Economy

Standard & Poor`s assigns highest rating to Azerenerji among electric power companies in region

15.02.2013 | Readed: 2203

Standard & Poor`s Ratings Services said today that it has assigned its `BBB-` long-term and `A-3` short-term corporate credit ratings to Azerbaijan-based electric utility Azerenerji JSC. The outlook is stable. The decision of S&P, which has in its......

“The first national satellite is as important as the “Contract of the Century”, Ambassador Karimov

12.02.2013 | Readed: 1864

“The first national satellite Azerspace-1 is as important for the development of non-oil sector of Azerbaijan as the “Contract of the Century” signed thanks to the resolute and powerful will of the national leader Heydar Aliyev, was significant for......

Azerspace-1 is result of cooperation between Malaysia and Azerbaijan, Khoo Teng Bin

11.02.2013 | Readed: 3855

Azerbaijan’s first communications satellite Azerspace-1 is the result of cooperation between Malaysia and Azerbaijan. This project will strengthen further in the future the brotherly relations between the two countries, Member of the Board of Directors of Measat......

Serbian President meets Azeri businessmen

11.02.2013 | Readed: 1651

On February 9th Serbian President Tomislav Nikolic met Azerbaijani business people as part of his visit to the country. The meeting was attended by Azerbaijani officials and nearly 50 businessmen from the fields of agriculture, food industry, construction,......

Launch of Azerspace-1 satellite is watched in Malaysia

09.02.2013 | Readed: 1952

On February 8th a special event has been organized at the headquarters of Malaysia`s Measat Satellite Systems (MEASAT) company in Kuala Lumpur for watching live the launch of Azerbaijan`s first communications satellite Azerspace-1. Participants in the event......

2nd Tax Forum on "Tax system of Azerbaijan: realities and prospects" kicks off in Baku

09.02.2013 | Readed: 1386

The 2nd Tax forum on the "Tax system of Azerbaijan: realities and prospects" has got underway in Baku. Speaking at the event, Chairman of the Parliament’s Chairman of Economic Policy Committee, Ziyad Samadzade stressed the significance of forum in the......

Launch of Azerspace-1 satellite is historical event, YAP Executive Secretary

09.02.2013 | Readed: 1596

The launch of first communications satellite Azerspace-1 is a historical event for Azerbaijan. I congratulate the President of Azerbaijan Ilham Aliyev and the people of our country, vice-chairman of YAP, Executive Secretary Ali Ahmadov told a press......

UGE-LANCER PTE. LTD joins EITI implementation process in Azerbaijan

28.01.2013 | Readed: 2377

UGE-LANCER PTE.LTD became the next extractive sector company that joined Memorandum of Understanding on implementation of the Extractive Industries Transparency Initiative in Azerbaijan by signing the Instrument of Accession to MOU. UGE-LANCER PTE.LTD will submit......

Two MoUs signed at annual reception "SOCAR – Energy of Azerbaijan" in Davos

25.01.2013 | Readed: 2343

The State Oil Company of the Azerbaijan Republic (SOCAR) held an annual reception in Davos named "SOCAR – Energy of Azerbaijan" as part of the general program of the Azerbaijani delegation at the World Economic Forum. The President of SOCAR, Mr. Rovnag......

Azerbaijan, BP discuss cooperation

23.01.2013 | Readed: 2565

Azerbaijan and BP have explored ways of developing cooperation as the country`s Minister of Foreign Affairs Elmar Mammadyarov has met BP regional president for Azerbaijan, Georgia and Turkey Gordon Birrell and the Company`s Vice President, Huseyn......

Azerbaijan attends International Green Week-2013 fair in Germany

21.01.2013 | Readed: 2650

Nearly 30 Azerbaijani companies are attending Green week-2013 International Trade Fair for the food industry, horticulture, agriculture and forestry in Berlin. Minister of Agriculture Ismat Abasov, who leads the delegation, attended the opening ceremony of......

Azerbaijan-Slovenia business forum kicks off in Baku

17.01.2013 | Readed: 1917

On January 16th Azerbaijani and Slovenian businessmen come together in Baku for a joint forum aimed at exploring ways of developing the bilateral relations. The forum takes place as part of Slovenian Prime Minister Janez Jansa`s visit to Azerbaijan`s......

Slovenia interested in cooperation with Azerbaijan in many fields

17.01.2013 | Readed: 1672

Slovenia is interested in cooperation with Azerbaijan in various fields, Slovenian PM Yanez Yansha said at business forum held in Baku. According to Slovenian official, at present, trade turnover between then two countries are not at a satisfactory level, whereas both sides have great......

Azerbaijani PM meets Slovenian counterpart

17.01.2013 | Readed: 1595

On January 16th Azerbaijan`s Prime Minister Artur Rasizadeh met a Slovenian delegation led by PM Janez Jansa. The meeting focused on bilateral cooperation, and the two premiers noted the two countries have “wide” opportunities for further expanding......

Azerbaijani State Oil Fund brings first batch of gold

12.01.2013 | Readed: 1708

Approximately, 1 ton (32 150 troy ounces) of the purchased gold, conforming to the requirements of LBMA was transferred to Azerbaijan by UK`s Brink`s Global Services on January 11, 2013 and temporarily stored in the vaults of the Central Bank of the Republic of......

Azerbaijan`s Minister of Communications and Information Technologies meets Swedish Ambassador

26.12.2012 | Readed: 1580

Azerbaijan`s Minister of Communications and Information Technologies Ali Abbasov has met Swedish ambassador Michael Ericsson. Michael Ericsson highlighted the reforms in the ICT sphere, as well as regional projects carrying out in the country. He also noted......

German Development Bank (KfW) and Government of Azerbaijan sign credit agreement

21.12.2012 | Readed: 1608

On December 20th in the meeting held at the Cabinet of Ministers of Azerbaijan, chaired by the deputy premier Abid Sharifov, the German Development Bank (KfW) and the Government of Azerbaijan signed a credit agreement to finance the Ganja-Sheki water-sewerage......

SOFAZ starts property spree in London

19.12.2012 | Readed: 1681

The State Oil Fund of Azerbaijan (SOFAZ) confirmed on Monday that it had acquired a £180m office block on St James`s Street as the maiden purchase in its bid to build a European real estate portfolio. The deal is the latest example a foreign government......

Azerbaijan, Argentine discuss expansion of cooperation in customs sphere

18.12.2012 | Readed: 1367

On December 17th Azerbaijan and Argentine explored ways of developing cooperation, as Chairman of the State Customs Committee, customs service Lieutenant General Aydin Aliyev has met Head of the Federal Administration of Public Revenue in Argentina Ricardo......

Event to mark 20th anniversary of cooperation between WB and Azerbaijan held

16.12.2012 | Readed: 1122

  An event celebrating 20th anniversary of cooperation between the World Bank (WB) and Azerbaijan has been held. The event featured the period of cooperation beetween Azerbaijan and the World Bank. Touching uopn the 20 years......

BSEC FMs convene in Istanbul

16.12.2012 | Readed: 990

Istanbul hosted the 27th Meeting of the Council of Ministers of Foreign Affairs of the BSEC. Azerbaijan`s delegation at the event was headed by Foreign Minister Elmar Mammadyarov. The meeting saw Ukraine take over the chairmanship of the council from Turkey......

ADB`s new partnership strategy on Azerbaijan to be signed next year

14.12.2012 | Readed: 1220

New partnership strategy of the Asian Development Bank (ADB) on Azerbaijan will be signed next year, said Resident Representative of the Bank for Azerbaijan Olly Norojono at a press conference dedicated to outcomes of the bank`s activity in Azerbaijan in......

Azerbaijan, Asian Development Bank discuss cooperation

11.12.2012 | Readed: 1486

Azerbaijan and Asian Development Bank (ADB) have explored ways of developing cooperation as the country`s Finance Minister Samir Sharifov the bank`s Director General for Central and West Asia Klaus Gerhauzer. They discussed common directions of the......

Discussions on the theme “Azerbaijan - Eurasian Centre of Silk Road” held in Washington

08.12.2012 | Readed: 1045

Azerbaijani Ambassador to the United States Elin Suleymanov delivered a lecture on the theme “Azerbaijan: Eurasian center of Silk Road” at the Rumi Forum for Interfaith and Intercultural Dialogue in Washington. The diplomat touched on Azerbaijan’s......

Istanbul hosts Caspian forum on energy and security

07.12.2012 | Readed: 1023

Politicians and energy experts are discussing energy and security issues at a Caspian forum which kicked off in Istanbul, Turkey on December 6th. The forum is organized by the International Institute for Strategic Studies (IISS), Turkish International......

Prime Minister of Latvia visits Sangachal oil terminal

01.12.2012 | Readed: 1119

On November 30th Prime Minister of Latvia Valdis Dombrovskis visited the Sangachal oil terminal. The tour began from the Caspian Energy Center which was established to increase youth interest in oil-gas sector. Valdis Dombrovskis was told that large-scale energy projects had been......

Milli Majlis adopts state budget for 2013

01.12.2012 | Readed: 983

The Parliament of Azerbaijan adopted the state budget for 2013.  Speaking at the session in the Parliament, Finance Minister of Azerbaijan, Samir Sharifov noted that the analysis of deputy proposals part of which was taken into account was held while elaborating the budget. By other......

Baku hosts Azerbaijan-Serbia business forum

27.11.2012 | Readed: 1026

On November 26th Baku hosted an Azerbaijan-Serbia business forum organized by Azerbaijan Export and Investment Promotion Foundation (AZPROMO).  The forum brought together officials, as well as the two countries` businessmen from the fields of construction, food industry, agriculture,......

Azerbaijani Finance Minister meets Secretary General of Black Sea Trade and Development Bank

27.11.2012 | Readed: 1073

On November 26th Azerbaijan`s Finance Minister Samir Sharifov met Secretary General of Black Sea Trade and Development Bank (BSTDB) Orsalia Kalantzopoulos. They expressed satisfaction on the fruitful development of the relations between Azerbaijan and the BSTDB, adding this cooperation had......

3rd Black Sea trade and investment forum held in Baku

27.11.2012 | Readed: 1057

Within the Parliamentary Assembly of the Black Sea Economic Cooperation summit, the III Black Sea Trade and Investment Forum is underway in Baku. The forum is attended by representatives of the business circles of the 12-member organization. The ceremony on the occasion of the Forum was......

"Azerbaijan is a rapidly developing country in the region"

27.11.2012 | Readed: 980

Azerbaijan is a rapidly developing country in the region, Speaker of Grand National Assembly of Turkey Cemil Cicek said Monday at a meeting with Speaker of Azerbaijan National Assembly Ogtay Asadov.  Cicek underscored the role of legislative bodies of the two countries in boosting......

PABSEC General Assembly`s 40th plenary session kicks off in Baku

27.11.2012 | Readed: 1013

The 40th Plenary Session of the Parliamentary Assembly of the Black Sea Economic Cooperation (PABSEC) started in Baku.  Opening the session, President of PABSEC and Speaker of the Azerbaijani Parliament Ogtay Asadov noted that such meetings foster development of multilateral relations......

Azerbaijan, Serbia: trade turnover rose by 15 times in Jan-Sept

27.11.2012 | Readed: 984

"Trade turnover between Azerbaijan and Serbia has increased by 15 times in the first nine months of this year, compared with the same period of last year", Azerbaijani Minister for Economic Development Shahin Mustafayev said during Azerbaijan-Serbia business forum held in Baku. The......

Socar President Rovnag Abdullayev gives interview to Azerbaijani service of BBC and Dow Jones

24.11.2012 | Readed: 1028

President of the State Oil Company of Azerbaijan Republic (Socar) Rovnag Abdullayev on Thursday gave interview to the Azerbaijani service of BBC and Dow Jones, one of the world's most trusted publishers of accurate financial news and business.  In an interview Abdullayev described......

Azerbaijan`s IT minister meets Speaker of the Illinois House of Representatives

20.11.2012 | Readed: 988

On November 19th minister of communication and information technology of Azerbaijan Ali Abbasov met with the visiting Speaker of the Illinois House of Representatives Michael J. Madigan. Abbasov updated the American guest on the works done in the field of information technology in the......

Baku hosts 5th CIS International Banking Conference

16.11.2012 | Readed: 998

On November 15th the 5th CIS International Banking Conference entitled "The financial markets of CIS: new opportunities and global risks" kicked off in Baku. Head of Azerbaijan`s Presidential Administration, academician Ramiz Mehdiyev, also attended the conference, organized by CIS......

Azerbaijan`s Minister of Finance meets Director of IMF`s Middle East and Central Asia Department

16.11.2012 | Readed: 939

On November 15th Azerbaijan`s Minister of Finance Samir Sharifov met a delegation led by Director of the International Monetary Fund`s Middle East and Central Asia Department Masood Ahmed. They discussed Azerbaijan`s economic prospects, priorities of the country`s economic policy,......

Ambassador: Great Britain is proud of being largest foreign investor in Azerbaijan

16.11.2012 | Readed: 1035

British Ambassador in Baku Peter Bateman has said his country is proud of being the largest foreign investor in Azerbaijan. "Great Britain is proud of its status of the largest foreign investor in Azerbaijan. This relationship serves to the benefit of both countries` people," he said.......

Baku hosts Azerbaijan-UAE business forum

15.11.2012 | Readed: 1050

An Azerbaijan-United Arab Emirates business forum was took place here. The forum was supported by country`s Ministry of Economic Development and organized by the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and Dubai Chamber of Commerce and Industry. The event......

Azerbaijan attaches great importance to cooperation with IMF

09.11.2012 | Readed: 987

On November 8th Azerbaijani Minister of Finance Samir Sharifov met with a delegation led by Raja Almarzoqi, International Monetary Fund`s new Mission Chief to the country.  During the meeting, they discussed a wide range of issues, including the macroeconomic trends and prospects, the......

Baku hosts Azerbaijan-US ICT forum

08.11.2012 | Readed: 1027

Baku hosts Azerbaijan-US information-communication technology forum organized by Azerbaijan Communication and Information Technologies Ministry and US Embassy to Azerbaijan. The forum is attended by the employees of the Communication and Information Technologies Ministry, statesmen and......

Azerbaijan`s Oil Fund to finance TANAP

08.11.2012 | Readed: 1140

Azerbaijan`s State Oil Fund (SOFAZ) has said it will finance the building of Trans-Anatolian Gas Pipeline (TANAP).  Speaking at a joint meeting of parliamentary commissions, SOFAZ Executive Director Shahmar Movsumov said the Fund would allocate the money from its 2013 budget for the......


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