On 17th May at the Heydar Aliyev Center in Guba there was held a regional video-conference on corporate governance and the effectiveness of the reporting system in joint stock companies.
The press service of the State Committee for Securities told Turan that the video conference will be attended by heads of departments SSC who will discuss with the leaders of corporations Guba-Khachmaz economic region topical issues of the relationship between management and shareholders, shareholder protection, management and implementation Reporting to the general meeting of shareholders and government agencies.
Prior to this, these conferences were held in the cities of Ganja, Lankaran and Sheki. However, the effectiveness of such measures is not high. The level of compliance with the standards of corporate governance and accountability is still low.
SSC with the participation of international organizations has drafted legislation to harmonize local legislation with European standards and tighter administrative penalties for violating them. However, for the past 4 years, these documents are not received in the country's parliament. 08D
Economics
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Azerbaijan's foreign direct investment (FDI) portfolio for the first half of the year continued to be dominated by the oil and gas sector, which attracted 80.4% of the total FDI inflow of $3 billion, according to the Central Bank of Azerbaijan. This reflects a persistent trend of reliance on energy resources, as the country plays a critical role as a key energy producer in the region.
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A Baku seminar titled "Green Building Initiative in Azerbaijan," held on September 12, spotlighted the country’s increasing focus on sustainable construction. Organized by the State Committee for Urban Planning and Architecture, in collaboration with the International Finance Corporation (IFC), the event brought together key stakeholders from both the public and private sectors, reflecting a growing national commitment to environmentally conscious building practices.
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The Central Bank of Azerbaijan (CBA) today held a briefing on the financial results for the first half of 2024, shedding light on the country’s economic health and key indicators influencing its external balance. Samir Nasirov, Director of the CBA Statistics Department, outlined the current account surplus, foreign investments, and other critical metrics during the event.
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On September 11, 2024, Azerbaijan's Economic Council, chaired by Prime Minister Ali Asadov, convened to review the draft state and consolidated budgets for 2025-2028. The meeting, dedicated to key financial and economic issues, addressed global economic trends, macroeconomic forecasts for 2024-2028, and the country’s budget policy for the coming years.
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