Over eight months of this year, the State Committee on Securities received 221 letters of complaint. Compared with the same period last year, the number of appeals to the SSC increased by 36 %. And according to the version of the World Economic Forum in the Global Competitiveness Index, in the financial sector in 2013-2014 has made a serious progress.
According to the SSC , investors complained about the violation of their rights in 404 JSC. This is by 145 or by 56 % more than in the comparable period of 2012. According to the results of investigation of complaints, the SSC has applied administrative sanctions against 144 entities in the amount of 200 to 300 manat. Total fines amounted to 29.7 million manat, which is by 22% less than in January- August 2012.
According to the legislation, the general meeting of shareholders should be held no later than at the expiration of the first six months of the financial year. After conducting the meeting, annual reports should be published of the JSC within a month. However, by the 1st September, only 316 JSC submitted annual reports to the SSC. The press also publicized a tenth of these reports. This means that investors do not have a source of information on the situation in joint stock companies, including their financial condition. 08D
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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