Azerbaijan News

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Azerbaijan and Turkey sign Agreement on strategic partnership and mutual aid

An Agreement on strategic partnership and mutual aid has been signed today between the president of Azerbaijan, Ilham  Aliyev, and the president of Turkey, Abdullah Gül, reports Novosti – Azerbaijan.During Gul's visit to Azerbaijan, problems of  energy partnership, expansion of trade and peacemaking in the Caucasus were discussed.

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The halting of Russian grain exports will not affect the Azerbaijan market, says the press secretary of the Ministry of Agriculture Murtusali Gadzhiev. According to him, annual imports of grain from Russia are only 13 % of total Azerbaijani imports and this year the harvest and imports allow the needs of the country to be fulfilled without it, reports ITAR-TASS.16.08.2010

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BP takes out credit to buy Azerbaijani oil.British Oil Company BP took out a five-year credit from Royal Bank of Scotland and Societe Generale amounting to $2 billion, reports Reuters.These credits will be maintained by selling oil from the deep-water oil field Gunashli in Azerbaijan. The money will be remitted to BP by the end of September.

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Baku Stock market changes its logo. According to the  new development strategy for 2010-2012, the Stock Market of Baku (SMB) is changing its official logo from August 16th, reports Turan. The new logotype reflects the role of  SMB in the financial sector of the country. The former logo has not been changed since the foundation of the SMB in 2000.

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State Oil Company of Azerbaijan (SOCAR) enters Ukrainian retail market. SOCAR's first petrol station in Ukraine started working in test mode on August 7th in Odessa, reports Turan. The station sells high-octane fuel from Romania and Lithuania and EN590 standard fuel.The official entry into the retail market of the Odessky region is planned for September, a SOCAR representative said.

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From January to June of 2010 Azerbaijan exported 992,603,900 cubic meters of gas, says the State Customs Committee of Azerbaijan, reports 1news.az .Exports decreased by 493,518,100 cubic meters of gas or 49.7%. 671,711,400 cubic meters of gas were exported in 2009, 44,9 % (369,788,600 cubic meters) less than in 2008.16.08.2010

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The president of Turkey Abdullah GЭl is arriving in Azerbaijan on a two-day official visit, reports ITAR-TASS. Negotiations concerning energy, transport and investments between him and his colleague will take place.Ways of resolving the conflict in Nagorno-Karabakh will also be discussed. An agreement on a mutual non-visa regime will be signed at the end of the visit.16.08.2010

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18 years have passed since the Azerbaijani national currency was introduced. The manat became the official currency of Azerbaijan on August the 15th 1995, ANS reports.In 2006 a 1/5000 devaluation of the currency took place, as the inflation level in the country dramatically increased.

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 A new programme for needy families is to be tested in the Azerbaijani districts of Gubinsky and Ismaillinsky by order of the World Bank, reports Trend. The programme is to start in 2011, and there are plans to expand it in 2012. Several innovations are to be imposed in the targeted social assistance.

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The Bulgarian state company Bulgartransgaz is developing two gas supply routes from Azerbaijan. One of the routes will go via Turkey and another one via the Black sea. Bulgaria can provide up to 50% of its consumable gas with Azerbaijani supplies, Bulgarian mass media report. On the 10th of August an Azerbaijani-Bulgarian working group held a meeting to discuss specifics relating to the supplies.

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It is important to take the fullest measures towards dialogue in solving conflicts in the South Caucasus and there is need for compromise between the opposing sides, the chairman-in-office of the OSCE, Kazakh Foreign Minister Kanat Saudabayev, said in an interview to Kazakh media

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The consortium of the pipeline project ‘White Stream’ believes that the Caspian region has enough gas resources for realization of several projects within the European ‘South Corridor’ project, which involves diversification of sources and routes of energy supplies to EU countries, Trend reports, citing the chairman of the British 'White Stream Pipeline Company, Robert Pirani.

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A house has exploded this morning in Baku, APA reports, citing the police of Nasimin region. The explosion happened on Rasul Rza Street as a result of a gas leak, 5 people were hospitalized.66 year old Vagif Sadygov, 37 year old Kenul Sadygova and her three-year-old son Suleyman Sadygov were hospitalized to the burns section of hospital No5 with grave injuries.

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300 OSCE observers will monitor the parliamentary elections in Azerbaijan, the head of OSCE office in Baku, Ali Bilge Jankorel, said.A small group will arrive in early September and 15 or 16 long-term observers will arrive in mid-September. Azerbaijan plans to hold parliamentary elections on November 7th 2010. The previous elections were held in November 2005. The elections are held using the majority-vote system in 125 electoral districts, Trend reports.

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