Ata Holding announced the elimination of the company Inter Tourism established in December 2004. The head of the corporate holding Subhi Mustafayev commenting on the decision on the elimination of Inter Tourism Company said that it is probably due to the inactivity of the company.
Inter Tourism Ltd. was founded with the purpose of research, training and employment projects for attracting investments in tourism. Director of this company is Ashraf Kamilov, who is considered the owner of several holding companies, including JSC Synergy Group and JSC Industrial Construction Investment Corporation Accord.
In Ata Holding there are two active companies in the field of tourism (Ata Travel and Ata Tourism) and the Excelsior Hotel in Baku (operated by Interservice).
Note that according to the latest announced financial report, Ata Holding has at least 10 subsidiaries (Ata Inshaat, Ata Qida, SaSa Et Mehsullari, Ata Trading, Ata Marketing, Ata Agro, Ata Telecom, Ata Energy, Ata Oil Gas, and Ata Holding Moldova ), which also do not function. The question of their elimination is not considered yet. ---- 08B
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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