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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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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Turkey aims to achieve carbon neutrality by 2053, transforming key sectors of its economy in line with a vision of "net-zero emissions and green development," President Recep Tayyip Erdogan announced at COP29 in Baku on Monday.
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