13 July 2006 [00:39]

Auction on placement of National Bank's short-term bonds held at BSE

An auction on placement of short-term bonds of National Bank with the state registration number 50102812S was held at Baku Stock Exchange.
13 July 2006 [00:37]

Working Group on Kars-Akhalkalaki-Tbilisi-Baku railway will meet in Tbilisi

Georgia side presented no confirmed document on Kars-Akhalkalaki-Tbilisi-Baku railway.
13 July 2006 [00:32]

Heydar Babayev: "Azerbaijan's interests will be defended at the Barmek's trial"

"All interests of Azerbaijan will be defended at the trial on Barmek-Azerbaijan Power Network LLC," Azerbaijani Economic Development Minister Heydar Babayev told journalists.
13 July 2006 [00:20]

Ziya Mammadov: "An ad hoc commission has been set up for abolishment of Transport Department and transfer of its authorities to the Ministry of Transport"

"An ad hoc commission has been set up for abolishment of Transportation Department under auspices of Baku Mayor' Office and transfer of its authorities to the Ministry of Transportation," Transport Minister, Ziya Mammadov told journalists.
12 July 2006 [16:21]

Smuggled freights from Azerbaijan seized in Georgia

Kvemo Kartli Investigative Department of Financial Police seized two lorries and two motorcars laden with unregistered products.
12 July 2006 [15:45]

Mariah Carey will perform at the BTC opening ceremony

Preparations related to official opening ceremony of Baku-Tbilisi-Ceyhan main oil pipeline, are in progress.
12 July 2006 [12:01]

AIOC tops oil output in 2006

Over 14.4m tons of oil was produced in Azerbaijan in the first half of 2006.
12 July 2006 [11:58]

Iran, Turkmenistan seek joining Caspian survey

Iran and Turkmenistan plan to join the environmental study on the Caspian Sea to be carried out late in 2006, the chairman of the Azeri Accountancy Chamber, Namig Nasrullayev, told journalists Tuesday.
12 July 2006 [03:49]

Business seminar on Azerbaijan to be held in South Korea

Business seminar on Azerbaijan's investment potential will be held in Seoul, capital of South Korea on July 18.
12 July 2006 [03:47]

Bank Standard CB's summary for Q2

As of end of the Q2, the total assets of the Bank Standard equalled AZN 158 058 000 or $176 482 000 which represents an increase by 60% or AZN 59 007 000 ($65 885 000) in comparison with late 2005.
12 July 2006 [03:45]

New owner of Khachmaz TV announced

Tender announced by the National Television and Radio Council on 43rd channel through which Khachmaz TV is broadcasting was over.
12 July 2006 [03:44]

Court of Appeal to review Barmek's case

Trial on complaint of Barmek Holding and Barmek Azerbaijan Power Network took place at Azerbaijan Economic Court on Conflicts Emerging from International Contracts.
12 July 2006 [03:35]

Deal of AZN 2.1m closed at BICEX

According to the results of the trading sessions in the currency section of the Baku Interbank Currency Exchange (BICEX) today, USD/AZN weighted average rate was AZN 0.8924/$1.
12 July 2006 [03:34]

Atabank offers SMS Banking Service

Atabank OJSC offers new SMS Banking Service to customers.
12 July 2006 [03:32]

Auction on placement of T-Bills of Finance Ministry to be held at BSE

An auction on placement of T-Bills of Ministry of Finance with the state registration number 10201813S will be held at Baku Stock Exchange on July 14.
12 July 2006 [03:21]

BP spent $3.5mn on BTC inauguration

BP has spent $3.5mn on the ceremony to be held in Ceyhan Port, Turkey, on the occasion of opening of Baku-Tbilisi-Ceyhan oil pipeline.
12 July 2006 [03:20]

Kazakh, Azeri Accounts Chambers sign agreement on bilateral cooperation

On Tuesday Azeri Accounts Chamber's chairman Namig Nasrullayev met with delegation led by head of Accounting Committee for Control over Execution of Republican Budget of Kazakhstan, Omarkhan Nurtayevich Oksikbayev.
11 July 2006 [18:35]

Draft agreement on Baku-Tbilisi-Akhalkalaki-Kars railway to be discussed

The draft agreement on Baku-Tbilisi-Akhalkalaki-Kars railway will be discussed July 13-14 in Tbilisi.
11 July 2006 [15:20]

Azerbaijan to supply Georgia with additional gas

Finally the Georgian government has cut a deal to receive extra natural gas from Azerbaijan.
11 July 2006 [15:14]

SOCAR, Target Petroleum, Firstdrill establish JV

Azeri state oil company, Canada's Target Petroleum and Scotland's Firstdrill Ltd. have signed an agreement to set up the joint drilling venture Azeri Drilling Company, Firstdrill said in a press release.
11 July 2006 [11:47]

Top Azeri delegation to attend BTC opening in Turkey

A top Azeri delegation headed by President Ilham Aliyev will arrive in Turkey on Tuesday to attend the July 13 ceremony of inaugurating the Turkish section of Baku-Tbilisi-Ceyhan, the main export pipeline taking Caspian oil to international markets, officials say.
11 July 2006 [01:30]

Elcell expands service

Elcell's Internet Services can already be used in all districts of Baku as well as Absheron.
11 July 2006 [01:28]

Kazakh delegation to visit Azerbaijan

Delegation led by head of Accounting Committee for Control over Execution of Republican Budget of Kazakhstan, Omarkhan Oksikbayev will pay an official visit to Azerbaijan July 10 to 12 at invitation of Azerbaijani Calculation Chamber.
11 July 2006 [01:26]

US$8.1mn-deal closed at BICEX

According to the results of the trading sessions in the currency section of the Baku Interbank Currency Exchange (BICEX) today, USD/AZN weighted average rate was AZN 0.8928/$1.
11 July 2006 [01:24]

Assets of UniBank CB rise by 50%

As of July 1, the assets of the bank rose by 75.35% in comparison with June 2005 and equalled AZN 96.8 mn, which represents an increase by 49.46% from 1 January 2006.
11 July 2006 [01:20]

Azerbaijani businessmen to attend business-forums to be held in Turkey, Iran, Rumania, Ukraine and the US

Azerbaijani Entrepreneurs' National Confederation plans to hold business-forums in Turkey, Iran, Ukraine and the US with participation of Azerbaijani businessmen.
11 July 2006 [01:02]

Excelsior Hotel to join AZAL Miles Program

Excelsior Hotel Baku and Azerbaijan Airlines concluded an agreement.
11 July 2006 [00:56]

BSE turnover forecasted to double this year

This year turnover of Baku Stock Exchange (BSE) is expected to double as against 2005.
11 July 2006 [00:53]

New Yamaha motorbikes to be brought to Azerbaijan

Azerbaijani Improtex Marine&Sport Facilities will bring new models of Yamaha motorbikes to Azerbaijan in a week.
11 July 2006 [00:52]

Bank Respublika's offices opened in Ganja and Khachmaz

Offices of Bank Respublika JSC were opened in Ganja and Khachmaz.
10 July 2006 [21:11]

Azerbaijan looks to Texas researcher for answers

Dr. Charlie Rush is using knowledge gained in the sugar beet fields of the Panhandle to help the Republic of Azerbaijan, formerly a part of the Soviet Union, build economic stability.
10 July 2006 [20:16]

BTC pipeline is welcome relief to trim Turkish Straits traffic

The inauguration on Thursday of the Baku-Tbilisi-Ceyhan (BTC) pipeline – a new route to supply oil to the West – will help reduce tanker traffic through the Turkish Straits, but is far from resolving the often hazardous congestion of the two narrow waterways.
10 July 2006 [20:12]

LUKoil to build refinery in Turkey

Russian firm LUKoil, one of the world's largest energy companies, is planning to build an oil refinery in northern Turkey, the Turkish media reported Sunday.
10 July 2006 [16:40]

President Aliyev: "Azerbaijan may bring oil output to 60-65 mln tons in 2 years"

President Ilham Aliyev of Azerbaijan is positive that in the near future their country will be able to make investments in the economies of other countries.
10 July 2006 [16:09]

Communications Minister to visit US

Azerbaijani Communications and Information Technologies Minister Ali Abbasov to pay a working visit to the US on July 8-17 at invitation of USTDA.
10 July 2006 [16:08]

Azerbaijan-Kazakh business club to be established

The Caspian Integration Business Club and Caspian Energy International Publishing House have started establishment of the Azerbaijan-Kazakh Business Club under support of state structures and public organizations of Azerbaijan and Kazakhstan.
09 July 2006 [21:32]

WB experts to come Azerbaijan

Two World Bank's (WB) expert teams will come to Azerbaijan July 11 to monitor the process of implementation of the Bank-funded projects in the country.
09 July 2006 [21:27]

Azeri Ambassador to the UAE meets Dubai's official

The Director General of Dubai Department of Tourism and Commerce Marketing (DTCM), Mr. Khalid A bin Sulayem, received the ambassador of Republic of Azerbaijan to the UAE, Mr. Eldar Salimov, at the DTCM Head Office recently and reviewed bilateral ties and tourism industry developments.
08 July 2006 [23:28]

World Bank will allocate credits to Azerbaijan through various sources within next two years

World Bank is expected to finance projects and programs in Azerbaijan through various preferential and a bit severer sources within the forthcoming two fiscal years.
08 July 2006 [12:03]

Ceyhan ready to host inauguration of BTC

The preparatory work for the inauguration of the Baku-Tbilisi Ceyhan oil pipeline has been completed. A tent for 280 persons has been erected.
08 July 2006 [11:59]

2nd meeting of Azerbaijan-Ukraine working group

Some 20 Azerbaijani businessmen were present at the event.
08 July 2006 [10:03]

Standard Insurance doubles its authorized capital

Standard Insurance Broad of directors declared an increase of 100% in authorized capital.
08 July 2006 [10:01]

Azerenergy's claim against Barmek partially met

Barmek Azerbaijan Power Supply LLC president Huseyn Arabul issued a statement on the happenings around the company.
08 July 2006 [09:54]

Azercell concludes new roaming agreements

Azercell Telecom Joint Venture concluded roaming agreement with Panamanian Cable and Wireless Company to expand the number of its international roaming partners.
08 July 2006 [09:52]

US$2.2mn-deal closed at BICEX

According to the results of the trading sessions in the currency section of the Baku Interbank Currency Exchange (BICEX) on Friday, USD/AZN average weighted rate was AZN 0.8931/$1
08 July 2006 [09:51]

FDI magazine publishes two articles on Azerbaijan

In June-July section, fDi magazine (ForeignDirectInvestment) of Financial Times published two articles on Azerbaijan - Ancient bones and Azeri dreams and At the crossroads of commerce and cultures.
08 July 2006 [09:49]

Ministry of Culture and Tourism will regulate hotels by presidential decree

Azerbaijani President Ilham Aliyev signed a decree to make amendments to "Presidential decree September 2, 2002 on improvement of licensing some activities."
08 July 2006 [09:47]

Hajigabul region Ranjbar village residents will sue BP

20 families are going to sue Bp Company taking as base violation of their rights in the territory of Azerbaijan's Hajigabul region Ranjbar village Baku-Supsa Pipeline passes.
08 July 2006 [09:38]

Azeri businessmen to visit Chelyabinsk in September

A delegation of Azeri entrepreneurs will visit Chelyabinsk in September this year.
08 July 2006 [09:37]

IBA will use MIDAS and FlexCube software together

International Bank of Azerbaijan (IBA) will continue using MIDAS software by this year's end.
07 July 2006 [22:16]

Azerbaijan, Malaysia enhance ICT cooperation

On the sidelines of the summit of the Global Alliance for Information and Communication Technologies and Development held in Kuala Lumpur, Azerbaijani Minister of Communication and Information Technologies met with Jamaluddin Jarjis, Minister of Science, Technology and Innovation of Malaysia.
07 July 2006 [20:46]

Caspian gas may flow to Europe

Europe may be fed its gas supply from and through the Caspian region as Russian gas remains shaky and investment in the Caspian region grows.
07 July 2006 [15:32]

AIOC doubles gas output

The Azerbaijan International Operating Company's gas output more than doubled in the first half of 2006 compared to the same period of last year.
07 July 2006 [15:28]

US deputy energy secretary to attend BTC opening

US Deputy Secretary of Energy Clay Sell will attend the official opening of the Baku-Tbilisi-Ceyhan (BTC) main export oil pipeline in Turkey on July 13, according to Turkish reports.
07 July 2006 [15:25]

New MFBA boss promises exemplary performance

The head of the Micro Finance Bank of Azerbaijan (MFBA), a leading micro-finance provider and commercial bank of the country, will step down to take another position.
07 July 2006 [15:21]

Azerbaijan remains fastest-growing economy in CIS

Azerbaijan topped all other former Soviet republics for economic growth in the first five months of 2006.
07 July 2006 [02:01]

World Bank's new manager in Azerbaijan takes his post

New manager of World Bank Office in Azerbaijan, Gregory Jedzejczak took his post on Thursday.
07 July 2006 [02:00]

Azerbaijan and the World Bank to sign credit agreement

Azerbaijani government and the World Bank are expected to sign US$29.2mn-credit agreement on the Project of Development and Crediting of Agriculture II in September this year.
07 July 2006 [01:51]

Azeri crude to slip out of Russia's stranglehold

The mammoth Baku-Ceyhan pipeline from Azerbaijan to the Mediterranean is a step toward freeing Caspian oil from Russia's stranglehold but the grip will not be broken until Kazakhstan finds new export routes, analysts say.
07 July 2006 [01:45]

SOCAR has 6157 wells in operation

As of July 1, except Operating Companies and Joint Ventures, the SOCAR per se has 6157 wells in operation.
07 July 2006 [01:44]

Azerdemiryolbank completes distribution of $2mn-credit

Azerdemiryolbank JS Commercial Bank has completed distribution of multipurpose credit allocated by the Black Sea Trade and Development Bank (BSTDB).
07 July 2006 [01:22]

Improtex Motors to bring new BMW models

Azerbaijani Improtex Motors Company intends to bring new BMW X3, BMW Z4, and 3-series model-BMW Coupe models to Azerbaijan shortly.
07 July 2006 [01:20]

Communications and Information Technologies Ministry holds board meeting on finance and investment issues

A board meeting took place at the Ministry of Communications and Information Technologies.
07 July 2006 [01:20]

Bureau Veritas Azeri LLC will conduct consulting at SOCAR for adaptation to ISO 9001:2000

SOCAR Marketing and Economic Operations Office had announced a competition for conduct of consulting for adaptation to ISO 9001:2000 international standards.
07 July 2006 [01:16]

One more tanker to be brought to Azerbaijan

On Thursday Azerbaijani State Caspian Sea Shipping Company (ACSSC) and Russian Krasnoye Sormovo Shipyard signed a document on handing-over of newly-built Koroghlu Tanker to Azerbaijan.
07 July 2006 [01:05]

Secretary Rice is expected to participate in BTC opening ceremony

The last preparation works related to the official opening of Baku-Tbilisi-Ceyhan Main Export pipeline to be held in Ceyhan port of Turkey, are ongoing.
06 July 2006 [21:06]

OHL wins 55.7 mln eur motorway contract in Azerbaijan

Obrascon Huarte Lain SA said its Czech unit OHL ZS has been awarded a 55.7 mln eur contract from the Republic of Azerbaijan government to rebuild a 24-kilometre stretch of motorway from Baku, the country's capital, to the Russian border.
06 July 2006 [20:40]

Azeri official: "Turkey won't take Shah Deniz gas this year"

Turkey will miss an agreed deadline for starting to import natural gas from Azerbaijan, an Azerbaijan government official said Thursday.
06 July 2006 [11:42]

SOCAR ups oil, gas output in six months

The Azeri State Oil Company (SOCAR) produced 4.45m tons of oil in the first six months of 2006 against the target of about 4.36m tons, or 2% over the projection.
06 July 2006 [11:40]

Azeri car plant halts assembly of Russian brand

The automobile plant in Azerbaijan's second largest city, Ganja, has suspended its cooperation with UAZ company on manufacturing SUVs.
06 July 2006 [10:54]

Export of Iran's gas to Georgia started

Georgia oil officials announced about export of Iran's natural gas to this country.
06 July 2006 [02:24]

Oil hits record above $75 on US demand

Oil jumped to a record high above $75 a barrel on Wednesday on strong U.S. demand and ongoing tensions over Iran's nuclear program.
06 July 2006 [02:19]

Azerbaijan not to re-sell Russian gas to Georgia

Azerbaijan is not going to re-export to Georgia natural gas bought from Russia's Gazprom.