Business

26 September 2006 [19:36]

Azerbaijan is making steady progress in developing its telecommunications sector, but still faces numerous problems

Research and Markets has announced the addition of "2006 Central Asian Telecoms Statistics and Market Overview" to their offering.
26 September 2006 [15:03]

Inflation rate in Azerbaijan to be one-digit as Government forecasted

One-digit inflation rate forecasted by the Government will remain effective by this year's end.
26 September 2006 [13:55]

Azeri, Turkish and Georgian Transport Ministers to meet in Baku

Next meeting of Turkish, Azerbaijani and Georgian Transport Ministries will be held in Baku in October within the frames of Kars-Akhalkalaki-Tiflis-Baku railway project.
26 September 2006 [13:44]

Deputy Minister of Industry and Energy meets Korean delegation

Gulmammad Javadov, Azerbaijan Deputy Minister of Industry and Energy met with Nam ?hang Hyun, head of the metal and petrochemical group of Korean Commerce, Industry and Natural Resources Ministry and his accompanying delegation.
26 September 2006 [13:41]

Conference on foodstuffs' quality held in Baku

Economic Development Ministry hosted a scientific and practical conference examining how to increase the quality of foodstuffs in Azerbaijan.
26 September 2006 [13:35]

EBRD opens regional center in Tbilisi

The European Bank for Reconstruction and Development (EBRD) has established a regional center in Tbilisi, which will cover the Bank's activities in the Caucasus, Moldova and Belarus, the EBRD said on September 25.
26 September 2006 [10:23]

Azeri delegation to attend Istanbul TRACECA workshop

Workshop for TRACECA member states' transportation bodies will take place in Istanbul on November 2-3 within Regulation of Hazardous Cargo Transportation.
26 September 2006 [10:22]

Amendments to Tax Code submitted to President's Office

Amendments to the Tax Code proposed by the Taxes Ministry of Azerbaijan were submitted to the President's Office.
26 September 2006 [10:17]

Turkish and Azerbaijani Communication Ministries sign letter of intent

Azerbaijani Minister of Communication and Information Technologies Ali Abbasov visited Turkey at the invitation of his Turkish counterpart Binali Yildirim.
26 September 2006 [10:01]

Signs of new gold, copper and nickel deposits discovered in Azerbaijani regions

Signs of new gold, copper and nickel deposits have been discovered in Azerbaijani western regions of Gadabey, Khanlar and Dashkesen.
26 September 2006 [09:48]

Azerenergy plans to install 600 000 cable meters by this year's end

Over 150 000 electric meters were installed throughout the country.
26 September 2006 [09:37]

Finance Ministry's T-bills to be held at BSE

Auction on placement of T-bills with the state registration number 10502813S will be held at Baku Stock Exchange tomorrow.
25 September 2006 [22:52]

Cabinet of Ministers discusses 2007 Budget Draft

The meeting of the Cabinet of Ministers presided by Prime Minister Artur Rasizadeh took place on September 25. The discussions at the meeting revolved around the 2007 draft state budget, conception and forecast of development of Azerbaijan Republic for 2007 and the next 3 years.
25 September 2006 [21:48]

CAREC Programme's participating countries to discuss regional cooperation

Ministers from Azerbaijan, Afghanistan, Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan and Uzbekistan will discuss ways of further expanding regional cooperation at the fifth meeting of the Central Asia Regional Economic Cooperation (CAREC) Programme's participating countries due to take place on October 20 in Urumqi, China.
25 September 2006 [21:45]

Trades at BICEX

The weighted average exchange prices made up 0,8754 AZN for 1 US dollar in the Baku Interbank Currency Exchange on September 25.
25 September 2006 [21:37]

Baku hosts ECO Transit Transport Coordination Council's meeting

The First Meeting of the Transit Transport Coordination Council (TTCC) of the Organization for Economic Cooperation for implementation of Transit Transport Framework Agreement (TTFA) began September 25 in Baku.
25 September 2006 [21:34]

Draft State Budget 2007 submitted to President after discussion

Today the Cabinet of Ministers met to discuss the Draft State Budget for 2007 submitted by the Finance Ministry.
25 September 2006 [21:21]

Iranian company participates in Khachmaz power plant

Iranian Sun Energy Company will participate in implementing a power plant project in the Azeri city of Khachmaz situated 160 kms to the north of capital Baku.
25 September 2006 [15:05]

Some 2 100 small state enterprises privatized in Azerbaijan

2 100 small state enterprises and facilities have been privatized since early year.
25 September 2006 [12:45]

Azerenergy warns 18 regions

Azerenergy OJSC warned 18 regions that they hadn't paid the gas bill completely.
25 September 2006 [11:24]

Foreign companies do not comply with their commitments

"The oil companies and other strategic enterprises operating in Ali Bayramli do not pay tax to the local budget but pay taxes in centralized form which results in the city’s needing subsidy from the center," saud MP Azay Guliyev.
25 September 2006 [11:19]

Georgia purposely delays Kars-Akhalkalaki-Tbilisi-Baku railway construction

"Georgia purposely delays the construction of the Kars-Akhalkalaki-Tbilisi-Baku railway line," said Turkish Foreign Ministry high ranking official.
25 September 2006 [09:20]

Oil slumps below $60

Oil prices fell to a six-month low under $60 a barrel on Monday as BP's move to restore output at Prudhoe Bay earlier than expected added to a sense of healthy, secure supplies, while demand growth questions loomed large.
25 September 2006 [08:56]

U.S. Senate panel blocks US funding for Turk-Azeri railroad

Backed by US Armenians, measure bans US Export-Import Bank loans for Kars-Tbilisi-Baku railway bypassing Armenia.
24 September 2006 [16:23]

SOCAR reps participated in oil exhibition Tabriz

Representatives of the State Oil Company attended the "Oil, gas and oil products" exhibition in Tabriz, Iran.
24 September 2006 [15:01]

Iran, Kazakhstan explore new avenues for developing bilateral ties

Bilateral trade, economic and cultural relations between Iran and Kazakhstan are dynamically developing.
24 September 2006 [12:53]

Azerbaijan's Parliament discussing customs deal to be signed with Moldova

The Milli Majlis is now discussing the customs agreement to be signed between Azerbaijan and Moldova.
23 September 2006 [11:58]

LG to explore Kazakh oilfield

South Korean trading house LG International will begin exploring an oilfield in Kazakhstan next month, the company said in a regulatory filing.
23 September 2006 [11:28]

Electricity of Lenkeran likely to be cut off

"Electricity supply to Lenkeran may be cut off unless any improvement is made in collection of bills," said Lenkeran Electricity Supply Department Director Gilman Rzayev.
23 September 2006 [01:34]

Wartsila supports Azeri wrestlers

Participation of Azerbaijani national team on in the European Championship held in Germany was possible thanks to the support of Baku Bureau of Finnish Vartsila Company, the Azerenergy SC said.
23 September 2006 [01:14]

U.S. expert: "Those playing Caspian Basin energy game may suffer from 'irrational exuberance'"

Policymakers are suffering from "irrational exuberance" when it comes to Caspian Basin energy issues, a US expert on the region says.
23 September 2006 [01:04]

President Aliyev: "Azerbaijan key to European energy security"

"Azerbaijan has turned into a major oil producer and this is of great importance for European energy security," President Ilham Aliyev told the International Bertelsmann Forum in Berlin, Germany on Friday.
23 September 2006 [01:01]

Azeri state oil company to invest in Georgia

Azerbaijan's state oil company SOCAR plans to implement new investment projects soon, a source from the company said.
23 September 2006 [00:59]

SOCAR to tap Caspian field on its own

Azerbaijan's state oil company SOCAR plans to tackle development of the Karabakh field in the Caspian Sea at its own expense, oil executives say.
23 September 2006 [00:48]

State oil company reports on 2005 financial performance

SOCAR made a profit of 1.2bn new manats ($1.36bn) in 2005, says its financial report for 2005 covering its profit, budgetary contributions, debt and other indicators.
22 September 2006 [16:46]

Sabir Aliyev: "That European States banned Azeri nut exports is false"

Information that European Countries banned walnut and hazelnut exports of Azerbaijan is false.
22 September 2006 [15:42]

Securities Committee chairman gives media briefing on January-August

Today chairman of Azerbaijan's State Committee on Securities, Gunduz Mammadov, gave a press conference on the activities carried out during January-August.
22 September 2006 [15:39]

Oil leaks into Shirvan water collection in Ali Bayramli

Oil leaked from the pipeline crossing Ali Bayramli into Shirvan water collection, Huseynov Khaligverdi, Ali Bayramli Ecology and Natural Resources department chief told.
22 September 2006 [15:31]

Some Azerbaijani drugstores sell medicine smuggled from Georgia

Azerbaijani Health Ministry's Innovation and Procurement Center raided drugstores in Tovuz, Agstafa and Gazakh regions.
22 September 2006 [11:25]

Zarifa Aliyeva Vessel to be launched Sep. 26

The seventh dry-cargo vessel built in Volgograd Shipyard on the order of PALMALI Group of Companies will be launched on September 26.
22 September 2006 [11:21]

Trades at BICEX

The weighted average exchange price made up 0.8760 AZN/USD at trading sessions held at the Baku Interbank Currency Exchange.
22 September 2006 [11:16]

U.S. Department of State and Azerbaijani MCIT conclude preliminary MOU

Preliminary Memorandum of Understanding was signed between U.S. Department of State and Azerbaijani Ministry of Communication and Information Technologies (MCIT).
22 September 2006 [10:16]

1H06 profits of enterprises rose by 39% in Azerbaijan

Enterprises and institutions (excluding agricultural ones) operating in Azerbaijan have gained an income of AZN 1323.8mn and have had a deficit of AZN 155.6 mn in the first half of this year.
22 September 2006 [10:07]

Incomes and expenditures of the State Budget of Azerbaijan increase by 88.5% and 66.2% respectively

The incomes of the State Budget of Azerbaijan increased by 88.5% during January-July as against the same period last year and equaled AZN 2 077.7 mn.
22 September 2006 [09:52]

SOCAR announces tender for export of REBCO crude oil

SOCAR Marketing and Business Operations Department has announced a tender on the export of 1mn barrel of REBCO crude oil through Novorossiysk port.
22 September 2006 [09:44]

Communications services increased by 25% in Azerbaijan

Communications services of AZN 345.9mn were provided for the legal entities and individuals in Azerbaijan during January-August.
21 September 2006 [15:32]

Registration fee of domain names to be decreased by 1.5 times

Registration fee for the Internet Address (domain names) will be decreased by 1.5 times, Intrans Provider director general Faig Farmanov said.
21 September 2006 [13:59]

New banknotes constitute 90% in circulation in Azerbaijan

New banknotes make 90 percent in the circulation in Azerbaijan now.
21 September 2006 [09:58]

EurasiaNet: Whither Azerbaijan's oil profits?

Today marks the 12th anniversary of the signing of the "deal of the century" that brought the Baku-Tbilisi-Ceyhan pipeline into being.
21 September 2006 [09:49]

Azercell's chief meets with volleyball club's players

Azercell Telecom JV Director General Halim Atesh met with Rabita volleyball club's players.
21 September 2006 [09:47]

Auction on placement of NBA's notes held at BSE

Auction on placement of short-term notes of National Bank of Azerbaijan with the state registration number 50103812S was held at Baku Stock Exchange on Wednesday.
21 September 2006 [09:46]

Azerbaijan to continue cooperation with IMF and WB

Azerbaijan's Finance Minister Samir Sharifov met with IMF's reprehensive Augustine Carstens and World Bank's representative Greyem Weller in Singapore.
21 September 2006 [09:31]

Azersu announces tender

Azersu OJSC has announced a tender for consulting service in Oghuz-Gabala-Baku Water Pipeline Project.
21 September 2006 [09:30]

Capital flow to Azerbaijan increasing

The Azerbaijan SME Support through Financial Sector Development Project held a half-day workshop on USAID's Development Credit Authority (DCA) Guarantee Program.
20 September 2006 [20:12]

Hydrocarbon boom sparks fears of Dutch disease in Azerbaijan

Twelve years ago today, against a background of euphoric predictions of booming national wealth, Azerbaijan signed its first major oil contract with a Western company.
20 September 2006 [19:54]

USAID Caucasus regional mission head replaced

The head of the USAID Caucasus regional mission has been changed.
20 September 2006 [19:48]

Delegation of the US-Azerbaijan Chamber of Commerce to visit Baku

The delegation of the US-Azerbaijan Chamber of Commerce led by its Chairman James Baker will arrive in Baku on October 1, press service of Azerbaijan's Ministry of Economic Development said.
20 September 2006 [19:39]

Trades at BICEX

The weighted average exchange prices made up 0.8762 AZN for 1 US dollar in the Baku Interbank Currency Exchange on September 20.
20 September 2006 [16:17]

Economic Development Ministry released economic forecasts of Azerbaijan

The Gross Domestic Product of Azerbaijan is forecasted to be AZN 18.1bn in the end of this year and AZN 22.2bn next year off which 77% and 79% will be produced by the private sector Azerbaijan's Economic Development Ministry said.
20 September 2006 [15:40]

Price of petrol imported by Georgia from Azerbaijan reduced

Union of oil products enterprisers, importers and consumers announced list of filling stations where price of imported petrol is reduced by GEL 0,10-0,15 from Tuesday.
20 September 2006 [15:37]

Azerbaijan's oil output to hit 47 mln tons in 2007

Azerbaijan's crude production will reach 47 million metric tons (345 mln bbl) in 2007, rising about 40% over the next two years, the president of the country's state-run oil company said Wednesday.
20 September 2006 [13:57]

Natig Aliyev: "Azerbaijan won't buy Russian gas unless price is reasonable"

Azerbaijan may refuse to import Russian gas next year if the price isn't satisfactory, Industry and Energy Minister Natig Aliyev said.
20 September 2006 [13:47]

Rovnag Abdullayev: "No gas and gasoline price rise next year"

The price of gasoline and liquid gas won't be raised next year, SOCAR President Rovnag Abdullayev said.
20 September 2006 [10:06]

ADP provides workshop within CAREC Program

Asian Development Bank will hold a workshop within the Central Asia Regional Economic Cooperation (CAREC) Program.
20 September 2006 [10:03]

Azerbaijan, WTO to continue talks

Next round of negotiations between Azerbaijan and the World Trade Organization will take place in Geneva later this year.
20 September 2006 [10:01]

Social protection bodies registered 12.7 percent of foreigners working in Azerbaijan

Foreigners working for BP-Azerbaijan will be attracted to state compulsory social insurance, State Social Protection Foundation chief Salim Muslumov said.
20 September 2006 [10:01]

EU and Azerbaijan to sign energy agreement

Azerbaijan and the European Union can sign an agreement on energy cooperation after the Action Plan was confirmed.
20 September 2006 [10:00]

Auction on placement of T-bills of Finance Ministry held at BSE

The placement of T-bills of Ministry of Finance with the state registration number 10302713S was held at Baku Stock Exchange.
20 September 2006 [09:57]

Fuel filling stations to be checked again

Industry and Energy Ministry will start checkeing of fuel stations in a few days.
20 September 2006 [09:55]

Lenkeran to stay without gas until gas bills paid

Gas supply to Lenkeran and some settlements will be restored after the gas bills are paid.
20 September 2006 [09:27]

Transportation tariff rose by 6.8% in Azerbaijan

Transportation fees have fallen by 0.7 percent as against previous months but rose by 6.8 percent in comparison with December last year.
20 September 2006 [09:23]

Basic pension to rise by 50 % by late 2007

State Social Protection Foundation has coordinated preliminary parameters of the budget for 2007.
20 September 2006 [09:19]

International health and dental exhibition to take place in Baku, Sep. 26-29

BIHE-2006 – 12th Azerbaijan International Health Exhibition and Dental Azerbaijan 2006 – 1st Azerbaijan International Dental Exhibition will take place in Heydar Aliyev Sport and Concert Palace on September 26.
20 September 2006 [09:13]

Armenians extract about 30 tonnes of gold in Azerbaijani occupied region

Armenians have extracted nearly 30 tonnes of gold from Soyudlu gold deposit in the occupied Azerbaijani region of Kalbajar.