The Executive Director of the State Oil Fund (SOFAZ) Shahmar Movsumov was re-elected to the Supervisory Council of VTB Bank, where from June 28, 2013 he has served as an independent member.
According to Russia's second largest bank, during the voting, he scored 13.3 trillion of votes (number of shares). The fact that the Chairman of the Supervisory Board with 9.1 trillion vote was the Russian Economic Development Minister Alexei Ulyukayev, and no one got more votes than Movsumov says that the share of SOFAZ in VTB is great.
As of 1 January 2015, the fund's investment portfolio in the Russian economy is estimated at the current rate of $ 568.2 million and 1.5% of its total investment portfolio. Additionally, SOFAZ holds 2.95% stake in VTB.
OJSC VTB Bank is presented in Azerbaijan through its subsidiary JSC VTB Bank (Azerbaijan) presented by 14 branches and customer service at the Office headquarters. --17D-
Economics
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
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