Business

07 October 2008 [17:06]

Cost of the project of waste incineration plant to be raised in Azerbaijan

The cost of the waste incineration plant construction project in Azerbaijan will be raised up to EUR 408,280,000, said a source in the government, according to which the increase will include VAT to be reflected in the contract with the project operator - French CNIM.
07 October 2008 [16:19]

Azerbaijan prolongs agreement with KEPCO on construction of private electric station until 2009

The Economic Development Ministry has prolonged the agreement with Korean KEPCO about the construction of a private electric station in Azerbaijan of a capacity of 818 MW until June of 2009, said chief of department of foreign investment and coordination of technical assistance Asker Alekperov.
07 October 2008 [15:10]

Trilateral meeting on North-South transport corridor held in Baku

Baku is hosting the Azerbaijani-Russian-Iranian meeting of the working groups, engaged in the implementation of the North-South international transport corridor, said spokesman of the Azerbaijan State Railway Company Nadir Azmamedov.
07 October 2008 [14:53]

Central Food Lab being created in Azerbaijan

The Central Food Laboratory of the Consumer Market Oversight Service under Azerbaijan's Economic Development Ministry will be launched in 2010, said acting head of the service Aslan Jafarov.
07 October 2008 [14:30]

Schedule of raising Sangachal-Garadagh terminal's capacity to be corrected

The Azerbaijan Investment Company and Kaztransservis (Azersun Holding) are planning to alter the schedule of raising the capacity of the Sangachal-Garadagh terminal, said AIC chief executive Anar Akhundov.
07 October 2008 [12:30]

Baku to host several business forums

Baku will host several business forum with Romania, Sweden, Cuba and Mexico in late October-early November, said chief executive of the Azerbaijan Export and Investments Promotion Foundation (AZPROMO) Emil Mejidov.
07 October 2008 [11:06]

Baku to face problems of water supply

This winter the population of Baku will have problems with water supply.
06 October 2008 [17:51]

Milk plant opens in Sheki, Azerbaijan

The Azerbaijan-Turkey enterprise Sheki Agro Industries opens in Sheki region of Azerbaijan.
06 October 2008 [14:56]

Money supply grows 64.4% in Azerbaijan

As of September 1 of this year money supply made AZN 5,365,100,000 in Azerbaijan.
06 October 2008 [14:44]

Volume of credit investments in Azerbaijan grows 80% through the past year

As of September 1 of this year the overall volume of credit investments in Azerbaijani economy made up AZN 6,450,000,000.
06 October 2008 [14:06]

NBA monetary reserves reach $5.4 bln

The monetary reserves of the National Bank of Azerbaijan have grown $1,423,400,000 (35.4%) as compared to earlier this year.
06 October 2008 [10:58]

New chief of representative office of Russian Maritime Registry of Shipping in Azerbaijan appointed

Shaban Guliyev has been appointed a new chief of the Azerbaijani representation of Russian Maritime Registry of Shipping (RS), said the press service for RS.
04 October 2008 [12:59]

12 new electric stations launched in Baku

12 new electric stations have been launched in Baku, said spokesman for Bakielektrikshebeke Tanriverdi Mustafayev.
04 October 2008 [12:38]

Construction of a bridge near the Khalqlar Dostlughu metro station suspended

Construction of the bridge in Babak Avenue of Baku City has been stopped, APA-ECONOMICS reports.
04 October 2008 [09:09]

Wireless Internet to be available all over Azerbaijan next year

The optical cable network building to a number of regions in Azerbaijan has continued to progress and is slated for completion by October 15, said Iltimas Mammadov, Azerbaijan’s Deputy Minister of Communications and Information Technologies.
03 October 2008 [15:19]

Baku-Novorossiysk pipeline exports over 947,000 tons through 9 months

The SOCAR Department of Marketing and Economic Operations exported 82,832 tons of oil by the Baku-Novorossiysk pipeline in September of 2008.
27 September 2008 [16:13]

Azerbaijan will gain over a billion of dollars from tourism in 2009

This year the expected receipts of the country's economy from the tourism sector must exceed a billion of dollars, said Azerbaijani Minister of Culture and Tourism Abulfaz Garayev.
27 September 2008 [15:14]

Baku-Lenkoran first air flight put off again

The date of the first flight by the Baku-Lenkoran route has been put off again.
26 September 2008 [15:40]

Azerbaijani government signs two agreements on "Accounting in budget and corporate sphere"

The Azerbaijani government and International Bank for Reconstruction and Development (WB) have signed a credit agreement on the project of "Accounting in budget and corporate sector" (CAP/SAP) in Baku today.
26 September 2008 [15:10]

Railway authorities of Azerbaijan, Iran and Russia to meet in Baku

Baku will host the Azerbaijan-Russia-Iran meeting of the work groups, engaged in the project of international transport corridor North-South on October 7-8, said spokesman for the Azerbaijan State Railway Company Nadir Azmamedov.
26 September 2008 [14:34]

Deputy chief of US department of commerce: "Azerbaijan continues reforms in economic sector"

Deputy chief of the US department of commerce Paul Dick declared opening of the services office of the department in Azerbaijan.
26 September 2008 [14:21]

Azerbaijan not confirming information about suspension of parallel energy supplies with Georgia

The parallel supplies of electric power between Azerbaijan and Georgia have not been ceased, said vice president of Azerenerji Marlen Askerov.
26 September 2008 [11:55]

Cuba-Azerbaijan business forum to take place in Havana

The Cuba-Azerbaijan business forum will be held in November.
26 September 2008 [11:37]

Azerbaijan represented in international microinsurance conference

The international conference on "Microinsurance integration into financial system - issues of regulation, control and policy", organized by the Financial Stability Institute, was held in Bazel (Switzerland) on September 16-18.
26 September 2008 [11:00]

Mehriban Aliyeva: "Over 700 000 jobs have been opened since the last five years"

Delegates from Turkey, Russia, Kuwait, Jordan and Lithuania participating at Azerbaijani Women’s III Congress attended Heydar Aliyev Foundation, reports Day.Az with reference to ANS-Press.
26 September 2008 [10:34]

Georgia suspends electric power import from Azerbaijan and Russia

Georgia has suspended import of Russian electric power, supplied by the Salkhino power transmission line, passing via Abkhazia.
26 September 2008 [09:33]

Assets of Azeri-Chirag-Guneshli to pass to Azerbaijan by 2009

The process of the transfer of all assets, created in the framework of the PSA agreement on the development of the Azeri-Chirag-Guneshli oil fields, has been launched and it will finish by 2009, said SOCAR president Rovnag Abdullayev.
26 September 2008 [09:08]

Azerbaijan ranking 118th in Economic Freedom of the World 2008 report

The Cato Institute has released the rating of economic freedom of the world 2008.
25 September 2008 [17:17]

Azerbaijan plans to purchase oil refinery in Europe

The State Oil Company of Azerbaijan plans to buy an oil refinery in Europe, said SOCAR president Rovnag Abdullayev.
25 September 2008 [15:27]

Casmornefteflot obtains two more new ships

The ceremony of receipt of two new ships of the State Oil Company of Azerbaijan, called Caspian Qala and Caspian Breeze, was held in Baku on September 25.
25 September 2008 [13:14]

Baku to apply circular power supply system

It is planning to create a circular power supply system for qualitative and reliable supply of electric power to the Baku city center, as well as the settlements around Baku, said spokesman for Bakielektrikshebeke Tanriverdi Mustafayev.
25 September 2008 [11:35]

Mikail Jabbarov: " A garbage incineration unit is today the most optimal variant for disposal of a greater part of household wastes in Baku"

The organization "The Clean city", founded by decree of President of Azerbaijan Ilham Aliyev in August of this year, will deal only with the problem of the solid household wastes disposal in Baku", said deputy Economic Development Minister of Azerbaijan Mikail Jabbarov.
25 September 2008 [09:46]

BTC pipeline closed for prophylactic words

BP has closed the BTC pipeline, reports ITAR-TASS quoting on a company representative.
24 September 2008 [16:30]

Azerbaijan gearing for manufacturing aircraft and helicopter

Azerbaijan may launch production of aircrafts and helicopters in cooperation with several foreign companies, a source in the government told APA-ECONOMICS.
24 September 2008 [15:40]

Fourth international youth employment summit starts in Baku - UPDATED

The fourth international youth employment summit opened at Gulistan palace in Baku today.
24 September 2008 [09:04]

Transparency International Azerbaijan: "Country's low rating in Corruption Perceptions Index raises concern"

The National department of Transparency International in Azerbaijan is concerned with the country's low rating in the Corruption Perceptions Index for the last two years.
23 September 2008 [17:56]

Azerbaijan to attend international conference "BlackSeaCruise 2008"

The first international conference BlackSeaCruise 2008 will be held in Odessa (Ukraine) on September 24-25 of this year under support of the Black Sea Economic Cooperation.
23 September 2008 [17:36]

Azerbaijan passes 2009 draft budget

Azerbaijan’s Cabinet has today approved the 2009 state draft budget with participation of Prime Minister Artur Rasizade, Minister of Economic Development Heydar Babayev, Minister of Finance Samir Sharifov and other government officials.
23 September 2008 [15:56]

Azerbaijan ranking fourth among former USSR states for Corruption Perceptions Index

Transparency International has released the rating of countries for the level of corruption held among 200 states on September 23.
23 September 2008 [15:23]

Qubad Ibadoghlu: "The most important is that investing into Nagorno Karabakh we are investing into our land"

Day.Az interview with Qubad Ibadoghlu, head of the Economic Research Center and famous economist.
23 September 2008 [14:16]

President of Azerbaijan attends opening ceremony of one section of a road junction near Meshadi Azizbeyov metro station

President of Azerbaijan Ilham Aliyev took part in the opening ceremony of one of the parts of the road junction near Meshadi Azizbeyov metro station.
23 September 2008 [13:27]

Household waste recycling plant to be built in Baku

An agreement on the construction of a household waste recycling plant in Baku will be signed later this month.
23 September 2008 [12:56]

Azerbaijan to raise its share in Black Sea Trade and Development Bank to 5% in October

The session of the directors' board of the Black Sea Trade and Development Bank will be held in Istanbul on October 4-5.
23 September 2008 [12:38]

Azerbaijan-German business-forum may bring new investments to Azerbaijan

The Azerbaijani-German business-forum, held in Baku, will open new opportunities for German investments, especially Baden-Wurttemberg in Azerbaijan, said Mikail Jabbarov, deputy Economic Development Minister of Azerbaijan at the forum opening.
23 September 2008 [09:39]

NBA: "Increase of interest on credits is aimed at influencing the inflation growth rates"

Increase of the interest on credits is one of the anti-inflation tools now used in Azerbaijan.
23 September 2008 [08:55]

Azerbaijan, Netherlands to apply system of double taxing evasion

Azerbaijan and Netherlands will apply system of double taxing evasion regarding incomes and property, says the press release of Azerbaijan Taxes Ministry, according to Interfax-Azerbaijan.
22 September 2008 [13:12]

AzAL to launch direct flights from Baku to Zagatala and Lenkeran next week

Azerbaijan Airlines (AzAL) will start domestic flights between Baku and Zagatala from September 26, Maharram Safarli, Press Secretary of AzAL, the flag carrier of the country.
22 September 2008 [09:30]

Oslo hosts Azerbaijan-Norway business-seminar

The Azerbaijan-Norway seminar was held in Norwegian Oslo.
20 September 2008 [12:27]

SOCAR negotiating with Russia on bringing capacity of Baku-Novorossiysk pipeline to 5,000,000 tons per year

The State Oil Company of Azerbaijan is negotiating with Russia on bringing the Baku-Novorossiysk pipeline capacity to the projected capacity of 5,000,000 per day, SOCAR president Rovnag Abdullayev told reporters.
20 September 2008 [11:30]

Reconstruction of underground gas reservoirs in Azerbaijan to take about AZN 100,000,000

The total capacity of two underground gas reservoirs Kalmaz and Qaradagh after reconstruction will top 2 bln cubic meters of gas per year in 2009, SOCAR president Rovnaq Abdullayev told reporters.
20 September 2008 [11:07]

Rovnag Abdullayev: "We will define the place of gas leakage at the platform in the Central Azeri field"

The underwater inspection of the oil platform in the Central Azeri field, suspended by the Azerbaijan International Operating Company due to gas leakage, started today, said SOCAR president Rovnag Abdullayev.
19 September 2008 [11:03]

Azerbaijan ranking 76th in Global Enabling Trade Report 2008

The World Economic Forum has released the Global Enabling Trade Report for 2008.
19 September 2008 [08:59]

Azerbaijan to launch two airports in a few days

Zagatala Airport will soon be opened after reconstruction, said Azerbaijan Airlines (AzAL).
18 September 2008 [16:10]

Azerbaijan's grain production hits record level of 2.4 mln tons

Azerbaijan completed grain and grain legumes (without corn) gathering as of September 1 and 2,334,100 tons of crops was gathered from 860,200 hectares of lands.
18 September 2008 [09:16]

Azerbaijan declared WB's largest borrower

17 September 2008 [15:31]

Money, circulating in Azerbaijan, makes AZN 13,4 bln

In January-August of 2008, Azerbaijan accounted for AZN 13,363,000,000 circulating in the country.
17 September 2008 [13:27]

Gas leakage results in evacuation of personnel from one of Azerbaijani platforms in the Caspian Sea

Gas leakage occurred today at the Central Azeri platform, owned by BP-Azerbaijan. In the result, the personnel was completely evacuated from the platform, reports Day.Az with reference to ANS-Press.
17 September 2008 [09:21]

Azerbaijan's GDP reaches AZN 25.9 bln through 8 months

In January-August of 2008 Azerbaijan's GDP made AZN 25.9 bln, which is 13.2% higher, as compared to the same period of the last year.
16 September 2008 [15:16]

AZPROMO and British Business Association for Middle East sign protocol of cooperation

The protocol on cooperation between the Azerbaijan Export and Investment Encouragement Foundation (AZPROMO) and British Business Association on Middle East signed a protocol of cooperation in Baku today.
15 September 2008 [17:47]

Estonian President to attend fourth Baku energy summit

Estonian President Toomas-Hendrik Ilves will attend the fourth energy summit, to be held in Baku on November 14 of this year, reports Novosti-Azerbaijan with reference to the Estonian presidential administration.
15 September 2008 [16:12]

Flats in new buildings grow more expensive in Baku

The Public association "Participants of immovables market" drew conclusions of the monitoring of the state of the market of primary residence in the capital of Azerbaijan for August 2008.
13 September 2008 [12:21]

World Bank: Azerbaijan No. 1 in Reforms

The World Bank has named Azerbaijan the global leader in business reforms, according to a new study that examines how countries improve their commercial environments and encourage start-ups.