Economy - Avciya.Az

Nabucco submits Environmental Impact Assessment Report to Turkey

gunay — Wed, 08 Feb 2012 13:41:20 +0400

Nabucco Gas Pipeline International submitted the Environmental Impact Assessment (EIA) Report to the Turkish Ministry of Environment and Urbanization. According to the statement of Nabucco Gas Pipeline International, published on its official website, the EIA report for the 760 km long section between Ankara and Turkish-Bulgarian Border was prepared according the format determined by the ministry in its decision given in July 2010.

Taxes to be paid through mobile phones in Azerbaijan

gunay — Tue, 07 Feb 2012 17:04:28 +0400

Tax and state fees in Azerbaijan started to be paid in online regime in accordance with the order of Minister of Taxes Fazil Mammadov. According to APA-ECONOMICS, Deputy Minister of Taxes Sahib Alekberov, taxes and state fees can be paid from any places.

Azerbaijani oil and gas sector not affected by bad weather conditions

gunay — Tue, 07 Feb 2012 12:11:28 +0400

Bad weather conditions do not cause any problem in conducting oil and gas operations in Azerbaijan, the State Oil Company of Azerbaijan (SOCAR) told Trend on Tuesday. According to the report, the work is carried out both on onshore and offshore oil and gas fields in normal mode. Also, all processing and production units of oil and gas industry operate in normal mode. "Bad weather has not affected the oil and gas sector. Extraction, drilling, production and export operations are carried out in normal mode," SOCAR said.

SOCAR completes debut Eurobond transaction

gunay — Mon, 06 Feb 2012 12:08:24 +0400

State Oil Company of Azerbaijan has completed debut Eurobond transaction successfully. According to SOCAR, placement of Eurobonds was interested by investors and consequently, volume of issue ordered by 290 investors made $4.6 bln. Volume of issue was $500 mln, annual YTM – 5.45%. The maturity date is until 2017. Joint Lead Managers are Citi Group Global Markets Ltd, Deutsche Bank AG (London branch) and The Royal Bank of Scotland Plc. Co-Managers are Nomura International Plc. and Societe Generale S.A.Trustee is Deutsche Trustee Company Ltd. Principal Paying and Transfer Agent is Deutsche Bank AG (London branch).

Gazprom says unable to meet greater Europe gas demand

gunay — Mon, 06 Feb 2012 12:05:55 +0400

Russian gas exporter Gazprom has brought supplies to Europe back up to normal after reducing them "for a few days", but it is unable to meet increased demand amid freezing weather, a company official told Russian Prime Minister Vladimir Putin on Saturday, Reuters reported. European countries had reported that Gazprom, which responsible for around a quarter of European Union’s natural gas imports, reduced supplies to them due to a biting cold front, while they also requested more fuel for heating.

Azerbaijan to get acquainted with the experience of attracting foreign investment in ICT

gunay — Mon, 06 Feb 2012 10:48:07 +0400

Azerbaijan will get acquainted with the experience of communication administration of the Regional Commonwealth of Communications (RCC) to attract foreign investment in the ICT sector for the further development of telecommunication networks, the introduction of new services and technologies, and with the principles of resolving these issues at the legislative level, Ministry of Communications and Information Technologies of Azerbaijan told Trend on Friday.

Oil price goes up again

gunay — Mon, 06 Feb 2012 10:46:27 +0400

Crude for March delivery went up $1.48 or 1.5% to $97.84 barrel on the New York Mercantile Exchange on February 3, Marketwatch reported. In London, Brent crude increased by $2.51 or 2.4% to $114.58 a barrel.

Azerbaijan to conduct indexing of insurance part of labour pensions

gunay — Wed, 01 Feb 2012 16:00:57 +0400

The State Social Protection Fund (SSPF) will soon conduct indexing of the insurance part of labour pensions in accordance with the consumer price index for 2011, head of the Fund Salim Muslimov said at a meeting with members of the Caspian Integration Business Club (CIBC). "We appealed to the State Statistics Committee and received data stating that the consumer price index in 2011 hit 7.9 per cent. This indicates that from Jan.1, 2012 the insurance part of labour pensions will grow by 7.9 per cent," Mr Muslimov said.

"India not to cut oil imports from Iran"

gunay — Mon, 30 Jan 2012 17:10:20 +0400

India has said it won't cut down its oil imports from Iran, apparently making it clear that it would not buckle to any pressure from the U.S. or western countries which have imposed sanctions on Tehran, Xinhua reported. "It is not possible for India to take any decision to reduce the imports from Iran drastically, because among the countries which can provide the requirement of the emerging economies, Iran is an important country amongst them," Indian Finance Minister Pranab Mukherjee said.

Law on customs tariff prepared in Azerbaijan

gunay — Mon, 30 Jan 2012 17:01:08 +0400

The State Customs Committee (SCC) of Azerbaijan has prepared a bill on the customs tariff and submitted it for endorsement to relevant departments, head of the SCC Aydin Aliyev said at a meeting dedicated to the 20th anniversary of the Azerbaijani Customs Committee. Currently customs tariffs in Azerbaijan are regulated on the basis of the law adopted in 1995. The customs tariff is a code of customs dues applied for goods transferred across the Azerbaijani customs border and classified in accordance with product nomenclature of foreign economic trading.