Business

17 February 2009 [15:00]

Drop in prices on real estate property in Baku continues

"Real estate prices continue falling down in the capital city", said Ramil Osmanov, chief executive of the public association "Real estate market participants" speaking about the situation on the real estate market.
17 February 2009 [14:31]

Azerbaijan among top five countries on volumes of investments to Istanbul's economy

Last year the commercial chamber of Istanbul registered 125 companies from Azerbaijan, 451 from Germany, 358 from Netherlands and 170 from Iran.
16 February 2009 [17:00]

Azerbaijan's status in Extractive Industries Transparency Initiative confirmed

An international conference on Extractive Industries Transparency Initiative was launched in Doha (Qatar), said sources in the State Oil Fund of Azerbaijan.
16 February 2009 [16:42]

Sumgayitelektrikshebeke: "An agreement has been attained on payment of two month electricity debt by Azersu company"

Sumgayitelektrikshebeke stock company has made a concession to Azersu company in the issue of repayment of debt for electricity, said spokesman for Sumgayitelektrikshebeke Anar Guliyev.
16 February 2009 [13:31]

Azerbaijani Finance Minister: "World financial crisis has not affected the insurance sector of Azerbaijan"

The global financial crisis has not caused problems in the insurance sector of Azerbaijan, said chief of department of the state insurance control under the Finance Ministry Namik Khalilov.
16 February 2009 [12:00]

SOCAR joins Dinar Standard 100 rating

The research group to study market of the OIC member-states - DinarStandardis has released a rating of 100 best companies of 2008.
13 February 2009 [14:35]

Glencore Energy purchases 1 mln oil barrels from Azerbaijan

SOCAR department of marketing and economic operations of Azerbaijan has declared Glencore Energy UK Ltd (Great Britain) a purchaser of 1 mln Azeri Light oil barrels, according to the SOCAR press service.
13 February 2009 [13:23]

President of Azerbaijan: "Development of the non-oil sector in Azerbaijan was not slower than of the oil sector"

President of Azerbaijan Ilham Aliyev considers it necessary to reduce country's dependence on oil to minimum in the future.
13 February 2009 [12:57]

Governor of Belarus Minsk region to arrive in Azerbaijan

A delegation of the Minsk region of Belarus to be led by governor of this region Leodin Krupets is planning to visit Azerbaijan on February 23-26, according to AzerTac.
13 February 2009 [12:25]

Session of Azerbaijani-Jordan intergovernmental commission to be held in Amman

The first session of the Azerbaijan-Jordan intergovernmental commission on trade-economic and technical cooperation will be held in the capital of Jordan Amman on February 25-26, according to AzerTac.
13 February 2009 [11:12]

President of Azerbaijan inaugurates Baku international bus station complex

Azerbaijan President Ilham Aliyev has today inaugurated the Baku International Bus Station Complex.
13 February 2009 [10:38]

President of Azerbaijan inaugurates tunnel on Khyrdalan circle

President Ilham Aliyev inaugurated a tunnel on the Khyrdalan circle at the 11th km point of the Baku-Guba-Russia border highway.
13 February 2009 [09:59]

President of Azerbaijan inaugurates interchange on 16th km point of Baku-Guba-Russia border highway

President Ilham Aliyev attended an inauguration ceremony of an interchange on the 16th km point of the Baku-Guba-Russia border highway.
12 February 2009 [15:40]

Vahid Ahmedov: "Reduction of basic oil price in the state budget of Azerbaijan for 2009 can be viewed in the parliament in May-June"

"The drop in basic oil price in the state budget for 2009 can be viewed in the Azerbaijani parliament only in May-June", said member of the standing commission of Milli Medjlis on economic policy Vahid Ahmedov.
11 February 2009 [12:51]

Taurus Petroleum Limited purchases Azeri Light oil shipment from Azerbaijan

SOCAR department of marketing and economic operations declared Taurus Petroleum Limited (Switzerland) the purchaser of 600,000 Azeri Light oil barrels.
10 February 2009 [17:38]

Law on combat against money laundering adopted in Azerbaijan

At today's plenary session of Milli Medjlis deputies in the third reading adopted a draft law "On combat against legalization of illegal money or other property and financing terrorism".
10 February 2009 [12:59]

Water to be fully cut to Baku and Sumgayit

Electricity supply to the pumping stations of the objects of water economy of the Azersu stock company, according to the press service for the open stock company Sumgayitelektrikshebeke.
09 February 2009 [10:08]

Azerbaijan to take part in international tourism exhibition in Turkey

The International exhibition of tourism and travels of East Mediterranean - EMITT will be held in Istanbul (Turkey) on February 12-15.
07 February 2009 [13:45]

Eyub Huseynov: "The situation on the foodstuffs market in Azerbaijan is growing worse each year"

The foodstuffs market of Azerbaijan is in a poor state, said chairman of the Union of Free Consumers Eyub Huseynov speaking about the situation on the foodstuffs market of Azerbaijan.
07 February 2009 [10:23]

Sumato Energy purchases next Azeri Light oil shipment from Azerbaijan

SOCAR department of Marketing and Economic Operations declared Sumato Energy Group Limited (New Zealand) the purchaser of 1 mln barrels of AzeriLight oil, according to the press service for SOCAR.
06 February 2009 [17:41]

Forum on cooperation of entrepreneurs of Azerbaijan and South Korea in the sphere of ICT use held in Baku

Azerbaijani Ministry of Economic Development organized a forum on "Cooperation of small and middle enterprises of Azerbaijan and Korea in the sphere of use of advanced information and communication technologies".
06 February 2009 [17:22]

Ismet Abbasov: "Crisis is not dangerous for Azerbaijan as we produce 90% of essential goods"

Azerbaijani Minister of Agriculture Ismet Abbasov is positively assessing the situation in agriculture.
05 February 2009 [18:41]

Azerbaijan exports goods on $47.7 bln last year

In 2008 Azerbaijan conducted import and export transactions with 140 countries of a total of $54.9 bln, said sources from the State Statistical Committee.
05 February 2009 [18:26]

New oil refineries to be built in Baku

Certain corrections have been introduced to the SOCAR project due to the drop in oil prices on the world markets, said SOCAR president Rovnag Abdullayev, according to Novosti-Azerbaijan.
05 February 2009 [11:48]

Ukrainian ambassador to Azerbaijan: "Official Kiev is not against implementation of Nabucco project"

"Ukraine supports the Nabucco project and will take Azerbaijan's position in this issue into account", said Ukrainian ambassador to Azerbaijan Boris Klimchuk.
04 February 2009 [18:22]

Director of Nabucco project Reinhard Mitchek: "Implementation of Nabucco project is impossible without Turkey"

"Nabucco needs Turkey and this country is in Nabucco", said chief executive of the Nabucco project Reinhard Mitchek, according to Turkish ANKA news agency.
04 February 2009 [18:08]

Entrepreneurs of Erzurum oblast of Turkey intend to develop ties with Azerbaijan, Georgia and Iran

Great importance will be attached to the establishment of external ties for economic development of the Erzurum oblast (Turkey).
04 February 2009 [14:13]

Milli Medjlis deputy: "Azerbaijan should hold a "secret" analysis and compile a list of companies in need of state support"

Azerbaijan should hold "hidden" analysis and compile a list of companies in need of state support, said Ali Masimli, deputy and member of the standing parliamentary commission on economic policy speaking about the proposals on nationalization of large companies.
04 February 2009 [13:23]

Azerbaijan Tariff Council: "Information about rise in fuel prices is unfounded"

The Tariff Council of Azerbaijan does not consider issue about rise in fuel prices.
04 February 2009 [11:40]

Turkish expert: "Azerbaijan is currently the only gas supplier for Nabucco"

Expert of the International energy agency and organization for economic cooperation and development Mehmeh Ogutchu is skeptical about the implementation of the Nabucco gas pipeline.
03 February 2009 [11:15]

Mobile prices to be cut in Azerbaijan

02 February 2009 [18:47]

Azerbaijani companies partake in international footwear fair in Turkey

The seventh international GAPSHOES fair opened in Gaziantepe (Turkey).
02 February 2009 [18:41]

President of Azerbaijan to attend tenth OCE summit in Tehran

President of Iran Mahmud Ahmadinejad invited the Turkish President to attend the tenth summit of the Organization for Economic Cooperation to be held in Tehran on March 11 of this year.
02 February 2009 [18:26]

Baku-Istanbul round trip fare drops

Turkish Airlines has cut air ticket prices for Baku-Istanbul-Baku flights by 14%.
02 February 2009 [17:33]

Turkey gets $1.3 bln from transportation of Azerbaijani oil in 2008

In 2008 Ceyhan port launched 245,000,000 barrels of Azerbaijani oil out of 313,000,000.
02 February 2009 [16:24]

President of Azerbaijan: "Azerbaijan will need Nabucco in the future"

Azerbaijan is interested in the Nabucco project but considers that large financial means should be found for its implementation, said country's president Ilham Aliyev.
31 January 2009 [12:36]

President of Azerbaijan participates in forum on business interaction group on Azerbaijan in Davos

President of Azerbaijan Ilham Aliyev has participated in a forum on Business Interaction Group on Azerbaijan in Davos.
31 January 2009 [12:10]

President of Azerbaijan: "I can tell you that even with an oil price of $40 or $45 a barrel, which we have today, our economy will successfully function and our economy will be able to tolerate this level of price"

Azerbaijan's explosive economic growth will slow this year to 10 percent as the Caspian oil producer seeks to stabilise crude prices with oil output cuts, Azeri President Ilham Aliyev told Reuters.
30 January 2009 [18:50]

Baku-Kars air flights to resume

Air flights by the Baku-Kars route will resume in late April, said consul general of Azerbaijan to Kars Hasan Sultanoghlu, reports the Turkish Anadolu news agency.
30 January 2009 [15:43]

President of Azerbaijan invited to 13th Petersburg international economic forum

President of Azerbaijan Ilham Aliyev will be invited to Saint Petersburg for the 13th Petersburg international economic forum to be held on June 4-6 of this year, report sources from the steering committee of the forum, according to Novosti-Azeraijan.
30 January 2009 [10:27]

President of Azerbaijan attends special session on "Oil and gas geopolitics - a map in transition" in the framework of Davos economic forum

President Ilham Aliyev attended a special session on "Oil and gas geopolitics – a map in transition" held at the Morosani Schweizerhof hotel on January 29.
29 January 2009 [11:59]

National Bank of Azerbaijan to reduce discount reduce to 5%

The National bank of Azerbaijan will reduce discount rate from 8 to 5% from February 2 of this year, said the press service for the National Bank of Azerbaijan.
29 January 2009 [10:44]

SOCAR president discusses prospects of cooperation in oil and gas sector with the Iranian delegation

SOCAR president Rovnag Abdullayev received a delegation of Iranian NICO headed by its leader Mohamed Cavad Asemipur on January 28.
27 January 2009 [16:40]

Ilham Shaban: "The Nabucco project has no concept"

The Nabucco project has no concept, said Ilham Shaban, head of the Center of Oil Studies, according to Novosti-Azerbaijan.
27 January 2009 [12:37]

Azerbaijan planning to launch gas supplies to Bulgaria

Bulgaria will receive gas from Azerbaijan.
26 January 2009 [10:58]

Turkish Minister of Energy and Natural Resources to attend discussions of Nabucco project in Budapest

Turkish Minister of Energy and Natural Resources Hilmi Guler will leave for the Hungarian capital Budapest to discuss project of Nabucco gas pipeline, reports Day.Az with reference to Turkish Cihan.
26 January 2009 [10:13]

Le Figaro newspaper: "Turkey can settle the gas crisis in Europe by means of Azerbaijani, Turkmen and even Iranian gas"

Popular newspaper of French Le Figaro contains an article about strategic role of Turkey in Europe.
24 January 2009 [12:26]

Over 89,000 passenger cars imported to Azerbaijan in 2008

Last year Azerbaijan imported 89,044 passenger cars, which is 25.4% growth over 2007, said sources in the State Statistical Committee.
24 January 2009 [10:55]

Azerbaijani legislation in the statistical sphere to be brought in compliance with European standards

The State Statistical Committee of Azerbaijan continues talks with EU on twinning project estimated at EUR 900,000, said chairman of the State Statistical Committee of the country Arif Veliyev at a press conference today.
23 January 2009 [17:13]

Confederation of Azerbaijani Entrepreneurs launching new project in the sphere of social dialogue

The National Confederation of Entrepreneurs (employers) of Azerbaijan has launched implementation of the project "Cooperation in the sphere of social dialogue".
23 January 2009 [16:48]

Azerbaijan and Georgia among main egg importers from Turkey

The association of egg companies of Turkey raised export of production by 75% up to $120,000,000 in 2008.
23 January 2009 [16:17]

Fizuli Alekperov: "If we implement infrastructural projects in regions and villages, definite part of population will return to their native villages"

"In Azerbaijan a woman gives birth to 3.2 children", said Minister of Labor and Social Protection of the population Fizuli Alekperov.
23 January 2009 [15:19]

10,000,000 cubic meters of gas used from gas reserves of Azerbaijan every day

In 2008 Azerigaz received 11,205,000,000 cubic meters from the State Oil Company of Azerbaijan, said head of Azerigaz Alikhan Melikov at a press conference.
23 January 2009 [14:11]

Azerbaijan may see deflation in 2009

23 January 2009 [13:31]

Cost and rent of nonresidential areas drop in price in Baku again

The public association of Real estate market participants drew conclusions of the monitoring of the state of the market of nonresidential areas of the Azerbaijani capital in December of 2008.
22 January 2009 [12:17]

Fizuli Alekperov: "Our compatriots, who return from Russia, will not stay jobless in our country"

The decision of the Russian government to ban attraction of foreigners to retail trade will influence on our citizens, if there are engaged in labor activity, contradicting to these rules, said Minister of Labor and Social Protection of the Population of Azerbaijan Fizuli Alekperov.
22 January 2009 [11:24]

Azerbaijani and Kazakh delegations discuss oil transportation by Caspian Sea in London

"London hosted a meeting of the participants of the project of "Caspian shipping", supported by the British government, said sources in the Azerbaijani embassy to Great Britain.