Business

02 June 2008 [09:10]

National Bank studies possible functioning of Islamic banking in Azerbaijan

The National Bank of Azerbaijan studies possible creation of conditions for activity of Islamic banking in the country.
02 June 2008 [08:58]

Azerbaijan's National Bank supports participation of foreign brand banks in the local market

Several foreign brand banks display interest in the market of Azerbaijan.
30 May 2008 [17:39]

Overall assets of Azerbaijani banks make AZN 7.67 bln

The assets of Azerbaijan's banking sector have risen by 79.9% since May 1 of 2007, said a source from the National bank of Azerbaijan.
30 May 2008 [13:09]

Azerbaijan's Economic Development Minister to take part in annual session of IDB directors' board

The 33rd annual session of the Directors' Board of Islamic Development Bank is to be held in Jidda city (Saudi Arabia) on June 3-4.
30 May 2008 [11:23]

Kazakhstan ratifies oil transit treaty with Azerbaijan

Kazakhstan has ratified a treaty with Azerbaijan allowing Kazakh crude to be pumped through a pipeline linking Azerbaijan's Caspian coast to Turkey's Mediterranean coast, the Kazakh presidential administration said.
30 May 2008 [09:28]

Ukraine ambassador to Azerbaijan: "We would like Azerbaijan to join the project of container transportations via Georgian ports to Central Asia"

Azerbaijan is interested in joining the container transportation by Claipeda-Ilichevsk route, said Ukraine's ambassador to Azerbaijan Boris Klimchuk.
29 May 2008 [16:57]

Azerbaijan to build oil refinery in Ukraine

Azerbaijan does not intend to buy existing oil assets in Ukraine.
29 May 2008 [13:48]

Baku hosts GUAM development strategy conference

"GUAM member countries establish their activities on the basis of regional cooperation and development", said Valeriy Chechelashvili, GUAM Secretary General at the GUAM development strategy conference in Baku, APA reports.
29 May 2008 [13:05]

World Food Program to stop operating in Azerbaijan

"The world experiences problem of food security today, which does not bypass Azerbaijan. Therefore the country's government has been taking due measures for already a year".
29 May 2008 [12:52]

Israeli Infrastructure Minister to visit Azerbaijan

Israeli National Infrastructure Minister Benjamin Ben-Eliezer will visit Azerbaijan next week, APA reports with reference to Israeli sources.
29 May 2008 [12:49]

Deputy Oil Minister of Iran: "Tehran is closely watching the development of Azerbaijani economy, including the oil and gas sector"

President of the State Oil Company of Azerbaijan Rovnag Abdullayev received a delegation led by deputy minister of oil and general manager of the Iran National Gas company Seid Rza Kesaizade.
29 May 2008 [10:43]

Azerbaijan takes part in meeting of chiefs of CIS and Baltic railway departments in Bishkek

The 48th session of the Council of heads of CIS and Baltic railway departments held in Bishkek, Kyrgyzstan.
29 May 2008 [09:00]

WB to lend $248,800,000 to Azerbaijan

The World Bank passed a decision to allot new credits to Azerbaijan.
27 May 2008 [17:41]

Heydar Babayev: "Prices are not expected to rise in Azerbaijan by the end of this year"

The tariff council has not received an appeal regarding price hike, said Heydar Babayev, Economic Development Minister of Azerbaijan, who is also the head of the Tariff Council.
27 May 2008 [16:31]

Foreign Minister: "Azerbaijan is interested in creation of free trade area with the Middle Asian countries and in access to the Asian market"

Today Azerbaijani Foreign Minister Elmar Mamedyarov received UAE External Trade Minister Sheikha Lubna bin Khalid, visiting Baku, reports the press service for the Azerbaijani Foreign Ministry.
27 May 2008 [12:58]

First Azerbaijan-Turkmenistan business forum to be held in Ashkhabad

The first Azerbaijan-Turkmenistan business-forum will be held in Ashkhabat on June 16-17.
27 May 2008 [10:02]

UAE, Azerbaijan sign protocol by results of first session of intergovernmental commission in Baku

The first session of the intergovernmental commission on economic, trade and technical cooperation between Azerbaijan and UAE, held in Baku, resulted in signing a protocol.
26 May 2008 [16:28]

Bahar-Hovsan-Surakhany gas pipeline to be launched in Azerbaijan this year

The Bahar-Hovsan-Surakhany gas pipeline will be launched in by the end of this year.
26 May 2008 [09:54]

First Azerbaijani international business-conference to be held in Shamakhi

The first Azerbaijani international business-conference will be held in Shamakhi on May 27.
23 May 2008 [16:44]

Bulgarian company changes its mind about investing $10,000,000 to Azerbaijan due to absence of favorable conditions in the country.

Provider of cable television, internet and communication-Bulgarian CableTEL intends to reject the declared investment plan on creation of the cable television network in Azerbaijan.
23 May 2008 [13:39]

Ismet Abbasov: "Bread price hike is mainly caused by the spread rumors about the so-called possible grain deficit in Azerbaijan"

Additional 100,000 hectares have been sown with grain in Azerbaijan, which means additional 300,000-350,000 tons of grain.
22 May 2008 [11:54]

Armenian President: "Opportunities for the peaceful resolution of Nagorno Karabakh conflict have not been exhausted yet"

Deepening of Armenia's cooperation with EU will accelerate democratization and development of the country's economy.
22 May 2008 [09:47]

Sabit Baghirov: "Azerbaijan-Turkmenistan cooperation in the sphere of fuel and energy complex has good prospects"

The first visit of Turkmen president to Azerbaijan opens new prospects of bilateral cooperation, including in the fuel and energy complex.
21 May 2008 [14:57]

Water supply restored - UPDATED

Sumgayitelektrikshebeke has restored power supply to Azersu after its suspension at 15:00 on May 19 due to Azersu's failure to pay the debt.
21 May 2008 [13:12]

Azerbaijan invests $2 bln to transport sector development

In 2008 Azerbaijan invested $2 bln to development of the transport sector.
20 May 2008 [17:16]

Azerbaijan represented at 10th global conference on direct investments

Deputy chief executive of the Azerbaijan Investment Company Riad Qasimov attended the 10th Global Conference on Direct Investments.
20 May 2008 [16:55]

$55 mln to be spend for creation of effective transport management system in Baku - UPDATED

The project on effective transport management system creation in Baku is estimated at $55 mln.
20 May 2008 [16:42]

Azerbaijan to spend AZN 4 bln on transport sector development

Dynamics of investments to the transport sector development is increasing yearly.
20 May 2008 [16:01]

Sumgayitelektrikshebeke: "We do not arrange sabotage against Ilham Aliyev"

"It's a pity that Milli Medjlis deputy Guler Ahmedov has made such conclusions about Sumgayitelektrikshebeke".
20 May 2008 [15:22]

Azerbaijan's inflation rate reaches 17.8% by results of April

In April of 2008 the prices on consumer goods and tariffs of services have risen by 3.1% as compared to March and by 17.8% as compared to the same period of the last year.
20 May 2008 [10:41]

Water supply cut to 70% of Sumgayit city and the whole Binagadi district of Baku

"Azersu stock company has not taken any steps to pay the power debt".
20 May 2008 [10:18]

World's second longer sea bridge to be built in Azerbaijan

Korean Dongsung Engineering plans to implement the project of a sea bridge via the Baku bay within the next seven years, said representative of the Korean embassy to Azerbaijan Kim Yeong Seog.
20 May 2008 [09:30]

General agreement signed on shipyard construction in Azerbaijan - UPDATED

A general agreement on construction of a shipyard in Azerbaijan (Qaradagh settlement of Baku) was signed in Baku yesterday.
19 May 2008 [16:44]

300 Daewoo buses to be delivered to Azerbaijan

Azerbaijan's Ministry of Transport and South Korean Daewoo signed two documents today.
19 May 2008 [16:24]

Azerbaijan, South Korea to continue cooperation in railway transport

The State Railway Administration of Azerbaijan and Korean railway network have signed a memorandum of mutual understanding.
19 May 2008 [12:04]

Representation of Korean Trade and Investments Promotion Agency opens in Baku

"Azerbaijan accounts for 14 Korean companies with majority functioning successfully".
19 May 2008 [10:31]

Azerbaijan pays gas debt to Turkmenistan

Azerbaijan has paid debt for natural gas, supplied in the early 1990s, to Turkmenistan, according to Interfax.
17 May 2008 [09:23]

Mikhail Saakashvili: "The plans, which I have developed jointly with President of Azerbaijan Ilham Aliyev, are being implemented"

President of Georgia Mikhail Saakashvili, attending yesterday's opening of the Kulev terminal, called it new sea gates of the country.
17 May 2008 [09:10]

Rovnag Abdullayev: "The State Oil Company of Azerbaijan has invested $380 mln to Georgian economy"

The State Oil Company of Azerbaijan has invested $380 mln to Georgian economy.
16 May 2008 [21:34]

Azerbaijan Companies Featured At Major U.S. Food Trade Show

The United States-Azerbaijan Chamber of Commerce (USACC) last week led a government and corporate trade mission, showcasing Azerbaijani goods and products to the largest and most comprehensive food industry event in North America.
16 May 2008 [17:03]

Heydar Babayev: "Azerbaijan is interested in investing to Cuban tourism"

Azerbaijan's Economic Development Minister Heydar Babayev received president of Trade and Industrial Chamber of Cuba Raul Besseru.
16 May 2008 [16:49]

President of Azerbaijan receives chairman of South Korean Kolon

President of Azerbaijan Ilham Aliyev received chairman of the South Korean company Kolon Vung Yul Li, reports press service for the President.
16 May 2008 [16:28]

Heydar Babayev: "There are favorable conditions for development of cooperation between Azerbaijan and Israel in the sphere of agriculture"

Azerbaijan's Economic Development Minister Heydar Babayev received Israeli Minister of Agriculture Shalom Simkhon.
16 May 2008 [16:17]

Business-meetings of Israeli and Azerbaijani entrepreneurs held in Baku

Business-meetings of Israeli and Azerbaijani entrepreneurs were held in Baku on May 16.
16 May 2008 [13:36]

Azerbaijan-owned oil terminal opens in Georgia

An oil terminal belonging to Azerbaijan was opened in Georgia's west on Friday.
16 May 2008 [12:39]

Black market of cell phones in Azerbaijan reaches AZN 40 mln

Volume of cell phone market of Azerbaijan exceeds AZN 100 mln.
16 May 2008 [11:27]

Representation of Korean Trade Promotion Agency to open in Azerbaijan

An opening ceremony of local representation of the Korean Trade Promotion Agency will be held in Baku on May 19.
15 May 2008 [16:47]

President of Baltika company: "About $20 mln will be invested into modernization of the Baku-Castel brewery"

Baltika is a leader of the import segment of market in Azerbaijan.
15 May 2008 [15:41]

Eyub Huseynov: "The avalanche-like price hike will influence not only underground but also other transport fares"

Day.Az interview with Eyub Huseynov, chairman of the Azerbaijan's Union of Free Consumers.
15 May 2008 [14:53]

Prime Minister of Azerbaijan to take part in opening of oil terminal in Georgia

Prime Minister of Azerbaijan Artur Rasizade will visit the Kulevi city in Georgia's west tomorrow.
15 May 2008 [11:39]

Work groups of Azerbaijan, Iran and Russia to meet on North-South transport corridor in Baku

The Azerbaijan-Russia-Iran meeting of work groups, dealing with the implementation of the North-South international transport corridor project, will be held in Baku, Azerbaijan on May 26-27.
14 May 2008 [12:59]

Available funds grow 1.6 times in Azerbaijan

As of April 1, Azerbaijan accounted for AZN 4,428,200,000 of available funds in circulation.
14 May 2008 [12:31]

Private households receive 37.5% of credits in Azerbaijan

As of April 1 of this year the volume of credit assignments of Azerbaijan's economy made up AZN 4,932,100,000.
14 May 2008 [09:14]

Guneshli gas extraction rises by 62%

The Guneshli field has been producing 17.2 mln cubic meters of gas daily since the beginning of the year with 16 mln transferred to the state.
14 May 2008 [09:08]

Azerbaijan's external debt makes $2,596,500,000

The external debt of Azerbaijan made $2,596,500,000 as of April 1 of 2008 which is a 6.4% of the country's GDP.
13 May 2008 [17:31]

Azerbaijan to be involved to project of Trans-Adriatic pipeline construction

Azerbaijan's Minister of Industry and Energy Natik Aliyev met with head of Swiss EGL-AXPO Robert Lombardini.
13 May 2008 [17:09]

Representative of UN World Food Program: "The food crisis will affect Azerbaijan as well"

The rise in prices on foodstuffs will affect Azerbaijan as well, none of the countries is secured from food crisis.
13 May 2008 [17:02]

Heydar Babayev discusses issues of economic cooperation with Egypt's deputy Foreign Minister

Azerbaijan's Minister of Economic Development Heydar Babayev met with deputy Foreign Minister of Egypt Ramzi Azzaldin Ramzi.
13 May 2008 [14:57]

UN World Food Program renders $115 mln of assistance to Azerbaijan

Within 14 years the UN World Food Program rendered assistance of 164,000 tons of different food products to Azerbaijan.
13 May 2008 [14:26]

Seminar on Azerbaijan's accession to World Trade Organization to be held in Baku

A seminar on "Development of a dialogue between private sector and government in the process of accession to the World Trade Organization".
13 May 2008 [12:02]

World Food exhibition to be held in Baku

The World Food exhibition will be held in the Sport and Concert Company named after Heydar Aliyev in the Azerbaijani capital on May 15-17.
13 May 2008 [11:53]

Azeri Airlines open direct air flight Baku-Antalia-Baku

Azeri Airlines initiated operating of a direct passenger air flight Baku-Antalia (Turkey)-Baku.