Business

11 January 2007 [22:25]

Utilities price hike sparks anger in Azerbaijan

The Azerbaijani government has provoked popular anger with a series of price rises for public commodities and services. The hikes hit gasoline and public transportation, as well as natural gas, water, and electricity.
11 January 2007 [22:11]

Transport Ministry wants prices to be increased again

The Transport Ministry of Azerbaijan intends to request the Government for more rises in the bus fares for Ganja, Sumgait and other big cities because of the hike in fuel prices.
11 January 2007 [15:23]

EU energy strategy supports Azerbaijani gas delivery to Central Europe

European Commission released energy strategy of the European Union.
11 January 2007 [15:16]

Turkish Airlines not to change tickets' price

Rise of charges for fuel will not influence the prices of tickets of Turkish Airlines Company.
11 January 2007 [13:13]

Indian BPCL buys 1 mn bbls of Azeri Lt. crude

Indian state-run refiner Bharat Petroleum Corp bought a hefty 1 million barrels of Azerbaijan's Azeri Light crude for March loading from BP, together with 1.1 million barrels of Masila crude from Canadian trader Nexen, comprising a 500,000 and a 600,000-barrel cargoes. Price details were not disclosed.
11 January 2007 [13:10]

Trade exchange between Iran, Azerbaijan up 30%

Trade and economic exchange between Iran and Azerbaijan increased 30% in 2006, Iranian Ambassador to Azerbaijan Afshar Soleimani said.
11 January 2007 [02:34]

Final version of Baku-Tbilisi-Akhalkalaki-Kars railway project to be discussed

Transport Ministers of the participant countries will discuss the final version of Baku-Tbilisi-Akhalkalaki-Kars railway project in Tbilisi on January 12.
11 January 2007 [02:33]

Voronej Province Trade-Industry Chamber mission to visit Azerbaijan

A delegation of Russia's Voronej Province businesspeople will pay a visit to Azerbaijan this year.
11 January 2007 [02:32]

ADB mission to visit Baku

The Asian Development Bank's mission for transport will pay a visit to Azerbaijan in late January.
11 January 2007 [02:32]

Vilma Oil S.L. wins tender for Azeri Lt. crude export

Swiss Vilma Oil S.L. has won the tender announced by the SOCAR Marketing and Economic Operations Department.
11 January 2007 [02:28]

Azerbaijan-Moldova intergovernmental commission to meet

The second meeting of the Azerbaijan-Moldova Intergovernmental Commission on Economic Cooperation will be held in early this year.
11 January 2007 [02:24]

Azercell installs 30 more stations

Azercell Telecom JV continues its work on expanding field of its coverage and to provide high-quality telecommunication services in the country.
11 January 2007 [02:23]

Bank to join Contact System

Travelex's CIS representative will give training for the officers of the AtaBank in the second half of this year. This system will be used in all branches of the bank.
11 January 2007 [02:20]

INTEX-2007 exhibition to be held

The second International Industry & Trade Exhibition (INTEX-2007) will be held from 13 to 16 February 2007 at Kish International Exhibition Centre, Iran.
11 January 2007 [02:19]

Swiss company wins tender for aircraft fuel export

A Swiss TOTSA, has won the tender announced by the SOCAR Marketing and Economic Operations.
11 January 2007 [02:02]

Over 3 000 Azerbaijanis work illegally in Mangistau, Kazakhstan

An operation 'Migrant' was conducted for revealing illegal migrant labors in the district Mangistau, Kazakhstan.
11 January 2007 [02:01]

222,600 tons of fuel saved in thermal power plants in 2006

222,600 metric tons of fuel were economized on during 2006.
11 January 2007 [01:52]

Trades at BICEX, Jan. 9

The weighted average exchange prices made up 0,8714 AZN for 1 US dollar in the Baku Interbank Currency Exchange on January 10.
11 January 2007 [01:50]

$300 million to be invested in Azerfon

Azerfon LLC, the third GSM operator will serve about 1,5 mln subscribers on the Azerbaijan market in 2007, the company's Director General John Armil said.
11 January 2007 [01:31]

Azerbaijan delays gas supplies to Georgia

The start of natural gas supplies from Azerbaijan to Georgia has been delayed for two days till January 12.
11 January 2007 [01:30]

Georgia will not refuse from Kars-Akhalkalaki railway despite US position

The Kars-Akhalkalaki railway will be constructed despite US Congress position, stated Georgian Prime Minister Gela Bezhuashvili today after the end of the session of Georgian government.
11 January 2007 [01:28]

Downhole Products awarded contract by BP Exploration (Caspian Sea) Ltd

Downhole Products Plc has been awarded a contract by BP Exploration (Caspian Sea) Ltd to provide a comprehensive range of specialist casing and cementing accessories for use in the Azerbaijan sector of the Caspian Sea.
11 January 2007 [00:54]

Azerbaijan Publishing House to raise printing and rental prices

Azerbaijan publishing House will soon raise printing and rental prices.
10 January 2007 [17:49]

Kazakhstan to raise wheat price to Azerbaijan

Kazakhstan plans to increase the price of wheat exports being sold to Azerbaijan and has already sent proposals to the Government of Azerbaijan.
10 January 2007 [16:15]

Hadi Radjabli: "Tariff Council may reconsider prices"

"I am sure that President will react to the increase of prices. Tariff Council may reconsider the decision on increase of prices. The government will take additional measures on the issue," Milli Majlis social politics permanent commission Chief Hadi Radjabli told reporters.
10 January 2007 [16:06]

Bread price jumps 50% in Azerbaijan

The price bread rose to 30 kopecks from 20 kopecks a loaf in Baku and Ganja. Bakeries don't rule out further price hike as well after the price of energy supplies sharply went up.
10 January 2007 [14:35]

Detained plane not on rout to Baku

The spread information about An-22 airplane, that was carrying oil equipment produced in the U.S to Azerbaijan was not allowed as the airplane crew was drunkard, is not right, Azerbaijan Airline State Company department chief Maharram Seferli stated.
10 January 2007 [13:49]

Azerbaijan gas heading for Georgia

Azerbaijan starts gas supplies to Georgia on Wednesday and will dispatch daily about 1 million cubic meters of natural gas for US$ 120 per 1,000 cubic meters, a spokesperson for Georgian Energy Ministry told.
10 January 2007 [13:42]

Azerbaijan may resume oil exports via Russia

Azerbaijan may resume oil exports to Europe via a Russian-controlled pipeline-Baku-Novorossiysk route.
10 January 2007 [13:38]

New chairman of NBA's Nakhchivan office appointed

Nakhchivan Autonomous Republic Supreme Council chief Vasif Talibov decreed on appointing new chairman of the office of National Bank in Nakhchivan.
10 January 2007 [13:37]

Bus fares change in Nakhchivan

The Cabinet has changed in-city and intercity bus fares in Nakhchivan Autonomous Republic.
10 January 2007 [13:25]

Bread price rise in Ganja

The price of the bread has risen in Ganja since Wednesday. The sellers told that bread will cost 30 kopeks in Ganja since January 10.
10 January 2007 [13:17]

Azerbaijan to buy 6 locomotives this year

Azerbaijan state Railway Company carried 5.8m passengers and 29.6m tons of freight during 2006.
10 January 2007 [13:17]

Gas delivered to Azerigas with a shortage of 9.5%

582.82m cubic meters of gas were delivered to Azerigas against the planned 643.75m in December, 2006.
10 January 2007 [13:16]

World Bank mission to visit Baku

World Bank mission for water supply and drainage project will pay a visit to Azerbaijan on January 10.
10 January 2007 [13:15]

France-Azerbaijan intergovernmental commission meeting

Paris hosted the 4th meeting of France-Azerbaijan Intergovernmental Commission on Economic Cooperation.
10 January 2007 [13:14]

Azerbaijan imported 4.48bn cu m of Russian gas in 2006

State Oil Company of Azerbaijan (SOCAR) imported 470.1m cubic meters of Russian gas to fuel power stations in December, 2006.
10 January 2007 [13:13]

Latvian Commerce-Industry Chamber representatives to visit Baku

A mission of Latvian Commerce and Industry Chamber intends to pay a familiarization visit to Azerbaijan this year.
10 January 2007 [11:24]

Azerbaijan oil output surplus 1.2%

Azerbaijan produced 756,680 tonnes of oil against the planned 747,350 tonnes with an excess of 1.2% in December, 2006.
10 January 2007 [11:20]

Azerbaijan exports 338 940 tons of gasoline

The SOCAR Marketing and Economic Operations Department exported 27,471 metric tons of automobile gasoline, 125,799 tons of diesel fuel, 13,112 tons of aircraft fuel, 114 tons of heating fuel oil, 4,795 tons of lubricants and 1,181 tons of oil bitumen during December, 2006.
10 January 2007 [11:13]

Nakhchivan electricity grid receives 1,172m kilowatts of electricity last year

Nakhchivan electricity grid received 148.011m kilowatts of electricity in December, Azerenergy told.
09 January 2007 [23:12]

Armenia posts record-high trade deficit

Armenia's external trade deficit reached a new record-high level last year, surpassing the $1 billion mark due to flat exports and a stagnant manufacturing sector, according to government statistics reported on Monday.
09 January 2007 [22:02]

Turkey, Israel to build pipelines connecting Black Sea to Red Sea

Turkey and Israel have provisionally agreed to build a pipeline system connecting the Black Sea to Red Sea, Turkish Energy Minister Hilmi Guler said.
09 January 2007 [21:50]

Trades at BICEX, Jan. 9

The weighted average exchange prices made up 0.8714 AZN for 1 US dollar in the Baku Interbank Currency Exchange on January 9.
09 January 2007 [21:46]

Azerbaijan, Russia agree on price of electricity deliveries

Azerbaijan and Russia have agreed on amounts and prices of mutual electric energy deliveries in 2007.
09 January 2007 [21:37]

Government to compensate displaced people for utilities prices rise

Amid the sharp increase of energy prices as well as utilities fees in Azerbaijan, the Government said it would continue to provide the set amount of kerosene for internally displaced people (IDP) who have no gas.
09 January 2007 [21:14]

Armenia interested in Transcaspian Pipeline Project

Armenia is looking to benefit from an ambitious project to build a natural gas pipeline that would stretch from Central Asia to Turkey and Europe via the Caspian Sea, Foreign Minister Vartan Oskanian said on Tuesday.
09 January 2007 [21:00]

Ogtay Hagverdiyev: "Economic mechanism ineffective to rein economically baseless inflation"

"Sharp treble rise in the price electricity is a mistake. The price should be gradually increased on the basis of economic estimation," said Ogtay Hagverdiyev, Cabinet's Financial Policy official.
09 January 2007 [20:55]

Microsoft, Cisco to participate in creating Azerbaijan's e-government

According to AT report, IT giants Microsoft and Cisco introduced proposals for creating e-gov in Azerbaijan.
09 January 2007 [17:46]

Government sets price on cement

The Economic Development Ministry of Azerbaijan and Garadagh Cement have released the standard selling price imposed on the cement for domestic market.
09 January 2007 [17:45]

Workgroup on Azerbaijan's admission to WTO to meet in March-April

Meeting of the workgroup on Azerbaijan's admission to the World Trade Organization will be held in March-April.
09 January 2007 [17:37]

Car price rise forecasted in Azerbaijan

"We should wait at least for the index of the first quarter in order to decide how the price of cars will be affected by the price hike in gasoline on the domestic market," said Natig Zarbaliyev, chair of Azerbaijan Association of Automobile Dealers.
09 January 2007 [11:27]

Thames Insurance to increase nominal capital by five times

Thames Insurance Company, operating in Azerbaijan, intends to increase its authorized capital to AZN 3m in 2007.
09 January 2007 [11:16]

23.008bn KW/h electricity generated in Azerbaijan in 2006

Electricity production rose 1.5bn kilowatts/h, year-over-year, to 23.008 billion in 2006.
09 January 2007 [11:15]

BSE's turnover up 3.7 times in 2006

In total the deals closed on all instruments at the Baku Stock Exchange during 2006 stood at approx. AZN 1 388 497 000.
09 January 2007 [11:14]

AZAL not to increase air ticket price

Azerbaijan Airlines State Company doesn't intend to increase the price of air tickets despite the Tariff Council's decision to increase the selling price of oil products is effective since Jan. 8.
09 January 2007 [11:14]

Customs inspectors confiscate 50,000 blocks of cigarettes

KamAZ-5511 truck controlled by Gahraman Guliyev was detained by officers of Azerbaijan State Customs Committee in Guba-Baku road.
09 January 2007 [11:12]

Georgia to import Azeri gas from Jan. 10

Georgia will buy 3 cubic meters of Azeri gas per day from January 10 through 20.
09 January 2007 [10:33]

Russia to notify Baku of electricity prices on Jan. 15

January 15 RAO EES (Unified Energy Systems) will tell Azerbaijan how much it is going to charge for electricity import in 2007, Azerenergy Vice-President Marlen Asgarov stated.
09 January 2007 [00:10]

Trades at BICEX, Jan. 8

The weighted average exchange prices made up 0,8714 AZN for 1 US dollar in the Baku Interbank Currency Exchange on January 8.
09 January 2007 [00:05]

EU calls for new low-carbon power revolution as it seeks to cut oil imports

The European Union will call for "a new industrial revolution" on Wednesday as it tries to cut its addiction to imported oil and slash the carbon emissions blamed for global warming.
08 January 2007 [23:07]

SOCAR and NBA acquire building in Tbilisi

The Azerbaijan State Oil Company (SOCAR) and the International bank of Azerbaijan have acquired buildings in Tbilisi to open their offices.
08 January 2007 [18:39]

Baku Steel Company shuts down indefinitely

Since early January Baku Steel Company has shut down because of metal shortage.
08 January 2007 [18:13]

Fuel price hike may triple annual inflation rate

Azerbaijan's Transportation Ministry has started to monitor the influence of the increase of fuel prices on transport sector, said Minister Musa Panahov.
08 January 2007 [15:59]

SOCAR stops oil pumping via Baku-Novorossiisk pipeline

The State Oil Company of Azerbaijan (SOCAR) has stopped oil pumping through the northern route - Baku-Novorossiisk pipeline.
08 January 2007 [13:56]

New spills crisis threatens BP

Embattled oil giant BP was plunged into another environmental crisis today amid claims that a crucial 1100-mile pipeline linking the Caspian Sea and the Mediterranean had a flaw that could trigger disastrous oil spills and devastating pollution.
08 January 2007 [00:40]

Gasoline, electricity and water prices rise in Azerbaijan - UPDATED

On Sunday Azerbaijan's Tariff Council approved new prices.
07 January 2007 [21:20]

Liquefied gas price hike in Ganja

In Ganja the price of liquefied natural gas rose 4 kopecks to 24 kopecks per liter.
07 January 2007 [21:08]

CIS Statistics Committee says Azerbaijan's economy growth 30% in 2007

The Statistics Committee of the Commonwealth of Independent States (CIS) has released prediction that gross domestic product (GDP) of Azerbaijan will beat 30% in 2007, this country will leave other CIS states far behind.
07 January 2007 [02:10]

Iran will resume gas flow to Turkey

Iran has still not restored natural gas exports to Turkey but has said gas flow will resume by tomorrow at the latest, a Turkish energy official said yesterday.
06 January 2007 [13:58]

Iran gas ready for Armenia

Iran has completed setting up the facilities required for the exportation of natural gas to Armenia.
06 January 2007 [13:51]

Sangachal-Gazimammad gas pipeline to be constructed

Sangachal-Gazimammad gas pipeline of 47 kms to be constructed in order to extend transportation and to ensure safety of Shah Deniz gas in Azerbaijan.