The authorized capital of the Central Bank of Azerbaijan has totaled 500 million AZN. This became known after the Milli Majlis at today's meeting approved amendments to the Law on the Central Bank. Recall, the current level of authorized capital of the Central Bank is 10 million AZN.
The MPs also approved Article 5 of the law providing for the expansion of the functions of the main regulator of financial flows. Now, the CBA will calculate the total external debt of the country on both public and private sectors, as well as make international investment balance and compile and disseminate the information. --17D-
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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