The Cabinet of Ministers of Azerbaijan has registered the capital of JSC Azerkosmos that increased from 40 million to 63,610,600 manat.
As stated in the text of the Decision on Amending the charter Azerkosmos (approved on 23 December 2010), published the day before, the number of shares of the satellite operator with par value of AZN 20 increased from 2.18 million to 3.53 million.
Azerkosmos JSC was established in accordance with the presidential decree of May 3, 2010 in order to launch into orbit telecommunications satellites, management and implementation of maintenance activities. All shares are state-owned JSC.
Launch of the first satellite of Azerbaijan carried out on the night of February 9 last year. The satellite is located at the orbital position of 46 degrees east longitude. In the service area Azerspace / Africasat-1a includes the countries of Europe, the Caucasus, Central Asia, Middle East and Africa. --17D-
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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