Until the end of this month the entire staff of the former State Oil Company of Azerbaijan headquarters will move to a new office on Heydar Aliyev Avenue, the SOCAR Tower.
And what will happen to the old office of the State Oil Company? Will this historic building be returned to the state or remain at SOCAR's balance sheet? The fact is that when Azerbaijan's oil industry was nationalized by the Russian communists in early May 1920, after the overthrow of the local authorities, the building was given to Azneft.
As it became known to Turan, Azneft (SOCAR’s mining entity, which is now based near the Narimanov subway station) will return to the old place. The production union rents the current office and pays a lot of money for that, the spokesman said. -12B--
Economics
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The Caspian International Investment Company JSC ended 2023 with a net loss of 557,000 manats, a significant improvement compared to the previous year, when losses were four times higher. The company's pre-tax losses for the year amounted to 264,000 manats, 11 times lower than in 2022, while income tax payments of 293,000 manats highlighted the efficiency achieved through strategic fiscal management.
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The 24th Republican Beekeeping Exhibition and Fair opened in Baku on Monday, with around 120 tons of honey products on sale. The event features the participation of 275 beekeepers from 39 districts across Azerbaijan and will run until September 29.
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BAKU, Sept 10 (Reuters) – The "Chain Reaction 2024" conference commenced in Baku on September 10, bringing together leaders and innovators from across the technology sector. Organized by FARI Solutions in collaboration with the Center for Analysis and Coordination of the Fourth Industrial Revolution and the Innovation and Digital Development Agency, the event is supported by Binance, the world's largest cryptocurrency exchange.
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The Azerbaijani government has amended its financing mechanism for higher education institutions, according to a decree issued by Prime Minister Ali Asadov on September 6. The changes update annual education costs for students in various academic levels and fields, including bachelor’s, master’s, medical, and doctoral programs, under state orders.
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