More than 2,400 employees of the pharmaceutical company Riyad Farm have remained without a salary for three months.
The reason is that its President, Hassan Sharifov and Executive Director Adil Guliyev are accused of embezzling $ 200 million in a loan taken from the International Bank of Azerbaijan. A few days ago they were detained by the Office of Fight against Organized Crime of the Ministry of Internal Affairs. However, the official leadership of the agency is figurehead, and in fact the company belongs to a cousin of the President, Ilgar Aliyev.
Pharmacies attached to Riyad Farm have also closed. Turan IA’s appeals to the leadership of the organization remained unanswered.
Recall, recently the Ministry of Taxes has published a list of debtors in this segment. This agency has appeared in the black list of tax officers for the first time. --17D-
Economics
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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At the COP29 event titled "Climate Finance Landscape in the South Caucasus and Central Asia" held on November 14, Roland Price, Regional Director of the World Bank for the South Caucasus, highlighted the substantial economic and environmental damage faced by the countries of the South Caucasus, which she estimated at around $100 million annually.
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SOCAR Green, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), has signed a series of agreements at the COP29 summit aimed at bolstering the development of renewable energy sources, enhancing energy efficiency, and promoting sustainable growth in Azerbaijan.
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The Islamic Development Bank (IsDB) is stepping up its efforts to mobilize Islamic banking resources in the fight against climate change, President of the IDB Muhammad Sulaiman Al Jasser said on Thursday during a roundtable at COP29.
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