Main Department for Combating Corruption under the Prosecutor General of Azerbaijan has completed the investigation of the criminal case against Mugayis Verdiyev who did not pay 59,000 manat to individuals, from whom he bought building materials for the needs of the construction company Fagan Khidmet in the Goranboy region.
He is also charged with misappropriation 21,138 manat intended to pay 27 builders. Furthermore, the accused evaded the payment of taxes as an individual in the amount of 7,298 manats. Verdiyev is prosecuted under Art. 178.3.2 (fraud) and 179.3.2 and 213.1 (tax evasion) of the Criminal Code, and his arrest is recognized fair measure of restraint.
Materials of the case have been transferred to the Ganja Court on Grave Crimes. -17D-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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