Business

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.
14 April 2009 [16:15]

Azerbaijan ratifies bill on “Special economic zones”

The Azerbaijani parliament has ratified a bill on "Special economic zones" in the third reading on April 14.
14 April 2009 [11:43]

Tbilisi to host Azerbaijani-Georgian business forum

Tbilisi will host Azerbaijani-Georgian business forum later this year, said sources in the Export and Investment Promotion Foundation of Azerbaijan under the Ministry of Economic Development, according to Novosti-Azerbaijan.
14 April 2009 [10:37]

1021 foreigners permitted to work in Azerbaijan in 2009

1021 foreigners received an individual permission for working in Azerbaijan in January-March of 2009, said spokesman for the Ministry of Labor and Social Protection of population Elnur Kalantarov.
13 April 2009 [12:36]

6 carriages load of oil come off rails in Azerbaijan

6 carriages came off rails on Hajiqabul railway station at 12:30 yesterday, according to the press service for the Interior Ministry of Azerbaijan.
13 April 2009 [09:33]

Turkey's energy and natural resources Minister: Turkey and Azerbaijan have no gas crisis

Turkey's Minister of Energy and Natural Resources Hilmi Guler announced that Turkey and Azerbaijan has no problems, related to natural resources, reports Turkish Cihan news agency.
13 April 2009 [09:05]

New energy supply routes may give a ‘strong impetus’ to CIS economy: Turkmen President

New pipeline routes for energy sources can give a 'strong impetus' to the economies of the CIS member states including producer countries, buyer and transit countries, local media quoted Turkmen President Gurbanguly Berdimuhammedov as saying.
10 April 2009 [16:39]

SOCAR and foreign companies deliver 3.1 bln cubic meters of gas to Azerbaijan this year

In March of 2009 Azerbaijani state received 1,080,690,073 cubic meters of natural gas.
10 April 2009 [12:35]

Chairman of state statistical committee: Drop in prices recorded in Azerbaijan in March

The reduction in prices was observed in Azerbaijan in March as compared to February, while deflation through a month made 0.7%, said chairman of the State Statistical Committee Arif Veliyev at a press conference today.
10 April 2009 [11:31]

We do not plan to invest into securities: chairman of IBA-Moscow Fuad Abdullayev

Since the very start we have been too conservative about investments into securities, said chairman of the IBA-Moscow board Fuad Abdullayev in his interview to Day.Az, speaking about the interest of IBA-Moscow in investment to securities.
09 April 2009 [16:22]

Over 400 delegates to attend second session of Azerbaijan's Entrepreneurs Confederation

The second session of the National Confederation of Entrepreneurs (Employers) of Azerbaijan will be held in Baku April 31.
09 April 2009 [14:17]

Ukrainian President arrives on official visit to Azerbaijan

President of Ukraine Viktor Yushchenko has arrived on a two day official visit to Azerbaijan, according to the press service for the Ukrainian embassy to Azerbaijan.
09 April 2009 [13:09]

Azerbaijani Finances Ministry for cut in direct tax rates

The Azerbaijan Finances Ministry is for cut in direct tax rates. Along with profit tax they propose to reduce maximal income tax rate, which is currently 35 percent, Income Tax Policy Department Director Jamil Alizade said on Apr. 8.
09 April 2009 [11:53]

Azerbaijan is ready to export electricity: Azerenergy vice president

Azerbaijan will have surplus of 1,000 megawatt-power by late 2009, Azerenergy Joint Stock Company (JSC) (electricity producer in Azerbaijan) Vice President Marlen Asgarov told Trend Capital.
09 April 2009 [09:22]

Ceyhan port ships 2.9 mln tons of Azeri oil in March

In March of 2009 the BTC pipeline transported 3.1 mln tons of Azeri oil.
09 April 2009 [09:11]

USAID and Azerbaijan's Finance Ministry sign memo of mutual understanding on joint financing

USAID and Azerbaijan's Finance Ministry have signed a memo of mutual understanding on joint financing, according to the press service for the US embassy to Azerbaijan.
08 April 2009 [15:40]

U.S. ups oil import from Azerbaijan

In January 2009, the United States imported 2.1 million barrels of oil from Azerbaijan compared to roughly 1.9 million barrels in the same period of 2008, the U.S. State Energy Information Agency (EIA) reported.
08 April 2009 [10:47]

Azerbaijan interested in studying Lithuania's experience on integration with European structures

Azerbaijan attaches special importance to the development of bilateral cooperation with Lithuania in the political, economic, cultural and humanitarian spheres.
08 April 2009 [09:07]

Baku hosts Azerbaijani-Lithuanian business-forum

The Azerbaijani-Lithuanian business forum was held in the capital of Azerbaijan- Baku under support of the Azerbaijan Economic development ministry on April 7, according to the press service for the Ministry of Economic Development.
06 April 2009 [17:38]

Azerbaijan saves deposits in safety currency: minister

Additional deposits to economy of countries are necessary in terms of global financial crisis, Azerbaijani Finance Minister Samir Sharifov said at discussions on the Public Television.
06 April 2009 [14:59]

U.S. must further support Azerbaijan to diversify energy supply

The United States must continue supporting Azerbaijan to diversify its energy supplies, New Mexico State Governor Bill Richardson said.
06 April 2009 [14:21]

President of Azerbaijan attends opening of new tunnel in Baku

President of Azerbaijan Ilham Aliyev attended the opening ceremony of a new tunnel at the junction of the avenue of Heydar Aliyev and Agha Neymatulla street, according to the official website of the President of Azerbaijan.
06 April 2009 [10:35]

Bridge to be built over Samur river on Azerbaijani-Russian border

The Russian government has supported Azerbaijan's initiative on construction of a bridge over the Samur river, according to Azerbaijani Transport Minister Ziya Mamedov, Novosti-Azerbaijan reports.
06 April 2009 [09:26]

Azerbaijani-Lithuanian business forum to be held in Baku

The Azerbaijani-Lithuanian forum will be held in the capital of Azerbaijan-Baku on April 7-8, according to AzerTac.
06 April 2009 [08:46]

Azerbaijan International Bank becomes most stable credit institution in Europe amidst global financial crisis

Board of Directors of the Brussels-based European Economic Chamber of Trade, Commerce and Industry (EEIG) announced the Azerbaijan International Bank (AIB) as the most stable credit institution in Europe amidst global financial crisis, AIB told APA-ECONOMICS.
04 April 2009 [10:29]

OFID considers cooperation in non-oil sector of Azerbaijan

The Azerbaijani Ministry of Economic Development suggested the OPEC Fund for International Development participating in financing of projects implemented through the Azerbaijani Investment Company and the National Entrepreneurship Support Fund, the Ministry said on April 3.
03 April 2009 [13:18]

Lithuanian Trade House to be opened in Baku: ambassador

Lithuanian Foreign Minister Vigaudas Ushatskas will open Lithuanian Trade House in Baku, Lithuanian Ambassador to Azerbaijan Kestutis Kudzmanas told Trend News on April 3.
03 April 2009 [10:30]

British companies ready to assist in supplies of Azerbaijani agricultural production to world markets

A meeting with delegations of the British companies Oxfham and Unilever was held in the standing commission on agrarian policy of Milli Medjlis, according to the press service for Milli Medjlis.
03 April 2009 [10:23]

President of Azerbaijan receives delegation led by director general of OPEC fund for international development

President Ilham Aliyev received a delegation led by Suleiman Al-Herbish, Director General of OPEC Fund for International Development. Suleiman Al-Herbish spoke about meetings he held in Baku.
02 April 2009 [17:10]

It is two years since the commercial launch of Nar Mobile

Nar Mobile has 20% market share in local GSM market by gaining tremendous achievements within the short period of time.
02 April 2009 [15:25]

Caspian littoral countries’ transport ministers meet in Baku - UPDATED

The first session of the Transport Ministers of the Caspian states in Baku ended in signing a final communique, Transport Minister of the country Ziya Mamedov told reporters.
02 April 2009 [12:13]

Azerbaijan's non-oil sector grows 14% this year

Azerbaijan's non-oil sector grew 14% within two months of this year, said head of the administration of the Ministry of Economic Development Samir Veliyev, according to Novosti-Azerbaijan.
02 April 2009 [09:35]

Azerbaijan is among countries least affected by global financial crisis: Finance Minister

"Azerbaijan is among the countries least affected by financial and economic crisis not only in the CIS area but also in the world, said Finance Minister of Azerbaijan Samir Sharifov, according to AzerTac.
01 April 2009 [08:59]

Russian Finance Minister: "The global crisis was felt least in Azerbaijan, where volume of investments and economy are growing"

CIS states should allot from 1 to 3% of GDP for support of banking sector, said Finance Minister of Russia Alexi Kudrin at a meeting with Finance Ministers of the CIS states, according to Reuters.
31 March 2009 [17:30]

Inflation drops 5.4% in Azerbaijan February

Sources from the National Bank report that in February inflation on Azerbaijan made 10.3%, according to AzerTac.
31 March 2009 [15:44]

Vagif Sharifov: "Europe should hurry with Nabucco"

Today Nabucco project is actively discussed and spoken of in most countries and its advantage is that it will establish competitive prices on gas, said economic expert Vagif Sharifov.
31 March 2009 [12:40]

Baku hosts Azerbaijani-German business forum

Baku is hosting a business forum on March 31, bringing together Azeri and German businesspeople with support from Azerbaijan’s Ministry of Economic Development and Azerbaijan Export and Investment Promotion Foundation (AzPromo).
31 March 2009 [09:19]

Azerbaijan to attend session of Council of Business women under OEC Trade and Industrial chamber

Azerbaijan will be represented in the first session of Council of Business women of OEC Trade and Industrial chamber, according to Turkish ANKA news agency.
30 March 2009 [17:20]

Azerbaijan, France interested in continuing agricultural projects

Azerbaijan and France are interested in enhancing cooperation in the agricultural sector, Azerbaijani Deputy Agriculture Minister Bahram Aliyev said.
30 March 2009 [17:19]

Azerbaijan, Korea to launch rice production

Azerbaijan together with Korean specialists will begin production of rice in Shaki region.
30 March 2009 [14:38]

Russia accounts for 17% Azerbaijani import since early this year

Through two months of this year Russia accounted for 17% of Azerbaijani import, sources in the State Customs Committee told Novosti-Azerbaijan.
30 March 2009 [14:01]

Oil products share in Azerbaijan's export makes 10.2% since early this year

Through two months of this year the share of oil products in the overall volume of Azerbaijani export made 10.2%, sources in the state customs committee told Novosti-Azerbaijan.
30 March 2009 [13:20]

Memo of understanding signed between Gazprom and SOCAR

A work meeting of the chairman of Gazprom Alexei Miller and president of the State Oil Company of Azerbaijan Rovnag Abdullayev was held in Moscow.
30 March 2009 [13:01]

Musa Panakhov: "Execution of the idea of a bridge via Baku bay should be expected no earlier than the coming five years"

The transport Ministry continues implementation of all the projects, launched in the past years, said deputy Minister of Transport of Azerbaijan Musa Panakhov.
30 March 2009 [12:14]

Azerbaijan-Kuwait investment company launched

The authorized capital stock of the Azerbaijan-Kuwait Investment Company (KAIC) will reach 20 million manat in two years.
30 March 2009 [10:00]

Azerbaijani-German business forum to be held in Baku

Baku will host the Azerbaijani-German business forum on March 31, AzerTac reports.
29 March 2009 [16:41]

License of another securities market participant canceled in Azerbaijan

The Azerbaijan State Securities Committee (SSC) canceled the license of the Iron Investments Azerbaijan Ltd.