By the decree "On measures to improve governance in the field of land reclamation and water management," the country's President has given himself the power of the reorganization and abolition of the Irrigation and Water Management of Azerbaijan JSC.
According to the document, the appointment and dismissal of the Chairman of the company is not the prerogative of the Cabinet, but the President personally.
The government has the authority to approve the charter and structure of the JSC, to determine the size of its share capital and development strategy, to appoint and dismiss deputy chairmen, approve annual reports and balance sheets, income and expenses, and to distribute profits.
The powers of the State Committee on Property Issues have been defined – it has the right to authorize the creation and elimination of departments, offices and branches, and the creation, reorganization and liquidation of its subsidiaries.
Three months have been given to the Cabinet of Ministers to execute the decree. --17D-
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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