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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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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