Business

20 June 2009 [11:41]

Development of non-oil sector represents future of Azerbaijan despite great significance of oil factor in economy: minister

Azerbaijan foresees its future in use of oil profit to develop non-oil sector of economy despite oil factor plays big role, minister of economic development Shain Mustafayev said.
19 June 2009 [14:29]

Azerbaijan, Microsoft preparing joint program to combat piracy

Azerbaijan’s agency to protect author's rights and the representative office of Microsoft in Azerbaijan are preparing a joint program to combat piracy, said head of the agency Kamran Imanov.
19 June 2009 [10:57]

Azerbaijan says economically active population exceeds 4.324 million

As at June 1, Azerbaijan’s economically active population reached 4 324 100, of which 4 063 000 are employed, said the State Statistical Committee.
19 June 2009 [08:55]

Investments to oil sector top 27% of overall investments to Azerbaijan’s economy

In January-May of 2009 investments to country’s oil sector topped over 27% of the total investments into country’s economy, reports Novosti-Azerbaijan with reference to the State Statistical Committee.
18 June 2009 [16:05]

EBRD ready to finance Nabucco

The European Bank for Reconstruction and Development intends to finance Nabucco gas project, said manager on energy business Riccardo Puliti, according to Bloomberg.
18 June 2009 [14:42]

Some private companies hamper creation of trade unions

Transnational companies, functioning in Azerbaijan, mostly hamper the creation of trade unions, said chief of department of labor protection, chief technical inspector of labor at the Confederation of Trade Unions of Azerbaijan Vladimir Argutkin.
18 June 2009 [08:49]

Privilege mortgage loans to be lent in Azerbaijan

The Azerbaijan Mortgage Fund, functioning at the Central Bank of Azerbaijan, starts issuing privileged mortgage loans, according to the Azerbaijan Mortgage Fund, Novosti-Azerbaijan reports.
17 June 2009 [12:51]

Baku to host forum on governance of risks in commercial banks under global financial crisis

Central Bank of Azerbaijan together with Azerbaijani training center will hold the forum Governance of risks in commercial banks in terms of global financial crisis on June 20, Azerbaijani training center marketing manager Nazim Mammadli said on June 17.
17 June 2009 [10:48]

Azerbaijan's Energy Minister to visit Astana

Azerbaijan's Industry and Energy Minister Natik Aliyev will visit the capital of Kazakhstan-Astana on June 24-25, said sources in the Kazakh embassy to Azerbaijan.
17 June 2009 [08:56]

First auction on Azerbaijani Mortgage Fund's bond placing held

The placing of rated non-documentary, ensured, nominal bonds of the Azerbaijani Mortgage Fund started yesterday, according to sources in the Baku Stock Exchange.
17 June 2009 [08:49]

Azerbaijan records GDP growth at 4.4%

In January-May of this year Azerbaijan's GDP grew 4.4% over the same period of 2008 hitting AZN 11.366 bln (about USD 14.14 bln).
16 June 2009 [10:01]

BTC capacity will be increased: Azerbaijan's energy minister

The capacity of the Baku-Tbilisi-Ceyhan pipeline will be increased from current 1.2 million barrels to 1.6 million barrels per day in 2010, Azerbaijani Industry and Energy Minister Natig Aliyev said.
16 June 2009 [08:39]

$60-70/barrel is efficient price for oil in Azerbaijan: Head of SOCAR

A price of $60-70 per barrel of oil is efficient for implementation of investment programs and production of hydrocarbons in Azerbaijan, President of SOCAR Rovnag Abdullayev told journalists on June 15.
12 June 2009 [13:48]

Azerbaijan State Standardization Committee: Trade facilities sell goods of unknown origin illegally

The employees of the state committee on standardization, metrology and patents have taken samples of goods from trade establishments to reveal low quality and smuggle foodstuffs, according to the press service for this committee.
12 June 2009 [09:06]

Exhibition "Germany is a country of tourism" held in Azerbaijani city of Sheki

The German embassy to Azerbaijan in cooperation with the executive powers of Sheki opened the photo exhibition "Germany is a country of tourism".
12 June 2009 [08:29]

SOCAR , BP continue cooperation in ecology sphere

Ecology department of the State Oil Company of Azerbaijan held a presentation of the renewed complex studies lab for representatives of BP Azerbaijan.
11 June 2009 [17:32]

Azerbaijani prime minister re-elected chairman of SOFAZ supervisory board

The State Oil Fund of Azerbaijan (SOFAZ) decided to submit fund's 2008 state budget to president for confirmation at Supervisory Board's meeting, the fund said.
11 June 2009 [15:42]

Transition to digital broadcasting in Azerbaijan

Ministry of Communications and Information Technologies of Azerbaijan plans to begin broadcasting 8-10 programs through one channel in terms of a program on transition to digital television broadcasting in the country, said the Ministry.
11 June 2009 [13:48]

State Veterinary Service: Azerbaijan has not imposed ban to import dairy products from Belarus

"The State Veterinary Service at the Azerbaijan Ministry of Agriculture continues to import dairy products from Belarus", said spokesman for the State Veterinary Service at the Ministry of Agriculture Yolchu Khanveli.
11 June 2009 [12:44]

Agreement signing on Nabucco might be postponed

Signing of an intergovernmental agreement on Nabucco implementation might be postponed, said Minister of Energy and Natural Resources of Turkey Taner Yildiz.
11 June 2009 [12:24]

BP ups estimates of proved gas reserves in Azerbaijan

BP increased estimates of the proved gas reserves in Azerbaijan by 40 billion cubic meters, to 1.2 trillion cubic meters.
11 June 2009 [10:30]

Azerbaijani diplomat addresses 4th New Silk Road Conference in Chicago

The 4th New Silk Road Conference was held in Chicago, APA’s US bureau reports.
11 June 2009 [08:57]

About a ton of expired foodstuffs confiscated in Azerbaijan

The State Service for Control over the consumer market under the Ministry of Economic Development of Azerbaijan held a regular monitoring, according to the Ministry of Economic Development.
10 June 2009 [17:53]

Mortgage to be granted for purchase of secondary housing in Azerbaijan

Azerbaijani mortgage fund under the Azerbaijani Central Bank states that there is no limitations for buying both initial and secondary housing given numerous requests of population, the fund said on June 10.
10 June 2009 [11:09]

Azerbaijan interested in energy security: Deputy Foreign Minister

Azerbaijan interested in providing energy security, Deputy Foreign Minister Araz Azimov said at an "Energy security: challenges and new opportunities" workshop.
10 June 2009 [09:19]

Andris Piebalgs: SOCAR has a diversified supply portfolio

Interview Day.Az with Energy Commissioner EU Andris Piebalgs
09 June 2009 [14:57]

Automated system of railway ticket sale applied in Ganja, Azerbaijan

The automated system of railway tickets sale will be applied in Ganja on June 15, said spokesman of the Azerbaijan Railway Company Nadir Azmamedov.
09 June 2009 [13:10]

Big Russian telecommunication company considering possible purchase of stocks in Azerbaijan

Russian mobile operator MTC is considering possible purchase of assets in Azerbaijan and Kazakhstan, said chief executive of the company Mikhail Shamolin, according to the Azerbaijan Ministry of Communication and Information Technologies.
08 June 2009 [11:03]

Works to prepare feasibility study of Transcaspian project might be held later this year

Works to prepare the feasibility study of the Transcaspian project might be launched in the second half of 2009, according to the president of National company Kazmunaugaz Kayrgeldi Kabildin.
08 June 2009 [09:26]

SOCAR exports over 99.5 thousand tons of motor gasoline in January-May

In January-May of 2009 the department of marketing and economic operations of the State Oil Company of Azerbaijan exported 99.541 tons of motor gasoline, said the press service for SOCAR, according to Novosti-Azerbaijan.
08 June 2009 [09:03]

Caspian Shipping company receives Shusha tanker

The Krasnoye Sormovo shipyard in Nizhni Novgorod (Russia) has recently launched tanker of project 19619 for the Azerbaijan State Caspian Shipping Company into the sea, reports the press service for the MNP group (that includes the Krasnoye Sormovo shipyard).
06 June 2009 [10:27]

Azerbaijan-Kazakhstan cooperation predetermined for many years: ambassador

Kazakhstan and Azerbaijan are strategic partners and the co-operation between countries is predetermined for many years, Ambassador of Azerbaijan to Kazakhstan Latif Gandilov said in an interview with Trend News.
05 June 2009 [11:30]

Azerbaijan's investment opportunities represented in London

Azerbaijan's investment opportunities have been represented in London based International Centre of Financial Services.
05 June 2009 [09:40]

Azerbaijan doubts about professionalism of Transparency International's report on corruption

Chairman of the Azerbaijani Parliamentary Committee on Legal Policy and State Building Ali Huseynov doubts about professionalism of a report on corruption designed by the international organization Transparency International.
05 June 2009 [09:28]

Intergovernmental agreement on Nabucco project might be signed in coming weeks

The intergovernmental agreement on the Nabucco project might be signed in coming weeks, said project general director Reinhard Mitchek at a conference "Caspian Oil and Gas 2009" in Baku.
05 June 2009 [09:00]

SOCAR vice president says construction of 1-2 more platforms at Shah Deniz well expedient

"I think it would be expedient to construct one or two more platforms for the safe development of the Shah Deniz field, said SOCAR first vice president Khoshbakht Yusifzade.
04 June 2009 [13:41]

All neighboring countries proposed to obtain all volumes of gas from Shah Deniz II: SOCAR vice president

About 8 billion cubic meters of the 27 billion cubic meters to be produced in Azerbaijan this year will be exported, SOCAR Vice president for Investments and Marketing Elshad Nasirov said at a conference Oil&Gas 2009 in Baku.
04 June 2009 [13:14]

Deputy Minister of Communication and Information Technologies: Work is held for sharp reduction of internet tariffs in Azerbaijan

Work is held for the sharp reduction in Internet tariffs in Azerbaijan, said deputy Minister of Communication and Information Technologies Iltimas Mamedov.
04 June 2009 [12:59]

Moscow to host conference of business circles of Russia and Azerbaijan

Moscow will host a conference of the business circles of Russia and Azerbaijan, said trade representative of Russia in Azerbaijan Yuri Shedrin at a press conference Thursday, according to Novosti-Azerbaijan.
04 June 2009 [12:39]

Iranian national gas company official: We can create conditions for export of Azerbaijani gas to Turkey via Iran

"We can assist Azerbaijan in exporting gas to Turkey, said Seyid Rza Huseyni, director on planning of the national gas company of Iran, attending the Baku-hosted international exhibition.
04 June 2009 [11:44]

1421 foreigners get permission to work in Azerbaijan this year

1421 foreigners got individual permission to work in Azerbaijan in January-May of 2009, said chief of department of migration at Azerbaijan's Ministry of Labor and Social Protection Rauf Taghiyev.
03 June 2009 [17:29]

Representatives of Egyptian delegation familiarize with Azerbaijan's tourism potential

Officials of the Egypt Ministry of Tourism, tourism firms and media representatives familiarized with the tourism potential of Azerbaijan under steering support of the Ministry of Culture and Tourism as well as the Azerbaijani embassy to Egypt, reports Day.Az with reference to the Ministry of Culture and Tourism.
03 June 2009 [17:06]

Nabucco is an immature project yet: Minister

Azerbaijan is currently holding negotiations regarding routes of gas to be produced from Shah Deniz field in several directions, according to Minister of Industry and Energy of Azerbaijan Natig Aliyev.
03 June 2009 [16:24]

Nearly 150 million tons of oil and 34 billion cubic meters of gas were produced in Azerbaijan in 1997-2008: SOCAR president

Azerbaijan plans to produce about 50 million tons of oil in 2009 compared to 44.5 million tons in 2008, SOCAR President Rovnag Abdullayev said.
03 June 2009 [16:12]

Azerbaijan has potential to export 30bln cu.m of gas within 30 years: president of StatoilHyidro Azerbaijan

Azerbaijan has potential to export 30 billion cubic meters of gas per year within 30 years as part of the South Energy Corridor, i.e. new direction of fuel deliveries, President of StatoilHyidro Azerbaijan Christian Hausken said on June 3.
03 June 2009 [13:41]

IAEA to hold next discussions on project to construct nuclear reactor in Azerbaijan

The International Atomic Energy Agency (IAEA) will start negotiating on construction of a nuclear reactor in Baku.
03 June 2009 [13:29]

Azerbaijan studies Hungary’s e-auction system experience

The delegation of the Ministry of Taxes of Azerbaijan has conducted exchange of experience with the Administration of Tax & Financial Control of Hungary.
03 June 2009 [11:22]

SOCAR to build own filling stations in Azerbaijan

The State Oil Company of the Azerbaijan Republic (SOCAR) will build own filling stations in the country, SOCAR high ranking official said on June 3.
03 June 2009 [10:50]

Azerbaijan not to change tariff on pumping oil via Baku-Novorossiysk pipeline: minister

Azerbaijan will not change tariff on pumping the Azerbaijani oil via the Baku-Novorossiysk pipeline, how it was earlier offered by Russia, Azerbaijani Industry and Energy Minister Natiq Aliyev said at the "Oil&Gas 2009" conference on June 3.
03 June 2009 [10:44]

Industry and Energy Minister: By 2015-2020-Azerbaijan will produce 40 bln cu m of gas, while maximal oil production will hit 65 mln tons

By 2015-2020-Azerbaijan will produce 40 bln cu m of gas, while maximal oil production will hit 65 mln tons, Minister of Industry and Energy of Azerbaijan Natik Aliyev.
03 June 2009 [09:17]

Azerbaijan to invite Iran to negotiations on Caspian status: deputy minister

Azerbaijan intends to invite Iran to the negotiations on determining the legal status of the Caspian.
03 June 2009 [09:05]

Contract of the Century partners offer to prolong agreement with Azerbaijan

Foreign oil firms involved in the Azeri-Chirag-Gunashli (ACG) Project in the Azerbaijan sector of the Caspian Sea in accordance with the so-called Contract of the Century offer to prolong the 30-year agreement signed in 1994, said Shahmar Movsumov, Executive Director of the State Oil Fund of Azerbaijan (SOFAZ).
03 June 2009 [09:03]

Prospects for economic and banking cooperation of Azerbaijan and Great Britain discussed

Chairman of the Board of the Central Bank of Azerbaijan Elman Rustamov and the United Kingdom Prince Andrew, Duke of York discussed economic cooperation between the two countries, the Central Bank said on June 2.
03 June 2009 [09:00]

Azerbaijan's oil production to reach 45 million tons, gas production to 25-27 billion cubic meters in 2009: President Aliyev

Azerbaijan's oil production will total around 45 million tons and gas production 27 billion cubic meters, Azerbaijani President Ilham Aliyev stated in his opening remarks to the annual 16th International Caspian Oil and Gas Exhibition, Incorporating Refining and Petrochemicals on June 2.
02 June 2009 [16:26]

Baku Stock Exchange decides to release Mortgage Fund's bonds of commission payments

Baku Stock Exchange Management Board has decided to unilaterally release secured bonds of the Azerbaijan Mortgage Fund from commissions at its session on June 1.
02 June 2009 [16:11]

Baku Stock Exchange starts transition to a new trading system

Baku Stock Exchange starts two-week trainings for the representatives of brokerage firms on transition to the new trading system. Today the specialists of BSE Trading Department made presentation about new trading system and held practical workshop in trading hall.
02 June 2009 [15:56]

Azerbaijani delegation participates at session of Ministers of Railway Cooperation Organization

Astana hosts the 35th Session of the meeting of Ministers of the Organization of Railways Cooperation, according to the press service for the Azerbaijan State Railway Company.
02 June 2009 [13:27]

Baku Airlines' decision to stop night flights not to affect ticket costs: AZAL

The decision to stop night flights at the Heydar Aliyev International Airport will not affect ticket costs, head of the state concern AZAL Jahangir Askerov told journalists.
02 June 2009 [11:05]

Nabucco gas pipeline to play great role in European energy security: Georgian prime minister

Nabucco gas pipeline project will play a great role in the European energy security, Georgian Prime Minister Nika Gilauri said.
02 June 2009 [10:56]

Azerbaijan is becoming a strong energy leader in region: U.S. special envoy

Azerbaijan is becoming a strong energy leader in the region and can contribute to European energy security, U.S. Special Envoy for Eurasian Energy Richard Morningstar said at opening ceremony of the annual 16th International Caspian Oil and Gas Exhibition, Incorporating Refining and Petrochemicals on June 2.
02 June 2009 [10:46]

Barack Obama: Azerbaijan will find a strong friend and partner in the United States

Find below the letter of US President Barack Obama read out by US special envoy on Eurasian energy Richard Morningstar Tuesday at the opening ceremony of the Sixteenth International Caspian Oil and Gas Exhibition and Conference in Baku:
02 June 2009 [10:15]

Baku-Nakhchivan-Istanbul flight suspended

Baku-Nakhchivan-Istanbul-Baku flight operated by Azerbaijan Airlines has been suspended. Nakhchivan International Airport told APA’s local bureau that few number of passengers caused this.
02 June 2009 [08:50]

Barack Obama sends message to Azerbaijani President - UPDATED

Azerbaijani President Ilham Aliyev has met a delegation under the leadership of Special US Envoy on Energy Issues in Eurasia Richard Morningstar, Azertag state information agency reported.
02 June 2009 [08:48]

Richard Morningstar: The United States supports all projects envisaging delivery of the hydrocarbon resources of the Caspian to the world markets

U.S. Special Envoy for Eurasian Energy Richard Morningstar met with the members of the US-Azerbaijan Chamber of Commerce in Baku, APA reports.
02 June 2009 [08:44]

USA stands ready to assist Azerbaijan in delivering hydrocarbons: U.S. special envoy

The involvement of the United States in energy issues is important not only for the energy security of America, but also for the energy security of each country, said the U.S. Special Envoy for Eurasian Energy Richard Morningstar, who is on visit to Baku.
01 June 2009 [16:39]

SOCAR stands ready to involve foreign participant to Azerbaijan's major gas project

The State Oil Company of the Azerbaijan Republic (SOCAR) informed the French Total, which is the operator of the Absheron project, about its agreement to involve the Gaz de France SUEZ (GDF/SUEZ) company to the joint exploration of the largest gas field.
01 June 2009 [16:34]

New oil contract signed in Azerbaijan

The State Oil Company of the Azerbaijan Republic (SOCAR) and Dubai DB Petroleum signed a PSA contract on rehabilitation and exploration of the Buzovna-Mashtaga field in Baku, SOCAR reported on June 1.