SCIENCE AND EDUCATION


GERMAN DELEGATION VISITS AZERBAIJAN STATE ECONOMIC UNIVERSITY

A delegation of the Rectors Confederation of Higher Schools of Germany now staying Azerbaijan has visited Azerbaijan State Economic University. The delegation has been acquainted with up-to-date scientific laboratories created within the framework of the TASIS-TEMPUS program and works implemented for the last time. In the course of the meeting, the university’s teaching staff and German guests discussed in details the situation and prospects of co-operation between the two countries in higher education sphere.oil & gasOIL FUND PROCEEDS TO EXCEED THOSE OF PLANNED BY 20 PERCENTAccording to the State Oil Fund of Azerbaijan /SOFA/, the Fund’s proceeds in 2003 will be higher than it was foreseen.What allowed to make such a forecast is the unscheduled proceeds and, mainly, obtaining bonuses this year. For instance, in accordance with the agreement on enlargement of the block D-222 area (“Yalama”), signed on April 4 between SOCAR and “Lukoil”, the Russian side has transferred $48,6 million on Oil Fund’s account as a bonus.As is known, SOFA’s proceeds for 2003 was approved at the amount of 1219,5 billion AZM, while expenses - 1217,7 billion AZM. According to statistics for July 1, there are $780 million on the Fund’s account.The volume of SOFA’s proceeds for 2004 is much as in 2003.

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