top of page
Online Payment
Kazakhstan can increase uranium production to 30,000 tons by 2015
23.06.2012 09:56
A A
Azerbaijan, Baku, June 20 / Trend E. Kosolapova/

Kazakhstan can increase uranium production to 30,000 tons in 2-3 years, Novosti-Kazakhstan quoted deputy head of the Kazakh National Atomic Company Kazatomprom Nurlan Ryspanov as saying.

"Our resources and existing capacities allow achieving production of 30,000 tons of uranium or more per year," Ryspanov said on Wednesday while speaking at the 5th annual Central Asia Mining and Metallurgical Congress in Almaty.

Kazakhstan produced 19,450 tons of uranium or 35 percent of world production in 2011. Kazatomprom is also the world''s leading uranium producer.

Ryspanov said that the increase in uranium production can be achieved by expanding the current capacity or intensifying the leaching process depending on the market conditions.

Kazatomprom has a stable demand for its production even after the accident at Japanese nuclear power plant Fukushima.

"Nuclear power-engineering has no real alternatives, so there is no risk of significant reduction in the world demand for natural uranium," he said.

Ryspanov added that Kazakhstan''s uranium production will hit 20,000 tons in 2012.

Kazatomprom is Kazakh national operator for import and export of uranium, rare metals, nuclear fuel for power plants, special equipment and dual-purpose materials. A total of 100 percent of the company''s stock is held by Kazakh Sovereign Wealth Fund Samruk-Kazyna.

Dear User, please take into the consideration the fact that all news are posted to our portal automatically by the system and no human factor is used to estimate the content of information, therefore if you consider this article non-ethical, offensive, illegal or incorrect, we kindly ask you to inform us about this issue.
Important news
Popular news
  • EU to broaden scope of anti-terrorism co-op with Iran
    09.02.2016 11:31
    Tehran, Iran, February 9By Mehdi Sepahvand - Trend:The EU is going to broaden the scope of its anti-terrorism cooperation with the Islamic Republic of Iran, said the EU Deputy Foreign Policy Chief Helga Schmid.Schmid made the remarks in a meeting with Iran's Deputy Foreign Minister for Asia and ...
  • Georgia to abolish visa regime with Iran
    09.02.2016 10:50
    Baku, Azerbaijan, Feb. 9Trend:Georgia will take concrete actions to abolish the visa regime with Iran, Georgian Prime Minister Giorgi Kvirikashvili told Iranian President Hassan Rouhani over phone, the Georgian governmental administration said."Kvirikashvili and Rouhani spoke about the close cultura...
  • Azerbaijani currency rate as of Feb. 9
    09.02.2016 09:30
    Baku, Azerbaijan, Feb. 9Trend:The official exchange rate of the US dollar and euro to Azerbaijani manat was set at 1.5787 manats and 1.7695 manats, respectively as of Feb. 9.Below is the exchange rate of Azerbaijani manat compared to the world currencies and precious metals on Feb. 9 according to th...
  • Seoul confirms North Korea successfully put satellite into orbit
    09.02.2016 07:35
    North Korea has successfully put into orbit the Kwangmyongsong-4 satellite, the South Korean Defense Ministry confirmed Tuesday.On Sunday, North Korea fired a long-range rocket to allegedly place a satellite into orbit, defying UN Security Council resolutions.According to the Yonhap news agency, the...
  • Canada to invest $1.1Bln to respond to crisis in Iraq, Syria
    09.02.2016 05:35
    Canada will spend more than $1.1 billion on humanitarian and development assistance to help bring stability to crisis-stricken Syria and Iraq, Canadian Foreign Affairs Minister Stephane Dion told reporters."Over the next three years, we [Canada] are committed to investing approximately 1.6 billion [...
  • Michael Bloomberg confirms eyeing 2016 presidential bid
    09.02.2016 03:02
    Former New York City Mayor Michael Bloomberg said he is looking at the possibility of running for the White House amid the current low quality presidential debate that offends US voters."I find the level of discourse and discussion distressingly banal and an outrage and an insult to the voters," Blo...
  • Turkish bus company plans production in US
    09.02.2016 01:41
    Turkish bus manufacturer Temsa, which has reached a share of around 10 percent in the U.S. market after its entrance in 2010, has made plans to build a production facility in Georgia with the aim of reaching over 1,000 units in the initial stage, Hurriyet Daily News reported.SabancД± Holding's...
  • Ukraine could lose revenue in 2016
    09.02.2016 00:02
    The government of Ukraine could face revenue shortage in 2016, if it fails to address reductions in social security contributions, the International Monetary Fund (IMF) said in a report on Monday, Sputnik reported."Social Security Contributions (SSC) in Ukraine need urgent attention," the report sta...
  • Turkey ninth most targeted by cyberattacks
    08.02.2016 22:11
    Turkey has ranked ninth on the list of countries most targeted by cyberattacks, according to a report by Turkish defense company STM, Hurriyet Daily News reported.Last year's cyberattacks on banks were also mentioned of the report, titled the "Cyber Security Threat Report," prepared by STM. Turk...
  • Iran nabs terrorists in border areas
    08.02.2016 22:10
    Iranian border guards have arrested 10 members of terrorist groups who were attempting to infiltrate into the country through eastern and western borders, Iran's police chief Brigadier General Hossein Ashtari says, Press TV reported."Outlaws and anti-revolution groups have been making movements ...
NEWS STORY
  • Drowned foreigners in Azerbaijan hunted without permission
    09.02.2016 13:22
    http://cdn.trend.az/pictures/2015/02/06/trend_ekologiy_ministry_main.jpg
    http://cdn.trend.az/pictures/2015/02/06/trend_ekologiy_ministry_main.jpg
    Baku, Azerbaijan, Feb. 9

    Trend:

    The foreigners recently drowned in the channel of the Imishli district of Azerbaijan had no permission to hunt, the Azerbaijani Ministry of Ecology and Natural Resources told Trend Feb. 9.

    A citizen of Saudi Arabia and a citizen of Qatar drowned in the channel located in the Khalifali village, the Imishli district at night February 8, 2016.

    Other citizen of Qatar was injured.

    Story still developing

    Follow us on Twitter @
    8
  • Fitch affirms ratings of three private Uzbek banks
    09.02.2016 12:41
    http://cdn.trend.az/pictures/2012/06/21/Fitch_Ratings_Album.jpg
    http://cdn.trend.az/pictures/2012/06/21/Fitch_Ratings_Album.jpg
    Tashkent, Uzbekistan, Feb. 9

    By Demir Azizov- Trend:

    Fitch Ratings has affirmed PJSB Trustbank's (TB) and Ipak Yuli's Bank (IY) Long-term foreign currency Issuer Default Ratings (IDR) at 'B-' with Stable Outlooks, and assigned Universalbank (UB) a 'CCC' Long-term foreign currency IDR, Fitch said Feb. 9.

    Ipak Yuli Bank

    Long-term foreign and local currency IDRs: affirmed at 'B-', Outlook 'Stable'

    Short-term foreign and local currency IDRs: affirmed at 'B'

    Viability Rating: affirmed at 'b-'

    Support Rating: affirmed at '5'

    Support Rating Floor: affirmed at 'NF'

    Trustbank

    Long-term foreign and local currency IDRs: affirmed at 'B-', Outlook 'Stable'

    Short-term foreign and local currency IDRs: affirmed at 'B'

    Viability Rating: affirmed at 'b-'

    Support Rating: affirmed at '5'

    Support Rating Floor: affirmed at 'NF'

    Universalbank

    Long-term foreign currency IDR: assigned 'CCC'

    Long-term local currency IDR: affirmed at 'CCC'

    Short-term foreign currency IDR: assigned 'C'

    Short-term local currency IDR: affirmed at 'C'

    Viability Rating: affirmed at 'ccc'

    Support Rating: affirmed at '5'

    Support Rating Floor: affirmed at 'NF'

    The VRs consider the challenging operating environment, including difficult business climate, structural weaknesses in the economy, high concentration risk and external pressures.

    "The ratings are also constrained by the high transfer and convertibility risks in the economy due to the country's tightly regulated FX market and the banks' modest franchises in the state-dominant banking sector," Fitch said.

    Universalbank's rating was also constrained by past regulatory issues resulting in the withdrawal of its license on foreign currency operations in 2012. However, in June 2015, the Central Bank of Uzbekistan (CBU) returned the bank's license and its foreign currency operations were restored. Following this, Fitch has assigned UB a 'CCC' Long-term foreign currency IDR.

    The Stable Outlook on TB and IY reflects Fitch's expectations of further economic growth and government-led investments into major manufacturing sectors, which will support the banks' lending growth and profitability.

    Reported problem exposures remain moderate, with impaired loans at below 4% of gross loans at all three banks at end-3Q15 (local GAAP). Concentration risks remain high, particularly at TB and UB, with the 25 largest borrowers accounting for 63% and 72% of loans, respectively, at end-3Q15. IY has a more granular loan book, with the top 25 largest exposures below 25% of total loans.

    The capitalisation of all three banks remained stable with Fitch Core Capital ratios at a reasonable 17% at TB, 23% at UB and lower 11% at IY at end-2015. These capital cushions provided TB and UB comfortable additional loss absorption capacity of 9% and 20% of gross loans, respectively.

    A new UZS10bn capital injection expected in 1H16 should stabilise its capitalisation at about 12%.

    Core funding is from customer deposits (60% of total liabilities at IY, 87% at TB and 95% at UB), which are short term but relatively stable at all three banks.

    The banks' Support Rating Floors of 'No Floor' and their '5' Support Ratings reflect their limited systemic importance and that rendering of extraordinary support from Uzbek authorities is unlikely. The ability of the banks' shareholders to provide support cannot be reliably assessed.

    An upgrade of TB and IY would depend on the overall notable improvement in the operating environment. UB's ratings may be upgraded if the bank is able to significantly improve its franchise along with asset quality and tightening of risk policies.

    Trustbank, with its main focus on rendering financial services to the companies on the stock exchange and wholesale trade, was established in 1994. It was transformed into a private bank upon the shareholders' decision in 2006.

    "Universalbank" was created in 2001. The shareholders of the bank are private companies and physical entities.

    "Ipak Yuli" bank was created in 1990. The bank`s shares are owned by about 1000 shareholders - legal and physical entities, the largest of which are the "UzbekInvest" National Export-Import Insurance company (about 18 percent) and the Asian Development Bank (13.56 percent).

    Uzbekistan currently has 26 commercial banks. Three of them are state-run banks, five banks with foreign capital, 11 - joint-stock banks and seven private banks.

    As of Feb. 9, the official exchange rate is 2841.60 soums/$1.

    Follow us on Twitter @
    13
  • Several dead, about 100 injured in German train collision
    09.02.2016 12:41
    http://cdn.trend.az/pictures/2013/09/30/train_crash_30.09.jpg
    http://cdn.trend.az/pictures/2013/09/30/train_crash_30.09.jpg
    Several people died after two trains collided in the southern German state of Bavaria on Tuesday, a police spokesman said, adding about 100 people were also injured, Reuters reported.

    "Two trains crashed head on," said a police spokesman.

    "There are about 100 injured, scores of people seriously injured and several dead," he said. The accident happened at 6.48 a.m. local time (12.48 a.m. ET) near Bad Aibling in the southeastern corner of Germany.

    Follow us on Twitter @
    4
  • Iran, Georgia must boost all-out ties, Rouhani says
    09.02.2016 12:15
    http://www.today.az/pictures/pic147666.jpg
    http://www.today.az/pictures/pic147666.jpg
    Iranв's President Hassan Rouhani says Tehran and Tbilisi should improve relations in all fields to serve the two nationsв' interests,В Press TVВ reported.

    ''Economic and cultural cooperation between Iran and Georgia should be further strengthened in line with the two nationsв' interests,'' Rouhani said in a telephone conversation with Georgian Prime Minister Giorgi Kvirikashvili on Monday.

    He added that Tehran and Tbilisi enjoy great potential to enhance economic cooperation and noted that the cancellation of visa requirements between the two sides can help improve ties.

    Rouhani said Georgia can be the corridor for trade exchanges between Iran and the Black Sea countries, adding geographical position and great common facilities have prepared the appropriate ground for multilateral cooperation.

    The Iranian president further added that the nuclear agreement, dubbed the Joint Comprehensive Plan of Action (JCPOA), reached between Iran and the P5 1 group of countries last July constituted an ''international victory for diplomacy.''

    Iran and the five permanent members of the UN Security Council '" the United States, France, Britain, China and Russia '" plus Germany started to implement the JCPOA on January 16.

    After the JCPOA went into effect, all nuclear-related sanctions imposed on Iran by the European Union, the UN Security Council and the US were lifted. Iran has, in return, put some limitations on its nuclear activities.

    The nuclear agreement was signed on July 14, 2015, following two and a half years of intensive talks.

    The Georgian premier said the JCPOA implementation would serve the interests of Iran and benefit the entire region, including Georgia, and the world.

    Kvirikashvili expressed Georgiaв's readiness to bolster economic cooperation and open a new chapter in bilateral relations.

    The Georgian premier said he would pay a visit to Tehran in the near future and also invited the Iranian president to travel to Tbilisi.

    /By
    8
  • AtaBank biggest acquirer of Visa payWave in Azerbaijan
    09.02.2016 12:03
    http://cdn.trend.az/pictures/2016/02/09/atabank_090216_02.jpg
    http://cdn.trend.az/pictures/2016/02/09/atabank_090216_02.jpg
    Baku, Azerbaijan, Feb. 9

    Trend:

    AtaBank OJSC was awarded with a special diploma.

    A conference Contactless payments on trading network organized by Visa International was held in Holiday Inn hotel Baku on February 2, 2016.

    As of 2015, "AtaBank" OJSC won the nomination "The biggest acquirer of Visa payWave in Azerbaijan" and was awarded with a special diploma.

    Official representatives of Visa International highly appreciated activities of the AtaBank OJSC and wished great success in the future.

    Visa International operates globally. Today Visa payment cards are being used in more than 200 countries.

    AtaBank OJSC expresses deep gratuite to its customers for achievements and success.

    It should be noted that AtaBank OJSC is the member of VISA International Service Association from 2004. AtaBank OJSC successfully functioning since 1993, is one of the largest commercial banks of Azerbaijan. Today AtaBank OJSC is as a hi-tech universal bank rending full complex of services to corporate and retail customers.

    For the detailed information about products and services of AtaBank OJSC please visit official web site of the bank www.atabank.com or official facebook page www.facebook.com/atabank .

    Follow us on Twitter @
    6
  • Youngest Azerbaijani scientist leads BHOS Research Centre
    09.02.2016 12:02
    http://cdn.trend.az/pictures/2016/02/09/senan_eminov_090216.jpg
    http://cdn.trend.az/pictures/2016/02/09/senan_eminov_090216.jpg
    Baku, Azerbaijan, Feb. 9

    Trend:

    In order to ensure education of specialists on contemporary specializations and research making on current topics at BHOS Senan Eminov, the graduate of London Imperial College, has been appointed as the head of BHOS Training and Research Center on Renewable Energy. Most recently he successfully finished his doctorate education at London Imperial College having defended PhD thesis on renewable energy and environment protection. Senan was born in 1987 in Barda, Azerbaijan.

    After graduating the secondary school he continued his education at the Private Turkish Lyceum in Mingachevir. His interest in chemistry served as further encouragement in going deeply into this science and motivated him to achieve success at various international scientific school Olympics. He won three gold medals at the National Chemistry Olympics. In 2003 Senan won a bronze medal at the 35th World Chemistry Olympics held in Greece, in 2004 he became a gold medal winner at 36th International Chemistry Olympics held in Germany and in 2005 he became again the first at the 37th International Chemistry Olympics held in Taiwan thus worthily representing our country.

    For the first time in the history of international chemistry contests, having gathered the highest 228 points out of compulsory 229 points on theoretical part during the exam held in the frames of the International Chemistry Olympics in Taiwan our fellow countryman won the first place being granted a special award. After successful contest performances Senan was admitted to Middle East Technical University, Turkey, and after finishing the first year continued his education at University of Bremen, Germany. During his studies in Germany Senan's first scientific work was on Extraction of gallotanins from green tea. In 2010-2011, he hid his Master's degree education at Imperial College London with the support of the SOCAR's Scholarship Programme.

    After, supported by the State Scholarship Programme for Education of Azerbaijani Youth Abroad (2007-2015) adopted based on the Decree issued by Ilham Aliyev, President of the Republic of Azerbaijan, he was admitted to the PhD at Imperial College London where he worked at Energy Future's Lab and Organic Chemistry and Ecology Lab engaged in research on renewable energy lead by prof. Tom Welton and studied there until 2015. The scope of his scientific and research work concerns fragmenting biomasses by the use of ion liquids and transformation of platform being the source of the alternative energy into chemical substances.

    This scientific research encompasses extraction and the application of next generation bio energy. Transformation of bio masses into bio fuel is considered to be the ideal way of replacing oil being non-renewable energy and suffering gradual depletion. Senan's scientific articles on sustainable chemistry and engineering were presented to ACS American Chemical Society, the world leading journal. One of his scientific articles was published in 2014 and was selected as the best one by the editors (Editor's Choice Article). This very article was published on the cover of the said journal. Senan Eminov participated at the international scientific conferences and symposiums as the primary speaker. In addition his articles and thesis can be found in the collection of scientific articles related to these events.

    Working as the senior lecturer at BHOS chemical engineering department following the appointment by BHOS rector Elmar Gasimov, Senan Eminov has been appointed as the head of BHOS Training and Research Center on Renewable Energy.

    Follow us on Twitter @
    5
  • Russia does not abandon Turkish Stream
    09.02.2016 12:02
    http://cdn.trend.az/pictures/2015/03/05/trubi_050315.jpg
    http://cdn.trend.az/pictures/2015/03/05/trubi_050315.jpg
    Baku, Azerbaijan, Feb. 9

    Trend:

    Russia does not abandon the Turkish Stream gas pipeline project, Russian ambassador to Turkey Andrey Karlov told RIA Novosti.

    Karlov said that it is difficult to predict further situation with the project amid the crisis in the Russia-Turkey relations.

    Relations between Russia and Turkey deteriorated after Turkish Air Force jets shot down the Russian Su-24 bomber when it entered Turkish airspace Nov. 24.

    After the incident the Russian president signed a decree on measures to ensure national security and on special economic measures in regard to Turkey.

    "Russia does not abandon the Turkish Stream project, but now it is time for Turkey to act," he said. "Following December 1, 2014, when a memorandum was signed on this project, we rapidly fulfilled our work, but faced with the unwillingness of the Turkish partners to take return actions."

    "The Turkish side failed to start negotiations on the intergovernmental agreement in 2015 due to the tense political situation, two parliamentary elections in Turkey," he said. "It is very difficult to predict the further situation with the project in current conditions. So, first we are waiting for the Turkish side to come to its senses and do everything it must do for the normalization of bilateral relations."

    He recalled the position of Russia. According to this position, the Turkish side's official apology for the incident with the Su-24 warplane, the punishment of those responsible and compensation for the damage caused to Russia are the conditions for the normalization of relations with Turkey.

    Follow us on Twitter @
    5
  • Azerbaijan greatly increases IMF quota
    09.02.2016 12:01
    http://cdn.trend.az/pictures/2016/02/09/imf_building_090216.jpg
    http://cdn.trend.az/pictures/2016/02/09/imf_building_090216.jpg
    Baku, Azerbaijan, Feb. 9

    By Azad Hasanli - Trend:

    Azerbaijan has increased quota in the International Monetary Fund (IMF) from 160.9 million SDR ($224.34 million) to 391.7 million SDR ($546.14 million), a statement posted on the IMF's website says.

    The quota was increased as part of the 14th General Review of Quotas.

    Some 44 percent (173.1 million SDR or 377.7 million manat) of Azerbaijan's quota may be placed in the national currency.

    According to the IMF report, Azerbaijan has already agreed an increase in quota, but it has not yet set the date of its share payment.

    As a result of increasing the quota of each of 188 IMF member-states, total contributions increased from 238.5 billion SDR ($ 329 billion) to 477 billion SDR ($659 billion).

    The IMF largest member-state is the US with a quota of 82.9 billion SDR. The IMF smallest member-state is Tuvalu with a quota of 2.5 million SDR.

    Quotas are denominated in Special Drawing Rights (SDR) - the IMF's unit of account.

    The quota contributions are an important source of the IMF financial resources. A quota is assigned for each IMF member-state. It is broadly based on its relative position in the world economy. The quota of the member-state determines a maximum amount of its financial commitments to the IMF and its number of votes and also affects the country's access to the IMF financing.

    When a country is joining the IMF, an initial quota is set in the same amount as the quotas of existing member-states. They are broadly comparable with it on the scale and characteristics of the economy.

    Follow us on Twitter @
    4
  • State action to come out for unemployment cut
    09.02.2016 11:35
    http://www.today.az/pictures/pic147656.jpg
    http://www.today.az/pictures/pic147656.jpg
    /By Azernews/

    By Gulgiz Dadashova

    While low oil prices are hitting the global economy, slowing growth rates increase unemployment numbers worldwide, especially in energy producing countries.

    Employment remains a key factor through which the economies seek to enable people to meet their needs and achieve their socio-economic goals.

    Low unemployment ratio well mirrors economic growth of the nation, striving policymakers to use better tools to improve the market.

    Currently, the unemployment ratio is equal to 5 percent in Azerbaijan. Despite this small figure, the government takes measures to prevent growth in unemployment and improves the employment services system.

    Oil and gas exporter Azerbaijan have introduced reforms and measures to improve economic activity to bring unemployment back down and open new jobs.

    Priorities for Azerbaijan include supporting economic growth and improving the non-oil sector of the economy, ensuring that private sector creates new jobs, but not only the government.

    Greeting the role that the private sector plays in driving the economic growth and creating jobs, the Azerbaijani government has centered its new economic model on improving opportunities for businesses, including by strengthening their ability to compete internationally.

    The government is also working to cut tax and eliminate burdens on businesses. As companies create jobs, the state seeks to simplify their access to simplified loans and boost entrepreneurship, particularly in agro '"sector.

    A new 10-year concept of employment is being developed by the Labor and social protection Ministry together with the due state bodies, Azerbaijan Confederation of Trade Unions, National Confederation of Entrepreneurs (Employers) Organizations and the nongovernmental organizations, as well as the World Bank, the UN Population Fund and the International Labor Organization.

    Salim Muslimov, Minister for Labor and Social Protection of Population, said on February 8 the concept covering 2016-2025 will be developed in three months and focus on the development of macroeconomic policies, entrepreneurship, assessment of the demographic burden on the labor market and employment policy.

    The concept, he said, will also create competitive human resources, improve the information provision for the development of the labor market and strengthen social protection of the unemployed and job seekers.

    The countryв's previous employment policy allowed opening more than 1.5 million new jobs and reducing the unemployment rate from 7.4 percent in 2004 to 4.9 percent in 2015.

    The strategy will include proposals how the Azerbaijani government can take advantage of future opportunities and the potential of demographic change in order to secure long-term growth and prosperity.

    The minister noted that in terms of demography, Azerbaijan is one of the few countries in Europe and CIS countries with fast-growing populations.

    ''In 2005-2015, the population increased by 13.6 percent. Currently, citizens aged less than 14 years account for 22.4 percent of the population in Azerbaijan, aged over 15 make up 64 percent - 71.6 percent, while those who are aged above over 65 years constitute six percent. Meanwhile, 28.1 percent of the population is young people aged 15-29 years," he said.

    Muslimov believes the country needs to implement a dual training system.

    ''The International Labor Organization reports that the psychology of employers has changed, as they no longer want to participate in training, and strive to immediately get ready specialists. This can be observed not only in Azerbaijan, but also all over the world. Due to this, the labor market does not meet its requirements.

    In many European countries dual training is now widely used, where different companies hire young people aged 15-16 years. They work for 20-30 percent of the salary, but at the same time continue to learn. As a result, they receive the necessary experience and are in demand in the labor market when aged 18,'' he said.

    The minister said for the introduction of a similar system in Azerbaijan, the private sector needs to share interest.

    "It is necessary to expand the range of training courses, training and retraining,'' he said. ''We are working in this direction, for example, soon another similar center will open in Ganja. We want such centers to operate in all regions of the country in the future.''

    Training is also fundamental in long-term strategy to offer real opportunities to the unemployed and tackle skills mismatch. In 2015, the State Employment Service organized vocational counseling courses, which covered 100,000 high school students.
    10
  • Armenians violated ceasefire with Azerbaijan 119 times throughout the day
    09.02.2016 11:35
    http://www.today.az/pictures/pic147659.jpg
    http://www.today.az/pictures/pic147659.jpg
    The situation on the contact line between Azerbaijan and Armenia has remained tense as the Armenian Armed Forces shattered ceasefire a total of 119 times throughout the day, Azerbaijan`s Defense Ministry said.

    Armenian armed forces, located in Armenia's Berkaber villages of Ijevan region, Mosesgekh village of Berd region and nameless hills of Krasnoselsk region subjected to fire the positions of Azerbaijani armed forces located in Gizilhajili village of Gazakh region, Agdam village of Tovuz region and nameless hills of Gadabay region.

    The ceasefire was violated in Talish, Gulustan villages in Goranboy region, Chilaburt, Yarimja villages in Tartar region, Shikhlar, Novruzlu, Javahirli, Kangarli, Sarijali, Shuraabad, Marzali, Garagashli, Yusifjanli villages in Aghdam region, Kuropatkino village in Khojavand region, Horadiz, Garakhanbayli, Gorgan, Ashagi Seyidahmadli villages in Fuzuli region, Mehdili village of Jabrayil region, as well as nameless hills in Goygol, Goranboy, Khojavand, Fuzuli and Jabrayil regions.

    In view of the operational situation, Azerbaijani armed forces carried out 120 strikes on enemy positions.

    /By Azertac/
    5
  • Azerbaijani chess player wins bronze in Ferdowsi Open Tournament
    09.02.2016 11:34
    http://www.today.az/pictures/pic147657.jpg
    http://www.today.az/pictures/pic147657.jpg
    Azerbaijani chess player Gadir Huseynov has claimed a bronze medal at the 6th Ferdowsi Open Tournament 2016 in Iran.

    The event was organized by the Khorasan Chess Association in a 9-round Swiss format with time control 90? 30?.

    A total of 178 players from 18 different federation took part in the tournament, including 7 GMs and 2 IMs.

    Russian players GM Pavel Maletin and IM Maksim Chigaev shared the first place at 7.5/9 points but Maletin clinched the title on a superior tie-break score.

    /By Azertac/
    5
  • President allocates AZN 700,000 for construction of Tekle-Sundu-Khilmilli highway
    09.02.2016 11:33
    http://www.today.az/pictures/pic147660.jpg
    http://www.today.az/pictures/pic147660.jpg
    President of Azerbaijan Ilham Aliyev has today signed an executive order allocating funds for the completion of the construction of Tekle-Sundu-Khilmilli highway in Qobustan.

    Under the presidential order, AZN 700,000 will be allocated to Azeryolservis from 2016 State Budget for the completion of the construction of the highway, which links six residential areas with the total population of 15,000 people.

    /By Azertac/
    5
  • Germany and Turkey come up with a 10-point action plan
    09.02.2016 11:33
    http://www.today.az/pictures/pic147662.jpg
    http://www.today.az/pictures/pic147662.jpg
    Angela Merkel and Turkish Prime Minister Ahmet Davutoglu say they have put together an action plan to deal with the migrant crisis, according to Euronews.

    Germanyв's Chancellor is in Turkey for talks on managing the ongoing refugee crisis.

    Last weekв's offensive in Aleppo, Syriaв's second city, has given fresh impetus to calls for solutions to the crisis to be found.

    The plan '" made up of ten related topics, will be implemented in the coming days and weeks.

    It includes UN-level negotiations with Russia about its military action in Syria, the deployment of humanitarian aid from Germany to the Syrian border and a boost in support for the EU border agency Frontex.

    Merkel and Davotoglu also stressed the need to bring an end to human trafficking, to establish a legal framework for migration and to set up a system to fairly distribute arriving refugees among EU member states.

    /By Azertac/
    5
  • EU to broaden scope of anti-terrorism co-op with Iran
    09.02.2016 11:31
    http://cdn.trend.az/pictures/2014/09/09/helga_schmidt_090914_2.jpg
    http://cdn.trend.az/pictures/2014/09/09/helga_schmidt_090914_2.jpg
    Tehran, Iran, February 9

    By Mehdi Sepahvand - Trend:

    The EU is going to broaden the scope of its anti-terrorism cooperation with the Islamic Republic of Iran, said the EU Deputy Foreign Policy Chief Helga Schmid.

    Schmid made the remarks in a meeting with Iran's Deputy Foreign Minister for Asia and the Pacific Ebrahim Rahimpour in Tehran, IRIB news agency reported February 8.

    Stressing Iran's important role in dealing with regional crises, Schmid said the cooperation will increase in the post-JCPOA era.

    The JCPOA, official name for Iran's nuclear deal, which has taken Iran away from harsh Western sanctions has also opened a way for hope of a more politically and diplomatically cooperative Iran.

    Schmid also said it is necessary to take measures to improve the situation in Afghanistan, inviting Iran to positively consider discussing the Afghani issue at the upcoming Brussels meeting.

    Iran's Foreign Minister Mohammad Javad Zarif will attend the meeting which is to be held in one week.

    Ebrahim Rahimpour, for his part, said Iran is ready to offer its capabilities to fight the growing threat of terrorism and extremism in the Middle East region.

    Iran is surrounded by countries grappling with internal as well as foreign-incited conflicts. The Syrian crisis has been going on for over five years, whereas Iraq has been dealing with the threat of the IS terrorist group (ISIL, ISIS, Daesh) since mid-2014. Situation in Afghanistan is no better with extremist groups waging unrest.

    Stay up to date with latest Iran news on our specialized Facebook page

    Follow us on Twitter @
    6
  • Kazakhstan exploring foreign companiesв' participation in Eurasia project
    09.02.2016 10:52
    http://cdn.trend.az/pictures/2015/02/11/trend_astana_symbol_161111_2.jpg
    http://cdn.trend.az/pictures/2015/02/11/trend_astana_symbol_161111_2.jpg
    Baku, Azerbaijan, Feb. 5

    By Elena Kosolapova - Trend:

    Kazakhstan currently holds meetings and consultations with such leading global oil, gas and service companies, as the US Chevron, the French Total, Russia's Lukoil and Rosneft, China's CNPC, India's ONGC and others regarding the terms of their possible involvement in the Eurasia project, the Kazakh energy ministry told Trend.

    Eurasia project involves the exploration of deep laying horizons of the Caspian Basin, both on land and at sea, located on the territory of Kazakhstan and Russia.

    "The final list of participants of the Eurasia project hasn't yet been defined," the ministry said.

    The Kazakh energy ministry said that it is planned to organize a round table, during which representatives of the interested companies will familiarize themselves with a list of benefits and preferences provided for the project's participants.

    The program, volume and timing regarding the project will be determined after the establishment of the consortium or strategic partnership of the developers, according to the ministry.

    "It is suggested to implement funding for all phases of the project at the expense of funds of potential participants of the consortium or strategic partners," the ministry said.

    According to experts, the resource potential of the Caspian region, especially the Caspian Basin, is up to 40 billion tons of oil. Nearly 20 large deposits of hydrocarbons are predicted to exist here. In case of implementation of the Eurasia project, Kazakh hydrocarbon reserves may be doubled.

    It was earlier reported that the implementation of the Eurasia project will consist of three phases. The first phase envisages the collection and processing of materials from previous years.

    The second phase includes large-scale research. The last phase includes the drilling of a new support-parametric well called Caspian 1, at the depth of nearly 14-15 kilometers. The estimated cost of the three phases of the Eurasia project is about $500 million.

    It is proposed to implement the project through the international consortium consisting of large oil companies. The project management will be carried out in Kazakhstan.

    Follow us on Twitter @
    13
  • Georgia to abolish visa regime with Iran
    09.02.2016 10:50
    http://cdn.trend.az/pictures/2014/02/06/visa_060214.jpg
    http://cdn.trend.az/pictures/2014/02/06/visa_060214.jpg
    Baku, Azerbaijan, Feb. 9

    Trend:

    Georgia will take concrete actions to abolish the visa regime with Iran, Georgian Prime Minister Giorgi Kvirikashvili told Iranian President Hassan Rouhani over phone, the Georgian governmental administration said.

    "Kvirikashvili and Rouhani spoke about the close cultural relations between the Georgian and Iranian peoples," the statement said. "The sides expressed hope to intensify cooperation in the field of tourism. In this regard, the Georgian side will take concrete actions.

    Follow us on Twitter @
    10
  • Office of Iran's ex-president denies "election forecast" rumors
    09.02.2016 10:41
    http://cdn.trend.az/pictures/2012/11/08/Iran_elections_040512_012.jpg
    http://cdn.trend.az/pictures/2012/11/08/Iran_elections_040512_012.jpg
    Baku, Azerbaijan, Feb. 9

    By Khalid Kazimov - Trend:

    The office of the former Iranian President Mahmoud Ahmadinejad has dismissed reports regarding his remarks about the outcome of the upcoming parliamentary election to be held on February 26.

    "The reports quoting former President Mahmoud Ahmadinejad are sheer lie and the former president has not made any remarks regarding the election," ISNA news agency quoted an official at former president's office.

    Earlier on February 7, Payesh news website reported that Ahmadinejad has predicted "a heavy defeat" to the conservatives at the upcoming parliamentary election in Iran.

    "A group of people describing themselves as conservatives have created a circle expecting the nation to cast votes in their favor, while only seven or eight candidates out of the list comprising of 30 nominees will be elected as parliamentarians," Payesh news website quoted Ahmadinejad as saying at the recent meeting with his supporters.

    Questioning the legitimacy of candidates proposed by the conservatives, Ahmadinejad allegedly added that the list prepared by conservatives to introduce candidates for the parliamentary election lacks charismatic figures, Payesh claimed.

    "They get together and prepare a list believing that voters will cast ballots in their favor," Payesh quoted him as mocking the conservatives.

    Payesh further reported that Ahmadinejad had accused the conservatives of lacking a proper plan and slogan to compete in the election.

    Over the past weeks Iranian officials have made striking remarks regarding the upcoming parliamentary election.

    While Iran's Supreme Leader Ayatollah Ali Khamenei has urged people to prevent anti-revolutionary and pro-US figures from assuming seats in the parliament, President Hassan Rouhani has criticized the country's vetting body, the Guardian Council, for disqualifying a large number of reformist candidates.

    Over the past few months and ahead of the election, Ali Khamenei has constantly warned against the "infiltration" of the country's enemies as well as the US in Iran.

    Stay up to date with latest Iran news on our specialized Facebook page

    Follow us on Twitter @
    11
  • Iran's currency market is a good-looking car with weak engine
    09.02.2016 10:41
    http://cdn.trend.az/pictures/2016/02/09/iran_money_exchange_090216.jpg
    http://cdn.trend.az/pictures/2016/02/09/iran_money_exchange_090216.jpg
    Tehran, Iran, Feb. 8

    By Mehdi Sepahvand, Farhad Daneshvar - Trend:

    While a couple of areas of Iran's economy such as the Tehran Stock Exchange (TSE) have positively reacted to the implementation of the Joint Comprehensive Plan of Action (JCPOA/nuclear deal), the country's traditional currency market still remains indifferent to the landmark political development, a recent survey carried out by Trend in Tehran, Iran's capital city, suggests.

    A group of dealers operating official currency exchange outlets around Ferdowsi Square, the center of Tehran's currency exchange trade, have suggested that the currency market still suffers from fluctuation and they have not felt the imminent impact of the removal of sanctions on their business.

    "Market is volatile, but our business is pretty much the same," a young currency trader replied to Trend's question whether the removal of sanctions has had an impact on their business.

    Following the removal of economic sanctions against the Islamic Republic on Jan. 16, several observers have suggested that the possible flow of funds from foreign countries to Iran may help to stabilize the fluctuating market.

    However a middle-aged man introducing himself as a currency market expert opposed the idea suggesting "the foreign companies' business in Iran will not have a significant impact on the currency market as their money will not be directed to the market. Their money will be transferred to bank accounts in Dubai."

    Responding to a question on attempts made by the Central bank of Iran to control foreign currency rates in the country a trader said "the Central Bank could not feed the market with enough foreign currency, that's why they went back up after a short period of lowering."

    However, another man who seemed to be in the business for a long time argued that fixing the currency rates would help to stabilize the market.

    "The government is everything, the market will move according to governmental decisions," he added.

    Meanwhile a group of traders refused to forecast the future of the currency market in the wake of the sanctions removal saying sentences such as "right now the market is a little low", "I cannot say what effect that will have on our business", "we should wait and see" and "nowadays, people come for small amounts of money to exchange".

    The licensed shops are not the only currency traders in Iran as dozens of black market traders sinking their heads deep in their black jackets to endure the cold clutch small calculators and large stacks of cash just outside the authorized exchange outlets in Iran's currency hub Ferdowsi Sq. approach people whom their sixth sense has identified as customers and quietly let them know they exchange currencies for a little more profitable rate.

    On the black market, one US dollar buys a bit more than 35,584 rials in licensed shops, while the official rate remains at 30,180.

    While the removal of international sanctions against Iran offers a new outlook for a large emerging untapped market, the risk of exchange rate fluctuations remains as a major barrier for drawing the attention of international investors.

    Over the past few months several Iranian financial analysts have shouted the need for establishing an official currency market within the framework of the Iranian Capital Market as the foreign investors would require the provision of hedging currency risks.

    Iranian President Hassan Rouhani's government has been developing plans for luring $30 billion of foreign investment in the post-sanctions era to renew the country's aging industry and ailing economy.

    Over the past decade in a bid to curb Iran's nuclear program, the international community took measures against Tehran, including restrictions imposed on the country's financial system, as well as industry, which have had a catastrophic impact on Iranians' economic situation and life conditions.

    Stay up to date with latest Iran news on our specialized Facebook page

    Follow us on Twitter @
    5
  • Azerbaijani currency rate as of Feb. 9
    09.02.2016 09:30
    http://cdn.trend.az/pictures/2015/04/09/dollar_euro_090415.jpg
    http://cdn.trend.az/pictures/2015/04/09/dollar_euro_090415.jpg
    Baku, Azerbaijan, Feb. 9

    Trend:

    The official exchange rate of the US dollar and euro to Azerbaijani manat was set at 1.5787 manats and 1.7695 manats, respectively as of Feb. 9.

    Below is the exchange rate of Azerbaijani manat compared to the world currencies and precious metals on Feb. 9 according to the Central Bank of Azerbaijan.




    Currencies and precious metals





    Feb. 9, 2016



    1 US dollar



    1 USD



    1.5787



    1 euro



    1 EUR



    1.7695

    Story still developing

    Follow us on Twitter @
    24
  • Seoul confirms North Korea successfully put satellite into orbit
    09.02.2016 07:35
    http://cdn.trend.az/pictures/2010/08/11/South_North_Korea.jpg
    http://cdn.trend.az/pictures/2010/08/11/South_North_Korea.jpg
    North Korea has successfully put into orbit the Kwangmyongsong-4 satellite, the South Korean Defense Ministry confirmed Tuesday.

    On Sunday, North Korea fired a long-range rocket to allegedly place a satellite into orbit, defying UN Security Council resolutions.

    According to the Yonhap news agency, there has been no signal received from the satellite so far.

    South Korean Defense Ministry also said that Pyongyang has not yet mastered the technology of returning intercontinental ballistic missiles (ICBM) into the atmosphere.

    On Sunday, North Korea fired a long-range rocket to allegedly place a satellite into orbit, defying UN Security Council resolutions.

    "North Korea has not yet mastered the technology of returning ICBMs into the atmosphere," the ministry said, as quoted by the Yonhap news agency.

    According to the ministry, the North Korean missile can cover the distance of 12,000 kilometers (7.500 miles).

    Follow us on Twitter @
    32
  • Canada to invest $1.1Bln to respond to crisis in Iraq, Syria
    09.02.2016 05:35
    http://cdn.trend.az/pictures/2013/08/16/canada_flag_160813.jpg
    http://cdn.trend.az/pictures/2013/08/16/canada_flag_160813.jpg
    Canada will spend more than $1.1 billion on humanitarian and development assistance to help bring stability to crisis-stricken Syria and Iraq, Canadian Foreign Affairs Minister Stephane Dion told reporters.

    "Over the next three years, we [Canada] are committed to investing approximately 1.6 billion [Canadian] dollars to respond to the crisis in Iraq and Syria and to address the impact on Jordan, Lebanon and the wider region," Dion stated on Monday.

    Dion explained that the plan will comprise of urgent humanitarian aid, long-term development and support for local governance designed to achieve stability in the region.

    On Monday, Canada's Defense Minister Harjit Sajjan said Ottawa would finish conducting airstrikes against the Islamic State, which is also known as Daesh, within the next two weeks.

    Canadian Prime Minister Justin Trudeau told reporters that Ottawa would continue supporting the US-led coalition against Daesh with aircraft for refuelling and surveillance purposes.

    Canada is a member of the coalition that has been launching airstrikes against Daesh in Syria and Iraq since 2014.

    Follow us on Twitter @
    36
  • 600,000 refugees may arrive at Turkish border: Deputy PM
    09.02.2016 04:21
    http://cdn.trend.az/pictures/2016/01/04/numan_kurtulmush_040115.jpg
    http://cdn.trend.az/pictures/2016/01/04/numan_kurtulmush_040115.jpg
    Turkish Deputy Prime Minister Numan Kurtulmus said Monday there was a possibility that 600,000 refugees would soon arrive at the Turkish border, Anadolu Agency reported.

    Kurtulmus's remarks came during a press conference following a cabinet meeting.

    "It is estimated that a wave of 600,000 refugees may come to the Turkish border soon in a worst case scenario," he said. "Our first goal is to host these refugees outside of Turkey."

    The deputy prime minister said that Turkey was always on alert and cautious regarding the possibility of attacks that target its sovereignty and had carried out all required preparations.

    "Every single development in Syria concerns Turkey," he added. "We have a border of 911 km. Some people that come from 10,000 km, 4,000 km or 6,000 km away have a close interest in Syria. Moreover, they actively take part in the conflict in Syria. Furthermore, they participate, through proxies, to the crumbling of Syria."

    An attack by Russia and the Syrian regime in northwestern Syria has seen supply routes from Turkey to rebel-controlled areas cut, leaving towns and villages without vital aid.

    Earlier Monday, the Turkish Prime Minister Ahmet Davutoglu said Germany and Turkey had taken in most refugees from the Syrian crisis, with Turkey now hosting more than 2.5 million Syrians. Germany took in 1.1 million refugees last year, the most of any EU nation.

    Last week, the EU approved a 3 billion euro ($3.33 billion) aid package for Turkey to help care for the world's largest refugee population.

    Follow us on Twitter @
    28
  • Saudi Arabia says open to sending special forces into Syria
    09.02.2016 03:03
    http://cdn.trend.az/pictures/2012/06/15/Saudi_Arabia_flag_1.jpg
    http://cdn.trend.az/pictures/2012/06/15/Saudi_Arabia_flag_1.jpg
    Saudi Foreign Minister Adel al-Jubeir on Monday held out the possibility of sending Saudi special forces into Syria as part of a U.S.-led coalition against the Islamic State, Reuters reported.

    "There is a discussion with regard to a ground force contingent, or a special forces contingent, to operate in Syria by this international U.S.-led coalition against ISIS and the Kingdom of Saudi Arabia has expressed its readiness to provide special forces to such operations should they occur," he said.

    Al-Jubeir spoke to reporters after he met for the second day in a row with U.S. Secretary of State John Kerry. Their talks focused on conflicts in Syria and Yemen. Al-Jubeir declined to say how many troops Saudi Arabia might be prepared to send.

    Last week an adviser to the Saudi defense minister said Saudi Arabia was ready to participate in any ground operation in Syria but did not specify the possibility of sending special forces.

    Follow us on Twitter @
    28
  • Michael Bloomberg confirms eyeing 2016 presidential bid
    09.02.2016 03:02
    http://cdn.trend.az/pictures/2012/11/02/Michael-Bloomberg_021112.jpg
    http://cdn.trend.az/pictures/2012/11/02/Michael-Bloomberg_021112.jpg
    Former New York City Mayor Michael Bloomberg said he is looking at the possibility of running for the White House amid the current low quality presidential debate that offends US voters.

    "I find the level of discourse and discussion distressingly banal and an outrage and an insult to the voters," Bloomberg said on Monday in an interview with the Financial Times. The mayor added that he is "looking at all the options," when it comes to running for office.

    US media reported in January that Bloomberg had requested a draft plan for a presidential campaign as an independent.

    The Luntz Global polling firm revealed in January that the billionaire businessman could potentially become the next US president if he decides to enter the race.

    Bloomberg scored 29 percent in a hypothetical race with Democratic candidate Hillary Clinton, who gained 33 percent, and Republican contender Donald Trump, who polled at 37 percent.

    Follow us on Twitter @
    11
  • Turkey: '150,000 troops to enter Syria' reports not true
    09.02.2016 02:21
    http://cdn.trend.az/pictures/2009/07/16/Turkey_flag_160709.jpg
    http://cdn.trend.az/pictures/2009/07/16/Turkey_flag_160709.jpg
    Recent media reports saying 150,000 troops from Saudi Arabia are to enter Syria via Turkish borders in order to aid in anti-Daesh operations are not true, Turkish Prime Ministry sources said on Monday, Anadolu Agency reported.

    Turkey's bases are open for the coalition forces as part of the fight against Daesh and Ankara is ready for every type of cooperation in this sense, said the sources, who were not named according to Turkish Prime Ministry policy.

    Several media organs have circulated reports recently saying that "150,000 ground troops stationed in Saudi Arabia will soon be dispatched to Syria through Turkish borders in order to aid the U.S. led anti-Daesh coalition".

    Follow us on Twitter @
    21
  • Turkish bus company plans production in US
    09.02.2016 01:41
    http://cdn.trend.az/pictures/2015/08/12/turkey_bus_120815.jpg
    http://cdn.trend.az/pictures/2015/08/12/turkey_bus_120815.jpg
    Turkish bus manufacturer Temsa, which has reached a share of around 10 percent in the U.S. market after its entrance in 2010, has made plans to build a production facility in Georgia with the aim of reaching over 1,000 units in the initial stage, Hurriyet Daily News reported.

    SabancД± Holding's Temsa exported over 700 buses to the U.S. market in the last five years and now plans to begin production in Georgia with an expected investment worth over $10 million, according to company executives. Temsa will thus be able to bid in U.S. tenders, they added.

    "We have become one of the biggest players in the U.S. bus market, although we are not U.S.-based. This is an honor for us in such a challenging market," said SabancД± Holding Industrial Group President Mehmet Pekarun at a sector fair in Atlanta, where the company exhibited its TS35 E model, specially designed for the U.S. market.

    Temsa General Manager Dinçer Çelik said more than 700 Temsa buses were on the roads of more than 40 states of the U.S.

    "We aim to increase this figure into the 1000s in 2016 with the great contributions of our foreign operations and business partners from the U.S.," he added.

    "After we start production here, we'll be able to be a player in a 5,000-unit market rather than just being a part of the luxurious market with around 2,000 buses. In the initial stage, we plan to assemble our TS45 model, which is the most popular in the U.S. market," he noted.

    The company has seen a strong demand from technological giants, according to company executives. Some 20 Temsa buses offer services to Facebook and one bus to Twitter. Temsa has also boosted cooperation with web search giant Google. Silicon Valley companies have asked for two wireless systems and 110-volt sockets from the company.

    Temsa sold a record high numbers of buses in the Atlanta Fair at 17 and made pre-sale contracts for 35 busses, said company executives. A Temsa bus is sold for around $500,000, they added.

    The company was recently invited by the American Highways Safety Administration to discuss bus safety standards.

    "Buses have one door in the U.S. After three students lost their lives in a bus fire last year, the use of a second door has been put on the table. The U.S. authority has invited us to discuss this option," said Temsa Ramp;D and After Sales Services Director Д°brahim Eserce.

    Temsa was founded in 1968. TEMSA's manufacturing facility in the southern province of Adana has a single-shift annual production capacity of 4,000 buses and coaches and 7,500 light trucks, totaling 11,500 vehicles per year, according to the company's website.

    Follow us on Twitter @
    18
  • Ukraine could lose revenue in 2016
    09.02.2016 00:02
    http://cdn.trend.az/pictures/2012/10/04/Ukraine_flag_041012.jpg
    http://cdn.trend.az/pictures/2012/10/04/Ukraine_flag_041012.jpg
    The government of Ukraine could face revenue shortage in 2016, if it fails to address reductions in social security contributions, the International Monetary Fund (IMF) said in a report on Monday, Sputnik reported.

    "Social Security Contributions (SSC) in Ukraine need urgent attention," the report stated. "If nothing is done, the budget is poised to lose 4.5 percent of GDP in revenues in 2016 due to a legally mandated SSC rate reduction adopted in March 2015."

    The IMF argued that Ukraine has no fiscal space to omit tax revenues.

    "The possibility of financing social security entirely from the budget should only be considered in the context of a simultaneous and comprehensive review of the benefits that the system should deliver," the report stated.

    The Fund said it endorses lowering SSC rates, but underscored that it should be done more moderately than currently suggested.

    In December, the Ukrainian parliament, Verkhovna Rada, adopted the state budget for 2016 with a deficit of 3.7 percent of GDP.

    Follow us on Twitter @
    34
  • Iran, Georgia must boost all-out ties, Rouhani says
    08.02.2016 23:21
    http://cdn.trend.az/pictures/2013/08/06/hassan_rouhani_060813_9.jpg
    http://cdn.trend.az/pictures/2013/08/06/hassan_rouhani_060813_9.jpg
    Iran's President Hassan Rouhani says Tehran and Tbilisi should improve relations in all fields to serve the two nations' interests, Press TV reported.

    "Economic and cultural cooperation between Iran and Georgia should be further strengthened in line with the two nations' interests," Rouhani said in a telephone conversation with Georgian Prime Minister Giorgi Kvirikashvili on Monday.

    He added that Tehran and Tbilisi enjoy great potential to enhance economic cooperation and noted that the cancellation of visa requirements between the two sides can help improve ties.

    Rouhani said Georgia can be the corridor for trade exchanges between Iran and the Black Sea countries, adding geographical position and great common facilities have prepared the appropriate ground for multilateral cooperation.

    The Iranian president further added that the nuclear agreement, dubbed the Joint Comprehensive Plan of Action (JCPOA), reached between Iran and the P5 1 group of countries last July constituted an "international victory for diplomacy."

    Iran and the five permanent members of the UN Security Council - the United States, France, Britain, China and Russia - plus Germany started to implement the JCPOA on January 16.

    After the JCPOA went into effect, all nuclear-related sanctions imposed on Iran by the European Union, the UN Security Council and the US were lifted. Iran has, in return, put some limitations on its nuclear activities.

    The nuclear agreement was signed on July 14, 2015, following two and a half years of intensive talks.

    The Georgian premier said the JCPOA implementation would serve the interests of Iran and benefit the entire region, including Georgia, and the world.

    Kvirikashvili expressed Georgia's readiness to bolster economic cooperation and open a new chapter in bilateral relations.

    The Georgian premier said he would pay a visit to Tehran in the near future and also invited the Iranian president to travel to Tbilisi.

    Stay up to date with latest Iran news on our specialized Facebook page

    Follow us on Twitter @
    23
  • Turkey ninth most targeted by cyberattacks
    08.02.2016 22:11
    http://cdn.trend.az/pictures/2012/08/09/cyberattack_080812.jpg
    http://cdn.trend.az/pictures/2012/08/09/cyberattack_080812.jpg
    Turkey has ranked ninth on the list of countries most targeted by cyberattacks, according to a report by Turkish defense company STM, Hurriyet Daily News reported.

    Last year's cyberattacks on banks were also mentioned of the report, titled the "Cyber Security Threat Report," prepared by STM. Turkey followed the United States, China, Germany, England, Brazil, Spain, Italy and France on the list of cyberattacked countries, Anadolu Agency reported.

    The report also underlined it was part of national security to protect technologies used in energy, information, water works, agriculture, education and financial services.

    The report also said the security of Turkey's e-state services, which includes critical information about the personal data of citizens, is also significant. Chaotic results might occur if the e-state system, which has 26 million active users, is targeted by cyberattacks, the report said, adding that in such cases companies might be launched or bank loans could be taken under the names of unrelated citizens.

    The report also said "ransom attacks" around the world doubled in 2015 compared to the previous year. This term is used for cyberattacks in which the attackers block the target's system and demand a ransom to undo the damage. Turkey ranked eighth in the world among countries which are targets of ransom attacks.

    Turkey is prepared for any kind of cyberattack, according to the country's technology minister, Fikri IЕџД±k, who said in January "all necessary measures" were being taken over the latest cyberattack, which targeted hundreds of thousands of Turkish websites.

    Also in January, the Scientific and Technological Research Council of Turkey (TÜBД°TAK) launched a comprehensive project to strengthen the country's cybersecurity.

    A research and development project to assure the security of the infrastructure of critical servers was started to develop more secure Internet infrastructure for critical sectors such as banking, energy, transportation, communication, water works and health.

    TÜBД°TAK will have a budget of 6 million Turkish Liras to operate the project, which also aims to remove security breaches in Turkish servers.

    The infrastructure of critically important servers will be closely tracked by broadband systems expected to be developed as part of the project, including developing firewalls against international attacks.

    Turkey experienced a series of cyberattacks beginning on Dec. 14, 2015, which targeted nearly 400,000 websites with the extension ".tr," nearly coming to a halt in the morning hours of Dec. 21, 2015, after which recovery and damage assessment was launched by leading IT organizations along with Middle East Technical University (ODTÜ).

    In response to the cyberattack, Turkish IT professionals banned access to Turkish DNS servers from abroad before communication channels were reopened. Around 400,000 websites, however, were denied access from abroad.

    Follow us on Twitter @
    33
  • Iran nabs terrorists in border areas
    08.02.2016 22:10
    http://cdn.trend.az/pictures/2013/07/09/iran_special_forces_police_090713_2.jpg
    http://cdn.trend.az/pictures/2013/07/09/iran_special_forces_police_090713_2.jpg
    Iranian border guards have arrested 10 members of terrorist groups who were attempting to infiltrate into the country through eastern and western borders, Iran's police chief Brigadier General Hossein Ashtari says, Press TV reported.

    "Outlaws and anti-revolution groups have been making movements in border regions in recent months and we took pre-emptive and preventive measures to counter these anti-revolution groups," he told reporters on Monday.

    He added that the terrorists failed to sneak into the country.

    The police chief emphasized that Iran has a satisfactory security situation and expressed hope that the country would improve border security in cooperation with neighboring states.

    Stay up to date with latest Iran news on our specialized Facebook page

    Follow us on Twitter @
    15
  • Iran says new Peugeot contract compensates past loss
    08.02.2016 21:31
    http://cdn.trend.az/pictures/2014/06/19/iran_flag_190614.jpg
    http://cdn.trend.az/pictures/2014/06/19/iran_flag_190614.jpg
    Tehran, Iran, Feb. 8

    By Mehdi Sepahvand -- Trend:

    The newly signed Iran Khodro-Peugeot deal makes up for a previous loss the French company incurred on Iran by failing its commitments, Iranian Minister of Industry Mohammad Reza Nematzadeh said.

    However, he noted, the new deal is secret and cannot be disclosed, Tasnim news agency reported February 6.

    Peugeot withdrew its experts from Iran due to a new set of sanctions last April.

    Peugeot had finalized a new joint venture deal with Iran Khodro in March.

    Based on the deal, Peugeot was obliged to export 30 percent of cars which were manufactured jointly.

    Iran has been demanding compensation for the loss incurred by Peugeot's withdrawal of its experts from the country.

    Iran-Khodro was among the first Iranian companies to sign a deal with foreigners after sanctions were removed on January 16. The company signed a deal with Peugeot during President Hassan Rouhani's recent trip to France. The deal confirms a 50-50 venture production of cars in Iran by Peugeot and Iran Khodro.

    Peugeot is the foreign company with the biggest share in the Iranian car manufacturing industry. In 2012, Iran's car production fell from 1.6 billion cars per year to 700 thousand as Peugeot stopped investing in Iran and halted parts export to the country.

    Stay up to date with latest Iran news on our specialized Facebook page

    Follow us on Twitter @
    22
  • Top exec sacked from major Uzbek bank
    08.02.2016 20:50
    http://cdn.trend.az/pictures/2014/12/20/kreslo_201214.jpg
    http://cdn.trend.az/pictures/2014/12/20/kreslo_201214.jpg
    Tashkent, Uzbekistan, Feb. 8

    By Demir Azizov - Trend:

    Kahramon Aripov, chairman of the management board at Asaka Bank - the second largest bank in Uzbekistan, was dismissed, according to a spokesman of one of the bank's shareholders.

    The board's deputy chairman, Rustam Kasymov, will be serving as its acting chairman, the source told Trend Feb. 8.

    The source however didn't disclose the reason for Aripov's dismissal.

    Earlier, some foreign media outlets reported that Aripov was dismissed and allegedly arrested due to illegal actions.

    So far there has been no official report about Aripov's dismissal or his detention.

    The bank hasn't commented on the issue. Aripov is still indicated as the chairman of the board on the official website of Asaka Bank.

    Asaka Bank was established in 1996 and is mainly involved in lending to the automotive industry.

    Follow us on Twitter @
    21
  • Iran intends to increase gas supplies to Armenia fivefold
    08.02.2016 20:43
    http://cdn.trend.az/pictures/2012/05/30/gas_line_300512.jpg
    http://cdn.trend.az/pictures/2012/05/30/gas_line_300512.jpg
    Baku, Azerbaijan, Feb. 8

    Trend:

    Iran is considering the possibility of increasing gas exports to Armenia fivefold, Alireza Kameli, director of the National Iranian Gas Export Company, said, the Armenian website 1in.am. reported.

    "It is possible to increase gas supply up to five mcm per day even on the basis of a joint agreement between Iran and Armenia," he said.

    Kameli said that the construction of new power lines can be a key factor of increasing Iranian gas supply to Armenia.

    Currently, Iran daily exports about one mcm of gas to Armenia. The countries signed a contract for construction of the third power transmission line, which will connect the two power systems, in August 2015.

    The contract worth 107 million euros envisages the construction of a 275 kilometer-transmission line for two years. This will increase the volumes of mutual supplies of electricity threefold.

    Follow us on Twitter @
    16
  • Azerbaijanв's customs committee creates board of appeals
    08.02.2016 20:42
    http://cdn.trend.az/pictures/2015/02/23/trend_customs_committee_building_230109.jpg
    http://cdn.trend.az/pictures/2015/02/23/trend_customs_committee_building_230109.jpg
    Baku, Azerbaijan, Feb. 8

    By Azad Hasanli - Trend:

    A board of appeals was established at the Azerbaijani State Customs Committee, the Committee said Feb. 8.

    The board, consisting of seven people, is headed by Rza Hasanaliyev, chairman of the Committee.

    The new structure was established to ensure transparency and impartiality during consideration of complaints from entrepreneurs and protecting their rights and interests.

    The board of appeals was set up to execute Azerbaijani President Ilham Aliyev's decree "On Establishment of Boards of Appeals in Central and Local Executive Bodies in Azerbaijan", dated Feb. 3, 2016.

    Follow us on Twitter @
    15
  • Top exec sacked from major Uzbek bank
    08.02.2016 20:42
    http://cdn.trend.az/pictures/2014/12/20/kreslo_201214.jpg
    http://cdn.trend.az/pictures/2014/12/20/kreslo_201214.jpg
    Tashkent, Uzbekistan, Feb. 8

    By Demir Azizov - Trend:

    Kahramon Aripov, chairman of the management board at Asaka Bank - the second largest bank in Uzbekistan, was dismissed, according to a spokesman of one of the bank's shareholders.

    The board's deputy chairman, Rustam Kasymov, will be serving as its acting chairman, the source told Trend Feb. 8.

    The source however didn't disclose the reason for Aripov's dismissal.

    Earlier, some foreign media outlets reported that Aripov was dismissed and allegedly arrested due to illegal actions.

    So far there has been no official report about Aripov's dismissal or his detention.

    The bank hasn't commented on the issue. Aripov is still indicated as the chairman of the board on the official website of Asaka Bank.

    Asaka Bank was established in 1996 and is mainly involved in lending to the automotive industry.

    Follow us on Twitter @
    15
  • New deputy chairmen named at Azerbaijan Railways
    08.02.2016 20:40
    http://cdn.trend.az/pictures/2015/11/24/ady_bina_241115.jpg
    http://cdn.trend.az/pictures/2015/11/24/ady_bina_241115.jpg
    Baku, Azerbaijan, Feb. 8

    By Azad Hasanli - Trend:

    Zaman Novruzov and Hijran Valehov were appointed new deputy chairmen at Azerbaijan Railways CJSC, the company told Trend Feb. 8.

    The newly appointed deputy chairmen replaced Etibar Niftaliyev and Gurban Nazirov, according to Azerbaijan Railways CJSC.

    Azerbaijan Railways CJSC Chairman Javid Gurbanov has a total of four deputies: Alirza Suleymanov, Igbal Huseynov, Zaman Novruzov and Hijran Valehov.

    Follow us on Twitter @
    16
  • Azerbaijani property issues authority sets up board of appeals
    08.02.2016 20:40
    http://cdn.trend.az/pictures/2014/02/20/emlak_meseleleri_dovlet_komitesi_200214.jpg
    http://cdn.trend.az/pictures/2014/02/20/emlak_meseleleri_dovlet_komitesi_200214.jpg
    Baku, Azerbaijan, Feb. 8

    By Anvar Mammadov - Trend:

    A board of appeals was established at the Azerbaijani State Committee on Property Issues, the Committee said Feb. 8.

    The board, consisting of six people, is headed by Rustam Shahbazov, deputy chairman of the Committee.

    The Committee's new structure was established to ensure transparency and impartiality during consideration of complaints from entrepreneurs and protecting their rights and interests.

    The board of appeals was set up to execute Azerbaijani President Ilham Aliyev's decree "On Establishment of Boards of Appeals in Central and Local Executive Bodies in Azerbaijan", dated Feb. 3, 2016.

    Follow us on Twitter @
    14
  • Kazakh Stock Exchange names new head
    08.02.2016 20:09
    http://cdn.trend.az/pictures/2016/02/08/_kazakhstan_stock_exchange_logo_eng_080216.jpg
    http://cdn.trend.az/pictures/2016/02/08/_kazakhstan_stock_exchange_logo_eng_080216.jpg
    Baku, Azerbaijan, Feb. 8

    By Elena Kosolapova - Trend:

    Alina Aldambergen became the new chairperson of the management board of Kazakhstan Stock Exchange (KASE).

    She was elected to this position for three years according to a decision of the KASE Board of Directors, KASE said Feb. 8.

    Previously, Aldambergen served as deputy chairperson of the management board at Baiterek Holding, director general of Samruk-Kazyna JSC, deputy chairperson of the Agency of Kazakhstan for Regulation and Surveillance of Financial Market and Financial Institutions, and held executive positions at the second-tier banks.

    Aldambergen replaced Esjan Birtanov in this position.

    Birtanov was appointed the head of National Investment Corporation of Kazakhstan's National Bank.

    ---

    Follow the author on Twitter: @E_Kosolapova

    Follow us on Twitter @
    23
  • Decline in cigarette prices in Azerbaijan - consequence of combating smuggling
    08.02.2016 20:01
    http://cdn.trend.az/pictures/2015/12/01/cigarettes_011215.jpg
    http://cdn.trend.az/pictures/2015/12/01/cigarettes_011215.jpg
    Baku, Azerbaijan, Feb. 8

    Trend:

    The main reason for the decline in the cigarette prices is to combat the smuggled tobacco products on the Azerbaijani market, Ali Verdiyev, corporate affairs and communications manager at Japan Tobacco International (JTI) Azerbaijan, told Trend Feb. 8.

    He said that after the prices increased, the tobacco products being imported into the country illegally appeared on the Azerbaijani market.

    "These products cost less," he said. "Therefore, despite their poor quality, people sought to buy them. Therefore, we decided to reduce the cigarette prices to prevent the spread of smuggled products."

    He said that this decision was also taken given a decrease in the purchasing power of the population.

    Story still developing

    Follow us on Twitter @
    14
  • Government to protect local manufacturers
    08.02.2016 18:54
    http://www.today.az/pictures/pic147654.jpg
    http://www.today.az/pictures/pic147654.jpg
    /By Azernews/

    By Nazrin Gadimova

    Azerbaijan, that saw two devaluations last year over the sharp decrease in oil prices, now takes concrete steps to release its domestic market on dependence of import goods.

    The parliament will discuss a new draft law "On anti-dumping, countervailing and protective measures" in a bid to strengthen protection of local manufacturers' interests.

    The law envisages preventing damage caused by the dumping policy, which occurs when manufacturers export a product to another country at a price either below the price charged in its home market or below its cost of production. This policy is carried out with various purposes, including penetration or strengthening in the new market and displacement of competitors.

    In case of lack of similar goods in exporting countryв's internal commodity turnover, or if the sale volume of these goods in the home market is less than five percent from the volume of its export, the above-mentioned law provides determination of the dumping margin by comparing goodsв' export price with its export price in the third country.

    At the same time, if the exporting country conducted sale of these goods within at least six months (in volumes not less than 20 percent of the volume, which allows determining the normal cost of goods), it cannot form the basis for determining normal cost of goods, the law says.

    According to the law, influence of the dumping or subsidized import on the local manufacturers will be defined by the analysis of the import volume, its influence on the cost of local goods, a difference between the price on the imported and local goods, as well as a dumping margin and some other indicators.

    Appropriate anti-dumping measures can be applied only after careful researches and 60 days within the beginning of check.

    Temporary measures such as anti-dumping or countervailing duties, or the monetary deposit equal to these duties, can only be taken after completion of the investigation into complaints of local manufacturers and only when the dumping policy causes material damage to the national industry. In general, anti-dumping and countervailing measures can be applied no more than five years.

    Earlier, Assistant to the President of the Azerbaijan Republic on economic reforms Natig Amirov said encouraging and stimulating local production and reducing dependence on import are a key task today.

    He noted that mass importation of goods into the country was disturbing local manufacturers.

    ''Today a large number of local manufacturers ask to create the rules regulating the rivalry between the local goods and import goods,'' Amirov stressed.

    However, he believes that it is necessary to maintain healthy competition on the market.

    "Local production cannot be developed only by restricting goods import. That will eradicate competition, further leading to tranquility among local producers,'' he added.

    The bill will be discussed at the parliamentary session on February 12, 2016.
    28
  • Azerbaijani FM receives GUAM Secretary General
    08.02.2016 18:51
    http://cdn.trend.az/pictures/2016/02/08/elmar_mammadyarov_altay_efendiyev_080216.jpg
    http://cdn.trend.az/pictures/2016/02/08/elmar_mammadyarov_altay_efendiyev_080216.jpg
    Baku, Azerbaijan, Feb. 8

    Trend:

    Azerbaijani Foreign Minister Elmar Mammadyarov received Altay Efendiyev, Secretary General of the GUAM Organization for Democracy and Economic Development Feb. 8, the Azerbaijani foreign ministry told Trend.

    At the meeting, the sides discussed the development of economic-trade relations and sectorial cooperation within the working groups among the Member States in the framework of the GUAM Organization for Democracy and Economic Development.

    Mammadyarov stressed the contribution of Azerbaijan, as the current chair of the GUAM Organization, to the development of cooperation among the Member States in the fields of transport, tourism, energy, information and communication technologies.

    At the meeting, the sides also exchanged views on the issues of mutual interest.

    Follow us on Twitter @
    14
  • Turkish Airlinesв' plane makes emergency landing in Baku
    08.02.2016 18:40
    http://cdn.trend.az/pictures/2012/03/27/Turkish_Airlines_Plane_270312.jpg
    http://cdn.trend.az/pictures/2012/03/27/Turkish_Airlines_Plane_270312.jpg
    Baku, Azerbaijan, Feb. 8

    By Azad Hasanli - Trend:

    A plane of the Turkish Airlines made an emergency landing in Baku Feb. 6, Azerbaijan Airlines told Trend Feb. 8.

    "Boeing 777 plane, flying on the route Dehli-Istanbul, made an emergency landing due to an object on the board [mobile phone] in Baku at 09:30 Feb. 6," said the company.

    The plane continued its flight after the re-examination procedure, the company added.

    In total, there were 331 passengers and 14 crew members on the board.

    Follow us on Twitter @
    17
  • Azerbaijan to face Russia in quarter-final of Futsal EURO 2016
    08.02.2016 18:15
    http://www.today.az/pictures/pic147650.jpg
    http://www.today.az/pictures/pic147650.jpg
    The quarter-finals of UEFA Futsal EURO 2016 have been set in Belgrade, with Serbia v Ukraine and Portugal v Spain on Monday before Russia v Azerbaijan and Italy v Kazakhstan the following night.

    The top two in the four groups earned knockout berths and all will be looking to progress within a step of the final over the next two nights at Belgrade Arena. Before Portugal take on Spain, hosts Serbia meet Ukraine in front of what is bound to be another packed house, while on Tuesday it is Russia who tackle Azerbaijan before holders Italy face finals debutants Kazakhstan.

    /By Azertac/
    16
  • Customers of bankrupt Azerbaijani banks not in hurry to get money back
    08.02.2016 18:14
    http://www.today.az/pictures/pic147651.jpg
    http://www.today.az/pictures/pic147651.jpg
    The Azerbaijan Deposit Insurance Fund (ADIF) has paid out about 150,000 mants to 12 clients of Ganja Bank, said the head of the ADIF fund Azad Javadov.

    Ganja Bank's licence was cancelled upon a decision of the Central Bank of Azerbaijan (CBA) Jan. 22, 2016. This decision was made because the total capital of the bank didnв't correspond to the CBA minimum requirement of 50 million manats.

    The bank couldnв't fulfill its obligations to creditors and didnв't manage its current activity reliably and prudentially.

    Javadov said that activity of the Gandja Bank's depositors is quite low.

    ''Despite repeated warnings, customers of Gandja Bank arenв't active and donв't hurry to get their deposits back,'' Javadov said, adding that the clients of the bank will be able to receive their compensations in Baku branches of the agent banks as well.

    Rabita Bank, Unibank and Kapital Bank were appointed agent banks. Payments of compensations started since Feb. 4. ADIF will pay 1.5 million manats to 378 insured depositors of Ganja Bank.

    Javadov also said that there is low activity among the depositors of Bank of Azerbaijan, which also got its licence revoked.

    The depositors of Bank of Azerbaijan can receive compensations in the branches of Muganbank and Rabita Bank, which were appointed agent banks. ADIF returns up to 30,000 manats on each insured deposit.

    ''Until now, we have paid compensation worth over 16 million manats,'' he said. ''If earlier, we paid 2-3 million manats daily, now the payments have decreased to 1.5 million manats per day.''

    The amount of the insured deposits in Bank of Azerbaijan is 24.2 million manats.

    /By
    14
  • Moody's expects growth in Azerbaijan's GDP
    08.02.2016 18:14
    http://www.today.az/pictures/pic147655.jpg
    http://www.today.az/pictures/pic147655.jpg
    /By Azernews/

    By Aynur Karimova

    Moodyв's Rating Agency has revealed its forecast on Azerbaijan's GDP growth in 2017, projecting the figure around 1 percent, rising slowly thereafter.

    The agency has changed Azerbaijanв's government bond and issuer ratings, approving them at Ba1.

    Earlier, Standard amp; Poorв's international ratings agency forecasted Azerbaijanв's GDP growth to stand at 2 percent in 2017, 4 percent in 2018, and 4.5 percent in 2019.

    Standard amp; Poorв's experts expect that GDP growth to reach 62 billion manats ($40 billion) in 2016, 69 billion manats ($44 billion) in 2017, 77 billion manats ($49 billion) in 2018, and 83 billion manats ($53 billion) in 2019.

    Under the agencyв's forecasts, GDP per capita will grow and reach $4,100 in 2016, $4,500 in 2017, $5,000 in 2018, and $5,400 in 2019.

    The Azerbaijani State Statistics Committee reported that the countryв's GDP volume amounted to 54.4 billion manats ($33.76 billion) in 2015 or by 1.1 percent more than in 2014.

    The Azerbaijani government expects the economic growth of the country to hold steady at 1.8 percent in 2016.

    The international financial institutions forecast Azerbaijan's GDP growth in coming years at different levels. In particular, the World Bank forecasts 2.6 percent of GDP growth in 2016, while for 2017 the figure will rise up to 2.7 percent.

    The International Monetary Fund has kept its forecast for economic growth unchanged at 2.5 percent for next year.

    The European Bank for Reconstruction and Development expects that the rate of Azerbaijan's GDP growth to be at 2.5 percent in 2016, while the Asian Development Bank reported that it has kept its forecast for economic growth in Azerbaijan at 2.8 percent in 2016.

    Economists believe that the main factors that can affect the dynamics of Azerbaijanв's GDP are oil prices, global competitiveness of the national currency, and funds allocated from the state budget for investment.

    The government, which is keen to boost the share of the non-oil sector in the country's GDP, has set a goal to develop competitive sub-spheres of this sector. It is planned that state support for production of non-oil products will be strengthened, new enterprises will be created and the reconstruction of the existing ones will be carried out.

    Particular attention will be paid to the establishment of the enterprises for processing natural resources and agricultural products. In 2016, the timely and full redistribution of tax revenues from medium and large enterprises will be ensured in order to increase revenues from the non-oil sector.

    Thus, Azerbaijan will achieve the increase of the share of the non-oil sector in the country's GDP.
    16
  • Another refugee boat sinks off Turkish coast, 22 killed
    08.02.2016 18:12
    http://cdn.trend.az/pictures/2016/02/08/refugees_boat_080216.jpg
    http://cdn.trend.az/pictures/2016/02/08/refugees_boat_080216.jpg
    Baku, Azerbaijan, Feb. 8

    By Rufiz Hafizoglu - Trend:

    At least 22 people drowned when a boat carrying Syrian refugees sank off Turkey's coast in the Aegean Sea, the Turkish Haber7 newspaper reported Feb. 8.

    In late January, a vessel carrying Syrian migrants sank as they were trying to illegally cross into Greece from the Turkish province of Canakkale. Thirty five people died in that shipwreck.

    Follow us on Twitter @
    15
  • Azerbaijanв's Central Bank sets manat rate for Feb. 9
    08.02.2016 18:03
    http://cdn.trend.az/pictures/2016/01/07/manat_dollar_070116.jpg
    http://cdn.trend.az/pictures/2016/01/07/manat_dollar_070116.jpg
    Baku, Azerbaijan, Feb. 8

    Trend:

    Official exchange rate of manat, Azerbaijani national currency, against the US dollar was set at 1.5787 manats/$1 for Feb. 9, said the Central Bank of Azerbaijan (CBA) Feb. 8.

    The average rate of manat was set following the interbank transactions on the Azerbaijani currency market, said the CBA.

    Some $12 million, provided by the CBA, were sold to banks through auctions Feb. 8.

    Follow us on Twitter @
    19
  • Gulf countries likely to keep oil production high, expert says
    08.02.2016 18:02
    http://cdn.trend.az/pictures/2010/08/15/south_pars.jpg
    http://cdn.trend.az/pictures/2010/08/15/south_pars.jpg
    Baku, Azerbaijan, Feb. 8

    By Aygun Badalova - Trend:

    The Gulf countries will pursue the strategy to regain market share by keeping oil production high, Jason Tuvey, Middle East Economist at British economic research and consulting company Capital Economics believes.

    "Oil production is likely to be kept high in an effort to regain market share from high-cost producers, despite mounting calls from other OPEC members to cut production in order to shore up prices," Tuvey said in a report, obtained by Trend.

    With Iran is increasing oil supplies following the lifting of sanctions, the economist thinks there will be little scope for the Gulf countries to raise their oil output further.

    Free of sanctions, Iran plans to increase its oil export by 500,000 barrels per day, and then raise the figure by another 500,000 to two million barrels per day within a six month period.

    Total OPEC production in 2015 amounted to 31.846 million barrels per day compared to 30.771 million barrels per day in 2014. The official production quota for OPEC production is set at 30 million barrels per day.

    At the same time the report noted that the Gulf economies weathered the storm created by the collapse in oil prices well last year.

    Saudi Arabia's economy grew by 3.4 percent, broadly the same pace as in 2014, according to the data published in the report. Qatar and Bahrain also recorded robust growth, while low-profile indicators suggest that activity in the other GCC countries held up well too, the report said.

    "All of this stands in stark contrast to many other major oil producers. Russia's economy contracted by 3.7 percent and Venezuelan GDP probably fell by around 10 percent," Tuvey said.

    Overall, British company expects that the Gulf's GDP will likely average around 1.5-2 percent in 2016, which is far below the rates of 5 percent or more recorded in the past decade.

    Saudi Arabia's oil minister Ali al-Naimi talked about cooperation between OPEC members and other oil producers to stabilize the global oil market with his Venezuelan counterpart on Sunday, but there was no agreement to hold an early meeting of suppliers.

    Follow us on Twitter @
    12
  • All countries should make efforts to solve Syrian crisis '" Turkish PM
    08.02.2016 17:32
    http://cdn.trend.az/pictures/2015/07/13/trend_ahmet_davutoglu_071212.jpg
    http://cdn.trend.az/pictures/2015/07/13/trend_ahmet_davutoglu_071212.jpg
    Baku, Azerbaijan, Feb. 8

    By Rufiz Hafizoglu - Trend:

    The problem of Syrian refugees is not only Turkey's problem, but a global one, Turkish Prime Minister Ahmet Davutoglu said, the Turkish TRT Haber TV channel reported Feb. 8.

    Davutoglu noted that all countries should make efforts to solve the Syrian crisis.

    Earlier, Davutoglu, speaking at the lsquo;Supporting Syria and the Region' conference in London, said that another 10,000 refugees are now on the border with Turkey, intending to get to the country, and it is connected with military operations in the Syrian city of Aleppo.

    Currently, Turkey is hosting more than two million Syrian refugees on its territory. The Syrian refugee camps in the country accommodate about 300,000 people. The rest of them are spread across the provinces and cities of Turkey.

    In Istanbul alone, there are currently 40,000 refugees from Syria. Ankara has so far spent $8 billion to upkeep the Syrian refugees.

    Davutoglu also said that Russia and Iran are responsible for the deaths of civilians in Syria.

    He said that Russia, supporting the Syrian regime, conducts ethnic cleansing in Syria, including the Syrian city of Aleppo, which has special significance for Turkey.

    ---

    Follow the author on Twitter: @rhafizoglu

    Follow us on Twitter @
    16
  • Azercell employee supports SITE Scientific Seminars program
    08.02.2016 17:32
    http://cdn.trend.az/pictures/2016/02/08/javid_kerimov_azercell_070216.jpg
    http://cdn.trend.az/pictures/2016/02/08/javid_kerimov_azercell_070216.jpg
    Baku, Azerbaijan, Feb. 8

    Trend:

    Along with Azercell Telecom, the leading mobile carrier of the country that contributes regularly to various projects aimed at educational development, skilled employees of the company also continue to provide their extended support in this field. Specialists from various departments of Azercell take part in seminars held in educational institutions over the country and share their theoretical knowledge and rich experience. This time an Azercell employee joined SITE Scientific Seminars organized by School of Information Technologies and Engineering (SITE). Javid Karimov, head of Products and Services Testing division gave a lecture in the event held on February 5 at ADA University.

    Javid Karimov graduated from the faculty of Automated Management Systems of Azerbaijani State Oil Academy and obtained MBA in Computer Sciences from Azerbaijani State Oil Academy and the University of Georgia. In the seminar "How does Azercell test its products?", Javid Karimov shares his expertise on the topics, such as essentials and importance of software testing and principles of software testing. The lecturer also informed the audience about the types and stages of testing methods applied by Azercell in order to ensure high quality services for clients. A special after-lecture workshop was arranged in order to better understand the subject.

    School of Information Technologies and Engineering (SITE) was established in 2012 with the purpose of preparing a critical mass of high-caliber IT specialists and engineers to meet the current requirements of country's development priorities.

    Azercell's highly skilled professionals will continue to share their knowledge and competence with students and the youth through similar seminars, lectures and courses.

    Azercell Telecom LLC was founded in 1996 and since the first years sustains a leading position in the market. Azercell introduced number of technological innovations in Azerbaijan: GSM technology, advance payment mobile services, M2M,MobilBank, GPRS/EDGE (mobile internet), 24/7 Customer Care, full-time operating Azercell Express offices, mobile e-service "ASAN imza" (ASAN signature) and others.

    With 48,2% share of Azerbaijan's mobile market Azercell's network covers 99,8% of the country's population. In 2013, the number of Azercell's subscribers reached 4,5 million people. In 2011 Azercell deployed 3G and in 2012 the fourth generation network - LTE in Azerbaijan. The Company is the leader of Azerbaijan's mobile communication industry and the biggest investor in the non-oil sector. Azercell is a part of TeliaSonera Group of Companies serving 186 million subscribers in 17 countries worldwide with 27,000 employees.

    13
  • Management change at Azerbaijanв's Demirbank
    08.02.2016 17:30
    http://cdn.trend.az/pictures/2012/08/13/Demir Bank logo.jpg
    http://cdn.trend.az/pictures/2012/08/13/Demir Bank logo.jpg
    Baku, Azerbaijan, Feb. 8

    By Anvar Mammadov - Trend:

    Rauf Akhundov left the post of deputy chairman of the Management Board of Azerbaijan's Demirbank, where he worked since 2007, said the bank's message.

    At present, the bank's board consists of four people: chairman Roman Amirjanov, first deputy chairman - Farid Abyshev, and deputies of chairman - Azer Humbatov and Orkhan Vahabov.

    Demirbank is the first commercial bank of Azerbaijan. The bank began its activity in 1989.

    Major international financial institutions, including the European Bank for Reconstruction and Development and Netherlands Development Finance Company (FMO) are among the bank's shareholders.

    ---

    Follow the author on Twitter: @Anvar_Mammadov

    Follow us on Twitter @
    14
  • Russia, Iran to issue 5-year multiple-entry visas '" embassy
    08.02.2016 17:22
    http://cdn.trend.az/pictures/2015/02/10/e-visa_2.jpg
    http://cdn.trend.az/pictures/2015/02/10/e-visa_2.jpg
    The diplomatic missions in Russia and Iran may issue multiple-entry visas for up to five years to the citizens on the list of categories envisaged by a memorandum on consular cooperation, Russia's embassy in Iran said Feb. 7, TASS Russian news agency reported.

    "The embassies of Iran and Russia, and their consulates-general may issue multiple-entry visas for one year for citizens from a group mentioned in the text (of memorandum) if the visa recipient earlier obtained a single-entry visa to the accepting country," the press service said.

    "The embassies and consulates-general of both countries will be also able to issue visas for five years," it said.

    An agreement between Russia and Iran to simplify visa issuance procedures came into effect on Feb. 6. An intergovernmental agreement was signed in Tehran on Nov. 23, 2015 following a meeting of the Russian and Iranian presidents, Vladimir Putin and Hassan Rouhani.

    The categories of citizens subject to simplified visa procedures are pupils, students and university teachers of both countries, as well as arts and culture groups. Businessmen and entrepreneurs of any region of Iran and Russia who have an agreement on brotherly relations may obtain a visa upon a written request of a mayor or a governor.

    Follow us on Twitter @
    14
  • Kazakhstan to provide humanitarian aid to Tajikistan and Kyrgyzstan
    08.02.2016 17:21
    http://cdn.trend.az/pictures/2012/10/16/Humanitar_help_161012.jpg
    http://cdn.trend.az/pictures/2012/10/16/Humanitar_help_161012.jpg
    Baku, Azerbaijan, Feb. 8

    By Elena Kosolapova - Trend:

    Kazakhstan will provide humanitarian aid to Tajikistan and Kyrgyzstan, the website of the Kazakh prime minister said.

    This decision was taken Feb. 8 at a meeting of the commission on international humanitarian aid under the chairmanship of Bakytzhan Sagintayev, First Deputy Prime Minister of Kazakhstan.

    The victims of mudflow and flood in Tajikistan's districts will be provided with canned meat and milk, vegetable oil and butter, flour, and pasta.

    Meanwhile, beddings, utensils, stoves and winter tents are planned to send to Kyrgyzstan, which was struck by a strong earthquake in November 2015.

    ---

    Follow the author on Twitter: @E_Kosolapova

    Follow us on Twitter @
    15
  • Azerbaijani wrestlers win 8 medals in Istanbul
    08.02.2016 16:53
    http://www.today.az/pictures/pic147647.jpg
    http://www.today.az/pictures/pic147647.jpg
    Azerbaijani freestyle wrestlers have brought home a clutch of eight medals, including a gold from the 44th international Yasar Dogu memorial tournament in Istanbul.

    The gold medal came from Alexander Gostiyev in the 86kg weight category.

    Other Azerbaijani wrestlers Hajimurat Omerov (70kg) claimed silver, while Hamzat Osmanov (86 kg), Aghahuseyn Mustafayev (65kg), Mahir Amiraslanov (57kg), Giorgi Edisherashvili (57kg), Gitinomagomed Hajiyev (70kg) and Jamaladdin Mahammadov (125kg) scooped bronze medals.

    Azerbaijan ranked 3rd in the overall medal table, behind Turkey and Mongolia.

    /By
    16
  • Nearly 66,000 depositors of Azerbaijanв's Texnikabank to receive compensation
    08.02.2016 16:53
    http://www.today.az/pictures/pic147646.jpg
    http://www.today.az/pictures/pic147646.jpg
    The Azerbaijan Deposit Insurance Fund (ADIF) continues the analysis of customer accounts of the countryв's Texnikabank OJSC, head of the fund Azad Javadov told reporters Feb. 8.

    Texnikabank's license was cancelled by the Central Bank of Azerbaijan. This decision was made because the total capital of the bank didnв't correspond to the CBA minimum requirement of 50 million manats.

    Javadov said that according to preliminary data, compensation totaling 79.34 million manats on 66,000 deposits will be paid.

    Javadov noted that the depositors of Texnikabank will be able to receive compensations in four agent banks.

    ''As is known, of Texnikabank is the largest of the liquidated banks,'' he said. ''So the analysis of its accounts may take more time. Regarding the agent banks, we plan to attract Muganbank, Rabitabank, Unibank and Kapital Bank as such."

    Texnikabank has been operating in Azerbaijan since 1994 (previously - Rashadbank).

    /By
    10
  • US urges all parties to take steps toward peaceful resolution of Karabakh conflict
    08.02.2016 16:50
    http://cdn.trend.az/pictures/2015/07/14/trend_robert_cekuta_130715.jpg
    http://cdn.trend.az/pictures/2015/07/14/trend_robert_cekuta_130715.jpg
    Baku, Azerbaijan, Feb. 8

    Trend:

    The US urges all parties to take steps toward a peaceful resolution of the Nagorno-Karabakh conflict, US ambassador to Azerbaijan Robert Cekuta said.

    Cekuta was delivering speech at an event dedicated to the upcoming anniversary of the Khojaly tragedy, the embassy's Twitter page says.

    "The past tragedies must be remembered," the diplomat said. "The reconciliation efforts must move forward to prevent repeats."

    On February 25-26, 1992, the Armenian armed forces, together with the 366th infantry regiment of Soviet troops stationed in Khankendi committed an act of genocide against the population of the Azerbaijani town of Khojaly.

    As a result of the massacre, some 613 people were killed, including 63 children, 106 women and 70 old people. Eight families were totally exterminated, 130 children lost one parent and 25 children lost both. A total of 487 civilians became disabled as a result of the onslaught. Some 1,275 innocent residents were taken hostage, while the fate of 150 people remains unknown.

    The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts.

    The two countries signed a ceasefire agreement in 1994. The co-chairs of the OSCE Minsk Group, Russia, France and the US are currently holding peace negotiations. Armenia has not yet implemented the UN Security Council's four resolutions on withdrawal of its armed forces from the Nagorno-Karabakh and the surrounding districts.

    Follow us on Twitter @
    11
  • Iran keen to establish medicine production facility in Azerbaijan
    08.02.2016 16:18
    http://www.topnews.az/images/logo.png
    http://www.topnews.az/images/logo.png
    /By Azernews/

    By Aynur Karimova

    Iran, which has recently made great achievements in the health field, is interested in establishing an enterprise for medicine production in Azerbaijan.

    Such a proposal was made last week at a meeting held in Baku between Azerbaijan's Economy and Industry Minister Shahin Mustafayev and an Iranian delegation headed by Reza Raei, Acting Chairman of the Organization of Social Protection.

    Raei spoke about the Organization of Social Protection of Iran and the "Darou pakhsh" pharmaceutical company, which operates under the organization.

    The sides discussed the possibility of cooperation in the field of production of medicines in Azerbaijan.

    The Azerbaijani side agreed to consider these proposals and study the possibility of their realization.

    Developing pharmaceutical manufacturing in Azerbaijan may become one of major directions in the country's aim to diversify its non-oil sector of the economy.

    In late 2015, the government announced that Azerbaijan will establish its own enterprises that will manufacture medicines to cease dependence on imports.

    The market of medicines in Azerbaijan by 97 percent dependent on imports, while 57 percent of medicines registered in the country are produced in Europe, 26 percent in the CIS countries, including 12 percent made in Russia. The small proportion is produced in Asian countries.

    In this regard, the government is keen to cooperate with foreign companies as well.

    Iran's pharmaceutical market experienced a sharp growth last year, rising to $1.2 billion. There are as many as 65 pharmaceutical companies in the country, but their operations are basically limited to local formulation.

    The modern Iranian pharmaceutical system in the country commenced 100 years ago with the opening of the first modern-style pharmacy by German, French, and Austrian pharmacists in Tehran. Established in 1946, Abidi was the first Iranian pharmaceutical company, followed by Tolid Darou and Darou Pakhsh in 1958 and 1963, respectively.

    The pharmaceutical industry is regulated by the government, where the production and importation of drugs is heavily subsidized.
    16
  • Get acquainted with winds of Absheron
    08.02.2016 16:17
    http://www.today.az/pictures/pic147641.jpg
    http://www.today.az/pictures/pic147641.jpg
    /By Azernews/

    By Amina Nazarli

    Bakuв's Natavan gallery will open its doors for the contemporary art exhibition titled ''Winds of Absheron''.Organized by the Arts Council Azerbaijan following the previously announced tender, the event is scheduled for February 11.

    The exhibition will include works by artists of different ages, but equally enamored in Absheron.

    Absheron Peninsula, which is a home to the country's capital Baku, has a rich history and shrouded in numerous legends. The artists draw inspiration from Absheronв's nature, architecture, as well as cultural lifestyle of its inhabitants.

    Absheron is unthinkable without the winds. Southern wind Gilavar which softens the winter cold and north wind Khazri bring coolness in the summer heat. These winds are often played as the motives in music, stories and, of course, pictures of various painters.

    The exhibition will last until February 18. The entrance is free.
    10
  • Swiss company loads Iranian oil for delivering European consumers
    08.02.2016 16:17
    http://www.today.az/pictures/pic147642.jpg
    http://www.today.az/pictures/pic147642.jpg
    /By Azernews/

    By Aynur Karimova

    Glencore PLC, the Switzerland-based mining and trading giant, has become the first Western company to load oil of energy-rich and sanctions-free Iran.

    The Wall Street Journal reported with reference to the shipping company officials that shipping of Iranian oil started on February 5.

    A tanker chartered by Glencore AG loaded 80,000 metric tons of fuel oil at the Iranian oil-products terminal of Bandar Mahshahr and left bound for the United Arab Emirates.

    Iran, the fourth country in the world for its proven oil reserves of 158 billion barrels, has been producing additional 200,000 bpd of oil since January 21 and storing for later export to Europe, Fars news agency reported on February 7 quoting an informed source.

    The source told local media that the stored additional oil will be exported to Iranв's traditional European customers, pointing out that Greece is likely to be its first receiver.

    The developments come in the wake of the removal of international sanctions on Iran. The sanctions are lifted in accordance with the Joint Comprehensive Plan of Action between Iran and the group 5 1, which came into force on January 16.

    Foreign energy giants, operating in the oil and gas fields of Iran, have been long awaiting their return to the vast Iranian market. The removal of sanctions has paved the way to restore their activities in the Islamic Republic and take even greater benefits from operations in this new market.

    Iran used to sell as much as 800,000 bpd to European refiners in Italy, Spain and Greece before the sanctions over its nuclear program were imposed.

    On February 6, Iranian Oil Minister Bijan Zanganeh said Iran plans to sell 300,000 barrels of crude oil a day to Europe, a major market for the Islamic Republic before much of the West imposed sanctions in response to Tehranв's nuclear program in 2012.

    The minister also revealed some figures about the country's oil export plans. He said an agreement on export of 160,000 bpd of oil to Franceв's Total will come into force on February 16.

    Zanganeh also said Total is also going to start work on Iranian projects, including the Sough Azadegan oil field and Iranв's LNG.

    The Italian Eni is also going to sign a contract with Iran during a near future visit of the companyв's representatives to Tehran. Eni has requested a flow of 100,000 bpd of oil. There are talks that the company is going to develop an oil field for Iran.

    The Italian Saras is also seeking 60,000-70,000 bpd from Iran.

    Iran, which aims to boost its oil exports by 500,000 barrels a day in the next few months, demonstrates how one of the worldв's biggest energy producers is keen to return its traditional markets and increase export of oil and gas thanks to the implementation of the JCPOA.

    Over the past decade in a bid to curb Iranв's nuclear program, the international community took measures against Tehran, including restrictions imposed on the countryв's financial system, as well as industry, which have had a catastrophic impact on Iraniansв' economic situation and life conditions.

    Thus, the implementation of the JCPOA is expected to bring a comprehensive development to Iran's economy.

    Taking this into account, Iranian President Hassan Rouhani has awarded two ministers, as well as the country's atomic chief with medals of Honor and valor, for their involvement in the implementation of the JCPOA.Foreign Minister Mohamad Javad Zarif has received the Medal of Honor while Head of the Atomic Energy Organization of Iran Ali Akbar Salehi and Minister of Defense Brigadier General Hossein Dehqan were awarded with the medals of valor, IRNA news agency reported.
    13
  • EBRD extends loan for Turkmen transport company
    08.02.2016 16:14
    http://cdn.trend.az/pictures/2012/05/17/EBRD_logo_Album_170512.jpg
    http://cdn.trend.az/pictures/2012/05/17/EBRD_logo_Album_170512.jpg
    Baku, Azerbaijan, Feb. 8

    By Aygun Badalova - Trend:

    The European Bank for Reconstruction and Development (EBRD) has extended a $2.1 million loan to Turkmenistan's private transport company Avtotrans, the bank said in a message on Feb.8.

    The loan will be used to finance an acquisition of up to 25 semi-trailer trucks and other vehicles such as truck cranes, buses and sport utility vehicles (SUVs) to support the company's present and future activities in transportation and construction.

    Avtotrans is also planning to expand its fleet to gradually tap into the international transportation market. The company is currently looking into new export and import opportunities with industrial producers in various sectors in Belarus, Turkey, Afghanistan, China and Ukraine.

    "This will support Turkmenistan's closer and deeper integration into the global economy - one of the EBRD's key goals for Turkmenistan," the EBRD's reported.

    Avtotrans Holding Company undertakes construction, transportation, trading and advertising activities in the Lebap province in the north-east of Turkmenistan. It was founded in 1995 as a provider of transport services and over the years diversified into other business segments.

    To date, the EBRD has invested euro;238 million into various sectors of the economy of Turkmenistan.

    Follow us on Twitter @
    14
MORE NEWS...
Exchange Rates of Central Bank