Business

25 February 2008 [17:55]

Azerbaijan, Russia sign new electricity deal

Russia’s Inter RAO EES and Azerbaijan’s AzerEnerji have completed negotiations on electricity and signed an agreement.
25 February 2008 [14:22]

Alovsat Aliyev: "Assets earned by our labor migrants abroad make up 70% of family budget of Azerbaijani residents of rural areas"

The outflow of migrants from Azerbaijan has not weakened lately.
25 February 2008 [13:03]

Session of Japan-Azerbaijan intergovernmental commission to be held in Tokyo

The fifth session of the Japan-Azerbaijan intergovernmental economic commission will be held in Tokyo o February 26.
25 February 2008 [11:04]

Azerbaijan to take part in Georgian railroad privatization

The Azerbaijani government intends to participate in the privatization of Georgian railroad.
25 February 2008 [10:51]

Has wanted Russian oligarch bought oil fields in Azerbaijan?

A company, connected with Mikhail Gutseriyev, has bought Azerbaijani fields.
23 February 2008 [11:10]

Ali Abbasov: "Azerbaijan's three mobile operators have been offered frequencies for third generation services"

All of the three GSM mobile operators in Azerbaijan were proposed frequencies for provision of third generation services to their customers.
23 February 2008 [10:30]

Fifth international AutoShow to be held in Baku

The fifth Azerbaijan International AutoShow-2008 will be held in Baku on March 13 to 16.
22 February 2008 [18:06]

Head of the State Customs Committee: "Import of Armenian production to Azerbaijan is prevented opportunely"

Import of Armenian production to Azerbaijan including coffee, has not only trade but also political grounds.
22 February 2008 [16:21]

Italy plans to hold talks on gas supplies with Azerbaijan

Italian Edison SpA intends to hold talks with Azerbaijan to launch project of pipeline Greece -Italy.
22 February 2008 [12:11]

Baku hosts Azerbaijani-Iranian business-forum

The need to intensify Iranian-Azerbaijani economic relations was stressed at a session of the Azerbaijani-Iranian business-forum held under the auspices of AZPROMO.
22 February 2008 [11:08]

Delegation of Azerbaijan takes part in tourism exhibition in Japan

An event on tourism in Central Asia and the Caucasus was held by initiative of Japanese Ministry of Foreign Affairs in Tokyo on February 6-13.
22 February 2008 [10:36]

Investments into first private electric station in Azerbaijan to make up EUR 523,000,000

The South Korean energy company KEPCO estimates the volume of investments into the construction of the first private electric station in Alyaty at AZN 640,000,000 or EUR 523,000,000.
22 February 2008 [10:08]

Nabucco Managing Director: "Azerbaijan will be the first country to pump gas into Nabucco Pipeline"

Azerbaijan is expected to be the first country to pump natural gas into to the Nabucco pipeline which will deliver “blue fuel” from the Caspian Sea to Europe, eroding the continent’s dependence on Russia.
21 February 2008 [18:01]

Mobile communication accounting for 72.6% of incomes in Azerbaijan's communication sector

The communication enterprises of Azerbaijan rendered services in the amount of AZN 56,100,000 in January of 2008.
21 February 2008 [17:51]

Azerbaijani-Iranian business-forum to be held in Baku

The Azerbaijani-Iranian business-forum will be held in Baku tomorrow.
21 February 2008 [15:06]

Mobile communication tariffs likely to be reduced in Azerbaijan

The average cost of mobile services in Azerbaijan does not exceed the average indicator on other CIS countries.
21 February 2008 [15:04]

Ali Abbasov: "Tariffs on international and intercity calls in Azerbaijan have been reduced by almost 2 times through 4 years"

The Azerbaijan Tariff Council has received proposals on reduction of the cost of intercity and international calls twice through the last four years, and took them into account.
21 February 2008 [12:21]

Azerbaijan's governmental delegation to leave for Japan

Iltimas Mamedov, Azerbaijan's deputy minister of communications and information technologies, will pay a visit to Japan capital city Tokyo.
20 February 2008 [15:34]

SOCAR receives credit of $500,000,000

The State Oil Company of Azerbaijan has received an unsecured credit in the amount of $500,000,000 for the term of 3 years.
20 February 2008 [14:57]

Are AZAL assets sold to private structures?

The stock and commercial Azal Bank has changed its brand for Bank Silk Way.
20 February 2008 [13:53]

Azerbaijan's National Bank licenses Citibank for opening representative office in Baku

The National Bank of Azerbaijan has issued a license for opening of a representative office of Turkish Citibank Anonim Shirketi in the country.
20 February 2008 [10:35]

EBRD: "Azerbaijan's 2008 inflation rate to make up 16%"

The European Bank for Reconstruction and Development forecasts inflation rate to make up 16% in 2008.
20 February 2008 [10:18]

President of Azerbaijan ends his visit to Hungary - UPDATED

A business forum has today brought together businesspeople and officials from Azerbaijan and Hungary within the framework of Azerbaijani President Ilham Aliyev’s official visit to Budapest.
20 February 2008 [10:09]

Azerbaijan ready to commence industrial gold production

Azerbaijan International Mining Operating Company plans to produce gold in Gosha Field in spring next year.
19 February 2008 [16:59]

Azerbaijan prepares a project to reconstruct old bridges in Baku

Azerbaijan plans to start reconstruction of old bridges in Baku this year.
19 February 2008 [10:10]

Iran imports gas from Azerbaijan to meet shortage

Iran has begun importing 1 million cubic metres of natural gas per day from Azerbaijan, an Iranian news agency said on Monday, in an apparent move to help compensate for shortages caused by a cut in Turkmen deliveries.
18 February 2008 [18:43]

Further development of Azerbaijani-Estonian venture fund to be determined soon

The Azerbaijan Investment Company is waiting for proposals of the Estonian Caspian Group and Investment bank GILD regarding further activity of the joint venture fund.
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%.