Feb. 6
Azerbaijani Communications Ministry, cable operator sign agreement to introduce digital TV
Azerbaijani Communications and IT Ministry and cable television operator B&BTV signed a preliminary agreement to introduce digital television in Azerbaijan.
Under the contract, the work will be conducted jointly with the Teleradio production unit.
At present, Teleradio is already working in this direction by extending the coverage of the digital social package in the regions. Our company will provide the necessary support, provide backup equipment in case of the termination of analogue broadcasting and promote commercial channels throughout the country.
In order to assess the technical readiness of the infrastructure in the regions and the community's preparedness for transition to digital broadcasting, B&BTV Communications hired a consultancy firm, system integrator Hannu Pro (Latvia). It participated in creating a network of digital DVB-T standards in Latvia and Bulgaria. The Latvian company creates the necessary infrastructure for the functioning of terrestrial digital television.
Feb.7
Electronic registration in Azerbaijan reduces procedures
An electronic register of firms will be implemented in two ways in Azerbaijan - fast and normal, the head of the main directorate for the organisation of state registration of commercial entities and economic analysis of the Ministry of Taxes Natig Shirinov said at the presentation of the e-State registration.
"Two laws and two codes were amended with regard to the start of the new system. Thus, the e-check will not pass non-payment of a registration fee or no notarisation of the application and or pre-paid of share capital. The Code of Administrative Violations provides the application of a penalty to individuals (700 manat) and professionals (4000 manat) in order to prevent the provision of incorrect data to the Ministry of Taxes," Mr Shirinov said.
Mr Shirinov noted that fast electronic registration is possible if only one person is in charge. In this case, the applicant should enter personal data, the head appointed, the area of social activity and the necessary data for registration of legal persons to the registration authority then applying an electronic signature.
"Thus, the use of electronic registration will reduce the number of procedures from six to three and required documents from seven to two. The registration process will require not three days anymore, but only a few minutes" Mr Shirinov said.
He said, if there is more than one founder, then the usual method of electronic registration must be selected. That may take from 20 minutes to three days.
Azerbaijan allocates funds to construct Friendship Park in Sarajevo
The Azerbaijani cabinet of ministers ordered to allocate 408,259 euro in manat equivalent from the Reserve fund of the state budget for 2012 to the Ministry of Foreign Affairs (MFA) to complete construction and repair of Friendship Park and complex of monuments in Sarajevo (Bosnia and Herzegovina), the text of the order said.
Taking into account importance of the immediate start of this work and its completion as soon as possible, the MFA got a right to sign directly contracts with designers and construction contractors. The Finance Ministry is instructed to ensure payment of these funds. The order comes into force from the day of signing on Feb.2.
Earlier, in accordance with the order dated Dec.19, 2011 the Azerbaijani cabinet of ministers allocated 408,564 euro to the MFA from the Reserve fund of the state budget for 2011 to construct Friendship Bridge over Dobrinya river in Sarajevo.
Azerbaijani postal operator launches money transfer system to Ukraine
Azerbaijan's Azerpoct postal operator is launching a money transfer system to Ukraine using a STEFI system of money transfers, the Ministry of Communications and Information Technologies of Azerbaijan said.
It is expected the system will be commissioned in March, the Ministry said.
The use STEFI system will allow the Azerbaijani postal operator to offer two types of services for money transfers, a traditional form taking three days and urgent transfers only three hours.
The STEFI system is designed by the Postal Technology Centre of the Universal Postal Union and enables the switch from paper exchange of international money transfers to electronic.
Legal documents on the use of remittances have already been signed with Ukraine. A similar document was signed with Belarus as well.
Plans for the postal operator include the use of STEFI to five countries. The main Azerbaijan money transfer traffic is towards in Russia, Ukraine, Belarus and Kazakhstan at the moment.
Security of tourists in Azerbaijan to be ensured by new methods
Security of tourists in Azerbaijan will be ensured at higher level and by new methods and means, the ministry of culture and tourism said.
In accordance with a new bill "On tourism", tourists will get medical insurance and will be insured against accidents, the ministry said. This question will be solved in accordance with the contract signed between tourism organizations and insurance companies. Payment of compensations for damage and harm caused to life, health or property of a tourist, will be carried out in accordance with current legislation on insurance.
According to the project, the government will ensure security of tourists in Azerbaijan.
Tourism organizations have to take several measures to ensure security of tourists. During the trips tourism companies should sufficiently inform tourist on potential dangers, create for them safe conditions at recreation centers, equip with necessary means places of their walks, excursions and sport events.
Moreover, tourists should be informed on nature of route and on dangers which may occur because of the behavior of tourists themselves.
During the trip tourist is responsible for problems which occurred as a result of non-fulfillment of terms and obligations of the contract. Tourists will be responsible also for illegal acts committed in places of temporary residence (country of temporary residence).
New bill "On tourism" was presented for public discussion on Feb.6. Companies engaged in tourism activities may make their proposals and express their opinions within 20 days.
Azerbaijan starts on-line payment of taxes and state fees
On-line payment of taxes and state fees has started in Azerbaijan today, Azerbaijani Deputy Minister of Taxes Sahib Alakbarov told media.
"According to the Minister of Taxes, Fazil Mammadov's order of on-line payment of taxes and state fees has begun today," he said. "It will also be possible to make payments via mobile phones in the future."
He said that taxpayers can get all the necessary information on the ministerial website.
Azerbaijan becomes permanent member of UN COPUOS
Azerbaijan has become a permanent member of the scientific-technical subcommittee of the UN Committee on the Peaceful Uses of Outer Space (COPUOS), the Ministry of Communication and Information Technologies of Azerbaijan reported.
Resolution 66/71 on the membership of Azerbaijan in the COPUOS was approved on January 12.
Previously, Azerbaijan had an observer status in the COPUOS.
Cessation of Azerbaijani gas supply to Turkey does not create problems in country
Temporary cessation of Azerbaijani gas supply to Turkey hasn't created problems in the country, Samanyolu Hаber TV Channel quotes Turkish Minister of Energy and Natural Resources Taner Yildiz as saying.
Gas supply was reduced due to cessation of gas production at Shah Deniz platform by one seventh, he said.
Azerbaijan has suspended gas supply to Georgia and Turkey via the South Caucasus gas pipeline due to technical problems on a platform located at the Shah Deniz field, a source in oil and gas market said.
Feb.8
Basic tools for corporate repo transactions defined in Azerbaijan
The Azerbaijani Mortgage Fund's bonds will be the basic tool for corporate repo transactions on the Baku Stock Exchange (BSE), Chairman Emin Aliyev said.
The introduction of repo transactions in corporate securities is one of the most important challenges facing the BSE in 2012. Almost all of the stock exchange infrastructure, especially the trading system, has been prepared, Mr Aliyev said. He said the BSE's internal rules are being developed and technical issues related to introducing this new tool are being solved.
"Overall, we hope that with the growth of the corporate bond market, repo transactions will also show positive dynamics," he said.
Until now, repo and reverse repo transactions were carried out with the Central Bank of Azerbaijan's (CBA) notes. However, under new rules, securities market participants will conduct repo transactions on corporate bonds.
This type of tool is provided for portfolio investors to solve problems with short-term liquidity
"We receive many signals from the financial sector, which give us the confidence to say that the money market, which is a very popular segment, will become more advanced with the introduction of repo transactions with corporate securities," Mr Aliyev said.
Azerbaijan introduces 'safe online education' service
AzEduNet has launched the new "Safe online education" service.
It is now available for students, teachers and everyone who works in the education sector. AzEduNet offers two types of connection to the educational network -- wireless WiMAX and a steady ADSL2 connection.
Using this service, users get direct access to the educational network, the services of the network and educational resources. The users are also provided filtered access to the Internet.
Kulevi terminal recognized best in infrastructure
Black Sea Terminal LLC has been awarded with the Diploma of "The Oil and Oil Product's Transshipment Marine Terminal with the Best Infrastructure" at the awarding ceremony, organized by the Union of Oil Products' Producers, Importers and Consumers of Georgia in Tbilisi.
It should be noted that the Terminal has been winning this nomination four years in a row. This has been achieved through hard work, high discipline and great responsibility shown by BST staff.
BP restores gas production at Shah Deniz field in Azerbaijan
BP Company restored natural gas production at Shah Deniz field which was suspended previously, the company said.
During the day it will be brought to normal level. Before the platform's suspension the production volume at the field amounted to 25 million cubic meters of gas per day. Export of gas to Turkey and Georgia is also being restored.
Earlier, BP has completed all scheduled work on the platform of Shah Deniz gas-condensate field and prepares to open wells, the company said.
On Feb.7, Azerbaijan suspended gas supply to Georgia and Turkey via the South Caucasus gas pipeline due to technical problems on a platform.
Feb.9
Azerbaijani president increases SOFAZ expenditure for 2012
The amendments to the budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2012 were approved by a decree under Azerbaijani President Ilham Aliyev.
According to the decree, SOFAZ expenditures increased to 10.751.304 billion manat compared to the previously approved of 10.561.304 billion manat to ensure timely implementation of measures related to social issues and placement of refugees and homeless people.
According to the budget, SOFAZ revenues for 2012 were approved at 10.697.030.6 billion manat.
Azerbaijan aims to create favourable tax administration
The Ministry of Taxes of Azerbaijan is aiming to create the most convenient and profitable tax administration for business people, the Minister of Taxes Fazil Mammadov said at the'Tax System in Azerbaijan: realities and perspectives' forum in Baku.
"There are a number of promotions in this area. Time spent on preparation and submission of tax returns, including the implementation of tax payments in Azerbaijan is ahead when you compare the same figure in Central Asia, Eastern Europe and the world on average," Mr Mammadov said.
SOFAZ announces assets sale within PSA contracts
SOFAZ has announced the sale of assets delivered by foreign oil companies within production sharing contracts (PSA).
The assets include welding equipment, pipes, electrical cables, and spare parts used in oil and gas well drilling and insulation materials and other assets.
Azerbaijan renews criteria for suspicious transactions to be monitored
Special indicators for transactions subject to monitoring were renewed to improve the national system in counteracting the law on money or other property obtained in a criminal way and the financing of terrorism in Azerbaijan. This will take into account the proposals for monitoring and international experience, the Financial Monitoring Service under the Central Bank of Azerbaijan (CBA) said.
The criteria (specific indicators) of determining the facts that give rise to doubts in connection with money or other property obtained via a criminal way and the financing of terrorism have been prepared on the basis of the provisions of the Financial Monitoring Service. They were approved on December 30, 2011.
Turkish Is Bankasi decides to create two banks in Azerbaijan
Management of the Turkish Bank Is Bankasi decided to buy a bank already operating in Azerbaijan or create a new one, the bank said.
"We haven't yet decided on a local bank we are going to buy, that's why we haven't yet submitted an official appeal to the Central Bank of Azerbaijan to get permission. However we have already made a decision on this issue," the bank said.
At the same time Is Bankasi has already appealed to the CBA to get permission to open a branch.
Azerbaijani central bank determines direction of non-cash payments up to 2017
The Central Bank of Azerbaijan (CBA) has completed preparation of the project of state program on development of the country's non-cash payments in 2012-2016, head of Payment Systems of the CBA Kamala Gurbanova said at "Azerbaijan's tax system: realities and prospects" forum.
"The CBA elaborated a new state program for 5 years aimed at expanding coverage of electronic services," Ms Gurbanova said.
Feb.10
Four WTO members agree to hold bilateral talks with Azerbaijan
The Azerbaijani government has received approval from four countries to hold bilateral negotiations in Geneva in February as part of the process of joining the World Trade Organisation (WTO), the head of the negotiating group, deputy foreign minister Mahmud Mammadguliyev said.
"The U.S, EU, Canada and Ecuador are among them, but Norway and Japan are also likely to join the talks," Mr Mammadguliyev said.
The bilateral talks will be held within the IX round of multilateral talks scheduled for Feb.24.
The last meeting (VIII round of multilateral talks) was held in Geneva on Oct.18, 2010 and bilateral meetings on issues of trade and services were held with the U.S., the EU, Canada, Japan, Norway, Switzerland, Chinese province of Taiwan and the WTO other members on Oct.19-22, 2010.
32 schools join e-school project in Azerbaijan
About 32 schools are to join the e-School project in Azerbaijan.
Today the main task is to provide every classroom with at least one computer with internet access. This will simplify the process of completing the e-journal. The schools participating in the project are provided with all the necessary equipment.
Fitch assigns SOCAR's USD notes final senior unsecured 'BBB-' Rating
Fitch Ratings has assigned State Oil Company of the Azerbaijan Republic's (SOCAR) $500m 5.45% notes due 9 February 2017 a final foreign currency senior unsecured rating of 'BBB-', in line with SOCAR's Long-term Issuer Default Rating (IDR) of ('BBB-'/Stable), the company said.
E-audit to start on banking sector in Azerbaijan
The Azerbaijani Tax Ministry has prepared a bill that will ensure a legal basis to introduce e-audits in the country, official Asaf Asadov said at the forum "Tax System in Azerbaijan: realities and perspectives" in Baku.
"The ministry has prepared a bill together with international experts to create a legal base for an electronic audit. The five rounds of discussions were held at the ministry. The experts from other ministries and state agencies were attracted at the last round of
discussions. This month, we plan to submit the draft to the Cabinet of Ministers."
Azerbaijani Taxes Ministry supports revision of income tax rate
Income tax rate in Azerbaijan may be revised since it, according to held calculations, doesn't affect significantly revenues of the state budget, Minister of Taxes Fazil Mammadov said during his speech at forum entitled "Tax system of Azerbaijan: realities and prospects".
At present, the income tax rate in the country is 14 per cent with the monthly income of 2,000 manat, while the upper limit of the tax rate reaches 30 percent.
Mr Mammadov said the average monthly income at the level of 2,000 manat is a stable indicator, so the rate of 14 per cent is considered an acceptable level.
From the January 1, 2010 the maximum income tax for wage earners declined from 35 percent to 30 percent, and for individuals engaged in entrepreneurial activities without establishing a legal entity - from 35 percent to 20 percent.
Overture Financial proposes Azerbaijan to transfer 3 percent of social deductions for real accumulation
The transfer of some social deductions on the actual accumulation will allow getting additional revenues and increase the amount of pensions in Azerbaijan, the president of the U.S company Overture Financial Mohammad Baki said at a presentation on "pension - insurance system in Azerbaijan in 2020: a look into the future, the results of actuarial studies" in Baku.
"The transfer of 3 percent on a real accumulation during 20 years will increase the pension by 5 percent, within 40 years - by 10 percent," he said.
He said that the deductions may begin in 2015. This will hit about 190 million manat per year.
Azerbaijani President introduces bank board candidates
The parliamentary committee on economic policy has today introduced the candidates for members of the Central Bank of Azerbaijan (CBA) to be approved at the plenary session of Parliament.
Azerbaijani President Ilham Aliyev introduced the candidacy of Alim Guliyev to the post of the first deputy chairman and Aftandil Babaev and Vadim Khubanov to the posts of deputy chaiman.
The chairman of the Parliamentary Committee Ziyad Samadzade said these people have made a great contribution to the development of the country's banking system.