Business

20 April 2007 [08:46]

National Teleradio Council checks "Day.Az Radio"

National Teleradio Council started checks with online "Day.Az Radio".
20 April 2007 [08:04]

Unsafe products withdrew from market

A great number of unsafe products were withdrawn from the sales in Azerbaijan, said Consumer Market Control Service.
19 April 2007 [22:25]

Black Sea states, neighbors plan joint projects

The countries sharing the shores of the Black Sea and a few neighboring states announced plans Thursday to bolster economic and other cooperation in their oil-rich region, including a construction of a "ring road" around the sea.
19 April 2007 [22:11]

Ernst&Young ends audit of Barmek

Ernst&Young company ended auditing in Barmek-Azerbaijan Electricity Distribution LLC.
19 April 2007 [21:52]

Trial on case of Barmek officials fixed to April 30

Preliminary court proceeding on case of president of Barmek-Azerbaijan Electricity Distribution LLC Huseyn Arabul and seven more company officials, who are accused of abuse of power, embezzlement and negligence of court judgements, continues.
19 April 2007 [21:37]

Poti-Odessa and Poti-Istanbul subsea cables to be laid

It is slated to lay Poti (Georgia)-Odessa (Ukraine) and Poti (Georgia)-Istanbul (Turkey) cables in the short run.
19 April 2007 [21:34]

BTC Co shareholders stop pumping oil via Baku Novorossiysk and Baku-Batumi routes

The shareholders of Azerbaijan International Operating Company (AIOC), which have a stake in BTC Co, have reoriented all the oil coming from Azeri-Chirag-Guneshli through Baku-Tbilisi-Ceyhan pipeline. All theses companies have stopped exporting oil via Baku Novorossiysk and Baku-Batumi routes.
19 April 2007 [21:27]

BTC Co shareholders stop pumping oil via Baku Novorossiysk and Baku-Batumi routes

The shareholders of Azerbaijan International Operating Company (AIOC), which have a stake in BTC Co, have reoriented all the oil coming from Azeri-Chirag-Guneshli through Baku-Tbilisi-Ceyhan pipeline.
19 April 2007 [14:23]

Turkey to host meeting of Black Sea Economic Cooperation (BSEC) heads of government

The meeting of the heads of government of the Black Sea Economic Cooperation (BSEC) member countries is to be held in Turkey on June 25, BSEC deputy general-secretary Andrei Urnov told.
19 April 2007 [14:09]

Azerbaijan medicine market witnessed 25 percent price rise

Price rise of recent months in Azerbaijan impacted country's medicine market.
19 April 2007 [09:00]

Baku-Tbilisi-Kars continues on schedule

"The documentation of Baku-Tbilisi-Akhalkalak-Kars railway project is to be completed," Azerbaijan's Transport Minister Ziya Mammadov told the journalists.
19 April 2007 [08:58]

SOCAR to prevent construction of houses near oil wells

State Oil Company of Azerbaijan (SOCAR) will take complex measures to prevent construction of houses near oil wells.
19 April 2007 [08:57]

Azeri reps attends spring session of American Bar Association

Chief of Antimonopoly State Service Samir Dadashov and official for analytic-information sector of the service Elshad Mammadov attend the 55th spring session of American Bar Association in Washington.
19 April 2007 [08:56]

Baku-Supsa oil pipeline to be commissioned this year

Baku-Supsa oil pipeline will be commissioned by the end of this year.
19 April 2007 [08:55]

SOCAR and DAAD sign joint scholarship program

State Oil Company of Azerbaijan (SOCAR) and German Academic Exchange Service (DAAD) signed joint scholarship program.
19 April 2007 [08:51]

Subway fares will not rise

"The IDPs settled in Binagadi district will be replaced in the regions in which they were registered. Every IDP has temporary registered address," said Baku Underground's chief Taghi Ahmadov. According to him refugees settled there illegally.
19 April 2007 [08:17]

Azerbaijan's reps to attend next session of ILC

Geneva will host the 97th conference of International Labour Conference (ILC) from June 10 to 16.
19 April 2007 [08:14]

VTB Bank Europe, UniBank ink $15mln syndicated loan deal

On 16 April, Azerbaijan's Unibank and VTB Bank Europe plc launched syndicated loan facility for $15mln with split tranches of 12 and 15 months.
19 April 2007 [08:13]

Yapi Kredo Bank Azerbaijan gets 32% growth in assets

As at April 1, Yapi Kredo Bank Azerbaijan raised its assets to AZN 56,491,510, up 32% from the same period last year.
19 April 2007 [08:11]

World Bank to allocate $10m for development of Azerbaijan's stock market

Azerbaijan's State Committee for Securities has submitted new proposals to World Bank in the frame of modernization of financial sector of the country.
19 April 2007 [08:10]

Iranian Transport Minister to visit Azerbaijan

Iranian Transport Minister Mustafa Rahmati is expected to visit Baku in last decade of May.
19 April 2007 [07:58]

Rustamov meets World Bank's official

National Bank of Azerbaijan (NBA) the Chairman of the Management Board Elman Rustemov has received the delegation headed by Christos Kostopoulos, Senior Country Economist of World Bank.
19 April 2007 [07:57]

National Bank chair meets BP-Azerbaijan President

The National Bank board chair Elman Rustamov has today met with the BP-Azerbaijan President Bill Schrader.
19 April 2007 [07:56]

Audit organizations of Azerbaijan to sign agreements with Romania, Poland and Ukraine

Azerbaijan Auditors Chamber (AAC) intends to sign agreements on cooperation with audit-accounting institutions of Romania, Poland and Ukraine.
19 April 2007 [07:55]

Baku to host meeting of Working Group on TAE project

Baku will host the meeting of Working Group on construction of Trans-Asia-Europe (TAE) international fiber-optic cable line from April 19 to 21.
19 April 2007 [07:53]

Azerbaijan's stock market expands steadily, Gunduz Mammadov says

For the first quarter, Azerbaijan's State Committee for Securities registered 22 issues of shares worth AZN 41.8mln and 4 issues of corporate bonds worth AZN 9.7mln.
18 April 2007 [21:55]

Emergencies Ministry bans buildings higher than 12 storeys

Emergencies Ministry bans constructing buildings higher than 12 storeys in the capital Baku, Orujeli Hajiyev, Deputy Emergencies Minister told journalists.
18 April 2007 [21:53]

Cars to be charged for entrance to historical-agricultural monument sites

Azerbaijan's Transport Ministry intends to charge cars for entrance to historical-agricultural monument sites in Baku, said Azerbaijan Road Service Chairman Javid Gurbanov.
18 April 2007 [21:51]

Azerbaijan sends preliminary paperwork to Turkey for Ceyhan Refinery

Azerbaijan has prepared the preliminary paperwork for construction of an oil refinery in Ceyhan Port, said Rovnag Abdullayev, the President of the State Oil Company of Azerbaijan (SOCAR).
18 April 2007 [21:44]

Emergencies Ministry warns to close low-quality concrete producers

BASF Caspian JKS has held the second congress in Baku, examining modern construction and concrete production.
18 April 2007 [21:43]

Azerbaijan, Russia's Ulyanovsk province negotiate to expand relations

Azerbaijan negotiates with Russia for expanding relations with Ulyanovsk province.
18 April 2007 [21:37]

Alat-Astara road being upgraded

The project for upgrading 22 km Section of the Alat Astara Highway (Baku-Astara) has started Wednesday. The project is funded by the government of Azerbaijan ($94mln), the World Bank ($106.1mln) and Asian Development Bank ($200mln).
18 April 2007 [21:20]

Azerbaijan, Korea to sign on Intellectual Traffic Control System in Baku

Within the scope of Azerbaijani president's visit, Azeri Transport Ministry and South Korean Company (SKS) will sign an agreement for installation of Intellectual Traffic Control System in Baku.
18 April 2007 [21:16]

President Aliyev receives OMV chief executive

Azerbaijani President Ilham Aliyev received OMV Executive Board's chairman Wolfgang Ruttenstorfer.
18 April 2007 [21:05]

Azerbaijan amends 500 bus delivery agreement terms

Azerbaijan's Nihad Motors has made some changes to the terms of the agreement with China's ChangAn Motors for delivery of 500 buses to Azerbaijan.
18 April 2007 [21:01]

HotelExpo and AITF-2007 start in Baku

The first Azerbaijan International Hotel Business Exhibition HotelExpo and the fifth Azerbaijan International Travel and Tourism Fair AITF-2007 have started in Baku.
18 April 2007 [21:00]

Azerbaijan seeks manager & consultant for issue and flotation of eurobonds

Azerbaijan's Finance Ministry has announced two contests to find a manager and a legal consultant for the first issue and flotation of eurobonds in the international market.
18 April 2007 [20:48]

Azerbaijan, Georgia and Turkey study prospects of parallel power grid

Azerbaijan, Georgia and Turkey are studying prospects of the idea of connecting the national power systems to operate in parallel.
18 April 2007 [14:36]

Azerbaijan-Russia Intergovernmental commission's meeting postponed

The meeting of Azerbaijan-Russia intergovernmental economic commission scheduled for April 23 has been postponed.
18 April 2007 [13:58]

Azerbaijan improves law on investment funds

Azerbaijan's State Committee for Securities has completed draft law on investment funds and introduced to the exports of the international financial institutions.
18 April 2007 [13:49]

Azerigas cuts off gas supply to 1,675 defaulting customers

Azerigas, State Gas Supply Company, has announced that it has cut off supply to 1,675 defaulting customers since April 16.
18 April 2007 [13:19]

Two IMF missions visiting Baku, Wednesday

Two IMF missions for technical assistance will visit Azerbaijan on Wednesday.
18 April 2007 [12:45]

Azerbaijan, Morocco ink cooperation deal on agriculture

On April 17, the Republic of Azerbaijan and the Kingdom of Morocco signed an agreement of cooperation on agriculture within the scope of Azeri Agriculture Minister Ismat Abbasov's visit to this country at the invitation of Moroccan Agriculture, Rural Development and Fishing Minister Mohand Laenser.
18 April 2007 [12:40]

Preliminary trial on case of Barmek officials postponed

Preliminary court proceeding on case of president of Barmek Azerbaijan Electricity Distribution LLC Huseyn Arabul and seven more company officials, who are accused of abuse of power, embezzlement and negligence of court judgements, continued.
18 April 2007 [10:51]

Transport Ministry develops some new draft normative-legal documents

Azerbaijan's Transport Ministry has developed some draft documents on technical services to vehicles and submitted to relevant state bodies.
18 April 2007 [10:43]

ABTC to organize courses on leadership in bank sector, legislation basis, measures against money laundering

Azerbaijan Bank Training Center will organize courses on "Marketing: new bank products and services" and "Improvement of customers services" in April.
18 April 2007 [10:39]

Draft bill on Financial Controls developed in Azerbaijan

Azerbaijani Accounting Chamber and Finance Ministry have developed draft bill on Financial Controls, Deputy Chairman of the chamber Abbas Allahverdiyev said on Tuesday during the discussions of 2006 Report of the AAC in Parliament.
18 April 2007 [10:39]

Wartsila charges Azerbaijan much more for power plants, claims Azeri MP

Azerenergy, the State Energy Company of Azerbaijan, pays twofold price for Finnish Wartsila Corporation’s multi-fuelled power plants, MP Jamil Hasanli told a parliament session.
18 April 2007 [10:36]

Azeri reps attends 13th international second-hand equipment sale RESALE-2007

The 13th international second-hand equipment sale RESALE-2007 has started in Karlsruhe, Germany.
18 April 2007 [10:35]

Turkey's Privatization Administration Chairman visits Azerbaijan

The delegation headed by Turkey's Privatization Administration Chairman Metin Kilci visits Azerbaijan.
18 April 2007 [10:35]

Kurgan district to open Baku Office

Some enterprises of Russia's Kurgan district have taken profitable orders from Azerbaijan after the presentation of the oblast in Baku.
18 April 2007 [10:30]

Trade turnover between Azerbaijan and Mangistau increased by 20%

Trade turnover between Azerbaijan and Mangistau province of Kazakhstan increased by 20% in 2006, Krimbek Kushembayev, head of Mangistau province of Kazakhstan said at Azerbaijan-Kazakhstan business forum.
18 April 2007 [10:28]

200,000 tons of grain to be shipped to Azerbaijan from Kazakhstan

"Aktau Port's cargo flow mostly includes oil and steel. The shipment flow into and out of the port reached 10mln tons last year," Kazakhstan's Aktau Port deputy Director Dauren Kutpanbayev said.
18 April 2007 [10:25]

ATIB prize "Golden wheel" presented in Philharmonic Society

Presentation ceremony of the prize "Golden wheel" on occasion of the third anniversary of Union of Azerbaijani and Turkish Businessmen (ATIB) was held in Azerbaijan State Philharmonic Society.
18 April 2007 [10:13]

Visa-free travel can be applied between Latvia and Azerbaijan

Latvia appealed to official Baku for allowing visa-free travel for its citizens.
18 April 2007 [10:09]

Azerbaijani students to attend conference on Western Siberia fuel-energy complex

Azerbaijani students will participate at the conference "Modern technologies for Western Siberia's fuel-energy complex", Azerbaijani consul general to St Petersburg Gudsi Osmanov told.
18 April 2007 [09:32]

Russia-Azerbaijan Intergovernmental Commission to adds extra issues to agenda

April 24, Russia - Azerbaijan Intergovernmental Commission for Economic Cooperation will meet in Moscow to discuss a number of issues, Yuri Shedrin, Head of Russia's Trade Office in Azerbaijan, told.
18 April 2007 [09:28]

Seminar on "Role of audit in Azerbaijani economy" to be held

Azerbaijan State Economics University and Azerbaijan Auditors Chamber (AAC) will organize scientific-practical conference on "Role of Audit in Azerbaijani economy".
18 April 2007 [09:16]

Azerbaijan attracts more tourists from Japan, South Korea and China

Nowadays, Azerbaijan attracts more and more tourists from Japan, South Korea and China.
18 April 2007 [08:40]

Baku holds roundtable on "spending of oil revenues: competition policy or industrial policy"

April 18, with the support of the U.S. Agency for International Development (USAID), the Eurasia Foundation and the Foundation for Assistance to Entrepreneurship will launch a one-day roundtable on "Spending of Oil Revenues: Competition Policy or Industrial Policy" to promote transparency and efficient use of oil revenues.
18 April 2007 [08:35]

Baku hosts Azerbaijan-Poland business-forum

Baku has today hosted Azerbaijan-Poland business-forum.
18 April 2007 [08:34]

Azerdemiryolbank expands spectrum of microcredit program

Azerdemiryolbank intends to enlarge the geography of its micro loan lending program, by opening branches in Yevlakh, Aghdash, Zagatala, Goychay and Bayil.
17 April 2007 [21:14]

Trades at BICEX, Apr. 17

The weighted average exchange prices made up 0,8653 AZN for 1 US dollar in the Baku, Interbank Currency Exchange on April 17.
17 April 2007 [21:06]

Kazakhstan intends to buy oil drilling equipment from Azerbaijan

Kazakhstan intends to buy drilling equipment from Azerbaijan to use in oil industry.
17 April 2007 [21:00]

First Caspian dockyard to be built in Baku

South Korean Company intends to construct a shipyard at the Caspian Sea, Baku.
17 April 2007 [20:57]

Second cement producing plant to be built in Azerbaijan

Construction of the second cement factory will be commenced in this year's end, said Azerbaijan Investment Company Deputy Executive Director Riyad Gasimov.
17 April 2007 [20:48]

Some government agencies document procured goods and services at exaggerate prices

Some government agencies of Azerbaijan document the procured services and goods at a false exaggerated price, much more than the market prices, MP Jamil Hasanli told a parliament session on April 17.
17 April 2007 [20:47]

Ritz-Carlton to operate in Azerbaijan

Azerbaijan is currently carrying out construction of more than 20 tourism facilities in the country.
17 April 2007 [17:47]

Truck transportation regulations blueprint submitted to government

Azerbaijan's Transport Ministry has submitted Draft Regulations for Truck Transportation to the Government for approval.
17 April 2007 [17:33]

Parliament approves Azerbaijani Accounting Chamber's 2006 report

Azerbaijani Accounting Chamber's 2006 Report has been discussed at the sitting of Azerbaijani parliament.
17 April 2007 [17:16]

Baku to host HotelExpo and AITF-2007 in April

On April 18-20, the first Azerbaijan International Hotel Business Exhibition HotelExpo and the fifth Azerbaijan International Travel and Tourism Fair AITF-2007 will be held in Baku by Iteca Caspian, an exclusive partner of ITE Group PLC, the world's leading exhibition organizer.
17 April 2007 [17:11]

Baku Underground appeals to Binagadi court on occupying the area of new metro station

"Baku Underground has appealed to Binagadi district court on occupying the area of new metro station in the 7th and 8th micro districts," said Nazakat Tanriverdiyeva, spokesperson for Baku Underground.
17 April 2007 [16:50]

Azerbaijan's share of the world's hydrocarbons

Petroleum Intelligence Weekly has published its annual ranking of the world's 50 largest oil companies, this ranking is the leading source of comparative performance assessments on all the world's oil companies.
17 April 2007 [15:56]

Yeni Ganja's gas supply suspended

The temporary problem emerged with gas supply of Yeni Ganja settlement of Ganja region as a result of gas leak.
17 April 2007 [13:52]

Latvia takes interest to invest in Azerbaijan

Today, the third Azeri-Latvian Business Forum has started in Baku.