Business

28 April 2009 [15:02]

Azerbaijan, Netherlands agree about joint work in labor protection

Labor inspection under the Ministry of Labor and Social Protection of Azerbaijani Population launched joint project with Netherlands international consultative group "TNO - quality of life", inspection head Nabi Shukurlu said at the conference dedicated to labor protection day - April 28.
28 April 2009 [14:52]

Azerbaijan, Cuba to enhance economic cooperation

Prospects of Azerbaijan-Cuba economic cooperation will be discussed during Cuba's governmental delegation's visit to Azerbaijan in mid-May.
28 April 2009 [14:40]

Azerbaijani, Estonian tax agencies lay new basis for cooperation

The Azerbaijani Ministry of Taxes and the Estonian Taxes and Customs Board signed the memorandum on cooperation. The document was signed by Azerbaijani Minister of Taxes Fazil Mammadov and director general of the Estonian Taxes and Customs Board Enrico Aav in Baku.
28 April 2009 [14:04]

Azerbaijan Republic Ministry of Economic Development started to prepare the Action Plan to hasten the country’s development

Azerbaijan’s Minister of Economic Development held the meeting on implementation of presidential instructions given at the governmental session devoted to the results of country’s socio-economic development in the first quarter 2009.
28 April 2009 [12:22]

Azerbaijan significantly increased export potential: SOCAR

About 120,000 barrels of oil is transported via Azerbaijan per day, 40,000 barrels of which accounts for Tengia field of Kazakhstan, SOCAR Marketing and Economic Operations Department Head Nuru Guliyev said at a third Caspian Oil and Gas and Trade and Transport conference in Baku.
28 April 2009 [12:12]

Azerbaijan to adopt Germany’s experience when introducing actuarial settlement system in pension system

The Azerbaijan State Social Protection Fund (SSPF) delegation has completed its five-day visit to Germany.
28 April 2009 [12:10]

Iran offers new option for Caspian oil exports

Iran has offered the Caspian states to transport part of their crude oil exports to the world markets through the Indian Ocean via a pipeline linking Iranian Ports of Neka to Jask, Jaleel Salari, Iranian Oil Company (NICO) corporate planning officer, told APA-ECONOMICS.
28 April 2009 [11:35]

Azerbaijan’s raw materials allow production of 7-8 million tons of cement a year and decline from its import

The Ministry of Environment & Natural Resources of Azerbaijan has new prospective areas in the course of geological prospecting and survey works nearby southern slope of the Greater Caucasus, in the Minor Caucasus and Nakhchivan Autonomous Republic.
28 April 2009 [11:26]

Implementation of Shah Deniz -2 in Azerbaijan depends on gas transit via Turkey: StatoilHydro Azerbaijan

The issue of gas transit via Turkey and fuel supply to Europe must be solved as a part of the Shah Deniz-2, Statoil Hydro Azerbaijan Vice President for Gas Olav Skalmeras said.
28 April 2009 [10:57]

Azerbaijan imposes ban on import of animal products from America

On April 27, Azerbaijan imposed ban on import of cattle-breeding products from the entire American continent, Azerbaijani Agricultural Ministry Veterinary Service spokesperson Yolchu Khanvali said.
28 April 2009 [08:57]

Baku Interbank Currency Exchange turnover on SWAP deals exceeded $212 million

Turnover of swap deals period concluded at the Baku Interbank Currency Exchange (BBVB) keeps on growing.
27 April 2009 [14:55]

SOFAZ's assets hit $11bln: head of fund

The revenues of the State Oil Fund of Azerbaijan (SOFAZ) hit 13.492 billion manat and expenditures - 1,398,700,000 manat in the first quarter of 2009, SOFAZ executive director Shahmar Movsumov said in a press conference.
27 April 2009 [14:38]

WB corrects loan agreement on railroad project in Azerbaijan

WB has agreed with the Azerbaijani government about changes in the loan agreement on Azerbaijani railroad transit and trade.
27 April 2009 [14:06]

Baku to host 16th International Caspian Oil and Gas Exhibition Incorporating Refining and Petrochemicals

The largest oil and gas exhibition and conference in the Caspian region, ‘Caspian Oil and Gas Exhibition Incorporating Refining and Petrochemicals’ will take place from 2nd to 5th June in the Azerbaijani capital, Baku.
27 April 2009 [13:45]

Head office of “MuganBank” OJSC moves to a new building

The head office of “MuganBank” OJSC has moved to a new building, according to Day.Az.
27 April 2009 [13:36]

Azerbaijan, Greece to discuss energy cooperation

Greek Deputy Foreign Minister Miltiadis Varvitsiotis will visit Baku on May 12-13. The meeting will focus on energy, economic and political cooperation, the Greek embassy in Baku said.
27 April 2009 [13:30]

Online reservation system necessary for tourism development in Azerbaijan

Reports of international experts on tourism development in Azerbaijan were heard at the international conference on prospects of eco-tourism in Azerbaijan.
27 April 2009 [12:15]

Cost of Azerbaijani Shah Deniz project determined: minister

The second stage of development of the Shah Deniz gas-condensate field costs roughly $16-20 billion, Azerbaijani Industry and Energy Minister Natig Aliyev said at the third Caspian oil and gas trade-transport conference in Baku on April 27.
27 April 2009 [11:06]

Statements on environmental threats of Trans-Caspian energy project groundless: minister

Azerbaijan's contemporary energy policy is an important party of the country's foreign and domestic policy.
27 April 2009 [10:56]

Igdir Governor Saffet Karahisrali: Construction of Igdir airport will have a positive influence on relations with Azerbaijan

“The construction of airport in Igdir is a very important issue for the province”, Governor Saim Saffet Karahisarli told APA.
27 April 2009 [10:31]

Presentation Caspian Gas at the Crossroads was made at the Columbia University

Presentation entitled Caspian Gas at the Crossroads was made at the Columbia University's Center for Energy.
27 April 2009 [09:56]

Georgian-Azerbaijani business forum postponed

The Georgian-Azerbaijani business forum planned to be held in Tbilisi on April 27-29 has been postponed.
25 April 2009 [11:13]

President of Turkmenistan discussed prospects of cooperation in oil and gas sector with SOCAR

President of Azerbaijan Gurbangulu Berdimukhamedov received in Ashkhabat SOCAR Rovnag Abdullayev Friday, reports Novosti-Azerbaijan with reference to the press service for SOCAR.
25 April 2009 [08:42]

MP: Oil price will not be changed in the state budget of Azerbaijan

Milli Mejlis will make amendments and annexes to the laws on the State Budeget in 2009.
24 April 2009 [14:13]

Number of Nar Mobile’s GPRS roaming partners continues to increase

Nar Mobile has concluded the next GPRS roaming agreements with a number of countries of the world.
23 April 2009 [17:45]

Cut in consumer inflation continues in Azerbaijan

In March 2009, prices on consumer goods and tariffs on services decreased by 0.7 percent from February 2009 and increased by 8.3 percent from March 2008, Azerbaijan State Statistics Committee said on Apr. 23 19.
23 April 2009 [17:30]

Gas production increases in Azerbaijan in Jan-March

Azerbaijan produced around 11.4 million tons of oil and condensate in January-March, a 3.1-percent decrease from the same period in 2008, the State Statistics Committee said.
23 April 2009 [17:10]

IT production ups in Azerbaijan

In January-March 2009, the IT production and IT services hit 208.5 million manat (increase 3.9 percent), the State Statistics Committee of Azerbaijan reported.
23 April 2009 [17:05]

SOCAR to start exploratory drilling on perspective field in Caspian Sea in May

The State Oil Company of the Azerbaijani Republic (SOCAR) will start exploratory drilling on a perspective gas condensate Umid field in the Azerbaijani section of the Caspian Sea in May, a source from SOCAR said.
23 April 2009 [17:01]

SOCAR to launch platform in giant offshore field

The State Oil Company of Azerbaijan Republic (SOCAR) will put a new platform (No. 2415) into exploitation in the giant offshore Neft Dashlari field in the Azerbaijani sector of the Caspian sea soon, the company said.
23 April 2009 [15:54]

Central Bank of Azerbaijan, EBRD discuss cooperation perspectives

Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov and the European Bank for Reconstruction and Development Director on Financial Institutes and Private Stakes Nick Tesseyman discussed importance and perspectives of cooperation, the CBA said.
23 April 2009 [14:16]

UAE, Azerbaijan to cooperate on Baku-Tbilisi-Kars project

A Memorandum on cooperation in transport between Azerbaijan and the United Arab Emirates (UAE) envisages bilateral cooperation between the two countries in motor, air and railway transport, a source at the Azerbaijani Transport Ministry said on April 23.
23 April 2009 [13:56]

Azerbaijani oil prices down on Apr. 22

On Apr. 22 the price of AZERI LT CIF Augusta was $49.08 per barrel, or $0.35 per barrel down, compared to the previous day's price, according to the State Oil Company of Azerbaijan (SOCAR), which has produced Light Oil since 1997.
23 April 2009 [09:18]

Azerbaijan's successful policy ensured stabile socio-economic development: President Ilham Aliyev

New period of economic development began in Azerbaijan in 2009, AzTV television channel quoted Azerbaijani President Ilham Aliyev as saying at the Cabinet of Ministers meeting on results of socio-economic development in Q1 of 2009.
22 April 2009 [17:27]

WB mission in Baku

A World Bank mission on the Azerbaijan real estate registration project has arrived in Baku.
22 April 2009 [15:51]

Suspension of night flights not to affect cost of tickets or number of passengers: AZAL deputy president

Suspension of night flights in the Heydar Aliyev International Airport will not affect the cost of tickets or number of passengers, the Azerbaijan Airline Company (AZAL) first Deputy President Sabir Ilyasov said.
22 April 2009 [14:48]

SOCAR explores sea depth in several perspective fields in Caspian

The State Oil Company of the Azerbaijani Republic (SOCAR) explores soil stability in sea depth in perspective gas condensate areas of Umid and Babek fields, a source from SOCAR said.
22 April 2009 [14:29]

SOCAR to finish constructing new compressor station in Caspian Sea

The State Oil Company of Azerbaijan Republic (SOCAR) will finish constructing a new compressor station in Guneshli field in mid-summer 2009, SOCAR Vice President on Ecology Mukhtar Babayev said on April 22.
22 April 2009 [14:18]

Russia must offer maximum high price for Azerbaijani gas: Interview with head of Russian Gas Association

Russian Gas Association President Valery Yazev spoke with Trend Capital in an exclusive interview.
22 April 2009 [14:14]

Azerbaijani National depository center divulges March activity

The Azerbaijan National Depositary Center (NDC) signed three agreements to preserve securities and register stakes of joint-stock companies in March, the center reported on April 22.
22 April 2009 [11:34]

Azerbaijan to attend summit on gas security of European states

The summit on "Natiral gas of European countries: security and cooperation" will be held in Sophia (Bulgaria) on April 24-25 of this year, said sources in the Ministry of Industry and Energy, according to Novosti-Azerbaijan.
21 April 2009 [16:57]

EBRD delegation to arrive in Baku

A delegation led by Nick Tesseiman, head of the EBRD financial departments, will arrive in Baku on April 22, according to AzerTac.
21 April 2009 [13:56]

Azerbaijan develops methodology to assess real estate

The Azerbaijan State Real Estate Register Service finishes developing a methodology to assess real estate, state service head Arif Garashov said on April 21.
21 April 2009 [09:49]

WB determines highway project in Azerbaijan under privileged financing

The World Bank (WB) has determined a highway project in Azerbaijan, to which bank will invest privileged credit in the sum of $63 million in 2009, the WB Baku office said.
21 April 2009 [09:37]

Baku conference of heads of OIC law enforcement agencies starts

The conference of heads of law enforcement agencies of the Organization of the Islamic Conference (OIC) participating countries started in Baku on April 21.
21 April 2009 [09:30]

Minister of Agriculture: Global financial crisis has not affected the agrarian sector of Azerbaijan

The government will take due steps if cheap agricultural products imported to Azerbaijan from other countries have a negative impact on domestic production, said Azerbaijani Minister of Agriculture Ismet Abbasov.
20 April 2009 [16:33]

MP: Our regional program has proven once again that consequences of global crisis are not threatening to Azerbaijan's economy

Our regional program has proven once again that the consequences of global crisis are not threatening to Azerbaijan's economy, said Hadi Recebli, chairman of the committee of social policy of Milli Medjlis.
18 April 2009 [11:40]

Political support can be guarantee for success of Nabucco gas pipeline: CERA

Cambridge Energy Research Associates (CERA) analysts say despite its commercial challenges, the Nabucco pipeline could overcome the problems or be built for political reasons based on the perceived demands of European energy security.
18 April 2009 [11:31]

Toshiba launches talks with Azerbaijani telecommunication company

Toshiba Japanese firm launched negotiations with Delta Telecom local telecommunication company to deliver its new notebooks supporting WiMAX mobile network on the Azerbaijani market, manager on Toshiba Europe partners Igor Zhitski said on April 17.
17 April 2009 [12:26]

Latvia offers joint dairy production to Azerbaijan: AZPROMO head

Latvian businessmen offered joint dairy production to Azerbaijan, Azerbaijan Export and Investment Promotion Fund (AZPROMO) President Rahim Huseynov said at the Azerbaijani-Latvian business-forum on April 17.
17 April 2009 [11:58]

Export from Azerbaijan to Latvia increases 1/3: foreign minister

In 2008, the export from Azerbaijan to Latvia reached 30 percent, and from Latvia to Azerbaijan increased twice, Latvian Foreign Minister Maris Riekstins said at the Azerbaijani-Latvian business-forum in Baku.
16 April 2009 [12:14]

Over 1bln barrel of oil produced in Azeri-Chirag-Guneshli field: BP

A total of 1 billion barrels of Azeri Light was produced from the Azeri-Chirag-Guneshli (ACG) field of the Caspian section, which is developing by the Azerbaijan International Operation Company (AIOC) under BP's operator.
16 April 2009 [10:10]

Kazakhstan expects Azerbaijan's decision on grain price

Kazakhstan expects the decision of Azerbaijan on the price of grain, said the managing director on commercial affairs of Food Contract Corporation, Daulet Uvashev.
15 April 2009 [15:54]

EBRD to confirm to Azerbaijani government its readiness to continue long-term cooperation

EBRD business group director on Southern and Eastern Europe, Caucasus and Central Asia Olivier Decamp will pay one-day visit to Baku today to confirm EBRD's long-term cooperation policy to the Azerbaijani government.
15 April 2009 [11:28]

Azneft raises gas extraction in 2009

Azneft (SOCAR structure on oil and gas production) produced 1.904,085,000 cubic meters of gas, which is 1.5% growth over 2009, sources in SOCAR report, according to Interfax-Azerbaijan.
15 April 2009 [09:30]

WB works to improve state of city transport in Baku

A seminar on improvement of the state of the city transport is held in Baku under support of the World Bank, according to the WB Baku representative, Novosti-Azerbaijan reports.
15 April 2009 [09:17]

The first stone laying ceremony to build a new and large cement plant shows the increasing interest of foreign investors to Azerbaijan particularly in this situation of crisis: President of Azerbaijan

The speech of President of Azerbaijan Ilham Aliyev during the first stone laying ceremony to build the Garadagh cement plant.
14 April 2009 [17:14]

WB given go-ahead to sign agreement on railway project in Azerbaijan

Azerbaijani President Ilham Aliyev has approved signing of a loan agreement with the World Bank on the project on assistance to transit via railway and trade worth $673.8 million, World Bank Baku office head Gregory Jedrzejczaksaid.