By the resolution of the Cabinet of Ministers the authorized capital of CJSC Azerbaijan Caspian Shipping Company was increased by AZN 56 million 630.3 thousand from August 2. It has reached AZN 440 million 50.1 thousand.
The document (http://goo.gl/SxONld) does not reveal the reason for increasing the shipping company’s capital. However, we know that this year six bulk carriers have been purchased at the expense of public investment.
CJSC Azerbaijan Caspian Shipping Company was established in 2013 through the merger of the Azerbaijan State Caspian Shipping Company and the Caspian Sea Oil Fleet of SOCAR. -----08D
Economics
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Azerbaijan is witnessing a sharp contraction in its foreign trade turnover, with data for the first half of 2024 showing a significant 38% year-on-year decline. According to the State Statistics Committee, the nation's trade turnover from January to June 2024 amounted to $21.77 billion, a steep fall from $30.3 billion recorded during the same period in 2023.
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Elnur Aliyev, Advisor to the Minister of Science and Education, stated to journalists that a per capita financing system will be introduced in schools by the end of 2026: "This is currently a pilot project. It will be implemented in a group of schools. This year, the project will be launched in several schools."
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The Cabinet of Ministers of the Republic of Azerbaijan has adopted a resolution to approve the "Rules for the Transportation of Passengers, Luggage, and Cargo-Luggage by Rail Transport." This resolution, No. 352, was signed by Prime Minister Ali Asadov and aims to improve the efficiency and quality of railway transport services in the country.
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The Cabinet of Ministers of the Republic of Azerbaijan approved a series of amendments to the excise rates on excisable goods imported into the country on July 23. The changes, ratified on January 19, 2001, and coming into force 30 days from today, aim to align tax rates with current economic conditions and trade policies.
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