JSC Azerbaijan Credit Bank increased its authorized capital by 4.4 times to 50 million 181.38 thousand manat, which complies with the regulatory requirements of the CBA for capitalization.
According to the report, the placement of additional shares amounting to 38 million 752 thousand manat was completed yesterday. The emission is divided into 173 thousand shares with par value of 224 manat per security.
JSC Azerbaijan Credit Bank received a license to operate in December 2005. Shareholders of the bank are a group of individuals. --17D-
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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