In the first half of this year, the State Committee for Securities registered 22 transactions on mortgage securities. Compared with the first half of last year, the Register of mortgage securities included data on 28 mortgage operations fewer.
According to the SSC, the situation with the pledge of securities deteriorated. 17 additional registrations of mortgage contracts were carried out (+14 compared to the six months of 2012), which is produced mainly as a result of the transition to another person of the claim secured by the pledge, and the alienation of the collateral to the condition of preservation of the collateral.
It is noteworthy that the pledge and the arrest of the securities in Azerbaijan carried out without the knowledge of their owners. Based on the available information from Turan, a district court of Baku on what that fact has seized 100% of shares of Khatai Tikinti Mekhanizasiya, which is contrary to the law, causing that its shareholders can not exercise any of the operations on them. - 08B---
Economics
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Azerbaijani President Ilham Aliyev has signed a decree introducing amendments to the "Armed Forces of the Republic of Azerbaijan" law. The decree, issued on December 24, 2024, follows the implementation of changes under the law of November 7, 2024, and aims to ensure their practical application.
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Silk Way Alat Free Economic Zone (SW AFEZCO) has entered a transformative stage in its development, signing a pivotal agreement with FF Construction for the design and construction of the Silk Way Cargo Village in the Alat Free Economic Zone (AFEZ). This ambitious project includes the planning, engineering, and building of three cornerstone facilities that will underpin the Cargo Village: an air traffic control center, a business aviation terminal, and a fire station.
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BAKU, Dec 24 (Reuters) - Azerbaijan’s President Ilham Aliyev has issued a decree to boost the cargo handling capacity of the Baku International Sea Trade Port, allocating 20 million manats ($11.8 million) from the presidential reserve fund for the port's expansion project.
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A meeting was held between the State Service for Antimonopoly Control and Consumer Market Supervision and entrepreneurs in the fuel sector, highlighting both current challenges and promising steps toward progress. Discussions, organized under the Ministry of Economy, focused on fuel quality issues, consumer rights protection, and compliance with established standards in a country where vehicle fuel has long been a contentious issue.
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