By January 1, 2016 SOCAR placed 543 million AZN as deposits in three Azerbaijani banks, reads the consolidated report about SOCAR’s financial operations last year audited by Ernst& Young.
Of this amount 461 million AZN was placed at the International Bank of Azerbaijan (IBA), 32 million AZN at Halq Bank and 50 million AZN at Pasha Bank.
During this period the interest rates of these deposits totaled Libor+70, Libor+3 and Libor+6, respectively. The initial term of post restante deposit is three months.—0—
Economics
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Azerbaijani President Ilham Aliyev signed a decree on Monday aimed at improving social welfare, increasing the country’s minimum monthly wage to 400 manats ($235) starting January 1, 2025.
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Turkish companies YDA and ASFAT plan to build a shipyard near Kazakhstan's port of Kuryk to address the country's domestic fleet shortage, Kazakhstan's Minister of Transport Marat Karabaev announced on Monday during a parliamentary session. The project underscores Kazakhstan's ambitions to strengthen its maritime capabilities and logistics infrastructure.
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Kazakhstan's Minister of Transport, Marat Karabayev, unveiled the country’s bold roadmap for transforming itself into a premier transport and logistics hub in Eurasia. Speaking in parliament on Monday, Karabayev detailed strategies to capture a share of the massive $1 trillion annual freight flows between the East-West and North-South corridors.
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The ASCO-owned ferry "Shahdag," freshly refurbished, has resumed operations on the Azerbaijan-Kazakhstan route, aiming to alleviate severe truck congestion at ports on both sides of the Caspian Sea.
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