Commercial Bank OJSC Bank VTB (Azerbaycan) is to increase the share capital.
According to the Baku Stock Exchange (BSE), the relevant prospectus for 135 million ordinary registered uncertificated shares of nominal value of AZN 0.2 was registered by the State Committee for Securities.
Placement of new shares will be held by the mass subscription at the BSE. As underwriter of the shares, Ltd. Brokdil-az will perform.
Russian Bank VTB acquired a 51% stake in Azerbaijan AF Bank and did re-branding in 2008. - 15D -
Economics
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The payment method used in Baku's public buses, which operates via a mobile phone app and QR code activated by the M10 program, creates difficulties for passengers, economist Samir Aliyev stated on Facebook.
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Starting next year, the Azerbaijani government will adopt a new policy towards entrepreneurs who export domestic products abroad but fail to return a portion of their earnings to the country. This issue often concerns Azerbaijani tomatoes sold in Russia. According to National Bank Chairman Taleh Kazimov, decisions to penalize such entrepreneurs will no longer be made without a thorough investigation into the reasons behind the failure to repatriate earnings.
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The Cabinet of Ministers of Azerbaijan has approved a new Unified Tariff Schedule to determine the monthly salaries of public sector employees financed through the state budget. This decision, outlined in Decree No. 540, comes into effect on December 26, 2024, and is aimed at standardizing wages in the public sector.
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On December 27, Azerbaijani President Ilham Aliyev has signed a decree to dissolve the Azerbaijan Industrial Corporation (ASK) and transfer its key assets to the Azerbaijan Investment Holding (AIH), marking a significant step in streamlining the management of state-owned enterprises. The decision, effective immediately, aims to address regulatory issues and enhance operational efficiency.
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