Business

10 May 2008 [11:33]

Aras Aghalarov to invest nearly $1 billion to creation of resort area in Azerbaijan

President of the Crocus International group of companies Aras Aghalarov plans to create a resort area estimated at about $1 billion in Azerbaijan.
10 May 2008 [09:10]

Azerbaijan's Finance Minister: "Azerbaijan’s state budget revenues envision $70 per oil barrel"

Azerbaijan’s state budget revenue envisions a forecast oil price of $70 per barrel after the 2008 state budget re-adjustment, said Azerbaijan’s Minister of Finance Samir Sharifov.
10 May 2008 [09:05]

Azerbaijan's Finance Minister: "Rise in bread prices in Azerbaijan is mainly caused by external factors"

The rise in bread loaf prices is mainly caused by external factors, said Azerbaijan’s Minister of Finance Samir Sharifov.
10 May 2008 [09:01]

Kemaleddin Heydarov: "By decision of the government, grain will be kept in the storehouses of the Azerbaijan's Ministry of Emergency Situations"

The formation of the grain stocks involves the Ministry of Agriculture, Cabinet of Ministers and other structures along with the Ministry of Emergency Situations.
10 May 2008 [00:06]

More than 200 million USD was spent to build just 17 km length road to Baku airport

President of Azerbaijan Ilham Aliyev has attended the opening of 6-traffic-path concrete road in the direction of Zig circle – Heydar Aliyev International Airport on Friday.
08 May 2008 [17:33]

Azerbaijan raises gas price for Georgia

The State Oil Company of Azerbaijan (SOCAR) and Georgian National Oil and Gas Corporation signed a natural gas agreement for 2008, a source in the government of Azerbaijan told APA-Economics.
08 May 2008 [15:22]

Center of Economic Research: "Minimal pensions and wages in Azerbaijan are below the minimal consumer basket"

The cost of per capita minimal consumer basket in Azerbaijan in April of 2005 made up AZN 117.8 (about $143 by the current exchange rate).
08 May 2008 [15:10]

Ukraine Minister of Fuel and Energy: "We have no problems with supplies of Azerbaijani oil"

By the end of June the Ukraine Ministry of Fuel and Energy intends to complete talks on oil supplies to Europe by Odessa-Brody pipeline.
08 May 2008 [12:13]

President of Azerbaijan ratifies alterations to Azerbaijan's state budget for 2008

President of Azerbaijan Ilham Aliyev issued a decree on introduction of amendments and alterations to the state budget of the country for 2008.
07 May 2008 [17:02]

Volume of Azerbaijan's retail commodity turnover rises by 14.7% in January-April of 2008

Azerbaijan's retail trade turnover rose by 14.7% in January-April of 2008, as compared to the same period of the last year, up to AZN 3,185,300,000.
07 May 2008 [14:34]

Ramiz Mehtiyev: "Bread crisis will not hit Azerbaijan"

Artificial price hike on bread is not ruled out but bread crisis will not hit Azerbaijan.
07 May 2008 [13:43]

Investments to Azerbaijan's non-oil sector predicted to top $5 bln

AZN 4.2 billion (more than $5 billion)is expected in investment in Azerbaijan’s non-oil sector in 2008, said the country’s minister of economic development Heydar Babayev.
07 May 2008 [12:21]

Flour stocks make 314 tons in Azerbaijan's west

By results of the monitoring, held in the western region of Azerbaijan, the main mills of the region have stocks of about 150 tons of wheat and 314 tons of flour.
07 May 2008 [09:08]

Mortgage lending to resume in Azerbaijan

The Azerbaijan Mortgage Fund is to resume lending mortgage loans in the second half of 2008, said Elman Rustamov, Board Chair of the National Bank of Azerbaijan.
06 May 2008 [17:10]

Second Jordan exhibition and Azerbaijan-Jordan business-forum held in Baku - UPDATED

The second Jordan exhibition and Azerbaijan-Jordan business forum opened in Baku today with participation of President Ilgam Aliyev and king of Jordan Abdullah 2.
06 May 2008 [14:59]

Azerbaijan to bring its share in Black Sea Trade and Development Bank up to 5%

Azerbaijan hopes to bring its share in the Black Sea Trade and Development Bank up to 5% in June of this year.
06 May 2008 [13:53]

European Commissioner on Energy: "Russia's possible participation in Nabucco project is ruled out"

European commissioner on energy Andris Piebalgs ruled out possibility of Russia's participation in Transcaspian Nabucco gas pipeline.
06 May 2008 [11:20]

Greek Development Minister: "Greece needs the South flow gas pipeline as much as it needs the Turkey-Greece-Italy pipeline"

Greece needs the South Flow gas pipeline as much as it needs the Turkey-Greece-Italy pipeline.
06 May 2008 [10:30]

Azerbaijan to sign contracts with Oman and Arabic Emirates on WTO accession

The fifth session of the work group on Azerbaijan's accession to the World Trade Organization will be held in Geneva, Tuesday.
06 May 2008 [09:52]

Third annual conference of Azerbaijan Credit Unions Association to be held in Baku

The third annual conference of Azerbaijan Credit Unions Association (ACUA) dated to the fifth anniversary of the organization will be held in the Baku international press center on May 15-16.
05 May 2008 [13:49]

Second Jordan national exhibition and business forum to be held in Azerbaijan

The second Jordan national exhibition and business forum will be held in the Baku marine station tomorrow.
05 May 2008 [12:27]

Baku-Halab direct flight starts today

Azerbaijan State Airlines Company (AzAL) will operate the first flight between Baku and Halab (Syria) on May 5.
05 May 2008 [11:38]

Azerbaijan’s strategic monetary reserves surpass $10 bln

As of May 1, 2008 the National Bank of Azerbaijan’s official monetary reserves stood at $4 306.6 million, up 7.26% or $291.4 million from January 1.
03 May 2008 [14:39]

Azerbaijan's Minister of Agriculture: "Wheat producers will be paid additional AZN 80 per each hectare"

Wheat producers will get additional AZN 40 ($48.5%) per each hectare of land, along with those, which the government allocates to assist farmers.
03 May 2008 [12:17]

Minister of Agriculture: "Azerbaijan’s grain stock is 500,000 tons at present"

The Ministry of Agriculture is not a government body that regulates prices, said Ismat Abbasov, Azerbaijan’s Ministry of Agriculture.
03 May 2008 [10:55]

International tourism conference "Azerbaijan in each season" to be held in Baku

Tourism Institute of Azerbaijan and its international partner Krem University of Applied Sciences of Austria will hold a conference "Azerbaijan in each season" in Baku.
03 May 2008 [09:30]

State securities make up 8.88% deals at Baku Stock Exchange in January-April

The total amount of stock exchange deals on all instruments at the Baku Stock Exchange made up AZN 2,836,634,000 in January-April of 2008.
02 May 2008 [17:41]

Azerbaijan to license private houses offering hotel services

Private houses that offer hotel services will be subject to licensing in Azerbaijan in the offing, head of Baku Travels Bureau Chingiz Hasanov told APA-Economics.
02 May 2008 [16:40]

Iqbal Aghazade: "According to the data, provided by the government, Azerbaijan should have been a grain exporter"

"Alterations to the state budget of Azerbaijan is an indicator of trends of country's economic development.
02 May 2008 [15:55]

Azerbaijani Parliament starts discussing amendments to 2008 state budget

Azerbaijan’s Milli Majlis has today started discussing the "Bill on 2008 state budget amendment".
02 May 2008 [13:11]

Baku-Novorossiysk pipeline exports 159,384 tons of oil in April

SOCAR Department of Marketing and Economic Operations exported 159,384 tons of oil by the Baku-Novorossiysk pipeline.
02 May 2008 [11:25]

Sport city estimated at $2 bln to be built in Baku, Azerbaijan

A group of companies Azersun Holding starts construction of a new sport city in the capital of Azerbaijan.
02 May 2008 [09:44]

Georgia's external trade turnover with Azerbaijan rises by 76.2%

The volume of external trade turnover between Georgia and Azerbaijan rose by 76.2% as compared to the same period of the last year and made up $173,100,000 in the first quarter of 2008.
02 May 2008 [09:39]

Inflation rate may reach 40% with regard to living wage basket in late 2008

Inflation rate may reach nearly 40% in frames of living wage basket with regard to the rise in prices on bread and other foodstuffs in Azerbaijan this year.
01 May 2008 [17:13]

Azerbaijan starts monitoring of grain and flour reserves

Azerbaijan’s Ministry of Agriculture has started monitoring of the situation with grain and flour reserves in the country.
01 May 2008 [15:09]

First Amman-Baku air flight operated

Boeing-767 of Royal Jordan air company landed in the Baku international airport named after Heyday Aliyev, thus opening the direct air communication between the capitals of Azerbaijan and Jordan.
01 May 2008 [14:55]

Heydar Babayev: "Kazakh government has allowed to export grain, purchased by Azerbaijani companies"

The governments of Azerbaijan and Kazakhstan continue talks regarding the problem of export of Kazakh grain on basis of the previously paid contracts.
01 May 2008 [12:59]

Heydar Babayev: "Administrative measures of influence on inflation are ineffective in conditions of market economy"

The government of Azerbaijan admits that it will be difficult to keep inflation rate on the level of 13-14%, predicted for a year earlier, considering the processes ongoing in the world economy.
01 May 2008 [12:10]

SOFAR chief executive takes part in Global Conference Milken Institute in Los-Angeles

The Milken Institute Global Conference was held in Los Angeles on April 28-30.
01 May 2008 [11:24]

Bread rises in price in Baku, Azerbaijan

The retail price of bread has risen in the capital of Azerbaijan, Baku.
01 May 2008 [09:40]

Azerbaijan's share in Azeri-Chirag-Guneshli revenues to rise to 80% in late 2008

The share of Azerbaijani government in the development of the Azeri-Chirag-Guneshli perspective structure may reach 80% in the second quarter of this year.
30 April 2008 [16:39]

Samir Sharifov: "Oil price hike in the world lays foundation for review of its cost"

"Oil price hike in the world lays foundation for review of its cost".
30 April 2008 [16:30]

Inflation escalates by 16.5% in Azerbaijan

Inflation has escalated by 8% as of early 2008 in Azerbaijan.
30 April 2008 [15:16]

Baku-Supsa pipeline repair takes $53 mln

The repair works at the Baku-Supsa export pipeline took BP-Azerbaijan $53 mln to implement.
30 April 2008 [13:53]

Shas Deniz gas extraction to reach its top in early 2009

Extraction of gas from the Shah Deniz gas condensate field will reach its top in the framework of the first stage in the first half of 2009, after which the volume of extraction will stabilize on the said level.
30 April 2008 [10:29]

WB allocates $300 mln for highway repair to Azerbaijan

The World Bank has assigned a credit in the amount of $300,000,000 for repair of highways to Azerbaijan.
30 April 2008 [10:17]

BTC capital expenses to make up $87,000,000 this year

The volume of capital expenses of the BTC pipeline, transporting oil from the Caspian Azeri sector to Turkish port of Ceyhan, will make up $87,000,000 in 2008.
29 April 2008 [12:19]

Azerbaijan plans to raise investments to transport sector by $7 bln

The volume of investments to Azerbaijan's transport sector has been increased by over $1,000,000,000 through the last two years.
29 April 2008 [09:33]

Azerbaijan plans to gather 2,300,000 tons of wheat this year

Azerbaijan plans to gather 2,300,000 tons of wheat this year.
29 April 2008 [09:07]

Azerbaijan plans to raise 2008 state budget by over 40%

A draft law "On alterations to the 2008 state budget" has been submitted to the Azerbaijani parliament, as reported by Milli Medjlis deputy Zahid Oruj.
28 April 2008 [17:48]

Azerbaijan to take part at Bond congress of CIS and Baltic states-2008

Azerbaijan will take part in the fifth Bond congress of the CIS and Baltic states-2008 to be held in Vilnius (Lithuania) on June 19-20.
28 April 2008 [17:41]

Azerbaijan joins Eurasian economic club of scientists

Azerbaijan has joined the Eurasian economic club of scientists, founded in Astana (Karabakhstan).
28 April 2008 [17:11]

Great Britain accounts for half of investments into Azerbaijan's economy

Great Britain keeps leading by volume of external investments into Azerbaijani economy.
28 April 2008 [16:04]

Lenkoran opposition calls on Azerbaijani authorities to provide aid to south region's citrus economies

The Lenkoran organizations of the Musavat, Popular Front and Open Society opposition parties have prepared an appeal in this connection.
28 April 2008 [13:02]

Azerbaijan, Germany sign memo of understanding on cooperation in labor and social protection of population

A delegation led by Franz Tunner, state secretary of the Parliamentary Federative Ministry of issues of labor and social protection of population is visiting Baku.
28 April 2008 [11:09]

Azerbaijan displays no interest in Trans-Afghan gas pipeline project

Azerbaijan displays no interest in the project of construction of Turkmenistan-Afghanistan-Pakistan-India gas pipeline, as told Azerbaijan's Minister of Industry and Energy Natiq Aliyev.
26 April 2008 [13:59]

Internet prices to fall in Azerbaijan

Internet tariffs are not regulated by the Tariff Council, they are regulated by the market.
26 April 2008 [11:45]

Ukraine, Azerbaijan to discuss energy issues

A group of experts on energy complexes of Azerbaijan and Ukraine headed by Vice-President of State Oil Company of Azerbaijan Republic (SOCAR) Elshad Nasirov will visit Kiev, Ukraine on May 5.
26 April 2008 [10:54]

State Secretary of German parliamentary federal ministry to arrive in Azerbaijan

A delegation led by Franz Tunner, German state secretary of the Federal ministry of labor and social protection of the population, will pay an official visit to Azerbaijani capital on April 27.
25 April 2008 [17:11]

SOCAR opens petrol station in Georgia

SOCAR opened a petrol station under SOCAR brand in Georgian Rustavi on April 25.
25 April 2008 [16:52]

Azerbaijan's insurance market to grow by 30% annually

Azerbaijan's insurance market will grow by 30% annually in the near future.
25 April 2008 [15:43]

Parliament of Azerbaijan discusses rise in prices and situation with grain

"Statistics of the Azerbaijani Ministry of Agriculture about grain crops is an open upward distortion".