Business

11 November 2005 [14:46]

Starting 2005 gas production will increase by 2,5 milliard cubic meters per year

According to the State Program on increasing oil and gas production during 2005-2010, gas produced till 2010 is expected to increase by 2,5 milliard cubic meters every year.
10 November 2005 [17:41]

Natig Aliyev admits that oil transportation through BTC may be delayed

"We are trying to complete all work related with the Baku Tbilisi Ceyhan (BTC) till the end of the year," said the President of the State Oil Company of Republic of Azerbaijan (SOCAR) Natig Aliyev.
10 November 2005 [14:23]

SOCAR will stop buying gas from Russia if it increases prices for it

"If Russia raises the price of gas sold to Azerbaijan, we will refuse buying gas from this country," said the president of the State Oil Company of the Azerbaijan Republic (SOCAR) Natig Aliyev.
10 November 2005 [12:49]

Ministry of Finance held an auction for short-term state loans

Auction on additional placement of short-term state loans with the registration number 10201608S of the Ministry of Finance was held in the Baku Stock Exchange (BSE).
10 November 2005 [12:46]

World Bank has allocated $650 million to Azerbaijan

World Bank has allocated $650 million to our country for implementation of projects so far.
09 November 2005 [20:19]

25 Azeri companies will participate in business forum in Hungary

Azerbaijani delegation plans to participate at business-forum that will be held in Budapest, Hungary on November 22.
09 November 2005 [13:42]

Transportation Ministry gets busy reparing roads in Azerbaijan

The Ministry of Transportation informs that it plans to spend 150 billion manats on a reconstruction of roads next year.
09 November 2005 [13:37]

Distribution of insurance certificates will be over by April 1, 2006

250 thousand insurance certificates have been brought from Turkey to be distributed among citizens working in Azerbaijan.
09 November 2005 [13:31]

Government of Azerbaijan will start rebuilding Baku-Guba highway according to all modern standarts

Next year the Ministry of Transportation will start the renovation of Baku-Guba highway.
09 November 2005 [13:16]

Milli Majlis will discuss new draft of "On labor pensions" law

New draft of law "On labor pensions" will be discussed at the first session of Milli Majlis after the elections.
09 November 2005 [13:08]

IFC mission comes to Baku to negotiate contract with Azerbaijani government

According to APA news agency on November 29 an International Currency Foundation (ICF) Mission will visit Baku.
08 November 2005 [20:10]

Azerbaijan government and IBRD will implement second stage of SCADA project

The government of Azerbaijan and the International Bank for Reconstruction and Development [IBRD, a structure of the World Bank] signed a credit agreement on November 8 in Baku for implementation of the second stage of the SCADA introduction project, which will enhance reliability and the quality of the power supply and the industrial objects.
08 November 2005 [20:06]

Russia will open trade representation in Azerbaijan

"Russia plans to open a trade representation in Azerbaijan. The body will be established by the Economic Development Ministry," Intigam Husseynov, the head of the Azerbaijan-Russian Chamber of Business Cooperation, told Trend.
08 November 2005 [16:53]

Azerbaijan's oil export will rise by 61 percent in 2006

"Azerbaijan’s oil exports are predicted to jump 61 percent up compiling 22.3 million tons in 2006," informs Baku office of BP.
08 November 2005 [13:57]

Azerbaijani delegation will participate at the 42nd meeting of Board of Railway Transport of CIS and Baltic States

The delegation of Azerbaijan State Railway Office (ASRO) will attend the 42nd meeting of Board of Railway Transport of CIS and Baltic States that will take place in Ashgabat on November 22-24.
08 November 2005 [13:36]

"Aztelecom" goes wireless

"Aztelecom" Production built ATS of CDMA (wireless communication) technology to accelerate the process of providing Apsheron with telephones.
08 November 2005 [13:33]

SOCAR paid 261.6 billion manats in taxes

The State Oil Company of Azerbaijan Republic paid 261.6 billion manats of tax to the state budget instead of planned 246.5 billion manats.
05 November 2005 [13:31]

Delegation from Azerbaijan will participate in the 4th conference of CAREC

The President of the Asian Development Bank (ADB), Kharokhiko Kuroda starts his 8-day official tour of the Central Asia on Saturday. He will meet with the Presidents and governmental representatives to discuss the aid program of the ADB and importance of regional cooperation for further development of the Central Asian countries and poverty reduction, the Baku representation of the Bank told Trend.
05 November 2005 [13:02]

ADB and the Ministry of Transportation of Azerbaijan meet to discuss the East-West project

A mission of the Asian Development Bank is on the visit to Azerbaijan to discuss the East-West transport project.
04 November 2005 [16:35]

Inspections show that Azpetrol concealed its profits from taxation

The Ministry of Taxes and Baku city Taxes Department continue with the extraordinary mobile tax inspections at facilities belonging to the "Azpetrol" group of companies. However there are known some preliminary results of the inspections that show that the company was hiding some of its profits.
04 November 2005 [12:51]

SOCAR extracts 101,6 percents more of oil than was expected

754.6 thousand tons of oil were extracted in the country last month though it was predicted to be 743.0 thousand tons.
03 November 2005 [16:53]

Income in communication sphere increased by 32,9%

The press service of the Ministry of Communications and Information Technologies informs that in the period from January to September of 2005 income in the communications sphere increased by 32,9%.
03 November 2005 [16:49]

Aztelecom opens two new electronic automatic telephone stations in Gakh

Two new electronic automatic telephone stations for 512 and 256 telephone numbers have been opened in Gakhbash and Ilisu villages of Gakh district.
03 November 2005 [14:57]

Barmek will work in intensified regime on November 6-7

"Barmek-Azerbaijan Electricity Distribution" LLC is implementing necessary measures to avoid possible electricity problems during the November 6 parliamentary elections.
02 November 2005 [18:30]

Azerbaijan's Leasing Companies Association lobbies its interests in the Tax Code

A number of proposals from the Azerbaijan's Leasing Companies Association are reflected in the country's Tax Code.
02 November 2005 [15:49]

Azerbaijan posseses 6,5-7 billions tons of oil in its sector of the Caspian Sea

The Association of Geophysics and Engineering Geology of the State Oil Company of Azerbaijan published results of its recent researches.
02 November 2005 [15:37]

State Customs Committee fulfilled prognosis of ten months of the current year for 107,35 %

The State Customs Committee (SCC) superfluously fulfilled prognosis of ten months of the current year.
02 November 2005 [15:22]

Azeri-Chirag-Gunashli has more oil than it was believed it has

Oil supplies at Azeri-Chirag-Gunashli are bigger than they were predicted by earlier explorations.
02 November 2005 [15:14]

Russian company cuts down gas delivery to Azerbaijan

In the period from January to October 2005 Gasexport ltd, a branch company of Gasprom, has delivered 3.78 billions cubic meters of gas to Azerbaijan against 3.93 billion cubic meters over 10 month of 2004, Azeriqaz JSC told Trend.
02 November 2005 [15:04]

11-th International Exhibition "Healthcare -BIHE 2005" starts its work today

The 11-th International Exhibition «Healthcare -BIHE 2005” started on 2 November at the Heydar Aliyev Sports and Exhibition complex.
01 November 2005 [15:15]

Volume of communication services in Nakhchivan AR equals to 5728.3 millions manats

Communication establishments in the Autonomous Republic of Nakhchivan rendered services to the enterprises and organizations, as well as the population in the volume of 8189.1 millions manats for the last nine months of this year and it is 20.9% more in comparison with the corresponding period of the last year.
01 November 2005 [15:10]

3.5 millions barrels of oil are already loaded into BTC

More than 3.5 millions barrels of oil were loaded into the Baku-Tbilisi-Ceyhan pipeline and one third of it has been filled with oil.
01 November 2005 [14:09]

Currency flow in Azerbaijan increased for 1,3 percent

The volume of the money supply in circulation was 4193.7 billions manats on October 1 of the current year.
01 November 2005 [14:05]

Aztelekom sues 776 debtors

The "Aztelekom" Production Union of the Ministry of Communication and Information Technologies has brought a suit against 776 juridical and physical persons during this year.
31 October 2005 [18:50]

Azeri oil market: results of week

From 24 to 28 October URAL(EX-NOVO) average price, sold by Azerbaijan in Novorossiysk port, was $52.91 per barrel or dropped $0.47 barrel, or 0.9%, as compared the last week.
31 October 2005 [18:40]

10 thousands 321 money orders registered since the beginning of the year

Connection of the national post operator of Azerbaijan to the international electron money orders system (STEFI) with the assistance of the Ministry of Communication and Information Technologies is yielding its successful results.
31 October 2005 [14:15]

"Bakcell" decides to go big

The "Bakcell" Company in the frame of the “Let us change and develop” campaign is implementing works on expansion of its service coverage area in districts of Azerbaijan .
31 October 2005 [14:06]

SOCAR opens new well at Central Azeri oil field

New 8th well was put into operation in the Central Azeri field.
31 October 2005 [14:02]

Transportation flow powers up in Nakhchivan

Nakhchivan AR representation in Baku stated that for the last nine months 4946.7 thousands tons of freight and 30070.7 thousands passengers were transported by physical persons working in transportation sphere in the Nakhchivan Autonomous Republic.
31 October 2005 [14:01]

Prices of Azeri oil rise

"Azeri light" oil’s price went up for 1.70 dollars and became 61.30 dollars per barrel on the world market.
31 October 2005 [12:38]

New plane will operate on Baku-Kiev and Baku-Dubai routes

"The new “A-319” airplane brought to Baku on October 29 will be firstly used for flights to Dubai and Kiev," informed the deputy of general director of "AZAL" State Company, chairman of Coordination and Foreign Relations Office Arif Mammadov.
29 October 2005 [18:15]

Tariffs for usage of fiber optical communications in Azerbaijan will be lowered

"The Ministry of Communications and Information Technologies plans to lower tariffs for usage of fiber optical communications that were installed in the Republic within the Trans-Asia-Europe project," informed the Minister of Communication Ali Abbasov.
29 October 2005 [14:59]

The new Airbus jet is commissioned today in Baku

The ceremony of the second A-319 airbus commissioning that arrived in Azerbaijan took place at the Heydar Aliyev international airport in Baku on 29 October 2005.
29 October 2005 [11:42]

Assets of Bank Standard formed 479 milliard 4 million manats

The general volume of assets of Bank Standard formed 479 milliard 4 million manats during last 9 months. This is 93 milliard 266 million manats or 24 % more in comparison with the same period of the previous year. APA was informed about it from the Bank Standard.
29 October 2005 [11:36]

Auction on secondary placement of T-bills starts at Baku Stock Exchange on November 1

The auction on secondary placement of T-bills with the state registration number 10601508S will be held in Baku Stock Exchange (BSE) on from 11.00 till 12.30 on November 1, in accordance with the contract signed between the BSE and Finance Ministry.
29 October 2005 [11:34]

"Azercell" concluded roaming contract with “Nawras” operator of Oman

"Azercell Telecom" JE concluded a roaming contract with the "Nawras" operator of Oman.
28 October 2005 [23:20]

LUKOIL plans developopment of D-222 block in Azerbaijani sector of the Caspian Sea

In late 2005 the shareholders of the project on development of D-222 bloc in the Azerbaijani sector of the Caspian Sea will hold a meeting to discuss the further plan and work schedule informs Trend news agency.
28 October 2005 [22:03]

CIS countries approve agreement on forming of common electric power market

The members of the CIS Electric Power Council met in Tbilisi, Georgia on Friday, October 28 signing an agreement on common electric power market.
28 October 2005 [21:31]

"VISA International" has big plans for Azerbaijan

"VISA International" will implement several projects in Azerbaijan. Among them are implementation of Visa 3-D Secure Authentication technology and phone banking.
28 October 2005 [17:21]

Short-term notes of the National Bank go on sale at Baku State Exchange

An auction on placement of short-term notes of the National Bank with the 50100511S state registration number was held at the Baku Stock Exchange (BSE) today.
28 October 2005 [16:28]

Thirteenth session of the Black Sea Economical Cooperation Organization Council of Ministers starts tomorrow

The next 13 session of Black Sea Economical Cooperation Organization Council of Ministers [BSEC CM] will be held in Chisinau, Moldova tomorrow, October 29. Azeri delegation led by the deputy of the Minister of Foreign Affairs Mahmud Mammadguliyev will also attend the session.
28 October 2005 [13:36]

A direct flight will be opened soon from Baku to Madrid, Spain.

Press service of "AZAL" state airways informs that the flight will open somewhere in the midst of next month.
28 October 2005 [12:13]

Azeri, Georgian and Kazakh transportation chiefs will discuss TRASSECA perspectives in Aktau

A meeting of chiefs of transportation administrations of Azerbaijan, Georgia and Kazakhstan will be held in Aktau, Kazachstan on Friday, October 5 under the Europe-Caucasus-Asia transport corridor project.
27 October 2005 [21:02]

"Azeronline" replies ISPA and the war of Internet providers continues

The hot clashes between Azeri Internet providers continue while the Minister of Communication and Information Technologies tries to bring peace and equilibrium between the rivals.
27 October 2005 [17:57]

Second new Airbus will arrive in Baku tomorrow

Representatives of the AZAL State Airlines left Baku today and are on their way to France where they will receive the second airbus ?-319 manufactured by the Airbus Industries international air concern.
27 October 2005 [13:27]

Azeri oil prices rise

After moving downward the prices finally start to climb up.
27 October 2005 [12:57]

BP working hard to squeeze in the BTC schedule assigned by Natik Aliyev

The BTC construction works are at the final stage. "The oil will flow in Ceyhan late 2005," promise BTC executives.
26 October 2005 [19:01]

First Caspian International Information Communication Technologies Conference starts tomorrow

The first Caspian International Information Communication Technologies (ICT) Conference will be held in the frame of the 11th International Telecommunication and Information Technologies Exhibition on October 27.
26 October 2005 [14:50]

Insurance premium and payments increased for over one third

For the 9 months of the current year the premium of the Azerbaijan’s insurance companies constituted 346,35 billion AZM.
26 October 2005 [13:41]

First cargo for Astara Module Power Station has arrived in Baku

The first large equipment consignment for the Astara Module Power Station (MPS) arrived in a port of Baku from Finland.
25 October 2005 [19:09]

Azeri oil market: results of the week

From 17 to 21 October URAL(EX-NOVO) average price, sold by Azerbaijan in Novorossiysk port, was $53.38 per barrel or dropped $1.70 barrel as compared the last week.
25 October 2005 [17:20]

Azeri oil prices continue to drop

The price for AZERI LT CIF on 21 October was $57.90 per barrel (dropped $0.29 per barrel as compared to the previous price).
25 October 2005 [14:33]

SOCAR started drilling of new well on “Govsan” oil field

State Oil Company of Azerbaijan started drilling a new well on the “Govsan” oil field with a designed depth of 3700 meters. About 200 meters have been drilled alreadyby the moment. The daily average drilling speed is 50 meters.
25 October 2005 [14:23]

New tanker “Shah Ismayil” arrived in Baku bay

The “Shah Ismayil” tanker has already reached Baku. It is the third, tanker under a project 19619. Shah Ismayil Khatai was built at the Krasnoye Sormovo shipyard, in the regional city of Nizhniy Novgorod, Russia.
25 October 2005 [13:16]

Bayva Energy threatens to leave if its request will not be answered

“The request made to the Cabinet of Ministers by “Bayva Energy” Management Center on canceling its contract has not been replied yet”, said the chief of press and law service of “Bayva” Tahir Alirzayev.
24 October 2005 [18:39]

War of Azeri Internet providers temporarily is over

Internet Service Providers of Azerbaijan, declaring on October 20 a complete blockade of addresses belonging to Azeronline and stopping e-mail exchange with Azeronline, decided temporarily to stop it due to November 6 elections. They also announced an ultimatum to Azeronline promising to continue the blockade if Azeronline does not change its policy.
24 October 2005 [15:29]

Azeri Gaz Bank prospers with its assets reaching mark of 68,9 billions AZM

“Over the last nine months Azeriqazbank (AGBank) reached considerable increase of financial outputs,” says a press release of the bank. The assets of AGBank grew 69.8 billions manats and comprised 262.7 billions.
24 October 2005 [13:48]

French government ready to finance equipment of Ganja and Nakhchivan airports

The French government has voiced its readiness to finance a purchase of an equipment for airports in Ganja and Nakhchivan through approval of a loan for purchase of navigation devices.
24 October 2005 [13:45]

Flight Baku-Cairo to be established soon

Azerbaijan agreed with the proposal of Egypt on opening of new flight between two countries. The aggrement was achieved as a result of repeated meetings of Yusif Ahmad Al-Sharkavi, the Egyptian Ambassador to Azerbaijan, with the head of AZAL Air Lines Company.
24 October 2005 [11:31]

SOFAR’s funds expected to reach $63.4 billions by 2024

“Azerbaijan soon will turn into a rich country,” Samir Sharifov, the Executive Director of the State Oil Fund of Azerbaijan (SOFAR), said during the meeting of the Consultative Commission of the Extractive Industry Transparency Initiatives (EITI) recently held in Washington.
22 October 2005 [14:54]

Kazakh oil from Kashagan Project may flow through BTC by the end of the year

Azerbaijan and Kazakhstan are about to sign an agreement on Kazakhstan pumping its oil through the Baku-Tbilisi-Ceyhan pipeline.
22 October 2005 [13:42]

Some expenses increased in the state budget for the year 2006

“The expenses envisaged in the public budget for 2006 were increased on some spheres,” said Avaz Alakbarov, the Finance Minister on the Parliament’s Friday meeting.
22 October 2005 [13:33]

70 percents of apartments in Ganja city are supplied with new electricity meters

The process of installing new electric-meters in apartments and houses of Ganja inhibitants is implemented on 70 percents.
22 October 2005 [00:56]

Leasing portfolio in Azerbaijan equals $24,5 millions

This information was spread on October 20 in the press release of the Project of Leasing Development in Azerbaijan, implemented by International Finance Corporation (IFC – a group of World Bank)
22 October 2005 [00:27]

Over 100 companies will participate in the XI International Telecommunication and Information Technologies Exhibition

20.10.2005. BAKU. XI International Telecommunication and Information Technologies Exhibition will be held in Baku on October 26-29.