Michael Oseevsky has been appointed the new Chairman of the Supervisory Board of Bank VTB Azerbaijan. He is Deputy President - Chairman of the Board of the bank.
Vice-Chairmen of the Supervisory Board of Bank VTB Azerbaijan have been appointed Anna Shumeyko and Rashad Rasullu. The bank’s structure also includes representatives of shareholders of VTB (Azerbaijan) - Museyib Aliyev and Korkmaz Agayev from Ata Holding and Sergei Tsarev and Dmitry Popov from VTB. ------71D
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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