Business

04 June 2008 [16:16]

Azerbaijan's Industry and Energy Minister: "BP should accelerate Stage-2 of еру Shah Deniz project"

The pick of gas extraction in the framework of Stage-2 of the Shah Deniz field development can be raised up to 30 bln cubic meters per year, reported Azerbaijan's Minister of Industry and Energy Natik Aliyev.
04 June 2008 [15:01]

Khoshbakht Yusifzade: "Annual gas extraction to make 23 bln cubic meters per year in 2015"

The annual gas extraction in Azerbaijan will exceed 23 bln cubic meters of gas per year, said SOCAR vice president Khoshbakht Yusifzade at the international exhibit Caspian Oil and Gas.
04 June 2008 [14:47]

Azerbaijan not in a hurry to sign quadripartite agreement on transit of Azerbaijani gas to Europe

Azerbaijan's Minister of Energy and Industry Natik Aliyev is to leave for Greece to hold talks regarding the quadripartite agreement on transit of Azerbaijani gas to Europe, said the Minister.
04 June 2008 [13:28]

Vasili Istratov: "Gazprom's offer to buy Azerbaijani gas is long-term and commercial"

Gazprom's offer to buy Azerbaijani gas is long-term and commercial, said Russian ambassador to Azerbaijan Vasili Istratov.
04 June 2008 [09:36]

Peter Semneby: "European Union will assist in expansion of cooperation between Azerbaijan and Turkmenistan"

Energy issues are basic in cooperation between Azerbaijan and the European Union, said EU special representative on South Caucasus Peter Semneby at a press conference by results of the visit to Baku.
03 June 2008 [16:00]

Arthur Rasizade: "Azerbaijan will not have problems with grain supply"

The government of Azerbaijan currently considers appeal of poultry enterprises of the country about releasing forage import from VAT, said country's Prime Minister Arthur Rasizade.
03 June 2008 [14:00]

Azerbaijan prepares draft state program on provision of food safety

The Azerbaijani government is working at the state program on reliable supply of foodstuffs to the population, country's Prime Minister Arthur Rasizade told reporters.
03 June 2008 [13:15]

Arthur Rasizade: "The government of Azerbaijan will try to keep inflation rate on the level of 18%"

The government of Azerbaijan will try to keep inflation rate on the level of 18%, said country's Prime Minister Arthur Rasizade.
03 June 2008 [11:14]

Israel interested in Azeri gas importation

SOCAR president Rovnag Abdullayev received Israel`s National Infrastructure Minister Binyamin Ben-Eliezer.
03 June 2008 [10:19]

Gazprom in deal with Azerbaijan

Russian energy giant Gazprom said Monday it reached an agreement to purchase natural gas from Azerbaijan at European market prices.
02 June 2008 [16:14]

Azerbaijan-Belarus business forum held in Minsk

The Azerbaijan-Belarus business forum was held in Minsk on June 2.
02 June 2008 [15:57]

RWE Director General on commercial issues: "Europe is interested in the implementation of Nabucco project"

President of the State Oil Company Rovnag Abdullayev received director general on commercial issues Stephan Judich and director general on operative issues of RWE company Tomas Rappun.
02 June 2008 [13:09]

Tanker Nasiba Zeynalova launched into the sea

The Krasnoye Sormovo shipyard launched the second tanker of the new project RST22 for Palmali Group.
02 June 2008 [11:30]

Bulgaria Economy Minister to negotiate gas supply with Azerbaijan - UPDATED

Bulgarian Economy Minister Petar Dimitrov will travel to Azerbaijan to negotiate natural gas supply for Bulgaria, reports Sofia news agency.
02 June 2008 [09:55]

Azerbaijan to launch new brewery

Unileasing company (www.unleasing.az) has started implementation of a project on financing purchase of equipment for brewery in Khachmaz.
02 June 2008 [09:26]

Islamic Development Bank ready to assist to creation of a bank, functioning by Shari'ah laws, in Azerbaijan

The Islamic Development Bank is ready to assist in creation of a bank, functioning by Shari'ah laws, in Azerbaijan, said chief of IDB regional representative office Nick Zeynal Abidin.
02 June 2008 [09:19]

Islamic Development Bank ready to finance infrastructural projects in Azerbaijan

Islamic Development Bank discusses possible participation in financing of the electric energy project with the government of Azerbaijan, said chief of IDB regional representation Nick Zeynal Abidin.
02 June 2008 [09:10]

National Bank studies possible functioning of Islamic banking in Azerbaijan

The National Bank of Azerbaijan studies possible creation of conditions for activity of Islamic banking in the country.
02 June 2008 [08:58]

Azerbaijan's National Bank supports participation of foreign brand banks in the local market

Several foreign brand banks display interest in the market of Azerbaijan.
30 May 2008 [17:39]

Overall assets of Azerbaijani banks make AZN 7.67 bln

The assets of Azerbaijan's banking sector have risen by 79.9% since May 1 of 2007, said a source from the National bank of Azerbaijan.
30 May 2008 [13:09]

Azerbaijan's Economic Development Minister to take part in annual session of IDB directors' board

The 33rd annual session of the Directors' Board of Islamic Development Bank is to be held in Jidda city (Saudi Arabia) on June 3-4.
30 May 2008 [11:23]

Kazakhstan ratifies oil transit treaty with Azerbaijan

Kazakhstan has ratified a treaty with Azerbaijan allowing Kazakh crude to be pumped through a pipeline linking Azerbaijan's Caspian coast to Turkey's Mediterranean coast, the Kazakh presidential administration said.
30 May 2008 [09:28]

Ukraine ambassador to Azerbaijan: "We would like Azerbaijan to join the project of container transportations via Georgian ports to Central Asia"

Azerbaijan is interested in joining the container transportation by Claipeda-Ilichevsk route, said Ukraine's ambassador to Azerbaijan Boris Klimchuk.
29 May 2008 [16:57]

Azerbaijan to build oil refinery in Ukraine

Azerbaijan does not intend to buy existing oil assets in Ukraine.
29 May 2008 [13:48]

Baku hosts GUAM development strategy conference

"GUAM member countries establish their activities on the basis of regional cooperation and development", said Valeriy Chechelashvili, GUAM Secretary General at the GUAM development strategy conference in Baku, APA reports.
29 May 2008 [13:05]

World Food Program to stop operating in Azerbaijan

"The world experiences problem of food security today, which does not bypass Azerbaijan. Therefore the country's government has been taking due measures for already a year".
29 May 2008 [12:52]

Israeli Infrastructure Minister to visit Azerbaijan

Israeli National Infrastructure Minister Benjamin Ben-Eliezer will visit Azerbaijan next week, APA reports with reference to Israeli sources.
29 May 2008 [12:49]

Deputy Oil Minister of Iran: "Tehran is closely watching the development of Azerbaijani economy, including the oil and gas sector"

President of the State Oil Company of Azerbaijan Rovnag Abdullayev received a delegation led by deputy minister of oil and general manager of the Iran National Gas company Seid Rza Kesaizade.
29 May 2008 [10:43]

Azerbaijan takes part in meeting of chiefs of CIS and Baltic railway departments in Bishkek

The 48th session of the Council of heads of CIS and Baltic railway departments held in Bishkek, Kyrgyzstan.
29 May 2008 [09:00]

WB to lend $248,800,000 to Azerbaijan

The World Bank passed a decision to allot new credits to Azerbaijan.
27 May 2008 [17:41]

Heydar Babayev: "Prices are not expected to rise in Azerbaijan by the end of this year"

The tariff council has not received an appeal regarding price hike, said Heydar Babayev, Economic Development Minister of Azerbaijan, who is also the head of the Tariff Council.
27 May 2008 [16:31]

Foreign Minister: "Azerbaijan is interested in creation of free trade area with the Middle Asian countries and in access to the Asian market"

Today Azerbaijani Foreign Minister Elmar Mamedyarov received UAE External Trade Minister Sheikha Lubna bin Khalid, visiting Baku, reports the press service for the Azerbaijani Foreign Ministry.
27 May 2008 [12:58]

First Azerbaijan-Turkmenistan business forum to be held in Ashkhabad

The first Azerbaijan-Turkmenistan business-forum will be held in Ashkhabat on June 16-17.
27 May 2008 [10:02]

UAE, Azerbaijan sign protocol by results of first session of intergovernmental commission in Baku

The first session of the intergovernmental commission on economic, trade and technical cooperation between Azerbaijan and UAE, held in Baku, resulted in signing a protocol.
26 May 2008 [16:28]

Bahar-Hovsan-Surakhany gas pipeline to be launched in Azerbaijan this year

The Bahar-Hovsan-Surakhany gas pipeline will be launched in by the end of this year.
26 May 2008 [09:54]

First Azerbaijani international business-conference to be held in Shamakhi

The first Azerbaijani international business-conference will be held in Shamakhi on May 27.
23 May 2008 [16:44]

Bulgarian company changes its mind about investing $10,000,000 to Azerbaijan due to absence of favorable conditions in the country.

Provider of cable television, internet and communication-Bulgarian CableTEL intends to reject the declared investment plan on creation of the cable television network in Azerbaijan.
23 May 2008 [13:39]

Ismet Abbasov: "Bread price hike is mainly caused by the spread rumors about the so-called possible grain deficit in Azerbaijan"

Additional 100,000 hectares have been sown with grain in Azerbaijan, which means additional 300,000-350,000 tons of grain.
22 May 2008 [11:54]

Armenian President: "Opportunities for the peaceful resolution of Nagorno Karabakh conflict have not been exhausted yet"

Deepening of Armenia's cooperation with EU will accelerate democratization and development of the country's economy.
22 May 2008 [09:47]

Sabit Baghirov: "Azerbaijan-Turkmenistan cooperation in the sphere of fuel and energy complex has good prospects"

The first visit of Turkmen president to Azerbaijan opens new prospects of bilateral cooperation, including in the fuel and energy complex.
21 May 2008 [14:57]

Water supply restored - UPDATED

Sumgayitelektrikshebeke has restored power supply to Azersu after its suspension at 15:00 on May 19 due to Azersu's failure to pay the debt.
21 May 2008 [13:12]

Azerbaijan invests $2 bln to transport sector development

In 2008 Azerbaijan invested $2 bln to development of the transport sector.
20 May 2008 [17:16]

Azerbaijan represented at 10th global conference on direct investments

Deputy chief executive of the Azerbaijan Investment Company Riad Qasimov attended the 10th Global Conference on Direct Investments.
20 May 2008 [16:55]

$55 mln to be spend for creation of effective transport management system in Baku - UPDATED

The project on effective transport management system creation in Baku is estimated at $55 mln.
20 May 2008 [16:42]

Azerbaijan to spend AZN 4 bln on transport sector development

Dynamics of investments to the transport sector development is increasing yearly.
20 May 2008 [16:01]

Sumgayitelektrikshebeke: "We do not arrange sabotage against Ilham Aliyev"

"It's a pity that Milli Medjlis deputy Guler Ahmedov has made such conclusions about Sumgayitelektrikshebeke".
20 May 2008 [15:22]

Azerbaijan's inflation rate reaches 17.8% by results of April

In April of 2008 the prices on consumer goods and tariffs of services have risen by 3.1% as compared to March and by 17.8% as compared to the same period of the last year.
20 May 2008 [10:41]

Water supply cut to 70% of Sumgayit city and the whole Binagadi district of Baku

"Azersu stock company has not taken any steps to pay the power debt".
20 May 2008 [10:18]

World's second longer sea bridge to be built in Azerbaijan

Korean Dongsung Engineering plans to implement the project of a sea bridge via the Baku bay within the next seven years, said representative of the Korean embassy to Azerbaijan Kim Yeong Seog.
20 May 2008 [09:30]

General agreement signed on shipyard construction in Azerbaijan - UPDATED

A general agreement on construction of a shipyard in Azerbaijan (Qaradagh settlement of Baku) was signed in Baku yesterday.
19 May 2008 [16:44]

300 Daewoo buses to be delivered to Azerbaijan

Azerbaijan's Ministry of Transport and South Korean Daewoo signed two documents today.
19 May 2008 [16:24]

Azerbaijan, South Korea to continue cooperation in railway transport

The State Railway Administration of Azerbaijan and Korean railway network have signed a memorandum of mutual understanding.
19 May 2008 [12:04]

Representation of Korean Trade and Investments Promotion Agency opens in Baku

"Azerbaijan accounts for 14 Korean companies with majority functioning successfully".
19 May 2008 [10:31]

Azerbaijan pays gas debt to Turkmenistan

Azerbaijan has paid debt for natural gas, supplied in the early 1990s, to Turkmenistan, according to Interfax.
17 May 2008 [09:23]

Mikhail Saakashvili: "The plans, which I have developed jointly with President of Azerbaijan Ilham Aliyev, are being implemented"

President of Georgia Mikhail Saakashvili, attending yesterday's opening of the Kulev terminal, called it new sea gates of the country.
17 May 2008 [09:10]

Rovnag Abdullayev: "The State Oil Company of Azerbaijan has invested $380 mln to Georgian economy"

The State Oil Company of Azerbaijan has invested $380 mln to Georgian economy.