Business

11 August 2008 [17:01]

BTC oil pipeline fire extinguished - BP source

A fire on the Baku-Tbilisi-Ceyhan (BTC) oil pipeline was extinguished on Monday, a senior source at BP told Reuters.
11 August 2008 [11:32]

Azerbaijani cargo transshipment via Georgian ports halted

Georgian ports of Poti and Batumi do not accept Azerbaijani cargo due to the recent events in South Ossetia, said the press service for the Azerbaijani State Railway Service, according to Interfax-Azerbaijan.
11 August 2008 [09:53]

Fire burns 20,000 tons of oil at Turkish section of BTC pipeline

The damage from fire at the Baku-Tbilisi-Ceyhan pipeline will be neutralized by insurance.
08 August 2008 [10:35]

Turkish energy minister: "Fire on BTC pipeline will stop in 1-2 days"

Turkish Minister of Energy and Natural Resources Hilmi Guler visited the place of fire at Baku-Tbilisi-Ceyhan pipeline.
08 August 2008 [09:09]

BP declares state of emergency due to explosion at BTC

British Petroleum declared the state of emergency at the Baku-Tbilisi-Ceyhan pipeline, caused by an explosion, which occurred on August 6, and a fire on the pipeline.
07 August 2008 [17:31]

Oil transportation by Baku-Tbilisi-Ceyhan pipeline fully stopped

Oil transportation by Baku-Tbilisi-Ceyhan pipeline has been fully stopped due to the fire, which occurred in Turkey, reports Day.Az with reference to ANS TV.
07 August 2008 [12:23]

BP-Azerbaijan reduces offshore oil production

BP-Azerbaijan has cut production of oil from the Azeri-Chirag-Guneshli fields in the Azerbaijani sector of the Caspian Sea, said spokesman for the company Tamam Bayatli, according to Interfax-Azerbaijan.
06 August 2008 [14:44]

Explosion hits Turkish section of Baku-Tbilisi-Ceyhan pipeline - UPDATED

Fire hit the Erzindjan-Rafahiya section of Baku-Tbilisi-Ceyhan pipeline in Turkey.
01 August 2008 [09:15]

Net of express railroads to be launched in Azerbaijan by 2020

Korean specialists presented renewed proposals on the reconstruction of a railroad section from Baku to the Georgian border, said deputy transport Minister of Azerbaijan Musa Panakhov.
31 July 2008 [12:03]

Construction of rubbish recycling plant in Azerbaijan to take EUR 350 mln

Construction of a rubbish recycling plant in Azerbaijan is estimated at EUR 350 mln, said executive director on international operations of French CNIM Andre Berte in Baku at the presentation of the plant, Interfax-Azerbaijan reports with reference to the Cabinet of Ministers.
30 July 2008 [16:50]

Tea crops fall 75.8% in Lenkoran, Azerbaijan

The results of the first half of this year fix deepening of crisis in Lenkoran tea-growing sector.
30 July 2008 [13:59]

$2 bln to be spent on reconstruction of Azerbaijan's railroads

The state program on the reconstruction of railroads in Azerbaijan will be confirmed soon.
30 July 2008 [10:31]

Azerbaijan to participate in World Travel Market

The steering committee of the World Travel Market declared Azerbaijan's participation in the tourism exhibition this year.
30 July 2008 [09:13]

Azerbaijan ranking fifth among CIS states for salary level

The average salary in Azerbaijan makes $317, which brings the country to the fifth place for the said indicator among the CIS states. To compare, the average salary in Russia made $718 in May of 2008, in Kazakhstan $485, Belarus $396, Ukraine $356.
30 July 2008 [09:05]

Over AZN 9.3 bln in circulation in Azerbaijan

As of July 1 Azerbaijan accounted for AZN 1,326.9 mln in circulation.
29 July 2008 [17:09]

IMF says its World Economic Outlook projections on Azerbaijan were misinterpreted

Today.Az has received a letter from the representative office of the International Monetary Fund in Azerbaijan, according to which the IMF projections on Azerbaijan were misinterpreted.
29 July 2008 [12:33]

Rules of transborder transportation of hazardous wastes ratified in Azerbaijan

The Cabinet of Ministers has ratified rules of transborder transportation of hazardous wastes.
26 July 2008 [13:15]

Over $1 bln to be invested to Azerbaijan's sewerage system

The World Bank is ready to allocate $1.2 bln to Azerbaijan. creditors, reports rb.ru with reference to Reuters.
26 July 2008 [11:59]

Inglab Ahmedov: "Economic future of Azerbaijan seems obscure to me"

Day.Az interview with famous economist Inglab Ahmedov.
26 July 2008 [09:17]

WB representative: "We are ready for cooperation with Azerbaijan on most projects"

Azerbaijan's Economic Development Minister Heydar Babayev received a delegation, led by chief of WB sector on long-term development of Europe and Central Asia Peter Thompson.
25 July 2008 [12:01]

Russia malcontent with quality of cognac alcohol, supplied from Azerbaijan

Cheap cognac brands, produced in Russia, are of doubtful quality, said chief of the Research Center of Federal and Regional Alcohol Market Vadim Drobiz.
25 July 2008 [11:27]

Baku to host Azerbaijani-Romanian business forum

Romanian Prime Minister Kelin Popesku-Terichanu will arrive in Azerbaijan in early September, said a source from the Romanian embassy to Azerbaijan.
25 July 2008 [10:01]

EBRD representative: "Economic reforms, conducted in Azerbaijan, is the focus of our attention"

Azerbaijan's Economic Development Minister Heydar Babayev received Kurt Gaider, director of the EBRD business group on financial institutions.
25 July 2008 [09:28]

IMF: "Azerbaijan will be the only CIS state to experience economic recession in the long term perspective"

The International Monetary Fund predicts economic recession in Azerbaijan beginning from 2012.
24 July 2008 [15:55]

President of Azerbaijan attends ground-breaking ceremony of the Turkish section of Baku-Tbilisi-Kard railroad - UPDATED

The ground-breaking ceremony of the Turkish section of the Baku-Tbilisi-Kars railroad was held today in Kars at 10:30 local time.
24 July 2008 [12:48]

50 buses worth $150.000 to be delivered to Azerbaijan

Expensive passenger buses will be imported to Azerbaijan in the next month.
24 July 2008 [10:47]

Rovnag Abdullayev: "Azerbaijani government takes serious steps to ensure alternative transportations of energy sources to the world markets"

SOCAR President Rovnag Abdullayev received French ambassador to Azerbaijan Gabriel Keller, said the press service for SOCAR.
23 July 2008 [12:47]

BP company calls back its employees from Russia with a part to continue working in Azerbaijan

British BP company is calling back its technical specialists from Russia.
23 July 2008 [12:07]

SOCAR's daughter enterprise expanding net of petrol stations in Georgia

SOCAR Energy Georgia, daughter enterprise of the State Oil Company of Azerbaijan is implementing long-term plans of opening of SOCAR brand petrol stations in Georgia.
23 July 2008 [09:29]

Azerbaijan ready to import Ukrainian grain

Azerbaijan is interested in buying Ukrainian new crops of grain, said first vice Premier of Azerbaijan Yaqub Eyubov during the meeting with Ukrainian ambassador to Azerbaijan Boris Klimchuk.
22 July 2008 [16:42]

Azerbaijan's investments to Istanbul's economy rise 6.73%

The commercial chamber of Istanbul registered 59 companies from Azerbaijan, 21 from India, 8 Singapore, 6 Malaysia, 244 Germany and 68 Great Britain in the first half of this year.
22 July 2008 [11:24]

AZN 3.6 billion invested to Azerbaijan's construction complex through six months

The construction complex of Azerbaijan has been invested AZN 3,6 bln through six months of the year, said a source from the State Statistical Committee.
21 July 2008 [15:22]

Azerbaijani delegation attending the session of Baku-Tbilisi-Kars railroad construction in Tbilisi

A delegation, led by head engineer of the Azerbaijani State Railway Service Gurban Nazirov is taking part at a trilateral meeting on the opening of the Baku-Tbilisi-Kars railroad, held in Tbilisi, said spokesman for the Azerbaijani State Railway Service Nadir Azmamedov.
21 July 2008 [11:37]

Baku-Kars air flight opens

65 people have become today the passengers of the first airflight by Baku-Kars route of Turan air company, said the press service for the company, according to Novosti-Azerbaijan.
21 July 2008 [11:09]

Intergovernmental commission on Azerbaijan-Latvia economic cooperation holds its second session

Riga hosted the second session of the intergovernmental commission on economic, scientific-technical and cultural cooperation between Azerbaijan and Latvia, said the press service for Azerbaijan's Economic Development Ministry.
19 July 2008 [11:31]

Heydar Babayev holds meeting with Latvian Foreign Minister

Latvian Foreign Minister Maris Rikstins received Azerbaijani Economic Development Minister Heydar Babayev, visiting Riga.
18 July 2008 [15:12]

Baku to host World Youth Employment Summit

The fourth world youth employment summit will be held in our capital in September.
18 July 2008 [14:16]

Bank Respublika signs largest credit agreement of $50 mln in the history of Azerbaijan's private banking sector

Bank Republika and Austrian Raiffeisen Zentralbank Oesterreich AG ("RZB") signed a credit agreement in the amount of $50 mln, which is the biggest one in the history of Azerbaijan's private banking sector.
18 July 2008 [10:42]

Araz Mamedov: "Culture in Azerbaijan is not only on the low level, but also degrading"

Day.Az interview with Araz Mamedov, producer of the Night of the Ad Eaters in Azerbaijan and founder of Flexible Solutions company.
17 July 2008 [17:24]

Azerbaijan's banking deposits make AZN 1,603,000,000

As of July 1 of 2008, the banking savings of the Azerbaijani population made AZN 1,603,000,000.
17 July 2008 [17:16]

SOCAR-Turcas-Injaz unveils $5 billion investment plan for Petkim

The SOCAR-Turcas-Injaz alliance (Azerbaijan-Turkey-Saudi Arabia), the owner of a 51% stake in Petkim Holding, the largest petrochemical firm in Turkey, unveiled a $5 billion investment plan.
17 July 2008 [15:05]

GDP makes $18.5 bln in first six months of 2008

Azerbaijan's GDP make $18.5 bln in the first six months of 2008, said a source from the state statistical committee of Azerbaijan.
17 July 2008 [12:23]

Underground gas reservoir under construction in Nakhchivan

For the purpose of stable gas supply to the population of the Nakhchivan Autonomous Republic, it was decided to drill wells in the Boyukduz and Guivrag settlements.
16 July 2008 [17:53]

Works for improvement of water supply and sewerage systems to be carried out in Ganja

Works for implementation of the project on improvement of water supply and sewerage systems of Ganja will be held in September of this year.
15 July 2008 [13:54]

Sikorsky and IHC sign for two S-92® helicopters

Sikorsky Aircraft Corp. has sold two S-92® helicopters to the International Handling Company Limited (IHC), Sikorsky announced today at the Farnborough International Air Show. Sikorsky is a subsidiary of United Technologies Corp.
15 July 2008 [09:51]

Bahrain International Investment Bank purchases 49% shares in Azerbaijani bank

Amrahbank recently completed the sale of its 49% shares to international investment bank (IIB), based in Bahrain, according to a source from Amrahbank.
15 July 2008 [09:01]

Cost of Baku-London-Baku air flight cut

British bmi aviation company has announced a campaign of summer discounts for Baku-London-Baku air flight, reported a source from the company's Baku office.
14 July 2008 [11:37]

Heydar Babayev: "Azerbaijan attaches special importance to cooperation with European commission"

Azerbaijan's Minister of Economic Development Heydar Babayev received manager on projects in Azerbaijan of the General directorate of European commission Caido Sirela.
14 July 2008 [10:32]

Baku hosts Caucasus Tea-growers Congress

The Caucasus Tea-growers Congress has been held in the Azerbaijani capital.
14 July 2008 [10:03]

Ferrari representative office likely to open in Baku

"It would be more expedient to open Ferrari representative office in Azerbaijan, not in Georgia", said Tariel Khechilashvili, president of Iberia business group, functioning in Georgia.
11 July 2008 [13:46]

Azerbaijan, Kazakhstan to lay Trans-Asia-Europe line by the Caspian floor

A segment of Trans-Asia-Europe (TAE) fiber-optic cable line will be laid between the Siyazan (Azerbaijan) and Aktau (Kazakhstan).
11 July 2008 [10:27]

Russian air company strikes agreement with Azeri Airlines about sale of e-tickets

Russian S7 Airlines have declared the start of mutual sales of e-tickets for flights of S7 Airlines and foreign aviation partners.
10 July 2008 [17:04]

Baku to host Caucasus Tea-growers Congress

The first in the region Caucasus Tea-growers Congress will be held in Baku on July 11-13.
10 July 2008 [15:47]

Azerbaijan's Finance Ministry to adopt new requirements to insurance companies' capital

By August the Finance Ministry plans to adopt new requirements to the capital of insurance companies, functioning in Azerbaijan, said Finance Minister Samir Sharifov.
10 July 2008 [15:22]

President of Azerbaijan takes part in opening of overpass and tunnel in Baku

President of Azerbaijan Ilham Aliyev has today taken part in the opening ceremony of an overpass and a tunnel in Baku, locating in the area of Excelsior hotel circles, reports Day.Az with reference to AzerTac.
10 July 2008 [12:19]

Azerbaijan ranking fourth for its insurance market among CIS states

Azerbaijan is ranking fourth by the volume of its insurance market, following Russia, Ukraine and Kazakhstan.
10 July 2008 [09:22]

Gas strategy of Baku city worked out

The gas strategy of the country's capital for period until 2030 is being developed by instruction of the President of Azerbaijan.
09 July 2008 [14:46]

Retail trade turnover rises 14.9% in Azerbaijan through six months of 2008

The retail trade turnover has risen 14.9% in Azerbaijan in January-June of 2008, as compared to the same period of the last year, making up 4,956,600,000, said a source from the State Statistical Committee of Azerbaijan.
09 July 2008 [11:27]

Kamal Ibrahimov: "Conduction of international insurance forum in Baku proves interest of investors in our insurance market"

Association of Azerbaijani Insurers under support of the country's Ministry of Finance is arranging the first Azerbaijani international insurance forum to be held in Baku on July 10-11 of this year.
09 July 2008 [10:04]

Azerbaijan-Israel business forum held in Baku

The Azerbaijan-Israel business forum, organized by the Israeli embassy to Azerbaijan and Azerbaijan export and investments promotion foundation (AZOPROMO) under support of Azerbaijan's Economic Development Ministry was held in Baku.