The State Oil Fund of Azerbaijan (SOFAR) posted today in the vaults of the Central Bank of Azerbaijan, one tonne of gold (32,150 ounces).
According to the report of the Fund as at December 31, 2012 gold reserves SOFAR reached 14,934 kilograms (480,146 ounces).
From the 1st of February last year started buying gold bullion (at week 10 ounces) in the bank are members of the Associated Market Makers in the London precious metals market.
According to the investment policy of the SOFAR to 5% of the total value of the investment portfolio may be invested in gold. - 15D -
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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