General Meeting of Shareholders of DemirBank will take place on June 29, which will focus on organizational and financial nature.
In accordance with the requirements of the legislation, the shareholders elected a new Supervisory Board, the Management Board and the Audit Committee, as well as express their opinion on the particular value of the transaction. In addition, it is planned to increase the authorized capital of a subsidiary of the bank - a brokerage company LLC ADB Broker.
OJSC DemirBank was established in 1992. The bank's shares belong to more than 800 businesses and individuals and it is one of the most advanced ones in Azerbaijan. Among the shareholders there is EBRD (25% +1 share) and Netherlands Development Finance Company (10%).
According to January 1, the authorized capital of JSC DemirBank is AZN 21 million, and the total capital is 57.2 million manat. The bank's assets are 382 million manat. - 08D-
Economics
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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Azerbaijan has temporarily suspended the import of cattle, poultry, and related products from several regions following outbreaks of foot-and-mouth disease and highly pathogenic avian influenza in Europe, the Middle East, and Africa, the country's Food Safety Agency (AQTA) reported.
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