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 is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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