Business

18 February 2008 [18:21]

1783 expatriates engaged in Azerbaijan's economic sector

Azerbaijan recorded 1783 expatriates, engaged in its economic sector, as of January 1 of 2008.
18 February 2008 [18:15]

Representatives of Russian energy company to arrive in Azerbaijan

Representatives of Russian Inter RAO EEC will arrive in Azerbaijan to hold talks on electric power sale and purchase on February 21.
18 February 2008 [17:50]

Oil refinery complex creation depending on governments' decision in Azerbaijan

The Azerbaijan Investment Company has introduced results of surveys on the project of oil refinery, carried out by the Allied Investment Company, to the government.
18 February 2008 [17:33]

Kuwait financial house invests first $15,000,000 to project of investment fund creation with AIC

The observation council of the Kuwait financial house made a decision on allocation of first investments of $15,000,000 into the project of creation of an investment fund, with the Azerbaijan Investment Company.
18 February 2008 [12:06]

Transparency International holds regular anti-corruption trainings in Azerbaijan

The Azerbaijani representation of Transparency International held trainings against corruption in Baku, Ganja, Lenkoran, Guba and Sheki on February 11 and 16.
16 February 2008 [15:37]

Gubad Ibadoglu: "Construction of non-production mega-establishments causes increase of inflation rate"

The activity of the Azerbaijani government aims at encouraging inflation rate rather than curbing it.
16 February 2008 [13:59]

SOCAR said to hide part of its revenues

The State Oil Company of Azerbaijan lends its ships to foreign companies, operating in the Caspian Sea.
16 February 2008 [10:55]

Havana Cigars House to open in Baku

Havana Cigars House will open in Baku in April-May, Kaballero Torres, Cuban charg? d’affaires in Azerbaijan said, APA reports.
16 February 2008 [10:34]

Euronews to feature Azerbaijan's tourism potential

The government of Azerbaijan will allocate funds for featuring its tourism potential on Euronews, according to country’s Minister of Culture and Tourism.
16 February 2008 [10:28]

$130,000,000 to be raised for Sangachal-Garadagh oil and gas terminal construction in Azerbaijan

The Azerbaijan Investment Company (AIC) and Kavkaztransservis (member of Azersun Holding group) have launched talks with foreign banks to raise additional credits for construction of the Sangachal-Garadagh oil and gas terminal.
15 February 2008 [18:57]

Azerbaijan introduces draft resolution to support EITI to UN Secretariat

Azerbaijan has introduced a draft resolution, support Extractive Industries Transparency Initiative (EITI) to the UN Secretariat.
15 February 2008 [15:18]

Manual on combat with corruption to be applied to country's educational system prepared in Azerbaijan

Project "Anti-corruption enlightenment and virtual center of consultations" is being implemented by the Fund of Combat with Corruption in 12 regions of Azerbaijan.
15 February 2008 [14:39]

Direct air flight Amman-Baku likely to be established

Royal Jordan delegation will hold regular discussions on establishment of direct air flights Amman-Baku in Baku.
15 February 2008 [13:25]

Eyub Guseynov: "To root out corruption it is necessary to form a consumer policy in Azerbaijan"

"If we want to reduce corruption to minimum, we should undertake due steps".
15 February 2008 [13:10]

Iran to purchase natural gas from Azerbaijan

Iran plans to import natural gas from Azerbaijan, country’s ambassador to Azerbaijan Nasir Hamidi Zare told APA.
15 February 2008 [12:31]

Azerbaijan to neutralize its gas debt to Georgia

We will start exportation of 10,000,000 cubic meters of gas to Georgia in the near future.
15 February 2008 [11:58]

Heydar Babayev: "Azerbaijan's demand of cement will rise by 3,000,000 tons in the next 3 years"

Azerbaijan's Ministry of Economic development forecasts Azerbaijan's demand for cement to rise by 3,000,000 tons from the current 4,000,000 in the next three years.
14 February 2008 [17:43]

Azerbaijan and Saudi Arabia likely to open direct air communication

Azerbaijan and Saudi Arabia are discussing establishment of a direct air flights.
14 February 2008 [17:09]

Azerbaijan's January inflation rate makes up 15.3%

Inflation rate made up 15.3% in Azerbaijan in January of 2008.
13 February 2008 [18:10]

Iranian air company likely to open chartered flights via Azerbaijan

Iran Aseman Airlines consider possible arrangement of chartered route Resht (Iran)-Baku (Azerbaijan)-Astrakhan in spring of 2008.
13 February 2008 [17:53]

Cost of Azerbaijani gas for Georgia discussed

Azerbaijan's Minister of Industry and Energy Natik Aliyev met with Georgia's Energy Minister Alexander Khetaguri, currently visiting Baku.
13 February 2008 [16:19]

President of Azerbaijan receives Tajikistan Minister of Economic Development and Trade

President of Azerbaijan Ilham Aliyev received a delegation led by Gulomdja Bobozoda, Tajikistan's Minister of Economic Development and Trade, co-chairman of the joint intergovernmental commission for issue of trade and economic cooperation between the two countries.
13 February 2008 [12:50]

Seminar on business opportunities in Azerbaijan held in Canada

The seminar has been arranged by the Canadian Russian Eurasian Business Association (CERBA). It was carried out by CERBA regional representative Frank Kense.
13 February 2008 [12:14]

Azerbaijan joins meeting of EU and BSEC Foreign Ministers

A delegation from Azerbaijan led by deputy Foreign Minister Makhmud Mamedkuliyev left for Ukraine Wednesday morning.
13 February 2008 [11:53]

Azerbaijan, Tajikistan discuss mutual community turnover

Azerbaijan's Foreign Minister Elmar Mamedyarov received a delegation of Tajikistan led by Minister of Economic Development and Trade Gulumjan Bobozodo.
13 February 2008 [10:43]

Two regional airports to open in Azerbaijan in 2008

State Concern Azerbaijan Airlines will open two regional airports in Zagatala and Lenkoran, reconstructed from the budget,in 2008.
13 February 2008 [10:30]

Azerbaijan joins system of permanent control over quality of international air-mail

Azerbaijan's postal administration has joined the system of permanent control of the World Postal Union of quality of international air-mail in February of this year.
13 February 2008 [10:02]

Tajikistan, Azerbaijan interested in economic cooperation

Azerbaijan’s Minister of Economic Development Heydar Babayev has today met with a delegation led by Tajikistan’s Minister of Economic Development and Trade Gulomjon Bobozode.
12 February 2008 [12:28]

Has anyone made a hand of the sale of Azercell?

We have already reported the sale of state share in Azercell, Azerbaijan's biggest mobile operator.
12 February 2008 [11:02]

British, Japanese companies likely to tap gold in Azerbaijan

By the end of this year, Azerbaijan International Mining Operating Company plans to complete exploration of gold fields in Balakan, Gedebey, Dashkesen and Nakhchivan.
12 February 2008 [10:32]

Azerbaijan prepares report on environmental pollution in the occupied lands

Azerbaijan’s Ministry of Ecology and Natural Resources has developed two reports on damages to the environment and natural resources caused by arsons committed in the occupied lands by Armenians.
12 February 2008 [10:30]

WB to allocate credit for improvement of Azerbaijan's railway infrastructure

The World Bank will allocate credits in the amount of $465,000,000 to Azerbaijan.
11 February 2008 [17:28]

USAID planning to implement three economic projects in Azerbaijan

US Agency for International Development (USAID) will allocate $6,000,000 for implementation of projects in Azerbaijan in 2008.
11 February 2008 [17:25]

Banknotes of AZN 200 to be introduced in Azerbaijan

The National Bank of Azerbaijan plans to introduce banknotes of AZN 200 in the near future.
11 February 2008 [17:02]

State share in Azercell fully privatized

The state-owned share of Azerbaijan's biggest mobile operator Azercell has been fully privatized today.
11 February 2008 [16:47]

Ilham Aliyev: "We should develop the non-oil sector"

Azerbaijan's government to continue supporting development of entrepreneurship in the country.
11 February 2008 [16:04]

Unicapital becomes a shareholder of Baku Stock Exchange

In February, Unicapital bought from Unibank its share in the authorized capital of the Baku Stock Exchange.
11 February 2008 [15:57]

Azercell taking part at GSMA World Congress

GSMA World Congress is held in Barcelona, Spain from February 11 until February 14.
11 February 2008 [15:44]

Azerbaijan to buy 500 more buses from China

Azerbaijan-based Nihad Motors plans to import 500 more buses from China.
11 February 2008 [15:02]

Azerbaijan's January oil export rises by 24%

Volume of oil exportation from Azerbaijan made up 2,802,000 tons in January 2008, which is a 23.9% rise as compared to January of 2007.
11 February 2008 [13:48]

Microsoft to create regional information center in Azerbaijan

Microsoft Corporation plans to create a regional information center in Azerbaijan, Azerbaijan's minister of information and communication technologies Ali Abbasov said.
11 February 2008 [12:54]

Iran ready to assist Azerbaijan in railway construction

Iran has suggested Azerbaijan to construct a 8 kilometers railroad Astara-Azerbaijan-Astara-Iran.
11 February 2008 [12:43]

Ilham Aliyev: "650,000 job opportunities were created in Azerbaijan within 4 years"

The State Program for Development of Regions, adopted in February of 2004, has been executed almost by 98%.
11 February 2008 [12:22]

Conference on implementation of “State Program on Socioeconomic Development of the regions of Azerbaijan Republic” takes place in Gulustan palace with participation of President Ilham Aliyev

A conference on the four-year results of the implementation of “State Program on Socioeconomic Development of the regions of Azerbaijan Republic” (2004-2008) is being held in Gulustan palace.
11 February 2008 [11:34]

Azerbaijan-Iran commodity turnover making up $600,000,000

By some official reports, mutual commodity turnover between Azerbaijan and Iran makes up $600,000,000, while by unofficial reports it exceeds $1,000,000,000.
11 February 2008 [10:55]

Natik Aliyev: "Azerbaijan plans to bring prices on exported gas to the world market level"

The price of Azerbaijani gas, supplied to Georgia, may rise up to $180-200 per 1,000 cubic meters.
11 February 2008 [10:26]

European commission: "We hope that Azerbaijani gas will be supplied to Greece this year"

The European commission hopes that the supplies of Azerbaijani gas to Greece will start by the end of this year.
09 February 2008 [14:50]

Azerbaijani businessmen interested in investments to production and import of Georgian apples

Azerbaijani importers have paid a working visit to Samtskhe-Javakheti.
09 February 2008 [12:48]

Ceyhan port's January oil shipment tops 2,000,000 tons

Ceyhan port shipped 27 tankers load of 2,611,376 tons of Azeri oil in January of 2008.
09 February 2008 [12:37]

Kiev-Baku air flight to open on March 30

AeroSvita-Ukrainian airlines will set new international flights in spring of 2008 including to Baku on March 30 and to Almaty on April 26.
09 February 2008 [12:33]

Baku-Tbilisi-Ceyhan pipeline's January transportations top 2,000,000 tons

The Baku-Tbilisi-Ceyhan pipeline transported 2,877,793 tons of Azeri oil in January, 2008.
09 February 2008 [11:16]

Azerbaijan's inflation rate likely to be 20-25% by late 2008

Experts state that market prices will further rise.
09 February 2008 [10:50]

Azerbaijan preparing for second valuation of compliance with standards of International Group for Combat with Financial Irregularities

Azerbaijan is likely to pass the second valuation of compliance with FATF standards (International Group for Combat with Financial Irregularities) in late April of this year.
09 February 2008 [10:28]

Conference on fourth anniversary of Azerbaijan's State Program for Socioeconomic Development of Regions to be held in Baku

A conference on the fourth anniversary of the State Pgram for socioeconomic development of the regions of the Azerbaijan Republic (2004-2008) will be held in the Gulistan palace on February 11-12.
09 February 2008 [10:21]

US Citibank to receive license for opening representative office in Azerbaijan

The US Citibank may receive a license on opening of a representative office in Azerbaijan.
08 February 2008 [17:57]

Azerbaijani companies to take part in Expo-Pakistan 2008

The international exhibition Expo-Pakistan 2008 will be held in Karachi (Pakistan) on March 13-16 of 2008.
08 February 2008 [17:52]

Azerbaijan’s investment expenditures to total AZN 4.2 billion this year

Azerbaijan’s 2008-2011 State Investment Program is predicted to take AZN 15.6 billion, country’s Ministry of Economic Development reports.
08 February 2008 [17:12]

Azerbaijan's grid to be completely upgraded by 2020

Bakielektrikshebeke, power distribution company in Baku, plans to completely upgrade Azerbaijan's grid by 2020, Baba Rzayev, chief of the company, told a press conference.
08 February 2008 [17:07]

Germany’s Commerzbank inaugurates representative office in Baku

Germany’s Commerzbank has inaugurated a representative office in Baku.
08 February 2008 [11:02]

Azerfon launched new campaign “Money Rain – even better!”

Azerfon LLC (Nar MobileTM) offered new campaign “Money Rain – even better!” which has no analogs in the country!
07 February 2008 [18:46]

Targeted social assistance beneficiaries to double in Azerbaijan this year

The number of targeted social assistance benefits beneficiaries will surpass 150,000 in Azerbaijan at the end of 2008 after the standard criterion is raised by 12.5% to AZN 45.
07 February 2008 [18:32]

Azerbaijan self-sufficient in electricity

Azerbaijan generates 73–74 million kilowatt hours daily, according to vice president of energy company Azerenerji Marlen Askerov.
07 February 2008 [18:25]

$40,000,000 allocated for construction of wind power plant in Azerbaijan

The European Bank for Reconstruction and Development has provided financial assistance for implementation of 80 projects in Azerbaijan in the total amount of $720,000,000.
07 February 2008 [17:49]

Azerbaijani composition of Azerbaijan-Tajikistan Joint Commission approved

Azerbaijan President Ilham Aliyev has approved Azerbaijani composition of Azerbaijan-Tajikistan Intergovernmental Commission for Economic Cooperation.
07 February 2008 [16:59]

European commission to provide budget assistance in energy sphere to Azerbaijan

The European Commission has introduced a financial agreement, a program of actions and a list of provisions to ensure budget assistance in the energy sector to the Ministry of Economic Development of Azerbaijan.
07 February 2008 [16:30]

Project of private electric power station in Alyat, Azerbaijan, estimated at $1 billion

Investments into the construction of private electric station with a capacity of 750 MW in Alyat settlement of Azerbaijan is estimated by Korean KEPCO at $1 billion.
07 February 2008 [15:54]

Barcelona to host Spanish-Azerbaijani business-forum

The Spanish-Azerbaijani business-forum will be held in Barcelona (Spain) on April 6-11 of 2008.
07 February 2008 [12:41]

Azerbaijani and Turkish businessmen expanding ties with Kazakhstan

Ahmed Erentok, chairman of the Board of Azerbaijani-Turkish Businessmen Association, paid a visit to Kazakhstan.
07 February 2008 [12:20]

Azerbaijan's economic growth rate makes up 25%

An expanded collegium of Azerbaijan's Ministry of Economic Development was dedicated to the results of the last year.
07 February 2008 [11:06]

Azerbaijan's Economic Development Minister: "Inflation rate might be one-digit in 2008"

Azerbaijan's Minister of Economic Development does not exclude that inflation rate might be one-digit this year.
06 February 2008 [16:18]

Third Azerbaijan-Turkey-Russia business forum to be held in Baku in September, 2008

The third Azerbaijan-Russia-Turkey business-forum is scheduled for September of 2008.
06 February 2008 [15:19]

Commodity turnover between Azerbaijan and Russia to reach $2,000,000,000 in 2008

Our task is to increase the commodity turnover between Azerbaijan and Russia in 2008.
06 February 2008 [14:44]

Azerbaijan to join Cisco Expo-2008

Azerbaijan has been invited to participate in the Cisco Expo – 2008 Conference to be held in Almaty on March 25-26.