Business

24 May 2007 [11:06]

Caterings around Mashadi Azizbayov metro station demolished

Mercury-2 market and caterings around Mashadi Azizbayov metro station were demolished on May 23. Representatives of OJSC Azeryolservis and Nizami Executive Power had a conflict with the salesmen and persons having establishments there.
24 May 2007 [09:24]

SDF loans $13m to reconstruct Yevlakh-Ganja motor road

On May 22, Milli Majlis (the Parliament of Azerbaijan) passed the Law on ratification of the credit agreement between the Republic of Azerbaijan and the Saudi Fund for Development (SFD) for reconstruction Yevlakh-Ganja road.
24 May 2007 [09:19]

Azerbaijan to lay fast train tracks in 2010

The project aimed at improving Baku-Georgian border railway and using fast trains was presented with participation of Azerbaijan's Deputy Minister for Transportation Musa Panahov and South Korean Vice Minister for Construction and Transportation Lee Choon-hee.
24 May 2007 [09:18]

Iran participates in Baku Int'l fair

Five Iranian companies have participated in the 13th International Exhibition on Agriculture and Foodstuff in Baku, capital of Azerbaijan.
24 May 2007 [09:12]

Azerbaijan negotiates with Georgia, Russia to minimize passenger train control at checkpoints

Azerbaijan State Railway Company (ADDY) is negotiating with Russia and Georgia to minimize passenger train control time at border checkpoints.
24 May 2007 [08:46]

Six Moldovan enterprises participate in international exhibition in Baku

Six Moldovan enterprises have staged their goods at the 13th issue of the Interfood 2007 International Exhibition and the first issue of the Agrihort International Exhibition, inaugurated in Baku today, according to the Foreign and European Integration Ministry's press service.
24 May 2007 [08:39]

Azersun Holding to construct oil terminal in Garadagh

Azersun Holding Group of Companies plans to start construction of an oil terminal in Garadagh, near Baku in a few months.
24 May 2007 [08:36]

Azerbaijan drafts blueprint of iodinated salt plant

Azerbaijan will complete the blueprint of a plant to produce iodinated salt, said Abdolbari Goozal, President of Azersun Holding.
24 May 2007 [08:33]

Palimali's dry cargo vessel launched

Ahmad Mahmudov Freighter, the last of five dry cargo vessels, commissioned by Palmali Group of Companies, and built by Russia's Krasnoye Sormovo Shipyard, has been launched on Thursday.
24 May 2007 [08:32]

Azerbaijan-Germany business forum held in Ganja

Azerbaijan-Germany business forum was held in Ganja on the initiative of German-Azerbaijan Economic Development Assistance Union (DAWF) and Economic Development Ministry.
24 May 2007 [08:11]

Turkish military-oriented companies take interest in Azerbaijan

A number of Turkish military technology and product makers show great interest in Azerbaijan.
24 May 2007 [08:10]

Ukraine-Azerbaijan Business Forum to be held in Kiev

It is planned to hold Ukraine-Azerbaijan Business Forum in Kiev in July.
24 May 2007 [08:07]

Gas supply to 2,653 defaulting customers cut off in Baku

Baku Gas Supply Department BakQaz has cut off supply to 2,653 customers who owe a total of AZN 551,284.
23 May 2007 [14:18]

Russia to sell gas directly to Turkey

Russian gas monopoly Gazprom will sell up to 750 million cubic meters of natural gas per year to Turkish consumers under a deal signed with a Turkish energy group on Tuesday, Gazprom said.
23 May 2007 [14:15]

Agriculture 2007 and InterFood Azerbaijan start in Baku

It?c? Caspian LLC, the exclusive partner of ITE Group, has today started the 1stAzerbaijan International Exhibition- Agriculture-2007 and the 13th Azerbaijan International Exhibition "Food, Drinks and Packaging" InterFood Azerbaijan-2007.
23 May 2007 [12:43]

President Aliyev attends opening of shopping mall

Today Azerbaijani President Ilham Aliyev participated in the opening of Khatai shopping mall.
23 May 2007 [08:44]

Inspections in Avropa Gapilari find no serious shortfalls, founder says

No serious shortfalls have been found during the inspections in Avropa Gapilari Open Joint-Stock Company, said the founder of company, MP Baba Tagiyev.
23 May 2007 [08:38]

Azerbaijan's GDP growth 37.1%

Conutry's GDP grew 37.1%, or AZN 1.8 billion, year on year, in January-April, to AZN 6.8842 billion. GDP per capita jumped 35.5% to AZN 816.8, or $940.3.
23 May 2007 [08:37]

"Energy in a changing world" conference to be held at UNESCO

Ministerial Conference "Energy in a changing world" organizing by Russian Industry and Energy Ministry and UNESCO will be held at UNESCO headquarters in Paris from 31 May to 1 June 2007.
23 May 2007 [08:34]

Azerbaijan lifts ban on U.S. poultry

Azerbaijan's agriculture minister said Tuesday his country has lifted its embargo on U.S. poultry meat.
23 May 2007 [08:33]

Azeri Agriculture Ministry warns off buying unidentified fruits

"Sometimes, there is no information about fruits imported to Azerbaijan. Unidentified products in this type including tropical products like kiwi, pineapple and banana can be hazardous for health.
23 May 2007 [08:29]

MBASK Insurance Company delivers presentation of new programme

Azerbaijan's MBASK Insurer has today delivered a presentation of auto insurance programme called QUR - Far from Accident and Relaxed.
23 May 2007 [08:27]

Glass price expected to fall in Azerbaijan

The price of glass will go down in Azerbaijan after Azerbaijan-China joint venture Azershushe comes on stream.
23 May 2007 [08:13]

Oil extraction in Azerbaijan in Jan-Apr increased 13.7m of tones

Oil extraction in Azerbaijan in January - April of 2007 amounted 13 million 727.2 thousand of tones which is by 47,1% more comparing to the same period of 2006.
23 May 2007 [08:08]

Caspian: Russia urges OSCE to probe energy firms

Russia urged the Organization for Security and Cooperation in Europe (OSCE) to investigate the death of marine life and damage to the environment in the Caspian Sea, blaming it on pollution from the oil and gas industry.
22 May 2007 [22:58]

Azerbaijani Defense and Defense Industry Ministers attend IDEF-2007 fair in Ankara

IDEF-2007 international defense industry fair is being held in Ankara.
22 May 2007 [22:52]

Azer-Asia Insurer to sue UniBank for stealing its slogan

Azerbaijan’s Azer-Asia Insurance Company is going to sue UniBank in accusation of misappropriating its slogan "Your Supporting Point".
22 May 2007 [13:42]

US may increase olive and pomegranate imports from Azerbaijan

In the future the United States can increase live and pomegranate imports from Azerbaijan, said W. Kirk Miller General Sales Manager Foreign Agricultural Service (FAS) of U.S. Department of Agriculture (USDA).
22 May 2007 [12:04]

India's OVL to bid over USD 300 mn for Caspian Energy Group

ONGC Videsh Ltd, the overseas arm of Indian state-run Oil and Natural Gas Corp (ONGC), is likely to bid over USD 300 million to buy Caspian Energy Group LLP's interest in a Azerbaijan oil field.
22 May 2007 [12:01]

U.S.-Azerbaijan Agribusiness Forum held in Baku

Supported by the United States-Azerbaijan Chamber of Commerce (USACC), Azerbaijan and Export and Investment Promotion Foundation (AzPromo) and AtaHolding Group of Companies the U.S.-Azerbaijan Agribusiness Forum took place in Baku on May 22 within the scope of the second U.S trade mission's visit to Azerbaijan for the food and agriculture sector.
22 May 2007 [08:48]

Azerbaijan's Railway Development Program to be 50% financed by external loans

Azerbaijan's Railway Development Program for 2007-2011 covers reconstruction of all railway elated field.
22 May 2007 [08:37]

Azerbaijan to increase 2007 budget 8%

Parliament's standing commission for economic policy has today concluded that balanced and fast economic growth during January-April makes it possible to make some amendments to the 2007 budget blueprint.
22 May 2007 [08:19]

Azeri-German Business Forum to take place in Ganja

On May 23, Azerbaijani-Germany Business Forum will be held in Ganja, a second largest city of Azerbaijan, said Frank Weizig, an official of German Ministry of Economics and Technology.
22 May 2007 [08:16]

Azerbaijan to stop import of strong drinks, minister says

Some low-quality alcoholic beverages are imported to Azerbaijan under the brand of famous high-quality drinks, the country's agriculture minister said.
22 May 2007 [08:14]

State Social Protection Fund's 2007 budget to increase

Parliament's social policy commission has made some additions and amendments to the 2007 budget blueprint of the Azerbaijan State Social Protection Fund.
22 May 2007 [08:12]

Azerbaijan to deliver fuel money to farmers in June

As per a presidential decree on governmental support for farmers, AZN 80 million has been earmarked from the state budget for selling fuel and lubricants (AZN 56 million) and fertilizers (AZN 24) to farmers at 50% discount.
22 May 2007 [08:10]

Bank Standard offers special services for VIP customers

Azerbaijan's Bank Standard has launched a unique Private Banking for VIP customers and opened a VIP office at 191, Tolstoy Street, Baku.
22 May 2007 [08:00]

Suspension bridge is being constructed in Zagatala

Construction of suspension bridge is underway in Zagatala region of Azerbaijan.
22 May 2007 [07:33]

Ankara's Nabucco policy angers some

Some European energy experts believe that Russia's latest deals with Turkmenistan and Kazakhstan -- which could jeopardize Turkey's policy of becoming an energy route for Caspian oil and gas, bypassing the strategic and busy Bosporus and Dardanelles straits -- should be seen as a serious blow both to Turkey and the EU's aspirations to reduce reliance on Russian gas and energy.
21 May 2007 [17:30]

President Aliyev receives Wintershall CEO

President Ilham Aliyev received Reinier Zwitserloot, Chairman of the Board of Executive Directors of the German company Wintershall, the country's largest crude oil and natural gas producer.
21 May 2007 [16:33]

Azerbaijan to float eurobonds in autumn

The efforts to seek a manager and a legal consultant for the first issue and flotation of eurobonds in the international market have continued to progress, said Gunduz Mammadov, chair of the State Committee for Securities.
21 May 2007 [16:23]

Azerbaijan frames bill on Investment Funds

Azerbaijan's State Committee for Securities has completed development of a bill on Investment Funds and submitted to a panel of international experts for review.
21 May 2007 [15:54]

Caspian Oil & Gas 2007 to be held in Baku

Baku will host the14th International Caspian Oil and Gas Exhibition and Conference Incorporating Refining and Petrochemicals June 5-8.
21 May 2007 [15:03]

Germany wants Azeri gas

"Germany wants to import Azeri gas. The government of Germany intends to ensure its gas supply in diversified way, from different nations, including Caspian countries like Azerbaijan and Kazakhstan."
21 May 2007 [14:45]

S.Korean railway specialists to visit Azerbaijan

A delegation of South Korean railway specialists will come to Baku on May 22, said Gurban Nazirov, an officer of Azerbaijan State Railway Company (ADDY).
21 May 2007 [14:33]

Baku hosts Azerbaijani-German Economy Days

Supported by German-Azerbaijan Economic Development Assistance Union (DAWF), [Deutsch-Aserbaidschanische Wirtschaftsforderverein] Azerbaijan's Economic Development Ministry and Azerbaijan Export and Investment Foundation (AzPromo), a forum titled Azerbaijani-German Economy Days was held in Baku.
21 May 2007 [14:18]

Azerbaijan to export gas to Turkey, boost supplies to Georgia

Baku can start natural gas shipments to Turkey as soon as Ankara is capable of receiving them, Azerbaijan's energy and industry minister said Monday.
21 May 2007 [13:51]

IFC, BP and Micro Finance Bank of Azerbaijan announce the launch of the Supplier Finance Facility in Azerbaijan

IFC, BP and The Micro Finance Bank of Azerbaijan (MFBA) today announced the launch of the Supplier Finance Facility (SFF) in Azerbaijan.
21 May 2007 [12:33]

Avropa Gapilari company still suspended

Avropa Gapilari Open Joint-Stock Company has been suspended for a month.
21 May 2007 [08:11]

ICSID to continue haring on Barmek's suit in July

The court hearing on suit of Barmek-Azerbaijan Electricity Distribution was held on May 18 in the International Centre for Settlement of Investment Disputes (ICSID).
21 May 2007 [08:10]

Azerbaijani delegation attends EBRD's annual meeting

The European Bank for Reconstruction and Development (EBRD) is holding its annual meeting in Kazan city.
21 May 2007 [08:07]

Statoil interested in cleaning of Azerbaijani rivers

Norway's Statoil Company is interested in the projects on cleaning of rivers in Azerbaijan.
21 May 2007 [08:05]

Finance Minister attends World Economic Forum

Azerbaijan's Finance Minister Samir Sahrifov left for Jordan on May 18 to attend the World Economic Forum in Amman.
19 May 2007 [10:26]

Turkey's EurAsia appeals to court to arrest Azerbaijan's airplanes

Ankara 16th Executive Court passed a verdict on arresting Azerbaijan's planes by the suit brought by EurAsia Company.
19 May 2007 [10:13]

Private sector takes 74.1% of communications income

For the first quarter of 2007, the amount of telecommunications services reached AZN 140.2 million in Azerbaijan, up 16.6% from the same period last year, Ali Abbasov, the country's Communications and Information Technologies Minister, told at the press conference.
19 May 2007 [10:12]

BICEX director visits Tbilisi Interbank Currency Exchange

Farhad Amirbayov, director of Baku Interbank Currency Exchange (BICEX) visited Tbilisi Interbank Currency Exchange.
19 May 2007 [10:10]

People's Bank of Georgia seeks money transfer partner in Azerbaijan

People's Bank of Georgia is seeking a partner in Azerbaijan for money transfer.
19 May 2007 [10:06]

1.1 million VISA cards issued in Azerbaijan

As of January 1, 1.131 million VISA International Payment System cards were issued in Azerbaijan.
19 May 2007 [10:05]

Azerbaijan considers Popular Computer Project

Azerbaijan should offer great concessions in regional innovation zones to be established, said Ali Abbasov, the country's Communications and Information Technologies Minister.
19 May 2007 [10:04]

Taxes Minister meets with UN Resident Coordinator

Azerbaijan's Taxes Minister Fazil Mammadov met with the UN Resident Coordinator Bruno Pouezat.
19 May 2007 [10:03]

EBRD to expand equity investments in South Caucasus

EBRD will further expand its investment operations in the South Caucasus nations, EBRD official Murtaz Kikoria told the 2nd Caucasus International Banking and Finance Conference in Tbilisi.
19 May 2007 [10:01]

Finance Ministry reports on social financing

Social Finance Department of Azerbaijan's Finance Ministry has released a report on activities from January 1 to May 10.
19 May 2007 [09:32]

ICSID considering Barmek's arbitration request against Azerbaijan

In London the International Centre for Settlement of Investment Disputes (ICSID) will today have a preliminary sitting on the arbitration request filled by Barmek, which had a 25-year contract to distribute electricity in Azerbaijan, against the Government of Azerbaijan.
19 May 2007 [09:30]

Krasnoye Sormovo Shipyard agrees to build another tanker for Palmali

Russia's Krasnoye Sormovo Shipyard and Palmali inked a deal aimed at building of one more tanker.
19 May 2007 [09:30]

India's Vedanta accused of illegal mining in occupied territories of Azerbaijan; govt to probe

Anil Agarwal-led metal giant Vedanta has been accused of illegal mining by Azerbaijan, prompting India to assure the government of the former Soviet republic of investigating the issue.
19 May 2007 [09:28]

Bank of Baku opens branch in Yasamal

Bank of Baku has established a branch in Yasamal district of Baku.
19 May 2007 [09:27]

CIS and Baltic Railway Transport Council meets in Astana

The 46th meeting of the Railway Transport Council of the CIS and Baltic nations took place in Astana, Kazakhstan on May 17.
19 May 2007 [09:27]

Black Sea & Silk Road Conference adopts declaration for development of TRACECA

The 1st Black Sea and 4th Silk Road Conference took place on 14-16 May 2007 in Istanbul.
19 May 2007 [09:09]

Evrosib ready to work in Azerbaijan

Evrosib Logistics included into Evrosib Group is going to enter the transport market in Azerbaijan, as it was informed.
19 May 2007 [08:52]

World Bank allocates Azerbaijan $17 mln for national park

The World Bank said Friday it had allocated $17 million for Azerbaijan to create the largest national park in the south Caucasus.
18 May 2007 [22:30]

State Oil Fund wins UN Public Service Award

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) is a winner of the 2007 UN Public Service Award in the category of "Improving transparency, accountability and responsiveness in the Public Service".
18 May 2007 [22:19]

State Oil Company delivers 14 million cu m of gas to national grid for the first time

The State Oil Company of Azerbaijan (SOCAR) has today delivered a record of 14 million cubic meters of natural gas to the national grid.
18 May 2007 [15:27]

2nd Caucasus International Banking and Finance Conference ends today

The 2nd Caucasus International Banking and Finance Conference today discussed a number of issues on prospects of developing banking and insurance services in the South Caucasus, cooperation and the present situation in Tbilisi.