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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In Azerbaijan, debates are ongoing about the feasibility of hosting the UN Climate Conference COP29 in Baku. Azerbaijani critics argue that the event could place a heavy burden on the country's budget, with rumors circulating that the recent increase in fines for traffic violations and a surge in such penalties aim to fill the budget gap left by COP29 expenses.
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The State Oil Company of Azerbaijan (SOCAR), through one of its trading subsidiaries — SOCAR Trading, is seeking a license from the Romanian regulator to conduct trading operations in the country, an informed source exclusively told Turan.
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Azerbaijan's Economy Minister Mikayil Jabbarov held discussions with Jérôme Beaumont, Executive Secretary of the Egmont Group, a financial intelligence organization, during the COP29 conference.
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