The Deposit Guarantee Fund has compensated depositors of 10 closed banks 721,057,000 manat, the Fund said in a statement. The specification is as follows:
Para Bank - AZN 42 million 914 thousand (98% of the total amount of the due compensation), Zamin Bank – AZN 52 million 421 thousand (72%), Credo Bank – AZN 27 million 770 thousand (98%), Deka Bank – AZN 3 million 022 thousand (96%), Atra Bank – AZN 14 million 269 thousand (97%), Qafqaz Inkishaf Bank – AZN 1 million 974 thousand (92%), Bank of Azerbaijan – AZN 24 million 148 thousand (97%), Ganja Bank – AZN 976,000 (94%), Tekhnika Bank – AZN 120 million 080 thousand (98%), and Bank Standard – AZN 433 million 483 thousand (98%). -----71D
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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