The State Supervision Service on Precious Metals and Stones at the Ministry of Finance of Azerbaijan has suddenly become concerned about the massive absence of state samples on precious stones and metals intended for sale.
Its leadership has warned the manufacturers and suppliers of precious stones about liability in accordance with Clause 10.3 of the Law On Precious Metals and Stones. According to the document, local and imported jewelry and other products intended for sale must undergo an analysis, examination, testing and branding in the said service of the Ministry of Finance.
Recall, Articles 19 and 20 of the same law provide for the liability of violators under the Criminal Code and the Code of Administrative Violations of Azerbaijan. --17D-
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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