Business

27 August 2009 [14:44]

Azerbaijani Taxes Ministry puts forward requirements to country’s religious communities

“Taxes agencies do not demand religious figures to pay taxes,” Azerbaijani Taxes Ministry Spokesperson Fariz Samadov said commenting on media reports about demands towards religious figures (mullahs) to pay taxes.
27 August 2009 [14:14]

Azerbaijan leaves over 50 countries behind on index of involvement in international trade

Azerbaijan holds 70th place out of 121 possible places in rating of the World Economic Forum (WEF) reflecting easiness of goods transport across the border.
27 August 2009 [13:55]

Korea interested in supplying construction equipment to Azerbaijani market

The Azerbaijan-Korea business forum on ‘Export of Korean Construction Equipment’ held in Baku on Aug. 27 focused on supplying Korean construction equipment to Azerbaijani market.
27 August 2009 [13:19]

SOCAR launches headquarters to mark 15th anniversary of 'Contract of Century'

Azerbaijan State Oil Company (SOCAR) has launched an headquarters led by company’s president Rovnag Abdullayev to mark 15th anniversary of the ‘Contract of Century’ signed on development of Azeri-Chiraq-Gunashli fields in a solemn manner, SOCAR Vice President Khaliq Mammadov said.
27 August 2009 [11:56]

U.S. special envoy to mull energy issues in Baku

U.S. Special Envoy for Eurasian Energy Richard Morningstar will debate the U.S. support for Azerbaijan in terms of development of diversified routes for oil and gas supply from the region to European and global markets in Baku on Aug. 27, the U.S. Embassy in Azerbaijan said.
27 August 2009 [11:12]

Azerbaijan's role in supplying hydrocarbons is one of most important: U.S. diplomat

Azerbaijan's role in providing alternative energy supply routes from the Caspian Sea to world markets is one of the most fundamental and important, U.S. Special Envoy for Eurasian Energy Richard Morningstar said in Astana.
27 August 2009 [09:11]

Israeli to buy Azerbaijani gas only after infrastructure is in place

"There is a need to build infrastructure in Israel," Israeli ambassador to Azerbaijan Michael Lavon Lotem said commenting on Israel's possible gas purchases from Azerbaijan.
26 August 2009 [17:31]

U.S considers Nabucco agreement important step towards its realization: U.S Department of State special envoy

The U.S. commends intergovernmental agreement signed on the Nabucco project, U.S Special Envoy for Eurasian Energy Richard Morningstar said.
26 August 2009 [16:08]

U.S. interested in Caspian littoral states’ energy summit

Kazakh prime minister Karim Masimov had a meeting with U.S. Department of State Special Envoy Richard Morningstar on Aug. 26, KazTag news agency reported.
26 August 2009 [12:53]

Nabucco is non-starter without Azerbaijan: 'The Foreign Policy'

Director of international programs at the Center for Law and Security in Washington Daniel Freifeld believes that Nabucco project is doomed to failure without Azerbaijan and its large reserves of natural gas.
26 August 2009 [12:21]

Armenian economist predicts economic decline of 12-14 percent

Decline in Armenia’s economy will be 12-14 percent in 2009, head of ‘Economy and Values’ studies center and partner manager of EV Consulting Manuk Hergnyan said.
26 August 2009 [11:38]

Baku to host first ISO S. Caucasus seminar

International Standardization Organization will hold its first South Caucasus seminar in Baku on October 21 to 23, Azerbaijan State Committee for Standardization, Metrology and Patent said.
26 August 2009 [11:29]

Unstable weather conditions affect Azerbaijan’s grain harvest

The recent unstable weather conditions have affected Azerbaijan’s grain harvest, Azerbaijani Agriculture Ministry official Sabir Valiyev said.
26 August 2009 [09:39]

Armenian government's expendatures exceed revenues

In the first half of this year, Armenia's budget revenues totaled 359bln AMD, and on-budget expenditures 426.5bln AMD, thereby ensuring the respective 67.1% and 70.3% of Armenia's government-specified 10-month program.
25 August 2009 [16:58]

China becomes world's largest exporter

China’s exports narrowly edged ahead of those from Germany in the first six months of the year, new figures showed on Monday, in a fresh sign that the latter’s status as the world’s leading exporter is at risk, 'Financial Times' reported.
25 August 2009 [15:51]

Western analysts made forecasts on eurozone economy for 2009

The economies of several countries, especially the EU giants - Germany and France - have demonstrated considerable growth in the second quarter.
25 August 2009 [14:01]

Azerbaijan to face no problems in operating flights to Europe

Azerbaijani airlines will face no problems while operating flights to Europe, a government source said on August 25. Earlier, The European Union released a list of airlines that it recommended to monitor emissions.
25 August 2009 [13:48]

Turkish diaspora prevents U.S. Congress from adopting resolution on Armenian genocide

The political organization of Washington DC and U.S.-based Turkish Diaspora organizations are not accepting seriously the Armenian initiatives to put "Armenian genocide" on agenda of the U.S. Congress and that of the local human rights organizations, one of leaders of the Turkish Diaspora in California Karahan Mete said.
25 August 2009 [12:31]

Prices on construction materials drop in Baku

The average price of construction materials on the Baku market decreased 2.7 percent in July, the public organization Participants of Estate Market said.
25 August 2009 [11:49]

Azerbaijan transits roughly 3.5mln tons of cargo in Jan-Jul

In January-July Azerbaijani transport means transported 23.33 million tons of cargo with a 66.78-percent decrease from the same period of 2008, Azerbaijani State Statistics Committee said.
25 August 2009 [10:18]

UK economic recession at an end

Britain is likely to move out of recession and post growth of 0.5 percent this quarter, a business survey by the Institute of Chartered Accountants in England and Wales (ICAEW) showed on Sunday, Reuters reported.
24 August 2009 [17:35]

Cost of most expensive land plot in Baku disclosed

Public Union Participants of Estate Market has released the results of the monitoring into situation in the market of land plots in the capital in July 2009.
24 August 2009 [14:14]

Nabucco not to have filling up problems: ex-advisor to U.S secretary of state

The ex-Advisor to the U.S Secretary of State on political affairs Marc Grossman says the Nabucco pipeline project which will transport gas from the Caspian region and the Middle East to the EU will not face filling up difficulties.
24 August 2009 [13:39]

Next meeting of TRACECA intergovernmental commission due in Brussels

A meeting of the TRACECA intergovernmental commission will take place September 23 in Brussels.
24 August 2009 [12:39]

Azerbaijan discloses its major foreign trade partners

The Azerbaijani State Customs Committee has released national trade figures for January-July 2009. Azerbaijan engages in trade operations with 126 countries, the committee reported.
24 August 2009 [11:51]

Azerbaijan Mortgage Fund expands list of partners

The Azerbaijani Mortgage Fund (AMF) under the Central Bank has expanded the list of authorized banks, insurance and appraisal companies, the fund said.
22 August 2009 [08:21]

Oil prices hit $74 per barrel over last 10 months

The price of oil has hit its highest level of the year, boosted by sharp rises in Chinese stocks and rising shares on Wall Street, BBC reported.
21 August 2009 [15:58]

Azerbaijan Investment Company prepared to help entrepreneurs to implement projects to develop country’s regions

Azerbaijan Investment Company (AIC) is prepared to help entrepreneurs to implement projects to develop country’s regions, AIC executive director Afgan Isayev said at a conference “State Support for Entrepreneurship".
21 August 2009 [11:33]

Nabucco pipeline assumes strategic significance for Turkey: ambassador

Turkish ambassador to Kazakhstan Atilla Gunay spoke in an exclusive interview with Trend Capital.
21 August 2009 [08:53]

Turkey makes new proposal to Azerbaijani government

Turkish Minister of Energy and Natural Resources Taner Yildiz said Turkey have made a new proposal to Baku in terms of purchase of natural gas, Anadolu news agency reported.
20 August 2009 [17:51]

Armenia’s GDP declines

Armenia’s GDP declined 18.5 percent in January-July 2009, according to the national statistic service.
20 August 2009 [17:33]

Turkmenistan signs a deal to supply gas to Iran

Iran and Turkmenistan have signed an agreement regulating prices and schedule of gas supply from Turkmenistan to Iran, CA-News reported with reference to “The Globalist."
20 August 2009 [15:42]

Baku to host Azerbaijani int'l Education & Career Exhibition

One of the features of the global financial and economic crisis is the growth of investment on the part of individuals in their own education and improvement. With fewer jobs available, potential employees need to invest in their education in order to be employable.
20 August 2009 [14:16]

The ICT sector is one of most attractive sectors for employment in Azerbaijan

Sector of information and communication technology (ICT) is one of the most attractive sectors for employment in Azerbaijan, ICT Information Center Director Farid Kazimov said.
20 August 2009 [13:19]

Iranian businessmen debate cooperation with Azerbaijan

Entrepreneurs from Iran and Azerbaijan discussed possibility of enhancing mutual cooperation in the round table held in Baku, Azerbaijan Economic Development Ministry said.
20 August 2009 [11:31]

Azerbaijan releases about 6 million young sturgeon into sea

Azerbaijan’s fish factories released 5.8 million young sturgeon into the sea in the first half of 2009, Azerbaijan State Statistics Committee said.
20 August 2009 [11:19]

Kazakhstan voices its stance on Kazakh Caspian oil transport system

Negotiations on the Kazakh Caspian oil transport system (KCOTS) project entered an active phase at the end of July, Kazakh Energy and Mineral Resources Minister Sauat Mynbayev said.
20 August 2009 [10:26]

Azerbaijani communications ministry plans to issue 3G licenses to mobile operators

The Azerbaijani Communications and Information Technologies Ministry forecasts to license mobile operators to set up third generation communications (3G) at the end of September, the ministry said.
20 August 2009 [09:52]

Italy voices support for Nabucco pipeline

Italy is not opposed to the Nabucco gas pipeline project, country’s foreign minister told a newspaper.
19 August 2009 [16:35]

Armenia to face economic recession

The Armenian government forecasts economic decline of 12-15 percent.
19 August 2009 [12:24]

Azerbaijani oil field third in CERA ranking of world's 20 largest oil fields

Azerbaijan's Azeri-Chirag-Guneshli field took third place in a ranking of the world's 20 largest oil fields set up by the American Consulting Association CERA (Cambridge Energy Research Associates).
19 August 2009 [11:42]

Azerbaijani population ups foodstuff expenditures

Azerbaijani population purchased food and non-food products worth 6 billion manat in January-July 2009, a rise of 8.5 percent from last year, Azerbaijan State Statistics Committee said.
19 August 2009 [09:37]

EU to establish single tax structure

European Union officials Tuesday called on member states to share information about their taxpayers to help combat value added tax (VAT) fraud, which costs governments billions of euros in lost revenues each year.
18 August 2009 [16:58]

BP releases report on H1 of 2009

BP, operator of Azeri-Chirag-Guneshli fields of Azerbaijan, produced about 146 million barrels (about 20 million tonnes) of oil in the first half of 2009, according to company's report on H1 of 2009.
18 August 2009 [12:04]

Rise in Azerbaijan’s agricultural production

Azerbaijan’s agricultural production totaled 2 billion manat in January-July 2009, a rise of 6.6 percent from the same period of 2008, State Statistics Committee said.
18 August 2009 [11:51]

American professor predicts when world economy will see full recovery

Professor at the U.S. World Marketing company Gene Aldridge says the global economy can overcome the recession at least in 5 years.
18 August 2009 [09:12]

Armenia is one of CIS leading countries for GDP slump

According to CIS Statistics Committee estimates, the greatest GDP slump is recorded in Ukraine-20.3% and Armenia-16.3% compared to H1 2008. Russia is rated third (13.4%) among CIS countries for GDP slump and consumer price growth.
18 August 2009 [08:44]

Azerbaijan approves state program on establishment of space industry

On August 17, the President of Azerbaijan Ilham Aliyev signed an an order endorsing the state program on establishment and development of space industry in Azerbaijan.
17 August 2009 [17:06]

Israeli organization realizes humanitarian project in Azerbaijan

Presentation of the Guba Center of the Azerbaijani Red Crescent Society was held in Baku, on Aug.17 after major overhaul with the financial and technical assistance from the Israeli organization Magen David Adom.
17 August 2009 [16:48]

Kiev-Ganja regular flights opened

Donbassaero airway company launched regular Kiev-Ganja flights between Ukraine and Azerbaijan on August 18, the company said.
17 August 2009 [16:36]

Stars of some Azerbaijan-based hotels to be withdrawn

The stars of some Azerbaijan-based hotels will be withdrawn in September this year, Culture and Tourism Minister Abulfas Garayev said.
17 August 2009 [14:26]

Rise in Azerbaijan's GDP

In January-July 2009, Azerbaijani GDP increased 2.7 percent compared to 2008, the State Statistics Committee said.
17 August 2009 [14:17]

Kazakh oil delivery through BTC increases

The Baku-Tbilisi-Ceyhan (BTC) oil pipeline transported 1 million tons of the Kazakh Tengiz oil in January to July compared to 907,700 tons in January to June, the Azerbaijani state statistics committee said.
17 August 2009 [11:59]

Rise in Azerbaijan’s communication, mail revenues

Azerbaijan’s communication and mail agencies rendered services worth 560 million manat in January-July 2009, a rise of 12.7 percent from 2008, the State Statistics Committee said.
17 August 2009 [11:12]

SOCAR paid 500 million manat in taxes in 2009

The tax payments of the State Oil Company of Azerbaijan Republic (SOCAR) totalled 496 million manat in January-July 2009, the SOCAR official Web site said.
15 August 2009 [10:03]

Rise in Armenia’s unemployment rate

14 August 2009 [12:59]

Turkmenistan doubles gas exports to Iran

Turkmenistan will launch a new pipeline to Iran in December to diversify its gas exports, reports say.
14 August 2009 [09:10]

Fitch lowers Armenia's ratings

According to Fitch Rating forecast, GDP decline in Armenia will make 15 percent by late 2009.
13 August 2009 [15:19]

American expert: no energy project can bypass Azerbaijan

Nabucco gas pipeline project, which is likely to involve Turkmenistan as well, will be a significant contribution to development of West-East energy corridor, American expert from The Tool Shed Group analytical center Jameson Katz said.
13 August 2009 [14:56]

Russia, Turkey may build oil refinery

Russian and Turkish authorities have agreed to study possibility of building a refinery and to organize joint marketing of oil products, according to the intergovernmental protocol signed during the recent visit of Russian delegation to Ankara.
13 August 2009 [14:14]

Waste processing center to be opened in Azerbaijan

The State Oil Company of Azerbaijan (SOCAR) and the U.S. Trade and Development Agency (USTDA) signed a $572,068 grant agreement on Aug.13.
13 August 2009 [12:18]

SOCAR to finance construction of Igdyr-Nakhchivan gas pipeline

The State Oil Company of the Azerbaijani Republic (SOCAR) will cover all expenses for construction of the Igdyr-Nakhchivan pipeline to be laid from Turkey to Azerbaijan under the relevant memorandum signed earlier, head of SOCAR Rovnag Abdullayev said.
13 August 2009 [11:29]

Belarus architects trip to Baku

Delegation of the Belarus Ministry of Construction and Architecture has paid a two-day visit to Azerbaijan, Belarus embassy in Azerbaijan said.
13 August 2009 [09:54]

More than 20 million tons of Azerbaijani oil transported via BTC over 7 months

More than 20 million tons of Azerbaijani oil was exported via the Baku-Tbilisi-Ceyhan oil pipeline in January-July 2009, Azerbaijan State Oil Company said.
12 August 2009 [17:39]

No need to expect further decline in U.S. economy: George Soros

The U.S. economy has hit bottom and the current quarter will see positive growth due to the government's stimulus spending, billionaire financier George Soros said on Tuesday.
12 August 2009 [16:50]

Azerbaijan's largest chemical producer not affected by crisis

Azerbaijan’s Azerkimiya state-owned chemicals maker was not affected by the world financial crisis, the company in a statement.
12 August 2009 [15:16]

Azerbaijan expects record grain harvest this year

Azerbaijan will see record grain this year, Azerbaijani minister of agriculture Ismat Abbasov said.
12 August 2009 [14:17]

Azerbaijani communication minister meets Latvian counterpart

Azerbaijani communication minister Ali Abbasov met with Latvian counterpart Kaspars Gerhards in the Azerbaijani Communication and Information Technology Ministry today.
12 August 2009 [12:52]

Internet tariffs to reduce in Azerbaijan

Currently, rate of internet tariffs in Azerbaijan is the same with that of the Eastern Europe, Azerbaijani communication minister Ali Abbasov told reporters.
12 August 2009 [12:12]

Unstable weather not to affect Azerbaijan's crop capacity: minister

Unstable weather in Azerbaijan will not affect country's crop capacity, Azerbaijani agriculture minister Ismat Abbasov said.
12 August 2009 [12:05]

Azerbaijan's communication ministry discloses cost of launch of country 's first communication satellite

Cost of Azerbaijan's first communication satellite Azerspace totals 163 million manat, Azerbaijan's communications minister Ali Abbasov said.