Business

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.
12 August 2009 [11:39]

Extra Baku-Moscow flight opens

Ural Airlines launched the third Baku-Moscow-Baku flight in mid-August.
12 August 2009 [09:58]

Bryza’s possible appointment to Baku reflects not only Azerbaijan’s strategic significance: Armenian expert

Although the U.S. President Barack Obama has not yet formally nominated Assistant Secretary of State Matthew Bryza as the new U.S. ambassador to Azerbaijan, it is assumed that the nomination will proceed shortly, American political expert Richard Giragosian said.
12 August 2009 [09:23]

Georgian minister: Delay in Baku-Tbilisi-Kars project is of technical nature

The delay in construction of Baku-Tbilisi-Kars railway is of purely technical nature, Georgian Minister of Economic Development Lasha Zhvania said.
11 August 2009 [16:49]

Latvian president visits Sangachal oil terminal in Azerbaijan

Visiting President of Latvia Valdis Zatlers has today visited the Sangachal oil terminal.
11 August 2009 [13:14]

Azerbaijan-Latvia business forum underway in Baku

The Azerbaijan-Latvia business forum has commenced in Baku.
11 August 2009 [12:22]

Turkey expects Russia to reduce cost of gas

Turkey seeks extra concession from Russia in terms of gas prices, newspaper “Kommersant” reported.
10 August 2009 [13:57]

Latvian president's visit to Azerbaijan to deepen tourism relations

The Latvian President Valdis Zatlers' visit to Azerbaijan that began today will deepen tourism relations between Azerbaijan and Latvia, member of Latvian Trade and Industry Chamber's board Jurgis Abele said in Baku at a round table on tourism held as a part of the Azerbaijan-Latvia business forum.
10 August 2009 [12:55]

Azerbaijan's Nakhchivan Autonomous Republic draws in Latvian investments

More than $1 billion was invested in the Nakhchivan Autonomous Republic of Azerbaijan (NAR over the last five years, NAR Economic Development Minister Famil Seyidov said at the Azerbaijan-Latvia forum on investment opportunities of the NAR in Baku.
10 August 2009 [09:51]

Nakhchivan to increase electricity supply to Turkey

Azerbaijan’s Nakhchivan Autonomous Republic will increase volume of electricity supply to Turkey, Nakhchivan AR Supreme Assembly Chairman Vasif Talibov said at a meeting with Turkish Energy Minister Taner Yildiz.
10 August 2009 [09:18]

Licenses of 12 construction firms canceled in Azerbaijan

Azerbaijan’s Town Building and Architecture Committee at the Economic Development Ministry has conducted a monitoring into companies’ complying with terms and requirements of a license, the committee said.
10 August 2009 [08:49]

Azerbaijan's tourism ministry intrduces lits of not recommended hotels

Azerbaijani Culture and Tourism Ministry has released list of not recommended hotels for local and foreign tourists as well as tourism agencies.
08 August 2009 [11:09]

Turkey seeks to ensure itself against possible non-realization of Nabucco pipeline: expert

The agreement reached between Turkey and Russia on South Stream pipeline project shows that Turkey is trying to ensure itself against non-realization Nabucco gas pipeline project, Professor of International Relations of Turkish Ishik University Bulent Aras said.
08 August 2009 [10:16]

Turkey’s energy minister to trip to Nakhchivan

Turkey’s energy and natural resources minister Taner Yildiz will pay an official visit to the Nakhchivan Autonomous Republic on August 8.
08 August 2009 [09:26]

Ganja-Kiev flight to be launched

Kiev-Ganja-Kiev flight will be launched to boost tourist flow from Ukraine to Azerbaijan.
08 August 2009 [08:47]

Erdogan: Turkey considers Nabucco to be parallel to South Stream

Turkey considers Nabucco and South Stream to be parallel rather than alternatives to each other, Turkish Prime Minister Recep Tayyip Erdogan said.
07 August 2009 [17:44]

Azerbaijan may join Blue Stream: MP

“Azerbaijan may join Blue Stream gas pipeline in future,” parliament’s economic policy committee chair Vahid Ahmadov said.
07 August 2009 [17:25]

Oil of third countries not required to ensure profitability of Baku-Ceyhan pipeline: economic expert

“Russia’s readiness to support Samsun-Ceyhan oil pipeline project will not impact Baku-Ceyhan pipeline,” economic expert Vagif Sharifov said commenting on Russia’s readiness to support Samsun-Ceyhan oil pipeline project.
07 August 2009 [17:11]

Tbilisi says it faces some problems in construction of BTK Georgian section

There are some problems related to construction of Georgian section of the Baku-Tbilisi-Kars, Georgian ambassador to Azerbaijan Nikolaz Natbiladze said.
07 August 2009 [15:03]

Conference on Internet and media projects to be held in Azerbaijan

Barcamp Azerbaijan 2009 Informal Conference will take place in Ganja on August 14-16, Azerbaijani Ministry of Communications and Information Technologies said.
07 August 2009 [12:18]

U.S not views South Stream project as competitor to Nabucco: U.S. special envy for energy

The United States do not view the South Stream project as a competitor project to Nabucco, U.S Special Envy for energy Richard Morningstar said.
07 August 2009 [09:06]

Russian PM negotiates energy cooperation in Turkey

Russia on Thursday secured Turkish support for a pipeline project that challenges European efforts to reduce energy dependence on Moscow, but predicted that Europe would ultimately benefit from the deal.
06 August 2009 [17:57]

Azerbaijani president receives BP executive director

President of Azerbaijan Ilham Aliyev has today received BP Chief Executive for Exploration and Development Andy Inglis and his accompanying delegation.
06 August 2009 [16:06]

OPEC to maintain current level of oil output

At a September meeting OPEC will decide to maintain current level of oil output, Kuwaiti Oil Minister Ahmad Abdullah as-Sabah said.
06 August 2009 [15:46]

Baku to host Azerbaijan-Germany business forum

Azerbaijan-Germany business forum will be held in Baku on August 12, Germany-Azerbaijan Economic Assistance Union said.
06 August 2009 [13:20]

ADB energy mission arrives in Baku

The Asian Development Bank energy mission arrived in Baku on August 5, the ADB Baku office said.
06 August 2009 [12:47]

New president of BP Azerbaijan appointed

BP, as the operator of the Azeri-Chirag-Gunashli fields, Shah Deniz, Baku-Tbilisi-Ceyhan (BTC) and South Caucasus Pipeline (SCP) projects, has today announced the appointment of Rashid Javanshir as president of BP Azerbaijan who will take up office from September 1, 2009, the company said in a statement.
06 August 2009 [12:19]

Italian PM to attend discussions on South Stream in Turkey

The fate of one of the largest joint projects between Russia and Turkey in the energy sector will be decided today during working visit by Russian Prime Minister Vladimir Putin to Turkey.
06 August 2009 [10:28]

Azerbaijani parliament designs Town-planning Code

Azerbaijan’s parliament will discuss draft Town-planning Code at the autumn session, parliament’s economic policy committee chair Ziyad Samadzade said.
06 August 2009 [08:56]

About 280 state-owned enterprises, small facilities privatized in Azerbaijan

About 280 state-owned enterprises and small facilities were privatized in Azerbaijan in January-July, said the State Committee on Property Issues.
05 August 2009 [13:42]

Azerbaijan will fully meet grain demand this year: agriculture ministry official

Islam Ibrahimov, head of Azerbaijani Agriculture Ministry Department for Rural Areas and Entrepreneurship, spoke in an interview with Day.Az.
05 August 2009 [11:55]

U.S government works with Azerbaijan over Nabucco project: U.S Assistant Secretary

U.S government is working with Azerbaijan to realize Nabucco gas pipeline project, Assistant Secretary for European and Eurasian Affairs Philip H. Gordon said in Senate Foreign Relations Committee Hearing on "Georgia: One Year After the August War" on August 4.
04 August 2009 [14:21]

Israeli ambassador commented on possible closure of Baku-Tel-Aviv air flights

“My task is to improve the relations between Israel and Azerbaijan, increase trade turnover and strengthen partnership,” new ambassador of Israel to Azerbaijan Michael Lavon-Lotem told IzRus portal.
04 August 2009 [11:32]

Azerbaijani parliament designs new construction bill

Azerbaijani parliament is designing a new construction bill.
03 August 2009 [15:43]

Both Azerbaijani swine-flu infected individuals leave hospital (UPDATE)

The second person infected with A/H1N1 virus (swine flu) in Azerbaijan has been discharged today, chief of Health Ministry’s medical aid department Soltan Aliyev said.
03 August 2009 [14:17]

Oil prices hover over $70

Crude oil traded above $70 a barrel for the first time in a month on speculation fuel demand will increase, as equities in Asia gained for a third day amid signs the global economy is recovering, Bloomberg reported.
03 August 2009 [13:37]

Despite certain delay, Kars-Baku-Akhalkalaki railway project will complete by 2012

Despite certain delays, Kars- Baku-Akhalkalaki railway which will connect Asia with Europe will end by 2012, Mardabi-Kartsakhi Railway director Bidzina Bregadze said.
03 August 2009 [11:59]

Azerbaijani Social Protection Fund's revenues up 20 percent in a year

Revenues of the Azerbaijani State Social Protection Fund reached 759 million manat over the first six months of 2009, a rise of 19 percent from similar period of 2008, the fund said.
03 August 2009 [11:45]

Azerbaijan seeks WTO membership while preserving production market: MP

Azerbaijan is designing a working plan in an effort to be admitted to the World Trade Organization, Azerbaijani member of parliament Vahid Ahmadov said.
01 August 2009 [11:48]

Armenia's foreign trade turnover fell by almost a third

Armenia's foreign trade turnover decreased by 31.5 percent in January-June 2009 from the same period of 2008 and reached $1.65 billion.
01 August 2009 [10:55]

World oil prices rebound after two days of fall

World oil prices regained active growth on July 30 after two day fall, AFP reported.
01 August 2009 [09:06]

Rise in gasoline prices in Armenia

Gasoline prices in Armenia rose 2.9 percent in July 2009 compared to the June figures, according to the national statistics agency.
31 July 2009 [14:54]

Armenian economist: Armenia not to avoid two-digit recession

“Armenia will see two-digit indicator of economic recession at an annualized pace,” adviser to speaker of Armenia’s National Assembly and economist Tatul Manaseryan said.
30 July 2009 [17:34]

World passenger traffic falls hit by swine flu

International air passenger traffic fell by 7.2 percent in June over 12 months, with the swine flu pandemic adding a blow to an airline industry already depressed by the economic crisis, IATA said on Thursday.
30 July 2009 [14:34]

Turkey, Georgia sign agreement to build electricity transmission line

Turkish Energy and Natural Resources Minister Taner Yildiz and Georgian Energy Minister Alexander Khetaguri have signed an agreement on building 1,000-megawatt “Borchka-Meskhetian” electricity transmission line between the two countries.
30 July 2009 [12:11]

SOCAR plans to up Azerbaijan’s proven gas reserves up to 5 trillion cubic meters

Azerbaijan State Oil Company (SOCAR) plans to increase country’s proven gas reserves up to 5 trillion cubic meters.
30 July 2009 [11:37]

SOCAR launches new oil well

Azeri Drilling Company has put into operation a new high debit well for State Oil Company of Azerbaijan (SOCAR).
30 July 2009 [11:19]

President Obama says recession almost ended in U.S.

U.S. President Barack Obama said on Wednesday the United States may be seeing the "beginning of the end of the recession" as he launched a sweeping defense of his efforts to stimulate the economy.
30 July 2009 [11:04]

Azerbaijani parliament to adopt Competition Code at third reading

Azerbaijani parliament will adopt Competition Code at third reading during the autumn session, economic policy committee chair Ziyad Samadzade said.
29 July 2009 [13:38]

False cements sold in Azerbaijani market

The monitoring by the Union of Free Consumers of Azerbaijan has revealed sale of false cements on the markets of the central, southern and western areas of Azerbaijan, UFC chairman Eyyub Huseynov said.
29 July 2009 [11:58]

World Bank issues loan to overhaul highways in Azerbaijan

Azerbaijan's Transport Ministry and World Bank have signed an agreement on a second additional financing and loan agreement as a part of the second highway project in Azerbaijan, the Ministry said.
29 July 2009 [11:06]

Russia looks forward rise in Azerbaijani exports: economic development minister

Russian Economic Development Minister Elvira Nabiullina spoke with Trend Capital in an exclusive interview.
28 July 2009 [16:19]

Azerbaijan’s budget surplus makes up 31 percent of GDP

Azerbaijan’s budget surplus totaled 424 million manat or 2.97 percent of GDP in the first half of 2009, the Finance Ministry said.
28 July 2009 [14:37]

Azerbaijan’s communication ministry discloses possible date of launch of own satellite

The results of the tender opened to select a company to create Azerbaijan’s first national communication satellite will be summed up next week, Azerbaijani communication minister Ali Abbasov said.
28 July 2009 [12:46]

Turkmenistan plans to export gas to United Kingdom

Turkmen President Gurbanguly Berdimuhammed has stated that Ashgabat is interested in supplying gas to the United Kingdom.