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Monthly Archives: September 2014

Cotton production suffering setbacks in Azerbaijan

Cotton production industry, once a very productive sphere in Azerbaijan is now suffering from some setbacks. Over the past 18 years, cotton production decreased by six times in the country. Moreover, the amount of acreages fell by nine times. Azerbaijan produced 2.7 million tons of cotton in 1995, while in …

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Flights en route Abu Dhabi -Baku launched

Etihad Airways, the national airline of the United Arab Emirates, has announced the launch of a four times per week service linking Abu Dhabi to Baku. The flights, which commence from October 1, 2015, will be operated using an Airbus A320 aircraft with 16 Business Class and 120 Economy Class …

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Belarus ready to share high-tech experience with Azerbaijan

Belarus has expressed readiness to share its experience in high technologies field with Azerbaijan. This was said by Belarusian Ambassador Extraordinary and Plenipotentiary Nikolay Paskevich at a meeting with Azerbaijan’s Communications and High Technologies Minister Ali Abbasov. Paskevich said high technologies parks operating in Belarus are interested in cooperating with …

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Argentina, Azerbaijan express readiness to co-op in nuclear research

Azerbaijan’s National Center for Nuclear Research and the Argentine company INVAP S.E. have called for further cooperation in the construction of nuclear reactors, Communications and High Technologies Ministry reported. The Ministry said the issue of cooperation was discussed at a meeting between the Communications and High Technologies Minister Ali Abbasov …

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Advantageous campaign from Azerbaijan Airlines

AZAL, Azerbaijan’s biggest airline and national flag carrier, has offered a special promotion “Autumn Offers” on international flights. Those who want to take advantage of the autumn campaign should be informed that the sales period within the autumn campaign is October 1 – 15, 2014 and travel period is from …

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Azerbaijan, China to cooperate in emergency management

The Azerbaijani Emergency Situations Ministry and the Chinese Ministry of Civil Affairs signed a memorandum of understanding on cooperation in the field of emergency management, The memorandum was signed following a meeting between Azerbaijani Minister of Emergency Situations Kamaladdin Heydarov and Chinese Minister of Civil Affairs Li Liguo, the Azerbaijani …

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EBRD SELLS ITS HOLDING IN BANK OF GEORGIA

Sale reflects strong institutional investor demand and increasing investor focus on Georgia The EBRD has sold its 5% stake in Bank of Georgia Holdings Plc, the country’s largest bank. The 1,795,503 shares, representing the EBRD’s entire holding in Bank of Georgia, were sold in an Accelerated Bookbuild Offering launched after …

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Credit Investments of Georgian Commercial Banks Amount to GEL 11.1 Billion

In August 2014 , the volume of credit investments, including loans to non-residents,increased by  GEL 41. 4  million (0 4%) in comparison with the previous month and amounted to GEL 11.1 billion. In the same period, loans issued in the national currency increased by GEL 0.9 million (0, 02%), in the foreign currency – by GEL 40.4 million (0, 6%). According to the …

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Entry of German Investment in Georgia Hampered by Ministry of Economy

Ministry of Economy hampered the entry of German investment in Georgia. The government delayed the process of privatization of the land plot that has hindered the setting up of the processing enterprise. According to Director of the International Investments Coordination Center George Seturidze , due to the bureaucratic processes, it …

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