CESD Drives Corporate Social Responsibility to the Country Agenda

CESD Drives Corporate Social Responsibility to the Country Agenda Center for Economic and Social Development (CESD) has organized a discussion panel with experts on Corporate Social Responsibility (CSR) in Azerbaijan with funding of Konrad-Adenauer-Stiftung. It was noted at the discussion that rapid economic growth influenced the attitude of large and medium businesses to CSR.  Mostly, companies do not approach CSR as part of a management strategy. Any activity on social policy... Read More

CESD Recommendations Approved

CESD Recommendations Approved Azerbaijan Government approved rules for forming customs information systems based on CESD recommendations developed and submitted to the Cabinet of Ministers on February 23, 2012. Recommendations were developed under title of simplification of procedures and increasing transparency in customs sphere. Cabinet of Ministers of Azerbaijan has approved rules for use of information systems, information technologies and their provision means in customs... Read More

OPEC expects Azerbaijan’s oil production at 0.96 mln bpd

OPEC expects Azerbaijan’s oil production at 0.96 mln bpd Azerbaijan’s oil production will remain steady at 0.96 million barrels per day (bpd) in 2012 and 2013, OPEC’s August oil market report says. According to OPEC forecasts, the country’s oil production will amount to 0.96 million bpd in the third quarter and 0.99 million bpd in the fourth quarter of 2012 compared to 0.92 million bpd in the second quarter of this year. The highest level of Azerbaijan’s... Read More

Will Azerbaijan may buy share in Nabucco West?

Will Azerbaijan may buy share in Nabucco West? The statement came from executive director of Austria’s OMV company, the shareholder  of the project, Gerhard Roiss. The representative of the company noted that we can also become part of the Nabucco producing countries. “The membership group must be changed for the development of the Nabucco West project”. news.az  Read More

CESD became official partner of IPI International Conference

CESD became official partner of IPI International Conference CESD became an official partner of the IPI International Conference that will take place from September 17-19, 2012 in Baku. A list of partners is available at: http://www.ipioilgasmedia2012.com/2012/partners.html The conference, organised by the International Press Institute (IPI), is a groundbreaking event which will bring together leading oil and gas journalists, financial and business reporters, and major oil and... Read More

SOCAR oil production dropped by 3 %

SOCAR oil production dropped by 3 % The State Oil Company of Azerbaijan produced 4.79 million ton of oil in January-July of this year. The statement came from CESD sources at SOCAR.  Oil production has dropped by 3% from the same period of the last year. SOCAR production made 706,6 thousand ton in January, 660,9 thousand ton in February, 660,9 thousand ton in March, 684,3 thousand ton in April, 700,9 thousand ton in May,678,5 thousand ton in June, and 700,9 thousand ton in July. Oil... Read More

Banking sector in Azerbaijan; from bankruptcy to regression?

Banking sector in Azerbaijan; from bankruptcy to regression? “There is not any case in the foreign experience that a minimum requirement for authorized capital is increased by five times”, said in an interview with “Echo” the chairman of the Center for Economic and Social Development Vugar Bayramov . In this regard, in his opinion, this is a serious administrative decision, despite the fact that it will enter into force on January 1, 2014. It is reminded here that... Read More

Azerenergy places shares on Baku Stock Exchange starts

Azerenergy places shares on Baku Stock Exchange starts Placement of ordinary registered shares of JSC Azerenergy (production and distribution of electricity in the country) on Baku Stock Exchange (BSE) will start from September 5, issued by the total amount of 200.46 million manat, the BSE said. Some 10.023 million shares at par value of 20 manat each have been issued within the prospectus. Thus, the company’s share capital will increase from 1.56 billion manat to 1.76 billion... Read More

Central Bank of Azerbaijan Moves to Strict Measures

Central Bank of Azerbaijan Moves to Strict Methods Central Bank of Azerbaijan (CBA) applies harden requirement in banking sector after bankruptcy of Royal Bank, one of top banks in Azerbaijan.  CBA increased up amount of minimum volume of total capital for to AZN 50 million ($ 64,1 million) from AZN 10 million ($  12,4 million) . The new standard on the minimum volume of total capital comes into force from 01 January 2014, the Central Bank. “This decision will not result on... Read More

Prominent Russian Investigative Journalist to Speak at IPI Oil, Gas & Media Conference

Prominent Russian Investigative Journalist to Speak at IPI Oil, Gas & Media Conference Former Prisoner of Conscience Grigory Pasko Joins Top Line-up of Panellists in Baku, Azerbaijan A former officer of the Russian Navy, Grigory Pasko is the founding editor of Ecology and Law, a quarterly magazine on environmental and citizens’ rights, and currently the director of the Foundation for Investigative Journalism – Foundation 19/29 (Russia). Pasko, who worked as an investigative... Read More