Business

07 January 2008 [15:03]

Azerbaijan to take part in session of BSEC Foreign Ministers' Council in Kiev

A joint session of the Council of Ministers of Foreign Affairs under the Black Sea Economic Cooperation and European Union will be held in Kiev on February 14.
07 January 2008 [14:54]

Baku oil refineries fail to meet plan on oil products in 2007

In 2007 the oil refineries of Azerbaijan underfulfilled the production plan by 5.84%, producing only 7,504,170 tons of oil products in place of the planned 7,970,000 tons.
07 January 2008 [13:59]

Crop capacity may rise by 20-30% owing to snow

Owing to snowfall, agricultural crops may rise by 20-30% this year, according to Sabir Veliyev, chief of department under Azerbaijan's Ministry of Agriculture.
07 January 2008 [11:37]

State Oil Company of Azerbaijan hits oil production target of 2007

The State Oil Company of Azerbaijan (SOCAR) produced a total of 8,800,880 tons of oil in 2007 (oil and gas producing department -7, 595,750 tons and joint ventures and operating companies-1,194,130 tons).
07 January 2008 [11:02]

Azerbaijan orders electric transformers from India

Indian Bharat Heavy Electricals Ltd (BHEL) will supply Azerbaijan with transformers in the amount of 400 million rupees ($10 million).
30 December 2007 [17:25]

President of Azerbaijan inaugurates new road in Baku

President of Azerbaijan Ilham Aliyev has today attended the inauguration of a new road on the Nasib bey Yusifbeyli Street.
30 December 2007 [15:01]

Egypt to set up pharmaceutical factory in Azerbaijan

Azerbaijan and Egypt have reached an agreement on the project of construction of a pharmaceutical factory in Azerbaijan.
30 December 2007 [14:50]

Madrid to host Spain-Azerbaijan business-forum

The meeting of businessmen of Azerbaijan and Spain will take place in early 2008.
30 December 2007 [13:56]

Azerbaijan to start liquidation of energy debt to Iran

Azerbaijan will start liquidation of energy debt to Iran in spring of 2008, as reported by the vice president of Azerenerji Marlen Askerov.
30 December 2007 [10:29]

Azerbaijan, Egypt sign documents on cooperation

Azerbaijan-Egypt Intergovernmental Commission signed a final protocol of the third meeting in Baku.
29 December 2007 [16:18]

France-Azerbaijan business-forum to be held in 2008

Meeting of Azerbaijani and French businessmen will be held early 2008.
29 December 2007 [14:45]

Azerbaijan's Agriculture Minister: "We will apply administrative sanctions to combat overpricing in 2008"

Prices on the agricultural fairs in Baku are lower by 40-50% average, as reported by Azerbaijan's Minister of Agriculture, Ismet Abbasov.
29 December 2007 [13:45]

New State Program for Development of Communication and Informational Technologies to be worked out in Azerbaijan

Azerbaijan's Ministry of Communication and Informational Technologies is to work a out a draft new State Program for development of communication and informational technologies in the country.
29 December 2007 [11:23]

Azerbaijan's GDP rises by 25.4%, Jan-Nov

The rise in the gross domestic product of Azerbaijan (GDP) from the beginning of the year until late November made up AZN 20.818 billion (over $24.6 billion), which is 25.4% higher as compared to the same period of 2006.
29 December 2007 [10:32]

French Societe Generale wins tender on international financial consultant for Azerbaijan's Azerkimya

The French bank Societe Generale was declared winner of the tender on selection of an international financial consultant conducted by Azerkimya state company, as reported by the press service for Azerkimya.
28 December 2007 [19:03]

Azerbaijan’s construction companies take great interest in Russian market

Azerbaijan-based companies have been invited to join construction projects in Russia, Emil Majidov, President of Azerbaijan Export and Investment Promotion Foundation (AzPromo), said.
28 December 2007 [18:48]

Azerbaijani and Kazakh enterprises expected to sign new contracts

Representation of Azerbaijan Export and Investments Encouragement Fund (AZPROMO) in Kazakhstan has attracted 4-5 Azerbaijan construction companies to Kazakh market, as reported by the President of the Fund Emil Medjidov.
28 December 2007 [17:55]

Turkey's Minister of Agriculture arrives in Azerbaijan-UPDATED

Turkish Minister of Agriculture and Rural Affairs Mehmet Mehdi Eker has arrived in Azerbaijan today.
28 December 2007 [16:38]

Azerbaijan, Egypt have prospects of ICT cooperation

Azerbaijan's Minister of Communication and Information Technologies Ali Abbasov received Egyptian Minister of International Cooperation Faiza Abu al-Hadj.
28 December 2007 [15:51]

Armenia reserves right to accept or reject Azerbaijan's proposal to participate in TRACECA Summit in Baku

Armenia reserves a right to accept or reject Azerbaijan's proposal to participate in TRACECA Summit in Baku, as reported by a source from Armenian government.
28 December 2007 [15:42]

30,000 foreign-made medicines officially sold in Azerbaijan

“Import of foreign-made medicines to Azerbaijan has never been prohibited,” Health Minister Ogtay Shireliyev said.
28 December 2007 [13:15]

Turkey suspends resolution on sale of Petkim oil enterprise

Execution of a resolution on the sale of Petkim (Perokimya Holding), one of the biggest enterprises of Turkey to a consortium, comprising SOCAR, Turcas and Infaz, has been suspended.
28 December 2007 [11:28]

Korean SDX offering to build vessels of up to 60,000 tons displacement in Baku

A project on construction of the Caspian Shipyard in Azerbaijan will be presented by Korean STX late Jan-early Feb.
28 December 2007 [10:41]

Employers to be fined for illegal hiring of foreigners in Azerbaijan

Employers will be imposed a fine from AZN 33,000 to AZN 38,500 for employment of foreigners or stateless persons having no permit for work in Azerbaijan.
28 December 2007 [10:14]

Azerbaijan to apply e-medical cards first in Eurasia

Azerbaijan’s Ministry of Health has held a presentation of a system of e-medical cards to be applied in the country.
27 December 2007 [17:22]

Baku hosts Azerbaijan-Egypt business-forum

A business-forum with participation of business circles of Azerbaijan and Egypt was held in the framework of the third session of the Azerbaijan-Egypt intergovernmental commission on economic cooperation in Baku.
27 December 2007 [16:40]

Ilham Aliyev signs regulation on alterations to law "On Currency Regulation"

President of Azerbaijan Ilham Aliyev signed a regulation to bring revised Law on Currency Regulation into effect.
27 December 2007 [11:57]

New Armenian President to be invited to Baku

The President of Armenia will be invited to Baku following the forthcoming presidential elections in this country, as reported by Akif Mustafayev, national secretary, representing Azerbaijan under the TRASECA permanent intergovernmental commission, announced.
27 December 2007 [11:43]

Commodity aid to Azerbaijan making up $58 million Jan-Nov

The volume of free technical aid and humanitarian cargo received from foreign countries and governments and international organizations in January-November of 2007 exceeded $58.4 million, as reported by the State Customs Committee.
27 December 2007 [11:35]

Turkey's Agriculture Minister to arrive in Azerbaijan

A delegation of the Turkish Ministry of Agriculture, led by Agriculture Minister Mehmet Mehti Eker will arrive in Baku tomorrow, as reported by the press service for the Azerbaijan Ministry of Agriculture.
26 December 2007 [18:54]

Oil transportation accounting for greater share in Azerbaijan's export

Crude oil and oil products made up 80.6% of Azerbaijani export within 11 months of 2007.
26 December 2007 [18:08]

Caspian Shipping Company obtains new ferryboat

A ferryboat, built in the Pula City (Croatia), has been delivered to Baku, as reported from the State Caspian Shipping Company of Azerbaijan.
26 December 2007 [12:59]

Soci?t? G?n?rale intending to acquire a bank in Azerbaijan

France’s Soci?t? G?n?rale has applied to the National Bank of Azerbaijan for acquisition or establishment of a bank in the country.
26 December 2007 [12:18]

Domestic airfare goes up in Azerbaijan

The Tariff Council of Azerbaijan (State Price Regulator) has reconsidered proposals on domestic airfares, prices of transportation and storage of radioactive substances, and customs laboratory examination.
26 December 2007 [12:07]

Law "On Insurance Activities" adopted in Azerbaijan

The law "On Insurance Activities" was adopted at the plenary session of Azerbaijani parliament.
26 December 2007 [11:44]

Baku to host Azerbaijan-Egypt business forum

The Azerbaijan-Egypt business forum is planned to be held in Baku on December 27, as reported by the press service of the Azerbaijan Export and Investments Encouragement Fund (AZPROMO).
26 December 2007 [10:57]

Elman Rustamov: "Inflation rate will near 12% in Azerbaijan next year"

Inflation rate will near 12% in Azerbaijan in 2008, as reported by Elman Rustamov, chairman of the Directors' Board of the National Bank of Azerbaijan.
26 December 2007 [10:42]

Azerbaijan to launch new mortgage lending mechanism

Azerbaijan plans to make significant improvements in the mortgage lending mechanism next year, Elman Rustamov, Chairman of the Directors' Board of the National Bank of Azerbaijan, said.
25 December 2007 [17:43]

Seventh report on Extractive Industries Transparency Initiative issued in Azerbaijan

The Commission on Extractive Industries Transparency Initiative (EITI) in cooperation with the Coalition of Intergovernmental Organizations on EITI and oil companies, operating in Azerbaijan, has issued the seventh report of Azerbaijan on EITI.
25 December 2007 [17:22]

First footbridge to open in Baku

The first footbridge will open at Heydar Aliyev Avenue in Baku in a few days.
25 December 2007 [17:03]

Deputies grudge against frequent temporary blackouts in Baku districts

Today's session of the parliament discussed electricity supply to the population, and its debts.
25 December 2007 [16:30]

Baku to host third congress of credit unions of Eastern Europe

The third congress of credit unions of Eastern Europe will be held in Baku in Autumn of 2009.
25 December 2007 [15:13]

Azerbaijan to adopt agro-industrial development strategy

Azerbaijan will adopt a strategy of the development of agro-industrial complex in the near future, sources from the Azerbaijani Ministry of Agriculture reported.
25 December 2007 [15:04]

Morocco inviting Azerbaijani companies for implementation of tourism projects

Confederation of Entrepreneurs of Azerbaijan has received a letter from Afro American Services Group Morocco (AAS-Group) company, operating in Morocco.
25 December 2007 [14:54]

Session of Azerbaijan-Japan intergovernmental commission to be held in Tokyo

A regular session of the Azerbaijan-Japan intergovernmental commission will be held in Tokyo in February of 2008, as reported by Japanese Ambassador to Azerbaijan Masamutsi Oki.
25 December 2007 [14:43]

Japanese government allocates over $172,000 to Azerbaijan

Agreements on implementation of two projects in Azerbaijan, estimated at $172,205, were signed in the residence of Japanese Ambassador to Azerbaijan Masamutsi Oki Tuesday.
25 December 2007 [13:39]

Import of Iranian poultry products to Azerbaijan banned

Import of Iranian poultry products has been banned in Azerbaijan due to the detection of avian flu virus in Iran.
24 December 2007 [18:01]

BP-Azerbaijan and Rolls-Royce sign contract on ?120 million

Rolls-Royce and BP-Azerbaijan have signed a contract on ?120 million, sources from Rolls-Royce reported.
24 December 2007 [17:52]

Cost of cell phone calls likely to go down in Azerbaijan next year

"I think cost of calls over cell phones will decline in 2008", Minister of Communication and Informational Technologies of Azerbaijan Ali Abbasov told reporters.
24 December 2007 [16:08]

Baku Metro likely to raise fare in 2009

"We do not intend to appeal to the Tariff Council for raising underground fare in 2008", chief of the Baku Metro Tagi Akhmedov told reporters.
24 December 2007 [14:41]

Construction of first research nuclear reactor in Azerbaijan likely to commence in 2009

The UN International Atomic Energy Agency (IAEA) is ready to support Azerbaijan in the construction of the first research nuclear reactor, as reported by Adil Garibov, head of the Institute for Radiation Problems under the National Academy of Science.
24 December 2007 [14:00]

IBA to open representations in Dubai and Luxembourg

The International Bank of Azerbaijan (IBA) has obtained a license for opening representations in Dubai and Luxembourg.
24 December 2007 [13:33]

Direct flights between Azerbaijan and Jordan to open in April next year

Direct flights between Azerbaijan and Jordan will open on April 1, as reported by Azerbaijani Ambassador Extraordinary and Plenipotentiary to Jordan Elman Arasli.
24 December 2007 [13:28]

Azeri section of TRASECA corridor transports 38.8 million tons of cargo, Jan-Oct

38.8 million tons of goods and 148.9 million passengers were transported by Azeri section of the TRACECA Corridor in January-October.
24 December 2007 [11:25]

Azerbaijani President Ilham Aliyev visiting Ali Bayramli

Azerbaijani President Ilham Aliyev has started his visit to the Ali Bayramli region.
24 December 2007 [11:18]

Japanese Government to allocate over $172,000 to Azerbaijan

Agreements on implementation of two projects in Azerbaijan are to be signed in the residence of Japanese Ambassador to Azerbaijan Masamutsi Oki on December 24, as reported by the press service for the Japanese Embassy.
20 December 2007 [16:12]

Azerbaijan among countries of most expensive telephone communication

According to the International Telecommunications Union, the average cost of a three minute local telephone call over was the highest in Ecuador-$0.60 per minute in 2006.
20 December 2007 [12:42]

British Company illegally tapping gold in Azerbaijan’s occupied lands sells its share to Georgian-Russian Company

Ecological situation is unsatisfactory in Azerbaijan’s lands occupied by Armenia, said Azerbaijan’s Minister of Ecology Huseyn Baghirov.
19 December 2007 [19:11]

Azerbaijan's industrial production reaches 17.4 billion AZN in 2007

Azerbaijan's industrial production and services made up 17.4 billion AZN in January-November of 2007, which is a 24.7% rise as compared to the same period of 2006, according to the State Statistical Committee.
19 December 2007 [18:54]

Korea to finance postal system improvement in Azerbaijan

Korea has allocated a grant of $50,000 to finance a part of a project to be implemented in the framework of the Fund of postal system improvement in Azerbaijan.
19 December 2007 [18:36]

1600 facts of illegal registration of lands recorded in Azerbaijan in 2007

The number of facts, connected with illegal registration of lands, reached 1600 in 2007, according to the chairman of the State Committee for Land and Cartography of Azerbaijan Gariv Mamedov.
19 December 2007 [17:58]

Azerbaijani government to consider draft law "On compulsory accident insurance"

The Ministry of Labor and Social Protection of the Population of Azerbaijan has introduced a draft law "On compulsory accident insurance", relying on the global practice, to the Cabinet of Ministers.
19 December 2007 [17:04]

Azerbaijan to produce 450 million barrels of oil in 2016

The Center of Social and Economic Development held a presentation of a report on effective use of assets of the State Oil Fund of Azerbaijan in Baku Wednesday.
19 December 2007 [14:24]

Gold goes down in price in Azerbaijan

Jewels have always been considered the best present on the East, therefore, the prices of gold were expected to rise in Baku.
19 December 2007 [13:44]

One more road bridge opens in Baku

Azerbaijan’s President Ilham Aliyev has today joined an opening ceremony of a road bridge at the intersection of Ali Mustafayev and Javad Khan Streets in Baku.
19 December 2007 [12:30]

Azerbaijan, Oman explore ways of boosting tourism relations

As part of his visit to Oman, Azerbaijan's Deputy Foreign Minister Khalaf Khalafov met with Undersecretary of the country`s Tourism Ministry Mohammed bin Hamoud Al Tobi to discuss tourism relations between the two countries.
19 December 2007 [11:24]

Oman and Azerbaijan look to bolster bilateral cooperation

Oman and Azerbaijan held a round of political consultations on Monday with the Sultanate's side led by Sayyid Badr bin Hamad Al Busaidi, Secretary-General of the Foreign Ministry, and the Azerbaijani delegation by Deputy Foreign Minister Khalaf Ali Khalafov.
18 December 2007 [17:50]

Life in Azerbaijan turns out cheaper than in Armenia and Georgia

The World Bank has compared consumer prices in 146 countries of the world.
18 December 2007 [16:32]

Azerbaijan explores proposals on construction of a toll road from Baku to Georgian border

The government of Azerbaijan is examining proposals to construct a toll road from Baku to Georgia border (Trans-Azerbaijan National Express Way).
18 December 2007 [13:30]

More Turkish and British citizens legalize their jobs in Azerbaijan

1,692 foreigners have legalized their jobs in Azerbaijan, Rauf Tagiyev, Migration Officer of Azerbaijan’s Ministry of Labor and Social Protection said.