Business

06 April 2009 [09:26]

Azerbaijani-Lithuanian business forum to be held in Baku

The Azerbaijani-Lithuanian forum will be held in the capital of Azerbaijan-Baku on April 7-8, according to AzerTac.
06 April 2009 [08:46]

Azerbaijan International Bank becomes most stable credit institution in Europe amidst global financial crisis

Board of Directors of the Brussels-based European Economic Chamber of Trade, Commerce and Industry (EEIG) announced the Azerbaijan International Bank (AIB) as the most stable credit institution in Europe amidst global financial crisis, AIB told APA-ECONOMICS.
04 April 2009 [10:29]

OFID considers cooperation in non-oil sector of Azerbaijan

The Azerbaijani Ministry of Economic Development suggested the OPEC Fund for International Development participating in financing of projects implemented through the Azerbaijani Investment Company and the National Entrepreneurship Support Fund, the Ministry said on April 3.
03 April 2009 [13:18]

Lithuanian Trade House to be opened in Baku: ambassador

Lithuanian Foreign Minister Vigaudas Ushatskas will open Lithuanian Trade House in Baku, Lithuanian Ambassador to Azerbaijan Kestutis Kudzmanas told Trend News on April 3.
03 April 2009 [10:30]

British companies ready to assist in supplies of Azerbaijani agricultural production to world markets

A meeting with delegations of the British companies Oxfham and Unilever was held in the standing commission on agrarian policy of Milli Medjlis, according to the press service for Milli Medjlis.
03 April 2009 [10:23]

President of Azerbaijan receives delegation led by director general of OPEC fund for international development

President Ilham Aliyev received a delegation led by Suleiman Al-Herbish, Director General of OPEC Fund for International Development. Suleiman Al-Herbish spoke about meetings he held in Baku.
02 April 2009 [17:10]

It is two years since the commercial launch of Nar Mobile

Nar Mobile has 20% market share in local GSM market by gaining tremendous achievements within the short period of time.
02 April 2009 [15:25]

Caspian littoral countries’ transport ministers meet in Baku - UPDATED

The first session of the Transport Ministers of the Caspian states in Baku ended in signing a final communique, Transport Minister of the country Ziya Mamedov told reporters.
02 April 2009 [12:13]

Azerbaijan's non-oil sector grows 14% this year

Azerbaijan's non-oil sector grew 14% within two months of this year, said head of the administration of the Ministry of Economic Development Samir Veliyev, according to Novosti-Azerbaijan.
02 April 2009 [09:35]

Azerbaijan is among countries least affected by global financial crisis: Finance Minister

"Azerbaijan is among the countries least affected by financial and economic crisis not only in the CIS area but also in the world, said Finance Minister of Azerbaijan Samir Sharifov, according to AzerTac.
01 April 2009 [08:59]

Russian Finance Minister: "The global crisis was felt least in Azerbaijan, where volume of investments and economy are growing"

CIS states should allot from 1 to 3% of GDP for support of banking sector, said Finance Minister of Russia Alexi Kudrin at a meeting with Finance Ministers of the CIS states, according to Reuters.
31 March 2009 [17:30]

Inflation drops 5.4% in Azerbaijan February

Sources from the National Bank report that in February inflation on Azerbaijan made 10.3%, according to AzerTac.
31 March 2009 [15:44]

Vagif Sharifov: "Europe should hurry with Nabucco"

Today Nabucco project is actively discussed and spoken of in most countries and its advantage is that it will establish competitive prices on gas, said economic expert Vagif Sharifov.
31 March 2009 [12:40]

Baku hosts Azerbaijani-German business forum

Baku is hosting a business forum on March 31, bringing together Azeri and German businesspeople with support from Azerbaijan’s Ministry of Economic Development and Azerbaijan Export and Investment Promotion Foundation (AzPromo).
31 March 2009 [09:19]

Azerbaijan to attend session of Council of Business women under OEC Trade and Industrial chamber

Azerbaijan will be represented in the first session of Council of Business women of OEC Trade and Industrial chamber, according to Turkish ANKA news agency.
30 March 2009 [17:20]

Azerbaijan, France interested in continuing agricultural projects

Azerbaijan and France are interested in enhancing cooperation in the agricultural sector, Azerbaijani Deputy Agriculture Minister Bahram Aliyev said.
30 March 2009 [17:19]

Azerbaijan, Korea to launch rice production

Azerbaijan together with Korean specialists will begin production of rice in Shaki region.
30 March 2009 [14:38]

Russia accounts for 17% Azerbaijani import since early this year

Through two months of this year Russia accounted for 17% of Azerbaijani import, sources in the State Customs Committee told Novosti-Azerbaijan.
30 March 2009 [14:01]

Oil products share in Azerbaijan's export makes 10.2% since early this year

Through two months of this year the share of oil products in the overall volume of Azerbaijani export made 10.2%, sources in the state customs committee told Novosti-Azerbaijan.
30 March 2009 [13:20]

Memo of understanding signed between Gazprom and SOCAR

A work meeting of the chairman of Gazprom Alexei Miller and president of the State Oil Company of Azerbaijan Rovnag Abdullayev was held in Moscow.
30 March 2009 [13:01]

Musa Panakhov: "Execution of the idea of a bridge via Baku bay should be expected no earlier than the coming five years"

The transport Ministry continues implementation of all the projects, launched in the past years, said deputy Minister of Transport of Azerbaijan Musa Panakhov.
30 March 2009 [12:14]

Azerbaijan-Kuwait investment company launched

The authorized capital stock of the Azerbaijan-Kuwait Investment Company (KAIC) will reach 20 million manat in two years.
30 March 2009 [10:00]

Azerbaijani-German business forum to be held in Baku

Baku will host the Azerbaijani-German business forum on March 31, AzerTac reports.
29 March 2009 [16:41]

License of another securities market participant canceled in Azerbaijan

The Azerbaijan State Securities Committee (SSC) canceled the license of the Iron Investments Azerbaijan Ltd.
29 March 2009 [14:05]

Pipeline from Iran to Armenia politically and economically unprofitable: Azerbaijani oil and gas expert

Baku considers that the idea of laying pipeline from Iran to Armenia is both politically and economically unfavorable.
29 March 2009 [10:24]

Azerbaijan, Qatar to sign agreement on military cooperation

Azerbaijani Defense Minister Safar Abiyev left for an official visit to Qatar Saturday.
29 March 2009 [09:22]

Gazprom in talks on Azeri gas purchase

Russia's Gazprom said Friday it was in talks to buy gas from Azerbaijan in a move that could undermine attempts by European countries to diversify their sources of energy, AFP reported.
19 March 2009 [17:36]

President of Azerbaijan receives French state secretary on external trade

President of Azerbaijan Ilham Aliyev received Friday Anne-Marie Idraque, the state secretary on external trade of France and co-chair of the joint French-Azerbaijani economic commission, according to the official website of the country's president.
19 March 2009 [17:22]

Azerbaijan-Kazakhstan intergovernmental commission to hold next session

The next session of the Azerbaijan-Kazakhstan intergovernmental commission on economic cooperation will be held in April-May of 2009, said Kazakh ambassador to Azerbaijan Serik Primbetov at a press conference Thursday.
19 March 2009 [12:04]

Oil products supplies to internal market decline in Azerbaijan in 2009

The supplies of oil products to the internal market of Azerbaijan made 937,400 tons in January-February of 2009, which is 37.4% lower as compared to the same period of the last year, according to sources in the State Statistical Committee, Interfax-Azerbaijan reports.
19 March 2009 [11:45]

Volume of cargo transportation grows in Azerbaijan this year

The volume of cargo transportation made 26.9 mln tons in January-February of 2009 which is 0.4% higher over the same period of the last year, according to sources in the state statistical committee of the country, Interfax-Azerbaijan reports.
19 March 2009 [09:56]

Azerbaijan and Austria discussed the prospects of "Nabucco" gas pipeline

Azerbaijani Minister of Industry and Energy Natik Aliyev discussed issues of mutual cooperation in energy, in particular the prospects of the project pipeline "Nabucco", to export gas from Central Asia and the Caspian region to Europe with the Federal Minister of Economics and Labor of Austria Reinhold Mitterlenerom.
17 March 2009 [16:19]

Azerbaijan may transit Russian gas to Iran after reconstruction of infrastructure: SOCAR

The reconstruction of a pipeline and extension of existing compressor stations will allow to transit gas to Iran via the territory of Azerbaijan, State Oil Company of the Azerbaijani Republic (SOCAR) President Rovnag Adullayev said on March 17.
17 March 2009 [16:01]

Prices of industrial goods drop in Azerbaijan in 2009

Through two months since the beginning of this year prices on industrial production in Azerbaijan dropped 2.2%, Novosti-Azerbaijan reports with reference to sources in the State Statistical Committee.
17 March 2009 [14:10]

Favorable conditions for business in Azerbaijan

Deputy chairman of the Azerbaijan-Turkey Businessmen Association (ATIB) Jemal Yanghin considers that Azerbaijan has favorable conditions for activity of entrepreneurs.
17 March 2009 [12:57]

GDP growth makes 3.4% in Azerbaijan in 2009

In January-February of this year, GDP growth in Azerbaijan made 3.4%, according to sources in the State Statistical Committee, Novosti-Azerbaijan reports.
16 March 2009 [15:00]

Communication services grow in Azerbaijan

In January-February Azerbaijani organizations and population received services in the amount of AZN 123,200,000, which is 1,8% higher than the indicators of the same period of 2008, according to the State Statistical Committee.
16 March 2009 [12:01]

International youth festival starts on occasion of Novruz

The international festival on Novruz will be held in Azerbaijan with participation of young people from more than ten countries, according to the press service for the Ministry of youth and sports Monday, according to Interfax-Azerbaijan.
14 March 2009 [13:54]

SOCAR transfers over 1,000,000 tons of oil for refining this year

In January-February of this year the State Oil Company of Azerbaijan transferred 1,007,820 tons of oil for refining in January-February of this year, according to SOCAR's press service, Novosti-Azerbaijan reports.
14 March 2009 [12:31]

Strong macroeconomic potential created in Azerbaijan: NBA Chairman

In spite of the intensifying of the global crisis since August 2008, the growth rates in the Azerbaijan economy demonstrated two-figure increase, said the Chairman of the Board of the National Bank of Azerbaijan Elman Rustamov on March 13.
14 March 2009 [11:30]

Azerbaijan Tax Ministry suspends exit control through time-keeping

Azerbaijani Tax Ministry suspended the exit tax control through time-keeping with taxpayers engaged in certain activities in order to prevent the possible influence of the financial crisis on the country.
14 March 2009 [10:47]

First Vice Premier: "There is a plan to reduce poverty level of population to the level of economically developed countries by 2015 in Azerbaijan"

"In 2008 GDP of Azerbaijan made AZN 38 bln growing 10.8% as compared to 2007, said first vice premier Yagub Eyubov making a report of the Azerbaijani government by results of the socioeconomic development of the country in 2008.
13 March 2009 [18:19]

Oqtay Asadov: "In 2008 economic growth in Azerbaijan made 11%"

Last year the economic growth in Azerbaijan made 11%, said Milli Medjlis speaker Oqtay Asadov at a plenary session of the parliament on discussion of the report of the Azerbaijani government by results of the socioeconomic development of the country in 2008.
13 March 2009 [14:35]

Azerbaijani, Russian governments to ink agreement to protect and promote mutual investments

The Azerbaijani and Russian governments plan to sign an agreement to protect and promote mutual investments, Russian Ambassador to Azerbaijan Vasiliy Istratov told journalists on March 13.
12 March 2009 [17:53]

Azerbaijan's January external commodity turnover makes $1.2 bln

In January of this year Azerbaijan conducted export and import operations with 92 countries in the amount of $1.2 bln, according to sources in the State Statistical Committee, according to Novosti-Azerbaijan.
12 March 2009 [13:30]

Azerbaijan, Lithuania to discuss energy security

Lithuanian Foreign Minister Vygaudas Ushatskas will discuss energy security cooperation between Azerbaijan and Lithuania in Baku, Lithuanian Ambassador to Azerbaijan Kestutis Kudzmanas told Trend News on March 11.
12 March 2009 [13:26]

Population gets consumer goods of AZN 1.8 bln in Azerbaijan in January-February

Through two months since the beginning of this year Azerbaijani population got consumer goods in the amount of AZN 1.8 bln ($2.2 bln under the exchange rate of AZN 0.805 per dollar), said sources in the State Statistical Committee, according to Novosti-Azerbaijan.
12 March 2009 [13:20]

Laboratory on analysis of genomodified foodstuffs suggested in Azerbaijan

Chairman of the Union of Free Consumers Union Eyub Huseynov considers that it is necessary to open a lab on the analysis of genomodified foodstuffs in Azerbaijan.
12 March 2009 [13:11]

Prices on tourism services cut in Azerbaijan

Fight for tourists has intensified between Azerbaijani hotels due to drop in prices on tourism services, said Minister of Culture and Tourism Abulfaz Garayev at the Baku Information Center Thursday.
12 March 2009 [12:29]

First meeting of Union of Azerbaijani, Ukrainian Presidents to be held in Baku

The first meeting of the Union of Azerbaijani and Ukrainian Presidents will be held in Baku during Ukrainian President Viktor Yushchnko's visit to Azerbaijan.
12 March 2009 [10:07]

Works will be resumed on Baku-Tbilisi-Kars railroad

The restoration of land works in Georgia in the framework of the construction of the Baku-Tbilisi-Kars railroad is expected from March 15.
10 March 2009 [17:37]

Azerbaijan processes over 1 mln tons of oil this year

In January-February of 2009 Azerbaijan processed 1,025,130 tons of oil, said the press service for the State Oil Company of Azerbaijan, according to Novosti-Azerbaijan.
10 March 2009 [14:38]

British FM: "Ukraine, Belarus and Azerbaijan should join efforts to ensure EU energy security"

British Foreign Minister David Miliband delivered a lecture on "European Union in present century" at the London economic school, according to Turkish Cihan news agency.
07 March 2009 [09:48]

Azerbaijani delegation to attended forum on Eurasian economic security in Kazakhstan

On March 11-12 "The Economic club of Eurasian scientists", Ministry of Economic and Budget Planning and Institute of Economic Studies of Kazakhstan will hold the second economic forum on "The Eurasian economic security in the system of global risks" in Astana, according to AzerTac.
06 March 2009 [18:31]

IMF: Economic recession may last until 2010

The world’s rich economies are shrinking at rates not seen since the Second World War and the downturn may last into 2010, justifying unprecedented policy responses, said an International Monetary Fund official said.
06 March 2009 [16:46]

Azerbaijan ranking 4th on minimal pensions among CIS and Baltic states

Azerbaijan is ranking fourth among the CIS and Baltic states by the minimal pension, according to chairman of the State Fund of Social Protection of Azerbaijan Salim Muslimov, reports Novosti-Azerbaijan.
06 March 2009 [11:53]

Davud Mamedov: "The increase in the gas production in the country led to reduction in the black oil demand"

SOCAR Vice President for Refinery, Davud Mammadov, spoke with Trend Capital in an exclusive interview:
05 March 2009 [16:38]

Azerbaijan ranks up in new tourism index

Azerbaijan with a score of 3.84 has moved up three ranks from last year to share 76-77 places with Ukraine among 133 countries, according to the third annual Travel & Tourism Competitiveness Report, published by the World Economic Forum.
05 March 2009 [13:19]

Air communication to open between Saint-Petersburg and Ganja

Second larger cities of Azerbaijan and Russia - Ganja and Saint-Peterburg will be bound with air communication.
05 March 2009 [13:09]

Baku to discuss prospects of cooperation between Azerbaijan and France

Prospects of cooperation between Azerbaijan and France will be discussed at the session of the intergovernmental commission on economic cooperation Azerbaijan-France to be held in Baku on March 19, said French ambassador to Azerbaijan Gabriel Keller, according to Novosti-Azerbaijan.
04 March 2009 [12:11]

Baku-Novorossiysk pipeline exports 385,640 tons of oil

In January-February of this year the Novorossiysk port of Russia exported 385,640 tons of Azerbaijani oil, according to the press service for the State Oil Company of Azerbaijan, Novosti-Azerbaijan reports.
03 March 2009 [16:33]

Non-oil GDP grows 2.8% in Azerbaijan

The non-oil GDP of Azerbaijan grew 2.8% in January, according to sources in the National Bank, Novosti-Azerbaijan reports.
03 March 2009 [10:06]

Session of European Commission of World Tourism Organization to be held in Baku

The next 49th session of the European commission of the World tourism organization will be held in Baku on March 24-26, according to AzerTac.
02 March 2009 [16:01]

Sea cargo transport up 31% in Azerbaijan in January

Cargo shipments via sea saw a 30.8-percent increase in January of this year, having stood at 893,000 tons of goods, according to Azerbaijan`s State Statistical Committee.
02 March 2009 [13:56]

Swiss company purchases next Azeri oil shipment from Novorossiysk

SOCAR Department of Marketing and Economic Operations has completed the marketing poll on expert of REBCO Azeri oil shipment, sixth in 2009, from the port of Novorossiysk (Russia), according to the department, Novosti-Azerbaijan reports.
27 February 2009 [15:47]

Elman Rustamov: "Manat devaluation in Azerbaijan not actual"

The National Bank of Azerbaijan is planning to ensure stability of the national currency rate, said chairman of the National Bank of Azerbaijan at a press conference Friday.
27 February 2009 [14:37]

Elman Rustamov: "Inflation of 5-6% is optimal for Azerbaijan for 2009"

Chairman of the National Bank of Azerbaijan Elman Rustamov considers inflation of 5-6% to be optimal for 2009.
27 February 2009 [13:42]

Investments in Azerbaijan’s oil and gas contracts amount to $30 billion: SOCAR head

Investments in Azerbaijan's 27 oil and gas contracts which were signed with foreign companies amounted to $30 billion, State Oil Company of Azerbaijan Republic (SOCAR) President Rovnag Abdullayev told journalists on Feb. 27, according to Trend Capital.
27 February 2009 [12:48]

Azerbaijan re-imposes VAT on wheat and flour imports from April 1

Azerbaijan will re-impose the Value Added Tax on food wheat and flour imports from April 1 a year after the tax was scrapped, said Ismat Abasov, Minister of Agriculture.