Business

07 November 2008 [18:31]

SOCAR vice president receives EU energy commissioner

SOCAR vice president on investments and marketing Elshad Nasirov received EU commissioner on energy Andris Piebalgas.
07 November 2008 [16:20]

Azerbaijan represented in a session of a strategic group of World Tourism Organization

Azerbaijani Minister of Culture and Tourism Abulfaz Garayev is attending a regular session of the strategic group of the World Tourism Organization in Madrid, said the press service for the Ministry.
07 November 2008 [16:12]

Influence of world economic crisis on Azerbaijani economy to be discussed in Washington

The US-Azerbaijan commercial chamber (USACC) is arranging a meeting on "Global financial crisis and its influence on the future of economy of Azerbaijan".
07 November 2008 [14:36]

Georgian Energy Minister: "The whole volume of natural gas to supply Georgian population with gas will be imported from Azerbaijan"

In 2007 Georgia may get less gas from Russia owing the possible opening of Iran-Armenia gas pipeline in November, said Georgian energy minister Alexander Khetaguri.
06 November 2008 [18:12]

Azerbaijan accounts for 1,148 ATMs and 7,665 POS-terminals

As of October 1 of this year the number of ATMs in Azerbaijan made 1,448.
06 November 2008 [17:40]

Azerbaijan predicts inflation will not to exceed 14% in 2009

Inflation is projected to be around 12-14% in Azerbaijan next year, said Shahin Mustafayev, Minister of Economic Development.
06 November 2008 [15:11]

AIC interested in investment into information and communication technologies

The Azerbaijan Investment Company is studying possible long-term investment into the sector of information and communication technologies.
06 November 2008 [10:20]

Oil transportation by Baku-Supsa pipeline resumed

BP-Azerbaijan has resumed transportation of Azerbaijani oil by the Baku-Supsa pipeline.
05 November 2008 [11:12]

Iranian Foreign Minister to arrive in Baku

The seventh session of the intergovernmental economic commission Azerbaijan-Iran will be held in Baku in November-December of 2008, reports Day.Az with reference to AzerTac.
05 November 2008 [11:06]

SOCAR opens representative office in Ukraine

The State Oil Company of Azerbaijan has opened a representative office in Ukraine, said leading specialist of the company Elchin Mamedov, Day.Az reports Shabiyar Shafiyev.
05 November 2008 [10:12]

Minsk to host session of intergovernmental economic commission Azerbaijan-Belarus

Minsk will host the fifth session of the intergovernmental economic commission Azerbaijan-Belarus in December, said adviser on economic issues of the Belarus embassy to Baku Sergey Panasyuk, Day.Az reports with reference to AzerTac.
04 November 2008 [18:15]

New Economic Development Minister starts staff dismissal

New Economic Development Minister of Azerbaijan Shahin Mustafayev started conduction of staff changes in his Ministry.
04 November 2008 [16:37]

Turkish Minister of Energy and Natural Resources: "BTC pipeline has transported 470,000,000 barrels of crude"

The daily volume of BTC pipeline transportation will reach 1,600,000 barrels.
04 November 2008 [14:58]

3,530 foreigners receive permission to work in Azerbaijan in 2008

In January-October of 2008 3,530 foreigners received an individual permission to work in Azerbaijan, said Rauf Taghiyev, chief of department of migration under Azerbaijani Ministry of Labor and Social Protection.
04 November 2008 [12:51]

Russian ambassador to Azerbaijan visits Samukh region

Russian ambassador to Azerbaijan Vasili Istratov visited the Samukh region of Azerbaijan on Monday.
04 November 2008 [10:19]

Transit of Kazakh oil via BTC pipeline commences

Transit of Kazakh oil via BTC Main export oil pipeline has commenced, APA reports with reference to ITAR-TASS agency.
03 November 2008 [22:19]

Baku-Novorossiysk pipeline exports over 1,000,000 of oil in January-October of this year

The SOCAR department of marketing and economic operations exported 83,678 tons of oil in October of 2008.
03 November 2008 [14:28]

45 bridges to be built in Azerbaijan in the next three years

45 motor bridges will be constructed in Azerbaijan in the next three years.
03 November 2008 [14:21]

Conference on methods of oil polluted lands cleaning held in Baku

A two day conference on methods of restoration of the oil polluted sections, organized by the department of ecology of the State Oil Company of Azerbaijan, kicked off in Baku.
01 November 2008 [13:29]

Azerbaijan’s largest broiler farm to shut down

Azerbaijan’s largest broiler farm, Merdekan Broyler, will shut down in November.
01 November 2008 [10:51]

WB representatives to arrive in Azerbaijan

A group of WB experts will arrive in Azerbaijani capital on November 10, reports Day.Az with reference to AzerTac.
01 November 2008 [09:51]

Azerbaijani ambassador calls on Kuwait businessmen to establish ties with Azerbaijani entrepreneurs

"We invite Kuwait investors to Azerbaijan and we always encourage Islamic investors to invest into the development of our economy", said Azerbaijani ambassador to Kuwait Shain Abdullayev at a press conference, Day.Az reports with reference to Kuwait Times.
31 October 2008 [17:32]

Azerbaijani-Turkish-American foundation established in the United States

The Azerbaijani-Turkish-American foundation (ATAF) was founded under support of the Azerbaijan -Turkey Businessmen Association Ahmed Erentok in the United States.
31 October 2008 [16:57]

Azerbaijani parliament adopts draft law on combat with money laundering and terrorism financing

Milli Medjlis of Azerbaijan has adopted the draft law "On combat with money laundering and terrorism financing" today.
31 October 2008 [16:35]

A new footbridge to be opened in Baku next month

A new footbridge will be opened in Baku in November, said Punhan Mursaliyev, Press secretary of Azeryolservis.
31 October 2008 [15:59]

New motor-road bridge to be launched in Guba region, Azerbaijan

A new motor-road bridge over Velvelchay river will soon be launched in the Guba region of Azerbaijan, said spokesman for Azeryolservis Punkhan Mursaliyev.
31 October 2008 [11:53]

Georgia owes $14,427 mln to Azerbaijan

The Georgian Finance Ministry has provided information about the external debt of Georgia and total volume of arrears.
31 October 2008 [11:37]

NBA reduces discount rate to annual 10%

The board of the National Bank of Azerbaijan decided to reduce the discount rates from annual 12 to 10% beginning from October 31, reports the press service for the National Bank.
30 October 2008 [18:40]

Azerbaijan is going to buy patrol ferryboats from Russia

Russian shipbuilding company Almaz is negotiating with Azerbaijan on the contract of sale of Sobol patrol ferryboats, said chief of the company’s special office Vladimir Mokhotayev, APA quotes Russian ARMS-TASS agency.
30 October 2008 [18:25]

Commodity turnover between Azerbaijan and US may grow up to $5 bln

Acting economic development minister of Azerbaijan Heydar Babayev received a delegation led by US commerce deputy secretary John Sullivan.
30 October 2008 [17:41]

Azerbaijan to raise pensions next year

Labor pensions and subsistence minimum will be raised in Azerbaijan next year, said Hadi Rajabli, chairman of a parliamentary commission for social policy.
30 October 2008 [16:52]

Educational center for young entrepreneurs to open in Baku

The opening ceremony of an educational center for young entrepreneurs will be held in Baku tomorrow.
30 October 2008 [16:38]

Project on support of reforms in the sphere of Azerbaijan's state spendings being implemented

The trainings "Development and financing of projects" have been launched in the framework of the USAID project on support of reforms in the sphere of state spendings of Azerbaijan.
30 October 2008 [12:54]

Oil leaks in the result of illegal connection to the Baku-Novorossiysk main oil pipeline

Leakage of 7.5 tons of oil in the Derbent region of Dagestan will not cause damage to the State Oil Company of Azerbaijan, said SOCAR vice president on investments and marketing Elshad Nasirov.
30 October 2008 [10:33]

US Commerce Deputy Secretary: "SOCAR has gained wide influence throughout the world"

SOCAR President Rovnag Abdullayev received a delegation, led by US Commerce Deputy Secretary John Sullivan on October 29.
30 October 2008 [10:13]

Azerbaijan covers electricity debt to Iran

Azerbaijan has completely covered its electricity arrears owed to Iran, said AzerEnerji.
29 October 2008 [14:48]

President of Azerbaijan receives US Commerce Deputy Secretary

President of Azerbaijan Ilham Aliyev received a delegation led by John Sullivan, US Commerce Deputy Secretary, reports Day.Az with reference to AzerTac.
29 October 2008 [13:55]

Real effective exchange rate of the manat climbs 15.1%

The real effective exchange rate (REER) of the manat (national currency) climbed 15.1% during January-September, an eight-year high since 2000, said the National Bank of Azerbaijan.
29 October 2008 [10:29]

Saipem wins contract for maintenance of BP offshore facilities in Azerbaijan

Saipem, Europe's biggest oil-field services contractor by market value, won a contract in Azerbaijan.
29 October 2008 [10:26]

Azerbaijan, Iran to discuss gas export next week

Azerbaijan and Iran will explore the possibility of a proposed gas deal in Tehran on November 3, ISNA reported.
28 October 2008 [18:00]

Georgian President to attend fourth energy summit in Baku

President of Georgia Mikhail Saakashvili will attend the fourth energy summit to be held in Baku on November 14.
28 October 2008 [17:06]

US Commerce Deputy Secretary arrives in Azerbaijan

US Commerce Deputy Secretary John Sullivan will arrive in Azerbaijan on Wednesday, US ambassador to Azerbaijan Anne Derse told journalists, APA reports.
27 October 2008 [15:54]

Azerbaijan raises passenger car import by 51%

In January-September of 2008 Azerbaijan imported 62,942 passenger cars.
27 October 2008 [14:35]

Session of railway administrations of CIS and Baltic states held in Baku

A two-week session of the railway administrations of the CIS and Baltic states started in Baku.
27 October 2008 [14:29]

Azerbaijani Railway Company predicting transportation of 35 mln tons of cargo in 2009

The Azerbaijan Railway Company is predicting transportation of 35 mln tons of cargo for 2009, according to sources from the company.
27 October 2008 [13:59]

Presentation of export catalogue of Azerbaijan to be held in Baku

The Azerbaijan Export and Investments Encouragement Foundation will hold a presentation of the export catalogue of Azerbaijan, prepared by Azerbaijani Marketing Sкаталогociety, on October 27.
27 October 2008 [12:07]

Gubad Ibadoghlu: "Oil price drop showed that Azerbaijan's dependence on oil prices is too dangerous for the country"

Day.Az interview with Gubad Ibadoghlu, famous economist and head of the Economic Research Center.
27 October 2008 [10:51]

Azad Javadov: "Bank depositors in Azerbaijan do not have to worry"

Azerbaijan has sufficient monetary reserves ($17 bln) to resist a situation when crisis would lead to bankruptcy of Azerbaijani banks", said chief executive of the Azerbaijan Deposits Insurance Foundation Azad Javadov.
27 October 2008 [10:22]

Price of Azerbaijani gas not to increase for Georgia

Price of Azerbaijani gas will not be increased for Georgia, reports Rustavi 2 TV company, speaking of results of the meeting of the presidents of Georgia and Azerbaijan in Baku.
27 October 2008 [10:13]

IBA planning to allocate AZN 10,000,000 for its mortgage lending program

The International Bank of Azerbaijan is planning to allocate mortgage loans in the amount of AZN 10 mln in 2009, said chairman of the board of the International Bank of Azerbaijan Cahangir Hajiyev.
25 October 2008 [09:34]

Inglab Ahmedov: "Economic perspectives of Azerbaijan seem gloomy"

Day.Az interview with famous economic expert Inglab Ahmedov.
24 October 2008 [13:59]

New highways to be put in service in Azerbaijani regions by the end of the year

Akkord Inshaat Senaye plans to put into service highways in the regions of Azerbaijan, said sources from the company’s architecture and design department.
24 October 2008 [13:39]

Elman Rustamov: "Azerbaijan has passed to the most conservative model of country's monetary reserves management"

Azerbaijan has passed to the most conservative model of country's monetary reserves management, said chairman of the board of the National Bank of Azerbaijan Elman Rustamov.
24 October 2008 [12:14]

Elman Rustamov: "We will spare no efforts for the world financial crisis to bypass us"

Azerbaijan has no fundamental grounds for the world economic crisis to influence it, said chairman of NBA directors' board Elman Rustamov.
24 October 2008 [11:50]

Ilham Shaban: "Azerbaijan Economic Development Ministry has made an unreal forecast"

The Ministry of Economic Development has developed an unreal forecast for 2009, said Ilham Shaban, head of the center of oil studies.
24 October 2008 [11:04]

Oqtay Ahverdiyev: "The world financial crisis has affected Azerbaijan only partially"

It is possible to say that Azerbaijan has not sustained losses from the world financial crisis, said famous political economist Oqtay Ahverdiyev.
24 October 2008 [09:56]

General director of CIS Financial and Banking council: "Azerbaijan can become a participant of the CIS united payment system"

Azerbaijan, Russia, Kazakhstan and, perhaps, Ukraine and Belarus can become members of the united payment system of the CIS states, considers Pavel Nefidov, general director of the CIS Financial and Banking council.
24 October 2008 [09:47]

Azerbaijan may become one of the financial centers of CIS

Azerbaijan may become one of the financial centers of the CIS due to its rapid economic growth and stably developing banking sector, said chairman of the IBA-Moscow board Fuad Abdullayev at a press conference in Baku.
23 October 2008 [15:08]

Romanian-Azerbaijani business forum held in Bucharest

Romanian-Azerbaijani business forum was held in Bucharest on October 20-23, reported sources from the Azerbaijani embassy to Romania.
23 October 2008 [14:18]

Baku-Kars air flights to be suspended

Azerbaijani Turan Air will suspend Baku-Kars flights from October 24 of this year, sources from Turan Air told APA.
22 October 2008 [17:30]

Several new bridges to open in Azerbaijan this year

A number of bridges, pedestrian crossings and tunnels will be opened for use in Baku and Khirdalan by the end of this year.
22 October 2008 [16:31]

Nazim Mamedov: "Over 95% of privatized enterprises are idle in Azerbaijan"

Over 95% of privatized enterprises are idle in Azerbaijan, said Nazim Mamedov, member of the permanent parliamentary commission on economic policy.
22 October 2008 [13:17]

Newly erected buildings continue growing expensive

Public association "Real estate market participants" has drawn conclusions of the monitoring of the state of the primary residence market in the Azerbaijani capital for September of 2008.
21 October 2008 [15:49]

Romanian-Azerbaijani business forum starts in Bucharest

The Romanian-Azerbaijani business-forum started in Bucharest on October 21 under steering support of the Azerbaijani Entrepreneurs Confederation and German Technical Cooperation Society.