Business

19 April 2008 [12:22]

Azerbaijani regions lack securities market

The Baku Stock Exchange in cooperation with the State Securities Committee held a conference with participation of entrepreneurs in Lenkoran.
19 April 2008 [12:05]

Cost of bread may rise to 50 qepicks (over 50 cents) in Azerbaijan

If the government takes correct steps, there will be no problems with supply of grain to the population in Azerbaijan.
18 April 2008 [14:56]

Lukoil company to start drilling second exploration well at Yalama structure

Russia Lukoil Overseas Ltd to start drilling the second exploration well at Yalama structure in November, a source from the company told Day.Az Friday.
18 April 2008 [13:32]

Azerbaijan for enhancing trade with Pakistan

Ambassador of Azerbaijan HE Dr Eynulla Madatli on Thursday called for strengthening the economic relations with Pakistan.
18 April 2008 [12:16]

Baku to host international conference "GUAM transit"

An international conference GUAM Transit will be held in Baku on April 29-30, said a press service for the Azerbaijani Foreign Ministry.
18 April 2008 [11:18]

Azerbaijan raises share in Azeri-Chyrag-Guneshli perspective structure development

The share of the Azerbaijani government in the project of the Azeri-Chirag-Guneshli perspective structure development has risen from 50 up to 75% since April 1.
18 April 2008 [10:57]

Azerbaijan's Economic Development Ministry discusses improvement of country's business climate

The delegation of the World Bank, visiting Baku, held discussions in the Ministry of Economic Development of Azerbaijan.
17 April 2008 [16:00]

Revenues of Azerbaijani Oil Fund likely to triple in 2008

The revenues of the Oil Fund of Azerbaijan may exceed the plan by three times in 2008.
17 April 2008 [15:07]

Oil pumping by Baku-Supsa pipeline to resume in May

The Baku-Supsa pipeline which transports Azerbaijani oil to the Black Sea shore of Georgia will resume oil pumping in May.
17 April 2008 [13:27]

Delegation of Turkey-Azerbaijan Business Council to visit Azerbaijan

A delegation of the Turkey-Azerbaijan Business Council will visit Azerbaijan on April 21-25.
17 April 2008 [13:05]

Azerbaijan-Lithuania business forum to be held in Baku

The Azerbaijan-Lithuania business forum will be held at Europe hotel in Baku on April 22.
17 April 2008 [10:28]

Azerbaijan's Economic Development Minister to attend annual session of Asian Development Bank

Azerbaijan's Minister of Economic Development Heydar Babayev received chief executive of the Asian Development Bank Patrick Pilon.
16 April 2008 [17:41]

Reza Vaziri gets 29.46% stake in Anglo Asian Mining Plc. tapping gold in Azerbaijan

Anglo Asian Mining Plc. said its directors have been issued with shares in lieu of salary or fees for the Nov-Jan quarter, in order to preserve cash for the company's Gedabek project in West Azerbaijan.
16 April 2008 [15:49]

Greece negotiating on Azerbaijani gas supplies

Greece has agreed to join the Kremlin-backed South Stream gas pipeline project, further boosting energy ties with Russia, Greece’s Development Minister Christos Folias was quoted by Reuters as saying.
16 April 2008 [13:43]

Azerbaijan International Tourism and Travel Exhibition kicks off in Azerbaijan

Iteca Caspian (Azerbaijan) and ITE Group Plc (UK) are holding the 7th International Tourism and Travel Exhibition (ATIF-2008) in Baku on April 16-18, 2008.
16 April 2008 [10:43]

Inglab Ahmedov: "The world is obviously preparing for conditions when oil reserves are exhausted"

The role of Azerbaijan in provision of energy safety of Europe is highly evaluated by the West, said famous economist Inglab Ahmedov.
15 April 2008 [17:39]

Azerbaijan may raise 2008 inflation outlook

Azerbaijan’s prediction for inflation in 2008 could only be achieved unless consumer prices keep growing on the world market, said the country’s minister of economic development.
15 April 2008 [14:25]

Azerbaijan-Greece business-forum held in Baku, Azerbaijan

The Azerbaijan-Greece business forum arranged by the Greek embassy to Azerbaijan, Azerbaijan Export and Investments Encouragement Foundation (AZPROMO) and Confederation of Entrepreneurs was held in Baku on April 15.
15 April 2008 [11:10]

International Conference GUAM Development Strategy to take place in Baku

An international conference on "GUAM Development Strategy" will be held in Baku by the Azerbaijan Banks Association in cooperation with the Foreign Ministry in late May, said ABA executive manager Farhad Aliyev.
14 April 2008 [15:52]

Socioeconomic development of Azerbaijani regions to be discussed

The commission on regional development and the work group on development of the State Program for Socioeconomic development of Azerbaijani regions for 2008-2013 will be held in Baku tomorrow.
14 April 2008 [15:05]

Azerbaijan to take part in international Caspian Telecoms 2008

The 7th international conference on telecommunications, computer technologies, IT and investments for Turkey, Caspian and Black Sea regions, Caspian Telecoms 2008 will be held in Istanbul on April 17-18.
14 April 2008 [12:18]

German KfW bank to allocate financial aid to Azerbaijan's railway locomotive park

The German Development Bank is ready to allocate financial aid for modernization of the locomotive park of the Azerbaijan State Railroad, said a source from the KfW Baku representation.
14 April 2008 [11:06]

Italian ambassador to Azerbaijan: "Italian entrepreneurs are interested both in tourism and other business sectors of Azerbaijan"

"Azerbaijan should use Italy's potential for development of the tourism sector", said Italian ambassador to our country Gianluidji Masha.
12 April 2008 [11:58]

Azerbaijan accounts for 4,440,000 mobile customers

The number of mobile customers makes up 4,440,000 and internet users -1,000,000 in Azerbaijan.
12 April 2008 [11:48]

Azerbaijan to be represented at Second banking forum of CIS and Eastern European countries

The second banking forum of the CIS and Eastern European countries will be held in Vienna (Austria) on April 24-27.
12 April 2008 [10:19]

World Bank: "Poverty rate may rise in Azerbaijan"

Several post-Soviet and European countries may face the slowdown of economic growth rates, said Pradil Mitra, head economist of the World Bank on European and Middle Asian states.
11 April 2008 [17:05]

Azerbaijan’s Zagatala Airport tested after reconstruction

Zagatala airport in Azerbaijan has been tested after completion of reconstruction overhaul, APA Bureau quoted the regional airport chief Nizami Babayev as saying.
11 April 2008 [15:21]

EU envoy to Azerbaijan: "Iran may take Turkmenistan's place in Nabucco project"

Iran may take Turkmenistan's place in the project of Nabucco gas pipeline on supplies of natural gas from the Caspian basin to Europe bypassing Russia.
11 April 2008 [14:19]

Matthew Bryza: "Azerbaijan should become a competitor in the sphere of energy supplies to South-Eastern Europe"

Europe should diversify energy supplies, as it strongly depends on imports from Russia, said US Assistant Secretary of State Matthew Bryza.
11 April 2008 [14:07]

Azerbaijan International Tourism and Travel Exhibition to take place on April 16-18

Iteca Caspian (Azerbaijan) and ITE Group Plc (UK) will hold the 7th International Tourism and Travel Exhibition (ATIF-2008) in Baku on April 16-18, 2008.
11 April 2008 [12:03]

Mahmud Mamedkuliyev: "Terms of Azerbaijan's accession to WTO mostly depend on the nearest round of talks in Geneva"

Representatives of the negotiation group on Azerbaijan's accession to the World Trade Organization will be visiting Geneva on April 21-26 to take part in a training envisioning a number of bilateral talks, including Norway, South Korea and probably with some other countries.
11 April 2008 [11:27]

Per capital incomes rise by 33.1% in Azerbaijan through first three months of 2008

The per capita incomes have risen by 33.1% as compared to the same period of the last year up to AZN 483.3 and $576.8 through the first three months of 2008, said a source from the state statistical committee.
11 April 2008 [11:09]

Azerbaijan produces goods on AZN 8,200,000,000 through first three months

In the first quarter of 2008 Azerbaijan produced goods in the amount of AZN 8,200,000,000, said a source from the State Statistical Committee.
11 April 2008 [09:50]

Regular session of Azerbaijani-Turkish intergovernmental commission to be held in Ankara

The fifth session of the Azerbaijani-Turkey intergovernmental commission on economic cooperation will be held in Ankara today.
11 April 2008 [09:32]

Azerbaijan to host forum of OIC states' tourism operators

A forum of the tourism operators of the member-states of the Organization of Islamic Conference, participating in the Silk Road project will be held in Azerbaijan on April 13-16.
10 April 2008 [14:34]

BTC pipeline pumps over 2,000,000 tons of Azeri oil in March

The Baku-Tbilisi-Ceyhan pipeline pumped 2,899,938 tons of Azeri oil in March.
10 April 2008 [14:04]

Ceyhan port exports over 2,000,000 tons of Azeri oil to world markets in March

The Ceyhan port shipped 31 tankers load of 2,932,925 tons of Azerbaijani oil to the world markets in March.
10 April 2008 [13:42]

IMF forecasts two year inflation rate to be 19-22% for Azerbaijan

International Monetary Fund predicts Azerbaijan’s GDP growth rate at 18.6% in 2008 and 15.06% in 2009.
10 April 2008 [10:34]

Belarus oil platform to operate in Azerbaijan

A Belarus oil platform on oil field development will appear in Azerbaijan.
10 April 2008 [10:03]

President of Azerbaijan ratifies agreement on cooperation between Azerbaijan's Ministry of Industry and Energy and Romanian Ministry of Economy of Finance

President of Azerbaijan Ilham Aliyev ratified an agreement on cooperation signed between the Ministry of Industry and Energy of Azerbaijan and Ministry of Economy and Finance of Romania, Day.Az reports with reference to the press service for the President.
10 April 2008 [09:50]

World Economic Forum: "Azerbaijan outstrips Russia, Armenia and Georgia by use of information technologies"

The World Economic Forum has worked out a regular yearly report Global Information Technology Report 2007-2008, which fixes the countries, which use information technology.
09 April 2008 [16:15]

Azerbaijan and Korea to ink agreement on Absheron Polluted Site Clean-up Project

Azerbaijan’s Minister of Industry and Energy Natig Aliyev has hosted a delegation led to Baku by Vice-President of Korean International Cooperation Agency (KOICA).
09 April 2008 [15:47]

SOCAR to invest $100,000,000 into Georgian economy

SOCAR intends to invest $100,000,000 into the Georgian economy in the near future.
09 April 2008 [14:25]

Meeting of Azerbaijani and Greek entrepreneurs to be held in Baku

A meeting of Azerbaijani and Greek entrepreneurs arranged by economic and commercial department of Greek embassy to Azerbaijan, Nargiz Asadova, coordinator for work with press and public of the Greek embassy to Azerbaijan, told Day.Az.
09 April 2008 [09:38]

Azerbaijan's strategic monetary reserves to reach $10,000,000,000

The strategic monetary reserves will reach $10,000,000,000 in the near future, said Rufat Aslanly, deputy chairman of the National Bank of Azerbaijan, Day.Az reports.
09 April 2008 [09:11]

Russia’s Sberbank and Vneshtorgbank to enter Azerbaijani market

Russia’s SberBank and Vneshtorgbank may be seen in Azerbaijani market in the offing, Russian Banks Association Vice-President Anatoliy Milkyukov said in Baku.
08 April 2008 [17:40]

Azerbaijan's National Bank refuse to elaborate on dollar/euro correlation in bi-currency basket

"The bi-currency basket is an internal tool of the National Bank of Azerbaijan and the dollar/euro correlation can not be made public", said Rufat Aslanly, deputy chairman of the National Bank of Azerbaijan.
08 April 2008 [17:20]

Azerbaijan's Deputy Economic Development Minister: "Financial sector will play a significant role in diversification of Azerbaijan's economy"

The financial sector will play a significant role in the diversification of Azerbaijani economy and the share of the said sector in the GDP will be high.
08 April 2008 [17:10]

SOCAR executes March forecast on gas production and commissioning to the state

The State Oil Company of Azerbaijan produced 662,320,000 cubic meters of gas in March 2008, thus executing the forecast by 100%.
08 April 2008 [16:33]

AIOC achieves 8% rise in oil production in Jan-Mar

Azerbaijan produced in total 11.247 million tons of oil during the first quarter, a 7.96% rise as compared to a year earlier.
08 April 2008 [16:02]

Azerbaijan boosts oil exports by 18%

8.731 million metric tons of oil flowed abroad from Azerbaijan during January-March, a 17.67% rise as compared to the same period a year earlier.
08 April 2008 [14:14]

Azerbaijani government to consider new proposals on targeted social assistance

Azerbaijan’s Ministry of Labor and Social Protection has sent to the Government a package of proposals for amendment of the Targeted Social Assistance Law.
08 April 2008 [13:36]

Talks on Azerbaijani gas supplies held in Tbilisi

SOCAR President Rovnag Abrullayev is visiting Georgia, a source from the Georgian Embassy to Azerbaijan told Day.Az.
08 April 2008 [12:08]

Azerbaijan to repay electricity debt to Iran within 6 months

Azerbaijan will start repaying electricity imported from Iran on April 20, said Marlen Asgarov, Vice-President of Azerenerji.
08 April 2008 [12:00]

12th session of temporary work group of Organization for Railway Cooperation starts in Baku

The 12th session of the temporary work group on improvement of basic documents of the Organization for Railway Cooperation started in Baku, Azerbaijan, said Nadir Azmamedov, spokesman for the Azerbaijan State Railway Administration.
08 April 2008 [11:18]

Azerbaijan to experience 35% rise in grain output

Azerbaijan’s grain crop is expected to be 35% or 600 000 tons higher than 2007, said Sabir Valiyev, officer of the country’s ministry of agriculture.
08 April 2008 [10:34]

New multi-fuel power plant to be built in Azerbaijan

Azerbaijan’s state AzerEnerji and Finland’s Wartsila are discussing the project of a 104MWe power plant in Guba, 165 km northwest of Baku.
08 April 2008 [10:07]

USAID to allocate $16,000,000 for implementation of projects in Azerbaijan in 2008

USAID will allocate $16,000,000 for implementation of its projects in Azerbaijan this year, said USAID coordinator in Azerbaijan Scott Taylor, according to Novosti-Azerbaijan.
08 April 2008 [09:46]

$9,000,000 to be allocated for Private Sector Competitiveness Program implemented in Azerbaijan

USAID will start implementation of a new Private Sector Competitiveness Project, aimed at the development of this sphere in Azerbaijan.
07 April 2008 [16:00]

Spanish-Azerbaijani business-forum to be held in Barcelona

A Spanish-Azerbaijani business-forum will be held in Barcelona (Spain) on April 8.
07 April 2008 [10:28]

SOCAR's Kulev terminal in Georgia to open in two weeks

The Kulev oil terminal will open within the next two weeks, said Mahir Mamedov, representative of Socar Energy Georgia.
07 April 2008 [09:35]

Over 12,000 jobs opened in Azerbaijan's south in 2007

12,051 jobs were opened in Lenkoran economic area in 2007.
05 April 2008 [13:18]

Color newspapers to be printed in Azerbaijan

Azerbaijan will start printing color newspapers with raising cost of printing services.
05 April 2008 [09:29]

SOCAR raises oil and gas production in March

In March of 2008 the State Oil Company produced 739,950 tons of oil.
04 April 2008 [16:21]

Azerbaijan, Estonia discuss possible evasion of double taxation

Estonian entrepreneurs have been invited for a more active investment into the non-oil sector of Azerbaijani economy.
04 April 2008 [15:22]

Azerbaijan receives 898,700,000 cubic meters of gas in March

SOCAR and Consortium of foreign companies delivered 898,693,275 cubic meters of gas to Azerbaijan in March of 2008.
03 April 2008 [17:22]

Business forum of Azerbaijani and Greek entrepreneurs to be held in Baku, Azerbaijan

Prospects of economic cooperation will be discussed at a business forum of Azerbaijani and Greek entrepreneurs in Baku, Novosti-Azerbaijan reports.
03 April 2008 [14:03]

Transparency International holds anti-corruption seminar in Lenkoran, Azerbaijan

Transparency International Azerbaijan office held a seminar for officials of the Lenkoran department of Ministry of Taxes and residents of Gevzon settlement of Lenkoran on April 3.
03 April 2008 [13:52]

Azerbaijan leading among CIS countries by industrial growth rates in January-February of 2008

Azerbaijan has become a leader among the CIS states by industrial growth rates through two months of 2008.