The appointment of Elmar Mammadov to the post of chairman of the board of the International Bank of Azerbaijan (IBA) has caused changes in the composition of JSC Azer-Turk Bank.
The day before, according to the structure, Afig Khudayev has been appointed one of the Board members, Farhad Adigezalov became Acting Chairman of the Board and Rumiya Mammadova became his deputy.
JSC Azer-Turk Bank was founded and received a license of the Central Bank of AR on May 25, 1995. Its shareholders are the State Committee for Property Affairs (75% stake), Turkish TC Ziraat Bankasi (12.37%), the reinsurance company AzRe (6.55%), Qala Life (5%) and Ziraat Bank International AG (1.08 %). --17D-
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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