New Chairman of Supervisory Board at BSE
At a December 21 general meeting of shareholders of Baku Stock Exchange, Rovshan Allahverdiyev was elected the new Chairman of the Supervisory Board of the Exchange.
Rovshan Allahverdiyev from 2013 has held the position of Chairman of the Board of JSC Capital Bank. In the Supervisory Board he replaced another representative of the bank, Yashar Mammadov.
By the decision of shareholders, the former Chairman of the Supervisory Board of the BSE was suspended from membership in that body. As a member of the Supervisory Board he was replaced by Fuad Islamov, one of the three Directors-General of the International Bank of Azerbaijan.
In total, the Supervisory Board includes representatives of 7 of the 20 shareholders of the BSE.
BSE was established in 2000 and is the only exchange platform for the participants of the stock market. ---08D
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review