijan may lay one more export gas pipeline

Azerbaijan may need to lay another gas pipeline for transportation of its gas to the world markets, said first vice president of the State Oil Company of Azerbaijan Khoshbakht Yusifzade.
05 June 2008 [17:24]

Intel corporation: "We will provide access to computer and internet for each citizen of Azerbaijan"

World famous corporation Intel, Azerbaijan's Ministry of Communication and Information Technologies and Azerbaijan's Ministry of Education have signed a protocol on expanding cooperation in the spheres of IT development.
05 June 2008 [17:09]

Baku-Supsa pipeline to be launched after repair

The Supsa port will launch the first Azeri Light oil shipment of 80,000 tons in late June, following commissioning of the western route, idle since 2006.
05 June 2008 [16:54]

Azerbaijan offers to pump Kazakh and Turkmen oil by Baku-Novorossiysk route

Azerbaijan offers to Russia to come to an agreement on transportation of Kazakh and Turkmen oil by the Baku-Novorossiysk pipeline.
05 June 2008 [15:53]

President of Azerbaijan: "IT-sector is one of the priority spheres in Azerbaijan's economic development"

President of Azerbaijan Ilham Aliyev received a delegation led by president of Intel company Craig Barrett, reports the press service for the President.
05 June 2008 [14:27]

President of Azerbaijan receives general chief executive of Statoil Hydro

President of Azerbaijan received a delegation led by general chief executive of Statoil Hydro Helge Ling, says the press service for the president.
05 June 2008 [13:55]

Natik Aliyev: "It is not profitable for Azerbaijan, as a gas reserves owner, to make forecasts for 5 and 10 years"

Azerbaijan will not sign long-term agreements on gas supplies to Georgia.
05 June 2008 [12:41]

Georgian Energy Minister: "Eurasian transport corridor will allow processing Caspian oil at the refineries of Europe and Western Ukraine"

Azerbaijan and Kazakhstan will be able to export nearly 250 mln tons of oil per year by 2020, said Georgian Energy Minister Alexander Khetaguri at the international exhibit "Caspian Oil and Gas".
05 June 2008 [11:36]

IAEA representatives to visit Baku

05 June 2008 [09:05]

Iranian Deputy Foreign Minister: "Iran's participation in Nabucco pipeline is negotiated"

"Iran's participation in Nabucco pipeline is negotiated", said Iranian Deputy Foreign Minister Alireza Sheikh Attar, visiting Azerbaijan.