News

The bill on state budget for 2010 will be put for discussion in the parliament for confirmation on November 25, the parliament told APA.

A certificate awarding ceremony of the international awareness campaign "Justice for Khojaly", initiated by Mrs. Leyla Aliyeva, General Coordinator for Intercultural Dialogue of the Islamic Conference Youth Forum for Dialogue and Cooperation (ICYF-DC), will be held in Baku on Monday.

It is very important that U.S. policymakers have said they would pursue a strong dollar policy, European Central Bank President Jean-Claude Trichet said on Thursday.

Azerbaijan’s state-owned mail service company Azeri Post has announced a tender for the procurement of computer hardware as part of the World Bank-funded Financial Services Development Project.

French utility GDF Suez, which is already in talks to join the OAO Gazprom-led Nord Stream pipeline, would also be prepared to take a fresh look at the Nabucco pipeline project, the Wall Street Journal quoted Chief Executive Gerard Mestrallet as saying.

A two-day conference on “The Role of Transparency in Financial Resources Management in Post-Crisis Economy” has today kicked off in Baku.

The Central Bank of Azerbaijan issued a license to the Azerbaijani national postal operator LLC Azerpocht to provide financial services to the public, Minister of Communications and Information Technologies, Ali Abbasov said on Oct. 9.

On Oct. 28, the sea passenger transport will be restored between the Iranian port of Anzali and Azerbaijani port of Baku, the source at the Baku International Sea Trade Port said on Oct. 8.

According to IMF forecasts, growth of real GDP will slightly reduce in Azerbaijan but preserve as positive by hitting 7.5 percent in 2009 but 7.4 percent in 2010, head of IMF representation in Baku Koba Gvenetadze said at a press-conference dedicated to presentation of the fund's report 'Prospects of world economy development' on October 8.

The Azerbaijani Industry and Energy Ministry has devised and submitted to the Azerbaijani Presidential Administration a draft proposal for the agency of alternative and renewable energy, Deputy Industry and Energy Minister Gulmirza Javadov said on Oct.12.

The French company Total has returned to work in the oil and gas industry in Iran, Rza Kasaizade, Director General of the Iran National Gas Company said, official news site of the Iranian TV channel reported.

A great part of the global financial and economic crisis is behind, believes analysts of the British Capital Economics company.

Turkmenistan has rich reserves of hydrocarbon. While delivering them to the international markets, it contributes much in overcoming the world economic crisis, Turkmen President Gurbanguly Berdimuhammedov told the national security staff on occasion of their professional holiday.

Georgia's s public budget for 2010 will be increased. This decision was taken at the cabinet meeting.

South Korean steelmaker POSCO (005490.KS) said on Wednesday it had agreed to set up a joint venture with Kazakhstan's UKTMP to produce titanium slab from late 2010, Reuters reported.

The geographic information system in tourism will be put into operation by mid-2010, said Director of Business Development of Sinam company, Islam Ahmadov, told Trend Capital.

The first stock indexes can be applied in Azerbaijan after providing duration of operations with securities on the primary and secondary markets, said Rufat Aslanli, the chairman of the State Committee for Securities of Azerbaijan.

The world economy continues to show weak rehabilitation, beyond all expectations. Nevertheless, the forecasts for the further stabilization of economy remain quite optimistic. According to the head of the Dominique Strauss-Kahn Fund, the world economy may not be restored in the first half of 2010 as previously expected, but one quarter earlier.

The tender commission of the Azerbaijani Committee on Architecture and Town Building is about to complete unsealing the results of the tender on the development of the Regional Development Program of Greater Baku, Head of the Information and International Relations Department, Jahangir Gijayev, said on Sept. 28.

Experience shows that initiated and implemented projects in Azerbaijan continue to lead to the implementation of other projects. This was said by Azerbaijan President Ilham Aliyev at a joint press conference with President of Romania in Bucharest, the state news agency Azertag reported.

State Oil Company of Azerbaijan intends through Romania to expand its activities in the European Union. This was said by Romanian President Traian Basescu at a joint press conference with President of Azerbaijan in Bucharest, the state news agency Azertag reported.

The South Corridor Project will provide 10 percent of gas demand in Europe by 2020, EU Commissioner for Energy, Andris Piebalgs said at a news conference in Baku on Sept. 15.

In 2020, gas production in Azerbaijan, is projected to increase to 35-40 billion cubic meters compared to 27 billion cubic meters this year, said Rovnag Abdullayev, the Head of the State Oil Company of Azerbaijan Republic (SOCAR).

Over 166 million tons of light oil was produced from the Azerbaijani oil field "Azeri-Chirag-Guneshli", which is included in the top ten on recoverable reserves, from November 1997 to late August 2009.

Remember the saying: the time is money! The value system has been changed for many people around the world for a long time: the time is more precious than money, and not vice versa! For example, one of the best analysts and practitioners of branding, Marc Gobe writes about it.

The Nabucco Gas Pipeline will not have problems with filling, the German company RWE Supply & Trading reported.

Amid the recession, rock stars, diplomats and other celebrities find solace from the doom and gloom by spending their time in sanctuary provided by the world’s most luxurious, and expensive, hotels.

Nabucco gas pipeline partner states will not allow that a new energy infrastructure be organized at the first stage of the project. Therefore, the information as if Georgia may be replaced by Armenia in the Nabucco project is exaggerated, the Energy Ministry of Georgia says, BNE portal BNE (www.businessneweurope.eu) reported.

In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises, Telegraph reported.

Deutsche Telekom says that it and France Telecom plan to merge their British cell phone units to form what would be the country’s biggest mobile operator.

In Azerbaijan, an association of meat and meat product producers has been founded and its founders are the six largest sausage and sausage product producers in the country - Sevimli Dad, Elba-999, SAB, 1000 bereket, GF Kristal, Kral.

General Motors Co. said Monday it would explore developing an inexpensive small vehicle for emerging markets to compete with Tata Motors’ Nano compact car.

The Azerbaijani Tax Ministry has developed new methodology for the tax audit process, as part of introducing advanced methods for tax audits based on international experience in auditing taxpayers, with the support of the Office of Technical Assistance to the U.S. Treasury Department, the ministry reported.

An international rating agency, Planet Rating, has assigned the Azerbaijani Azerdemiryolbank a "B +" rating with a "positive" forecast, the bank reported.

The Board of Directors of the International Finance Corporation (IFC) plans to approve 20 million dollars loan for Azerbaijani Bank Respublika, said the Corporation.

The Azerbaijani State Customs Committee has announced the national trade figures for January-July 2009. Azerbaijan engages in trade operations with 126 countries, the committee reported.

The ex-Advisor to the U.S Secretary of State on Political Affairs, Marc Grossman, considers that the Nabucco project, which will transport gas from the Caspian region and the Middle East to the EU, will not face difficulties being filled.

Elcell wireless broadband and Hewlett Packard (HP) Computers announce a joint marketing campaign which enables new customers to purchase HP notebook at a highly attractive price bundled with elcell wireless USB modems this summer.

The continuation of Baku-Tel-Aviv flights is beneficial for both countries as the interest is not only a commercial one, the Israeli Ambassador to Azerbaijan, Michael Lavon-Lotem, said on August 17.

In January-July 2009, Azerbaijani GDP increased 2.7 percent compared to 2008, the State Statistics Committee said. In current prices GDP indicator made up 17.34 billion manat.

The Baku-Tbilisi-Ceyhan (BTC) oil pipeline transported 1 million tons of the Kazakh Tengiz oil in January to July, compared to 907,700 tons in Januaryto June, the Azerbaijani state statistics committee said.

Rural Investment Project (AZRIP) carried out by the State Agency on Agricultural Credits under the Ministry of Agriculture assisted the communities in various regions to improve their knowledge and skills, said World Bank country manager for Azerbaijan Gregory Jedrzejczak on Tuesday, in a press conference on the AZRIP results, APA-ECONOMICS reports.

President Ilham Aliyev issued an order on establishing of the Azerbaijan Railways Close Joint-Stock Company

Trade/Corporate Visitors registration for 9th ITCN Asia Int’l Exhibition started. 9th ITCN Asia 2009 - Information Technology & Telecom Showis being organized from 11-13 August 2009 at Karachi Expo Centre by Ecommerce Gateway Pakistan (Pvt.) Ltd. and Jamal’s Yellow Pages of Pakistanin support with the Ministry of Information Technology & Telecom.

The 73th exhibition “Fiera dell Levante” will be held from 12-20 September, 2009 in Bari, Italy. Azerbaijan businessmen have been invited for participation in the exhibition, too.

The MAPIC 2009: International Real estate Exhibition will be held from 18-20 November, 2009 in Cannes, France. MAPIC is a unique event in the retail real estate industry. The GSO company invites you to take part in this exhibition.

According to the agreement between the State Oil Company of Azerbaijan Republic (SOCAR) and Turkey’s Botas Company, the next round of the gas talks between the officials of both companies will be held in August, SOCAR sources told APA-ECONOMICS.

In 2009, the International Energy Agency (IEA) forecasts dramatic cut in energy investments in many regions.

A transit agreement between Azerbaijan and Turkey is necessary to implement the ITGI gas pipeline project, the Italian Ambassador to Azerbaijan, Gian Luigi Masha, said in Baku on July 15.

The French TOTAL denied some media outlets on closure of the company's Baku office in July.

A tripartite agreement was signed on July 14 in Sofia for transportation of Azerbaijani gas to Bulgaria within the ITGI project, Italian ambassador to Azerbaijan Gian Luigi Masha told journalists, APA reports.