Business

07 March 2007 [09:20]

Agriculture exhibition to be held in Turkey

On March 14-18TUYAP Congress and Exhibition center will host an agriculture fair in Konya, Turkey.
07 March 2007 [09:17]

Azercell anticipates privatization of state stake

Azercell Telecom JV has completed all paperwork for privatization of the state's stake in the company.
07 March 2007 [09:15]

Belarus intends to join reconstruction of Mingechevir Power Plant

Belarus companies intend to participate in reconstruction of Azerbaijan's Mingechevir Hydroelectric Power Plant, said the ambassador to Azerbaijan Nikolay Patskevich.
07 March 2007 [08:46]

Azeri, Kazakh, Russian Accounting Bodies to meet in Aktau

Heads of Azerbaijani, Kazakh and Russian Accounting Chambers will meet in Aktau on March 12.
07 March 2007 [08:39]

AtaLeasing expands economic investments in February

Azerbaijan's AtaLeasing increased investments in February by 1.43% to AZN 355,000.
07 March 2007 [08:20]

Azeri manat climbs 0.15% over US dollar

In February, the exchange rate of Azeri manat against the US dollar rose 0.15% to 0.8688 AZN/USD from AZN 0.8701 AZN/USD1.
07 March 2007 [08:20]

Pasha Sigorta to raise its authorized capital 50%

Azerbaijan's Pasha Sigorta Insurance intends to raise its authorized capital 50% to AZN 1.5m during the first half of the year.
07 March 2007 [08:18]

Baku Ring Road design engineering complete

The design engineering for Baku Ring Road Project has been complete and the road will be 60km, longer then planned because of buildings on the project road.
07 March 2007 [08:16]

TRACECA joint commission 6th meeting rescheduled

The 6th meeting of the TRACECA Intergovernmental Commission scheduled for May has been postponed.
07 March 2007 [08:13]

CNN broadcasts commercial on tourism potential of Azerbaijan

The second part of the commercial demonstrating tourism potentials of Azerbaijan has started to be broadcasted on CNN channel.
07 March 2007 [08:01]

Azercell Telecom subscriber base up 33% in 2006

The subscriber base of Azeri mobile operator Azercell Telecom rose 33% in 2006 to 2.33 million users as of late 2006, company CEO Halim Ates said at a news conference Tuesday.
06 March 2007 [22:50]

Azerkimiya shuts down

State-owned Chemicals maker, Azerkimiya, shut down indefinitely because of the energy prices hike in the country.
06 March 2007 [22:18]

Turkey finishes laying Baku-Tbilisi-Erzurum pipeline

Pipelay and construction work in the Turkish part of the Baku-Tbilisi-Erzurum has been complete.
06 March 2007 [17:50]

Azeri Parliament ratifies RussNeft & SOCAR agreement

Today, Azerbaijan's Parliament ratified the production sharing agreement (PSA) between State Oil Company of Azerbaijan SOCAR (75%) and Russian oil firm RussNeft (25%) to develop two oil fields of Azerbaijan - Hovsan and Zykh onshore oilfields in Azerbaijan.
06 March 2007 [17:44]

Kazakhstan considering building oil refinery in Georgia, president says

President Nursultan Nazarbayev said Tuesday that energy-rich Kazakhstan is considering building an oil refinery in Georgia's Black Sea port of Batumi, the official news agency Kazinform reported.
06 March 2007 [17:19]

Argentina enthusiastic to develop Azeri energy resources

Industry and Energy Minister Natig Aliyev has Tuesday met with Argentina's Ambassador to Azerbaijan Sebastian Lukas Brugo Marko.
06 March 2007 [16:52]

Caspian energy market development to be discussed in Baku

Confidence Energy Ltd. from the UK and the Azerbaijan State Oil Academy will conduct the first Caspian Oil Trade & Transport Conference in Baku on Apr. 23-24. It will consider the fuel and energy transportation and international cooperation on the Caspian Sea.
06 March 2007 [15:42]

Baku-Boyuk Kesik fast train railroad to be laid

South Korean Transport Ministry had a meeting at the Azerbaijan State Railway Company (ADDY) in Baku to discuss prospects of the project on establishment of fast train system in Azerbaijan.
06 March 2007 [14:39]

Russia-Azerbaijan economics commission to meet in April

In April Moscow will host the meeting of the Russian-Azerbaijan Intergovernmental Commission for Economic Cooperation.
06 March 2007 [14:37]

MPs offer reduce in energy carriers price

Azerbaijani parliament members Panah Huseyn and Igbal Agazadeh raised issue on reducing the fees of energy carriers, especially electricity bill.
06 March 2007 [09:30]

Georgia may not get Shah Deniz gas

Georgia may not receive 800 million cubic meters of gas from Turkey's portion of the Shah Daniz pipeline, a Georgian newspaper said.
06 March 2007 [09:15]

Azerbaijan to host International Fashion and Accessories Exhibition

March 6-8, ITE Group PLC (Great Britain) and its exclusive partner in Caucasus – ITECA Caspian LLC will hold the first Azerbaijan International Fashion and Accessories Exhibition.
06 March 2007 [09:05]

Azerbaijan attends CIS antimonopoly bodies meeting

Moscow hosted the second meeting o the Working Group developing proposals to improve mutual coordination of CIS antimonopoly top bodies.
06 March 2007 [09:00]

Legal procedure on Barmek officers' appeal postponed

Appeals Court again postponed the legal procedure on the appeals of two officers of Barmek-Azerbaijan Electricity Distribution, the court told.
06 March 2007 [08:45]

Peter Semneby: "EU greets Baku-Tbilisi-Akhalkalaki-Kars railway project"

"I wouldn't like to relate Nagorno Karabakh conflict with Baku -Tbilisi-Akhalkalaki-Kars railway project," EU Special Representative for the South Caucasus Peter Semneby told.
06 March 2007 [08:23]

Oil fuels more independent Azerbaijan

A railroad deal will soon link the ex-Soviet outpost to European markets.
06 March 2007 [08:10]

Ethical and legal framework training for investors and issuers over

The 3rd phrase of ethical and legal framework training for investors and issuers held by Baku Stock Exchange and Transparency Azerbaijan is over.
06 March 2007 [08:05]

Standard Capital tops ranking of brokers in Azerbaijan in February

In February, according to the calculations by the Analytical Department of the BSE, in the government securities market (excluding repo operations market) Standard Capital headed the ranking of brokers with brokerage services in the total amount of AZN 41,885,622.26 provided to six clients.
06 March 2007 [08:00]

Azerbaijan installs currency shredding devices

The National Bank of Azerbaijan has already installed currency shredding devices and granulators purchased from the Kusters Engineering to destroy old banknotes.
06 March 2007 [07:55]

Azerbaijan detects counterfeit bills

The National Bank of Azerbaijan warned people that there appeared in the circulation.
06 March 2007 [07:50]

Mughanbank joins Blizko money transfer system

Azerbaijan's Mughanbank has joined Svyaz-Bank's Blizko fast money transfer system as the eight systems after Western Union, Contact, MrivatMoney, Bistraya Pochta, Migom, Travelex and Lider.
06 March 2007 [07:45]

Deals of $4.17m closed at BICEX

The weighted average exchange price made up 0.8685 AZN/USD at trading sessions on the Baku Interbank Currency Exchange.
06 March 2007 [07:40]

Communication and Information Technologies Minister signs memorandum with California University

Communication and information Technologies Minister Ali Abbasov in the frame of his visit to the USA signed partnership memorandum with California University.
06 March 2007 [07:30]

Huseyn Arabul and some Barmek officials study materials of their criminal case

The criminal case launched by the Department Fighting Corruption under General Prosecutor's Office on articles 179.3.2, 306.2, 308.2 and 313 of the Criminal Code about the officials of Barmek Electricity Distribution were completed, General Prosecutor's Office told.
06 March 2007 [07:05]

Bank Standard launches employee evaluation project

With support of Allianz Group, Azerbaijan's Bank Standard has launched employee evaluation project on the basis of Profiles International, the recognized world leader in employment evaluation and human resource management assessment tools, used by 750 countries in 100 countries.
06 March 2007 [07:00]

AtaTechnology to represent CryptoMetrics in Azerbaijan

Azerbaijan's AtaTechnology LLC has acquired the right to represent CryptoMetrics, the leading provider of sophisticated biometric devices and software to private companies and governmental agencies worldwide.
06 March 2007 [02:55]

Tender period on ANS frequency may be prolonged

The tender period announced on ANS TV and ANS ChM frequency by National Television and Radio Council may be prolonged, NTRC chief Nushiravan Maharrmali told.
06 March 2007 [02:50]

WB education mission visits Azerbaijan

World Bank mission for education has visited Azerbaijan.
06 March 2007 [00:33]

Azerbaijan strengthens flight safety

Azerbaijan National Airlines (AzAL) has strengthened flight security in accordance with the requirements of the International Civil Aviation Organization (ICAO).
05 March 2007 [23:34]

Azerbaijan installs currency shredding devices

The National Bank of Azerbaijan has already installed currency shredding devices and granulators purchased from the Kusters Engineering to destroy old banknotes.
05 March 2007 [17:39]

Azerbaijan detects counterfeit bills

The National Bank of Azerbaijan warned people that there appeared in the circulation.
05 March 2007 [17:04]

Azerbaijan, Russia haggle over electricity prices

Azerenergy and Russian RAO EES (Unified Energy Systems) have started negotiating on the prices of electricity imports for the coming months.
05 March 2007 [16:25]

Azerbaijan announces investment contest for Baki Taxil

Azerbaijan State Committee for Public Property Management has announced an investment competition to sell shares of Baku Taxil Open Joint Stock Company.
05 March 2007 [16:02]

Azerbaijan transport infrastructure damaged $560m by Armenians

Azerbaijan transport infrastructure in the lands under illegal occupation of Armenian Armed Forces was damaged by US $560 according to the preliminary calculations.
05 March 2007 [13:16]

Anglo Asian Mining expects to finish feasibility study on Gedabek project in Q2

Anglo Asian Mining PLC said it expects to complete a feasibility study on the Gedabek property in Azerbaijan in the second quarter of 2007 with construction targeted to begin in the summer.
05 March 2007 [08:54]

Baku Electricity Network to build four substations

Baku Electricity Network plans to build four substations in the districts of Yasamal, Azizbayov, Sabunchu and Sabail.
05 March 2007 [08:52]

One more McDonald's in Baku

4th restaurant McDonald's was opened next to the Memar Ajami subwayo station.
05 March 2007 [08:51]

Azerbaijan Accounting Chamber attends international conference

A delegation from Azerbaijan Accounting Chamber attended the second conference on Financial Control and New Information Technology held in Suzdal, Russia.
05 March 2007 [08:50]

Two buildings repaired in Ali-Bayramli

Two buildings in Ali-Bayramli which were in alert condition have been repaired.
05 March 2007 [08:49]

SOCAR President meets with ISO Secretary-General

President of State Oil Company, Rovnag Abdullayev, has met with Alan Bryden, Secretary-General of International Organization for Standardization (ISO).
04 March 2007 [14:44]

Crocus Group to open new shops in Azerbaijan

Crocus Group, the organizer of the semiannual exhibition, runs a luxury shopping mall in Moscow and boutiques for foreign brands.
04 March 2007 [13:18]

Discussions intensify with Kazakhstan on Trans-Caspian gas pipeline

On a visit to Astana on February 27-28, Azerbaijan's Minister of Foreign Affairs Elmar Mammadyarov took the initiative to discuss possible exports of gas from Kazakhstan through the proposed gas pipeline on the Caspian seabed.
04 March 2007 [13:12]

Turkey acts to expand Caspian basin energy presence

Seizing on an opportunity created by Turkmenistan’s political transition, Turkey is trying to expand its share of Caspian Basin natural gas exports, thereby reducing its own energy dependence on Russia.
04 March 2007 [12:59]

Iranian gas exports to Nakhichevan to increase

A senior gas official of Azerbaijan said Friday Iran will supply 250 million cubic meters of natural gas in 2007 to the Autonomous Republic of Nakhichevan.
03 March 2007 [11:08]

National Bank not to change inflation forecasts

National Bank of Azerbaijan is not considering its predictions for inflation following the energy price increase.
03 March 2007 [11:04]

Latvian businesspeople to visit Baku in April

Delegation of Latvian businesspeople led by Foreign Minister Artis Pabriks will visit Azerbaijan in April.
03 March 2007 [10:58]

KfW Senior Vice-President visits Azerbaijan Microfinance bank

KfW Senior Vice-President, Doris K?hn, has visited Sumgait branch of Azerbaijan Microfinance Bank.
03 March 2007 [10:56]

Industrial Development Program Blueprint to be submitted to President

Industry and Energy Ministry is working on the State Program for Industrial Development and the draft will be introduced to the President by the end of March.
03 March 2007 [10:30]

Tariffs for international and mobile telephone talks will be reduced

"We have sent proposals on appliance of limit to inter-city telephone talks to Tariff Council. The chairman of Tariff Council Heydar Babayev twice touched on this issue. Tariff Council has its procedures to estimate the proposals," deputy Communication and Information Technologies Minister Iltimas Mammadov told the journalists.
03 March 2007 [10:26]

Problems and prospects of standardizations in Azerbaijan examined

Azerbaijan State Agency for Standardization, Metrology and Patents held a roundtable on Problems and prospects of standardizations.
03 March 2007 [10:21]

Azerbaijan to announce contest for expansion of gasholders

Azerbaijan will hold competition for expansion of gasholders. At the first phase, Garadagh gasholder will be enlarged to 2.3bn cubic meters.
03 March 2007 [10:18]

Azerigas Chair Alikhan Malikov holds press conference

A total of 923m cubic meters of natural gas were supplied to the consumers in Azerbaijan during January, Azerigas Chairman Alikhan Malikov stated.
03 March 2007 [10:15]

Azerbaijan exports 13,593 tons of gasoline in February

The SOCAR Marketing and Economic Operations Department exported 13,593 metric tons of gasoline, 102,783 tons of diesel fuel, 31,793 tons of aircraft fuel, 1,667 tons of lubricants and 3,000 tons of oil bitumen during February, 2007.
03 March 2007 [09:09]

State Labor Inspection to examine construction companies from tomorrow

State Labor Inspection under the Ministry of Labor and Social Protection starts examinations in construction companies tomorrow, stated SLI chief Nebi Shukurlu.
03 March 2007 [09:06]

Economic Court rejects appeal of Independent Azerbaijan University

The appeal of Independent Azerbaijan University (IAU) for the decision of Economic Court #1 was rejected, lawyer for IAU Intigam Aliyev stated.
02 March 2007 [23:08]

Haji Mammadov's lawyer appeals to Court of Appeals

Today Samad Aliyev, a lawyer for former high ranking official of Azerbaijan's Interior Ministry Crime Investigation Department Haji Mammadov, appealed to Court of Appeals on decision of Court of Grave Crimes, the lawyer told.
02 March 2007 [22:56]

Turkey to sell gas from Shahdeniz to Greece

"The well in Azerbaijan will produce natural gas in the framework of Shahdeniz project in six days," Hilmi Guler, Turkey's Energy and Natural Resources Minister said.
02 March 2007 [22:52]

Euro 2008 tickets come on sale

Tickets for the 2008 European Championships went on sale.
02 March 2007 [22:30]

International contest announced for establishment of Heydar Aliyev Center in Baku

Azerbaijan State Committee for Public Property Management has announced an international competition for establishment of Heydar Aliyev Center in Baku.
02 March 2007 [17:13]

Azerbaijan-Latvia Joint Commission agrees to deepen ties

Friday, the first meeting of the Azerbaijan-Latvia Intergovernmental Commission for Economic Cooperation was held in Baku to examine the prospects for expansion of economic ties.
02 March 2007 [16:56]

Azerbaijan needs no talks on Russian gas imports, Natig Aliyev says

Azerbaijan's energy balance blueprint for 2007 is ready and the draft has been submitted to the Government, said Azeri Industry and Energy Minister Natig Aliyev.
02 March 2007 [13:57]

LA hosts Business forum of Azerbaijani and US hi-tech companies

Los Angeles hosted the 2nd Business Forum of Azerbaijani and US companies specialized in high technologies.
02 March 2007 [12:50]

Gold deposits exploration to start up in Nakhchivan in spring

Azerbaijan International Mining Operating Company plans to start exploration activities in Dastabashi, Agyurd and Keleki gold deposits located in Nakhchivan Autonomous Republic.
02 March 2007 [09:16]

Azeri Industry and Energy Minister meets with ISO Secretary-General

Thursday, Azerbaijan's Industry and Energy Minister Natig Aliyev met with Secretary-General of International Organization for Standardization (ISO) Alan Bryden visiting Azerbaijan.
02 March 2007 [09:14]

Palmali, Krasnoye Sormovo sign 10 tanker agreement

Palmali Group of Company ordered Russia's Krasnoye Sormovo Shipyard to build 10 tankers with a deadweight capacity of 7,000 tonnes for shipping chemicals.