Windows 7 will be available in Azerbaijani language

Windows 7 will be available in Azerbaijani language

Microsoft Azerbaijan Company has launched localization of operational system Windows 7 into the Azerbaijani language, the company said.

Windows 7 will be presented at a stand of Microsoft Azerbaijan during the Azerbaijani international exhibition BakuTel-2009, Microsoft Azerbaijan director general Teymur Akhundov said.

Windows 7 was created during close cooperation of Microsoft engineers and designers with end users. They shared their thoughts over operation system with each other.

First, Windows 7 was demonstrated at the conference of Microsoft developers on Oct. 28, 2008.

A new taskbar appeared in Windows 7. It was not rather changed since appearing of Windows 95. Windows 7 was seriously changed.

There are many new opportunities connected with naturalization of user's interface in Windows 7. Microsoft provided support of multi-touch technology in a new operational system.

There is also XP regime in Windows 7 Professional and Windows 7 Ultimate.

This regime ensures operation with applications not update specially for new operational systems.

Users have opportunity to choose among several releases of Windows 7. They are the following: Windows 7 Starter, Windows 7 Home Basic, Windows 7 Home Premium, Windows 7 Professional, Windows 7 Ultimate. Corporative users concluded the Enterprise Agreement with Microsoft, will be able to install expanded version of Windows 7 Enterprise.

Azerbaijan's Central Bank will be participant of Organized Interbank Credit Market

Azerbaijan's Central Bank will be participant of Organized Interbank Credit Market

The Baku Interbank Currency Exchange (BBVB) has announced a new stage in development of Organized Interbank Credit Market (OICM) operating in its e-trading system BEST.

BBVB reports that on Oct. 21 the Central Bank of Azerbaijan, BBVB and a range of market-makers (Azerdemiryolbank, ?GBank, investment & commercial bank Nikoil, Bank Standard, Pashabank, Unibank and Bank of Baku) signed an agreement that is a legal base for new segment of the money market.

The agreement contains mechanism of CBA participation in it that will allow diminishing essentially credit and estimated risks.

“Due to reduction of risks the money market should increase its liquidity. In its turn, the Azerbaijan’s financial market that bases itself first of all on Azeri manat will receive a new impulse in development,” it was reported.

The initiative of creation of new segment of the money market and mechanism of CBA’s involvement in it was suggested by the Exchange and the market makers.

“For a range of causes the global financial crisis made funding hard-to-reach for developing countries’ banks.

The issue of fast formation of internal reliable high-liquid money market has activated much. The CBA and BBVB develop purposefully OICM operating in the country since March 2002 as a BEST BBVB segment.

For the purpose of further money market development a range of commercial banks and BBVB reached in 2005 an agreement that allowed creation of the institute of market-making of the money market. By the present quantity of market maker banks reached 10.

The market maker banks place daily their orders in BEST to raise and place credit resources in both national and foreign currency, thereby forming money market indicators (BakiBID, BakiBOR). The CBA and the money market-makers undertake joint efforts aimed at developing the money market based on national currency,” it was reported.

Besides, the banks which signed the agreement with the CBA, the market-makers are also Bank Respublika, AtaBank and Kapital Bank. BakIBID - Baku Interbank Bid Rate (rate of raising), BakIBOR - Baku Interbank Offer Rate (rate of placement).

Turkey will buy Azerbaijani gas at a new price

Turkey will buy Azerbaijani gas at a new price

Turkey will pay the difference between the old price it has paid for Azerbaijani gas since April 2008 after the gas agreement expired and the new price to be agreed on with Azerbaijan, said Turkish Energy Minister Taner Yilldiz.

He said Turkey has continued to import natural gas from Azerbaijan although the gas supply agreement expired in April 2008.

"Today we no longer buy low-priced gas from Azerbaijan. In accordance with the new price to be agreed upon, we will pay the difference", he said, adding that Turkey is continuing talks with Azerbaijan’s SOCAR on natural gas, and hopes to reach an agreement soon.

Turkish media report that Turkey will have to pay at least $1.1 billion to Azerbaijan as price difference compensation if the new gas price is around $250 per 1,000 cubic meters, compared to the current price of $120.

EBRD releases forecast for economic growth in Azerbaijan in 2010

EBRD releases forecast for economic growth in Azerbaijan in 2010

Growth of the Azerbaijani economy in 2010 is expected to reach 7.1 percent, said the statement of the European Bank for Reconstruction and Development (EBRD).

According to the chief economist of the Bank, Anita Taci, the main indicators of the expected growth of economic development is caused by the growing prices worldwide and demand for oil exports.

Experts of the bank say that the economies of Central and Eastern Europe after the sharp decline in production in the first half of 2009 are expected to increase by an average of 6.3 percent.

The Bank believes that the financial systems of Azerbaijan, Mongolia, Turkmenistan and Uzbekistan were less affected by the crisis.