The Ministry of Economic Development (MED) has finalized its assessment of the respective companies Azerbaijani standards of corporate governance, which takes into account the principles of corporate governance OECD (Organization for Economic Cooperation and Development). Grade point average estimate was 63%.
The evaluation, which was attended by 33 joint stock companies and limited liability companies, the rating, Turan was told by the press service of the Ministry. This rating reflects the level of transparency of the company's optimal governance structure, ensuring the rights of shareholders, etc. Total score indicates the level of corporate governance on nine criteria.
Maximum (98.2% out of 100% possible) received JSC DemirBank.
Note that the bank's shares are included in the quotation list of the first level of BSE. The bank pays a steady dividend increases share capital, subject to the pro rata share of the existing shareholders, publishes annual reports, etc., can not be said of many other parties to the evaluation of the campaign. Among them, there are also companies with 100% state participation (Azerlotereya - 50,2%, Clean City - 70.6%, Azerbaijan Investment Company - 82.3%). The minimum score for the level of corporate management (7.5%) received Ltd. Azerstar, which owns about 98% of Sumqayit Kompressorlari. - 08D -
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review