Business

28 September 2006 [09:29]

Taxes Ministry finds irregularities in 25 659 trade facilities

Taxes Ministry Operational Control Department have to date examined 109 828 various kinds of trade facilities and found serious irregularities in 25 659 of them.
28 September 2006 [09:26]

Favorable balance of trade with CIS made $784mn in Azerbaijan

Azerbaijan's trade with faraway country yielded favorable balance of $1 096.563mn and trade with CIS member states resulted in unfavorable balance of $784.2883mn during January-August of the year.
28 September 2006 [09:24]

Ban on black caviar and Caspian sturgeon exports to be lifted

2The ban on black caviar and Caspian sturgeon exports of Azerbaijan may be lifted at the meeting of the permanent secretariat of CITES (the Convention on International Trade in Endangered Species of Wild Fauna and Flora.).
28 September 2006 [00:45]

Russian pipeline poses dilemma for Turkey

Russian plans for a new natural gas pipeline are placing Turkey in a tough position.
28 September 2006 [00:27]

CIBC company-members meet with Energy Minister

The companies-members of the Caspian Integration Business Club (CIBC) today met with Natig Aliyev, the Minister of Energy and Industry, the acting co-chairman in CIBC from the side of Azerbaijan.
28 September 2006 [00:23]

Trades at BICEX

The weighted average exchange prices made up 0,8752 AZN for 1 US dollar in the Baku Interbank Currency Exchange on September 27.
27 September 2006 [23:41]

Iran-Azerbaijan energy transfer to increase

Energy Minister Parviz Fattah said here on Wednesday that with the completion of power lines and ongoing projects, the transfer capacity of electricity between Iran and Azarbaijan Republic will increase to 600 MW.
27 September 2006 [23:14]

Azerenergy supplies electricity for 18 regions with interruptions

As from today, Azerenergy OJSC has begun to supply electricity for 18 regions with interruptions.
27 September 2006 [10:29]

Taxes Ministry finds irregularities in 25 425 trade facilities

Taxes Ministry Operational Control Department have to date examined 108 822 various kinds of trade facilities and found serious irregularities in 25 425 of them.
27 September 2006 [10:26]

Favorable balance of trade constituted $312.2mn in Azerbaijan in January-August

Favorable balance equaled $312 274 700 in exports and imports of Azerbaijan during January-August of the year.
27 September 2006 [09:59]

Shell interested in trans-Turkey pipeline

Royal Dutch Shell said yesterday it had signed a deal with Turkey's Calik Energy and Italy's ENI on its possible participation in a trans-Turkey oil pipeline project.
27 September 2006 [09:45]

Ramiz Hasanov: "Penalties and sanctions for irregularities in foodstuffs production are very soft"

Producers are independent in exporting Azerbaijani-made goods to European market.
27 September 2006 [09:41]

Hand-over test of Barmek to be completed in 15 days

Hand-over test in Barmek by the Government of Azerbaijan is expected to be completed in 15 days, Economic Development Minister Heydar Babayev said.
27 September 2006 [09:00]

Tariff Council may increase fare in public transportation

Tariff Council is going to make decision on the fare of public transportation this week.
26 September 2006 [20:20]

Trades at BICEX

The weighted average exchange prices made up 0.8755 AZN for 1 US dollar in the Baku Interbank Currency Exchange on September 26.
26 September 2006 [20:10]

Russians complete takeover of Armenian power grid

After months of negotiations Russia's national electricity company completed late Tuesday its controversial purchase of Armenia's power distribution network that will boost the already strong Russian presence in the Armenian energy sector.
26 September 2006 [19:40]

Dubai Chamber of Commerce and Industry Head meets Azeri Consul

To enhance the bilateral relations between Dubai and Azerbaijan, Abdul Rahman G. Al-Mutaiwee, Dubai Chamber of Commerce and Industry Director General, received Parviz Ismailzadeh, Azeri Consul General to Dubai.
26 September 2006 [19:36]

Azerbaijan is making steady progress in developing its telecommunications sector, but still faces numerous problems

Research and Markets has announced the addition of "2006 Central Asian Telecoms Statistics and Market Overview" to their offering.
26 September 2006 [15:03]

Inflation rate in Azerbaijan to be one-digit as Government forecasted

One-digit inflation rate forecasted by the Government will remain effective by this year's end.
26 September 2006 [13:55]

Azeri, Turkish and Georgian Transport Ministers to meet in Baku

Next meeting of Turkish, Azerbaijani and Georgian Transport Ministries will be held in Baku in October within the frames of Kars-Akhalkalaki-Tiflis-Baku railway project.
26 September 2006 [13:44]

Deputy Minister of Industry and Energy meets Korean delegation

Gulmammad Javadov, Azerbaijan Deputy Minister of Industry and Energy met with Nam ?hang Hyun, head of the metal and petrochemical group of Korean Commerce, Industry and Natural Resources Ministry and his accompanying delegation.
26 September 2006 [13:41]

Conference on foodstuffs' quality held in Baku

Economic Development Ministry hosted a scientific and practical conference examining how to increase the quality of foodstuffs in Azerbaijan.
26 September 2006 [13:35]

EBRD opens regional center in Tbilisi

The European Bank for Reconstruction and Development (EBRD) has established a regional center in Tbilisi, which will cover the Bank's activities in the Caucasus, Moldova and Belarus, the EBRD said on September 25.
26 September 2006 [10:23]

Azeri delegation to attend Istanbul TRACECA workshop

Workshop for TRACECA member states' transportation bodies will take place in Istanbul on November 2-3 within Regulation of Hazardous Cargo Transportation.
26 September 2006 [10:22]

Amendments to Tax Code submitted to President's Office

Amendments to the Tax Code proposed by the Taxes Ministry of Azerbaijan were submitted to the President's Office.
26 September 2006 [10:17]

Turkish and Azerbaijani Communication Ministries sign letter of intent

Azerbaijani Minister of Communication and Information Technologies Ali Abbasov visited Turkey at the invitation of his Turkish counterpart Binali Yildirim.
26 September 2006 [10:01]

Signs of new gold, copper and nickel deposits discovered in Azerbaijani regions

Signs of new gold, copper and nickel deposits have been discovered in Azerbaijani western regions of Gadabey, Khanlar and Dashkesen.
26 September 2006 [09:48]

Azerenergy plans to install 600 000 cable meters by this year's end

Over 150 000 electric meters were installed throughout the country.
26 September 2006 [09:37]

Finance Ministry's T-bills to be held at BSE

Auction on placement of T-bills with the state registration number 10502813S will be held at Baku Stock Exchange tomorrow.
25 September 2006 [22:52]

Cabinet of Ministers discusses 2007 Budget Draft

The meeting of the Cabinet of Ministers presided by Prime Minister Artur Rasizadeh took place on September 25. The discussions at the meeting revolved around the 2007 draft state budget, conception and forecast of development of Azerbaijan Republic for 2007 and the next 3 years.
25 September 2006 [21:48]

CAREC Programme's participating countries to discuss regional cooperation

Ministers from Azerbaijan, Afghanistan, Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan and Uzbekistan will discuss ways of further expanding regional cooperation at the fifth meeting of the Central Asia Regional Economic Cooperation (CAREC) Programme's participating countries due to take place on October 20 in Urumqi, China.
25 September 2006 [21:45]

Trades at BICEX

The weighted average exchange prices made up 0,8754 AZN for 1 US dollar in the Baku Interbank Currency Exchange on September 25.
25 September 2006 [21:37]

Baku hosts ECO Transit Transport Coordination Council's meeting

The First Meeting of the Transit Transport Coordination Council (TTCC) of the Organization for Economic Cooperation for implementation of Transit Transport Framework Agreement (TTFA) began September 25 in Baku.
25 September 2006 [21:34]

Draft State Budget 2007 submitted to President after discussion

Today the Cabinet of Ministers met to discuss the Draft State Budget for 2007 submitted by the Finance Ministry.
25 September 2006 [21:21]

Iranian company participates in Khachmaz power plant

Iranian Sun Energy Company will participate in implementing a power plant project in the Azeri city of Khachmaz situated 160 kms to the north of capital Baku.
25 September 2006 [15:05]

Some 2 100 small state enterprises privatized in Azerbaijan

2 100 small state enterprises and facilities have been privatized since early year.
25 September 2006 [12:45]

Azerenergy warns 18 regions

Azerenergy OJSC warned 18 regions that they hadn't paid the gas bill completely.
25 September 2006 [11:24]

Foreign companies do not comply with their commitments

"The oil companies and other strategic enterprises operating in Ali Bayramli do not pay tax to the local budget but pay taxes in centralized form which results in the city’s needing subsidy from the center," saud MP Azay Guliyev.
25 September 2006 [11:19]

Georgia purposely delays Kars-Akhalkalaki-Tbilisi-Baku railway construction

"Georgia purposely delays the construction of the Kars-Akhalkalaki-Tbilisi-Baku railway line," said Turkish Foreign Ministry high ranking official.
25 September 2006 [09:20]

Oil slumps below $60

Oil prices fell to a six-month low under $60 a barrel on Monday as BP's move to restore output at Prudhoe Bay earlier than expected added to a sense of healthy, secure supplies, while demand growth questions loomed large.
25 September 2006 [08:56]

U.S. Senate panel blocks US funding for Turk-Azeri railroad

Backed by US Armenians, measure bans US Export-Import Bank loans for Kars-Tbilisi-Baku railway bypassing Armenia.
24 September 2006 [16:23]

SOCAR reps participated in oil exhibition Tabriz

Representatives of the State Oil Company attended the "Oil, gas and oil products" exhibition in Tabriz, Iran.
24 September 2006 [15:01]

Iran, Kazakhstan explore new avenues for developing bilateral ties

Bilateral trade, economic and cultural relations between Iran and Kazakhstan are dynamically developing.
24 September 2006 [12:53]

Azerbaijan's Parliament discussing customs deal to be signed with Moldova

The Milli Majlis is now discussing the customs agreement to be signed between Azerbaijan and Moldova.
23 September 2006 [11:58]

LG to explore Kazakh oilfield

South Korean trading house LG International will begin exploring an oilfield in Kazakhstan next month, the company said in a regulatory filing.
23 September 2006 [11:28]

Electricity of Lenkeran likely to be cut off

"Electricity supply to Lenkeran may be cut off unless any improvement is made in collection of bills," said Lenkeran Electricity Supply Department Director Gilman Rzayev.
23 September 2006 [01:34]

Wartsila supports Azeri wrestlers

Participation of Azerbaijani national team on in the European Championship held in Germany was possible thanks to the support of Baku Bureau of Finnish Vartsila Company, the Azerenergy SC said.
23 September 2006 [01:14]

U.S. expert: "Those playing Caspian Basin energy game may suffer from 'irrational exuberance'"

Policymakers are suffering from "irrational exuberance" when it comes to Caspian Basin energy issues, a US expert on the region says.
23 September 2006 [01:04]

President Aliyev: "Azerbaijan key to European energy security"

"Azerbaijan has turned into a major oil producer and this is of great importance for European energy security," President Ilham Aliyev told the International Bertelsmann Forum in Berlin, Germany on Friday.
23 September 2006 [01:01]

Azeri state oil company to invest in Georgia

Azerbaijan's state oil company SOCAR plans to implement new investment projects soon, a source from the company said.
23 September 2006 [00:59]

SOCAR to tap Caspian field on its own

Azerbaijan's state oil company SOCAR plans to tackle development of the Karabakh field in the Caspian Sea at its own expense, oil executives say.
23 September 2006 [00:48]

State oil company reports on 2005 financial performance

SOCAR made a profit of 1.2bn new manats ($1.36bn) in 2005, says its financial report for 2005 covering its profit, budgetary contributions, debt and other indicators.
22 September 2006 [16:46]

Sabir Aliyev: "That European States banned Azeri nut exports is false"

Information that European Countries banned walnut and hazelnut exports of Azerbaijan is false.
22 September 2006 [15:42]

Securities Committee chairman gives media briefing on January-August

Today chairman of Azerbaijan's State Committee on Securities, Gunduz Mammadov, gave a press conference on the activities carried out during January-August.
22 September 2006 [15:39]

Oil leaks into Shirvan water collection in Ali Bayramli

Oil leaked from the pipeline crossing Ali Bayramli into Shirvan water collection, Huseynov Khaligverdi, Ali Bayramli Ecology and Natural Resources department chief told.
22 September 2006 [15:31]

Some Azerbaijani drugstores sell medicine smuggled from Georgia

Azerbaijani Health Ministry's Innovation and Procurement Center raided drugstores in Tovuz, Agstafa and Gazakh regions.
22 September 2006 [11:25]

Zarifa Aliyeva Vessel to be launched Sep. 26

The seventh dry-cargo vessel built in Volgograd Shipyard on the order of PALMALI Group of Companies will be launched on September 26.
22 September 2006 [11:21]

Trades at BICEX

The weighted average exchange price made up 0.8760 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange.
22 September 2006 [11:16]

U.S. Department of State and Azerbaijani MCIT conclude preliminary MOU

Preliminary Memorandum of Understanding was signed between U.S. Department of State and Azerbaijani Ministry of Communication and Information Technologies (MCIT).
22 September 2006 [10:16]

1H06 profits of enterprises rose by 39% in Azerbaijan

Enterprises and institutions (excluding agricultural ones) operating in Azerbaijan have gained an income of AZN 1323.8mn and have had a deficit of AZN 155.6 mn in the first half of this year.
22 September 2006 [10:07]

Incomes and expenditures of the State Budget of Azerbaijan increase by 88.5% and 66.2% respectively

The incomes of the State Budget of Azerbaijan increased by 88.5% during January-July as against the same period last year and equaled AZN 2 077.7 mn.
22 September 2006 [09:52]

SOCAR announces tender for export of REBCO crude oil

SOCAR Marketing and Business Operations Department has announced a tender on the export of 1mn barrel of REBCO crude oil through Novorossiysk port.
22 September 2006 [09:44]

Communications services increased by 25% in Azerbaijan

Communications services of AZN 345.9mn were provided for the legal entities and individuals in Azerbaijan during January-August.
21 September 2006 [15:32]

Registration fee of domain names to be decreased by 1.5 times

Registration fee for the Internet Address (domain names) will be decreased by 1.5 times, Intrans Provider director general Faig Farmanov said.
21 September 2006 [13:59]

New banknotes constitute 90% in circulation in Azerbaijan

New banknotes make 90 percent in the circulation in Azerbaijan now.
21 September 2006 [09:58]

EurasiaNet: Whither Azerbaijan's oil profits?

Today marks the 12th anniversary of the signing of the "deal of the century" that brought the Baku-Tbilisi-Ceyhan pipeline into being.
21 September 2006 [09:49]

Azercell's chief meets with volleyball club's players

Azercell Telecom JV Director General Halim Atesh met with Rabita volleyball club's players.
21 September 2006 [09:47]

Auction on placement of NBA's notes held at BSE

Auction on placement of short-term notes of National Bank of Azerbaijan with the state registration number 50103812S was held at Baku Stock Exchange on Wednesday.
21 September 2006 [09:46]

Azerbaijan to continue cooperation with IMF and WB

Azerbaijan's Finance Minister Samir Sharifov met with IMF's reprehensive Augustine Carstens and World Bank's representative Greyem Weller in Singapore.
21 September 2006 [09:31]

Azersu announces tender

Azersu OJSC has announced a tender for consulting service in Oghuz-Gabala-Baku Water Pipeline Project.
21 September 2006 [09:30]

Capital flow to Azerbaijan increasing

The Azerbaijan SME Support through Financial Sector Development Project held a half-day workshop on USAID's Development Credit Authority (DCA) Guarantee Program.
20 September 2006 [20:12]

Hydrocarbon boom sparks fears of Dutch disease in Azerbaijan

Twelve years ago today, against a background of euphoric predictions of booming national wealth, Azerbaijan signed its first major oil contract with a Western company.
20 September 2006 [19:54]

USAID Caucasus regional mission head replaced

The head of the USAID Caucasus regional mission has been changed.
20 September 2006 [19:48]

Delegation of the US-Azerbaijan Chamber of Commerce to visit Baku

The delegation of the US-Azerbaijan Chamber of Commerce led by its Chairman James Baker will arrive in Baku on October 1, press service of Azerbaijan's Ministry of Economic Development said.