The decision of the State Committee for Securities (http://huquqiaktlar.gov.az/StatementDetails.aspx?statementId=32034) eliminated the "Rules to eliminate violations of the law on the securities market and monitoring of the Investor Protection "operating since November 2000.
The decision was taken on December 19 and came into force on 30 December.
As a rule, in the implementation of measures to restore the rights of investors SCS was guided by this document. From now on, the agency in the exercise of its powers for the protection of investors' rights must be guided by the Law "On regulation of inspections in entrepreneurship and protect the interests of entrepreneurs" (entered into force on 29 August 2013), as well as the Law "On Protection of the rights of investors in the market securities "(26 October 2000).
In January-November 2014 SCS penalized 353 businesses for violations of the rights of investors, the total size of which amounted to 432.5 thousand manat, which is 2.7 times more than in the same period in 2013 .-- 08B -
Economics
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Azerbaijan's industrial output from January to August 2024 reached 42.4 billion manats, driven by contributions from both industrial enterprises and individual entrepreneurs. However, despite this robust performance, shifts within key sectors highlight the evolving dynamics of the nation's economy.
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Azerbaijan, despite its larger natural and labor resources, is trailing behind its smaller neighbors Georgia and Armenia in banking sector development, according to Samir Aliyev, head of the Union for Economic Initiatives Support. His analysis of the financial performance of South Caucasus countries during the first half of 2024 paints a stark contrast to the country’s image as the economic leader of the region.
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The Caspian International Investment Company JSC ended 2023 with a net loss of 557,000 manats, a significant improvement compared to the previous year, when losses were four times higher. The company's pre-tax losses for the year amounted to 264,000 manats, 11 times lower than in 2022, while income tax payments of 293,000 manats highlighted the efficiency achieved through strategic fiscal management.
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The 24th Republican Beekeeping Exhibition and Fair opened in Baku on Monday, with around 120 tons of honey products on sale. The event features the participation of 275 beekeepers from 39 districts across Azerbaijan and will run until September 29.
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