The State Oil Fund of Azerbaijan (SOFAZ) held a seminar for the media on the topic of asset management of the structure. According to Bahruz Bahramov, the Head of Risk Management of SOFAZ, SOFAZ assets at the end of this year, projected at $ 35 billion.
After three quarters of 2015 the volume of foreign exchange funds of SOFAZ declined by 2.567 billion dollars, amounting to 34.738 billion dollars.
On September 30, 2015 the investment portfolio in the amount of 34.604 billion US dollars is as follows: 47.8% - US dollars, 35.9% - the euro, 5.0% - Pounds. The rest of the portfolio consists of Turkish lira, Russian rubles, Korean won, Chinese yuan, Japanese yen and other currencies, as well as 3.2% - gold.
During the last year SOFAZ assets decreased due to the fall in oil prices. -02D-
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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