Business

30 January 2007 [14:24]

PSP Group to export medicines to Azerbaijan

Georgia's pharmaceutical company PSP Group plans to boost its exports.
30 January 2007 [01:01]

UniLeasing to open new regional branch

UniLeasing intends to open a new regional branch in Guba in early February.
30 January 2007 [00:59]

Court to announce its decision on appeal of ANS Commerce

Economic Court #1 presided over Judge Ilgar Dadasov postponed the trial on the appeal of ANS Group of Companies on ministry's decision.
30 January 2007 [00:48]

Georgia to resume importing Azeri gasoline

Georgia is importing diesel fuel from Azerbaijan without interruptions.
30 January 2007 [00:47]

IBA-Moscow carries out transactions on corporate bonds by Russian issuers

International Bank of Azerbaijan-Moscow, a subsidiary of the International Bank of Azerbaijan, has launched transactions on corporate bonds by Russia issuers.
30 January 2007 [00:40]

Azerbaijan Publishing House to increase rentals by 50%

Azerbaijan Publishing House will increase rentals by 50% starting from February.
30 January 2007 [00:32]

Ban on some wineries remains effective in Azerbaijan

State Agency for Standardization, Metrology and Patents kept effective bans imposed on some wineries.
30 January 2007 [00:31]

ADB mission to visit Azerbaijan

Asian Development Bank mission for transport will visit Azerbaijan in February.
30 January 2007 [00:29]

Bank Respublika opens office in Baku

Bank Respublika has opened an office at 24, Huseynbala Aliyev Street, Baku.
30 January 2007 [00:28]

ACE to hold seminar for businessmen

Azerbaijan National Federation of Entrepreneurs (Employers) will Wednesday hold a seminar examining Amendments to the Taxes Code.
30 January 2007 [00:28]

SOCAR raises salary 25%

Under the decision made by the State Oil Company of Azerbaijan sand Oil and Gas Industry Labor Union, there will be a 25% rise in salary effective on Feb 1.
30 January 2007 [00:27]

Azerbaijan announces tender for export of Azeri Light Crude

SOCAR Marketing and Economic Operations Department has announced a tender for oil export.
30 January 2007 [00:26]

ALFA Insurance to provide aviation insurance

Azerbaijan's ALFA Insurance intends to launch aviation insurance services this year.
29 January 2007 [22:17]

Electricity to be cut off because of debts

Bakielectricshebeke (Baku Electricity Network) will cut off electricity supply to the debtors from Monday.
29 January 2007 [18:00]

Armenian President's spokesman: "We will hamper construction of Kars-Baku"

Armenia has been always guided by economic effectiveness of projects and it categorically opposes political projects that look like economic ones only on the first sight, which is in particular true about the Kars-Akhalkalaki-Tbilisi-Baku railway, Armenian president's spokesman Viktor Sogomonyan announced at a news conference on January 29.
29 January 2007 [15:28]

Baku to host summit of TRACECA member states

Baku intends to host a summit on the 10th anniversary of the TRACECA (Transport Corridor Europe Caucasus Asia) Inter-Governmental Commission.
29 January 2007 [13:18]

Azerbaijan's foreign debt 9.9% of GDP, at $2.29 bln

Azerbaijan's foreign debt stood at 1.97 billion manat ($2.293 billion) as of January 1, 2007, the Finance Ministry said Monday.
29 January 2007 [12:46]

Yanukovych says pipe will be completed

Ukrainian Prime Minister Viktor Yanukovych said he was working to build a pipeline to transport oil from the Caspian Sea area directly to the European Union, the Wall Street Journal reported Friday, citing an interview.
28 January 2007 [15:42]

Georgia hopes to receive gas from Azerbaijan – Saakashvili

Georgian President Mikhail Saakashvili said Georgia hopes to receive gas mainly from Azerbaijan.
27 January 2007 [15:34]

"Azerbaijan Terminal Complex" becomes operational

Opening ceremony of administrative building of "Azerbaijan Terminal Complex" Foreign Economic Unity of State Customs Committee (SCC) was held on Saturday.
27 January 2007 [15:30]

Moldova, Belarus, Ukraine and Azerbaijan will simplify the produce export-import operations

Moldova, Belarus, Ukraine and Azerbaijan plan to sign the intergovernmental agreement in order to simplify the process of produce movements through the territory of these states.
27 January 2007 [03:16]

Azerbaijan develops state program for standardization, metrology, certification, accreditation and patents

State Agency for Standardization, Metrology and Patents has worked out a draft program for standardization, metrology, certification, accreditation and patents.
27 January 2007 [03:15]

Indices fell after the rally

World markets moved down after a rally on Thursday.
27 January 2007 [03:14]

Oil back to fall after levelling off a day ago

On the oil markets, crude oil began to fall from a week-second high.
27 January 2007 [03:13]

Debutbank to open new branch in Baku

National Bank of Azerbaijan has granted the proposal of Debutbank Joint Stock Commercial Bank on opening of a new branch in Baku.
27 January 2007 [03:10]

79 thousand vehicles brought to Azerbaijan in 2006

79 thousand vehicles were brought to Azerbaijan last year.
27 January 2007 [03:06]

Aleksander Lukashenko: "We carry out intensive negotiations with Azerbaijan"

"We carry out intensive negotiations with oil-producing countries in order to cooperate with them. We are ready to establish joint ventures with them," Belarusian President Aleksander Lukashenko stated in the interview to German publication "Die Welt."
27 January 2007 [02:59]

Azercell signs new roaming deal

Azerbaijan's mobile operator Azercell Telecom has concluded unilateral roaming agreement with Congo's CelTel operator.
27 January 2007 [02:57]

Oguz-Gabala-Baku Water Pipeline Project Tender winners to be announced

Azersu Open Joint Stock Company will announce winners of the tender for design engineering and construction of the Oguz-Gabala-Baku Water Pipeline Project.
27 January 2007 [02:56]

ALFA Insurance to open its branch in Sumgait

Azerbaijan's ALFA Insurance will open its first branch in Sumgait in February.
27 January 2007 [02:54]

AGLeasing enlarges leasing portfolio 25%

AGLeasing increased its leasing portfolio to AZN 3,092,319, to January 1, during 2006, up 25.4% from the previous year.
27 January 2007 [02:52]

Bank Respublika's assets leaps 91%

Bank Respublika's assets grew 91%, to January 1, and reached AZN 111.3mln.
27 January 2007 [02:33]

Trades at BICEX, Jan. 26

The weighted average exchange prices made up 0,8706 AZN for 1 US dollar in the Baku Interbank Currency Exchange on January 26.
27 January 2007 [02:20]

State Customs Committee opens new building in Sumgait

Azerbaijan State Customs Committee opened the building for its department in Sumgait.
27 January 2007 [02:19]

International Technology University can be opened in Azerbaijan

A delegation led by Deputy Minister of Communications and Information Technologies, Iltimas Mammadov, returned from Goteborg, Sweden.
27 January 2007 [02:15]

Baku to host the meeting of GUAM Transport Coordination Council

Baku will host the meeting of the Transport Coordination Council of GUAM.
27 January 2007 [02:08]

Meeting on results of tender on ANS frequency to be held Jan.31

The meeting on the results of the tender announced by National Television and Radio Council on ANS TV and ANS ChM Radio frequency will be held on January 31.
27 January 2007 [02:05]

Latvian Minister's visit delayed

Minister for Special Assignments for Electronic Government Affairs of Latvia Ina Gudele's visit date to Azerbaijan has been changed.
27 January 2007 [02:01]

Iranian envoy meets Azerbaijan's Agriculture Minister

Iranian ambassador to Azerbaijan Afshar Suleymani met with Minister of Agriculture Ismet Abbasov.
27 January 2007 [01:53]

President Aliyev meets Intel CEO

President of Azerbaijan Ilham Aliyev met with Mr. Craig R. Barrett, Chairman of the Board of the US Intel Corporation, Jan. 26, in Davos.
26 January 2007 [22:08]

Norway in funding pledge to Azerbaijan

Norway is to provide Azerbaijan with funding worth US$1.5M to develop small hydroelectric power plants in the country.
26 January 2007 [21:58]

McDermott's contract on laying pipeline across Caspian seabed contradicts earlier statement by Russian official

McDermott Caspian Contractors Inc., a U.S.-based design and engineering company, said Friday it has been granted a contract by a subsidiary of Russia's largest crude producer, LUKoil, to build an oil pipeline along the bottom of the Caspian Sea.
26 January 2007 [18:28]

President Aliyev meets Bill Gates

President of Azerbaijan Ilham Aliyev who is participating in the World Economic Forum in Davos met with the Chairman of Microsoft Corporation, Bill Gates.
26 January 2007 [16:36]

Azerbaijan to supply Georgia with gas despite Shah Deniz problems

In spite the fact that Georgia can not receive gas from Shah Deniz any more, the country will have no problems at all, Azerbaijan Ministry of Energy states.
26 January 2007 [16:23]

Azeri petrol not meet European standards

Director of State Agency for Standardization, Metrology and Patents Ramiz Hasanov interviewed by the APA.
26 January 2007 [16:18]

Ukrainian PM suggests establishing consortium on transportation of oil to Europe through Ukraine

As Yanukovych said, Ukraine and Azerbaijan consider likelihood of creating a consortium of oil transportation to Europe together with Russia and Kazakhstan.
26 January 2007 [13:14]

Economic Court to pass decision on appeal of "ANS-Commerce" Jan. 29

Economic Court #1 has considered the appeal of ANS Group of Companies on ministry's decision.
26 January 2007 [01:29]

German Company to export Azeri crude

Germany's Select Energy GmbH has won the tender announced by the SOCAR Department for Marketing and Economic Operations.
26 January 2007 [01:14]

Azerbaijan Micro Finance Bank opens new branch

Azerbaijan Micro Finance Bank (AMMB) has opened a new branch in capital's Sabayel district.
26 January 2007 [01:12]

Karasu Operating Company cuts gas production

Karasu Operating Company (KAOC), dealing with exploration and development of the Mishovdag and Kelameddin onshore oilfields in Azerbaijan, produced 4,648,000 cu m of gas during 2006, 23.9% down from the previous year.
26 January 2007 [01:10]

Salyan Oil slashes gas output

Salyan Oil, dealing with development of Kursengi-Garabagli onshore fields, produced 43,127,000 cubic meters of gas during 2006, 21.2% up from previous year.
26 January 2007 [01:08]

ALFA Insurance more than doubles its authorized capital

Azerbaijan's ALFA Insurance raised insurance fees collection 23% to AZN 995,600 and more than tripled insurance payment, year-over-year, to AZN 145,600.
26 January 2007 [01:02]

Azerbaijan reports macroeconomic indicators for 2006

Azerbaijan State Statistical Committee released macroeconomic performance indicators, saying the country's gross domestic product grew to AZN 17,735,800 last year.
26 January 2007 [00:43]

Azerbaijan's vegetable production hits record high

Azerbaijan produced agricultural products worth AZN 1,894,731,200 last year.
26 January 2007 [00:34]

Commission on Russia-Azerbaijan economic partnership to meet

"Our trade and economic partnership is the basis of the relations between Azerbaijan and Russia," said representative of Russia's Trade mission to Azerbaijan Yuri Shedrin.
25 January 2007 [21:00]

Azerbaijan receives new proposal from Gazprom

Russia's Gazprom intends to store up its natural gas in Azerbaijan's underground gasholders to supply to its southern regions, Head of Russia's Trade Office in Azerbaijan, Yuri Shedr said.
25 January 2007 [20:56]

Trades at BICEX, Jan. 25

The weighted average exchange prices made up 0,8709 AZN for 1 US dollar in the Baku Interbank Currency Exchange on January 25.
25 January 2007 [20:51]

President made speech at Davos Forum

The first meeting on the theme "Increasing importance of oil geopolicy" of World Economic Forum was held in Davos, Switzerland.
25 January 2007 [19:20]

Building a Black/Caspian natural gas bridge: Challenges and opportunities

Developments in 2006 and notably the recent Russian-Belarusian crisis proved that energy is consolidating its position as Europe's long-term security challenge.
25 January 2007 [18:55]

Russia says pipelines across Caspian Sea floor unacceptable

Any gas or oil pipelines across the floor of the Caspian Sea would be environmentally unacceptable, an official with the Russian Natural Resources Ministry said Thursday.
25 January 2007 [18:33]

Azerbaijan Armed Forces Assistance Fund collects AZN 3.03mln

Azerbaijan Armed Forces Assistance Fund has collected AZN 3.03mln and $65 188 so far.
25 January 2007 [17:27]

Education Ministry holds board meeting

The amount allocated for education sector increased by 33% in 2006 and by 47% in 2007.
25 January 2007 [17:21]

Economic Court #1 to consider appeal of "ANS-Commerce"

Tomorrow Economic Court #1 will consider the appeal of ANS Group of Companies on Ministry decision, ANS Groups of Companies told.
25 January 2007 [15:33]

Average Azeri migrant remits $150 from Russia a month

Azerbaijan Statistical Committee projected the Jan. 1, 2007 population will beat 8,533,000.
25 January 2007 [12:52]

Three bakeries closed in Baku

Three bakeries producing low-quality and below-standard bread have bee closed in Baku.
25 January 2007 [12:46]

ANS Commerce faces criminal proceedings

Taxes Ministry's Department for Preliminary Investigation of Tax-related Crimes has instituted criminal case against ANS Commerce of ANS Group of Companies on mass tax evasions.
25 January 2007 [01:25]

Oil prices set to bottom out

Since Jan. 23 the oil prices came to raise hopes.
25 January 2007 [01:24]

Tarkan to pay four-day visit to Baku

Turkish mega-star Tarkan will have concert at the end of this year.
25 January 2007 [01:23]

Gas supply to Zagatala stopped

The supply of natural gas to Zagatala was stopped.
25 January 2007 [01:12]

Azerbaijan Mortgage Fund earmarks AZN 40mln for mortgage lending in 2007

Azerbaijan Mortgage Fund intends to use AZN 20mln allocated from the State Budget to mortgage lending for 2007.
25 January 2007 [01:09]

SOCAR to work out 2007-10 Social Development Program

SOCAR Social Development Department and Oil and Gas Industry Labor Union officers held a workshop ay Heydar Aliyev Baku Deepwater Jackets Factory and a house of Social development Department in the settlement of Bakikhanov.
25 January 2007 [01:09]

Rabitabank's assets grow 37%

Rabitabank's assets grow 37% to AZN 44,337,000 in January, 2007.
25 January 2007 [01:07]

French court disappoints FimBank

Paris Court has refused the request lodged by Malta's FimBank for suspension of the execution of a court decision on lifting the arrest from 500,000 stocks of Azeri Government in the European Telecommunications Satellite Organization (Eutelsat).
25 January 2007 [00:57]

Azerbaijan's trade surplus reaches $2.3bln

Azerbaijan's surplus trade with faraway nations in 2006 reached US $2,277 billion while trade gap with Commonwealth of Independent States (CIS) amounted to $1.170 billion.