On January 18, the closure of the Azerbaijani branch of the company Champion Technologies Russia & Caspian BV (https://goo.gl/lpmv2M) was announced. This company operated in Baku since 2004 and represented a wide range of specialized reagents, as well as provided technical solutions to problems encountered in the oil and gas industry. The founder of this company was a Texas company CS-US Holdings, Inc (USA).
The Turkish company Seha that had 23 years of experience in Azerbaijan for the sale of electrical products and electrical equipment also closed. The owner of this company Bahri Tupuz (https://goo.gl/7Gleqy) has been accused of having links with Hizmet Movement announced in Turkey as a terrorist organization.
The company Nil Kitap Kirtasiye Sanayi Ltd. Sti that celebrated the 20th anniversary of its activity in Azerbaijan in 2016 is also said to be in touch with the movement Hizmet. It announced today the transformation and change of name to LLC Axent Kirtasiye. The company has a network of stores selling stationery. ---08B
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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