Business

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.
06 February 2008 [14:02]

Yuri Shedrin: "Russia is still leading among countries, supplying commodity to Azerbaijan"

Production of engineering, motor-car, chemical, metal, timber and building industry, as well as foodstuffs and agricultural raw materials make up about 80% of Russia's supplies to Azerbaijan.
06 February 2008 [13:49]

Russia exports over 20,000 cars to Azerbaijan in 2007

Last year 957 dump-trucks, 170 special cars and 165 buses were imported to Azerbaijan from Russia.
06 February 2008 [13:14]

Commodity turnover between Azerbaijan and Russia makes up $1,529,800,000 last year

Azerbaijan's State Statistical Committee reports that the commodity turnover between Azerbaijan and Russia has risen by 0.3% as compared to the same period of 2006 up to $1,529,800,000.
06 February 2008 [12:37]

SOFAZ chief executive receives Swiss ambassador Alain Guidetti

Shahmar Movsumov, chief executive of the State Oil Fund of Azerbaijan, received ambassador of Switzerland to Azerbaijan Alain Guidetti.
06 February 2008 [10:41]

SOCAR to operate Azeri section of Baku-Novorossiysk Pipeline

The State Oil Company of Azerbaijan (SOCAR) has undertaken operating of the Azeri section of Baku-Novorossiysk Oil Pipeline since February 2.
06 February 2008 [10:37]

US to raise aid to Azerbaijan by $1,000,000 in 2009

Financial aid to Azerbaijan has been raised by $1,000,000 in the draft US state budget for 2009 as compared to 2008.
05 February 2008 [15:28]

Greek Minister of Development to visit Azerbaijan

Greek Development Minister Khristos Folias will pay a visit to Azerbaijan in mid March.
05 February 2008 [11:09]

Sturgeon fishing quote for Azerbaijan makes up 90 tons in 2008

Quotes of sturgeon fishing were ratified at a session of the Commission for Caspian biological reserves, held in Ashkhabad on January 29-31 of 2008.
04 February 2008 [17:57]

Azerbaijan likely to earn 400 billion petrodollars in 16 years

Azerbaijan is predicted to earn $400 billion of oil and gas revenues within 16 years, said Azerbaijan’s Industry and Energy Minister Natig Aliyev said in an interview with a group of reporters from the EU countries.
04 February 2008 [15:58]

Azerbaijan not receiving official invitation to participate in "White flow" project

Ukraine has not made any official proposal on Azerbaijan's participation in the "White flow" project.
01 February 2008 [16:29]

Iran likely to receive up to 2,000,000 cubic meters of Azerbaijani gas per day

Iran is interested in purchasing of Azerbaijani gas beginning from 2008 and currently the State Oil Company of Azerbaijan holds talks with the Iranian side on the issue.
01 February 2008 [14:41]

World Fund of Environmental Protection urges not to purchase caviar from Caspian states

The World Fund of Environmental Protection spread a declaration which states the reduction in the number of sturgeons in the Caspian Sea.
01 February 2008 [14:17]

EBRD likely to approve loan for railway project in Azerbaijan, February

The European Bank for Reconstruction and Development (EBRD) is likely to approve the long-expected loan for railway system upgrading project in Azerbaijan.
01 February 2008 [13:57]

Azerbaijan's participation in Convention on cyber-crimes to be discussed

In the near future Azerbaijan's Ministry of Communications and Information Technologies will hold a session to discuss the list of proposals, including notifications and provisions to the European convention on cyber-crimes.
01 February 2008 [11:21]

Limits on local telephone calls not to be applied in Azerbaijan this year

Limits on local telephone calls will not be applied in Azerbaijan in 2008.
01 February 2008 [10:19]

BP damages fertile soil in Samukh, Azerbaijan

BP will restore roads and irrigation canals which it damaged in Samukh region of Azerbaijan.
31 January 2008 [18:29]

Azerbaijan's import and export transactions make up $11,800,000,000 in 2007

In 2007 Azerbaijan conducted import and export transactions in the amount of $11,800,000,000 with 137 countries.
31 January 2008 [17:04]

AzPromo to hold seminar in Kuwait

Azerbaijan Export and Investments Encouragement Fund (AzPromo) plans to arrange Azerbaijan's presentation and an investment seminar in Kuwait.
31 January 2008 [15:16]

Foreign credits raised by Azerbaijan total $2,441,900

The amount of foreign credits, raised by Azerbaijan, made up $2,441,900 as of January 1 of 2008.
31 January 2008 [14:13]

Azerbaijan and Philippines to sign several interstate agreements

Azerbaijan has presented the initial variant of some interstate agreements to Philippines, Azerbaijani Ambassador Extraordinary and Plenipotentiary to Philippines Ibrahim Hajiyev told APA.
31 January 2008 [13:41]

IBA opens representative office in Luxembourg

The International Bank of Azerbaijan has established its representative offices in Luxembourg.
31 January 2008 [13:30]

Azerbaijan, Jordan to cooperate in education

Discussions of prospects of cooperation in the sphere of education were initiated between Azerbaijan and Jordan in Baku.
31 January 2008 [10:01]

Ukraine imposes ban on import of pork from Azerbaijan

Ukraine has imposed a ban on the import of pork from Azerbaijan, APA reports.
30 January 2008 [18:56]

Azerbaijan's external debt makes up $2,441,900,000

Azerbaijan's external debt made up $4,441,900,000 as of January 1 of 2008 which is 8.2% of country's GDP.
30 January 2008 [17:44]

Abulfaz Garayev: "One million tourists in Azerbaijan is a real figure"

The number of tourists who visited Azerbaijan in a year has risen by 11%.
30 January 2008 [17:01]

Telpher and underground to connect Baku with Sumgayit

The delegation of South Korean Jinhung will launch preliminary works on the construction of Light rail construction telpher between Baku and Sumgayit in February of 2008, APA reports with reference to the Korean Embassy to Azerbaijan.
30 January 2008 [16:03]

US Goldman Sachs International interested in project implementation in Azerbaijan

US Goldman Sachs International is ready to render consulting services to Azerbaijani enterprises in banking, telecommunication, industrial and energy sectors.
30 January 2008 [15:35]

Azerbaijani delegation to take part at World Labor Organization's seminar

A delegation of Azerbaijan's Confederation of Entrepreneurs will take part in the seminar of the World Labor Organization to be held in Turin (Italy) in February-March of 2008.
30 January 2008 [15:09]

Customs tariffs not to be changed in Azerbaijan in 2008

It is not planned to review customs tariffs in Azerbaijan by the end of the year.
30 January 2008 [13:09]

Fifth session of Japanese-Azerbaijani intergovernmental economic commission to be held in Tokyo

Tokyo is preparing to host the fifth session of the Japanese-Azerbaijani intergovernmental economic commission on February 25-26, Novosti-Azerbaijan reports with reference to Azerbaijani embassy to Japan.
30 January 2008 [12:21]

Price of Yeni Musavat opposition newspaper to go up

The price of the Yeni Musavat newspaper will go up, a source in the Institute for Reporters' Freedom and Safety told Day.Az.
30 January 2008 [11:58]

Heydar Babayev: "Communication tariffs will not be raised in Azerbaijan"

Communication tariffs will not be raised in Azerbaijan, Heydar Babayev, Minister of Economic Development and chairman of the Tariff Council of Azerbaijan, said, Day.Az reports with reference to ANS TV channel.
30 January 2008 [11:33]

Attempt to smuggle Armenian alcohol drinks to Azerbaijan prevented

The State Customs Committee liquidated Armenian-made foodstuffs and drinks, smuggled to Azerbaijan.
29 January 2008 [18:11]

Azerbaijani companies take part in "Green week" international exhibition

The "Greek Week" International Exhibition was held in Berlin on January 18-27.
29 January 2008 [16:51]

Nearly 1100 cabstands to be opened in Baku

There is a plan to create more than 1100 cabstands in
29 January 2008 [15:53]

Azerbaijan to purchase JF-17 pursuit planes from Pakistan

Azerbaijan will purchase JF-17 pursuit planes from Pakistan.
29 January 2008 [15:36]

Number of bridges, pedestrian crossings and car parks to rise in Baku in four years

In the framework of the Program on Improvement of Transport System of Baku for 2008-2011, Azerbaijan’s Ministry of Transport will submit the Plan of Actions for approval to the President.
29 January 2008 [14:03]

Second session of Azerbaijani-Latvian intergovernmental economic commission to be held in Riga

The second session of the Azerbaijani-Latvian intergovernmental economic commission to be held in Riga in the second half of 2008.
29 January 2008 [11:13]

Joint venture fund to be established in Azerbaijan

The Azerbaijan Investment Company signed a memorandum of mutual understanding regarding creation of a joint venture fund with the GILD Investment Bank and Estonian Caspian Group.
29 January 2008 [10:20]

Azerbaijan and BSTDB sign memorandum of mutual understanding

The Azerbaijan Investment Company signed a memorandum of mutual understanding with the Black Sea Trade and Development Bank on January 28.
28 January 2008 [18:33]

Azerbaijan to build oil refinery in Ukraine

Azerbaijan will build a state-of-the-art oil refinery in Ukraine, the country’s president Viktor Yushchenko told on 1+1 TV channel.
28 January 2008 [16:21]

Azerbaijan to monitor market of alcohol drinks and tobacco wares in February

Azerbaijan’s Agriculture Ministry plans to monitor outlets selling alcoholic drinks and tobacco wares across the country.
28 January 2008 [15:53]

One more footbridge under construction in Baku, Azerbaijan

Construction of the second footbridge has commenced in Baku, Punhan Mursaliyev, spokesman for the State Company Azeri Road Service State Company, said.
28 January 2008 [15:13]

Azerbaijan lays the first suspension bridge

A suspension bridge will be constructed in the road overpass and junction near Azizbayov Metro Station in Baku, Punhan Mursaliyev, spokesman for the Azeri Road Service State Company.
28 January 2008 [13:22]

Licenses of 4 producers and 7 importers of vodka withdrawn in Azerbaijan

Azerbaijan's Ministry of Agriculture suspended licenses of 4 producers and 7 importers of vodka in 2007.
28 January 2008 [13:11]

President of Azerbaijan Institute of Tourism: "If we want to benefit from tourism, each of us should work professionally in this sector"

Azerbaijan must do a lot in the sphere of tourism so that to occupy a worthy place on the global market.
28 January 2008 [12:28]

Ilham Aliyev to take part in energy summit in Kiev

President of Azerbaijan Ilham Aliyev will visit Ukraine to take part in energy summit in May, Novosti-Azerbaijan reports with reference to the Embassy of Azerbaijan to Ukraine.
28 January 2008 [12:14]

Delegation of Azerbaijani entrepreneurs to visit Greece

An international exhibition of agricultural facilities, equipment and reserves Agrotica-2008 will be held in Saloniki (Greece) on February 6-10 with participation of Azerbaijani companies.
26 January 2008 [15:50]

State Statistical Committee: "There are more than 50,000 unemployed people in Azerbaijan"

As of January 1, Azerbaijan’s economically active population reached 4.295,000, of which 4,010,000 have jobs, State Statistical Committee announces.
26 January 2008 [15:20]

Azerbaijan to open new military enterprises

Azerbaijan will launch a number of new military enterprises this year, a source in the government said.
26 January 2008 [14:33]

Azerbaijan, Switzerland sign memorandum of ICT cooperation

Azerbaijan’s Ministry of Communications and Information Technologies and Swiss Federal Department of Environment, Transport, Energy and Communications signed a Memorandum of Understanding in cooperation in ICT sector in Davos.
26 January 2008 [11:31]

Azerbaijan likely to start receiving 80% of revenues from Azeri-Chirag-Guneshli

Azerbaijan's share in the project of a large-scale development of the Azeri-Chirag-GUneshli fields has risen from 25% up to 50% this year.