Business

28 March 2007 [22:50]

Georgian parliament ratifies regional railway project agreement

Georgian parliament unanimously ratified the agreement on construction of Kars-Tbilisi-Baku railway project.
28 March 2007 [22:45]

Transport Ministry to prepare program to reconstruct streets and roads in Baku

Azerbaijan's Transport Minister Ziya Mammadov reviewed streets and roads in Baku.
28 March 2007 [22:37]

Azerbaijan works on power network reconstruction program

Azerenergy, State Electricity Company, has sent the Government the draft program aimed at reconstruction of power grids, networks and stations in the country, said Company Vice-President Marlen Asgarov.
28 March 2007 [22:28]

Two bridges and two tunnels to be commissioned in Baku

In two months, two road bridges will be commissioned in Ziya Bunyadov Avenue and the 3rd Microdistrict in Baku.
28 March 2007 [22:28]

Imishli-Parsabad power line II to be ready by year-end

The work on construction of Imishli-Parabad high-voltage power supply line between Azerbaijan and Iran has continued to progress and the construction work will be complete by this year's end, said Azerenergy Vice-President Marlen Asgarov.
28 March 2007 [22:25]

Azerbaijan intends to merge several industrial enterprises

In Azerbaijan, oil and non-oil sectors should pace in parallel and by 2012 revenues coming from these sectors have to be parallel, said the country's industry and energy minister Natig Aliyev.
28 March 2007 [22:23]

Azerbaijan intends to acquire stake in aluminum plants in Tajikistan

A total of USD 7 billion ws invested in the economy of Azerbaijan last year, of which 42% was domestic and 58% foreign capital investments, said the Cabinet's Financial Policy Officer Ogtay Hagverdiyev.
28 March 2007 [22:22]

Government may reconsider state budget blueprint soon

In late May or early June, the Government of Azerbaijan might reconsider revenues and expenditures of the state budget for 2007, said the Cabinet's Financial Policy Officer Ogtay Hagverdiyev.
28 March 2007 [22:19]

Azerbaijan to prepare program to reconstruct streets and roads in Baku

Today, Azerbaijan's Transport Minister Ziya Mammadov reviewed streets and roads in Baku.
28 March 2007 [22:18]

Azerbaijan could use Belarus to refine its oil, PM says

Belarus and Azerbaijan are considering the refining of Azeri oil at Belarusian refineries, and Azerbaijan is inclined to believe such a move would be beneficial, Azeri Prime Minister Artur Razizade said at a meeting of a joint Belarusian-Azeri commission.
28 March 2007 [22:11]

Preliminary trial on case of Barmek officials again postponed

Preliminary court proceeding on case of president of Barmek Azerbaijan Electricity Distribution LLC Huseyn Arabul and seven more company officials, who are accused of abuse of power, embezzlement and negligence of court judgements, was again postponed.
28 March 2007 [22:00]

Azerbaijan should pump gas to Georgia in crisis only, Azeri Energy Minister says

Industry ad Energy Minister Natig Aliyev has met with his Georgian counterpart Nika Gilauri.
28 March 2007 [21:56]

AzAL opens direct flight between Baku, Munich

Azerbaijan Airlines State Concern (AzAL) intends to open direct flight between Baku and Munich, the Company told.
28 March 2007 [15:09]

Azerbaijan oil output to double by 2010

Azerbaijan's Energy Minister said Wednesday that the ex-Soviet Caspian Sea nation would double its oil output by 2010.
28 March 2007 [09:25]

Cargo transit up 6.1% in Azeri part of TRACECA

Cargo transportation in Azerbaijani part of Transport Corridor Europe-Caucasus-Asia (TRACECA) reached 3.9mln tonnes in January, up 6.1% from a year earlier.
28 March 2007 [09:24]

Ganja's gas supply system reconstructed

Gas supply system of the Azerbaijani region of Ganja is being reconstructed.
28 March 2007 [08:59]

Azerbaijan, Russia to fix imported electricity prices for Q2 by late march

Azerbaijan's Azerenergy and Russia's RAO UES (Unified Energy Systems) intend to set the prices of electricity imports for the second quarter by the end of March.
28 March 2007 [08:58]

Baku Electricity Networks begins to cut off supply to debtors

Baku Electricity Networks has begun to cut off electricity supply to debtors from March 27.
28 March 2007 [08:57]

Azerbaijan intends to set up information resources registry system

Azerbaijan intends to form information network and resources registry system to control and register the firms engaged in this sphere, said Communications and Information Technologies Ministry Officer for Information Society Development Rufat Gulmammadov.
28 March 2007 [08:55]

Presentation of Oracle Business Intelligence Suite EE 10g Release 3 delivered in Baku

The world's leading enterprise software company, Oracle held a presentation of Oracle Business Intelligence Suite EE 10g Release 3.
28 March 2007 [08:53]

New director to be appointed Absheron Insurance Company

Director of Azerbaijan's Absheron Insurance Company Aghahuseyn Huseynov was dismissed.
28 March 2007 [08:52]

Turkish Radio and Television Corporation's delegation to visit Azerbaijan

The delegation of Turkey's Radio and Television Corporation will visit Baku on April 5.
28 March 2007 [08:43]

State Student Admission Commission announces tender

Azerbaijan's State Student Admission Commission has announced an open contest for procurement of stationery and supply of its administrative building with heating.
28 March 2007 [08:41]

Two IMF missions to visit Baku in April

Two IMF missions for technical assistance will visit Azerbaijan in April.
27 March 2007 [23:50]

U.S. seeks stable energy markets in Caspian region, officials say

New pipelines mean competition, not confrontation with Russia.
27 March 2007 [22:55]

Azerbaijan's rep attends ITSO meeting

The 31st Assembly of Parties of the International Telecommunications Satellite Organization (ITSO) member states held in Paris, from 20 to 23 March.
27 March 2007 [22:38]

Azerbaijan can hardly continue gas supplies to Georgia-opinion

Azerbaijan's Minister of Industry and Energy Natig Aliyev does not deem it expedient to continue after April 1 supplying Georgia with gas extracted by Azerbaijan's State Petroleum Company.
27 March 2007 [19:44]

Crude holds close to $63 a barrel as UK/Iran tensions weigh

Crude-oil futures were lower early Tuesday but held close to $63 a barrel as the U.K. increased pressure on Iran to free 15 navy personnel taken prisoner by armed Iranian forces last week with Prime Minister Tony Blair warning efforts will enter a "different phase" if diplomatic moves fail.
27 March 2007 [19:29]

Booz Allen Hamilton to submit proposals on Innovation Zones to Azerbaijan

Booz Allen Hamilton consulting firm will submit the package of proposals on Regional Innovation Zones Establishment Project to the Ministry of Communications and Information Technologies in a few days.
27 March 2007 [19:11]

Taxes Ministry freezes Azerigas bank accounts

Azerbaijan's Taxes Ministry has frozen the bank accounts of Azerigas as it failed to collect gas bills.
27 March 2007 [19:00]

Turkish Energy Minister says terminal is ready to receive Shah Deniz gas

Turkish Energy Minister Hilmi Guler told the fourth Oil&Gas Conference that construction works in the terminal in Silvri to receive natural gas from Azerbaijan has been completed.
27 March 2007 [18:57]

Huseyn Arabul: "Government has not yet signed final handover agreement with Barmek"

"Azerbaijan's government has not signed final handover agreement with Barmek LLC yet," said Barmek's president Huseyn Arabul.
27 March 2007 [18:56]

SOCAR Georgia Director says fuel stations will be built in regions compactly populated by Azerbaijanis

SOCAR Energy Georgia will establish fuel filling stations in the regions of Georgia compactly populated by Azerbaijanis, Company Director General Mahir Mammadov said.
27 March 2007 [18:52]

Presentation ceremony of Belarus 80.1 tractor assembled at Ganja Automobile Plant

Presentation ceremony of the first tractor Belarus 80.1 assembled at Ganja Automobile Plant was held.
27 March 2007 [16:25]

World Bank approves a loan for Real Estate Project in Azerbaijan

March 21, the World Bank's Board of Executive Directors approved a US$ 30 million IBRD loan for the Real Estate Registration Project for the Republic of Azerbaijan.
27 March 2007 [14:09]

World Bank announces Small Grants Program in Azerbaijan

The World Bank and Azerbaijan's Communications and Information Technologies Ministry have jointly announced Small Grants Program for involvement of citizens in information society.
27 March 2007 [13:43]

ICSID postpones legal process on Azerbaijani government

The International Center for Settlement of Investment disputes (ICSID) postponed the legal procedure fixed for March 28 on case of the Azerbaijani government on the charges raised by Barmek - Azerbaijan Electricity Distribution LLC for uncertain time, Barmek president Huseyn Arabul exclusively told.
27 March 2007 [13:18]

Accounting Chamber to audit ICT Ministry, Agroleasing and State Pedagogical University

Azerbaijan Accounting Chamber will audit OJSC Agroleasing according to the financial control program.
27 March 2007 [11:44]

Preliminary trial on case of Barmek officials again postponed

Preliminary court proceeding on case of president of Barmek Azerbaijan Electricity Distribution LLC Huseyn Arabul and seven more company officials, who are accused of abuse of power, embezzlement and negligence of court judgements, was held on Tuesday.
27 March 2007 [00:30]

Regional railway project not to create any danger to Georgian seaports

Georgia's Economic Development Minister, Georgiy Arveladze said Kars-Akhalkalaki-Tbilisi-Baku railway will not be an alternative to the country's seaports, and those who say so are unaware of the current situation.
27 March 2007 [00:28]

BTC can transport 1.6m barrels of crude oil

It is possible to transport 1.6 million barrels of crude via the BTC pipeline, Salih Pashaoglu, director general of Turkey's BOTAS company said at the international conference.
27 March 2007 [00:25]

Baku-St.Petersburg flight launched

The Azerbaijan Air Lines (AZAL) launched a new Baku-Saint Petersburg flight on March 25.
27 March 2007 [00:19]

Paris workshop discussed Azerbaijan's economic achievements

A seminar initiated by UNIfans, a Paris-based Organization, discussed the topic "Azerbaijan, Georgia, Kazakhstan and Uzbekistan: the visible sides of economic growth."
26 March 2007 [19:19]

For rate of credit growth, Azerbaijan is in highest-risk category

The highest rate of lending since the eve of the Asian crisis in 1997 is "stretching" banking systems worldwide, according to Fitch Ratings.
26 March 2007 [17:38]

Tbilisi conference focuses on energy security

On March 22-23, regional energy leaders gathered in Tbilisi for the Georgian International Oil, Gas, Infrastructure and Energy Conference (GIOGIE) discussing among other issues Georgia's role in developing alternative oil and gas transport routes that bypass Russia and help Europe become less reliant on Russia for its energy needs.
26 March 2007 [14:55]

Azerbaijan's GDP up 41.7% y-o-y in 2M07

Azerbaijan saw its Gross Domestic Product grow 41.7% year-on-year to $3.8 billion in January and February 2007, the South Caucasus nation's government statistics agency said Monday.
26 March 2007 [14:42]

Grain terminal to be opened in Baku

An official opening of the Baku grain terminal will be held in Govsany, Baku, on April 3, 2007.
26 March 2007 [13:54]

Georgia wants additional supplies from Azerigaz

Chief executive of the state-run Georgian Oil and Gas Corporation (GOGC) Alexander Khetaguri will visit Baku on March 29 to negotiate with the Azerbaijan's state company, Azerigaz, on additional supplies of gas.
26 March 2007 [08:52]

Nabucco: Project with Strange Name and Mysterious Intentions

Energy security has became the main theme of today's world.
24 March 2007 [20:33]

WB lends $30 million for Real Estate Registration Project

The World Bank has set aside a $30 million loan for the Real Estate Registration Project in Azerbaijan with a grace period of 5 years, the World Bank announced on March 22.
24 March 2007 [20:31]

ACG operating expenditure expected to be $396 million in 2007, BP-Azerbaijan

BP Azerbaijan said it expects the ACG (Azeri-Chiraq-Gunashli) operating expenditure to be $396 million in 2007, and plans to spend $2.579 million in capital expenditure on ACG activities this year.
24 March 2007 [20:30]

New Zealand company wins SOCAR's tender

Azerbaijan's State Oil Company (SOCAR) has named the winner of its tender who will transport 1 million barrels of Azerbaijani crude oil (Azeri Light) from the Turkish port of Ceyhan in April.
24 March 2007 [20:29]

Finance Minister visits Hungary

Azerbaijan's Minister of Finance Samir Sharifov visited Hungary March 22-23.
24 March 2007 [15:30]

Russia continues to buy up Armenian enterprises

During its regular sitting the Armenian government decided to sell it 10 percent share of ArmenTel stocks to Russia's VympelCom, the owner of the 90 percent package.
23 March 2007 [23:15]

Georgian Oil and Gas Corporation opens branch in Azerbaijan

Former Ambassador in Azerbaijan Zurab Gumberidze was appointed the head of Georgian Oil and Gas Corporation branch office in Azerbaijan.
23 March 2007 [23:03]

Trans-Caspian pipeline may be construction in 2012-2016, Svante Cornell says

Research Director for the Central Asia-Caucasus Institute of Johns Hopkins University Svante Cornell commented on Azerbaijan's Foreign Minister Elmar Mammadyarov's statements.
23 March 2007 [23:01]

Energy: Looking For Ways To Circumvent Russia

Three meetings. Three cities. One goal: making Europe less dependent on Russian energy.
23 March 2007 [14:55]

Kazakhstan extends helping hand to Georgia

Kazakhstan's deepening economic cooperation with Georgia and Ukraine is increasingly assuming political connotations which go far beyond the boundaries of bilateral relations.
23 March 2007 [13:52]

Central Asia seeks to bypass Russian routes

Central Asian countries are holding talks with European top officials on ways to transport and supply gas to Europe in projects that exclude Russia.
23 March 2007 [13:46]

U.S. Ambassador to Georgia underlines U.S support to transport Turkmenistan gas via Azerbaijan

Speaking at the GIOGIE 2007 [6th Georgian International Oil, Gas, Energy and Infrastructure Conference] hosted by Tbilisi's Sheraton Metechi Palace U.S. Ambassador to Georgia John Tefft hailed the plan transport Turkmenistan gas to Europe via Azerbaijan and Georgia.
23 March 2007 [03:03]

Azeri becomes Uralmashzavod new CEO

The meeting of Uralmashzavod's Board of Directors held on March 20, 2007 resulted in appointing Nazim Efendiev the company's CEO.
23 March 2007 [02:59]

GIOGIE 2007 opens in Tbilisi

6th Georgian International Oil, Gas, Energy and Infrastructure Conference has been launched at the hotel Sheraton Metechi Palace to energy-economic issues.
22 March 2007 [23:40]

Turkey/Israel pipeline could shift Middle East power balance

Although regional pipelines rarely are recognized as progenitors of global power balance, the prospective agreement between Turkey and Israel to construct such a strategic connection may accomplish a seismic economic shift.
22 March 2007 [23:23]

Poland wants energy corridor from Caspian

Polish President Lech Kaczynski's visit to Azerbaijan and Kazakhstan is expected to focus on the building of a crude oil transportation corridor from the Caspian Sea.
22 March 2007 [01:28]

Georgian parliament committee approves Baku-Tbilisi-Akhalkalaki-Kars railway deal

Georgian Parliament's Foreign Relations Committee has approved the agreement on Baku-Tbilisi-Akhalkalaki-Kars railway project.
21 March 2007 [14:39]

First train to cover Baku-Akhalkalaki-Kars railroad in May 2010

The first ever train will cover the Baku-Akhalkalaki-Kars in May 2010, Director General of the Georgian Railways Irakly Ezugbaya said at the meeting of the Georgian parliamentary committee for external relations.
21 March 2007 [13:45]

Georgia sees higher growth, foreign investment in 2007

Georgia weathered Russia's economic embargo last year and expects foreign investment and growth to pick up in 2007 on the back of reforms, Economy Minister George Arveladze said on Tuesday.
21 March 2007 [13:30]

Deputy FM: "Buying gas directly from Turkmenistan rather than via Russia will strengthen EU's energy security"

Azerbaijan has urged EU to buy gas from Turkmenistan despite the decision to halt any trading relations with that country because of the right violation there.
20 March 2007 [22:09]

Azerfon LLC joins USACC as regular member

Azerfon, LLC was licensed by the Ministry of Communications and Information Technologies of Azerbaijan in December, 2005 to provide mobile services throughout the territory of Azerbaijan.
20 March 2007 [21:56]

Azerbaijan's new GSM operator Azerfon (Nar Mobile) comes on stream

Azerfon LLC Director General John Armley told a press conference that the new operator has set up necessary infrastructure and installed the required equipment.
20 March 2007 [10:29]

Azerbaijan to increase gas exports to Georgia, Nika Gilauri says

Azerbaijan is going to increase natural gas exports to Georgia, said the country's energy minister Nika Gilauri during his visit to Jandara settlement where Baku-Tbilisi-Erzurum pipeline joins Georgia’s gas distribution grid.
20 March 2007 [10:28]

Credit investments in Azeri economy grew 81%

As of February 1, the amount of loans invested in the economy of Azerbaijan reached AZN 2,493.4m, up 80.6% from a year earlier.
20 March 2007 [10:28]

50 applicants pass tax bodies recruitment exam Stage I

Azerbaijan Student Admission Commission has released the results of the tax bodies employment examination.
20 March 2007 [10:27]

Tbilisi to host energy infrastructure conference

The sixth international energy infrastructure conference will be held in Tbilisi on March 22-23.
20 March 2007 [10:26]

SOCAR plans to purify polluted territories

Azerbaijan's State Oil Company (SOCAR) intends to purify the oil-polluted territories in Bibiheybat.