Business

22 January 2009 [10:53]

Land drops in price from almost $500,000 to $360,000 in Baku

The Public Association "Estate Market Participants" has drawn results of the monitoring on the state of lands in the capital of Azerbaijan in December of 2008.
22 January 2009 [10:38]

Rovnag Abdullayev: "The gas crisis between Russia, Ukraine and Europe, raised Azerbaijan's significance"

"Though SOCAR revenues dropped due to the drop in oil prices, no changes are expected in internal investment projects and social programs, said SOCAR president Rovnag Abdullayev, according to AzTV.
22 January 2009 [10:29]

SOCAR puts off purchase of Tekfen Inshaat till September of 2009

Turkish Tekfen Holding announced that the conclusion of a deal of SOCAR's purchase of 50% stocks in its daughter affiliate - Tekfen Inshaat construction, has been put off.
21 January 2009 [15:21]

One more petrol station under SOCAR brand opens in Georgia

One more petrol station under SOCAR brand opened in Dmanisi region of Georgia on January 19.
21 January 2009 [13:56]

President of Azerbaijan to attend Nabucco summit in Budapest

A summit on Nabucco project will be held in Budapest on January 26-27, said Azerbaijani Foreign Minister Elmar Mamedyarov.
21 January 2009 [13:14]

Azerbaijan, Iran sign document on cooperation in motor transport

Memorandum of mutual understanding on cooperation in the sphere of motor transport was signed at the session of the Azerbaijani-Iranian commission on motor transport on January 20.
21 January 2009 [11:04]

Delegation of Azerbaijan attends international exhibition "Green Week" in Germany

A delegation of Azerbaijan is attending the international agroindustrial exhibition "Green Week" in Germany.
21 January 2009 [10:09]

Secondary real estate market prices drop to 2007 level in Baku

The public association of Real Estate Market Participants has drawn conclusions of the monitoring of the state of secondary estate market of Azerbaijani capital through December of 2008.
19 January 2009 [18:45]

Azerbaijan sees inflation at 21% in 2008

Consumer Prices Index increased 20.8% in Azerbaijan during 2008, said the State Statistical Committee.
19 January 2009 [13:26]

Azerbaijan exports goods of total of $47 bln through 11 months of 2008

In January-November of 2008 Azerbaijan conducted import-export operations with 139 countries of a total of $53.5 bln, said sources in the State Statistical Committee.
16 January 2009 [16:57]

Economic Research Center says annual inflation was 15.4% in Azerbaijan in 2008

Annual inflation reached 15.41 percent in Azerbaijan during 2008, said according to the Economic Research Center’s report based on the Alternative Inflation Methodology Development Project.
16 January 2009 [15:20]

Mutual trade turnover between Azerbaijan and Ukraine nears $1 bln

The mutual trade turnover between Azerbaijan and Ukraine made about $1 bln last year, said Ukrainian ambassador to Azerbaijan Boris Klimchuk, according to Novosti-Azerbaijan.
16 January 2009 [14:04]

Azerbaijan might raise volumes of fuel oil supplies to Ukraine

Volumes of fuel oil supply from Azerbaijan to Ukraine may grow in 2009, said Ukrainian ambassador to Azerbaijan Boris Klimchuk at a press conference on Friday.
16 January 2009 [12:01]

Inglab Ahmedov: "The fact that oil price is fixed on the level of $70 in the budget of this year does not mean that the budget will have great losses"

The fact that oil price is fixed on the level of $70 in the budget of this year, does not mean that the budget will have great losses, said famous economic Inglab Ahmedov.
16 January 2009 [11:22]

Igbal Aghazade: "Global economic crisis has affected the construction and banking sectors of Azerbaijan"

"The first stage of manifestation of the global economic crisis was observed in the leading economic sphere of Azerbaijan - oil sector", said chairman of the Umid party Igbal Aghazade.
16 January 2009 [10:03]

Alexander Prokhanov: "There are proposals to transport Azerbaijani and Kazakh gas to Europe but before their execution Europe may freeze from cold"

Famous Russian political figure Alexander Prokhanov in the interview to Turkish news agency Cihan announced that the gas crisis between Ukraine and Russia fixes the completion of Gazprom's epoch, reports Day.Az with reference to Turkish Cihan news agency.
15 January 2009 [15:10]

Azerbaijan may readjust state budget oil revenue estimate

Azerbaijan may readjust the 2009 state budget oil revenue estimate in the first half of this year, said Vahid Ahmadov, member of a parliamentary commission for economic policy.
15 January 2009 [11:28]

Estonian President: "Azerbaijan plays an important role in energy supply of Europe"

President of Estonia Toomas Hendrik Ilves who is on an official visit in Azerbaijan on January 14 met the Azerbaijani Minister of Industry and Energy Natig Aliyev.
14 January 2009 [18:56]

Azerbaijan ranking 99th for the level of economic freedom

Azerbaijan's economic freedom score is 58, making its economy the 99th freest in the 2009 Index.
14 January 2009 [14:00]

Azerbaijan to take part in several international tourism exhibitions

In January-February of this year Azerbaijan will take part in several international tourism exhibitions in order to propagandize tourism, said the press service for the Azerbaijani Ministry of Culture and Tourism.
13 January 2009 [18:48]

Azerbaijani vessel again studying shelf near Turkmenistan's shore

The vessel of Casmornefteflot of the State Oil Company of Azerbaijan Zohrab Veliyev, dealing with engineering and geological survey has again been sent to the Turkmenistan sea shore.
13 January 2009 [14:45]

NBA monetary reserves top $6 bln

13 January 2009 [11:39]

IAEA might make decision on construction of nuclear research reactor in Azerbaijan

IAEA might adopt a decision on construction of nuclear research reactor in Azerbaijan and results will come out after talks, said Azerbaijani ambassador to OSCE Fuad Ismaylov, accredited in IAEA, reports Day.Az with reference to AzTV channel.
12 January 2009 [18:01]

New WB regional director on South Caucasus appointed

The World Bank has appointed a new regional director on the South Caucasus countries Asad Alam.
12 January 2009 [13:55]

Freedom House: "Former Soviet Republics have been making steps behind for decades"

The international NGO Freedom House prepared a report "World freedom" of 2008.
12 January 2009 [12:56]

Mass dismissals in Azerbaijan connected with global financial crisis

Mass dismissals in Azerbaijan are connected with global financial crisis, said chairman of the Confederation of Trade Unions of Azerbaijan Sattar Mehbaliyev, according to Novosti-Azerbaijan.
09 January 2009 [12:30]

Greek Development Minister: "We should not panic about the gas conflict between Moscow and Kiev, we can appeal to Azerbaijan with a request to raise gas supplies"

"I do not rule out that the gas shortage can be compensated through supplies from Azerbaijan", said Greek Development Minister Christos Folias at a press conference in Athens, according to AzerTac.
09 January 2009 [12:17]

Italy to import gas from Azerbaijan

Italy intends to import gas from Azerbaijan, said executive director of the Italian energy company Edison SpA Umberto Guadrino, according to AzerTac.
09 January 2009 [10:53]

Natik Aliyev: "Azerbaijan has received proposals of Turkey and Greece on purchases of natural gas"

Azerbaijan's Minister of Energy and Industry Natik Aliyev announced that the Azerbaijani side has received proposals from Turkey and Greece on purchases of natural gas.
08 January 2009 [13:22]

Alekper Mamedov: "Government must take a number of measures to reduce influence of global crisis on the private sector of Azerbaijan"

I think crisis has already started to influence Azerbaijan, considers Alekper Mamedov, chairman of the Azerbaijan National Confederation of entrepreneurs (Employers).
08 January 2009 [12:32]

Sabit Baghirov: "Russia attempts to prevent supply of Azerbaijani and Turkmen gas to European markets by all means"

Russia attempts to prevent the implementation of projects bypassing it but I think it will fail, said head of the Center of Economic and Political Studies Sabit Baghirov.
08 January 2009 [11:20]

New head of Turkish trade representative office in Baku appointed

Gazi Bilgin has been appointed the new head of the Turkish Trade Representative Office under the Turkish Embassy in Azerbaijan, reports Day.Az with reference to AzerTac.
08 January 2009 [11:08]

Azerbaijan's real estate market suffers from global financial crisis

The real estate market, which is among the most developing and fast growing economic sectors of Azerbaijan, was also hit by the global financial crisis.
08 January 2009 [10:28]

Five star hotels under construction in one of the villages of Ismayilli region, Azerbaijan

A complex of five star hotels is under construction in Ismayilli region of Azerbaijan, reports Day.Az with reference to AzerTac.
07 January 2009 [17:02]

The Guardian publishes article about problems in implementation of Nabucco pipeline

The Guardian has published an article about difficulties in implementation of Nabucco pipeline, entitled: "Europe's plan for alternative pipeline faces big problems".
07 January 2009 [15:50]

Azerbaijan ranking 9th among post-Soviet countries for devaluation of national currently against US dollar

Belarus is leading among the former USSR states for devaluation of national currency against US dollar.
07 January 2009 [11:13]

BTC pipes 70 mln tons of Caspian oil to world markets

Nearly 70 million tons of crude oil have been transported via Baku-Tblisi-Ceyhan (BTC) Pipeline from June 2006 to the end of 2008, Anadolu news agency reported on Tuesday.
06 January 2009 [16:25]

International Bank of Azerbaijan opens its affiliate in New York

According to the press service for the International Bank of Azerbaijan, on January 2 of 2009 the IBA representative office in New York started its official operation.
06 January 2009 [15:06]

Turkey buys 17 mln cubic meters of Azerbaijani natural gas per day

The daily volume of natural gas, purchased by Turkey from Azerbaijan, makes 17,000,000 cubic meters, reports Day.Az with reference to Turkish Haberler.com.
06 January 2009 [11:56]

Ilham Shaban: "Rise in cost of oil on world market is a seasonal event"

The cost of an oil barrel made $48.93 in London an hour ago.
06 January 2009 [10:10]

SOCAR exports 1,200,000 tons of oil by Baku-Novorossiysk pipeline in 2008

In 2008 the SOCAR department of marketing and economic operations exported 1,196,547 tons of crude from the Russian port of Novorossiysk.
05 January 2009 [15:36]

New standard on oil products applied in Georgia from new year

A new standard on oil products has been applied in Georgia by a decision of the Georgian powers from January 1.
05 January 2009 [13:20]

Priority of NBA's monetary policy for 2009 is maintenance of macroeconomic stability

The monetary policy of the National Bank of Azerbaijan for 2009 will be intended for the further support of macroeconomic stability and provision of protection of banking system's financial stability.
05 January 2009 [11:27]

SOCAR investments $400,000,000 to Georgian economy

SOCAR has invested a total of $400,000,000 to the economy of Georgia, said SOCAR president Rovnag Abdullayev, according to Novosti-Azerbaijan.
29 December 2008 [18:51]

President of Azerbaijan attends opening of Icheri Sheher underground station

The Icheri Sheher underground station opened today after reconstruction, said sources from the Baku underground.
29 December 2008 [15:24]

Commodity turnover between Russia and Azerbaijan tops $2 bln

Azerbaijan-Russian relations were developing intensively in 2008, said Azerbaijani ambassador to Russia Polad Bulbuloghlu, Interfax-Azerbaijan reports with reference to Lider TV.
29 December 2008 [14:28]

Azerbaijan raises car import by 40%

In January-November of this year Azerbaijan imported 81,245 passenger cars of $596,748,800, said sources from the State Customs Committee.
29 December 2008 [12:33]

33 ships of Kasmornefteflot to undergo repair next year

The Baku shiprepairing plant has recently completed the major repair of Kur, biggest tow boat of Kasmornefteflot of the State Oil Company of Azerbaijan.
29 December 2008 [12:14]

Eyub Huseynov: "All popular and respectable local restaurants are owned by three or four oligarchs, who have monopolized this segment of the local consumer market"

There have not been any positive changes in the issue of improvement in the situation on the local market in the passing year, said chairman of the Union of free consumers of Azerbaijan Eyub Huseynov.
29 December 2008 [10:50]

Georgian energy minister: "The agreement on energy exchange, concluded with Azerbaijan, can be reviewed once in six months"

The energy system of the country is ready to stand greater challenges, said Georgian Energy Minister Alexander Khetaguri.
29 December 2008 [10:24]

National budget group: "The share of local revenues in the state budget of Azerbaijan is extremely low"

The share of local revenues in the state budget for 2009 is extremely law, says a statement of the National Budget group - one of NGOs, functioning in Azerbaijan, according to Novosti-Azerbaijan.
27 December 2008 [14:38]

Gas prices supplied to Turkey from Azerbaijan to rise

Talks about the sale of Azerbaijani gas, transported by the Baku-Tbilisi-Erzirum gas pipeline, to Turkey, as well as the sale price are underway with official Ankara, said SOCAR president Rovnag Abdullayev.
27 December 2008 [10:59]

SOCAR affiliate signs agreement to purchase gas ditribution companies of Georgia

SOCAR Energy Georgia (affiliate of the State Oil Company of Azerbaijan) and the government of Georgia signed a contract due to the purchase of the gas distribution companies.
27 December 2008 [10:50]

Tariffs on ADSL-services reduced in Azerbaijan

Aztelecom company under the Azerbaijan Ministry of Communication and Information Technologies ratified new tariffs on internet services, provided via ADSL technologies.
26 December 2008 [15:44]

Deputy Aynur Guliyeva: "Foreign companies, functioning in Azerbaijan, are rudely violating the labor code of the country"

Foreign companies, functioning in Azerbaijan, discriminate their Azerbaijani employees, said deputy Aynur Guliyeva.
26 December 2008 [14:31]

President of Azerbaijan inaugurates Heydar Aliyev Avenue - PHOTO

President Ilham Aliyev inaugurated the newly reconstructed Heydar Aliyev Avenue on December 25.
25 December 2008 [17:10]

New Tunnel-Bridge Complex commissioned in Azerbaijani capital

Akkord Group of Companies has commissioned a new Tunnel- Bridge complex at the intersection of Heydar Aliyev, Babek and Khatai Avenues.