24 January 2006 [22:23]

Azeronline refuses from legal hearing with CITM & EDM

"Internet provider Azeronline Ltd intends to recall the lawsuit in regard to the Communications and Information technologies Ministry and the Department for Antimonopoly Policy of the Economic Development Ministry," told Elchin Aghakishiyev, the Director of the Company.
24 January 2006 [22:18]

The Bank of New York became winner of SOFAZ tender on attracting depositary services

State Oil Fund of Azerbaijan (SOFAZ) completed tender procedures which started on September 16, 2005 for the selection of a global custodian bank.
24 January 2006 [18:51]

Gasprom reduces gas supply to Azerbaijan

This gas for own needs of the country only, but not for delivery to third side.
24 January 2006 [18:35]

Taxes Ministry cancelled registration of 1,436 VAT-payers

"From 2001 to 2005 the total sum, concealed from payment of VAT, comprised around 17trln manats," Natig Amirov, the deputy Taxes Minister, said to a news conference dedicated to changes included into the Tax Code in relation to registration of VAT.
24 January 2006 [16:18]

Fitch affirms Azerbaijan ratings at BB

Fitch Ratings affirmed Tuesday Azerbaijan's foreign and local currency issuer default ratings at "BB" with a stable outlook, along with the same rating for the country ceiling.
24 January 2006 [15:58]

Shahdeniz Project about completion this year

The Shahdeniz 2006 capital expenditure budget is $865 million.
24 January 2006 [15:08]

Zurab Gumberidze: "Georgia is likely to receive gas from Azerbaijan of 3-4 million cubic meters a day"

The issues of the gas supplies from Azerbaijan to Georgia in the volume of 3-4 million cubic meters daily have been discussed during the visit of the Georgian government delegation to Baku.
24 January 2006 [05:50]

Agreement on export of Kazakhstan's oil by means of Baku-Ceyhan pipeline to be signed in these days

An agreement on export of one part of Kazakhstan's oil to the world market by means of the Baku-Tbilisi-Ceyhan (BTC) pipeline is expected to be signed by the governments of Azerbaijan and Kazakhstan in these days.
24 January 2006 [05:35]

State Committee for Securities registered emission prospectus of T-bills totaling AZN 190 million

The State Committee for Securities (SCS) registered emission prospectus of T-bills for 2006.
24 January 2006 [05:33]

"Azinvestbank" CB renamed to "Eurobank" OJSC

The Azinvestbank Commercial bank (CB) changed its organizational-juridical form and name and will be called "Eurobank" OJSC from this moment on.
24 January 2006 [05:29]

Foreign trade turnover of Azerbaijan reached USD 7.9 billion in January-November

In January-November of 2005 Azerbaijan implemented trade operations with foreign countries in amount of USD 7.9 billion or exceeding the same period's figure of 2004 by 28.8%.
24 January 2006 [05:25]

In 2006 proceeds and expenses of Ministry of Communications and Information Technologies to increase by 5.8% and 6.5% respectively

The proceeds and expenses of the Ministry of Communications and Information Technologies are forecasted to increase by 5.8% and 6.5% respectively in 2006. Pursuant to the estimate indicators approved by the Cabinet of Ministers the other day, the incomes and charges of the Ministry will total AZN 147 million and AZN 149 million respectively in the current year.
24 January 2006 [05:14]

Delivery of electric energy to Georgia may cause shortage of energy in Azerbaijan

The Azerenergy Joint-Stock Company (JSC) will deliver 30 megawatts of electric energy to Georgia daily until the accident happened in the electric main crossing to Georgia through the territory of Northern Ossetia is removed.
24 January 2006 [04:35]

Cargo and passenger traffic increased by 9.2% and 4.8% respectively in transport sector last year

Last year 128 million tons of cargo and 1 billion passengers were transported by transport companies and physical persons operating in the field of motor transport.
24 January 2006 [04:32]

"Azerdemiryolbank" JSB attracted over $9 million of foreign investment last year

Volume of assets of the Azerdemiryolbank Joint-Stock Bank (JSB) formed AZM 248.8 billion as of the beginning of the current year and this exceeds the previous year figure by 71.7%.
24 January 2006 [04:27]

International Airport holds tender on procurement of papery goods

The International Airport named after H.Aliyev announced an open tender consisting of 1 lot on procurement of papery goods.
24 January 2006 [04:17]

Organic Synthesis plant increased production by 46.4% last year, but Ethylene-Polyethylene plant may stop functioning

The Organic Synthesis plant of the Azerkimya State Company (SC) manufactured produce amounting to AZM 963.3 billion last year and this exceeds the same figure of 2004 by 46.4%.
24 January 2006 [04:00]

The 3rd meeting of Council of heads of state structures balancing markets of securities of CIS countries to be held in Moscow

The 3rd meeting of the Council of the heads of state structures balancing markets of securities of CIS countries will be held in Moscow in June this year.
24 January 2006 [03:20]

Board meeting on last year results held in Nakhchivan State Customs Committee

In a board meeting held by the State Customs Committee (SCC) of the Autonomous Republic of Nakhchivan (ARN) the Head of the Committee Asaf Mammadov made a speech on activities carried out in 2005 and tasks ahead.
24 January 2006 [03:12]

Arif Veliyev: "Inflation is expected to be 8-9% this year"

Rate of inflation is expected to be under 10% in Azerbaijan this year.
23 January 2006 [21:27]

North Sea oil bonanza "played down"

Newly released papers show that, in 1975, the Treasury was alarmed by the prospect that if the Scots realised how much oil lay under "their" territorial waters, there would be unstoppable pressure for independence.
23 January 2006 [16:52]

Azerbaijani and Georgian Energy Ministers meet in Baku

On Monday the Azerbaijani Energy and Industry Minister, Natig Aliyev received his Georgian counterpart N.Gilaurio, the President of the Georgian International Oil Corp., N.Vashakidze, and the President of the Georgian International Gas Corp., D.Ingorokvu.
23 January 2006 [16:13]

Kavkaztransgaz constructs branch line of N.Caucasus-S.Caucasus gas pipeline

Kavkaztransgaz Ltd. continues repair work to liquidate the consequences of the explosion on the 133-km Northern Caucasus-Southern Caucasus gas-main pipeline.
23 January 2006 [16:07]

Azerbaijan to deliver 30MW energy to Georgia

The Azerbaijani energy system has transferred to parallel work regime with Georgia. As a result, Georgia will receive 30 MW of electricity.
23 January 2006 [14:24]

Azeri oil market: results of week

From 16 through 20 January URAL (EX-NOVO) average price, sold by Azerbaijan in Novorossiysk port, was $59.15 per barrel or rose $3.85 barrel as compared to the last week (9 - 13 January).
23 January 2006 [12:52]

CDMA-subscribers of BTC exceed 500

The number of the CDMA-subscribers (Code Division Multiple Access) of the Baku Telephone Communications Production Association (BTC PA) exceeds 500.
23 January 2006 [12:22]

Azerbaijan to deliver gas to Georgia via Kazakh district

The Russian company Gasprom made a decision on increase of natural gas delivery to Azerbaijan for further supply to Georgia in connection with the incident in the Mozdok-Tbilisi gas pipeline.
22 January 2006 [17:32]

Georgia intersted in Kazakhstan's participation in BTC project

Nino Burjanadze visits Kazakhstan.
22 January 2006 [17:28]

Draft Agreement to be signed

The Kazakh government, along with oil, also is interested in transportation of gas produced in its territory through Azerbaijan to Georgia, Turkey and further to Europe.
22 January 2006 [05:13]

Volume of Gross Domestic Product increased by 26.1% in the country last year

Chief of State Statistics Committee Arif Valiyev announced macro-economic indications of economic and social development of the country for 2005 in the press conference today.
21 January 2006 [16:19]

Electronic money orders system applied in Azerbaijan

New system to help "Azerpocht"
21 January 2006 [15:42]

Azerbaijan increased production of oil products in 2005

In 2005 Baku-based oil refinery plants, including the Oil Refinery Plant and Azerneftyag SOCAR produced 7.3m of different oil products against 6.25m tons in 2004.
21 January 2006 [13:07]

CIS Oil and Gas 2006 Summit due in Paris from 31 May to 2 June

The Energy Exchange Ltd company reports that the annual International CIS Summit on Oil and Gas: Russia, Ukraine, Caspian and Central Asia will take place this year in Paris from 31 May to 2 June 2006.
21 January 2006 [12:51]

Airbus surprises by beating Boeing for orders in 2005

European plane maker Airbus says it has again won the number one position for passenger aircraft orders thanks to a surge in end of year sales.
21 January 2006 [12:47]

Oil price hits three-month high over Nigeria and Iran supply worries

Worries over potential disruptions to oil supplies have caused the price of crude to climb to its highest in over three months.
21 January 2006 [12:41]

Russia rejects Ukrainian meat and dairy produce

In a further sign of strained relations, Kiev is demanding that Russia lift a ban imposed yesterday on Ukrainian dairy products.
21 January 2006 [05:23]

Mechanism of privatization of state property to be improved

"Hot line" to operate during 24 hours will be put to operation in the State Committee on State Property Management (SCSPM) soon.
21 January 2006 [04:00]

Chief of Metro says no discussions held in Tariff Council on raising fare in metro

The Tariff Council has not discussed the issue on raising fare in the Metro.
20 January 2006 [19:35]

Nestle takes world ice cream lead

Food giant Nestle has become the world's biggest ice cream maker after taking full ownership of US firm Dreyer's Grand Ice Cream.
20 January 2006 [04:16]

Organization Committee of Russian-Azerbaijani Economic Forum held its first meeting today

The Organization Committee of the Russian-Azerbaijani Economic Forum which is intended to be held in Baku on February 22-25 has got its first meeting today.
20 January 2006 [04:10]

Government to take serious measures against those intending to raise price of bread

Although the government does not fix the price of bread, it will take serious measures against companies intending to raise the price of bread in connection with increase of price of fuel.
20 January 2006 [04:03]

Regular meeting of Council of Heads of CIS Customs Services was held in Saint-Petersburg

The 42nd meeting of the Council of the Heads of the Customs Services of the CIS-participating countries started on January 19 in Saint-Petersburg city of Russia.
20 January 2006 [03:57]

Prosecutor Office of Republic holds tender on procurement of goods and equipments in 2006

The General Prosecutor Office of Azerbaijan announced an open tender on procurement of goods and equipments in 2006.
20 January 2006 [03:50]

It will be possible to watch TV by means of telephone lines from March

Subscribers will be able to watch TV by means of stationary telephone communication from February-March months of the current year.
20 January 2006 [03:27]

Insurance Training Centre to start operation in Baku in April

The Azerbaijan Insurance Companies Union (AICU) completed all documentation works for establishment of the Insurance Training Centre (ITC) in Baku and short-term courses for employees of insurance companies to be started in the Centre this year, in April.
20 January 2006 [03:10]

All automated telephone stations in Baku to be completely electrified till end of year

All automated telephone stations (ATS) in Baku will be completely electrified during this year.
20 January 2006 [02:56]

Service tests implemented in Ceyhan terminal

Service tests are currently implemented in Ceyhan terminal of the Baku-Tbilisi-Ceyhan (BTC) main oil export pipeline. After the tests the terminal will be completely ready to receive oil.
20 January 2006 [02:52]

Transport mission of World Bank to investigate problems of Baku

The urban transport mission of the World Bank (WB) will visit Baku on February 2.
20 January 2006 [02:29]

Azerenergy to expand cooperation with Baku Steel Company

"The Azerenergy Open Joint-Stock Company (OJSC) does not decline to cooperate with the Baku Steel Company and is ready to sell waste metal to the Company".
20 January 2006 [02:14]

Rahim Huseynov: "No monopoly exists in the building sector of Azerbaijan"

"No monopoly exists in the building sector of Azerbaijan and none of the building companies have shares exceeding 35% in the market".
20 January 2006 [01:48]

Placement of yesterday's emission of notes of National Bank completed today

Additional placement of short-term notes of National Bank of Azerbaijan (NBA) with the state registration number 50100312S was held in Baku Stock Exchange (BSE).
19 January 2006 [15:38]

BTC-pumped oil to reach Ceyhan terminal in March

The oil pumped to the Baku-Tbilisi-Ceyhan pipeline at the Sangachal terminal will reach the Turkish port Ceyhan in March, Azerbaijan International Operating Company said.
19 January 2006 [05:07]

Public organizations complain of violation of rights of oil-workers by foreign oil companies

The Guardians Humanitarian Organization and Information and Resource Center on Oil Industry of Azerbaijan held a conference on "Policy and activity of foreign oil companies in Azerbaijan" today.
19 January 2006 [04:53]

Ministry of Economic Development to monitor cellular phone market

The Antimonopoly Policy Department of the Ministry of Economic Development will monitor the cellular phone market of the country.
19 January 2006 [04:41]

Agricultural mission of World Bank visited Baku today

World Bank's agricultural mission headed by Frauke Yunglut visited Baku today.
19 January 2006 [04:39]

Ministry of Transport offers to decrease benefits in international and transit cargo traffic by 5-40%

The Ministry of Transport intends to decrease benefits currently applied in international and transit cargo traffic by 5-40%.
19 January 2006 [04:20]

Azercell signed GPRS/MMS roaming contract with 3 more foreign cellular operators

The Azercell Telecom Joint Enterprise (JE) signed GPRS/MMS roaming contract with 3 more foreign cellular communication operators – "People" of Hong Kong, "Tele 2" of Estonia and "Mobitel" of Slovenia.
19 January 2006 [04:17]

National Bank of Azerbaijan placed notes totaling 5.01 million manats today

An auction on placement of short-term notes with the state registration number 50100312S of the National Bank of Azerbaijan was held in the Baku Stock Exchange (BSE) today.
19 January 2006 [04:01]

Small privatization generated 10.9 million AZN of revenue in state budget in 2005

Over 1600 small state enterprises and establishments were privatized in 2005 in the result of the measures implemented by the State Committee for State Property Management.
19 January 2006 [03:52]

World Bank approved $200 million credit for rehabilitation of Alat-Astara and Baku-Shamakhi roads

A decision on disbursement of $200 million credit for the Azerbaijan Highway II Project was taken in a meeting of the Board of Directors of the World Bank (WB) held yesterday.
19 January 2006 [03:51]

Official monetary reserves forecasted to increase by 50% in 2006

The National bank of Azerbaijan (NBA) predicts official currency reserve to increase by 50% to $1.5 milliard during the current year.
19 January 2006 [03:47]

Credit to be disbursed for modernization of locomotive fleet of ASR expected to be approved in next meeting of EBRD

It is expected that a credit of $50 million the European Bank for Reconstruction and Development (EBRD) to grant to our country for upgrade of the locomotive fleet of the Azerbaijan State Railway (ASR) will be approved in a next meeting of the Board of Directors of the Bank to be held on January 27.
19 January 2006 [03:36]

Overall turnover of Baku Interbank Currency Exchange increased by 9% last year

Volume of overall turnover of the Baku Interbank Currency Exchange (BICEX) decreased by 9% in 2005 and comprised 835 million 116 thousand AZN ($885.6 million) by January 1, 2006.
19 January 2006 [03:32]

2-week pause emerged in activity of Baku Steel Company to damage steel mill in amount of $1 million

The Baku Steel Company possesses enough reserve of armature for meeting the domestic demand during the 2-week pause emerged in activity of the steel mill.
19 January 2006 [03:26]

Assets of Azerdemiryolbank increased by 73% during past year

Volume of assets of the Azerdemiryolbank Joint-Stock Bank (JSB) totaled 49 million 767.6 thousand AZN by January 1 of the current year and this is 73% more than the same indicator of the previous year.
19 January 2006 [03:07]

Regular auditors' report on Extractive Industry Transparency Initiative prepared

The AGN Mak Company completed preparation of an auditors' report on the first six months of 2005 within the framework of the Extractive Industry Transparency Initiative (EITI).
19 January 2006 [03:00]

Ernst & Young Company to audit activity in 2005 of SOCAR Marketing and Economic Operations Office

The results of activity in 2005 of the SOCAR Marketing and Economic Operations Office (MEOO) will be examined by the Ernst & Young Accounting and Consulting Company.
19 January 2006 [02:33]

Increase by 0,8% in price registered in land market

Increase by 0,8% in price was registered in the land market of Baku in December, 2005.
19 January 2006 [02:31]

Tender on major repairs of roads and reconstruction works held in Sabirabad city

The representation in Sabirabad city of the Sabirabad region Executive Power announced an open tender on major repairs of the roads and implementation of reconstruction works in the city in 2006.
18 January 2006 [17:47]

Despite worsening of weather conditions Azerenerji covers demand for energy

Despite worsening of weather conditions there is no any restriction in energy supply of Baku and Absheron Peninsula as in previous years.
18 January 2006 [15:58]

Paolo Perviz, BSC President: "Baku Steel Company still operates, and no pressure from Azeri Government"

The Company’s president Paolo Perviz made comments on his leaving Azerbaijan , and stoppage of his company’s activity.
18 January 2006 [04:45]

Heydar Babayev thinks that fares in transport most likely not to be raised this year

The Ministry of Transport has already submitted its proposals on increasing fares in transport to the Tariff Council.
18 January 2006 [04:33]

Azeronline brought action against Ministry of Economic Development

The Azeronline Joint Enterprise (JE) unsatisfied with a decision concerning the Internet providers issued in December by the Antimonopoly Policy Department of the Ministry of Economic Development brought an action against this structure in the Court of Economy.
18 January 2006 [03:49]

BakGas increased daily gas delivery to population 4 times in connection with snap of cold

Daily volume of gas delivery to population of the capital was increased to 11 million 458 thousand cubic meters in connection with snap of cold in the republic.
18 January 2006 [03:42]

Volume of capital invested in building sector increased 12,7% last year

5,4 milliard AZN were directed to the main capital from all financial sources during the past year and this is 12,7% more in comparison with the same indicator of the previous year.