The Financial Markets Supervision House registered an additional issue of shares of the state company Azerishig (state monopoly of the electricity network) on December 6. A total of 131 million 50 thousand new shares with par value of AZN 2 each were issued.
In February this year the Cabinet of Ministers increased the authorized capital of JSC Azerishig from 623 million 533.5 thousand manat to 855 million 633.5 thousand manat. The current issue of securities is a belated fulfillment of the government regulations.
The source of the increase of the authorized capital of state companies is public investment. -----08D
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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