Tag Archives: Azerbaijan

Railway construction delayed, says Azerbaijan Railways chief

JUNE 13 2016 (The Conway Bulletin) – Azerbaijan Railways chief Javid Gurbanov said that the construction of the Baku-Tbilisi-Kars railway connection has been delayed by adverse weather conditions, but is on track to be completed by the end of the year. Georgia has already completed the section that will cross its territory. The Turkish government also confirmed that it plans to complete its section by the end of 2016. The original timeline of the project, started in 2007,scheduled its completion for 2010.

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(News report from Issue No. 285, published on June 17 2016)

Editorial: Azeri sport sponsorship

JUNE 17 2016 (The Conway Bulletin) -Viewers watching the UEFA European football championships in France will have noticed, it’s impossible not to, SOCAR sponsorship rolling across the advertising hoarding on the side of the pitch.

Even in a recession, SOCAR, Azerbaijan’s state-owned energy company, finds the cash to sponsor a major sporting event. This weekend, too, Baku hosts its inaugural Formula 1 Grand Prix. Last summer the city hosted the first European Games.

The total bill for these lavish affairs is likely to run to the billions of dollars. Of course the advertising has raised Azerbaijan’s profile but to what end? SOCAR doesn’t need to become a household name in Europe; athletics and motorsport are hardly integral to the Azerbaijani national character.

Most of these sporting deals would have been organised before the collapse in oil prices that has pressured Azerbaijan’s economy, tipped it into recession and squeezed jobs. Ordinary Azerbaijanis are not having a good time, as shown by nationwide protests earlier this year. Signs of resentment are being more easily picked up.

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(Editorial from Issue No. 285, published on June 17 2016)

Azerbaijan to launch ferrosilicon plant

JUNE 15 2016 (The Conway Bulletin) – Azerbaijan’s state-owned Baku Non-Ferrous Metals & Ferroalloys Company said it will launch in 2017 a new plant for the production of ferrosilicon and ferrosilicon manganese, two ferroalloys used in the heavy industry. The plant will be located at the Sumgayit Chemical Industrial Park outside of Baku.

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(News report from Issue No. 285, published on June 17 2016)

International Bank of Azerbaijan issues loan to Iran

JUNE 12 2016 (The Conway Bulletin) – International Bank of Azerbaijan, the country’s largest lender, will issue a $500m loan to Iran for the construction of the Rasht-Astara railway section, part of a rail link from Qazvin to Astara, around the southern shore of the Caspian Sea. The total cost of the Rasht-Astara segment is projected to be $1.1b. The countries of the South Caucasus have been quick to engage Iran in business since sanctions were lifted earlier this year.

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(News report from Issue No. 285, published on June 17 2016)

Azerbaijan’s SOCAR becomes EURO sponsor

JUNE 10 2016 (The Conway Bulletin) – SOCAR, Azerbaijan’s state-owned energy company, is a major sponsor of the UEFA Euro 2016 football tournament currently taking place in France. Neither SOCAR, nor UEFA disclosed the amount paid for the sponsorship, although local media outlets have said it is around 120m manat ($80m).Azerbaijan’s government had previously sponsored Spain’s Atletico Madrid and England’s Sheffield Wednesday.

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(News report from Issue No. 285, published on June 17 2016)

Newspaper risks closure in Azerbaijan

JUNE 14 2016 (The Conway Bulletin) – The editors of Azadlig, an opposition newspaper in Azerbaijan, said they had received a letter from their publisher that warned of a possible closure by the end of the month. Azadlig, which means freedom, has to pay an outstanding debt of around 18,000 manat ($12,500) by June 27. Azadlig editors said that the state-owned press agency owes the newspaper around 70,000 manat ($46,000) and that this is an attempt to silence opposition voices.

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(News report from Issue No. 285, published on June 17 2016)

Azerbaijan readies for first F1 race

JUNE 16 2016 (The Conway Bulletin) – Azerbaijan hosts its first Formula 1 Grand Prix in Baku on June 17-19, a race that an estimated 350m people will watch on TV around the world.

President Ilham Aliyev hopes that the race will give Azerbaijan’s profile a major boost, but human rights campaigners are also using it as an opportunity to highlight its poor human rights record.

The newly-built Baku Circuit, a 6km circuit through the city’s historical centre, is fast, allowing cars to hit speeds of up to 340km per hour, making it the fastest street track in the world, according to the organisers.

Spanish driver Fernando Alonso said that it was a unique circuit.

“It’s good both for drivers and in terms of the show for spectators,” he told the formula1.com website.

But in the host city, few Azerbaijanis share his excitement.

With oil prices down, Azerbaijan, which depends on income from oil and gas exports, is predicted to drop into a recession this year.

Official data has not been released but Radio Free Europe/Radio Liberty has estimated that the authorities have spent $250m on hosting the F1 race — roughly half the annual healthcare budget.

Locals said the Azerbaijani government should be concentrating on improving the country’s economy.

Bahruz, a 21-year old student in Baku, told the Conway Bulletin’s Azerbaijan correspondent that unemployment has been rising fast.

“Formula 1 is a waste of money. It just serves the government to build an image as a sport-loving country,” he said.

Mr Aliyev appears to have decided to promote Azerbaijan through hosting sports events and sponsoring teams. Azerbaijan had sponsored the team shirt of Atletico Madrid football club, sponsors the European football championship in France and last year hosted the first European Games.

Azerbaijan released several journalists and rights campaigners from prison this year but Rebecca Vincent, head of the Sport for Rights Campaign and a human rights activist said Mr Aliyev was trying to whitewash his government.

“Viewers should not be fooled. The smoke and mirrors distract from a more sinister truth,” she said. “A brutal human rights crackdown taking place behind the scenes.”

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(News report from Issue No. 285, published on June 17 2016)

Azerbaijan makes bank deal with Iran

JUNE 14 2016 (The Conway Bulletin) – Azerbaijan and Iran will launch their first joint bank next year, the countries’ central bankers told media. Elman Rustamov, Azerbaijan’s Central Bank chief, visited his Iranian counterpart Valiollah Seif in Tehran. Both laid the groundwork for the establishment of a new bank, a sign of the growing cooperation in the financial sector.

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(News report from Issue No. 285, published on June 17 2016)

Armenian and Azerbaijani leaders to talk N-K

JUNE 14 2016 (The Conway Bulletin) – Armenian president Serzh Sargsyan and Azerbaijani president Ilham Aliyev will meet for talks on the disputed region of Nagorno-Karabakh in St Petersburg on June 20, a Kremlin spokesman said. Russian president Vladimir Putin will also host the talks. His presence increases the chances that a meaningful deal may be drawn up.

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(News report from Issue No. 285, published on June 17 2016)

Azerbaijan’s energy company profits in Romania

JUNE 6 2016 (The Conway Bulletin) — Azerbaijan’s state-owned energy company SOCAR said its Romanian subsidiary SOCAR Petroleum made a profit in 2015 for the first time since 2011 despite a fall in revenues. SOCAR Petroleum owns several filling stations across Romania. Low oil prices reduced total revenue at SOCAR Petroleum but also gave it a higher profit margin on sales.

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(News report from Issue No. 284, published on June 10 2016)